B&T FUTURE HOPE FOUNDATION VOCATION INSTITUTE, GHANA
SCHOOL NAME, COUNTRY
BUSINESS PLAN
Henry Mensah, Evelyn Zigah, Robert Dadzie, Rita Addo,Charity Mills, Diana demenya
Written by STUDENT 1, STUDENT 2, STUDENT 3, STUDENT 4, STUDENT 5, STUDENT 6
Kingsford Ben Dadzie
LEAD TEACHER
Created as part of the School Enterprise Challenge Awards Programme – Bronze Level
Section A: Our Business DetailsBusiness Name / What we learn becomes part of who we are
Business Activity / Marketing of B&T Future Hope Foundation Vocational Institute Fashion Design
Main product / service / Children, Men and women fashion design clothes
No. of students involved in business planning activities (including writing this Business Plan) / Boys 6 / Girls 10 / Total 16
Financial Summary
Our Local Currency is:______ / US Dollars $
Period of time budgeted for / 6 month
Total Income (Estimated) / 47800.00 / 10820.77
Total Costs (Estimated) / 38240.00 / 8656.62
Profit (Estimated) / 12160.00 / 2748.05
Start-Up Costs (Estimated) / 23400.00 / 5288.20
Section B: Market Research and Target Market
1. Here is a description of the Market Research done by us, including how many people we spoke to.
1. Here is a description of the Market Research done by us, including how many people we spoke to.
In checking the size of the market of this project, we conducted a market research. It appears most Ghanaian women do not know their body shape. Christians, Muslims, Traditionalist and other religions therefore end-up dressing not to suit their body shapes. Most foreign dresses do not fit the body shape of the females and males in Ghana. Most designers also don’t know the body shapes of the females in the Ghanaian community. Because of that we are going to design and produce the right outfits to suit the body shapes of the females and males in Ghana. During the research we administered questionnaire and sample of our product to 700 people; which 85% of the respondents indicated high level of interest in our product. After the research we came out that the size of the fashion design cloths market is very large and hence, there will be high patronage of our products when this project is implemented. . This project will provides information that will encourage fashion designers to take the body shapes of people into consideration before sowing their dresses in Ghana.
2. These are the results of our Market Research, including who is going to buy our product/service and why they will buy it.
The result of our market research show that Most Ghanaian fashion designers don’t know the body shapes of the females and males in the Ghanaian community.
1.- Industry demands: There are certain service industries which are focused on the customer, like the department store, restaurants or hospitals. These industries demand that the workforce look more united and eager to serve the customer, so the role of the uniform becomes very important. When the workforce is wearing a pleasant uniform the customers approach them more confidently.
2.- Uniform as perks: In some large organizations, it is considered as an honor and a kind of perk to receive uniform. This results in considerable conservation of time and energy of the personnel, as he doesn’t have to choose again and again the clothes to be worn at the work place. Also a lot of money is saved.
3.- A sense of belonging: If the work force wears the same clothes to the work place then they share a feeling of commonness and belonging, which otherwise gets very difficult to achieve.
4.- A feeling of equality: Uniform brings everyone to the same platform, no matter how rich or poor he or she is and thus inculcating a feeling of equality amongst those wearing the uniform. Because of that we are going to design and produce the right outfits to suit the body shapes of the females and males in Ghana
5. Out of the 700 respondents in our research 85% showed interest in the use of our fashion design cloths, these include, university of education student, Point one restaurant, district assembly workers, Bengazy Ghana-made wholesale shop, Appiatu Hospital etc.
6. We came out that the market size of the fashion design cloths in the district within which the project will be implemented is large
7. The target group of our product is male and female.
These are the results of our Market Research, including who is going to buy our product/service and why they will buy it.
Section C: Competitors and Competitive Advantage
3. These are our main competitors and their strengths and weaknesses.
Competitor Name / Strengths / WeaknessesAbi Fashion / Proximity of location / Easy product shortage
Smart shop / Large space size / Sale of only children’s garment
Ekkufo Fashion / Inside the market / Foreign cloth
Anti ama Ghana made shop / Opposite Ghana commercial bank / Sale of only men ‘s garment
4. Our competitive advantage – This is why we are going to be better than our competitors:
1. Will produce to cut across all sizes and ages; from children to aged
2. Has the capacity to produce in bulk quantities to prevent shortages
3. Will produce in different styles and with assorted fabrics
Section D: SWOT Analysis
5. This is our SWOT Analysis.
Strengths – What are our business’ strengths? / Weaknesses – What are our business’ weaknesses?
Opportunities – What opportunities do we have for our business? / Threats – Do we face any threats to our business?
Section E: Operational Plan
6. These are the one-off tasks we will need to do to actually start up our business:1. Mobilize income from the targeted sources
2. Complete the office for project (currently in an uncompleted state)
3. Register with the district Assembly
7. These are the daily, weekly and monthly tasks we need to do to actually run our business:
Task / How long does it take? / How often?Daily/Weekly/Monthly / Who?
Who will be responsible
THE DESINGNING PROCESS / It depends on the size / Daily / The assigned team
CUSTOMER PROFILE / It depends on the size / Daily / The assigned team
THEME BOARD AND WORK BOOK / It depends on the size / Daily / The assigned team
PACKING OF SEWED CLOTHES / It depends on the size / Daily / The assigned team
STOCKING THE SHOP WITH PRODUCT / It depends on the size / Weekly / The assigned team
8. Our business team structure – Here are the names and positions of the business team members with a reference if they are teachers/students and a diagram of our business team structure (when possible).
1. Kingsford Ben Dadzie-Teacher (Chief Operation Officer)
2. Evelyn Zigah-Student (Quality Assurance Manager)
3. Victoria Finn-Student (Sales and Marketing Manager)
4. Charity Mills -Student (Finance and Administration Manager)
5. Diana Demenya-Student (Ass. Finance and Administration Manager)
6.Robert Dadzie-Student( Operation officer)
7.Henry Mensah-Student( Public relation officer)
Section F: Marketing and Sales Plan
9. These are our 4 P’s (Product, Price, Place, Promotion).
2. These are our 4 P’s (Product, Price, Place, Promotion).
a) Product – Our product/service is…
Men and women fashion design clothes
b) Price – We will sell it at this price:
from Gh¢ 20.oo to Gh¢ 100.00
c) Place – We will sell our product/service at this place:
In an office by the road side of our school , wholesale to our customers shop.
d) Promotion – We will promote our product/service by:
Social media( Facebook)
Radio advertisement,
Stickers
Website
Flyers
TV station
Appendix Section: Students in Action
Please find in this space 3 pictures (when possible) that clearly shows our involvement as students in our business planning activities.
FINANCIAL PLAN
1. Income (estimated)
NAME OF PRODUCT OR SERVICE / QUANTITY / SALES PRICE / SALES INCOME(Quantity x Sales Price)
Children’s wear / 300.00 / 20.00 / 6000.00
Woman’s casual wear / 160.00 / 50.00 / 8000.00
Woman’s formal wear / 160.00 / 55.00 / 8800.00
Man’s casual wear / 150.00 / 50.00 / 7500.00
Man’s formal wear / 150.00 / 50.00 / 7500.00
General dresses / 200.00 / 50.00 / 10000.00
TOTAL SALES INCOME / 47800.00
2. Costs (estimated)
NAME OF ITEM / QUANTITY / COST PER ITEM / TOTAL COSTS(Quantity x Cost per Item)
FABRICS / 380.00 / GHS .70 / 500*70= 26000
COLOUR AND COMPUTERS / 250 / GHS.20 / 300*20=50000
WORK BOOK / 200 / GHS.22 / 200*22=4400
DESIGN BOARD / 15 / GHS.12 / 15*12=180
THEME BOARD / 6 / GHS.10 / 6*10=60
.TOTAL COSTS / 35640.00
3. Profit (estimated)
Our Local CurrencyTOTAL SALES INCOME / 47800.00
TOTAL COSTS / 35640.00
PROFIT
(Total Sales Income – Total Costs) / 12160.00
4. Start-Up Budget (estimated)
Our Start-Up Budget is the costs of the Equipment and Supplies that we will need to start our business.
a) Equipment & Supplies Start-up
EQUIPMENT & SUPPLIESNAME OF ITEM / QUANTITY / COST PER ITEM / TOTAL COST
(Quantity x Cost per Item)
Fabrics / 200 / 70.00 / 200*70=14000
Computers / 4 / 500.00 / 4*500=2000=2000.00
Transportation / - / 3000.00 / 3000.00
Work Book / 200 / 22 / 200*22=4400.00
TOTAL EQUIPMENT & SUPPLIES START-UP / 23400.00
b) Equipment we don’t need to buy as we own/have access to:
1. Tailors Chalk 7, Crayons. 13. Sowing machines
2. T-Pins 8. Brushes
3. French Curve 9. Pastels
4. Drafting Scales 10. Paints,
5. Scissors 11. Glue
6.Paper, 12. Tape measure
THEME BOARD
c) We will get the Start-Up capital needed for our business by:
1. Parents and Teachers Association contribution
2. Community stakeholders contribution
DESIGN BOARD
Additional comments:
We have a small school farm which can also generate as income
Our Local Currency used : / 47800.00Exchange rate to US Dollars: / 10820.77
Your opinion matter to us and we want to make sure the Awards Programme works for you. Please ask your teacher to fill in the following section. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD. Please choose ONE option in each row.
A. STUDENTS’ IMPROVEMENT ON SKILLS
After going through the activities to develop the Business Idea and Plan do you feel your students...
Did not improve / Stayed the same / Improved1. Are more confident speaking in front of other people (e.g. during market research) / √
2. Work better with people with different opinions to theirs / √
3. Have improved their team working ability, e.g. if other team members were struggling they offered support to them / √
4. Are more confident analysing information / √
5. Are more able to use their ideas to organise and plan work in order to reach their goals / √
6. Are more able to look at different ways to solve a problem and are more confident in selecting a solution / √
B. YOUR OPINION ON THE SCHOOL BUSINESS PLANNING PROCESS
1. Through the school business planning process, which skills do you think students improved/gained the most (max 3):
Leadership / √ / Communication / AspirationConfidence / √ / Decision making / Other – Please specify:
√ / Problem solving / Team work
2. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.
No / Yes, in ScienceYes, in Maths / Yes, Other – Please specify:
√ / Yes, in Writing & Reading
3. Have the students used the skills learned through the school business planning outside school?
NoI don’t know
√ / Yes – Please specify: Some of them are trying to set up their own businesses
CONGRATULATIONS on writing your Business Plan! You can now GET STARTED and put all your learning into action! Now is the time for you to actually run your business!
Remember to submit your completed business plan to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login
1
BRONZE Business Plan Template 2017. ©Teach A Man To Fish