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BUSINESS PLAN
HISTORY
We’re starting from scratch, we have no relevant basis of society. We have made a
good start in promotional activities. The first activity was used teaser campaign.
With the passage of time, we have moved away. We are launching the new product
in market, in starting we used equity in the business and contract some vendors
they agreed to sale our product on credit base. We have enough skills to run the
business in start and also have experience about market. We are clear about this
that all we are capable to take initiative to start our business. We have also advice
support.
Purpose of Business
Our purpose of business to identify the problem of customer need and solve their
problem. We introduce the ‘TYRE SEALENT’ in the marketing. We develop this
business plan and we also use the strategy of the business and market analysis with
the competitor and we promotion of the product and we compare the performance
of the product with other alternative product and we developed the budgets
calculation and also price and profit.
Vision
To create new value, excite and delight our customers through the best
automotive products and services.
MISSION
We are going to launch a new product in market; the product is Tyre sealant with
unique features.
Product Differentiation
Our product is different and unique, Tyre Sealant is an advance
of chemical solution specifically
designed and formulated to seal the
hole directly in the commercial area of
a tire rotating tires there for the
elimination of the problem of tyre
Deflation. Its helps the car driver they
don’t need to worry about the tyre
puncher and solving the problem of tyre
preacher. We also give other services, lineament of tyre and wheel balancing.
SWOT ANALYSIS
Innovative product
Unique features
Solving the problem
No direct competitors
Product guaranteed
Others services
WEAKNESS
OPPORTUNITIES
THREATS
INDUSTERY ANALYSIS
GROWTH RATE
Despite a strong industrial growth the tyre industry of Pakistan could
hardly meet 12 to 15 % demand and the shortfall paves the way for the
international tyre companies in Pakistan. Apart from vehicles population the
dilapidated condition of the roads stand was another reason for high incidence of
tyre consumption in Pakistan.
Tyre technology at international level has expand that not only for every nature of
vehicle a separate tyre is designed but also two to three kinds of tyre are designed
and manufactured for one nature of vehicle depending of its use. For one vehicle
two to three type of tyres are manufactured internationally which are
recommended for nature of use of vehicles.
There is no definite statistic of tyre consumption in Pakistan, a tyre importer said.
He said that there are many rough ideas about the import, local production, and
smuggled tyres. The government of Pakistan's department of statistic too has rough
ideas about the figures as tyre consumption increasing without any scientific
direction.
An importer said more than 50% tyres smuggled into the country. The smuggling
methods change according to situations at boarders. This must be a fact that why
no investors are establishing tyre manufacturing plants in our country although the
fact also remains on the record that Karachi, Lahore, and Rawalpindi are the part
of the country where more than six tyre manufacturing plants are badly required.
TRAGET ATTRACTIVENESS
We included different market in our survey and focus on our
target market, in survey we introduce our product to target market and collect the
data after we analysis the data and measure the attractiveness of the product, 75%
target market shows positive response and 10% shows negative response, because
they don’t understand the product and not interest to give the time 15%
respondents give the response in form of may be. Our main target market are
sellers but they don’t take risk so they suggest us that we sale this product on credit
base.
PEST ANALYSIS
POLITICAL
This technical association gives us a major edge over all other local manufacturers
and unknown brands coming from China and India in terms of quality, consistency
and reliability.
General Tyre receives all its raw materials strictly in compliance with Continental’s
given parameters from approved sources and follows construction patterns
approved by them. Over the years, we have also mastered the art of making tyres
that suit local road conditions, providing unmatched durability, safety and value for
money, that no other tyre can claim. We are extremely proud of the fact that
statistics show that General Tyres has minimal or no record of tyre bursts on fast
tracks such as motorway and highways. We are the best for Pakistani roads and
that is the reason why all vehicle assemblers find us suitable.
Improvement in auto industry sales has a direct positive impact on our sales as all
major vehicle assemblers buy from us. The rest of the local tyre industry has so far
not been able to benefit from the auto industry’s growth as their tyres have not
been patronized by vehicle assemblers due to the quality that is needed by the auto
industry.
The local tyre industry enjoys approximately one-third of the market share.
Smuggling and under-invoicing together account for approximately two-thirds of
the market share. This is a menace. Not only does this undermine the efforts of the
local industry to provide employment, save foreign exchange and improve local
investment, but is surely putting a huge dent in the national exchequer by way of
taxes and duties that are evaded. These evasions run into hundreds of millions of
rupees every year. Other local industries are also affected due to this uneven
playing field.
Pakistan should be open to trade with India as long as there are rules pre-set
providing a level playing field. Like India, Pakistan too has a lot of products to offer.
Pakistan also has a clear advantage in this case as India’s population is five times
that of Pakistan – meaning more consumers on the buying front. Pakistan should
also capitalize on the areas where India has excelled. Using India as a training
ground could bring lots of benefits, particularly on the technical and innovation
front. The tyre industry in India is huge and advanced compared to the industry in
Pakistan, and a lot can be learnt with mutual cooperation. This type of cooperation
might also open doors for future investment in Pakistan in the long run.
ECONOMICAL
Pakistan is facing Economic challenges. It shows that our country is in the list of
under developed countries. In the last budget, the government gained 4.3 per cent
economic growth but with gas and load shedding problems they didn’t achieve the
targets. So due to lake of experience and knowledge they came of 2.2 per cent
growth which shows almost no growth in the current year. The major problem in
Pakistan is increase in population which is directly effecting our economic growth.
Of course, due to higher rate of population, we should increase our investments
but due to less financial reserves this investment is not possible. The present rate
of GDP is around 14 percent which is lower than the developing countries. If we
want to increase our investments for getting higher growth we should increase our
savings for GDP to at least 20 percent, especially when foreign investments are not
involved.
Another challenge is inflation. Inflation means increase in the prices of commodity.
It badly affects the salary based groups. This also shows our higher rate of taxes
because tax is part of the inflation. When inflation rate high in our country then it
generates the public debts, which is about 70 percent of the Gross Domestic
Product. This problem is increasing day by day. So how we can overcome this
problem? The answer is we have been producing less and consuming more. And if
investor wants to invest so they should invest on human developments.
The major problem is immediate change in the situation of regional and
international market. Utilities such as gas, electricity, water is another cause of a
problems because IMF forced to the under develop countries to enhance their
rates which is effecting the common man or salary based groups. They don’t save
much in fact they just fulfill their basic needs.
SOCIAL
Consumer behavior and life style are changing rapidly. The advancement of
technology and the wide spread of media has captured the mind of the people to
a great extent. More than half the Pakistani population is about a quarter of a
century old. It is now or never. We have such huge potential of energy at this point
that we need to take hold of and put to use for Pakistan’s prosperity. We talk about
the youth being Pakistan’s future however, they are not only the future they are
the present. We are now!
Sure, we need the proper infrastructure, electricity and support facilities to
accomplish our everyday goals and prosper. But the first thing all Pakistani’s need
to change is our attitude, towards hard work and in general towards each other.
The people of Pakistani is life style is very fast they adopted the culture and fashion.
There is a trend in Pakistan to purchase the new and unique product.
TECHNOLOGICAL
The technology in this field is very slow and process of tyre repair is old the world
is too fast and introduce new method. Create new product and method in Pakistan
some sector are too slow in technology.
PORTAL ANALYSIS
Threat of Substitute
We introduce innovative product, mothed of tyre repair is old if
someone introduce the substitute that can be very series problem so we can
offering the best deal like wheel balancing lineament, with minimum price we also
offering free service.
LONG TERM PROSPECTS
As the increase in production and sales of automobile in Pakistan
which shows increase sales tyre, this indicate the profit of potential in the business
and also the future growth. Our product have new feature so people buy our
product, people don’t need to worry about the tyre puncher or flat.
MARKET ANALYSIS
The market strategy analyzes the target market, market trends, market size,
advertising, and price. We give the brief description about market analysis.
Our target market is the group of customers that are car driver. We also aims to
sell the product to dealers and in tyre outlets. This product especially for car tyres
we targeted the drivers. We are also contact with the transport company to use
our product and give us the feedback. We focus different type of customers so it
helped to make the strong link in the market.
The customer will buy our product if he know about our product and also know
that if he use this product he can save the money and free tension. In begging we
use capitalize advertisement of our product in different places. Once they know
about the product they purchase the product.
MARKET TRENDS
This technology is new in market and does not have direct competitors in market.
It seems that there is high potential of profit in this market and a huge market for
upcoming competitors. In the induction of tyre sealant technology in the tyre
market, the growth rate seems to be increasing rapidly creating high profit margin.
It is very difficult to capture the market of tyre, it can affect our margin and also in
sales in beginning. So in starting we sale the product our relatives. We sale on credit
base so we can stabile in market.
BUYING BEHAVIOR
In buying intention survey, respondents show their interest in having tyre sealant
and shows satisfaction in our product. Tyre market trend increasing phase, it will
take time for absorbing tyre sealant technology. The research revealed that
respondents are willing the buy our product and appreciated the idea.
COMPATERNER ANALYSIS
Direct Competitor
Our direct competitor is local tyre shops they sale repair tyre and
55% customer purchase the tyres in local shops they also give the fecality to repair
the tyre so if they also introduce the tyre sealant it can be big threat for our
business.
Indirect Competitor
Our indirect competitor are outlet of tyre shop which deal direct
the companies and having strong links in the markets it can be threat for our
business.
Future Competitor
PRODUCT
Feasibility products include product design and delivery of their product .our
customer clearly defines that it is beneficial for those who drive the car. Tyre
sealant features solve the problem and according to customer need and there is no
product in the market which provide all features. Product feasibility includes these
following features which improves the product image among the customer.
Product Strategy
The desires of the customer, the product purchased are of better quality and
performance. So as an entrepreneur we provide innovative feature like, leaking,
puncher, flat, our product ‘’Tyre sealant’’ Tyre sealant is an advance chemical
solution specially formulated and designed to fill the hole quickly in the area where
the tyre got puncture. Product strategy includes following types.
Product quality
Brand name
Product feature
Services and warranties
We are providing the 1 month warranty which is claim we are serving the best
quality and service. Concept testing recognizes the importance of creativity,
research, and the concept of aging involved in developing the concept. We believe
our research philosophy concept of experimentation is what differentiates from
most other firm’s market research. These principles guide our development
projects, the concept of the study and experimentation.
Our main focus on customer safety so in this purpose we will use high class quality
of material because our main objective is to provide maximum safety to car drivers.
So we introduce this product to solve the problem.
PRODUCT PROCESS
We are not making the product we import the product and after the time pass we
make the feasibility to make this product so we can minimize the cost and increase
the revenue.
PRICE
We are offering the best price to the customer with low margin and give best
quality and service. Our product is different according to size of tyre the standard
tyre size 13’’ and price of sealant R.s 8000 for 4 tyre. The cost of sealant gallon R.s
24000 included all expenses, 1 gallon fill 16 tyres. The price will different for dealer
we offer R.s 28000 but they also give the customer in same price.
PROMOTIONS
To make the people aware about the alternative resources that they have.
To position ‘’Tyre sealant’’ as the No.1 choice for all.
To establish brand image and earn profit.
PLACE
We starting our operation from Fasial Town Lahore. The location of the business is
very favorable for us and here we can take many opportunities and benefit. We are
new in market and have no past history so there is no previous data available to
measure and to forecast the market trend or demand.
SALES STRATEGY
We sell products mainly from the release of the company and tyre dealer retailers.
There will be an online store page that presents the company's products and any
optional accessories. There will also be a page that describes the characteristics of
products and specific features. Our outlet located in Fasial Town Lahore. We import
the stock in warehouse and easy to keep.
Market risk is the risk that the market will develop differently than expected.
Sometimes markets take too long to develop, and cash runs out while a
company is waiting for customers.
If our company does not meet its target of the forecasted sales (services)
then it would increase the price of its services in order to reach its breakeven
at least.
Financial risk is the risk that a company will run out of money or mismanage
their money in some way. Finance companies may have huge financial risk,
since bad lending policies combined with poor investment policies can sink
them.
If all the business receives a big loss it will cover that lost by the help of all
the members combined effort.
INTELLECTUAL PROPERTY
We applied to all that is necessary for the intellectual property rights of patent and
trademark copying ' tire sealant ' in order to prevent bad intentions from copying
our ideas. Under the law of Pakistan no one is allowed to copy any of the
trademarks or illegally use our services In that case, we will be protecting our data
by taking protective measures.
OPERATIONAL PLAN
BUSINESS LOCATION
All marketing operation is perfume by Mr.Umair Ch, we are not
hiring any sales marketing manager and he take order from different dealers and
deliver the order.
We select the location our outlet in market so the transport cost will be less and
saving the time.
LIST OF ASSETS
S.NO ASSETS QUANTITY PRICE
1 BUILDING ADVANCE 80000
2 FURNITURE 35000
3 LCD 1 25000
4 SPILT AC 1 36000
5 LIGHTS 25 12000
6 FANS 3 10260
7 ADVERTISMENT 40000
8 CASH IN HAND 25000
9 STOCK 15 375000
10 SIGN BOARD 1 25000
11 UPS 1 23000
12 FLEXS 30 13500
13 TOOLS 12000
14 WATER COOLER 1 9000
15 AIR COMPRESSOR 1 25000
TOTAL 745760
MANAGEMENT TEAM
Diversity in work
force
Health and safety
Recruitment and resourcing
Retention
Development
Leadership
WORKING OF HR DEPARTMENT
The HR department of our company will not be able to complete HR practices, the
human resources department would be a very important role in the recruitment,
remuneration and for our personal
health care play. Gradually, over time,
we shell be comfortable with the
formulating " environmental and HR
practices for our company.
A human resources department is a
critical component of employee well-
being in any business, no matter how
small. HR responsibilities include
payroll, benefits, hiring, firing, and
keeping up to date. The Department is
responsible for hiring members of staff; this will involve attracting employees,
keeping them in their positions and ensuring that they perform to expectation.
IMPROVEMENTS OF COMPENSATION PACKAGES
One of the main functions of the HR department is to
motivate employees. This can be done by rewards especially for those who have
done well. The Human Resources Department will be responsible for evaluating the
performance of employees and of those who have exceeded expectations be
compensated for their actions.
BOARD OF DIRECTOR
Directors take care of business of the Company and are in a position of trust.
Therefore, the law provides a number of tasks, constraints and duties conferred
upon the directors to prevent abuse. Much of the company's law to manage the
balance between Directors of the company's business to make a profit, and keep
them, to prevent this freedom they are seen. The directors are responsible for
keeping the books of account are kept.
The board of directors' key purpose is to ensure the company's prosperity by
collectively directing the company's affairs, whilst meeting the appropriate
interests. In addition to business and financial issues, boards of directors must deal
with challenges and issues
COMPANY STRUCTURE
CEO/MD
SUPERVISOR
WORK FORCE
FINANCIAL PROJECTION