Professional Documents
Culture Documents
Business Overview
Our Mission:
Overview:
The Nepalese eyewear industry presents an exciting opportunity with
promising growth potential. Here's a breakdown of key aspects:
Market Size
Estimated market value in 2024: US$132.00 million
This indicates a steadily growing demand for eyewear in Nepal.
Target Market:
Diverse demographics, including:
o Urban population.
o Youthful segment embracing fashion trends.
Competitive Landscape:
Dominated by small, independent stores.
Growing online competition, particularly for sunglasses and fashion
eyewear.
Growth Drivers:
Increasing urbanization.
Rising awareness of eye health.
Growing fashion consciousness and demand for trendy eyewear.
Increasing online shopping trends.
Challenges:
Price sensitivity of consumers leading to preference for cheaper,
sometimes low-quality alternatives.
Dependence on imports for materials and finished products.
Conclusion:
The Nepalese eyewear industry is set for significant growth, driven by
various factors. We need to understand the market dynamics, address
local needs, and offer innovative products and services have the
potential to succeed in this exciting market.
1. CEO
2. Marketing Officer
3. Sales Manager
4. Store Manager
5. Advisor/Expert
6. Accountants/Cashiers
7. Human Resource Manager
8. Social Media Manager
Other than the Given Products we also change our products along with
the ongoing trends such as trendy frames which relate to our customers.
Sources of Income
We may not have the cheapest price but we sure have the best price to
product ratio.This quality of product cant be found in this price segment.
SWOT Analysis
Weakness
1. Competition
2. Financial Capacity
Opportunities
Threats
Operation Plan
How we make frame
• Our team come up with cool designs for photo frame, mixing modern
and classic vibes.
• We pick high quality materials like plastic, metal to make our frame
great and last long and pick the highest quality of glasses to make our
lenses
• We have team of skilled people who pay a lot of attention to make
sure each eyewear is perfect and user friendly
• Making sure that we have enough material to make frame and lenses
• We keep things updated and take care of our team.
• We want to be eco-friendly so we use recyclable plastic to reduce
carbon emission
Internal Risks:
Financial: Limited capital, poor financial management, unpredictable
costs.
Operational: Inefficient supply chain, production delays, quality control
issues.
Marketing & Sales: Ineffective marketing strategies, reaching the
wrong audience, low sales volumes.
Human Resources: Lack of skilled workforce, high employee turnover.
Mitigation Strategies:
Financial: Develop a comprehensive financial plan, secure funding,
manage costs effectively.
Operational: Establish reliable partnerships, optimize production
processes, implement quality control measures.
Marketing & Sales: Conduct thorough market research, develop
targeted marketing campaigns, offer competitive pricing, utilize
effective sales channels.
Human Resources: Provide competitive compensation and benefits,
invest in employee training and development.
External Risks:
Economic: Economic downturn, inflation, currency fluctuations.
Political: Political instability, changes in government policies,
import/export restrictions.
Competition: Increased competition from established players or new
entrants.
Technological: Disruptive technologies that change consumer behavior
or production methods.
Mitigation Strategies:
Economic: Monitor economic trends, diversify your offerings, adjust
pricing strategies.
Political: Stay informed about policy changes, diversify your supply
chain, build relationships with key stakeholders.
Competition: Differentiate your brand, offer unique products or
services, focus on customer service.
Technological: Stay updated on industry trends, adopt new technologies
when beneficial, invest in research and development.
Implementation Timeline
Pre-Launch
Month 1-2: Secure permits, research, design, secure funding, build
brand & marketing.
Month 3-4: Develop website, secure partners, establish production,
build inventory, launch pre-marketing.
Month 5-6: Finalize legal compliance, test products, consider soft
launch, finalize launch preparations.
Launch
Month 1: Official launch, marketing ramp-up, customer service setup.
Month 2-3: Monitor performance, adapt strategies, refine offerings.
Growth (Ongoing):
Expand products, markets, operations, marketing & sales, team
development.
Sustainability:
Integrate sustainable practices throughout operations and offerings.
Focus on local impact and empower communities.
Milestones achieved
Sugam Guitar Store and lessons is a premier destination for music enthusiasts,
providing a curated collection of guitars and accessories that resonate with
passion and quality. Located in Goldhunga, Kathmandu established with the
belief that every chord tells a story, we aim to create an immersive experience
for musicians of all levels. Our shop features best selection of guitars, ranging
from classic to cutting- edge, ensuring a diverse a diverse range for every
musical taste.
Our shop is more than a store, it's a destination for music enthusiasts. It is a
heaven for musicians seeking not just guitars but an immersive experience in a
welcoming and inspiring environment. Our team comprises passionate
musicians and experts who are dedicated to helping customers find the perfect
instrument and offering valuable insights on care, maintenance and
performance. We are building a community where musicians can collaborate,
learn and share their musical journeys. We specialize in providing guitar
enthusiasts with a curated selection of high-quality instruments, accessories,
and gear. From classic acoustic guitars to cutting-edge electric models, our
knowledgeable staff is here to guide you through your musical journey. Dive
into our diverse selection of guitars, amplifiers, pedals, and more, all carefully
curated to fuel your passion. Whether you're shredding on stage or strumming
by the campfire, we've got everything you need to make your music dreams a
reality.
Explore our array of guitars, from classic acoustic beauties to sleek electric
marvels, alongside a vast selection of amplifiers, effects pedals, and accessories.
Our knowledgeable staff are not just salespeople; they're fellow musicians
ready to share their expertise and passion. Whether you're a beginner or a
seasoned player, we're dedicated to helping you find the perfect guitar to match
your style and sound. Visit us today and discover the joy of playing at Strum &
Sound. Swing by, and let's make some beautiful music together!"
Vision Statement
Mission Statement
Market Analysis
Our shop mainly focuses on local audience who are keen to play guitar or learn
playing guitar. Our target market is mostly prioritized on music enthusiasts,
aspiring musicians and seasoned professionals. We focus on catering to both
traditional and contemporary music genres. Youth are mainly interested in
modern music styles and it is seen that rise in interest for guitars like acoustic-
electric and travel guitar are growing day by day. Cultural events, festivals and
weddings are the special occasions for the sales of our instruments.
Social media has been a huge marketing platform for sales and public
engagement. It will play a significant role in shaping customer preferences and
brand perception community-building activities such as workshops, jam
sessions and artist collaborations enhance customer engagement. Increasing
interest in guitar playing as a hobby among the youth is promoting the music
market in Nepal. Mainly beginners tend to be keen in purchasing guitar and
joining guitar lessons.
Competitive Landscape
Our main competitors are the local guitar shops and music stores promoting
international brands. Established guitar brands are our main competition as
they have already gathered their guitar loyal customers. Product range, pricing
strategy brand recognition, customer experience, online presence, community
engagement, distribution channels, market shares and growth, sharing strengths
and weakness etc. are some major factors to be considered to have existence
among these competitors. We have to evaluate the strength and weakness of
each competitor such as product exclusivity, pricing flexibility, potential gaps
in the offerings.
Researching about market share and growth patterns of competitors over the
past few years will be good move. Considering the accessibility of stores in
various locations, investigating online. Visibility of competitors through
websites, e-commerce platforms, accessing custom. reviews, social media
presence, accessing variety and quality of guitars offered, recognizing
international brands etc. can be done.
Management Team
1) Shop Owner
Sugam Timalsena (me) myself will be the owner of the shop contributing his
finds raised from and other sources. I will be responsible for overall business
operation. Having knowledge about guitars and the music industry, it would be
fair enough.
2) Sales Manager
Mr. Ram Baraili will be contributing in the position of sales manager who carry
4yrs experience of sales distribution. He will manage sales team and
implements sales strategies. He is customer-oriented with strong
communication skills.
6) Inventory Manager
Mr. Krishna Baral will look after the stocks and their levels. He will manage
the ordering process and monitor product trends and adjust inventory
accordingly. Coordinating with suppliers for timely deliveries falls under his
work.
Not only guitars, our shop also provides accessories like: Guitar strings, Picks
and plectrums, straps, stands, cases, gig bags and racks. We also have
customization services consisting personalized paint, custom pickguard designs,
upgrades and modifications. Some of our mon services include:
2) Customization
Customization services to personalize guitars according to the customer's
preferences, such as installing new pickups, upgrading hardware, or adding
custom paint or graphics.
3) Guitar lessons for beginners and workshops
We also provide guitar lessons for individuals who are keen in learning to play
instruments. Our guitar expert Mr. Kush Shrestha will be giving you guitar
lessons and tutorials. Our other services include:
1) Rental Services
2) Online Sales
3) Trade-In programs
Financial Plans
Performance Indicators
Revenue
Sales of Guitars and Accessories NPR 200,000
Guitar Lessons and Workshops NPR 90,000
Repair and Maintenance Services NPR 90,000
Other Revenue NPR 80,000
Total Revenue NPR 410,000
Cost of Goods Sold:
Cost of Guitars and Accessories Sold NPR 80,000
Cost of Guitar Lessons and Workshops NPR 20,000
Cost of Repair and Maintenance Services NPR 20,000
Total Cost of Goods Sold NPR 120,000
Operating Expenses:
Rent NPR 70,000
Salaries and Wages NPR 100,000
Marketing and Advertising NPR 20,000
Total Operating Expenses NPR 190,000
Strengths Weakness
Unique Product Offering Limited Market Size:
Operational Plan
Mitigation Measures
Implementation Timeline
Our implementation timeline spans several critical phases, beginning with the
pre-launch preparations and extending into the operational launch and ongoing
management of the business. In the initial phase, lasting approximately 1-2
months, we will focus on securing a suitable location for the shop, conducting
market research to understand customer preferences and competition, and
establishing relationships with suppliers and distributors for inventory
procurement.
Simultaneously, we will develop the shop's branding, including logo design,
signage, and marketing materials, and begin building an online presence
through website development and social media setup. The next phase, spanning
1-2 months, will involve finalizing the shop's layout and interior design,
completing necessary renovations or construction work, and installing fixtures
and equipment.
Additionally, we will hire and train staff, including sales associates, music
instructors, and repair technicians, to ensure exceptional customer service and
expertise. Finally, in the operational launch phase, lasting approximately 1
month, we will conduct a soft opening to test operations, gather customer
feedback, and make any necessary adjustments before the grand opening.
Following the launch, ongoing management will involve continuous
monitoring of sales performance, customer feedback, and market trends, with
regular reviews and adjustments to strategies and operations as needed to
ensure the shop's long-term success.
Exit Strategy
Blossom Bistro is a unique restaurant that combines the beauty of Flowers with culinary excellence
to create a memorable dining experience. Located in Prime Urban Area, our restaurant will offer
diverse menu inspired by fresh and edible Flowers, providing customers with a visually stunning
and delightful experience Our mission is to become a sought-after destination for those seeking a
unique and elegant dining experience. Blossom Bistro, where every dish tells a story of
Kathmandu's rich culinary heritage. Nestled in the heart of Basantapur, Kathmandu, our restaurant
offers a vibrant dining experience that celebrates the flavors, aromas, and traditions of Nepal. At
Blossom Bistro, we believe in more than just serving delicious food; we strive to cultivate
moments of connection and celebration, where every bite tells a story and every dish carries the
legacy of generations past. Join us at Blossom Bistro, where every meal is a celebration. Inspired
by the vibrant colors and delicate aromas of flowers, we offer a unique dining experience that
celebrates nature’s beauty while tantalizing your taste buds.
Company Description
Blossom Bistro aims to revolutionize the restaurant industry by integrating flowers into every
aspect of the dining experience. From the decor to the menu, customers will be immersed in a
world where the beauty of nature meets the artistry of culinary creation. The size of our company
will depend on scale of operations, customer demand, and expansion plans.
• Moderate staff size, including chefs, kitchen staff, servers and managerial roles.
1) Flora Food
2) Snack
3) Porridge
4) Flora soup
5) Flora drinks.
Mission:
To delight customers with a unique Fusion of Flowers and foods, creating an unforgettable
experience that appeals to all sense
Market Analysis
Target Market
Our target market includes individuals who appreciate fine dining, are interested in unique culinary
experience, and have an appreciation for aesthetics Additionally, we cum to attract event planners
looking for distinctive venues for special Locations. In recent years, it is becoming a world wide
Fashion using Flowers as the ingredients to make various food, Flora food is becoming a new
trend. In the context of Nepal, beverage market, natural flowers and plank are booming, they are
with rich nutrition, no pollution and deeply welcome by consumers
Therefore, the flora food and drinks will have a great potential and deeply market, Currently, in
Nepal, there is no an exclusive restaurant, serving with Flora food, there Fore it has a large market
perspective. In addition, there are not so many high class restaurants have traditonal cultural
characteristics, therefore could be a large potential.
Marketing Plan
1. Online presence Develop a visually appealing and user friendly website, engage in social media
marketing, and leverage online platforms for reservation and promotion.
2. Partnerships - Collobrate with local florists, event planners, and businesses Por cross promotion
and special events.
3. Community engagement Participate in local events, sponser Flower festivals, and engage with
me community. to build brand awarness
4. Loyalty Program :-
Implement a loyalty program to reward frequent customers und encourage repeat business
Define a unique selling proposition that sets your flower-based restaurant apart from competitors.
6. Menu Development:
Develop a menu that incorporates edible flowers or floral-inspired dishes. - Offer a variety of
options to cater to different dietary preferences and requirements.
Create a visually appealing interior design with floral decorations and a soothing ambiance.
Ensure the decor complements the overall theme of the restaurant and enhances the dining
experience..
2. kitchen operations: Vire skilled chets with experience in creating innovative flower-
infused dishes Implement efficient kitchen process to ensure imely and high quality
food preparation.
6. Health and Safety Compliance: Ensure compliance with health and safety regulations
related to handling and serving edible flowers. - Implement food safety protocols to
maintain the freshness and quality of ingredients.
7. Financial Management: - Develop a budget that accounts for start-up costs, operating
expenses, and potential revenue streams. Monitor finances regularly to ensure
profitability and adjust the business plan as needed.
SWOT ANALYSIS
Strengths:
1. Unique concept: A flower-based restaurant will offer a unique and attractive dining
experience that can set it apart from other restaurants in the area.
2. Aesthetic appeal: The use of flowers in the restaurant's decor and dishes can create a
visually appealing ambiance that attracts customers and enhances their dining experience.
3. Health benefits: Flowers are known for their various health benefits and can be used in
dishes and beverages to offer a healthy menu to health-conscious customers.
5. Collaboration opportunities: The restaurant can collaborate with local florists or gardeners
to source fresh and unique flowers, creating a network of partnerships that benefit both parties.
Weaknesses:
1. Seasonal availability: Depending on the types of flowers used in the menu, there may be
seasonal limitations on the availability of certain ingredients, which could impact menu
consistency.
2. Cost of ingredients: Certain exotic or rare flowers may be expensive and drive up the overall
food cost, potentially limiting the restaurant's ability to maintain competitive pricing.
3. Limited target market: Not all customers may appreciate or be willing to try flower-based
dishes, which could limit the restaurant's appeal to a niche market segment.
4. Skills and knowledge: The restaurant staff may require specific training and expertise in
handling and preparing flower-based dishes, which could pose a challenge in terms of
recruitment and training.
Opportunities:
2. Events and catering: The restaurant can explore opportunities in providing floral catering
services for events, weddings, or special occasions, expanding its revenue streams.
3. Partnerships with local suppliers: Collaborating with local flower suppliers can provide access
to a variety of fresh flowers and unique ingredients, enhancing the restaurant's menu offerings.
4. Menu innovation: Continuously experimenting with new recipes and incorporating seasonal
flowers can attract repeat customers and keep the menu fresh and exciting.
5. Online presence: Leveraging social media and online platforms to showcase the restaurant's
unique offerings and ambiance can help reach a wider audience and attract customers.
Threats:
1. Competition: The restaurant may face competition from existing restaurants in Basantapur or
new entrants offering similar unique concepts.
2. Economic factors: Fluctuations in the economy, currency exchange rates, or inflation could
impact consumer spending habits and affect the restaurant's profitability.
3. Regulatory challenges: Compliance with food safety regulations and licensing requirements for
handling and serving edible flowers may pose challenges for the restaurant.
4. Health and safety concerns: Improper handling or consumption of certain flowers can pose
health risks, leading to potential liabilities for the restaurant.
5. Changing consumer preferences: Shifts in consumer trends or preferences towards other dining
concepts may affect the demand for flower-based dishes, requiring the restaurant to adapt its
offerings.
Risk Analysis and Mitigation:
1. Identifying Potential Risks and Challenges: Seasonal variations in flower availability leading
to supply chain disruptions.Fluctuating demand for flower-based dishes affecting revenue.
Regulatory compliance issues related to food safety norms for using edible flowers.Competition
from other restaurants in Basantapur area offering similar concepts.Operational challenges such as
staffing issues, equipment failures, or utility outages.
2. Developing Strategies to Mitigate and Manage These Risks: Diversify the sourcing of flowers
from multiple suppliers to reduce the impact of supply chain disruptions.Conduct market research
to understand the demand for flower-based dishes and introduce a varied menu to cater to changing
preferences.Partner with local authorities to ensure compliance with food safety regulations for
using edible flowers.Implement marketing strategies to differentiate the restaurant from
competitors and attract customers with unique offerings. Develop a robust recruitment and training
program to address staffing challenges and maintain service standards. Regularly maintain
equipment and have contingency plans in place for utility outages.
Supply Chain Disruption:Maintain buffer stock of essential flowers, establish relationships with
backup suppliers.
Fluctuating Demand:Offer seasonal menus, diversify the product offerings beyond flower-based
dishes.
Regulatory Compliance Issues:Regularly update staff training on food safety practices, maintain
proper documentation.
Operational Challenges: Have backup equipment available, cross-train staff for operational roles,
and maintain an emergency contact list for utility repair services.
NCCS SECONDARY SCHOOL
PAKNAJOL,KATHMANDU
BUSINESS PLAN
DRAFT
BLOSSOM BISTRO
SUBMITTED BY: SUBMITTED TO:
CLASS: 12 ‘C’
ROLL NO: 3
Legal Structure:
The Blossom bistro restaurant in Basantapur, Kathmandu, is set up as a sole
proprietorship, where a single individual owns and operates the restaurant.
Key Members of the Management Team:
1. *Owner/Manager*: The owner Afjal Hussien plays a crucial role in overseeing the
overall operations of the Blossom bistro restaurant. Responsibilities include strategic
planning, financial management, vendor relationships, and customer service.
2. *Head Chef*: The head chef Birat lama is responsible for menu planning, culinary
innovation, kitchen operations, and ensuring the quality and presentation of food. This
individual should have significant experience in the culinary field, creativity in menu
development, and strong leadership skills to manage the kitchen staff effectively.
3. *Operations Manager*: The operations manager Pema lama oversees the day-to-day
running of the restaurant, including staffing, scheduling, customer service, and ensuring
operational efficiency. This individual should have experience in restaurant
management, excellent organizational skills, and a customer-centric approach.
4. *Marketing Manager*: Rickson lama is responsible for promoting the restaurant,
attracting customers, and increasing brand visibility. This role requires skills in digital
marketing, social media management, and PR to create effective marketing campaigns
and collaborations with influencers or local businesses.
MATH REPORT ON
PERMUTATION AND COMBINATION
CLASS: 12 ‘C’
ROLL NO:3
Business Description
Hamro Photo Frame is a standard photo framing store that will be in one of the busiest roads
in Kathmandu, Swayambhu. Hamro Photo Frame will be involved in providing custom
photo framing services and sell ready-made frames and other craft supplies to a variety of
customers.
We are aware that there are several photo framing stores all around Kathmandu which is
why we spent time and resources to conduct our feasibility studies and market survey to
offer much more than our competitors will be offering.
We know that our customers are the reason why we are in business which is why we will go
the extra mile to get them satisfied. We have a CRM (Customer Relationship Management)
that will enable us to manage a one-on-one relationship with our customers no matter how
large they may grow to. We will ensure that we get our customers involved when making
some business decisions that directly affect them.
• Classic Frames
• Modern Style Frame
• Limited edition Frames
• Providing custom photo framing
• Selling ready-made frames
Market analysis
Market Trends
Despite a highly competitive environment, the photo framing stores industry has achieved
modest growth over the last five years. In this era when the online community is growing
rapidly, we would do our business a whole lot of Favor if we create our own online presence.
There are lots of people who can’t do without having framed pictures and even framed
artworks in their houses or offices. In view of that, we have positioned our photo framing
store to service residents of Swayambhu Kathmandu and the entire Nepal via our online
store. We have conducted our market research, and we have ideas of what our target market
would be expecting from us.
We are in business to retail a wide range of photo frames to the following groups of people;
• Photographers and photo studios
• General Consumers
• Interior Designer
• Gift Shop
• Tourist
• Event Planner
• School and Educational Institute
• Artists and Crafters
A close study of the photo framing industry reveals that the market has become much more
intensely competitive over the last decade. As a matter of fact, you must be highly creative,
customer centric and proactive if you must survive in this industry. We are aware of the stiff
competition, and we are prepared to compete favourably with other leading photo framing
stores
Hamro Photo Frame is launching a standard photo framing store that will indeed become
the preferred choice for art lovers in and around Kathmandu. Our picture framing store is in
a busy road Swayambhu Kathmandu where lots of tourist visit.
Our intention going into the photo framing business is to build a standard photo framing
store. We will ensure that we hire people that are talented, qualified, honest, customer centric
and are ready to work to help us build a prosperous business that will benefit all the stake
holders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior
management staff, and it will be based on their performance for a period of ten years or
more. In view of that, we have decided to hire qualified and competent hands to occupy the
following positions:
• Classic Frames
• Modern Style Frame
• Limited edition Frames
• Providing custom photo framing
• Selling ready-made frames
Sources of Income
Hamro Photo Frame is in business to produce and retail a wide range of photo frames to the
resident of Kathmandu and whole over Nepal via our online store. We are in the photo
framing store industry to maximize profits and we are going to ensure that we achieve or
business goals and objectives.
Before choosing a location for Hamro Photo Frame we conducted a thorough market survey
and feasibility studies for us be able to penetrate the available market and become the
preferred choice. We have detailed information and data that we were able to utilize to
structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the industry to help us develop marketing
strategies that will help us achieve our business goal of winning a larger percentage of the
available market. In summary, Hamro Photo frame Store, will adopt the following sales and
marketing approach to win customers over:
• Introduce our picture framing store by sending introductory letters alongside our
brochure to organizations, photo studio, gift shop, photographers, artists, interior
decorators, in Kathmandu.
• Ensure that we always have a wide range of photo frame.
• Position our banners at strategic places around Swayambhu.
We know we don’t have the capacity to compete with bigger and well-established picture
framing stores, but we will ensure that the prices of all the products that are available in our
store are competitive with what is obtainable amongst picture framing stores within our level.
In view of the above, we have chosen banking platforms that will enable our clients make
payment for the purchase of our photo frames and framing services without any stress on
their part. Our bank account numbers will be made available on our website and promotional
materials.
SWOT Analysis
Our intention of starting just one outlet of our picture framing store in Swayambhu
Kathmandu is to test run the business for a period of 2 to 5 years to know if we will invest
more money, expand the business and then open other outlets in key regions within Nepal.
We are quite aware that there are several photo framing stores all over Kathmandu and even
in the same location where we intend locating ours, which is why we are following the due
process of establishing a business.
This is the summary of the SWOT analysis that was conducted for Hamro Photo Frame.
Strength:
Our location, the business model we will be operating on (physical and online picture
framing store), varieties of payment options, wide range of uniquely designed picture frames
and related products and our excellent customer service culture will count as a strong
strength for Hamro Photo Frame.
Weakness:
A major weakness that may count against us is the fact that we are a new photo framing
business, and we don’t have the financial capacity to compete with Big other manufacturer
company who are into picture framing and who are already determining the market direction
for the industry in Kathmandu.
Opportunities:
The fact that we are going to be operating our photo framing store in one of the busiest
streets in Kathmandu provides us with unlimited opportunities to sell our photo frames to a
large number of people.
Threat:
The Photo Framing Stores industry is expected to continue its downward due to changing
consumer tastes and mounting external competition hence posing a threat to our business.
So also, just like any other business, one of the major threats that we are likely going to face
is economic downturn.
It is a fact that economic downturn affects purchasing/spending power. Another threat that
may likely confront us is the arrival of a new picture framing stores in same location where
ours is located.
Operation Plan
• Our team come up with cool designs for photo frame, mixing modern and classic
vibes.
• We pick high quality materials like wood, metal to make our frame great and last long.
• We have team of skilled people who pay a lot of attention to make sure each frame is
perfect.
• Making sure that we have enough material to make frame.
• We keep things updated and take care of our team.
• We always look ways to be eco-friendly.
Market Risk:
Risk: Fluctuations in demand for photo frames due to changing consumer preferences,
economic downturns, or shifts in the retail landscape.
Mitigation Strategies:
• Stay updated on industry trends and adapt product designs accordingly.
• Establish relationships with multiple distribution channels to reach a broader
customer base.
Competitive Risk:
Risk: Intense competition from other photo frame manufacturers, including larger
companies with greater resources and established brands.
Mitigation Strategies:
• Differentiate your products through unique designs, customization options, or
superior quality.
• Focus on building strong relationships with customers through exceptional service
and support.
• Continuously monitor competitor activities and adjust your marketing and pricing
strategies accordingly.
Financial Risk:
Risk: Cash flow problems, insufficient funding for expansion or operational needs, or
unexpected expenses.
Mitigation Strategies:
• Develop a detailed financial plan with realistic revenue projections and expense
forecasts.
• Maintain a cash reserve to cover unexpected expenses or temporary cash flow
shortages.
• Explore financing options such as loans, lines of credit, or equity investment to
support business growth.
• Monitor financial performance regularly and take proactive measures to address any
emerging issues.
Implementation Timeline
From our findings, another factor that kills new businesses is financial leakage. In order to
plug financial leakages, we adopt the use of payment machine and accounting software to
run the business.
We are quite aware that our customers are key component to the growth and survival of our
business hence we are going to continuously engage them to give us ideas on how to serve
them better and the types of photo frames they want to see in our store.
Our company’s corporate culture is designed to drive our business to greater heights and
training and retraining of our workforce is at the top burner. We know that if that is put in
place, we will be able to successfully hire and retain the best hands we can get in the
industry; they will be more committed to help us build the business of our dreams.
Generating Funds/Startup Capital for Hamro Photo Frame
Hamro Photo Frame is a private business that is owned and financed by Shreejan Rijal and
his immediate family members. They do not intend to welcome any external business
partners which is why he has decided to restrict the sourcing of the startup capital to 3 major
sources.
Check List/Milestone