BambooS Company Business plan (Essay Sample)

BambooS Company Business Plan Name Institutional Affiliation Course Date Executive summary Ten students from the University of Putra Malaysia's (UPM) Basic Entrepreneurship (MGM 3180) class formed the company BambooS Sdn. Bhd. BambooS is the name of our company because it deals with bamboo-based items. Straw is represented by the company's name, which has a capital S. One of its members came up with the idea of selling environmentally friendly and reusable straws. As a result, the students decided to use bamboo as the major element in the products. BambooS is currently generating bamboo straws because it needs to provide its customers with the best quality straws at a reasonable price. Because it's made from bamboo, the product decomposes naturally. It is also easy to wash and carry, so the company guarantee customers will be able to use its signature several times before it becomes unusable. Customers can choose the straw size that best suits their needs. In addition, the company takes pride in the quality of our product's packaging and the quality of our product itself. The company uses eco-friendly and environmentally friendly packaging. University Putra Malaysia students are the primary customers of BambooS. RM 1000 is the sum of RM 100 contributions from each ten members, so each member would then contribute RM 100. Products are packaged and stored at the company's warehouse in the Serdang area. The straw is being produced in accordance with the specifications provided by the customer. In terms of advertising and promotion, BambooS uses social media platforms like WhatsApp, Instagram, and Facebook and e-commerce platforms like Shopee. In order to gauge the success of the company, we use the lean canvas business model. Background of the company Table 1: Business introduction PRODUCT PRICE Straw RM10-RM18 RM 10 for Set 1 * Pouch * Coconut fibre cleaning brush * Regular size straw RM 12 for Set 2 * Pouch * Coconut fibre cleaning brush * Boba size straw RM 18 for Set 3 * Pouch * Engraving * Coconut fibre cleaning brush * Regular size straw RM 20 for Set 3 * Pouch * Engraving * Coconut fibre cleaning brush * Boba size straw Table 2: Company description/overview Logo of the company Name of the company BambooS Sdn. Bhd. Owner's name KOBIBZZAMAN MM Business type Partnership Establishment date 26th March 2022 Address of the company C-2-23A, Seri Kembangan, Selangor Capital start-up RM1000 Item Bamboo straw Major operations Producing products, advertising and selling products, as well as providing delivery services Staff numbers Ten persons Vision statement Promote the use of a bamboo straw as an alternative to a single-use plastic straw to help UPM become more environmentally friendly. Promote the use of a bamboo straw as an alternative to a single-use plastic straw to help UPM become more ecologically friendly. Mission statement BambooS's goal is to delight its consumers with environmentally friendly products. Customizable and reasonably priced bamboo straws encourage people to use reusable straws whenever and wherever possible to reduce the amount of plastic waste in our oceans. Success Keys Product – the products are very eco-friendly, affordable, and reusable. Location – the company distributes products around Malaysia. Customer service – the managers effectively assist clients in customizing and considering their preferences when choosing the best straw size. Reputation – the company keeps close contact with the client to gather all the responses on its service or product to advance its operations and reach the client's satisfaction. Strategy and implementation The personal tastes of corporate management do not impact good business tactics, and business strategy is critical for BambooS's continued success. The company's strategy underlines the role of each department in order to ensure that all plans go as planned in order to fulfil the desired goal that must be achieved in our business plan. Each department's effectiveness has been given equal consideration. BambooS has devised several ways to reach its goals. Every department's input has been taken into consideration when developing these plans. a. Human Resources and Administration * According to the procedure, the admin and HR department supervises all business operations as well as co-workers and administrative issues that arise. * It also solves and addresses long-term issues in human resources management. b. Department of Marketing * This department is responsible for the marketing and promotion of the product in order to reach a wide audience of potential customers. * Through social media, an organization's business and mission can be promoted as well. c. Operational Division * It is the responsibility of the operational department to make certain that all of the necessary equipment and materials are in good working condition and that the company's products remain efficient and of high quality. * In this division, profit and loss are held to the highest standards, and shareholders' interests are at the forefront of all decisions made in this division. Market analysis People are becoming more aware and concerned about the environment, which has led to a spike in demand for bamboo straws. The government's limitations have also reduced the use of plastic straws. As a result of its excellent features, the bamboo straws market is anticipated to grow rapidly in the near future. Based on that, the straws made by BambooS Sdn. Bhd. are unique in that they are produced in-house by the company, ensuring their safety and hygiene and allowing customers to engrave their names on the straw. In contemporary living, consumers need acknowledgment for something they support or buy, and they also deserve to flex and be excited about 'Save the Earth'. Table 3: Swot Analysis Opportunities Threats Strengths Weakness Bamboo straw can be used for a long time and is sturdier Since bamboo straw is made from a natural material that is not modified, it can break Bamboo straw is portable and reusable It can only be produced from one material Bamboo straws can be personalized It may face stiff competition from silicone straws and metal straw Bamboo straw is eco-friendly Not much violation Target Market Consumer market * Restaurants and Cafes at UPM * Staff and students at UPM Segmentation Usage- individuals use straws for drinking frappe, juice, tea, and Boba. Size – small size straws are used for fully liquid and ordinary beverages, while large ones are suitable for drinks with toppings and Boba drinks. Industry – cooperative, convenience store, stationery store, food stall, canteen, food court, café, and restaurant around UPM. Positioning * There is zero pollution from the company's product, manufacturing, processing, and packaging. * Modern marketing approaches to eco-friendly items in the business. 4P's Marketing Approaches * Product approach – BambooS company ensures its product is unique in the business and outstanding the competitor's products. It also maintains the safety and quality of its items for the contentment of its clients. To attain these features, the company products are packaged neatly with natural storage bags and jute bags designed to assist people in reasoning sensibly and promoting their reusable and eco-friendly bamboo straws daily. Moreover, the organization offers customization services, including engraving and resizing the bamboo straws to appeal to more clients. Therefore, a straw can be engraved and sized based on customer preferences. The bamboo straw is customized in two sizes: the small size for fully liquid and standard drinks and the large size that fits topped drinks and Boba drinks. BambooS receive personalized texts from clients for engraving. * Price marketing strategy – price is defined as the quantity of compensation or payment offered by one individual to another in exchange for a product (Singh, 2012). This approach is crucial since it governs the organization's survival and profit. The pricing approach is influenced by internal factors such as cost of marketing management and external factors such as competitors. The products are sold in sets, as indicated in table 1. * Place marketing strategy is termed a distribution approach where the company chooses the suitable mode of transportation for its items (Singh, 2012). The company's main target is students and staff, where products are distributed in surrounding restaurants, markets and cafes with UPM. Also, it uses Shopee apps to makes its items accessible to customers. * Promotion marketing strategy – promotion is the communication of a business person or marketer to offer data and information to diverse individuals about a particular item being sold (Singh, 2012). It is meant to persuade and convince clients using a communication process. BambooS uses social media marketing, internet networking and digital marketing to attain greater market share by getting the attention of clients. Social medial platforms include BlogSpot, Shopee, Facebook, and Instagram. The company is taking advantage of online marketing that is currently trending, thus, maximizing sales. Operation planning * The obje...