Subject Entrepreneurship Business Plan.pdf

Executive summary Most cases of COVID-19 infection are due to close contact, not wearing masks.. According to experts from the World Health Organization WHO, wearing a mask can limit th

HO CHI MINH CITY UNIVERSITY OF TECHNOLOGY SCHOOL OF INDUSTRIAL MANAGEMENT

SUBJECT: ENTREPRENEURSHIP

BUSINESS PLAN

Lecturer: Truong Minh Chuong Class CC03

Group information:

2 Nguyễn Vũ Phương Duyên 2152480

August 18, 2022

Table of content

1 Executive Summary

2 Company Overview

3 Products & Services

4 Industry Analysis

5 Market Analysis

6 Target Market

7 Marketing/Sales Plan

8 Competitive Analysis

9 Management Team

10 Financial Projections

11 Financial Statements

12 Exit Strategy

1 Executive summary

Most cases of COVID-19 infection are due to close contact, not wearing masks Besides, the infectious group is defined as the social group that interacts a lot Female-to-female transmission is about 43%; while in men only about 10% The above analysis once again shows that the people's awareness of COVID-19 prevention needs to be further enhanced - especially in the context of the

complicated development of the disease in the country as well as around the world today And one thing that can be clearly seen is the COVID-19 prevention measures

that the Ministry of Health recommends to the community at the beginning of the epidemic season - including wearing a mask is absolutely necessary

According to experts from the World Health Organization (WHO), wearing a mask can limit the spread of some respiratory diseases Besides using masks, people need

to combine with other prevention measures such as: hand and respiratory hygiene and avoid close contact – keep a distance of at least 1.5 meters between you and others With the available information, medical experts emphasize that the human-to-human transmission route of COVID-19 is through close contact respiratory droplets Anyone who has close contact (within 1 meter) with someone with respiratory symptoms (e.g sneezing, coughing ) is at risk of infection Therefore, wearing a mask is one of the preventive measures to limit the spread of some respiratory diseases, including COVID-19

However, you do not necessarily need to wear a medical mask For healthy people without respiratory symptoms, just wear a cloth mask when going to crowded areas,

on public transport; Cloth masks can be washed, dried and reused For medical masks, only used in cases of contact, care for people infected or suspected of being infected with SARS-CoV-2 virus When taking care of or having close contact with someone who has symptoms of respiratory disease such as cough, difficulty breathing, runny nose, etc When assigned to self-monitor, isolate at home or visit, examine, treat treatment in medical facilities

The Ministry of Health said that wearing medical masks not as specified can cause unnecessary waste, scarcity for medical facilities, and create false psychology about safety and can lead to neglect other essential measures such as washing hands with soap or 60% alcohol hand sanitizer Furthermore, improper use of masks can compromise effectiveness in preventing transmission

2 Company overview

3 Products & Services

 Advan

tage

Avoiding close contact, maintaining good hand hygiene, and wearing cloth[28]

face coverings

Reduce the chance of spreading airborne diseases to others, and to prevent the breathing in of airborne dust particles created by air pollution

Provide some protection against the spread of diseases, and improvised masks provide about half as much protection

 Compare to the competition

Type Just have 3 layers of

membrane Have 5 layers of protecting

membrane:

Quality Using normal fabric Using waterproof

non-woven fabric layer

Structure The outermost layer

of waterproof non-woven fabric is followed by a layer

of dust-filtering, antibacterial cloth, then a layer of activated carbon and

Including breathable layer, activated carbon layer, electrostatic dust filter layer (PM2.5 fine dust), small dust filter layer, waterproof

non-ending with a layer

of moisture-wicking anti-mold

woven fabric layer

Price 200000 VNĐ/box

including 30 items

250000 VNĐ/box including 30 items

For production Deadlines for necessary measures

to be met 15/8/2022: Planning

15/10/2022: Have brief

information about needed material

20/11/2022: Finish idea and

marketing plan 21/07/2023 Import

necessary material and processes

20/08/2023: Finish importing

material, check the quality of

material and test sample of our

product

22/12/2023: Planning content

about products on social media to

raise people's attention

24/01/2023 - 24/02/2023:

Producing our product

26/02/2023 - 28/04/2023: PR

Planning 01/06/2022: Delivering

product to market 01/08/2022:

Revenue check

20/09/2022: Deadline for idea (draft) 28/10/2022: Finish marketing for product 5/12/2022: Finish production

01/06/2023: Delivering product 01/10/2023: Company’s revenue report

4 Industry Analysis

Businesses and analysts frequently utilize industry analysis as a market evaluation technique to comprehend an industry's competitive dynamics Small company owners may use industry analysis to identify the obstacles, disadvantages, and opportunities that their companies face, and then focus their efforts on building distinctive competencies that will provide them a competitive edge

Because the majority of surgical masks are imported into the America, they must be authorized by state law before they may be deployed To begin, the method for importing a surgical mask is outlined in Appendix I: List of medical equipment requiring an import license (according to Minister of Health Circular

No 30/2015/TT-BYT dated 12/02/06/03) Businesses must additionally apply for an import license under Circular 30 in addition to categorizing medical equipment When entering Vietnam, businesses with a Certificate of Origin from the exporting nation will be eligible for a reduction in import tax Although this is just a young company, the growth rate is about 5,5% in the last

2 years For the sales projections, we forecast sales and predict our possible share of the market by determining how many people in Vietnam use surgical mask and what they spend annually on the service

We also determine the key success factors: great employees, process, management, well-qualified materials, beneficial products for the needs of people and current situation For the long-term prospect, we will try our best to meet the goal annually, develop the expansion plan such as opening more companies and offices in other provinces in Vietnam and other countries

5 Market Analysis

The manufacture and usage of covid is becoming increasingly popular in most nations as the covid epidemic spreads Currently on the market there are many types of masks, such as: medical mask, paper mask, cloth mask, N95 mask,

pitta mask, gas mask, air filter mask You can also use it as a mask from laminated paper or a multi-layer cloth mask

The Covid-19 vaccine is safe and saves lives around the world But most vaccines do not provide 100% protection Most countries have not fully vaccinated everyone Scientists still don't know if the shots can stop the spread

of future SARS-CoV-2 variants Now, a systematic review and meta-analysis of medicines that can be withdrawn from pharmaceuticals, wearing a mask, social distancing and hand washing are measures that help limit a number of diseases

In particular, wearing a mask is the most effect Results from more than 30 studies around the world have been analyzed in detail, showing that the rate of Covid-19 disease when the mask is reduced by 53% and the social distance is reduced by 25 %

The medical mask is also a good choice because it is only used once, so it works

to prevent large particles of dust or crystals from entering the row and arrow However, with the advantage of convenience and low price, disposable medical masks are the first choice of people However, because they are used once and then thrown away, they are one of the major concerns for the natural environment However, the fact that each medical mask is only used once and then thrown away leads to dilemmas It is also easy to see medical masks lying

"rolling" everywhere, not only in concentrated landfills but also on sidewalks, roadways, crowded areas, causing loss of life When used once and discarded, if not handled properly, these discarded medical masks will be the cause of environmental pollution and the source of diseases because of bacteria, The fungus continues to cling to each layer of the mask's fibers Therefore, people should not abuse medical masks but can use cloth masks in daily life Thus, both protect your own health, reduce the risk of natural environment pollution

as well as limit the supply-demand imbalance in the medical mask market Furthermore, a wide range of fake goods with a range of prices are available on the market The public is confused about this; therefore, the government is

taking action to address it and administratively penalize the manufacturers and importers who are doing this without authorization

6 Target Market

Based on age: Both adults and kids use face mask to protect themselves from dust and certain viruses Babies, pre-adolescents and the middle ages tend to have weaker immunity from respiratory diseases For instance, according to the survey by Ministry of Health, the incidence of influenza is 20-30% in children while that of adults accounts for a half (from 5-10%) annually It should be noted that since the 3 figures mentioned have little financial independence (exception may happen in the case of the elderly), so adults, who are more financially available and concern about their parents, siblings and children’ health, are more likely to be the target customers of the product

Gender-based: Since both genders have no difference in demand for face mask, the objective will be aimed at both men and women

According to location: The first place that comes to mind is a large city A large number of individuals will be interested in the creation and selling of face mask owing to how crowded and vulnerable a major city is to disease outbreaks Our product will, however, be distributed to more rural areas, but the market share will be lower than the urban areas due to the lower demand and the habit of reusing face mask

7 Marketing Plan:

To increase customer order frequency, you'll need a specialized marketing plan We'll run through some marketing plan

Firstly, we use online Platforms, we analyze the data of which social media sites they frequent use Running an ad campaign on Facebook if the target demographic is Instagram-obsessed teens The most efficient way of online marketing is starting with YouTube, since 1.9 billion logged-in users visit the site every month Furthermore, websites with the most basic and easy-to-use shopping features design, as our clients are primarily adults and the elderly Shopee, Lazada, Tiki, and other famous e-commerce sites are also popular for buying and selling

In addition, Blogging is a useful method that well-written content is what makes a blog that can actually drive sales A great blog will improve your SEO and SEM efforts by improving the rankings of all of your pages, not just your blog posts That means your product pages will be more visible in search results when customers are ready to buy from you We can hire some bloggers to write about our business

Finally, Search Engine Marketing (SEM), SEM is basically the paid

alternative to SEO, in which you’d pay to place an ad at the top of search results for certain keywords SEM is the only option on this list that isn’t free, but it can be a worthy investment: SEM comes second only to SEO in terms of effectiveness, and it requires much less technical knowledge to implement It’s also a fast way to give our brand and products a web presence, which is invaluable since digital ad spending surpassed TV for the first time in 2017, and we’re only getting more tech-obsessed

8 Competitive analysis:

The global surgical masks market size was estimated at USD 3.9 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 10.5% from 2019 to 2028 The growth of the market is expected to be driven by improved healthcare expenditure as well as the increasing significance of respiratory protection in the healthcare industry, particularly during the

COVID-19 pandemic

Based on a specific demand: This led to a small portion of the entire market but would undoubtedly result in big earnings for us

9 Management team:

Half of us have a foundation in Chemical engineering and technology which is helpful in material’s classification and selection by coming from the engineering university, so that we can take it easier in fixing limitations and quality improvements

Although none of the founder and co-founder’s team are come from economic major, we will invite the economists with experience in formulating strategies to increase profitability for the company, a background in economics, seniority in the organization's business strategy

10 Financial projections

Revenue (in 1-year projection)

Non-sales income 2.000.000 VND

Expenses (in 1-year projection)

Cost of goods sold 20.000.000 VND

PR & Marketing 5.000.000 VND

11 Financial Statements

 Income Statements

Gross Profit

Cost of goods sold 25.000.000 VND

Gross profit margin 26.000.000 VND

Operating expenses

Tax (20% revenue) 9.000.000 VND

PR & Marketing 6.500.000 VND

To sum up, our business has to struggle with the obstacle with regard to the income from sold products not enough to compensate for actual expenses in project implementation compared to that of forecast The virtual point is consumer market that not diverse that cause adverse impacts to the efficiency of the business To deal with problems from the root, our business should attempt

to change the market of consumption and apply the spending cuts in some expense’s categories

 Cash flow analysis

Cash inflows

Accounts receivable collection 20.000.000 VND

Total cash inflows 51.000.000 VND

Cash outflows

Marketing

Professional fees 5.000.000 VND

Other fees

Total cash outflows 43.500.000 VND

The cashflow is still positive

 Balance sheet

Assets

Long-term assets 20.000.000 VND

Liabilities

Current liabilities 15.000.000 VND

Long-term liabilities 20.000.000 VND

Equity

Shareholder’s equity 10.000.000 VND

Stockholder’s equity 25.000.000 VND

Our assets are higher than liabilities and the stockholder’s equity is positive prove that business is on the way

12 Exit strategy

The most efficient and suitable exit strategy for our business which is small and have advantages over the consuming market is to merge it with a larger company This method will exert positive in increasing the revenue of the business When merging your business, we typically remain part of the new company—either as an owner or manager Generally, mergers participate in the same industry with the main business Therefore, our business will be compelled to develop and become more profitable

the merged company