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Jashore University of Science and Technology

Department of Accounting and Information Systems

Course Title: Introduction To Business
Course Code: AIS-1103
A Term Paper on
Small Business Plan

Submitted by Submitted to
Nandinee Datta Dr. Mohammad Jahangir Alam
ID:211839 Associate Professor
1st Year,1st Semester Department of Accounting And Information
Department of Accounting And Information Systems
Systems Jashore University of Science and
Jashore University of Science and Technology
Technology
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Table of Contents

Abstract....................................................................................................................3
Chapter 01-Description of Products......................................................................4
1.1 Inaphi..............................................................................................................4
1.2 Phanek............................................................................................................5
1.3 Mayek Naibi....................................................................................................6
1.4 Lai phi and Chin phi........................................................................................7
Chapter 02-Marketing plan..................................................................................8
2.1 Comparison with competitors...........................................................................8
2.2 Marketing area and target customers................................................................8
2.3 Pricing............................................................................................................9
2.4 Risks...............................................................................................................9
Chapter 03-Organization and Management Plan..............................................10
3.1 Organization structure.....................................................................................10
3.2 Business Start-up Activities and Cost................................................................10
3.3 Monitoring and Evaluation...............................................................................10
3.4 Business Social Responsibility...........................................................................11
Chapter 04-Other Courses of Action...................................................................12
4.1 Environmental impacts....................................................................................12
4.2 Intellectual property rights...............................................................................12
Conclusion..............................................................................................................13
References ............................................................................................................14
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Abstract

A boutique house refers to a small shop dealing in fashionable clothing or accessories also small
company that offers highly specialized services or products. I along with my father will start a
boutique house in Jashore & it will be based on female dresses. It will run smoothly as there will
be a unique form of dress or sarees which will be hand produced by the Manipuri community.
The name of the house will be Fashion fusion with Manipuris. The product will be Lai Phi and
Chin Phi, Inaphi, Phanek, Mayek Naibi these are some traditional outfit of Manipuris. It is a
unique business to run in Jashore as there is no Manipuri community & I have not seen any
Manipuri store here. Also the price of the products are lesser than other products and are
comfortable to wear. In the starting it will be a trading based business. The finance will be done
by my father. Then I’ll expand it in the city or locality.
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Chapter 01-Description of Products

1.1 Inaphi

Inaphi is a material that is wrapped around your upper torso, similar to a shawl. In contrast to
traditional textiles with vibrant colors and dramatic designs, Manipuri weavers choose gentle
pastel colors to emphasize the shawl's calm charm while keeping composure. The utilized cloth
is semi-transparent. The end product of this exquisite artistry and talent is a royal sheer inaphi of
flawless fineness.Nowadays, a slightly modified and stylish variant known as the Rani Phi is
widely available, which incorporates the use of silk threads, new colours, and other designs to
the old cotton inaphi. You may experiment with colors and fabrics to stay up with shifting trends.
These lovely, low-maintenance inaphis will make you seem absolutely stunning. (Holidify,
2020)
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1.2 Phanek

The Manipuri clothing, phanek, is similar to a sarong or a wrap-around skirt. However, unlike
most other sarongs, it is not semi-transparent. Cotton, silk, and other synthetic textiles are
weaved into phaneks using loin looms. They are often block printed and come in flat colors or
stripes. Traditional clothing lacks flowery motifs and dramatic decorations. A phanek is the
equivalent of a North Indian saree, and is typically worn with a tiny blouse and top cloth.
Phaneks are highly comfortable and attractive summer garments. You can try these famous
Manipuri Phaneks to look ethnic while still looking trendy.
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1.3 Mayek Naibi

Mayek Naibi is a kind of Phanek that is worn on special occasions and during traditional
gatherings. The bottom of the Mayek Naibi is heavily embroidered and studded with studs in
various styles. Mayek Naibi is a refreshing variation from the usual bridal attire and gaudy
colors. If you want to seem ethnic while yet being sophisticated, this is the outfit for you.
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1.4 Lai phi and Chin phi

Lai Phi and Chin Phi are two new additions to traditional phanek attire. They're a popular choice
for carnivals, festivals, and weddings. Chin Phi is a shirt combined with an exquisitely
embroidered phanek, whereas Lai Phi is a gorgeous white piece of cloth edged most beautifully
with yellow. They may make you an instant hit if you match them correctly.
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Chapter 02-Marketing plan

2.1 Comparison with competitors

Manipuri garments, also known as Meitei traditional costume, have a particular style and cultural
importance when compared to other areas of India or the world. Here are some important
distinctions between Manipuri and regular clothing:
Fabric: Manipuri clothing is often composed of hand-woven cotton or silk, but regular clothing
can be made of a variety of textiles such as cotton, polyester, linen, and so on.
Design and style: Manipuri clothing has regionally particular designs and styles, such as
elaborate embroidered work and traditional motifs. Normal clothing, on the other hand, can come
in a variety of patterns and styles, including modern and western.
Gender-specific attire: Traditional Manipuri clothing is gender-specific, with males wearing a
dhoti and kurta and women wearing a phanek and choli. Normal attire is not always gender-
specific, with both men and women dressed in a range of styles.
Significance: Manipuri clothing is culturally significant and is frequently worn during festivals,
weddings, and other major occasions. Normal clothing is more useful and may be worn for a
variety of reasons.
Accessorizing: Manipuri clothing is frequently embellished with traditional jewelry, such as the
chandramala necklace or the thabrel, which are not typically worn with regular clothing.
Overall, Manipuri clothing has a specific style and cultural significance that distinguishes it from
other types of clothing. They showcase the region's distinct cultural history and are an essential
element of the Manipuri people's identity and customs.

2.2 Marketing area and target customers:

A marketing area is a geographical region in which a firm or organization undertakes marketing
efforts in order to reach and engage its target audience. The size and extent of the marketing area
might vary based on the organization's aims and the demographics, geography, and behavior of
the target market. As a student entrepreneur my business’s marketing area will be small. I’ll try
to start it in my university area by attracting the female student of the campus. At first I’ll print
some posters and distribute it among the students for promotion and show them some samples.
After that according to their interest I’ll bring more products with more variety. If the business
runs well in the campus then I’ll expend it with the profit gained from the running business and
open a store in the locality with a view to gain more customers.
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2.3 Pricing

The process of determining the value or worth of a product, service, or asset and assigning a
monetary value or price to it is referred to as pricing. Pricing is a critical component of corporate
strategy since it influences revenue, profitability, market share, and customer satisfaction.
Pricing decisions are influenced by a variety of elements, including manufacturing costs,
demand, competition, target market, marketing goals, and economic conditions. Pricing's
purpose is to maximize profits while ensuring that buyers view the product or service to be good
value for money. Pricing methods range from cost-plus pricing to value-based pricing to
dynamic pricing, and are impacted by market changes, customer behavior, and other external
variables.
As the business will be mainly student based so the price would be moderate otherwise the
customers will loose interest due to high pricing. We cannot charge 2000 BTD for a product
which is mainly around 1000 BTD with the production and others expenses. On contrast we can
also not be in loss by not gaining the profit as the main motive of business is to gain profit. So all
product price will be budget friendly and attractive.

2.4 Risks

As with any business, there are potential risks associated with starting a Manipuri clothes
business. The fashion industry is highly competitive, though I have not seen any other manipuri
clothes store in Jashore but there are several other online platforms which are offering the same
product it can be threatening. The demand for Manipuri clothes may fluctuate depending on
various factors such as seasons, trends, and cultural events. It is important to research the market
and understand the demand for your products to avoid overstocking or understocking. Business
may be affected by supply chain disruptions such as delays in sourcing raw materials or finished
products, shipping delays, or unexpected production issues. Changes in the economy such as
inflation, changes in interest rates, and changes in consumer spending can have a significant
impact on business. There may be concerns around cultural appropriation when it comes to
selling traditional clothing from another culture.
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Chapter 03-Organization and Management Plan

3.1 Organization structure

I or my father would likely handle most, if not all, of the day-to-day operations of the business,
including trading, sales, and customer service As the business grows, we may consider hiring
one or two employees to assist with various tasks. We may also consider outsourcing certain
functions, such as bookkeeping or marketing, to third-party firms or consultants. If the business
expands to the point where we can no longer handle all of the operational tasks, we may choose
to hire a manager to oversee various departments. If the business grows to the point where a
physical store or showroom is necessary, may need to hire additional staff to manage the retail
space. As the business grows, we may formalize policies and procedures to ensure consistent
quality and customer service.

3.2 Business Start-up Activities and Cost

At first I’ll identify a high quality supplier and producer who will produce the qualityful clothes
within a good price. Then I’ll make a contract with them. As my hometown is in Sreemangal and
there is a huge manipuri community who produce their own traditional clothes at a slightly low
price so it’ll be easy for me to find a supplier who will supply the product at a low price. Then
I’ll transport it to Jashore and sell them with a satisfying price and gain profit. At the beginning
I’ll not invest much money I’ll start with 10000 BTD and a minimum product to see the interest
of the customers. After analyzing the market I’ll increase the investment and expand the
business.

3.3 Monitoring and Evaluation

Monitoring and evaluation are important aspects of managing a business. Here are some ways to
monitor and evaluate the performance of business:
Sales tracking: Monitor sales data to track the revenue generated by the business over time. This
will help identify trends in sales and adjust your marketing strategies accordingly.
Customer feedback: Collect feedback from customers through surveys, reviews, and social
media. This can help identify areas where our business is performing well and areas where
improvements can be made.
Inventory management: Tracking inventory levels to ensure that we always have enough stock
to meet customer demand. This can help us avoid stockouts and lost sales.
Financial analysis: Conduct regular financial analysis to track expenses and revenue. This will
help us identify areas where we can reduce costs or increase revenue.
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Marketing effectiveness: Evaluate the effectiveness of marketing campaigns by tracking

metrics such as website traffic, social media engagement, and email open rates.
Supplier evaluation: Monitor the performance of our suppliers to ensure that we are receiving
high-quality products at competitive prices.
Employee performance: Evaluate the performance of employees to ensure that they are
meeting expectations and contributing to the success of the business.
Competitive analysis: Monitor the performance of our competitors to identify areas where we
can improve our business operations and stay competitive.

This can help us make data-driven decisions that lead to long-term success.

3.4 Business Social Responsibility

Business social responsibility (BSR) is a concept that refers to a company's obligation to act in
the best interests of society, beyond its legal and economic obligations. In the context of a
Manipuri clothes business, there are several ways in which BSR can be demonstrated:
Empowering local artisans: Empowering local craftsmen who make Manipuri clothing is one
method to exhibit BSR. This might include paying fair salaries, ensuring safe working
conditions, and giving opportunity for skill development.
Sustainable production practices: Adopting sustainable production processes is another
approach to exhibit BSR. This might involve employing eco-friendly products, decreasing trash,
and conserving energy.
Preservation of cultural heritage: Manipuri clothing has a rich cultural legacy, which may be
preserved by a firm that values BSR. This might include publicizing the distinctive qualities of
Manipuri clothing and supporting cultural events and activities.
Giving back to the community: Giving back to the local community is one way a Manipuri
clothing company can exhibit BSR. This can include donating to local charities and non-profit
groups, as well as contributing to the area's social and economic growth.
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Chapter 04-Other Courses of Action

4.1 Environmental impacts

The Manipuri clothes business can have positive impacts on the environment in various ways:
Natural Fibers: Manipuri clothing is fashioned from biodegradable and sustainable natural fibers
like as cotton, silk, and wool. Unlike synthetic textiles, they do not contribute to plastic pollution
and do not require a lot of energy to make.
Support for Local Farming: The production of Manipuri clothes supports local farming and
encourages the cultivation of natural fibers, which helps to preserve the environment and reduce
the carbon footprint associated with the transportation of goods from distant locations.
Traditional Techniques: Manipuri clothing is frequently made using traditional techniques such
as hand weaving and natural dyeing, which do not need the use of toxic chemicals and lessen the
textile industry's environmental effect.
Recycling and upcycling: Manipuri clothing manufacture may also include the recycling and
upcycling of discarded textiles, minimizing waste and preserving resources.
Cultural Preservation: By encouraging the creation and usage of traditional Manipuri clothing,
the company may help to preserve local culture and practices, which are frequently tied to the
environment and natural resources of the region.

4.2 Intellectual property rights

Intellectual property rights may be very important in the Manipuri clothing industry, especially
when it comes to the safeguarding of indigenous designs and patterns. Manipuri textiles are
known for their elaborate patterns and themes, which are frequently passed down from
generation to generation in local communities. To safeguard these designs, they may need to be
registered as trademarks, copyrights, or design patents. Copyright protection can prohibit others
from duplicating or replicating the original designs, whereas trademark registration can assist to
prevent others from utilizing similar designs or patterns on their products. Design patents can
protect a product's look, including its shape, pattern, and arrangement. In addition to
safeguarding traditional patterns' intellectual property, it is critical to guarantee that the local
artisans and weavers who develop these designs are adequately rewarded for their work. Fair
trade practices, license agreements, and royalties can all help to achieve this. Overall, intellectual
property rights may assist to safeguard Manipuri textiles' distinctive cultural history while also
allowing local people to gain economically from their traditional patterns and workmanship.
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Conclusion

In conclusion, Manipuri clothing is a unique and culturally significant style of clothing that has a
distinct regional design and style. The main types of Manipuri clothing include Inaphi, Phanek,
Mayek Naibi, Lai Phi, and Chin Phi. These garments have specific uses and are often worn
during festivals, weddings, and other special occasions. The marketing plan for a Manipuri
clothing business would involve targeting a specific geographic area, such as a university
campus, and promoting the products through posters and samples. The initial pricing strategy
should be moderate, considering the student-based market. As with any business, there are risks
involved, such as market competition, supply chain disruptions, and changes in customer
preferences. However, by focusing on the unique cultural heritage of Manipuri clothing and
providing high-quality products at affordable prices, the business can stand out and attract loyal
customers.
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References

Holidify. (2020). 6 Dresses of Manipur - Exotic Costumes of Manipuri Culture.

www.holidify.com. https://www.holidify.com/pages/manipuri-dresses-31.html