Group 1 Name: Power Bites

Group members: Asia Begum Munna - 1810596

Faiza Juheina Hoque - 2110153
Labib Mahdi – 2221503
Golam Mubin Rasul – 2320432
Md. Asifuzzaman – 2321312
Course Title: Introduction to Business
Course ID: BUS201
Submission Date: April 13th, 2023
1. Executive Summary:

Our business name is "Power Bites", with our tagline being “Bite Sized Energy”. It's a protein candy
company & it is both available online and in general stores.

Synopsis:
Our protein candy business aims to solve the problem of limited options for people who want to enjoy
sweet treats while maintaining a healthy lifestyle. Many traditional candies are high in sugar and
calories, which can be a barrier for those who are watching their diets or trying to incorporate more
protein into their daily intake. Our protein candy offers a delicious and guilt-free alternative, allowing
individuals to indulge in their sweet cravings while also meeting their nutritional needs. By providing a
healthier candy option, our business aims to make it easier for people to maintain a balanced diet and
achieve their health goals without sacrificing taste or satisfaction.

Business Concept:
Certainly! Our new protein candy business is a company that specializes in producing and selling candy
products that are high in protein. The main goal of our business is to provide a delicious and convenient
way for people to increase their protein intake, which is important for maintaining muscle mass and
overall health. Our protein candy products come with a variety of flavors and types, our business may
also focus on using high-quality, natural ingredients to create a healthy and nutritious candy option for
our customers. Overall, our protein candy business is all about providing a tasty and guilt-free way for
people to meet their protein needs while satisfying their sweet tooth.

Competitive Advantages:
Our protein candy business has several competitive advantages that set it apart from other candy
businesses. Here are a few examples:
1. Unique product offering: Our protein candy business provides a unique product that combines the
delicious taste of candy with the added benefit of protein. This sets us apart from traditional candy
businesses and appeals to health-conscious consumers who are looking for a healthier alternative to
traditional candy.
2.High-quality ingredients: Our protein candy business uses only the highest quality ingredients to
create its products. This commitment to quality ensures that our candy not only tastes great but is also
good for you.
3. Innovative flavors: Our protein candy business offers a wide variety of innovative flavors that cannot
be found anywhere else. This helps to differentiate our business from competitors and keeps customers
coming back for more.
4. Online ordering and delivery: Our protein candy business offers online ordering and delivery, which
makes it easy for customers to purchase our products from the comfort of their own homes. This
convenience factor sets us apart from traditional candy businesses that require customers to physically
visit a store. Overall, our protein candy business has several competitive advantages that make it stand
out in the market. By continuing to focus on quality ingredients, innovative flavors, and convenient
ordering options, we can continue to grow our business and attract new customers. By conducting
thorough market research and testing our product in a small market, we gain insights into the potential
demand for our protein candy business service.

Management Team:
CEO – Golam Rasul Mubin: Mubin will be responsible for overseeing the overall strategy and direction of
the company and ensuring that the business is meeting its goals and objectives.
Human Resource Management – Asia Begum Munna: Asiya will be responsible for managing the
company's human resources, including hiring, training, and employee relations.
Financial Head – Faiza Juheina Hoque: Faiza will be responsible for managing the company's finances,
including budgeting, forecasting, and financial reporting.
Marketing Manager – Labib Mahdi: Labib will be responsible for developing and executing marketing
strategies to promote the company's protein candy products and increase sales.
Head of Media – Md. Asifuzzaman: Asif will be responsible for managing the company's media presence,
including social media, advertising, and public relations.

After conducting a thorough financial analysis, we have determined that our candy business is well
positioned for success. Our analysis indicates that our revenue streams are stable, and our profit
margins are healthy. We have identified potential areas for growth and expansion, such as increasing
our production capacity and expanding into new markets.

Our financial projections indicate that with careful management and strategic decision-making, we can
expect to see continued growth and profitability over the next several years. We have set realistic
financial goals and are committed to achieving them through diligent planning and execution. Overall,
our financial analysis demonstrates that our candy business is a strong and viable investment
opportunity, with the potential for significant returns. We are excited to continue building our business
and contributing to the candy industry through our commitment to quality and Innovation.

2. Company Overview:

We will be operating as a B2C (business-to-consumer) retailer. This means that we will be selling our
protein candy products directly to individual consumers through various retail channels, such as online
stores, super shops brick-and-mortar stores, and other retail outlets.

Mission Statement:
Our protein candy business provides high-quality, delicious treats to our customers. Our mission is to
create sweet moments of joy and happiness through our products, while maintaining a commitment to
using only the finest ingredients and sustainable business practices. Our objectives are to become a
leading provider of protein candy products in the market, to expand our product line to include a diverse
range of flavors and types of candy, and to provide exceptional customer service that exceeds
expectations. Our goals include increasing brand awareness through strategic marketing efforts,
establishing partnerships with other businesses in the industry, and continually improving our
manufacturing processes to ensure the highest quality products. Overall, our candy business is focused
on creating a delightful experience for our customers while upholding our values of quality and
sustainability.

Business Identification:
Our new protein candy business is focused on providing delicious, high-protein candy options to health-
conscious consumers. Our products are made with high-quality, all-natural ingredients and are designed
to satisfy cravings while also providing a boost of protein. Our target customers are individuals who
value health and fitness, but also enjoy indulging in sweets from time to time. We believe that our
protein candy options will appeal to those who are seeking a healthier alternative to traditional candy,
without sacrificing taste or quality. As a new player in the protein candy industry, we aim to differentiate
ourselves by offering unique and innovative flavors that cannot be found elsewhere. We also plan to
partner with fitness influencers and gyms to promote our products and build brand awareness. Overall,
our goal is to become a leading provider of high-protein candy options, and to help our customers
achieve their health and fitness goals while still enjoying the occasional indulgence.

Business Philosophy:
Our protein candy business is built on a strong foundation of philosophy, principles, and values that
guide our decision-making and actions. Our philosophy is centered around the idea that everyone
deserves to indulge in delicious treats without compromising on their health and fitness goals. We
believe that protein candy can provide a guilt-free snacking experience that is both satisfying and
nourishing. Our principles are based on transparency, honesty, and integrity. We are committed to being
transparent about our ingredients and manufacturing processes, and we strive to be honest in all of our
business dealings. We believe that integrity is essential to building trust with our customers and
partners. Our values include quality, innovation, and sustainability. We are dedicated to producing high-
quality protein candy products that meet the highest standards of taste and nutrition.

Core Competency / Competitive Advantages:

As a new protein candy business, we have identified several core competencies and competitive
advantages that set us apart from other candy companies in the market. First, our focus on protein sets
us apart from traditional candy companies. We use high-quality protein sources to create delicious
candy that not only satisfies customers' sweet cravings but also provides a healthy alternative to
traditional candy. Second, we have a strong commitment to using only natural and organic ingredients in
our products. This commitment to quality ensures that our candy is not only healthy but also free of
harmful additives and preservatives. Third, we have invested in state-of-the-art manufacturing
processes that allow us to produce candy in a more efficient and sustainable way. This not only reduces
our environmental impact but also allows us to offer our products at a more competitive price point.
Fourth, we have a strong brand identity and marketing strategy that differentiates us from other candy
companies in the market. Our branding emphasizes our commitment to health, sustainability, and social
responsibility, which resonates with consumers who are increasingly conscious of the impact of their
purchasing decisions. Overall, our core competencies and competitive advantages allow us to offer a
unique and compelling product to consumers who are looking for a healthier and more sustainable
alternative to traditional candy.
Legal Form of Ownership:
Our legal form of ownership will be partnership business. Because as a partnership, the legal form of
ownership means that the business will be owned by all five partners, who will share in the profits and
losses of the business. In a partnership, each partner is responsible for contributing to the business in
some way, whether it's through providing capital, managing operations, or contributing expertise. It's
important to have a clear understanding of each partner's role and responsibilities, as well as how
profits and losses will be divided among the partners. Additionally, it's important to have a partnership
agreement in place that outlines the terms of the partnership, including the roles and responsibilities of
each partner, how profits and losses will be allocated, how decisions will be made, and what happens in
the event of a dispute or if one partner wants to leave the partnership.

[Part 1,2 done by Md. Asifuzzaman]

3. Product Description

Power Bites refers to the supplement candies that provide food benefits, nutritive value, and energy.
Proteins, and carbohydrates are the key ingredients present in these bars. These energy candies are a
great source of immediate energy and are mainly used as a boost of energy. These candies are healthy
and convenient on-the-go snacks, due to which we expect the consumer demand to rise, thereby
accelerating the global energy candy sales.

Physical features:
This candy comes in a small package with a balanced diet consisting of micronutrients, other nutrients,
and protein which are required daily. It will come in a small wrapper, consisting of two pieces of candies.
And it also comes with different flavors like original, which is a sweet and sour flavor, lemon and cherry
flavors for sour lovers, and apple or grape flavors for the ones who prefer sweeter candies. Our candy
will be priced 20tk.

Product Advantage:
- Energy requirements, quick usage, easy provision for nutrition, and convenience of storage and these
factors are associated with the higher demand for innovative snacks mainly in developed countries.
- Due to the covid-19 epidemic, many retail stores, supermarkets, sales channels, and malls were closed
and some are still close due to strict lockdown rules imposed by the government around the world.
Various manufacturing brands have shifted to e-commerce platforms to generate revenues and boost
their sales during the lockdown. In some countries, lockdown restrictions are gradually shifting due to
which offline sales are increasing currently. Also, in our research we found that the global energy bars
market size is expected to reach $1.1 billion by 2027. So, we have the advantage of making this candy
for consumers.

4. Industry Analysis:

Owing to fast-paced lifestyles and the need for instant energy among adults, there has been a growing
demand for healthy and convenient food that can be consumed instantly without any preparation.
Energy candies, which are packed into small quantities containing high amounts of instant energy and all
the daily essential nutrients and micronutrients, have been widely adopted, thus propelling the market
growth. Also, the growing trend of on-the-go snacking is becoming extremely popular among children
owing to their need for regular meals while adults prefer them due to active hectic lifestyles. Other
factors, such as growing disposable incomes, ease of carrying, and increasing health concerns. As per
government sources, the employment rate in the United States is at around 61% in 2021, which
amounts to over 157 million people having a busy daily life and smaller breaks in between. With
consumer spending increasing on packaged foods and there being no time to prepare meals, people are
turning toward convenience foods, like energy bars, for their energy requirements on the go. In 2021,
75% of American bar consumers ate them as a snack while 60% replaced a traditional breakfast with the
more portable option. Moreover, 30% of Americans say it’s hard to prepare meals, given their busy
schedules. So, we can say that we have the advantage of making people convinced that this candy is
helpful for health, and it also comes with less price so that everyone can afford it easily. Also, we make it
as an online base business so that everyone can easily get home delivery with free delivery charge for
1st month.

Economic Environment:
These are the external economic factors that influence the buying habits of consumers and businesses
affect the performance of a company. Candy business has profit and people of all ages like candies so it
will increase economy and it's going to affect positively. However, Excessive government regulations can
increase the cost of doing business and make it more difficult for businesses to operate efficiently.

Demographic Environment:
An increase in income levels can be beneficial for a business as it can lead to increased consumer
spending, but if a business operates in an area where the population is declining or shifting, it can
negatively impact the business's customer base. For example, if a candy business is in an area where
people are moving out of, the business may see a decline in sales.

Competitive Environment:
We surely have an advantage here as there are no competitors to our business.

Legal and Political Environment:

The political-legal environment is a combination of a lot of factors such as current political leader,
business laws, government policies and other laws too. Startup business must have to be legal.

[ Part 3, 4 done by – Asia Begum Munna]

5. Market Analysis:
Market Segmentation:
The core reason as to why we segment our market is to get a better understanding of our consumers. By
targeting specific segments of the market with tailored marketing messages and products, businesses
can improve their marketing effectiveness.

Demographic Psychographic Behavioural Geographic

Segmentation Segmentation Segmentation Segmentation

By age: - Consumers are loyal. - Consumers will only - The product is both
* Under 16: They buy our product as we domestic and
account for most of - Users are regular have no competitior international, and is
their sales. available in both urban
* 16-30: The account - Consumers are - Consumers will buy and rural areas.
of the major shares of benefitted with not only because they
the customer base. enhanced need it, but also
performance. because they are
By occupation: curious about the new
Mostly bought by -The product is bought candy
students, working by enthusiastic,
professionals, sports ambitious and/or
enthusiasts and determined
athletes. consumers, and also by
people who are open
to experience more.

- The product is bought

for all time use

Target Marketing:
There are many people who benefit from protein intake, after all protein is a daily need of human’s body.
The target market for our protein candy would be mainly athletes / people who require a boost of
energy. However, our product is open to everyone, starting from children to elderly people.

Positioning Strategy:
Power Bites uses mono-segment type of positioning, meaning the company appeals to the wants and
needs of a single customer segment. Our company positioning strategy is based on the concept of
product benefit to the consumer. The concept of Power Bites being positioned as “Bites of energy” is a
metaphor which is the at the center of all positioning strategies of the company. It will gain a favorable
image in the mind of consumers.
6. SWOT Analysis:
Every business has their own strengths and opportunities, and weaknesses and threats. Here is the
SWOT analysis of our business:

Strength
- High quality candy.
- High in protein, fiber, and other essential nutrients.
- Convenient and affordable.
- No competition as it is a completely new and only product.
- Varieties; different flavors and sizes.

Weakness
- It's a new kind of product in the market all the customers might not take it positively.
- Some people still may prefer energy chocolate bars over our energy candy.

Opportunities:
- With the increasing emphasis on health and wellness, there is a growing market for healthier snack
options, which could benefit our product that are marketed as nutritious and natural.
- Online sales have been growing, providing an opportunity for us to expand our reach.

Threats
- Consumer preferences and trends can shift quickly.
- Some consumers may confuse energy candies as regular candies and perceive as overly processed or
unhealthy, which could impact their purchasing decisions.

[ Part 5, 6 done by Labib Mahdi]

7. Marketing Plan:

Goal and Objective:

Power Bites' marketing goal is to provide a new category of candy to the market which has a high
quantity of protein and is aimed at health-conscious consumers or people who are looking for an
alternative to regular candy. The goal is to develop Power Bites as the go-to brand for energy candy in
Bangladesh, also to build a loyal consumer base that appreciates the product's unique value proposition.

Overall Marketing Strategy:

Our marketing strategy will be based on the 4Ps of marketing - Product, Price, Promotion, and Place.
Product: Our product is available in a range of flavors and packaging options. Power Bites candy is a high
protein energy candy. We will highlight the fact that our product is special in the Bangladeshi candy
market. To meet our customers' shifting needs and preferences, we will also put a lot of effort into
constantly enhancing and expanding our product line.
Price: To compete with other candies that contain unhealthy ingredients like artificial coloring, we will
price our product lower. With a price that reflects this value proposition, we will position our product as
a high-end snacking choice that offers both flavor and health benefits.
Promotion: Our marketing plan will be focused on raising interest in our product and brand awareness.
To reach our target audience, we'll use social media sites like Facebook, Instagram, or YouTube. We’ll
run influencer marketing to advertise our product online on these platforms. Also, we will showcase our
product at Food Bangladesh International Expo, advertise it in-store with banners and small leaflets.
Place: Our distribution strategy will be based on physical/retail/general stores, and we will sell our
products both directly through our own website and on other websites like Daraz and in some social
media like Facebook. To sell our product in actual retail stores, we will also collaborate with general
stores like Swapno, Agora etc in major cities like Dhaka, Chittagong, Khulna, Rajshahi.

By focusing on the 4Ps of marketing, we aim to create a holistic marketing strategy that positions Power
Bites as a premium and healthy snacking option and reaches our target audience effectively.

Pricing Strategy:
There will be only one type of packaging for the start up. The package will contain 2 candies in a packet.
We plan to keep the price at BDT 20 taka. Though we plan to review our pricing strategy on a quarterly
basis in the first year of operation and adjust as necessary. This will help us stay competitive in the
market while also ensuring that our product remains affordable and accessible to our target audience.

Promotional Strategy:
Our marketing plan will be focused on increasing brand recognition, attracting interest in our product,
and promoting product testing. To reach our target market, we'll use both online and offline methods.

Online Promotion:
We'll use social media sites like Facebook and Instagram to advertise our goods, interact with potential
customers, and create a brand-centered community. To keep our audience interested and informed, we
will frequently post interesting content, such as product images with fitness advice, or some influencer
photos who collaborate with our company for promotional purposes or running some advertisements.

Offline Marketing:

General Store Banners: To attract potential customers' attention and spark interest in our product, we
will strategically place banners and posters in general stores.

Events: To promote our brand, offer product samples, and showcase our product, we will take part in
fitness-related events and exhibitions.

Sponsorship: We might sponsor local fitness competitions and events to raise interest in our brand and
gain credibility.

Distribution Strategy:
In Bangladesh, Power Bites Energy Candy will be distributed through both online and offline channels.
The company's website as well as social media sites like Facebook and Instagram. We will also sell our
product on e-commerce sites like Daraz. Local grocers, supermarkets, and fitness centers will be among
the offline distribution channels.
The distribution strategy will be reviewed periodically to ensure that the company is meeting its
objectives and to adapt to changes in the market.
Sales Strategy:
To increase sales through online channels, the business will also invest in developing a strong online
presence. The business will invest in online advertising to increase website traffic, and its website and
social media platforms will be prepared for e-commerce.
The sales strategy will be regularly monitored and reviewed to ensure that it is meeting its objectives
and to adapt to changes in the market. The company will use metrics such as sales revenue, customer
satisfaction, and market share to measure the effectiveness of the sales strategy.

8. Operational Plan:

Facilities:

- Power Bites production will take place in a rented facility located in Dhaka, Bangladesh.
- The facility will have adequate space to store raw materials, finished products, and production
equipment and machinery.
- The facility will be equipped with necessary utilities such as water, electricity, and internet
connectivity.
- A customer care service team will be established to handle inquiries, complaints, and orders.

The facility will be designed to meet the production demand and maintain the quality of the product.
The team will regularly check the facility to ensure that it is clean and hygienic .

Production planning and process:

This process will involve the following steps:
- Raw materials inspection and quality control: Before the production process begins, raw
materials will be inspected to ensure that they meet the quality standards required to produce
Power Bites. Any substandard materials will be rejected and replaced.
- Mixing of ingredients to produce candy mass: The approved raw materials will then be mixed
according to a specific recipe to produce the candy mass.
- Molding and shaping into small packets or boxes: Once the candy mass is ready, it will be
molded and shaped into small packets or boxes.
- Packing and labeling: After molding and shaping, the Power Bites will be packed and labeled
with important information such as ingredients, nutritional information, and expiry dates. The
packaging will be designed to protect the candies during transport and storage.
- Quality control: Throughout the production process, quality control and inspection procedures
will be in place to ensure that the Power Bites meet the necessary standards for taste, texture,
and appearance.
- Storage and distribution: Once production is complete, the finished products will be stored in a
safe and controlled environment before being distributed to retailers and wholesalers.

Inventory management:
Inventory management is an important part of the operational plan because it ensures that there are
enough raw materials to meet production demands and that finished products are easily available for
distribution. An automated system will be used to manage the inventory, which will monitor stock levels
and generate alerts when levels fall below a certain threshold.
Supply:
Raw materials for Power Bites will be sourced from reputable suppliers who meet the company's quality
standards. The suppliers will be chosen based on their ability to supply the required quality and quantity
of raw materials at an affordable price. Reliable vendors will also be used to obtain equipment and
machinery.

Distribution:
Power Bites will be available through an online store as well as general stores throughout Bangladesh.
To ensure that its products are easily accessible to consumers, the company will collaborate with a
network of distributors and retailers. The distribution channels will be monitored on a continuous basis
to ensure that they are operating efficiently and effectively.

Order fulfillment:
Order fulfillment will be a major focus of the operational plan because it is critical for meeting customer
demand and maintaining customer satisfaction. Orders will be processed via the online store or in-store
and delivered to customers within the timeframe specified.

Research and development:

Research and development will be an ongoing procedure to ensure that the company stays ahead of the
competition and continues to provide innovative products that meet the needs of its customers. The
company will invest in creating new flavors and product lines.

Financial control:
The financial aspects of the operational plan will be managed by the financial manager, who will oversee
ensuring the company's profitability and financial stability. Regular financial reports will be generated to
monitor cash flow, expenses, and revenue, and adjustments will be made as needed to ensure the
financial health of the company.

[ Part 7, 8 done by Golam Rasul Mubin]

9. Human Resource Management Plan:

A human resource management plan is a strategic approach to managing the workforce of an
organization. It involves identifying the human resources needs of the organization, developing
strategies to meet those needs, and implementing those strategies to achieve organizational objectives.

The HR manager in our business is Asia Begum Munna. As for our candy business, the HR plan would
involve strategies to attract, develop, and retain the best talent available.

1) Workforce planning: As our business is a startup, we will only run it by ourselves. In the future
when we expand our business, we do plan on increasing the number of employees.
2) Employee engagement: Develop initiatives to keep employees engaged and motivated. This may
include team building activities, recognition programs, and employee surveys.
 3) Training and development: Create a training and development program that helps employees
improve their skills and knowledge. This may include on-the-job training, mentorship programs,
and formal training courses.
4) Performance management: Develop a performance management system that measures
employee performance and provides feedback on areas for improvement. This may include
regular performance reviews and goal setting.
5) Compensation and benefits: Develop a competitive compensation and benefits package that
rewards employees for their hard work and dedication. This may include salary, bonuses, health
insurance, and retirement benefits.
6) Compliance: This involves ensuring that the organization is following all relevant laws and
regulations related to human resources management, including equal employment opportunity,
workplace safety, and labor laws.

By developing and implementing a comprehensive human resource management plan, organizations can
attract and retain the best talent, create a positive and productive work environment, and achieve their
organizational objectives.

10. Financial Planning:

The required money to start a regular candy business is around 2lacs, material costs only. As our
business is to make a whole new variant of a candy, a protein candy, the budget we set aside is 7lacs.

The source of our funds would be our personal savings and a small business loan from a trusted bank. As
we are in a partnership business and there are 5 of us, each of us are going to invest 1lac. As for the
other 1lac and unforeseen expenses, we will be taking short-term loans from the bank.

The funds would be allocated as the followings:

- 2 lacs for the ingredients

- 2 lacs for the machinery and rent
- 1 lac for the packaging
- 1 lac for promotion and emergency costs

With 2lacs set aside for ingredients, we can make at least 2500kg worth of candies, per kg including 160
candies. In total we would be producing at least 400,000 candies. We set aside a very low budget for
promotion as we want the quality of our product to promote itself. As we are the only market that would
produce energy candies, we are confident that it will become popular only within a matter of time. We
will only be focusing on advertising it online, for the time being.
 Income Statement for Y1

Net Sales Tk. 3,500,000

Less: Cost of goods sold (Tk. 200,000)
Gross profit Tk. 2,800,000
Less: Operating Expenses:
Machinery costs (Tk. 150,000)
Promotion costs (Tk. 40,000)
Unforeseen costs (Tk. 60,000)
Rent (Tk. 50,000)
Operating Income Tk. 2,550,000
Less: Interest expense (Tk. 11,980)
Income before tax Tk. 2,538,020
Income tax (20%) (Tk. 50,760)
Net Income Tk. 2,487,260

Break – Even Point:

This is the point where we reach the level of production at which the costs of production equal
the revenues for a product, meaning there is no loss or gain for your small business.
[ Part 9, 10 done by Faiza Juheina Hoque]

11. Conclusion
In conclusion, the business plan for our new partnership business provides a comprehensive outline of
our company’s offering of energized candies. We are in a unique position to succeed in our endeavor
because no one else has a market like ours, as revealed by our research. We have included information
regarding our mission, services, product descriptions, marketing plans, financial plans, and a lot more. All
these particulars ought to be examined on a regular basis to guarantee that our plans remain on course.
We hope that this business plan clarifies our goals and objectives, allowing us to achieve success in our
venture.

Thank you.