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Introduction to Business Lecturer : Tay Shir Men
PROJECT 1 : BUSINESS PLAN PRESENTATIONGroup Members : Joseph Soh
Tang Fu Hong Tan Jit Kim Teh Wei Hong Thomas Ting Shii Kai
Home cooked food, without the hassleWe deliver fresh ingredients and exciting recipes to your
doorstep so you can make your own healthy meals at home
How It Works?
Watch Me Cut, Watch You Cook Cook!!
BUSINESS BACKGROUND
iRecipeAddress : No. 8A, Jalan SS15/4D, Subang Jaya, Petaling Jaya.
Contract no: 05-80567521
E-mail :[email protected]
Business hour: 9a.m ~ 5p.m
▪ We are specialized in producing secret recipes and are cook by consumer
▪ One day delivered before wanted date▪ Organic▪ Fresh▪ ONLY in SUBANG JAYA AREA▪ Pre-Order 3 days before wanted date
Information
Location
▪People does not cook well▪Have no time▪Doesn't know what to cook▪Can have fresh meal▪Eating organic meal▪Any pax▪Different cuisine
Reasons for Creating This Business
MARKET ANALYSIS
HOW BIG IS THE MARKET ?
95%
5%
iRecipe Other competitors
Customers and Their Backgrounds
• The average family income in Subang Jaya range between low to high income that education level is from minimum high school to postgraduate.
• All races residents and students from Taylor’s, Sunway and Inti within Subang Jaya area .
• The population of Subang Jaya is 708,296, we target 35414.8 citizens of the area.
TRAVEL TO THE MARKETS WEEKLY TO BUY REQUIRED INGREDIENTS?
COMPETITORSThe business faces competitive competition from our potential competitors such as fast food chains such as McDonalds, KFC, Pizza hut and Domino Pizza.
Strengths- Able to prepare food in a short interval of time which will meet the fast pace of modern lifestyle.Effect- Easy and fast
Weakness- The food they offered does not contain all the nutrients needed by the human body systemEffect-This is also contributed to a higher obesity rate among the people.
What are their strengths and weaknesses?
MARKETING STRATEGIES
BENEFIT OF OUR PRODUCT HEALTHY
ORGANIC INGREDIENTS
TARGET FOR VEGETARIAN
TOO!!
WHY? Halal certified products can be advertised as Halal and can also display the registered trademark Halal logo on their packaging, hence making the products readily acceptable by Halal consumers.
HALAL
TUTORIAL VIDEOPosted on YouTube to teach by example and supply the
information on the cooking method
PRICINGi) Meals for a day(Single)- RM30 to RM50 ii) Meals for 3 days (Single)- RM80 to RM140 iii) Meals for a day(2PAX)- RM40 to RM70iv) Meals for 3 days(2PAX)- RM110 to RM200- Every single package will only have 3 dishes per
meal.- Every 2 PAX package will have 5 dishes per meal.
i) EveryfirsttimeconsumerwillbegivenacodewhichdiscountsRM15.
ii) Applyforamembershipfromourwebsitewillget10%ofdiscountoneverymealyouordered.(RM50formembership&itlasts6months)
iii) Wheneverspecialoccasioncomes,wewillbegivingapromotioncodewhichcangetLUCKYDAYMEALS(freemealsofaday)ordiscountforabout30%.
iv)AFacebookpagewillbecreatedinordertoadvertiseourmealsandalsotoinformtheusersaboutourdailymealsupdate&etc.
Advertising and Promotional Activities
MANAGEMENTSTRATEGIES
WHY? – Easier to get more capital . Easier to borrow money from bank. Simple and low cost legal paper work.
Legal Ownership – Partnership
CEO
Assistance
Marketing & Advertising
Sales Accounting & Finance
SupplyChain
Human Resources
• Media & Billboards
• Clerk • Receptionist
• Deliverer • Leafleteer • Accommodation
• Accountant• Transporter • Procurement
Specialist
Assurance of Halal by JAKIMThe examination should not create or give rise to any question or doubt and the examination process has covered all aspects of :• Preparation• Slaughtering• Processing• Handling• Storage• Transportation• Cleaning• Disinfection and • Management Including Intentional Practices.
FINANCIALPLAN
Calculate Business Set-up Cost
Accounting fees Registration and licenses
Equipment and fit-out Initial working capital
Accounting Fees
Each person contribute RM20,000
Total 20,000 x 5 = RM100,000
Registration and licensesTotal : RM2,000
Equipment and fit-outIngredients : RM500
Cooking Equipments : RM14,000 Containers and Boxes : RM1,000
Vehicles : RM3,000 Total : RM18,500
Initial Working Capitalper year
Range of Worker’s Salary : RM10,000 Advertisement : RM500
Utility : RM5,000 Equipment and fit-out : RM18,500
Registration and licenses : RM2,000 Total : RM36,000
Forecast of Sales and Expenses
Sales Revenue to Cost of Goods sold and fixed costs of doing business
Put the pricing model to the test
–Johnny Appleseed
“Type a quote here.”
Forecast to the next twelve months
Total : RM135,000 divided by 5Each partner gets RM27000
–Johnny Appleseed
“Type a quote here.”
Forecast the balance sheet
–Johnny Appleseed
“Type a quote here.”
Forecast the cash Flow
RM2,250+per month
RM2,250+per month
CONCLUSION
CONCLUSIONIn the early stage, we would probably aim our target of market on the customers from Subang Jaya. In the future, if our business runs pretty well, we would enlarge it to the whole MALAYSIA and make it worldwide. Every branch of us will serve different menu of food which depends on the culture and tradition of the place. (target of market)
Hence, more special offers and type of interesting advertisement will be portrayed via different channels. (iRecipe>competitors)
Not only that, we will increase and make more benefits for iRecipe’s members in order to attract more customers to apply for our membership system. (marketing strategy) << etc.
In the future when starting to enlarge our business, at first we might loss some money but at the end can earn x 3 back.
REFERENCES
Malaysia: New guidelines on halal certification. (2013, March 24). Retrieved October 29, 2015, from http://halalfocus.net/malaysia-new-guidelines-on-halal-certification/
Financial plan template. (n.d.). Retrieved October 30, 2015, from https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html
Financial plan template. (n.d.). Retrieved October 30, 2015, from https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html
References