StartUp India Learning Program

Business Tracker

Business Tracker
 Idea
1. What pain points or problems are you trying to solve with your venture
idea?

we are designing sheet metal storage solutions that can be made in parts
which can be assemble to make product in easy steps so consumer have
advantage over traditional almirah that these almirahs are easy to
assemble, transport so logistics are easy and easy to handle. are best
suitable for urban as well as rural lifestyle. products from sheet metal then
can be designed for other sectors like schools, organisations, corporates,
hospitals, shops... their is huge marketalso value proposition-product are
of high quality, precision making and through online channel we can make
available consumer his demand all over india

2. What experience or observation led you to this idea? Did you face the
experience personally?

i found being in sheet metal products industry from more than 10 years
that storage almirah for cloths are traditionally made which are very hard
to transport, also people are not getting value for money as light gauge
material products which have no quality are produced and marketed just
to make huge profits...no supply chain management can be done and local
manufacturers are more which are unorganized and paying less to the
workers and staff.

3. Write down your idea to address these problems in the most concise yet
effective way. E.g. redBus = Provides information about bus ticket
options and allows seamless booking of tickets on its platform.

storeeasy - manage your storage as you manage your cloths fold when you
don't need and assemble as per your need. easy to transport, assemble,
handle sheet metal furniture that is for forever. no termites like ply, value
for money, light weight, world class art and colors , powder coating etc rust
proof, rodents proof

4. List down the assumptions that you are making about the problems,
target group facing these problems, and your solutions. (Example: In case
of redbus, one of the assumptions was that bus operators would accept
and adapt to online bus ticketing)

almirah cant be produced in folding way

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 Target Segment

5. Who are the potential customers who face the problem that you are
trying to solve? (The problem you stated in the last segment)

urban consumer who wants furniture durable, space saving and value for
money.

6. You learnt about the importance of staying focused and choosing a niche
target segment. Is there a target segment where you can offer the
customer clear and compelling benefits at a price they are willing to pay?
Write point-wise definition of your Target Segments, and value
propositions for each of them.

our target segments are urban consumer who want quality, space saving,
durable product and our niche is online market and sales platform like
amazon, flipkart, pepperfry etc

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 Competition & Industry Analysis

7. Is anyone else trying to solve the same problem? If yes, then list down
these companies that are trying to solve the same problem or part of
problem.

very few of them. godrej and local unorganized producers but i have
doubts if they are producing folding furniture.

8. List down the differences in your offerings (as compared to existing

offerings in the market) for your potential customers?

our product is easy to assemble almirah and transport also again we are
providing various features like phosphate coating, stainless steel fixtures
etc

9. What is the threat of new businesses starting in your industry? How easy
is it to start up in your sector?

threats - there are many threats in the market but for new businesses to
enter in the market it have to do r&d and make investment respective to

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 market share it wants to consume. as we petent our ideas and products
our threats gets minimised.

10. How much power do your potential buyers have? Is cost of switching to
competitors for them high/low?

high is the buyer power.. so we have advantage over pottential

competitors to attract more buyer

11. How much power do your suppliers have and what potential do they
have to raise prices?

supplier will get benefits of uniqueness of product and will get benefits of
supply chain management

12. How easy is it for your consumers to find a substitute to your product?

it is easy but not of same quality also consumers will get more easiness and
robustness with our products

13. What is the level of competition in your industry? Would it affect your
venture?

competition is increasing day by day but our products have difference

from other products in the market. it will take time to copy our products
to competitor and trademarks and patent copyrights will prevent them to
do so hence our venture get vast market to expand.

14. How do you plan to gain competitive advantage over your competitors?

we will provide various designs , paint and coating options to consumers

thus innovating products and petenting product design we get proprietary
elements advantage for competition

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 Market Sizing

15. Which market does your idea cater to? (Example: Baskin Robbins catering
to premium market of ice cream lover)

middle class and lower middle class who is price sensitive but quality
aspiring furniture consumer.

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 16. How large is this segment, and how fast is it growing? Try and mention
data (with source) that supports your claim.

this segment is very large and most of the demand is fulfilled by importing.
the organised players like godrej and others are just up to 4- 5% of market
share. the demand in 2014 is of about 5-7 billion dollars which is increasing
at about 15-20% cagr. sources ibef india

17. Is it likely that your entry into this segment will provide you the platform
to enter other segments that you may wish to target in the future? If yes,
then describe these potential segments.

yes by targeting this segment we automatically get to penetrate in other

segments like folding furniture, a classic brand which is specialist in sheet
metal and alide products.

Legal Aspect

18. Having gone through this segment, which business structure are you
looking to go for? List reasons.

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 private limited company is the structure i chose for my entity and this
structure i found is more suitable for me as i found my business is scalable
and requires huge investment.

19. Which of the factors will drive you in choosing your base location? Which
location would you choose and why?

i choose my base location at my native place in sakoli town which is very

near to the biggest market in central india i. e. nagpur. i far as skilled
employees concerned, we have large base of them available here at very
low wages comparative to other areas of operation.

20. Which industry specific permits would you need to operate business in
your industry? (For example, if you are involved in manufacturing of food
products, then you will require a FSSAI license to continue operations).

we are involved in manufacturing business with mild steel sheet metal ,

other components for furniture assembly. so permits required will be like
iso and isi certifications .

21. For your venture, when you develop a new brand or logo, which IP
registration would you apply for and why?

i will apply for trademarks patent and design registration

22. For your own entity, what would be the 5 steps you would take to
execute your business idea from a legal perspective? For example,
company formation, registering IPRs etc.

i will form my company as a private limited company and register iprs as

trade mark and make various service contracts with service providers and
other d to c contracts will also be executed. in designing my website i will
also make terms and condition clauses and will make sure legality and
liability of our company get maintained.

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 Financial Plan & Strategy
23. What are the various Assets and Liabilities with regards to your own
business venture?

assets for our venture are building, machinery, ips and liabilities are debt,
loan we owe to banks

24. What are the financial KPIs that you track for your business venture
currently? Are you adding any KPIs to the list basis your learning? Give
reasons for each financial KPI that you currently use or want to use.

gross profit, life time value, costumer acquisition cost are the kpi i will use
for my venture

25. List and explain the factors you think will impact the level of working
capital for your own business venture?

list is nature of business the business is manufacturing so require high

amount of wc. size of business the size of the business will be around 5 to
10 crore production cycle the production cycle will be medium like 15
days to 45 days only. type of industry it will be a furniture industry
business fluctuations fluctuations like strike, price cut, resource
management may arise. access to banking facilities it will be easiar if access
to banks will be provided through cash credit limit profit and taxes taxes
will be more hence profits get decrease.

26. Describe the operating cycle for your own business venture.

for our business it will be of near about 30 days

27. What is your strategy for managing your business's short-term fund
requirements?

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 negotiating for credit time from supplier and getting short term borrowings
from banks

28. Describe some of the key terms (if any) you discussed and agreed upon
with the vendors of your business?

fees, costs and expenses payment terms applicability of taxes scope of

services termination financial covenants these points i think i should look
after before signing of any contract with my vendor/supplier.

29. List down the various operating (OPEX) and capital (CAPEX) expenditures
you made during the starting phase of your business venture?

during start-up phase opex like salaries, purchasing and customer credit,
electricity, phone bills, rents, web hosting are applied to us and capex like
building, machinery and other infrastructure, furniture are the
expenditure we face

30. Which are the sources that you have looked after or would be looking
into for raising funds for your business venture? And why?

venture capitalist and angel investors are best for my start up rather than
banks for me.

31. If applicable, describe the performance of your business venture based

on the following parameter:
Liquidity
Profitability
Efficiency

liquidity ratios measure a company's ability to pay debt obligations and its
margin of safety through the calculation of metrics including the current
ratio, quick ratio and operating cash flow of the company. profitability
ratios are a class of financial metrics that are used to assess a business's
ability to generate earnings compared to its expenses and other relevant
costs incurred during a specific period of time. efficiency ratios measure a
company's ability to use its assets and manage its liabilities effectively.
some efficiency ratios include the inventory turnover ratio, asset turnover
ratio and receivables turnover ratio. ... the ratio is calculated by dividing its
cost of goods sold by its average inventory.

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 32. What are the major cost elements for your business venture? Classify
them into Fixed, Variable and Semi-Variable.

fixed are like emi's rents and labour wages, variables are like purchase
sales etc

Business Plan
33. List here the participants in your startup's ecosystem, who will need the
Business Plan for themselves to perform their role better.

equity holders, banks, employees will need the business plan for our
venture

34. What would be the elements and sub-elements of the Business Plan for
your venture? Add a one liner explanation under each sub-element.

vision and goal - vision is to provide employment to as much as people and

sale a product across india. company description company is involved in

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 manufacturing marketing and sales of sheet metal furniture products in
india and abroad. industry analysis the industry has a huge potential as
there are nearly 30 crore households and every one is potential consumer
of this type of products. competitive analysis there is huge competition
from traditional manufacturer's and market share is also very much.
management team the teams are like executives, production, marketing,
sales etc operational plan logistics involved transports and operational
management and supply chain management. marketing plan will be done
through internet's, social media marketing, websites, seo, paid marketing
like advertising in tvs, and coupons also financial plan risks &
contingencies appendices

35. What is your overall marketing strategy? What steps or activities will you
undertake to achieve your goals/objectives?

we will do digital marketing as well as traditional marketing for our

venture. to achieve our target we first spend on digital marketing and to
attract village non digital customer we can market through hoardings, tv,
newspapers etc

36. Where do your products/services fit into the market? Are they high-end,
competitive or budget? How does this compare to your competitors?

the products are in all range and depending on the range the marketing
strategy can be made . as for budget product marketing can be done
through digital as well as traditional format

37. If relevant to your business venture, what type of storage facility and
distribution network will you have in place?

we would own the storage facility and distribution network will of our own
logistics.

Funding
38. Among the business stages discussed here, where does your startup
stand? Based on this, if applicable, what is the next funding stage that
you would enter?

my startup stands at the stage of bootstrapping and now on we need more

funds for r&d hence will need seed funding from vcs angel investors etc

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Business Tracker