Individual Venture Proposal: Entrepreneurship, QAB020X613A Module

This report details a venture development proposal for an app designed to facilitate the sharing and selling of textbooks, dorm furniture, and other campus essentials among university students. The app, named "Shared Campus," aims to create an economic ecosystem within universities, allowing stu...Read More

Individual Venture
Development Proposal

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 2........................................................................................................................................3
TASK 3........................................................................................................................................5
TASK 4........................................................................................................................................7
TASK 5........................................................................................................................................8
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................11

INTRODUCTION
In this report we are trying to develop an app that will help the student at the
universities to share their text books, dorm furniture, campus electronics, lecture note etc.,
to those students who require them. Through the development of this app we are trying to
let the students of the universities to sell their books which are of no use to them to the
students of the university in exchange of money. We will list all the different campus for the
students and this app will be user friendly so that the student can easily get what they want
without much problem. The app will let the service provider offer their books, notes etc. to
the app for a particular fees and the user will access the required book, notes etc. and they
will pay the fees the service provider will ask and both the party will pay some commission
to the app which will be the sales of the company. The business idea of developing this
app is that they will target the local universities and college students. The app is similar to
any other shared economy apps. The main highlight of this app is that they have their own
storage so the student can access their books from the app itself which will differentiate
them from other app and help the business stand out in the economy. There is a forecast
of profits, sales revenue, gross profit margin and operating profit margin for the first 3
years given below-
Particulars Year 1 Year 2 Year 3
Sales revenue 10000 10200 10404
Gross profit 2000 2100 2050
Operating Profit 2500 1530 1560.6
Since it is the starting of the business the company is expecting a slow growth as there are
a lot of cost to be covered therefore the company is expecting a low profit margins. The
sales are constant over the 3 years and the operating profit is likely to decrease because
there are a lot of operating cost like administrative cost, distribution cost etc. the company
idea is unique so once the non recurring cost is covered in the initial years the company is
likely to make profit in the long run. The company must take care of all the internal as well
as external factors so that they remain competitive in the market and increase their market
share as much as possible.

TASK 2
Customer Value Proposition Canvas-
It is the tool which can help in ensuring that services and products is positioned
around the needs and value of customer. It was developed by Dr. Alexander Osterwalder.
It is helpful in estimating that it is fit among the market and product. It can be used if there
is the need to refining service offering or existing product or if there is a new offering which
is developed from the scratch (Chernopyatov, 2018). It is developed around the two
building blocks that is company's value proposition and customer profile.
Customer Profile-
Gains-
The application is helpful in creating and developing the better economic benefits to
the students so that they can use the notes for temporary use and could use purchase that
notes and books which are important for the study. This has also created the source of
earning for student as they can earn some amount of money by selling their old text books,
lecture notes, printers, scanners, dorm furnitures etc.,
Pains-
Under this entrepreneurship the narrow market is being targeted under this
application development. As they can target only the university at their initial level.
Launching of this product might be expensive in the initial year as it would not be so much
popular to the student but further if it becomes popular then it can be sourced by student
and thus it will be profitable.
Customer Jobs-
This application will be used by the university and college student and further in
which student can sell their text book notes, books, study material, printers, dorm furniture
to the needy student and for that they will get money in return (Ferdousi, 2015). It is the
platform where the customer and buyer could meet and satisfy their needs and wants.
Value Proposition Map
Gain Creators-
By this application customer can gain monetary incentives by selling or renting their
text books, lecture notes, printers and dorm furniture etc., It offers the added value to the
consumer as the needy student in the university and can get their class notes easily on the
minimum price, which is helpful for both the aspects of consumers.
Pain Relievers-
This application will be costly at the initial stage but further it will be providing the
discounts to their regular students so that it is reasonable to them. This will helpful in

reducing the pain of consumer and the costing will also be reduced further as it will
become more popular. Then it will not be such expensive. Further the target market will
also be expand and it will transform into many more universities.
Products and Services-
The application which is named as “Shared Campus” is to be developed by the
entrepreneur in marketplace for the student of university in which they can share their
books, form furnitures, notes, second hand books and other necessary item in the
campus. It is helpful for student to earn money by selling these materials to student. And
so the needy students could get their notes and books at affordable price (Afolabi, 2015).
TASK 3
Lean Business Model Canvas-
The Lean Business Model Canvas is the adaption of Business Model Canvas which
is specially developed and designed of entrepreneurs. It mainly focuses on 9 blocks
concepts which are key partners, key activities, value proposition, customer relationship,
customer segments, key resources, channels, customer structure and revenue streams. It
is more entrepreneur focused and more accountable. The model mainly focuses on start-
up factors which are risk and uncertainty.
Key Partners-
Student will be idle resource in the development of the application. They will be
targeted under this as they will only be the consumer and other will be the buyer. So they
play a major role in this entrepreneur. The other key partner in these entrepreneurs is
campus authorities. The another one is campus items suppliers who are responsible for
supplying the items to the students.
Key Activities-
The business will be managing the functioning of application as the application is
properly working or not. They also ensure the reliability of their application, that it can be
rely by the student and they can easily sell or purchase the notes and books here easily
(Abubakar, 2015). The safe payment transaction is being provided under the application
so that the payment is secured. They also manage the user's data. The storage unites are
also managed by them as the items will be stored in the storage unit.
Value Proposition-
The value propositions campus is being checked first so that the student's needs

are to be satisfied easily. The customers are delivered with the reliable, secure payment,
notes and text books which are required by them according to their needs and
requirement. They can also purchase the second hand books so that they don't have to
spend a wide amount for purchasing the new books. The students are to be satisfied
under this entrepreneur (Edoho, 2015).
Customer Relationship-
Long term customer relationship will be focused by the business. This will help the
entrepreneur to gain the huge profit from the deals which are being made by the students
while transferring and selling their notes and books to the other needy students. In starting
it will not be much popular and profitable but with the long term customer relationship they
can attract wide range of consumer to the application and thus the costing of the company
will be paid out and they could gain profits further.
Customer Segment-
The student of University of Roehampton and other universities and colleges which
are nearby these. The all classes are being focused on under the business segment. The
important customers will be student. As they are the target customer for our application.
The application is mainly based on the student of the university and its nearby institute.
Key Resource-
Digital infrastructure will be required by the business as for developing application it
is the major thing which is being required by the entrepreneur (Kurowska 2016). They will
need the storage unit for storing the units in it so that they can store huge amount of items
in it which can be further delivered to the student if it is required by them. Capital which is
the initial level for starting the business as every business need the capital amount for
starting a business. The amount of manpower is required in the business. As they had to
store the items in the storage units and further they had to deliver that item to the needy
student which had purchase the notes, books etc. by the application. Data-base is majorly
required by the business to store the data of their customers so that they can safeguard
the data of the customer and manage it properly.
Channels-
Distribution channels of communication is used by the business for reaching to the
consumers. The communication channels will work best as they can be aware of the
application benefits and further it can be used by them so that the popularity of application
will be reside among the student (Sekliuckiene and Kisielius, 2015). It doesn't cost much to

the business. The daily interaction with the students and interaction with them is helpful in
attracting the consumer.
Cost Structure-
This start-up will need an initial investment of 170000 GBP. 55% of initial capital
which will be invested by investors and the rest amount will be borrowed from other
financial sources. The application manufacturing can cost the huge amount to the
company further the storage unit can also be costly to the company as it depends on the
availability of space for storing the units.
Revenue Stream-
The customer had to pay the transaction fee for using this application for further
dealings (Fortunato and Alter 2015). The customer could also be paid for the
advertisement which is being published by them for selling their lecture notes, books,
printers and dorm furniture etc., so that if any student require that notes and books they
can purchase that by seeing the advertisement.
TASK 4
C Level Specialist Contribution-
CMO Marketing-
Chief marketing officer plays a major role in the implementation of business
activities for the further growth and development of application (Adhikari, 2018). They
mainly aim to promote and market the application by developing different strategies and
plans so that they could aware the students about the application and encourages them to
use it. They are helpful for raising the awareness among consumers and let them to
understand benefits of the application. If the product will nit be promote than this can't be
further popular among the consumers and thus it can't be profitable to company. The
another main role is played by the finance officer as they are responsible for setting the
financial budget for the marketing, promotions, operations and other expense this all must
be done by them effectively so that all things are managed and could contribute the
appropriate amount for the expenses which are to be incurred by the company (Leonidou,
2018). It is very helpful for business to access with the perfect amount of fund for the
particular business activity so that the company have a financial backup so that company
could not have loss at any situation. The marketing is to be done with the budget that must
be further decided by the financial officer so that the estimated budget is to be taken for

further marketing plan and strategies.
Customer Engagement Plan-
Customer engagement plan is to be developed by the business for encouraging
customer to the product and services which are being rendered by the business. It is
helpful for business in gaining the brand loyalty and growth. It is helpful in maintaining the
strong customer relationship among the consumer and brand. As the highly engaged
customer's means they would buy more and promotion of the product will be done in wide
range and thus company will gain huge brand loyalty. By developing this plan they can
create the high quality customer experience is important components for their customer
engagement strategy (Blackburn, 2016). Under this plan at the primary stage the
investigation and research will be done for justifying the business idea. University of
Roehampton's are being surveyed by using semi-structured questionnaire. So that they
could get the response from the student regrading the potentials of application for its
proposed nature. However, they can implement their product according to that which can
be further helpful for company in mandating their application according to that, which is
helpful for them in satisfying the consumer with their needs and demands. The 100
students sample will be collected for conducting survey in the three week span timeline.
Related secondary data will be collected for understanding the potential market's elements
and the dynamics in industry or segment where the product is being introduced and the
place where business activities could be conducted. This plan is helpful for the company in
estimating the needs and requirement of the consumer for their application that are
students. By availing the needs and demands of the consumer they can get with the
strategies a plan so that they can develop their application according to the needs and
requirement of the consumer. This bis helpful for them in gaining the huge customer
attraction toward the application and wide range customers can be attracted to the product
(Schaper, 2016). They can promote their product according to that so they can attract the
students. They can also avail the student about the benefits of their application so that
they are encouraged them to use that application and ask them to promote their product
further. This is also helpful in promoting their application to the students and further they
will be motivated to use that application.
TASK 5

Break-Even analysis
Particulars Formula Figures
Selling price per unit 10
Variable cost per unit 6
Contribution per unit
Selling price per unit - variable
cost per unit 4
Fixed cost 20000
BEP (in units) Fixed cost / contribution per unit 5000
BEP (in value or monetary terms)
BEP (in units) * selling price per
unit 50000
Units need to sell for attaining desired profit margin
Particulars Formula Figures
Fixed cost or expenses 20000
Desired profit 5000
Contribution per unit 4
Number of units required to sell
Fixed cost + desired profit
margin / contribution per unit 6250
Cost structure
Particulars Year 1 Year 2 Year 3
Labour 2000 2000 2000
Other expenses 2200 2288 2380
Administration expenses 4000 4000 4000
Break even analysis is the financial tool which is helpful for company to determine
at what stage company is and how much profitable the new product and service will be
(Hasan, Khan and Nabi, 2017). It is the financial calculation for company in determining
number of products and service which are rendered by the company to their customers
should have the costing which cover all their expenses which are incurred in the business.
In the report break even analysis of the new entrepreneur is being conducted in which
company had to sell 6250 units per year so that they can gain the profit. They had to sell
their product at the minimum price that of 4 per unit so that they couldn't have any loss.
The other expense by the company for year are labour it will be constant that is 2000
which could be raised in the near future. The administration expense for constant three

year will remain same and can be raise in near future (Varga, 2018). Other expenses can
be raise in each year that is in first year it will be 2200, 2nd year it will be 2288 and in 3rd
year it will raise and become 2380. it can be constant as the other expenses can be
anything which can never be less or constant that tends to increase year by year. The
company's other expense will decrease in few years when the company will tend sot earn
the huge profit margin in the proceeding further year. It is the level where company can
arise their product costing so that there profit will also e raised easily.
CONCLUSION
From the above study it is concluded that the individual venture development
proposal is very necessarily prepared by the company for the further development of the
company's new business. It is helpful for company in optimizing all the factors before
implementing the product in the market for the business operation. With the help of theses
company can develop their product strategy according to that so that they gain huge
customer attraction toward the product which is being launched by them. They can avail
the business risk and further costing which is being incurred by company while running
and stetting up the business. It is very useful technique so that a new entrepreneur can be
well established with the help of that and further work and implement it is into their
business activates. They can also have market segment research with the help of that they
can analyse the consumer needs and demands for their application and they can be easily
attracted towards the product. Product can also be modified according to the requirements
of the consumer estimated cost can also be calculated so that the capital can be
consumed according to that they can set up very single business strategy which is further
helpful for entrepreneur to well establishes it and maintain their growth and brand loyalty
among consumers.

REFERENCES
Books and Journals
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Journal of Entrepreneurship, Management and Sustainable Development. 11(4). pp.281-
294.
Adhikari, R.P., and et.al., 2018. Applying a community entrepreneurship development framework to
rural regional development. Small Enterprise Research. 25(3). pp.257-275.
Afolabi, A., 2015. The effect of entrepreneurship on economy growth and development in Nigeria.
The Effect of Entrepreneurship on Economy Growth and Development in Nigeria. 3(2).
pp.1-17.
Blackburn, R.A., 2016. Government, SMEs and entrepreneurship development: Policy, practice and
challenges. Routledge.
Chernopyatov, A., and et.al., 2018. Entrepreneurship development and business activity in the
Russian Federation. Journal of Entrepreneurship Education. 21(4). pp.1-12.
Edoho, F.M., 2015. Entrepreneurship and socioeconomic development: Catalyzing African
transformation in the 21st century. African Journal of Economic and Management Studies.
6(2). pp.127-147.
Ferdousi, F., 2015. Impact of microfinance on sustainable entrepreneurship development.
Development Studies Research. 2(1). pp.51-63.
Fortunato, M.W. and Alter, T., 2015. Community entrepreneurship development: an introduction.
Community Development. 46(5). pp.444-455.
Hasan, S.M., Khan, E.A. and Nabi, M.N.U., 2017. Entrepreneurial education at university level and
entrepreneurship development. Education+ Training. 59(7/8). pp.888-906.
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model exemplified by the Polish–Czech border region. Sustainability. 8(3). p.230.
Leonidou, E., and et.al., 2018. An integrative framework of stakeholder engagement for innovation
management and entrepreneurship development. Journal of Business Research.
Schaper, M. ed., 2016. Making ecopreneurs: Developing sustainable entrepreneurship. CRC Press.
Sekliuckiene, J. and Kisielius, E., 2015. Development of social entrepreneurship initiatives: a
theoretical framework. Procedia-Social and Behavioral Sciences. 213. pp.1015-1019.
Varga, A., and et.al., 2018. Estimating the economic impacts of knowledge network and
entrepreneurship development in smart specialization policy. Regional Studies. pp.1-12.