Entrepreneurship: Smart & Secure - Executive Summary, Business Idea, Market Analysis, Financial Plan

Entrepreneurship
5/20/2019
Smart & Secure

Entrepreneurship 1
Executive summary
In the present competitive scenario, there is increase in the businesses by the entrepreneurs as
they engage in competitive world by offering their products to the clients present in the market.
The report is prepared with the aim that a group of entrepreneurs are willing to open a business
with the name of Smart & Secure that shows the product and its features. The company is
offering the Smart luggage bags in the market with the new feature of the fingerprint sensor. The
findings of the report contain the facts linked to corporation, its mission, vision, strategies, and
the financial plan. The findings show the financial plan and marketing strategies of the corporate
in the marketplace of Australia.

Entrepreneurship 2
Contents
Introduction......................................................................................................................................4
Business idea...................................................................................................................................4
Logo.............................................................................................................................................5
Mission........................................................................................................................................6
Service Offering...............................................................................................................................6
Market analysis................................................................................................................................8
Industry analysis..........................................................................................................................8
Competition analysis...................................................................................................................8
Target market...................................................................................................................................9
Primary target market..................................................................................................................9
Marketing mix...............................................................................................................................10
Product strategy.........................................................................................................................10
Pricing strategy..........................................................................................................................11
Place strategy.............................................................................................................................11
Promotion strategy.....................................................................................................................12
Mock-up of Laundry Sphere..................................................................................................14
Financial Plan................................................................................................................................14
Profit & loss statement...............................................................................................................14
Balance sheet.............................................................................................................................16

Entrepreneurship 3
Cash flow statement...................................................................................................................16
Critical risks...................................................................................................................................18
Brand recognition......................................................................................................................18
Competition...............................................................................................................................18
Conclusion.....................................................................................................................................19
References......................................................................................................................................20

Entrepreneurship 4
Introduction
The term entrepreneurship is the procedure of scheming, initiation and running a new corporate
which often initiating a small business. These businesses are created by the persons who are
known as entrepreneurs of the company that generates the new concept in the market to attain the
profit from the product by offering it to their customers.
This report throws light on the entrepreneurial venture group that are to grow an entrepreneurial
product or service that could be commercialised. This group is to take responsibility it is seeking
the funding of $100,000.00 to add on to the present funds of $100,000.00 that is saved by the
group. This report includes the deep analysis of the primary as well as the secondary market that
is explained with the help of the market industry analysis and discussion of the marketing
strategies. The financial plan is prepared which shows the practice of the funds for the first
financial year.
Business idea
In the competitive world, the ideas of the entrepreneurs need to be unique as well as innovative
so that they can survive in the market and can give the tough competition. The business idea is to
introduce the smart luggage bag with the feature of fingerprint sensor in it. This add-on feature
of the business will help them to attract the new clients in the market. The corporate logo with
the name of company that is Smart & Secure is designed which shows the nature, products, and
services of the company.

Entrepreneurship 5
Logo
The logo of the business is given below which demonstrate the tagline of the business “fly
smartly with security” that suits the product that is Smart Luggage bags provided by company to
their customers present in the market.