Business

The “market size” is made up of the total number of potential buyers of a product or service within a given market, and the total revenue that these sales may generate. What is market size? Market size is the total number of potential clients or buyers in a particular market segment. It’s helpful for an organization or small business to determine its market size before launching a new service or product to ensure it reaches its expected audience. In various careers, such as marketing, sales and business consulting, such analysis is a critical part of business planning, as many investors conduct market sizing analysis before venturing into a new business. Knowing you’ve done your research also helps these professionals understand your goals and proposals. Market sizing is the act of approximating how many people use a certain service or product, an estimation that evaluates the potential reach of your brand. When market sizing, try to identify these three quantifiable standards: Units: The total quantity of products and clients in the market Value: The total value of products or clients in the market Market share: The percentage of products sold and clients gained by a specific organization Market size vs. Market value Market size describes the number of customers a business might attract over a specific period and the amount of money it can expect to generate from this hypothetical customer base. For example, a grocery wholesaler that sells to small- and medium-sized businesses in a particular city could calculate its market size by considering the number of small- and medium-sized grocery stores within the city limits. If there are 12 such stores in the city, that would factor into the wholesaler’s market size. Market value, or market capitalization, describes how much an organization, business or asset is worth in the financial market. You can calculate the market value of a business by multiplying the number of its outstanding shares by the market’s current price. Both market size and market value are important measures to know and use in your business. The former suggests your organization’s potential reach, while the latter points to how much money you can generate from your business. Add Your Heading Text Here Market Sizing Methods 1.Top-down- In the top-down method, you first determine the size of the entire market, figure out how much of that market you control and then compute the amount your business may earn from that share of the market. Factors such as your location and size, the population of your segment and the age and income of your target audience play a role in top-down market sizing. For example, if you estimate your business to control 10% of a market containing 500,000 consumers, the top-down analysis would calculate a market size of 50,000 potential customers. .2.Bottom-up- The bottom-up method is sizing that you determine by considering the major variables of your business, such as where you sell your products, the number of potential customers and the historical numbers of competitors’ products sold. For example, if you manufacture motorcycles, you might look into the number of motorcycle dealerships in the country, how many of them would be interested in carrying your brand and how many motorcycles each dealership has sold on average per period, among other factors.  trends. However, you’ll get a more realistic and accurate assessment of your market’s potential. How to calculate market size 1. Define your target consumers- Your target consumers are those most likely to buy your products or services. Often, your target consumers share a common trait, such as: Age range Gender Location Education Income bracket You can determine your target consumers by examining who’s currently purchasing your offerings and analyzing their characteristics. For example, a store that specializes in basketball apparel might have customers in all age ranges but find that it’s mostly 20- to 30-year-old basketball fans buying its products. That would be the manufacturer’s target consumer. 2. Quantify your target customers- Once you’ve defined who your target customers are, you can consult statistical resources to determine how many you might reach. Public databases can reveal the number of people in your defined range who fit your target criteria. You can also conduct market research to estimate the percentage of the total target audience that would be interested in your brand. For example, the owners of the earlier mentioned basketball apparel store might mail questionnaires to those aged 20 to 30 years to rate their level of interest in basketball and basketball apparel. 3. Determine available market and demand- Your research might reveal the approximate number of consumers who are interested in buying your product or service, but the number of people who actually can or plan to follow through with a purchase may be much lower. This smaller subset of the target customer base is the available market. For example, a sneaker manufacturer might identify 100,000 people interested in its product, but research on income and accessibility shows that only half of them have the means to follow through with a purchase. In that case, the available market is 50,000 potential customers. Knowing your available market, you can then multiply that figure by the total number of sales you can expect from each customer over a specific period. This is your demand. The same sneaker manufacturer might expect only one purchase for every potential customer, whereas an olive oil producer with the same number of potential customers might expect 12 purchases per year. With the former, its demand would be 50,000 units per year. For the latter, it would be 600,000 units per year. 4. Multiply demand by market value- Finally, to determine your market size, you can multiply the demand you’ve calculated by the value of each unit you sell. For the sneaker manufacturer, the price of one pair of its sneakers might be $250. To calculate its market size, multiply its demand of 50,000 by the unit price of $250. The result is a market size of $12,500,000. FAQs Why is understanding market size important?

Bank of India (BOI) is ranked among the leading public sector banking companies in India which provides personalised financial and banking solutions. A current account is a type of demand deposit account which includes deposits, withdrawals of funds, and business transactions. A current account is meant for business professionals or business enterprise and those who deal with huge transactions on a regular basis. A current account allows business people to carry out unlimited transactions without any limit.  Bank of India (BOI) was established in the early 1900s by a group of businessmen in Mumbai. Over a century later, the bank now has over 5,000 branches all over the country. Since its establishment, the bank has increased the number of products and services that it offers its clients. The current account is one of the many financial products that BOI offers its customers. A current account is a type of bank account that does not earn any interest for the deposits made to the account. Instead, it offers account holders high limits on withdrawals and deposits. These accounts are usually held by individuals who run businesses and require high liquidity. BOI has several variants of the current account. Each of these has been developed keeping in mind the specific needs of the customer.  Features and Benefits – BOI Current Account Current bank accounts are specifically designed to be used by a business. Current accounts do not provide any interest on the balance lying in the account with the bank. It requires a higher minimum balance as compared to the savings account. A penalty will be charged if the minimum balance is not maintained in the account. The account can be transferred to any other branch, and the monthly statements can be obtained. It offers unlimited deposits/ withdrawals in the home branch. A current account with Bank of India offers a premium internet banking facility mainly to manage the accounts and transactions and secure bill payment. Overdraft facilities, Internet banking and Mobile banking facilities are also available for current account holders. It offers unlimited deposits/ withdrawals in the home branch. Eligibility Criteria – Bank of India Current Account Hindu Undivided Family (HUF) Sole Proprietorship/ Partnership Private Limited Company/Public Limited Company Trust/Club/Society/Association Limited Liability Partnership (LLP) Foreign National Residing in India Foreign Institutional Investor (FII) Documents Required Individuals Proof of the company that you’re working in. Identity Proof: Aadhar Card, PAN Card, Driving License, Voter Identity Card, etc. Address Proof: Valid Passport, Utility bill, Aadhar Card, Property tax bill, etc. Seal of the company. Two passport size colour photographs Non-Individuals Hindu Undivided Family (HUF) Declaration from the Karta. Proof of Identification/Address Proof of Karta. Prescribed Joint Hindu Family letter signed by all the adult co-parceners. The identity of adult co-parceners. Sole Proprietorship Firm Identity Proof (PAN Card, Aadhar Card, etc.) of the proprietor. Address Proof (Valid Passport, Utility bill, Property tax bill, etc.) of the proprietor. Registration Certificate issued by the Registrar of LLP (in the case of a registered concern). Certificate/ licence issued by the Municipal authorities under the Shop & Establishment Act. Sales and income tax returns in the name of the sole proprietor. CST/ VAT certificate Certificate/ registration document issued by the Sales Tax/ Service Tax/ Professional Tax authorities. Partnership Firms Registration certificate Partnership deed Beneficial owners list holding more than 15% in the firm. Address Proof & ID Proof Power of Attorney (POA) Limited Liability Partnerships (LLP) Power of Attorney (POA) Registration Certificate issued by Registrar of LLP. Identity Proof of POA holders: PAN Card of the entity. Address Proof: Aadhar Card of the sole proprietor/ entity, Valid Passport, etc. Two passport size colour photographs. LLP agreement. Designated partners updated list. Private/Public Limited Company Beneficial owners list holding 25% share or capital. Address Proof & ID Proof Memorandum & Articles of Association Power of Attorney (POA) Certificate of incorporation Trust, Society, Unincorporated Association & Club Certificate of registration Power of Attorney (POA) Trust Deed Address Proof & ID Proof (trustees, executors, administrators, etc.) Beneficial owners list Once all the certificates mentioned above are self-attested and valid, you may open the current account in Bank of India. Bank of India Current Account Products Entrepreneurs can select the product from the below list that suits their business requirements. The following are the some of the Bank of India current accounts. Normal Current Account Silver Current Account Gold Current Account Gold Plus Current Account Diamond Current Account Diamond Plus Current Account Platinum Current Account Platinum Plus Current Account Star Benefit CD Plus Account BOI Super Current Plus Account Current Deposit Plus Account Normal Current Account Free payments and collections RTGS and NEFT transactions (via Net Banking/ Mobile banking). A number of cheque leaves – up to 50 cheque leaves free per quarter. Fund Transfer – Free fund transfer within the bank Collection of Cheques and payments – Bank of India locations all over the country Ancillary Services – Free utility bills payment facility through E-pay and also free statements of Account can be obtained. In addition, it has a facility with online Income Tax return filing. Bank Of India Current Account Average Quarterly Balance (AQB) to be Maintained       Cash Withdrawal   Non – Maintenance of Average Quarterly Balance Metro Branches Urban/Semi-Urban Branches Rural Branches Metro Branches Urban/Semi-Urban Branches Rural Branches Normal Current Account   Rs. 5000/- Rs. 2500/- Rs. 1000/- •        Unlimited in base branch •        up to Rs 50,000/- per day at other than Base branch Rs. 600/- per quarter  Rs. 500/- per quarter Rs. 350/- per quarter Silver Current Account Free payments and collections RTGS and NEFT transactions (via Net Banking/ Mobile banking). Demand Draft/Pay Order – 3 DD/ PO free up to Rs.5.00 lakhs per instrument Fund Transfer – Free fund transfer within the bank A number of cheque leaves – up to 25 cheque leaves free per quarter. Ancillary Services – Free utility bills payment facility through E-pay and also free statements of Account can be obtained. In addition, it has a facility with online Income Tax return

The anti-dilution clause allows investors to retain their shareholding percentage if new shares are issued. Anti-dilution provisions are clauses that allow investors the right to maintain their ownership percentages in the event that new shares are issued. Dilution refers to a shareholder’s ownership decreasing as a result of new shares being issued. What is an Anti-Dilution Provision? nti-dilution provision measures are introduced to protect investors’ and stakeholders’ interests, most of which have been associated with the company from an early stage. Provisions ensure that when a company issues new shares on the market, investors retain their right to maintain an original shareholding of more than 50%. Rights to protect the interests of preferred shareholders are most closely related to anti-dilution provisions. The issue of new shares by the company may reduce the value of the ownership percentage of existing investors and stakeholders. When more shares are in flow than when the stock option holders or stakeholders holding other optionable securities exercise their options, investors and early-stakeholders risk losing out on the value of their current claim to ownership of the company. There is, therefore, a need for dilution protection, which is geared towards the interests of early investors. Anti-Dilution Provision at Work In particular, for preferred shareholders in venture capital deals whose shareholdings can be reduced if subsequent issues of the same stock are listed at lower prices, dilution is a complicated problem to solve. Anti-dilution provisions could prevent this by modifying the conversion rates between convertible securities, such as company bonds or preferred shares and common stock. An anti-dilution clause can preserve the investor’s original shareholding percentage. Types of Anti-Dilution Provisions Full Ratchet- A full ratchet provision would protect investors who own options or convertible securities. The provision allows the investors to convert at the lowest sale price offered. Therefore, they are protected if the new offering price is lower than the conversion price on the investor’s shares. Weighted Average- The weighted average method uses a formula to determine the new conversion price. New Conversion Price = O x (A + B) / (A + C) Where: O – Old conversion price A – Shares outstanding before new issue B – Consideration received with new issue C – New shares issued When are Anti-Dilution Provision Used? Most companies that issue convertible securities use anti dilution provisions. The provisions are significant in the venture capital area because a number of funding rounds have already taken place. As they allow convertible securities to remain at a higher cost, they are also used to encourage companies to maintain their financial targets. How will the Anti-Dilution Provision Affect your Business? It’s important to note that the anti-dilution provision does not apply to everyone. The parties would not negotiate for the inclusion of an anti-dilution clause in some situations. This means that the guarantee provided by anti-dilution clauses can come at the cost of additional investors. This is a significant issue given that the vulnerable shareholder also serves as the founder or key employee of the company. This is why they may lose motivation to contribute to the company’s success when their shares are diluted too much. Investors with knowledge won’t wish to reduce the entrepreneurs’ drive to grow their businesses. However, when several investors are involved and multiple funding rounds are launched, anti-dilution clauses can significantly impact a company’s business process. FAQs What is an anti-dilution clause? An anti-dilution clause is a provision in a contract, typically found in investment agreements, that protects an investor from dilution of their ownership stake in a company in certain circumstances, such as future rounds of financing. Are there any downsides to anti-dilution clauses? While anti-dilution clauses protect investors, they can be disadvantageous for existing shareholders, including founders and early employees, as they may experience more significant dilution in subsequent financing rounds. Why do investors seek anti-dilution protection? Investors seek anti-dilution protection to preserve the value of their investment in the face of future fundraising rounds at lower valuations. It helps ensure that their ownership percentage remains relatively constant, protecting them from dilution and maintaining their initial investment value. 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Bridge rounds are interim financing rounds raised between larger funding rounds. Bridge rounds can imply that a startup is facing difficulties—although this is not always the case. Bridge rounds are typically structured as convertible debt. When a startup needs additional capital between two rounds of financing, they might raise a “bridge financing round” (often abbreviated to just “bridge round”).  What is a bridge round? It’s an interim financing round intended to keep the company afloat until the next, larger financing round.  While bridge rounds often carry negative connotations—such as implying the company is in financial trouble—that is not always the case. Bridge rounds might also provide an interim cash infusion to capitalize on rapid growth or prepare for an IPO. What Is Bridge Financing? Bridge financing, often in the form of a bridge loan, is an interim financing option used by companies and other entities to solidify their short-term position until a long-term financing option can be arranged. Bridge financing normally comes from an investment bank or venture capital firm in the form of a loan or equity investment. Bridge financing is also used for initial public offerings (IPO) or may include an equity-for-capital exchange instead of a loan. Why Do Startups Use Bridge Rounds? Financial difficulties. The startup is not getting enough traction, and their cash is quickly running out. Without a bridge round, the startup will likely shut down (29% of startups fail because they run out of cash). This scenario is the reason bridge rounds often have negative connotations. While this scenario may arise from a sudden change in market conditions, it can also be due to poor decision-making or financial planning by the founders. To hit certain milestones or sustain accelerated growth. Sometimes, raising a bridge round allows the startup to hit certain milestones. Achieving these milestones could result in a nice valuation bump in the next priced round. The startup could also be experiencing higher-than-expected growth, and require more cash to sustain this pace. These are positive scenarios and should be an easy sell to investors. Large, late-stage companies also use bridge rounds to put together additional financing in preparation for an IPO.  Time Extension: Startups may need more time to achieve critical milestones that make them more appealing to larger investors. A bridge round provides the runway needed to reach these goals. Market Volatility: Economic fluctuations or market uncertainties can disrupt funding plans. A bridge round can help startups weather these fluctuations until the market stabilises. Cash Flow Management: They offer a temporary infusion of funds to cover immediate operational expenses, ensuring continuity while preparing for a more substantial funding effort. Valuation Enhancement: If a startup’s valuation has not yet reached the desired level for a significant funding round, a bridge round can help it build value and attract higher valuations from investors in the future. How Is A Bridge Round Structured? Bridge round is typically structured as either convertible debt or equity. Convertible debt involves raising funds through a loan that can later be converted into equity during the upcoming funding round. This allows investors to lend money to the startup with the expectation of receiving equity at a predetermined valuation. Equity bridge rounds, on the other hand, involve direct investment by purchasing shares at a fixed valuation. Here’s an example: Consider a scenario in which a tech startup secures seed funding to develop an innovative software application. However, during the development phase, the startup realises the need for additional features and testing before launching a more extensive funding campaign. To address this gap, the startup initiates such rounds by offering convertible notes to existing investors. These notes represent a future conversion into equity at a discounted rate when the larger funding round takes place, incentivising early investors to participate. What To Consider While Raising A Bridge Financing Round Transparent Communication: Startups must maintain transparent and open communication with both existing and potential investors regarding the purpose and terms of the bridge round. Exit Strategy: Clear plans should be in place for how the bridge financing will transition into the larger funding round, ensuring a smooth process and alignment of interests. Terms And Valuation: Striking a balance between attractive terms for investors and maintaining fairness for both existing and future stakeholders is critical. Investor Relations: Establishing strong investor relations by providing updates and progress reports fosters trust and engagement. 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India is gradually on its mission to build a robust startup ecosystem. In order to promote and support startups, the government has formed a ministry (department) dedicated to helping new businesses. Furthermore, the Central Government of India has also introduced many schemes to bolster entrepreneurship in India and to assist emerging startups financially with their innovative initiatives. One of the significant steps taken by the Government was the introduction of convertible notes under the Companies Act, 2013, specifically for start-ups. The Term Convertible Note (CN) was first introduced by the Ministry of Corporate Affairs (MCA) vide Notification dated 29th June 2016, which amended the Rule 2 of The Companies (Acceptance of Deposits) Rules, 2014  wherein an amount of INR 25 Lakh or more received by a Start-up Company by way of Convertible Note was from thereon treated as an exempted deposit: “An amount of twenty-five lakh rupees or more received by a start-up company, by way of a convertible note (convertible into equity shares or repayable within a period not exceeding five (now ten years) years from the date of issue) in a single tranche, from a person, shall not be treated as Deposits” Further, Reserve Bank of India has also amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2016 vide Notification No. FEMA.377/2016-RB. to introduce the concept of convertible notes as an investment option for startup companies with effect from January 10, 2017. A. What is Convertible Note? 1. Companies Act, 2013 What is Convertible Note Companies Act, 2013 -According to Rule 2, in sub rule (1), in clause ©, in sub-clause (xvii) of The Companies (Acceptance of Deposits) Rules, 2014: “An amount of twenty-five lakh rupees or more received by a start-up company, by way of a convertible note (convertible into equity shares or repayable within a period not exceeding ten years from the date of issue) in a single tranche, from a person, shall not be treated as Deposits” Explanation II – For the purposes of this sub-clause- “Convertible note” means an instrument evidencing receipt of money initially as a debt, which is repayable at the option of the holder, or which is convertible into such number of equity shares of the start-up company upon occurrence of specified events and as per the other terms and conditions agreed to and indicated in the instrument Apart from above provision, there is no other provision in the Act which talks specifically about issuance of convertible note. Foreign Exchange-Management Act, 1999 ‘Convertible Note’ is an instrument issued by a startup company evidencing receipt of money initially as debt, which is repayable at the option of the holder, or which is convertible into such number of equity shares of such startup company, within a period not exceeding five years from the date of issue of the convertible note, upon occurrence of specified events as per the other terms and conditions agreed to and indicated in the instrument. Who can issue Convertible Notes Only a Start-up Company, recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) can issue a Convertible Note. The term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognized as start-up in accordance with the notification issued by the Department of industrial Policy and Promotion, Ministry of Commerce and Industry” An entity shall be considered as a Startup as per DPIIT notification dated 19th February, 2019 (superseding the notification dated 11th April, 2018), as below: Should be Private Company or Limited Liability Partnership or Partnership Firm. However, it does include a Private Company which is a subsidiary of a Public Company. Further, Entity should not have been formed by splitting up or reconstructing an already existing business. Up to a period of ten years from the date of incorporation/ registration Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees. It is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation. What is the procedure for issuance of Convertible Notes 1. to a resident person 2. to a person resident outside India 1. Companies Act, 2013 Company can issue Convertible Note under the provision of Section 62(3) of the Act (i.e., raising money as convertible debt) by passing Special Resolution and accordingly file form MGT-14 with ROC within a period of 30 days. a. Brief steps for issuance of Convertible Note to a resident person 1. Spot an Investor(entity/individual) 2. Finalize the Terms of Convertible Note agreement and procure Valuation Report 3. Convene a Board Meeting for approval of below:  Execution of Convertible Note agreement   Issuance of Convertible Note   Check your articles, if alteration required   Notice of General Meeting 4. Convene a Shareholder Meeting for approval of below: Issuance of Convertible Note Alteration of Articles, if required 5. File E form MGT14 within 30 days of passing the shareholders resolution 6. Issuance of Convertible Note Instrument. There are no specific timelines as per Act. However, the Company can issue the Note as per the agreed Terms and Conditions in the Convertible Note Agreement b.Conversion of Convertible Note On completion of 10 years or upon occurrence of specified events as per the terms and conditions agreed to and indicated in the instrument or Convertible Note agreement, whichever is earlier, Company may convert the note into equity shares at the agreed conversion price 1. The Company is required to adhere with the terms and condition of conversion, if any, stipulated in the instrument or Convertible Note Agreement 2. File PAS 3 within 30 days of the allotment of equity shares upon conversion. Include the name of the Holder as a shareholder in the register of members maintained by the Company and apply for stamping for shares

The Food Safety & Standard Authority of India (FSSAI) vide its notification dated 25th November 2021 has introduced Licence/ Registration or application number based user ids on Food Safety and Compliance System (FoSCoS) portal. FoSCoS provides multiservice for Food Business Operator (FOB), such as granting licenses and registration to FOB, and other regulatory compliances services. FSSAI registration is one of the most important registration required by every person involved in the food business, such as persons who wish to open a restaurant, bakery, hotel, cloud kitchen or food stall in India. Every Food Business Operator (FBO), such as entities or persons involved in manufacturing, preparation, selling, transportation, distribution and storage of food articles/products, are also mandatorily required to have an FSSAI registration to carry on their food business. Synopsis of FSSAI Notification To address the issue of control of user-id by the FBO, FSSAI has introduced a new methodology for FoSCoS user ID, it provides a solution to the following type of FBOs: Existing licensed/registered FBO FBOs whose applications are under process FBOs who are filing new applications for FSSAI License/Registration FoSCoS User ID for Existing Licensed/Registered FBOs With this notification, FSSAI announced that Login Methodology has been changed for Existing Users of FoSCoS. Existing users can now log in based on a 14-digits license/registration number or 17-digits application reference number and the Password is the same as earlier. FBOs shall reset their passwords after the first login. FSSAI has decided to segregate the existing user IDs of the system to the new license/registration number based user IDs i.e each user id of FoSCoS has now been linked to single license /registration. The password of newly created IDs will be the same as of existing parent user IDs, which can be updated by the users on initial login to FoSCoS. FSSAI stated that while migrating the existing user-ids to new user-ids the contact details in existing user-ids have been moved to ‘Primary’ contact details of new user-ids as a one-time measure while the contact details of the person nominated in Form ‘IX’ as submitted in Form B or contact person mention in Form A have been copied to ‘Secondary’ contact details of the newly created ids. FoSCoS User ID for FBOs whose applications for new license/registration are under processing For FBOs whose applications for new license/registration are under the processing stage, the name-based user ids have been converted to 17 digit application-based user-ids. The contact details of the existing IDs have been moved to primary contact details and the contact details as mentioned in the application have been moved to secondary contact details. Benefits of New Methodology for FoSCoS user ID Capturing primary and secondary contact detail will help in sending the notification and password reset OTPs to both the contacts i.e. to the food business and to the person who has provided any assistance in applying. The new methodology will also ease the resetting of passwords for user IDs. FBOs can reset passwords by entering the application/license/registration number. A password reset OTP would be sent to both primary and secondary phone numbers/email IDs. An online utility “Know your new user-id” has been placed on the FoSCoS login businesses page to provide ease to FBOs in identifying their newly created User-IDs. Users can access the utility by entering the existing User-ID. Guidelines For Applying Nw FSSAI license/registration FBOs are not required to create name-specific user-id before applying. Instead, they can apply for FSSAI license/registration directly from the FoSCoS homepage. FBO can check their eligibility based on the Kind of Business they are involved in and proceed with the selection of food products category/products. After entering the required details, FBOs are assigned a 17-digit application number based user ID on submission of “PRIMARY” or “SECONDARY” contact details under the sign-up details window. The System generated 17-digit User-ID is valid for future login purposes till the generation of license/registration. After the grant of license/registration, the 14-digit license/registration number becomes the user-ID. Updating of Email ID and Phone number in FoSCoS User ID In case any FBO is not able to reset the password of the FoSCoS user id for want of having his/her email id & phone number under primary & secondary contact details, he/she may send a request through email to the concerned Designated Officer or Registering Authority of the concerned district as per the SOP. Such FBOs are required to represent their case through email or written letter to the concerned Designated Officer [Licensing Authority] or Registration Authority with the following documents: Request for updating of Phone number and Email ID should be on the letterhead of the firm/company duly signed by an authorized person of the firm, clearly stating the reason for the non-accessibility of login credentials. A copy of photo identity card such as Aadhar Card, Voter ID card of the authorized signatory, etc. A copy of existing license (s), registration certificate (s)/application (s) in form A or B as applicable. FAQs How to download the FSSAI registration certificate from the FoSCoS portal? When the FSSAI authorities issue the FSSAI registration certificate, they will send the certificate on the mail ID of the FBOs. The FBOs can also download the FSSAI registration certificate by logging into the FoSCoS website and clicking on the ‘Issued’ tab on the dashboard. The FSSAI registration certificate details will be displayed on the screen. Click on the FSSAI registration number and the FSSAI Registration certificate will open with the download button on the screen.  What is the FSSAI License validity period in India? An FSSAI license can be acquired for a period ranging anywhere from 1 year to 5 years. The FSSAI has prescribed different validity periods for different licenses and food products. Your fee also varies according to the food license and the validity period. How to renew your registration/license after expiry? You need to renew your FSSAI Registration/license before the expiry of its validity period. In case you end up missing the date of renewal of the application, you will have to apply for a fresh FSSAI license if you

A management information system (MIS) is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes and technology in an organizational context. In a corporate setting, the ultimate goal of using management information system is to increase the value and profits of the business. What is Management Information System? Management information systems (MIS) are integrated computer-based networks and applications that collect, store, and analyze data to help business leaders and managers make informed decisions.  Management information systems consolidate raw data from multiple sources, turn it into useful information through analysis, and distribute customized reports to stakeholders. Well-designed MIS can improve efficiency, align business operations, and help drive overall company performance. Management information systems (MIS) are an organized method of collecting information from various sources, compiling it, and presenting it in a readable format. It helps business leaders and managers make strategic management decisions.  Types of MIS 1 Process Control Gather data to create reports based on the performance of systems and processes. 2 Management Reporting System Generate reports for the company’s operations. 3 Inventory Control Allow tracking of the current inventory state within a department or the company. 4 Decision Support Systems Gather information from internal and external resources and help team management make efficient business decisions. 5 Expert Systems Use Artificial Intelligence to simulate the judgment and behaviour of a person or organization with expertise and experience in a specific field. 6 Executive Information System Report company data to top management directly in an easy-to-read format.  7 Transaction Systems Automate business processes and collect data on a company’s daily transactional activities. 8 Accounting & Finance Systems Track a company’s assets and investments and processes financial and accounting-related operations. 9 Sales & Marketing Systems Facilitate tracking of a company’s sales and marketing efficiency.  10 HR Systems Allows control of organizational information circulating within the company and oversees tasks like recruitment and daily administration, ensuring all employees comply with company standards. 11 School Information Management Systems Help educational institutions manage daily activities like attendance, payroll, and employee schedules. 12 Local Databases Offer information about the residents of a given locality. Functions of management information systems Data collection and storage- Management information systems gather and store data from various sources, such as sales figures, stock levels, financial statements, and employee records. MIS serves as a repository of information, ensuring all relevant data is accessible to decision-makers. Data processing- MIS processes raw data into a more usable form by sorting, classifying, calculating, and interpreting. By turning vast amounts of raw data into meaningful information, MIS can make it easier to identify trends and insights. This involves the creation of reports, visualizations, and summaries that aid managers in understanding the current state of the business and forecasting future scenarios. Data management- These systems organize and maintain data systematically, ensuring accessibility and regular updates. Effective data management keeps information relevant and reliable for business planning. Company Projections – These management information systems come with trend analysis features that will allow you to project how a business will perform in its current configuration and how it will be affected once you have implemented the changes you are considering.  Even the ones without the trend analysis function will still offer sufficient information to carry out the analysis accurately using external tools.   Features of MIS Data integration: MIS integrates data from various departments and functions, giving decision-makers a comprehensive view of the organization’s data. Data storage: MIS stores vast data in databases, making it accessible and retrievable when needed. Data processing: MIS processes data to generate meaningful information. It can perform calculations, comparisons, and other data transformations to produce reports and insights. User-friendly interface: MIS systems typically have user-friendly interfaces that allow non-technical users to access and interact with data easily. Customization: MIS systems can be customized to meet an organization’s needs. Users can define the type of information they want to access and how it is presented. Real-time information: Many MIS systems offer real-time or near-real-time data updates, ensuring decision-makers can access the most current information to make timely decisions. Report generation: MIS generates various reports, including standard reports, ad-hoc reports, and exception reports. These reports help managers monitor performance and make informed decisions. Security: Access to sensitive information is restricted, and measures are in place to protect data from unauthorized access or breaches. Accessibility: MIS can be accessed remotely, allowing decision-makers to retrieve information from various locations. Integration with other systems: MIS systems can integrate with other software and systems of the organization, such as ERP (Enterprise Resource Planning) systems, Customer relationship management (CRM) systems, Human capital management (HCM) systems, etc. Mobile compatibility: Many modern MIS systems are compatible with mobile devices, allowing users to access critical information on the go. Data analytics: Advanced MIS systems may incorporate data analytics and business intelligence tools to provide deeper insights and support predictive analytics. Benefits of MIS Allows company management access to a single database to manage all transactions and planning processes. It saves time and increases work effectiveness considerably. Ensures improved data analysis and decision-making. Maintains an accurate record of the system’s inputs and outputs and tracks employee performance. Critically analyze a company’s and its employee’s strengths and weaknesses. The CEOs or executives can take greater company financial and operational control. Limitations of MIS While MIS may solve some acute problems, it is not a solution to all problems of an organization. Involves maintenance and employee training costs. It cannot meet everyone’s particular demands. If misdesigned, MIS does not serve the management and is irrelevant. The MIS is only good if the primary data is updated. Most information provided by the MIS is in quantitive form. Hence, it ignores qualitative information like the behaviour of an employee. FAQs Q: What are the primary functions of an MIS? The primary functions of an MIS include data collection, processing, storage, retrieval, and dissemination of information for efficient management decision-making and organizational control. Q: What is a Management Information System (MIS)? A Management Information System (MIS) is a computer-based system that provides managers with tools to organize, evaluate,

Average order value (AOV) is an e-commerce metric that tracks the average amount spent whenever a customer places an order on a website or application. AOV is considered one of the most important metrics in the e-commerce industry. Average Order Value (AOV) is an essential but eventually imperfect statistic to track as your company expands. It’s one of the first things business owners want to enhance to boost revenue or maximize the return on ad spending. Businesses want to raise their average order value, especially those in the online retail sector. This is because increased AOVs will lead to better overall revenues. This way, profits can gradually rise for a company. What is the Average Order Value (AOV)? The average order value (AOV) is the amount customers spend on average when they buy something from your website or mobile app. This metric especially helps online stores figure out how their customers buy things. AOV assists you in setting goals and strategies and evaluating how effectively those efforts perform. It aids in evaluating your total online marketing activities and pricing strategy by providing the measurements required to calculate the long-term value of individual customers. Calculation of Average Order Value (AOV) For example, let’s say that in the month of September, your web store’s sales were $31,000 and you had a total of 1,000 orders. $31,000 divided by 1,000 = $31, so September’s monthly AOV was $31. AOV is a key performance indicator that online businesses measure to understand their customers’ purchasing habits. Like other key metrics, AOV can be tracked for any time period, but most companies monitor the moving monthly average. How does Average Order Value impact business decisions? Advertising Spending: Check how much your company spends on advertising and how it relates to the average order value. If you are paying as much as your order value or more to acquire a customer, keep in mind that you are in the wrong position. Customer Behavior: Understanding and raising your AOV can effectively affect your business. For example, Halloween Day campaigns may be successful for fancy dress businesses but unsuccessful for home products businesses. This can help you determine which season is the most important to pay attention to for your business. Conversion Expenses: Your business could lose money if you have low average order values and high conversion costs. When calculating your average order value, ensure it is at least twice as large as your conversion or acquisition costs. How to Increase the Average Order Value (AOV)? Increase Product Price- The easiest way for an online seller to raise the average order value is to increase the prices of the products they sell. An increase in product prices boosts revenue and average order value. By raising the price, you may lose customers, resulting in a drop in revenue. That’s why testing the strategy’s viability before implementing it is critical. Upselling- Offering a product that is upgraded and more expensive than the one the customer wants is known as upselling. The upselling technique seeks to boost profits from every order. For example, consider smartphone plans. A customer may have selected a phone with 6GB RAM, but an 8GB RAM option is listed on the same website, and you can offer this phone by an advertisement as an upgrade. Cross-selling- Cross-selling is similar to matching. It suggests that a vendor invites customers to purchase other or related goods to the one they are now buying. For example, a set of earrings could be recommended to your customer when they’re browsing for a dress. Increased revenue per order is one of the goals of this method. Offer Discounts- Providing customers with promos and discounts when they add things to their shopping cart is another excellent approach to increase your AOV. For example, customers who order $50 or more will receive a 10% discount. People make purchases through these offers and feel they have scored the best possible deals. Be sure that the final price is higher than the average order value when you calculate it. Offer Free Shipping- You could create a limit for free shipping as an alternative to discounts. This is usually given when a certain amount is spent. It lets people spend a little more to save a little. For instance, a seller might provide free shipping to customers who buy more than $100 worth of goods. Create A Loyalty Program-Creating a customer loyalty program can be an excellent way to keep your customers because it helps build relationships with them and encourages them to return. Several ways to reward loyal customers include allowing them to earn points or discounts on purchases. With this loyalty program, you may create a more extensive customer base that will likely make more purchases by encouraging repeat sales. Your Average Order Value may rise as a result of this tactic. Why does average order value matter? Your company’s average order value helps you evaluate your overall online marketing efforts and pricing strategy by giving you the metrics needed to measure the long-term value of individual customers. As a bench mark of customer behavior, the AOV helps you set goals and strategies and evaluate how well those strategies are working. Sometimes marketers focus much of their energy on increasing traffic to a website when it would more impactful and profitable to increase their AOV. Increasing traffic typically costs money, while increasing AOV does not. Since there is a transaction cost associated with each order, increasing your AOV is a way to drive direct revenue and increase your profits when customers are already buying from your store. FAQs Q: What is Average Order Value (AOV) in e-commerce? Average Order Value (AOV) is the average amount of money spent by a customer in a single transaction on an e-commerce platform. It is calculated by dividing the total revenue by the number of orders. Q: How is AOV calculated? AOV is calculated by dividing the total revenue generated by the e-commerce business by the total number of orders received within

In India, MedPlus is one of the leading and fast growing healthcare retail chains which was started by the Dr Madhukar Gangadi in the year 2006. In recent years, MedPlus has grown into 1400 pharmacies throughout the country. It serves over 2,50,000 customers daily and employs over 10,000 people. MedPlus helps persons who prefers to be self-employed by helping starting a MedPlus Pharmacy franchise to attain success in the pharmacy business. MedPlus, a pharmacy chain based in Hyderabad, launched an IPO around October/November 2020. The company hopes to raise more than ₹ 700 crore through the process. In addition, MedPlus has entered into an exclusive partnership with Jamieson Wellness, one of Canada’s largest consumer health companies. Pharmaceutical Industry in India With an increase in the changing lifestyle conditions and an average lifespan and approach to healthcare facilities, there is a rising demand for healthcare and wellness products all throughout the world. As per the surveys of the pharmacy market, the recent measure of the Indian pharmacy market is around Rs 80,000 Crores and is expected to cross Rs 160,000 Crores by 2020. The retail pharmacy sector is expected to grow by approximately 20% year on year with organised pharmacies increasing their market share to about 30% of the market by 2020. MedPlus Mission and Vision The mission of  MedPlus is to be the premier choice of customers for their health and wellness by understanding their needs and exceeding their expectations, and the vision of MedPlus is to revolutionise healthcare delivery in India. Why the MedPlus Franchise? MedPlus is a highly recognized brand where there is no need for marketing. Largest retail pharmacy chain in India in the short while. Also, e-pharmacy is available here. Door-to-door delivery is available. Provides quality and genuine medicines Higher customer service and great value for money. Benefits of Owning a MedPlus Franchise Medplus serves more than 2,50,000 customers daily and employs more than 12,000 people. The company offers free home delivery in several locations near the store. MedPlus is an organized retail pharmacy chain having around 6-7% market share. The retail pharmacy industry may grow around 20% year on year. You can carry the pride of our success in your locality with an assured income. Best training, knowledge, and support for running the pharmacy will be provided. MedPlus basically has strong guidance by expertise and sourcing, technology, and execution abilities. You can avail of a credit facility or loan from the State Bank of India (SBI) under a particular scheme for about 60% of your investment requirement. You generate a volume of business that is 2 or 3 times higher than the competition and enjoy higher customer retention and repeat purchases due to our brand pull and the attractiveness of our loyalty and reward program – Flexi Rewards. Produces higher profits by having access to our high-quality private label brands with higher margins. Eligibility Criteria to become a MedPlus Franchisee Individuals were capable of working hard, diligent and dedicated. Should be able to manage the pharmacy operations rather than through employees personally. Should have the capacity to do the fundamental calculation and understand trade terms, margins, profit & loss. A pharmacist qualification is helpful. However, it is not mandatory. At a minimum, the candidate should have finished the Intermediate level education or SSC. Previous experience in a pharmacy or managing a small business will be beneficial. Area Specifications The MedPlus outlets are set-up with square feet ranging from 300 Sq.ft.-500 Sqft; and the location preferred in potential areas with excellent frontage. Financial Requirements Total expenditure expected to set up a MedPlus Franchise is of Rs 17.50 lakhs to 20 lakhs varying from the location and the size and condition of the premises. The investment includes franchisee fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationery and necessary inventory (stocks). Term of Agreement The franchisee needs to sign an MOU which contains the written statement about the company terms and condition will sign a franchise agreement with selected franchise owner for certain years initially. The agreement is however renewable if both the parties agree. Regions of Operation MedPlus Franchises will become accessible over India. Though, in the beginning, franchises are being offered only in the states of Andhra Pradesh,  Telangana, Tamil Nadu and Karnataka. Any town with more than 50,000 population would be suitable for a MedPlus Pharmacy. MedPlus Franchise Training and Support Assistance in all aspects of operating the franchise. Assistance in selecting the proper location for the store. Help with store identification and lease finalisation. Support in entire layout plan, branding materials and furniture and systems required. Training for the franchise and its staff. Facilitate a bank loan if required. Supply of all products sold through the store. Operational assistance through the running of the store. providing all types of equipment to manipulate the pharmacy related purchases, sales, bank deposits, customer records without any complications. Audit support. 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Return on advertising spend (ROAS) is a metric that estimates the revenue received from every dollar a company spends on advertising. It allows companies to assess the effectiveness of advertising campaigns and the income they earn from them. Return on Ad Spend (ROAS) is a marketing metric that measures revenue earned for each dollar you spend on advertising. By calculating and tracking ROAS, you gain insights on the effectiveness of your advertising. You can calculate ROAS for a wide variety of advertising initiatives, from measuring ROAS on single ads or projects, to calculating ROAS on monthly campaigns or for an entire year’s worth of advertising spend. What is Return On Ad Spend (ROAS)? Return On Advertising Spend (ROAS) is a revenue-based metric used to calculate the efficiency and performance of digital advertising spend. In the mobile world, this often refers specifically to the amount of revenue generated by in-app purchases, advertising impressions, and app subscriptions. This revenue is often measured across user segments, or specific groups of users known to have been acquired through advertising networks or campaigns. By grouping users according to their source, recording the cost associated with acquiring them, and subtracting it from the revenue they’ve generated, mobile marketers are given a clear look into how their choices impact the company’s bottom line. Why is your ROAS important? ROAS is an important part of any modern marketing campaign. If your return on ad spend is meeting or exceeding expectations, it’s a good indicator that your strategy is paying off. On the other hand, a low ROAS is a sign that something’s not working and needs to be retooled. How to Calculate Return on Ad Spend (ROAS) Calculating ROAS is simple. You divide the revenue attributed to your ad campaign by the cost of that campaign. For example, if you spend 1,000 on ads, and your revenue is 2,000, you calculate ROAS by dividing 2,000 by 1,000. This gives you a ratio of 2:1 or 200%. The more effective your campaign, the larger your ROAS and the more revenue you have earned for each advertising Rupees spent. Why Return On Ad Spend matters ROAS is essential for quantitatively evaluating the performance of ad campaigns and how they contribute to an online store’s bottom line. Combined with customer lifetime value, insights from ROAS across all campaigns inform future budgets, strategy, and overall marketing direction. By keeping careful tabs on ROAS, ecommerce companies can make informed decisions on where to invest their ad dollars and how they can become more efficient. What Is the Difference Between ROAS and ROI? The difference between ROAS and ROI (return on investment) is that ROAS only looks at the revenue gained from a specific ad campaign. ROAS is a short-term measurement—it’s the best metric to use when determining if your advertisements are driving revenue effectively. ROI measures the return from larger marketing and advertising efforts, such as paying influencers, hiring an SEO agency, hiring freelance writers, Challenges with ROAS Revenue from ads is not necessarily a good indication of economic benefit because Return on Ad Spend may be considered a vanity metric.  A vanity metric is a figure that managers/owners favor mostly due to ego, and that doesn’t necessarily contribute to long-term business viability. A better metric to use may be something such as Contribution Margin, which is equal to revenue minus variable costs, e.g., cost of goods sold (COGS) and shipping.  For many eCommerce businesses, cost of goods sold and shipping are major expenses, and may not leave much of a net return. How Do You Improve Your ROAS? First, review the data you’re using in your ROAS calculation. Make sure you are only considering the advertising costs and not unrelated costs, such as order fulfillment. Erroneously including unrelated costs makes your ROAS look lower than it actually is. Next, analyze your end-to-end flow from ad placement to conversion. The conversion rate on your landing page refers to the percentage of landing page visits that result in a sale. If you’re successfully driving visits to your landing page, but your ROAS is low, chances are your page’s conversion rate is the issue in your ROAS calculation. Make sure everything is set up properly on the landing page, including a clear and noticeable call-to-action. Next, ensure that the wording and offers on your landing page align with elements of your ad copy (such as ad headline, sub-head, link text, etc.). Another factor to consider to improve your ROAS calculations—and the results—is whether your ads have run for too long. Ad fatigue results when your audience is tired of seeing your ads; customers and prospects notice them, but don’t click through to your landing page. Try creating and A/B testing new ads against the old ones—with new offers, ad copy, and creative—when your ROAS decreases. Add Your Heading Text Here What is Return on Advertising Spend (ROAS)? ROAS is a metric used to measure the revenue generated for every unit of currency spent on advertising. It is calculated by dividing the total revenue generated from advertising by the total amount spent on that advertising. How is ROAS different from ROI? While ROI (Return on Investment) is a broader measure that considers all costs associated with a campaign, ROAS specifically focuses on the return generated from the advertising expenses. ROAS is calculated as revenue from ads divided by ad spend, while ROI considers the net profit relative to the overall investment. Why is ROAS important for advertisers in India? ROAS is crucial for advertisers in India as it helps assess the effectiveness of their advertising campaigns. It provides insights into the profitability of ad spend, allowing advertisers to optimize their strategies for better returns and allocate budgets more efficiently. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting