Business Plan Examples For Students. Business Proposal Examples for Students. Also, Business Plan Sample pdf for Students. Business Plan Examples For Students Entrepreneurship PDF
Business Plan
A business plan is a written statement that explains a company’s background and business details. This plan includes the executive summary, the company, product and service, operations, marketing, and financial plans.
The employee develops a business plan to enhance the organization’s image among stakeholders, customers, and affiliates. It proposes a business strategy, explicitly detailing how the company profits and survives in markets. A business plan, also known as a business proposal, is crucial for corporate branding. The business plan is essential for every company to build rapport with stakeholders and business partners and to achieve competitiveness.
The key elements of a business plan or proposal are an executive summary, background, product and service, organizational structure, sales and marketing strategy, financial and operational plan, and more.
Business Plan Examples
A business plan example is a sample business proposal that thoroughly explains the business, including the executive summary of the financial statements. It is also known as a business report example or business proposal format. An example of a business plan includes the executive summary, operating strategy, start-up financial projections, and related components. The business plan example for students is also known as the business report format.
Business plan writing is a mandatory assignment for students in entrepreneurship. It is also a compulsory assignment for business students. The importance of a business plan is increasing as businesses sell products on digital platforms and manage operations virtually.
The business proposal is also required to obtain a bank loan. The organization requires it to enter into agreements with other organizations. The bank authority typically requires the organization to submit a business plan with the loan application. Other names for a business plan include business proposal, report, profile, and others. A business plan example is also known as a company profile, business proposal, sample, or format.
Elements of Business Plan Example
The Nine Components of a Business Plan are as follows:
1. Executive Summary It includes the overview of the business plan and its missions and vision. Additionally, this section explains the target market and competitiveness in market. Finally, it represents the summary of financial projections and funding requirements. 2. Business Description Detailed explanation of the business concept and its products/services. Identification of the target market and customer demographics. Discussion of the unique selling proposition (USP) and competitive analysis. 3.Market Analysis Overview of the industry and market trends. Analysis of target market size, growth potential, and segmentation. Examination of competitors' strengths, weaknesses, and market positioning. 4.Marketing and Sales Strategy Description of marketing channels and promotional tactics. Plan for customer acquisition, retention, and brand building. Sales forecast and pricing strategy. 5.Operational Plan Outline of the business operations, including location, facilities, and equipment. Explanation of the production process and supply chain management. Staffing requirements, roles, and responsibilities. 6.Financial Plan Detailed financial projections, including income statement, cash flow statement, and balance sheet. Break-even analysis and financial ratios. Funding requirements and sources of capital. 7.Implementation Timeline Schedule for key milestones and activities. Allocation of resources and responsibilities. Monitoring and evaluation plan for tracking progress. 8.Risk Management Identification of potential risks and challenges. Strategies for mitigating risks and contingency plans. Insurance coverage and legal considerations. 9.Conclusion Recap of the business opportunity and its feasibility. Call to action or next steps for implementation. Acknowledgment of key stakeholders and support network.
Business Plan Examples For Student Entrepreneurship
Today, the authors present an example of a business plan for students. They wrote it while enrolled in entrepreneurship courses at the Faculty of Economics and Management, Universiti Putra Malaysia (UPM). The lecturer sets group assignments; therefore, students prepare a business plan example to complete the assignment. Thus, this business plan or proposal example for students is certainly useful to business administration students. It also assists students in BBA, MBA, economics, finance, and business communication courses, as well as in research.
The author also wrote business plan examples for students about food and an Example of a Business Report.
The students set the company name “BambooS.” It sells reusable and eco-friendly bamboo straws. Straws are a unique product in Malaysia that can be customized for length and diameter. Besides, the company offers engraving services for customers. So, customers can customize a meaningful word on the bamboo straw for engraving. In addition, it provides a designed pouch for our straw that is aesthetically pleasing.
Business Plan Example For Students
1.0 Executive Summary Of Business Plan
BambooS Sdn. Bhd. company was created by a group of 10 students in the Basic Entrepreneurship course. This company is named BambooS. It produces and sells bamboo-based products. The capital “S” in the company’s name stands for “straw”. The original idea came from a student. We selected bamboo as the primary material for the products. Currently, we focus on producing eco-friendly straws to serve our customers. The products are high-quality yet affordable straws.
Our product is also biodegradable as it is made from Bamboo. We also guarantee that customers can use our products many times. It is reusable, easy to wash, and carry. The straw size is customizable. Customers select the size based on their preferences. In addition, our specialty extends not only to our product but also to our packaging.
There are ten members in a group, and each member will contribute RM 100. The total paid-up capital is RM 1000. We set up our warehouse in the Serdang area to produce, package, and store our products. We are manufacturing the straw in accordance with the customer’s specifications. For marketing, we are promoting our product through social media platforms (WhatsApp, Instagram, and Facebook) and e-commerce platforms (Shopee). We adopt the Lean Canvas business model canvas to assess the business outcome.
2.0 Background of the Company
2.2 Company Overview
2.3 Vision And Mission Statement
2.3.1 Vision Statement
To become the most notable company in Malaysia for producing eco-friendly bamboo straws.
2.3.2 Mission Statement
We aim to satisfy customers with our eco-friendly products. We aim to reduce pollution by using reusable straws everywhere and at all times.
2.4 Keys To Success
The Keys to Success for BambooS Include the following:
| Reputation: | We will always keep in touch with the customer to collect all the feedback on our product or service so we can improve to reach the customer’s satisfaction |
| Superior Customer Service: | Additionally, management assists customers in customizing and selecting the optimal straw size based on their preferences. |
| Location: | Moreover, BambooS delivers products all around Malaysia. |
| Product: | Finally, the products are highly reusable, affordable, and environmentally friendly. |
Table: 4 Keys of Success
2.5 Organizational Chart
3.0 Administration and Human Resource Plan
3.1 Business Strategies
Business strategy is crucial to maintain business growth.
The personal preferences of corporate management do not influence good business strategies. We emphasize every department’s function. It ensures the plans run smoothly to meet goals. We need to achieve them. We have placed equal emphasis on the efficiency of each Department.
Our company has developed several strategies to achieve its objectives. However, these strategies have been developed based on each department’s recommendations.
a. Administration and Human Resources Department
- The administration and human resources departments monitor all business operations. It manages employees’ and management problems.
- It also addresses problems that affect people management programs over the long term.
- Moreover, it follows the five-gap model of service quality to ensure service quality.
b. Marketing Department
- This department handles product marketing and promotional activities to reach a large number of potential clients.
- It also promotes an organization’s business and mission through social media.
c. Operational Department
- This department ensures that all equipment and materials are ready to ensure smooth operation. It ensures that all products are of good quality. This department follows the eight principles of TQM to ensure product and service quality.
- Additionally, this department bears ultimate responsibility for profit and loss and seeks to maximize shareholder return on investment.
3.2 Management Team
3.3 Job Descriptions
4.0 Market Plan
4.1 Introduction
BambooS Sdn. Bhd. Support the “Save The Earth” campaign by producing eco-friendly Bamboo straws. These straws are environmentally friendly products. Therefore, these products are alternatives to plastic straws. The government has imposed restrictions on the use of plastic straws. They also create social awareness of the use of natural products.
Hence, it is an important driving factor of our market strategy. In addition, surging demand for beverages, including juices and Boba drinks, and the Save the Turtle campaign are also propelling demand for bamboo straws worldwide. Bamboo straws are reusable, healthier, more durable, and more robust than plastic straws, and they are an environmentally friendly product. The products will help mitigate global warming and prevent climate change.
4.2 Objective of Marketing
Our objective in producing Bamboo straws is to encourage consumers to use natural, eco-friendly products. Why are bamboo straws better than metal? First, bamboo is a natural resource. So it is naturally sturdy and easy to collect. We do not need to use chemicals to make straws.
Additionally, metal straws are less pocket-friendly than bamboo straws. Moreover, metal will rust when in contact with water and oxygen. Bamboo stock is much cheaper, requires less labor, and is easier to collect. Our marketing strategy will focus primarily on reusable principles, which are more popular among younger consumers, because we offer an engraving service to attract them.
4.3 Analysis of Marketing
4.3.1 Market Trend
The demand for bamboo straws has increased due to heightened environmental awareness. Additionally, plastic straw use has declined due to state restrictions. However, the bamboo straw market is expected to experience rapid growth in the near future. In addition, BambooS Sdn. Bhd is a unique company in Malaysia. We produce our own straw and provide assurances of safety and hygiene. The buyer can engrave their name on the straw. Currently, customers seek recognition for what they buy or support. They are also sincere about ‘Save the Earth’ and deserve to flex.
4.3.2 External Environment Analysis
Our first demographic, psychographic, and geographic target market is the University Putra Malaysia (UPM). As UPM students, we have easier access to our target customers, including students and staff. Students tend to bring their water bottles or flasks to classes. It is one step toward environmental sustainability; thus, we support their efforts by selling bamboo straws. In addition, we will promote our product in the faculty and library cafés and food courts. We also establish a booth at super shops.
4.3.3 Internal Environment Analysis
(SWOT ANALYSIS)
4.3.4 Market Opportunities
Our bamboo straw comes with a pouch; thus, it is hygienic and easy to bring everywhere. We also provide a small brush to ensure deep cleaning of the inner straw. Our product can be reused repeatedly. So students and staff can save money. They do not need to bring straws in large volumes. The structure of our bamboo straws is strong and sturdy; thus, they will not break if soaked in water for a long time, unlike paper straws.
4.4 Target Market
4.4.1 Segmentation
Size
- S size is fit for ordinary drinks, fully liquid
- L size is suitable for a Boba drink or any drink with a topping.
Usage
- People use straws to drink tea, juice, frappuccinos, and Boba.
Industry
- Restaurants, cafes, food court, canteen, food stalls, super shops around UPM
4.4.2 Consumer Market and Buyer Behaviour
(i) Students and staff at UPM
(ii) Cafe and Restaurant at UPM
4.4.3 Positioning
- New business strategy for eco-friendly products in the market.
- Our production, processing, and packaging materials are zero-pollution.
- Providing engraved service
- Customized and Eco-friendly bamboo straws of different sizes
- Made of organic material
- Unique punch made by the jute bag.
4.5 4 P’s Marketing Strategy
4.5.1 Product Strategy
To make our product unique, we ensure the quality and safety of our products always satisfy our customers.
Packaging
Our product comes neatly packaged in a unique, eco-friendly pouch. It is made of a jute bag. The natural bag is designed to encourage the use of bamboo straws every day.
Labeling/Customised
Our company provides customized products. We resize and engrave the bamboo straws to attract more customers. Our customers can request any size and imprint their straws with any logo or design they prefer. Our product is available in two sizes: the regular size for a standard, fully liquid drink, and the large size for a boba drink or a drink with a topping. Customers can post their logo or name on social media platforms. Personalized bamboo straws look fantastic across social media.
4.5.2 Price Strategy
Price is the amount of money paid by one party to another for goods or services. It is necessary as it determines our profit and business survival. Two factors affect our pricing strategy to increase our profits. The internal factor that affects our pricing strategy is production and management costs. At the same time, the external factor is the competitive environment.
Our management team decided to sell the straw in four sets: A, B, C, and D. The company set the price at RM 10.00 for set A. This set includes the common Bamboo straw, brush, and pouch. Then SET B cost RM 12.00, including the Boba size straw, brush, and pouch. SET C and SET D are more special because they include the engraving service. The engraving cost is RM 8.00 per set. As noted previously, we resize products for clients. Our customers can request that the straw be resized. We charge it costs RM 9.00 per set.
4.5.3 Place Strategy
Place strategy, also known as distribution strategy, is the process by which an organization determines the mode of distribution for a product. Pacing strategy plays an important role in product sales. We have selected the market, café, or restaurant adjacent to Universiti Putra Malaysia. Our main target market is UPM staff and students.
Furthermore, we decided to make it easier for our customers to find our product by using the Shopee shopping app. We selected these apps because Shopee is the best option if you want to start selling online at a low cost and make substantial money.
4.5.4 Promotion Strategy
Promotion is the process of advertising to inform different parties about products. It is a communication process that influences customers to purchase products. To get customers’ attention and obtain a more significant market share, Bamboos Sdn. Bhd uses digital and internet marketing.
We have set up social media accounts, Instagram, Facebook, Shopee, and Blogspot, to promote our business. The marketing team will post the promotional content on social media platforms. This is because most people spend most of their time on social media sites. With that, social media sites are the easiest way to buy anything we want without going out. Moreover, online shopping has become popular in this era, and social media platforms have become the most prominent sites, especially Instagram, which has a high advertising rating. Many companies use social media to promote their products and services by posting corporate information on their accounts.
Social Media Advantages
Social media platforms are free sites through which we can reach a large number of customers. Hence, we use social media to do hard and soft selling.
We fully develop every post to attract customers. In addition, we will always update our posts and story feeds. We ensure that customers are more exposed to our product. Next, we also use social media hashtags. We use hashtags such as #Bamboos, #SafeTheEarth, and more to make it easier for customers. The marketing team uses social media for the ordering process.
Similarly, we will post the generated links on each social media platform to encourage product ordering. Our company also ensures transactions with our customers are straightforward. Finally, we also produce videos to promote our sales. The video will achieve the highest social media reach, views, and engagement.
We tend to focus more on WhatsApp groups, Shopee, and Instagram since our target audience is UPM students. Many students are members of WhatsApp groups, including those related to faculty, the college, hostels, and clubs. WhatsApp and Instagram are more popular among students as the places they spend most of their time. WhatsApp is the most popular social media site in Malaysia.
5.0 Operations Planning
5.1 Location and Address
We will primarily sell the straw through social media platforms. The production team will handle the production process. They resize and wash the Bamboo at the warehouse in Selangor, Malaysia. The social media sites are Instagram, Facebook, Shopee, Blogspot, and WhatsApp. Supplies will be delivered directly to the responsible members for further processing in accordance with our buyer’s order.
5.2 Objective of Operations
We aim to produce and deliver high-quality bamboo straw. Our team ensures that all products are effective and attractive. We must also earn customers’ trust and satisfaction with our service, including pricing and delivery. We also make sure our products are cleaned and safe for use. Our team is highly responsive in producing high-quality straws. In addition, our company has ultimate responsibility for profit and loss. However, we seek partners for more investment.
5.3 Operation Strategies
A few strategies have been set up to ensure that our business runs smoothly throughout the week and meets our objectives.
5.4 Supplier
The bamboo stock was from a supplier via the Shopee platform, and the pouch supplies were from Giftstalk Sdn. Bhd. The company logo’s printing service was also included when we ordered the pouch from the suppliers. Moreover, we ordered coconut fiber cleaning brush stock and packing Boxes from Shopee. We also surveyed purchasing and made sure that our supplies were reasonable. All supplies are ordered online and delivered to our company via specialized courier services.
The bamboo straw will be customized and delivered to the customer via J&T Express, Ninja Van, or cash-on-delivery, to facilitate delivery.
Thus, we have decided on the following suppliers as our supply providers:
- Wing.DIY –Shopee- For Bamboo Stock
- GIFTSTALK SDN BHD- For Pouch Supplies
- Good. Pack -Shopee)- For Paper Boxes Stock – Sandpaper Holder with Plastic.
5.5 Process Planning
5.6 Implementation Schedule
5.7 Machinery and Equipment Including GST
6.0 Financial Plan
6.1 Introduction
A financial plan is a process of developing procedures and budgets for the financial activities of concern. This is done to ensure good financial and investment procedures.
Generally, the financial plan is used to assess an investor’s current income and future financial position by using known variables to predict future income, asset values, and withdrawal plans.
A financial plan is one of the most crucial parts of a business. Some of the importance of a financial plan are:
- A financial plan provides the direction of one’s business.
- It also helps understand how finances impact one’s business.
- Additionally, it helps manage income more effectively.
6.2 Purpose of the Financial Department
A few purposes are as follows:
- Firstly, it determines capital conditions.
- Secondly, it manages the fund effectively for various purposes.
- Finally, it maintains proper cash flow.
6.3 Project Implementation Cost
Source of Fund
Our money serves as the start-up capital, with each shareholder contributing RM100.00, bringing the total investment to RM1000.00.
6.4 List of Expenses
Twelve partners contributed a total of RM1000.00 to cover all business costs, of which RM617.29 was allocated. Expenses are incurred for the purchase of raw materials, equipment, and delivery fees. We will not invest the entire amount in the business.
The equipment is treated as a fixed cost because it is purchased in bulk. Refer to 6.4 (List of Expenses) for detailed information.
6.5 Record of List of Sales
6.6 Income Statement
After one month of operations, BambooS generated RM 1,600.00 from 7 products. This includes selling 15 units of Set 1, 25 units of Set 2, 35 units of Set 3, and 30 units of Set 4. Leftovers for bamboo straws are found. The income statement shows that the business’s net profit after one month of operation is RM 988.39, approximately 98.8% of the capital invested into the business.
6.7 Cash Flow Statement
The case flow statement shows that the initial capital on hand is RM 1000.00, and at the end of the business, the total surplus (after deducting all expenses) is RM 1982.71.
The RM 1982.71 includes RM 100 capital invested by every shareholder at the beginning of the business. By dividing the remaining funds after deductions, each shareholder would receive an additional RM 98.27. Hence, every
6.8 Balance Sheet
At the start of the business (22 March 2021), the initial capital share is RM 300.00. There is no liability, such as a loan.
At the end of 9 weeks’ business (22 June 2021), the cash on hand increased to RM 1982.71, as well as the owner’s equity. The firm’s net worth is RM 2,982.71, calculated as total assets minus total liabilities.
6.9 Financial Analysis
BambooS has a net profit margin of 61.42%. BambooS also has a break-even point of RM 126.50. Sales passing this break-even point means that BambooS can start making profits.
Set 1 has a break-even point of RM 11.90, and set 2 have it at RM 23.72. The break-even point for set 3 is RM 55.34, while set 4 has a break-even point of RM 35.58.
The interest for the business is 0.9827 or 98.27%. This means that for every RM 1 of capital invested in the business, shareholders receive RM 0.98 in profit.
7.0 Conclusion
Based on the business plan template or business proposal example we developed, BambooS will yield profitable returns. The assumptions we made over these three months are conservative, as we know that our company is still in its early stages and that marketing and promotion are in the early phase. The company sets systematic planning to reach the target. Thus, BambooS is confident that our company will grow and become the world’s most popular brand.
We will ensure that everyone in the company collaborates effectively to achieve the company’s profit target. We hope that BambooS will be the best company for producing eco-friendly straws in Malaysia. Our company assists UPM students and staff in reducing plastic usage.
Problem Faced and Solutions in Business
Every business will face numerous challenges to sustain success. As a new business, we must also face many challenges to achieve our business goals.
Firstly, we confirmed the product we would sell; everyone gave their opinions and ideas. This results in 10 distinct products and services on the list. So we need to vote for the best one. We had a constructive discussion on selecting the best product. After discussion, we finally proposed producing an eco-friendly product. We focused on global warming issues and finally decided to produce and sell bamboo straws.
Moreover, we must address a conflict in assigning vendors. We need to identify the most suitable vendors that offer the most reasonable prices for us to produce bamboo straws. The cost must be tele with our starting capital. To address this, everyone has conducted research on all possible suppliers until we identify the best option.
To avoid extreme market competitors, our team chose a blue ocean strategy to create a new market and achieve competitive advantages.
Business Proposal Examples For Students PDF
A business proposal is a short business plan. The business proposal describes the business process. However, a business proposal includes an executive summary, problem statements, a product, a financial plan, and a solution. The example of a business proposal for students serves as a guide for others to create a business plan. This business plan sample teaches how to write business plan assignments for students. Students might learn how to write a simple business plan and proposal.
The importance of a business plan is crucial to stakeholders, employees, students, and entrepreneurs. Additionally, the business plan example helps employees develop a professional business proposal.
