BUSINESS MODEL CANVAS

PRINCIPLES OF ENTREPRENEURSHIP (ENT530) : BUSINESS MODEL CANVAS

FACULTY & PROGRAMME : FACULTY OF BUSINESS MANAGEMENT

(BA242)
SEMESTER : 2 (BA2422D)
PROJECT TITLE : BUSINESS MODEL CANVAS
NAME : PUTERI NINA
LECTURER : RAHAYU HASAN
 ANKNOWLEDGEMENT

First and foremost, praises and thanks to the Allah SWT, the Almighty, for His
showers of blessings throughout my report work to complete the report article successfully.

I would like to express my deepest appreciation to all those who provided me the
possibility to complete this report. A special gratitude I give to our lecturer, Madam Rahayu
Hassan, who is our lecturer for the course Principles of Entrepreneurship (ENT530) for this
semester, whose contribution in stimulating suggestions and encouragement, also helped me
to coordinate my report especially in writing this report.

Furthermore, I would like to acknowledge with much appreciation to my classmates

and friend, especially who help me to complete the task Business Model Canvas report. Last
but not least, I am extremely grateful to my parents for their love, prayers, caring and
sacrifices for educating and preparing me for my future. Thank you.

2
 TABLE OF CONTENT

PAGE

TITLE PAGE i

ANKNOWLEDGEMENT ii

TABLE OF CONTENT iii

LIST OF FIGURES iv

LIST OF TABLE v

EXECUTIVE SUMMARY vi

1. INTRODUCTION

1.1 Company Background

1.2 Problem Statement
1.3 SWOT analysis (two competitors)
1.4 Opportunity recognition
1.5 Purpose of business model canvas preparation

2. BUSINESS PROPOSAL

2.1 Business Model Canvas (BMC)

2.2 Details of BMC

3. CONCLUSION

4. APPENDICES

3
LIST OF FIGURES

1.1.1 Figure 1, show the organizational plan

1.1.2 Figure 2, Types of topping

LIST OF TABLE
2.1.1 Figure 1. Show the Business Model Canvas of Choqoejar

4
EXECUTIVE SUMMARY

The success of a small business depends on its ability to continually earn profits. Same goes
to Choqoejar that we try our best in providing the best types of chocolate jar to our customers
in order to attract more customers to come to our shop and at the same time can gain more
profits if we can maintain our business for a long period. First of all, Choqoejar a shop that
operating at 65, Jalan Othman Petaling Jaya, Selangor. Generally, many of our customers
comes from different places and also from collage students. Even though many customers
enjoy our chocolate jar, but some customers also has complaint about our services.

Choqoejar are lacking in providing services and facilities which is we did not have variety
kind of food offered to our customer. The customers have the different taste of food will go to
other shop or restaurant. So, as the owner of Choqoejar action must be taken in order to
increase our customers’ satisfaction. In order to increase customers’ satisfaction, we have to
make variable types of food in our menu. We can use the business model canvas (BMC)
analysis. It is a great tool to help us understand a business model in a straightforward,
structured way. Using this canvas will lead to insights about the customers we serve, what
value propositions are offered through what channels, and how our company makes money.

Next, we also can use SWOT analysis, it as a business guideline to know more about the
opportunity of the business and the threat that the business have to face outside the business.
From SWOT analysis, we can brainstorm and generate more ideas in order to improve our
business and at same time can increase our operating profit. Financial plan also important for
us to know the net profit of the business and we also can know the cash flow of our money.
In conclusion, Choqoejar has advantages and disadvantages of our business. We hope that
our product will make a better improvement in business in the future and grab opportunity to
make a lot of branches all around the world.

5
 1. INTRODUCTION

1.1 Background of the company

Choqoejar is a shop that began operating in Jalan Othman Petaling Jaya, Selangor on May
15, 2017 by Puteri Nina Farhana. Choqoejar is located in 65 Jalan Othman PJ Old Town,
Petaling Jaya, Selangor. The location of the shop is near to the residential area, and quite
far from other restaurant, which means there is a lot of space for the parking area. The
owner also need to pay for the rent as the shop is built and shared with other businesses.
Choqoejar do not spend a lot of expenses in promoting our stores, it is so because of the
power of social media that is strong enough to spread about the existence of their stores.

1.1.1 Organizational Plan

General Manager
(Puteri Nina)

Administration Operational Financial

Marketing Manager
Manager Manager Manager
(Afiqah)
(Que) (Adira) (Zulaika)

Figure 1, show the organizational plan

In this business the owner is a General Manager. She will give instruction to the workers and
plan activity for run the business. For the marketing manager, Afiqah is responsible for
managing the promotion and positioning of a brand or the products and services that a
company sells. Typically marketing managers are employed to attract more customers to buy
from the company and to raise brand awareness through the creation of marketing campaign.

6
Next, for the administration manager, we choose Que as a administrative manager is to
revolve around managing and distributing information within an office. This generally
includes answering phones, taking memos and maintaining files. Administrative assistants
may also be in charge of sending and receiving correspondence, as well as greeting clients
and customers. For the operational manager, Adira are responsible for managing activities
that are part of the production of goods and services. Their direct responsibilities include
managing both the operations process, embracing design, planning, control, performance
improvement, and operations strategy. Furthermore, as the financial manager Zulaika are
responsible for the financial health of an organization. She will produce financial reports,
direct investment activities, and develop strategies and plans for the long-term financial goals
of our organization.

1.1.2 Business Product

Choqoejar involves in food industry. We are selling the chocolate jar that can attract more
customers to come to our shop. Not only that, there is a concept that makes them a unique
because of the different topping inside the chocolate jar. There are many types of topping that
the customers can choose based on their preferences and the price is also suitable and
reasonable for each chocolate jar because they can mix the topping with their preference.
Based on the picture below, we can see that there is more than 15 set of topping to fill into
chocolate jar. With the variety of topping available customer can choose and request which
one they prefer for the topping of chocojar. The price for 350g is RM15 only.

Figure 2. Types of topping

1.1.3 Location

Choqoejar are located at 65 Jalan Othman PJ Old Town, 46000 Petaling Jaya, Selangor. The
owner of the business, Ms Puteri Nina said that she decided to operates her business there
because the ownership of the building is someone she know as a colleague. At first she try to

7
grab the opportunities by open the business at the location because there is limited shop that
serve chocolate around the areas. This has reduce the competition between our business and
others which in the same industry. Not only that, she stated that the location is nearby with
the supplier to obtain raw materials for the business.

In addition, the location is located at strategic places that may attract many customer to visit
and walk in to our shop. Mostly the regular customer of Choqoejar are local people that lives
in that area, not to forget young people also visit our shop to buy chocolate jar for themselves
of gift for others. It is also because the location of this shop are nearby educational institute.
For example, Universiti Teknologi Mara Petaling Jaya Campus Jalan Othman (UiTM) it is
just around 6 kilometre away and it takes less than 10 minutes to reach there. There is also
Kolej Kemahiran Tinggi Mara Petaling Jaya just 5 kilometre away. The students love to
come to this shop on the morning and evening with their friends to buy chocolate jar. This
have become one of the advantages because people who passerby the road will notice the
existence of the shop.

1.2 Problem Statement

The main problem faced by Choqoejar is customer demand. There are limited type of product
offered in our businesses. In this case, Chocojar only focus in selling chocolate jar with
variety of topping while other business offer variety kind of food. For example, Secret recipe
have different types of food and beverages such coffee, milkshake, cake, desert and western
foods. Compared to our business, Choqoejar only offer drinks, buble rice, chocolate and also
different types of toppings.

The result of this problem will not attract many customers to come to our shop to buy
chocolate jar. It also will impact our business revenue which decrease in sales. Customer
demand are so importand in doing a business, it used to be about meeting inventory and
service demands. Today, customer demand is about meeting and exceeding customers’
expectations, in other words, their demand for customer service and experience. The
company must meet customers on their terms, when and where they want.

8
 1.3 Company Analysis (Competitor 1- Secret Recipe)

Strenghts of the company.

The strengths of Secret Recipe, we noticed that Secret Recipe possess a strong market
presence. Along with the likes of Old Town White Coffee and Pappa rich, Secret Recipe has
been the name that is mentioned in most households. Since 1997, Secret Recipe has been
effectively branding itself as a lifestyle cafe that serves quality food. Aside from its self
branding, Secret Recipe also distinguishes itself by having a bright red logo to attract
customer's interest. The items on its menu namely the famous cakes that one can buy at
Secret Recipe also helps shapes its market presence. With the examples provided, we can
assert that Secret Recipe has a firm market presence in Singapore, Kuala Lumpur, Jakarta,
Bangkok, Manila, Brunei, Shanghai.

Besides that, Secret Recipe also possess strength in producing high quality products. As a
food and beverage company, Secret Recipe has stringent quality control over its products.
They constantly observe the quality of its raw materials of the food on its menu. Aside from
the food on the menu, Secret Recipe also closely observes it's bakery business which
generates a large share of its revenues. Lastly, Secret Recipe is able to control quality by
having a centralized franchising system which provides most of the raw materials needed to
serve its customers.

Weakness of the company.

Being a company which is still undergoing vast expansion, there are a few weaknesses of
Secret Recipe that we have observed. Firstly, the price set by Secret Recipe is slightly above
the average price for food. Although Secret Recipe is a lifestyle cafe, its main target audience
is consumers from the middle and upper income bracket. This is because Secret Recipe's
menu consists of premium food and specifically the bakery business that requires a high
maintenance cost to remain its operations. Lastly, Secret Recipe suffers from its pricing
policy as consumers in the lower income bracket will feel discriminated.

Another weakness of Secret Recipe is its inconsistent quality of service. As a franchise based
business, Secret Recipe has to provide high quality service by offering proper industrial

9
training. However that isn't always the case as many of its franchisee prefer to implement
their own staff training. This also causes Secret Recipe to suffer as it causes inefficiency in its
business operations. Moreover, Secret Recipe will face losses as they need to spend more on
training its staffs to enhance the quality of service.

Opportunities of the company.

The Secret Recipe branch that we have chosen is based in Subang Parade. There are various
opportunities and threats surrounding the business. First of all the opportunities present to
Secret Recipe in Subang Parade is its strategic location. Although Subang Parade seems
deserted and unpopular, it is actually located in a densely populated area. Surrounding it is
SS15 which has two colleges namely, Taylor’s College Subang Jaya and INTI College
Subang Jaya. Apart from having a strong student customer base, SS15 also functions as a
residential area. This boosts Secret Recipe’s sales as families who prefer to dine out can go to
Subang Parade which is within the vicinity of their home. Furthermore, Subang Parade is
easily accessible as another large residential area namely USJ is nearby its location. To add
on, Subang Parade has an abundance of car park spaces to accommodate its patron and a
KTM Komuter Station can be found behind Subang Parade. All these variety of customer are
seen as an opportunity for Secret Recipe to boost its sales exponentially.
Besides that, Secret Recipe in Subang Parade also has an opportunity present in variety of
appetite as people generally prefer having more choices when choosing a place for dinning.
Fortunately, Secret Recipe provides a plethora of choices for its diners to indulge in. The
menu currently ranges from cakes to local delights such as nasi lemak or even western
cuisine such as spaghetti cabonara. Secret Recipe has also improved its number of items from
merely 10 types of cake and 5 menu items to its current menu that has over 50 menu items
not including the cakes that range from customer favourites such as black forest to red velvet
cakes.

Threat of the company.

Aside from the opportunities Secret Recipe enjoys, there are also threats towards its business
operations. Secret Recipe is surrounded by fast food restaurants such as Kentucky Fried
Chicken and McDonalds. These fast food restaurants are a threat because they provide food
under a short amount of time. In contrast, Secret Recipe prepares its food using conventional
cooking methods which more often than not take a longer period of time to provide food to

10
its customers. This can cause customers who are in a hurry to shun away Secret Recipe as it
is unable to cater to their needs. 

Lastly, as a restaurant that serves confectioneries, Secret Recipe faces a threat of food waste
management. This is because the cakes that are baked on a daily basis at Secret Recipe.
Problems arise when Secret Recipe is unable to sell all its cakes and it become stale. While
being unable to sell the cakes, Secret Recipe then has to come up with proper ways to
properly manage its food waste. Examples of this are by reducing the amount of baked cakes
on a daily basis or only bake the cakes upon demand to prevent such wastage occurs. These
measures should be given a higher emphasis to prevent this threat from harming its business
operations as a whole.

1.3.1 Company Analysis (Competitor 1- Famous Amos)

Strenghts of the company.

Famous Amos received an International Brand Recognition, which is widely recommended

and recognised. Famous Amos has the reputation for its homemade cookies. It has a unique
taste that would attract buyers expecially chocolate cookies lover. Being a product company
that is Halal Certified does not limit its product to only non-Muslim but to Muslim people
too. It also provides delivery service that makes it easier and convenience for the customer
who want to buy it online.

Its Research and Development (R&D) department also make sure that they always improve
on its products and packaging design so that they remain competitive company. Famous
Amos also provide training for its employee to provide good services to the customers.
Famous Amos does not need experience bakers and only required a minimal space for its
store to operate.

Weakness of the company.

Famous Amos main weakness is in its marketing and promoting as it does not advertise its
product as frequent that would inform customer about its new product or its new store. This
would not create a want for customer to consume the products as advertisement usually
attracts the public and advertisement help to reach the public geographically. It also shows
that the public are lack of information about its products.

11
Opportunity of the company.

Famous Amos operates store world wide and it has successfully grow in every market it
operates. This shows that Famous Amos has the opportunities in its international expension.
It is the best way in expanding its market. Famos Amos also has the opportunity to develop
new strategic ways to increase their profitability. They may ask customer for suggestions or
they can give suggestion if they might want to produce other food product besides cookies to
be sold in its stores.

Threat of the company.

Famous Amos main threat is their target audience are mostly kids, young adult and adult.
Cookies are also considered bad for health, especially when it contains a lot of sugar. This
also can be a threat to the company as government has been encouraging the public to have a
healthy lifestyle. Customers will then avoid consuming something that they might consider
unhealthy for them.

1.4 Opportunity recognition

Before exploring how people identify opportunities, it is important to clearly define what
exactly constitutes an opportunity. As noted above, the concept of “opportunity” has been
closely associated with entrepreneurship in recent years. From an economic perspective,
entrepreneurial opportunities generally refer to situations that hold the potential for new
economic value.

Back to solved the issue or the problem that we identified earlier, the problem that business
may be solved through make a variety kind of product and services offered to the customers.
To overcome the barriers, we should produce new ideas of product and put it to the menu.
Choqoejar also need to promote their new product to customer through their social media to
inform customer about the latest product.

The meaning to produce new ideas is to make the variety of product such make different
types of food into the menu. As we can see our competitor, Secret Recipe has different types

12
of food and beverages from cake, milkshake, cake, dessert to western food. This will attract
the more customers to comes to their restaurant and also will increase their sales. Besides
that, services also important thing that we need to focus. The new worker need to training
first so they will know how to managed and handle the customer well.

Furthermore, Choqoejar also need follow the current trend, which is to design the café with
latest trend such a hipster café, that has unique design inside the shop. People usually like to
taking a selfie when they come to a nice place. With new decoration will attract more
customers to come to our shop. The environment in the shop also played a big role, surveys
have shown that most people believe atmosphere is one of the biggest attractions for a café.
On top of its service model, for example Starbucks' relaxing, cozy and
comfortable atmosphere is one of the major contributors to its success. To attract more
customers to come to our shop, Choqoejar should implement these ideas.

1.5 The purpose of Business Model Canvas (BMC) preparation.

The purpose of Business Model Canvas (BMC) is a strategic management tool to quickly and
easily define and communicate a business idea or concept. It is a one page document which
works through the fundamental elements of a business or product, structuring an idea in a
coherent way. The right side of the BMC focuses on the customer (external), while, the left
side of the canvas focuses on the business (internal). Both external and internal factors meet
around the value proposition, which is the exchange of value between business and customer.

The main purpose we use Business Model Cnvas is to quickly draw a picture of what the idea
entails which allows us to get an understanding of the business and to go through the process
of making connections between what the idea is and how to make it into a business. It looks
at what kinds of customer decisions influence the use of the systems which allows everyone
to get a clear idea of what the business will likely be. There are nine elements in Business
Model Canvas. As we can see there have key partners, key activities, key resources, value
propositions, customers relationship, channels, customer segments, cost structure and revenue
streams. All of these element are the most important to do the businesses.

13
 2.0 Business Proposal
2.1 Business Model Canvas (BMC)

Figure 1. Show the Business Model Canvas of Choqoejar

1. Key Resources

Key resources are the main assets that should have our company, in particular, requires to
create the end product, and these are usually differentiated from the key resources being
utilized by the competitors. Key resources deal with the operational end of the business
spectrum and define what kind of materials you need, what kind of equipment is required and
the types of people you need to employ.

Based on the results of the evaluation of the business model, key elements of resources have
the power and opportunity to develop. The strength of key resources mainly supported by the
owner of knowledge in the processing of chocolate jar, do business and innovation processes.

14
First of all, the key resources is equipment. The function of equipment is to melt the
chocolate to be put inside the glass jar after we put bubble. After putting the chocolate, we
put different kinds of topping into the jar.

Moreover, for the key resources Choqoejar is ingredient. As u can see we have different types
of topping. Choqoejar use the best ingredient to get the best result of taste. We have topping
such fruit, marshmallow, branded chocolate and etc. Customer also can request or mix which
topping their prefer like to inform us through social media or customer can just walk in to our
shop.

2. Value Proposition
The creation of new value results from the resources owned which makes Choqoejar as socio-
entrepreneur gives the story of inspiration and motivation business. Socio-entrepreneur can
be realized by serving markets less attention. The Value Proposition Canvas is a tool which
can help ensure that a product or service is positioned around what the customer values and
needs. For the Choqoejar value proposition, we has few segment in business model canvas
which is as a affordable products, healthy choices, variety of toppings and fresh fruits. As for
the affordable product, the customer can personally customize their own filling and topping
for their chocolate jar. Not only that, customers also can request the filling and topping they
want during the order. By the average price, RM15, customers can bring back the glass jar to
their home and reuse the glass jar, as actually they are paying for those glass jar. Affordable
as our product is delicious. Good value for money. As we mention earlier, we had many types
of topping such chocolate such as KitKat, Kinder Bueno, and so on, Nuts and fresh fruits for
toppings.

Healthy choice also very important for someone to have a good lifestyles. The healthiness of
chocolate jar comes from fresh fruits and, dark and white chocolates. Dark chocolate is
produced by adding cocoa butter to sugar and cocoa powder. Unlike milk chocolate, dark
chocolate does not contain any milk solids. White chocolate contains only cocoa butter, sugar
and milk solids and no chocolate liquor or cocoa powder. So technically, white chocolate is
not really chocolate at all. High cocoa content has been associated with positive health
benefits, especially cardiovascular health, from flavonol antioxidants. The fresh fruit for the
topping of chocolate jar are an excellent source of essential vitamins and minerals, and they

15
are high in fiber. Fruits also provide a wide range of health-boosting antioxidants, including
flavonoids.

3. Key Activities

Key activities that are added are making crispy chocolate jar. For the Choqoejar, we will
explain step by step the ways of making our chocolate jar. Firstly, customers enter into the
Choqoejar Shop to buy the chocolate jar. After that, customers put the bubble rice that has
been heated in the microwave in the jar or bowl. Then, customers choose the types of
chocolate that they prefer either dark, white or milk chocolate to be put in the jar or bowl
with the bubble rice. The customers put the melting chocolate from the Stainless Steel
Chocolate Fountain in the bowl or jar on the bubble rice according to the quantity that they
need. Customers choose the preferred toppings either chocolate or fruits to be put on the
bubble rice that are already covered by melting chocolate. Put all the toppings that has been
chosen by the customers in the bowl or jar. Weighting the Choco Jar at the counter. Finally,
customers make payment after they weighted the chocolate jar with their chosen toppings.

The second key activity is the selling and marketing of Choqoejar. For the selling part, We
are distribute or selling the Chocolate Jar direct to the customers. As we own the shops, end
user customers are freely walk in to our shops. We are also selling our products through the
online platform such as Facebook. Choqoejar also sells the products to the retailers, which we
will gain more revenues from them. Next, for the marketing we have product or services
strategy. Choqoejar remain the quality in terms of by using the fresh raw materials, such as
fresh fruits and the chocolate we choose. For the packaging, we used the glass jar which is
350g. Meanwhile, in term of promotion strategy, We will advertise our business using the
flyers to promote our product at the beginning, where the first day we open our business and
we also will make the business card since it also part of the advertising. We also will do it
during our opening, holidays such Hari Raya Eid-Fitr, Chinese New Year and Mother’s Day,
Father’s Day and so on. For example, “Buy 2 get 20% off for the Next Purchase”, “Buy 2
FREE 1” for the sales promotion.

4. Key Partnership

16
Key Partners are the relationships that business have with other business, governmental, or
non-consumer entities that help our business model work. These can be the relationships that
our company has with suppliers, manufacturers, business partners, etc. These partnerships
that we will undoubtedly create will be forces that help our business. For the Choqoejar,
firstly we have the organizational structure. Include manager, there are five workers for
Chpoqoejar which is marketing manager, administrative manager, operational manager also
we have financial manager. In business, they play a big role in managing the company.

The second key partnership is we have relationship with other business such as Mehr Dates,
the importer and distributor of dates and dried fruits. The location of this place not very far
form our shop, it is No. 107, Jalan Kosas 2/9, Taman Kosas, 68000 Ampang, Off Jalan Bukit
Belacan, Selangor. Malaysia. Next, we also have partnership with AsiaBake MB Marketing.
It
is the distributor of bubble rice which the main ingredients to make a chocolate jar. Last but
not least for key partnership, we have been using PostLaju services to post chocolate jar to
customer.

5. Cost Structure
Cost Structure refers to all the costs and expenses that the company will incur while operating
the business model. It also is the types and relative proportions of fixed and variable costs
that a business incurs. Cost structure is used as a tool to determine prices, if the company are
using a cost-based pricing strategy, as well as to highlight areas in which costs might
potentially be reduced or at least subjected to better control. Thus, the cost structure concept
is a management accounting concept; it has no applicability to financial accounting.

The cost structure of Choqoejar is refers to the administrative, operation and marketing
budget. As you can the see table at appendices pages, shows that the administrative budget
which consist of renovation and construction, office equipment, furniture, fitting and texture,
Salaries (included EPF & SOCSO), water, electricity and telephone bill, Business
Registration, Choqoejar also have Licenses & Others Certificate for our businesses, rental
cost and deposit also the stationery. The grand total of these cost is RM33,668.95. The
second cost structure of Choqoejar refers to operation budget. It is including machinery and
equipment, raw Materials and other expenditure such injection. The sum total of operation
budget is RM 15,880.80. Next, for the marketing budget include fixed asset, net working

17
capital, other expenditure also pre-operations. The total sum of marketing budget is
RM19500.

6. Customer Segment
Customer segments are the community of customers or businesses that the business are
aiming to sell our product or services to. Customers can be segmented into distinct groups
based on needs, behaviors and other traits that they share. A customer segment may also be
defined through demographics such as age, ethnicity, profession, gender, etc or on their
psychographic factors such as spending behavior, interests, and motivations. An organization
can choose to target a single group or multiple groups through its products and services.

Customer Segment of Choqoejar refers to geography segment. The customers that are living
at Petaling Jaya, especially the retailers and people or target customers that are living near the
PJ Old Town. Move to the demographic segment, it is divide the market according to their
age, gender, occupation, income and the family. For example, teenagers where their age
between 14 to 18 years old, mostly they love to hang out with their friends. The last one is
psychographic segment. The target market based on their hobbies, preferences, status, and
loyalty to product and so on. For example, young people mostly loves the sweets, while for
the adult they are not into sweets thing, but sometimes they will go to eat sweets with their
loves one.

7. Channels
Channels are a critical element of the business model. They are how a company
communicates with and reaches its customer segments. Customer relationships can range
from highly personal to automated. Either way, the objective is to develop authentic
relationships that lead to trust and customer loyalty. The channels that Choqoejar gives is
through the kiosk. The adress of the shop is at 65, Jalan Othman, Old Town, 46000 Petaling
Jaya, Selangor. The customer can walk in to our shop to buying the chocolate jar. The
retailers also one of our channels, we selling the chocolate jar mostly to petrol pump.

18
Customers will come into the petrol pump to pay after fill the car engine oil. It will attract
customers to buy the chocolate jar. It also will increase the business sales.

Social media also is the main important thing as a channels to the customers. The customer
can go to facebook page www.facebook.com/ChoqoeJar.ByPuteriNina to make an order for
chocolate jar. We have include the information to make the customer easy to contact us if
they have anything to ask. More than that if customer have a problem they can contact us
through the email ChoqoejarMY@gmail.com

8. Customer Relationship
Customer relationships describes the type of relationship a company establishes with it is
specific customer segments. Customer relationships are driven by customer acquisition,
customer retention, and boosting sales. In other words we need to get, keep, and grow our
customer relationships. For the price of RM15 per chocolate jar, 7% commission will goes to
the retailers, they only have to pay RM13.95 only for one chocolate jar. Next, we provide
tester for customer to taste the chocolate jar and choose which one that suit their taste. For
our regular customers, there are discount between 10% to 15%. More is the discount the more
customer tend towards buying. To achieve this, many companies are now focusing on how
they manage their customer relationships. Building strong customer relations is a great way to
develop customer loyalty and retain valuable, long-term customers

9. Revenue Streams
Revenue Streams are the various sources from which a business earns money from the sale of
goods or the provision of services. The types of revenue that a business records on its
accounts depend on the types of activities carried out by the business. Generally speaking, the
revenue accounts of retail businesses are more diverse, as compared to businesses that
provide services. A sales projection is the amount of revenue a company expects to earn at
some point in the future. It's a prediction that is synonymous with a sales forecast. Both help
determine the health of a company and whether sales will trend upward or downward. Small
companies use various input to determine sales projections. For the sales projection of
Choqoejar, the financial department have expect the company to earn at some point in the
future. As you can the table in appendices, shows that the amount of revenue a company
expects to earn in future until the next 3 years is RM884,453.

19
20
 3. CONCLUSION

As a conclusion, The Business Model Canvas is useful for driving the conception of new
products and services through its nine basic elements from both rational and emotional
perspectives. It also allows the teams to brainstorm insights, ideas and opinions around the
product, enabling a common understanding among the stakeholders as well as generating
strong performance indicators towards a strategic innovation. A business model canvas also
is an amazing tool to help the business reach the company goals.

Based on the business model canvas, Choqoejar are still lacking in some of point. We need to
improve our services and facilities to attract the customers and increase the sales revenue. A
business model canvas is an amazing tool to help our company reach the goals. Based on the
SWOT analysis between two competitors, even the company are successful but yet have the
weakness and threat. For the weakness and threat, we need to know how to improve our
business problem and know how to handle the situation if these happen.

21
4. APPENDICES

The Chocolate Jar

Administrative and operating budget.

22
 Marketing budget

Sales projection

Choqoejar facebook pages

23