Business Plan Part-01

Course: MGT368
Section: 07
Semester: Fall 2021
Submitted To:
Mohammad Asif Gazi
Department of Management
Group Details:

1911785630 Nazeeb Faiaz

1912699030 Nurunnahar
Group 4 1911608630 Himi Maria

1912883030 Hafiza Shara Sumaiya

1911228630 Safwan Al Amir Srabon

Submission Date: 20 December, 2021

 Table of Contents
1. Introduction .............................................................................................................................................. 1
Name and Address of the Business: ......................................................................................................... 1
Name(s) and Address(s) of the Principal(s): ............................................................................................. 1
Nature of the Business (Industry): ............................................................................................................ 2
Statement of the Financing Needed (Investor): ....................................................................................... 2
Statement of Confidentiality off Report: .................................................................................................. 3
2. Evidence of a Strong Team, With Relevant Skills/Experience .................................................................. 3
Personal Reason to Think About This Venture: ........................................................................................ 3
Skills That Can Contribute In Our Venture: ............................................................................................... 4
3. Evidence of a Problem worth Solving ....................................................................................................... 5
Commercial Viability of the Bloom Patch: ................................................................................................ 5
The Addressed Market Gap: ..................................................................................................................... 6
Justification of Researched Data:.............................................................................................................. 6
4. Business Environment Analysis ................................................................................................................. 9
PESTEL Analysis ......................................................................................................................................... 9
Porter’s Five Forces ................................................................................................................................. 12
SWOT Analysis......................................................................................................................................... 14
Stake Holder Analysis .............................................................................................................................. 16
Competitor Analysis ................................................................................................................................ 17
5. Business Model ....................................................................................................................................... 20
Business Model Canvas: .......................................................................................................................... 20
Pricing: .................................................................................................................................................... 22
Social Goal:.............................................................................................................................................. 23
Sustainability: .......................................................................................................................................... 23
Eco-friendly: ............................................................................................................................................ 24
Ethical:..................................................................................................................................................... 24
6. Description of Venture ............................................................................................................................ 25
Mission: ................................................................................................................................................... 25
Vision:...................................................................................................................................................... 25
Product and Service: ............................................................................................................................... 26
Patent, Trade secrets, Product Safety and Liability, Insurance: ............................................................. 27
Reasons behind future success of “The Bloom Patch”: .......................................................................... 28
 Development works completed to date: ................................................................................................ 29
Size of “The Bloom Patch”: ..................................................................................................................... 30
Location of “The Bloom Patch”: .............................................................................................................. 31
Reasons for choosing Bashundhara as the location for office:............................................................... 32
Office Equipment and personnel: ........................................................................................................... 32
Present and Required Experience needed to successfully implement the business plan: .................... 33
References .................................................................................................................................................. 35
Appendix ..................................................................................................................................................... 36
 1. Introduction

Name and Address of the Business:

The name of our business startup is “The Bloom Patch”.

We have selected Bashundhara Residential Area as our office place. It’s a good environment to
work in. Our flower warehouse that will rent will also be in Bashundhara Residential Area.

Address of Our Office: House No: 97, Block-D, Bashundhara R/A

Address of Our Warehouse: House No: 52, Block-D Bashundhara R/A

Name(s) and Address(s) of the Principal(s):

The five partners of our business are the principals of our business. We will be doing all the
management processes of the venture.

Name Address
Nazeeb Faiaz 605/C, Khilgaon, Dhaka-1219
Hafiza Shara Sumaiya BUET Quarter, Dhaka-1000
Safwan Al Amir Srabon 12/6 Hazi Market, ECB Chottor, Dhaka 1206
Himi Maria Mohannadi Homes LTD, Mohammadpur – 1207
Nurunnahar Mirpur 02, Dhaka-1216

1|Page
Nature of the Business (Industry):
The nature of our business is that we will offer both in house farmed flowers and outsourced
flowers to our customer. The process is fully online we will use our own mobile app and social
media network to operate the business. As we know people of our country has somehow adapted
to the online shopping structure so, this edition from us in flower industry will give customers the
option to buy in house farmed flowers.

Based on the market we will only farm flowers which are rare farmed in Bangladesh and the market
supply is also low. Like we will farm Daisy, Orchid, Black and Blue Rose, Sephora. And for other
flowers which are widely available in our country like Belli, Red Rose, Carnation etc. we will
outsource them from actual local flower vendors so that we can give the most authentic flowers to
our customers. The flower delivery will also be conducted by us as flowers are sensitive products.
Our packaging will be a highlight for our customer as they will get the safest delivery.

Statement of the Financing Needed (Investor):

The financial funds that we need to start our venture is the most crucial factor in our venture. As
we are starting with a new idea in the flower industry. The costs are given yearly:

The fixed costs are:

Warehouse Cost= 1Lac

Delivery Cost = 2lac

Farming Cost= 5Lac 20 Thousand

App Development Cost: 1 Lac

These are the total estimated fixed cost that we will have to bear. Our office rent is not there
because we have our partners flat. The land cost is not there because we have a partner property
as a land. These financial costs are going to rise in future for the growth stage

2|Page
Statement of Confidentiality off Report:
The report is made by us on the basis of our new venture and business idea. The report that we
have made will only be used for academic purposes. Any unlawful negligence or release of this
confidential information is considered a breach of the responsibility to keep it confidential. This
text may not be distributed, published, or reproduced in any way.

2. Evidence of a Strong Team, With Relevant Skills/Experience

Personal Reason to Think About This Venture:

There are some strong reasons to think about this venture. As we know Bangladesh is one of the
most densely populated country. Roaming around the country by vehicle is one of the most
challenging parts of living here because traffic jam is all over the country. When we talk about
buying flowers only one place comes to our mind and that is Shahbag. And traffic jam makes it
very difficult to go there and buy flowers. So, this was the main reason why we wanted to start the
venture because we wanted to give people the option to stay in their home and buy flowers online.

Another reason will be that since COVID is still there and besides the lockdown being called off
and people are getting vaccinated, there are chances of outbreak so, people should have the option
to buy flowers online. A major reason is also that this kind of venture is not common in our country
so based on the research we can say that we can get a first mover advantage.

If we consider buying flowers from markets we can say the people don’t get the variety options
that matches their preferences. There are a lot of people who search their desired flowers and don’t
get it. As Bangladesh is a country were festivals are one of the most common things to see, these
festivals and functions are very dull without flower decorations. Especially as Bangladesh has huge
population marriages happening in a high rate is a common factor. And these marriages will not
happen without flower decorations so, we thought that besides selling flowers online we will also
provide flower decoration for personal and also corporate functions. So, these are the reasons why
we chose this venture and we believe we can provide the best customer experience by fulfilling
their desired needs.

3|Page
Skills That Can Contribute In Our Venture:
Our venture has total five partners. Each partner has different skills that contribute to our venture
in all the positive ways. There are some similar skills among partners which is also needed of the
proper cohesion in the venture. Firstly if we talk about our partner Ms. Hafiza Sara Sumaiya, she
has the skill to properly analyze the data for different aspects. Her researching skill and data
analyzing will help use properly select out targeted consumers and have a proper idea about the
market we are into. Then Ms. Himi Maria is a flower lover herself and she knows about flowers
which will help us finding the proper flowers for the consumer because she as a customer can give
us the suggestions we need to run the venture properly. After her comes Ms. Nurunnahar who is
already an entrepreneur. She runs a clothing business with her friend and with this she has the skill
on how to operate a venture, how to deal with the consumers and customer analysis. Then our
partner Mr. Safwan Al Amir Srabon works for a foreign company where he makes sales calls to
the targeted customers. So, he has the skill to promote a venture and make sales through marketing
activities. Lastly Mr. Nazeeb Faiaz has the experience of doing business since last year he started
a clothing business with his friends where he operated all the media buying and digital marketing
activities. So, he has the skill to do digital marketing and also he can design promotions, ads and
logo for the venture. Also Ms. Hafiza and Ms. Himi both have financial skills and they will be
taking care for the financial activities of our venture.

Thus we combing the skills we can make the venture successful. Apart from the unique skills we
will contribute to the venture with our hard work, determination, cohesion, precision and
enthusiasm. We all are optimistic person and that is why we wanted to start this venture because
we found a certain market gap and thought of giving people benefits with our unique selling
proposition and also value propositions.

4|Page
 3. Evidence of a Problem worth Solving
Commercial Viability of the Bloom Patch:
Nowadays, flowers have become not only an important part of Bangladesh’s economy and also as
an agricultural product, the demand for flowers has been rising in our country over the years which
made floriculture a potential sector. From bigger to small in any kind of event, people now buy
flowers. It can be as a decor material or a present but flowers are a must item. From wedding to
small farewell party of any school, flowers are needed. Dhaka Chamber of Commerce and Industry
(DCCI) published a statistics recently where it was said that the local market of flowers and cut
foliage has reached TK1,600 crore per annum and it is also growing by 10 percent every year. (The
Business Standard , 2020) Export Promotion Bureau (EPB) revealed that the country's export
earnings from cut flower and foliage for the July to January period of the fiscal year 2018-19
touched $3.98 million, which was $0.02 million in the 2017-18 fiscal year. We can see how much
potential opportunities there are in this sector.

There are many shop for original flower overall Bangladesh but not enough. In Bangladesh, the
only proper flower market is in Shahbag where one can find many varieties in flowers but people
who live very far from Shahbag like Uttara, Jatrabari, Gabtoli can’t easily come to this place for
their any kind of event. Moreover, we don’t have proper flower market in big cities of Bangladesh
where local people will find the flower that they need. People have to go through lots of trouble to
find perfect collection of flowers on their big days and even if they find any flower shop, most of
the time they do not get that much variety. So they have to unwillingly shift to available flowers
like Rose, Marigold. But here, we will be offering lots of varieties in flowers. People will also get
the opportunity to customize their bouquet based on their preference with different kind of flowers.
The most important fact is people will not have to search all over Bangladesh to buy flowers
anymore. They will get to buy flower online like any other online shopping. We are bringing the
whole flower market in one place and we will be just one click away. We have no direct
competitors in this field as none is offering this type of service in Bangladesh. So the service of
The Bloom Patch is going to be very viable commercially catching a large customer base.

5|Page
The Addressed Market Gap:
Our closest substitutes are any flower shops and Shahbag flower market and JMC florist but from
our research we get to know that, these are not convenient and costly for most of the people. As
we mentioned earlier, there is no proper shop nearby to buy flowers for them. People from all over
Dhaka have to come to all the way to Shahbag to buy flowers but the quality is not good. Most of
the flowers don’t look fresh. After buying flowers, by the time people go back to home most of
the flowers get damaged either slightly or heavily. That’s the market gap we are addressing. We
will provide that convenience in cheaper place with superior quality. That’s the main difference
between the bloom patch and any other flower store. People will not have to take any extra stress
to buy flower or any flower made accessories.

People will order flowers, bouquets, and flower accessories online through our app, Facebook and
Instagram page. And then everything will be delivered safely at their doorsteps. People will no
longer have to go through the trouble of thinking from where we will buy good quality flowers
and how we will take them home. After identifying market gap and analyzing our closes
competitors, we have planned to offer this service. Our flowers, bouquets, accessories made of
flowers will be affordable and convenient for everyone.

Justification of Researched Data:

We have done some online research and also read many articles about floriculture. We also went
to Shahbag flower market which is the biggest flower market in our country to analyze our
competitors (Video is attached in the appendix) W also talked with people around us to know if
they were satisfied with their current way of buying flowers. When we told them our proposed
idea, the feedback was overwhelming.

When we told people who often buy flowers, they have appreciated it very much. Now, people
want to keep the touch of flowers in every function to make it special but flower shopping is always
frustrating for them. So when they heard the idea of buying flowers and flower made items without
any hassle, they were very much intrigued.

The screenshots are attached below:

6|Page
7|Page
We also did a survey on 40 people who are 20-30 years old. Survey result is described below:

As we can see, 87.5% people agreed that they go through lots of trouble to buy real fresh flowers
because they don’t have any nearby flower store. If they find any store, they don’t get various
types of flowers and the quality is also cheap.

92.5% people want to buy flowers online as it will be much easier and convenient. People now
prefer online shopping more than ever because of ease. So, they will love to buy flowers online
without facing any kind of trouble sitting at home comfortably.

8|Page
 4. Business Environment Analysis
Asian culture has always been attached to floriculture and Bangladesh is also huge market for this.
The flower industry of Bangladesh has grown significantly over the years as the economy of our
country got better gradually. The local flower market of Bangladesh is now worth approximately
1600crore as per a report from The Business Standard.

The business environment as we can see is very much favorable for our idea if we consider the
economic aspects of the market. People of our country are investing more and more on farming
flowers. So, these are positive environmental aspects for our business environment too. Now let’s
analyze our business environment with four different analysis which are PESTEL, Porter’s Five
Forces, Stake Holders Analysis and Industry Analysis.

PESTEL Analysis
 Political: The political structure of Bangladesh effects in different ways to the industry
environment. Since our honorable Prime Minister has declared the digital Bangladesh
structure since then entrepreneurship culture has risen significantly. Recently ICT Minister
of Bangladesh has given the proper support to youth entrepreneurs around the country. The
ICT department has invested on 1000 startups which was confirmed by the ICT Minister.
(Islam, 2020).
The Covid-19 pandemic has somehow shaken the political structure and our government
is realizing the value of online business which can give a huge boost to the economy and
contribute towards the digitalization of our country. Besides that the government of
Bangladesh has somehow indirectly made a huge growth in the flower industry when they
made the rule that Victory Day, International Mother Language Day and Independence
Day celebration is mandatory for educational institutions, public organizations and etc. So,
as we know flowers are needed for these occasions, the growth gradually increased and
helped many people to build a career in this industry.

 Economic: Bangladesh is now a developing country and the economic growth has
significantly shown that the GDP has also increased. As a result the flower industry got a
major step up, right now there are 15lakh to 20lakh people who are florist and running their

9|Page
 families soundly. (Mim, Floriculture: A lucrative sector in Bangladesh, 2020) Because the
flower industry worth increased now to 1500crores by which we can tell people are heavily
interested to farm flowers.
If we consider the export industry Bangladesh has exported flower roots of 86000 dollars
in the fiscal year of 2016-2017. (Ibrahim Hossain Ovi, 2018) Thus we can see that how
much foreign currency is coming from the flower industry and its shows how the business
economic environment is very well suited for the entrepreneurs. The economic
development may have been shaken by the COVID-19 pandemic but still its recovering in
a very good rate and the chances of profitable environment in the flower industry is a very
predictable prospect for us.

 Social: The social environment of our country truly supports the business industry. A major
reason for this is that Asian countries have vast cultural existence throughout the
colonialization. In our country especially in Bengali culture festivals, occasions are
celebrate all around. Since we have a huge cultural value towards the festivals and
occasions we craft them with flowers.
The people of our country and the society are welcoming festival with flowers since the
very beginning. If we talk about the most celebrated festival of Bangladesh that will be
Pohela Boishakh and women specially celebrate this festival with flowers in their hands
and in their hair. Another western festival or day which is now widely celebrated in
Bangladesh is the Valentine’s Day. “200 crore are sold in the district every year while the
farmers have sold flowers worth Taka 8 crore this time ahead of the two festivals” (Daily

10 | P a g e
 Asian Age, 2016) As we can see before the pandemic the sales were sky high during these
festivals and as the situation of COVID is getting better and lockdowns are called off the
cultural festivals and other festivals will be around in our social environment which will
positively reflect onto the business environment.

 Technological: The technological advancements have created digitalized society in our

country. Few years back technology was steady but now with updated and upgraded
technology the business environment in our country has totally revolutionized. A very
prominent example is the social media use increase in our country which created the vast
popularity of F-Commerce in Bangladesh. The Facebook user count in Bangladesh is
approximately 39 million and the F-commerce market worth is 312 crore. (Tanni, 2021)
The internet users have increased massively in the past few years due to enabling 4G and
other technologies. “The e-commerce sector in Bangladesh has experienced an
approximate 100 per cent growth in 2016 -19, according to the E-Commerce
Association of Bangladesh (e-CAB)”. (Zubayer, 2021) by The Financial
Express. Thus these statistics shows how technology is improving the business
environment day by day and for the flower industry it will be a massive step
forward as our venture is online based with the help of new t echnologies.

 Environmental: The environmental situation in Bangladesh is not so well because we

know Bangladesh is a densely populated country and that is why pollution is increasing
which are not environment friendly.

11 | P a g e
 A big reason why flower industry is well established in Bangladesh because the
environmental factors of weather and other things favor the flower farming and that is why
in our fields flowers are well grown. The natural calamities effect the business environment
very heavily because florists cannot contain the storage due the lack of advance
machineries. “The soil and climate of Bangladesh is quite suitable for floriculture. Many
exotic flowers can be grown in our country as the climate is tropical.” (Mim, Floriculture:
A lucrative sector in Bangladesh, 2020) So, these show the environmental benefits that our
country has which reflects to the growth of flower industry, but natural calamities and
pandemic has made difficult situations for florists of Bangladesh.

 Legal: The law of Bangladesh for businesses have had issues throughout many years. The
tax rates have increased over the years drastically which impacts the new business in a
negative way because then the business have to increase the product and service price
eventually. “Amidst the growing popularity of online shopping, a 7.5% VAT has been
imposed to help the government meet its revenue targets. Last year, a 5% VAT was
imposed on e-commerce.” (LightCastle Analytics Wing, 2019) So, we can see the legal
structure changes every year for businesses. For law in terms of trademarks and patents the
structure is similar to other countries. The patent law of Bangladesh lasts for 16 years and
trademarks last for 7-10 years, so, these legal factors will impact both positively and
negatively to the business environment for our venture.

Porter’s Five Forces

 Threat of New Entrants:
The venture of ours directly comes from the flower industry of Bangladesh. The offline
flower industry as we recall it is at a much higher scale than before and the market value
has increased significantly. For this people have recognized the market with a view of
online business because due to the pandemic the customer base of Bangladesh has
somewhat adapted to the e-commerce culture. As, we properly don’t have the first mover
advantage in our business because some firms are doing it two with their own business

12 | P a g e
 models but these are threats to use because without the proper first mover advantage,
capturing markets would be a bit difficult.
Another factor is that as we are new entrants the customer viewpoint will not be
favorable for us totally. Then last important aspect of threat for us is that the suppliers
would play a major role in our business and as we are new entrants we will face challenges
selecting the suppliers who will do an efficient and ethical business with us in the long
run.

 Bargaining Power of Suppliers:

Bargaining power of suppliers for our business is moderately high a sole reason for this is
that the flower industry is totally based on how suppliers will send the flowers to us. The
suppliers can increase the price of flowers when there are natural calamities happening
and there is a shortage of flower farming. Then in this pandemic the transportation cost
has increased and suppliers can then increase the price of flowers. So, these are the
bargaining power factors for us in terms of our suppliers.

 Bargaining Power of Buyers:

Bargaining power of buyers for our business is moderately low. The reason is that we will
be running a totally online exclusive business where consumer will buy their favorite
flowers, flower items and flower decoration for them. As we are in a venture our prices
will be fixed for each products and the concept of online flower delivery service is
relatively new so the customer attraction will be high. Corporate office, wedding planners
and event management companies are also our buyer so in this the bargaining power for
buyers will be low as the customer segment is broad in terms of our service.

 Threat of Substitute Products:

The threat of substitute products or services for the product and service we will provide
is low. A very big reason for this is there are not many products which can replace flowers
and a very big reason for this is festivals and occasions are dull without flowers. Flower

13 | P a g e
 carry a very intrinsic value to the consumer who is purchasing so the substitute service or
product is not there for the consumer. If we consider replica flowers which are made of
plastics those are not fully substitute and don’t have much value because authentic
flowers have their own essence and people now a days are more eco-friendly than before
they always consider organic products more. In this way we can see that there are not
much threat for substitute products.

 Rivalry among Existing Competitors:

The rivalry among existing competitors are there in the flower industry. As we will be
operating in two different customer segment we can see that in both markets there are
rivalries. If we consider the offline flower market the rivalry is there based on how they
can attract the consumers with better pricing. Another segment is the corporate and
event management section were there flower vendors and decoration teams that have
rivalries among themselves on how they can give the better flower decoration to their
clients with innovative design of decoration. By analyzing these we can see that rivalry is
present among existing competitors.

SWOT Analysis

14 | P a g e
Strength:

 "Bloom Patch" is a new invention that is a one-of-a-kind online flower delivery enterprise
among all the alternatives now available in Bangladesh.
 Our flowers will be fresh so that they will provide a vibrant flair to any gathering.
 One of our primary benefits is that clients will be able to place orders while relaxing at
home.
 “Bloom Patch” will not only ensure quality but also make customers' life less stressful at
any event.

Weakness:

 Our product is very affordable when compared to in-person flower purchasing and travel
expenditures, but as a first mover, establishing brand quality among clients may take some
time.
 We can’t predict how bad the traffic jam can be in Dhaka. So we have to plan ahead and
always have to ready Plan B to ensure delivery on time.

Opportunities:

 People nowadays are extremely reliant on online buying or purchasing, making it easy to
fill this market vacuum by providing fresh flowers for any occasion.
 Customers are more concerned about their health during COVID, and they do not want to
jeopardize their lives. Because buying fresh flowers may be difficult and time-consuming.
 According to a study, people like homey gatherings with excellent décor, and it's tedious
to locate everything separately. As a result, "Bloom Patch" will take steps to capture
memories in a less stressful manner.

Threats:

15 | P a g e
  Bangladesh's economy has also suffered as a result of the COVID outbreak. Many families
have been driven below the poverty threshold due to rising unemployment. Consequently,
the client sector to whom flower delivery would serve has narrowed.
 Natural calamities may hamper our flower service, or flower farm suppliers may face
inconveniences that we can’t avoid.

Stake Holder Analysis

Investors:

The partners who are investing in "Bloom Patch" will be the ones who will endure the risk.
Investors are very interested in our business since they stand to lose the most money if the venture
fails. They will be in charge of the majority of organizational decisions, and they will operate in
the capacity of corporate executives. This provides the investors with a significant amount of
control over the success of "Bloom Patch."

Managers:

The management is concerned about "Bloom Patch's" well-being. They are accountable for the
organization's performance. Thus they have a strong interest and influence in how it is managed.

Workers:

The assembly line employees are completely responsible for the "Bloom Patch" on-time delivery
service. They are, however, unconcerned about the venture's success, and they have nothing to
lose since they can quickly shift jobs if the project plan fails.

Subcontractors:

The Subcontractor will create floral accessories and decors that will be assembled afterward by
'Bloom Patch.' They significantly impact the organization since the final product’s quality depends
on them. They are, however, not very much concerned about our performance since they will be
creating bid contracts with us.

Suppliers:

16 | P a g e
Suppliers are not concerned with the performance of their specific buyers. Because there are so
many vendors on the market, they have less clout because we can quickly switch providers.
However, vendors that offer us high-quality fresh flowers will have an influence on our company.

Government:

The government will have little interest in the group, but it will have considerable control over it.
Government regulations and policies, on the other hand, will have a significant impact on
performance and decision-making.

Competitor Analysis
FLORISTA, Dhaka Rosarium, PAPRII.COM, and JMC FLORIST are some of the online floral
shops that are the competitors of “Bloom Patch”. Because the online flower delivery service with
accessories and decors is a new kind of product to be supplied in the market, and because it will
be a first mover, it does not have any direct competitors. However, the local flower market is the
most convenient replacement, and as a result, it serves as indirect competition. Following are the
sales figures, as well as the strengths and weaknesses of each of the closest competitors:

Strength: Various flowers with unique cater designs.

Weakness: you have to order in their fixed time limit with no urgent delivery service.

17 | P a g e
Strength: Over 3 decades experience and have built trust in their customers

Weakness: High price (Starting from 1595 taka)

Strength: Cheap and fresh flowers.

Weakness: Limited delivery time with no customize accessories options.

18 | P a g e
Strength: Large flower collection with adding other gift options.

Weakness: They don’t cater for large events or decors and don’t have to customize floral
accessories options.

When we look at the market size from the previous section, we can see how the florist business is
expanding. People are increasingly drawn to online shopping, therefore we must guarantee that
our quality standards are met, that there are several alternatives to pick from, and that we provide
online delivery to beat our competitors.

19 | P a g e
 5. Business Model
Business Model Canvas:

Key Partners Key Activities Value Proposition Customer Customer

Relationships Segments
1. Flower suppliers 1. Flower farming 1. Fresh Flower 1. Instant Response 1. Mass market of
2. IT Company (For 2. Logistic Management 2. Online Flower 2. Special offers for Dhaka
App Development) 3. Local Marketing Delivery long term
2. Lower class to
3. Event 4. App and Social Media 3. Customized design customers.
upper class
Management Management for flower items 3. Refund/ new
people
Companies 5. Flower Delivery 4. Swift Delivery product for any
3. People
5. reasonable for damage during
(Specially Aged
delivery
everyone
20-40) who are
Key Resources Channels
going to get
married.
1. Lands for in house 1. Mobile App
farming. 2. Facebook
2. Flower farmers 3. Instagram
3. Flower protected
packaging

Cost Structure Revenue Streams

1. Farming Cost 1. Flower Selling

2. Marketing and Promotion 2. Customized bouquet

3. App Management Cost 3. Customized accessories made of flowers

4. Packaging Cost
5. Flower outsourcing cost

20 | P a g e
Key partners:
As we will outsource some different type of flowers so flower suppliers will be one of our key
partners. To develop and manage our app, we will go in partnership with app development
companies. As people hire different type of event management companies nowadays for any kind
of event from small too big and those companies needs flowers for decoration, so event
management companies like Eventco Bangladesh, IDEA Event Solution, Ananta Events and
Entertainment will be our retailers and through them we will get to reach the public.

Key activities:

As our business is online based, main activity is to manage app and social platforms. Farming
flowers in house and outsourcing some varieties and then delivering it to customers’ doorsteps
without even any slightest damage is also part of our key activities. As a new comer in the market,
we have to prioritize on our marketing as well.

Key resources:

For floriculture, suitable land to grow flowers is very important. So land is our most important key
resource and so are the farmers as they are the one who will do all the field work. As flowers and
any product made of flowers are very sensitive, we will provide special packaging according to
the variety and size which will keep the products safe. So this special flower protected packaging
also belongs in our key resources.

Value proposition:

The core benefit we are offering to the customers is fresh flowers in affordable price range for
everyone. We are making them free from going to trouble of finding perfect flower shop and taking
it home. They will just order online and we are going to deliver the product without any damage.
Our customized bouquet and flower made accessories are also adding values to the company.

Customer relationship:

Customer will get instant replies whenever they will try to contact us. Automated messages are
available to get back to them immediately. We will equally treat our both short term and long term

21 | P a g e
customer but will provide special offers for long term customers. If any type of damage happens
in flowers for us, we will provide 100% refund or new products.

Channels:

We will communicate with our customers through our app, Facebook and Instagram page. As our
service is online based and our segmented customers are available in online so we will focus on
online marketing to reach them and connect with them.

Customer Segments:

Our target is to catch the mass market from lower middle class to upper middle class and for that
we will be providing product of different price ranges. Our focus is certain aged people who are
going to get married soon as most of the flower and products made of flowers are mainly needed
in wedding programs starting from gaye holud program to reception.

Cost Structure:

Our vital cost is flower farming and delivering the products safely in flower protected packaging.
As we are providing app based service, there is an app for app development and management.
Besides significant amount of cost will be incurred for flower outsourcing and marketing.

Revenue Streams:

Our revenue completely depends on our sale. The more we can sell, the more our revenue will be.
We will be selling flowers, bouquets, customized accessories made of flower and all these will
bring revenue in the company.

Pricing:
We will follow both penetration and value-based pricing strategy. For initial 2 months, we are
going to follow penetration pricing to grab the attention of mass market. By penetration pricing,
we will be able to attract customers more and they will choose us over our competitors. Our
bouquet price will be started from 350tk and as we have our own delivery, so the delivery charge
will be only 50tk initially whereas the bouquet price in any conventional store is around 400tk.
Our closest competitor JMC florist’s bouquet price starts from 700tk. So our cheap price is going

22 | P a g e
to create a buzz in the market and we will be able shift the potential customers away from our
competitors to us.

Then, we will focus on value-based pricing. As customer’s satisfaction is our main priority so we
determine our price based on customers’ willingness to pay. We will have products for everyone
lower class to upper class. Our main goal is to make our business sustainable and only consumers
can keep us sustainable. So we determine our price based on customer’s perceived value also
considering our cost and quality.

Social Goal:
The Bloom Patch’s social goal is to make people's life easier in every way we can. Our virtual
customer service representatives can assist clients in locating the flowers that they desire using our
one-stop flower shopping program. We are sensitive to cultural differences. And the practice of
offering flowers as a sign of harmony is rather widespread among us. Purchasing fresh flowers, on
the other hand, is not as straightforward as it appears. It is our mission to provide the highest-
quality items in a variety of variations and categories, so that we can satisfy the needs of every
customer. We highly encourage our clients to design their own flower bouquets in order to ensure
that they receive the greatest quality flowers available for purchase. Our same-day flower delivery
service ensures that you receive the freshest blooms available. By offering flowers, we are
fulfilling not only people’s demand and also bringing joy and spreading happiness in the society.

Sustainability:
Being the first one to bring something like this in the market, we are going to get first mover
advantages and with time we will progress gradually. Only the customers can flourish our path of
sustaining in the long run, so we are doing everything possible for customers’ satisfaction. Their
positive word of mouth will help us to get new customers and it will also help us to grow and
sustain in the long run. Our service is budget friendly and it is very much convenient. No
conventional flower store is providing such service so don’t have any direct competitors. By the
time any competitors arrive in the market, we will an established company in the market so it will
be almost impossible for others to take our place. Now customers love to shop online mostly
because of ease. And as we are providing flowers made accessories or decor items as per

23 | P a g e
customers’ choice and preference, everything in one place, customers are going to love these and
all these have high demands nowadays. All these will ensure our sustainability.

Eco-friendly:
We will replace any single-use plastics with more environmentally friendly alternatives, such as
wrapping flowers in paper and tying cards with twine, where needed. When plastic is unavoidable,
we will make every effort to repurpose as much of the product as possible to reduce waste. In the
event that an item can no longer be used, we will make certain that it is appropriately recycled.
The implementation of a waste audit is a great means of identifying areas where our firm may
improve its environmental sustainability.It is a simple approach that may be used to ensure that
leftover flowers, plants, and even lunch scraps disintegrate and breakdown into nutrient-rich soil.
Minimizing waste is one of our main priorities and we will convert wastages and leftovers of
flowers into fertilizers by processing. Our service will be eco-friendly in every possible way.

Ethical:
The Bloom Patch is very much conscious about following ethical codes. In our business, we will
strictly obey the government’s rule and regulations. Before starting the business, all type of legal
paperwork will be done properly. There is no slack in paying taxes. Everything will payed in time.
To ensure customer’s satisfaction and safety, we will provide chemical free best quality product
maintaining international standard. Besides, no discrimination will be occurred in your business.
Everyone will get the opportunity to work with use if they are qualified. In customer segmentation,
there is no upper class or lower class, all customer will be treated with respect equally.

24 | P a g e
 6. Description of Venture
Mission:
We offer customized fresh flower, ornaments and gifts through our app and provide quick home

delivery service within the time period asked by customers. Through our app, customers can have

the clear idea how their product is going to look like, which flowers and decoration equipment’s

are they using and how much will it cost. We ensure fresh original flower by the best packaging

system in Bangladesh with safe delivery for our customers

Vision:
There are very few companies in our country who provides online delivery system through app.

We are not only providing online delivery but also giving consumers the option to customized it

on their own way. We are very positive with our business plan and Our next 5year goal is to add

more products in our business in the gifts section like chocolates, cakes, balloons candles, stuffed

toys etc. We have also the goal to expand our business with an official showroom. And add our

own event management team collaborating with photography team which will decorate different

occasions based on customers preference and. expand the business outside of Dhaka. Right now,

we are outsourcing flower and also cultivating of our own. We farm flowers which are rare like

daisy, orchid, black and blue rose, Sephora. We will expand out farming to some common flowers

also which we buy from local vendors for now.

25 | P a g e
Product and Service:
Bangladesh has always been great industry for flower business. Culturally Bengalis love flowers

and they try to decorate houses, office or halls with different flowers on different occasion. They

also choose floral jewelry over regular one on different occasions like Pohela Boishakh, Pohela

Falgun, Gaye hould and etc. The Bloom Patch provides product and as well as service. Not to

mention that, our app systems allow customers to customize designs of their own. They’ll see

which flowers they have chosen, how does the product look and how much did it cost through the

app. We are very much concerned about the quality of our product (flowers) so we make sure we

deliver in a such way so that nothing gets ruined. That is why, flower delivery is also be conducted

by our own trained delivery man and driver.\

26 | P a g e
Patent, Trade secrets, Product Safety and Liability, Insurance:

 Trademark Patent: We have our trademark patent to keep our logo unique.

 TRADE SECRETS: Trade secrets will be considered in order to safeguard The Bloom

Patch from anyone revealing or disclosing information about the company that could be

harmful the company's employees will sign a confidentiality agreement to be liable.

 PRODUCT SAFETY AND LIABILITY:

As we provide delivery throughout personal delivery truck, we make sure out flowers are fresh

and just the way it is made. Those flowers who come with thorns we make sure it is removed

before designing or delivery. We also used pesticides to keep away flower bees and insect free.

We also use sprays to get rid of bees which does not change the fragrance.

 INSURANCES:

In order to control the risk of the newly founded company The Bloom

Patch, several insurances will be taken out to safeguard the company's financial net worth

and which are required by law.

 PROPERTY INSURANCE: To be safe from losses and furthermore

investment, The Bloom Patch has property Insurance.

 LIFE INSURANCE: Life Insurance will guard The Bloom Patch by

providing financial protection for sole proprietorship survivor or loss of

main executive partners.

27 | P a g e
  WORKERS COMPENSATION INSURANCE: This insurance will

help employs in case of emergency while working. As we are

collaborating with IT company for our app and development segment of

main business, we have signed property insurance if anything goes the

other way, our collaboration must justify.

 BONDING INSURANCE: To protect our company from employee

theft Bonding insurance is must it will also make sure that The Bloom

Patch is protected even if a core business partners is failed to contribute

in business which he/she was legally signed for.

Reasons behind future success of “The Bloom Patch”:

As we are providing a new business venture on the market there are less competitors for us. People

are more online oriented these days so it is a plus point for us that we will never run out of business.

Flower is a common and desired thing in Bengali culture all over the country. The need of flower

will not fade away in future. Bengali people are also very much into customized design; they want

their thing in their way. We care about our customers and we provide exactly the way they want

their product to be. So, this is why they trust us and can reply on us. We can used this in future to

expand out business with some new product besides customized floral service. customer loyalty.

Almost everyone has smartphone and we are providing out service though an app where customers

can order sitting in home rather than going to physical store. So, it is intriguing more customers

day by day.

28 | P a g e
Development works completed to date:
As it is just a start up company, we have not yet started taking order and delivering yet. However,

considering development work till now, we have done lot of estimations about our financial

planning for next 3years, business cost we have done market analysis thoroughly customer analysis

and to know our business environment situation better before entering the market and fixed the

products and services we want to offer. We have selected land in Savar from where out flowers

will be produced by our own farmers. We have selected a office in Gulshan. One of our business

partners had a spare office floor and we started there for now. We hare not yet done with the office

decorations. For now, primarily, the business partners along with the farmers, delivery manager

and IT collaboration we will handle the entire business. We are planning to hire employees to do

works for us. We also have estimated the cost and budget for purchasing office equipment as well

as for the decoration. We have a warehouse where all the flowers will be stocked. We also have a

freezer section inside the warehouse because some of the flowers needs to be protected from

high/low temperature to keep it fresh.

Fig: Delivery Truck

29 | P a g e
Fig: Farehouse

Fig: Freezer Section inside warehouse

Size of “The Bloom Patch”:

Initially, The Bloom Patch will have a funding of approximately 5lakh which will be funded

partially by the 5 partners the bloom patch. After running the bunnies and if needed we will go for

commercial banks loans. The Bloom Patch has 5members who will be working as the main

30 | P a g e
managerial team. 2wokers will be hired as receptionist and one for the SCM who will be in charge

for the delivery system. We also have 5florists who has minimum 5yeasrs of working experience.

Location of “The Bloom Patch”:

The name of our startup is The bloom patch. Considering the need and availability we have decided

to create out office in Bashundhara RA. One of our partners had a spare flat so we will be using

that and decorate the office according to our budget plan. It is also convenient for other official

purposes also cease it is in one of the main official areas of Dhaka. Our store house is nearby of

the head office in Bashundhara RA because of cost management issues and space.

Fig: Inside view of our head office in Bashundhara RA

we decided to use a warehouse which was pervious used as a storehouse of a paint company so

there is many things we will be saving from our budget because it has already a benefit of a

warehouse. What we will be adding is the freezer. We will be using the warehouse adjacent to

head office because of communication easier. an old empty building stays in the location which

was previously a local soap factory. We will be using this old building for our factory. We will

need to do renovation the office.

31 | P a g e
Reasons for choosing Bashundhara as the location for office:
As, one of our business partners already had a flat in Bashundhara RA we used that as our office

to save cost. It was also easy for us to rent our warehouse nearby so we went for Bashundhara RA

as our head office location.

Office Equipment and personnel:

As our estimation, we will need to invest around Taka 5,000,000 for purchasing office equipment.

We for purchasing equipment 5 core business partners who will be in managerial role we will set

CC Tv cameras inside the office and warehouse. Table Chairs book self as office equipment’s.

 One receptionist

 SCM manager who will be in charge of communication with farmers and delivery system.

Also be head of warehouse

 5 trained florists

 2 customer managers

 Warehouse manager

We also be using-

● Automated equipment that will assemble the mosquito slayer gun into the final finished product.

● Label printers that will print the essential for hassle free delivery

● Packaging equipment that will keep our flowers fresh

32 | P a g e
Present and Required Experience needed to successfully implement the
business plan:

Before starting any startup, all of the business core member had practical knowledge about the

market and business plan and experience as needed.

What The bloom patch has:

 A strong relationship among the partners which is very essential to establish up a new

company in the market.

 Good knowledge about flowers. before entering the market all of the core members

thoroughly analysis market demand and flower venture and cultivation of flowers.

 Good communication with florists, farmers and delivery man. Another key to good

business is communication. We have good communication and use most suitable platform

to communicate with out busine ss mangers and employees so that no information gets

missing and we can deliver the best at time.

 Choosing the right location for your business is also crucial. We discovered that

Bashundhara R/A is the easiest location to run our busines office. This decision will be

profitable once we run the business.

 Enthusiasm and a good idea are essential in developing a successful business. In the flower

vendor and designing, imagination and creativity is must needed. All of the partners are

very creative on their own way. We have unique plans that will provide us strength in future

to tun the business.

33 | P a g e
 We have also done marker analyses. We know how much does flowers cost for events

and gifts. We are providing cheapest customized flowers which will grab customer

loyalty in no time. We are also free from core competitors.

34 | P a g e
 References
 Daily Asian Age. (2016, February 13). Flower business booms on Valentine’s Day.
Retrieved from Daily Asian Age web site: https://dailyasianage.com/news/10815/flower-
business-booms-on-valentines-day
 Ibrahim Hossain Ovi, N. M. (2018, December 4). Bangladesh flower market reaches
Tk1,200cr, expanding at 10% rate. Retrieved from Dhaka Tribune web site:
https://www.dhakatribune.com/business/commerce/2018/12/04/bangladesh-flower-
market-reaches-tk1-200cr-expanding-at-10-rate
 Islam, M. Z. (2020, Januray 2). ICT Division seeks Tk 50cr for Startup Bangladesh Co.
Retrieved from The Daily Star web site : https://www.thedailystar.net/business/news/ict-
division-seeks-tk-50cr-startup-bangladesh-co-1848337
 LightCastle Analytics Wing. (2019, October 17). Bangladesh Budget: Education, E-
Commerce and Capital Markets. Retrieved from Light Castle BD web site:
https://www.lightcastlebd.com/insights/2019/10/bangladesh-budget-education-e-
commerce-and-capital-markets
 Mim, Z. (2020, September 12). Floriculture: A lucrative sector in Bangladesh. Retrieved
from The Business Standard web site: https://www.tbsnews.net/thoughts/floriculture-
lucrative-sector-bangladesh-131728
 Mim, Z. (2020, September 12). Floriculture: A lucrative sector in Bangladesh. Retrieved
from The Business Standard web site: https://www.tbsnews.net/thoughts/floriculture-
lucrative-sector-bangladesh-131728
 Tanni, T. H. (2021, February 26). F-commerce: a double-edged sword. Retrieved from
The New Age BD web site: https://www.newagebd.net/article/131161/f-commerce-a-
double-edged-sword
 Team Flower Education . (n.d.). 9 Ways to Make Your Floral Business More Sustainable.
Retrieved from Team Flower Education web site:
https://education.teamflower.org/learn/business/ssl/9-ways-to-make-your-floral-business-
more-sustainable?fbclid=IwAR17VEpIhDrZgI0qM1K2nuZ3NWQ2-
aJP3_qDRC8Sv2mEsKiRT_Cr3Zy5se0
 The Business Standard . (2020, September 12). Floriculture: A lucrative sector in
Bangladesh. Retrieved from The Business Standard web site:
https://www.tbsnews.net/thoughts/floriculture-lucrative-sector-bangladesh-131728
 Zubayer, M. G. (2021, September 20). E-commerce sector: Now is the time to set things
right. Retrieved from The Financial Express web site:
https://thefinancialexpress.com.bd/views/e-commerce-sector-now-is-the-time-to-set-
things-right-1633924076

35 | P a g e
 Appendix
In person survey pictures of competitors:

The video drive link:

https://drive.google.com/file/d/1NH9CB7bBJ86IV654coJ424_PbXEjfvmG/view?usp=shari
ng

36 | P a g e