Business Plan- Smart Household Appliances

Business Plan- Smart Household Appliances

Executive Summary

This business plan is prepared for an investment with a start-up nature based, i.e. Smart Household Appliances in America, New York. Hence the plan considers all factors from an initial phase for effective planning. (Carmichael David, 2005, pp.40-45) and (Haugan Gregory, 2002, pp.5-7). If the investors have already held some shares in the household appliances business sector, additional values may be added into this plan.

Business Profile

Vision

By devoting effort into the development and promotion of smart household appliances, we aim to transform people's lifestyle so that daily life can become more convenient, productive and enjoyable. We also aim to provide our customers with the best user experience that nowhere else can offer.

Corporate Objectives

The corporate objectives of the company are to become a household name as a competitor of other appliances making companies in New York and globally. Moreover, the company aims to modify the products worldwide due to its quality. In addition to all the other objectives of the company are to become, the number one brand in New York in the products in order to satisfy the wants and preferences of the customers.

Short-term objectives

There is a wide product range of household appliances, from washing machine, refrigerator to dishwasher, oven and microwave etc. As a start-up, our short-term objective in a three-year time period to focus on developing the most promising household appliances that will shine in the market. These are smart washing machine and smart refrigerator.

Smart washing machine

The biggest hassle of doing laundry is probably the physical labour required

to load the machine at the start and do all the sorting after drying. In the short-term development period, we aim to develop a washing machine which is equipped with automatic loading function. A container platform with a weight sensor in its inner bottom is designed to locate at one side of the washing machine. The container accumulates the clothes being put in everyday and when the sensor detects a certain amount of weight predetermined by the user, it will automatically load itself and put in washing powder to start doing the laundry.

Smart refrigerator

The smart refrigerator is capable of keeping track of its contents. There is a touch-screen device located outside on the refrigerator with an embedded grocery database. What it only takes the user is a few seconds to register the groceries before loading them into the refrigerator and erase their names on the homepage of the touch screen after using them up. The device also allows the user to add in customised new items to the database. The convenience of this record setup can be mostly reflected when the user is shopping at the supermarket that the home stock can be easily checked via mobile devices, which are connected to the touch-screen device on the refrigerator. A recommended recipe can also be flashed on screen to help the user prepare for a nice dinner.

Medium-term objectives

Apart from continuously developing our smart household appliances, another medium-term ...