Final project UP

A BUSINESS DEVELOPMENT PROPOSAL TO SET UP A
DIY HARDWARE STORE IN SALEM, INDIA.
A Major Project
Prepared by
SHIVANESAN MANIVASAGAM
0228OABOAB0216
MASTER OF BUSINESS ADMINISTRATION
CARDIFF METROPOLITAN UNIVERSITY
9th January 2017

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EXECUTIVE SUMMARY
The world now is evolving where people are becoming expertise in everything and household
objects are the first things that they do. Mr. Fix It - The DIY Hardware Store is a new start
up, which is going to establish a DIY (Do It Yourself) Hardware store in Salem, India. The
main objective of this start up is to sell hardware components raging from tap fittings to pipes
and to doorknobs and all kinds of housewares, which can be assembled by the customer itself
and requires no advice from expertise. It is also conveniently located to serve the customers
better. The owner of the store will be Shiva and will be the sole shareholder. The owner will
fund the initial investment to the business and no bank loan or other external source of
funding will be used.

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Table of Contents
EXECUTIVE SUMMARY 2
INTRODUCTION 7
1.1 INDUSTRY AND COMPANY BACKGROUND 7
1.2 BUSINESS CONCEPT AND OPPORTUNITY 7
FFF1.3 PURPOSES AND RATIONALE 9
1.4 SIGNIFICANCE OF THE RESEARCH 9
1.5 TERMS OF REFERENCE 9
RESEARCH QUESTIONS 9
RESEARCH OBJECTIVES 10
RESEARCH FRAMEWORK 10
2.0 BUSINESS REVIEW 11
2.1 MARKET ANALYSIS AND MARKETING STRATEGY 11
2.2 HUMAN RESOURCE MANAGEMENT 12
2.3 BUSINESS PROCESS 15
2.4 FINANCIAL PLANNING 17
3.0 RESEARCH DESIGN 20
3.1 RESEARCH METHODS 20
EXPLORATORY 20
3.2 SAMPLE UNIT 21
3.3 SAMPLING METHOD 21
3.4 SAMPLING SIZE 21
3.5 SURVEY LOCATION 21
3.6 COLLECTION METHOD 22
PRIMARY DATA 22
SECONDARY DATA 23
3.7 ETHICAL ISSUES 23
4.0 DATA ANALYSIS 24
4.1 PRIMARY DATA ANALYSIS AND BUSINESS IMPLICATIONS 24
DEMOGRAPHICS 24
BUSINESS PROCESS 30
HUMAN RESOURCES 35
MARKET ANALYSIS AND MARKETING STRATEGY 40
FINANCIAL PLANNING 45
5.0 BUSINESS MODEL 50
5.1 BUSINESS MODEL CANVAS 50
5.2 BUSINESS MODEL ELEMENTS 52
PRIORITY CUSTOMERS 52
SUPER VALUE PROPOSITION 52
CHANNELS 52
KEY ACTIVITIES 52
VALUE CHAIN BASED RESOURCES 53
IDENTITY 53

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COMPETITIVE STRATEGY 53
RELATIONSHIPS 53
KEY PARTNERS 54
REVENUE STREAMS AND CASH FLOW 54
COST & COST BUDGET 54
6.0 BUSINESS PLAN 55
6.1 MISSION & VISION 55
MISSION 55
VISION 55
6.2 OBJECTIVES 55
6.3 MARKETING PLAN 56
SEGMENTATION, TARGETING AND POSITIONING 56
6.3.2 MARKETING MIX 58
6.3.3 STRATEGIC GROWTH (ANSOFF MATRIX) 61
6.4 ORGANIZATIONAL / OPERATIONAL PLAN 62
6.4.1 ORGANIZATIONAL STRUCTURE 62
6.4.2 HUMAN CAPITAL PLANNING 63
6.4.3 VALUE CHAIN ANALYSIS 65
6.5 FINANCIAL PLAN 69
6.5.1 3-YEAR FORECAST INCOME STATEMENT 70
6.5.2 3-YEAR FORECAST BALANCE SHEET 71
6.5.3 ASSUMPTIONS, EXPLANATION AND JUSTIFICATION 72
6.6 GANTT CHART 76
6.7 CRITICAL SUCCESS FACTOR 77
6.8 RISK MITIGATION AND CONTINGENCY PLAN 77
REFERENCES 81
APPENDIX 83
I ETHICS APPROVAL FORM 83
II QUESTIONNAIRE 89

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List of Figures
Figure 1.0 Increase in number of DIY stores in India
Figure 1.1 Research Frameworks
Figure 2.0 Hiring Decision
Figure 2.1 Maslow’s Hierarchy of needs
Figure 2.2 Business Process
Figure 2.3 The Financial Planning Process
Figure 2.3 Sources of Finance
Figure 3.1 Research Design
Figure 3.2 Collection Methods
Figure 5.1 Business Model Canvas
Figure 6.1 Company Logo
Figure 6.2 STP Process
Figure 6.3 Positioning Map of Mr. Fix It
Figure 6.4 Marketing Mix
Figure 6.5 Types of Promotion
Figure 6.6 Ansoff Matrix
Figure 6.7 Organizational Structures
Figure 6.8 Value Chain Analyses

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List of Tables
Table 6.1 Start-Up Costs
Table 6.2 Forecast Income Statements
Table 6.3 Forecast Balance Sheets.
Table 6.4 Sales Forecast
Table 6.7 Retained earnings
Table 6.5 Depreciation Calculations
Table 6.6 Assumptions
Table 6.8 Ratio Analysis
Table 6.9 Gantt chart

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CHAPTER ONE
INTRODUCTION
1.1 Industry and Company Background
The concept of DIY is well established in the western countries and also in most of the Asian
countries. Stores like IKEA and Mr. DIY have been running successfully and people find it
interesting to set up their own wardrobe or their taps and pipes in the washbasin. The
products come with all the instruction and also the necessary nuts and bolts to set it up. This
makes it even easier for the customers as they just need a screwdriver or a hammer to set up
the product.
The DIY industry does not to offer top-notch products with state of the art quality. The whole
concept is to make cheap products with good finish and easy to assemble. Prices were lesser
compared to the conventional way of making the products. The labor cost and the price of the
expensive materials were cut down. Ikea the main player in the DIY industry is the largest
player in the world with both hardware and furniture products. Started in 1947 is now the
main player in the DIY industry with global revenue of 32 billion Euros worldwide. Their
main competitive advantage was having the knowledge of what the customer wants. (Sayeau,
2009)
Mr. DIY in Malaysia is one of the competitors of IKEA but in a small scale. It sells DIY
products, which are imported from china, and they have outlets all over Malaysia but IKEA is
established in Kuala Lumpur only. They started only in 2005 but they already have 220
outlets all over Malaysia and they are planning to expand to Thailand. Though the concept of
DIY was new people started to like these kinds of products. This is evident from the revenue
gained by the two companies mentioned above.
The Concept is new and is expanding in an exponential scale.
1.2 Business Concept and Opportunity
The DIY Hardware Store is mainly going to deal with hardware products such as doorknobs,
tap fittings, pipes, showers, electrical products and car accessories which can be set up by the
customer itself and no separate expertise is needed. The DIY stores are new to India and not

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many people are going to be aware of such a store. So marketing will be the main thing that
we will have to pay attention to. (Sensis, White, and Hartnett, 2006) The price of the product
is going to end up cheaper and also setting up is going to be much easier. The main focus will
be on offering the customers what they want as soon as they enter the store.
The concept of DIY will be initially focused on the hardware products and will slowly start
offering furniture’s and other household products. Both B2C and B2B will be carried out.
The concept of DIY is not yet entered the South Indian market. So it will be a new idea and
people in India welcome new ideas. This makes our store stand out from others and since
there is less or even no competitors the opportunity to gain market share will be much higher.
(Group, 2016) The concept of blue ocean strategy will be what we are focusing on. Since the
concept of DIY is almost new to the south Indian market people would visit us at least to
look at the concept. . In India, there is certain group of people who does online purchase and
they might be exposed to the DIY concept. According to the FranchiseIndian Magazine the
number of DIY stores in India is increasing steadily. So the opportunity is wide.
Figure 1.0 Increase in number of DIY stores in India.
Source: FranchiseIndian Magazine (2015)
But having a physical store and this will make customers to have a physical look at the
products before the purchase. The main idea is to offer the lowest price possible. (Abrams,
2014)

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fff1.3 Purposes and Rationale
The prime purpose and rationale of this business plan is to set up a DIY store in Salem, India
under the name “Mr. Fix It”. The concept of DIY is new and exciting and will have a greater
impact in the society. There is increase in student population in and around that region who
look for cheap and quality products for their rental rooms. This store will be useful for
customer’s home and office use.
1.4 Significance of the Research
The research of setting up a DIY hardware store in Salem, India is done to find out the
important factors necessary to start and run a business successfully. Proper understanding of
the different strategies such as Marketing, Human Resource and Staffing, Financial plan and
Business operations and also how to apply these strategies in real time to start a business will
be the main objective.
1.5 Terms of Reference
Research Questions
1. How does Marketing strategy help to set up a new DIY hardware store in Salem,
India?
2. What impact does Human Resource management have on setting up a new DIY
hardware store in Salem, India?
3. How does Business operations lead to setting up, improving and expanding the new
DIY hardware store in Salem, India?
4. How does Financial-planning help in setting up a new DIY hardware store in Salem,
India?

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Research Objectives
1. To understand the effect of marketing strategy on setting up a new DIY hardware
business in Salem, India.
2. To analyze the effect of Human resource management on setting up a new DIY
hardware store in Salem, India.
3. To understand the influence of Business Operations on setting up, improving and
expanding a new DIY hardware store in Salem, India.
4. To examine the impact of financial-planning in setting up a new DIY hardware store
in Salem, India.
Research Framework
Figure 1.1 Research Framework
A business
development
proposal to set up a
DIY hardware store
in India
Market Analaysis
and Marketing
stratergy
Human Resource
Management
Business Process
Financial-Planing

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CHAPTER TWO
2.0 BUSINESS REVIEW
2.1 Market Analysis and Marketing strategy
The market or industry analysis is of utmost important for anyone who is keen to start up a
new business. Knowing the current scenario of the industry and the market is very important
to strategies the business accordingly. This becomes very vital because it decides the
performance and growth of the company in the future years. And also it is a type of
feasibility analysis to determine the substantial growth and sustainability of the business in
the competitive market. It also helps to decide on the target customer by knowing their needs
and demand. Market analysis is used by a lot of people to have a safe start in their business
endeavor. It gives a lot of information on how to take business decisions, which will be very
vital for a start up. Market analysis should be the first step before starting any business and it
also serves to be a forecasting tool on how the business is going to perform in real time. It
will give an overall view on the macro environment factors that can possibly have an effect
on the business.
According to Popovic, D. (2006), modeling the marketing strategy of a new business start up
is essential and vital. A though provoking analysis in required before starting up a business.
There will always be a gap in between Needs and Wants of a customer. An efficient
entrepreneur will find the gap in between and will create and communicate to fill in the gap.
Marketing should also meet the vision and mission statement of the company. Marketing a
product against the mission and vision statement will lead to bad impression on the business
and the company. The concept of DIY is new and not much people know it. Without
marketing none of the potential customers will be able to know about the products and
services offered. So to make people realize and make them aware of the whole business
marketing becomes very much necessary. The market is going to be the practical
environment where the business is actually going to happen. It is the place where lots of other
business and competitors prevail. This becomes increasingly important for new DIY
businesses to have a proper marketing strategy to sustain and gain profit in the market.
Modern marketing strategy has developed and evolved with time. It has also taken a different

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shape to adapt the modern business world. When a business with a completely new concept is
set to establish marketing becomes highly important.
According to Krstic, I. and Becic, S. (2011), marketing basically identifies the target
customers and then helps in selling the products to the customers. Since the concept of DIY
(Do It Yourself) is new, people with ‘willing to change and try new things’ attitude is needed.
The industry targets to invite people to try and encourage the new concept and will try to
make them long term customers. Reputation is one main things that makes the success of the
business. Marketing actually increases the brand name, the brand image and in turn builds a
strong reputation. So when the reputation starts to develop, the business expands and also the
sales rate becomes higher. Segmentation usually targets what kind of products and price
customers prefer. Since the level of competitors is lesser, the prospects of the business
flourishing are high. But marketing is a very important factor since the concept of DIY is new
to the market. The motive of DIY industry is to provide products at lower piece and at high
quality. But the local hardware and furniture shops might give some competition to the
business. To overcome this the Product, Price and Promotions are strategically aligned to
stand out from the local vendors. It will also provide an edge, as the infrastructure will be
more pleasing and welcoming unlike the traditional hardware shops. Marketing is very much
important for a business, but might turn out to expensive. At the first year marketing budget
might be as high as 30% of the total revenue, but will be very useful to develop the
reputation. (Abrams, 2014)
H1 Thus market and industry analysis have a positive effect on setting up a new
business.
2.2 Human Resource Management
To have the edge, right skilled people should be recruited for the job. This plays a major role
in delivering products and services on time to the customers. The process of recruitment
requires a proper plan in order to know what type of skill set is needed from the applicants.
The type of labor needed depends on lot of factors like client requirement, technological
developments, labor mobility etc. The DIY industry needs not only needs skilled manpower
but also people with uniqueness, as the products are different and easy to fix. This requires
out of the box thinking. The process of recruitment was a bit different. Skills were analyzed

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and thinking of the candidate was studied. The process of recruitment can vary from one job
to another and may also depend on the company profile. So a clear requirement should be
designed in order to attract the right skill. Also at certain times, there were performance test
at the end of the hiring process where the candidates will be put into real time scenarios or
real time work to test the ability of the candidates. (Werner, 2014) The hiring decision
depends on 5 dimensions Competencies, Adaptability, Motivation, Personal Characteristics
and References.
Figure 2.0 Hiring Decision
Having a diverse culture in the industry makes it even easier to get innovated products. After
the process of hiring and forming a team, the main thing is to motivate the team towards the
organizational goal. According to Taylor’s Theory of Motivation, the managers should have a
close look at their employees and should keep motivating them to prevent absenteeism and
better productivity. Employees are motivated by Salary hike and incentives, better
communication between employee and manager, working in groups, working conditions, job
security and recognition for their work. (McMorland, 1990)
The process of performance management will have a close supervision among all the
employees and it will result in knowing each of their performance. Since the work at the DIY
industry in challenging and stressful, attractive salary packages and allowances were given to
the employees to motivate them.

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Figure 2.1 Maslow’s Hierarchy of needs
According to Williams, S.L. (2002), having a positively motivated employee will result in
more innovation and higher profit. So not only attractive jobs were given but also work
recognition was put into play. DIY industry always had the motto of satisfying not only the
customers but also the employees. This made the industry flourish in the western part and the
culture follows. Also according to Maslow’s hierarchy of needs, satisfying the needs of the
employee is necessary to motivate them. A company offering all the 5 needs will gain the
loyalty of the employee and will also be a great motivating factor. And the business will also
gain more profitability if the employees are motivated towards the goal.
Offering training is also an integral part of human resource management and in DIY industry
it is very vital. The employees though are skilled they might need some level of training and
development in order to get in par with the ideas and concepts. The level of training and
development was offered within the allocated budget and most of it was used in R&D to
develop new ideas. The training helped the employee’s perform better and keeps themselves
up to date on the latest development and technology.
H2 Thus Human Resources Management has a positive impact on setting up a new
business.

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2.3 Business Process
Any business requires a process to perform their activities. And this process is the nucleus of
the business as everything revolves around these processes. According to Seethamraju, R.
(2012), business process is the main process that directs the employees and staffs towards the
organizational goals and objectives. Barros, O. (2007) says that business process is nothing
but a set of structured operations that are performed to meet the demands of the customers
and the goals of the organizations.
In a new business where the concept is also new, the process has to be streamlined
efficiently. Business process starts right from acquiring raw materials, processing and
manufacturing, inventory storing, in-store display of products, billing and payment and
sometimes until delivery (If the customers want the company to deliver to their house). So it
is not a one step process. The manufacturing process itself can be sub-divided into many
processes, as the concept of DIY requires so much of labor work.
Business process does not stop with just manufacturing and sales. It also includes employee
training and retention, after sales services and managing the financial processes. So business
process concerns the whole process of the business.
According to Vathanophas, V. (2007), the business process is a collection of both
organizational and operational business process. The implemented process should be a mix of
these two, which directs to the goals of the business.

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Figure 2.2 Business Process
Since the concept of DIY is new to India, the process of after service sales becomes vital and
necessary. DIY business concerns more with the designing of the products that are
manufactured. They have a unique design that can be assembled by the customer itself and so
it requires a lot of labor work than machine work. Since there is continuous advancement in a
DIY business, the business process should be made flexible and also a step-by-step process.
And also there should be a quarterly review on the business process and necessary changes
should be made to make it effective and outdated processes should be removed. So having a
flexible and step-by-step process makes it easier to make changes. Business process also
involves having a safe working conditions and protection of the resources of the company.
(Seethamraju, 2012) Having a proper procedure, companies can ensure safety for employees
and company assets. And also since the business process keeps track of all the resources and
raw materials, there will be less wastage. Reducing wastage can improve the profitability of
the company. And since DIY industry involves complex designing there are high chances of
wastage due to negligence of the workers. So proper business process can avoid them
because everything is documented. It will also increase the feel of accountability. Since
everything is documented in a process-oriented way, deadlines have to be met, profit has to

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be achieved and by doing this whole process of the company becomes systematic. Being
systematic is one way of reaching to the success.
Business process on a whole is a bridge between goals of the business and the necessary
actions to be taken. Having a proper business process will surely make a business flourish
and gain competitive advantage.
H3 There is a significant relation between business process and setting up a new
business.
2.4 Financial Planning
Whether it is a joint venture or a new startup, having a proper flow of funds is the most
important aspect. In order for a business to sustain in this competitive market a proper
financial plan is needed. Lack of finance or a financial plan may lead to failure of the
company. According to Danford, D. (2011), a financial plan should be designed in such a
way to improve the profitability and the revenue of the company. To make money, money is
needed. Finances are needed in many times in a business. Right from back up during low
sales period or calamities to planning the marketing. Finances might not be important
compared to the vision and the products offered by the company, but to make all this happen
proper funding is needed. Finances are important for business cycles, growth and payroll.
According to Bensoussan, B.E. and Fleisher, C.S. (2009), every business should have a
proper financial plan to execute. The first and foremost step in the planning process is to
gather information about the current scenario that are needed for the financial plan such as
inventory needed, salary allocation, gadgets needed for the business etc. With these
information a proper objectives has to be set as to when to see break even etc. (Gregson,
2007) Then the actual plan has to be outlined right from how to gather funds to expenditure
on marketing to daily expenditure. The plan made will help the business owners evaluate the
fund needed to run the business and also to decide how much fund is needed from the outside
source. The plan should not only be implemented but also reviewed quarterly and there
should be a check whether the financial expenditure is going as per the plan. Changes should
be made as it depends on lot of factors like demand from customers, environmental
conditions etc. (Danford, 2011)

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Figure 2.3 The Financial Planning Process
Financial sources have been standard right from the beginning. It is internal or external. But
to be on the safer side quite a sum of money should be from the internal source such as
personal capital or from family and friends. Not that taking load from a bank or other private
financial agencies are not good for a business, but the level of risk involved is lesser when the
finance is from internal source. (Gregson, 2007)
Bank Loans one of the external sources of finance are the foremost source to look for after
internal sources. (Rennie, 1984)

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Figure 2.3 Sources of Finance
But looking at the risk, a security has to be given to issue a loan which is usually the over the
asset of the business. This makes the bank secure but puts the business owners at high risk.
And also, loans are not offered in a flexible manner. The required amount of money is not
given to the loan taker, rather a fixed set of loan amounts decided by the bank are the only
optional. So basically the business owners pay more interest on the excess finance they took
from the bank. Also the interest is high when finance is acquired from other external finances
and there is extra pressure on the business owner to pay the interest monthly. The financial
analysis part has to be carefully structured in order to sustain, to maintain the quality of
products and also to carry out the necessary R&D activities.
H4 There is a positive relationship between financial planning and setting up a new
business.

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CHAPTER THREE
3.0 RESEARCH DESIGN
3.1 Research Methods
According to Hair et al. (2007), deductive approach is where a theory is completely studied
without any focus on anything and then data collection is done. Now the data analyzed will
have specific level of focus to the theory. It is basically the reverse process of Inductive
approach. A deductive approach will have no risk whereas an inductive approach might face
a lot of risk, as there may be no theory to the data analyzed. Here in this project the
deductive approach is taken as the theory and the hypothesis, will be evaluated against the
data collected and also to mitigate risk.
Exploratory

The business of Do It Yourself (DIY) hardware store is going to be a totally new concept in
the region where it’s going to establish. So there is going to be a lot of factors that needs to be
researched in order to start a business. There are also no empirical evidences proving the
success of a DIY hardware store in the particular region. So it becomes necessary to explore
in detail and lay the proper groundwork before proceeding further. Exploratory researcwhen

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done at the beginning of the research will be useful to determine the potential growth areas
and also to prioritize tasks to be performed. So in short exploratory research design is done to
explore in depth the theories and factors necessary to run the business. (Hair et al., 2007)
3.2 Sample Unit
Sampling unit for this research will be adults both and men and women who are aged over
20+. Since this business is a new venture and the concept of Do It Yourself (DIY) is used,
the respondents should be able to understand the concept. The respondents who are 20+ of
age will be selected from the region in and around where the store is going to come up i.e.
K.M.S garden, Salem, India.
3.3 Sampling Method
Judgmental sampling a type on non-probability sampling is used in this research. Since the
survey results are going to play a key role in designing the business plan, the answers to the
questionnaire are vital. So the respondents who have prior knowledge of DIY products are
selected and the questionnaire will be asked to answer by them. Selecting the right location is
the key. (Emmel, 2013)
3.4 Sampling Size
The sampling size will be vital. More the response, higher will be the possibility of success of
the business. The sample size will be 100 respondents who will be 20+ of age and will belong
to the same location where the business is going to come up.
A questionnaire will be circulated for them to answer. (Desu and Raghavarao, 1990)
3.5 Survey Location
The survey location will be the areas in and around KMS Garden, Salem. One of the main
reasons for surveying this location is that, the business is going to come up in this area and
also because the population in this area in much higher and diverse compared to the other
areas. So in order to cover larger crowd the survey location was set to KMS Garden, Salem.
(Candau, 2008)

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3.6 Collection Method

The collection method will be from two main data sources. The first one is primary data
source and the second one is secondary data source. (Pandiyan et al., 2011)
Primary Data

According to Axinn, W.G. and Pearce, L.D. (2009), primary data is real time and very sure
about the source of information. Though it is time consuming, the results obtained will be
reliable and useful. There are numerous ways in which a primary data for the research can be
collected. Here I’m using self-administered Questionnaire to collect the data, which will be
the primary source of data. Using Questionnaire for data collection is faster and also has a
greater reach. Since the Internet and social media are playing a major role now, a digital form
of the questionnaire will be set up and will be made available for people to answer over the
Internet, so as to make the reach as wide as possible. A stall will be put up with the logo and
the brand name, and freebees will be given to people who will take up the questionnaire. This
is done to cover the population who has no access to Internet and social media. Also
personally meeting clients and getting the survey done will be one of the options. It’s more

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time consuming and requires higher cost. But the information obtained will be very much
useful and effective.
Secondary Data

The secondary data are facts and Figure s already completed by other researchers and
recorded in the form of articles or books. The data from secondary sources are easy to obtain
and requires lesser cost compared to the primary data. These data can be collected from the
research of other DIY companies survey, databases, Internet search engines etc. They are
mostly past data and using them for a dynamic market may be misleading. SO care must be
taken on processing the information. These data obtained can be compared with the real time
primary data and can be used for comparative purposes. The might also be used to
completing the primary data. (Axinn and Pearce, 2009)
3.7 Ethical Issues
Utmost care has been taken by the researcher to convey all the relevant details about the
research that is required to be known by the respondents. The respondents will be informed
about whom will access their answers and also that the questionnaire is optional and who
doesn’t want to involve themselves can avoid them.
Ethical issues will be avoided and the reason for the survey will be only to use for the
research project undertaken and nothing else. The answers to the questionnaire will not be
leaked to other researchers or shared with any other person except the researcher himself.
Their identity will also not be disclosed to endorse any facts. If needed their identity will be
disclosed only with the permission from the respondent and only if he/she gives a no
objection. Every one who is approached to take the survey has the right to not take it and is
completely voluntary. All the information’s, theories and statistics referred from journals,
articles, websites, books etc. are properly cited with Harvard referencing and no one’s work
is copied or replicated. (Miller, Cross, and Hollowell, 2006)

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CHAPTER FOUR
4.0 DATA ANALYSIS
4.1 Primary Data Analysis and Business Implications
Demographics
1. Please state your gender.
Figure 4.0 Gender chart
Gender Responses
Male 67
Female 30
Total 97
Table 4.0 Gender Responses
Out of the 97 respondents, 56% were male and 44% were female.

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2. What is your age group?
Figure 4.1 Age chart
Age Responses
18 - 20 23
21-30 30
31-40 23
41-50 15
50 and Above 6
Total 97
Table 4.1 Age responses
Out of the 97 respondents that took the survey, the majority were among the age 21-30 with
31% and age group 18-20 and 31-40 have equal percentage of 24%. The lowest is the people
belonging to the age group 50 & above with just 6%.
Business Implication
This shows that people who were aged between 18-40 years old showed interest. And the
target market should be within this limit for a competitive edge.

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3. What is your employment status?
Figure 4.2 Employment status chart
Employment Status Responses
Student 36
Employed 30
Unemployed 15
Self- Employed 10
Retired 6
Total 97
Table 4.2 Employment status responses
The majority of the people who took the survey were students with 37%. And the next was
Employed class of people with 31%. People who are unemployed, self-Employed and retired
were 16%, 10% and 6% respectively.
Since the highest percentage were students and people who were employees. Our target
market should focus on these people. Having the right target customers will help the business
to perform better and knowing whom the products are going to reach helps the business to
have a competitive edge.

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4. What is your monthly income?
Figure 4.3 Monthly Income chart
Employment Status Responses
Below INR 10,000 39
INR 10,000 - INR 29,999 33
INR 30,000 - INR 49,999 15
INR 50,000 and above 10
Total Responses 97
Table 4.3 Monthly income responses
Out of the 97 respondents 40% were earning below INR 10,000 and below. The next was
people who are earning between 10,000 – 29,999 were around 34%. The lowest was about
10% of people who ever earning 50,000 and above.
People with low to middle level of income were the highest in the survey. This shows that the
people with low level of income cannot afford products with higher price. And since the
target market are those, having a competitive and lower price is going to be an advantage to
gain the market share and also the loyalty of the customers.

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5. How much do you spend on Fixing Household items per month?
Figure 4.4 Amount spent Fixing Household items Chart
Amount Spent of fixing household items Responses
Below INR 100 10
INR 100 - INR 299 33
INR 300 - INR 499 15
INR 500 and above 39
Total Response 97
Table 4.4 Amount spent Fixing Household items responses
Among the 97 respondents people spending more than INR 500 monthly on fixing household
items were high with 40% and next was between 100- 299 INR with 34%. The lowest was
just 10% where they spent below 100 INR.
People spending more on fixing household items are higher in numbers. This shows that, if
we offer products with lesser prices and with great quality as promised there are high
possibility of customers landing at our store. And also since the quality of products are at its
best, it becomes even more advantageous for the business.

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6. Do you fix household hardware & furniture’s?
Figure 4.5 Do you fix household hardware & furniture’s Chart
Do you fix household hardware &
furniture’s?
Responses
Yes 10
No 33
At Times 54
Total Response 97
Table 4.5 Do you fix household hardware & furniture’s responses
People who at times fix household items were higher with 56% and people with yes were low
with just 10% out of the total respondent. This shows that people are willing to fix items but
no proper products.
From the results it’s seen that people only fix household hardware and furniture’s at times.
People who told yes were minimum. Here at our store the concept of DIY is introduced. Do It
Yourself is a concept where the process of fixing is easier and the products comes with an
instruction sheet. Tools at every house are more than enough to fix these items. No expertise
is needed. Cheap and Best.

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Business Process
7. I prefer the purchase to be as quick as possible.
Figure 4.6 Bar chart
Response Percentage of response No. Of. Responses
Strongly Disagree 3.1% 3
Disagree 7.2% 7
Neutral 25.8% 25
Agree 25.8% 25
Strongly Agree 38.1% 37
Total Responses 97
Table 4.6 Responses table
Among the 97 respondents, 38.1% strongly felt that they should have a quick purchase and
only 3.1% strongly disagreed to it. While 25.8% were neutral.
From the results we see that people who strongly agreed where higher in percentage. So
making the process of purchase as quick as possible and hassle free attracts more customers
and also makes them contended. Proper training and development and process
implementation is necessary to make the employees work faster and smarter.

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8. It is always better to mention the manufacture date on the products to make the product
more reliable.
Disagree 6.2% 6
Neutral 38.1% 37
Agree 23.7% 23
Total Responses 100% 97
When asked about the mentioning manufacture date on the products, 38.1% were neutral to
it. 20.6% strongly agreed to it, 23.7% agreed to it, while only 11.3% strongly disagreed to it
and just 6.2% disagreed to it.
Mentioning the manufacturing date on the products does not affect the purchase behavior of
the customers to a great extend. But people who feel neutral about this were higher. And who
disagreed also seems to be lower. So it’s always better to have the manufacturing date on the
products to make the products look reliable to the customers and to develop a sense of loyalty
towards the brand.

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9. I would like to know/see how the products are manufactured.
Disagree 10.3% 10
Neutral 46.4% 45
Agree 16.5% 16
About 14.4% of the total 97 respondents strongly disagreed that they need not know/see how
the products are manufactured. About 10.3% disagreed, 46.4% were neutral to it, 16.5%
agreed to it and only 12.4% strongly agreed to it.
The percentage of people who reacted neutral to this also remains to be higher and rate of
disagree seems to be slightly high as well. This shows that not many are interested to see the
whole manufacturing process. Until the products are high in quality and durable, customers
don’t expect anything more. But having the chance to see the how the products are
manufactured would be an added advantage.

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10. Take measures to reduce energy consumption and recycling procedures.
Disagree 3.1% 3
Neutral 15.5% 15
Agree 33.0% 32
47.4% of the respondents strongly agreed to reduction of energy consumption and recycling
procedures. 33% agreed to it, 15.5% were neutral to it. And only 1% strongly disagreed to it
and just 3.1% disagreed to it.
From the results people feel that eco-friendly measures has to be taken by the business. As
part of the corporate Social Responsibility, energy consumptions and usage of plastic will be
considerable reduced. Renewable source of energy like solar panels will be used. Also
recycling procedures and proper disposable of waste will also be implemented. This will
make not only the customer loyal but will make the mother earth better

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11. Use of raw materials from overseas is attractive for the business.
Disagree 12.4% 12
Neutral 30.9% 30
Agree 18.6% 18
About 30.9% were neutral and almost 18.6% agreed and 17.5% strongly agreed.
But also 20.6% strongly disagreed and 12.4% disagreed to it.
Using of quality raw materials from overseas is a bit expensive and the people who took the
survey had varied views on this. But from the business point of view, to maintain the quality
of the products and also to maintain the price of the product certain imports from overseas is
necessary. It will definitely be a advantage after the customers start using the products.

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Human Resources
12. In Store staffs should be friendly and welcoming.
Disagree 5.2% 5
Neutral 10.3% 10
Agree 28.9% 28
Out of the 97 people who responded, 53.6%strongly agreed that the in store staffs should be
friendly and welcoming. Also 28.9% agreed to it and 10.3% were neutral. Only 2.1% and
5.2% strongly disagreed and disagreed respectively.
Any customer wouldn’t want the customers to be rude and impolite. From the survey it is
pretty much certain that they think the same. So selection of candidates for all the roles
should be dealt carefully and proper training and rule set should be set for the employees to
follow.

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13. The Staffs should be knowledgeable about the products and services offered.
Disagree 6.2% 6
Neutral 51.5% 50
Agree 17.5% 17
51.5% were neutral to staffs knowing about the products and services offered. 20.6% and
17.5% strongly agreed and agreed to it respectively. Only 4.1% strongly disagreed and 6.2%
disagreed to it.
Proper knowledge of the products and services becomes very much necessary for employees
so as to make the customers know about the product. The results proves that people think the
same as the percentage of disagree is lesser. This requires proper training of the employees
and keeping updated about the new technology implemented in manufacturing and
production. There should a communication bridge between the manufacturing department
and sales department to achive this.

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14. The sales and service team should have a good command over English and the local
dialect.
Fig4.13 Bar chart
Disagree 11.3% 11
Neutral 17.5% 17
Agree 26.8% 26
32% strongly agreed, 26.8% agreed, 15.7% were neutral, 11.3% disagreed and 12.4%
strongly disagreed. Seeing this data, people who have agreed are higher.
Customer cannot be limited to who visit the store. There will be different kinds of people
from different background. Tackling and serving all of them will be the main aim to achieve
and gain market share. Which in turn will benefit the company with more profit. So the
employees should be able to have good command over English and should be able to speak in

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the local dialect where the store is located. This will ensure total coverage of all the
customers.
15. The employees should not keep the customers waiting for long.
Disagree 7.2% 7
Neutral 14.4% 14
Agree 34.0% 33
40.2 % strongly agreed, 34% agreed while only 4.1 % strongly disagreed. And 14.4% were
neutral and 7.2% disagreed.
Any customer who is waiting to be attended by the staff will get furious and angry and that in
turn will put a bad image on the company and the brand value of the whole business. The
customer should be immediately attended by any of the staffs and should be directed. To

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ensure this happens a team of staffs called the hospitality team will be welcoming the guests
and directing them to the respective area where the products are.
16. The employees should be aware of the profit and loss that the company faces.
Disagree 21.6% 21
Neutral 33.0% 32
Agree 16.5% 16
33% were neutral and 23.6% disagreed and 15.6% strongly disagreed. Only 12.4% strongly
agreed to it and 16.5% strongly disagreed to it.
People who feel neutral about this are higher in percentage and also who disagree to it is
higher than who agree to it. This will not affect the purchase behavior of the customers. But
employees who know about the profit and loss of the company become loyal to company and

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will feel that their work is getting paid off. It will also help the employees more motivated
towards the goals.
Market Analysis and Marketing Strategy
17. I do research (check ratings, customer feedback, etc) about the store on social media
before trying out the place.
Disagree 16.5% 16
Neutral 10.3% 10
Agree 22.7% 22
This has got varied results where 20.6% strongly disagreed, 16.5% disagreed, 10.3 were
neutral, 22.7% agreed and 29.9% strongly agreed.
When social media and technology started taking over people had access to everything over
the Internet. Using this people read feedbacks and reviews about the place they are going to

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visit. So it becomes increasingly important for the business to market itself well. But there are
few people who still not into technology and that is seen from the results above. But social
media marketing is taking a strong stand nowadays
18. Offers and promotions play an important role when I'm choosing a place to buy.
Disagree 7.2% 7
Neutral 23.7% 23
Agree 40.2% 39
About 22.7% strongly agreed, 40.2% agreed, 23.7% were neutral, 7.2%disagreed and 6.2%
strongly disagreed.
From the statistics, we see that people do look into offer and promotions. So having offers
and promotions from time to time will increase the frequency of visit of customers to the
store and will also increase the purchase behavior. This will be very vital as the main revenue
stream is by sales and service.

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19. New or different type of products is definitely an attraction.
Disagree 17.5% 17
Neutral 27.8% 27
Agree 30.9% 30
Out of the 97 respondents 13.4% strongly agreed, 30.9% agreed, 27.8% were neutral,
17.5%disagreed and 10.3% strongly disagreed.
Here we see that people do need change. Change is the only thing that will keep the business
moving forward. So offering the same types of products and services will make it
monotonous for the customers. Innovation in products and services has to be one of key
objectives to sustain in the competitive field. SO it is important to have a strong R&D
department.

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20. Price is another factor that I consider before making a purchase.
Disagree 4.1% 4
Neutral 9.3% 9
Agree 36.1% 35
Here, Out of the 97 respondents 35.1% strongly agreed, 36.1% agreed, 9.3% were neutral,
4.1%disagreed and 15.5% strongly disagreed. So from these results it is proved that price
does matter to the customers.
Apart from when there is a need, people do look at the price to make a purchase. This is seen
from the results above. So it is increasingly important to have a nominal cost for the products
offered. Other operational costs have to be reduced in order to offer competitive prices for the
products. Offering a low price makes the purchase behavior even higher.
21. I wouldn't mind driving long to see a new store with new innovative products.

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Disagree 25.8% 25
Neutral 21.6% 21
Agree 14.4% 14
Having a prime location is one of the best strategies that is necessary for a start up business.
And also in country like India where the petrol prices are rising exponentially, nobody would
want to price to a far place just to purchase from a store. This is shown from the results
above, where 29.9% of respondents have strongly disagreed to it. So for a business to excel
having a prime location is necessary. KMS garden one of the city center is the location for
this business.

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Financial Planning
22. Proper financial strategy is necessary to run a business effectively
Disagree 2.1% 2
Neutral 12.4% 12
Agree 38.1% 37
2.1%disagreed and 0% strongly disagreed.
Any business needs to sustain in the market. To make this happen, proper financial strategy is
important. This is because funds are the core of any business. To maintain the funds are
flowing throughout proper financial strategy is necessary.

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23. Bank loan is one of the best options for start-up businesses.
Disagree 11.3% 11
Neutral 53.6% 52
Agree 12.4% 12
13.4% strongly disagreed, 11.3% disagreed, 53.6% were neutral, 12.4% agreed and finally
9.3% strongly agreed.
From the results wee see that the people who are neutral are high in percentage. It shows that
bank loan is not the best option. Since bank loan requires a lot of procedures and a guarantee
is required from the bank. And the seest of the business is usually given as one. So as far as
possible funding the business with internal source of funds is better than seeking external
source such as bank loans etc.

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24. Businesses will surely succeed if there is enough investment to maintain the quality of
products.
Disagree 6.2% 6
Neutral 15.5% 15
Agree 32.0% 31
Quality is the main thing that people see in any products after seeing the price. One of the
main reasons that business fail because they cannot keep up the quality of products in a long
run. But this is very vital because all the loyal customers will start searching for alternatives,
which is not healthy for a business. So quality of business has to be maintained. TO achieve
this proper investments are needed to manufacture the products with same quality. All the
sales and profits have to be streamlined and used properly.

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25. It is better for owners to fund their own business before seeking external funds.
Disagree 4.1% 4
Neutral 9.3% 9
Agree 36.1% 35
4.1%disagreed and 15.5% strongly disagreed. Funding their own business is always better
than any other options.
Yes it is always better to fund their own business because the risk involved is lesser than
other forms of external funding. But it depends upon the capacity of the individual who is
investing in the business. If internal source of finance is strong then no need of bank loans
and other external sources.

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26. Indian government/ NGOs offer a lot of financial support to young entrepreneurs.
Disagree 10.3% 10
Neutral 32.0% 31
Agree 23.7% 23
Out of the 97 respondents 12.4% strongly agreed, 23.7% agreed, 32% were neutral,
The Indian Government has started some new policies to develop to support start up business
Startup Intellectual Property Protection (SIPP), The Atal Innovation Mission (AIM), Self-
Employment and Talent Utilization (SETU) are some of the policies that aid new business
startup’s. They not only help with the funding, but also reward and recognize new innovation
and technology. Government wants to promote investment into the country though start up’s.
And this might just useful support for the business from the government side.

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CHAPTER FIVE
5.0 BUSINESS MODEL

5.1 Business Model Canvas

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Figure 5.1 Business Model Canvas
New Business Drivers
New Innovation in home furnishing & hardware products
Priority
Customer

Superior
Value
Propositions
Channels

Key Activities

Value Chain
Based
Resources
Identity

- Students

- Singles

- Small
families
with
lower
income

- Value for money
with highest quality
- Properly Targeted
customers
- High level of
customer service
(After Sales)
- Redefining
concept of small
household fixes
- Website
- Email
- Social networks
- Events &
Exhibitions
- Word of mouth
- Effective
production and
manufacturing
of DIY (Do it
Yourself)
products

- Top-notch
customer
service.
- Partner
Suppliers
and
merchants –
RS
Suppliers
- Alias with
recruitment
agency
- Delivery
networks
with Truck
solutions
- New
concept
called DIY
– Do It
Yourself.
Quality
products,
which can
be
assembled
easily.
- Unique
design.
- User-
friendly
store.

Competition /
Competitive
Strategy

- No competition as
of yet in the state.
- International
competition from
IKEA, MR. D.I.Y
Relationships

• Excellent
rapport with
the suppliers
• Tie up with
international
vendors for
product
development
• High customer
relation.
• DIT TEAM
• Distributors
Key
Partnership
- Raw
materials
supplying
companies.
- Delivery and
transportation
companies.
Cost and Cost Budget
We follow Flexible Budgeting
Fixed Cost covered by investment
Variable cost covered by revenue streams
Mr. Fix IT is cost driven. Manufacturing,
Human Resources, Operation costs.

Revenue Streams and Cash flow

• All Revenue from customers on purchase of
Products and also on after sales services.
• Positive Cash Flow

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5.2 Business Model Elements
Priority Customers

The main revenue are the customers in any business. For a new startup with a new concept (DIY)
that has never been in the market it becomes increasingly important to have proper target customers.
Students, Singles, small family with low-income levels are the main customers for Mr. Fix It. Low
cost and high quality will be the value offered.
Super Value proposition

The main value proposition we offer is high quality products at prices as low as possible to benefit
the customers. Value of every penny the customer spends. Also We offer high level of after sales
customer service. We care for the customers and even after the purchase of the products maximum
satisfaction will be offered to the customers in the event of malfunction. The concept of DIY is also
one of the value we offer. It becomes easier for the customers to carry their products back home and
fix it with just tools available in house. With the instruction sheet with every product they purchase
it will be a fun filled activity for the customers to fix their own household items.
Channels
The distributing channels are the main source of advertising our products and service to wide range
of audiences. It is the main medium to make people aware of the products and also the after sales
services we offer. There are two main channels. One is internal and the other is external. We use
both types of channels here at Mr. Fix It. The internal channel will be the Website of the company
with A-Z details about Mr. Fix It. The external channels will be through distributors, Social Media,
events and Exhibitions.
Key Activities
The key activities of the company are nothing but the activities that the company needs to perform
to gain success. This includes the effective production of DIY products. The concept of DIY is
challenging because manufacturing a finished product is easier. But to manufacture a finished
product, which should be assembled later, is bit challenging and time consuming. So the main
activity is to manufacture and pack the products that can be transformed into finished goods by the
customer. The next activity is the after sales customer service. Preparing the customers mind about

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the new concept of DIY will be challenging in the initial phase. So providing state of the art service
to customers will be one of the main activity to gain customer loyalty and brand image.
Value chain based resources
The value chain based resources are the essential elements that are required to run the business. For
the raw materials partnership with RS suppliers has been taken into consideration. Professional and
healthy relationship with the supplier will be mandatory. The Truck Solutions are the well-known
transportation services in the state and an agreement is signed for the transportation of raw
materials, finished goods and delivery to far off places. Having a long tern relationship with them
will prove beneficial for the company. Apart from these two main resources, other partnerships,
which are needed, will also prevail when the need arises.
Identity
The main identity that Mr Fix It will have is the products we offer. The concept of Do It Yourself
(DIY) will be the main attraction for our business. Also the unique design and the slashed prices on
the products will also be eye-catching for the customers to buy in our company.
Also hardware shops and other household supplying stores are usually unapproachable and dirty.
Here at Mr. Fix It Store, we promise to offer a user-friendly environment to shop with a clean
environment.
Competitive strategy
Since Mr. Fix is the first ever-DIY store in the state, there will not be any potential competitors in
the market for sometime. Any potential competitors will not hinder the initial start to the business.
The local hardware and furniture and household selling vendors may be competing. But since our
concept on the whole is different from the conventional design we will be having the competitive
edge. International competitors like IKEA, Mr. DIY are the main potential competitors while trying
to expand globally in the future.
Relationships
Having an excellent rapport professionally will be very much beneficial for the business
development. At Mr. Fix It customer relation comes first. Service and Support to the customer will
be focused. Since raw materials also come from overseas, the relationship with international

54

vendors is also necessary. Relationship with DEPARMENT OF INTERNATION TRADE (DIT) is
mandatory to import raw materials.
Key Partners
Mr. Fix It will run on single ownership and no partners. Other than owner ship the key to success
will be developing a proper relationship with the suppliers and vendors. Transportation and delivery
will need partnership with Truck solutions.
Revenue Streams and Cash flow
The main revenue for the company is by the customer purchase of products i.e. asset sale. Also
revenue stream will be from after sales service and delivery to customer place. Also media will be
contributing to the revenue stream through ads and promotions. Here at Mr. Fix It we thrive to
reduce operation cost to maximize profit and offer low price to the customers. There is a positive
cash flow.
Cost & Cost Budget
The cost for the company will be the Fixed cost that is spent on human resources and the
manufacturing unit, which is going to be recurring every month. This will be covered from the
investment. Then revenue streams will cover the variable cost like operational cost.
Mr. Fix It is cost driven and we follow Flexible Budgeting (FB) since it is start up company.

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CHAPTER SIX
6.0 BUSINESS PLAN
Company Name
Mr. Fix It – The DIY Store
Company Logo
Figure 6.1 Company Logo
6.1 Mission & Vision
Mission
To Bring Innovation in the field of Hardware and Household equipment’s to serve the
customers better.
Vision
Our vision is to have the best quality products available to the customers at affordable price
with the use of cutting edge technologies.
6.2 Objectives

• Offer products with the best quality available
• Become the first recognized DIY store in the state.
• Build a strong customer relation
• Meet the desired sales quota and break even in 3 years time

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• Enter markets of different cities by franchise. (In 3 Years)
• Implement a highly organized business strategy for a steady growth
6.3 Marketing Plan
Segmentation, Targeting and Positioning
The most important aspect to make the business successful and profitable is to have a proper
marketing plan. The marketing plan is nothing but the collective measure of Segmentation,
targeting and Positing strategy.
Figure 6.2 STP Process
Segmentation
Demographic and Psychographic
Mr. Fix IT – The DIY hardware store is actually a new concept of do it yourself. The main
aim of this store is to make the customers fix most of the household products by themselves
and also easy to carry to places. So the target customers will be mostly aged between 18-40
ages that are college students, single working individuals or a small family who have moved
to a new place. These people require household things with good quality and low price. Also

57

students staying away from home need temporary things for their hostels and room with low
prices and easy to assemble products.
Since the concept of DIY (Do It Yourself) is a new, people with ‘try new’ attitude is
necessary. People who have the attitude of welcoming new innovations and concepts are
necessary to make the business grow. They will be the main marketers as they welcome and
try out new services and word of mouth marketing is very much powerful.
Targeting
Mr. Fix It – The DIY Hardware store targets audiences of both the gender (Male and
Female). Since the store is not something like a regular hardware store which may not be
pleasing to many. Here, the shopping experience is different and the products can also be
assembled by both the genders. Most of the target is on customers who are 18+ of age and
mainly on single working people and students who are staying away from home. Generally
the target market is for all race, all wage and all sexes. Making the target as narrow as
possible will make a direct hit and will help in gaining more reach and higher profit.
Positioning
The process of positioning is to make the customer move from the knowledge of the product
to actual purchase. The main aim of the store is to make products with high quality and low
price and which are easy to assemble. The position of the products in the market will be
crucial as the whole concept of DIY is new. Since there are no competitors the process of
positioning will be easy, but should be carefully strategized. The store is going to come up
with all these products, which are cheap, affordable, and in high quality. The design is also
unique and one of a kind. Also most of the people living around the store are either working
or studying and are from outside the city or state. Their demand for these products will be
higher with these people as it is cost effective and has a unique design.

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Figure 6.3 Positioning Map of Mr. Fix It
6.3.2 Marketing Mix
Having the right product at the right place with the right price is very important for a business
to excel. Therefore marketing mix becomes very important to develop and enhance the
business of Mr. Fix It – the DIY Hardware Store.
Figure 6.4 Marketing Mix
Price
The price strategy is one of the foremost priorities of the DIY business. Having the price low
with some amount of profit is going to be a very effective to gain market share and also to
High
Quality
Low Cost High Cost
Low
Quality

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gain competitive advantage. And also since the target market of the business has lot of
college students and fresh working candidates, having a comparative lower price is going to
make the purchase decision of the customer higher. Also having less number of workers at
the showroom and using other technologies to cut cost wherever possible will also make it
even easier to have lower price.
The products are going to be of equal quality under the brand and the prices are going to be
the same throughout all the products. This will create an impression that the products quality
doesn’t vary by price. Offering top-notch products and services with reliably low price will
make the customers retain to Mr. Fix It.
The payment methods for the business is going to be by cash and by point of sales
(Card Payment).
Product
The products are the key to our business. The range of household products is going to be in
the concept of DIY i.e. Do it Yourself where the customers will be able to fix their own
products without any professional help. Initially the products will be hardware and household
items such taps, pipes, tubes, bulbs, switches, rugs, tools, clothes storage bathroom storage,
lighting, small storage cabinets, beds & mattresses etc.
Also keeping the current business environment in mind, care will be taken to change the
product line from time to time to stay updated in the market. This will keep the products of
the brand up to date and also fresh. Updating to the current trend is a must to sustain in the
market. Also seeing the buying behavior of the customer, new products and services will be
introduced. This way we can have a variety of product line to satisfy the needs of the
customers and provide a wide range of products that they heavily rely upon.
Promotion
In India, the main source of promotion is through TV advertisement. About 75% of the whole
population watch at least 1 hour of TV on a daily basis. So this makes it very important to
make a proper advertisement on the television. Also other forms of ATL (Above The Line)
marketing promotions such as Newspapers, Radio, Cinemas will be considered. But since the
investment is very high in this type of promotion, the extend up to which promotion is done
in ATL is a bit less.

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Since social media is becoming the platform of marketing nowadays, we will target on it to
promote our brand. Investment is very low but the reach is going to be massive within lesser
time. Facebook, Twitter, YouTube adds and emails will be the target. Other most important
thing in our brand is that we offer promotions and discounts from time to time to attract more
customers. It is proven that discounts and promotions increase the buying decision of the
customer. So adapting this we will ensure that the customers gain maximum advantage from
our offers and discounts to grab the customers attention.
Figure 6.5 Types of Promotion
Place
The current location that has been decided is KMS garden, Salem. The location is comprised

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of lots of hostels and bachelors residing and also has lots of colleges and a IT Tech park
nearby which is a source of our potential customers. The area is going to ideal because the
colleges and Tech parks are going to be there and the flow of people to this area is not going
to decrease at time soon. The buying power among the target people is also going to be
higher as the products sold are not luxury products but are necessities.
6.3.3 Strategic Growth (Ansoff Matrix)
Figure 6.6 Ansoff Matrix
Market Penetration
To sell more products to the customers and also to increase the loyalty of the customers is
what is called as market penetration. The business hours are not the traditional 9am to 5pm.
We have decided to extend business hours to make it easier for customers to enter the store
and buy the necessary products. Also for customers to buy products easier we have priority
lane for customers with lesser products and also for people who are physically challenged
and aged.
In the future looking at the demand, we are planning to have a snack bar at our outlet for
customers who would like to snack on while shopping. Also we will have a loyalty program
plan where people can use their cards while purchasing and loyalty points will be rewarded
(terms and conditions apply)
The points can be redeemed at the snack bar or for cash rebate on their purchase.

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By offering all these extra add on we can penetrate the market and sell more products to the
same customers.
Market Development
Entering a new market and focusing on a different target customer is what market
development is. Here in Mr.Fix it, we focus mostly on household articles for personal use
that is in smaller qualities and sizes. Seeing the demand for the DIY products in about 3 years
we are planning to enlarge the business by redefining the products for business purposes such
as hotels, Offices etc., which require products that are similar to household, uses. This way
we can capture the B2B market sector also. Expanding the business to other states and cities
by using the concept of franchise is also one of the long-term objectives.
Current B2C markets.
In 3 years time B2B market and franchise
6.4 ORGANIZATIONAL / OPERATIONAL PLAN
6.4.1 Organizational Structure
It will also be easier to see who to refer to when there is a problem or a need. The Figure
shown below will be the organizational structure of Mr. Fix It – The DIY store. Having a
proper organizational structure becomes important when there is a need to have an effective
communication with the top level and the bottom level management.

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Figure 6.7 Organizational Structure
6.4.2 Human Capital Planning
Human capital planning is one of the most vital aspects when starting a new business. It’s
with these people that the growth of the whole companies relies on. Though the customers
play a vital role in growth of the company, the employees of the company equally contribute
CEO
Managing Director &
CFO
Head Manufacturing
R&D Anlayst
Manufacturing
Workers
Quality Analyst
Head - Marketing
and Retail
Promotion & Media
Market analyst
Public Relation
Head - Floor
Manager
Cashier
Sales Assistant
Janitors
Head - Human
Resource
Recruting team
Payroll team
Traning &
Development team
Personal Assistant
(PA)
Legal Advisor
(Lawyer)

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to the development of the company. So right-minded and efficient people must be employed
in the company.
Recruitment and Selection
The human resource department will take care of the whole process of recruiting and
selecting candidates for each of the role. The Managing director will directly appoint the
Head of each department with the consent from the CEO of the company. The job description
and requirement will be given to the Human resources Head by the personal assistant of the
managing director and will be asked to develop a smooth and organized recruitment process.
The Job vacancies will be put up as ads on billboards, TV, social media and in the company
website. Since the process of manufacturing the DIY products require potential candidates a
wide range of talents are necessary. The resumes will be asked to be submitted online or at
the store physically and the shortlisted candidates will be called for further process.
The position under manufacturing alone will be sent to the CEO for the last stage on
interview while the Head of Human resources can directly appoint others.
Training and Development
Since the whole business concept is new and also the price of the products is lesser, new
technological advancements are necessary to have the best output. Due to this there will be
training and development sessions organized by each department monthly by the head of the
departments with the advice from the managing director. This will ensure keeping the
employees updated with the new technology and will also ensure to keep the integrity intact.
The process of training and development will be for 5 hours organized inside the meeting
room and at the inventory for the manufacturing department staffs.
Performance Evaluation
The business, which focuses on delivering the best to the people, needs totally dedicated
employees. Having this in mind the human resource department has been given a great task
of evaluating the performance of the employees by the process of continuous evaluation. This
will help to provide training and development to the employees and also to fire the non-

65

productive employees. Benchmarks will be set which is time bound for employees to achieve.
This will help the business to achieve the desired goals and objectives.
Employee Benefit and Incentives
Having said that the employees play a key role in the development of the company,
rewarding them with incentives and bonuses is necessary which will help them to stay
motivated and develop a sense of loyalty towards the company. Apart from yearly bonus and
increments, there will be incentives and awards for the employees who perform well and who
are found the best from the continuous evaluation process. Also, the employees can enjoy
15% off on all the products anytime in the year from the store. This cannot be clubbed with
the on-going promotion in the store.
6.4.3 Value Chain Analysis
The process of value chain analysis is nothing but a framework that helps to find out the
business activities that can help in creating value and also to gain competitive advantage.
Here in Mr. Fix It we have a properly designed value chain analysis as our mission and vision
will be reflected through how our business process is and how much justice we do to
customers satisfaction.

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Figure 6.8 Value Chain Analysis
Primary Activities
Inbound Logistics
The raw materials required for the manufacturing is received from different suppliers both
locally and globally. The personal assistant of the managing director maintains the
relationship with the suppliers. The raw materials are stored in the inventory for further
production process. The suppliers will be from Malaysia for the raw materials since there is
abundant source of raw materials that will suit the DIY concept. And locally from the state
and from the city materials will be shipped. Since the DIY concept lowers the cost on
packing the products it becomes easier to facilitate the inbound logistics.
Operation
The process of modeling out the raw materials happens in the factory near the inventory. The
factory is the heart of the business where the main operation of production happens. The
inventory is located very close to the factory to ensure reduction is transportation cost.

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Outbound logistics
The business operated from one store located in KMS Garden. The store will have all the
finished products and the customers will bear the cost of transportation of the products to
their places. Mr.Fix It also offers delivery services at nominal rates for transportation inside
the city. There are two types of delivery services. The first one is for products weighing 20Kg
and below. It will cost around INR 150 and for parcels 25Kg plus will be charged 300 and
above according to the weight and quantity.
Marketing and Sales
Marketing will be mostly on social media marketing with a digital catalog attached to it. We
rely mostly on the digital catalog as customers will have a view about what are the available
things in the store and this will be a potential marketing strategy, as the customer will know
where to get it when in need, rather than just checking out the store. Since the target
customers are students, singles and families with less income we try to keep the price as low
as possible. Apart from this there will be media advertisements, sale promotions and also Mr.
Fix It events organized to make people aware of what we sell.
Service
The most important aspect is service. The care we show towards the customer while buying
things will still be there even after they purchase. This will put a impact to the customer that
we still care for them and the products we sell. We have online and telephone customer care
services available during the business hours for any assistance. We also offer two days refund
policy where the customers can refund the products if its damaged or if they don’t find it
appropriate provided the products are in good condition as when bought.
Secondary Activities
Infrastructure
The organization has a hierarchical organization structure and the managing director with the
advice and words from the CEO runs the management. The personal assistant of the

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managing director with the help of the cashier deals the finance and accounting part of the
business. Quality control measures are taken seriously and the employees thrive to deliver
top-notch products. The Quality analyst will examine all the products from the production
and will be passed to sales only after test is passed.
Human Resource Management
The human resource department deals the whole process of recruiting and selection, training
and development. The process of HRM will be reviewed by the managing director every
quarterly to make changes that best suits the current market trend. By this way effective
employee management can be achieved which will also help in achieving the goals and
objectives.
Technology Development
One of the most dynamic areas is the technological development. Staying ahead in the market
is by implementing and using the current latest technology in every means possible. The
R&D team will be continuously looking for new technologies that hit the market and analyze
whether it’ll be best suited for the company. If so every quarter there will be a revise in which
the whole business is running. Also new products will be designed and developed adopting
the new technology.
Procurement
For the procurement of raw materials for the products, Mr. Fix It will be focusing on having a
very smooth relationship with the suppliers who are there both locally and globally. Having a
strong bargaining power with the suppliers will be our main focus.

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6.5 Financial Plan
Start up Cost
Table 6.1 Start-Up Costs

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6.5.1 3-year Forecast Income Statement

Table 6.2 Forecast Income Statements

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6.5.2 3-year Forecast Balance Sheet
Table 6.3 Forecast Balance Sheet.

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6.5.3 Assumptions, Explanation and Justification

The financial plan for the project is designed and forecasted for 3 years assuming that there
will no natural calamities or disaster that might affect the business process and also the Indian
Economy will continue to be stable.
Startup Cost

The DIY business requires a lot of start up items and other licenses. The cost for all of it is
mentioned in the table. The total investment needed for the business with back up funds for
the employees comes around INR 18325000. The total cost is invested by the owner which is
around INR1,90,0000. No bank loans and other external source of funds are taken to avoid
any risks.
Income statement assumptions
Table 6.4 Sales Forecast
The growth rate from is assumed as shown in the table above. The growth rate from 2017-
2018 is high. Since the products are new and marketing and promotional activities are high
the growth rate is rising. But from 2018-2019 it is decreased as the market is stabilized and

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only the targeted customers come. So after 2019 (3 years after the business startup) new
product line and strategies will be implemented.
Depreciation Expense
Table 6.5 Depreciation Calculations
Table 6.6 Assumptions
The residual value for PPE will be around INR 10,00,000 with a expected life of 15 years.
The delivery truck has no residual value but will have around 12 years of expected life. The
depreciation is calculated based on these assumptions, which is shown in the table above.

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Retained Earnings Statement

The retained earning is calculated as shown in the table below.
Table 6.7 Retained earnings
Ratio Calculations
Table 6.8 Ratio Analysis
From the table, observing the liquidity analysis it is pretty clear that the assets are high and
therefore the liabilities will be covered.

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The profitability analysis shows the gross profit margin and the net profit margin. The net
profit margin is increasing which is a proof that the business is having a positive growth.
The Debt ratio shows the debt to assets and debt to equity. But there is one more important
ratio, which is gearing which tells about the financial risk involved in the business.
Gearing
Gearing Debt/ Debt+Equity 0.02 0.02 0.02
From the table we can see that the gearing for all three years is very less and hence the risk
involved with the business is low. The reason might be because the whole business is funded
from internal source.

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6.6 Gantt Chart
Table 6.9 Gantt chart

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6.7 Critical success Factor
For any new business to flourish critical success factors (CSF) are very important. To achieve
the objectives and goals of the business these success factors play a vital role. The success
factors should focus on the objectives of the firm and how to achieve them. The success
factors for Mr. Fix It store after properly analyzing are as follows
• Increase competitiveness against the other local business
• Highly successful relationship with the suppliers
• Staff retention
• Customer-focused training and development
• Increase Customer service and feedback
• Secure funds for future expansion
6.8 Risk Mitigation and Contingency Plan
After carefully studying the Indian market, there were certain risks involved in starting up a
business in India. No business is a cakewalk to success. There will be risks involved, which
can be tackled with efficient strategies. The following are the major risk factors, which might
affect the business.
1. Policy changes and Regulatory Risks
Degree of Risk High
Type of Risk External
India is prone to policy changes due to changes in government policies and change is
government. And also due to increase in corruption rate it becomes even more stressful to run
a business in the state. These changes in the policies can be fatal at times and it is necessary
to stay aware of the changes and to plan before hand.

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Contingency plan
The risk caused by macro environment is very hard to mitigate, as it is not under our control.
But having business policies and strategies that are open and centralized can help to reduce
the risk caused. Also motivating the employees to be more flexible to changes can also help
to recover from the effects caused by this particular risk. The legal advisor of the company
will take care of issues that have to be tackled legally and which are under the government
control.
2. Lack Of Internal Talents
Degree of Risk Low
Type of Risk Internal
Here in this business training and development is a must to all the employees particularly in
the Manufacturing department as the concept of DIY is new. Hiring and training the
employees is a must and investment is training and development is huge. Once the trained
employee feels that the company is not giving proper recognition, there are high chances of
losing the employee. And hiring a new employee will cost more and training them will take
time. This way we will loose the talent from the company and its impact is high.
Contingency plan
To avoid losing internal talents proper rewards and recognition is given to the employees in
our company. We have the motto “Employee first, Customers next”.
By saying this we will thrive our best to keep the employees happy and contended and will
make them feel that every work they do counts to the development of the company. And also
we have a proper ‘Continuous Assessment Appraisal’ methods to Asses the performance of
the employees from time to time.

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3. Technological Change
Degree of risk Medium
Type of Risk External
Technological risk can be vital to the business and threaten the assets. System breach,
network failure and all other suspicious activities happening around the business due to
technology lack can cause a huge damage to the brand reputation, can prevent from reaching
the goals and objectives and may even lead to a lawsuit. Also using new technology to
produce new and efficient products becomes necessary to be competitive.
Contingency plan
A separate IT team will be working on the technological aspects regarding the business.
Security testing, PCI testing, data protection and privacy testing will be updated from time to
time to check the software.
Also, the R&D department will be working on new technological innovation in the DIY
fields and will implement if it suits the market and the demands of the customer
4. Financial Risk
Degree of risk Medium
Type of Risk Internal & External
Credit availability, fluctuation in currency value, prices of commodity etc. are how financial
risk will arise. Also depending on more on lenders, suppliers will result in financial exposure.
Source of finance from external source will result in higher risk towards the business.
Contingency plan
The source of finance for the company is 90% from internal source (Partners) and only 10%
is from external source such as lenders, banks etc. This will considerably reduce the degree of
financial risk. Here at Mr. Fix It store we have an internal audit to analyze the and provide

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security against currency fluctuations, credit availability etc. Also necessary Hedging
strategies will be developed to keep the level of risk as low as possible.

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Shop, The.
Axinn, W.G. and Pearce, L.D. (2009) Mixed method data collection strategies. Cambridge:
Cambridge University Press (Virtual Publishing).
Barros, O. (2007) ‘Business process patterns and frameworks’, Business Process
Management Journal, 13(1), pp. 47–69. doi: 10.1108/14637150710721122.
Bensoussan, B.E. and Fleisher, C.S. (2009) The financial times guide to analysis for
managers: Effective planning tools and techniques. Harlow, England: Financial Times
Prentice Hall.
Candau, F. (2008) ‘ENTREPRENEURS’ LOCATION CHOICE AND PUBLIC POLICIES:
A SURVEY OF THE NEW ECONOMIC GEOGRAPHY’, Journal of Economic Surveys,
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Danford, D. (2011) ‘Book review of “the business of life: An ‘Inside-Out’ approach to
building a more successful financial planning practice”’, Journal of Financial Therapy, 2(1).
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Desu, M.M. and Raghavarao, D. (1990) Sample size methodology. Boston: Academic Press.
Emmel, N. (2013) Sampling and choosing cases in qualitative research: A realist approach.
London: SAGE Publications.
Gregson, A. (2007) Pricing strategies for small business (numbers 101 for small business).
Vancouver, B.C.: Self Counsel Press.
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Bank Publications.
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Chichester, England: Wiley, John & Sons.
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advantage’, Marketing, 42(2), pp. 118–126. doi: 10.5937/markt1102118k.
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environment today: Business in its ethical, regulatory, e-commerce, and international setting.
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Pandiyan, V., Sundram, K., Govindaraju, L. and V G R Chandran A (2011) Research
methods: A simple guide for business undergraduates. Shah Alam,, Selangor: University
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Appendix
i Ethics Approval Form
APPLICATION FOR ETHICS APPROVAL

Application for ethics approval v2 May 2013 1
When undertaking a research or enterprise project, Cardiff Met staff and students are obliged to complete
this form in order that the ethics implications of that project may be considered. If the project requires
ethics approval from an external agency such as the NHS or MoD, you will not need to seek additional
ethics approval from Cardiff Met. You should however complete Part One of this form and attach a copy of
your NHS application in order that your School is aware of the project.
The document Guidelines for obtaining ethics approval will help you complete this form. It is available
from the Cardiff Met website.
Once you have completed the form, sign the declaration and forward to your School Research Ethics
Committee.
PLEASE NOTE:
Participant recruitment or data collection must not commence until ethics approval has been obtained.
PART ONE
Name of applicant: Shivanesan Manaivasagam
Supervisor (if student project): Dr. Vincent Wee
School: Westminster International College
Student number (if applicable): 0228OABOAB0216
Programme enrolled on (if applicable): MBA
Project Title: A business development proposal to set up a DIY
hardware store in Salem, India

Expected Start Date: 14/10/2016
Approximate Duration: 12 weeks
Funding Body (if applicable): Not Applicable
Other researcher(s) working on the project: None
Will the study involve NHS patients or staff? No
Will the study involve taking samples of
human origin from participants?
No

In no more than 150 words, give a non technical summary of the project
The world now is evolving where people are becoming expertise in everything and household objects are the first things that they
do. Mr. Fix It - The DIY Hardware Store is a new start up, which is going to establish a DIY (Do It Yourself) Hardware store in
Salem, India. The main objective of this start up is to sell hardware components raging from tap fittings to pipes and to doorknobs
and all kinds of housewares, which can be assembled by the customer itself and requires no advice from expertise. It is also
conveniently located to serve the customers better. The owner of the store will be Shiva and will be the sole shareholder. The
owner will fund the initial investment to the business and no bank loan or other external source of funding will be used.

85


PART TWO
A RESEARCH DESIGN
A1 Will you be using an approved protocol in your project? No
A2 If yes, please state the name and code of the approved protocol to be used
Not Applicable
A3 Describe the research design to be used in your project
CHAPTER THREE
3.0 RESEARCH DESIGN
3.1 Research Methods
According to Hair et al. (2007), deductive approach is where a theory is completely studied without any focus on
anything and then data collection is done. Now the data analyzed will have specific level of focus to the theory. It is
basically the reverse process of Inductive approach. A deductive approach will have no risk whereas an inductive
approach might face a lot of risk, as there may be no theory to the data analyzed. Here in this project the deductive
approach is taken as the theory and the hypothesis, will be evaluated against the data collected and also to mitigate
risk.
Exploratory

The business of Do It Yourself (DIY) hardware store is going to be a totally new concept in the region where it’s
going to establish. So there is going to be a lot of factors that needs to be researched in order to start a business. There

86


are also no empirical evidences proving the success of a DIY hardware store in the particular region. So it becomes
necessary to explore in detail and lay the proper groundwork before proceeding further. Exploratory researcwhen done
at the beginning of the research will be useful to determine the potential growth areas and also to prioritize tasks to be
performed. So in short exploratory research design is done to explore in depth the theories and factors necessary to run
the business. (Hair et al., 2007)
3.2 Sample Unit
Sampling unit for this research will be adults both and men and women who are aged over 20+. Since this business is
a new venture and the concept of Do It Yourself (DIY) is used, the respondents should be able to understand the
concept. The respondents who are 20+ of age will be selected from the region in and around where the store is going
to come up i.e. K.M.S garden, Salem, India.
3.3 Sampling Method
Judgmental sampling a type on non-probability sampling is used in this research. Since the survey results are going to
play a key role in designing the business plan, the answers to the questionnaire are vital. So the respondents who have
prior knowledge of DIY products are selected and the questionnaire will be asked to answer by them. Selecting the
right location is the key. (Emmel, 2013)
3.4 Sampling Size
The sampling size will be vital. More the response, higher will be the possibility of success of the business. The
sample size will be 100 respondents who will be 20+ of age and will belong to the same location where the business is
going to come up.
A questionnaire will be circulated for them to answer. (Desu and Raghavarao, 1990)
3.5 Survey Location
The survey location will be the areas in and around KMS Garden, Salem. One of the main reasons for surveying this
location is that, the business is going to come up in this area and also because the population in this area in much
higher and diverse compared to the other areas. So in order to cover larger crowd the survey location was set to KMS
Garden, Salem. (Candau, 2008)

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3.6 Collection Method

The collection method will be from two main data sources. The first one is primary data source and the second one is
secondary data source. (Pandiyan et al., 2011)
Primary Data

According to Axinn, W.G. and Pearce, L.D. (2009), primary data is real time and very sure about the source of
information. Though it is time consuming, the results obtained will be reliable and useful. There are numerous ways in
which a primary data for the research can be collected. Here I’m using self-administered Questionnaire to collect the
data, which will be the primary source of data. Using Questionnaire for data collection is faster and also has a greater
reach. Since the Internet and social media are playing a major role now, a digital form of the questionnaire will be set
up and will be made available for people to answer over the Internet, so as to make the reach as wide as possible. A
stall will be put up with the logo and the brand name, and freebees will be given to people who will take up the
questionnaire. This is done to cover the population who has no access to Internet and social media. Also personally
meeting clients and getting the survey done will be one of the options. It’s more time consuming and requires higher
cost. But the information obtained will be very much useful and effective.
Secondary Data

The secondary data are facts and Figure s already completed by other researchers and recorded in the form of articles
or books. The data from secondary sources are easy to obtain and requires lesser cost compared to the primary data.
These data can be collected from the research of other DIY companies survey, databases, Internet search engines etc.

88


They are mostly past data and using them for a dynamic market may be misleading. SO care must be taken on
processing the information. These data obtained can be compared with the real time primary data and can be used for
comparative purposes. The might also be used to completing the primary data. (Axinn and Pearce, 2009)
3.7 Ethical Issues
Utmost care has been taken by the researcher to convey all the relevant details about the research that is required to be
known by the respondents. The respondents will be informed about whom will access their answers and also that the
questionnaire is optional and who doesn’t want to involve themselves can avoid them.
Ethical issues will be avoided and the reason for the survey will be only to use for the research project undertaken and
nothing else. The answers to the questionnaire will not be leaked to other researchers or shared with any other person
except the researcher himself. Their identity will also not be disclosed to endorse any facts. If needed their identity
will be disclosed only with the permission from the respondent and only if he/she gives a no objection. Every one who
is approached to take the survey has the right to not take it and is completely voluntary. All the information’s, theories
and statistics referred from journals, articles, websites, books etc. are properly cited with Harvard referencing and no
one’s work is copied or replicated. (Miller, Cross, and Hollowell, 2006)

A4 Will the project involve deceptive or covert research? No
A5 If yes, give a rationale for the use of deceptive or covert research
Not Applicable

B PREVIOUS EXPERIENCE
B1 What previous experience of research involving human participants relevant to this project do you
have?
None
B2 Student project only
What previous experience of research involving human participants relevant to this project does your
supervisor have?
My supervisor has undertaken research projects that included both quantitative and qualitative methods.

C POTENTIAL RISKS
C1 What potential risks do you foresee?
None
C2 How will you deal with the potential risks?
Not Applicable

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ii Questionnaire
03/01/17, 5)32 PMA business development proposal to set up a DIY hardware store in Salem, India.
Page 1 of 6https://docs.google.com/forms/d/1ROkyRtFOtpsPfIawCAafOjt92m0qi-MyRvkzC_Ikzm8/printform
A business development proposal to set up a DIY
hardware store in Salem, India.
Hello,
I am a final year MBA student at Cardiff Metropolitan University and I am carrying out this
research as part of my final project. This research aims to study the impact of business
operations, human resources, marketing and finance on the food truck business. Your contribution
to this survey will be beneficial in learning the impact of these four factors on the business. Please
be assured that your responses will be kept confidential and will only be used for research
purposes.
*Required
1. I confirm that I have read and understood the information sheet for this study. I have
had the opportunity to consider the information, ask questions and have had these
answered satisfactorily. *
Mark only one oval.
Yes
2. My participation in this survey is voluntary and I am free to withdraw at any time,
without any reason. *
Mark only one oval.
Yes
3. I agree to take part in this survey. *
Mark only one oval.
Yes
Section 1 - Demographics
Mr. FIX IT - THE DIY HARDWARE STORE

90

4. Please state your gender. *
Mark only one oval.
Male
Female
Other
5. What is your age group? *
Mark only one oval.
18-20
21-30
31-40
41-50
50 and above
6. What is your employment status? *
Mark only one oval.
Student
Employed
Unemployed
Self- Employed
Retired
7. What is your monthly income? *
Mark only one oval.
Below INR 10,000
INR 10,000 - INR 29,999
INR 30,000 - INR 49,999
INR 50,000 and above
8. How much do you spend on Fixing Household items per month? *
Mark only one oval.
Below INR 100
INR 100 - INR 299
INR 300 - INR 499
INR 500 and above

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9. Do you Fix household hardware & furnitures ?
Mark only one oval.
Yes
No
At Times
Section 2 - Business Process
Please tick one .
10. I prefer the purchase to be as quick as possible.
Mark only one oval.
1 2 3 4 5
Strongly Disagree Strongly Agree
11. It is always better to mention the manufacture date on the products to make the
product more reliable.
Mark only one oval.
1 2 3 4 5
12. I would like to know/see how the products are manufactured.
Mark only one oval.
1 2 3 4 5
13. Take measures to reduce energy consumption and recycling procedures.
Mark only one oval.
1 2 3 4 5
14. Use of raw materials from overseas is attractive for the business.
Mark only one oval.
1 2 3 4 5

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Section 3 - Human Resources
15. In Store staffs should be friendly and welcoming.
Mark only one oval.
1 2 3 4 5
16. The Staffs should be knowledgeable about the products and services offered.
Mark only one oval.
1 2 3 4 5
17. The sales and service team should have a good command over english and the local
dialect.
Mark only one oval.
1 2 3 4 5
18. The employees should not keep the customers waiting for long.
Mark only one oval.
1 2 3 4 5
19. The employees should be aware of the profit and loss that the company faces.
Mark only one oval.
1 2 3 4 5
Section 4 - Marketing
20. I do research (check ratings, customer feedback, etc) about the store on social media
before trying out the place.
Mark only one oval.
1 2 3 4 5

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21. Offers and promotions play an important role when I'm choosing a place to buy.
Mark only one oval.
1 2 3 4 5
22. New or different type of products is definitely an attraction.
Mark only one oval.
1 2 3 4 5
23. Price is another factor that I consider before making a purchase.
Mark only one oval.
1 2 3 4 5
24. I Wouldn't mind driving long to see a new store with new innovative products.
Mark only one oval.
1 2 3 4 5
Section 5 - Finance
25. Proper financial strategy is necessary to run a business effectively
Mark only one oval.
1 2 3 4 5
26. Bank loan is one of the best option for start-up businesses.
Mark only one oval.
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27. Businesses will surely succeed if there is enough investment to maintain the quality of
products.
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28. It is better for owners to fund their own business before seeking external funds.
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29. Indian government/ NGOs offer a lot of financial support to young entrepreneurs.
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