AMITY BUSINESS SCHOOL

ENTR601
ENTREPRENEURSHIP AND NEW VENTURE CREATION

PSDA-3
BUSINESS AREA: SMART FURNITURE
BUSINESS IDEA: SMART TABLES

Submitted By:

 Swechha Regmi
 Avinash Sher
 Gaurav Tara
 Yuvraj Sharma
 Tanu Girdhar

SECTION-A, MBA TM, SEMESTER-1, BATCH 2022-24

Submitted To:

DR ANJANI KUMAR SINGH

Chapter 1:
 Introduction

1.1 Ideas behind the business

Do you know the feeling when you finally come to your house after a tiring shift
from work or even after a long gym session and you look forward to that dinner at the
table, that is patiently waiting for you to get indulged in. You finally sit at your
dining table and the food gets cold and you’re too lazy and tried to get up and reheat
your food again and you eat it as it is. Well, some of us have been there but we don’t
have to suffer through that again.
Introducing “Smart dining table”. A dining table which will solve this problem so

you can enjoy every bite of your meal as it was the first one.
1.2 Concept & Design

Our company represents dining table meeting technology and how technology can
be integrated with a simple dining table and make them smart. The basic concept is
relying upon heating food and using AI technology for learning the temperature
scale for your food. Whether it’s a pizza or even simple like rajma-rice the
temperature will remain at the point where you want which can be changed by a
simple touch from the provided application which comes along with our Smart
table.
 Chapter 2
Marketing Research

2.1 Market Definition:

The Smart Furniture Market size was valued at USD 2.84 billion in 2021 and is
predicted to reach USD 4.27 billion by 2030 with a CAGR of 4.6% from 2022-
2030. Smart furniture is nothing but normal furniture such as chairs, desks, tables,
and more in contemporary designs for offices and homes, which is equipped with
an intelligent system or is controller operated. This furniture is designed for
meeting the needs of modern-day lifestyles and is far more advanced. Several
furniture companies are integrating smart technologies to improve their products
and make them consumer-centric as well as more attractive & comfortable.

2.2 Market Dynamics and Trends:

The commercial sector is witnessing rapid demand for smart furniture, including
smart office workstations, director’s chairs, sleek chairs, smart office sofas, smart
conference tables, and advanced-designed cabinets, which is one of the primary
factors expected to drive the growth of the smart furniture market. Furthermore,
the rise in demand for space-saving furniture and the proliferation of online
shopping fuel the growth of the smart furniture market. In addition, the increase in
disposable income of consumers creates demand for smart furniture products.

However, fluctuation in demand for furniture along with the import and export
restrictions and sudden disruption in the supply chain during the COVID-19
pandemic has hampered the growth of the market to some extent. On the other
hand, the ongoing trend of smart city initiatives and the surge in the introduction of
innovative smart furniture products by market players are anticipated to provide
lucrative growth opportunities for the market.

Chapter-3
 Ideas and Concept of our Product

Fig. 3.1 Fictional Representation of our product

3.1 About the Product

Dimensions

(Size of our smart table)

1. Full size table: 30.4mL *15.2mW*15.24mH(+2.54cm for lugs)-1kg

2. Half size table: 15.24m(long)*15.24m(wide)*15.24m(high)(+2.54 for lugs)-0.45
kg
3. Quarter size table: 7.62m (long )*15.24m (wide) *15.24m (high)(+2.54cm for
lugs)-0.23kg
 Weight of our smart table

1. Full size Block: 12L*6W*6H(+for lugs)-2.2lbs

2. Half Size Table: 6L*6H*6W(+1 for lugs)-1.0lb
3. Quarter Size Table: 3L*6W*6H(+1 for lugs)-0.5lb

3.2 Features of our smart dining table

1. Combination cooking- Combination of microwave and grill. Use any

permutation combination between the three modes depending on the
model for your cooking needs.
2. Fire Extinguish: smart furniture protection from fire is 80%. As it
signifies that every material embodies a slow burn rate of 2” per minute of
2” wide by 0.5” in the thickness test sample
3. Less transportation cost: Components are tracked and transported to the
site. Placing components is far easier as compared to packaging
assembled pieces. Hence it leads to fewer transportation costs.
4. Design Flexibility: Above two features, provide designers with better
design flexibility. You can extend, reduce or even can change the shape of
the table at any point in time if required. This will lead to better space
utilization
5. Durable, waterproof and easy to clean: smart table, all block modules
are water and chemical-resistant. Use them indoors or outdoors and in wet
or dry environments. Every part is manufactured using a durable, high-
quality, polypropylene, co-polymer and as such can handle the stresses of
 repetitive use. This material is non-absorbing, easily cleaned, and won’t
leach harmful chemicals
6. Protection from Insects: smart table every part is chemical resistant and
can stand up to abuse insects up to 85%.

3.3 SWOT Analysis

 Chapter-4

4.1 The Funding

As a start-up, funding is one of the most crucial elements which will enable us to
perform every activity in our start-up. Financial inflow is water and sunlight to our
seed. For funding one of our main focuses will be getting an “Angel investor” and on
a secondary basis, crowdfunding can be initialized. The rest of the operations will be
carried forward by our own private network including our friends and families and
with our own money. We need a total of ₹ 55,00,000.

 Initial test models will be made from funds collected from Private networks
(i.e. friends families, Self-earned finances, etc.). Funds from this channel
will consist of 16.7% of overall funds.

 Plans are to get 50% of funds at a stake of 20% equity (i.e. ) from Angel
Investors which will be allocated towards further production and other
operations of the company.

 Rest 33.3% of the funds will be allocated from a crowd fundraiser through
which further production and operations will get carried on.
 Funds Allocation

4.2 Product Development costs

Angle Investor Private Networks
Crowd Funding

Particulars Cost (in $)

By secondary data gathering, we found out that making ₹10,00,000
smart dining table which will be procured from China, will
cost us ₹1,00,000 /piece at a bulk rate of net pieces of 10
tables.
App development cost ₹2,00,000
App maintaining cost ₹1,00,000/year
Product delivery and logistics ₹6000-₹10,000
(depending on the
order location)

Wood Cutting machines + maintenance ₹10,40,000

4.3 Operational costs

Warehousing and Facility

 - Rent ₹1,00,000-₹2,00,000 (depending on
the warehousing facility size)
- Vehicles ₹15,00,000
- Bills (Electricity, Misc.) ₹30,000
- Daily employee Refreshment ₹10000(monthly)
- Salaries and Wages ₹10000 (each employee)
- Hiring cost ₹10000
- Furniture (Including tables, ₹2,00,000
chairs, etc.)
- Marketing expenses ₹ 1,00,000

4.4 Assumed Balance sheet -:

Chapter 5
 The Marketing

5.1 Market Segmentations and Scope of the Study:

The global smart furniture market is segmented based on product type, end-use,
distribution channel, and region. Based on product type, the market is segmented
into smart tables & desks, smart stools & benches, smart sofas, smart chairs, and
smart beds. As per end users, the market is categorized into residential and
commercial. By distribution channel, it is bifurcated into online and offline. The
geography breakdown and analysis of each of the aforesaid segments includes
regions comprising North America, Europe, Asia-Pacific, and ROW.

5.2 Geographical Analysis

North America holds the lion's share of the smart furniture market during the
forecast period. This is attributed to factors such as the rapidly increasing
investment in home decoration and home furniture in this region. Moreover, a
rising focus on the development of residential constructions and lifestyle changes
is expected to drive the furniture market growth in this region.

However, Asia Pacific is expected to show a steady rise in the smart furniture
market due to increasing usage of designer furniture embedded with new textures
along with high spending capacity and growth in real estate sectors will boost the
market in this region.

5.3 Competitive Analysis

The smart furniture market players comprising of various market players such as
Inter IKEA Systems BV, Herman Miller, Inc., Steelcase Inc., StoreBound LLC,
 Seebo Interactive Ltd., Milano Smart Living, Modoola Limited, Sobrino, Hi-
Interiors SRL, Sleep Number Corporation. The global smart furniture industry's
key market players adopt various strategies such as product launches, product
development, partnership, collaboration, and agreements to influence market
growth. For instance, in October 2020, Herman Miller expanded the gaming series
with the launch of the Special Gaming Edition Sayl Chair, which is designed for
ultimate performance and optimum comfort with six new expressive colour options
attracting gamers to play in a style atmosphere.

● The standard margins of smart tables are 25% to 30%

● Our pricing for products varies from customer to customer as well as we provide
them with a different solution
● It currently uses product bundle pricing as well, where products are bundled
together and sold at prices lower than the total of individual items.
● It charges a greater price for the products it sells online. This is because delivery
costs have been included in the price of the product.
● has fixed the prices of the final product. Channel members; retailers and
wholesalers, buy the product at a lower price and earn through their margins.
● Sells its products through two marketing channels. The first is where it sells
directly to its customer through its online website. The second is where it
sells to wholesalers who then sell to different retailers located all over the
country. These then sell to their customers.
● It follows an intensive marketing strategy where it tries to include its products in as
many retailers as possible. This ensures that its products are available to
customers easily in different parts of the country.
● has a substantial number of online sales with frequent traffic on its websites. To
run its online operations has partnered with numerous delivery service
providers to provide timely deliveries.
● It follows an omnichannel distribution system where it has integrated its online and
offline stores to allow customers easy access to its products.
● It has a network with many suppliers that provide it with the raw materials needed
for production. It has developed a close working relationship with its
suppliers allowing the company to work with them to innovate and introduce
new and attractive features to its products.

5.4 Our Marketing Strategy -:

The company uses several different channels to market its products. Our marketing
strategy is original, distinctive, and beyond all, it maintains a clear value
proposition. Each idea is curated carefully to support its brand identity and provide
the best experience to customers.

1. The company uses a steady and recognizable theme that covers its product names
and colour scheme.
2. Mixed-and-matched products are available to match each customer’s peculiar style
and needs.
3. Products offer mass-market affordability and reusable durability.
4. Sponsored content with creative partners expands the brand’s appeal to new
demographics.
5. All the items are outlined in a way that’s made to inspire the customer’s vision.
6. The company is participatory, and people are encouraged to take the ideas and run
with them.
7. The company leverages the latest technology to provide cutting-edge experiences
consistent with its quintessence.
 The company also uses social media to promote the brand and its products.
However, the catalogue is the main tool for improving sales and brand promotion.
Both offline and online methods are used to market the brand. It also hosts public
campaigns to increase brand popularity and gain more publicity.

Chapter 6

Common Risks

 Liquidity risk
Liquidity refers to the ease with which an asset can be exchanged for another. So,
if other investors are going to hold illiquid investments, we make sure, we as
founders have enough liquidity elsewhere in our plan to meet the potential needs.

 Volatility risk

No matter how well our company performs, our inventory is still subject to
volatility market risk. We make sure that investors have a source of cash outside of
our investment portfolio to cover unexpected expenses or opportunities.

 Company Risk

Investor can lose money if founders own shares in a company that fails to produce
enough revenue or profits. Investors can reduce company risk
by analysing quarterly earnings results, listening to management commentary on
those results, and measuring performance with different financial ratios.