Assignment on: New Business plan

Course: Entrepreneurship
Course Code: MGT 3135
Section: 1 (A)
Submitted to,
Iftekhar Shahab Uddin

Submitted by:
Name ID
Naimul islam khan 2016010000277
Afsana Akter Prema 2014110000062
Sayed Hasan 2016210000066
Nusrat jahan liyzu 2016210000078

Submission date: 10/5/2020

 Business plan
As we all know very well that our security cameras are not enough to ensure our security. In our
country security cameras are kept inside a protective case to ensure no one can steal them. So,
security cameras need safety first, and they are expensive too. If we want a 5-6 CCTv Security
system with no motion detection, no security alarm and no anti-theft features it will cost around
22,000-25,000 Taka excluding the installation charge. So, everyone cannot afford this. Our
Product name is “SafeCage”
Product
Our product is not only a camera, it is a fully featured security system with anti-theft build in. It
can detect motion; it can sense even footsteps and it can inform you on real time. With the help
of your phone you can get notifications about your house. You don’t need to have a smartphone
or app to look after your house or control your device.
Let's Compare our security system with traditional CCtv camera setup,
First of all most of the CCtv camera setup can not run without electricity or it is too much
expencive to have a setup that can backup when power goes out. SafeCage can run without
electricity for more then 72hours.
Regular CCtv is made for recording video 24/7 for a limited ammount of time, our product is
different, it can record but it also can sense motion, it can detect any suspicious window or door
opening.

Regular CCtv can not inform you about whats going on in your house or in your work place, on
the other hand SafeCage will instantly notify you if there is any suspicious activity, by our mobile
app, SMS or in case of emergency it can even call you.A traditional 4camera CCtv system or
security system will cost you around 20,000-30,000 tk, Where SafeCage is starting from only
5000tk.

How it works?

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SafeCage comes with separate units, one is the brain of our security system and other small
modules that will be attached with your house entrance like Doors and windows. If anyone tries
to break into your house by the window or door the modules will detect that motion and instantly
send you notification by Text and in your mobile app, and It will activate a 120Db siren for
5seconds. If you don’t react within a given amount of time it will sms your 5 trusted contacts and
it will again play the siren but this time it will be more loud, and if it goes even worst it will inform
the local police authority.
In case of power outage it will not stop its duty, it has a 5000mah built in battery that can easily
last for more then 72 hours. A system like this will cost you more then the price of a Regular
CCTv camera setup, But we are providing this features within your range, in our country there
are a lot of different brands that provide Security camera services but our device is made in
Bangladesh and designed by us. And all the raw meterial needed is available in our country,
that’s why we can provide this kind of features within your budget.
We believe security is for everyone, each and every citizen of our country deserves to be secure
in their houses.
About SafeCage
SafeCage will be the first local security device manufecturing company in Bangladesh. For
starting a new business or company we need 2 most important things, they are Place and
Investment. So we have some partners who will invest Money and time to grow our business.
Then time by time we will think about hiring people.
As we are solving a major safety issue of our country our first priority is to make less profit but
grab a large number of consumers. As I said earlier SafeCage is for all kind of people and it
cover up a wide range of consumers. From Lower middle class to business icons every one can
afford our product, from small house to industrial area or factory, our product is suitable for
every place. We will also provide more premium service for commercial usage or for big house.
(Like, maintenance,24/7 Customer care support)
We are not having any physical store at the beginning. We will maintain some social medias to
interact with our customers and as the social media marketing is now trending we will focus on
that too. We will run ads on Facebook Twitter Instagram and other social medias. As we all
know robbery and theft is common in our country our service and product will Attract customer’s
attention pretty fast.

Market Analysis
The global closed-circuit television camera and home security system market size will grow by
USD 8.65 billion during 2019-2023. This market report provides a detailed analysis of the
market by product (dome camera, PTZ camera, bullet camera, and box camera) and geography
(APAC, Europe, MEA, North America, and South America). Also, the report analyzes the
market’s competitive landscape and offers information on several market vendors. So it is a
great opportunity for us to get our business started.

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 Key Findings
The global home security camera market is expected to reach USD 1,306.3 Million by 2023.
By product, the market was dominated by dome security camera in 2017 and is also expected to
show the highest growth rate.
By type, the market was dominated by outdoor security cameras in 2017 is also expected to show
the highest CAGR.
By resolution, the market was dominated by HD in 2017 and is also expected to show the highest
CAGR.
By services, the market was dominated by professional services in 2017 and is expected to show
the highest CAGR.
Geographically, North America was dominating in 2017. Asia Pacific will show the highest growth
rate

Organization and management

1. Set up an “operating entity” : With guidance from tax attorney or CPA, we will select and
establish an operating entity, such as a corporation or LLC, through which to conduct our
business. While operating as a sole proprietor is certainly the easiest method, doing so clearly
shows you’re more interested in building income for yourself rather than in building an actual
business.

2. Establish a “trust” to hold operating entity:

It’s wise to have a “buffer” between us and our new business so that challenges that we or our
business might face in the future will be confined and not threaten everything else that we own.
3. Separate intellectual property from business:
People can think that their new business has no intellectual property, but they will be mistaken.
The two most obvious and potentially valuable pieces of intellectual property are our business
already owns that is its telephone number and its web address.
4. Establish a solo 401(k) for your business.
A solo 401(k) -- sometimes called a self-directed 401(k) -- is a special type of retirement savings
account that’s available only to small businesses. It enables you to sock away as much as
$50,000 or more per year and get huge tax deductions.
But tax savings aren’t the only reason to set up a solo 401(k).
“The money you place in a solo 401(k) is, from a legal perspective, extremely secure.

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5. Name your business with funding in mind:
Banks and traditional lenders prefer to lend to certain types of businesses more than others,
and if anyone need to get funding for their business, they must bear this in mind when naming
your business. So selecting a name for our business is an important thing.
Service or product line
Our product is a simple security system that has a lot of new features that nobody used before.
1. Our product line up will be,
2. Single indoor unit
3. Indoor and outdoor unit
4. Full home security system
5. Office, factory security system (Commercial)
Our main attraction is our product pricing and service that we will provide, we will provide 24/7
helpline. And if anybody takes our premium products or service, we will be always available for
help.
Marketing and sales
For marketing we will target social medias and online platform, so that our budget of marketing
will be easy, cost effective and efficient. As we all know Facebook marketing is now a great way
to attract customers and it makes everything easier. In the future when our product gets the
trust of our consumers

Funding request
For funding we will get some partners. As it is a new business and the starting fund can be
under 1000$, it will be very easy for us to invest but if we want any bank loan or a large amount
of funding, we definitely need to get attention of any bank or any person who can invest.

Financial projections
So this is our new business plan where we invest around 500$ per person. We are total 4
investors. Though it's starting point of our business so at this point we are not going for any
bank loans or searching for any big inventor. We all 4 partners investing our own money in this
business. In total amount of money 5**** Our product cost,other costs all included our
investment amount is ***.
Safecage It's a security device. This is our new business product. It's made in Bangladesh. This
cctv camera has many features. This cctv camera work without electricity. I this cctv camera has
sensible motion. This camera is not exhaustive. Safecage's stating price is 5000tk. Which is
very reasonable for our country. Security is very essential for us. In our community, now a day's
crime will increase immensely. Cctv camera is most important device which is included with
advanced technological system. Which is very needed product for this society.