Principles of Entrepreneurship (ENT530): Business Model Canvas: AMNP Enterprise / Nik Nor Atirah Nik Nazman … [et al.]

Our company, AMNP Enterprise, is a company that produces sofa arm tray for domestic purposes. This company just started operating for the past two months. We are still in the process of improvising every aspect in the business practice. Before commencing this business, the partners have discussed and planned how the business is going to function and operate. We took into accounts of our possible competitors by doing Strength, Weakness, Opportunity and Threats (SWOT) analysis.
The reason why Sofa Arm Tray is our main product is because we developed and acquired an idea during the COVID-19 pandemic. Everyone around the world is required to stay at their respective home to avoid being infected from the virus. Almost every company instructed their employees to work from home. It is a great opportunity to come out with a practical and convenient tool that can help people feel more comfortable when staying at home.
The essence of our product is it will help people to have a handy tool to help make their quarantine more convenient. The sofa arm tray comprises of two cup holders and one phone holder. It can be placed on the sofa arm rest. The main purpose is to minimize movement when doing work, or even when relaxing in the living room because many things can be put on the sofa tray. When their things are within reach and easier to take, it will make people feel at ease and less tiring.
Our target customers are mainly those who are in the working class. Channels that we will be using are Facebook and Shopee due to larger number of users compared to other platforms. Creating and maintaining good rapport to our customers is key in customer retention. Our source of revenue will be the profits from our production and sales activities. It is important for us to ensure the quality of the products are monitored; therefore, the resources are only acquired from reliable and trusted suppliers. We also developed partnerships from multiple parties such as material suppliers, wholesalers, courier company etc. Since our company is in the beginning phase, we derive from a cost-driven cost structure and focusing on minimizing the cost of production.