2. 2
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
CONTENTS
o Executive summary 3
o Our idea 4
o The market 5
o Our sales strategy 6
o Our team structure 7
o Our operations 8
o The risks 9
o Our financial forecasts 10
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3. 3
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Executive Summary
Here at Abinakey, our main goal is to abolish the need for multiple keys and increase
the security of your home and business. The Abinakey will allow for keyless entry to
your home, your business and other places that are part of your day to day life. It will
be available for purchase from big name companies, and can be easily installed.
Features of the Abinakey will include:
1 key card that can be used to access any door you are entitled to
A smartphone application and website that compliments the key
A security program to issue reminders and warnings about your locks
Our company will outsource manufacturers for the
production of the card, sensor and other accessories. To
initially launch our product, we will establish links with new
housing companies and new student accommodation.
We then aim to make the Abinakey available in many
major big brand stores to allow customers to install the
Abinakey themselves. We will expand its uses over time.
For example, it will be available for access into lockers
(including school lockers), first class airport lounges, cars,
hotels and sport gyms. The possibilities are endless.
4. 4
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Our Idea
How it works
The Abinakey sensor will be available for purchase from big name companies. It will
replace the current lock on your door and act as new, high security, modern lock.
The Abinakey will be easy to install in your own home and a free installation team will
be offered for your home and larger businesses.
Security
The Abinakey will increase the security of your home and business. Unlike normal
keys, the Abinakey can’t be used to access your home if stolen, as we offer a
disabling service. The Abinakey has the ability to be controlled fromour HQ remotely
via the app.
The App
The Abinakey will come with an application designed especially to assist it. The app
will allow for the Abinakey to be disabled, activated and for a new lock to be
added to it. The app can also be accessed via a computer, and will require the
customer to log into their account. From the app, the customer can then request
any of the listed features. The request will be processed by our customer service
experts to ensure these changes can be made by the card holder, or if the request
needs to be checked with another business. The app will also provide a notification
option that can warn customers of doors left open, low batteries, broken locks and
when a card is used.
Accessories
The Abinakey will come with multiple accessories such as phone cases that can be
purchased at an extra cost to further enhance the Abinakey experience and
increase profits.
5. 5
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
The Market
Our target market is people who feel they would benefit from increased security.
Abinakey allows everyday families to protect their home in a more secure way.
Efficiency in our customers’ everyday lives will be drastically improved, as not only
will the Abinakey allow access into homes, but it can also be connected to your car
or any other lock used. We have chosen this market, as our research has shown
there is a gap in the market for an increased security product that is affordable for
the general public.
After our brand and product has been developed, we at Abinakey plan to make
our product available to large organisations. This will allow businesses to install the
Abinakey security system into their whole building, so that every room accessed
within the building can be recorded and so that the overall security is improved. We
plan to go into this market because our service means that our security system can
be installed into the whole business.
6. 6
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Our Sales Strategy
The Abinakey will be available in many major big brand stores. For example, we plan
to secure deals with Amazon and John Lewis.
If successful, we plan to release the Abinakey onto the market by March 2016. Our
ultimate aim is to completely abolish the need for multiple keys. After the Abinakey
becomes popular in the market, we will expand its uses. For example, it will be
available for accessinto lockers (including school lockers), first class airport lounges,
and sport gyms. The possibilities are endless.
Not only will the Abinakey be a great investment, but the product is affordable. Our
sales strategy for the first year of launch is to target new housing and student
accommodation. We plan to install the Abinakey sensors on the doors of these new
buildings, in partnership with home construction organisations across the country. This
should introduce our product into the market and allow the public to view how
efficient and secure the abinakey is.
7. 7
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Our Team Structure
Here at Abinakey, our workforce is organised into specialised, successful teams
whose aims are to achieve targets as efficiently as possible.
Managing Team
This team directs the business as a whole, managing all departments and existing
projects.
Finance Team
The Finance team deals with all business transactions, as well as surveying the
business’s incomes and expenses, and henceforth predicting the annual profit.
Marketing Team
The Marketing team will be responsible for promoting Abinakey using social media
and other various forms of advertising.
Customer Service Team
Any problemfaced by the customer, fromfaulty cards to issues with our application,
can be addressed by a member of our customer service team. They can be
contacted by telephone or email, and we also offer an online chat service within
our website and app.
Installation and Repair Team
The customer has the option of installing the Abinakey sensors themselves; however
we offer a free installation in which one of our teams will come to the customer’s
home or business at their convenience. This team’s expert knowledgealso deals with
identified faults.
8. 8
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Our Operations
Manufacturing of Cards & Sensors
This production for both the key cards and key sensors will be outsourced to a
manufacturing company. Flow production will be used which is the fastest,
cheapest and most efficient way of production. This will result in a card and sensor
we can produce at low costs and sell on to customers for an affordable price and
still make a profit.
Consumer Price: £74.99 (1 sensor & 2 cards)
*Discounts will be offered for largeorganisations
Design of app and website
A software development team will be outsourced for the design and
implementation of the application and website. These must allow the customer to
make an account that holds information about the key card. A central server will
also be required to store the information about each individual key and lock. This
information will also be encrypted.
*Free with Card & Sensor
Manufacturing of Accessories
The Abinakey will havemultiple accessories that can be purchased to enhance the
Abinakey experience. The phone cases will be purchased from another company
and will allow for the Abinakey to be stored and easily accessed from within the
phone case.
Consumer Price: £5.99 (Available in range of Colours)
*Discounts will be offered for largeorganisations
9. 9
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
The Risks
Security
We have identified the risk that the Abinakey could possibly be lost or stolen, and
then used to break and enter into your property. To prevent this, we will offer a
disabling feature as part of the application and website, available to use 24 hours a
day. This will allow customers to prevent their home being broken in to, in the
unfortunate circumstance of your key card falling into the w rong hands.
Sales
In the unlikely event that the Abinakey does not sell to our expectations, we have
established that the business would increase online advertisement in order to further
promote our product. However, we feel this is unlikely as we plan to spend a large
amount of our funds on advertising the Abinakey at its initial launch, for example,
the installation of sensors on the doors of newly built homes.
Manufacturing
If our outsourced manufacturing companies come into some financial difficulty and
are no longer able to produce our products, we have established some backup
contacts capable of taking over the production.
10. 10
Jack, Erin,Molly& Abigail
abinakeyOpening new doors in t he world of Securit y
Our Financial Forecasts
To initially launch our product, we will establish links with new housing companies in
and around Edinburgh. These would include:
Mactaggert & Mickel Homes
o Houses in the City centre, Midlothian & Barnton
o 3,4 & 5 bedroom family detached homes
Unite Student accommodation
o Due to spend £38 million in Edinburgh at St Leonard
o 1. 8 acres of land
Persimmon
o Dalkeith, Bonnyrigg, Musselburgh and Penicuik
o 3,4 & 5 bedroom houses within 1 mile of the city centre
By targeting these new houses and student accommodation in our first year,
Abinakey can make an initial profit to kick-start our sales. After the first year installing
Abinakey in new homes, we hope to further increase the range of our customers.
The Abinakey will become better known and will allow home owners to see the
product in use and gain confidence in our product. The Abinakey will then become
more common in older houses replacing the old, less secure locks.
Further into the future, we aim to expand into businesses to further our goal of
abolishing the need for multiple keys. The development of the product into first class
airport lounges, cars, hotels, sports gyms and various lockers will depend on the
speed at which the Abinakey advances.
