Business Plan

RAWAJ

INTRODUCTION

Our idea (handmade gifts shop) gives opportunity to those peoples who are skilled in producing handmade items and customers. Thus idea of RAWAJ is to establish an outlet that makes available a variety of handmade items under one roof and to provide a platform that facilitates both skilled crafts man and customers. In order to check the demand and potential customers our idea was to conduct a survey in our target markets came to know that its a good time to launch such a project and people show higher interest in it. We are going to launch it in Rawalpindi. In future in response to its scope we launch it in different cities. A wedding, the birth of a child, a new home, an important birthday. All of these are events that mark our lives forever and should be celebrated with a gift you can cherish for a lifetime. Every person is in search of attractive and innovative products for purpose of exchanging gifts. There are numerous businesses offering a variety of products for customers to fulfill Their needs. But demand for handmade gift items is substantial people like to purchase handmade items as gift because when an item is handmade, a little part of the creator of that piece goes into it. Artists put their ideas, personality, style, sweat, and tears into their work which makes that work unique. The fashion for handmade items as a gift is Evergreen. People prefer to purchase handmade stuff as it provides them with a level of individuality which is not available from market. They prefer personalize gifts on lavish items. In Punjab areas people produce handmade items, specially the girls.

BUSINESS DESCRIPTION

Our Idea of RAWAJ is to provide a large variety of innovative and RAWAJ handmade items under one roof. The name of our organization is RAWAJ which is actually an effort to provide exceptional items for special celebrations and occasions. It is basically a manufacturing as well as merchandising business in which we are going to present a wide assortment of handmade items. We have started our business as partnership business. We both partners share equally in startup capital and hence are entitled to share equally in profits. Any other need for capital will be entertained by respective bank. Point Of Uniqueness: All the things and the services we are providing may not be unique according to the range of things now days. Present businesses may be providing a Large variety of gift items But the difference is there that the things provided by us are pure handmade. RAWAJ ideas are used to turn a rubbish and useless stuff into innovative design. There is such business prevailing in our target market. This is the point of uniqueness in the particular geographic area in which our business products. A variety of handmade items are provided under roof includes:
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PRODUCTS:

Handmade Gift boxes Handmade Wedding boxes Handmade Cards Handmade Baskets Handmade Jewelry Handmade decoration pieces

LOCATION
RAWAJ has planned to acquire a shop on rent in Rabi Center, Muree Road Rawalpindi. It is situated in a commercial area of city. The main reason behind selecting this location is, it is growing area for all shops or businesses. It is very famous and best shopping mall in Rawalpindi. Address: Rabi Center first floor, Muree Road Rawalpindi. Contact: 051-792230 Website: www.Rawaj.com.pk

MANAGEMENT SUMMARY
Form of Business RAWAJ is a partnership business in which two partners are contributing toward capital and sharing the proceeds of business. It has been established on base of partnership act, 1932. Partnership Deed The partnership deed includes the basic agreement between the partner explaining their duties and liabilities. It also explains that which function will be performed by whom. Members Capital Investment 4 lack 4 lack
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Asma Ahmed Mr.Subhan

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Duties and Responsibility Duties and responsibilities of each member are assigned according to the interest and qualification of each member. Additional benefits will pay on giving extra services and performing additional work not include in the job specification. Liability Liability of both members is unlimited. Personal property will also be liable to pay the debts. All the members have the basic right to point out the steps taken by other members in the meeting and the other have to answer in reasonable manner. Decision There is a decentralized approach in decision making. Both members are free to take decision in his relevant department without the consent of other member. But descion about whole firm cant be taken without the consonant of second member.

ORGANIGATINAL HIERARCHY

Management

Finance Manager

Marketing Mnager

Supply chain manager

Operational Manager

Office Boy

Sweeper Watchman

Job Specification RAWAJ will be run by the current team: Asma Ahmed will be the in charge of production outlet where handmade items made. She also works as a designer and in charge of production outlet work with further employees.
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Marketing Manager Finance Manager Production manager Supply chain manager Office boy Sweeper

Mr.Subhan will be the in charge of RAWAJs outlet where items are sold to final consumers. He will work with the two more employees in shop. Mr.Subhan also performing duties of supply manager in production outlet, and receive material from suppliers and also purchase material for merchandise for sale.

PRODUCTION PLAN
Manufacturing Our products will be manufactured in our production outlet. There will be a separate portion behind outlet that will serve as production area. We will produce the products our self. Joint contribution will be made by all members for production process. All of girls will work directly under authority of operational manger. RAWAJ ideas for innovative products will be explored through brain storming sessions. Production process of RAWAJ involves following steps: Purchase of material and accessories For making cards and shopping bag, chart paper is essential thing. Satin ribbons, shimmering bows, Laces, glue and other material will also be needed to make glorious products. Including all these, other necessary accessories will be purchased from our regular suppliers in bulk so that cost minimization can be made. Other than above material, waste jewelry accessories will be acquired to be used as base for handwork. Production Process Cards of inspiring designs, gift boxed of various sizes and unique handmade jewelry will be made through handwork and using appropriate stuff. Dough will be needed in quantity enough for use in whole months. Once the dough is prepared, it will be kept in special greased containers. Different jewelry items will be made using moulds of various sizes. Artistic designing will be made on these items using dough f lowers. Using handwork and special techniques wax gel will be converted into candles of different designs and will be embellished using different accessories. Packing Different gift and jewelry items will be made available in striking packing. RAWAJs monogram will be printed on each items packing going to be sold at outlet. Merchandizing RAWAJ has also planned to acquire finished products from house hold artisans and to sell Them on reasonable prices for earning profit for both parties. Thus RAWAJs not only earning for itself but also serving as a platform for those innovators who want to commercialize their handmade products. Supply Chain Manager is responsible to seek and develop good relations with these suppliers.
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MARKET ANALYSIS
Industry Background The "Rawajs" is primarily engaged in the retail sale of combined lines of gifts and novelty merchandise, greeting cards, holiday decorations, and miscellaneous small arts goods. These establishments are characterized by small, single unit specialty shops, each retailing a narrow line of full-priced, high-quality merchandise.Rawaj will develop effective marketing & sales strategies by focusing on the following key areas: Prices Promotions Distribution channels Customer relations Products

Demand Point of View

Most demanded gift items are: Consumables (such as food, candy, wine, gift baskets, etc.) Clothing and/or fashion accessories (such as handbags, shoes, wallets, etc.) Jewelry and/or watches Personal care products (such as cosmetics, perfumes, bath products, etc.) Home furnishings and household operations products (such as home furnishings, decorative accents, house wares, home textiles, china, glass and tableware, small household appliances) Gif tables (such as flowers, candles, figurines, collectibles, greeting cards, stationery, crafting kits and supplies, seasonal decorations, gifts for pets and/or other popular gifttype items) Store gift certificate and/or gift of cash, by type of store. Gifts of experience (such as spa treatments, dining and restaurants, vacations, trips, travel, special events, etc. which are often presented as a gift card or gift certificate).

CUSTOMERS Who is Rawajs customer? Primarily Female, Educated, Homeowner, Middle-to-upper class 15-59 years of age. Finds "word-of-mouth" and referrals from friends and colleagues extremely significant when making decisions Influenced by a brand and reputation of the product and its seller.

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Decision criteria
Establishing a rapport and connection with the customer directly affects a business' sales. The following methods will establish such a connection: Training and Customer Needs: While training sales associates, we will emphasize the importance of the customer's needs and inform associates to be helpful and personable. Suggestion/Comment Box: A suggestion/comment box will be available to near the RAWAJs entrance. This provides RAWAJ with direct customer feedback areas of improvement or enhancements BUYING BEHAVIOUR Gifting behavior by holiday and occasion: Key characteristics of the gifting market, such as on what holidays and occasions consumers buy gifts, how many people they buy gifts for and their relationship with the gift recipient, such as spouse, child, close family member, etc. and how much they spend. This report also reveals what range of products people choose for gifts, what drives their selection of particular gifts and what drives their selection of stores to shop for gifts. Demographics of the gifting market: How many households buy gifts, how much they spend by key demographics, and the key different demographic segments within the gifts market (e.g. age, size, composition, education, etc.) Gifts market buying behavior: What are the primary characteristics of the consumers' buying behavior related to different gifts? What makes a good gift? What attributes and qualities make gifters want to buy? Where do they shop for these items; how do they decide to purchase one item over another? What is the role of brand in gifting buying behavior? What is the purchase incidence and spending on key categories of gifts? Psychographic profile and segmentation of the gifting market: The psychographic profile of gift consumers reveals their different drives and motivations in purchasing gifts. What factors are more or less important in driving gift purchasing decisions? How can gifts marketers and retailers better understand the hearts and minds of their consumers and use that insight to capture a greater share of the consumers' gifting budget? In essence we reveal "why people buy gifts. customers concerning

Competition performance analysis

COMPETITIVE STRENGTHS: Customized Services these "hand-made" services offer the customer a personal connection to the product that he/she is purchasing. This type of service is not commonly offered in today's retail marketplace.

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Printing Services the added printing products service within the gift shop is unique for a gift shop. This will enable customers to bring in personal photographs and mementos or email digital images to create greeting cards, 12-month calendars or business cards. Handmade/Handcrafted Products The handcrafted products will be designed by owners as well as outside entrepreneurs. We will showcase their crafts on consignment. This will also broaden the own product line. Brand Identity the proprietary products that we design will be distinguished from other products by brand labels. Our brand name merchandise makes up 50% of our present product line. COMPETITIVE WEAKNESS: Range of Product Line Although RAWAJ present product line is unique and high-end merchandise, the range of our products is considered small in relation to more established businesses. Yet these items are engaging and personable. Location of the Gift Shop because the area is in its developing stages of residential and commercial enterprise zones, business traffic is relatively slow. However with time, west midtown will undoubtedly generate a traffic-flow of curious residents and outside customers. SUPPLY POINT OF VIEW

Situation of current market

Pakistan gift market has transformed shopping online for beautiful floral arrangements, delicious Cake, imported Stuff Toy and many more into a fine and effortless art. From exquisite bouquets to gift baskets to flowering planters, you are sure to find the perfect expression of your message in our online Gift boutique. Pakistan gift market efficient online delivery service ships high quality gifts to more than 70 cities in Pakistan. COMPETITORS Potential Competitors Specialty gift retailers have the ability to distinguish themselves merely by the types of products and/or services that they offer and RAWAJ is no exception. GIFTCORNER GIFT CORNER funky fashion and lifestyle boutique that recently opened. A large percentage of their merchandise is designer fashion followed by a distinctive but narrow line of home accessories, candles, bath/body accents and jewelry. They have a personal shopping staff available to repeat customers who are interested in this service. Their target market is primarily affluent women. While walking through the store. Unique Unique gift shop is a more established gift shop located in Rawalpindi with four retail locations. The shop closest to RAWAJ is located in a shopping center so there is a substantial amount of
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traffic-flow. The owners of this establishment have at least 25 years of retail experience between them. They too target affluent women with an eclectic wide range of products and services.

T2 Stationary Gift Shop

T2 stationery gift shop, the most recognized shop of the three competitors is a specialty retailer whose strategy is to develop unique, proprietary branded products. Customers are encouraged to try out products for true, hands-on shopping. Their product range is vast in comparison to the other competitors. Their "brand identity" is well established and customers identify their products as personifying exceptional quality and high-value.

DISTRIBUTION & MARKETING CHANNELS Existing customers as well as potential customers will be informed about new merchandise and savings utilizing the following marketing communications channels: Direct-Mail Postcards: Advertising postcards will be mailed to various local ZIP codes and to existing clientele located out of state. Word-of-Mouth: Networking through friends, family, and business associates is an inexpensive and effective marketing tool which RAWAJ utilizes to broaden our clientele base. Advertising Literature: RAWAJ will distribute our literature to various local community businesses and establishments such as restaurants, coffee shops, book stores, and universities.

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STRENGHTS Customer oriented. Waste recourses are utilized in the best way. Huge Profit Margin. First mover advantage to provide handmade unique item in targeted market

WEAKNESES Lack of practical experience in mass production of stock. Lack of awareness among public regarding the business. Uncertainty about the business success.

OPURTUNITIEs Level of the demand of cultural items is increasing. Consumers moves from lavish items toward more personalized gifts. No Direct Competitor in market. Serving the un -served markets. People want uniqueness.

THREATS

Decreasing purchasing power of people due to political instability in the country. Threat of new entrance.

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STRATEGY AND IMPLEMENTATION STRATEGY

Through strong commitment and efficient strategic goals, RAWAJ will be first choice of customers and be recognized as a business leader. We feel very confident that the goals can be achieved. These Strategic goals include following: :Customer satisfaction Building strong customer relationships Making contracts with different stakeholders (Suppliers) Maximize the switch over Cost. Capturing Maximum Market Share

Plans To Achieve Those Goals The very first result that a customer wants is that, satisfaction and contentment from the product. Customer will visit for second time, if he was satisfied fully the first time. By providing g innovative and quality products RAWAJ can build strong relationships with customers. Keeping our suppliers with us for a long period of time is a challenging task. Contracts will be made to homeartisans to provide their products only to RAWAJ .After r building relationship with customers and suppliers; our main focus is to maximize the switch over cost of the customer. By issuing annual, semiannual and quarterly discount offers we will bind the customer to carry with us. When we are successful to retain the old customer for the maximum period of time it will be easy for RAWAJ to focus and spend more in attracting the new customers and to capture the maximum share of the market. PRICING STRATEGY Although Rawaj products are high-end and stylish, our pricing structure remains affordable and in-line with other specialty gift retailers. Our pricing structure is also based on the value the customers place on these products. PROMOTION STRATEGY RAWAJ will host several seasonal open houses offering special discounts. This promotional strategy will showcase new products and liquidate slow moving merchandise. The following illustrate the seasonal open houses: Spring: 15-20% discounts Fall: 15-20% discounts Summer: 15-20% discounts
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Annual Anniversary: 25% discounts SALES STRATEGY Staying abreast of product and market trends is also essential to increased sales for a business. RAWAJ will utilize the following methods to increase our sales: Gift Industry Trade Shows: Frequenting local and national trade shows will provide RAWAJ with most up-to-date gifting products and the customer's buying trends. Subscribing to Trade Publications: This resource will also ensure that RAWAJ product selections are current and satisfying the customer's needs. Proprietary Products: RAWAJ will continue to develop creative and stylish products that will continue to strengthen our brand positioning and company image.

VISION OF RAWAJ

To become the first choice for handmade gifts and building a lasting and beneficial relationships with customer through continuous improvement in performance.

MISSION

To Covert the Creativity into Reality in Hand.

OBJECTIVES Main objective of RAWAJ is to glorify the different occasions of our customers by providing exclusive and quality products. Our modish style reflects a sense of taste that urges the customer to express his or her feelings by selecting a gift from a variety of innovative product for their dear ones .Commitment To Well-Being We believe well-being is the cornerstone of personal and professional growth. Without personal and professional well-being our mission cannot be achieved. Commitment To The Team Objective. We believe in total commitment to the team. The team objective is a guide for us to follow in our service to our clients, support of each other, and team growth.
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.Commitment To Goal Attainment We believe every individual should have personal and economic goals. A joint effort will be put forward to identify and achieve our long-term objectives. .Commitment To Our Time Management System We believe our time management system should be utilized in all business activities to provide maximum efficiency and effectiveness for our customers. We will move towards managing our time and setting specific goals within that time. Commitment To Excellence In All We Do: Our philosophy is to achieve excellence in all that we do. All efforts of our team are directed toward achievement of maximum quality.

ELABORATIVE STRATEGY

MARKETING MIX:
The most important plan for a new starting venture is a marketing plan because without the marketing plan, a business can never exist. The marketing is a main portion, and the success of any venture heavily relies on its market strategies.RAWAJ is going to make its customers aware through efficient marketing plan that we value our customer at each and every point. Through effective marketing strategies it will be realized to customers that if they want to add seven colors of rainbow in the precious moments of their life then they must have the spell Bound charm of RAWAJ. "RAWAJ marketing efforts focus on making its customers realize That We are offering variety of imaginative hand-made articles that can embellish their special movements our ideas are RAWAJ and innovative that is what others are lacking. We are going to establish a new trend in that society by giving variety of handmade items under one roof.

Product:
A list of magnificent products of RAWAJ involves following product lines: Handmade Cards, Handmade Gift boxes, , Handmade Shopping Bags, Handmade Jewelry and Handmade decoration pieces. Handmade Cards Handmade greeting cards in a variety of styles and sizes are offered for special occasions. Unique ideas are used to embellish the cards for making special movements more special. Birthday cards, wedding cards, anniversaries card, friendship cards and beautiful cards for many other special events are offered.
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Handmade Shopping Bags Our talented and RAWAJ team members have poured their heart out to create the exotic collection of handmade shopping bags. These handmade paper shopping bags are made with durable and strong card papers that combine both utility and aesthetics. All these handmade paper bags are designed with beautiful papers and meet the demands of diverse client.

Handmade Decoration Pieces Different decoration pieces ornamented with beautiful work of handmade dough f lowers to decorate the houses and even for offices, are also included in RAWAJs offerings.

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Handmade Jewelry Flashy & filled with stylish & elegance designs, different items of jewelry are offered.Rings,ear rings, bangles and neck laces are included in offered jewelry item. All these items are manufactured using different moulds and dough f lowers.

Handmade Gift boxes

PRICE
Customers decision to purchase a product is greatly in luenced by Price tag placed on it.RAWAJ has assigned reasonable and justified prices of its products which may realize the customers that they have made their moments cherished in a unique way in very cheap prices. Pricing Objectives RAWAJ is a new business in market with unique and innovative ideas. It wants to have high growth rate hence it has to set that price for its product which gives maximum possible profits I n the initial couple of years.RIWAJs handmade products are more expensive than those from
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factory assembly line, but, for very good reasons. The extra time, effort, passion and expertise that goes into its handmade products are what make them worth the extra price to buyers. PRICING STRATEGIES In pricing, RAWAJ is focusing in the following strategies: o Product Bundle Pricing In order to move stock that is kept as unsold inventory, RAWAJ will use Product bundle pricing strategy. It will combine several products that have left behind in stock in the one package and will offer them on reduced rates so that potential loss of unsold inventory can be avoided. o Value Based Strategy For the pricing of products, RAWAJ is following the value based strategy. In order to cover up the cost and to gain maximum possible profit, RAWAJ has decided to take 40% markup on cost price of each product. Such high rate of mark up is set on base of effective value of the customer for handmade items.

Items Handmade Greeting cards \Handmade Gift boxes

Price Range 150-200 100-500

Handmade Shopper bags 100-150 Handmade Decoration pieces 300-1000 Handmade jewelry 500-2000 PLACE
RAWAJ has planned to acquire a shop on rent in Rabi Center, Muree Road Rawalpindi. It is situated in a commercial area of city. The main reason behind selecting this location is, it is growing area for all shops or businesses. It is very famous and best shopping mall in Rawalpindi. Address: Rabi Center first floor, Muree Road Rawalpindi. Contact: 051-792230 Website: www.Rawaj.com.pk
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DISTRIBUTION CHANNELS Initially RAWAJ is operating only from one outlet, so it doesnt have any complicated distribution channel right now. RAWAJ is mainly using the following approaches for distribution: Direct Selling RAWAJ will directly sell its products to target consumers. First it takes the raw material from the suppliers. Using that raw material variety of innovative and appealing products will be produced on the outlet of it by its skilled staff. These products are ld to customer when he/she visits the outlet. In direct selling following model is used by RAWAJ.

Suppliers

REWAJ

Consumer

Courier Service: RAWAJ will so conduct business online. Due to advancement in technology and rapid adaptability of internet it has been crucial for it to expand its business activities over internet. Online orders in response of effective electronic advertisement will be received and shipment of these orders will be made through Courier Company.RIWAJ has following model for online trading:

Online order
Suppliers End co

Shipment

End consumer

Onlie Receipt

PROMOTION
RAWAJ will use Marketing communication strategy for promotion of its products. This Strategy involves promoting heavily to potential customers which will create a demand that will pull the products through the distribution channels. A handsome amount is set aside from financial resources for heavy promotion of business in starting years for promotional activities unique and corporate colors will be used in all means communications. Following promotional tools will be used to build Brand image of RAWAJ in mind of customer. ADVERTISING
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Brochure Brochures describing product specifications of RAWAJ will be designed. RAWAJs offering along with its unique logo will be printed on it. These brochures will be distributed door to door with help of local news papers including. Press Advertisement: Press advertisements will be released in newspapers to which potential customer target market have easy access. Newspapers in which ads will be given are mentioned below along their estimated cost: Jang Nawai-waqt Express Internet marketing Today most effective way of advertisement is through internet. RAWAJ developed its own Website at which products are published and online orders are taken. Other than developing its own website, RAWAJ to prompts business through social networking sites. Recently there is a great trend of public to move towards these sites to establish social networks. Following are some a web pout which RAWAJ has decided to promote business by giving business ads.eb Poi Transport advertising: RAWAJ logo along its message will be promoted through transport advertising. Such medium for promotion is selected for conveying message to far areas of target market. Broadcast Advertisement: These days use of radio has been increased in young generation. In order to convey business message to them, RAWAJ has decided to give an ad on FM 105.Other than radio Advertisement ads will also be given on local cable channels. Exhibition: For bringing our offerings into knowledge of potential customers, RAWAJ has decided to participate in Exhibitions which are managed by chamber of Commerce for support of SMEs.

SEGMENTATION
RAWAJs target segment are all the people of Rawalpindi whole over creativity, which includes upper, middle and lower middle class. Along with this RAWAJ has segmented its target segment into the following category: Geographical Segmentation RAWAJ is a start up business; therefore it has geographically segmented its target market. This geographical region is Rawalpindi.
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Psychological Segmentation Psychologically targeting, RAWAJ is concentrating its focus on Elite class, Middle class and Lower Middle class.

POSITIONONG

We will position our business as a high quality and innovative business. Provide more value to customers and give them the opportunity of handmade items with high quality and good customer services.

Convert Creativity into Reality in Hand!

We will position our product against the competitor and gain a competitive advantage through better quality and efficient promotion and sale a product on reasonable price.

FINANCIAL PLAN
RAWAJ being a new business needs a high capital investment to recover its expenses like advertisement, salaries,along with cost of production. Thus RAWAJ is investing Rs.8, 00000 as a initial capital investment. Sources of Funds Rawajs has 2 active partners, who fulfill the whole capital requirements to meet its startup cost. Capital structure of RAWAJ includes only Equity. No debt is include to raise funds because it has an extra burden of expense as interest, which result lower in profit. Equity Structure Members Capital Investment 4 lack 4 lack

Asma Ahmed Mr.Subhan

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To run this newly started gift shop a strong financial planning is required. And then evaluate the performance of business o that basis. Here is a projected sales forecast for RAWAJs product that it offering in market. Item Name Handmade Greeting cards Handmade jewelry Handmade Decoration pieces Handmade Gift boxes Handmade shopper bags Total Sales Total Sales of year (Rs.) 100,000 300,000 200,000 150,000 100,000 765000

PRO-FORMA INCOME STATEMENT Following is Rawajs projected income statement based on the projected operating expenses and profits. Projected net income calculated from projected revenue less projected expenses.

RAWAJ INCOME STATEMENT For the month DEC, 2013

Revenues:
Sales 850,000

Expenses:
Rent expense Insurance expense Depreciation expense Supplies expense Operating expense Advertisement expense Salaries expense Courier services expense Income tax expense 250000 5000 3000 50,000 250,000 50,000 138,000 18,000 20,000

Net profit

66000
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PRO-FORMA BALANCE SHEET

A summary of a Rawajs financial position at the end of the year 2013 show projected assets, liabilities and net worth of it.Pro-forma balance sheet of Rawajs is as follows:

RAWAJ BALANCE SHEET As on 31st DEC, 2013 Assets

Cash Furniture Purchases Equipments Supplies Computer Inventory Balance

Amount
79,000 62,000 350,000 1,00,000 150,000 15,000 110,000 866,000

Liabilities+ owners Equity

Asma Ahmed Mr.Subhan Net profit

Amount
400,000 400,000 66000

866,000

RISK ANAYLASIS
Risk Management: The objective of risk management is to reduce different risks related to business. It may refer to numerous types of threats caused by environment, technology, humans, organizations and politics. Critical Risks Analysis For startup business there are many risks involved that are caused by different factors. The risks which are analyzed by Creative are as follows: Management Risks Marketing Risks Operational Risk Financial Risk Management Risk: In this risk we realize that there may be any dispute in the management team due to any unforeseen reasons which may result to terminate any of the members.
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Remedy: In this case when any of the management team member leaves the firm she/he is not entitled to use the name of the firm. She cannot start the same business with any other name. Such risks attempted to be controlled by including exclusive clauses in partnership deed. Marketing Risk: In case of marketing we realize that there may be any fault in our marketing plan due to which business can scuff. Remedy: For the backup of this risk we have different marketing plans with f flexibility, as if in any case plan. A does not work the plan B will be executed. Operational Risk: There may be a risk which can disturb the operations of the business such as production. There may be load shedding problem etc. Remedy: For minimizing this risk we have adopted proactive measures by having firms own now generator. Financial Risk: We realize that in case of termination of any member there is a risk of finance that she may take her/his equity away which causes the business to suffer. Moreover startup capital may be proved insufficient to cope with un expectancies. Remedy: To avoid this risk we have made certain clauses in our agreements that if any member decides to Leave the firm she/he will not take her equity out of the business immediately. The time period to pay back the equity will be minimum 6 months. To meet unexpected financial needs, Rawajs has asked for various sponsors. EXIT STRATEGY Rawajs after analyzing every risk and exit ways of the business, has devised an exit strategy incase our idea of introducing handmade items does not work. The exit strategies of Creative are as follow: Legal documents of partnership will be signed by the partners that partnership will not be resolved until 3 years. After five years if any partner wants to exit then he/she has to inform to the organization at least 6 months before. .If any partner exits from the business, she/he will get his or her share after 6 months. In case of losses every partner will be just liable for her share in organization. In case of winding up the business amount received from sale of asset will be divided among partners equally.

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REFRENCES

http://www.startupsmart.com.au/how-to-start-a/gift-shop/201108163583.html http://www.enotes.com/handbook-business-plans/gift-store-business-plan

http://www.indexmundi.com/pakistan/gdp_real _growth_rate.html http://www.ranchodelarte.com/articles/why-handmade-gifts-rock www.Eventive.com

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