Planning for Growth: A Business Plan for Milton Sandford Wines' Expansion into India

This report outlines a comprehensive business plan for Milton Sandford Wines, a UK-based wine manufacturer, aiming to expand into the Indian market. The plan analyzes key growth considerations, including competitive advantage, Porter's generic strategies, and PESTLE analysis. It also explores various funding options and their implications, including personal investment, venture capital, angel investors, bank loans, and crowdfunding. The report further details a marketing strategy, including STP analysis, market trends, and competitor analysis, to effectively position Milton Sandford Wines in the Indian market. Finally, it discusses potential exit strategies for the company.

Planning for Growth
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Executive Summary
It is very crucial for a business organization to make effective planning and strategies in order to
gain success in the market. This assignment is focused on making an effective planning for
Milton Sandford Wines, which is a UK based company. The growth plan has been developed to
ensure successful expansion of Milton Sandford Wines in Indian market. Through this
assignment, necessary factors that can lead a start-up or SME towards success have been
identified. This assignment includes effective financial requirements along with business plan,
which will help to identify the key aspects for leading Milton Sandford Wines towards success
and to gain competitive advantage in the market.
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Table of Contents
Introduction......................................................................................................................................4
1. Key considerations for Growth options (P1, P2).........................................................................5
2. Sources of Funds and their Implications to the Business (P3)..................................................11
3. Business Plan (P4).....................................................................................................................16
4. Exiting Strategy (P5).................................................................................................................21
Conclusion.....................................................................................................................................22
Reference List................................................................................................................................23
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Introduction
Planning is considered very essential for the growth and development of a company. The higher
authorities of the company mainly plan growth by using the revenue that is generated in the
course of the business. This also helps the companies to ensure that all their departments are
provided with proper fund so that they can function in accordance to the requirements of the
company. The managers of the companies also ensure that their company is being able to accept
all the changes that are currently taking place in the constantly growing market. In this report, a
business plan has been formulated for Milton Sandford Wines, which is a UK based company to
ensure its successful expansion in India. There are various areas that are to be taken into
consideration so that growth planning can be done in an effective manner.
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1. Key considerations for Growth options (P1, P2)
Milton Sandford Wines is manufacturing wines and serving different countries since the year
1990. The importance of competitive advantage has been discussed alongside the analysis of
Porter’s generic Strategy and PESTLE analysis has been done in order to analyze the growth
options.
Competitive Advantage: Most of the companies nowadays look to seek competitive advantage
over the other companies functioning in the same sector. With the help of competitive advantage,
a company can easily outperform its competitors. As a result, they get a competitive advantage in
the market and can develop as a whole. Competitive advantage over other companies can be
gained if the company can manage to have access to various available raw materials and
resources and they have to get it at a cheaper price. This helps to increase the productivity of the
company (Baker and Sinkula, 2015). Therefore, it can be said that it provides the company with
leverage to keep themselves at a higher level than their competitors. Apart from this, the
company is able to succeed on a long term basis (Davcik and Sharma, 2016). Milton Sandford
Wines should therefore take these factors into consideration in order to gain competitive
advantage over its competitors. Porter’s generic strategies and Pestle analysis have been done in
order to order to link the available opportunities with growth of the company. Ansoff’s growth
vector matrix is used to analyse the different growth options.
Apart from these, there are various risks that are associated with the growth of the company.
These risks have been discussed in a detailed manner below:
Increased cost: There are times when the companies try to gain competitive advantage and in
order to achieve this; the prices of their products are considerably very high. They are also not
able to meet with the demands and needs of the customers and therefore, they start losing their
customer base. This has a major impact on the overall operations of the company.
This risk can be mitigated, if the company tries to increase their productivity and manage their
pricing strategy in such a manner that the price suits the needs of the customers. This will help
the company to increase their revenue generation and as a result, they will be able to expand in a
proper manner.
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Effects on the quality of products: Competitive advantage helps the company to gain leverage
over their competitors that is considered to be helpful for the company. However, while doing so
the companies do not considered the quality of their products and services. As a result, the
quality decreases to a great extent and it proves detrimental for the company in the long run.
Customer satisfaction cannot be reached and the company is not able to generate profits.
Mitigation of this risk can be done with the help of training the employees and making them
understand that it is comparatively easy to sell their products to the existing customers but it is
very difficult to develop a completely new customer base. As a result, the company should lay
emphasis on lifting their product quality.
Porter’s Generic Strategy: In order to gain competitive advantage, Porter’s generic strategy has
been analysed in a detailed manner below:
Cost Leadership:
This strategy is mainly used by the companies when they decide to decrease the cost to the
minimum in their sector. This is mainly dependent on the infrastructure of the company. This can
be achieved only if the companies have access to raw materials at a very low price and other
materials in order to produce their products. Therefore, it is important for the companies to
ensure that they have seen all the different sources of cost advantages techniques (Wickeret
al.,2015).
Differentiation:
This type of strategy is used most by the companies when the look forward to ensure that they
have a different type of uniqueness in their products and services that they are offering so that
they can attract the attention of the customers in order to develop a strong customer base. The
attributes that are chosen by the producers are considered to be very important aspects of the
products and customers value them a lot (Ouma and Oloko, 2015).
Cost focus:
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Cost focus is used by the company when they mainly focus on lowering the cost of their services
and products. Therefore, the companies can understand the behaviour of the customers with the
help of this strategy and as a result, the productivity of the company is increased.
Differentiation Focus:
Differentiation focus is applicable to the companies that look to focus on a particular segment of
the company and ensures that they are able to increase the uniqueness of the products
manufactured in the company.
Considering the classic wine bottles, the company can bring changes in the packaging and
bottling method to attract more customers. Glow-in-the dark bottles can be considered for a new
packaging in case of Milton Sandford Wines. This innovation in the packaging would provide a
new outlook to the customers.
The company, Milton Sandford Wines is looking to expand in India and therefore, the PESTLE
analysis of India has been done below in order to understand the different areas of concern in
India.
Political Analysis:
India being the largest democracy in the world is suitable for Milton Sandford Wines to expand.
Besides this, there are various political factors that have an impact on the business of the
company. Political policies and interests of the politicians also have an impact on the company in
a huge way. The different states of India have to pay taxes to the government, which is 25%.
This might affect the company in a huge manner.
Economic Analysis:
India has a constantly developing gross domestic product (GDP) that is 2.26 lakh crore USD;
that will prove to be beneficial for the growth of the company. Another positive economical
factor is that India has cheap availability of labour and therefore, the company will not have an
issue in employing people at low cost and the availability of skilled workforce is also used by the
company (Policy, 2016).
Social Analysis:
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Nowadays the social and cultural lifestyles of the Indian citizens are quickly changing. There are
various cultural trends that are to be followed by the company in order to develop in India.
Customers prefer both domestic and international wines and therefore, the company should focus
on developing their products to suit the needs of the consumers. People also prefer consuming
grape wine therefore, it is necessary for the company to focus on manufacturing grape wines.
Technological Analysis:
India has made tremendous advancement in the field of technology and the technological sector
in the country is constantly growing (Abbott, 2015). People of the country have easy access to
technologies and therefore, it is easy for the companies take the help of technologies and
promote their products. Since, India has a lot of wine companies, Milton Sandford Wines will
not have to worry about different technologies within the country.
Legal Analysis:
The country is developing various policies and legislations that are considered to be helpful for
the company in terms of hiring cheap and skilled workforce. Food Safety Modernization Act of
2010 is considered to be very helpful for the company in terms of their business operations.
Contract Labour Act of 1970 is helpful for the labours of the company.
Environmental Analysis:
The company might be subjected to various environmental factors that could have a positive or
negative impact on the company. The climate of India is constantly changing and it could affect
the growth of grapes, which could affect the company. There are various geographical factors
that could also affect the company in a huge manner.
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Ansoff’s Growth Vector Matrix:
Figure 1: Ansoff’s growth vector matrix
(Source: dos Santos and Fukushima, 2017)
Ansoff’s growth vector matrix can also be used by the company in order to develop in the Indian
market.
Market Penetration: With the help of market penetration, the company looks to develop their
already existing products and services and sell them to their customers. The market share of the
company is also increased in market penetration. The company decreases the prices and looks to
sell their products at cheaper rates (Martinet, 2016).
Market Development: This strategy is followed by the company in order to expand and develop
into a completely new market located in a different geographical situation. It is usually done by
segmenting the customers. In most of the cases, the buyers are highly profitable and the newly
entered market is not completely different from the previous one.
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Product Development: This is done by the companies when they look to develop a completely
new product and sell them in the old market and to the existing customers. This required the
company to invest in the research and development department (Loredana, 2016).
Diversification: When the company aims at growing their shares in the market by offering new
products to the customers, then diversification takes place. The strategy is very risky as both the
product as well as the market needs to be developed.
According to Ansoff’s growth vector matrix, the strategy that will be followed by Milton
Sandford Wines is market development. Since they are looking to develop their company in
India, they have to develop their market in India. This will help them to build a strong customer
base and as a result of this, the company will be able to carry out their business in an appropriate
manner.
Besides this, all the other strategies cannot be used by the company. Since they are not looking to
develop any new product in the Indian market, therefore, product development cannot be used.
They do not have an existing Indian market that they can penetrate so market penetration cannot
be applied. They are also not looking to develop any of their old products and this makes
diversification invalid for the company.
Joint Venture:
Milton Sandford Wines should make use of joint venture collaboration with another wine
company of India in order to conduct their business in a proper manner. This will also help the
company to develop in the Indian market (Connellyet al.,2018).
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2. Sources of Funds and their Implications to the Business (P3)
It is very crucial for a start-up or small enterprise to arrange proper funding in order to gain
competitive advantage in the market. Therefore, every SMEs should make proper planning and
strategies to find their potential sources of funding in an effective manner.
“Investment decision-making” can be considered as the process of taking effective decisions for
business growth. In order to gain success into the market, it is very crucial for a business
organization to increase its funding in an effective manner, as it will lead them to expand their
business more (Levy, 2015). On the other hand, with proper funding, it will be easier for an
organization to manage and overcome all the potential issues (relate to financial problems) in an
effective manner.
With the help of proper funding, an organization can increase its market share effectively. As
Milton Sandford Wines is a start-up SME in Reading of wine selling, therefore, it is very crucial
for the company to gain and make a proper funding. From the global statistics of wine
consumption in UK, it has been identified that most of the people (91.8%) of UK consume wine
on their daily basis (e.g. social party, family time, with friends and other occasions). Therefore, it
gives a wide opportunity to Milton Sandford Wines to expand their business more in an effective
manner, as the demand of wine is very high (Kauffman et al., 2015). In order to make investment
for their business, it is very important to take effective decisions for finding appropriate sources,
as it will lead them to enhance their business in an effective manner.
It is very crucial for an organization before select appropriate funding method to obtain, which
scheme will be most feasible for their fund increasing. Payback period and Net present value
calculation will be the two best fund increasing scheme for Milton Sandford Wines, which can
be described as follows-
Payback period: In capital budgeting, payback period can be taken into account as the required
times for recouping the funds used in investment. In general, payback period is a tool, which will
help Milton Sandford Wines to identify the proper time of recover their invested money
effectively.
Payback period = (p - n) / p + ny
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= 1 + ny– n / p, where, unit of payback period will be calculated in years
In this scenario, p = value of cash flow
ny = number of years after initial investment
n = value of cumulative cash flow
For example, if Milton Sandford Wines spend $15,000,00 for its initial investment and gains a
profit of $1,50,000, $1,50,000, $2,00,000, $6,00,000 and $9,00,000, therefore, it takes 5 years of
payback duration to recover the investment in an effective manner.
Number of Years Cash Flow Invested cash (net)
0 -$$15,00,000
1 +$1,50,000 -$13,50,000
2 +$1,50,000 -$12,00,000
3 +$2,00,000 -$10,00,000
4 +$6,00,000 -$4,00,000
5 +$9,00,000 0
Table 1: Payback period calculation
(Source: Created by the learner)
Net present value calculation: NPV (Net Present Value) can be considered as a tool, which is
used for calculating the gained profit from a business. Therefore, it will be very useful for Milton
Sandford Wines to identify their profit value from the market. This value can be calculated by
subtracting PV (Present Value) of the cash outflows (consisting of initial cost) from the PV of
cash inflows over the payback period.
For example,
if Initial Investment of Milton Sandford Wines = $250,000
Net Cash Inflow / Period = $45,000
Periods = 10
Discount Rate / Period = 10% ÷ 10 = 1%
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Net Present Value
= $45,000 × (1 − (1 + 1%)^-10) ÷ 1% − $250,000
= $176,209
In order to expand their business across the UK, the company needs a proper funding, which they
can gain through the following procedures-
Personal investment: In order to increase funding, personal investment can be considered as one
of the most fundamental procedure. In this process, the owner and partners of the business will
invest their money for their business growth (Kulick, 2015). As discussed above that Milton
Sandford Wines is a wine selling company, therefore, it is crucial for the organization to increase
their funding effectively in order to expand their business. In order to do this, owner and business
partners of Milton Sandford Wines should invest their own savings for the business (as much as
they can).
 Benefits: Through this procedure, it will be easier for the company to make their initial
funding more effective. The main advantage of this process is that, the company need to
pay back any amount to others and can keep their entire profit as own.
 Disadvantages: The main drawback in this procedure is that there remains a huge risk of
facing a great loss, if the company fails to gain profit from their business.
Venture Capital: Venture capital can be considered as a private equity, which is provided to the
small, stat-ups or emerging SMEs so that they can increase their funding in an effective manner
for their business growth (Manigart andSapienza, 2015).
 Benefits: The main advantage of this process is to provide a proper guidance and
consultation to the business consisting of HRM and financial management. In order to
make better decisions, in the key domains, venture capital plays a crucial role for Milton
Sandford Wines.
 Disadvantages: As in VC, third parties (who are investing the money) want to get
involved in the business process; therefore, the number of shareholders can be enhanced,
which reduces the profit rate for the owners of Milton Sandford Wines.
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Angels: Angles refer to those individuals (e.g. retired executives, wealthy individual and others),
who are investing their money for the business expansion of SMEs. They do not share their
experience, knowledge and other skills to the business; only the relation between the company
and individual is investor and loan-receiver. In this scenario, the company has to pay back the
money (granted) after a certain period including a certain amount of interest.
 Benefits: The main advantage of this process is that the company can gain this loan at
any time of their need.
 Disadvantages: In case of disadvantage, it can be stated that the interest rate of this
funding is very high and the investment is always done on the basis of contract law, in
where it is written that the company has to pay the money after a certain amount of time
with a proper interest rate. If somehow, the company fails to pay back the money, then it
can lead them to face judicial courtesy as well.
Bank Loan: This process can be considered as one of the most effective and traditional process
of increase funding (Cerqueiro et al., 2016). In this process, Milton Sandford Wines needs to
apply for the investment at first, by highlighting the future scope and growth opportunity of their
business. If the management of bank feels that it will give the bank profit then only they will
grant the loan for the company.
 Benefit: The basic benefit of this process is that the availability and low rate of interest.
 Disadvantage: In order to take loan from the bank, the company needs to provide
original documents of their own properties (worth values of loan amount), and once the
company successfully refunds the money to the bank, then the bank will refund their
original property documents. However, if the company fails to refund the money, then
bank can take over all the properties of the company in order to recover their money.
Crowd funding: Crowd funding is another process of increasing funding for a start-up company
like Milton Sandford Wines, which can be considered as a practice of funding for a specific
project by gathering a small amount of money from a large group of people (Kuppuswamy and
Bayus, 2018).
 Benefits: Fastest way to raising money for the business and investors can track the
business growth, which will enhance the relationship among company and investors.
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 Disadvantages: If the company fails to gain success in the market, then it can hamper
their corporate image effectively.
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3. Business Plan (P4)
In order to develop the business in India, for the company Milton Sandford Wines, a proper
business plan has been formulated that will help the company to grow and develop in a
completely new scenario.
Executive summary:
This is a business plan that has been developed in order to ensure that Milton Sandford Wines is
being able to expand in India. As a result of this business plan, the different competitors of the
company will be analyzed so that they can take various measures to deal with the competitors.
The business plan will also help the company to understand the ways in which they can develop
themselves in the Indian market.
Company overview:
Milton Sandford Wines is a wine manufacturing company located in the United Kingdom. It is
quite famous all over UK because it has been delivering to different cellars all across UK since
1990. The company aims at producing the best quality wines and this helps the company to gain
advantage in the market of the United Kingdom. They train their employees in such a manner
that they can produce the best quality wines and try to become the best selling wine company in
the United Kingdom.
Description of Products and Services:
The products manufactured by Milton Sandford Wines are usually different types of wines that
are sold all over the United Kingdom. The different types of wines are red wine, white wine,
spirit, white sparkling and rose wine. These products are sold in the countries like France, Italy,
United States, Spain, United Kingdom, Australia, South Africa, Portugal, Argentina and many
more. The company now looks to expand in India and bring in the same products so that they can
develop in a proper manner.
Market Analysis:
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With the help of market analysis, the company is able to understand the different areas of the
market that are important in order to conduct the business in a successful manner. STP, market
trends and competitor analysis can be understood and the company is able to make use of these
factors in order to expand and develop.
 STP (Segmentation, targeting and positioning):
Segmentation: This is the process with the help of which, the company is able to segment
potential customers or markets into different groups. Segmentation in the company is done on
the basis of demographic, behavioural and geographic factors.
Targeting: With the help of targeting, the company is able to analyze their potential customers
and figure out whom they should sell their products. Targeting has been done to people
belonging to the age of 22 years and above. They also aim for people who have buying choices
and preference for red wines. The entire geographical location of India has been selected in order
to sell the company’s product (Schlegelmilch, 2016).
Positioning: A company is able to place their selected products or their brands in the market in
such a manner that it appeals to the customers. The company is able to determine the position of
their brand in the current market. They can also make use of unique selling proposition and
design a positioning map that will provide the best solution for positioning the product.
Perceptual Map:
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High Price
Low Price
Low Quality High Quality
D’ori Winery
Chateau Indage
Figure 2: Perceptual Map
(Source: Created by the author)
 Market Trends: Analysis of the market trends allows the company to understand the ways in
which their stocks can be used. They have to keep in mind the past analysis and should look
to develop future trends based on their analysis. If the company is able to manufacture
products on the basis of trends then they will be able to increase the customer base.
 Competitor Analysis: With the help of competitor analysis, the company will be able to
understand the weaknesses and strengths of their competitors in the market. This will give
them an idea about the products that the competitor company is manufacturing. As a result,
the company will be able to develop their products in accordance to the competitors.
Business objectives:
The business objectives that will be followed by Milton Sandford Wines are as follows:
 To capture the Indian wine market
 To increase their number of sales in the Indian market by 10% within the next fiscal year
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 To create a strong customer base within a span of two years after entering the Indian market
Marketing Strategy:
The strategy that is followed by the company in order to grow in the market is known as market
strategy. They implement market strategy in order to ensure that they are able to gain
competitive advantage over the company. The company has to properly analyse all the aspects of
the market in a thorough manner. This will also help to achieve the goals and objectives of the
company.
Sales and Pricing Strategy:
Milton Sandford Wines has to make use of a proper pricing strategy in order to ensure that they
are able to earn profit and generate revenue by selling their services and products in the market.
They have to ensure that the prices are neither too high nor too low, as both will have a negative
impact on the company. If the prices are reasonable, it will enhance the sales of the company
(Nagle and Müller, 2017).
Promotion Strategy:
In order to promote their products in the Indian market, promotion strategies should be used.
They can make use of social media and post advertisements about the products and services of
the company. This will help to gain customer attention and the company will benefit from it in
the long run.
Management Summary:
 Organisational Structure: With the help of proper organisational structure, the company will
be able to understand the ways in which the functions of the company are performed. They
will also be able to allocate their different departments with their job roles. The different
departments of the company will be able to function together in order to achieve the
objectives and goals of the company (Horch, 2018). Considering the fact that Milton
Sandford Wines is entering the Indian market for the first time, the organisational structure
can be designed as per the most common organisational structure, that is, functional
structure. This will facilitate the organisation to enhance its productivity level and achieve
the desired goals.
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 Management Team: There are many members of the company that operate at a higher level
and they ensure that all the important functions of the company are being performed in a
proper manner. They also gather all the business strategy and implement them in the course
of the business.
Financial Sources: Milton Sandford Wines can make use of various financial sources if they are
looking to expand in India. Since the company has the arrangement of overdraft facility of £2.0
million, it can opt for bank loans and venture capitals in order to start their business. This would
provide them better financial aid. With the help of payback option and NPV, the company can
analyse the most feasible funding option for expansion.
Controls:
 Implementation and Contingency Plan: Milton Sandford Wines should look to ensure that
they are implementing the business plan in such a manner that it proves to be profitable for
the company in the long run. They also have to design a proper contingency plan in order to
analyze the different risks associated in the business and it will be used to mitigate these
risks.
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4. Exiting Strategy (P5)
There are times when a company might not perform as expected. It might also happen that the
company might incur loss. As a result, the business owner decides exit the business with the help
of several exit strategies. These exit strategies have been discussed in a detailed manner below:
Sell the Business:
It is the simplest exit strategy that is used by the business owners in order to exit their business.
With the help of this strategy, the owner is able to sell the company to another interested party.
The reason for doing so is because the company was not functioning properly and therefore,
selling it is the best option.
Transfer the Business:
In most of the cases, the owners of the business look to transfer their ownership to another
member. This happens when one of the business partners decides to leave the company and
while the other still wishes to continue. Franchise businesses as well as family businesses are
usually the ones that use transfer of business. The actual owner should take legal help of the tax
department as well as legal authorities in order to transfer their business in a legal manner.
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Conclusion
This assignment has been done in order to provide a proper plan to Milton Sandford Wines. With
the help of this assignment, a business plan has been formulated with the help of which the
company will be able to develop and perform their business successfully in India. Besides this,
different growth options have been discussed and they have been linked with Porter’s generic
strategy and Pestle analysis. Ansoff’s growth vector matrix has been used in order to ensure that
the different growth opportunities are properly linked with the competitive advantage of the
company. Different financial resources have been discussed that will help in the company’s
funding.
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