Sie sind auf Seite 1von 22

BUSINESS MODEL CANVAS

PRINCIPLES OF ENTREPRENEURSHIP (ENT530): BUSINESS MODEL CANVAS

FACULTY & PROGRAMME : Faculty Business management


SEMESTER : Semester 4
PROJECT TITLE : Business Model Canvas
NAME : Muhammad Haziq Bin Shah Arman
ID : 2019542075
CLASS : BA2404D
LECTURER : Madam Azreen Joana Binti Abdullah

i
ACKNOWLEDGEMENT

Alhamdulillah, first of all I would like to thank Allah as finally I was able to finish my
assignment that have been given by my lecturer. In preparation of my assignment, I had to take
the help and guidance of some respected persons, who deserve my deepest gratitude. As the
completion of this assignment gave me much pleasure, I would like to show my gratitude to
Madam Azreen Joana Binti Abdullah for giving me a good guideline for this assignment
throughout numerous consultations. I would also like to expand my gratitude to all my friends
who have directly and indirectly guided me in writing this assignment.

ii
TABLE OF CONTENT

PAGE

TITLE PAGE i

ANKNOWLEDGEMENT ii

TABLE OF CONTENT iii

LIST OF FIGURES iv

LIST OF TABLE v

EXECUTIVE SUMMARY vi

1. INTRODUCTION

1.1 Company Background vii

1.2 Problem Statement viii

1.3 SWOT analysis (two competitors) ix – xii

1.4 Opportunity recognition xiii - xiv

1.5 Purpose of business model canvas preparation xv

2. BUSINESS PROPOSAL

2.1 Business Model Canvas (BMC) xvi


2.2 Details of BMC xvii - xix

3. CONCLUSION xx

4. APPENDICES xxi

iii
List of Figures

CONTENT PAGE

Figure 1: Logo of JBR Bundle ix

Figure 1: Baden Baden Bundle Shop xi

iv
List of Table

CONTENT PAGE

Table 1: SWOT Analysis for JBR Bundle ix

Table 2: SWOT Analysis for Baden Baden Bundle xi

Table 3: Business Model Canvas for BundleFuru xvi

Executive Summary
v
BundleFuru Enterprise is a business developed by a young man, who is a student in
Marketing at UiTM, Muhammad Haziq bin Shah Arman. The business was built while he was in his
final year student at the UiTM at Puncak Alam. Now at only 22 years old, Mr. Haziq own a bundle
shop with five full-time employees.

The idea of building his own empire in clothing industry came from his own interest in
fashion since he was young. In addition, his friend – Mr. Kamarul, who has 6 years’ experience in
running his own empire BONGKAH Enterprise, now is a supplier to BundleFuru Enterprise and
other bundle stores from all around Malaysia and other countries. Mr. Haziq adore and make his
friend as his role model which resulted in inspiring him to do his own business now.

As likely as other business, BundleFuru too cannot run away from challenges in their daily
business operation. BundleFuru Enterprise do not have an effective marketing strategy because Mr.
Haziq strongly believe that offline marketing strategy such as mouth to mouth news spreading is
more interesting than online marketing strategy. This is because Mr. Haziq more comfortable to do
retail where he can face the customer and served them properly. Besides, Mr. Haziq also faced
difficulty in term of custom duty which cost him the most in his business. Also, BundleFuru
Enterprise does not have a proper financial management system. We have done some research that
Malaysia is one developed country, which consists of people with lower income levels and higher
income levels. Thus, we recommended this product suitable for all type of income level as the
prices of our products is reasonable and affordable.

1.0 Introduction
vi
1.1 Company Background

BundleFuru enterprise are owned by me, Muhammad Haziq Bin Shah Arman. I am
inspired to open this store because of my friend who also the owner of bundle shops that
called as Bongkar Vintage Wardrobe – which now has more than 3 branches. It is also
due to my deep interest in clothing and fashion since I was a little. BundleFuru
enterprise was developed while I was still a student at UiTM.

My friend was the main supplier to BundleFuru Enterprise. Items available at


BundleFuru Enterprise are imported from Japan and Thailand which each one is selected
by us through our visit there. This is due to the quality of the bundle products that we try
to control and maintain. Items selected mostly are according to the latest trends that have
their own value. Almost half of the BundleFuru Enterprise customers are bundle regular
fans who are knowledgeable and have high level of passion about the history of the
clothing and brand that they choose. Me as an owner also has a wealth of knowledge on
the history of apparel, can manage with clients like that which makes them permanent
customers there.

BundleFuru Enterprise also added that in bundle business, we usually practice


choosing our product firstly based on latest fashion trends. Brands of the clothing comes
second, which consider as the added value to it. For the interior design of the shop, it
was designed by our self-using warm, relax and simple concept.

vii
1.2 Problem Statement

Expensive product at others shop

There is a lot shop out there especially at mall sell branded clothes but with an
expensive price. This is because, a high-end store such as Sole What and Crossover store
sell their product in a high quality expensive with an expensive price. The other thrift
shop also has same issues which is their price is quite expensive. For them to purchase
the product, it will cost them extra money to purchase it because of their price.

Bad quality and risky product

Shopping at thrift stores should not be scary — but the reality is that even the
savviest of thrift shoppers could unknowingly purchase a bad quality, unsafe and
potentially dangerous items at thrift stores. Most of the thrift shop does not check their
product appropriately. They just sell whenever they received their product from the
supplier. The customer might be unsatisfied with the quality and they might be affected
by skin disease.

Pollution and Less resources used and wasted

The fact is the pair of jeans that you just bought took roughly 1,800 gallons of water
to make. The production process of making one pair of jeans also generated greenhouse
gases equivalent to driving over 80 miles. Similar numbers apply to t-shirts, skirts, and
other clothing. This is much more energy and water intensive than what is commonly
believed. Lastly, studies have shown that 60 percent of the clothes made worldwide are
made from synthetic materials. The production of the synthetic fabrics releases nitrous
oxide, a greenhouse gas that is 310 times stronger than carbon dioxide

viii
1.3 SWOT Analysis (Two Competitors)

Competitors are referring to the other company that involves in the same business-like
our company. It is good to have competition from others because we can improve our
product. Therefore, we had done a survey on the few competitors so that we can avoid the
problems. From the survey, we can know the strength and weaknesses of each competitor.
The better product we create can lead to the number of customers that we can have. To
better understand the competition of BundleFuru Enterprise is facing against JBR bundle
and Baden Baden Bundle, the S.W.O.T analysis of both brands are as follow:

I) JBR Bundle

Figure 1- Logo of JBR Bundle

Strength Weakness

 Lower cost of operation  Lack of staff


 Appeal to social conscience  Inventory cost

Opportunity Threats

 Online expansion due to growth  Competitors


of e-commerce  Changes in consumer taste

ix
 Huge potential to grow its
business

Table 1- SWOT analysis for JBR Bundle

One of the strengths of JBR Bundle is lower cost operation. Their operating costs
are lower than other thrift shop and other types of retail establishments and, which can
positively impact profitability. Customers expect a "no-frills" shopping experience so
there is no need for them to secure a fancy building in a high-rent shopping mall or
provide lots of additional services. Lower operating costs can enable them to reinvest
more of their profits in the business or spend more money on marketing the business if
they choose. Next, appeal to social conscience JBR Bundle thrift shop sell recycled or
used goods, enabling owners to tap into the growing trend of social responsibility. For
the customer’s perspective, they found it more socially acceptable to purchase used
items than in the previous five to 10 years. Customers may also be attracted by the sense
of satisfaction that comes from getting the goods that meet their needs without
overspending. However, JBR Bundle weaknesses are they lack amount of staff. There
might be one or maybe no one that can assist the customer. Inventory cost also one of
the weaknesses for this store. They need to pay more to their supplier. Thus, they need to
sell their goods with a high price.

For opportunity, JBR Bundle have a huge potential to grow their business. It is
because they sell a good quality product and people already know about their business.
JBR Bundle also can take opportunity to grow their business by using online platform.
They can grow their business by online expansion due to the growth of ecommerce.
Although the company is success, some factors pose threats within the industries. JBR
Bundle threats are fierce competition in this type of business. For example, Baden Baden
Bundle and Bondoru Bundle. It is because those shop also sell a good quality product
same like them. Change in consumer taste is also one of the threats. It is because fashion
always change by season.

x
II) Baden Baden Bundle

Figure 2- Baden Baden Bundle Shop

Strength Weakness

 Lower cost of goods sold  Inventory cost


 Unique item  Rental expenses

Opportunity Threats

 Inventory cost  Competitors


 Rental expenses  Sales are severely affected by the
 Huge potential to grow the business performance of the economy
 Increasing in number of online
buyers

xi
Table 2- Swot Analysis for Baden Baden Bundle

The strength that have in Baden Baden Bundle business is their lowest cost of
product. They can often sell their product at lower prices than major retailers. Their
stores also receive donated goods, so they have the ability to offer even greater price
reductions. They also sell unique item so us vintage item that rarely can be found at
another place. It makes this shop different from others. However, for the weaknesses,
they face the same problem as JBR Bundle, which is high of inventory cost. The
inventory cost is high is because they import their product from japan. They also need to
pay more for their rental expenses. It is because of the huge size of their shop.

For opportunity, because of Baden Baden bundle is a well-known shop, they can
expand their business by open another branch at another place. They also can use digital
platform like Facebook and Instagram to increasing their buyer. For the treats that Baden
Baden Bundle need to face is competition from others thrift shop. For example, Bandoru
Bundle that also a well-known shop that also offer a good quality product. They also
need to prepare of decreasing of their sales that affected because of the performance of
the economy.

xii
1.4 Opportunity Recognition

Affordable product

BundleFuru Enterprise come out with an affordable product that we offered to our
customers. We offer the lowest price compare to the other thrift shops out there. A lower
price with a high quality of product that will attract more customers and high demand for
our product. Besides, it gives people a chance to wear not only ordinary item but the
branded item with an affordable price. We believe with the good quality of our product,
there will be a regular customer who will re-purchase the product.

Save and high-quality Product

There is always a small risk when buying vintage or second-hand clothing that
something could go wrong because they have been worn before and they have been
mixed in with other garments which have stood the test of time. BundleFuru Enterprise
is one of the hygienic thrift shops. Before we sell all of our product, we will make sure
that all of the item will be disinfected by using the procedure. Our product also has a
good quality because we inspect all of the item properly before we buy it at our supplier.

Save the environment

xiii
  One of the main reasons why BundleFuru Enterprise was develop is because we
understand the huge impact that the clothing industry has on the environment. A lot of
people here know about things like compost and reusable straws, but nobody really
understands that if you shop at places like Crossover it’s not good for the environment.”
Stores like Crossover, Sole What, and basically any other big clothing retailer you can
think of all fall into the category of fast fashion, which is the rapid mass production of
super cheap clothing. Although the price tags may be low, the environmental costs are
extremely high. Through thrifting at our shop, you keep the resources invested in all of
these clothing items from going to waste. Lastly, the money you spend won’t go toward
supporting an industry that is characterized by water and air pollution.

xiv
1.5 Purpose of Business Model Canvas Preparation

The purpose of preparing Business Model Canvas is to guide thinking through each
of the key components or building blocks for devising a business model. BundleFuru
Enterprise needs to ensure the success of the business by choosing the right partner such as
suppliers, online platforms, banks, and others. It also gets us to think about our business
more systematically and formally in which help to define a clear and smooth business
operation by ensuring that each area is effectively covered to produce a more comprehensive
and considered of the business.

The business model canvas is a strategic management tool that lets us visualize and
access our business idea or concept. This is because BMC focusses the business of
BundleFuru Enterprise on the strategic elements that will have the greatest impact on driving
growth for the business. The business model canvas helps to understand my business model
of a competitor. Besides, it able to see the overall flow of the business and the strength,
weakness, opportunities, and threats of the competitor.

The BMC shows an easier way to understand the different core elements of a
business. BMC is very clear to understand the concept of the business because it helps us
document our business journey so we can easily modify it as we go along. Thus, we can
recognize and act on so that can be improved such as identifies several factors that can
enhance the customer relationship and focus on the target market and customer preferences.
It also reveals clear paths on which to build our organizational innovation strategy. Gaining
a better understanding of our business never hurts because it helps us communicate our

xv
goals to our team and the client why they should do business with us. This will help
BundleFuru Enterprise to focus more and continue to become successful in the future.

2.0 Business Proposal

2.1 Business Model Canvas (BMC)

xvi
Table 3 - Business Model Canvas for BundleFuru

2.2 Detail of BMC

Value proposition:

Every brand or company must have a unique strategy in promoting their business to make it
stand out and different than other competitors in market. In the same area, there are few other
bundle stores too such as JBR bundle shop. But what makes BundleFuru different than others
are we using our physical store as our value proposition. Our stores Interior design that is
comfortable, relax and warm light give a good mood for our customers to shop and comfortable
for us to make a discussion with our supplier. There is small area where customers can sit and
have snacks while waiting their partner shop at our stores. We also provide an air condition in
our shop too.

Besides, Bundlefuru have a great employees. It is because our employees are a well-trained
people. For example, our employees’ must have general knowledge about each item sold, such
as clothing origin, history of the brand and basic latest fashion sense makes them look reliable.
Customers would feel another level of satisfaction when they are shopping with us, not to only
buy items that they want but also get to explore some knowledge about it, which give them
more sentimental value

Next, each item sold are picked selectively, one by one by us or our supplier. Although we
buy it in bulk which usually in big sacks, but each item in the sacks are selected individually, to
maintain the quality of the products and to ensure that each product is marketable and also to

xvii
minimize the defect while received. This is also another reason why some wholesaler in
Malaysia choose BundleFuru as their supplier because the quality is recognized.

Customer segmentation:

Bundlefuru’s products are suitable for all as it available for both gender and comes in
various of size including kids’ size. But mainly, for the segmentation purpose, BundleFuru
targeted youngster who are from nearby schools, college, and university besides true bundle
fans. This is because most of customers from this scope is more fashion aware either they need
it for their daily wear or any function they attend that need costume. As for true bundle fans,
they are likely love to hunt for any bundle items no matter where the store located. With the
physical store open, customers can come by themselves to touch and check the items before
buying it as it will give more satisfaction to the buyer.

Channels:

Other than online platform, BundleFuru mainly will also focus on walk-in retailing where
customer may come to our physical stores that open daily from 10am – 11pm. It applies
business to customer (B2C) marketing tools. Not much of online business involved as they
prefer walk in. But social media interaction like WhatsApp and Instagram do involved when it
comes to the communication with customer and wholesalers internally or externally, usually
Indonesia which has indirectly applying business to business (B2B) marketing tools. For
internal wholesaler, usually as same as walk in customers, they may come by themselves to
physical stores to pick items to buy in bulk. But for external wholesaler, BundleFuru will post
out items in bulk usually in sacks, after been selectively picked, one by one by them

Customer relationship:

BundleFuru gives the customer freedom in self -service. Customers may wander in store and
try out any clothes that they desire as they want at the changing room provided. But when they
have problems, employees will give assistance such as basic knowledge about the history about
the fashion or brands of each clothing available or as simple as finding the right size of clothing
xviii
that fit them. BundleFuru also communicate with the consumer and wholesaler through online
platform which is Instagram.

Key activity:

The activity of BundleFuru is mainly retailing which now most of the time is still using both
traditional way and modern way. Example for Traditional way such as walk-in store, face to
face business transaction. Next then followed by supplying stocks but it also depends on
demands.

Key resources:

All products sold are imported from Thailand and Japan. But it is either imported and
selected by us through our visit there, or it is from Bongkar Vintage Enterprise which located in
Malaysia who taking all the stock from the same area of Thailand and Japan.

Key partner:

BundleFuru’s suppliers are our crucial partner and truly the backbone for our business.
Without them, we will be at loss on what to sold. Suppliers are come from internally which my
friend business, Bongkah Vintage Wardrobe, and externally – Thailand and Japan. Besides,
wholesalers that mostly from Malaysia and Indonesia who take stocks in bulk from BundleFuru
are also our partner in business as us ensure products’ reach widely to end consumers.

Revenue system:

BundleFuru revenue are generated through our daily retailing business activities in online
platform and our store. We target approximately 100 customers come for a visit to our store
daily and 50 customers purchased our product on online platform. Revenue also are generated
through becoming the supplier to the wholesalers too.
xix
Cost Structure:

In our whole business nature, some important cost that taken big portion of the money are
rentals and utilities bills, wages of employees and our operation cost that involve the import and
export process. Operation cost in getting the stocks in hand or try to post out to outside
wholesaler is the biggest cost and most of the time unavoidable as it is compulsory to pay
custom duties and taxes of goods. It cost 10% of duties and taxes on the whole value of goods.

3.0 Conclusion

In a nutshell, it is undeniable that BundleFuru Enterprise is a very potential business with a


bright future. Problems and challenges that this business faced are mostly can be overcome with
some efforts and initiatives as recommended earlier.

The growth that our company portray is something that can be taken as a good example by
other competitors. Even though it lacks in its own internal operation, but we will still manage to
gain a very high profits every month. Thus, it somehow shows that BundleFuru Enterprise have
good relationship with our customers in term of our services, which can become the main reason
why our customers return rate and regular customers are very high.

BundleFuru Enterprise shows a good example in term of fully utilize their value proposition
to expand their business. Value propositions appear meaningful to the customers besides
achievable to the one who run the business. It is surely a highlight that can be taken as an
example for all SMEs in market.

xx
4.0 Appendices

xxi
xxii

Das könnte Ihnen auch gefallen