Assestment evidence a) a)THE BUSINESS NAME: Sonali|Konchi® The house of jute made goodies My plan is to trade jute made products, like sofa set,garments,toys,jewelleries,and so on. Sonali means golden in Bangla, as jute(paat) is known to be the world’s golden fiber[? ], and is completely bio-degradable and environment-friendly crop, and is the National crop of Bangladesh as she grows the world’s highest amount of jute, it is a rapid growing bio-mass and photo-reactive crop which grows within just 120 days of harvesting period[? ]. And konchi traditionally means jute stick.
So I chose this name to attract my desired targeted consumers, then successfully and progressively accomplish my aims and objectives Copyright evidence: No existing named business nor logo available in the world. [pic] Proofed by google. com b)BUSINESS AIMS AND OBJECTIVES: *Aim of Sonali|Konchi® is to become Country’s highest grossing and highest profit making ,jute made products company,and its goal is to provide the rarest, best ,uncommon and has the aim to break the break-even point within a shortest period of time,and is going to have the highest number of branches all over Bangladesh and in the world in future.
Other competitors of the business has no accreditations nor certifications of BSTI (Bangladesh standard testing institute),nor ISO(International Standard Organization) ,whereas my company has both of them,Also gives 3 months guarantee+warranty with applied conditions. My company advertised almost in all Newspapers and distributed leaflets Bangladesh, Also gave an advert in facebook. com even banglapedia. com. [pic] Bundles of jute, showing the fibres of Corchorus olitorius (tossa jute fibre) and Corchorus capsularis (white jute fibre)[? ]
My company will make lesser profit on household jute products such as jute made ropes,shopping bags,papers,etc. to attract customers,as example other competitors buys stock of products from wholesalers pricing 500 BDT (Bangladeshi Takas) and sells for 750 BDT (thence 250BDT profit means 50%), But my plan is to make 30% profit therefore for lesser price I can capture the customers of my other competitors. Moreover I can expand the level of my sales and increase the number of my customers. Then obviously my ambitious business will proceed progressively.
THE QUALITY OF MY PRODUCTS- will be tested by JDPC (JUTE Diversification and Promotion centre, Bangladesh. Also JDPC will provide me raw materials in fewer prices as I will provide them 40% of raw materials which I cultivated on my grandfather’s land in Nilphamari,Rangpur, Bangladesh. To diversify and reprocess and convert the raw material into finished products. Such as: bags,belts,rugs,mats,curtains,sweaters,handicrafts,etc. [pic][pic][pic][pic] Few display of my rare products which I’m going to provide.
Survival of my business; will exist forever as in my country I am going to provide few products which will be only available in my company,such as organic fertilizers, flood rags,etc. Which I found out by surveying the internet that few products are not at all available in Bangladesh but I can produce it within my capability to run my business,also I will raise charity from my business to the poors, Whoever buys any product from my shop 2-4 BDT will go to the Children’s Education Fund (UNICEF), And for the women suffering breast cancer, and people suffering from HIV/AIDS. pic] Jute is one of the most affordable natural fibres and is second only to cotton in amount produced and variety of uses. Jute fibres are composed primarily of the plant materials cellulose (major component of plant fibre) and lignin (major components of wood fibre). It is thus a ligno-cellulosic fibre that is partially a textile fibre and partially wood. It falls into the bast fibre category (fibre collected from bast or skin of the plant) along with kenaf, industrial hemp, flax (linen), ramie, etc.
The industrial term for jute fibre is raw jute. The fibres are off-white to brown, and 1–4 metres (3–12 feet) long. Jute fibre is often called hessian; jute fabrics are also called hessian cloth and jute sacks are called gunny bags in some European countries. The fabric made from jute is popularly known as burlap in North America. 1 [pic] Jute matting being used to prevent flood erosion while natural vegetation becomes established. For this purpose, a natural and biodegradable fibre is essential.
Jute is a rain-fed crop with little need for fertilizer or pesticides. The production is concentrated in Bangladesh and some in India, mainly Bengal. The jute fibre comes from the stem and ribbon (outer skin) of the jute plant. The fibres are first extracted by retting. The retting process consists of bundling jute stems together and immersing them in low, running water. There are two types of retting: stem and ribbon. After the retting process, stripping begins. Women and children usually do this job.
In the stripping process, non-fibrous matter is scraped off, then the workers dig in and grab the fibres from within the jute stem. India, Pakistan, China are the large buyers of local jute while Britain, Spain, Ivory Coast, Germany and Brazil also import raw jute from Bangladesh. And now finally I hope that I can successfully cope up with my aims and objectives and establish my business according to my targets towards my targeted customers and stock buyers within a short period of time. c) SOURCES OF BUSINESS IDEAS: [pic]
An internet research of google® showing the survival of jute business in Bangladesh. The business ideas were given by my neighborhood wood selling furniture shops, they advised me ;jute goods business is only profitable and survivable in the market if you have a wide range of rare,uncommon and quality goods as jute made products goods sales in really extravagant and huge number of competitors in Bangladesh,thence to start up something new I have to do something exceptional and newer for the wants, needs and requirements of the customers ,then only you can exist in this industry.
I also took some references of my friends as the uses diversified jute made bags,caps,pencil boxes,water resist sandals,fashionable bracelets,etc. I questioned them; How do you people like it? , they answered these products are really fashionable and long lasting. Bangladesh Jute Research Institute (BJRI); said 10,000,000 BDT is enough to invest for starting a jute business including factory with workers, to construct and setup a factory including few workers will just cost 250000 BDT, BJRI will also provide me cheap labors who are skillful and experienced but are unemployed.
And begging for job so they will be helpful for me. Banks; few banks specially BANGLADESH KRISHI BANK® PLC. Really appreciates my business as I am going to do something new with limited investment in the economy of Bangladesh and is impressed to provide me loan if I can show them an evidence that I can repay/return the credited amount to them within a given period of time with no interest, if I do not exceed the given period of time but interest will be taken as fines if I cannot repay the debt within the time.
And Government of The People’s Republic of Bangladesh will take 5% VAT (Value Added Tax) including interests but will stop if I can repay within the extended time. d) STAKEHOLDERS: My stakeholders are as follows: Wood Businessmen- as some of their customers will now buy and enjoy jute products, instead of wood carpentered goods, as it’s more decorative. Thus they will start losses in their business. Plastic furniture businessmen- few amount of their customers will also now start buying biodegradable jute furniture, instead of buying environment killer PVC products.
Cane furniture businessmen- will even face loss as canes are indeed bio-degradable but not long lasting and is not heavy duty,like jute, so they may face loss if the number of customers starts buying jute products. Polythene Businessmen- as I am going to produce jute made environment friendly shopping bags,garbage bags. Therefore eco-friendly people will stop buying PVC Bags. e) LEGAL FORM OF THE BUSINESS: I chose sole-trader as a legal form to continue and run my business,As I am starting my business with my own capital and labour,within few assisted mployees, and earn my profit as reward, Though my business is not confined as retail trade,although it is a wide spread there. And my role and advantages in my own business are as follows: • I the owner is the self decision maker to make independent decisions. • I will have personal contact with the customers and employees. But also have the disadvantage of: *No limited liability,but unlimited liability. *Legally I will have no distinction between me the owner and the business.
But have got to maintain the business in such a way so that I have more advantages than disadvantages. And can control the disadvantages progressively|. f) BUSINESS MARKET OF MY PRODUCTS AND SERVICES: * The amount of my potential customers starts from 10-1200000. My target is to capture the maximium amount of them within few years. * I have thousands of competitors in my country providing the same product and service, but none has any accreditations nor certifications of ISO neither BSTI, not even BJRI tested their quality and service. Which I said at the very beginning. Even though my competitors have same products, but my products has got 3 months guarantee and 3 month warranty,so my customers are ensured there are no faults in my products, But products such as jute ropes,sanlals are a bit expensive than my other competitors as those are wax and cocoon coated so they are water resist,so customer will buy with affordable price according to quality and standard, Even my company will have an online store from where people will buy all over the world, in huge stock and can sell it retail trade in their country,so my brand name Sonali|Konchi® will spread globally. There is a great estimated demand for my product as just by opening a local business group on facebook. com® and myspace. com® I got almost more than 1500+ group members,during market research. G) MARKETING STRATEGY: LEAFLET: [pic] My leaflets are distributed in- Mosques,Churches,schools,Non Government Organisations, for brand popularity. And whoever enters my shop with the leaflet will receive 15% Cash Discount. Also I advertised my company in the Newspapers, and any customer who brings the newspaper cutting will receive 15% Cash Discount.
Or else any customer who will buy products worth 2000BDT will receive a free 200 BDT worth product for free. | Help was taken from the book ‘SUCCESS IN COMMERCE’ 4TH EDITION by Derek Lobley. STRUCTURE FOR BUSINESS PLAN Assestment evidence b) a) FINANCIAL RESOURCES: My father gifted me a flat house in an apartment at Rampura,Dhaka,Bangladesh which worths 30,000,000 BDT. So I will show this to Bangladesh Krishi Bank® PLC. , as an evidence/mortgage that I can return/repay the money and take 10,00000BDT as loan for my business. ) HUMAN RESOURCES: In my business organization I will recruit additional staffs to control and operate my business,as it is not possible for me alone to run the business. • So I will advertise by posters near Intermediate (A Levels) Colleges, for job vacancy, as my additional staffs must have minimum Metric (O levels) qualification in Science/ Commerce or Economics, And also must have skills in MS® office, Quicken™ 1 accounting software. So hope I get few students for interview in my company for job salary 4000-5000 BDT. Also JDPC will provide me 5 workers salary 3500-4500 BDT ,to run my jute production machineries they all has skills in running Jute Mill machines and has qualifications from Dhaka Technical Education Board.
• My factory mill workers will work for 3 pm- 8 pm (Part-time), and my recruited 3 workers in my showroom will work for (full-time). TYPES OF TRAINING- I am going to provide my workers are price tagging,cleaning,storing,dealing with the clients. So I will be ensured that even in my absence my business will run properly. Job responsibility of my mployees are as follows: * Refill the empty displays, keep the showroom clean, And my factory workers should produce the required amount of product at a given time. My future plan of recruiting additional staff- will only be decided if I plan to expand my business from one or more branches. But if my single branch runs successfully then I will only plan to increase more branches at other good economic places of Bangladesh like Chittagong, Sylhet, etc. [pic]jute mills in Bangladesh. c)Other physical resources required by my business: Resource |Cost of acquiring in BDT | Computer 20,000 Furniture 30,000 Fittings 10,000 Machineries 150,000 Stationeries 5,000 Raw Material 15,000 Total 230,000 d) Quality Control: From the very beginning from Assessment Evidence a).
I mentioned my quality control is certified by ISO, BSTI , JDPC. Therefore my quality is guaranteed e) Determination of business structure: And after completion I think my business will run properly and will be profitable in 6-8 months of continuation.  Banglapedia. -Chapter|Jute. http://www. banglapedia. com  Jute Diversification Promotion Center,Dhaka,Bangladesh. http://www. jdpcbd. com 1http://www. wikipedia. com 1 http://www. encyclopedia. com 1. http://www. quicken. com STRUCTURE FOR BUSINESS PLAN Assestment evidence b) a) Startup Costs: Expenditure Costs in BDT Shop hiring |75000 | |Premises |15000 | |Purchase of Furniture |30000 | |Office equipment |60000 | |Stock |100,000 | |total |280,000 | Running costs: |Jan |Feb |Mar |Apr |May | |Sales |5000 |7000 |4000 |6000 |3000 | |Expense |2000 |4000 |2500 |1800 |1000 | |total |7000 |11000 |6500 |7800 |4000 | b) Budgets: | |Jan |Feb |Mar |Apr |May |Jun |Jul | |Operating cost |3000 |4000 |2000 |6000 |8000 |7500 |6450 | |Rent |10000 |10000 |10000 |10000 |10000 |10000 |10000 | |Utility bills |2500 |1800 |3400 |2200 1950 |1600 |1700 | |Wages |7500 |7500 |7500 |7500 |7500 |7500 |7500 | |Raw materials |5000 |5500 |4900 |5800 |6750 |5950 |4400 | |Machinery running cost |1700 |1800 |1675 |1980 |1850 |1920 |1786 | |Premises |25000 |18000 |19000 |12500 |16200 |17300 |15800 | |Total |54700 |48600 |48475 |45980 |52250 |51770 |47636 | b) Profit and loss account: Details |BDT |BDT | |sales | |800,000 | |- return in | |(20,000) | | | |780,000 | |- cost of goods sold | | | |Opening stock |590,000 | | |+Prod.
Of finished goods |100,000 | | | | |(690,000) | |Gross profit | |90,000 | |+other income | | | |Interest receive |5000 | | |Commission receive |7500 | | |Profit on disposal |15000 | | | | |27500 | |- expense | |(2000) | |Net profit | |25500 | c) Balance sheet: Details |Assets |Cost |NBV | |Fix assets | | | | |+ current assets | | | | |- current liability | | | | |Financed by: | | | | |Capital | | | | |+ additional capital | | | | |+ net profit | | | | |- drawings | | | | |+ long term liability | | | | |Loan | | | | |CAPITAL EMPLOYED | | | |
STRUCTURE FOR BUSINESS PLAN Assestment evidence d) a)Use of ICT in my business: Computer- is helpful to use softwares, create documents, spreadsheets and connect to the world wide web. Internet- the best system to communicate globally. Telephone- helps to communicate,vocally to buyers and customers,all over home and abroad. Fax machine- is used to transfer hard copied documents fax to fax through fax machines. b) Costs related to ICT tools: Processor Intel Core2duo-3500BDT Mother Board- 4000BDT RAM 1GB-2500BDT Monitor-16 inch- 7000BDT Mouse-200BDT Key board-200BDT DVD Writer+player-2000BDT H. er Board- 4000BDT RAM 1GB-2500BDT Monitor-16’’inch- 7000BDT Mouse-200BDT
Key board-200BDT DVD Writer+player-2000BDT H. D. D-2800 Total-22200 BDT c)Use of different softwares in my business: In my business I am going to use softwares of Microsoft™ which cost me around 20$,like: [pic] Microsoft Excel, will help me to create spreadsheets,balance sheets and will help to record save my business documents. [pic] Microsoft word helps to create documents,and keep records. [pic] Microsoft powerpoint helps to create slide show, so thereby I can create presentations of my products and show it to my customers. [pic]Mozilla Firefox will help me to survey and browse through the internet. Also I will use TALLY from http://www. tally. com