Woodo business plan

Prepared by: Ayush Bisht

2014 - 2019
Ratan
2K14BM413

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ACKNOWLEDGEMENT

On the very onset of this report I would like to extend my sincere and heartfelt obligation
towards all personages who have helped me in this endeavor.
Without their active guidance, help, cooperation and encouragement I would have not made
headway in this startup.
I am ineffably indebted to Mr. Virender Khanna and Dr. Bhavna Bajaj for conscientious and
encouragement to accomplish this startup.
Every work accomplished is a pleasure, a sense of satisfaction. Let me also use this wonderful
opportunity to thank our team members who have contributed to this project with their
invaluable opinions and suggestions which has gone a long way in soothing our rough edges as
teammate.
I also acknowledge with a deep sense of reverence, my gratitude towards my parents and
members of my family, who has always supported me morally.
I also extend my gratitude to FDDI for giving me such an opportunity.
At last but not the least I express my gratitude towards my friends who directly or indirectly
helped me.
Thanking you
Ayush Bisht

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Table of contents
I.

INTRODUCTION.4

II.

EXECUTIVE SUMMARY...4

III.

OBJECTIVES5

IV.

MISSION AND VISION...5

V.

KEYS TO SUCCESS....6

VI.

START-UP COSTS...6

VII.

STRATEGY.......7

VIII.

PRODUCTS AND SERVICES.7

IX.

BUSINESS MODEL......8

X.

COMPETITIVE LANDSCAPE.......8

XI.

MARKET ANALYSIS SUMMARY......10

XII.

MARKET SEGMENTATION...11

XIII.

STRATEGY AND IMPLEMENTATION SUMMARY......13

XIV.

SWOT ANALYSIS......13

XV.

MILESTONES.....14

XVI.

MARKETING STRATEGY...15

XVII.

PRICING STRATEGY...16

XVIII.

SOURCING STRATEGY...16

XIX.

FINANCIAL PLAN.........17

1.0 INTRODUCTION
Woodo is a well-being discovery application that empowers people to delve into and explore the
best suited key to unlock their euphoria. Woodo is committed to make Earth a planet of
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happiness junkies by assisting you in finding right service professionals for any requirement
related to beauty, health and wellness.
Woodo as a team is devoted to unlocking the secrets and sanctums of health, wellness and
beauty. Enjoy power of choice, alternatives and comparisons through Woodo as we provide you
with services that are superior and wider in range

2.0 EXECUTIVE SUMMARY

Woodo is a wellness discovery application which aggregates top notched salons, spas, gyms,
aerobics, dermatology, panchkarma centers of Delhi & NCR region and acts like their marketing
agent. We are committed to bring business for our clients by assisting consumers in finding right
service professionals for any requirement related to beauty, health and wellness.
Problem
Lack of customized marketing applications for businesses in beauty health and wellness sector in
tandem with lack of exploratory option for happiness junkies providing all the beforehand
information that a customer should have before getting acquainted with service centers
Solution
Woodo is not only a directory but a marketing application which provides a platform to all the
businesses in beauty health and wellness sectors to communicate whatever they wish to do
through woodo to their customers and in turn empowers customers to delve into and explore the
best suited key among various options to unlock their euphoria.
For businesses
Woodo acts like their marketing agent which make sure that their USPs are promulgated and
highlighted beyond their geographical reach as well. It provides them access to 10,000
prospective customers who are looking for services related to beauty health and wellness. Woodo
in its application and website handouts an exclusive customized webpage such that a virtual shop
is established online which promotes their business activities and consequently increase their
client base.

For customers
Customers enjoy power of choice, alternatives and comparisons through Woodo as we provide
them with services that are superior and wider in range. We hand out all the information that a
customer should know beforehand approaching a service centers. We assist them in making best
suited choice by providing them reviews, Woodo blog, a blog by Woodo aids them in bursting
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myths and create awareness about services that are novice and tries to answer their queries
regarding them so that we can do our bit to make Earth a planet of happiness junkies by assisting
people in finding right service professionals for any requirement related to beauty, health and
wellness.

3.0 OBJECTIVES
Short term goals and objectives
1. Launch a mobile application.
2. Increase business of enrolled clients by 10-15%
3. Enroll 500 more clients within 3 more months simultaneously expanding Woodo.
4. Woodo Facebook page to have access to 3000 people.

4.0 MISSION AND VISION

Mission Statement
Our mission of Let the beauty of what you love, woo you. Is to provide consumers the best
services that enhance their physical appearance and mental relaxation.
Vision Statement
Our vision is to build a strong market share and reach a presence across India

5.0 KEYS TO SUCCESS

Our keys to success are-

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Customer services and satisfaction-the success will directly be linked to our ability of
satisfying the customer.
Our passionate team who worked together to bring this idea into execution.
Our working capability, selling skills, our data collection.
Mindset - we should have a successful mindset to achieve success. The right mindset include
being confident, staying focused, keeping learning and trying. We all had a successful mindset.
Building relationships- When we build relations, we leverage on other peoples resources and
experience, which gives a lot of strength to our business and helps our business grow.
Our commitment to continuous improvement and total quality service.

6.0 START-UP COSTS

23rd march 2015 to 24th July 2015
Total 100 working days out of 121 days during this period
Website domain 511(www.woodo.net)
Hosting 1,300
Visiting Cards 2250 (15*150 each)
Travelling expense to Noida FDDI 15,400 for first 15 days out of which 11 were actual
working days. In total for 14 people as per 100 per day
Daily visiting expense to Businesses 200 per person each day.
Initial 15 days it was 200*13= 2600 multiply 15 days = 39,000
After 15 days we were 7 people left
Cost of 7 people for daily visiting to Businesses for the next 70 days
Cost was 1400 each day (7*200) and multiply by 70 working days = 98,000.
Total cost = 1,56,461

7.0 STRATEGY

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Our strategy is based on delivering strong value proposition in niche market .We are trying to
build relationship with service provider. Our strategy is to provide best service to customers and
also to keep various offers which lead to benefit of service provider as well as customers.
We are building strong marketing infrastructure so that we can reach to more and more people
and even trying to increase our service provider by visiting various places and convincing them
on our idea.

8.0 PRODUCTS AND SERVICES

Woodo will be launched as a mobile application as well as a website. We will empower people to
choose among various service centers enlisted with Woodo and in turn provides business with a
number of prospective customers who are looking for the mentioned services online.
Woodo caters to

Salons
Spas
Dermatologists
Dentists
Gyms
Aerobics
Yoga
Tattoo artists
And many more

Our service is to increase customer base and footfalls for the above mentioned service centers by
marketing each outlet exclusively and find a market share for each of them. We ensure an
increase of 10-15% in customer base of them by the end of next 6 months.
It is the most important function of Woodo to make sure that USPs of our clients are promulgated
to the areas beyond their geographical reach as well. We provide solution to their Marketing
vows by acting like their extending arms as online Marketing agents.
Woodo works on the principle of quality and ensure that only quality salons accredited by our
expert panel are listed on it and Woodo vouch for their services. Woodo envisage a trust driven
relation with its consumers.
Woodo blog, which is an essential part of woodo is a blog about beauty health and wellness,
creating awareness, reviews of various procedure and bursting of myths.

9.0 BUSINESS MODEL

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Woodo is a wellness discovery application which is roughly a replica of Zomato in beauty health
and wellness industry. Businesses will get registered with Woodo for their marketing and Woodo
will get attached to the standard quality outlets because Woodo believes in serving quality to its
customer and give them immense satisfaction and Woodo is committed to increase their
customer base by a significant number.
Woodo is not only a directory but a marketing application in which a customer will find all the
possible information about a service center they are seeking services from.
Customers will look for the salons in an area and will get a list of all the best suited service
outlets according to their customized search options and information provided by Woodo will
assist them in choosing a right salon for them.

10.0 COMPETITIVE LANDSCAPE

Though it is a road less travelled but recently many players are knocking on the door of this
sector as well which justify that we are on a right track. Woodo sees its competitors in two
categories directory competitors and marketing competitors.

DIRECTORY COMPETITORS
These are the players that offers concise information of a service center but do not promote it.
JUSTDIAL - It is a well-established name in the classifieds but offers a basket of services and
thus is not our direct competitor.
ASKLAILA - Quite similar to the former it just provides contact details of the service center and
customers find it difficult to reach a decision with this information.
ZIFFI - Founded in year 2010 as doc4sure it is quite operational in Bengaluru, Hyderabad,
Mumbai and has entered Delhi in the last year.
PURPLLE-It deals with products as well as services and is quite operational in various cities
and has nearly 14,000 listed salons and spas.

MARKETING COMPETITORS known for its product business.

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These are the players that actively promotes businesses of their clients and promotes their
services to the customers.
MAKEOVERZ-It provides various information about a service center but is not actively
promoting them.
VYOMO-It is a strong competitor funded by YUVICAN but is yet to kick start its operations.
LABHLE-It caters to gyms and fitness only.
MYDALA-This player is quite operational in Delhi region and provides ample of information
about a service center.

11.0 MARKET ANALYSIS SUMMARY

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"We would like to support empowerment of millions of beauty professionals and help them
improve their lives,"
Woodo aims to create a complete solution for beauty professionals to manage and grow their
business through a smartphone, and customers to book appointments instantly through their
mobile devices.
According to a KPMG report released in 2014, the beauty and wellness industry in India would
nearly double to Rs.80,370 crore by FY18 from Rs.41,224 crore in FY13.
In the next two years, woodo expects to bring more than 10 lakh stylists on the platform and
improve their earnings by allowing millions of customers to instantly access and book a hassle
free salon and spa experience.

12.0 MARKET SEGMENTATION

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Gender segmentation

Male

Female

Age segmentation

Under 18

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18 to 29

30 to 45

46 to 55

Over 55

Frequency of visits
40%

27%

29%

22%
22%

men

19%

women

26%

13%

1 to 3

4 to 6

6 to 10

>10

Length of visits
63%

38%

men

43%
women

31%
17%
6%

<30

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30 to 60

Category 3

13.0 STRATEGY AND IMPLEMENTATION SUMMARY

Our strategy is based on delivering a strong customer value proposition in masses as well as in
niche market. We are looking to offer the Delhi-NCR region a new dimensions of customer
satisfaction where they will be able to choose not just the best but the best which is more feasible
to them.
We are building our marketing infrastructure so that we can eventually reach more customers
with the same services in a standardized way. We focus on satisfying the needs of middle-toupper class.
We intend to use various forms of marketing communication as an efficient way to reach our
target market and raise their awareness of Woodo, and their discovering application and services.
In addition, Woodo will use effective advertising tools to promote the business. There are many
traditional as well as new innovative methods which will be used to advertise the services
Adequate funding has been accounted for when projecting the promotion expenses. We intend to
spend the marketing quota in the most cost-effective way. Therefore, many other advertising
options will be evaluated during the project implementation, to make sure that we achieve best
results.

14.0 SWOT ANALYSIS

The SWOT analysis provides us with an excellent opportunity to examine and evaluate the
internal strengths and weaknesses of Woodo It also allow us to focus on the external
opportunities presented by the business environment as well as potential threats.
Next sections explain major strengths, weaknesses, opportunities, and threats that we should be
aware of.

14.1 STRENGTHS
Woodo aims at achieving quality in terms of deciding marketing strategies for its clients.
Strong business ties with clients
Provides wholesome information about an outlet to its end users.
Credibility is greater due to presence of woodo scale and its own rating mechanisms.
Positive feedback from market

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14.2 WEAKNESSES
Strengths are valuable, but it is useful to realize the weaknesses. We have identified some of our
weaknesses:

Startup challenges
Ambiguity in strategy
Number of clients are low

14.3 OPPORTUNITIES
Woodo strengths and the awareness of its weaknesses will help it capitalize on emerging
opportunities. These opportunities include, but are not limited to:
a) Growing target customers in beauty health and wellness sectors
b) Relatively new space
c) No big player present

14.4 THREATS
Threats that we should be aware of include:
a)
b)
c)
d)

too many small players waiting to strike it big

almost all competitors are well funded
lower inclination of customers to experiment
services are not frequently required

15.0 MILESTONES

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Woodo had 1000 likes on Facebook within 2 months of its debut on Facebook
Woodo already is a family of 600 in terms of its customers
Woodo counts 10 chains of leading outlets in Delhi as its customers

16.0 MARKETING STRATEGY

Marketing Strategy
The marketing strategy of Woodo emphasizes on creating and developing a corporate identity
that clearly defines our market in terms that benefit customers.

WORD OF MOUTH-experience will give rise to more experiences when Woodos

magic will start a chain reaction of appreciation.

PROMOTIONAL EVENTS-college events will be scheduled to create awareness about

our product woodo app in our target market

SOCIAL MEDIA CAMPAIGN-campaigns on twitter Facebook and Instagram are

already active and operational to popularize the app. Moreover we are coming up with a
woodo blog to facilitate campaigning.

BIG LAUNCH-to generate interest and create hype around the application.

APP STORE OPTIMISATION-we have to make everything you can so users find you
easily within the mobile app stores.

QUALITY AND QUANTITY- We need to keep on updating your app to make it better.

Sometimes it will mean more features. Sometimes it will mean focusing on a feature that
people liked the best.

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17.0 PRICING STRATEGY

The customers who avail beauty and wellness services are especially sensitive to service value.
Woodo must ensure that price and service are perceived to be a good value to our customers. The
online presence will be offered at a reasonable price, which will kept as lowest in the market as
possible. In the e-commerce, one message rings true: other competitor can always beat you on
price.
Therefore, our pricing strategy will be competitive within the various package range, but will not
rely on the selling price to overshadow other advantages of doing business with our company,
such as a diverse line of premium services, that are readily available, reasonably priced, and
backed by service excellence.
In addition, we recognize that price flexibility is critical to our success. We are prepared to offer
discounts and allowances, sales promotion prices, and to reduce the price over limited periods of
time during the slow-sales periods, in order to increase our operating capacity usage, and reduce
or eliminate idle capacity and subsequent losses.
There will be a range of different packages which will provide different verticals to our direct
customers in terms of listing ranks, ratings, online marketing etc.
The price range for different packages which is decided yet ranges from
Rs.1200 to Rs.12000 per year

18.0 SOURCING STRATEGY

The web designing, development, website maintenance, would be mostly outsourced.
Many web designing firms and freelancers would be consulted to figure out the best possible
methods to create an application which suits the vision and mission of Woodo.

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19.0 FINANCIAL PLAN

As Woodo is an online business, it has very less initiation cost and maintenance cost. We have
calculated the initial cost that the business may face taking into consideration the following
expenses:
Woodo will be a premium listing web portal, and we plan to charge every business a small
amount to be listed on Woodo.
This cost will be determined taking into consideration many factors such as promotional
campaigns or server costs, etc.
On top of that we will provide special services like coupons and offers that will benefit both the
business (sales) and customers (profit). Of these coupons and offers we will charge the business
a small percentage of the discount.

Distribution of cost

Let us assume that a seller is offering services at a 15% discount. So out of this 15% woodo will
charge 4% commission and the consumer will save 11%.

As woodo has not incurred any major costs, and the future variable costs are not yet estimated,
the financial plan is incomplete)

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MY
LEARNING

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