4000 words Business plan- Biometric lock for luggage. (Its a new innovative product)

A brief about the product is also attached.

A pdf including business model canvas poster is attached. All aspects mentioned in the canvas poster must be covered.

You have to find out the cost of making the product, marketing, selling it . It will be a logical guess obviously.

Deadline-  Excatly 6 hours from now and dnne correctly as per the instructions

LB-5233 1 By Jitesh 12895456 One-page Business Plan SA Biometric Lock’s Company for Luggage bags Lecture: Murray Prideaux Submitted By: Jitesh Student I.D: 12895456 LB-5233 2 By Jitesh 12895456 One Page Business Plan SA Biometric Lock’s Company for Luggage Bags Vision Statement: – “We are planning to achieve $ 30 M in next 3 years for ‘Smart and Advanced Biometric Lock’s Company’. It is a Multinational company which will manufacture and distribute the smart locks for most type of luggage bags. Though it will be covering global market but, right now we are focusing on Australian Market and targeting bags manufacturing companies & travelling people of Australia”. Mission statement: – Now you don’t need to worry about password or key for your luggage bags. We have a Biometric lock with weighting machine and emergency notification provider through mobile. A multi-user lock, you just need to sign up by the help of master user. Strategies  Focusing on making Smart and Advanced Biometric Locks Company as a symbol of Trust & Security.  We are planning to get the users experience by online survey & phone call and will use these experience to improve the product.  Use social media, contacts & networks for promotion to make it a known brand.  Directly placing some locks as sample to give people an idea about our product and its features, which will be going to be organized in the high-class areas Of Australia. Values:  We are focusing on long term business and reorganization of our brand up to international level and earn as much money as we can with our values  Our company’s purpose is to introduce innovation to solve the big problem of security and provide our customer an advance & user-friendly product with best services for which we are planning to provide a customer care number by which customer can talk to us without any charge.  This company will be a place where all employees will be free to give their innovative ideas and will be appreciated by company for their good works.  We have decide that we will be giving 1% of our income to child care charity. Goal: Our first goal is to become a known brand in Australia during 2016. We also planning to increase our sale by 10% by the end of 2017. Plans  Promoting & launching sample by Jan-2016 to get people attention and feedback. Launching the real product by May-2016.  Conduct monthly events, generate $30,000 in sales and to get the feedback from user to improve product. Invest 3% of profit on marketing. Objectives  Increasing the growth with 20% by the end of 2016.  Growth of revenues by 10% to make it $13M per year.  Target 30% of market share.