INSIDER BAGS

SUBMITTED BY
AKSHAY GARG
TARUN NEGI
SAGAR SHARMA
ADITYA BHADURY
HARSHIT SAXENA

ACKNOWLEGEMENT
We would like to express our sincere gratitude towards
IMM- Fostiima, for providing us with the opportunity to
prepare this business plan and for guiding us
throughout the project. We are also very thankful to Mrs
Nadira, Lecturer of Entrepreneurship for helping us to
conduct the research.
Throughout this project, we have gained a lot of
experience in finding out more about the industry and
entrepreneurship concepts as well as financial and
business concepts.

Table of Contents

SNO
1
2
3
4
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6

TOPIC
Introduction (Understanding the Indian
Market Need Analysis for Insider bags)
Profiling of enterprise
Concept
Size of Project Investment
Size of Market
Viability Analysis

7
8

Implementation of the Project

Exit Plan and Contingency Plan

INTRODUCTION

PAGE NO

Insider bags is a company which trades unique and

innovative bags which the customer does not need to
carry, it follows him. Yes, it is true these bags are
automatic and GPS enabled and follow wherever the
owner goes.
Travel bags are very common in Indian market hence
we are trying to make efforts to introduce this
innovative product in the market which can cater the
needy.

NEED ANALYSIS
In the world, there is no greater need than a travel bag
for a tourist. There are innumerable companies in the
market which sells travel bags with various varieties
such as leather, light weight, security featured, etc. but
none of these bags cater the basic need of leisure for
the tourist as every bag needs to be carried.
After conducting research using survey method, it was
founded that Indian families face the below mentioned
problems while they travel

Heavy luggage
Safety of bag (security lock)
Problems faced by specially abled to carry bag
Problems faced by old people to carry luggage
Time consumption is more as luggage is heavy and
needs to be carried along way
Power backup problems (for charging)

COMPANY PROFILE
Insider bags work as traders who import robotic bags
from abroad and then sell to upper middle class, elite
class, old aged group and specially abled people.
Our tagline is Technology driven excellence and we
bring a technology which has never been introduced in
India and we want to make the lives of citizens more
comfortable and make them realise that holidays are
for leisure and not to work!

TARGET LOCATION
:
TARGET CUSTOMER
:

DELHI & NCR

REGISTERED
ADDRESS :

SHOP NO 12, NDMC AREA

CONNAUGHT PLACE

ELITE FAMILIES &

UPPER MIDDLE CLASS
FAMILIES, OLD AGED
PEOPLE, SPECIALLY ABLED
PEOPLE

DETAILS OF ENTREPRENEURS
The idea behind this product was carry forward by 5
young entrepreneurs who are from different fields of
management.
All the entrepreneurs also invested some initial capital
to start the business.
Details of the partners are:
NAME
FIELD OF MANAGEMENT
SHARE
1. Akshay Garg

FINANCE

2. Aditya BhaduryMARKETING
3. Sagar Sharma
4. Tarun Negi

MARKETING
MARKETING

5. Harshit Saxena HUMAN RESOURCE

The Finance Department is taking care of all
the financial activities of the Insider Bags.
Investments are being carried out by the
business partners of the firm only.
All the fixed and variable costs are being
analysed as per various aspects of the market
conditions.
The HR head of the company is responsible for
the manpower of the company and changes in
the coming years of the business.

 Effective database of customers and

prospective customers are also maintained by
the HR Department for effective flow of
business.
Marketing Department have focussed on the
Pilot Marketing and the changing behaviour
and needs of the customers for the usage of
luggage bags.
They are also focussing on the target market
that is travel and tourism.

CONCEPT OF INSIDER BAGS

It is an initiative taken up by FIVE batchmates of
a reputed MBA institute, located in New Delhi.
Fortunately, the four entrepreneurs are experts in
various fields marketing, finance, and human
resources. With the honing knowledge, the five
entrepreneurs decided to venture in INSIDER
BAGS.
The basic features of the bag are:

GPS enabled to follow the owner

Light weight
Used as a power bank
Sensor and SONAR enabled to avoid
obstacles
App enabled to see the location if lost
Lock bag using mobile phone

SIZE OF INVESTMENT & LOCATION

Investment required in the beginning INR 50
lakhs as per the attached excel sheet. We will be
having one head office and 4 retail outlets. The
head office will work as a warehouse, training
centre and repairing centre.
1.Head office- Connaught place
2.North retail outlet- Pitampura
3.South retail outlet- South Ex
4.East retail outlet- Vasundhra
5.West retail outlet- Janakpuri
We would rent all these outlets as buying of so
many outlets would cost a lot and according to
cash flow statement it would be feasible if we
buy these lands on rental basis,

ECONOMIC VIABILITY
Economic viability means that market
operation is sustainable regarding current
and projected revenues. The revenues will be
greater than or equal to all current and
planned expenditures. In simple terms any
activity that financially support itself is
economically viable.
The price of each insider bag would be
around 20,000 INR.
Since other bags like VIP, SKYBAGS,
AMERICAN TOURISTER starts with INR 10,000
and goes up to 25,000 the price of this bag is
viable and affordable for people who travel.

FINANCIAL VIABILITY
Financial Viability is the ability of an entity to
continue to achieve its operating objectives
and fulfil its mission over the long term.
The projected cash flows are estimated in the
attached excel sheet and according to our
projections the cost can be recovered and we
can start earning profits after 3rd year.
A business can be considered viable if it has
a healthy balance sheet, generates good
cash flow and turns losses to profits.

TECHNICAL VAIBILITY
It is a measure of how long a technical
component is likely to meet consumers need
before it becomes obsolete.
Since it is a new technology in the world
hence it is difficult to produce insider bags
without prior knowledge or hired
professionals so thats why we have chosen
to begin with trading and once well settled
we can start manufacturing of insider bags.
Since the technology is new we believe that
it will be widely accepted by the consumers
and help us create monopoly.

MARKETING VIABILITY
The Indian Luggage Industry is gigantic with
the total value of 4200 crores INR. 40
percent of this market are the elite class and
upper middle class people. So, we have our
target market of value around 1700 crores
INR.
Along with these elite class and upper middle
class people we target specially abled people
and old aged people too which increases our
target market.
Hence after seeing the demand and our
innovative product we can see the product
viable from the point of view of the market.
We will use social media, newspapers, word
of mouth, magazines, and pamphlets for
advertising.

IMPLEMENTATION
LIFE CYCLE
ASSUMPTIONS