start up business plan project report children assistants

HANOI UNIVERSITY OF SCIENCE AND TECHNOLOGY School of Information and Communication Technology Start-up Business Plan PROJECT REPORT Children Assistants Instructor MSc Le Tan Hung MSc Le Duc Trung Students 2011 2017 – Ngô Xuân Quý 2011 1648 – Đỗ Trọng Huy 2011 1768 – Tạ Thanh Lương 2011 1352 – Trần Vũ Duy 2011 2157– Vũ Văn Tùng 2010 2512 – Vương Mạnh Tùng Contents Executive Summary a Company Profile Summary We are Children Assistants We provide solutions for the development of children under 10 years old through by toys connected to fastest and most efficiency Management System We start up with ICT students: Vương Mạnh Tùng, Vũ Văn Tùng, Trần Vũ Duy, Ngô Xuân Quý, Trần Trọng Huy, Tạ Thanh Lương, from Hanoi University of Science and Technology (HUST) b Market Research Summary As you know, children are always the future generation of the original and national growth So, undeniably, they has become the most cared people in the society In addition, the first times of human life is the most incredible period to broaden knowledge and develop personalities By bringing better living standard, we directly make a decision about beautiful future for our children However, in Vietnam as well as eastern countries, in term of tradition, the age of under 10 years need to focus more on physical growth than that of mental and characteristics c Marketing Summary Nowadays, Vietnamese families need products having two functions as entertainment and education It would be a toy which will get data through by children’s activities and then summarize statistics, giving their parents some advices about suitable solutions to motivate better growth in both physical and mental d Finance Summary The main revenue come from selling intelligent products like children toys with the range of price between 50 -150$ First Year projections are targeted for 20,000 - 25,000 $ By Year two, sales are projected to double to 50,000 - 65,000 $ with expenses just under $13,200 Product and service Children Assistants provide three services and products including: “Monterssori” teaching devices: It helps children practice related to lessons which directly develop children’s sensors and characteristics Coures: provide parents understand and know How to teach children 3 Reports: After finishing courses, parents use them to judge children Market Research a Industry Profile & Outlook Nowadays, toys market moves to a strong transformation In the past, the majority of Vietnamese products were imported from China, approximately 90%, and now this figure decrease significantly However, it is hard to compare the satisfaction of market on Chinese products than others because of lacking of diversity, creativity and even outdated design In the addition, the limitation of insurance leads to non-synchronized production with the prices being always higher than 15% that in Chinese with same design It is fact that all Chinese products are made from plastic and rubber, affecting directly children health, which leads to psychological concerns This has become an great opportunity for local businesses for creating new security toys such as wood And, after a long time analyzing local market, we has developed a high applicability toys made from wood, safe material b Local Market The initial focus will be in providing courses about using products and lessons related to develop children in both physical and mental c Key Competitors / SWOT Analysis • Other companies Strengths – o Big trademark o Stable input and output market Weaknesses – o Limitation education application in toys Opportunities – o Develop a new product to adapt market Threats – o Lacking of information from customer take time and price to satisfy with market demand • Children Assistants Strengths – o Friendly products with variety of design with colourful and safety o Non-poisonous – Made by Wood o Non-profit sophisticated software to management o Mental development o Provide new teaching methods for parents o Interaction between the production and the customer Weaknesses – o Can be perceived as too niche o A new product with very little history o Take time to create market belief Opportunities – o Providing new teaching method in schools o E-commerce is still new market Threats – o Outdated statistics o Risks from online business d Target Market Young parents have children under 10 years old in modern urban e Keys to Success • To develop an extensive online lessons for parents new teaching methods • Always listen and change to adapt market demand • Idea is key success Sales & Marketing a Pricing Strategy The main revenue come from selling intelligent products like children toys with the range of price between 50 -150$ or services allow customers to trial using products before making decision to buy in month Besides special service only provide for children schools with encourage price by 70% original one First Year projections are targeted for 20,000 - 25,000 $ By Year two, sales are projected to double to 50,000 - 65,000 $ with expenses just under $13,200 b Marketing Strategy Children Assistants is committed to building a new teaching methods, advance, friendly and efficiency through by diversified toys Our Slogan “ c Always Be Children’s Friend” Primary Marketing Activity Starting to attendant into Vietnamese Market Steps include: Using the strength of social network such as Facebook, Zalo, some family forum like Webtretho advertises products Develop a unique website in order to introduce products as well as provide necessary tutorial lesson through by visual aids like videos and images Make a friendly relationship with kid gardens or supermarkets by trial uses Create conference about children development applying high-technology toy Build store chain in local modern urban before developing the business net to rural Operations a Location(s) • Focus on big economy center like Ha Noi, Tp Ho Chi Minh, Da Nang • After 2-3 years, develop in others b Website description Website registers domainname It is online commercial as well as provide information about teaching courses for parents Website will focus on three main functions: Online store with showing all products with tutorial They will be divided into different purpose about language, age and gender Teaching courses provide free for customers They are also divided into different demand about age from to years old The content about i Tutorial by images + video ii Introduction about education method“monterssori” Summary about the development period through by getting statistic from our products sold for customers c Website development Website will be developed by high level engineers and have great bandwidth – withstand approximately thousands connection • Informative: Every information about products will be shown when clicking each product such as name, name company, material, color, price, suitable age and especially appear in 3-D image • Security: All trade secure under best online security In addition, we accept variety of payment solution including cash and card We commit shortest time to deliver products in 1-2 days before paying and re-pay after judging days All products have 3-6 months insurance d Legal Issues Children Assistants anticipates the following legal issues: • Business licenses • Intellectual property (i.e patents, trademarks and copyright) • Contract agreements (partnerships, independent contractors etc.) Children Assistants is automatically protected by copyright but no patent is being pursued as the layout and simplicity in the process is what makes the software so effective e Insurance Issues • Every trade has pay-bill • All products have been written original and insurance f Human Resources  Children Assistants will have - 10 full time staff  Children Assistants will have part time staff  Children Assistants subcontracts work to Hoa Phat for product development and Protecting Customer Academy to test the product as well as Children Development Center to analyze statistics All have extensive experience in their respective fields They will be called upon on as needed basis in the future but not as employees but as subcontractors This will help keep costs down in the initial stages Process/Production The intelligent toys not only provide high-design product for market but also bring new education solution for children We divide into four main group: • Language: Focus on thinking language such as the alphabet and number They will be suitable with 2-5 years old children • Sensory: Focus on developing abilities related senses of human They will be suitable with under years old children • Math: Focus on thinking logic and predict as well as learn some simple mathematics as add, sub, multiply and divide They will be suitable with over years old children • Experience: Focus on broadening knowledge about natural thing like animal and plant They will be suitable over year old children Risk Assessment • Not enough initial cost to develop products • Sensitive market about new products • Risks from online commercial • Mistakes in production Financials a Start-Up Costs The example business plans not include start-up costs, cash flow or income statement example content b Sales Forecast Key Assumptions for Children Assistants • The product of each price is from $5 to 50$ • Discount 5% for orders > 100 $ , free SIP in whole nation ; • First Year projections are targeted for 20,000 - 25,000 $ • By Year two, sales are projected to double to 50,000 - 65,000 $ with expenses just under $13,200 Year One Sales Forecast (Including Assumptions) Month – 3500$ - Register website host ,domain , design website to introduce about company and productions : 1000$ - Produce sample toys to evaluate quality and mode of products : 2000$ - Advertising campaign : 500$ Month - 6000 $ - Start producing more woody toys , base on marketing trend : 4000 $ - Hire employee : 2000$ - Website maintain : 100$ Month - $10000 - Series productions are produced - Sale to market various toys - Support products for garden children , supermarket Year Two Sales Forecast Base on finance situation and profit from One year , company will have reasonable policies c Cash flow d Income Statement ... production Financials a Start- Up Costs The example business plans not include start- up costs, cash flow or income statement example content b Sales Forecast Key Assumptions for Children Assistants • The... original and insurance f Human Resources  Children Assistants will have - 10 full time staff  Children Assistants will have part time staff  Children Assistants subcontracts work to Hoa Phat... We are Children Assistants We provide solutions for the development of children under 10 years old through by toys connected to fastest and most efficiency Management System We start up with