New concept of subscription-based delivery service of hygienic products for women for the Spanish Market. The project contains the development of the idea, tested the prototype and the development of a branding strategy for the product.

1. Entrepreneurship - BlissBOX Business Plan
MIM Sept 2014 Intake, Section 1, Group F
Chawki Asmar
Nay Moussa
Mauro Rafaelli Castilhos
Maria Teresa Costa Alemao
Horacio Fernandez del Castillo
Jannik Peters
Soraya Torres

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Table of Contents
1.Introduction……………………..…………………………………………………….….3
2. Opportunity Description…………………………………………………………....….3
3. Market Analysis………………………………………………………………………..4
4.Industry Analysis & Competition...…………………………………………………4-5
5. Business Model……………………………………………………………………...5-6
6.Service Description: The BlissBOX Experience………………………………….6-7
7.Competitive Advantage…………………………………………..………………...7-8
8. BlissBOX Everywhere: introducing the APP …………………..………………......8
9. Future possibilities for the service……………………………………………………8
10. Appendix I: The Team…………………………………...……………........9
11. Appendix II: Financials………...……………………………………….......10

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1.Introduction
A quarter of the world’s population suffers monthly from a physiological
phenomenon that cannot be avoided; only partially relieved. Affecting every
woman on the planet ages 14-45 -on average-, menstrual periods are a monthly
inconvenience that BlissBOX aspires to turn into a pleasant experience..
BlissBOX is a monthly subscription service that delivers carefully designed care
packages containing feminine hygiene brands and products of our customer’s
choice, along with chocolates and other different pleasures each month, right on
time for her cycle. BlissBOX wants to turn females’ monthly nightmares into
their monthly dreams. We envision BlissBOX as becoming a nationwide service
throughout Spain, and potentially throughout other European countries, that
leverages on the increasing popularity of subscription based business models.
We see the Spanish market as a blue ocean and entry into further European
markets, and want to create a viable company and secure sustainable growth
based on our competitive advantage.
2.Opportunity Description
Periods are just an all around bad experience; they’re painful, they’re
inconvenient, and they’re always an unpleasant surprise. In a survey conducted
with 125 females, 97% of whom are between the ages of 18-27, 72% cited
cramps and pains as the most burdensome part of getting their periods, 57%
cited moodiness, and 24% cited the inconvenience of not having enough
supplies on hand when that time of the month comes around. Period pains,
PMS and mood swings, and all the other hassles that come with getting your
period are truly a burden; just ask any female. Periods, for so many reasons,
are a monthly nightmare.
BlissBOX targets 18-27 year old females whom are frustrated with all the hassle
that come with periods and seek comfort, care, and convenience during that
time of the month. BlissBOX is a monthly subscription service that allows
females to choose which brand of feminine hygiene products they’d like
delivered to their homes right on time for their cycles (and includes hand-picked
goodies and treats like chocolate and body lotion to make those period pains a
little less painful). Our survey shows that 78% of females aged 18-27 are loyal
to their favorite feminine care brands, and with BlissBOX, they don’t have to
break that loyalty. BlissBOX understands that feminine hygiene is a personal
matter, which is why subscribers can pick which of their favorite brands are
delivered each month. Our survey also shows that 50% of participants would
love to be taken care of during their time of the month. BlissBOX takes care of
all monthly period inconveniences and hassles, but also includes treats to make
that time of the month an experience they look forward to. BlissBOX turns
monthly nightmares into monthly dreams. BlissBOX creates a blissful
experience that brings surprise and joy to females during that time of the month.

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3.Market Analysis
BlissBOX’s target is females aged 18-27 in Spain, which roughly amounts to
2,212,511 females. Spain’s population growth is slightly declining and as a
result it is expected that more young women will exit our market segment than
enter it in the coming years, so we can safely say that our market will
experience a subtle but not significant decline in the following years. The
general tendency of our population is to shrink in the next decades, but this
trend won’t have a decisive impact on our business model as we have a
number that is currently high enough.
The market is currently served by the alternative, which is going to a store and
buying feminine product brands. This market is also very stable: every female
aged 18-27 is bound to get her period every month (not considering exceptions).
According to the survey conducted, the majority of these females get their
periods at the same time every month, so an on time delivery service is viable.
Additionally, only 6,52% of our surveyed target choose private brands over
consolidated brands, a good indication for us that our target is willing to pay
more for quality. Furthermore, the majority of our surveyed target was
overwhelmingly loyal to their preferred brand. These insights imply that a
greater number of customers perceive added value and could be willing to pay
a premium for a service like BlissBOX, in which their preferred brands would be
delivered right to their doorstep right on time for their cycles. Current trends in
retail are moving towards digital alternatives and increasing services through
the online channel. In addition, the worldwide market for subscription services
have been steadily growing in the last five years, when beauty delivery
subscription services like Birchbox and JolieBox have experience a rapid
growth in several American and European markets. Fortune Magazine writes,
“Welcome to the subscription economy.” BlissBOX can benefit from not only the
newness of this service in Spain, but also this growing trend towards
subscription services, especially that the subscription based business model
has been tried, tested, and validated throughout several markets already.
4.Industry analysis and competition
The market maturity faced by many feminine product brands has led to a clear
market dominance of Procter & Gamble. In Spain in particular, this market is
characterized by low growth and high penetration costs for new entrants. Most
competitors seek high brand loyalty and early stage customer attraction; with
these strategies they manage to offer a wide range of products and emphasize
on achieving high customer satisfaction. The high degree of market
concentration in Spain shows that there are currently two main competitors;
P&G and Johnson & Johnson. P&G maintains leadership with well-known
brands like Evax, Tampax, Ausonia and Always followed by Johnson & Johnson,

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with brands like O.B and Carefree. Retail brands also have a significant market
share, however price sensitive consumers are not our target. As seen in the
appendix, Procter & Gamble currently has 54% of the market share by volume
in sales of all feminine products, Johnson & Johnson has 8% percent market
(keeping in mind that OB tampons and Carefree panty liners are the only
products sold by the conglomerate in the Spanish market). Finally we have a 38%
of the market focused on retail brands, which have managed to penetrate the
industry due to aggressively low prices.
In the current market, we see major brands focus almost entirely on
differentiating themselves by quality, brand image, and/or product innovation.
BlissBOX sees this as an opportunity to differentiate our brand based on an
experience that holds both functional and emotional value to our target. Being
the pioneers of this type of product in the Spanish market will allow us to create
a new market and, if our strategy is done right, will allow us to become market
leaders. Our service is disruptive to the Spanish feminine hygiene industry and
its entire structure; none like it exists thus far. As previously mentioned, our
main supplier will be P&G and we will have heavy dependence on them. We
would therefore be mere distributors of their products, but more importantly,
sole deliverers of the BlissBOX experience. We understand that consumers can
easily access the feminine products in our care packages in many physical
channels, and we will therefore strongly market ourselves as delivering an
entire experience that tends to the monthly nightmare of periods.
5.Business Model
BlissBOX’s monthly subscription based business model is based on turning a
one time purchase decision into repeat purchasing behavior. BlissBOX’s main
revenue stream will come from online payments of the subscription; users can
choose to be charged month-by-month for 13€/month, pay 3 months up front for
11€/month, or pay 6 months up front for 9€/month. This kind of business model
is a sustainable competitive advantage in itself because it not only guarantees a
recurring cash flow and revenue stream, but it also allows for better forecasting
and planning of all operational processes, especially given that we must deliver
on time for each of our customers’ cycle. BlissBOX’s supply chain is a critical
factor to its success. Feminine hygiene products will be ordered in wholesale
from suppliers (in Spain, our main supplier would be Procter&Gamble, whom
own Evax, Tampax, & Ausonia).
A second revenue stream (in the long run and upon gaining traction) will come
from brand partners, i.e. companies who will initially give us free samples that
are in line with the experience we offer, to supply us with the extra treats and
goodies (i.e. chocolates, lotions, etc.) for our box. This is beneficial because it
allows us to serve as their channel in marketing, i.e. a path for products to get to
new customers. As BlissBOX scales and gets traction amongst users, we

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assume that brand partners whom have the same target audience as ours will
pay us to have their products featured in our box.
Finally, we will have revenue streaming in from re-purchases of products. We
offer clients the ability to re-purchase products (from the surprise treats and
goodies) they tried and loved, to be delivered in their next BlissBOX. This not
only makes the experience even more personal, but more importantly acts as a
repurchasing generator and is an interesting way to tie our clients in.
We will therefore have three revenue streams; subscriptions, repurchases, and
(in the long run) from brand partners looking to promote their products through
us.
It is crucial to optimize packing, shipping, and material costs, which are our
three biggest cost drivers. Margins can be increased by ensuring that shipping
costs are as low as possible, and it is therefore important to scale quickly to
receive competitive price discounts on shipping costs. The same applies to
materials; if bought in bulk, costs will decrease, and it is therefore essential to
scale fast. Another important yet not so heavy cost will be marketing. Attracting
customers depends on 1) direct marketing and 2) word of mouth. Given that
BlissBOX is an experiential service, proper marketing of our brand (its functional
and emotional benefits) is key. BlissBOX can be easily replicated, and hence
packaging, timeliness, and the overall experience of receiving, opening, and
using the box must be perfected to also induce word of mouth and brand equity.
6.Service description: the BlissBOX experience
1. Our female clients go to our website, where they’ll be asked to sign up if
interested in our service. Once the client signs up, they will begin building
their BlissBOX.
2. Client chooses the feminine brand/products of their choice. We
understand each girl has her own personal preferences since this is such
a sensitive product, which is why she always chooses what she wants.
3. Next, the client tells us her cycle. This ensures that her BlissBOX is
delivered at least two days before her time of the month comes around.
We understand our clients are strapped on time and need flexibility.
Travel plans? Won’t be home? That isn’t a problem. We offer flexibility;
our clients can make changes up to 5 days before delivery. We also send
a reminder email a week before delivery. This puts partial responsibility
of satisfactory service in the clients hands, and ensures she has options.
4. Client chooses her subscription plan. She can choose to pay and be
charged on a month by month basis (13€/month), pay for 3 months up
front (11€/month), or pay 6 months up front (9€/month).

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5. The client receives her BlissBOX and enjoys the BlissBOX experience!
Feminine hygiene products of her choice straight to her door right on
time for her cycle coupled with surprise goodies and treats is sure to turn
her monthly nightmare into a monthly dream.
6. If a client enjoyed using one of the surprise products featured in
BlissBOX, they can scan the code using the BlissBOX app or introduce
the barcode number through the BlissBOX website to purchase it, and it
will be delivered as a part of her next box.
7. Clients can give feedback on the surprise products they received in their
box after delivery via the BlissBOX website or app. This will allow us to
test drive different products and determine the success of future products
to be used in future boxes. This will also allow BlissBOX to keep clients
engaged even after the BlissBOX experience.
7.Competitive advantage
BlissBOX has strong competitive advantage over traditional competitors that will
allow us to engage with customers in a way that will ensure girls won’t come
back to buying pads and tampons at the supermarket.
The BlissBOX Experience: This is BlissBOX’s differentiation point. Buying
tampons or pads at the supermarket is a transaction. BlissBOX delivers an
experience. BlissBOX turns monthly nightmares into monthly dreams, turning
that time of the month into a time of surprise and joy.
Convenience & Flexibility: Clients have to run to our competitors, but
BlissBOX runs right to our client’s doors. We believe that if we provide a timely
and efficient service customers will understand the magnitude of our value
proposition. Furthermore, we offer our clients the flexibility to choose, update,
and change delivery dates and times. This puts partial responsibility in our
client’s hands and can ensure satisfaction.
Operational Competitive Advantage: Knowing clients cycles and delivery
dates early on gives Bliss Box an operational competitive advantage and allows
for pre-mature delivery scheduling, planning, and purchasing (for example, no
to very little over-purchasing of inventory).
Newness: Our newness in the Spanish market is a competitive advantage in
that it is a completely different alternative to traditional competitors. Scaling fast
and scaling quickly, if done right, can allow us to capture a large part of the
market before any new entrants offering similar services can.

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Strong Partnerships: Our focus on brand partners and suppliers, like P&G,
can be a huge competitive advantage. Creating strong partnerships and
satisfying our brand partners will be a strong barrier to the success of potential
entrants.
Loyalty: We are focused on touching our clients through different means. The
first is when the box is delivered to their door and used by the client. The
second is post-usage. If a client likes products she tried, she can re-purchase
them to be delivered in her next box. She can also give reviews and feedback
on products she tried. This allows for engagement and interaction at different
points of time, further adding to the BlissBOX experience. By the time new
entrants come in, we would have already built a loyal base.
8.BlissBOX Everywhere: introducing the APP
Our customers will have the possibility of accessing their account from their
mobile device without BlissBOX app. It will also allow them to check (using QR
or Barcodes) whether a selected product is available for delivery within the
BlissBOX and access exclusive deals and promotions, among other features.
This easy and convenient app will be available for free download for iOS and
Android operating systems since the launching of our subscription service.
9.Future possibilities
Our goal is further expand our service to include other hygienic products along
with tampons/pads. Goodies and delicacies will be present since the beginning
of our service, but once we manage to build a strong brand other feminine care
products will follow suit. Once we have fully developed BlissBOX as the leading
subscription service for hygienic products in Spain, which is our ultimate goal,
one more source of revenue will finally be available: insights and data selling to
our partners.
One of the most interesting features of the BlissBOX personalized accounts is
the possibility to ask for feedback of the products included, along with specific
reviews of items. With the aggregated data of our customers, we will be able to
provide with reports to our partners (Procter&Gamble, etc) for a fee.

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9.Annex I: The Team
Horacio - Strategy
Master Architect from Universidad Politécnica de
Madrid, 18 months of international studies In Shanghai
(Tongji) and, São Paulo (Mackenzie). Experience in
business development for several architectural firms.
Nay – Product development
Bachelor of Business Administration with specializations
in Entrepreneurship & Marketing from IE University.
Studied abroad in Cannes & Rome. Research
experience in iconic brands.
Soraya - Brand manager
Bachelor of Science in Business Administration with
specialization in international commerce from
Universidad San Pablo CEU. Studied abroad at ESCE
Paris and Boston university.
Jannik – Finance
Bachelor of Science in Business Administration,
exchange semester in San Diego, CA, internship
experience in finance, work experience in "Production
and Organization" at LMU Munich
Maria Teresa – Sales & Marketing
Bachelor in Management in Lisbon, Erasmus in Buenos
Aires. Internship in Investment Banking in London. 1
year at Corporate Finance at EDP, in a renewable
energy company in Madrid.
Mauro – Operations
Degree in Communication and Engineering from the
Universidad Pontificia do Rio de Janeiro. Academic and
professional international experiences in USA, China
and the UK.
Chawki – Public Relations
Bachelor of business administration and management.
Minor in Finance and Accounting from Saint Joseph
University of Beirut.

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10.Annex II: Financial Projections
Three scenarios: Optimistic, Pessimistic, No financing General assumptions
EXPENSES
MKT Expenses Year1: 15000€
Start with 2 management
salaries and 5 packaging
Salaries: 85000€
Travel expenses, rent related
expenses, training
Other expenses: 43000€
Insurance, legal obligations
General and Admin: 500€
Rent: 144000€
PRODUCTION
Avg. Cost 5,4€: (0,40 per box,
2,50 for tampons, 2 for
shipping, 50 Cent for
surprises)
Average Price: 11€
FINANCIAL
Loan: 5000€
(Installment of 1000€)
Equity: 300000
Interest expense:
Year 1: 2000
Year 2: 1600
Year 3: 1200
Year 4: 800
Year 5: 400
Year 6: 0