Business Plan

BANKING ACADEMY
FACULTY OF LANGUAGES - GENERAL ENGLISH
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PROJECT FILE
ENGLISH IV
Topic: Silver Jewelry Startup

Instructor : MrS.Cấn Thuý Liên
Group : 07
Course : 2023 - 2024
NAME STUDENT CODE
Nguyen My Ngoc (0975 639 208) 24A4030038

Ha Ngoc Han 24A4032856
Vu Hai Nhi 24A4030323
Dinh Ngoc Diep 24A4030181

Vu Huong Tra 24A4031765
Do Thu Trang 24A4030486

Mai Hong Ngoc 22A4060342
Ha Noi, April 2024

BUSINESS PLAN
1. Executive summary.
Company's Products/Services: "Priscilla" is a dynamic and innovative start-up
specializing in the distribution of affordable silver bracelets with the aim of
making personal fashion styles more accessible to everyone.
Mission: We believe that everyone deserves the opportunity to express their
unique and personal style. With this mission, Priscilla aims to create quality and
reasonably priced silver fashion products, enabling individuals to express
themselves.
Goals: Priscilla stands out in the market due to its commitment to superior quality,
offering products crafted from high-quality silver.
Projections: Positioned for consistent growth, Priscilla anticipates expanding its
product line such as earrings and necklaces. We aim to solidify its position as a
leading destination for affordable and fashionable silver jewelry, thereby
enhancing brand recognition.
2. Company description.
Our company prides itself on having an experienced and enthusiastic leadership
team, consisting of Vu Huong Tra as CEO, overseeing all company operations and
resource management. Dinh Ngoc Diep, as Product Director, ensures products
meet market demands by capturing trends and customer preferences. Vu Hai Nhi
and Ha Ngoc Han, Marketing Director, are responsible for developing marketing
strategies and enhancing brand awareness through traditional and digital channels.
Nguyen My Ngoc, Finance Director, manages the company's finances efficiently,
with solid expertise in financial management and risk assessment. Lastly, Do Thu
Trang and Mai Ngoc, Business Director, focus on expanding distribution networks
and boosting sales through effective sales negotiation.
3. Products and services.

One of the things that sets Priscilla apart from other affordable jewelry brands on
the market is our commitment to quality. Our products are made from 925 silver
that meets international quality standards, ensuring safety for the skin.
Priscilla wants to make special silver bracelets that are both stylish and high-tech.
Our mission is to offer customers innovative wearable accessories that enhance
their style while providing aesthetic and fashionable. We understand the
importance of personalization. That is why we want to bring meaningful products,
each bracelet helps customers mark their own happy moments and stories.
4. Market and competitor research.

Our target market consists of fashion-forward consumers and individuals who
value stylish accessories. We believe our products will appeal to those seeking
fashionable bracelets that integrate into their lifestyle. We also make special silver
bracelets that are high-tech from 925 silver. We intend to capitalize on this
advantage by delivering innovative designs and cutting-edge features.
Our competitive edge lies in the fusion of fashion, hi- tech and personalization,
offering bracelets that set us apart from traditional jewelry retailers and other
accessory brands. Competition from other low-cost bracelet brands like
Mademoiselle Jewelry, Accessories by Yen, and TNJ poses a significant threat to
our business. Even so, only a few of them effectively combine these elements,
giving us a unique market position.
5. Sales and marketing strategy.

Marketing is important for our startup, so we've taken steps to engage with our
target audience through an online marketing campaign on TikTok - a favorite
platform among Generation Z. Initially, we introduce our brand and products via
short videos on our TikTok account. Collaborating with suitable KOLs and KOCs,
we amplify our reach by having them review or showcase our products. To drive
sales, we host live streams during the last three days of each month and special
occasions, offering exclusive discounts. 10% of our budget is paid for Marketing.
This strategy enhances engagement, brand awareness, and boosts sales within our
target demographic.
6. Financial plan and projections.
EXPENSES
LOCATION RENTAL 500$
IMPORT GOODS 1500$

MARKETING 800$
STAFF 700$
PRODUCT DISCOUNT 250$
OTHER COST 250$
TOTAL 4000$
We estimate an initial investment of $10,000 to start the business. Expected

monthly costs are $4000, including staff salaries and operating costs… Each
product ranges from $5 to $15. With an expected customer base of 100 per week
and an average spend of $15 per customer, we predict monthly revenue of $6000.
We aim for steady growth, targeting a 15% monthly increase. Our three-year goal
is to reach an annual income of $70,000, with a net profit of $14,000.
To ensure future growth, we prioritize staying updated on market trends,
enhancing customer service, strengthening our brand, and focusing on expanding
into other segments like rings, which dominated the jewelry market at 33.7% in
2022 and are projected to maintain their lead, reaching 34.5% by 2030.

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BANKING ACADEMY

FACULTY OF LANGUAGES - GENERAL ENGLISH

Topic: Silver Jewelry Startup

NAME STUDENT CODE

Nguyen My Ngoc (0975 639 208) 24A4030038

Vu Hai Nhi 24A4030323

Dinh Ngoc Diep 24A4030181

Do Thu Trang 24A4030486

Ha Noi, April 2024

3. Products and services.

4. Market and competitor research.

5. Sales and marketing strategy.

IMPORT GOODS 1500$

OTHER COST 250$

We estimate an initial investment of $10,000 to start the business. Expected

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