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Business plan on Mushroom chips

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Business plan on mushroom chips

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Business plan on Mushroom chips

  1. 1. 1 | P a g e UNITED INTERNATIONAL UNIVERSITY Entrepreneurship and business plan development (MGT 3229) Assignment: BUSINESS PLAN DEVELOPMENT Submitted To: Mohammad Tohidul Islam Miya School of Business, United International University Submitted By: Md.Shahaid Jurain Alam ID: 111 121 645 Date of submission: 03-01-2015
  2. 2. 2 | P a g e Report On Developing New Business Of Mushroom Chips
  3. 3. 3 | P a g e Letter of Transmittal 3rd January, 2015 Mohammad Tohidul Islam Miya Lecturer School of Business United International University Subject: Letter of transmittal for term paper. Sir, With due honor, I wish to inform you that it was a matter of great pleasure as well as learning to prepare term paper on “Developing New Business of Mushroom Chips” under the course of Entrepreneurship and Business Plan Development .To prepare the paper, I collected and studied materials in due time and analyzed these and eventually finalize the term paper. Actually I have enjoyed more in preparing this term paper and develop new business. I have worked hard to prepare this report. So I would highly oblige if the content of the report have been acceptable to you. Though I have put my best efforts yet it is very likely that the report may have some mistakes and omissions that are unintentional. So, I hope that the report will worthy of your consideration. Truly yours, ……………………… Md. Shahaid Jurain Alam ID: 111 121 645
  4. 4. 4 | P a g e ACKNOWLEDGEMENT At the very beginning I would like to express my deepest gratitude to Almighty Allah for giving me the strength and the composure to finish the task within the schedule time. Then I am very grateful to all the general people who have provided the opportunity to complete my report and help to develop new business plan. They give us long patient hearing and sitting, practical orientation and answering my numerous queries nicely. This supplied the most valuable working experience and information for which they deserve appreciation. My sincere gratitude goes to my honorable teacher Mohammad Tohidul Islam Miya, Instructor of Entrepreneurship and new Business Plan Development, in United international University. Without his support and encouragement this report and business plan would not possible such an endeavor to enhance my practical knowledge about the real situation. Thanks all from core of my heart.
  5. 5. 5 | P a g e Executive Summary_______ This Report is prepared for developing new business of “Mushroom Chips”. Mushroom, this name is not new to us. At first, mushrooms were grown wildly and lived on rotten tree stems in a damp forest. But following the high demand of the mushroom, it is now being planted by farmers and used for medicines as well and many kinds of food. The benefits of mushroom have been discovered by Chinese people hundreds of years ago. But recently, a researcher from Minnesota Medical School, America, found that mushroom contained in everyday's meal could help the blood circulation inside your body. It also could protect the health of blood vessels. Mushrooms are brimming with protein, vitamins B and minerals. They're low in calories and may have antibacterial substances to help the body. Mushrooms are the good sources of nutrition and this is our main ingredients. The main ingredients are- White Mushrooms, vegetable oil, white vinegar, red chili powder, potato, sea slot. For the market segmentation, I have decided that at first my main focus will be Dhaka. Because large number of people lives in Dhaka City, it is a very large market and has many customers as well. Later on I will go for other divisions. Every people can consume our chips, but my special focus is on Children's and teenagers because they like chips very much. My major competitors’ are- sun chips, potato crackers, Mr. Twits, meridian chips, cheese ball. Mushrooms are good sources of nutrition and this is my main ingredients.
  6. 6. 6 | P a g e Table of Content Name Page Introduction 7 Business and Industry Profile 8-9 Business strategy 9-11 Company Products and Services 11-13 Marketing Strategy 13-15 Location and Layout 16 Competitors Analysis 16 Financial Analysis 17-23 Appendices 23
  7. 7. 7 | P a g e INTRODUCTION Origin of the Report As I am doing Entrepreneurship and small business plan development and my course instructor Mohammad Tohidul Islam Miya has instructed me to prepare a term paper on Developing New Business Plan (Mushroom Chips). Purpose  To get a clear concept how to make the new product plan  To acquire knowledge how to make mission, vision, marketing mix etc. Limitations  I had to give lot of times to collect information about competitors, market situation because enough information not available.  Time and budget constraints for this kind of research.  Lack of instrumental facilities to get proper information. RESEARCH METHODOLOGY Secondary:  Internet: www.google.com , www.wikipidia .com, Source: thedailystar.net, www.alibaba.com  Other: Collected information from marketing report, magazines, running newspaper.
  8. 8. 8 | P a g e Business Plan : I. Business and Industry Profile A. Industry Analysis 1. Industry Background and Overview Mushroom, this name is not new to us. At first, mushrooms were grown wildly and lived on rotten tree stems in a damp forest. But following the high demand of the mushroom, it is now being planted by farmers and used for medicines as will and many kinds of food. People now-a- days have their own choices and preferences. They are not only seeking for the traditional type of snacks. Tastes, flavor and nutrition matters to them. I am very much concern about product quality and test. My product contains mushroom that is very good for health especially for children. Now-a-days market is very competitive. There are so many company enters the market with chips so my try to introduce innovative products and packaging needed to satisfy ever- changing appetites and tastes. I maintain the highest standard of service to my retail customers through my dedicated sales force.My company produces a new product which name is mushroom chips.My every product is examined by Bangladesh standards and testing institution (B.S.T.I).Always my product tries to keep their goodwill and quality also 2. Significant Trend The policy makers has decide to offer different types of popular cartoon and super hero characters stickers and tutus with per packet of Mushroom chips for Childs and purchase intensive to the wholesale and retail for sell promotion. By organizing Charity concert, Open concert, Sports tournament, Reality shows etc.; Mushroom chips industries would like to build a good relation whit people in near future.
  9. 9. 9 | P a g e 3. Growth Rate The price of the soil meet is affordable in all classes of the society from lower to middle and from middle to higher classes. There for the growth of the market is going up. This is the one reason the other on is the change the teats of chips.My will start an integrated print, radio and media advertisement targeting consumers. This advertisement will show my products differentiation from other competitor. Advertisements also show my products feature to the ultimate customer. My Advertisement manager is responsible for those works. 4. Key Success Factors in the Industry Mushrooms are good sources nutrition and this is my main ingredients. B. Outlook for the future stage of growth 1. Start-up In the very beginning, it is difficult to grab the market. As a startup business I focus on to stay in the market and try innovating more crispy recipes. 2. Growth In the growth stage, my concentration will cover the largest market share in Bangladesh. I will turn my company growth oriented, not profit oriented. 3. Maturity In maturity stage, I want to turn my company in cash cow. I. Business Strategy A. Desiredimage and position in Market Children, teenagers, and young people, those who are my chips consumers, they often seek for delicious taste with nutrition. “Shahed’s Mushroom Chips” contains mushroom that gives taste with good nutrition because it has the highest level of Protein, Fat, Sugar, Cholesterol, Sodium, Carbohydrate & so on. I have decided to build strong customer relationships by providing better quality products and I hope this will help me to create a positive image in customers mind with unique potentialities.
  10. 10. 10 | P a g e B. SWOT Analysis 1. Strength  Without any touch of hand the product is made because of development of technological skills.  There are another strength of the company is distribution channels. My distribution channel is very strong; relation of the supplier and resellers is very strong.  The product quality is more high comparative to the other competitors, because my main ingredients is Mushroom which is totally new flavor and taste and also work against for the cancer.  Because of my good relationship with supplier, reseller and for the good transportation facility my sale will be definitely increases. My value delivery network is in strong position. I having good relationships with my suppliers for a longer period of time. 2. Opportunity  It’s an available product but of the new version of taste and quality create a new change of the customer taste.  For the technological changes and advances it’s easier to give any information and promotional activities to know the product popularity to the people.  If the government changes policies then it will be easy to access the product to the market.  Availability of the raw materials is increasing day by day which is help to produce more products. 3. Weakness  Although the company is new, it has not established a brand or images in the market place this is the weakness for the product popularity.  Because of the new product and company importer skills are absence here that’s why I can’t include any internal facilities.  For the first time the mushroom is exit in the market that’s why people can’t properly reliable to the product quality.
  11. 11. 11 | P a g e  Financial problem is another weakness of the company like what will be the price Cost and investment. 4. Threats  If government is increase the taxes and the political issues are not favor then it will be the threats for the company.  The product may not be accepted to the people then it will be the great threats for the company.  The product competitor rate is very high that’s why sometimes they are facing many competing problem, which can be a threats of the company.  Company establishment rules and regulation is strict that’s why sometimes to take any easy decisions are create complicated situations. C. Competitive strategy 1. Focus It is not possible for me to take cost leadership approach because the chip market is very much competitive. So, I focus on mushroom chips that are very much healthy and people like to take different taste. II. Company Products and Services A. Description 1. Product and service features My product is mainly “Mushroom Chips”, This retains the nutrients and natural flavor giving you a healthier and tastier snack choice. My product is made from the chosen high quality mushroom to assure the benefit it contains for in body. Mushroom chips are a very healthy snack prepared with combination of mushroom & potato.
  12. 12. 12 | P a g e 2. Customer benefits  The benefits of mushroom have been discovered by Chinese people hundreds of years ago. But recently, a researcher from Minnesota Medical School, America, found that mushroom contained in every day’s meal could help the blood circulation inside ymy body.  It also could protect the health of blood vessels. Mushrooms are brimming with protein, vitamins B and minerals. They're low in calories and may have antibacterial substances to help the body.  Mushrooms are rich in disease-fighting photochemical, and eating them regularly has been linked to a lower risk of breast cancer in studies of Chinese and Korean women. Mushrooms also prevent prostate cancer cells from multiplying in mice—and might do the same in men.  Mushrooms are an excellent source of potassium, a mineral that helps lower elevated blood pressure and reduces the risk of stroke. One medium portabella mushroom has even more potassium than a banana or a glass of orange juice. One serving of mushrooms also provides about 20 to 40 percent of the daily value of copper, a mineral that has cardio protective properties. 3. Uniqueness The uniqueness of the product is it is made my mushroom and also here add some flavors. B. Description of production process 1. Ingredients Mushrooms are the good snakes of nutrition and this is my main ingredients. The main ingredients are-  White Mushrooms  Vegetable oil
  13. 13. 13 | P a g e  White vinegar  Red Chili Powder  Potato  Sea salt 2. Costs 3. key suppliers Bangladesh Mushroom Development Company and local farmers are the key suppliers. C. Future product or service offerings.  I will add new flavors in the chips.  Expand the business.  Provide home delivery services III. Marketing Strategy A. Target market 1. Complete geographic profile I have decided that at first my main focus will be Dhaka. Because large number of people lives in Dhaka City, it is a very large market and has many customers as will. Later on my will go for other divisions. Per unit cost fixed cost 500000 variable cost 990000 total cost 1490000 Unit Production 130000 Per unit Cost 11.46154
  14. 14. 14 | P a g e 2. Complete demographic profile. Age segmentation: 5-12, 12-18, 18-24, 24 Social segmentation: higher class and middle class of people. B. Customer’s motivation to buy  User enjoys the food not only for health but as a teats enjoyment.  User also spends money on food for different enjoyment of unique teats. C. Advertising and promotion 1. Media used For the promotion of my products, my will use attractive print ads, leaflets in the newspapers. Free sample of my product will also be provided to the students of school, college, and universities as a promotional campaign. Later on my will think for TVC. D. Pricing My “Mushroom Chips” will be introduced at Tk.14 wholesale and Tk.15 estimated retail price per unit of medium size and Tk.24 wholesale and Tk.25 retail price per unit of
  15. 15. 15 | P a g e family size product. I expect to lower the price of packets within few months. Because of the first time at market the company would like to give some discount to the retailers which will make them some profit. The company is also giving some credit terms facilities to the wholesaler and retailers. 1. Cost structure a. Fixed and variable cost 2. Customer wise Target customers are higher and middle class people.They ready to pay BDT 20 for good and healthy chips. 3. Comparison against competitors price Right now, all the competitors in the market charge average 15-20 taka per chips. E. Distribution strategy 1. Channels of distribution used Factory Warehouse Divisional Warehouse Salesman Retailer Customer.  My factory situated at Tongi in Gazipur. After producing my products it will store in my own warehouse Mirpur.  From this warehouse products are distributed 6 divisions by my own transport and then storing these goods in divisional warehouse.  Then my trained salesman distributes my products in the market to the retailer. Pricing Per unit sales 15 Per unit variable cost 7.615385 Per unit contribution 7.384615
  16. 16. 16 | P a g e IV. Locationand Layout A. Location 1. Demographic analysis of location versus target customer profile As my new to the market, i want to make available my products for my Dhaka city customers through several distribution channels. I will use different wholesalers, retail stores and super shops like- Meena Bazar, Agora, Shopno and so on. V. Competitor Analysis A. Existing competitors Who are they: There are companies have grabbed over 80 percent share of the country's branded-chips market, driving others almost away from the scene. They have a strong competition among themselves. As a result it is very tuff to build a strong competition in market.  Mr. Twist  Potato Chips  Meridian chips 1. Strengths:  There are so popular.  People know them.  They satisfied the customer a lot.  Customers are highly satisfied. 2. Weaknesses:  Serve they customer common item.  Have no variation.
  17. 17. 17 | P a g e VI. FinancialForecast A. FinancialStatement Financial Plan Shahed's mushroom chips Cost of project Item Initial Final Land(3000 square foot)(Advance) 50000 Microwave Mushroom Processing Machine 170000 Brush washing machine for mushroom.(semi automatic,Local) 50000 mushroom dryer machine.(local) 70000 Stainless steel mushroom slicer machine(second hand,local) 100000 automatic electrical mushroom packing machine. 200000 Miscellaneous Assets 100000 Machine tools 30000 Computers(2) 70000 Lights and fans 15000 Fire system 5000 water supply system 10000 Generator 100000 Software 20000 Speed money PDB 20000 WASA 10000 Other sector 10000 Total speed money 40000 License and approval 20000 Tax identification 20000 Patent and trademark 25000 Total cost 1095000
  18. 18. 18 | P a g e Fixed and variable cost Descriptions Fixed cost Initial Final Item Employee salary Guards(2 guards)(1 shift)(9.00am-5.00pm) 10000 Employees (12 employee)( shift)(9.00am-5.00pm) 120000 Total employee salary 130000 Contingency on machinery 25000 Machine operation cost 200000 Space rent 50000 Waste management 15000 Speed money 80000 Total fixed cost 500000 Variable cost Item Initial Final Inventories 550000 Bills Electricity bills 20000 Gas bills 5000 Mobile phone bill 8000 Water bills 15000 Generator oil bill 20000 Total bills 68000 Software maintenance 5000 Transportation cost 20000 Operating cost Workshop cost 17000 Supply chain management 60000 Distribution channel 150000 Total operating cost 227000 Promotional cost 120000 Total variable cost 990000
  19. 19. 19 | P a g e 1.Income Statement Shahed's mushroom chips Forecasted income statement 1st year 2nd year 3rd year Sales 1500000 1600000 1750000 Cost of goods sold 750000 800000 825000 Gross operating income 750000 800000 925000 Selling expense 150000 165000 180000 General & Admin. Expenses 85000 91000 95000 Depreciation 25000 25000 25000 Other expenses 32000 54000 60000 Earnings before interest and taxes 458000 465000 565000 Interest expense 5% 12500 12500 12500 Earnings before taxes 445500 452500 552500 Tax 35% 155925 158375 193375 Net Income 289575 294125 359125
  20. 20. 20 | P a g e 2. Balance Sheet Shahed’s mushroom chips Forecasted balance sheet 1st year 2nd year 3rd year Assets Cash in hand 250000 270000 260000 Account receivable 430000 560000 510000 Inventories 390000 410000 415500 Other current asset 222000 245000 240000 Total current asset 1292000 1485000 1425500 Property, Plant & Equipment 750000 775000 795000 Accumulated depreciation 45000 90000 135000 Other non-current asset 160000 185000 210000 Total asset 2247000 2535000 2565500 Liability & Shareholders' equity Account payable 220000 250000 255000 Short-term debt 60000 65000 75000 Other current liabilities 265000 295500 300000 Total current liabilities 545000 610500 630000 Long-term debt 1100000 1125000 1200000 Loan 250000 300000 320000 Deferred Income taxes 37500 40000 45000 Other non-current liabilities 64500 159500 20500 Total liabilities 1997000 2235000 2215500
  21. 21. 21 | P a g e B. Breakevenanalysis Per unit cost Amount Fixed cost 500000 Variable cost 990000 Total cost 1490000 Unit production 130000 Per unit cost 11.46154 BreakevenAnalysis Sale price per unit 15 Fixed operating cost per period 500000 Variable operating cost per unit 7.615385 Breakevensales in unit 67708.337 Shahed’s Mushroom Chips Cash Flow Statement Cash Flows from Operating Activities: Operating Income (EBIT) $458,000 Depreciation Expense 50000 Increase in Accounts Receivable −80000 Decrease in Prepaid Expenses 8,000 Decrease in Accounts Payable −40000 Net Cash Flow from Operating Activities 396000
  22. 22. 22 | P a g e Cash Flows from Investing Activities: Purchase of Equipment −100,000 Net Cash Flow from Investing Activities 136,000 Cash Flows from Financing Activities: Net Cash Flow from Financing Activities −290,000 Net Change in Cash $115,806 Beginning Cash Balance 319,730 Ending Cash Balance $435,536 VII. Loan or investment proposal Shahed's Mushroom chips Sources of Fund Item Initial Final amount Bank loan 250000 Own fund 600000 Other contribution Family contribution 200000 Friends contribution 45000 Total other contribution 245000 Total sources of fund 1095000
  23. 23. 23 | P a g e Conclusion Mushroom this is not new to us. At first mushroom were grown widely and lived on rotten tree stems in a damp forest. But following the high demand of mushroom it is now being planted by farmers and use for medicines as well and many kinds food. People now-a-days have their own choices and preferences. They are not only seeking for the tradition type of snacks. Tastes, flavor and nutrition matters to them. Appendices:  http://www.recipesource.com/fgv/vegetables/mushrooms/00/rec0053.html  http://www.malaysiabest.net/2006/03/06/snacks-mushroom-chips/  http://ihor5.freeyellow.com/mushchip.html  http://banglapedia.search.com.bd/HT/M_0416.htm  http://www.mushroomlovers.com/Health.htm  www.google.com  www.alibaba.com  www.wikipedia

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