Assessment is to introduce our business to Investment

Assessment NameDragons DenBusiness Plan for Rest n’ RechargeModule/ Code4130BUSHRStudent Name Student NumberJulie CardenElle Maguire 802760Dearbhla Roddy 789511Date of submissionFriday 19th January 2018  Table of Contents1    Introduction 22       Executive Summary 23      Marketing Plan 44       SWOT Analysis 45    PESTLE Analysis 76    Porters Five Forces 97     Financial Plan 108    References 11Table of ImagesImage 1 – Damaged Wire 3Image 2 – Product Image 5Image 2 – Product Image 6Image 3 – Product Image 7 1 Introduction The purpose of this business plan is to introduce our business to Investment Dragons and attract an investment of £10,000. The trading name of our business is Rest n’ Recharge and we manufacture and sell mobile phone holders, which can be used when charging mobile phones. When using our mobile phone holders it is not possible to use the phone which forces the owner to take a Rest and also ensure the mobile phone or charging cable does not overheat on a flammable surface and potentially causing a fire whilst the mobile phone is on Recharge. Hence the product name Rest n’ Recharge.Our innovative product offers customers a safe way to reduce the amount of time they use their mobile phone, whilst making sure that fires are not caused and keeping charging cables organised. product forces individuals, especially children, a break from their  phones and reduces the chances of them being exposed to large amounts of radiation. According to the Indian Journal of Human Genetics, “40% of cells taken from mobile phone users show DNA damage”. Placing your phone on our product aims to curtail the damage of radiation from mobile phones. It also states that “children have the potential to be at greater risk than adults for developing brain cancer from mobile phones. Their nervous systems are still developing and, therefore, more vulnerable to factors that may cause cancer. Additionally, house fires that have been blamed on people charging their phones on surfaces such as on beds or under their pillows. Several incidents have featured in recent media along with stark warnings to refrain from charging phones on flammable surfaces. For example, an article from The Metro (2016) highlighted the dangers when reporting on a young girl aged 15 had left her phone on her bed charging. Her mobile phone charging cable overheated on her bed and caught fire, the entire room became engulfed in flames within minutes.  Online shopping has increased in popularity over the past 10 years and It is becoming more convenient for people to shop online. Especially for people who cannot shop on the high street due time constraints such as work commitments or because of mobility. Today, people can buy almost anything online and have their goods delivered to their door without them having to go outside their home. Another advantage on trading online would be that products tend to be much cheaper due to fact that increased competition between retailers brings down the prices. Trading online can allow products to reach a wider target market as it is available to anyone around the world.  Technology over the years has changed to allow people to communicate more quickly and efficiently with their friends, family etc. A lot more people have access to a mobile phones, children as young as 6 now have their own mobile phone and this can cause severe damage to their health and well-being. Smart phones tend to be the most common form of keeping in touch with everyone because you also have access to your social media accounts. Although smartphones tend to be one of the most likely phones to catch fire if they are not charged correctly, for example not on a flammable surfaces, our product would again prevent this from happening. The public may be drawn to our product in particular because we have decided to take an eco-friendly approach to it. We use recyclable plastic in our manufacturing which will give our business a good corporate image which we believe will attract more consumers to our product. It also has a positive impact on the environment. Image 1: Damaged mobile phone charging cable.2 Executive SummaryRest n’ Reboot will appeal to safety conscious mobile phone users in the global marketplace. Our vision is to successfully grow a global businesses providing customers with safe products that will enable them to reduce the amount of time they spend on the devices whilst simultaneously recharging their mobile device to ensure they have a fully charged device when leaving their home or workplace.  Image 2: Rest n Recharge Product Image We are a private limited company. We have decided this because being a private limited company we will be treated as a single entity. Therefore, if anything happens to the company we will have limited liability to the company. The reason we chose to be a Private Limited Company rather than an unlimited company is because we want protection for members and shareholders. Our peak months are October (with a total income of £16,375), November (£15,375) and March (£15,350). We would be paid immediately rather than on credit because we will be guaranteed the money. We are seeking an investment from the Dragons of £10,000 as well as their guidance during the business process. Our cash flow forecast helps us budget our money as it is clear because it tells us where the money is going as well as showing our total income and total outgoings. The cash flow forecast helps us set targets because we can see how much we made the previous months and see where money can be saved for the next month. To increase profit, we could introduce more ways to sell our product online such as paper click. We could also reduce costs by saving money on things such as office supplies and manufacturing. By looking at the balance sheet we were surprised that the total liabilities and total equity is £23,966.50. We want £10,000 off the dragons and in return we will give them a 20% share in our business.  Image 3: Rest n Recharge Product Image The design of our holder is small and unobtrusive and means that there is less pressure put on the charging lead which often after a lot of use becomes weakened at the end. Using the holder minimises the stress on the pressure points of the charger lead. Together we talked to our friends and family members and they thought it was a great idea and they would love one for their children as it would give them a break from their phones so that they could do their homework etc; This led us to the idea of marketing the holder so it can be hung on a hook or knob so that members of the family can place their phone on for a period of time when at home to allow them to be less distracted when doing something else. In the next five years we expect that we will have sold out business. We will need professional advisory support form and account and we will also need an insurance advisor.   3. Marketing Plan: Image 4: Rest n Recharge Product Image3.1 Product3.3 Price3.3 Promotion3.4 Place4. Swot Analysis SWOT ANALYSISSTRENGTHS WEAKNESSES • Reduce the number of house fires that are caused by mobile phone/ tablet charging cables.  • It keeps charging cabled organized and does not allow wires to get tangled.  • It is a reasonable price • It reduces the risk of charging ca-bles being broken or snapped (which causes the fire hazard) and ultimately this will save money as the customer will not have to buy more charging ca-bles. • Recycled plastic is being used to create it. • It can be improved-it can be updat-ed- for example when wireless charging becomes more assessable they can still be used. Also, the layout of it at the moment makes the phone unavailable whilst charging but can be improved. • Most people are on some type of social media or online shop so our product is assessable to most people. • There are other competitors at the moment. • It is hard to see the screen when it is charging, for example teenagers would not like this idea because they are said to be addicted to their phones.   • Only people who are on Social Me-dia will really see our product because that is what we are mainly advertising on.  OPPORTUNITIES THREATS • It can reduce house fires • Increasing use of Social Media  • Change and personalise our de-sign so that it would appeal to a wider target market • Advertising is expensive on Social Media  • Competitors ?5.PESTLE AnalysisPolitical As the UK Government continue to negotiate a soft Brexit from the European Union (EU), there is still a significant amount of uncertainty. The impact of leaving the EU may have an impact on our current trade links around the world.Economical Currency exchange rates have a constant impact on worldwide trade and profitability and this must be closely monitored to ensure that products are shipped at the lowest possible cost.Social As the business will rely on social media networks for sales, it is critical to keep an eye on the current changes by Facebook to reduce adverting content in the main news feed.Technological Technological advances continue to open up the global market and enable small business start-ups to get their products in front of international audiences, whilst taking orders in local currencies using platforms such as PayPal, Amazon and Ebay.Legal Whilst every effort has been made to ensure that our product is safe the business will ensure that it has all the relevant product licenses in place and also cover the business products with associated Business Insurance .Environmental We will be using recycled plastic in manufacturing, which will have a positive impact on our environment.  6.Porters Five ForcesThe five forces strategic business tool was created by Michael Porter in 1979 to analyse the attractiveness of launching a business in an existing market. Porter a professor at Harvard University is one of the most respected academics in the field of strategic management. Porters five forces model consists of the following forces:Competitive Rivalry. Supplier Power. Buyer Power. Threat of Substitution. Threat of New Entry.7. Financial Plan PLEASE SEE EXCEL SHEET (INSERT HERE) – (Spoken to Dave about Financial Plan first week of January8. ReferencesPorter, M.E. (1990, 1998) The Competitive Advantage of Nations, Free Press: New York