Work Summary: Scoping Study & Business Plan Development: Focusing on specific Handicrafts and other Micro-Enterprise Products
A national development organization in partnership with a Danish humanitarian non-governmental organization wanted to prepare a detailed business plan focusing on quality improvement and market promotion/growth of handicrafts and other micro-enterprise products (particularly Shatoranji, Karchupi, agriculture/seeds and jute made products) for establishing business as more inclusive, “branded” and profitable one. The client sought Inspira’s services to analyze their existing business model to identify weakness/constraints, strengths, potentials, opportunities, challenges and find out specific areas of improvement. They also wanted to find opportunities and detail strategies for promoting the products through e-commerce or online business along with a financial business plan for next 5-year period projecting the investment and return.
Inspira in close association with the client undertook the study under three key blocks. Block 1 included Mapping of Current Business Process, Value Chain & SWOT analyses where Inspira conducted observational study by taking systematic walk, SGD (Systematic Group Discussion), FGDs and KIIs. Block 2 of our work scope included benchmarking and opportunity mapping where we identified a mix of competitors and conducted KIIs with Brand Managers/Outlet Managers/Chief Decision Maker along with management personnel of e-commerce channels exclusively selling fashion/handicrafts. Block 3 covered Demand Potential & Brand Development Strategies of the products where we conducted 200 customer survey across 8 divisional cities to identified potential B2C cohort and in depth interviews with NGOs, Telecom Sector, Banking Sector, Real Estate Sector Brands to map B2B buyer pool who usually buy large scale of handicraft items.
Inspira delivered a fully validated Business plan which helped the client to effectively update their value chain and solve the beuracratic problems that arised while running the business. It also helped the client to run the business entity by ensuring the appropriate return fo the beneficiaries. It also helped the client to update their products in line with the price tags, designs and sales channel improving in total quality improvement.