Background for Questions 1 and 2: Numerous studies indicate that consumers are increasingly spending more on health and wellness. In particular, wellness is a concept which addresses both our physical and mental wellbeing. McKinsey & Co noted that as of July 2021, the global health and wellness market was US$1.5 trillion, with a projected annual growth of 5% to 10%. In particular, their research indicated that consumers are most interested in six (6) health and wellness categories: health, fitness, nutrition, appearance, sleep, and mindfulness. Scott Melville, the CEO of the Consumer Healthcare Products Association in the United States, emphasised that self-care is a key pillar of the future of health and wellness. There is a significant upward trend in consumers wanting to take charge of their health, with a focus on prevention (rather than treatment). In this respect, technology has provided consumers with access to a wide range of information and enabled them to make choices about their own healthcare and wellness. In Singapore, the Ministry of Health announced on 9 March 2022 that it will redouble efforts to promote overall healthier living, including working with community partners, Health Promotion Board, Peoples Association (PA), SportSG, National Parks Board and other stakeholders to build a health and social ecosystem to help the population keep healthy and well. Singapore Tourism Board has also remarked that the growing popularity of health and wellness extends to the tourism sector. There is an increasing number of travellers who desire to maintain or improve their healthy habits while travelling, giving rise to valuable partnerships between the hospitality industry and the health and wellness industry. The following articles can provide you with further insights and statistics into the health and wellness industry in Singapore: Singapore Comes Together To Celebrate 20 Years Of Healthy Lifestyle From Wellness To Wealth: 11 Innovative Wellness Startups To Watch In 2020

Personnel (such as number, expertise and skillsets of staff) to implement the proposed marketing plan. (25 marks) (b) Prepare a projected profit & loss (income) statement, balance sheet and cashflow statement, on a quarterly basis, for your proposed business over the three-year period. For the purposes of this GBA, you will have to submit the following documents via the relevant Canvas links: (i) the Excel workbook (.xlsx); and (ii) the GBA report (.doc or .docx) For the purposes of the profit & loss (income) statement, balance sheet and cashflow statement, you can make the following assumptions: A. The initial three (3) months of operation is the gestation period of the new start-up related to, for example, staff recruitment, marketing, inventory (if any) and other business set-up matters. Revenues will be recorded from the fourth month onwards in the financial statements. B. An average credit term of 30 days from suppliers. C. The depreciation for capital investment (if any) is a straight line over three (3) years. You can make other reasonable assumptions, such as cost of goods and/or services, minimum order quantities, inventory turnover days, account receivables days, rental, utilities, interest for loans, inventory storage costs, sales and general administrative costs, salaries and insurance expenses, with supporting explanations and justifications. Remember to state your assumptions clearly in financial statements. (30 marks) (c) Using the graphical method, apply the break-even analysis and identify the break-even point (in terms of the number of units to be sold and the number of months) within the three-year period.