Self-Defense Business: Enterprise and Entrepreneurship Project Plan

This report outlines a business plan for Armor Ring, a company focused on developing and selling self-defense tools, primarily rings. The motivation stems from the increasing insecurity in South-eastern Europe, with rising incidents of robbery and assault. The business idea was generated through brainstorming and a structured process involving market research, prototype development, financial planning, legal compliance, and performance measurement. A feasibility study indicated high profitability due to the product's unique combination of fashion and self-defense functionality. The company aims to capitalize on potential market opportunities, focusing on both men and women, and leverages social media influence. The industry analysis, based on Porter's five forces, suggests a favorable environment with limited competition and high market demand. The vision is to create a safer environment by providing accessible self-defense solutions, thereby reducing risks associated with theft and assault. The report concludes by highlighting the importance of each element of the business plan, from initial motivation to market entry and long-term vision.

ENTERPRISE AND ENTREPRENEURSHIP
STUDENT NUMBER -

Table of contents
• Introduction
• Motivation for the choice of business
• Process through which I went to generate this business idea
• Feasibility studies conducted
• Detail of the product or service to be offered
• Potential market opportunities
• Attractiveness of the industry
• Vision of the business
• References

Introduction
The report will be describing a business that involves in the development and creation of self-defence tools,
equipment, and gadgets for enhancing the safety and security of people in their day to day lives. The
presentation will be describing the motivation that pursued the need for developing such a project or business.
It will also describe the process in order to create a suitable business idea with the help of feasibility studies.
Moreover, it explains about the detail of products or services that are offered by the company and its potential
market opportunities. Further, it will also describe the attractiveness of the industry and vision of the business.

Motivation for the choice of business
Armor Ring is basically a manufacturer and seller of self-defense
tools, equipment or gadgets, mainly in the form of rings. The main
reason behind developing the self-defense tools and equipment is
deterioration of the secure environment in South-eastern Europe and
it's nearby areas. The increasing cases of robbery and thefts in the
daylight have intensified and numbers of cases for women abuse and
assaults have also risen. I would like to take an instance of my own
experience, on a day when I was walking from my office to the
nearby metro, suddenly a robber assaulted me for money and I was
left with no choice at that place.

Continue
Brainstorming was done throughout the activity in order to take the
survey so that the business idea can be developed. It refers to a group
problem solving activity that involved the active participation of
thoughts and ideas of all the team members.
The team members have many issues regarding creation of new ideas
for a business therefore the brainstorming was done to create the
solutions. The team members were able to think more freely and they
suggest as many simultaneous new ideas as many were possible. The
ideas were noted and written down with their critics so that all the
ideas were evaluated and the best results were found out.

Process through which I went to generate this business idea
In order to make this world a better place for living, I developed an idea with a sequence of steps to turn this idea into real
business.
• Starting with the homework: In order to design the product and evolve my Idea into reality I need to gather
information therefore I started with learning at my home.
• Getting some field experience: In the next process I got certain advice with the help of a prototype that showed how
the product will perform.
• Figuring out the finances: When I developed the prototype and tested it my next step was to arrange the finances for
the product.
• Legalizing it: The next step all the process that I went through was legalizing the product in the market.
• Writing a business plan: After arranging all the things I started to develop my own business plan for this product in
order to answer all the questions about my business.
• Measuring the performance of the product: After setting the product out in the market I critically observed the
improvement of the product in the market.

Feasibility studies conducted
I conducted the feasibility study and observed that the product was highly profitable as it was not just a product
for self-defense but it also shows the fame of the person owning it. The product has well-established it's foothold
in the market and it is among the most liked products among the accessories that are available in the market. The
product was made by keeping in mind that it is also worthy for the people and improves their lifestyle. The
product I developed had the investment which was very well prepared; this helped it to generate higher profits.
With the first month profit of 7 thousand pounds the start was quite good and the yearly profit of 164 thousand
pounds was exceptional that made the business proud of its activities.

Detail of the product or service offered
The product is basically a self-defense ring that I would
like to develop with the help of investment and the use of
the latest technology in my business. As I had previously
mentioned, there are many shortcomings of the traditional
self-defense equipment and tools that are available in the
market. Therefore, I wanted to develop a new product that
will always be available to help us in the time of need. The
product is mainly designed to satisfy the needs of men and
women to carry it easily and in a fashionable manner at any
place that can be handy and fashionable. This Armor Ring
will be available to the customers with an electroshock
system which can be used by the people in the time of theft
or assault on them.

Potential Market Opportunities
As per my previously conducted studies I know now that this product will have a very specific impact on the
market and will generate a high demand among the customers. The product is not only wearable, fashionable and
good looking, but it could be helpful in self-defense of an individual to help them in the times of need. The
product will have a great market coverage as an accessory for men and women as well as a self-defense product
or equipment. The product is in high demand in the market, the availability of influences on the social media
using this equipment are many, it will be the combination of fashion and self-defense and this could be a classic
gift option to anyone whom you care for.

Attractiveness of the Industry
I went through to generate this business idea was figuring out the industry for these products. Mainly, I needed to
understand how much industry cover can be gained by a certain product of self-defense. I considered the careful
evaluation of the customers, market segment, competition and suppliers with the help of Porter's five forces. I
identified that the product can be very affluent in the market as the competitors are less, substitutes are less, market
opportunity is high and suppliers are also sufficient. The industry is suitable to give the opportunities for continuing
such project in the market.

Vision of the business
The vision of my business is to create a safe environment for all the people living in it and enhance the
women's self-defense. The business tries to avoid unnecessary risk of loss of lives and property that may
be caused due to the activities of theft and assaults for thefts. To provide the people with their own self-
defense assistance and create a safer world the business creates its products and services with higher
values.

Conclusion
The above presentation has been explaining a business plan for developing self defence, tools, equipment
and gadgets for people. It has been obtained from the reports that there is a certain motivation which is
required for developing a business and continuing it. It has also been described that there are various
processes that are required to generate a business idea such as starting with the homework, getting some
field experience, evaluating the finances etc. Furthermore, it has been described as a feasibility study to
observe the product in the market and its performance is necessary. Moreover, the details of product or
service are essential for developing a good opportunity in the market and industry.