Business Plan for a Graham-Related Products Company: Innovative and Affordable Solutions, Schemes and Mind Maps of Science education

Download Business Plan for a Graham-Related Products Company: Innovative and Affordable Solutions and more Schemes and Mind Maps Science education in PDF only on Docsity! Bit o’Graham Introduction This section is entirely dedicated onto introducing our business plan; on how we came to the decision regarding our business product, business name, the tagline of our business, our vision for this business, our mission for this business, our logo, and finally our objectives on why we set-up our business; this section is meant to give a general overview at the various events that led to the creation of this business. Business Product Our business product is grahams! We chose this food as our primary product in our business because we noticed in our community that there is lack of graham-related products. This prompted us to look onto why graham-related products are so unpopular within our community. We found out that why graham-related products are so unpopular because most products that other businesses sell that are graham-related are generally lacklustre, repetitive, and unaffordable. When we say lacklustre, we mean that when other businesses try to sell graham-related products, the businesses do not do anything to improve upon their graham- related product; uninspiring. Consequently, lacklustre leads to repetitiveness — which essentially means that there is no change is design or concept whenever other businesses try to sell graham-related products; no businesses try to innovatively change the usual design and concept of graham-related products. Lastly, is unaffordability — this is also correlated to repetitiveness. This is because whenever other businesses try to sell graham-related products, they often copy other businesses that sell the same product; same design and concept, which also includes copying the same price for the product. Usually, these businesses make their prices for their graham-related products extremely high. That is why our business product is also graham-related products. However, we will not follow other businesses’ footsteps; we will actively be innovative with our graham-related products and will actively create new graham-related product — as well as make the bite-sized and affordable. Business Name Our business name is “Bit o’Graham”. We chose this name because it perfectly captures the intended nature, objectives, and missions of our business. The “Bit” in our business name is in reference to the fact that we plan for our graham-related products to be bite-sized, or in portions that can be eaten in one bite; hence the “Bit” part of our business name. The “o’Graham” part is in reference to the fact that our business will solely focus on graham- related products. Thus, the “o’Graham” part in our business name. When combining the two ideas together, we get “Bit o’Graham” — which is our chosen business name — and can be inferred as “Bite-sized graham products”. That is why “Bit o’Graham” is our business name because we aim to create and sell bite-sized graham-related products. Business Tagline Our business tagline is “Delight in every bite!”, which will be applicable to all our graham- related products. We chose this phrase as our business tagline because it perfectly captures our vision for this business — that is to serve sweet, delicious, affordable, and bite-sized graham- related products to our customers. This phrase is also short enough that it can be remembered instantly when heard of or read of. Which means this phrase as a tagline will make it memorable for each customer that we will serve in our business. This tagline will also serve as a hallmark for every product the we will sell, as every product we will sell will surely bring delight every bite you take, because not only will our graham-related products be sweet and tasty, but will also be affordable, which mean it is also affordable to all. Hence, the phrase “Delight in every bite!” is our chosen business tagline because it is an apt phrase that perfectly captures the nature of our business, and has the potential to be a memorable tagline for our business. Business Logo Our business logo is illustrated above this sentence. As illustrated above, our business logo is simple and concise. The primary figure is a graham-related product with our business name engraved on the top of the graham cracker. As well as our business tagline that is located beside the graham product. The business tagline is divided in half to coincide with the design of our business logo. Mission Our mission, as entrepreneurs, is to improve upon the aspects of the daily world for consumers. As such, the mission of our business is to improve upon the industry of graham- related products to prompt innovativeness within the graham-related products industry that will be conducive to the overall improvement of the standards towards graham-related products not only in our community, but in the global community as well. Vision Our vision for this business, like our vision for this business, is to improve upon the standards towards the graham-related products industry. Improving the standards towards the graham- related products industry allows us entrepreneurs, who plan to create and sell graham-related products, to be more creative with our products that we plan to sell to consumers; enables us to put more effort in our products to raise the standard within the industry of products we want to sell to people. Objectives Our objectives for this business are objectives that coincide with what was previously discussed in the previous sections before this one. Here are our objectives for our business, they are: a) We aspire to break the cycle of graham-related products being completely lacklustre, so our objective is to create inspiring graham-related products to our customers within our community. b) Likewise with objective A, we also aspire to break the cycle of graham-related products being repetitive in terms of design and concept. That is why our next objective is to create and sell graham-related products with varying innovative design and concept to customers within our community. c) Likewise with objectives A and B, we also aspire to abolish the cycle of graham-related products being completely unaffordable, consequently leading to inaccessibility. That is why our third objective is to sell affordable graham-related products to customers, which means our products become extremely accessible. d) Our final objective for this business is to raise the standards towards the graham-related products industry in our community, as well as raise the standards towards the graham- related products industry in global communities. Raising the standards will prompt other entrepreneurs with the same product to be more innovative and put more effort into their products that they sell to their customer. Product # 2: Grahmores Product Description Grahmores are cubical, bite-sized, no-bake dessert nibbles prepared with slices of graham crackers, marshmallow, and a slice of chocolate bar. They are simple to prepare and are the perfect bite-sized snack one could eat anywhere! Not are they only sweet and tasty, they are also affordable! Price For product # 1 (Graham de Bola), we plan to make each piece cost ₱5, without any mark-up percentages. The agreed upon mark-up percentage for product # 1 is 25% (0.25). Now, we can obtain the mark-up amount by multiplying the cost per piece with the mark-up percentage. So, the solution is ₱5 × 0.25 = 1.25. So, our mark-up amount is 1.25; to obtain the selling price, we merely add the cost per piece with the mark-up amount. The solution is ₱5 + 1.25 = ₱6.25. Hence, the price of product # 1 (Graham de Bola) is ₱6.25. We plan to sell it by packs, which contains up to 6 Graham de Bola pieces. We plan to sell it for ₱36 with the same mark-up percentage as the one that can be bought individually. Hence, the price of the product (Graham de Bola Pack, 6 Pieces) is ₱45. For product # 2 (Grahmores), we plan to make each piece cost ₱10, without any mark- up percentages. The agreed upon mark-up percentage for product # 2 is also 25% (0.25). Now, we can obtain the mark-up amount by multiplying the cost per piece with the mark-up percentage. So, the solution is ₱10 × 0.25 = 2.5. So, our mark-up amount is 2.5; to obtain the selling price, we merely add the cost per piece with the mark-up amount. The solution is ₱10 + 2.5 = ₱12.5. Hence, the price of product # 2 (Grahmores) is ₱12.5. We plan to sell it by packs, which contains up to 5 Grahmores pieces. We plan to sell it for ₱45 with the same mark-up percentage as the one that can be bought individually. Hence, the price of the product (Grahmores, 5 Pieces) is ₱56.25. Merchandise/Products Cost per Piece (A) Mark-up 25% (B) Selling Price (C) (A) (B) = (A × 0.25) (C) = (A + B) 1. Graham de Bola ₱5 (B) = (₱5 × 0.25) = 1.25 (C) = (₱5 + 1.25) = ₱6.25 — Graham de Bola Pack (6 Pieces) ₱36 (B) = (₱36 × 0.25) = 9 (C) = (₱36 + 9) = ₱45 2. Grahmores ₱10 (B) = (₱10 × 0.25) = 2.5 (C) = (₱10 + 2.5) = ₱12.5 — Grahmores (5 Pieces) ₱45 (B) = (₱45 × 0.25) = 11.25 (C) = (₱45 + 11.25) = ₱56.25 Selling Location Our selling location will be near Grand Pavilion Hotel at J.L., P. De Guzman St, Población, Mangaldan, Pangasinan. Wherein, you will find our business and us sell our beloved Graham de Bola and our Grahmores. Purchasing our products can also be achieved digitally through our online page at Facebook. The name of our Facebook page is the same as our business name, that being “Bit o’Graham”. Promotional Activity Our agreed upon primary way of promoting and advertising our product is using Facebook. We plan to do this by posting on our Facebook page named the same as our business name “Bit o’Graham” with the various graham-related products we plan to sell. We also plan to share the post through our personal accounts to gain customers. Another promotional/advertisement activity we plan to do is through recommendation of to friends and peers; prompting them to try our products and request them to recommend our products to other people that they know of that could be interested in our graham-related products. Another promotional/advertisement activity we plan to utilize in the future is promotional materials and videos. In the future, we aspire to utilize promotional materials such as flyers, posters, and tarpaulins that state our business name and emphasize our graham-related products; as well as use promotional videos that can be posted either on our Facebook page or played on television. However, those options are still impractical for our business as it is still in its infancy and due to our limited funds. Financial Section This section shows the money needed for the business, how much we will take in and how much we will pay out. Capital Amount We have discussed the capital amount needed to be able to run this business. The place, tools, and equipment needed for the production process are completely free as it was voluntarily suggested by one of the individuals in this business. Thus, we collectively agreed that most of the capital amount will be spent on materials needed to create our products, the packaging for our products, and creation of promotional materials for our products. We have also agreed that the capital amount will solely come from how much monetary value each member can give. Below is the table of donated money from each member that will add up to our capital amount. Group Members Amount Contributed Jomel D. Ortega ₱350 Mariah Angela Khayte R. Guiao ₱105 Lee Florenz Serana ₱126 Marc Jarryl B. Garcia ₱119 Cristina M. Macumpang ₱157 Sheila Mhay D. Rosendo ₱113 Ron Ryan M. Cayabyab ₱144 Blaisalouis V. Castro ₱156 Capital Amount ₱1,270 So, from the table shown above, our capital amount is ₱1,270. This means that the amount of money we must spend to start our business is ₱1,270. Expected Daily Sales We expect daily sales for both of our products. For product # 1 (Graham de Bola), we expect an expected daily sale of 60, and 15 for the Graham de Bola Pack (6 Pieces). We came to that expectation because product # 1 is the most affordable product we currently have, the price being ₱6.25, and ₱45 respectively. For product # 2 (Grahmores), we expect an expected daily sale of 35, and 7 for the Grahmores Pack (5 Pieces). We came to that expectation as it the most expensive product that we have that is relative to the price of product # 1, wherein the price of product # 2 is ₱12.5, and ₱56.25, respectively. Expected Daily Expenses Our expected daily expenses will mainly consist of materials for both products, packaging, and miscellaneous expenses. A table is presented below to list the amount these individual expenses cost, as well as add their costs to get the amount for our expected daily expenses. In the table presented above, the calculated expected daily expenses are ₱650. This means that the expected daily expenses when we start our business is ₱650. Income per Day Our income per day can easily be determined by first multiplying the price of each product to their corresponding expected daily sales to get the expected projected revenue (daily) from each product; then adding the expected projected revenue from each product Operating Expenses Costs Materials ₱500 Packaging ₱50 Miscellaneous Expenses ₱100 Expected Daily Expenses ₱650 Step 2: Mix in condensed milk. Pour the condensed milk over the crumbled graham crackers and blend with a spoon or whisk until smooth. A somewhat clumpy sandy combination is ideal. It should not be too wet or too dry, and it should somewhat stick together. Step 3: Make the Graham de Bola. Scoop a heaping scoop into your palm and roll it between your palms until it is spherical. Step 4: Make a flat disk out of your Graham de Bola. Gently press down on the ball with your other hand while holding it in your palm. Apply little pressure to achieve an equal and smooth surface. Fill with your chosen filling, in this example, marshmallows. Fill the middle of the flat graham ball with marshmallows. Be careful not to overfill your ball! Maintain a little pile of marshmallows in the centre. If you put too much filling inside the graham ball, it will not shut properly. Step 5: Fold your graham ball into a ball form again. Once you have placed a few marshmallows in the middle of the disk, gently press down on the centre while folding the edges up and together. Bring the top of your ball's borders together. The idea is to thoroughly fold the dough over, covering the contents inside. Make the edges smooth. Hold the graham ball between your palms and slowly roll it back into a ball, using minimal pressure. Then, roll it around in any coverings, in this case sprinkles. There we go! Product # 1 (Graham de Bola) is finished. Repeat the procedure to make additional Graham de Bola. Product # 2 (Grahmores) Step 1: Prepare your graham crackers, and divide them in three pieces. Step 2: Prepare the chocolate bars, and then melt them. Step 3: Place the marshmallow on barbecue sticks, and roast them. Step 4: Put one graham cracker on a plate or any surface, then pour the melted chocolate onto that bottom graham cracker. Then, place the roasted marshmallow on top of the melted chocolate. Lastly, put another graham cracker on the top of the roasted marshmallow. There we go! Product # 2 (Grahmores) is finished! Repeat the steps to create more grahmores.