abinakey business plan(new)

abinakeyOpening new doors in the world of Security

abinakey

“Opening new doors in the world of security”

BUSINESS PLAN

1Jack, Erin, Molly & Abigail


CONTENTS

o Executive summary

3o Our idea

4o The market

5o Our sales strategy

6o Our team structure

7o Our operations

8o The risks

9o Our financial forecasts

10


3 4 5 6 7 8 910


Executive SummaryHere at Abinakey, our main goal is to abolish the need for multiple keys and increase the security of your home and business. The Abinakey will allow for keyless entry to your home, your business and other places that are part of your day to day life. It will be available for purchase from big name companies, and can be easily installed. Features of the Abinakey will include:

1 key card that can be used to access any door you are entitled to A smartphone application and website that compliments the key A security program to issue reminders and warnings about your locks

Our company will outsource manufacturers for the production of the card, sensor and other accessories. To initially launch our product, we will establish links with new housing companies and new student accommodation. We then aim to make the Abinakey available in many major big brand stores to allow customers to install the Abinakey themselves. We will expand its uses over time. For example, it will be available for access into lockers (including school lockers), first class airport lounges, cars, hotels and sport gyms. The possibilities are endless.



Our Idea

How it works

The Abinakey sensor will be available for purchase from big name companies. It will replace the current lock on your door and act as new, high security, modern lock. The Abinakey will be easy to install in your own home and a free installation team will be offered for your home and larger businesses.

Security

The Abinakey will increase the security of your home and business. Unlike normal keys, the Abinakey can’t be used to access your home if stolen, as we offer a disabling service. The Abinakey has the ability to be controlled from our HQ remotely via the app.

The App

The Abinakey will come with an application designed especially to assist it. The app will allow for the Abinakey to be disabled, activated and for a new lock to be added to it. The app can also be accessed via a computer, and will require the customer to log into their account. From the app, the customer can then request any of the listed features. The request will be processed by our customer service experts to ensure these changes can be made by the card holder, or if the request needs to be checked with another business. The app will also provide a notification option that can warn customers of doors left open, low batteries, broken locks and when a card is used.

Accessories

The Abinakey will come with multiple accessories such as phone cases that can be purchased at an extra cost to further enhance the Abinakey experience and increase profits.



The MarketOur target market is people who feel they would benefit from increased security. Abinakey allows everyday families to protect their home in a more secure way. Efficiency in our customers’ everyday lives will be drastically improved, as not only will the Abinakey allow access into homes, but it can also be connected to your car or any other lock used. We have chosen this market, as our research has shown there is a gap in the market for an increased security product that is affordable for the general public.

After our brand and product has been developed, we at Abinakey plan to make our product available to large organisations. This will allow businesses to install the Abinakey security system into their whole building, so that every room accessed within the building can be recorded and so that the overall security is improved. We plan to go into this market because our service means that our security system can be installed into the whole business.



Our Sales StrategyThe Abinakey will be available in many major big brand stores. For example, we plan to secure deals with Amazon and John Lewis.

If successful, we plan to release the Abinakey onto the market by March 2016. Our ultimate aim is to completely abolish the need for multiple keys. After the Abinakey becomes popular in the market, we will expand its uses. For example, it will be available for access into lockers (including school lockers), first class airport lounges, and sport gyms. The possibilities are endless.

Not only will the Abinakey be a great investment, but the product is affordable. Our sales strategy for the first year of launch is to target new housing and student accommodation. We plan to install the Abinakey sensors on the doors of these new buildings, in partnership with home construction organisations across the country. This should introduce our product into the market and allow the public to view how efficient and secure the abinakey is.



Our Team StructureHere at Abinakey, our workforce is organised into specialised, successful teams whose aims are to achieve targets as efficiently as possible.

Managing Team

This team directs the business as a whole, managing all departments and existing projects.

Finance Team

The Finance team deals with all business transactions, as well as surveying the business’s incomes and expenses, and henceforth predicting the annual profit.

Marketing Team

The Marketing team will be responsible for promoting Abinakey using social media and other various forms of advertising.

Customer Service Team

Any problem faced by the customer, from faulty cards to issues with our application, can be addressed by a member of our customer service team. They can be contacted by telephone or email, and we also offer an online chat service within our website and app.

Installation and Repair Team

The customer has the option of installing the Abinakey sensors themselves; however we offer a free installation in which one of our teams will come to the customer’s home or business at their convenience. This team’s expert knowledge also deals with identified faults.

Our Operations7

Jack, Erin, Molly & Abigail


Manufacturing of Cards & Sensors

This production for both the key cards and key sensors will be outsourced to a manufacturing company. Flow production will be used which is the fastest, cheapest and most efficient way of production. This will result in a card and sensor we can produce at low costs and sell on to customers for an affordable price and still make a profit.

Consumer Price: £74.99 (1 sensor & 2 cards)*Discounts will be offered for large organisations

Design of app and website

A software development team will be outsourced for the design and implementation of the application and website. These must allow the customer to make an account that holds information about the key card. A central server will also be required to store the information about each individual key and lock. This information will also be encrypted.

*Free with Card & Sensor

Manufacturing of Accessories

The Abinakey will have multiple accessories that can be purchased to enhance the Abinakey experience. The phone cases will be purchased from another company and will allow for the Abinakey to be stored and easily accessed from within the phone case.

Consumer Price: £5.99 (Available in range of Colours)*Discounts will be offered for large organisations

The RisksSecurity



We have identified the risk that the Abinakey could possibly be lost or stolen, and then used to break and enter into your property. To prevent this, we will offer a disabling feature as part of the application and website, available to use 24 hours a day. This will allow customers to prevent their home being broken in to, in the unfortunate circumstance of your key card falling into the wrong hands.

Sales

In the unlikely event that the Abinakey does not sell to our expectations, we have established that the business would increase online advertisement in order to further promote our product. However, we feel this is unlikely as we plan to spend a large amount of our funds on advertising the Abinakey at its initial launch, for example, the installation of sensors on the doors of newly built homes.

Manufacturing

If our outsourced manufacturing companies come into some financial difficulty and are no longer able to produce our products, we have established some backup contacts capable of taking over the production.

Our Financial ForecastsTo initially launch our product, we will establish links with new housing companies in and around Edinburgh. These would include:

Mactaggert & Mickel Homes



o Houses in the City centre, Midlothian & Barntono 3,4 & 5 bedroom family detached homes

Unite Student accommodation o Due to spend £38 million in Edinburgh at St Leonardo 1. 8 acres of land

Persimmono Dalkeith, Bonnyrigg, Musselburgh and Penicuik o 3,4 & 5 bedroom houses within 1 mile of the city centre

By targeting these new houses and student accommodation in our first year, Abinakey can make an initial profit to kick-start our sales. After the first year installing Abinakey in new homes, we hope to further increase the range of our customers. The Abinakey will become better known and will allow home owners to see the product in use and gain confidence in our product. The Abinakey will then become more common in older houses replacing the old, less secure locks.

Further into the future, we aim to expand into businesses to further our goal of abolishing the need for multiple keys. The development of the product into first class airport lounges, cars, hotels, sports gyms and various lockers will depend on the speed at which the Abinakey advances.


abinakey business plan(new)

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