Entrepreneurship Report: Knowledge on Wheels Business Plan

This report presents a comprehensive business plan for 'Knowledge on Wheels,' a mobile bookstore concept. The introduction highlights the importance of entrepreneurship and introduces the business idea. The report details the business plan, including an executive summary, description of the business, market analysis using both secondary and primary research, management and organizational structure, marketing and sales strategies, financial information, and monitoring and evaluation methods. The market analysis includes literature reviews and a questionnaire to assess customer interest and feasibility. The proposed business aims to collect and distribute books via mobile vans, promoting reading and knowledge. The conclusion summarizes the key findings and recommendations, with references and an appendix containing the questionnaire. The plan emphasizes the potential of social entrepreneurship to increase literacy and address the challenges of technology addiction by providing accessible reading materials to the public. This plan is designed to provide a sustainable and innovative solution for the target market.

ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
EFFECTIVE DECISIONS..............................................................................................................3
Proposed Business Idea...............................................................................................................3
BUSINESS PLAN...........................................................................................................................5
Executive summary.....................................................................................................................5
Description...................................................................................................................................5
Market analysis............................................................................................................................5
Management and organisation structure....................................................................................11
Marketing and sales...................................................................................................................11
Financial information.................................................................................................................12
Monitoring and evaluation.........................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
APPENDIX....................................................................................................................................15
Questionnaire.............................................................................................................................15

INTRODUCTION
Entrepreneurship is a business idea that is based on innovation and creativity i.e. presenting
something unique and commendable before the general public (Antikainen and Valkokari, 2016).
In the present report, first a business idea will be proposed using he business canvas model and
then the feasible business plan study would be undertaken so that funding can be generated of the
idea thus presented.
EFFECTIVE DECISIONS
Proposed Business Idea
The proposed entrepreneurship idea that has been developed inclines more towards the
social entrepreneurship where the idea is to develop a comprehensive network throughput the
city through which the new books, used books or even donated books would be collected from
the residents and then they will be distributed to the other residents at a comparatively lower cost
through a mobile van system (Toro-Jarrín, Ponce-Jaramillo and Güemes-Castorena, 2016). There
would be a number of vans operating throughout the city and all will be connected to a single
network so that the mobile van delivery of books can take place at any time. The business canvas
model can be used to discuss every aspect of the proposed business idea more clearly:
Key Partners Key Activities Value Proposition Customer
Relationships
Customer
Segments
The key partners
in this proposed
business idea
would be the
students who are
willing to sell
their books, the
universities and
colleges who can
donate them, the
readers who are
also willing to
sell their already
read books or
even bookstore
owners who can
liaise with the
intended business
idea and increase
The key activity
that is involved in
the proposed
business idea is
of collecting the
books from
whomsoever
intends to sell it
or donate it and
then sell these
books at a lower
or feasible rate to
the other parts of
the public who
intend to buy it
by utilizing van
i.e. it would
basically be a
bookstore on
The major value
proposition behind
this idea of
entrepreneurship is
that it will increase
the interest
towards reading
and children can
begin from an
early age (Hruska
and Maresova,
2019). It will also
assist in increasing
education amongst
the poorer section
to which donated
textbooks will be
sold for free.
Therefore, this
Excellent
customer
relationships can
be established by
making a wide
collection of
books available
to them on the
doorsteps and the
complete
collection of
Harry Potter
would always be
available in the
mobile vans so
that children can
be immediately
attracted.
There is no
specifically
targeted customer
segment as anyone
who is interested
in the book
collection can buy
the books from the
mobile van but the
psychographic
customer
segmentation
technique would
be used (Daou and
et.al., 2020). The
aim is to make
people realize the
importance of
reading and hence
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their reach to the
customers.
The main service
would be the
mobile delivery
service for books
of which any
seller or donor
can take benefit
of at minimum
costs.
wheels. intended idea
would basically be
a merger of both
entrepreneurship
and social
entrepreneurship.
be attracted
towards the library
that is moving on
wheels just like ice
cream trucks. This
will help in
increasing the
attention of
students and
children towards
reading and
gaining
knowledge.
Key Resources Channels
The key
resources that
will be utilized in
the business are
the books, vans,
software for
managing and
controlling and
the necessary
human resource.
These incorporate
the major
resources that
would be
required for the
proposed
business idea.
The supply chain
or channel that
would be used in
the intended
entrepreneurship
would be mostly
through the vans
only as they have
been designed
specifically for this
use. The
availability as well
as the delivery
would be right at
the doorstep of the
individuals who
are interested and
the pickup from
those who want to
sell would also be
form their
doorsteps (Joyce,
and Paquin, 2016).
However, a main
office would also
be located, where
if interested;
anyone can visit to
either sell or buy
the books.
Cost Structure Revenues Streams
Mainly, the cost would be incurred in the
travelling expense i.e. the fuel that is required
to run the mobile vans throughout the city
where the books will be both collected and then
sold. Another major expense would be due to
the drivers that would be hired who would be
paid salaries. The entire setup and maintenance
cost would also be incurred additionally in the
proposed business idea.
The major source of revenue would be through
the selling of books only where the more
number of books are sold, more would be the
profits levels. Additionally, the revenue can also
be earned by using the mobile vans for other
events or for transportation services on a part
time basis i.e. when the books are not being sold
(Antikainen and Valkokari, 2016). This can act
as an additional source of revenue for the
business.
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BUSINESS PLAN
Executive summary
The new entrepreneurship, Knowledge on Wheels, is a new entrepreneur idea that has been
proposed and aims to increase the inclination towards reading and gaining knowledge (Wang and
et.al., 2016). The business plan aims to critically present the different aspects of the intended
business and the manner in which it will be carried out.
Description
The company, Knowledge on wheels aims to critically develop a strong supply chain in the
city where the aims to collect books from sellers and readers and then supply it to other people
who want to read that particular book at their doorstep. This will help in developing a strong
network through mobile van and increase knowledge and interest towards reading.
Market analysis
In order to analyse the potential of the business and identify whether it would actually be
extremely profitable in future or not, it is necessary to identify and analyse the existing maker
condition and the preference by carrying out a detailed research (Bharuthram, 2017). This has
been done using both primary and secondary sources:
Analysis of secondary sources: This can be done by conducting an intensive literature review for
the proposed business idea.
As per the research paper published by Garces-Bacsal and Yeo (2017), it can be
identified that the majority of the parents are no happy with the increasing technology addiction
that their kids are facing. The study reveals that the parents want their children to be excited for
other things as well such as reading, writing, drawing etc. The parents strive towards he overall
development of their child so that they can understand the need to develop other artistic values
and creativity along with the knowledge simply. The best measure is to read as it exposes the
mind to multiple thoughts and parents agree that they would love to see some developments in
increasing reading mechanisms for their kids.
Another research paper published by Wema (2018), presents that the children or
teenagers prefer to find some kind of balance where they do not want to give up in the
technology entirely but they also want to engage in other activities. However authors state that
their major concern was that they could not find correct mediums for engaging in such other
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activities. They agree that the concept of library reading is too old fashioned and they do not
prefer to go there but rather if some other innovative means is ascertained then they would love
to delve into it.
However, the authors, Olifant, Cekiso and Rautenbach (2019), contradicts the above
point by stating that the parents themselves are addicted the technology heavily and therefore,
they do not have adequate time for the children. The authors further state that even if any
innovative method does arise for meeting the reading requirements of parent sad children, the it
would be a failure because they are not attracted to it and do not have time for it. The persons
who intend to read have already established themselves in the libraries and other bookstores.
Therefore, the authors conclude that any development in the field of trading mechanisms might
not be very successful and can even die out after some time period.
Another research paper by Jenkinson (2018), state that the need to increase the access of
education for the underprivileged children in UK has increased significantly. There is the need
for taking some quick steps as soon as possible so that the corrective measures can be
implemented. This will help in increasing the access to the knowledge acquisition of the younger
children and thus help in improving the overall condition.
Analysis of primary data: A primary data research was conducted using questionnaire method
on the 30 randomly selected customers or shoppers in the city. The results of it can be presented
in following manner:
Theme 1: Idea is a likeable concept.
Do you like the concept of mobile bookstore? Frequency
Yes 27
No 3
Total 30
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Interpretation: The chart above clearly shows that the idea of a mobile library is an extremely
likeable concept as 90% of the respondents claim that they like the manner in which the
proposed entrepreneurship would comply with both economical and social welfare aspect.
Therefore, the idea seems to be an attractive one that can create lucrative business opportunities.
Theme 2: Twice in a week and whenever something good appears would be the most common
buying frequency.
How often would you buy books if such mobile
library is presented before you?
Frequency
Twice in a week 10
Twice in a month 6
Once in a while 4
Whenever I like something I will buy it 10
Total 30
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Interpretation: The frequency of the buyers would increase where mostly they would buy twice
in a week if a mobile library as to come at their doorstep everyday. Another equivalent ratio is of
respondents who emphasise on the content of book collection and this is something which
entrepreneurs can work on really hard and fast.
Theme 3: Children can be benefitted immensely
Do you think this could help the children in
your house or neighbour in any manner?
Frequency
Yes, it would be valuable 19
I don’t know, it depends on the buying behaviour
of the parents
7
No, I don’t think it would really affect 4
Total 30
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Interpretation: 64% of the reposndents agreed that this idea is very good for increasing the
inclination of the children towards reading and parents can also work towards making their child
attrcted towards the mobile library which is similar to a iceacream truck that is loved by
everyone so much. Hence the idea of mobile library is already considerd great.
Theme 4: Mobile library is an extremely innovative idea.
How unique or innovative do you find this idea
of mobile library?
Frequency
Very innovative 17
Innovative 8
Neutral 1
Not innovative 3
Extremely non innovative 1
Total 30
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Interpretation: Chart shows clearly that the idea of library on wheels is considered as extremely
innovative and something new that could easily attract their attention and eyes. This could prove
ot be a revolutionary business if the correct attention is attracted by relevant marketing strategies.
Therefore, the idea can be potential success in future.
Theme 5: Excitement level for the potential business idea is very high.
Are you excited for this potential mobile library
venture?
Frequency
Yes, I would buy something as soon as it begins 24
Neutral, I would wait for the response of the
public
6
No, this is not practically successful 0
Total 30
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Interpretation: 80% of the respondnets collectivley said that they would buy something as soon
as this mobile libabry is launched and absolutely no one i.e. 0% of repsondents thought that this
idea is impractical or cannot succeed in the market.
Therefore, collectivley, both secondary and primary research points out that the intended
beneits of funding in this proitnetial busienss idea would be huge and can help in generation of
major benefits in the future to the investors.
Management and organisation structure
The management would mainly involve 5 key people and 5 workers. There will be 2 co-
owners of the company who are partners as well. There will be one finance manager, one
marketing manager and one logistics/ sales manager. The mobile vans that have been procured
for use are 5 and therefore 5 drivers will be required who will operate in clearly segregated parts
of the city. It is a flat hierarchy where drivers can communicate directly with the CEO as well
thus generating proper opportunities.
Marketing and sales
The marketing activity will be undertaken by the marketing manager who will develop
correct strategies for both online and offline mediums and use traditional as well as modern
modes of marketing (Tørseth and et.al., 2017). The sales will be managed by the logistics or
sales manager who will ascertain which those particular areas where the demand is more are and
thus manage a proper supply chain management for the proposed business venture.
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Financial information
The company is expected to be slow in the initial three months where the book donors and
sellers would also not be huge and the buyers would also be not very widely spread. However,
the tie- ups with universities can help in increasing the sources of revenue. After the three
months, it is expected that company would be able to operate on more profitable terms and the
revenue inflow is expected to increase for Knowledge on Wheels Company.
Monitoring and evaluation
The business activities will be regularly monitored so that the corrective actions can be
taken regularly (Mahaffey and et.al., 2018). The various techniques such as benchmarking
technique, standard costing etc. can be taken and evaluated so that corrective actions and
measures can be adopted and implemented regularly.
CONCLUSION
The report helps in concluding that the proposed business idea of mobile library for
underprivileged children and for other readers is a very innovative idea and can succeed easily.
The stakeholder and investors should invest their funds in this profitable business.
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