MKTM033 Bloom Season Business Plan Assignment Sample

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• Subject Code : MKTM033
• University : University of Northampton My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Management

The Entrepreneurship Report

Contents

Bloom Season.

Value statement

Target customer of the company.

Identification of first customer

Idea generation.

Market Research.

Product of Bloom Season.

Increase in demand of the product

Competitor analysis of the Bloom Season.

Market launch of the business.

Supplier and third party.

Members required for business.

Risk associated.

Cost analysis.

Test trading before the finalization of the company.

Legal aspects.

Business plan in tabular form..

References.

Bloom Season

Bloom season is going to sell interior plant pots for landscaping. It is a good opportunity for the company as the customers want to move towards sustainable greener environment. The company is going to sell interior plant pots to the customers so that whether the customers have space for gardening or not. They can hang the pant pots on the wall of their balcony or can even place them in the living room. The brand stands for blossoming home with green plants. The company can sell it through physical store or through online platforms. The business philosophy of the company is to make our customer feel great in their homes (Lazzerini et al. 2018). The company aims at creating beautiful surroundings with the hung plant pots as well as improve customer satisfaction so that a large number of customers get attracted to the brand.

Value Statement

The value statement of the company is to appreciate and care our clients who are thinking to take a step towards nature. We enjoy satisfying the customer and strive to improve their every day with beautiful plants. The company respect the individuality and strength of the employees who contribute in flourishing a blossoming season. The company consider the supplier and business partners as most important part of the company as it understands the importance of mutually getting benefits from relationships. The company accepts the new ideas and work for achieving them so that they can present something new every time and also maintain the quality products. The company sometimes use stewardship by explaining the importance of the plants in home. The company also promote energy conservation and waste reduction so as to become a sustainable greener company in the entire Singapore.

Target Customer of The Company

Since the new venture is going to be established in Singapore therefore all the Singaporeans will be the target customer of the company. The business structure of the company is solely based on partnership that is both the person will be equally liable for activities of the company. It is one of the most flexible type of the business structure (Velu and Jacob 2016). The company understand everyone loves plants and thus they are helping customers to bring plants close to them and help in moving ahead for sustainability in Singapore. I tried to picturise my idea so that the investors can understand how the idea will be launched in the market.

Identification of First Customer

Managers or Human resource department of the organizations would be our first customer. We have have chosen them as a route to market because they are the only ones who are going to lead ahead. If the workplace of the people will become beautiful they will also try to make their homes beautiful by hanging plants in their homes on walls (Fasbender, Van der Heijden and Grimshaw 2019). Our second customer would be the local residents who want to have plants in their home but because of less space, they are unable to place them in their homes. We have brought a solution for them by bringing hanging pots which they can hang ether in balcony or on walls of the rooms or living area. Starting with the niche group and then moving towards covering the entire Singapore with our plants is our objective and we will achieve it by targeting right people at the right time.

Idea Generation

I have completed business studies from the renowned university in Singapore. I did my academics there and later started working with the corporation. When suddenly one day I felt, this is not something that I wanted. I dreamt of having my own organization with my own team working to solve the real world problem. However, in spite of brainstorming a lot of times. I failed to come up with an appealing idea which has opportunity in the country. Since, childhood I wanted to become an entrepreneur. One day, I was admiring the beauty of nature sitting beside the lake. At that moment, an idea clicked my mind why not I must try to bring these beautiful plants close to people by helping them with interior plant pots. As soon as the idea tucked my mind, I started planning for executing it. I realised that these plants will even help in meeting the ecological imbalance created by AC, refrigerators and so on (Wandl and Haberl 2017). The idea instilled new enthusiasm. I planned everything in just few seconds like what should be the name of the brand, who will be my customers, what will it cost and so on. The main motivation to start this venture was that it would help in making the home greener and people close towards sustainability. The people with the plant pots can decorate their house on green themes. I had the idea but do not have the capital cost for establishing a venture in the country.

Before starting a new venture, it was important for me to understand the market and customer needs and about the product that I was about to sell in the market. I identified that the three are competitors in the market but none of them are selling it for interior home purpose. While researching about the plants I came to known the fact that green plants help in reducing the stress level of the people. It is very healthy to hang plants and I decided to pitch this for attracting customers towards my new venture. I used my knowledge and skills as for establishing a successful venture in the Singaporean market. The knowledge that I gathered in the academic was helping me out in the practical environment.

Market Research

The company is trying to cover entire Singapore for selling its exclusive product in the market. The people of the country are trying to make Singapore has a green country. It is possible by adopting sustainable and green products. Bloom season is working in this field. It is creating innovative products for green interior at homes. The company is even targeting hotels, restaurants, offices so that they can use the green hanging pots to decorate the place and make it green. The company Bloom Season fits in green marketing landscape. It comes under this category because when selling the company highlights environmental benefits that it will bring.

Product of Bloom Season

It has launched green frames for the consumers. These green frames will help the clients to water hanging plants whenever required without wasting time of the consumers. The buying behaviour of the consumer has changed. They are now looking for those products which are sustainable and green. It is because consumers are concerned about environmental issues. Air population, plastic in oceans, change in climate are some major environmental threats. These issues are making consumers to think and become kind to the environment. It is observed that hundreds and thousands of people in Singapore are purchasing socially responsible products. Bloom season is considered as hottest wellness start up (Diehl et al. 2020). I have chosen this area of market because I know how good it feels to walk in a woods barefooted.

Increase in Demand of The Product

We have grown on the planet Earth and we are so disconnected with it. Bloom Season is trying to connect people back with the soil and plants. It is identified that plants makes people happy. The sources found that hanging plants indoor helps in improving air quality and also increase productivity. It is due to these reasons the demand for indoor plants are blooming in the market. The company is just like nursery, the employees keep it clean and well lit. Bloom season emphasis on indoor plants that can be hanged on the walls. Bloom season in order to grow plants create a microenvironment where they can grow. Nurturing them add values to life and make people feel that they are doing something for environment.

Competitor analysis of the Bloom Season

Competitor-1

Competitor -2

Competior-3

Competitor-4

Market Launch of The Business

We are going to launch our business in the market by giving advertisements on local newspaper, televisions, distributing pamphlets, creating emails, podcasts and posting stories on Instagram and Facebook. If required, we will also give discounts on the first day purchase. The raw material that will be used for providing discount will be approximately of $1000 SGD

• Facebook and Instagram stories will not cost anything but if the event is to be launched in large scale then the ads for promotion will cost $200 SGD.
• Local new paper – advertisement on local newspaper will cost around $150 SGD
• Email marketing - It will not cost anything but the resource like internet facility, employees and so on.
• Pamphlets – The price of the pamphlets would be $500 SGD.
• Television ad- The ad for promoting about the launch of the business will cost $20000 SGD for a month.
• Planning for a flyer drop will cost $200 SGD.

Supplier and Third Party

Supplier are critical for a business. They can have a direct impact on the performance of the business. They are the one who influence the product cost and development of the company. Suppliers are the only one who provide raw material required for the business be it top quality soil, pesticide, instruments for ploughing, decorative pots and so on (Ivanisevic et al. 2016). There would be multiple suppliers of different things but for plantation purpose we will take supplies from O’green living or soil mix for the first 12 months. We will require plant seeds and soil for growing plants in the pots. The cost will depend on the quantity and quality provided. The alluvial soil will cost more than black soil and so on. The cost of the soil will be around $1500 SGD. Third parties required for the business are Airbus, Capital land, reports world Singapore, Airbus and so on.

Members Required for Business

Risk Associated

Cost Analysis

Since, it is a business plan for plants thus there is a need of farm land on the outskirt of the Singapore where 10 acres of land is available for planting different types of plants both floral and aromatic. These plants will enhance the atmosphere of the place where they will be hanged. Such a large land is required because it is a nursery based industry and thus the cost of setting up Bloom Season would be very high. The entire project will cost around $10000000. The land cost will depend on the area which is available for sale. The cost of per feet is between $6500 and 8500.

Test Trading Before the Finalization of The Company

I have carried out performance test trading so far for the business. I have been doing this for 3 months. The weekly breakdown was good and it resulted into insights that I can conduct this business on large scale. The best part about it was that I found customers were happy and excited. They wanted plant pots for third homes, office and so on. The sales on an average was $7000 every day which can be grew longer. The company performance was good and thus can be launched in the market. When I was conducting test trading I realised that customers are willing to purchase plant pots and they were happy to known that they can hang pots wherever they want. They will no longer have to find a place and can enjoy nature at its best at home, offices and restaurants. I found that consumer behaviour has changed in the past. People have become environment friendly. They purchase only those products that are sustainable. This change will mark the success of Bloom season.

Legal Aspects

Business Plan in Tabular Form

References for The Entrepreneurship Report

Baker, L.M., Boyer, C.R., Peterson, H.H. and King, A.E. 2018. Online opportunities: A quantitative content analysis benchmark study of online retail plant sales. HortTechnology, 28(4), pp.516-523.

Diehl, J.A., Sweeney, E., Wong, B., Sia, C.S., Yao, H. and Prabhudesai, M. 2020. Feeding cities: Singapore's approach to land use planning for urban agriculture. Global Food Security, 26, p.100377.

Fasbender, U., Van der Heijden, B.I. and Grimshaw, S. 2019. Job satisfaction, job stress and nurses’ turnover intentions: The moderating roles of on‐the‐job and off‐the‐job embeddedness. Journal of advanced nursing, 75(2), pp.327-337.

Graetz, G. and Franks, D.M. 2016. Conceptualising social risk and business risk associated with private sector development projects. Journal of Risk Research, 19(5), pp.581-601.

Ivanisevic, A., Katic, I., Buchmeister, B. and Leber, M. 2016. Business plan feedback for cost effective business processes. Advances in Production Engineering & Management, 11(3), pp.173-182.

Lazzerini, G., Merante, P., Lucchetti, S. and Nicese, F.P. 2018. Assessing environmental sustainability of ornamental plant production: a nursery level approach in Pistoia District, Italy. Agroecology and Sustainable Food Systems, 42(8), pp.911-932.

Pitton, B.J., Hall, C.R., Haver, D.L., White, S.A. and Oki, L.R. 2018. A cost analysis for using recycled irrigation runoff water in container nursery production: A southern California nursery case study. Irrigation Science, 36(4-5), pp.217-226.

Velu, C. and Jacob, A. 2016. Business model innovation and owner–managers: the moderating role of competition. R&D Management, 46(3), pp.451-463.

Wandl, M.T. and Haberl, H. 2017. Greenhouse gas emissions of small scale ornamental plant production in Austria-A case study. Journal of Cleaner Production, 141, pp.1123-1133.

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