Question

Assignment Description and Instructions:

As a group of prospective entrepreneurs, you are required to prepare a business plan for a new skin care business (not an existing business/company) to acquire financing.

ALL group members are expected to collaborate and contribute to the business plan. Each member will be required to complete peer evaluation of the other team members using the rubric provided.

The plan is expected to include:

1. Title page. This should include the company’s name, logo, address and contact information along with your names and student numbers, the name of the course and the course number, your tutor’s name and the date.

2. Table of Contents. This will allow the reader to easily navigate through the plan.

3. Executive summary. This section is a synopsis of the plan. You should include the following:

      Customer “pain point” (problem, need or want the business addresses).

      Target market(s) and benefits of the product.

      The business model and basis for competitive advantage.

      Qualifications of founding team and key employees.

      Key financial highlights.

It should be concise, interesting and to the point. You are advised to do this section after you have completed the rest of your business plan.

4. The Vision and Mission Statements

This section expresses the purpose of the business, what it is now and what it will become.

5. Company Profile. This should include the following:

      When and why the company was formed.

      The form of business ownership.

Goals and objectives

• What the company will accomplish.
• How it will be accomplished.
• When it will be accomplished.
• Who will accomplish it?  

Answer 1

The brand name for the new skin care business will be beyound beauty. and its logo will be a women face with sharp closed eyes.

Executive summary-

Customer pain point- The need and want of the business is to attract the customer specially the women class as it is one of the new product to be introduced for which it is quite difficult for the customer to switch for a new product and that to the skin care as they are already using one of the trust worthy brands so its a challenge for the company to attract customer towards its product.

Target market and benefit of the product- The target market for this new skin care product will be the customer of the working class i.e specially the developed metro cities where number of womens belongs to the working class as they have to maintain themselves on the rountinely basis for which they requires certain trust worthy skin care product for their daily use which brings out an effective result. The benefit of this new skin care product is that is free from harmful chemicals and fully based on the natural ingredients that soothes the skin and provide with a long lasting nourishment which helps the skin keeps hydrated and moistured for long hours.

The bussiness model and the competitive advantage- As the business is brand new with the introduction of its new skin care products for which it need a full proof business model in order to be successful, the company need to have an effective plan for the product i.e how to introduce its product to the market, the target customer will be its working class women, the resources to be required should need to be of the finest qualities as the product is based on the natural ingredients.The finace to be required is also need to be estimated and proper arrangement is done in order to acquire those financial resources. The main competitive advantage of this new sskincare product business that it is free from harmful chemical and based on natural ingredients which other product doesnt provides in order to show the instant result and persuade the customer so this product is 100% cruelity free which serves as a great competitive advantage.

Qualifiaction of the founding team and the key employees- The whole business requires a team work or a team efforts for which an eligible qualified team is to be required for this business which requires to have a knowledge and some experience in the same industry and also need to be provided with effective training The main employees to be required is the expert i.e the skin care experts that can provide with the necessary ideas and techniques regarding the product. The working class that can work for the making of the product , the lteam leader who can effectively lead the team and the lab assistant where the product need tto be prepared.

The Finanacil key highlights- This skincare business need not a huge finance fir its resources as it doesnt requires expensive ingredients as it is simply based on the natural ingredients. It requires finance in order to meet the expenses to be meet in providing training to the unskilled labours and to also for the attractive packing of the product so that it can easily catch the customer eyes.

Vision and mission- Before branding comes the mission and vission of your business The mission of this beauty brand states that what the customer wants to achieve from your newly introduced product The vision should be to have bigger goals.The mission of the business need to state that why this product exist you also need to state that what you are trying to do with the product and why you are actually creating it. The brand vision should not be to make and sell organic formulation instead it should be about your dreams to how to make a brand difference.

Company's profile-

When and why the company is formed- The company is formed a year ago in 2019 as with a view to create a diiference among the beauty brand and the company is so formed as the growing trend among the women to take more routine care of their skin and more women belongs to the working class which is bring out a great demand for the skin care product in the growing market.

The form of business ownership- This beyound beauty skin care business is one of the privately owned business owhich is fully owned and managed by the single individual without any form of partnership.

Goals and objectives-

What the company will accomplish- The complany will accomplish the creation of these skin care range in order to win the trust and confidence of their new customer which will be accomplished by the concerned team working on it. The company will gain a certain market position among its competitors ain image in the eyes of theirwhich will definately help them with gaining the customer confidence and trust.

How it will accomplish- The company in order to accomplish it desired set goals need to work as an effective team because the effort of a team bring out more than the better results.The team will be guided by an effective leader in order to lead the team with the right direction.

when it will accomplish- The business will accomplish it goals and objectives when they will be successful in creating a certain image in the eyes of the new customer and when the customer actually feels like to trust over the companys product at this stage it gain a reputed image in the market by winning the confidence of the new customer as the new customer are switching for the companys product over other existing product

who will accomplish it- As the business is a private concern so their is no participants like partners or government agencies or bodies but it has a team working for the accomplishment of its goals so the team is responsible for the accomplishment of the company's goals and objectives which is laeding under an effective team leader to guide them with the right direction.