Bplan Ybd Oxford Manu Jindal

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A bplan on Vocational training/microfinance for youth in community.

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Bplan Ybd Oxford Manu Jindal

  1. 1. TABLE OF CONTENT 1. MISSION 2. OBJECTIVE 3. STRATEGY AND OPERATIONS 4. FEASIBILITY 5. POTENTIAL MARKET 6. COMPETITION 7. MARLETING PLAN 8. FINANCIAL PLAN 9. RISK ASSESMENT 10.UNIQUE SELLING POINTS OF OUR VENTURE 11.FUTURE PLANS 12.APPENDIX
  2. 2. Mission: To provide skills and resources to the economically backward and underprivileged section of youth of the city and to create an organization named ‘UTHAAN’ that implies continuous growth. We strongly believe that the best way to solve the major problems faced by developing countries such as unemployment, equality, women empowerment, education; is to make people self dependent , sufficient in turn imparting the feeling of entrepreneurship in them. Objective: There is a famous saying “If you give a man fish to eat, you will feed him for a day, But if you teach him fishing, you will feed him forever.” We want to achieve the essence of this quote. Our objective is to provide the necessary support and awareness to the people who have the potential and strong desire to stand on their own. We will make them aware of the avenues which are open for them and help them with the required resources and infrastructure. We will help them to acquire skills required for providing basic services like carpentry, plumber, electrician, gardening, welding, blacksmith, tailoring, and mason. We will also provide small loans (microfinance) to people who want to start a venture of their own especially the women. Our main objective is to make professional and profitable organization out of unemployed population (mainly the Youth and underprivileged), which will commit its customers QUALITY, EFFICIENCY and EXCELLENCE of the highest level. STRATEGY AND OPERATIONS: Our initial focus will be on assessing the practical situation in the colonies, slums and other underprivileged areas of the city. After that we will initiate mobilization of the resources needed for our venture. Following is the strategy and explanation of the operations we will follow. Surveys: the surveys of the colonies, slums and other areas will be done to access, what exactly is the condition of the people in these areas. It will aim at to get the vital information such as: 1. What is estimate population of these areas? 2. How many people are unemployed? 3. What are the literacy levels of the people? 4. What is economic and social condition of the people? 5. What is the sex ratio in these areas? Awareness campaigns: After doing these initial surveys we will analyse the received information and according to that we will launch awareness campaigns in these areas. These awareness campaigns will aim at making people understand about our idea and make them aware about the avenues and opportunities which are available for them to explore. These awareness campaigns will comprise of: 1. An interactive session with the people at common platform 2. Entertaining and knowledgeable street plays by our college students which will enlist advantages of entrepreneurship and success stories of some fictional characters. 3. There will be a special focus on women empowerment drive. As women comprise of large number of population in these areas. Also the condition of women specially, is very bad because of social stigma
  3. 3. and inequality among men and women. We will be offering women different projects according to their skills and interest such as knitting, weaving, pickle making etc. Registration: After these surveys and the awareness campaigns we will look out for potential people, who are willing to learn and want to associate themselves with our venture. Registration of these people will be done after proper identification and assessment of their credibility. The registration process will include filling up a very simple form in which we will ask about personal details including address, education qualification. They will also have to provide an identity proof which will be cross-checked by local civil authorities to ensure that person credibility. After we have short listed the required number of candidates, the training procedure would begin .they will also be told that they will have to sign a bond with us for two years after the training, in order to sustain our business venture. We will also be contacting regional NGOs and the administration for more number of people who are interested in joining our venture as a trainee. As these organisations are also are in contact with people who want to earn livelihood for them. Women empowerment: we will be having a special funding programme for the women who want to start up their small ventures, projects such as buying a sewing machine for knitting or raw materials for pickle making. These funds will be given on monthly interest basis which will be around 5 % .this money will be made available very easily without involvement of too much paper work which is the case with national banks. We all know how many of the initiatives of the central and state governments have fallen flat because people from such areas are just not willing to approach these institutions. This will help in motivating these women to work as they have to pay the interest and also it does add more credibility and seriousness to the project. We will be taking help from the N.S.S 1(National Service Scheme) students of our college to help these women regarding arranging raw materials and supervision for maintaining hygienic conditions during the project. We also help the women who want to learn the skills such as knitting, weaving and pickle making by providing them proper training. Also the students will be helping them to market their products. Infrastructure: in the initial phase infrastructure required for the training of the people will be provided by our college. As being an engineering college we have all the workshops through which we can provide necessary training in all the different fields of expertise like carpentering , forging, machining, welding, . Also there will be professional teachers who will train the people in other professional forays such as tailors, masons, plumbers, mechanics and electricians .We will also be utilizing our seed money for recruiting these people and for development of these workshops to sustain more number of people. At this moment we have a support of are college authorities regarding all the necessary infrastructure support for our venture. We are looking forward to open our own training centre outside college in future. Other major tie-ups: we will be tying up with many other organisations which do support venture which are aimed for community help and support. Some organisations which we are targeting are as under: Commonwealth Youth programme Asia centre: we are working with commonwealth Asia centre (which is in our college campus) for last 2 years for various youth development projects like HIV/AIDS awareness and micro financing. So we will be tying up with them to seek both intellectual and financial support in project planning and execution. Local administration and NGOs: we will tying up with local administration and NGOs in order to get the human resource personals which will help in developing efficient training modules as different modules of training will be needed in order to impart skills to each and every person if one is not working for an individual. 1 NATIONAL SERICE SCHEME: it’s a national scheme of Indian government which runs in every government college. In this students are required to take part in social projects and other community services.
  4. 4. Initially we are targeting 200 people who will gain from our venture. These will be trained for two months in first session. There will be complete monitoring of these people with regard to their progress. Special focus will be given to people who are not able to adapt or learn easily. Our operations will work proper cyclic manner. When the training of first set of people will be going on, the look out for potential customers who would require the services of these trained people will begin. Our major focus will be on communities (middle class sectors) and societies. We will be also looking forward to signing annual contracts with shopping centres and other commercial centres. We will be providing our services to these people on two way plan: Monthly Fixed cost: In this scheme every customer will have to pay fixed monthly fees (estimated around RS 500 keeping in mind the existing prices) for our services. (This is cost of our labour charges only).They can avail our services in any field of our expertise for a fixed number (around five times). If they do exceed this number, they will have to pay extra money according to the work required to be done. Customer care service: we will be having a 24X7 telephonic service. So a customer can call any time and report about his problem and we will send the required personal as soon as possible to fix that problem. For the feasibility of the 24x7 service we will be using a voice mail and mobile sms service. In this the customer can just provide his name, address and problem. We will get back to him as soon as possible. Formation of the different service team: after the training, the complete review of the trainees will be done with the help of mock rehearsal and other different means. Then the batch will be divided into different sub-sets according to the area of expertise. Professional approach: we will be taking necessary steps to maintain professionalism in our whole project as we do strive for excellence and quality in our venture at every stage. Few of the steps are mentioned below. • Each member will be given an identification number and I-card so that complete check can be maintained in case of any emergency. • There will be single uniform allotted to every member. • There will be mobile vans carrying required tools in case of urgent service. • There will be a feedback form which the customer will be filling according to the quality of service he has received. It will help in monitoring of the every member of team. Our operational plan will be flexible and necessary changes will be made according to the requirements during the execution. FEASIBILITY: The feasibility of venture can be determined directly from the factors enlisted in the business plan such as • Fresh and innovative business idea. • Presence of potential market. • Availability of required infrastructure and resources. All the above mentioned factors are explained in the business plan in a thorough manner. There are also other specific factors which do ensure the feasibility of our venture. These are:
  5. 5. • Self sustaining business model: After initial one time investment. Our venture need an initial investment for setting up a training centre , improving workshop facilities, marketing and publicity campaigns , hiring human resource , surveys , awareness campaigns. After that we do believe that we can work with our profits as there won’t be much capital required after initial instalment of our project. • Work experience: We have a prior experience of working on youth development projects and empowerment of weaker section of society specially the women Two members of our team have been working as ‘Commonwealth Youth ambassadors for positive living’ as part of program of commonwealth youth Asia centre. We have been involved in projects of HIV/AIDS awareness and drug- substance abuse. As part of social work scheme of our college we were active in projects of micro-financing and formation of self help groups in colonies nearby our college. With success and experience of that only, we have planned for our business idea. Other than these we do believe in 6 Ds that are: Determination, dedication, dynamic attitude, discipline, devotion and diligence and we strive towards all of them. This gives us all the strength to make our project feasible and real. MARKET: There is a big market for the services which we aiming to provide for sure. We strongly believe that this is an unexplored service sector which will prove to be a success both in terms of economic and social benefits. According to our study (the study was done taking a sample of around 100 people in Chandigarh only), some of the major problems which people are facing in their daily life are: • Needing a plumber for repair work in wash rooms • Needing a carpenter for broken chair or repair work of furniture • Needing a mason to repair a fence or wall. • Needing a mechanic for start up or some other small problems of their vehicles especially like breaking up of a car while going out for an important work. • Needing a electrician for fixing a power failure or repair work of electric machines There are many others small scale problems which cannot be put into definite category but they just require small labour and average skills. Now during our research we found that there is no specific place or contact of people who do provide services for these problems. They exist in very minute and unorganized form. So during time of urgency it’s very tough to contact these people and get the work done. It was also observed that the services provided by these individuals don’t match the expectation of the customers. So in our venture the idea is to create a market for ourselves rather than snatching from others. So we want to tap into this open market and provide the customers an efficient and quick service with a professional approach. Also we will ensure to absorb all the individuals who provide these services as in providing them better opportunities. Competition: The competition to our venture can be classified in two major sectors i.e. • Organized • Unorganized Organized sector: In every venture the initial competition which one faces is from the old players in the market who are already providing those services. In our case there is no such type of organization or company which
  6. 6. provides human resource for basic day to day services. In our region our venture is a new beginning. So our biggest challenge is to make people understand that there is strong need of such type of services in this era and we are providing them in most efficient manner. Unorganized sector: There is a very small unorganized sector which does exist in the form of individuals. These individuals do provide the type of services which we aim to provide but there existence in the market is very scattered and very small that is why its very difficult to avail their services in an efficient manner. Most of these individuals had inherit the required skills from their parents and it’s kind of family business. These individuals don’t get the work as often. So their condition in the market is very weak. Our one goal is also to get these individuals into our organization. This will help us to maintain our human resource which will train the youth and in turn will earn much better livelihood. MARKETING PLAN: The marketing will kick start by the end of first month of training. As we have to create a market for ourselves by publicising our existence and explaining are ideas to masses through a proper channel. In the initial phase our major focus will be giving information regarding our services to the people. For this we have a set an action plan which we will execute gradually with time. It comprises of: PRINT MEDIA: firstly we will be contacting local newspapers and will spread awareness among general public about the need of these services today. This will be done through articles in the newspapers. Our venture is very new idea so our major thrust initially will be getting the right message passed to the public rather than brand advertising or other expensive publicity campaign. After assessing the results of that with time, we will advertise about our organisation “UTHAAN” in which we will be highlighting our customer care services. As through telephonic service people can get more information about our venture and also can use our services. DISTRIBUTION OF INFORMATION BROCHURES: We will be distributing our information brochures and the pamphlets in the major hotspots of the city where we ca reach the masses directly. Our focus will be on: shopping malls, multiplex, trade fairs, theme parks and many others. The idea is to have a direct interface with the consumer. ORGANISING LIVE WORKSHOPS: We will be holding live workshops in the different hotspots of the city. The major function in these workshops will be exhibiting the skills of our personals in solving the basic house problems and explain consumer the need of the professional service sector for their daily problems and fact of the matter is there is no such professional organisation or company which do provide such type of services. Here again the idea is to have a direct interface with the consumer. We are looking towards a very local marketing approach in the initial phase as that’s feasible and practical. We strongly believe that our attitude towards the work and efficient service will speak volume about itself and surely provide strong foundation to our venture. FINANCIAL PLAN:
  7. 7. The capital requirement for our venture in initial phase is estimated around RS. 3 LAKH (approx. 4000 pounds) .The major expenses initially will be on mobilizing the resources for surveys and awareness campaigns. Than the money will also be spend for marketing and recruitment of human resource to train the people. As for now the infrastructure required for training will be provide by college authorities. Division of capital requirements: Venture capitalist: we are looking for a capital of around 2 lakh (2700pounds.) from the venture capitalist. The returns from the investment will be decided by mutual understanding. We will be looking for person who does understand the commercial and social aspects of our venture. We are looking for other avenues such as rural banks and corporate houses to generate funds as per requirement after the initial stage. As these days corporate social responsibility is on big rise. Companies are investing large amount of money in the social projects. So we want to tie up with corporate houses in order to generate required funds. These funds will also be used to help the poor people who want to start their own small projects. We will be providing money to these people on basis of micro-financing after assessing the viability of the project and credibility of the person. We want to motivate and help people in every possible manner. As we do believe entrepreneurship is the only solution to all the problems faced by unemployed people. RISK ASSESSMENT: There are risks involved with every new venture. In our project the major risks can be classified into: Finding large customer base in the initial phase: there is possibility that the time frame which is required to explain and aware people about the need of services which we are providing. Our idea is very fresh and new in the market. People can take time to understand and believe in our idea. So the estimated customer number may not be achieved. During the training time there may be few people from the slums or colonies who won’t be able to grasp and learn the skills as quickly as other trainees. So this can result into inferiority complex among the trainees. PLAN OF ACTION FOR TACKLING THE RISKS: as far as the customer base is concerned, we will give a thorough look to a marketing and publicity campaign. There is always room for improvement according to the practical situation. We have kept our plans flexible and all the necessary changes will be made as soon as possible. We may also use our trainee as part of marketing strategy by organising live workshops in the important places of the city. It will help us to establish a direct interface with the people. Secondly about the problem of individuals who won’t be able to grasp the skills easily, we will ensure complete monitoring of our training programme for every individual. There will be necessary change like changing of training module and other programme like mentoring programme will be introduced. Our idea is to help each and every individual in best possible manner so that he can achieve the desired results. UNIQUE SELLING POINTS OF OUR VENTURE: 1. SOCIAL IMPACT: our business venture will result into social benefits for the people living in the slums. As it will provide them skills which will make them self dependent and also provide them all the necessary assistance in order to earn a respectable livelihood. We want to induce the spirit of entrepreneurship in each and every individual who will work with us. It’s the single solution to problems like unemployment, illiteracy and inequality. 2. COMMERCIAL IMPACT: We are totally convinced about our idea and strongly feel that it will be a commercial success. There is a potential market which is there for our services and we will
  8. 8. ensure that we tap it in the best possible manner. We do have continuous support from our college in terms of infrastructure which surely act as big confidence builder. 3. SUITABILITY OF CORE TEAM MEMBERS. Our core team comprises of engineers who do have the necessary intellectual capital which is required for the venture. We all have a prior work experience of working for social projects. Our experience will help us a great deal in understanding the problems faced by slum people. 4. RETURN ON THE INVESTMENT: our business venture needs a one time investment after that it can run on self sustaining model. Our venture caters to a service sector which doesn’t require investment on regular basis. Once the skills are imparted to the slum people they will stay with them for whole life. So one time learning will give returns for whole life time. FUTURE PLANS: We do aim to prosper both socially and commercially with time. Our future plans include: • Increase the intake of people (as a trainee) and also the covering area. • Increase in the number of services which we are providing (adding services like cooking). • Increase in the customer base and target area (expanding outside Chandigarh). At the end of the day we all strongly believe in the idea of entrepreneurship and we envision a day when entrepreneurship will be the driving force for the entire country. Appendix (Left: pickle making process) (Right: knitting and sewing project.) Some pictures of the social projects, which we are running in our college.

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