Name
Id no.
Institution
Course
TUTOR: Ms Cherry Rose
SUBMITTED: date
CONTACT:
Telephone
EMAIL:
WEBSITE:
FAX: (876) 9
EXECUTIVE SUMMARY
Musical Ink Drive pen is a sole proprietor business owned and operated by
Raniece Williams and Tonia Campbell which resides at 23 Constant Spring Road
,Kingston. The business offers a very unique product that’s never seen before which will
draw customer’s attention. The Musical Ink Drive LTD will aim to compete with all the
major pens businesses that makes similar pen like us in the world.
The startup capital that will be require to commence this business will be
generated by pooling money from savings, family, and barrow money from the bank.
Musical Ink Drive Pen LTD will employ a maximum of ten (10) employees and
auxiliary staff
Musical Ink Drive Pen LTD looks to gain an additional 2.5 million as loan to pay
for the least of the land and to produce parking space. The owners has from their asset a
total of 4.5 million to put towards starting up the business.
Also Musical Ink Drive Pen LTD will have the customers’ priority and interest in
the best of hands to satisfy their needs and let them feel comfortable with the building.
MISSION STATEMENT
Musical Ink Drive pen Ltd aims to satisfy customers who uses both thumb drive and also use
music while studying or while working. We intend to create high quality standard products and
also maintain a friendly , fair and creative working environment, which will respects diversity.
We also want to ensure the satisfaction of our customers with the best quality products and
services we have to offer through hard work and dedication.
VISION STATEMENT
Musical Ink Drive pen Ltd strive in providing the best quality products and services for our
customer to satisfy their needs.
GOALS AND OBJECTIVES
The goal of our organization will be to expand the business and have more outlets island
wide in the next 5-10 years.
The objective is to become the number one pen business in the next ten years, providing
fine quality products 100% up to standard quality and make enough profit to support our
business , employees and business island wide.
DESCRIPTION OF BUSINESS
C&T Pen Enterprise will be a sole trader business which will be located at 23 Constant
Spring Road, Kingston and will be owned and control by Raniece Williams and Tonia Campbell.
This business will be operated about 6-8 hours a day so that the products can be finish buy the
targeted time.
This business is a manufacturing business which will be started up in July year 2020
which will be operated under given time scheduled and will be opened five days of the week.
C&T enterprise will then be expanded within the next five year if the business is successful also
this business will have a geared platform which will aim to be one of the largest pen business in
Jamaica the next ten years from now. The starting up of the business will be with an amount of
three million dollars ($3,000,000,000) which covers we will both design a pen and making of the
pen and also the cost of assets.
C&T will be started up because it was the easiest business to start up and also the profit
will only share between two persons. It will be unique on the market as we aim to exceeding
meeting our customers’ demands. This will only happen through our innovative promotional
strategies such as price skimming and price penetrating.
PRODUCT AND SERVICE TO BE CREATED
Musical Ink Drive Ltd will be producing a pen with a flash drive (thumb drive) and a musical
part to it. However the pen will be at one end (bottom) of it where it normally is then the musical
part will be at the middle and the flash drive will be at the end of the top which is at the next end
of the pen. To get the point of the pen out the pen should be pressed down, and for the musical
compartment there will be four bottom on the side of the pen to manipulate it so that the music
can be played and the flash drive will have a fashionable cover to protect it from dust.
This product is different due to the fact this has a variety of thing attached that can help working
person; person that works in office, and secondary student, also tertiary school students who will
be using both thumb drive and pen and to do research. The musical part is mostly for secondary
and territory students who can’t work or study without music. The Musical Ink-drive LTD
product is a uniquely unique and affordable product that most customer will be attracted to,
however this product price range from JA $1500 to $3600 base on the lowest gigabytes to the
most, alternately.
The type of product that this enterprise is offering which is a musical pen drive, so this make it
the most unique product in market. This business will also be copyright in the near future and
also patented and proprietary.
ORGANIZATION STRUCTURE
The organization structure of your business plan summarizes the information about your
business, organization structure, business members, duties and expertise as well as their roles.
CEO
Marketing
Production
Human
Resources
Information
Technology
ORGANIZATIONAL ETHICS
Customer
Service
Ethical behavior is often over looked by entrepreneurs, as the chaos of everyday business
obscures the philosophical side of our enterprise Musical Ink-Drive LTD. Good people are a
fundamental part of good ethics.
Recommendations on how to behave ethically in our organization;
Respect- As an entrepreneur building a business, you need to respect yourself and
surround yourself with people who you can respect. We can assume our
employees will do their job as well as they can, they do need coaching, training
and direction but respect and trust make it easier for us to avoid chaos and build a
strong foundation within the organization. When existing relationship weaken, we
try our best to rebuild mutual respect but if fail we take action.
Honor: We give special attention to strong performers and people who exemplify
the spirit of our organization. We recognize top achievers and producers who go
beyond quotas and sale figures, point out and show gratitude to them. We
acknowledge and honor their contributions publicly as well as privately.
Integrity: When it comes to integrity it has to do with, not lying, stealing or
cheating. Make your word your bond and always stand by your word. When you
are wrong, own it and make good on the deal. Treat others as to how you would
want to be treated. We fire once you lack integrity.
Compassion: we will maintain an awareness of the others and act to meet those
needs whenever possible. We will also minimize harm whenever possible. We
will act in ways that are considered consistence with our commitment to social
responsibility.
Fairness: we will create and follow a process and achieve outcomes that a
reasonable person would call just, evenhanded.
OPERATIONAL PLAN
PRODUCTION
The flash drives or thumb drive parts and pen parts will be ordered from Alibaba which is an
online company sit whereby the others will be mad and fitted up by the business.
Production techniques and costs- the cost of the products will the minimum and slightly
less than the competitors. The production technique will be to make the flash drive, pen
and the musical part which will be put together to make Musical Ink Drive Pens which
will be distributed to wholesale businesses and it will also be available at the business.
Customer service- we offer a wide base customer service where we will call and check on
the customer sale if they are progressing with the products. We also will offer discount to
our customer to show our loyalty to them.
Inventory Control- Musical Ink Drive Pen LTD will be taking back turn over products
from customers and exchange will be a quality of control. Stock checking will be done
monthly to keep in check a fresh new product and what is the most distributed brand.
MARKET PLAN
Musical Ink drive Pen will be located at 23 Constant Spring Road , Kingston which is
located in a section the heart of Jamaica. This however gives in a easier access to the customers
of the region and all over the island, and this is also where no competitor is resides which
makes market much easier for us, besides our product will be cheaper and more reasonable .
There is no market that makes similar product that we make so this makes its better for us, so
with this factor we will attract most of the market. After conducting a series of well structured
and organized researches, our collected data shows that thirty percent (30% ) of the market prefer
paper mate while forty percent (40%)of the market prefers ball point pen as their distributor
because of their low and reasonable price and the and the remaining thirty percentage is for other
local market.
With this information gain Musical Ink Drive pen will produce a combination of all three
factors by providing low and reasonable prices, high ratings of customer satisfaction and quick
and professional services, thus making us the number one desired preference of pen. We are
expected to have 80% of the market.
The growing potential of the business will be as steady but at first it will be more of a
loss, due to production cost which will strain our budget to reach the level of the competitors
with one try and since its new the customer will be skeptic on choosing a new brand over their
local brand.
SWAT ANALYSIS
Strength
The main strength of the organization will be its human resources, primarily its management
team. The owners of the business has knowledge and experience of using technology and putting
things together to make one which gives them knowledge of managing the business effectively.
Their understanding of the need for quality in the products and services which will offer, topped
with their in depth knowledge of the competitors and the competitive price are the company’s
greatest assets.
Weakness
As a new entrant to the market trend setters lack brand equality that many o its competitors have
earned over years of service. Also in order to expand the business more space will be need for
various department such as the stock keeping/ storage and more machines and equipments will
be needed. Lastly large costs associated with starting up business.
Opportunity
Musical Ink Drive Pen will be a steady growing market that is traditionally unaffected by the
economic environment as well as the sales opportunities will increases as more people purchase
the product. This is a new Jamaican market which will provide tremendous opportunity for the
organization to expand through exporting overseas and build more in Jamaica.
Threats
The major threat for the Musical Ink Drive Ltd is that the completion from already established
chain will have a negative impact on the business. But unless the competitors provide a better
quality of product than ours then the threat outlined will be significantly enough to threaten our
business.
FINANCIAL PROJECTION
MUSICAL INK DRIVE PEN
PROJECTION TRADING PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED DECEMBER 2020
$
Sales
Less cost of Goods sold
Opening Stock
Add Purchases
Less closing stock
Gross Profit
Expenses
Light
Water
Rent
Salary Expenses
Bank fee
Insurance
Total expenses
225,000
72,000
297,000
45,900
$
257,100
251,100
6,000
300,000
80,000
120,000
3,000,000
45,000
26,000
3,571,000
MUSICAL INK DRIVE PEN
$
270,000
60,000
330,000
46000
350,000
60,000
120,000
3,050,000
45,000
26,000
3,651,000
$
286,000
284,000
2,000
BALANCE SHEET AS AT JANUARY 2020
Year 1
Fixed Assets
Building
Equipment
Machinery
Total fixed asset
Current Assets
Stocks
Cash at bank
Cash in hand
Total Assets
Less Current
Liability
Creditors
Working capital
$
Year 2
$
$
120,000
20,000
30,000
120,000
50,000
60,000
23,000
255,000
1,490,000
2,000,000
3,745,000
1,459,500
$
170,000
300,000
2,005,000
1,500,000
3,805,000
2,285,500
2,308,500
SALES FORECAST
1,593,048
2,211,952
2,381,952
This sales forecast show the projection of sales for two years which the business in expected to
display when its real/open.
YEAR 1
Sales Forecast- Musical Ink Drive Pen
Business & Personal Financing Support- Prepared March 2020
Month Unit Sold
Cost per Unit
Selling Price
Revenue
Jan
13
1500
1700
22100
Feb
7
1500
1700
11900
Mar
10
1500
1700
17000
Apr
10
1500
1700
17000
May
15
1500
1700
25500
Jun
11
1500
1550
17050
Jul
7
1500
1700
11900
Aug
9
1500
1550
13950
Sept
16
1500
1700
27200
Oct
18
1500
1700
30600
Nov
22
1500
1700
37400
Dec
15
1500
1700
25500
Total
153
18000
20100
257100
YEAR 2
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Total
12
23
14
8
23
4
25
20
9
12
15
5
170
1500
1500
1500
1500
1500
1500
3600
1500
1500
1500
1500
1500
20100
APPENDIX
1700
1700
1700
1700
1700
1700
1700
1700
1700
1700
1550
1550
20100
20400
39100
23800
13600
39100
6800
42500
34000
15300
20400
23250
7750
286000