Assessment 5. Business plan

Business plan

1.0 Executive summary

King of Hearts

King of heart is a social organization that protects and promotes the rights, awareness and welfare of the blind people. It focuses on developing leadership qualities among the blind people, provides free education and extraordinary facilities to enjoy their life. Thus, this organization develops an extraordinary environment for blind people so that they don’t feel lonely and feels safe and happy all the time.

King of hearts has kept its maximum effort in promoting its idea to blind people through awareness campaigns where there is the maximum participation of youth volunteers. The main competitors are coming up with new ideas that are technologically advanced like the white cane and eye stick that allows the blind people to walk in busy roads safely. But these products are more expensive than having guide dogs and are not user friendly.

Though, there have been much advancement in technology and technological devices are emerging out in the market, the guide dogs are more reliable and socially friendly, safe and a good companion to keep, dogs are the man’s best friend whether the person is blind or not.

2.0 Company:

King of Hearts is a social organization which provides special care and service for blind people. With over 2000 general members in 12 branches in different districts, it is one of the social organizations encouraging and supporting the rights and well-being of the blind as well as sheltering them. King of Hearts is dedicated to ensure the rights of visually impaired persons "right to sight". The company aims to give maximum facility to the blind people so that they can enjoy their life like a normal person.

3.0 Service Description

The innovative idea that King of Hearts is coming up is a guide dog for each and every blind people. In particular, a dog that is simply trained to act as a guide to support the mobility of the blind people, to give companion and help the blind people in getting directions and safety.

This potential service of dogs providing as a guide or more of a companion helps a blind individual to go beyond just mobility as the bond of trust and care with a dog of is always the most important aspect for an individual who is not given much priority by the society. Here, the dog is trained to lead the blind, obey their command and keep away from trouble acting like a principal member of a family. Consequently, the blind individual is responsible for directing the way by keeping a mental map showing teamwork and convenience with the guide dog.

4.0 Market Strategy and Plan.

Promoting a service is much harder than showcasing an item as it is not unmistakable. As a service has the proficiency to destroy the status of the association, the best possible showcasing of the service has fundamental impact and it ought to be ideal for the long-run of the association.

 

4.1 Environmental Analysis:

SWOT Analysis

Strength:

-          Well-built infrastructure for blind people.

-          Strong government and international support.

-          High quality of service in terms of food, education and accommodation.

-          Specially trained dog for each blind people that acts as a guide in their life.

-          High rate of employment to the blind people with a good working environment in a renowned company.

-          Transportation facilities are provided to visit their families and friends.

Weaknesses:

-          Lack of donations, from local residents.

-          Lack of health posts and health awareness programs that lead some people to blindness.

-          Lack of proper systematic education in the country, and low literacy rate.

-          Unmanaged and narrow footpaths in the country which makes blind people uncomfortable to walk with their guide dogs.

-          Unmanaged city with harmful domestic animals roaming freely around the city.

Opportunities:

-          Guide dogs may become the next generation of cane for blind people.

-          As dogs are popular and loved everywhere the guide dogs can help blind people reach their destination more safely.

-          As dogs can obey the tasks we give it can be more practical than the cane.

-          Instead of getting directions with the help of cane, now the blind people can ask their dogs to take them to their destination.

Threats:

-          The freely roaming dogs might have some communicable disease which might transfer to the guide dogs and may even affect the blind people.

-          Lack of proper training of guide dogs may create a huge problem as the blind people will be fully dependent on it.

-          The advancement in technology has come up with a device designed for blinds known as eye stick that allows the blinds to walk their destination without any danger for traffic roads and stairs.

-          Some other competitors have come up with a device called white cane which is similar to the previous one the eye stick

 

4.2 Competitive analysis:

Competitive comparison

Competitive threats come from Nepal association of blinds and Nepal Integrated Blind Development Association (NIBDA). These social organizations are also good in serving blinds and provide better facilities for them. They are scattered throughout Nepal.

Competitive edge

The King of Hearts’ competitive advantages is the unique idea made exclusively for blind people. The idea is providing a well-trained guide dog that acts as a guide as well as companion for the blinds. The king of hearts also provides better facilities to them which result in better living standard. King of hearts gives maximum facility and a good life standard to the blinds because; we believe that blind people have their eyes on their heart so we make them see through it.

 

4.3 Services

The services that king of hearts is providing to blind people are extraordinary. No other organizations can match the standards of services we provide. We take care of blind people as our own family members. We provide free education for them. We provide vocational training Computer skill assessment to make them perfect for any job. And the most important service that we provide is a guide dog for each blind person.

4.4 Pricing

Here the expenses that require for the advancement would be training the dog by the veterinary or the dog trainees that would cost the organization about Rs.8000 to Rs. 12000 as per the need and the style of training for each guide dog. The other costs include the daily food required for the dogs.

 

4.5 Promotion

Since it’s a social organization the awareness programs helps a lot to promote the service of a guide dog. Even the usefulness of a guide dog itself attracts many blind people through word of mouth and awareness of the product.

4.6 Place

 

This service can be available at certain distance from the destination point. As it is not practical to take a guide dog for long distances, this service is only used in a day to day basis where a blind people take its guide dog to certain place near the residence and return following the same route.

4.7 Process

The way of giving guide dogs to blinds are very easy. As it is a necessity for each and every blind person we will be giving one guide dogs for each blind person. First the dog is trained to do the tasks that the blind person command like showing directions, walking on footpath and zebra crossings and stopping in traffic lights as well. After the complete training the dog is handed over to them.

4.8 People

This service is particularly provided to blind people to make their daily lives easier. As we know that, blind people face many problem while walking, in traffic jams and busy roads, guide dogs makes their march simpler, safe and fun.

4.9Physical evidence:

In UK 4700 people are using guide dogs to travel to their short destinations. But we are the first to come up with this idea in Nepal. A company called the kennel club provides special training required for the guide dog which changes the lives of blind people.

5.0 Operations

King of hearts is well established in 12 districts including Kathmandu, Bhaktapur and Lalitpur. Its main headquarter is located in New Road in the heart of Kathmandu. Its 12 branches are located in 3 regions eastern central and western and are looking forward to establish in mid-western and far western region. The service provided by king of hearts is unlimited; with over 2000 plus staffs and youth volunteers it serves blind people all 365 days of a year.

6.0 Financial analysis and projections:

RECEIPTS AND PAYMENTS ACCOUNT OF KING OF HEARTS ENDED ON 31^ST DEC 2013

INCOME AND EXPENDITURE ACCOUNT OF KING OF HEART ENDED ON 31^ST DEC 2013

EXPENDITURES	AMOUNT	INCOME	AMOUNT
Building rent expense	$5,000	Subscription	$25,000
Grounds man wage	$3,000	Entrance fee	$7,000
Printing and stationery expenses	$1,000	Donations	$5,000
Depreciation on building	$2,000	Net income from canteen trading	$6,000
Depreciation on equipment	$1,000	Tournament fees and charges	$5,000
Salaries	$5,000	Interest income on deposits	$2,000
Traveling expenses	$1,000	Profit on investments	$1,000
Tournament general expenses	$1,000	Sundry income	$2,000
Tournament prizes	$7,000	Profit on sale of fixed assets	$7,000
Brochure expenses	$1,000	Rent income	$3,000
Depreciation on furniture	$2,000	Profit Sale of instruction manuals	$1,000
Interest on bank loan	$1,000	Green fees	$3,000
Canteen miscellaneous expenses	$1,000
Heat and light expenses	$2,000
Telephone expenses	$1,000
Upkeep of play ground	$3,000
Meeting expenses	$1,000
Honorarium	$2,000
Surplus	27,000
TOTAL	$67,000	TOTAL	$67,000

KING OF HEARTS

BALANCE SHEET

AS ON 31^ST DEC 2013

ASSETS	AMOUNT		LIABILITIES	AMOUNT
Cash in hand		10000	Accumulated fund	50000
Cash at bank		15000	Opening accumulated fund	20000
Subscriptions receivable		25000	Add: Surplus for the year		70000
Bar Stock		2000	Closing accumulated fund
Prepaid rent expenses		1000	Short term liabilities
Intangible Assets			Subscriptions in advance		10000
Goodwill	10000		Creditors		5000
Less: Acc. Amortization	5000	5000	Interest expenses payable		2000
Fixed Assets			Building rend payable		5000
Land		20000	Long term liabilities
Building	15000		Bank loan		7000
Less: Acc. depreciation	10000	5000	Mortgage loan		10000
Cars and other vehicles	20000
Less: Acc. depreciation	10000	10000
Sports equipment	5000
Less: Acc. depreciation	2000	3000
Long term investments
Investment in mutual fund		5000
investment in Govt. securities		8000
TOTAL		109000	TOTAL		109000

7.0 Risk and assumptions:

The main risk using guide dog as the main guide for the blinds instead of cane is that, many people in the country are not aware of the special skills that a dog can have. The other problem is that, there are many street dogs roaming around in the city which may have serious communicable disease and the guide dogs might suffer from their attack or their disease.

So, if the city is free of street dogs and the people are aware of the abilities of the dog then this idea may work all over the country and the guide dogs may become the blind people’s next cane.

8.0 References

-          accounting . (2012). accounting explanation. Available: http://www.accounting-world.com/2013/01/accounts-of-non-profit-organizations_26.html. Last accessed 5th may 2014.

-          tim berry. (2014). a standard business plan outline. Available: http://articles.bplans.com/A-Standard-Business-Plan-Outline/. Last accessed 5th may 2014.

-          guide dogs. (2014). guide dog services. Available: http://www.guidedogs.org.uk/services/guide-dog-services#.U2yZifmSx_D. Last accessed 5th may 2014.