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I n t r o d u c ti o n t o B u s i n e s s

BUSINESS PLAN
Independent University, Bangladesh

2 Name of Our Business Plan: Crafty

E-commerce business

2 Arafat Talukder
2030956
Redwan Hossain Abid
2121205
Shihab Sumon
2021857
 OUR MISSION & VISION

Mission Vision
 Our main mission is to highlight  To be the most admired online
traditional products of our country platform where anyone can purchase
to the world through an online traditional products from Bangladesh,
platform. Also, fulfill our customer’s like Traditional Bengali Weave Sarees,
daily needs and ensure them to give Woodwork and Wooden Carvings,
the best quality full products. Nakshi Kantha, etc.

 By that, we can give our local sellers  Another vision is to modernize the
the amount of money they deserve, traditional heritage of Bangladesh
and perhaps we can change some through online platforms, innovation,
people’s life. and research while offering the best
quality, safe, and reliable products.
LEGAL FORM OF OWNERSHIP Get a modern PowerPoint
Presentation that is
‘Crafty’ will operate as a partnership with three partners in the business. beautifully designed.
Each partner will bring a unique set of skills and expertise to the business,
and with a combined effort, we can make our business reach the pinnacle of
success. All three partners in the business will share profits and liabilities
equally and will be actively involved in the decision-making process.
Moreover, each partner will provide funding for the business as well, which
means we will have more start-up capital and a greater potential for growth.
Strength Weakness
 Traditional heritage product  Dependence on retailers.

S W
 Unique product consent  High investment.
 Economic of scale  Lack of experience.
 The employees are very qualified  Limited business diversification.

Threat
 Tough competitive rivalry.
T O Opportunity
 International and National market segment
 Product imitation. opportunities.
 Bad publicity from social networking.  Expansion opportunities .
 Political clash  Groeth opportunities.
 Regional development.
 Job Description of owners/partners/ important
designation holders

CEO
A chief executive officer (CEO) is the highest-ranking executive in a
company, whose primary responsibilities include making major corporate
decisions, managing the overall operations and resources of a company,
acting as the main point of communication between the board of
directors (the board) and corporate operations and being the public face
of the company. A CEO is elected by the board and its shareholders.
 Vice president of Marketing & Human
Resources

Vice president
VP of marketing take charge of a company's marketing
team. They handle strategic brand management, review
budgets, set goals, conduct market research, and help
maintain an appropriate image of the company. The Vice
President is responsible for setting, enforcing, and
evaluating legally compliant human resources policies,
procedures, and best practices, and identifying and
implementing long-range strategic talent management
goals.

Vice president
 Vice president of Finance & Product
Management

Vice president
A VP of finance is responsible for processing the financial
activities of an organization to maximize a company's
profits and plan for its growth. The role includes
analyzing data and advising top executives on ways to use
that information to make strategic decisions about the
organization's future. The vice president of Product
Management functions as senior staff (consigliere) to the
rest of the executive team – making sure that the
company as a whole is building and shipping and
supporting the right products.

Vice president
 EDUCATIONAL AND PROFESSIONAL BACKGROUND

Redwan Hossain Abid Shihab Sumon Arafat Talukder

 Completed MBA from the  Completed MBA from the  Completed MBA from the
Independent University of Independent University of Independent University of
Bangladesh. Bangladesh. Bangladesh.

 1-year business experience  1-year job experience in the  Specialized in communicating

at Marketing Genius and Co- Management department of with consumers.
founder in Business club. Evaly.
 Experienced in Digital
 Specialized in Industry  Specialized in speaking a Marketing.
Analysis. different kind of language.
 1-year work experience at the
 1-year internship at Daraz. sales department in Realme
 Founder of Marketing Genius.
outlet.
Product/Service  Clay Pottery fired to give Terracotta color embellished with acrylic
Description paint (Dinnerware, Bowls, Kitchen cookware, Drinking Vessels, Lidded
Vessels, Plates and Trays, Pouring Vessels, Home Decor pieces)

 Cane and Bamboo handicrafts (Bags, Carpets, Curtains, Shoes, Baskets,

The ‘Crafty’ private limited will
Kitchen Utensils, Table mat, Photo frame, Pen stand, Hand Fans, Picnic
carry a variety of products
that will help our organization Baskets, Lamp Shades, Wall Hangers, Trays)
to earn profits, to grow, and to
establish itself as a successful
 Traditional Bengali Handloom Saree (Tant, Jamdani, Katan)
business. We aim to ensure
that our products are of top-
notch quality and can be
easily accessible to everyone’s
needs.  Nakshi Kantha (Quilt, Saree, Kurti, Tablecloth, Decorative Wall Hangings)

 Wood Carving (Home Decor pieces)

Service Description
Besides products, one of the most important parts of our business is service. How we are going to deliver
our products to the customers and what added benefits they may get play a significant role in our
business.
We have developed an online based application named ‘Crafty’ through which we will deliver our
products nationwide. The application can be found both in the Play store and on iTunes. Also, orders can
be taken through social media platforms such as Facebook and Instagram and our website. We have a
customer care hotline number.
 Any complaints or queries will be answered. These are some of
the features in the app.

FEATURES NO 1

A menu setting which will give customers

easy access to all the different sections of
our products.
APP FEATURES NO 2
FEATURES A quick "Add to Cart’ option which will
make it easier for customers to buy more
than one product with just a click rather
than going back and forth to the product
and the "Checkout"

FEATURES NO 3
Customers can choose to pay through Cash on
Delivery/Visa, Debit, or Master Card/bKash.
 Clay Pottery

 Health benefits such as circulating

 It can’t be attacked by agents
steam that results in cooking with less
that corrode metals or organic
oil and fat, a natural detoxification
materials such as oxygen,
medium, and retaining temperature
water, etc.
which keeps the food warm for a
longer time without
Cane and Bamboo Handicrafts

 Flexibility, Maintenance, Eco-

 Its low cost makes it a primary friendly, thermal Insulation and
material in everyday use both for Attractive appearance are some of
aesthetics and daily use. the features.

Wood Carving

 Due to its fibrous strength, it can  Hardwood possesses greater

be carved more precisely and luster and endurance, while
thinly. softwood can be easily damaged.
 Traditional Bengali Handloom Saree

 It provides excellent ventilation as it

 One of the finest varieties of muslin is made of cotton and is (Tant).
cloth, which makes it very light and airy.
The motif designs are also exquisite as
 Easily customizable, affordable and
the weaver creates them directly on the
comfortable, top-notch saree with 20
loom through discontinuous weft
different breeds of fabric (Katan).
(Jamdani).

Nakshi Kantha

 A type of folk art reflecting the lives,

aspirations, and culture of village  Versatile and used for various purposes
women where colorful patterns and
designs are embroidered with a
running stitch called the ‘Kantha
Stitch’.
 Industrial 01 02
Analysis I CAL
EC
ON
IT OM
L IC
PO
The ‘Crafty’ private limited has

ENVIRONMENTAL
gone through a lot of industrial

SOCIAL
analysis. Firstly, we would like to Industrial
start with our pestle analysis. 06 Analysis 03

L
A
IC
LE

G
LO
G
A

O
L

N
H
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E
05 04

T
Positioning

With the help of the segmentation, we now have a clear idea about Get a modern PowerPoint
the targeted customers of Crafty’s. Presentation that is
beautifully designed.
Crafty's consumers are divided into middle and upper socioeconomic classes,
as well as all age groups and personalities. Crafty's Business Differentiation
sets itself apart from the competition in order to have superior consumer
service.

We are attempting to fit into the market with our superior customer value, massive
discounts, and promotions because Bangladesh has a large e-commerce industry.
 Market Analysis Segmentation

Geographical Segmentation Demographics

Geographic segmentation is the process Demographic segmentation divides the

of dividing a market into different market into groups based on age, life
geographical units, such as countries, stage, income, education, and religion.
territories, states, counties, towns, and Age is the most important factor in
even neighborhoods. Bangladesh's main consumer segmentation. Based on the
capital and commercial hub is Dhaka. It results of our poll. We've discovered that
represents an opportunity for us to people between the ages of 25 and 55
bring our goods and services to a new enjoy our products and services.
market. Because of this, we used
geographic segmentation.
Psychographic Target market Key competitors

Psychographic segmentation Following market segmentation, we Since our company is new to

separates customers into groups identified the market segments Bangladesh and we have come up
based on their socioeconomic where we have the most potential. with a totally new business plan, we
status, lifestyles, or personality As a result, we had to assess each don’t have any competitors yet. But
traits. segment based on its scale, there are some companies who are
development, structural operating these types of businesses
attractiveness, and available through small physical outlets.
resources.
If they ever decide to run their
After evaluating, we select our business both physically and online,
market targeting strategy. it could be a slight risk for our
company.
MARKETING PLAN
Pricing strategy

There are three types of pricing strategies, and those are

 Cost-based pricing
 Demand-based pricing
 Competition-based pricing

Since we are focusing on hand-made products. There are several companies who also have the same products. Our
biggest competitor will be Aarong. That is the reason we will be choosing a competition-based pricing strategy.

Distribution strategy
Crafting will be an intermediary that brings buyers and sellers together. Because we are buying handicraft products
from sellers who don’t have enough opportunities to sell their creative artistic products.

MARKETING PLAN
 Promotional strategy
There is a promotion mix we must follow. Most companies’ success depends on their promotional
strategy. The traditional promotional tools are:

Advertising & Personal Selling

Today, the best way to attract consumers is via social media. We will
run ads on Facebook, Instagram, and YouTube. We will create a
campaign in some universities to reach our consumers.

Public Relations
We will evaluate our consumers' demands and research what they
want from us. By giving them what they want, we will prove that we
care about them and that we understand them.

Publicity
By giving free gifts to the known faces of our country, will help with
the publicity of our products.
 Operational plan of our Crafting
Since we are an online-based market, there will be no factory, machinery, or raw
materials of our own. There is a chart showing our operational management:

Managing Directors
.

Human Resource Dept.

Finance Department

Marketing Department

Logistic and
Maintenance Dept.
 Required money to start the business is Tk.65, 00,000
Source of funding - initially we 6 members invest Tk.42, 00,000 We each member
Financial have invested Tk.7, 00,000 from our savings. Bank loan is Tk.23, 00,000.
Business MONEY USES PLAN

Capital Investment: Expenses:

 Computers – 5,00,000  Office Rent-5,00,000
 App Development – 5,00,000
 Warehouse Rent- 7,80,000
 Total: 10, 00,000
 Transportation cost 1,00,000
 Utility cost 3,00,000
 Staff Salary-12,00,000
 Stationeries-20,000
 Marketing promotion cost-$5,00,000
 Depreciation-1,00,000
 Total: 35, 00,000
MONEY USES PLAN
 Income Statement for 1 Year

 
DETAILS AMOUNT (Tk) TOTAL AMOUNT (Tk)

 
Sales 48,00,000  
 
Website 7,00,000 60,00,000

App store 5,00,000

Cost of goods sold 20,00,000 20,00,000

 
Gross Profit 40,00,000
 
Total Expenses 35,00,000
 
Loan payment 1,80,000
 
Net Profit/Loss 3,20,000

Income Statement
  Recommendations

The importance of labour law is very much in Bangladesh's perspective. So, we cannot think of an
industry without labour. Labour right is most essential in Bangladesh. But the labours are aware of
their right. They don’t know properly about labour education. It is a great problem. For this reason,
they are retrenched by the employee as the employers wish. Very often, they are retrenched without
any legal process. This is injustice in humans. This should be protected for the interest of
industrialization in Bangladesh. Proper and strict provisions should be included in Labour laws and
state laws. The labours should not be deprived. Their rights should be protected. Illegal retrenchment
by the employer is inhuman and increased the suffering of the labours. In this respect, the following
action should be taken:

1. The cause of retrenchment should genuine and proper in the eye of law.

2. Proper notice for three months should be given to the respective labour for his self-defence.

3. If not the labour should be paid three months’ salary and other benefits allowable as per law.
LOVE FROM PRESENTATION POINT