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BUSINESS PLAN
Figure 1: Logo of the Business
Executive Summary
This assignment involves creating a business plan for any product. It includes marketing plan, financial plan and company structure. My product is razor and the name of the product is Jupitizer. The name of my company is BestTrax Incorporation. Jupitizer is an American brand of a safety razor, which will help the person to do the shave safely and add glow to the face. It has an automated function of shaving gel dispenser and infection proof blades. Hence, it can also be introduced in the UK. There are five platinum-coated blades, which helps in protecting the person from cuts and nicks. The total funding requirement of the business stands at 88000 euros. These funds are arranged from the financial institutions as well as the seed investors. The funds are arranged keeping in mind the valuation of the business in the longer run as well as the period after which the long-term borrowings are taken care of. Initially, I need 160 employees in my organisation to handle different departments.
Table of Contents
Executive Summary    2
Introduction    6
Name of the Business    6
Product    6
Brand Name of the Product    6
Product Description    6
Rationale for This Product    6
Benefits of the Product    7
Advantages to the Customers    7
Unique Selling Proposition (USP)    7
Future Development    7
Long Term Aim of the Business    7
Objectives    8
SWOT Analysis    8
Strengths    8
Weaknesses    8
Opportunities    8
Threats    8
Marketing Plan    8
Industry Insights    8
Target Market    9
Target Market Valuation    9
Targeted Share    9
Mission    9
Tag Line    9
Marketing Mix    9
Product    9
Price    9
Place    10
Promotion    10
Segmentation, Targeting and Positioning (STP) in the Marketing Strategy    10
Research and Development (R&D)    10
Standalone Points of the Product differentiating it from others    11
Key Benefits    11
Platinum Coating Blades    11
Infections Free Blades    12
Rubber Coating    12
Financial Plan    14
Source of Funds    14
Bank Lending    14
Investment from Angel Investors    14
Owners Fund    14
Funding Requirements— Equipment    14
Research and Development    14
Marketing    14
Staffing    14
Financial Projections    15
Financial Statements    16
Profit And Loss Account    16
Balance Sheet    17
Cash Flow Statement for BestTrax Incorporation as on 31st March 2020    17
Sales Pipeline    18
Growth Aim    18
Management Team and Company Structure    19
Areas of Responsibility    19
Advisors    19
Financial Advisor    19
Legal advisor    20
Staffing    20
Finance Department    20
Operations Department    20
Sales Department    20
Marketing Analysis Department    20
Research & Development Department    21
Human Resource Development    21
Training Plans    21
Policies    21
References    23
Introduction
Name of the Business
BestTrax Incorporation
Product
Razor
Brand Name of the Product
Jupitizer
Product Description
The business plan is about a razor named “Jupitizer” and the company name will be BestTrax Incorporation. Jupitizer is an American brand of a safety razor, which will help the person to do the shave safely and even add a glow to the face. The razor contains five blades and is platinum coated and the cartridge for it is built in such a protective manner that it prevents the user from cuts. The body of the razor is also designed in a flexible manner and has a good quality grip. This will help my company to serve in a better way to the customers and attract a large customer base.
The shaving gel is made up of herbal products, which adds glow to the face, and there are no chances of irritation. The products used are recyclable and eco-friendly. People can use the razor at home without any difficulties, which will save their time going to salons. This razor will help the office going people to groom themselves as and when needed. The purpose behind this plan is to provide customers with a good quality razor, which will help them in shaving quickly, saving their money and time. The thing that makes my razor different from competitors is that my product has an in-built shaving gel dispenser, which prevents the customer from applying it repeatedly at different areas.
It will automatically be out when the razor is in use. The service that will be provided for the time being will be offering a combo offer, which will contain a razor along with shaving gel and blades. By providing these features, I want to attract a large customer base and gain maximum market share, which will help my company to stay ahead of competitors. With this starting up of business activity, I want to contribute to the skills towards entrepreneurial behaviour. I aim to generate innovative ideas to assess and utilise opportunities. The customer base will include middle and elite class people, office going people and salons too who needs razor to serve their customers.
Rationale for This Product
I have chosen razor as my product because this industry is growing rapidly and that too worldwide. The reason behind its growth is increasing focus on grooming. The organisations hire people who look hygienic and well groomed. The individual themselves have started focusing on maintaining their personal hygiene. The way you maintain yourself, gives an idea of your personality. The product saves a lot on recurring purchases.
Benefits of the Product
It is the human nature always to be on the lookout for something new and better. They look for quality and cost effective products. I will be trying establishing technology that provides many benefits such as—
a) The body of the razor is flexible and has a good grip.
b) It is a double edge safety razor and is crafted of platinum.
c) The shaving gel contains herbal products.
d) It contains protective guard that is intended to protect one from cuts and nicks.
e) It needs little investment of time and money for a superior quality shave.
f) Its packaging contains proper kit including razor, a pack of blade and gel.
g) Recyclable and eco- friendly products
Advantages to the Customers
a) Provides safety from any sort of injury
b) Clear and superior quality shave
c) Adds glow to the face.
d) Time saving
e) Cost effective
f) Availability of offers
Unique Selling Proposition (USP)
The unique thing in the product is that it contains an in-built shaving gel dispenser and blades, which are platinum coated. The shaving gel contains herbal products.
Future Development
BestTrax Incorporation will expand the product line and offer more advanced product to the customers. The company in future will also be planning to develop a razor for females so that we can serve more and more customers. The beauty consciousness and changing fashion is attracting the women towards this category. I will also try to expand globally.
Long Term Aim of the Business
The long-term aim of the business is to become a leader in the market and gain reputation. The focus will be customer satisfaction and to stay ahead of competitors. I will also try moving at international level.
Objectives
The company initially will be starting with capturing few markets such as California, Texas, Georgia and then slowly and gradually moving towards long-term aim. The main objective is to develop the best shaving razor for the UK market. In future, companies aim is to expand the product line, adoption of new technology by contributing extensively towards research and development department and providing desirable services to our customers.
SWOT Analysis
    Strengths
· Aggressive advertising
· Product innovation
· Quality
· Brand awareness
· Customer Loyalty
    Weaknesses
· Long development cycles
· Expensive brand maintenance
· Global expansion
· Lack of experience
    Opportunities
· Expansion of production and distribution
· Consumer brand preference
· Global expansion
· Eco friendly
    Threats
· Existing competitors
· Economic downturn
· New entrants
Marketing Plan
Figure 2: Logo of the Product
Industry Insights
The global razor market is estimated at a value of $17.5 billion in 2018, and is poised...