Best Booster: Immunity Booster Drink for Fighting COVID-19
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Added on 2023/01/05
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Best Booster is an organic drink that helps boost immunity and fight against COVID-19. The business aims to provide a distribution system for their immunity booster drink and requires a seed capital of £40,000.
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Section One Scenario:A:B:C: Business Overview 1.1 Business summary:Please write business outline. (who,what,where, When and how) The business idea is initiated for the start-up is Best booster which is an immunity booster drink which can be helpful for people to deal with infections and managing risk of contagious diseases. The main reason behind this business idea is to help people to fight against COVID-19 and provide them healthy products as well. COVID-19 is a life and death battle so best booster is providing healthy beverage named Organwise in order to intensify immunity of people so that they can minimise risk of COVID and enhance their immunity as well. The major focus of the drink is to boost immunity of people so that to overcome from threat of COVID. The vision of the company is to manufacture such organic drink which may help in minimising risk of virus infection and helps in enhancing immunity so that to manage fight against COVID-19. On the other hand this drink prevents a person to deal with various bacteria and viruses as immune system is defined as defensive part of the body. 1.2 Describe your core product or service: The major product of the company is organic drink which could help people to boost their immunity and to create strength of fighting against COVID. The major drink named Organwise is prepared by the company in order to give better immune system to their customers. The vital nutrients for the products are Protein, fish oil, Vitamin A, D and C, probiotics and catechins. The company is dealing only in immunity booster drink as in current time high market needs are existed for the same. For this company is adopting prominent channel of distribution so that to deal with huge clientele in short period of time. 1.3 Yourimmediate and future business aims: Future business aim for Best booster is to provide better distribution system to their immunity booster drink so that to minimise threat of COVID. This is seen that people likely to get COVID when they have low immunity and this drinks leads them to intensify their immunity. According to a survey conducted in June 80% of consumers was facing fear of COVID in which 23% consumers were not getting enough vitamins and supplements in order to deal with their this threat. So in order to deal with this problem Organwise drink is prepared and for this company the company is targeting those people who are aware regarding increasing their immunity. For this purpose 7 segments over the worldwide periphery is being selected including WesternEurope,EasternEurope,LatinAmerica,NorthAmericaandAsia- PacificexcludingAfricaandMiddle-East. Besides this target age for the company is 50-80 years as this age group generally laced with lower immunity system. 1.4 Please state the amount of seed capital required: (Up to a maximum of £40,000) The company is investing £40,000 as their initial outlay and willing to earn Grossmargin of $320,000bytheendof2023.
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Section Two Management structure. 2.1 Professional team skills: (Outline individual team members transferrable and professional skills). In terms of boosting business after impacts of Covid-19, it is important to make effective teams and groups within organisation so as to obtain business objectives. Teams members needs to posses group skills such as effective communication and convincing skills that has prominent impact in influencing customers for make a purchase, leadership skills so as to enhance employee’s moral and motivate them for better performance and productivity. Team members also need to have effectual financial managements and marketing, selling and customer dealing skills & knowledge so as to balance business operation and eliminate the impacts of Covid-19 over business performance. 2.2 Each team member’s roles and responsibilities: For accomplishment of future objective of business in effective manner it is important for members of each group to perform their roles and responsibilities in effective and efficient manner. There are different roles for teams members like execution of all tasks and duties assigned by top management within specified schedules and obtain required standard of performance. Teams members are also be liable to maintain cooperation and coordination with teams in order to achieve daily, weekly or monthly targets. Another important responsibility of members of teams or groups is to work for common business objectives over personal motive. 2.3. Identify your company’s skill gaps, then chose one role and create an advert with the skills required and their roles and responsibilities. Skill gap is refers as the difference between skill which is acquired and desired skills. Skills plays significant role in effective achievement of tasks and duties assigned to members of every team with setting of some performance standards. There is a lack of essential skills between members of group that creates barriers for success of business idea. For instance lack of strong project planning needed for successful accomplishment of business goals, delegation of tasks as per required skills & interest of employees, lack of proper time management may leads to failure of business plans. Another important skill lacks in business is problem solving and networking skills. Thus, for successful business plan it is important to built greater skills between team members.
Section Three The market/customer profile. 3.1 Describe your target market profile and whereare your proposed customers based: The target group of customers for Best Booster is not limited to specific category of people or demographic. For instance target customers of it can be male or female from any group. The main focus of best booster is to provide juice for old people from the age category between 50-80 years old as their immune systems are weaker. The impact of aging on immunity is flaws over several levels for instance dismissed functions of lymphocytes in lymphoid tissues, minimise production of B&T cells in thymus and bones marrow. As results people fails in responding towards immune challenge as vigorously as the young.So as to make future business plan successful Best Booster targets people from old age due to their weak immune system. 3.2 Describe your perceived competitive advantage/USP: Major competitors of Best Booster are LLC, James White Drinks, Evolution Fresh, Santa Cruz Organic, Suja Life, Uncle Matt’s Organic, Parker’s Organic Juice Pvt Ltd and some more that are re- owned players. Use of essential vitamins in best Booster drinks helps to gain competitive benefits over rivalries. These essential vitamins includes proteins, fish oil, vitamin A, C, D, probiotics and catechins that has prominent impact over human health and leads to stronger immune systems of people.
Section Four Marketing 4.1 Explain your market research with references, Using primary and secondary research. Provide a questionnaire with 5 suitable questions and state the objective of said questions. The most suitable market for Best Booster is London borough of Redbridge in order to establish business start-up in front of mankind who are seeking for organic drink constantly in order to boost their immune system. This is best place to find customers for whom product is made. On the basis of regional segment of market the organic juice market is divided into 7 segments throughout the world such as- Eastern & Western Europe, Latin America, North America, Asia Pacific Excluding Africa and Middle-East. Currently demand for immune booster drinks is increased in UK, US, Germany, France, India & China due to huge impact of Covid- 19 in health of general public of respective nations. Research for start –up should be based on both secondary data so as to save the time and cost of business based on questionnaire that contains some questions asked to target customers.
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4.2 Competitor analysis (Based on your market research, analysetwo key competitors and explain how your business will compete with them) (You may consider a SWOT here) Competitors of Best Booster Santa Cruz Organic: It is organic is a pioneer organic brand was known as first company who offers customers a wide range of organic drinks since1972. Known for healthy and economic benefits to organic agriculture. Best Booster faces strong competition with it due to higher product and service offerings of it towards potential customers. Uncle Matt’s Organic Inc.:It is nation’s organic orange juice company based in California and developed in 1970. It offer natural food and drink products to customers from more than 20 years. It is associated with aim as to growing a healthy generation through organic forming. It is also a strong competitor of Best Booster drinks for strengthen immune system of people. Best booster have significant benefits in order to take competitive advantages over above competitors as well as some local competitors are strengthen with following swot analysis: SWOT Analysis Strength Offering of affordable goods and products. Having skilled & capable leaders with effective motivating capabilities. Suitable locations for creating awareness. Unique & first producer. Weaknesses Capital investments are not much good. New star-up consumes a lot of time. Requirement of recruiting staff & give training to them. Opportunities The aim of business is to fight with Covid-19 that brings huge opportunities. Coming with positive change in lifestyles. Generating employment for East London leads to growth opportunities. Threats Entry barriers are high due to huge investment times and efforts. Intense competition within sector brings threats.
4.3 Marketing strategy (In support of your business social media campaign, describe your marketing and branding strategy, with reference to researched materials. Identify the most appropriate strategies,(You may consider a 4 or 7ps etc.) Marketing mix:-it consists of four elements that plays significant role in successful start-up of business in order to enhance market share and profit of business. These elements are considered as follows: Product:In terms of successful implementation of this business strategy include use of proteins and vitamins in its product and goods in order to save the health of people and strengthen their immune system. Price:As per prices strategy Best Booster aim as to focus on affordable prices so as to make everyone easy to boost their immune system and stay healthy even in old age. This helps in rising customer base and sales volume. Place:According to place or distribution strategy Best Booster focuses on easy and affordable availability of its goods & products that raises market share as well as customer base. Promotion:Another significant element of marketing mix of business based on effective promotional strategies such as advertisements, direct selling, online marketing tools like websites so as to make product available at everywhere. 4.3b. How and where will you launch your product or service. The aim of business start-up is to launch or introduce its product “organise immunity booster” within next years through the medium of social media or launching it in local magazines.
Section Five Operations and logistics 5.1 Premises: For successful implementation of activities related to business start-up needs to purchase building and machinery in order to start production and display of respected product. 5.2 Equipment& Set up Costs: ProductAmountCost. Building$5,00,000$50,000 Machinery$2,00,000$20,000 Rent$100,000$10,000 Furniture$50,000$5,000 Land$5,50,000$55,000 Total$14,00,000$1,40,000 5.3 Transport needs: For delivery of goods and products from manufacturing to display in offline stores requires road transport medium and distribution from stores to customer needs 20 local distributors. 5.4 Legal requirements: In to implement business start-up successful it is important to make legal agreement based on partnership with other stronger brands. Partnership Agreement etc. 5.5 Insurance requirements: Best Booster needs business insurance in order to secure it from disasters and claim in case of accidents, it should also focus on insurance for labours safety who works under huge risk. Business Insurance etc. 5.6 Other required Certifications: For ensuring legal security and showing honesty towards product Best Booster needs to get certificate from legal agencies in order to have a legal proof for genuine work for society interests. 5.7 Fixed monthly Costs as per cash flow: ItemsCosts Mortgage$85,000 Rent$70,000 Property taxes$35,000 Tenant insurance$20,000 Utility bills$17,000 Lease$57,000 Vehicle insurance$25,000
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Section Six Costs and pricing strategy Product/service name ( Select a single unit)Organise Immunity Booster Cost to your business per unit$ 1,40,000 Price you charge per unit$40,000 Profit margin (£)$3,32,000 Profit margin (%) (Profit / Price x 100 = Profit margin) $8,300 Mark up (%) (Profit / Cost x 100 =Mark Up)$2,371 6.b Your Pricing Strategy: The price strategy for the project is lower pricing strategy based on affordable prices and mandatory discounts based on time and requirements of business plays significant role in attracting customers.
Section Seven Cash Flow forecasts 7.1 Realistic cash flow Sales and costs forecast, including next 3 years’ projections, assuming you’ve received the start-up fund’s you’ve requested. (Please edit to suit your need) Januar y Februa ry MarchAprilMayJuneJulyAugus t SeptOctNovDecTota l Sales 1: Loan$10,00 0 $12,000$13,00 0 $14,00 0 $15,00 0 $16,00 0 $17,00 0 $18,00 0 $19,00 0 $20,00 0 $21,00 0 $22,00 0 Investment.$9000$9500$10,00 0 $10500$11000$11500$1200 0 $1250 0 $1300 0 $1350 0 $1400 0 $1450 0 Total Sales:$5000$5500$6000$6500$7000$7500$8000$8500$9000$9500$1000 0 $1050 0 SET UP COSTS TOTAL $3000$5000$7000$9000$11000$13000$1500 0 $1700 0 $1900 0 $2100 0 $2300 0 $2500 0 Direct Costs:$250$300$350$400$450$500$550$600$650$700$750$800 Materials.$30$50$70$90$100$120$130$125$140$150$170$190 Stock.$20$30$40$50$60$70$80$90$100$110$120$130 Additional Staffing$25$27$29$31$33$35$37$39$41$43$45$47 TOTAL Direct Costs: $325$407$489$571$643$725$1097$854$931$1003$1085$1167
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Fixed Costs:$2500$3000$3500$4000$4500$5000$5500$6000$6500$7000$7500$8000 Salaries 1$45$50$55$60$65$70$75$80$85$90$95$100 Rent.$25$30$35$40$45$50$55$60$65$70$75$80 Rates$20$25$30$35$40$45$50$55$60$65$70$75 Staff Wages.$15$17$19$21$23$25$27$29$31$33$35$37 Utilities/Gas/Elect$10$12$13$15$17$19$20$21$23$25$27$29 Phones.$5$7$9$11$13$15$17$19$21$23$25$27 Freight & Postage$3$5$7$9$11$13$15$17$19$21$23$25 Stationary.$4$5$6$7$8$9$10$11$12$13$14$15 Promotion & Ad.$8$10$12$14$16$18$20$22$24$26$28$30 Website.$10$12$14$16$18$20$22$24$26$28$30$32 Accountant$50$60$70$80$90$100$110$120$130$140$150$160 Legal$20$30$40$50$60$70$80$90$100$120$130$140 Transport$10$15$20$25$30$35$40$45$50$55$60$65 Vehicles$20$25$30$35$40$45$50$55$60$65$70$75 Insurance$10$15$20$25$30$35$40$45$50$55$60$65 Maintenance$5$10$15$20$25$30$35$40$45$50$55$60 Computers.$7$8$9$10$11$12$13$14$15$16$17$18 Misc.$5$7$9$11$13$15$17$19$20$21$22$23 Loan repayment.$250$270$290$310$330$350$370$390$410$420$430$450 Interest on loan.$25$27$29$31$33$35$37$39$41$42$43$45 TOTAL:3017363742324825541860116603719577878378101599551 Sub Total:Fix + Direct Costs. 33424044472153966061673677008049871893811124410718 Net Profit:Sales – Sub total 1658145612791104939764300451282119-1244-218 7.1: Three-year projections, annual proposed sales and Net profit only
7.2 Notes to cash flow and projections: Cash flow preparation is important in order to balance the changes occurs in cash position within successful operation of project and ensure effectiveness in smooth operation of business statement. Conclusion: As per above project it is summarised that a fruit is a best medicine with having effective healing properties for protecting human body from illness, harms and diseases. During this time of pandemic Covid-19, building strong immunity is significant for boosting physical and mental well-being of human specially in testing at this pandemic time. Thus, the above plan for business start-up is based on drink “Organwise” made with organic raw materials containing all the essential vitamin supplements that affects human body in significant way that is helpful for strengthen immune system.
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