Business Plan: Rose Candle - A Sustainable Fragrant Candle Business

This report presents a comprehensive business plan for Rose Candle, a fragrant candle business, focusing on the UK market. It begins with an introduction outlining the business concept and its potential, emphasizing the use of waste materials for sustainable product development. The report covers various aspects, including market research, target customers (women and young people), and a SWOT analysis. It delves into primary and secondary research methods, qualitative and quantitative analysis, and ethical considerations. The plan addresses equality and diversity laws, employee rights, and financial aspects such as assets, liabilities, gains, and expenses. The business model is detailed with a focus on a sustainable approach. The report also includes a discussion of the business's visual identity, values, and a budget plan. The conclusion summarizes the key findings, emphasizing the potential for Rose Candle to succeed in the market. This is a well-structured business plan which could be used as a case study for a small business.

Business plan

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1 ...........................................................................................................................................1
1. Business Information...............................................................................................................1
Task 2...............................................................................................................................................3
Primary, secondary, quantitative and qualitative research .......................................................3
Task 3...............................................................................................................................................4
Solution of ethical dilemma.........................................................................................................4
Task4 ...............................................................................................................................................5
Equality and diversity law...........................................................................................................5
Rights of employees ....................................................................................................................5
Task5................................................................................................................................................6
Assets liabilities gains and expenses ..........................................................................................6
CONCLUSION................................................................................................................................7
......................................................................................................................................................7
REFERENCE...................................................................................................................................8

INTRODUCTION
In present scenario mostly person are interested to run their own business that makes
different from others. Business includes an activity that runs by a business concern who have
knowledge and experience to do. For doing business a person should have enough capital and
resources to start a business that give a confidence and ideas to be sustain at market place (Arntz-
Gray, 2016). The main purpose of this report is to understand how to start a business and what
are needs to start a business. Moreover, this report will covered a small business idea on Fragrant
candles that is creative business ideas prepares from wastes that attract customers. This report
will covered location, industry, business model and visual identity that helps to promote a
business socially, equality and diversity growth of business activities. Any business need to get
help of primary and secondary research that give information demands and expectation of
customer that helps to develop a business with the help of market research (Berends and et.al.,
2016).
Task 1
1. Business Information
Story/Industry: Rose candle is a small craft candle which aims to serve fragrant candles
in UK's high street there number of shops are available. A market research shows attractive and
designing candles are high demanded product at market place. It shows an interest of people to
decorate homes at festival and other celebration day. This idea was taken from childhood as
interested in drawing and using wastes material that helps to innovate new things to decorate
homes with different and colourful lights. According to this business idea annual sales has risen
£5.2 billion and expected to grow more in upcoming years. From this innovative idea home can
be decorate perfect by increasing sales.
Location: It has been analysed through market research that the best location to start a
fragrant candle business is UK's high street that is London where number of population are
living.
Target customer: A rapidly research on social media, Instagram and twitter has stated
that youngster and women are mostly interested to buy innovative products and also interested
to see posted images of home decor candles, therefore the market and women customer should
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be great match for this product. It revealed that this business idea will focus on target customer
such as women and young people.
Business model: This means a model that create a sustainable unit and value for
customers in a market place (Gale and John, 2017). As rose candle use SWOT business model
that shows its strength, weakness, opportunity and threats which is discussed as below-
Strength:
Attract to women and youngster.
Increase interest for romantic experience that
increase sale of product.
Advertisement of candle that increase sale.
Weakness:
Lack of brand awareness during start up.
High spending to adopt weakness.
Opportunity:
Enter in new market with high competition.
Growth through independent.
Threats:
New entry and exist competitors can imitate
business model and idea.
High restriction on imports.
Name of Business: The decided name of business is Rose candle that means a thing or item who
provides a high fragrance to attract the people. It supposed that rose is favourite flower of people
that influence people so Rose candle chosen that will provide a great aroma to attract the people.
Visual identity: It states visual feature of products and brand that helps to make a value for a
business. The idea of using rose as the logo for this business has been inspired by Nike company
who use simple logo to represent the organisation. Such as Rose candle will also represent this
enterprise to attract customer by providing quality of products.
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This is a Well known icon that helps to attract the customer by using social media, Instagram as
well as in homes also. The image of rose is a central picture in advertising and marketing
campaigns. In research states this brand is original and fresh brand that can influence customer.
Mostly it is used in romantic events and experience that increase customer interest.
Values: By remembering the perfume industry, this business idea are most aware thought that
helps to make different product with rose smell and wastes material that creates every year in
London £1.2 billion a year according to recycle for London.
The main motive behind this is to use waste material in order to make recyclable products
and increase its value for customers. This is a recycling idea that helps to use wastes by making
design of candle and wax is use to make candle. Therefore, this business idea helps to promote a
business socially and environmental by using wasting material.
Task 2
Primary, secondary, quantitative and qualitative research
Primary research: This includes market research that is done at first time without any help to
run a business. Moreover, it involves a collection of information that should be innovative and
specific. Marketing manager of Rose candle will research people's needs and wants. After
knowing needs need to prepare a business plan on Fragrance candle and get views from public.
This research will give information about people interest through interview and survey of
market. This research will also helps to interact with customer and their problems (Grimm and
Paffhausen, 2015). Some questions are prepared to know the preference of people such as-
Questionnaire:
Do you like to rose fragrance candle?
(a) Yes
(b)No
What improvement should be require to make attractive design?
(a) Proper use of material
(b) should be available in short or long size
(c) should be in Glass or bowl size
Secondary research: It includes data and information collected with the help of primary data
and other collected information. In this types of research no need to bear extra cost because it
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depend on past information. This research is mostly used in making government agencies and
other business organisation that helps to save excess cost and time. Such as Marketing manager
of Rose candle will use collected idea and process to make candle from wastes wax. This is time
saving research that helps to save extra cost in order to make innovative business. This research
will helps to product new innovative products at less time and will increase sales.
Qualitative research: This contains a research without any numerical data and information that
look for explain meaning from collected non numerical data, is helps to understand social trend
through study of reference places and group. The manager of Rose candle will get information
about quality of candle, material used, confidentiality, on time delivery etc. through qualitative
research.
Quantitative research: This research contains mathematical, statistical and numerical
information that helps to provide future demands and expectation of products. Rose candle can
use this research to know growth and mathematical data (Hopp 2015).
Task 3
Solution of ethical dilemma
Ethical dilemma means a situation where a person select a option from different
alternative to solve the business problems. It is difficult for enterprise to chose a best option to
solve the ethical problems that can arises.
Case:
Tesco has a business of providing retailing product top customers. During start up of
business it has faced dilemma that from where it should purchase products at low cost, how it
can increase its sales,capital issue and customer loyalty. To solve this dilemma manager decided
to buy products at low cost from manufacture at discounted price. For solving capital issue it can
take loan from bank and to create customer loyalty it should provide better quality products at
reasonable cost (Inman, 2016).
Conclusion:
Tesco company started its new business by solving problems and increasing customer
faith. Its manager has solved this dilemma by choosing one best option that helped to increase
sale and customer trust by providing better quality at low cost. Hence manager of Rose candle
has option to choose best alternative to solve ethical dilemma such as increase customer interest
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by advertising and marketing, by offering discounted price, by providing designing candles at
reasonable cost that will helps to attract customer (Read and et.al., 2016).
From the above mentioned values it also has been recommended that Rose candle is
valuable product that is prepared from wastes products and wax that will help to increase
popularity as well as will create customer value.
Task4
Equality and diversity law
This is compulsory for each and every organisation to follow equality and diversity law at
the time of selecting people. This law provides equality and diversity that can satisfy employees
to get appropriate and equal wages as according to rules and regulation. This law protect the
employees rights and provide them safety (Jones, Borgman and Ulusoy, 2015). Zero hour
contract is used for piece or on call work that means worker will work on call when organisation
has needs to get work done on time. In this case employees has right to get minimum wages as
fixed by government or legal authority. UK's government has introduced Equality and diversity
law to protect worker's rights such as-
 Enterprise can not create partiality and differentiation on the basis of promotion,
age, sex, relative and performance.
 Wages and salary discrimination is not allowed in any industry (Regnier, 2017).
 On the basis of working hours worker's discrimination is bounded.
Each business enterprise should protect interest of workers who are working in a organisation
and should provide safety work environment that helps to work effectively by providing good
health and compensation benefits.
Rose candle will increase interest of customer and employees by comply with equality
and diversity law that will helps to protect interest of customer. Manager of Rose candle should
provide equal wages and salary to staff that will motivate to employees and increase
productivity. Working hour and timing should be same for employees and no discrimination is
allowed in this company (Rayna and Striukova, 2016).
Rights of employees
Rose candle provides different kind of facility to its staff that helps protect employee's
right and get increase their production. It provide various rights to employees like as-
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 Right to get healthy and safety environment at work place.
 Right to get equal wages according to employment contract law.
 Right to fill complaint in complaint box that should be secret.
 Right to get compensation and other benefits (Tehseen and Ramayah, 2015).
 Right to get promotion,bonus and incentives by giving good performance.
Task5
Assets liabilities gains and expenses
Assets: Assets means wealth or property that helps to generate long term income or
revenues for an industry such as building, motor vehicle, furniture, plant and machinery etc.
Rose candle has different assets that helps to manufacture designing and fragrance candle like,
machine equipment, tools, and wastes products (Kakouris, Dermatis and Liargovas, 2016).
Liabilities: This means financial debt or liabilities that can be arise while doing a
business that needs to be pay by a business concern. Rose candle has different liabilities such as
unpaid suppliers, creditors, loan and outstanding expenses.
Gain: Rose candle can increase in gain by selling designing and fragrance candle at new
market place that will helps to attract customer and their reference person.
Expenses: Rose candle states expenses also such as purchase of raw material, employee's
salary, maintenance cost of machines and advertisement cost (McGuirk, Lenihan and Hart,
2015).
Budget to avoid problems that relates to cash flow:
To avoid and reduce cash flow issues an organisation should set time for debtors and
liabilities that helps to maintain cash flow (Volery, Mueller and von Siemens, 2015). The bad
debts need to be write off rapidly. It shold follow budget such as-
Expenses Amount(GBP)
Cost to purchase machines 2000
Salary of employees 8000
Designing of candle 4000
Building rent 6000
Total 20000
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CONCLUSION
From the following report, it has been concluded that business idea is very essential to
survive at competitive market place that helps to run a business effectively. By conducting
primary research Rose candle can focus on group, interviews, surveys and concentration on
people's demands. Rose candle should follow equality and diversity law that will helps to
motivate people and increase in production. Moreover, this report covered different topics like,
secondary research, qualitative and quantitative research provide customer demands and
expectation. It helps to make innovative products by maintaining cost and budget.
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REFERENCE
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