ENTREPRENEURSHIP

BUSINESS PLAN FORMAT

I. Executive Summary
II. Management and Organization
III. Product/Service Plan
IV. Market Plan
V. Financial Plan

I. EXECUTIVE SUMMARY

This is the last part to be accomplished because it will summarize all the
information and data gathered from Parts II-V of the business plan.

What are the information needed?

 Description of the proposed business and business model

 Description of the market opportunity to capture, or market problem
the business solves
 Reasons why this is an attractive business opportunity
 Key distinctions or differentiators of the business versus competitors
 Overview of the sales, marketing, and operations strategy and plan
 Description of the executive plan and timeline
 Overview of projected financials containing revenues, costs, profits,
and assumptions

II. MANAGEMENT AND ORGANIZATION

What are the information needed?

 Company Name, Logo and Address

 Vision and Mission Statements
 Key Personnel
 Workforce and Support Personnel
 Organizational Chart
 Ownership, Capitalization, Compensation and incentives
 External Management Support

III. PRODUCT/SERVICE PLAN

What are the information needed?

 Purpose of the product/ service

 Product’s unique features
 Material requirements and sources of supply
 Equipment that will be used to manufacture the product/ render the
service
 Production/ Service Process and Controls
 Distribution logistics
 Regulatory and other compliance issues

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IV. MARKET PLAN
What are the information needed?

 Market Analysis which includes demand and supply vis-à-vis

competitors
 Marketing and Sales Strategies
 Product/Service Characteristics or features
 Pricing Policy
 Sales Projections

V. FINANCIAL PLAN

What are the information needed?

 Start-up costs requirements

 Financial projections
 Breakeven analysis
 Budget

I. EXECUTIVE SUMMARY

Via’s Fashionable Face Mask will offer unique, fashionable, and has
good quality face masks that will accommodate the needs of the people
nowadays due to COVID-19 in Bataan. Historical data show that there is an
increasing demand for face masks among the towns of Bataan. However, the
existing 5 big competitors are not able to meet such demand resulting to a
big gap. This means that there is a big unmet demand of the market in face
masks. Our goal is to fill something to meet the desired demand. One of our
primary strategies is to offer customers variety of options for choosing their
own face masks. Fashionable face masks will be offered in various colors
and designs to give customers options. Customized face masks will also be
offered to some institutions like schools and offices. Our business will be

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initially operating as a home-based enterprise and will use social media
platforms (like Facebook or Instagram) to advertise the colors and ready-
made designs of the face masks. Customers may have the options to pick up
the products or have it delivered at their convenience. Via’s Fashionable
Face Mask has several unique and competitive designs that will be used to
its advantage to penetrate market.
Initial capitalization for the business is Php 27,000 good for one-
month expense. Expected revenue for 1 year is Php 290,280 while total cost
for goods sold amounted to Php 158,580, while the total cost of goods sold
amounted to Php 158,580.

*Capitalization is based on the start-up summary total qty. per month table.
*Revenue is based on the total peso in year 1 in sales projection table.
*The data for cost of goods sold can be seen at projected income statement table.

II. MANAGEMENT AND ORGANIZATION

A. Company Name: Via’s Fashionable Face Mask

B. Logo:

C. Address: #5380 Zamora St. Brgy. Poblacion, Mariveles, Bataan

D. Vision Statement: Via’s Fashionable Face Mask will be the leading
provider
of unique, fashionable, and high-quality face masks that will accommodate
the needs of the people in Bataan.
E. Mission Statement: Via’s Fashionable Face Mask is a socially responsible
enterprise providing high-quality, unique, and reasonably priced fashionable
face masks which caters health needs of the people in Bataan.
F. Key Personnel: Owner/Manager
G. Work Force and Support Personnel: Sewer, helper
H. Organizational Chart

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Duties and Responsibilities:
1. Owner/ Manager – He/she oversees and manages the business. He/she
is responsible and accountable for every decision or action for the business.
2. Advisory Council – They advise the owner in managerial aspects. They
must be knowledgeable on how the business runs. This position is on call
only.
3. Sewer – He/ She creates and makes the product.
I. Ownership: Sole Proprietorship
J. Capitalization: Php 27,000
K. Compensation and Incentives:
Employees’ Salaries:
Advisory Council – P500 (monthly consultation)
Sewer – P6,850 monthly (P10 x 685 pcs.) (weekend work)
Incentives:
13th month pay
Cash bonus
L. External Management Support: Parents

III. PRODUCT PLAN

A. Purpose of the Product

Via’s Fashionable Face Mask will offer the residents of Bataan, a
unique, good quality and variety of options for choosing their own face
masks. There are different colors to choose from. We can cater schools if
ever they decide to have color coding per grade level. For offices, we can
provide customized face mask like printing the name of the company or any
designs they want.

B. Products Unique Features

Via’s Fashionable Face Mask shows its unique features. The first is
the wide variety of colors that customers can choose from. They can freely
select the color they want. The second is the printed designs of face mask.
This is best for some teenagers who are fashionable.

Below are the samples of face masks:

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C. Material and Equipment Requirements and Sources of Supply

The material requirements and their sources are as follows:

D. Production Process and Controls that will be used to manufacture the

product.

Below is the process on how to make a face mask:

1. Create a pattern.
a. Draw patterns in different size (Small, Medium, Large and Extra Large).
b. Cut the pattern.
2. Transfer the pattern to the fabric, and then cut it.
3. Sew the cut cloth.
4. Trim the excess thread.
5. Pack the face mask in a clean plastic bag.
6. Add label. Print in small square paper the name and logo of the business.
Indicate also the sizes.

Neoprene mask is best used as a material for washable face mask.

Neoprene (also polychloroprene) is a family of synthetic rubbers that are
produced by polymerization of chloroprene (Wikipedia). This fabric is water
resistant that can protect us from the virus.

E. Distribution Logistics
Via’s Fashionable Face Mask initially operates as a home-based
enterprise and uses social media platforms like Facebook and Instagram to
advertise the colors and designs of the washable face masks. Customers
may choose if they will pick-up the item or it will be delivered at their
convenience. For delivery, there should be handling fee (Bataan area only)
and shipping fee (outside Bataan). Fees will be shouldered by the buyer. For
bulk orders, (minimum of 100pcs.) free shipping fee or handling fee is
applied. Due to the crisis today, the washable face masks will not be
displayed in bazaars or school fairs.

F. Regulatory and Other Compliance Issues

Via’s Fashionable Face Mask will be registered as a single
proprietorship type of business to the Department of Trade and Industry
(DTI). A barangay clearance will also be secured before applying for a
mayor’s permit to operate as a home-based business micro enterprise. The
Bureau of Internal Revenue (BIR) registration will also be done after getting

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all the necessary registration documents and permits from DTI, barangay,
and mayor’s office.

IV. MARKET PLAN

B. Marketing and Sales Projection

Marketing Strategy

A competitive and encouraging campaign will aim to increase the

visibility for Via’s Fashionable Face Mask. This will focus on the customer’s
desire to choose colorful and printed washable face mask. Via’s Fashionable
Face Mask will use different channels to communicate this message.

a. Social Media – During this time of crisis, posting in social media is the

best way to communicate with other people. Via’s Fashionable Face Mask
will be active in social media like Facebook and Instagram to showcase and
advertise the product. This will be used in every transaction.

b. Online Resellers - Via’s Fashionable Face Mask will try to reach out
people in social media who are reselling products. As we have seen, it has a
big potential to widen the market. A linkage will be established so that they
become aware of the washable face mask.

C. Sales Strategy

Customers are always after their convenience. Via’s Fashionable Face Mask
sales strategy will assure that ordering and buying face mask is very easy,
exiting, and a great experience. In order to do this, the enterprise will create
a website and a Facebook page where customers can use to order and buy
face mask at their convenience. New designs will be uploaded from time to

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time to notify customers. Electronic payment like bank-to-bank transfer and
other remittance centers to promote cashless transaction.

With these sales strategies, the company develops the customer’s

excitement to order and convenience to pay at their own pace.

D. Product Characteristics or Feature

Via’s Fashionable Face Mask has several competitive features that will
be used to its advantage to achieve market penetration.

 Variety of colors – Customers will be offered 20 different colors of face

mask to choose from. Colors are divided into 2; pastel and dark
colors. Pastel colors include light colors such as yellow, pink, white,
and others while dark colors consist of black, navy blue, army green
and so on.
 Variety of prints – Customers will be offered with different designs.
The printed designs are also divided into two; for men and for women.
These printed designs are best for teenagers and for the adults who
always follow the trends.
 Affordability – Because of the crisis today, many of us have limited
income but the urgent need of wearing face mask is also a must. It is
favorable for the customers to have access to inexpensive yet high-
quality washable face masks.

E. Pricing Policy

Via’s Fashionable Face Mask will adopt the differing price based on the size
and the design policy. As such, below is the pricing scheme that will be
adopted:

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G. Market Analysis Summary

The demand for washable face masks in Bataan has shown steady
increase over the last 5 years. Because of the current crisis, face masks are
very in demand for all ages. To increase market penetration, Via’s
Fashionable Face Mask will offer variety of colors and printed designs of face
masks. At the same time, competition and encouraging marketing campaign
will be done to increase the visibility of Via’s Fashionable Face Mask using
different types of social media and scouting potential online resellers to
widen the market. The enterprise offers price differential based on the size

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and designs with the price ranging from Php 31-40.

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E.g. 89280 x .32 = 28,570
*Net Income = Income before Interest and Tax less Tax
To compute for years 2-5:
*Do the same procedure.
*Cost of goods sold and expenses multiply to the desired percentage you want. In that
projection, 10% increase per year is used to get the amount for years 2-5 (except for permit
and licenses).

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