This document provides a comprehensive business plan for Masque, a company that specializes in producing organic cloth masks for hygienic protection during COVID-19. The plan covers various aspects such as the business summary, aims, financial summary, market research, marketing strategy, and competitor analysis.
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Welcome The Business Plan You’ve got a business idea. You’ve decided to start a business. You want to get going. But there’s a lot more to a good business than a good idea. You need to think things through to maximise your chances of success. Are you the right person to run the business? Will customers like your product? A business plan will help you turn an idea into a business. It needs you to think through all the parts of your business to plan how everything will work. It will take a few weeks to write if you’re going to do it properly. Some parts will be easier to complete than others. Stick at it because it’s not the final document that’s important, it’s the process. Although you want to have a good plan when you’re done, an OK plan is better than no plan. The Prince’s Trust Business Plan Pack The best business plans aren’t long and complex; they explain only the most important information – what you want to achieve, how you will get there and the things you need to do along the way. It’s best to tackle a business plan in small chunks. The Prince’s Trust Business Plan Pack can help. This is The Business Plan divided into sections to help you develop your business idea. You can use the information in The Guide to help you complete the sections. Some of the sections of The Business Plan have tables to record the financial parts of your business. The tables are also available in MS Excel format and the sums in these are automatic. The Prince’s Trust Enterprise Programme The Prince’s Trust has helped many young people to complete their business plans and start their own businesses. If you are aged 18–30 and unemployed or working fewer than 16 hours per week, then we might be able to help you. We have offices throughout the UK and in each there is a team of Enterprise Programme staff. To take part, you need to be interested in self employment and have a business idea that you would like help to test and explore. The programme can then help you to see if your business idea will work and whether self employment is right for you. If through this process you find out it is, the programme can offer mentoring support and, if you really need it, financial support to start your business. However, if self employment turns out not to be the right option, the programme can offer support to secure other goals in employment, education, training or voluntary work. We can’t guarantee that your business will work or that we will be able to offer you money, but if you are up for a challenge and want our help to explore your business idea, get in touch and come and meet us.
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Getting started Whose plan is this? Business and owner details: The business is based upon the organic cloth mask which is now a need for every people because of COVID-19. Owner detail: Mr. Joi Sochiny who run a small and medium business and now looking for a new business plan as per analyzing the situation. Business name: the name of a business is Masque Owner(s) name: Mr. Joi Sochiny Business address and postcode: 10, dowing street London SW 1A 2AA Business telephone number: +447911123547 Business email address: masque@hotmail,com Home address and postcode (if different from above): same as above Home telephone number (if different from above): Same as above Home email address (if different from above):
Section one Executive summary 1.1 Business summary: The current business is based upon production of mask with an organic clothes which in turn help people to be hygienic. It is actually manufacture for safety purpose because as per the current situation, it is mandate for the people to wear mask to protect themselves. So, there are variety of mask available in the market but all of them have their pros and cons. After reviewing scientist views, it is analysed that people should use mask which is made up of organic cloth that help to inhale and exhale properly. That is why, this current study will help to determine the feasibility of new business plan by determining all the key aspect. 1.2 Business aims: The aim of the business is to provide best quality of product to their customers so that they grow up with the situation of COVID-19. 1.3 Financial summary: company has been involved in making sure that the cost and expenses related to making of organic product do not increase. Company will be able to meet its cost and expenses from the revenues generated. It will achieve the set objective in 1 year.
Elevator Pitch 1.4 Your business name: The name of a business IsMasquewhich is another name of mask used in different language so that people will understand what a company sells. 1.5 Strapline: “lets protect the people from virus” 1.6 Elevator pitch: The business “Masque” wants to sell the mask which is made up of organic clothes because there are different advantage of wearing the same and for that best material is used which in turn provide pleasing breathing experience to all the customers. The basic idea of introducing this product is such that now scientist state people should use disposable mask and that is why, introducing organic mask will help individual to free from issues which they face while wearing normal mask or N-95 mask.
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Section two Owner’s background 2.1 Why do you want to run your own business? The basic motive to run a business is to become a successful entrepreneur and this will help to earn profit as well. It is possible when the owner provide innovative product to their customers. 2.2 Previous work experience: Working as an service provider in small retail shop 2.3 Qualifications and education: Master degree is management 2.4 Training: Had already diploma course in management and good experience in managing items in a business Details of future training courses you want to complete: Learn to gain operational skills and will complete the training related to Root causes analysis 2.5 Hobbies and interests: Explore new things and introduce new items in market interact with people in order to learn new things from them. Listening music and news 2.7 Additional information: No
Section three Products and services 3.1 What are you going to sell? a product a service both 3.2 Describe the basic product/service you are going to sell: The basic product which Masque wants to sell is organic cloth mask in which specific material is used i.e. vegan organic cotton linen hemp cloth that are easily washable and provide pleasing breathing experience to the customers. 3.3 Describe the different types of product/service you are going to be selling: As there are different types of mask, sanitizer also offer to the customers as per analyzing the situation of COVID- 19. These all product are low in cost but high is quality such that sanitizers are sold at reasonable rate with high alcohol content as per the demand of customers (Quek and Finkbeiner, 2016). 3.4 If you are not going to sell all your products/services at the start of your business, explain why not and when you will start selling them: If all the product are not sold at the starting of a business, owner will send them after 20 days of working. It is so because organic cloth mask is the basic need of people now as compared to normal mask and sanitizers. That is why, offering the needy product will help to determine the views about shop and this in turn assist to sustain the brand image as well. 3.5 Additional information: Company may also add more safety related product when the business help to increase the financial performance.
Section four The market 4.1 Are your customers: individuals businesses both 4.2 Describe your typical customer: The customers for this brand is all age people right from the age 0 to 90 or more and middle and lower class people. It is so because mask is now the basic need of customers and that is why, targeting all the customers is essential which in turn help to meet the define aim of the company. 4.3 Where are your customers based? The customers are based within country and after the stability of the company, it also start offering online product which in turn leads to sustain the brand image because it offer the product at global level. As per the current situation, company target people who are based on UK (Wang and et.al., 2019). 4.4 What prompts your customers to buy your product/service? Because of availability of organic cloth face mask which do not have any disadvantages prompts the customer to buy the product easily. Also, because I different offers and timely delivery of product helps the company to buy the product. 4.5 What factors help your customers choose which business to buy from? Low price:If the product price is low then it will help to attract the range of customers. As Masque is also offering the product at low cost of face mask and sanitizer product which in turn lead to meet target as well. Best customer service:As Masque gas a good customer service and that is why, it will help to feel like they make a difference and that is why, it assist to meet the define aim. Marketing:it uses social media marketing channel and some traditional tools like newspaper, magazine which in turn leads to promote the new offered product in market. Thus, effective marketing also help the customer choose which business to buy (Feng and et.al., 2020). 4.6 Have you sold products/services to customers already? yes no If you answered “yes”, give details: 4.7 Have you got customers waiting to buy your product/service? yes no If you answered “yes”, give details:
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4.8 Additional information: The business is completely based upon organic cloth face mask which is a new concept and that is why, it is analysed that customer will definitely purchase the product. Section five Market research 5.1 Key findings from desk research: As per the secondary research it is analysed that infection is increases speedily and that is why, there is a need to manufacture the product related to health and safety. So, in every country mass production of PPE and face mask, sanitizer is started as per the demand of customers. In the context of face mask, different company offers range of mask by determining the need of customers and this in turn clearly shows that opening a business of organic face mask is beneficial because it will assist to increase the business sales (Worby and Chang, 2020). As per the data available, there are thousands of face mask production is started which shows that it is mandatory for the people in order to protect themselves from COVID- 19 and most of the people are also uses recyclable mask and mask which is made up from cotton clothes. 5.2 Key findings from field research – customer questionnaires: Q1 – Do you wear masks ? Q2 – What types of masks you wear ? Q3 – What price do you prefer for the masks? Q4 – What kind of material is preferred for the masks ? Q5 – How frequently do you change your masks ? Q6 – Which mask do you presently use ? Q7 – Which variety of mask is preferred for use ? Q8 – Do you prefer organic mask ? 5.3 Key findings from field research – test trading: It could be evaluated from the research finding that people mostly prefer the masks that are comfortable and in which they could breathe properly. People are not presently using organic masks but are ready to accept the masks that are good in quality. Study provides that people are ready to pay around£20 -£30 for the face masks. People use the masks for maximum 15 days after which they change their masks. People are presently using masks that create rashes and marks over face. Every individual is wearing mask today. 5.4 Additional information: People are accepting different designs of masks that looks attractive as it has become essential thing for everyone. Mask are also seen as fashion trend and are requiring business to make designed masks of good quality that do not creates rashes on the face.
Section six Marketing strategy What are you going to do?Why have you chosen this marketing method? How much will it cost? 1.Social Networking 2. Point of purchase marketing Social marketing is most successful and used marketing strategy by the business for promoting their business. Today social networks are used by large population that will enable the organisation to market the masks over greater area. Social networks also create group influence that could prove to be beneficial for company Point of purchasing is chosen as business has to promote the product from where it is sold. Business is started over small scale therefore it has to promote the sales from the shopping centres. 150 250 TOTAL COST400
Section seven Competitor analysis 7.1 Table of competitors Name, location and business size Product/servicePriceStrengthsWeaknesses 3M companyThe manufacturing of the N95 mask.It offers face shields and N95 masks. £22.It is considered to be one of the largest manufacturers of the surgical masks across the globe (Kumar and et.al., 2020). It has strong research and development capability and also complying with the CSR activities. Varied set of competitors are present in the market which leads to reduced sales and profitability. Honeywell companyIt offers range of products and services like N95 mask with and without valves,personal protection equipment, non- disposable respirators, cartridges, mask filters, etc. £20It is considered to be as one of the top N95 mask manufacturing company and has global presence in different countries. Low set of technology with the key competitors and need to improve the technology integration within the organization for better functioning (Kyung and et.al., 2020).
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Name, location and business size Product/servicePriceStrengthsWeaknesses Louis M. Gerson Company, Inc. It offers range of products and services which mainly comprise of dispensers, respiratory mask, bags, filters, spreaders, tack cloth, N95 mask, etc. which helps in offering varied range of products to the company. £19The company is considered to be ISO certified i.e.,9001:2008 for the respiratory protection. It helps in controlling the infection control products which helps in establishing the market share. There are large number of competitors who in turn are present in the market. This reduces the sales and profitability of the company.
7.2 SWOT analysis : Strengths 1.The Masque company key strength is that it provides organic cloth mask to the people. 2.It leads to higher sales and manufacturing of theorganic cloth mask in the time of COVID 19 pandemic (Kyung and et.al., 2020). 3.The Masque company offers organic cloth mask to the customers which in turn is highly significant in using and throwing the mask on the same day in order to maintain personal hygiene. 4.It has its own unique set of idea which is highly significant in attaining the market position. 5.The united Kingdom is focusing on adopting the single use of the disposable products which is highly significant in increasing the sales. Weaknesses 1.It does not have a global presence. 2.The people are not completely aware about the organic cloth mask. 3.Lack of resources and changing laws within the UK is one of the key weakness which highly affect the working of the company. Opportunities 1.The Masque company has advantage over the competitors because it offers organic cloth mask. 2.The demand for the organic cloth mask is considerably high. 3.There seems to be an emerging need of the organic cloth mask which eventually leads to higher operational growth, performance and productivity. 4.The Masque company understand the need of the organic cloth mask and helps in creating high set of growth within the market and position their product. Threats 1.Large number of competitors are present in the market which in turn might influence the operations of the business (Kumar and et.al., 2020). 2.Changing attitude and preference of the customers can adversely influence theMasque company. 7.3 Unique Selling Point (USP): Unique Selling Point (USP) This is one of the key significant measure which is useful in effectively differentiating the products from the competitors. The Masque company in turn tends tooffer unique set of products and services which is highly significant in providing the organic cloth mask to the customers. The organic
cloth mask is considered to be highly significant in protecting the customers from unhygienic range of products. The company also focuses on offering disposable organic cloth mask in order to maintain proper hygiene level especially in this time of COVID 19 pandemic (Pompeii and et.al., 2020). The Masque company mainly focuses on selling their products from the personal website. The company also focuses on effectively improving the sales of the company by selling organic cloth mask online. The company focuses on selling the products at the door step by complying with optimum level of hygiene. The Masque company tends to make people aware about the range of products and services which has been offered on the various social media platforms. Proper marketing about the products and services offered by the Masque company through various social media platforms like Facebook, YouTube, Instagram, social media marketing, search engine optimization is highly significant in effectively improving the sales of the Masque company. Unique selling point of the Masque company is significant in improving the performance and productivity.
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Section eight Operations and logistics 8.1 Production: Business is producing face masks after the pandemic of COVID-19. Production of two different mask will be carried out by the organisation that are simple masks of good quality and organic masks. Both the masks are of high quality materials in which customers will not face breathing or skin issues. 8.2 Delivery to customers: Masks have be purchased from the stores offline by visiting the stores and picking by self. The masks will be delivered over online mode once the business achieves the defined sales target. Till it reaches the benchmark level it will be selling over offline mode from the stores/ 8.3 Payment methods and terms: Payments for the masks could be made over both the online mode and offline mode. Online modes will include all the platforms through which payments could be made and by cash in offline mode. 8.4 Suppliers: Name and location of supplier Items required and prices Payment arrangementsReasons for choosing supplier Maxx Clothing Star company Vagen Organic materials Cheques Cheques Supplier provides the best quality cloth material for making masks by company at most reasonable prices. It is the only supplier providing organic material at reasonable prices for the products in the region. 8.5 Premises: Factory for producing the masks will be taken on rent and also store to sell the mask will be taken n rent. Masks will be produced and sold at different places. 8.6 Equipment If being bought Item requiredAlready owned?New or second hand? Purchased fromPrice Mask plant NoNewIt will be purchased from Wilson Machineries that Price =£ 5000
makes machines as per the customer specifications. 8.7 Transport: Materials are bought from the suppliers that are existing in the same regions therefore they will be transported by local transport services. Second supplier of organic materials will also be sending materials by local transport services. 8.8 Legal requirements: It has to comply with legal requirements related to establishing company and to comply with other statutory requirements for selling the masks to customers. Payment of taxes and other charges for carrying on business 8.9 Insurance requirements: Business will be insured from Axis insurance company for the inventories and machineries. 8.10 Management and staff: It will be recruiting 4 staff where one will be manager and 3 will be employees. Staff will be increased as the business grows to meet the requirements of business. 8.11 Additional information: It will start with one store and add new stores with the demand of customers and revenues raised. Payment for transporting the supplies to factory will be paid by the suppliers.
Section nine Costs and pricing strategy Product/service nameOrganic Face Mask ANumber of units in calculation20000 B Product/service components Components cost Organic material - 14 Threads – 1 Printing and designing - 3 CTotal product/service cost18 DCost per unit18 EPrice per unit22.5 FProfit margin (£)4.5 GProfit margin (%)25% HMark up (%)20%
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Section ten Financial forecasts 10.1 Sales and costs forecast Month123456789101112TotaL AMonth nameJanuar y Februar yMarchAprilMayJuneJulyAugustSeptem ber Octobe r Novem ber Decem ber Sales forecast BProduct/service Organic Face Mask14001400160016001600160016501650150015001800180019100 CProduct/service Hand Sanitizers4004004204005005006506504504507007006220 Costs forecast DProduct/service280002800032000320003200032000330003300030000300003600036000382000 EAssumptions (e.g. Seasonal trends)It is assumed that sales of masks will increase gradually over the period.
10.2 Personal survival budget SectionMonthly cost (£) A Estimated costs Mortgage/rent200 Council tax50 Gas, electricity and oil80 Water rates15 All personal and property insurances20 Clothing100 Food and housekeeping250 Telephone50 Hire charges (TV, DVD etc.)0 Subscriptions (clubs, magazines etc.)100 Entertainment (meals and drinks)75 Car tax, insurance, service and maintenance25 Children’s expenditure and presents300 Credit card, loan and other personal debt repayments150 National Insurance60 Other BTotal costs (£)1340 C Estimated income Income from family/partner300 Part time job600 Working tax credit0 Child benefits150 Other benefits100 Other0 DTotal income (£)1150 ETotal survival income required (£)1500
10.3 Cashflow forecast Month Pre- start123456789101112Total AMonth nameJanuaryFebruaryMarchAprilMayJuneJulyAugust Septemb erOctober Novemb er Decemb er Money in (£) B Funding from The Prince’s Trust70007000 Funding from other sources30003000 Own funds10001000 Incomes from Sales315003150036000360003600036000371253712533750337504050040500429750 Income from sanitisers6000600063006000750075009750975067506750105001050093300 C Total Money in (£)11000375003750042300420004350043500468754687540500405005100051000534050 Money out (£) D Loan repayments The Prince’s Trust5005005005005005005005005005005005006000 Personal drawings3503503503503503503503503503503503504200 Suppliers280002800032000320003200032000330003300030000300003600036000382000 Utilities4004004004004004004004004004004004004800 Rent5005005005005005005005005005005005006000 Insurance4104104104104104104104104104104104104920 Power4504504504504504504504504504504504505400 Advertising4004004004004004004004004004004004004800 Taxes12001200120012001200120012001200120012001200120014400 E Total money out (£)322103101035010350103501035010360103601033010330103901039010418120
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FBalance (£)5290649072906990849084901086510865749074901199011990115930 Opening balance500579012280195702656035050435405440565270727608025092240104230 Closing balance579012280195702656035050435405440565270727608025092240104230220160 10.4 Costs table Cost itemWhat is included and how you worked it outTotal cost 14Organic MaterialIt includes the raw material used and it is at price quoted by supplier.28000 2MachineIt includes power which is measured on the basis of machine hours worked.2800 1BottlesIt includes the bottles of sanitisers and its is measured at cost quoted by suppliers.450 15ChairIt will include the cost of purchasing chairs and it is the purchase price150 20TablesIt is also worked at invoice price400 5fansIt is also worked at invoice price200 5lightsIt is also worked at invoice price100 4curtainsIt is also worked at invoice price60 3fire extinguisherIt is worked at invoice price50 2CCTV cameraIt is also worked at invoice price30 2swiping machineIt is also worked at invoice price40 2telephoneIt is also worked at invoice price50 Section eleven Back-up Plan
11.1 Short-term plan: The short term plan for enhancing the growth of business related to organic face mask will be that free samples will be provided to consumers so that they will be able to know about the benefits of making use of this mask. This will assist the firm in increasing sales of the organic face mask. 11.2 Long-term plan: The long term plan will be to engaged in with a brand so that more consumer will be involved in buying the organic face mask. It will help the firm in increasing their profitability. 11.3 Plan B: The plan B will be if the short and long term plans failed to provide free sanitizers with the organic face mask and also relevant discount will be provided to consumers for the purchase of any other product. 11.4 Plan B continued...: The plan B will also include selling of the organic face mask by engaging in doing celebrity endorsement. This will assist in increasing their profitability as well as revenue.
REFERENCES Books and Journals Pompeii, L.A and et.al., 2020. Training and fit testing of health care personnel for reusable elastomeric half-mask respirators compared with disposable N95 respirators.Jama,323(18), pp.1849-1852. Kyung, S.Y and et.al., 2020. Risks of N95 face mask use in subjects with COPD.Respiratory Care,65(5), pp.658-664. Kumar, A and et.al., 2020. N95 mask decontamination using standard hospital sterilization technologies.medRxiv. Quek, G. L. and Finkbeiner, M., 2016. The upper-hemifield advantage for masked face processing: Not just an attentional bias.Attention, Perception, & Psychophysics.78(1). pp.52-68. Wang, Y. and et.al., 2019. Face mask extraction in video sequence.International Journal of Computer Vision.127(6-7). pp.625-641. Feng, S. and et.al., 2020. Rational use of face masks in the COVID-19 pandemic.The Lancet Respiratory Medicine.8(5). pp.434-436. Worby, C. J. and Chang, H. H., 2020. Face mask use in the general population and optimal resource allocation during the COVID-19 pandemic.medRxiv.