Assignment On New Venture Plan For Australian Market

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Entrepreneurship
[Type the document subtitle]
10/15/2019
student name

Entrepreneurship 1
Executive summary
The report will consider of the new venture plan for Australian market, for which the business
model, industry analysis, financial plan, and schedule for the activities to be perform would be
conducted in report further. The new venture for this business plan includes customized skincare
organic products. The proposed name of the company would be “Skin Nurture.”
The company will be concentrating towards the customer satisfaction, and consider customer
needs and expectation to the utmost. From key assumptions, presented in preceding table reflect
that the initial investment $170000. The key metrics would include initial response of eh
customer that can be assess through word of mouth, feedback, or the initial sale of the company.

Entrepreneurship 2
Contents
Executive summary.........................................................................................................................1
Introduction - New venture description...........................................................................................3
Lean Business model design............................................................................................................3
Opportunity, market analysis...........................................................................................................5
Competitive analysis........................................................................................................................6
Organization and management........................................................................................................8
Financial plan...................................................................................................................................8
Marketing strategy.........................................................................................................................10
Critical risks Alternative course of action.....................................................................................10
Milestones schedule.......................................................................................................................11
Conclusion.....................................................................................................................................13
References......................................................................................................................................14
Appendix: Financial Plan..............................................................................................................16

Entrepreneurship 3
Introduction - New venture description
Startups are depended on the entrepreneur, design thinking, and the new idea generated and
taken to business level by an entrepreneur. Startup of a new business idea requires various major
plan include decisions to be made for the organization and implementation of the pal. The report
will consider of the new venture plan for Australian market, for which the business model,
industry analysis, financial plan, and schedule for the activities to be perform would be
conducted in report further (Ahlin, 2014).
The new venture for this business plan includes customized skincare organic products. The
proposed name of the company would be “Skin Nurture.” The unique selling proposition of the
company would be that the company will offer the organic skin care products after analyzing the
skin type and relative skin problem area (Baron & Mueller, 2016). Other than this, the focus will
be over providing safe product that would not created by using any chemical product that may
reflect good result for the temporary basis but may hamper the skin for long term. Thus the
company will be concentrating towards the customer satisfaction, and consider customer needs
and expectation to the utmost. However, there could be some of the existing competition of
substitutes that may impact skin nurture’s business, which would be discuss along with the
effective solution in the report further (Ahlin, 2014).
Lean Business model design
Lean business model reflect the proposed business model for the startup that is skin nurture in
this case. This will reflect the major business activities, identified problems and their solution.

Entrepreneurship 4
The major aspect to be considered through lean business model for skin nurture is presented
below:
Designed for: Designed by: Date:
Lean Canvas
Problem Solution Unique Value
Proposition
Unfair
Advantage
Customer
Segments
1.
Different
skincare
for
different
skin type
2. Skin
damage
due to
environm
ental
cause
3.
Chemical
used in
cosmetic
products
1. Introduction
to exclusive
skin care
combo
2. Customized
product range
2. Organic
ingredients
used
1. Personalization
2. High profit earning
3. Safe to use product
1. Difficult to
imitate the set of
ingredients
2. Analytical power
pertaining to the
skin type and
suitable product
range.
1. High income
group
2. Heavy users
3. Women
4. Working
women
Existing
Alternati
ves
Key Metrics High-Level
Concept
Channels
1. High
end
brands
2.
Natural
Homema
de
1. Brand awareness
2. Customer initial
response
3. Sales figure
Customer relation by making
customer shares their skin
type and problem areas so
that the personalized product
combo suitable to their skin
is reached at their doorstep.
1. Physical Stores
2. Online shopping website
3. social media platforms
4. mobile application for
android and IOS

Entrepreneurship 5
skincare
3.
Organic
brands
Cost Structure Revenue Structure
Research and development
Customer need analysis
Distribution costs
Marketing cost
Return on investment
Initial sale
Profit margin
Opportunity, market analysis
While analysing the market that is the Australian cosmetic industry can be said that there are
various companies working towards organic personal care and cosmetic products within the
nation, however there are various opportunities identified for skin nurture. From the graph below
it can be said that the global organic market share (Amabile & Rigolizzo, 2015)
Considering the product category for 2018 statistics, reflect that the skin care product range has
been considered as maximum market share within the global market. This reflects that the
opportunity for the skin care products to be offered to the customer is very high
(grandviewresearch, 2019). Moreover, the research and development Where the companies has
considered customer needs include more protected and organic products to be used where some
of the global brands include the body shop, Amway and Estee Lauder. These are the global
brands who are working towards the organic product, considering various product categories that