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Business Plan on Our Company "Quafresh"

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EXECUTIVE SUMMERY

We are bringing to the market edible water balls which are very new and unique product. We are aiming for a more environment friendly way of drinking water that is why we are using the tagline “Drink smarter today for a greener tomorrow” Our products shape like ball. The outer layer of the package is always meant to be peeled like fruit–one thin outer layer of the membrane peels away to keep the inner layer clean and can then be composted. Where we see a lot of potential for quafresh is outdoor and indoor events–festivals, marathons, weeding, birthday and organization meeting or conference places where basically there are a lot of people consuming packaging over a very short amount of time.

Our business requirement startup capital is BDT 80,000,000.00. Our sources of fund will be coming from personal: BDT 40,000,000.00, bank loan: BDT 25,000,000.00, investors: BDT 15,000,000.00.

Our business major goal:

We will supply high quality hygienic and purify water. And our main target is to protect the environment from plastic pollution. Because, there is no plastic used to make quafresh water ball. So, our product will help to prevent environment pollution.

Objectives:

The main objective is to make a sustainable environment by consuming these water balls instead of water bottles. The material is also cheaper than producing a plastic water bottle. Millions of water bottles are being thrown away in Bangladesh as a result it is filling up landfills and also entering the sea.

Company background

Quafresh is unique product in our country. Others water companies are not think about this type of product. Quafresh is ecofriendly product for our country peoples. Our product is immersing a frozen ball of water or juice into a calcium chloride solution helps from a gelatinous layer around the liquid. Our balls are usually come of 50 milliliters, 100 milliliters and 150 milliliters which can even made into small quantity’s as per needs. As government has banned use of plastic, which was used for making of watter bottles by many companies their was need of an alternative that is fulfilled by our quafresh water ball.

Mission

Quafresh aim to conservation of water, minimizing wastage and ensuring its more equitable distribution both across and within states through integrated water resources development and management. Quafresh is control water related disease. Because our products will provide nutrient & mineral base water for consumer.

Vision

“To meet up our customers’ expectations by providing an outstanding water ball service in a sustainable and affordable way”. And safe drinking water for all, at all times, in rural Bangladesh.

Company’s Competitive advantage:

  • Our company will provides one day training to dealers about our product “Quafresh”
  • Our company will provide more informations and train up to our marketing employees.

Legal form of ownership

The legal form of ownership of this business would be partnership. The business would be equally owned by 5 partners who has similar interests. We will equally distribute the work of running the business according to the partner’s skill and knowledge. Our business principle is to earn profit by giving good service to our customers. Our business is based on partnership. Because partnership business has some advantage such as:

  • Shared Management.
  • More Capital.
  • Longer survival of our business.

SWOT Analysis My business

Competitor 1

(MUM)

Strength

  • Unique product
  • Eco friendly
  • Availability of raw material
  • Biodegradable § High brand image
  • High consumer perception
  • Extra production capacity

Weakness

  • Needs to maintain proper contain
  • Awareness among peoples
  • Do not perform any in any promotional activities

Opportunity

  • Replacing use of plastic
  • Expansion in future by Exporting
  • Growing market demand for plastic alternative
  • Good product demand as this is a basic need
  • People are becoming very much health conscious

Threat

  • Climatic condition may affect
  • Others company coming with up with variety sizes of bottles.

Comparison of product/service with competitors

Management team

Form of Business: Partnership

Name of the Business: Quafresh

Sector / Industry: Beverage.

Brief Introduction of the Entrepreneurship

Sl. Name Educational Qualification

Mirza Mohammad Ali O Level, A Level, BBA 3rdSemester

Parvez SSC, HSC, BBA 4th Semester

MehediHasanFaysal SSC, HSC, BBA 4th Semester

SyedaAanika Akbar SSC, HSC, BBA 3rd Semester

Abir Saha SSC, HSC, BBA 3rd Semester

Organizational Chart (Oregano gram)

Job description

Chief Executive Officer (CEO):

The responsibilities of our CEO will be managing the company’s funds, taking decisions with other partners, forecasting the firm’s future revenues. The main responsibilities would be managing the resources and taking decisions in the firms favor. Collaborating with other heads and building a team. He would also evaluate the company’s performance and take future decisions.

Head of Finance and Account:

The responsibilities of our CFO would be to manage, spend and generate firm’s funds. Generating and spending of funds. Managing the firm’s short term and long-term financial decision. Assist in formulating the company’s future direction and supporting tactical initiative. Manage the capital request and budgeting process. Develop financial and tax strategies.

Head of Marketing:

Marketing is one of the most crucial sectors of a business. If marketing is not done properly, it will become tough for the company to get hold of customers. The responsibilities of the head of marketing department will be to establish marketing strategies, take decisions related to marketing and help the company achieve its goals through proper marketing. It will be her responsibility to help other partners in choosing the best pricing strategies. It will be the heads of responsibility to segment and predict the future of the market. Also keep record of how effective the marketing strategies are. Head of Marketing control Advertising Manager, Online Ad Manager, Part-Time Marketer. Head of Marketing also train the Part-Time Marketer. He keeps record of how effective the marketing strategies are.

Research & Development Officer:

Research and Development is a vital part of any kind of business. So in our manufacturing company R&D officer will do research on our bio fungicides product so that us the producer can produce more this product more efficiently. This R&D officer will also think about our development of our product so that we sell produce at decent price and farmer can get help from this product as well.

Human Resource Management (HR):

Maintains organization staff by establishing a recruiting, testing and interviewing program; counseling managers on candidate selection; conducting and analyzing exit interviews; recommending changes. Prepares employees for assignments by establishing and conducting orientation and training. Part-Time Marketer is also be included in this sector.

Operation officer:

Our operation officer communicates with each production employers, customers, vendors, and suppliers, the better for our business. He will not only operate within the factory because he will also operate with other outside the factory like field officer. He will also control our production quality.

Product and service

Products Description

As mentioned earlier the product we are bringing is an edible water ball. Basically the product will be a ball like pouch which will contain pure drinking water. The pouch itself will be organic so that it can be consumed after drinking the water inside. Again people can also consume the whole thing at once to get a unique experience. The container itself will have two layers, the inner layer will contain the water and the outer layer will keep out all outside entities from reaching the inner layer so that it is safe for eating. Consumers will be easily able to peel off the outer layer and enjoy our product. Even if customers decide to throw both the layers away it will not harm the environment since both the layers are organic and will decompose within 2-4 weeks. Is made through a process called spherification, which shapes liquids into spheres. A compound made from brown algae and calcium chloride creates a gel around the water. While the package is being formed, the water is frozen as ice, making it possible to create a bigger sphere and keeping the ingredients in the membrane and out of the water. This process is repeated to make the second layer. We are bringing this to the market to provide a greener alternative for plastic bottles which take almost 700 years to decompose whereas Quafresh decomposes in 2-4 weeks.

Industry analysis

PESTLE analysis:

Political-Income tax and other taxes: we can see that Quafreshis made by reasonable raw materials as like sodium alginate (which comes from brown seaweed), calcium lactate (which is a salt), drinking water,baking powder, cheese.etc. These all are very reasonable in our country. That’s why the taxes are lower.

Economic-This is the stage where the mass people will finally start to be aware of our product and its details. For this reason in this stage we will have rapidly rising sales and profit and average cost per customer will also decrease. This is the also stage where we will see growing competition This is when we will try to make various extensions for our product. We will also try to switch to mass marketing since we are selling water. The prices for our product in this stage will still remain low so we can penetrate and attract the mass market and also drive away the competition. We will also switch to intensive distribution to keep up with the demand for our product.

Social-our products are easily used in outdoor and indoor program. Because after drinking consumer doesn’t through any plastic materials. Our products will change environment system. The upper layer of our product will easily mixed with soil within one-four weeks.

Technology-It is one of the most important parts for every business. Without technology business doesn’t run smoothly. Technology will help our business. Because our all machine will automate for production to produce products. We also using computer to update our business employee’s record keeping part. CCTV will using high security in factory and also observes employee’s activity and their work inside the factory.

Legal- In the least development third world countries, the most important consumer right is the right to satisfy basic needs. Any inquiry into the problem of consumer protection in one of the least developed countries, such as Bangladesh, should being with the existing fundamental difference between consumer protections philosophies in the development and developing countries of the world.

Environmental-Environmental impact of service business practices the relationship between humanity and the environment is a delicate balance. Since the industrial revolution, the world pollution has increased exponentially, and with the population growth, the environment has been profoundly affected. Deforestation, pollution and global climate changes are amongst the adverse effects the population. But our product is totally beneficial for environment. It is not harm full.

Target Marketing

The places we have chosen for the retail outlets are Bannani, Gulshan, Dhanmondi&Bashundhara R/A andBadda is the center of all the outlets so by judging it in every possible way we have chosen it as the location for our factory. So that we don’t have to put our concern on saving the transportation cost and use the time correctly by not wasting time on traffic jam in Dhaka City.

Even during the peak time of sales our outlets won’t face any shortage or crisis of water balls as the factory can keep on supplying 24/7 because of the positioning. Distributors can also easily communicate with the Manufacturers quite easily.

Key competitors

Our main competitor is MUM Drinking Water. They are the popular and the market leader among the drinking water brands in Bangladesh. Mum is dominating 45% market share in mineral water industry. Their marketing and production channel is very strong.

Marketing Strategy:

Product strategy:Quafresh products are useful for human being. We will also make edible juice and soda. People’s easily use our product. Using this product is not harmful for our health.

Pricing Strategy:Quafreshindustry is mainly beverage industry. Quafresh product’s price depends on raw material, direct & indirect labor cost, transport system etc. Those parts are related with Quafresh productprice. Our product pricing strategy is penetration.

As we will charge 4 taka only for 150ml water ball so our distribution price falls and we can easily enter the market and compete with others. Because of our low price at the very beginning we can target a vast number of buyers and win over a very large number of market shares in a glimpse. Bangladeshi people are highly price sensitive so when we are giving 1 ball for 4 taka only it won’t affect them and they won’t judge our product as overpriced. Many large industries come up with a reasonable price and once they get a stable position they start to charge more price and keep increasing it day by day which creates a negative impact on the customers. But we decided that we will keep the price as low as possible as long as possible as our goal is to make the product sustainable.

Promotion strategy:Quafresh products will use Internet, Advertising, Newspaper, Flyer, Magazine etc. Marketing using this strategy people around the world will able to know aboutQuafresh water ball.

Promotional Measures:

  1. Wall painting
  2. Advertising
  3. Newspaper
  4. Flyer
  5. Magazine
  6. Local Radio
  7. Shop painting
  8. Social media
  9. Farming equipment painting
  10. Sometimes discount on products

Those parts are related with Quafreshpromotional strategy. Without promotional, Quafreshcan’t stay in primary field. Because promotional strategy increase sale in market. So, Quafreshis mainly focus to promotional strategy.

Distribution strategy:We are going to use Conventional Marketing Channel rather than the Vertical Marketing Channel. In Vertical Marketing Channel the cost will be more as we have to be the Manufacturer, Wholesaler and Retailer all at once, where the Investment will be huge and we will need more sites, space and staff for retail outlets and wholesale management. In the end we won’t be able to stick to our cheap product price.

In Conventional Marketing Channel we don’t have to face extra hassle and stress as we are not taking charge of distribution and retail. So we think the Conventional Marketing Channel is much safer than Vertical marketing Channel and we will remain in safe zone and will keep our commitment to the distributors and buyers.

Target Customer:

Quafresh target is indoor and outdoor events-

Quafresh sells different types drinking products.Our product is environment friendly product. Our products always focus on maintaining quality.Our product price is very reasonable or easier to customer. we will supply our products in cities area.Among these we have decided to target the student. The students always prefer a fast and flexible and they are open to new ideas. As we are targeting the students we see that most of the schools, colleges and universities.

Raw Material:

By using a process called spherification, which creates a liquid with a soft membrane that you can eat. The process combines drinking water with sodium alginate, which comes from brown seaweed. After those two are combined, spoonfuls are put into a bath of calcium lactate, which is a salt that can be found in many items like baking powder, antacids, and cheese. Inside the bath, a gelatinous membrane begins to form, though the water stays liquid in the middle. The result is a refreshing drink of water that doesn’t require a separate vessel like a bottle or a cup.

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Business plan on our company “Quafresh”. (2019, March 27). GradesFixer. Retrieved August 9, 2022, from https://gradesfixer.com/free-essay-examples/business-plan-on-our-company-quafresh/
“Business plan on our company “Quafresh”.” GradesFixer, 27 Mar. 2019, gradesfixer.com/free-essay-examples/business-plan-on-our-company-quafresh/
Business plan on our company “Quafresh”. [online]. Available at: <https://gradesfixer.com/free-essay-examples/business-plan-on-our-company-quafresh/> [Accessed 9 Aug. 2022].
Business plan on our company “Quafresh” [Internet]. GradesFixer. 2019 Mar 27 [cited 2022 Aug 9]. Available from: https://gradesfixer.com/free-essay-examples/business-plan-on-our-company-quafresh/
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