Business Plan for Heaven Fragrances: An Organic Vegan Perfume Brand

BM564 Enterprise and
Entrepreneurship

Table of Contents
Introduction:.....................................................................................................................................3
MAIN BODY...................................................................................................................................4
Proposed Future Business Plan:.............................................................................................4
Customer Analysis:................................................................................................................4
Competitive analysis:.............................................................................................................5
Skills analysis:........................................................................................................................6
Profit and Loss account:.........................................................................................................7
Cash flow forecast..................................................................................................................8
Break even analysis................................................................................................................9
Sources of funding:.................................................................................................................9
Resource planning:...............................................................................................................10
Management information system(MIS)...............................................................................11
Vision:..................................................................................................................................11
Conclusion:....................................................................................................................................12
References......................................................................................................................................13

Introduction:
The business organisation is term as entity in which different operations is performed
with an objective of meeting customer needs and wants. In order achieve the sustainable growth,
it is crucial for the any organisation to develop the appropriate business plan. The business plan
is basically referred as written document that represents activities, product description,
competitors, goals and vision of the company. Due to effective business plan, the resources and
strategical actions can be timely identified leading to the success of business goals. This report
will make a new business plan which will launch the new brand “Heaven Fragrances” for
providing exotic vegan perfumes. The following report will also outline the proposed business
plan, its target marketplace, rivals, skill analysis as well as source of funding. In the last, this
report will also describe about the type of company and vision behind new business idea.
MAIN BODY
Proposed Future Business Plan:
The “Heaven Fragrances” brand will provide the all new vegan perfume products to the
customers of the market. The product will be made by using organic, botanical as well as other
environment friendly natural ingredients(Meyer, Neck and Meeks, 2017). These type of natural
perfumes will be made as per the needs and wants of customers who prefer organic perfumes.
The product will launch its products in the range of natural fragrances such as rose, lilly, jasmine
and much more exotic fragrances will be provided through the products. For making this organic
perfume, the clean and plants based ingredients will be taken into consideration. The company
will supply the chemical free natural scent. In addition to this, the fragrances of the product will
be long lasting as well as light in smell. The synthetic free ingredients will possess no harmful
side-effects such as skin rashing or itching to the customers.
When business is launched with new idea, it is important for entrepreneur to protect the
rights of producing, packaging, process and many more. In order to refrain from this, the
organisation should have to register its right in the form of patents(Ramadani and et.al., 2017).
This will protect the business owner's new business idea to be copied from any rival competitors
and if this happens in future, then the company is legal to use its intellectual legal rights against
the cheater.
Customer Analysis:

The Heaven Fragrances will practise the business to consumer model in order to reach the
customers for selling organic perfume products. The organisation is directed towards selling the
product into the market of UK and with the support of STP business tool the business is going to
find the most relevant customers in target market. In context to Heaven Fragrances, the STP
model is explained below:
Segmentation:
The market will be segmented in smaller groups so that marketing team can easily
identify the right customer base. The organisation will segment the target market on the basis of
behavioural segmentation. This will allow the company to target those customers who prefer the
use of organic and natural products.
Targetting:
After finding the right marketplace with right customers, the next step is to target the
female customers who mainly falls in the age group of 18 to 50 years of age(Drobyazko and
et.al., 2019).
Positioning:
The Heaven Fragrances will adopt effective promotional strategies in order to gain
competitive position in the market. The firm will position its product on social media platforms
for attracting large number of customers in effective manner. In relation to this, the firm will also
offer the sample pieces of organic perfumes with attractive packaging to its customer on free
cost. This will allow the firm to enhance confidence level among customers for purchasing more
quantities of organic perfumes in future.
Competitive analysis:
The competitive analysis framework will support the Heaven Fragrances company to
know the competition level in the market for the purpose of developing future strategic
plans(Hitt and Duane Ireland, 2017). In order to perform competitive evaluation , the porter 5
forces model is taken into consideration:
Porter 5 forces model:
This business model is considered as strategic framework which can help business
organisation to frame future business strategies by taking into focus the behaviour of different
parties. The following points represents the elements of this model in context to Heaven
Fragrances: