This business plan outlines the abilities of SlideFoot Technology, its market, competitors, financial forecast for 2021-2023, marketing strategies, and challenges related to competition, sustainable development, rapid changes in technology, and other risks.
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Executive Summary The SlideFoot Technology, a limited liability company would try to obtain initial investment in terms for share in the business. Furthermore, there would be an outline of the abilities of Slideon and crucial aspects of the company such as company designs, structure, market, competitors etc. This paper will demonstrate detailed information about Slideon and the process of its starting along with a financial forecast for financial years 2021 to 2023. It will include the profit and loss statement along with the break even point for its services. The report will illustrate about company's design, marketing strategies along with pricing, advertisement, promotions etc. Moreover, It will demonstrate the challenges related to competition, sustainable development, rapid changes in technology and other risks and how to cope with them. It shows about the sustainable approaches adopted by BNT to achieve environmental and socio economic milestones. Along with this, the business plan will discuss about favourable harvest strategy of the company to provide best services for corporate, education, government and healthcare development companies.
Table of Contents Executive Summary.........................................................................................................................2 INTRODUCTION..........................................................................................................................1 MAIN BODY...................................................................................................................................1 Description of the Entrepreneurial Venture...........................................................................1 Management Style and Structure............................................................................................2 Marketing Strategy.................................................................................................................3 Competitor Analysis and Positioning in Relation to Direct and Indirect Competitors..........4 CONCLUSION................................................................................................................................6 REFERENCES...............................................................................................................................7
INTRODUCTION Business plan refers to a detailed plan for starting a business that includes the mission, vision, aims and objectives of the business and strategy to achieve them. The report will consist of a business plan for starting a business in the software development for corporate, education, government and healthcare development companies. The report will include, business start-up relatedaspectsincludingstructure,marketing,socio-economicconditions,financesand sustainability management and strategic planning. MAIN BODY Description of the Entrepreneurial Venture The Idea to develop Slideon technologies came in from the idea to develop sustainable means of transport to travel short distances on foot. If we want to reach a distance of 1-2 kilometres then the use of personal vehicles causes pollution that is equal to the clean air we breath in a day(Monin, 2018). The company will be formed with the collaboration of Slideon and Nivia Sports and with the help of this the company will focus on developing its market with the help collaboration. The stores and outlets of Nivia will help the company to place its product in the market without much marketing. The product initially will be available at few stores of company as per the demand of the customers and gradually it will cover the other outlets. Goals of the business The main aim of the innovation is to provide sustainable means of transport for short distances in order to reduce the ill effects of using vehicles to travel short distances. In order to improve travelling by foot with the help of solar powered attachments for the shoes and bring convenience in reaching distances on foot. This could help to reduce pollutions caused by the use of vehicles to travel sort distances with the help of sustainable Idea of this invention(Ayub, 2018). Speciality of Product Theuse ofinnovativetechnologytoespeciallydesigntheseelectricrollerskates attachments had made it smaller in size that uses wireless or solar power charging of the to help 1
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us travel long distances with minimum power. The design of the product would be little differentiated to that of skates so that it would be easy to use, the motors would give average speed of 18.5km/h that is decided to keep people safe. Although the regulator could help the user to adjust the speed of motors from 12km/h to 24km/h as per their requirement. Future of the product With the introduction of these automated electric skates the market of teenage and younger adults would be more desperate because they are more dare to check and test new gadgets. The productsare mainly for the people who are educatedand understandsthe drawbacks of using vehicles as a means of transport for small distances(MARANI, 2021). With the introduction and testing of the prototype, eagerness of people were also brought to test and results were strong willingness of them to use it. Slideon would be making its products of marginal rates that would be easily accessible by various income groups and the size of the product would be small so that it can be carried to any place. Management Style and Structure The company will own the trademark of Slideon logo, the slogan 'Slide with Slideon – for small distances' and the businessname. Starting with the financing of the business with the source of share capital investments and based on the income and business potential we decide to become a separate legal entity 'Slideon Corporation'. The management style of the company would be similar to the hierarchical system of Nivia based on the scientific principles of management. The management would be mainly including the mangers consisting of marketing manager, sales manager, production manager etc. Vision and mission of the Firm The Slideon would focus on being the technological giant in developing sustainable means of transportation. Run by a passion of well being and good health that could be accessible to everyone and inspired to have a positive social and environmental effects(Atang, 2018). The company would want to create best use of technology in the sustainable growth of transport and convenience in travelling to short distances on foot. The mission would be to 2
enhance technology and sustainability wherever an person goes. The company wants to ensure the sustainable development of transport and enhance the travelling of people on foot. Marketing Strategy The marketing strategy can be explained as the strategies of business to market their products and gain competitive advantage(Janíček, 2018). The 4Ps of marketing can be adopted by the company to to market its products in efficient and effective manner. The 4Ps of markketing mix are elaborated below-Product:It states how a product can be made different from the products that are available in the market. The company had made the product which is highly advanced technology with the help of direct current motors that make the product different.Place:If the company cannot make their product different they may try to place their product at different location. Slideon would make the product available through various outlets, online market and e-commerce sources to cover more area.Price:The another aspect of marketing is making the price of product that is most alluring to the target market of the company. Slideon focuses on keeping the price of product lower by getting supplies at cheaper rates. Promotion:It refers to creating awareness for the product in the market. The company would utilise various promotion techniques that will include social media, track races and online marketing to increase the sales of its products. Target Market and Market Segmentation The target market of the product would be youngsters, those who are educated and eager to try new thongs(Kolhoff, 2020). The target market is similar to that of Nivia Super Incline that helped with our marketing strategy. Moreover, the market segmentation of Slideon will help to expand its presence across multiple countries. DemographicPsycho-graphic Young adults, teenagers medium and higher income group Values sustainable development aware of environment 3
sustainability conscious educated Values quality lifestyle geographicBehavioural Living in cities with well developed roads Sportsshops,megastores,general stores Brand association Quality of products at cheaper rates Convenientinthebigcitieswhere traffic is high Market Size and Trends The development of such products in future is expected to grow with constant rise in awareness of people about the impacts of pollution on their lives. The people would also be using this innovation for the sake of sustainable development and travelling to nearby areas. The market of electronic vehicles would be growing that would lead to further advancements in this technology and would rise its availability across the market(Kailer and Weiß, 2018). The concernsabouttheenvironmentalaspectswouldsignificantlyhelptheproducttogrow constantly in the upcoming years.Slideon is expected to attain 30% of market share by the end of third year with the help of advanced technology to stay ahead of competition. Competitor Analysis and Positioning in Relation to Direct and Indirect Competitors In the market the competitive factors for such products are many that may affect the performance of the product in long run. The technology is advanced and very few competitors in the market exists for the automated skates that would give strong advantage to the Slideon. The disadvantage would be related to the lack of knowledge and practice among people about to use the product in the best way possible. The market of Slideon will focus on covering the sports market and the mega stores to place its products for purchase and it will also utilise various online platforms and e-commerce channels for making its products available to larger segment of public. The direct competitors in the market would be mainly the pre-existing brands that would try to bring new advancements in their products to make similar changes in technology (Langgong, 2018). The poisoning of the product would mainly include the sports market, e- commerce platforms and online market. The main people who would be at the focus for placing 4
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the product would be the young ones and the teenagers who search for new technologies to improve their lifestyle. Financial Analysis Profit and loss account ParticularsYear 1Year 2 Sales250000350000 Less: cost of goods sold4000050000 Gross Profit210000300000 Less: Expenses00 Administration expenses5000055000 Selling and distribution expenses6000060000 Fixed Expenses7500075000 Operating income25000110000 Add: Indirect income4500020000 Net Profit70000130000 Key Risks and Challenges Identified Risks and challengesPotential solutions to cope up Strong competition in the sports technology market Continuous market and competitor analysis would offer the right product to right segment of population at the correct place. Fast growth of Innovations and technologiesSldeon would need to constantly look after thesechangesandcontinuouslyimprove technologywiththehelpofresearchand development on prototypes. Increasing awareness of environmental issuesResearch into renewable materials and clean 5
and demand for more sustainable optionsenergy in order to decrease the harmful effects would be the option for company to improve and advance faster than its competitors(Mohd Gous, 2020). International operations may create legal and transportation problems To endure smooth operations of the business the company should be well aware of the legal changes in the international market. It could also ensure compliance of the trade laws and restrictions in order to gain smooth flow of business. CONCLUSION In the above report there had been a discussion of a business plan for an organisation that deals in development of advanced technological inventions to enhance sustainable development. There had been an explanation of business, its goals, product and future of the company. Moreover, the report had been analysing the market of the company and its target audience with the help of various demographic factors. Along with it, there had been a marketing plan prepared for the business which consists of the market strategy for sales, distribution and advertisement of the of the product. Also, it had been providing the financial plan for the development of the business in the upcoming years. 6
REFERENCES Books and Journals Atang, E. A., 2018.Business plan on plus size clothing online store(Doctoral dissertation, Universiti Teknologi MARA). Ayub, H., 2018.Business Plan of'MD2'Pineapple Production(Doctoral dissertation, Universiti Teknologi MARA Cawangan Sarawak). Janíček, J., 2018.Podnikatelský záměr-založení marketingové agentury se zaměřením na affiliate marketing:AffiliateMarketingAgencyBusinessPlan(Doctoraldissertation,Brno University of Technology). Kailer,N.andWeiß,G.,2018.Gründungsmanagementkompakt:vonderIdeezum Businessplan. Linde Verlag GmbH. Kolhoff, L., 2020. Businessplan. InExistenzgründung in der Sozialwirtschaft(pp. 139-144). Springer VS, Wiesbaden. Langgong, G., 2018.Business plan for grinding and packaging of pepper products for retailing market(Doctoral dissertation, Universiti Teknologi MARA). MARANI, T., 2021. Il Business Plan come strumento per lo sviluppo delle start-up: il caso Satispay. Mohd Gous, A.A., 2020. Business Plan: Catzonia. Monin, C. C. M., 2018.Le Cocoon-coworking: innovative business plan(Doctoral dissertation). 7