Business Idea

A business idea is a concept which can be used for commercial purposes. It typically centres on a commodity or service that can be sold for money, according to a unique model. There are several methods for developing and testing a business idea. The ability to come up with a business idea can be transformed into a viable business, where ideas supported by feasibility and a business plan can then be sold to interested investors, firms, and interested parties for a lump sum or a management contract, or as agreed. Business ideas, if introduced at the right time, when demand for such service or a product introduced by the idea is expected to surge, can lead to a very profitable business. Business ideas are always available through different sources; however, it is the application applied on these ideas, and timing makes all the difference in failure or success.

NATIONAL INSTITITUTE OF FASHION TECHNOLOGY, JODHPUR

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Four Different Business Ideas

1) STARTING A ORGANIZED SHOE REPAIRING RETAIL CHAIN
This is something we can go for, as there are no dedicated shops which repair branded shoes like Reebok, Adidas, Puma, Nike etc. along with providing a little customized features to the footwear.

ATTRACTIVENESS
Another reason to have a shoe repair and shoe care routine is your appearance. Do you want to get ahead in the workplace? A nationwide survey showed that 89 percent of business recruiters rate good grooming as very important to becoming a senior executive. The most common mistake for men, and the second most common for women, is unkempt shoes. On a personal level, two out of three young female professionals say unkempt shoes suggest negative characteristics about men in social situations. Half of the men feel the same about women with sloppy footwear. The most frequent negative character traits suggested were sloppiness, indifference to good grooming and to detail in general, and carelessness. Shoes are a reflection of their owner's personality. That's what both personnel professionals -who have been known to observe people closely -- and white collar workers (the people they usually observe) said. Well kept shoes stand for professionalism, attention to detail, ambition, efficiency, conscientiousness, organization, confidence and even friendliness. Given the above facts this idea is attractive enough to start a business with.

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DURABILITY:
The idea of starting an organized shoe repairing retail chain is durable in the sense that certain new features can be added like: In addition to replacing soles and heels, here are some other footwear-related services you can find at your local shoe repair shop.

Shoes can be stretched for increased comfort. Shoes can be adapted to fit unique feet. Heel tips can be changed from hard to non-skid rubber. Heel savers can be applied to prolong the life of the heel. Protective soles can be applied to prolong the life of the leather soles.

New Shoes
One can also visit the shoe repair shop with new shoes. Here are a few ways shoe repairers add value to new footwear.

Protective soles can be applied to extend sole life and increase slip resistance. Shoes can be dyed if a color change is necessary. Shoes that are too tight can be stretched up to a quarter size. Plastic heels can be replaced with slip-resistant rubber. Shoes can be weatherproofed for added protection in wet or oily environments.

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More than shoes

The shoe repairers' expertise isn't limited to your feet. They can also:

Replace Zippers Shorten belts Repair luggage Re-lace baseball gloves Stitch handbags Repair jacket tears Refinish leather coats Replace buckles

TIMELY
Since the target segment is more self-conscious and fashion forward so it is an appropriate time to come up with a retail store providing such a service when there is no big commercial competitor. Also the customers would get the facility of customizing their shoes according to their favourite colors, attributes and other related repairs.

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VALUE FOR CUSTOMERS

Footwear isn't just part of the wardrobe, it is an investment. Spend your money wisely and the return will be more value for your dollar, more comfort, better foot health and even a sense that you are helping the environment. As with all investing, it is wise to have a counselor to make sure your money is well spent and continues to pay dividends. In the footwear arena, that counselor is your local shoe care professional. Shoe repair and shoe care make sense for several reasons. First, shoe repair adds value to your footwear investment. Quality, well-maintained men's shoes can be resold seven to 10 times at a fraction of the cost of new shoes. With new soles and heels, and reconditioned uppers, the shoes will look like new, yet retain that broken-in, comfortable feel. It is not uncommon for a man to get 30 years out of a good pair of shoes. Quality women's shoes can be resold three to five times. Shoe repair can also alleviate a variety of physical problems. Worn heels will change your gait. When you are not walking properly, your feet, ankles, knees, hips and back can all suffer. Improper fit causes calluses, corns and bunions. Shoe repair shops offer stretching services and fitting aids to alleviate those problems.

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2) ORGANIC FOOD BUSINESS

One must have heard about genetically modified organism or the GMO. One surely would have heard about the possible effects it may do to the body. And with this concern, there is an exponential increase of the number of people who are becoming more and more careful to the type food they eat. The organic-food business is booming: About 70 percent of Americans buy organic food occasionally and nearly one quarter buy it every week, according to the Hartman Group, a market research firm. For most of us, the reason is simple: We want natural food that's better for us and for the environment Since organic foods are 100% safe and clean, the market for this is growing at a fast rate. Organic foods may have higher nutritional value than conventional food, according to some research. The reason: In the absence of pesticides and fertilizers, plants boost their production of the phytochemicals (vitamins and antioxidants) that strengthen their resistance to bugs and weeds.

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3) Customized Printed T-Shirts

My T-Shirt! is an exciting new business that allows people to custom design a shirt (specifically the design on the front or back) any way that they would like. By intelligently leveraging cutting edge technology, My T-Shirt! will harness the power of computer sublimation to allow custom shirt printing in production runs as small as one unit. My T-Shirt! will have a storefront in Seattle as well as a comprehensive website that allows ordering to occur anywhere. Imagine the ability to create a totally custom shirt. You choose the material and style of the shirt, and then the image or graphic you want on the front and/or back. This is the ultimate form of expression. There are no limits to what you can communicate. Some people might show their fanaticism for a particular sports team, others a musician. Or you might have a social message or cause on My shirt. Whatever you may decide, you can print any image on my shirt.

Products
My T-Shirt! will offer customers a variety of options for creating their own custom shirts. The majority of orders will be for t-shirts, however other style shirts will be available. My TShirt! has developed a strategic relationship with Hewlett-Packard (HP) printer division. We will use their printer sublimation technology that allows a computer image to be applied to a shirt in a high quality, high resolution, economically feasible manner. This technology creates an image durable enough to withstand thousands of washings. Its photo-like quality, due to significantly higher printer resolution than anything on the market, will show off any image. The technology is cost effective enough to offer customers the ability to order just one unit. Most other competitors' costs prohibit printing custom shirts in one-off production runs. Finally, the customer may choose from an extensive library of existing images, supply their own image, or have an artist create an image for them.

Competitive Advantage
My T-Shirt! has a sustainable competitive edges to assist them in market penetration. The edge is a enormous catalog of graphic images. By establishing strategic partnerships with companies that have existing graphic image libraries, My T-Shirt will offer an unprecedented number of options.

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Objectives
To become known as the premier custom shirt sublimation service. Achieve profitability within 12 months.

Design and implement strict financial controls to help ensure success.

Mission
My T-Shirts mission is to offer the finest in custom shirt sublimation production. My T-Shirt! will offer customers the best product at the best price. Customer's expectations will always be exceeded.

Keys to Success
Leverage cutting edge technology as a competitive advantage. Exceed customer expectations by offering high quality products at reasonable prices with quick turnaround times.

Employ careful financial and accounting analysis to ensure efficiency and proper
controls.

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4) An online retailing store for men wear

The opportunity: The advent of cable television, syndicated radio, and the internet has created a world where a fashion statement in India will be on the streets in a matter days. Online retailing of Mens wear will offer young customers, in big cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are popular nationwide. The key to success to this idea is: Accessible website that is easy to surf. Like a trip to your favorite store. An effective strategy for advertisement, the communities youth oriented business. Use of new technologies like 3D technology, virtual fitting room etc. Youths are more bound to use new technology.

Description of business: Online retailing of Mens wear will offer young customers, in big cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are popular nationwide at a affordable prices. The company will be called cavaliermen.in.

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Ranking Matrix of Ideas

Idea SHOE REPAIRING RETAIL CHAIN CUSTOMIZED PRINTED TSHIRTS AN ONLINE RETAILING STORE FOR MEN WEAR ORGANIC FOOD BUSINESS Attractive 4 3 5 3 Timely 4 3 4 4 Durable 3 4 4 3 Value to customer 4 4 5 5 Total

15
14 18 15

As per ranking given to the Ideas, An Online Retailing Store For Men Wear is the most feasible idea.

The opportunity: The advent of cable television, syndicated radio, and the internet has created a world where a fashion statement in India will be on the streets in a matter days. Online retailing of Mens wear will offer young customers, in big cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are popular nationwide. The key to success to this idea is: Accessible website that is easy to surf. Like a trip to your favorite store. An effective strategy for advertisement, the communities youth oriented business. Use of new technologies like 3D technology, virtual fitting room etc. Youths are more bound to use new technology. Description of business: Online retailing of Mens wear will offer young customers, in big cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are popular nationwide at a affordable prices. The company will be called cavaliermen.in. Vision During the first year of operation we want to gain a good reputation, through affordable prices, fast delivery and great customer service. Accomplish a steady cash flow and long term business partners.

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Mission To be a provide youth oriented quality products at affordable prices known throughout India.

Target market:

Men 13-25 years of age: Youth drives the market so this is the important group to attract to the website.

Men 26-40 years of age: They are the core group that will drive Cavaliermen Culture's success. We will have to assure that the purchase will fit the way the customer wants it to. It will be crucial that the return policy is hassle-free and speedy.

Lifestyle - The market mainly consists of students and young professional. Income - Middle, Upper Middle

Management team: The firm will be owned by Aftab Alam and will be of sole proprietorship in nature.

Organizational Chart

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Financial projections:
Statement of Financing Needed: Cavaliermen.in cost consists mostly of design and marketing. It has Rs 10200000 in investment and Rs 3800000 as short term loan.

Funding: Amount (in Rs) Start up Expenses to Fund Start up Assets to Fund Total Funding Required Assets Non Cash Assets from start up Cash requirement from start up Additional Cash raised Cash Balance on starting date Total Assets Liabilities and Capital Liabilities Current Borrowing Long term Liabilities Account Payable Other Current Liabilities Total Liabilities Capital Planned Investment Investor 1 Investor 2
NATIONAL INSTITITUTE OF FASHION TECHNOLOGY, JODHPUR

4000000 10000000 14000000

0 10000000 0 10000000 10000000

0 3800000 0 0 3800000

5000000 5200000
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Other Additional Investment Required Total Planned Investment Loss at startup Total Capital Total Capital and Liabilities Total Funding

0 0 10200000 4000000 6200000 10000000 14000000

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Financial Plan
Cavaliermen.in cost consists mostly of design and marketing. It has Rs 10200000 in investment and Rs 3800000 as short term loan. Money needed Within the first year, including start-up expenses, I estimate that we will need approximately Rs 14000000. This includes our one-time start-up expenses and our estimated expenses for our first year of operation. At this time, it is difficult to estimate expenses beyond the first year, as we will adjust expenses on product purchases and the like based upon our first years sales/profits.

Start up Requirements
Start up Expenses Legal Stationary etc Brochures Consultants Insurance Rent Leased office Equipments Computer Equipment Website Other Total Startup Expenses Start up Assets Cash Required Start up Inventory Other Current Assets Long Term Assets Total Assets Total Requirements 200000 50000 0 500000 0 200000 1000000 2000000 50000 0 4000000 10000000 0 0 0 10000000 14000000

The startup costs for my business are listed above, broken down into a variety of categories. We will require minimal office furniture and costs for space, as we will be operating from a home office. Business cards and stationary will be necessary, but most of our communication and advertising will be done online, as we are an online business (hence the high cost for advertising and promotion). We will need to purchase goods at the start and we will need a sizeable operating budget so that we can make additional purchases if necessary.

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Operation Plan

A variety of manufacture produce apparels, which are then sold to selected number of wholesalers from which cavalier mens wear, the online retailer purchases its merchandise. These goods are then sold to the consumers by the retailer after taking license from different brands like Levis, Numero Uno, etc.

The company will utilize latest technology like: Use of ERP software Virtual fitting rooms, 3D technology etc RFID In marketing and selling of goods to the consumers.

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