MODULE: ENTERPRISE AND ENTREPRENEURSHIP

MODULE CODE: ARUBAV2EE09

STUDENT NAME: MOHAMMAD ZAMEER

STUDENT NO.: STU41427

WORD COUNT: 2597

DATE OF SUBMISSION: OCTOBER 21th, 2014

The executive summary known as an introduction.

EXECUTIVE SUMMARY FOR ESTABLISHING SEVEN STAR BOOKSTORE

This is likely the most crucial section of the whole structure. The main objective of the executive summary is to
strongly promote your enterprise concept & ideas to the financiers. Therefore, we summaries the idea’s briefly
which will convince the particular investor to look at further. “Sincere investors obtain a lot of business
strategies weekly, so when you make an executive summary which "hooks" the investor, your task will half-
finished” (Joseph, 1994).

In the general overview of the business strategy, the executive summary will observe the title-page. The
summary must identify the investor what you desire. This will be significant about the entrepreneur to create
clearly report regarding what you will be demanding in the summary.

The study by Wendy (1997) argued that, “business plans usually consider as blueprints for the business
successes. Business plans can also depend on kind of procedures, however you can find standard elements in
same into all”.

Now, I plan to open a bookstore, which identify as ‘Seven Star Bookstore’ in the UK. This concept is because we
are studying and need the books for research & also for making notes, essays, and assignments, etc. form
bookstore, so if I establish a bookstore in the UK makes me profitable by capturing the wide students &
customers.

According to Brian (2013, p.16) has stated, “There are lists of the key issues that will convince others to invest in
the business by following.

 The business background

 Why we are different

 The management team

 The proposals & challengers

 Forecast of funding”

This is an active and a developed marketplace: once the particular investor examines your business plan, then it
will think & recognize well as they could be customers of the bookstore. Apparently we, wanted to clarify how
the bookstore run, to be able to rectify each misunderstandings. Next we should persuade the investor that we
will create an effective fresh entering in to this more developed market by something unique. It’s also necessary
to describe how the intense management team performs and clarify how such ‘aspects’ of the market works, as
this was the planned on introducing new conceptions and having thought over effective competitors. An
interested investor stays in confident to raise the belief relating to their competitors and the customer’s
movement. After that the difficulties become consider to follow a reasonably common structure, within the plan
by itself, the business enterprise is able to hold the competitive benefits. The forecast shows the significant
investment factors in the business such as sales, revenues, fund’s movements, and return. Imagine the budget
required to launch the bookstore.

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MANAGEMENT TEAM FOR RUNNING SEVEN STAR BOOKSTORE,

The professional staff, that organize and

work extremely is important as compared
to the weaker staff, which is the main
reason of decline. It is a beginning of
specifying the bookstore concept to the
enterprise where the bookstore runs
along with the greatest skills having in
our management.

Basically, our bookstore is in an earlier

stage and need an experienced staff,
which attracts the financier to invest in
my bookstore. However, “Another factor
that investors used to take options is
gender and body looks of the staff
themselves”(Alison et al. 2014).

[Source: dummies (http://media.wiley.com/Lux/22/314822.image0.jpg)]

In seven star bookstore, experienced members are responsible for planning, preparing, and controlling the
bookstore’s activities; create and execute the store’s running operations; also suggesting proper relevant
guidelines. He/she is responsible for organizing and monitoring annual bookstore budgets; dealing and keeping
the bookstore sales reports, furthermore hire, train, and supervise the fresh staff also.

Bookstore supervisors oversee the team for bookkeeping functions and selling, supplying, cleanness for the
bookstore. The staff will organize campaigns of marketing for the seven star bookstore. Managers will consider
the costs of books, and be sure, the bookstore is getting profit on maximizing sales and staying prices low.

CONCEPTION OF SEVEN STAR BOOKSTORE

The idea to launch the seven star bookstore with the perception of both printed & E-books, becomes after
examining the population interest, & the vast majority of students towards the store to get the research
materials.

Now, establishing a fresh bookstore mainly relies on the owner’s belief ‘how I deal the bookstore toward
successes’. According to Chen, Wen, & Yang (2014) said, “develop and formulate a great and significant business
idea straight from the starting”.

The success of our bookstore needs a concentration on business's goal, plans and standards, together with
consideration of the affects towards the store from each external and internal factors. As Daniel, R (2014)
explores that, “It is an essential that your organization strategy shows your organizational conception and
proposition consist of vision of the organization, describing the worth of products or services brings the
customers”.

As a result, it allows me, and serious investors to check out and analyse the concept of the possibility, each from
the market and a capital point of view.

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PREPARING METHODOLOGIES FOR SEVEN STAR BOOKSTORE

The methodology, analysis each main issue with on an operating bookstore by using the method together with
the development, we start thinking about the growth, the marketplace, and the surroundings. The evaluation
document by myself will help investors to figure out good and bad points within the business Plan and after
getting satisfaction enter the plan into proper workable action.

A model example by (www.metronome.com,2014) for running a business may have to consider the following
operational issues

 Production Difficulties: No.

 Supply and setup Difficulties: No.
 The selling Difficulties: product sales period can be prolonged at the beginning levels due to the
following factors:-

1) Difficulty to target the customer's

2) Products and services with maximum costs
3) Need for the advanced level of supports, e.g website
4) Bookstore's background and product or service label
5) The Long decision making plan for the prospective customer's.

 Functioning support technique Difficulties (IT): consumer and Technological assistance requires.
 Maintenance difficulties: No.
 Growth issues: check the plan and should guide the backup plans by the risk management.
 Major issues: The bookstore's threat recognition, review of risk management.

OBJECTIVES OF SEVEN STAR BOOKSTORE

Establishing a bookstore need goals and objectives in your long-range plan. As Charles (1992, p.27) suggested
that, “Objectives need to be considerable and achievable benchmarks for expectations. Objectives are generally
indicated in terms of success, growth, profit, or incomes”. The objectives of a bookstore will implement
dependable over a long period of time. The store's objectives, however, reflect modifications in environmental
surroundings and changes in the store's competing position.

As a newer, business runner should require the objective as a procedure in the long-range plan (Wendy, 1997)
again said that, "Some entrepreneurs have difficulties placing objectives since they ask, “how could I predict
what is possible tomorrow?”. However, in case if you are expecting the market and willing to reach to the
objectives. Only long-term planning can assist you to eliminate such issues and place dominating the bookstore
in the future. It is also called the strategical plan, where the long-term planning supports you to set up unique
objectives and targets or change current ones to get maximum objectives. And it is a great idea to include as
much experienced staff when going to set the objective.

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SEVEN STAR BOOK STORE IN MARKET

Studies by www.ilearn.rdi.co.uk (2014, p.7) express that, “Business plan where entrepreneur has to be defined
over the market about what to target?, the factors for it and exactly how the products or services might remain
in it”. The market depends upon two criteria. Ones the Market sized and secondly the Market rate of growth.

The market organizes its product in order to assess and attracts to your plan. By Brian (2013, p.33) says that, “A
wholesale bookstore business in the UK has become a disconnected sector with several individual bookstores
which basically trade from smaller areas of around 100 sq. m”. Furthermore, the bookstore might deal with real
state issues such as the location of the stores.

According to (www.ukessays.com, 2014) explore, “The growth of the online world like purchasing E-books, is
considered the most difficult for classic bookstores. Well, we may also create internet shopping service for
customers, but for business consideration online service is cost competitive advantage become less”. It reveals
that we must have to consider on E-book selling due to the modern trend to run a bookstore with consumers
behaviour.

[Source: digitalbookworld.com (http://d1u0vyj1e00z8y.cloudfront.net/wp-content/uploads/uk-retail-share.jpg)]

On the other hand, the bookstore business contains wide competitors by all the volumes of the cost-effective
level, in order to a new entrant into the market, you need to clarify ways to copy the step regarding to cost
advantages. By www.metronome.com (2014, p.17) express furthermore, “That direct and indirect, upcoming
competitor is a crucial part of a successful competitive plan of action. It provides the store to higher identify
about its service and shift itself into the market position”.

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A highly effective point is brand identification, the uniqueness of bookstore normally have intense experts. We
could offer the service having brand identification, Hence, the benefit is some book stores might not provide
online purchases. Offering E-book support can create solid brand identification and excellent service caused
using electronic systems that have always stored assures the services.

COMPETITORS AND SEVEN STAR BOOK STORE

The leading competition in Bookselling business will be the classic book or print book store like Waterstone's in
London area as well as regarding non-store or online bookstore like Amanzon.com, Bookstore.co.uk and
harriman-house.com are already present in the marketplace. E-Books could be the task for competitors as the
tastes of E-reader like to read on iPad from Apple or tablets.

According to (www.businesscasestudies.co.uk , 2014) stated that, Operating the Bookstore via online be
competitive to deliver similar ebook within affordable cost by consumers. However, furthermore, there are lots
of types of low cost competitions, e.g. locality - coming to the absolute easy place for consumers, and customers
care - providing the most effective self-focus on the requirements of consumers, modification of service, and so
on.

SEVEN STAR BOOKSTORE’S PRODUCT & SERVICES

The negotiating strength of customers turns into a higher because both of the printed books & E-books didn't
have distinction when equate to other products, however it crucially relies on the story or learning inside the
books. As an example, By Jean & Giuditta (2012, p.13) stated that, “In 2009, UK marketers sold a calculated 763
million books, having an invoiced worth of £3,053 million”. Moreover, the interest of buying books is difficult to
predict. While the negotiating strength of sellers is lower due to books are common products, they didn't need
to have a top level of service once equate to generating iPad. The risk of newcomers is reduced because it takes a
large amount of funding for launching book stores along with shipping books from different countries.

MARKETING FOR SEVEN STAR BOOKSTORE

Greg & Mark (2010, p.124) said that, “entrepreneurs will not consider every group, but exactly the populations of
great interest into the product”.

Now relating to the marketing plan, our target marketplace is students so we focus on students and offer a
variety of facilities based on their demand & needs, such as buying or selling of printed & ebooks. We give 15%
discount to the consumer & offer coupons to the consumer for attracting toward the store. We'll create E-
service named ‘sevenstarbookstore.com’ by offering advertisements in regional newspapers, magazines, and etc.

 Advertising and Promotion

Serving out your task for free is questionable, so avoid questions we promote free gifts like free sections, free
signed versions of books, & discounts. We offer a number of books, in addition to carrying out the cafe or
further services of surprise vouchers to attract consumers. Moreover, we provide online purchasing to take to
the online bookstore.

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The Bookshop Marketing Essay by (www.businesscasestudies.co.uk , 2014) express about,

 The web site (www.sevenstarbookstore.com)

The bookstore’s website can create the key success for our book store business and can give most price benefits
required to take on a classic and online bookselling. Online will need standard SQL, visual style and programs
to process scripts in order that consumers can send the order.

 Payment criteria

Marketing about flexible & secure payment mode via online, and in addition control the credit card transaction
too. In case of a low credit score is gotten, the consumer is called and requested to provide another credit card
for payment.

 A Customer Service and Public relation

Give attention to fulfil orders of consumers. Whenever ebook purchases are going to be set, a sudden motion
should be taken by the operational team. A courier team will get a message every time whenever consumer
orders. They process the order through getting the product, packaging, and delivering it straight to the
consumer’s home immediately. Some courier agencies could hire for this function.

In creating relation by the consumers, present yourself acquire to recognize the author, editor and recent
innovation discoveries for running an independent bookstore. Consult with a category specialist furthermore
inquire about popular books assess blogger websites for serving the customers potentially.

SALES AND OPERATIONAL BEHAVIOR IN SEVEN STAR BOOKSTORE

 SALES

The bookstore obtains the sale of books, media, electronics, and common products. For non-retail tasks like
seller sites, credit card contracts and various advertising and marketing activities. The E-books, E- journal, E-
Article, E- newspaper, E-magazine, Digital maps, and Computer software, etc. can be sold out through our
bookstore.

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A general survey by (www.publishers.org.uk ,2014) explore, “The sales of books rose 4% in 2012 to £3.3bn with a
66% increase in digital sales offsetting a 1% decrease in physical book sales”.

 THE OPERATIONAL PLAN FOR BOOKSTORE

According to Brian (2013, p.47) stated, “There are two reasons why operations needs

 Competitive advantage depends running the day to day business.

 How your business works”

It is hard to identify what precisely to be a part of the operational part of the business plan because most of the
operational strategies relies on the type of business itself. Hence, the operational performance actually
foundation of the strength of a bookstore that helps the administration to sustain the competitive advantage
and improve the store's efficiency, then we turn into more effective. Our major reason is liquidity, cash
generates from operations.

SALES ESTIMATION IN SEVEN STAR BOOKSTORE

According to Brian (2013, p.79) expressed, “The inflation and rise in the overall economy might estimate aspects
that generate your monthly income”. Well sales forecast runs through the profit-and-loss accounts while the
funds forecast too. Here, of course, you continue to have to place your prices in.

The exact estimate of sales is quite hard to evaluate before launching the store. By (www.store.mintel.com
,2014) shows that, “Although the vast majority of book editors were quite small enterprises having less staff and
turnover of lower than £0.5 million, E-book sales are calculated to be the same as 1-3% of print book sales and
increasing quickly in 2010/11”. A few near factors are often as follows:

Direct Costs or Costs of Sales: such costs get straight from the product prepared for sale, like: a price of
products, manufacturing staff for the bookstore.

Staff Cost: Work, in depth from root level. Amount of staff, compensated exactly how much and don’t neglect
payroll duty and include the illness and vacations cost.

Property Cost: This consists of lease and service charges and a real estate tax of the bookstore.

Finance Cost: contains attention, although the payment of loans or banking costs.

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SEVEN STAR BOOKSTORE FINANCIAL DESIGN

In the initial levels of beginning the bookstore,

 Dialogue about Monthly Cashflow Declarations

Due to the effect of start-up expenses within the first 30 days of activities, incomes will receive in the 2nd Month
may not be sufficient to keep a beneficial money balance. Hence, we need £1,000 for an operating loan for
investor or bank; such loan will be paid-in whole by 6-Month period.

 Dialogue of Projected Yearly Cashflow

Due to a growth over supply and maximum sales, money expenses in Year 2 will be, operational loans by entire
is £15,000 will be necessary to guarantee great monthly cash flow. Each product, operational loans and interests
will be paid-in whole of the 1st month of the 3rd year. No operational or product loans are needed in the 3rd
year of the bookstore. While no loans have to pay after the 1st month of the 3rd year, a final cash balance will
maximize greatly.

 Dialogue about formal Balance Sheet

Existing investments like funds and stocks continues to boost as income keeps on increasing. While the
building and products are rented, the bookstore online service will be created along with operational loans.
Except the past-mentioned products and operational loans, each financial obligation will be paid as it is due.

STRENGTHS AND WEAKNESS IN SEVEN STAR BOOKSTORE

A strength is an “internal great factor which can manageable upon which you might capitalize in planning”, the
statement by (www.quintcareers.com, 2014).

For learning strengths and weakness, The bookstore is a recently came into the market, which has not existed in
the current market before.

 Since the bookstore is a new one, the plan and which way of growth is quite flexible, which could give a
quick response to any market variety.
 The store must provide really good and professional customer services.
 Provide cost effectiveness to convenience the customer to buy.
 Post sales service of informing customers about new products & new auctions.

For weakness (www.quintcareers.com, 2014) explore that, it is “internal downside factor is that our business
under in your control and you might improve the plan if it is not in control”. The store has no market position
or reputation before. It might be unsuccessful to take the maximum interest as supposed. Manufacturing
capability can only fit into the beginning market and could undergo into the growing market.

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FINISHING SUMMARY ABOUT SEVEN STAR BOOKSTORE,

The conclusion describes the review the planning and uniqueness of the bookstore. The store’s entrepreneur
had the ability to examine the business conditions and also the consumer requirements. Therefore, the
entrepreneur had to know to agree the investor to open the bookstore at reasonable place for students & others.
However, the electronic type of books in the market has become changed the advanced type of market, that
includes online techniques utilizing into the book market to bring closer between the readers and the editors.

Wayne, Terri, & Barbara (1997) stated, “Bookstore's strategical way, including management participation within
the organization because of earning desires. Policy for restoration of establishments you need to include a store
developer during the initial level of planning, build and formulate a strategy for the staff sequence, create an
open-to-buy strategy about your products for customers from every field”.

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