BUSINESS PLAN REPORT 1

By: Group 117

Index

Elevator Pitch………………………………………………………………………………. 2

Industry Overview…….……………………………………………………………………. 4

PESTLE Analysis …….……………………………………………………………………. 5

Porter's 5 Forces Model ……………….…………………………………………………… 6

ELEVATOR PITCH:

Idea: Creating an e-commerce website which sells wedding accessories, services, and
personalized gifts. The key selling point of Wedding Xpress’s current model will be no
overheads by using a drop ship model. With unparalleled customer service and prompt
shipping Wedding Xpress has the opportunity to take the market by a storm.

Name of the company – ABC pvt ltd.

Vision: Our vision is to become a leading ecommerce website for our industry.

Mission: Our mission is to provide best quality service and price for our clients with every
transaction.

Problem:
 Most of the vendors selling these don’t have an online presence.
 There is barely any companies in this industry
 Too much hassle for wedding planners to go around buying stuff from vendors

Solution:

 Wedding Xpress will be an E-commerce website that will serve people across the
country
 Our drop ship model will see that the overheads costs are zero and hence will reduce
the cost of procurement.

Product Description -

 Wedding Planning:
– Venue
– Catering
– Décor
– Lighting
– Hosp. & Guest Management
– Invites
– Trousseau
– Photo video
– Wedding day theme
  Décor
– Home functions
– Sangeet
– Cocktail
– Wedding
– Reception

 Services offered:
– Designer Invitations & Accompaniments.
– Trousseau Packaging & Placement.
– Venues & Accommodation.
– Sets, Themes, Concepts & Decorations: 
– Menu Planning, F & B and Bar Tendering Services.
– Designers & Accessories. 
– Choreography, Music & Entertainment. Wedding Jaimala Themes.
– Photography : Still & Video.
– Rental Services Like: Security, Hostesses, Travel & Transport, Royal
Procession, Fireworks.
– Wedding and Hospitality Management. 

Target Market :

Sodium ion batteries are used in two- three wheeler electric vehicles in the form of batteries
to their motor, and these are thus used by the working middle class for transportation.
We are focussing on being a B2B company that provides these batteries to companies that
manufacture these electric vehicles. These vehicles are used by people mostly in the age
group of 20-40 and transportation is the most important basic need of every working
individual.
Sodium batteries are also easier to store and thus companies that are looking to pile up their
resources in the form of rechargeable batteries become a potential target too.

Revenue-Generation Model :
We are working are as a manufacturing unit making sodium ion batteries and we will make
money by selling these to automobile industries that use sodium ion batteries in their motors.
The raw material is easily available and it is one product that deems to rule the future being
an extremely safe and efficient source of energy, that is capable of replacing lithium ion
batteries because of its abundance.
Besides, this battery is used in electric two wheelers which is practically the need of the hour,
as it is a much cheaper substitute for fuel powered two wheelers. The lower middle class is
constantly looking for cheaper substitutes and thus the demand for sodium ion batteries is
big. It is a futuristic product but it dons a lot of opulence in the upcoming years.

Faradion is a successful company as it is manufacturing sodium ion batteries that are used for
powering electric two wheelers, which has a big customer group as sodium batteries are a
cheaper replacement for lithium ion batteries. Faradion is also selling these sodium ions
batteries that are being stored in Australia. Recently the company has been bought by
Mukesh Ambani for a whopping 135m dollars.

INDUSTRY OVERVIEW:

BIG FAT GAINS

The Big Fat Indian wedding is legendary. A staggering 1 crore weddings take
place in India every year and the wedding industry is growing at 25-30%
annually. People across the world dream of attending one, and people in the
country go to extreme ends to have one! These grand celebrations are
characterized by massive spends and also massive waste. Its complexity,
diversity and scale make it a very interesting case study. This paper aims to
understand the workings, sociology, demography and economics of the
wedding industry in India as compared to the rest of the world.

The factors contributing most significantly to this rise, include a rising

urbanisation rate and GDP. Both these factors have led to an increase in the
aspirational middle class with a higher spending capacity. Add to this the rising
number of weddings owing to a young population, and the wedding industry
has seen a spurt in the last decade.

 Indian wedding a recession-proof industry pegged to be $40-50 billion in size

 Annually, there are 10-12 million weddings in India
 Wedding industry to benefit from demographic dividend
 300,000 vendors employ three million during peak season
With the ongoing wedding season one can’t help but notice that the Indian
wedding industry is a huge one. In an Indian wedding, everyone just spends
and does not think of returns. Every manufacturer and retailer involved with
marriage related goods eagerly awaits the season to push business. With
each passing decade the Indian weddings are getting grandeur. Three
decades ago people hardly thought about the lavish wedding function that has
now become a trend and may be a compulsion. However, no one’s
complaining; at least not the retailers and associated players because of the
tremendous business opportunity that comes along with it. Let’s penetrate
deeper.

The Indian Wedding Industry

Currently, the Indian wedding industry is over Rs 100,000 crore and is growing
at 25 to 30 per cent annually. The estimated cost of a wedding with no
expenses spared could be between Rs 5 lakh to Rs 5 crore, in India.

The wedding market in India

No. of Indian marriages in a year: Approx 1,00,00,000

Indian wedding market worth: Rs 100,000 to Rs 110,000 crore
Gold and diamond jewellery market worth: Rs 60,000 crore
Apparel market (wedding) worth: Rs 10,000 crore
Durable goods market worth: Rs 30,000 crore
Hotel and other wedding related market worth: Rs 5,000 crore market
Pandal and venue decoration market: Worth Rs 10,000 crore
Favorite honeymoon destinations: Goa, Jaipur and Udaipur
Goa wedding cost: Between Rs 1 crore to 1.5 crore
Jaipur wedding cost: 1 to 2 crore
Wedding cost in metropolitan cities: Between Rs 25 lakh to 70 lakh
Wedding invitation card market : Worth Rs 10,000 crore annual
Bridal Mehendi market in India: Worth Rs 5000 crore
Item-wise expenses on Indian weddings

Dinner cost: Rs 700 to 1000 per person

Pandal decoration cost: Rs 10,000
Bridal designer saree/lenhga cost: Between Rs 10,000 to 50,000
Designer shervani cost: Rs 15,000 to Rs 40,000
Wedding invite cost: Rs 500 to Rs 1500 per card
Bridal make up cost: Between Rs 5000 to Rs 50,000
Bridal Mehndi cost: Between Rs 1000 to Rs 5000
With each passing year, Indian weddings are getting bigger and better offering
lucrative business opportunity to players involved. Giving up the basic
traditional look, the Indian weddings are donning a more corporate look, these
days.

Currently, the country has a population of around 1.25 billion and considering
an average family with five members, there are around 250million families in
India. With about one marriage per family every 20 years, the country
averages roughly 10 million marriages every year. An average 30 to 40 grams
of gold is spent in every marriage across the country, thus the total
consumption of gold comes between 300 to 400 tonmes annually.

It is also expected, the per capita income will be tripled in a couple of decades
and the per capita consumption of gold during weddings or otherwise will
increase. With half of India’s population being under 29 years of age, the
marriage market is set to boom like never before over the next five to ten
years.

If we take the above figures, it means the Indian marriage market is around Rs
1 lakh crore to Rs 300,000 crore annually, if one crore marriages are
solemnized in the country annually.
A person, in India, spends one fifth of the wealth accumulated in a lifetime on
a wedding ceremony. That means, a tremendous opportunity for retailers to
capitalise on.

The prospering allied industries

Today, everyone, from those in entertainment to décor, beauty clinics,

cosmetic giants, travel, tourism and even matrimonial web sites are making
money out of marriages. Even foreigners, who want to solemnize their
marriage in India, contribute to the Indian wedding industry.

Online portals like Shadi.com, Bharatmatrimonials and others rack up

revenues of Rs 200-250 crore from match-making annually, and believe the
business can only get bigger. While the traditional tentwallas still rule the
roost, creative wedding planners are also making the most of it. There are
wedding planners in the country who are ready to make all arrangements
required in an Indian wedding, from beginning to end, for a whopping amount.
But keeping in mind the middle class of the country, which is the largest
segment, there is a huge demand for planners who can arrange for a budget
wedding. 

Fashion designers, florists, confectionery makers and event managers are

cashing in on the flourishing wedding market. Considering the Indian wedding
market, Bregeut launched its expensive watches ranging between Rs 8-15
lakh in the Indian markets.

Replicas of temples of India, palace look-alikes or Sheesh Mahals are much in

demand as decor. The cuisine could be anything from Lebanese to Italian in
case you want something different. Star Cruises even launched a cruise to
Lakshwadeep primarily targeting honeymooners.

The wedding card market in India for the 10 million marriages performed
annually is worth Rs 8000 to Rs 10,000 crore. Delhi and Maharashtra alone
have more than 500 card printers. In Delhi, these printers are based in Chawri
Bazaar, Karol Bagh, and Lajpat Nagar where one can purchase wedding cards
according to ones capacity. Over two dozen of highly specialized printers are
based in Dadaseth Agiary Lane in Central Mumbai. The elaborate wedding
invite comes with the main card and three to four add-on cards like RSVP
card, the reception, engagement and the puja invite, and also an invite to
attend the sangeet, cocktail and mehndi functions.
In India, people have become very style conscious and they want to give their
best on their wedding. Things have changed in the past few years, it is more
about brands and people are ready to spend to look their best. Apparel market
is booming because of this.

The annual market of wedding dhol, bands, baggies with elephants, horses
and camels, lightings, is also the important part of Indian weddings, which is
estimated to be around Rs 5000 crore annual. With the increasing income and
more disposable income in India, the wedding market of the country is
expected to double within next 15 years, the experts feel.

One cannot think about marriages without beautiful flowers. Flowers are
important in order to create a delicate atmosphere around the wedding.
According to an estimate for decorating the wedding venue, bride-groom dais,
showering rose petals for welcoming the guests, requires another Rs 2000 to
10,000 for a middle class marriage.

The facts and figures point towards only one thing that is Indian weddings and
the associated industries are bound to prosper!

With the ongoing wedding season one can’t help but notice that the Indian
wedding industry is a huge one. In an Indian wedding, everyone just spends
and does not think of returns. Every manufacturer and retailer involved with
marriage related goods eagerly awaits the season to push business. With
each passing decade the Indian weddings are getting grandeur. Three
decades ago people hardly thought about the lavish wedding function that has
now become a trend and may be a compulsion. However, no one’s
complaining; at least not the retailers and associated players because of the
tremendous business opportunity that comes along with it. Let’s penetrate
deeper.

The Indian Wedding Industry

Currently, the Indian wedding industry is over Rs 100,000 crore and is growing
at 25 to 30 per cent annually. The estimated cost of a wedding with no
expenses spared could be between Rs 5 lakh to Rs 5 crore, in India.

The wedding market in India

No. of Indian marriages in a year: Approx 1,00,00,000

Indian wedding market worth: Rs 100,000 to Rs 110,000 crore

Gold and diamond jewellery market worth: Rs 60,000 crore

Apparel market (wedding) worth: Rs 10,000 crore

Durable goods market worth: Rs 30,000 crore

Hotel and other wedding related market worth: Rs 5,000 crore market

Pandal and venue decoration market: Worth Rs 10,000 crore

Favorite honeymoon destinations: Goa, Jaipur and Udaipur

Goa wedding cost: Between Rs 1 crore to 1.5 crore

Jaipur wedding cost: 1 to 2 crore

Udaipur wedding cost: 1.5 crore to 2 crore

Wedding cost in metropolitan cities: Between Rs 25 lakh to 70 lakh

Wedding invitation card market : Worth Rs 10,000 crore annual

Bridal Mehendi market in India: Worth Rs 5000 crore

Item-wise expenses on Indian weddings

Dinner cost: Rs 700 to 1000 per person

Pandal decoration cost: Rs 10,000

Bridal designer saree/lenhga cost: Between Rs 10,000 to 50,000

Designer shervani cost: Rs 15,000 to Rs 40,000

Wedding invite cost: Rs 500 to Rs 1500 per card

Bridal make up cost: Between Rs 5000 to Rs 50,000

Bridal Mehndi cost: Between Rs 1000 to Rs 5000

With each passing year, Indian weddings are getting bigger and better offering
lucrative business opportunity to players involved. Giving up the basic
traditional look, the Indian weddings are donning a more corporate look, these
days.

Currently, the country has a population of around 1.25 billion and considering
an average family with five members, there are around 250million families in
India. With about one marriage per family every 20 years, the country
averages roughly 10 million marriages every year. An average 30 to 40 grams
of gold is spent in every marriage across the country, thus the total
consumption of gold comes between 300 to 400 tonmes annually.

It is also expected, the per capita income will be tripled in a couple of decades
and the per capita consumption of gold during weddings or otherwise will
increase. With half of India’s population being under 29 years of age, the
marriage market is set to boom like never before over the next five to ten
years.

If we take the above figures, it means the Indian marriage market is around Rs
1 lakh crore to Rs 300,000 crore annually, if one crore marriages are
solemnized in the country annually.

A person, in India, spends one fifth of the wealth accumulated in a lifetime on

a wedding ceremony. That means, a tremendous opportunity for retailers to
capitalise on.

The prospering allied industries

Today, everyone, from those in entertainment to décor, beauty clinics,

cosmetic giants, travel, tourism and even matrimonial web sites are making
money out of marriages. Even foreigners, who want to solemnize their
marriage in India, contribute to the Indian wedding industry.

Online portals like Shadi.com, Bharatmatrimonials and others rack up

revenues of Rs 200-250 crore from match-making annually, and believe the
business can only get bigger. While the traditional tentwallas still rule the
roost, creative wedding planners are also making the most of it. There are
wedding planners in the country who are ready to make all arrangements
required in an Indian wedding, from beginning to end, for a whopping amount.
But keeping in mind the middle class of the country, which is the largest
segment, there is a huge demand for planners who can arrange for a budget
wedding.  

Fashion designers, florists, confectionery makers and event managers are

cashing in on the flourishing wedding market. Considering the Indian wedding
market, Bregeut launched its expensive watches ranging between Rs 8-15
lakh in the Indian markets.

Replicas of temples of India, palace look-alikes or Sheesh Mahals are much in

demand as decor. The cuisine could be anything from Lebanese to Italian in
case you want something different. Star Cruises even launched a cruise to
Lakshwadeep primarily targeting honeymooners.

The wedding card market in India for the 10 million marriages performed
annually is worth Rs 8000 to Rs 10,000 crore. Delhi and Maharashtra alone
have more than 500 card printers. In Delhi, these printers are based in Chawri
Bazaar, Karol Bagh, and Lajpat Nagar where one can purchase wedding cards
according to ones capacity. Over two dozen of highly specialized printers are
based in Dadaseth Agiary Lane in Central Mumbai. The elaborate wedding
invite comes with the main card and three to four add-on cards like RSVP
card, the reception, engagement and the puja invite, and also an invite to
attend the sangeet, cocktail and mehndi functions.

In India, people have become very style conscious and they want to give their
best on their wedding. Things have changed in the past few years, it is more
about brands and people are ready to spend to look their best. Apparel market
is booming because of this.

The annual market of wedding dhol, bands, baggies with elephants, horses

and camels, lightings, is also the important part of Indian weddings, which is
estimated to be around Rs 5000 crore annual. With the increasing income and
more disposable income in India, the wedding market of the country is
expected to double within next 15 years, the experts feel.

One cannot think about marriages without beautiful flowers. Flowers are
important in order to create a delicate atmosphere around the wedding.
According to an estimate for decorating the wedding venue, bride-groom dais,
showering rose petals for welcoming the guests, requires another Rs 2000 to
10,000 for a middle class marriage.

The facts and figures point towards only one thing that is Indian weddings and
the associated industries are bound to prosper!

Couples and vendor partners worked in tandem by experimenting, understanding

and exploring newer ways to celebrate love. By the second half of 2020, several
businesses have reopened creating more opportunities and states have relaxed
regulations on the size of social gatherings. However, there are certain innovative
trends that were witnessed in 2020, that we will continue to see in the years ahead
are the concept of intimate weddings which means that we may see a shift towards
providing guests with more personalised/ customised, grander experiences in 2021,
while still maintaining non-reduced budgets with greater reliance on technology and
the rise of alternative entertainment experiences that keep guests engaged with the
celebration from their seats or without all gathering in one place.  Additionally,
wedding planners have become an essential part of wedding planning. 

Rate of Growth of Industry –

The global lithium-ion battery market was valued $36.7 billion in 2019, and is projected to
hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.
The rate of growth in this industry in the future is huge as it is an emerging business idea that
poses ahead of itself a big future as it is in the high demand sector, being used in two
wheelers that are used by every working individual in the working class segment.

It is also used for storage as it is a lower source of energy and thus it is a great means of
rechargeable battery which has a big market of its own. Thus this is an upcoming product and
it has a great future.

PESTLE ANALYSIS:

Political, Economic, Socio-Cultural and Technological factors used in the environmental

scanning components of strategic management which help to minimize the threat and take
advantages of opportunities. This section used PEST Analysis to define the influencing factor
on identifications of EV energy storage system.

Political factors:

The political factor is expressed by the act of governments on an industry or activity by

applying laws, tax policy, environmental laws, trade restrictions and tariffs. In light of this
the government and regional parliaments play an important role on forcing the automotive
industry in following the regulatory requirements in term of greenhouses gas emission, fuel
economy and safety by setting standards such as the national greenhouse gases standards set
by Environmental Protection Agency in US which requires that emission level of new
passenger cars should be 225 gram of Co2 per mile in model 2016, in addition to providing a
financial and non-financial incentive.

Economic factors:

The factors that affect the purchasing power of potential customers and firm's cost of capital
are known as economic factors. These are : interest rates, economic growth, inflation rate.
The selection of energy source used in the production of these electric vehicle can be affected
in this situation as per the raw material prices that control the rising and decreasing of the
production cost and maintenance cost. These are considered as important variables for
various reasons, as price is the most determining factor of any purchase made.
Social factors:

The social factors constitute the cultural and demographic aspects that affect customer needs.
In light of this, The automobile industry along with statistical agencies made a survey about
the customers’ main interest aspects in buying a car: The results thus seen were intuitive :
cost, comfort, prestige, reliability…etc. In the case of electric vehicle it is different the
customer should focus on some aspects such as autonomy range and charging facilities, in
addition, the rising environmental awareness in recent years that make people feel more
responsible towards the environment and thus want to protect it by avoiding the CO2
emissions as in the case of fuel powered car. Taking on the the more friendly environmental
vehicle requires a consideration on the following aspects: fuel economy, autonomy range,
cost, safety, charging facilities, recharging time, reliability, technical performance are some
of the critical criteria in selecting the convenient electric vehicle.

Technological factors : Technological factors lower the barriers to entry, influence

outsourcing for tasks such as: automation, R&D Activity and technology incentives. In last
recent years, technology advancement has reformulated the automotive industry and changed
the customer behaviour by providing more facilities, raising the safety, increasing the
environmental protection measures and others advantages that are presented in electric
vehicle as a new generation of automotive industry. The high cost and lower autonomy range
are major barriers for electric vehicle to compete with the combustion engine vehicle. As a
result; the automakers and researchers have increased their investment and also increase
efforts on those two aspects i.e. improving autonomy range, decreasing the raw material cost
and

Legal factors : In India, changing environmental regulations would boost the sales of electric
vehicles. Patents and intellectual property of foreign partners make technological
internalization difficult. More attention and initiatives are needed to reduce the environmental
impact of automobiles. Moreover, legal compliance measures are implemented to improve
safety.

Environmental factors : The environmental awareness is spreading with great speed at the
moment, and in light of this, the sodium ion batteries used to power engines in two wheeler
and three wheeler vehicles are beginning to substitute the normal fuel powered engine
vehicles thus eliminating the harmful Co2 emissions thus removed.
Sodium ion batteries as a source of energy is also a safer option to change to, due to various
reasons like, ease of transportation, possibility of emptying the battery and recharging it later.

PORTER’S FIVE FORCES ANALYSIS:

Threat of new entrants : In this particular industry at the moment lithium ion batteries are the
only source of energy being used. Sodium Ion batteries are the potential substitute of the
existing lithium ion batteries as it is more abundantly available thus possibly reducing the raw
material price for the same. In light of this, the sodium ion battery industry is yet to be
exploited as it is still an emerging trend. This industry has a big future ahead of itself, and in
time to come there will be a threat of new entrants but at the moment it is bleak and the
demand for the product is excessive due to its numerous applications.

Threat of substitute products or services : This industry is still in the developing phase owing
to which sodium ion batteries have only one substitute in the market i.e. Lithium ion
batteries. At the moment lithium ion batteries are being used as the only source of energy in
batteries, but due to the excessive abundance of sodium it is much likely to substitute lithium
ion batteries in the near future. This will also see a significant reduction in prices and thus it
will be the more preferred product.

Bargaining power of suppliers : This industry is still in its emerging phase as it is the
upcoming trend so to be required in the future due to the depleting sources of energy as
lithium ion batteries. Sodium as compared to lithium is more easily available and thus the
bargaining power of the suppliers for sodium components will be comparatively lesser.

Bargaining power of buyers : The players in this industry at the moment are not able to fulfil
the demand of the buyers as this product caters to a large application be it electric two
wheelers or storage of batteries as a source of energy. In light of this, the bargaining power of
buyers is on the low due to shortage in terms of supply and thus it is an opportunistic market
in every way.
Rivalry among existing firms : There are few existing firms in this Industry at the moment
but there exists a certain rivalry among the players so involved. Lithium ion batteries have
already been established into this industry, as they are the only existing source of energy
available at this point in time. Sodium ion batteries have huge competition from lithium ion
batteries as it is the more powerful source of energy but in the times to come due to the
abundance of sodium it will replace lithium as the source of energy. A lot of money is being
spend on Technological research for the same.