Smart Mask 21: Business Plan for Startup Company Project

The assignment presents a comprehensive business plan for "Smart Mask 21", a Bluetooth-enabled face mask designed to provide enhanced safety and features during the COVID-19 pandemic. The plan outlines the business overview, including product description, target market (ages 8-74), and core values, emphasizing online sales and subscriber services. It details the management structure, team skills, roles, and responsibilities. The plan includes market research, competitive analysis (SWOT), and a marketing strategy focusing on social media and branding. The product's unique selling points, such as Bluetooth integration, reusability, and compliance monitoring are highlighted, along with proposed marketing strategies like affordable pricing and online advertising. The plan also includes a survey for market research.

Smart Mask 21
AUTOMASK 21

Table of Contents:

Section One
Scenario: A: B: C:
Business Overview
1.1 Business summary:Please write business outline. (who,what,where, When and how)
Let us keep our employees, customers and loved ones safe during COVID-19 pandemics with the new and
future Smart Mask 21!
The later scourge that humans encounter is having a critical impact in the world, as well
as the well-being organisations of each nation, with governments, are implementing
stronger procedures to stop the infection of Covid-19 and try to find conceivable results
to reduce the rate of contamination. There is a basic need to seek security against this
unused transmuting virus. Taking after – venture offers a demonstration for the
development of advanced innovation that aims to help protect people from the spread of
infection.
The “Auto Mask21” may be a Bluetooth matching face cover that can be used by anyone
in the open from youth to the elderly, hands free, this super veil will be able to respond
to respond to everyone in this challenging time. In addition, “SM21" is consistent with
any smartphone gadget that suggests that it is additionally capable of opening up the
sound through the cover or through the veil-related earphones. This trade is going to be
based online as a start-up to trade.
1.2 Describe your core product or service:
During the coronavirus pandemic, wearing a mask became the new norm.
“SM21” developed with a cyberspace-connection that can send messages while
wearing a mask and amplify the mask-wearing voice. The new "SM21" fits over a
standard face and connects via Bluetooth to a smartphone and tablet app that
allows you to make calls. The "SM21" adapts to the wearer's face and reflects
facial movements.
1.3 Your immediate and future business aims:
As the world rapidly moves into space, the primary goal is to introduce
the public to innovations that are already being implemented in a
specific region of the world. The plan is to generate revenue from
subscriber services provided via an app that users will download, and
they will be able to buy online and have their product delivered to their
preferred address.

1.4 Please state the amount of seed capital requiredand partner
investment: (Up to a maximum of £40,000)
The new SmartMask21 is seeking for the amount of £40.000 towards a website also a security and delivery
company(Amazon).

Section Two
Management structure.
2.1 Professional team skills: (Outline individual team members transferrable and
professional skills as per your current CVs only).
Names: Andrea, Daiva and Dylan.
Transferable skills:
Daiva
 Hard-working worker with organisational skills
 Punctual with a formidable team skills worker
 Teamwork
Andrea
 Diligent worker with ability to manage stressful situations
 Responsible and punctual person
 Capability to work without supervision
Dylan
 Leadership
 Creativity
 Mindfulness

Professional skills:
Daiva
 Added languages
 Lithuania: Native Proficiency
 English: Professional Proficiency
 Russian: Professional Proficiency

Andrea
 Numeracy skills
 Basic knowledge of numbers
 Calculation skills
 Budgeting
 Interpreting mathematical information
 Understanding the relationships between numbers
 Understanding trends
 Measurement and data analysis
Dylan
 Basic Computer Skills
 Analytics
 Social media
 Graphic design
 Microsoft Office
 Spreadsheets
 Email communication
 Marketing automation
 Data visualization
2.2 Each team member’s roles and responsibilities:
Dylan responsible for business sales.
 Accomplishinggreet customers.
 Help customers find items in the store.
 Check for stock at other branches or order requested stock for customers.
 Provide customers with information about items.
 Ring up purchases.
 Keep track of inventory.
Daiva responsible for buyingitems.
 Strong negotiation skills.
 Excellent communication skills.
 Relationship building and management skills.
 In depth understanding and knowledge of the industry
 Overseeing a team of buying agents.
Andrea responsible for accounting.
 Working with spreadsheets, sales and purchase ledgers and journals.
 Preparing statutory accounts.

 Calculating and checking to make sure payments, amounts and records are correct.
 Sorting out incoming, outgoing daily post, and answering any queries.
 Evaluating accounting software on company needs.
Where to advertise business
This business is based online.
Web designer
Mobile Apps
• Online based business, advertising by social media and websites.
• Create a brand & logo.
• Create a website.
• Get some business stationary.
• Engage with Google.
• Optimise, Search engine optimisation.
• Check your online NAPs which is number, address and phone number.
• Go Mobile and create an app.
• Socialise
2.3. Identify your company’s skill gaps, then chose one role and create
an advert with the skills required and their roles and responsibilities.
The company’sgap is lacking for a security.
We are looking for an experienced, initiative-taking Security Officer to work at one of our prestigious
warehouses in London.
 Officer must have the Security Industry Training Organisation basic qualification or equivalent
experience.
 To have a good telephone manner with a friendly and calm disposition.
 Carry and be capable or using all security equipment necessary to efficiently perform the duties
needed from a professional security reception officer.

Section Three
The market/customer profile.
3.1 Describe your target market profile and whereare your proposed
customers based:
Most of the customers will be based online.
Most customers target age is 8 – 74 years.
Baby boomer’s generation, Generation X, Millennium Generation, Generation Z.

3.2 Describe your perceived competitive advantage/USP:
The new “SmartMask 21” is a unique mask.
 as it will have integrated Bluetooth
 It is reusable and chargeable
 Material is resistible
 Easy to clean
 Can listen to music connecting air pads
 Contact tracing
 Compliance Monitoring
 Extended battery life
The Smart Mask 21 monitors compliance for wearing the mask, mask comes with downloadable app that
allows you to track your data and set up alerts from your smartphones, tablets, or PC’s.
SmartMask21 is ideal for schools, business, homes and more.

Section Four
Marketing
4.1 Explain your market research with references, Using primary and secondary
research.
Provide a questionnaire with 5 suitable questions and state the objective of said
questions.
Survey Monkey
Would you try a new smart mask?
Smart masks
1. Age
2. Where do you buy your masks?
Online
Supermarket
Somewhere else
3. How much do you spend on the masks monthly?
£0 to £25
£25 to £50
£50 to £100
4. Would you consider purchasing a new and improved mask,
easy to clean, Bluetooth built into the mask, reusable, fully
compatible with smartphones and tablets?
Yes
No
Maybe
5. How much would you be willing to pay for a new smart mask?
£25 to £50
£50 to £75
£75 to £100
6. Do you have any other comments, questions, or concerns?
the survey is still open and we are waiting to collect more responses

4.2 Competitor analysis
(Based on your market research, analysetwo key competitors and
explain how your business will compete with them) (You may consider a
SWOT here)

Our competitor is a clear mask
Our competitor is a clear mask
As the competitor is clear mask so they are also living in the same product that therefore it is
very necessary for this company to provide better quality mask to the customers (Ferreras and
et.al 2019). As the deer mask is the strongest competitor who is manufacturing the mask and
dealing in the same market. But smart mask is providing good quality mask to the customers
therefore it becomes hard for clear mask to grab the customer of smart mask.
Opportunities:
the smart mask has ne if the biggest opportunity that it can easy to sell and people liking the
mask the easiest deliveries
The delivery of this mask is easy and people can easily afford this mask as well.
Collaborating with other companies
To enhance the sales of this mask, this company can collaborate with other big companies who
are dealing in the same product. It will minimize the competition as well.
Competitive price
Prices of this mask are affordable so this is also an opportunity for the company and therefore it is
becoming threat to other companies.
Strengths:
Reusable, Rechargeable, available in various sizes
The biggest strength of this mask is it reusable and people can recharge it after the usage it is
available in all sizes so anyone can buy this.
Threats:
Competitors
As the demand for mask is increasing so many new companies re entering in this field and
manufacturing mask so competition is one of the biggest threat for this company and their
product.
Our competitor is a clear mask
As the competitor is clear mask so they are also living in the same product that therefore it is very
necessary for this company to provide better quality mask to the customers (Genadinik, A., 2019). As
the deer mask is the strongest competitor who is manufacturing the mask and dealing in the same
market (Cadena and et.al 2020). But smart mask is providing good quality mask to the customers
therefore it becomes hard for clear mask to grab the customer of smart mask.
Opportunities:
the smart mask has ne if the biggest opportunity that it can easy to sell and people liking the mask the
Easiest deliveries
The delivery of this mask is easy and people can easily afford this mask as well.
Collaborating with other companies
To enhance the sales of this mask, this company can collaborate with other big companies who are
dealing in the same product. It will minimize the competition as well.
Competitive price
Prices of the mask is affordable so this is also an opportunity for the company that it is becoming
competition to other companies.
Strengths:
Reusable, Rechargeable, available in various sizes
The biggest strength of this mask is it reusable and people can recharge it after the usage it is available
in all sizes so anyone can buy this.
Threats:
Competitors
As the demand for mask is increasing so many new companies re entering in this field and
manufacturing mask so competition is one of the biggest threat for this company and their product.

Weakness
New to the market – this is one of the weaknesses for the product that they are new to the market and
big iconic companies are already dealing in the market. So it will become little difficult for this
company to enhance the customer base in the new market.

New to the market – this is one of the weaknesses for the product that they are new to the market
and big iconic companies are already dealing in the market (McKenzie, 2017). So it will become
little difficult for this company to enhance the customer base in the new market.

4.3 Marketing strategy
(In support of your business social media campaign, describe your
marketing and branding strategy, with reference to researched
materials. Identify the most appropriate strategies, (You may consider
a 4 or 7ps etc. )
Price
The prices of this mask are cheap and easily affordable for old income group people (Alonso and et.al
2018). The main motive of keeping the price low of this mass is that it is new to the market and people
and not having any idea about such kind of mask so the company is targeting all age group and all
income group people to purchase this mask. Apart from this the prices are low as compared to other
mask the main reason behind keeping the price low is that the demand for the mass is continuously
increasing and people want some change in their regular mask so the main motive of this company is
to provide something new and innovative to the consumers so that they can easily purchase the
product and also they can easily use this product in their day to day life. As mask has become a
valuable part of everyone’s life people can’t stay without wearing mask. The main issue in Mask is
being found that people can’t use one mask for so long so they need to purchase new mask and some
companies are charging high price from the customers therefore the prices of this mask is affordable
for all income group people.
Place
The place which has been decided for the selling of this mask is it can available at the physical stores
and it is available at their website as well. As the pandemic is still there so people are avoiding visiting
physical store for purchase of goods and products therefore it is available on its online website as well.
If any people purchase this mask from its online website they may get some discount and vouchers as
well. Apart from this company is doing free home delivery for this mask as well so that people can
purchase more and more quantity of this mask.
Promotion
Promotion and marketing activity is very necessary for any new product. As this product is new in the
market and customers are not well versed with the benefit of this mask (Hopp and et.al 2018). As it is
reusable and available in different sizes apart from this it is rechargeable as well but people are aware
about this quality of this mask so with the help of promotion and marketing activities company is
providing detailed information about the mass with the help of advertisement in newspaper and social
media. Companies using email marketing as well to make the people aware about the benefit of this
mask. On the website of the company each and every detail about the mass is available so that people
can did such information and they can make their decisions whether they want to purchase the mask or
not.
Product
This is totally new product in the market of mask. This product is reusable people can use it many
times apart from this it is rechargeable so people can recharge this mask again and they can use it in
their daily life. Apart from this one of the biggest quality of this product is that it is available in
various sizes weather whether it is being used by a child or a young age people for old age people it
will shoot to all age group of people. This is one of the biggest quality of this product which other
companies are not providing.
Marketing strategy

Social media marketing
Social media marketing plays a vital role in the sale of this mask. Social media has millions of active
users specially youngsters have a buzz about social media. Show the company is targeting various
social media platforms such as Facebook Instagram and Twitter to promote its product. Company will
post images and information about the product and with the help of different social media platform it
can tab to millions of customers in a day.
Email marketing
This is one of the cheapest ways of marketing for the new product. Any customer who bought the
product of this company with the help of its social media platform or Website Company will capture
all the necessary details of the customer. Show with the help of such details company will send them
email about the product and it and benefits so that customers can refer to this product to their friends
and families. As word of mouth of its customer is very important for the company and this is one of
the healthiest ways of promoting the product.
Branding strategies
To enhance the sale for the product it is very necessary for the company that they must win the heart
of the customers. This can only possible when the customer likes the quality of the product and they
know the benefits of the product. So for branding of this mask, company is providing advertisement in
newspaper and television and so that more and more customers come to know about the advantage of
this product.
4.3b. how and where will you launch your product or service.
People can only buy the product when they know the medium of purchasing search product. So to
enhance the sale for this product company will launch this product on the online website and it will
also available on the physical stores. Apart from this this mask will be available on E-Commerce
platforms as many people prefer to purchase goods and products from E-Commerce platform therefore
it is also a good place to sell the product and increase the revenue for the Mask. Whenever any
customer purchase the product from the online website of the company they will get any discount and
various offers for that in future if they again want to purchase the same mask they will not have to pay
high cost for The Mask as they will get many discount benefits. So the company is trying to increase
its sale from online website as due to rules and regulations many physical stores are shut. In this case
increasing sales from online website is only option available for the company.
Create a website and promote th e masks

Section Five
Operations and logistics
5.1 Premises and location. To enhance the sale of this mask company is focusing
more on its online website. Apart from this, company has its store in South Ealing
London so that people can easily buy this product and use it.
5.2 Equipment& Set up Costs and suppliers:
Product Supplier Cost.
Advance Rent/deposit 15000 15000
Manufacturing cost 10000 10000
Tools and machineries 25000
Machine set up cost 15000
Promotion and marketing
cost
20000
Cost of material 12000
Total supplier cost 25000
Total cost 97000
5.3 Transport needs: to sell the products in different cities this company requires transfer tape
transport needs such as distribution network.
5.4 Legal requirements:
Partnership Agreement etc. is necessary in such case when the company do partnership with other
mask manufacturing company so in such case they need partnership agreement.
5.5 Insurance requirements: As it is a manufacturing company of mask so it is very necessary
to get a insurance so that the fear of loss, theft and fire will get reduced. Apart from this company must
get fire insurance and theft insurance to protect their product from any kind of loss (Matović, 2020).
5.6 Other required Certifications: to sell the product this company must take license from
the government then only it can sell this mask.
5.7 Fixed monthly Costs as per cash flow:
Items Costs

Cash at the start of the month 10000
Cash sales 15000
Credit sales 5000
Cash outflow
Inventory 2000
Rent 3000
Wages 2500
Insurance 1000
Total cash outflow 8500
Cash at the end of the month 21500

Section Six
Costs and pricing strategy
Product/service name ( Select a single unit) Mask
Cost to your business per unit 40000
Price you charge per unit 2
Profit margin (£) 10000
Profit margin (%)
(Profit / Price x 100 = Profit margin)
12.5
Mark up (%)
(Profit / Cost x 100 = Mark Up) 25
6.b Your Pricing Strategy:

Section Seven
Cash Flow forecasts
7.1 Realistic cash flow Sales and costs forecast, including next 3 years’ projections, assuming you’ve received the start-up fund’s
you’ve requested. (Please edit to suit your need)
Jan Fe
b
Mar
ch
Apr
il Ma
y
June July Augu
st
Sept Oct No
v
Dec Total YR2 YR3 Yr4
Sales 1:
Loan 1000
0
150
00
1200
0
200
00
150
00
2000
0
1000
0
18000 1900
0
100
00
250
00
1400
0
18800
0
376
000
0
5640
00
58280
Investment. 2000
0
100
00
1500
0
250
000
180
00
1400
0
2000
0
18000 1700
00
150
00
200
00
1800
0
21000
0
420
000
6300
00
84000
Total Sales: 1000
00
120
000
1500
00
180
000
100
000
1500
00
1000
00
90000 1000
00
120
000
200
000
9500
0
15050
00
301
000
0
4515
000
60200
SET UP COSTS
TOTAL
3000
0
250
00
3000
0
450
00
330
00
3400
0
3000
0
36000 3600
0
250
00
450
00
3200
0
40100
0
802
000
1203
000
16040
Direct Costs:
Materials. 5000 300
0
4500 350
0
750
0
2500 5000 4500 3250 350
0
450
0
3200 49950 999
00
1498
50
19985
Stock. 2000 150
0
3000 150
0
100
0
2500 1500 1000 1000 140
0
130
0
1500 19200 384
00
5760
0
76800
Additional 1000 200 1500 200 180 3500 2500 1450 1250 250 125 1000 1500 214 4290 64350

Staffing 0 0 0 0 0 50 0
TOTAL Direct
Costs:
8000 650
0
9000 700
0
103
000
8500 9000 6450 5500 740
0
705
0
5700 90400 180
800
2712
00
36160
Fixed Costs:
Salaries 1 3000 300
0
3000 300
0
300
0
3000 3000 3000 3000 300
0
300
0
3000 36000 720
00
1080
00
14400
Rent. 2000 200
0
2000 200
0
200
0
2000 2000 2000 2000 200
0
200
0
2000 24000 480
00
7200
0
96000
Rates 1000 100
0
1000 100
0
100
0
1000 1000 1000 1000 100
0
100
0
1000 12000 240
00
3600
0
48000
Staff Wages. 1500 150
0
1500 150
0
150
0
1500 1500 1500 1500 150
0
150
0
1500 18000 360
00
5400
0
72000
Utilities/Gas/Elec 2500 250
0
2500 250
0
250
0
2500 2500 2500 2500 250
0
250
0
2500 30000 600
00
9000
0
12000
Phones. 2000 200
0
2000 200
0
200
0
2000 2000 2000 2000 200
0
200
0
2000 24000 480
00
7200
0
96000
Freight & Postage 1500 150
0
1500 150
0
150
0
1500 1500 1500 1500 150
0
150
0
1500 18000 360
00
5400
0
72000
Stationary. 1800 180
0
1800 180
0
180
0
1800 1800 1800 1800 180
0
180
0
1800 21600 432
00
6480
0
86400
Promotion & Ad. 2500 250
0
2500 250
0
250
0
2500 2500 2500 2500 250
0
250
0
2500 30000 600
00
9000
0
12000
Website. 5000 500
0
5000 500
0
500
0
5000 5000 5000 5000 500
0
500
0
5000 60000 120
000
0
1800
00
24000
Accountant 2500 250
0
2500 250
0
250
0
2500 2500 2500 2500 250
0
250
0
2500 30000 600
00
9000
0
12000
Legal 3000 300
0
3000 300
0
300
0
3000 3000 3000 3000 300
0
300
0
3000 36000 720
00
1080
00
14400
Transport 2000 200
0
2000 200
0
200
0
2000 2000 2000 2000 200
0
200
0
2000 24000 480
00
7200
0
96000
Vehicles 3500 350 3500 350 350 3500 3500 3500 3500 350 350 3500 42000 840 1260 16800

0 0 0 0 0 00 00
Insurance 2000 200
0
2000 200
0
200
0
2000 2000 2000 2000 200
0
200
0
2000 24000 480
00
7200
0
96000
Maintenance 2000 200
0
2000 200
0
200
0
2000 2000 2000 2000 200
0
200
0
2000 24000 480
00
7200
0
96000
Computers. 1500 150
0
1500 150
0
150
0
1500 1500 1500 1500 150
0
150
0
1500 18000 360
00
5400
0
72000
Misc. 1000 100
0
1000 100
0
100
0
1000 1000 1000 1000 100
0
100
0
1000 12000 240
00
3600
0
4800
Loan repayment. 1050
0
157
50
1260
0
210
00
157
50
2100
0
1050
0
18900 1995
0
105
00
262
50
1470
0
19740
0
394
800
5922
00
78960
Interest on loan. 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%
TOTAL:
5080
0
565
50
5340
0
618
00
565
50
6180
0
5080
0
59700 6075
0
508
000
670
50
5550
0
68550
0
137
100
0
2056
500
27420
Sub Total: Fix +
Direct Costs.
5880
0
630
50
6240
0
688
00
668
50
7030
0
5980
0
66150 6625
0
582
00
741
00
6120
0
77590
0
155
180
0
2327
700
31036
Net Profit: Sales –
Sub total
4120
0
569
50
8760
0
111
200
331
50
7970
0
4020
00
23850 3375
0
618
00
125
900
3380
0
10909
00
218
180
0
3272
700
43636

7.1: Three-year projections, annual proposed sales and Net profit only
7.2 Notes and assumptions to cash flow and projections:
Conclusion:

References/Bibliography
Alonso and et.al 2018. Management and business plan. In The Emerald Handbook of Entrepreneurship
in Tourism, Travel and Hospitality. Emerald Publishing Limited.
Cadena and et.al 2020. Neutrosophic AHP in the analysis of Business Plan for the company Rioandes
bus tours. Neutrosophic Sets and Systems, 34, p.16.
Ferreras- and et.al 2019. Entrepreneurial competences in a higher education business plan
course. Education+ Training.
Genadinik, A., 2019. Business plan template and example: how to write a business plan: Business
planning made simple. Alex Genadinik.
Hopp, C. and Greene, F.J., 2018. In pursuit of time: Business plan sequencing, duration and
intraentrainment effects on new venture viability. Journal of Management Studies, 55(2),
pp.320-351
Matović, I.M., 2020, June. Evolution of the Business Plan in Contemporary Business. In Proceedings of
the 17th International RAIS Conference on Social Sciences and Humanities (pp. 71-76).
ScientiaMoralitas Research Institute.

McKenzie, D., 2017. Identifying and spurring high-growth entrepreneurship: Experimental evidence from
a business plan competition. American Economic Review. 107(8).pp.2278-2307.

Appendix