Assignment Sample: Business Plan of Dubasket Company

BUSINESS PLAN

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EXECUTIVE SUMMARY The present business plan is on Dubasket that is customised gift basket company that deals with the delivery to customers that makes order on their site. The company offers wide variety of products to the customers in order to provide them satisfaction. Further in addition to this the plan includes the target market for the business that involves individual and corporates.

The cash flow statement of the company shows that Dubasket will be able to earn huge profitability through this business. This is because there is huge potential for such industry in the market as a change in the life style of the people in Dubai. The company is operating in Dubai and is going to advertise its products through online social networking sites that can assist in covering large mass.

The sales of the company is growing which provides that there is immense growth for industry in the market. The adopt certain process of delivery in order to make sure that products are offered to customers within specified duration of time. The team structure of Dubasket is consist of director under whom managers of various departments perform their respective functions. Under these managers there is are team members that reports their respective authority.

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TABLE OF CONTENTS Business details................................................................................................................................4 Description of products and services...........................................................................................4 Mission and vision.......................................................................................................................4 IP addressed.................................................................................................................................4 Team introduced...........................................................................................................................4 MARKET AND INDUSTRY ANALYSIS .....................................................................................5 PESTLE Analysis.........................................................................................................................5 Industry trends.............................................................................................................................5 Target market and customer segment identified..........................................................................6 Direct and indirect competition identified and analyzed.............................................................6 Marketing plan ................................................................................................................................6 Sales and Advertising with cost included in cash flow................................................................6 Supporting sales forecast assumptions listed...............................................................................7 Operations .......................................................................................................................................7 Details of how the product service delivered...............................................................................7 Suppliers and Logistical issues identified....................................................................................9 Skills and resources identified.....................................................................................................9 FINANCE......................................................................................................................................10 Cash flow forecast......................................................................................................................10 Appropriate funding amount and sources identified..................................................................10 Financial assumption listed........................................................................................................11 ArGUMENTS................................................................................................................................11 SWOT Analysis..........................................................................................................................11 Clear argument based on research to support the overall business plan making sense.............12 Major risks addressed................................................................................................................15 REFERENCES..............................................................................................................................17 ......................................................................................................................................................17

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BUSINESS DETAILS Description of products and services The present business plan is on Dubasket. The company will be based in Dubai, United Arab Emirates. It is the customized gift basket company that deals with the delivery to customers that makes order on their site. The user can create account on the site and can order custom gift basket that contains list of several products as well as edibles.

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Dubasket Ltd. Aims to become partner with major players in the gift industry. Further, it wants to tie up with major retailers in the region that includes Body Shop, Patchi and Marks & Spencer.

The business offers online ordering services to the clients. With this, customers can place order on user friendly website. There are various basket types that are offered by the company and which includes Valentines Day, Mothers Day, Fathers Day, Baby Showers, Birthdays and other celebrations. Dubasket deals in the variety of products that includes perfumes, creams, baby shower products, flowers as well as cookies and cupcake.

Mission and vision The mission of company would be to offer superior quality customized gift baskets.

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IP addressed Similar IP address is assigned to all the systems that have been placed in the premises in order to gain the information regarding orders that are placed by the customers. This is important so that employees can establish connectivity with one another. Further, the data of one department can be easily accessed by another with the similar IP address. Along with that, this would assist in keeping a track on the process within business in an effective way.

Team introduced The team structure of Dubasket involves the director at top most under whom the managers of various departments such as finance, sales, information technology, human resources and operations will perform. Under these managers, there will be team members who can conduct particular operation in an appropriate way. Thus, this will result in performing each task with expertise and professionalism.

MARKET AND INDUSTRY ANALYSIS PESTLE Analysis There is existence of various external factors that has impact on the operations of Dubasket. The factors of external environment that can affect the working of business are enumerated as below: 

Political factors: The policies of government in Dubai regarding taxation has to be considered by the business as this has major impact on its operations. The changes in rates of taxation affects the pricing of products and services that are being sold by Dubasket.



Economic factors: Under this, the factors such as rate of inflation and economic growth affects the firm and its success. The increase and decrease in such factors will positively or negatively influences the sales of company.



Social factors: Trend plays an important role in influencing and changing the life style of people. The change in attitude and perception of customers have major impact on the gift

basket company.

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

Technological factors: Technological change in the external market has huge impact on the operations of business (McKeever, 2012). Organizations has to bring updation in its process of delivery and ordering as per the technological updation so that it can fulfill the needs of the customers in an effective way.



Environmental factors: The gift basket company makes use of the raw material from environment. Thus, consideration is given on the preparation of products without harming the environment.

Industry trends The new business Dubasket has got immense potential in the industry, as there is increase in the social network of an individual. Thus, this has resulted in enhancing their life style greatly.

With the enhancement in their living, the people of society has found the need for social gatherings and parties. With this, there arises the need for gift basket company. This market is booming and has huge potential for earning profits. In present era, the individuals have busy schedules and do not have time to carry out such activities. Thus, with this, need for gift basket arises that offers gifts at the places of customers.

Target market and customer segment identified The segmentation of customers for the present business of gift basket possess two distinct groups that includes individuals and corporate. 

Individual: This includes the people who are looking to give a gift basket as a gesture of goodwill to their friends, relatives and colleagues (Anderson and Khedair, 2009). Such target market will not have any idea regarding the type of gift basket to be offered.



Corporate: These customer segments consists of individuals who typically buy the basket for colleagues at work as a sign of appreciation or at certain special event. This market is further categorized into banks, heath care, real estate, employment gifts, special events, automobile dealership and corporate headquarters.

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Direct and indirect competition identified and analyzed There are several organizations that can give direct and indirect competition to the new business Dubasket. These are as follows: 

R Basket company: It is a business in United Arab Emirates that is specialized in delivering fresh floral arrangements for all occasions to the customers in Dubai. R Basket allows the customers to place order online for exotic flower arrangements, buying chocolates online or choosing other gift for any special event. The firm provides customers a streamlined, web based gift selection procedure that is designed to deliver more than a gift. It provides customers with an unforgettable experience.



Mange Tout: It is company based in Dubai that offers quality gift hampers. It also sends gift hampers in SriLanka, India, Pakistan, Kuwait, Saudi Arabia, Ireland and South Africa. It has presence at various location that has assisted it in gaining huge popularity in the market and having large base of customers.

MARKETING PLAN Sales and Advertising with cost included in cash flow The company will make the sales of the gift basket online. Through this it can cover large mass within shorter time span. In order to promote the business Dubasket can adopt various methods that includes advertisement on the online sites. This assist in promoting the products in an appropriate manner. Further by putting hoardings at various locations the company can make people of Dubai aware about the services that are offered by the company (Schiraldi and Silva, 2012). In addition to this the company place its advertisement at various social networking sites so as to make customers know about the products that are delivered by Dubasket along with its prices. The cost of advertising and sales that is being represented in the cash flow is as under AED 25000 in the first year.

Supporting sales forecast assumptions listed The sales forecast that has been assumed for Dubasket Ltd. is increasing greatly. This is because of growth in the overall gift basket industry. As the individuals are becoming more busy thus they do not have time to decorate gifts for their relatives, friends and colleagues. Through TOLL-FREE NO: +44 2038681671 WHATSAPP NO: +44 7999903324

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this facility they can give best gift to their close one that is designed in an effective manner. The sales of the company is assumed to be growing as it has viewed that this industry has huge potential in the market. Hence the company's sales is increasing tremendously that has impact on its overall profitability.

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OPERATIONS Details of how the product service delivered The company Dubasket will have online stores where baskets of varied sizes will be displayed. This allows the customers to make selection of products as per their need. More they can make payment through PayPal and Visa. A specific delivery process will be followed at Dubasket so as to offer convenience to the customers and to ensure smooth working within the business.

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

Place an order: Firstly the order is placed on the website from the selection list from where the customer can choose their products they would like in their basket. At this stage customer can place order of the basket which they desire to buy from the list of baskets that are offered by company. In addition to this while ordering the customer will make the payment for the product online.



Payment received: The finance manager will then confirm that the payment has been made by client. Further the executive of finance will forward the order to operations manager for further processing.



Contact Supplier: The operations manager of Dubasket will then interact with several suppliers and partners of Dubasket so as to order to goods. By contacting the supplier company can arrange for the products that are required in the basket.



Order desired goods: After contacting the supplier Dubasket can order desire goods that are desired by the customers. With this they can effectively satisfy the needs of clients.

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

Assemble basket: The ordered goods are then received at the office where there is existence of skilled workers. These expertise employees will decorate and assemble the basket in accordance with the requirement of the client.



Deliver to customer: The distribution team at Dubasket lastly makes the delivery of finished basket to the customers in the specific interval of time. Thus by making delivery the customers needs for the gift basket can be satisfied in an appropriate manner.

Suppliers and Logistical issues identified There are various issues faced by Dubasket that are related to suppliers and logistical.

These have been demonstrated as under: 

Flow of information: The major issue is faced in transmitting the information to suppliers for the delivery of the products that are required to assemble basket. Thus information flow is lengthy process as the assembling of basket is done at another location and the material for gift basket is gathered from some where else.



Movement of product: The major issue faced by logistics is in making safe delivery of products as per the order placed by the customers (Jones and Penaluna, 2013). Sometimes due to long distance the breakdown of product cam occur. This acts major issue that can create dissatisfaction among customers.



Time/ service: This can be major issue as the customers desires to obtain the products within specified time period. Delay in making delivery can result in causing dissatisfaction among the clients. As and when the order is placed it is essential to process it and obtain the products that are required for gift basket.

Skills and resources identified The skills required for the proper performance at Dubasket involves creativity in designing and decorating the baskets. This is necessary so as to make it attractive for the customers. Further in order to handle the various departments the employees needs to possess specialization in the respective area.

The resources required for designing the basket includes creative and decoration material.

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manner. Further computer or laptops are required in order to gain information regarding the order placed by the customers and their requirements.

FINANCE Cash flow forecast year 1

year 2

year 3

Money in All sales Money out Legal Consultants Stationary & Office supplies Website creation Start-Up Expenses Start-Up inventory sales and advertising cost Long-term assets total expenses Operating cash flow

180000

247500

315000

50000 25000

55000 30000

60000 32000

10000

15000

20000

1000

0

0

86000

0

0

0

0

0

25000

30000

35000

25000

0

0

222000

117500

147000

42000

117500

168000

Appropriate funding amount and sources identified The initial investment done is AED 350000 this has been taken from taken from various sources that includes internal as well as external sources of finance. AED 170000 is used from personal saving amount. Further the rest of the amount is taken from various external sources such as bank and in leasing (Gift Basket Marketing Plan, 2015). The company has taken loan TOLL-FREE NO: +44 2038681671 WHATSAPP NO: +44 7999903324

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from bank so as to fulfill its long term requirement of the business. Bank loan acts as a effective sources that is used by business in meeting its needs in an appropriate manner. In addition to this Dubasket has leased building for which it has to make payment of rent. This is done due to shortage of capital with the business.

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This would assist the business in saving the amount which would have incurred in purchasing the land or building to set the business. Both these sources has assisted business in satisfying the long term business needs in an effectively.

These are various other sources that have been identified in order to finance the new business that is Dubasket. The company can also obtain funds through overdraft facility so as to meet the working capital requirement. In this the business can withdraw more amount then what is present actually in the account. In order to use this company has to make payment of interest.

Financial assumption listed Various financial assumption has been made in determining the finances of the business.

This has been assumed that with the growth in the industry the sales of the firm is also enhancing in the consecutive years. Further the expenses of the company has been assumed on the basis of per unit cost that is incurred by the business in preparing single basket. With the increase in sales TOLL-FREE NO: +44 2038681671 WHATSAPP NO: +44 7999903324

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the expenditure of the company per year is increasing. It has been assumed that company makes profit of 15.5% on each basket.

ARGUMENTS SWOT Analysis SWOT analysis has been carried for initiating key strengths and weaknesses of the organization and it will also help in drawing out opportunities and threats that can be faced by Dubasket.

Strengths 

Company vendors have got local and high quality ingredients for producing their products.



Dubasket is making use of artistic flair which enhances the overall appearances of the basked which is unmatched in the entire market.

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Business has got lower overhead cost which in turn leads to excellent margins and flexibility in manufacturing.

Weaknesses 

In the beginning if business is able to generate higher sales than they will require to match up their orders to fulfill demands of their customers in an appropriate manner.

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Dubasket need to carry out limited marketing budget for generating awareness with respect to the products and services of the company.

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Organization need to incur limited number of hours a day limits time on their sales/business development for fulfilling their relative orders.

Opportunities 

Business is going to participate in an industry which is quite steady in terms of their sale.



Marginal cost is going to decrease with the sale of every basket as fixed cost is going to get distributed on every product.

Threats

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

Dubasket is going to heavy competition from industry players such as gorillas like Hickory Farms or substitute competitors like FTD.



It has been seen that industry has got high attractiveness that can lead to entrants of new players in the market.

Clear argument based on research to support the overall business plan making sense For understanding this industry in a more effective manner proper survey research was carried out in order to understand the perception of consumer towards this business. Data has been collected from the sample size of 50 customers.

From the above figure it can be interpreted that most of the respondents said that yes (90%) carry out their purchase of gift baskets for a particular occasion. This shows that this market has got higher capability for generating revenues for the enterprise.

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Above figure details about the occasion in which customers carry out purchase of a gift basket. In this respect most of the respondents expressed that on birthday (40%) and valentine’s days (25%) most of the purchase is carried out by the consumer. This shows that business must be prepared while carrying out their operations on valentine day. But for the birthday occasion they must keep higher stock keeping theme for this particular occasion.

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One of the other question asked by the researcher was with respect to carrying out purchase of such basket through an online store. This questions result also indicated that majority of them will be going to carry out online store purchase. Very few said that they will not be purchasing gift basket through an online source.

Another question asked by the investigator was regarding the products they prefer the most in their gift basket. In this respect majority of the customers said that flowers (35%) and cookies (30%) will be their major preference in a gift basket.

Major risks addressed 

Business is going to face very good competition from their competitors, so they need to formulate effective strategies in order to cope up with the competition (Hiduke and Ryan, 2013). If they will not overcome this major threat then can lose the market share and can even be out of the market after a few period of time.

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ï‚·

This industry has got high attractiveness there will be lots of companies who will like to participate in this market as they need to have to incur huge start-up cost for running such organization. If proper planning will not be initiated then it is going to have great risk on the operations of the business.

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REFERENCES Journal and Books Anderson, M. and Khedair, J., 2009. Successful Business Plans: Get Brilliant Results Fast.

Crimson Publishing, Limited.

Hiduke, G. and Ryan, J., 2013. Small Business: An Entrepreneur's Business Plan. 3rd ed.

Cengage Learning.

Jones, C and Penaluna, A., 2013. Moving Beyond the Business Plan in Enterprise Education.

Education + Training. 55(8/9).

McKeever, M., 2012. How to Write a Business Plan. Nolo.

Schiraldi, H. and Silva, J., 2012. Writing a business plan: reference tools to assist budding entrepreneurs. Reference Reviews 26(8). pp.7–9.

Online Gift Basket Marketing Plan. 2015. [Online]. Available through: <Casadogalo.com/>. [Accessed on 26th March 2015].

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APPENDIX Questionnaire Do you carry out the purchase of baskets for a particular occasion?  Yes  No On what occasion do you make a purchase of a gift basket?  Valentine’s Day  Mother’s Day  Father’s Day  Baby Showers  Birthdays  Other celebrations Will you be carrying out purchase of such basket through an online store?  Yes  No Do you think purchase carried out online satisfies your need?  Yes  No What kind of products do you prefer the most in your gift basket?  Perfumes  Creams  Cookies and cupcakes  Baby shower products  Flowers

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