I will fund the project with loans and also any other personal money which i have.
Earning projection:
1 year - -£10000
2 years - £0
3 years - £20000
4 years - £100000
5 years - £300000 (potential for 500k)
Market Analysis
For my market research I'm going to go around different shops to look at already existing products such as mine and will ask questions about how they are made and the cost.
My target audience will be adults mostly but could be bought for children. It can appeal to both males and females and generally any family which own a car or just want a comfortable and supportive cushion.
I will be facing National competition but there are no major brand leaders so there are a lot of opportunities for development and expansion. The latest trends have been Heated cushions.
Product
I'm offering an extra soft but also supportive cushion for car users with lots of different materials and colours and a few models will also have internal heating systems which will keep you warm on cold days.
Quality and price are both reasonable and small extra profits when accessories are bought together with the cushion. Other shops which want my product in their shops can order them over the internet in wholesale or can come to the head quarter to discuss.
My product is high quality so it will cost a fair amount but very reasonable.
Market Strategy
I'm going to market my product on the radio and in newspapers and if it goes well make a few adverts for TV although it is very very expensive.
This is my Logo and potential Slogan:
Safety and Comfort is all that matters.
On start up i will offer a 10% discount on all accessories for the first few months to attract customers. I will sell my product through the internet and i will have a few business men travelling to different companies to attempt to sell my products in whole sale to different warehouses. If someone orders something i will deliver it to their shop by either lorry or van depending on how big the order is.
If customers need help or advice about the product there will be a support line where customers can contact us.
Management Plan
I will employ a number of staff who answer the support line phone and van and lorry drivers to distribute my product to the shops and also the business men who travel around attempting to sell my product. This will add up to about 100 but will be increased if needed. The main people in the business will be the business people who persuade shops to buy my product to sell in their shops. I'm planning on working at least 10 hours a day until i have established a stable business.
Premises, Equipment and Vehicles
i will only be using a few main buildings where the business is run from which is divided into different sections where different things are organised and run from. Such as where the phones are answered and where the lorry's and van's are loaded from and the part where the managers run it all from. Not much equipment is needed since all my products are shipped in from different parts of the world and then directly distributed to customers.
I will be needing a number of lorry's and van's which transport my goods to the customers.
Financial Data
I am predicting that i will have around 10 – 20 large orders per day which would generate a good profit margin compared to the cost of delivery and price of materials.
Each order would be a minimum of £500-£2000.
My running costs would be around 300thousand per year and earnings from all sales would be around 250-500thousand per year which would mean a big profit margin.
I would say that i would earn at least 100thousand pounds profit but more as the business grows.
