Executive Summary.
With the development and increase in population, there is increase in imports of goods from other country especially from India most of the dairy product are imported from other countries, when these product can be easily produce here in Bhutan. When Bhutan import more, money is leaving the country which is not good for the country. To solve this problem we came up with Namgay Dairy Product which will at least reduce the import of dairy product in Bhutan.
Namgay Dairy Product is a sole partnership business which will be run by Namgay Lham bearing the CID No. 10904002288. The company aims to be the best dairy product selling business in the country. The business is to start on 1st of June 2021.
The business will be set up at Punakha the home village of the proprietor . The land and the cowshed will be contributed by the owner. The owner will also contribute Nu.200000 to the business. The business will take a loan of 800000 from Bhutan Development Bank(BDBL).
There will be four employees including the owner. The proprietor will look over all management. The firm will produce dairy product like ( cheese, dry cheese, lactose free cheese, bottled milk, butter and lactose free milk) which is pure organic and in very reasonable price
Business Idea.
Vision.
“To be the best dairy products selling business in the country”
Mission.
“To produce and supply fresh and organic dairy products in the whole country”.
Purpose & Objectives.
· Further expansion of the business with profit reinvestment measures and sales expansion across the country.
· To earn maximum profit.
· To satisfy customer by providing best quality products and at any time.
· Ensure timely repayment of loan.
Company Description.
Type of company.
Namgay Dairy Products will be dealing with the production and processing all Dairy products. The Firm will produce product that are of chemical free and containing nutrition as well as Eco-friendly. Our firm will produce best quality, normal dairy product and lactose free diary product which will be healthy and at reasonable price.
Business Location.
The Firm will be located at Tobesa under Punakha Dzongkhag due to favorable climatic conditions and feasibility of raising cattle. The reason why I choose the location at Tobesa is because I can use my own land for pasteurization and I don’t have to build cowshed thereby reducing the cost of production. The location is advantageous to the business as it is located between Thimphu and Punakha which is a major town in the country. Form Toebesa, major Dzongkha such as Thimphu, Punakha. Paro and Wangdi Phodrabg are easily assessable to sell our produce.
Product and Services
Unique Selling Proposition.
Namgay Diary product will be unique from other dairy producing business in Bhutan as we will have lactose free cheese and milk.
We care about the quality and the reputation of our firm. So we will produce our product without compromising the quality of our product.
We will not add or use chemical to increase our profit. Our product will be 100% organic which will attract health conscious customers.
Core Values.
· We share a passion for dairy farming.
· Our people are empowered to assume responsibility.
· We are professionals earning our customer’s trust through our commitment and reliability.
Market Analysis.
SWOT Analysis.
Strength
· The company will have easy access to four Dzongkha (Thimphu, Punakha, Paro and Wangdue Phodrang) thereby cutting transporting cost.
· Raise capital easily as I am Using my own land and cowshed.
· Producing lactose free product which is unique form other competitors
Weakness
It is the first time operating a business and lack of experience in this field may affect the business.
There is only few staff in the business. It is difficult to do a business when there is less man power.
Opportunity
With the huge prospect of profit the business will generate there is a possibility for the business to expand in future.
With good future prospect the company can employ more experience workers to manage the business
Thread
Chances of new diseases in cattle
Chance of new competitors with same business idea.
Competitors Research.
We are sure that we can always be the leading dairy product selling business in the market. This is because none of the existing business do not make lactose free dairy product. we will not use any chemical in our process of production. Our product will be 100% organic which will attract health conscious people to use our product.
Legal Framework.
Safety of the business.
Our business would be well insured in RICBL(Royal Insurance Corporation of Bhutan Ltd.) so that we can be able to safe from loss in future. Everything would be insured right after its function starts in our business. We found that RICBL is ready to give us insurance right after our establishment. And also is the trusted insurance company in the country.
Procurement of the license.
We are going to get our business establishment license from Ministry of Trade And Industry
General Manager.
She is the overall manager of the company and is responsible for the day-to-day management of the business.
Finance officer.
She will look after the inflow and outflow money in the business. She will have to prepare financial statement so that we will know the financial position of the business. She is responsible for looking after all financial translations.
Marketing officer
He is responsible to build relation with the supplier and hoteliers. He will be studying about demand of the products and delivery of products in the markets.
Supplier
He is responsible to supply our product to the places where there is demand. He will supply the product in the market, household and hotels.
Marketing and Sales Strategies.
Market Target
Namgay Dairy Product intends to target the population of Punakha, Thimphu and Paro for its core products and to other places as per the demand. For the lack of available data on consumer preferences, an empirical statement could not be made as to the demand for dairy products but for the most Bhutanese cheese and butter makes about 60% of diet content so, for the very reason the company is optimistic about potential customer and market. However the intended target customer portfolio for dairy is 35% of the total production to Hotels in Paro ,Punakha and Thimphu, 15 % of the total production to the Bakeries in Thimphu and Punakha and the remaining 50% of the total production is for the distributors in Paro
Marketing mix.
Place.
For my business to succeed, it’s very important that my business is located at the right place. The chosen location would be convenient for us to distribute our products to the customers as it can easily access four Dzongkhag. It would be perfect for the cattle to be raised and easy to transport the product as there is good road connectivity.
Product.
Our firm will produce diary product which is of good quality and with use of organic materials. It will ensure health safety of our customer and repeated sale. We will also the first ever produce lactose free cheese in the country.
Promotion.
We will mainly focus word of mouth. It is the most effective method of promoting and to do this we have to provide excellent quality product to our customers. We will also use social media such as facebook because we can reach many people through this platform.
Price.
.To determine the price of the products we have taken into consideration many factors like costs involved in producing, distributing, promoting the product and price of the products of the competitors. Namgay Dairy Product will be providing customers with quality products at reasonable prices where our products will be affordable by our target markets and beyond them.
Conclusion
In this present world, Namgay Dairy product has come up with many new dairy product to make it more comfortable for people to have the nutrition they require for their health. My firm has taken the concept of from dairy milk and applied it in my firm. My firm will be looking to mainly target the tourists, local people around Bhutan.
My firm’s product will make it easier for the people and tourist, where by the people won’t have to buy imported dairy products and avail their services. My firm is not going to offer credit services as the local people and tourist will be able to avail our services on time basis where the payment will be paid at the end of the services. Location of my firm also makes it possible to provide its services to the people travelling to Bhutan and local people.
Namgay Dairy Product will be easy to run because it is not too expensive business to run. My firm believes that the services provided will be able to serve our customers to the fullest and provide them the opportunity to experience tastes of new products they have in the market after my firm is brought in life.