Business Plan: Assure Wireless Chargers - Market, Strategy & Finance

This document presents a comprehensive business plan for Assure Wireless Chargers, a UK-based company poised to launch its wireless charging solutions. The plan outlines the company's mission to provide economical, user-friendly, and ecological charging solutions, addressing the market gap for affordable and convenient wireless charging, particularly for travelers. It details the company's structure, including Charles Simpson as the sole proprietor and the financial backing through personal investment and a bank loan. The plan includes a market analysis focusing on smartphone users aged 15-44, a competitive analysis identifying key competitors like Chargifi and Samsung, and a marketing strategy emphasizing competitive pricing and promotional activities. Operational and financial plans, including breakeven analysis and projected financial statements, are also presented, showcasing the company's strategic approach to achieving sustainable growth and market penetration within the UK electronics market. Desklib provides this document as a valuable resource, offering similar solved assignments and study tools for students.

Running head: BUSINESS PLAN
Business Plan (Assure Wireless Chargers)
Name of the University:
Name of the Student:
Author Note:

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Table of Contents
Executive Summary...................................................................................................................2
General Company Description...................................................................................................3
The Opportunity, Industry and Market......................................................................................4
The Opportunity.....................................................................................................................4
The Industry...........................................................................................................................4
The Market.............................................................................................................................4
Strategy......................................................................................................................................5
Business Model..........................................................................................................................7
Team Management and Organization........................................................................................8
Marketing Plan.........................................................................................................................10
Product.................................................................................................................................10
Place.....................................................................................................................................10
Price......................................................................................................................................10
Promotion.............................................................................................................................10
Operational Plan.......................................................................................................................11
Financial Plan...........................................................................................................................12
Sources of Funds..................................................................................................................12
Breakeven Analysis..............................................................................................................12
Profit and Loss Projections..................................................................................................12
Balance Sheet Projections....................................................................................................13

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Projected Cash Flow Statement...........................................................................................15
Bibliography.............................................................................................................................16

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Executive Summary
Assure Company will be a company, based in the United Kingdom, which will sell
their first wireless chargers by the first week of July, this year. The main focus of the
company will be the customers who face issues of charging their phones, especially while
travelling. The company will be situated outside London and will comprise around ten
employees. Charles Simpson, with a background in Mechanical Engineering have been
planning to start up this business for a long time now and therefore, the business plan will
cover all the areas that are required to start a successful business. Charles is the sole
proprietor of this company and has invested around $20,000.
In addition to this, Charles has also taken a loan of $150,000 from the Royal Bank of
Scotland with an annual interest rate of 4%. The financial features are being discussed in
detail in the report. The breakeven of the company will take place at the end of 2 years and
specifically after 1 year and 6 months. The future of the Assure Company is quite promising
as there are several first class projects which are being developed in this area. Moreover, the
manager of the company guides and supports the employees to perform their best. With her
leadership and entrepreneurial skills, the company will be able to achieve success on the long
run.
The products of the company will hit the markets of United Kingdom by the first
week of July, this year. The Assure Company has managed to keep the quality of the products
high, but prices low. It will help in attracting the most number of customers, at the shortest
period of time. However, the company will have to keep a check on its competitors, in order
to succeed on the long run. In order to gain competitive advantage, the Assure Company will
be setting its prices in accordance with that. Furthermore, the company will undertake

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necessary promotional strategies for marketing its products and grab the attention of the most
number of mobile phone users.
General Company Description
Assure Company is a United Kingdom based company, which is planning to launch
its first wireless chargers by the first week of July, this year. The company has understood the
issues of the consumers and how they have encountered problems with messy cables and less
charging points, while travelling. Wireless charger comprises two different parts that is a
central distributer and various small receivers. The unique selling proposition of the company
is that the wireless chargers are compatible with almost all wireless devices. It can charge up
to three devices at a time within five meters, by using environmental friendly materials.
Charles Simpson is the sole proprietor of the company who came up with the idea of
wireless chargers, by understanding the needs and demands of the target customers. He
understood how individuals face problems with charging their phones and thus, ended up in
finding a way out. The wireless chargers will hit the electronic stores of United Kingdom by
the first week of July and solve the phone-charging problems of many people, especially
smartphone users. The company is under the ownership of Charles Simpson, who has
invested $20,000 and taken a loan of $150,000 from the Royal Bank of Scotland with an
annual interest rate of 4%.
Vision Statement
 The vision statement of Assure Company is to provide the users with economical,
user-friendly and ecological tools for the users to access sophisticated and complex
technology.

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 Assure Company’s solutions are being designed to help the users enjoy and enhance
their lives along with the convenience of hi-tech and innovative products.
 Their vision is to make remote charging become inseparable part everyday lives.
 The technology will enable explosion of wireless devices and mobile phones, which
are finally free of power cords.
Mission Statement
 The mission statement of Assure Company is to create a society by building a new
revolutionary way of charging electronic devices and phones at home, at places
people travel and on the palm of their hands.
 Assure Company is committed to provide innovative connectivity solutions as well as
support for its users.
 The goals and objectives of the company are to establish their business in United
Kingdom by the end of 2018 and introduce the wireless chargers to their potential
customers by the first week of July.
 In addition to this, their goal is to surpass the break-even point by the end of 2019.
 The short term objectives of the company are to increase their brand and product
awareness among the target market by 30%, this year.

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Figure: Logo of Assure Company
The strengths and core competencies of the company are its fixed objectives and
targets, which can increase its market share to around 10-20% this year. Moreover, it has
already started promoting its products on Assure Company’s official website and several
social networking platforms. Informing the target market regarding the benefits and features
of their products or services will also help them in gaining competitive advantage. In addition
to this, it will help in building strong customer relationships as well as enhance customer
satisfaction. Therefore, it can be assumed that the market share will increase up to 20%, in
one year.

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The Opportunity, Industry and Market
The Opportunity
The product is almost new in the market and even though, some companies have
launched a similar product, their prices are much higher. Thus, this is the potential market
gap which the company can utilize as their opportunity. This gap can be identified properly
by conducting a thorough market research. The market research should include target
demographics, geographic descriptions as well as company profiles, in order to understand
the customers’ demands and desires. In addition to this, it is important to understand on
which segment of the market, the company needs to focus on. Moreover, gaining an
understanding regarding the population as well as spending levels and habits of the customers
will prove to be beneficial for the company in filling the gaps of the markets. Furthermore, as
the company is new in the market, it can fill the gaps of opportunities, by providing the
customers with initial offers and discounts as well.
The Industry
The barriers to entry generally refer to the existence of the high start-up costs and
other obstacles, which prevent new businesses from entering their business area, easily.
Taking the case of Assure Company, it can be said that the common barriers are its start-up
costs and bank interests. In addition to this, the company can get highly affected from the
existing businesses or firms, which is already operating in the same industry. The bargaining
power of the customers refers to the amount of power the customers have to negotiate prices
of the commodities sold by the company.
In this case, the bargaining power of the consumers is comparatively on the lower
side, as the company is already offering high quality products at much lower prices, with
initial offers and discounts. However, the bargaining power of the suppliers is relatively

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higher as the suppliers may try to negotiate prices as they serve the raw materials. Moreover,
there are substitute products and services, which have already built its customer base. This
can get resolved to some extent as the company will be providing their products at lesser
prices. The major competitors of the company are Chargifi, Samsung Fast Charging Wireless
Stand, WoodPuck and others, which provides equally great services to its customers and the
competitive rivalry is quite strong. Therefore, the company needs to identify these major
forces affecting the industry and conduct a market research on the basis of that.
The Market
The age structure of United Kingdom is as following;
The maximum number of phone users belongs to the age group of 15-44 years. The
Assure Company needs to focus on this segment of the market and promote their products in
accordance with that. Moreover, the maximum number of smartphone users who faces
problems with charging their phones, belong to the age group of 21-44 years. Therefore,
Assure Company needs to gain an understanding regarding their customer preferences,
product development and demographic shifts in order to keep a track of these major trends.

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Strategy
Initially, the focus of the business will be a specific market that is mainly the
smartphone users. Successful start-up marketing techniques include a great marketing
strategy and equally great products. The business will succeed in the new markets only if it
focuses more on its product quality. It needs to set its prices accordingly, keeping its
competitors in mind. The company will be focusing on its unique selling proposition, that is,
the way it has set product prices. It will assist the company in creating a unique as well as
valuable position along with the different set of activities.
The product offerings are unique as well as different from that of its competitors. The
company has kept the quality of its products high and prices, low. The wireless chargers will
be able to charge three phones at a time, within a distance of five meters. Moreover, the
company needs to keep in mind that the feedback from target customers is very important.
The faster Assure Company will resolve customer allegations or objections, the faster they
can improve their products or services in order to match up to the market demands or desires.
Age Group
0-14 years
15-24 years
25-44 years
45-56 years
65 years and above

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The more the company gets these factors clear, the more they are expected to win on the long
run.
In addition to this, the company needs to get a clear idea of its competitors. It is
important to set the unique selling proposition of the company’s products or services in the
minds of the consumers. It is true that the company’s competitors have already built a set of
loyal customers and therefore, it can be a major challenge for the company. However, the
company can promote its products on the basis of their pricing strategy. Assure Company is
determined to sell its products at lowest prices possible, without compromising its quality.
This is the major unique selling proposition of the company.
Therefore, before hitting into the markets, the Assure Company needs to gain an
understanding regarding the new trends, changing consumer preferences, product
development and demographic shifts. A customer value proposition comprises the sum total
of the benefits that a vendor promises to his/her customers in return for a customer’s
associated payment, that is, value transfer. Thus, it can be said that the value proposition for
the customers is that the company will be selling its high quality products at much lower
prices, giving direct competition to its competitors.
Business Model
Key Partners
The partners of the
organization would
be different
subsidiaries,
acquisitions,
mergers, mobile
Key Activities
The company will be
conducting a research
for the development of
their services. This
particular application
will be targeted
Value Proposition
The product will help
the customers by
charging their phones
anytime and
anywhere. The
customers will not
Customer
Relationships
The interaction with
the travelers will be
done in a direct
manner through the
help of the
Customer Segments
The application will be
catering to the needs as
well as demands of
different consumers who
indulge into travelling.
Individuals belonging to

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companies,
engineering and
software companies,
manufacturers and
other sponsors.
towards the mobile
phone users, who face
charging issues. This
will result into the
decrease in the
customer problems of
charging phones. The
sources of revenue are
the profit generated
from the services.
have to fight over
charging points and
chargers. Moreover,
the wireless charger
will charge three
phones at a time. In
addition to this, it will
also increase
consumer loyalty of
the brand itself, since
the product’s launch.
application. The
membership fees
need to be given for
the first 5 months
after which the
service will be
offered for free of
cost
.
the age group of 14-20
will also be targeted for
the promotion of this
product.
.
Key Resources
The use of latest and
innovative
technologies will help
the company in
developing more
mobile applications
and more profits can
be generated.
Channels
Usage of B2B
businesses and social
media platforms. The
use of print,
electronic and online
media will also be
done in order to grab
the attention of the
most number of
mobile phone users.
Investments required
The company will be
promoting its product
everywhere in the region.
Therefore, significant
investments will be done
for paid publicity.
Cost Structure
Acquisitions.
Research and development.
Employees’ compensation.
Innovation programs.
Design and manufacturing.
Infrastructure and technology.
Facilities, distribution and marketing.
Revenue Streams
Service fees and equipment sales.
Contracts and orders.
Licensing.
Team Management and Organization
Charles Simpson is the founder of the company, who has a degree in mechanical
engineering and has sound experience of ten years with ABC Technologies. In addition to
this, he has interned with several reputed companies and gained valuable work experience in