Company Overview

NAME OF THE COMPANY: RAKA HERBS

LOCATION: KAIJ, BEED

CONTACT DETAILS:

MOBILE NUMBER -9822822416

EMAIL ID – domberakesh.20@gmail.com.

Name of the owner: Mr. Rakesh Rajan Dombe.

VISION –

To be a leading herbal company in India.

Mission –

We produce high-quality products at a competitive price using modern technology to provide

high satisfaction to consumers.

Target Market –

• Upper class

• Middle class
 • Lower class

• All types of groups

According to statistics, the global male grooming market is estimated to be worth about
29.14 billion U.S. dollars in 2024. We can easily note that there has been a major shift in male
pampering culture during the last decade. Men’s toiletries used to consist of shampoo,
deodorant, shaving cream, and not much else.

But all over the world now, bathroom cabinets of middle-class homes are stocked with
moisturizers, facial cleansers, eye serums, bronzers, concealers, anti-agers, and even mud
masks—all designed specifically for men.

At this age, men are beginning to spend more on male-specific toiletries than on shaving
products. The report has it that the sale of skincare, in particular, boomed; and this is no going
back now. More and more men are putting higher stock into looking good. It is now more about
self-confidence as much as anything else, and the desire to feel more attractive, more
successful, and increasingly, more youthful.

You have to understand that tapping into the global demand for men’s grooming products is a
daunting task; especially for business owners that have spent decades establishing female
consumers. A lot of major companies in this industry are fundamentally associated with
women. That is why smaller companies specializing in men’s grooming products have
leveraged this weakness.

According to reports, the industry should expect to witness a further segmentation of men’s
grooming, especially in the developed markets while these are opportunities for stronger
development. In skin care, this will be growth in products designed not only for different skin
types but also for different degrees of stubble.

The number of product launches for men will still be low in comparison with products for
women, of course, but the gap will narrow over time. Notwithstanding, the global Beard Oil
Market is projected to expand at a CAGR of 4.0% during the forecast period from 2018 to
2025.
It is believed that facial hair has evolved from shabby to trendy, and the movement has created
an opening for new beauty products. Beard-related products such as oils and softeners represent
less than 1 percent of the men’s grooming market.

 Executive Summary

Rakas Beard OIL is a new business in beed that produces hand-made herbal products created
by Rakesh dombe, the company founder. Our products at Rakas Beard OIL include herbal
beard oil, herbal hair shampoo, herbal therapy packs, soaps, balsam eye packs, salves,
moisturizers, herbal bath bags, and bath powder.

All our products at Rakas Beard OIL are made from herbs that are either garden grown or
gathered in local fields or wooded areas when they are at their peak of maturity and the
concentration of active ingredients is highest. Herbal products have grown in popularity with
consumers over the few months.

With a robust CAGR of 7.6%, the global market for herbal medicinal products is expected to
represent an absolute opportunity.

This was a time when a customer would have to go to a specialty shop to get herbal products,
now those same products are available at the local Supermarket. The demand has created a
unique industry that supplies herbal products to companies that then market the product under
their brand name.

We at Rakas Beard OIL plan to sell our products to herbal product companies that sell baskets
with specific themes (such as beard oil, balsam salve, and eye packs).

 Our products and services

Our product line at Raka Herbs will include the following:

• Beard oil is made from a blend of herbs, oils, and essential oils selected to keep the
beard shiny while delivering nutrients for a healthy beard. Essential oils and Neem Oil
 have been added as they have anti-microbial, anti-fungal properties that keep the beard
clean

• Soaps created with such herbs as powdered balsam and Rose petals marbleized
throughout each cake and gently scented.
• Herbal bath bags of lavender, peppermint, oatmeal, and herbs.
• Bath powder is made from arrowroot, corn starch, rose petals, and this herb.
• Herbal Therapy Packs for back and neck pain and relief of muscle aches, filled with
wheat berries and flax seed, and 10 herbs. These are made of natural cotton or patterned
flannel and can be heated in the microwave oven or cooled in the freezer for optimum
benefit.
• Balsam eye packs in eye-pleasing patterns that help relieve sinus discomfort and
eyestrain

• Salves with Comfrey for healing cuts, Goldenseal, Balsam, and other herbs for use on
split skin caused by the drying effects of heat, cold, or water.
• Moisturizer for face and hands with various scented oils.

 OUR VISION AND MISSON STATEMENT

• Our vision at Raka Herbs is to produce unique and affordable herbal products that will
be seen as a vital alternative to modern care products.
• The mission at Raka Herbs is to make herbal products that heal and soothe and cleanse
our customers.

Our Business Structure

RakaHerbs is a provider of herbal products including herbal beard oil, herbal therapy packs,
soaps, balsam eye packs, salves, moisturizers, herbal bath bags, and bath powder. We plan to
sell our product line to herbal product companies that sell baskets with specific herbal themes.
Raka Herbs is owned by Rakash dombe. He has worked as a merchandise Manager for both
Knight Herbal Products and Hygienic Oil.

His good experience in managing staff has built his business from a part-time business to its
current production level. Note that our current staff should be enough for the years of operation.
We plan to hire and train more as we grow and expand. Below are the portfolios we already
have at RakaHerbs;

• Chief Executive Officer (Owner)

• Company Manager
• Human Resources and Admin Manager
• Merchandise manager
• Sales and Marketing Officer
• Accountants
• Company Casual Workers
• Drivers
• Customer Service Executives

 Job Roles And Responsibilities

• Chief Executive Officer

• Increases management’s effectiveness by recruiting, selecting, orienting, training,

coaching, counseling, and disciplining managers; communicating values, strategies, and
objectives; assigning accountabilities; planning, monitoring, and appraising job results;
developing incentives
• Creates, communicates, and implements the organization’s vision, mission, and overall
direction – i.e. leading the development and implementation of the overall organization’s
strategy.
• Tasked with fixing prices and signing business deals
• Tasked with providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall
direction – i.e. leading the development and implementation of the overall organization’s
strategy.
• Tasked with signing checks and documents on behalf of the company
• Evaluates the success of the organization

Company Manager
 • Tasked with overseeing the smooth running of the company
• Makes sure that quality is maintained at all times
• Maps out the strategy that will lead to efficiency amongst workers in the company
• Tasked with training, evaluation, and assessment of the workforce
• Make sure that the company meets the expected safety and health standards at all times.

Human Resources and Admin Manager

• Tasked with overseeing the smooth running of HR and administrative tasks for the
organization
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Tasked with training, evaluation, and assessment of employees
• Oversees the smooth running of daily business activities.

Merchandise Manager

• Manages vendor relations, market/garden visits, and the ongoing education and
development of the organizations’ buying teams
• Ensures consistent quality and quantity of all herbs and inventories
• Tasked with the purchase of herbs and measuring materials (bottles, plastics et al)
• Tasked with planning sales, monitoring inventory, selecting the merchandise, and writing
and pricing orders to vendors

Sales and Marketing Manager

• Manages external research and coordinates all the internal sources of information to retain
the organization’s best customers and attract new ones
• Models demographic information and analyses the volumes of transactional data generated
by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company

Company Casual Workers

• Tasked with operating synthetic production equipment
• Tasked with measuring and filling products into various containers
• Tasked with carrying out all casual or unskilled jobs in the company
• Assists in loading and unloading of herbs and processed products
• Handles any other duty as assigned by the company manager
• Tasked with preparing financial reports, budgets, and financial statements for the
organization
• Provides management with financial analyses, development budgets, and accounting
reports
• Tasked with financial forecasting and risk analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Tasked with developing and managing financial systems and policies
• Tasked with administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as an internal auditor for the organization

Drivers

• Assist in loading and unloading finished products

• Maintain a logbook of their driving activities to ensure compliance with federal regulations
governing the rest and work periods for operators.
• Keep a record of vehicle inspections and make sure the truck is equipped with safety
equipment
• Assist the company manager in planning their route according to a delivery schedule.
• Inspect vehicles for mechanical items and safety issues and perform preventative
maintenance
• Comply with truck driving rules and regulations (size, weight, route designations, parking,
break periods, etc.) as well as with company policies and procedures
• Collect and verify delivery instructions
• Report defects, accidents, or violations

Client Service Executive

• Make sure that all contacts with the customer (e-mail, walk-In center, SMS, or phone)
provide the client with a personalized customer service experience of the highest level
 • Through interaction with customers on the phone, uses every opportunity to build client’s
interest in the company’s products and services
• Manages administrative duties assigned by the company manager in an effective and timely
manner
• Consistently stays abreast of any new information on herbal products, promotional
campaigns, etc. to Make sure accurate and helpful information is supplied to customers
when they make inquiries

 SWOT Analysis
Our objective at Raka Herbs is to achieve a sales goal of $240,000 during the first year of operation.
Within our first year, we also want to establish a regular customer base of 15 companies and
increase our sales by 15% during the second year of operation. All these are not mere words as we
are determined to render impeccable services and satisfy the needs of our clients while also making
profits.

We were able to understand our strengths, our weakness, our opportunities, and also the threats that
we are likely going to be exposed to in our immediate business environment. Highlighted below is
the result of our SWOT analysis presented by Lincoln and Partners Consult.

According to our SWOT Analysis, our strength at Raka Herbs is the expertise and experience of
our founder and CEO. Rakash dombe has worked as a merchandise Manager for both Knight
Herbal Products and Hygienic Oil. He is experienced in managing staff. Within the past two years,
Rakash has built his business from a part-time business to its current production level. He knows
the industry in and out and has built contacts in the industry

• Weakness

The SWOT Analysis conducted also noted that our weakness at RakaHerbs will be the intense
competition awaiting us in this industry. There are other herbal companies in Beed that may offer
the same product as us. But we at Raka Herbs differ from them because we do not target the general
public. Our aim at Raka Herbs is to target those companies that sell to the general public and supply
them with our uniquely manufactured herbal products.
 • Opportunities

Herbal products in recent years have grown in popularity. With an interesting CAGR of 7.6%, the
global market for herbal medicinal products is expected to represent an opportunity. This was a
time when a customer would have to go to a specialty shop to get herbal products, but now those
same products are available at the local supermarket. The demand has created a unique industry
that supplies herbal products to companies that then market the product under their brand name.

• Threat

According to our SWOT Analysis, the only threat we will be facing in this business will be
ourselves. We need to plan and implement a successful marketing strategy to be able to declare our
intentions in the industry. We have to follow our business plan and grow our business judiciously
and also stay current with world herbal trends. Another threat we might face will be the scarcity of
herbs and oils or the destruction of our herbs by pests and other things.

 MARKET ANALYSIS

• Market Trends
• In this industry, businesses always strive to locate their production companies close to
communities where they can easily have access to fresh and cheap herbs and oils. Once a
company makes the mistake of choosing a location where they have to travel a long distance
to find herbs in commercial quantities, they will always have issues making profits and
maintaining overhead and logistics.

• Successful companies in this industry tend to expand their services beyond their business
location, they expand to other regions in the country and even to other countries. They also
work hard to ensure they own their farm and herbs. With that, it is easier for them to
maximize profits and grow the business.

• Herbal health products dominate sales but herbal beauty products have been growing in
popularity each year.

• Most of these companies are regionally focused but 15% of them distribute their products
nationally. This is compared to only 2,000 herbal beauty product companies. Statistics have
it that most of these companies also only compete regionally through these handfuls (4%)
 that dominate the national market. As sales grow in an herbal beauty product, more new
companies will enter the marketplace

 Our Target Market

• We at Raka Herbs plan to focus on small companies serving Beed and the Beed. We believe
that some of these smaller companies aggressively seek out new products that they can add
to their product line. They understand the huge overhead that comes with manufacturing
all these items themselves so they contract third-party vendors to supply them with
products. We at Raka Herbs plan to focus on two target companies: Herbal Heath

Products

• All these companies buy raw or finished products from third-party vendors. Their products
are sold in health and natural food stores in Beed.

• Herbal Beauty Products

Beed is also home to some small-to-medium herbal beauty product companies s All of these
companies buy raw or finished products from third-party vendors. Most of their products
are sold in health and natural food stores only all over Beed.

Our competitive advantage

We at Raka Herbs plan to focus first on establishing a client base with herbal health product
companies. Our CEO, Rakash dombe, and our marketing manager will be responsible for
marketing the company’s services to potential customers. We have already acquired supply
contracts with Concord Habs and Vistula Products. Our competitive advantage at Raka
Herbs is the consistent quality of the herbs that are at the core of each product. Our products
have been tested locally for years, sustaining and establishing the customer satisfaction
level demanded by RakaHerbs.
  SALES AND MARKETING STRATEGY

• Marketing and Sales strategy

We at Raka Herbs will market our company’s product line at regional craft fairs. Our CEO and
Marketing manager will be tasked with coordinating and participating in presentation meetings
with herbal company representatives. In addition, they will regularly send free samples to our
potential clients so that they can experience the quality of Tico Herbal products firsthand. The key
to our marketing will be face-to-face sales. We also plan to create a website.

This site will be designed to promote Raka Herbs products, list a calendar of our craft fair
appearances, and initially, offer a selection of our most popular products for direct web sales. We
have contracted XYZ technologies, and an E-commerce Consultancy Company for the design,
hosting, and search engine placement of the website.

Sources of Income

We at Raka Herbs plan to generate funds by producing herbal products and supplying them to
companies that then sell to the general public. The herbal products we plan to produce and generate
steady income from include;

• Beard oil is made from a blend of herbs, oils, and essential oils selected to keep the beard
shiny while delivering nutrients for a healthy beard. Essential oils and Neem Oil have been
added as they have anti-microbial, anti-fungal properties that keep the beard clean.
• Soaps created with such herbs as powdered balsam and rose petals marbleized throughout
each cake, gently scented.
• Herbal bath bags of lavender, peppermint, oatmeal, and herbs.
• Bath powder is made from arrowroot, corn starch, Rose petals, and other herbs.
• Herbal Therapy Packs for back and neck pain and relief of muscle aches, filled with wheat
berries and flax seed, and 10 herbs. These are made of natural cotton or patterned flannel
and can be heated in the microwave oven or cooled in the freezer for optimum benefit.
• Balsam eye packs in eye-pleasing patterns that help relieve sinus discomfort and eyestrain.
• Salves with Comfrey for healing cuts, Goldenseal, Balsam, and other herbs for use on split
skin caused by the drying effects of heat, cold, or water.
• Moisturizer for face and hands with various scented oils.
Sales Forecast
Our company founder, Rakash dombe has a few years of experience in the herbal product industry.
He has worked as a merchandise Manager for both Herbal Products in the company. He has
maintained his contacts in the industry and has already signed contracts with two companies to
supply herbal products.

He will build on these successes and market our product line to herbal product companies through
face-to-face selling. We at Raka Herbs expect that sales will start quickly. The first billing will be
sent out in mid-May 2022. Outlined below are our sales projections…

Publicity and Advertising Strategy

We at Raka Herbs plan to provide our clients with the products and services they want for the right
price. We plan to maintain an extensive marketing campaign that will ensure maximum visibility
for the business in our targeted market. Below is an overview of the publicity and advertising
strategies for RakaHerbs;

• We plan to establish relationships with herbal products companies within our target market.
• We will place adverts on both print (community-based newspapers and magazines) and
electronic media platforms. We will also advertise our services in industry magazines,
healthcare magazines, and other relevant healthcare programs on radio and TV
• We plan to also sponsor relevant community-based events
• We also plan to engage in roadshows from time to time
• We also plan to distribute our fliers and handbills in target areas all around Beed
• We plan to make sure that all our workers wear our branded shirts and that all our official
vehicles are well-branded with our company’s logo
• We will also leverage various online platforms to promote our business. That will make it
easier for people to enter our website with just a click of the mouse. We will take advantage
of the internet and social media platforms such as; Instagram, Facebook, Twitter, YouTube,
Google + et al to promote our brand
• We also plan to mount our billboards in strategic locations all around Beed.

Our Pricing Strategy

Our goal at Raka Herbs is to provide our customers with unique services and product knowledge,
to build our marketing plan to reach our target market, while also maximizing profits That is why
to get the right pricing for our products we need to make sure that we choose a good location for
our business, choose our suppliers wisely, reduce our overhead costs to the smallest minimum and
make sure we attract clients to our business, as against taking our products to the market to source
for buyers; with this, we would have successfully removed the cost of transporting the goods to the
market.

• Payment Options

• With our unique customer approach to business, we plan to offer our customers different
payment options as it suits them. We plan to make sure that we provide them with payment
options that will make their transactions less stressful and very open. Listed below are the
payment options we at Raka Herbs plan making available to our customers; Payment via
bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via POS

 Startup Expenditure (Budget)

RakaHerbs is a provider of herbal products including herbal Beard oil, herbal therapy packs, soaps,
balsam eye packs, salves, moisturizers, herbal bath bags, and bath powder. We plan to sell our
product line to herbal product companies that sell baskets with specific herbal themes.

Raka Herbs is located in a 2,000-square-foot manufacturing space in Beed. The start-up expense
for Raka Herbs is focused primarily on production and extraction equipment. Below is a detailed
analysis of how we intend to spend our startup capital:

• Our budget for key insurance policies, permits, and business licenses – is ₹ 1,00000
• The cost of acquiring/leasing our facility and land – is (₹) 25,00000
• The budget for preparing our company– is (₹) 16,00000
• The price for acquiring the required working tools and equipment – is (₹) 64,000,000
• The price of Launching an official Website – is (₹) 60000
• The budget for paying our workers for 1 year – (₹) 500,000
• Other business requirements (Business cards, Signage, Adverts, and Promotions et al) – (₹)
2,0000
• Miscellaneous – (₹) 5,0000