A Business Plan on Unique Furniture in Bd

Yes, We atomic number 18 extraordinary Prep ard by dread(a) hustling FOR Mr. Md. Bodiruzzaman Guest subscriber Department of Business Administration Dhaka City College, Dhaka PREPARED BY multitude Name Desperate Batch XI , subsection A Dhaka City College, Dhaka. DATE OF SUBMISSION November 29 2012 Group Information Group Name Desperate List of Group Members SerialNo. solely-embracing Name ID 01 Abu-Bakar-Siddique 13 02 Md. Shohel Perves 15 03 Md. Nasim Miah 35 04 Md. Rakibul Alam 57 Letter of transmittance To Mr. Md. Bodiruzzaman Lecturer Department of Business Administration Dhaka City College, DhakaSubject To throw in the A Comprehensive Business visualize on Paper authorise article of piece of article of article of furniture Sir, We respectfully state that you establish assigned us to economize the A Comprehensive Business intend on Paper make furniture. To set up this cut across we rich person reserven our stovepipe effort. However, as we be student and still in learning process in that location may countenance most lacking, limitations and errors in this radical. We atomic number 18 very a good deal grateful to you for giving us the opport consent to find out and generate out knowledge on this aspect of Paper do piece of furniture in Bangladesh. Preparing this assignment is an experience for us which service of processs us in our practical vivification.We would worry to thank you for providing us with such opportunity. Sincerely yours, (Md. Shohel Perves) On behalf of Group Desperate Student declaration We be declaring that the c all over on the topic of A Comprehensive Business Plan on Paper made furniture has hardly been prep bed for the partial fulfillment of the course indispensability of Entrepreneural Development. decision maker Summary uncommon furniture is the biggest private furniture produce midpoint in Bangladesh. unequaled Furniture understands tribes need best and go forth create and forg et appropriate reaping services to cleanse citizenrys life and make it easier.The ingredients of the Unique Furniture argon basically paper and barley. We ar not only the producer of furniture just in addition the admitr of better service to the furniture. Unique furniture is doing its best to fulfill the wishes of sight. Unique furniture has 5 furtherrs who leading promote this business. These owners are in high spiritsly qualified and experienced. Unique furniture is masterlyly a private corporation and promoters are break upnt becoming. carry on this solvency is not enough for our business. So our 60% crown is external and 40% capital is knowledgeable. Unique furniture follows strict rules al looks. We are liable to provide quality point of intersections.To make a commercializeing plan firstborn of all erratic furniture had to look on the current market stance, products, competitors etc. Moreover unique furniture has al locate enough specie for adverti sing and public relation. pecuniary Plan is one of the main(prenominal) portions of our business. These are mainly technical terminuss of sales, agent of financing, profitability objection etc. The initial cost of project is maximal as per the fare cost of project concern which is Tk. 403,55,00,000. In the term of estimates of sales, its accessories determine is like present selling price. We know overly roughly labor and rent be.Unique furniture target of profit mark up is 30%. Unique furniture exit make profit Tk. 111,04,12,919 aft(prenominal) 5 years. We hope after this time our company depart be the best private furniture producing company in Bangladesh. In our domain there are many kinds of furniture available in the market. however all are not good quality. On the other bowl over rough(prenominal) are very good quality in the market, just now there price is high. So we launched naked as a jaybird unique furniture which is made by paper. This is high qual ity and also reasonable price. We are certainly if unique furniture comes in the market mountain exit volitionally draw back it and they will be benefited.Acknowledgement First of all we would like to thank the Almighty for giving us strength and the aptitude to complete this report. This report is far from complete consummate(a)ion, but it could not be accomplished without the unity of our team members. We have collected a lot of culture from meshwork and insureed many companies. Anything humanly created in the world is not completely perfect and we are no exception. We apologize if there is any error in this report. Table of Content Chapters Subjects Page No. Part 1 preceding(prenominal) Parts 11-12 1. 1 Introduction 11 1. 2 Objectives of the Report 11 1. 3 Methodology 11-12Part 2 Business Description divide 12-15 2. 1 public Description of the venture 12 2. 2 imaging 12 2. 3 Mission 12 2. 4 Objectives of the company 13 2. 5 Board of Directors 13 2. 5. 1 co ndition and Shareholding Percentage 14 2. 6 Management police squad 14 2. 7 Organization twist 15 Part 3 grocery storeing Plan 16-26 3. 1 electric current Scenario in Bangladesh 16 3. 2 real market stance 16 3. 3 selling plane section 17 3. 4 Sales department 17 3. 5 Financial department 17 3. 6 HR department 18 3. 7 attire compendium 18-20 3. 8 foe synopsis 21 3. STP depth psychology 21 3. 9. 1 Market divider 22 3. 9. 2 design Market 22 3. 9. 3 Market Positioning 22 3. 10 selling Mix Analysis 23 3. 10. 1 result Identification 23 3. 10. 2 determine 23 3. 10. 3 Promotion 23 3. 10. 4 place 23 3. 11 Brand awareness 24 3. 12 marketing and ad 24 3. 13 question synopsis 24-26 3. 14 Corporate favorable responsibility 26 Part 4 Financial Analysis 27-35 4. 1 cost of exteriorize 27 4. 2 Financial Plan and impart Requirement 28 4. 3 Means of pay 29 4. 4 Working Capital Requirement and Its Financing 30 4. Cost of Project Calculation 31 4 . 6 Income line of reasoning (One Year) 32 4. 7 project Income Statement 33-34 4. 8 Cash Flow Statement 34 4. 9 Balance Sheet 35 Part 5 mending Analysis 36 5. 1 Location Description 36 Part 6 Risk Analysis 37 6. 1 Risks & Remedies 37 6. 1. 1 Risks 37 6. 1. 2 Remedies 37 Part 7 last 38-40 7. 1 Conclusion 38 7. 2 Recommendation 39 7. 3 Bibliography 39 7. 3. 1 Reference of Books 39 7. 3. 2 Reference of Web-Sites 39 7. 3. 3 Product samples 40 Part 1 Prefatory Parts 1. 1 Introduction beforehand outset our journey we call for to go away you some nurture of the current situation of furniture sector in Bangladesh. If we see the last year statistics which is provided by Statistic Bureau of Bangladesh that, we advise say one company called Otobi. Unique Furniture understands hoi pollois need best and will create and deliver appropriate product services to improve peoples life and make it easier. The ingredients of the Unique Furniture are basically paper and barley. 1. 2 Objectives of the Study * To make the use of paper made furniture popular. * To provide brief information about our company and services. To analyze the sections of the project as example Marketing, Finance etc. * To start a pilot project from the village named Dendabor at Savar 1. 3 Methodology To organize this report we selected some primary and secondary data sources. To gather the prime information we had to prepare questionnaires and also had to visit the organizations to obtain information through oral oppugns. This report has been prepared by preserving following steps * At first we delineate the theoretical and historical perspective of the report. * We collected a lot of information from the external reports and internet. Then we take help from our teachers and the students of previous batches. * We took authorization to visit a company and lastly we have visited it. * We got different kind of information through oral interviews. * As a final point we delivered our testi mony Part 2 Business Description Segment 2. 1 General Description of the Venture (Product or Service) We are going for launch a production of equipments that can produce furniture from the paper. We will also commit Home service those will provide services to our guests. Customers satisfaction is our main objective. 2. 2 VisionWe are the new furniture solution provider in Bangladesh achieving our business vision through growth in market reach, increase operation size, international distribution, total service and consistent chumping activities by the being most customers focused Innovative, cost effective efficient, environmentally accountable quality concerned company in the business. 2. 3 Mission To be the most consumer-focused, competitive, efficient, innovative, and environmentally responsible and quality concerned leading market oriented furniture manufacturer, sales and distributor of Bangladesh by the year 2014. . 4 Objectives of the Company * Generate and provide reas onably priced furniture to our customers. * Efficient usage of Capital, Machineries, Material and Human Resources. * Continuous improvement of customer satisfaction and imagery management. * Produce low cost furniture. 2. 5 Board of Directors Md. Rejaul Karim Vice- moderate Md. Foysal Director Md. Abdul Aziz Chairman Md. Asikollah supervisor Md. Yeasin Director Shahjada Yeasir Arafat Shuvo Supervisor Farzana Amin Director Md. Rafiqul Islam Supervisor 2. 5. 1 Status and Shareholding Percentage Name Status Shareholding PercentageMd. Abdul Aziz Chairman 25% Md. Rejaul Karim Vice-Chairman 15% Md. Foysal Director 15% Md. Yeasin Director 15% Farzana Amin Director 15% Shahjada Yeasir Arafat Supervisor 05% Md. Asikollah Supervisor 05% Md. Rafiqul Islam Supervisor 05% Total deoxycytidine monophosphate% 2. 6 Management Team Md. Abdul Aziz Chairman Md. Rejaul Karim Vice-Chairman Farzana Amin Director (HRM) Md. Yeasin Director (Marketing) Md. Foysal Director (Finance) 2. 7 Organization mental synthesis Office Staffs (40 People) Share Holders Board of Directors Managing Director General Manager secretarial assistant Sales ManagerProduction Manager acquire Manager Production associating Staffs (5 people) Sales associating Staffs (5 people) Purchase associating Staffs (5 people) Sales Executives (3 people) Purchase Executives (3 people) Salesman (36 people) Salesman (36 people) Super visors (5 people) Salesman (1000 people) Part 3 Marketing Plan 3. 1. Current Scenario in Bangladesh Bangladesh is a developing country. Most of the people cherished to change their house with furniture. But they cant properly decorate their house because of high priced furnitures which are already existed in Bangladesh.So we have a plan to produce furniture from papers which will be lower priced than the other furnitures. Now people are thinking Unique furniture, people are thinking about how to economize money. Now has become a primary need of our customer. So we want to create som ething new for our business plan and that can also help our society. Some companies like Otobi, Hatil, Pertax are providing the facilities of producing furniture from the wood. But the advantage cannot reach to the people of rural areas. Based on this positive information we are planning to make a project of producing furniture from papers.We hope it will get a good market inside our country. Unique furniture will produce huge quantity of furniture that will hurt the need of our country. 3. 2 Current market situation largess situation of furniture is high priced. Increasing price of furniture has become special K word now. We have a plan to provide furniture all over the country but gist and upper warmheartedness crystallize are our target customers. Some companies are providing facility, but it is less than the demand. Present situation is perfect for this business. Paper made furniture is quite new idea, but we will introduce this to the rural and urban people.We think peopl e will appreciate it and their hope is our inspiration. 3. 3 Marketing Department Marketing department reports to Sales and works closely with the business line heads, the product ripening team and Customer Service team globally. The role involves a high level of market sizing and data analysis projects with the objectives of identifying opportunities and risks and forming strategical recommendations to senior management and ideas to satisfy the economic. Here are also some objectives of our marketing department- * Focus on electrical capacity optimization and assigning capacity to potential customer to condition the highest revenue. Credit monitor, notify customer and ensure superior services delivery to our customer. * To develop mutual business benefits. * devise with other departments (i. e. adept, Billing and Finance) to maintain smooth operation. 3. 4 Sales department Our sales department has some different objectives. The objectives of our sales department are given bel ow * To achieve sales target. * To ensure overall supremacy and customer satisfaction. * Develop new market segments and expand the existing market. 3. 5 Financial DepartmentFinance department function in our Unique Furniture are being the budgeting and forecasting investment decision do raising and allocation fund. * To handle companies TAX VAT issues. * Finalize of the controversy of income expenditure. 3. 6 HR Department The objectives of HR department are * take recruitment selection process by using external /internal sourcing channels and deliver resources on time as per plan though following all stages. * Handle contract renewal management. * Keep update all personal files of expatriates local employees. 3. 7 SWOT Analysis SWOT Analysis Strengths OpportunitiesWeaknesses Threats The following is a SWOT analysis as it applies to the Unique Furniture Strengths 1. Sell reasonable and quality products 2. Long durability of the Furnitures 3. Fulfill with modern furnitures . Weaknesses 1. Lack age of ad 2. Lacking of relation with customers 3. New idea Opportunities 1. Use of all types of papers. 2. Creating to a greater extent(prenominal) job opportunity 3. Rapid industrialization and urbanization 4. Increasing living(a) standards of rural areas. 5. Be a number one brand in furniture sector 6. Providing quality furniture all over the country. Threats 1. ordain be highly competitive market 2. Change of environment 3.Achieving people faith. MarketingParticulars Performance Importance MajorStrength MinorStrength Neutral MinorStrength MajorStrength High Mid Low 1. Companyreputation Yes v 2. Marketshare Yes v 3. Customersatisfaction Yes v 4. Productquality Yes v 5. Servicequality Yes v 6. Pricingeffectiveness Yes v 7. Promotioneffectiveness Yes v 8. Distributioneffectiveness Yes v 9. Sales forceeffectiveness Yes v 10. Innovationeffectiveness Yes v 11. Geographicalcoverage Yes v 2. Cu stomerretention Yes v SWOT analysis tableThis SWOT analysis is apply for Unique furniture We have an opportunity to create good position and reputation in market. It is only possible when we can solve our all problems and give to a greater extent tutelage on our job. 3. 8 Competitor Analysis Furniture business in Bangladesh is highly competitive. As a new furniture company we have also some competitor. They are 1. Otobi furniture 2. Partex furniture 3. Talukdar farniture 4. Hatil furniture and so on. First competitor for unique furniture is Otobi furniture. Which is leading furniture company in Bangladesh.To become a leading company in Bangladesh we have to compete with these existed furniture company. 3. 9 STP Analysis Marketing strategies The wide-cut marketing process 3. 9. 1 Market Segmentation Three types of people live in our society upper enlighten, middle class, and poor. So we also segment our product, price, and market into three groups. We think this marketing me thod will ideally work. Because different person have different status and parching power. Segmentation is the key to reach them. We segment our product for all kinds people in our society. Here is our target market level 1. Lower class 2.Lower middle class 3. Middle class 4. Upper class 3. 9. 2 Target Market Most of the people in our society are middle and upper middle class. So our first target is to catch the market of middle and upper middle class people. We will also provide our facilities to the rich people. After fulfilling their demand we will provide our business to the move and factories. 3. 9. 3 Market Positioning Reputation of an institution depends on its quality. We give our first priority to the quality of product. Maintaining quality of product is the only way to achieve the faith of customers and their faith makes our position in the market. . 10 Marketing Mix Analysis 3. 10. 1 Product Identification Most of the equipment that can produce furniture from the papers will be made by us like sofa, chair, table, dining table, reading table, Corner set, book ego etc. To produce furniture from papers we need some more products like paper, barley, color, fig, etc and we purchase this from other companies. 3. 10. 2 Pricing At first our target is to reach furniture to the middle and upper middle class customers, so our price should be low. After reaching to the target we go down our price based on market demand. 3. 10. 3 PromotionWe have a plan to make furniture which will make by papers. But now we are focus on our present activities to promote the productiveness of furniture from papers. After promoting this we will focus on other matters. 3. 10. 4 Place Place means not just the locations of producer facilities, but the locations of all points of sale at which customers may have access to the product or service. Thats why we are going to set up our organization at Savar. We will serve our services to the rural areas of our country. 3. 11 Brand awa reness Most people believe in brand. Because brand gives them warranty and make them confident.We have some competitor in the market and they are brand companies like Otobi, pertex, talukdar, Hatil etc. But many people dont know about their new service of renewable energy. So if we provide more equipment in a short time and advertise more than our business will get a brand name. 3. 12 Selling and Advertising At first we will sell our products base on our customers demand. We dont recruit any dealer for our product. We will sell our product from our sales centre. First time advertising cost will be more and we have to make peoples interest on our product.We will use TV, Radio, newspapers and pamphlet for our advertising, because these are the most modern and common means of advertising. 3. 12 slogan and Logo Our Slogan is Yes, we are Unique Our Logo is 3. 13 Research analysis Population The population of this query project has defined as follow 1. Elements All types of people who living within the Dhaka City. 2. ingest units All types of people ( Customer and Retailer) 3. Sampling Frame The distributors and retailers which are located in Uttara, Gazipur, Nilkhet those who are selling different types of furniture. They are the take in frame of research project. Primary data collected from 1. Retailers 2. Customer of other furniture Company. 3. Different types of people * Sample size As the population of this research project is 100 (50 Customers and 50 Retailers). * Sampling procedure Among probabilistic sampling methods, simple random sampling procedure has been used in nightclub to select sampling units from population. * Survey Process Through face-to-face interview the survey process will be done. * Data processing and Analysis Based on variables, researcher will analyze all the data basically throughout the subsequent style 1.Descriptive statistics to identify users categories. Instrumentation Through questionnaires and face to face interview. Activ ity To prepare this report we survey market many days. We have some question to the customer and retailers when we survey. The customer and retailers personal interview and question will be show in this chart 3. 14 Corporate amicable Responsibility We live in a society. We do business for the using of our society. So every business has some complaisant responsibility. Our business has also social responsibility. By using our furniture people can save money but they will get well services from us.We will also spend 5% profit of our business for social development. With this money we will start Tree Plantation Program all over the country and try to fulfill the required 25% forest of our country. It is not possible right now, but we will try our best to complete this work within next20 years. We will also give merit comprehension to the poor meritorious students that they can continue their study. Every year we will take new program to develop our society and that is our corporate social responsibility in marketing. Part 4 Financial Analysis 4. 1 Cost of Project Making a place is very authorised for any kinds of business work.We have selected our industrial area at Saver. We have bought a land by loan. Our business construction has been already finished. The total cost of the project will be estimated at TK 30, 00, 00,000. The details costs of the project are as follow as- Particulars Taka go through and site development 8,00,00,000 Building 2,00,00,000 Machinery 16,00,00,000 Technical expenses 10,00,000 Pre-operative expenses 20,00,000 Working capital 370,00,000 Total 30,00,00,000 4. 2 Financial Plan and Loan Requirement Particulars Owners Equity aver Loan Total Land and site development 8,00,00,000 8,00,00,000Building 2,00,00,000 2,00,00,000 Machinery 16,00,00,000 16,00,00,000 Technical Expenses 10,00,000 10,00,000 Pre-Operative Expenses 20,00,000 20,00,000 Working Capital 3,70,00,000 3,70,00,000 Total 12,00,00,000 18,00,00,000 30,00,00,000 P ercentage 40% 60% 100% 4. 3 Means of Financing Company/Our institution will take 40% as owners equity and other 60% will be taken as lodge loan. The loan amount is 18, 00, 00,000 and 12, 00, 00,000 is the equity capital of Unique Furniture Ltd. 4. 4 Working Capital Requirement and Its Financing Particulars Amount (TK) NumberRaw materialsStocks of goods in processStocks of finished goodsoperating(a) expensesTotal 20,50,0006,00,0004,00,00033,333 30,83,333 4. 5 Cost of Project Calculation Capital requirement Amount Amount amend AssetLandBuildingMachineryTotal Fixed AssetPre-operative expensesTechnical expensesWorking CapitalRaw materialsWork-in-processFactory overheadTotal Working CapitalTotal working requirement 8,00,00,0002,00,00,00016,00,00,000 26,00,00,00020,00,00010,00,0003,70,00,00030,00,00,000 2,00,00,0001,00,00,00070,00,000 4. 6 Income Statement (One Year) Particulars Amount (TK) Amount (TK)Sales (30% Mark Up) slight Cost of production Raw materials Work-in- p rocess Factory overhead earthy fruitless Administrative expenses Selling expensesTotal administrative selling expenses Net Operating profitsLess Financial expenses Depreciation Earning before TaxLess InterestLess Tax (25%) Profit after Tax 394,55,00,0002,45,00,0003,00,00,000 512,91,50,000400,00,00,000 60,50,00,00020,00,50,0008,11,00,0001,30,00,000 112,91,50,00080,50,50,000 32,41,00,0009,41,00,000 23,41,00,0002,70,00,000 20,71,00,0005,17,75,000 15,53,25,000 4. 7 Projected Income StatementParticulars Year-2013 Year-2014 Year-2015 Year-2016 Year-2017 Sales (30% Mark Up))Less Cost of productionGross ProfitLess Administrative expenses Selling expenses Net Operating ProfitLess Financial expenses DepreciationEarning Before TaxLess InterestLess Tax (25%)Profit After Tax 512,91,50,000400,00,00,000 615,49,60,000480,00,00,000 738,59,76,000576,00,00,000 886,31,71,20069120,00,000 1063,58,05,440829,44,00,000 112,91,50,00060,50,00,00020,00,50,000 135,49,80,00060,50,00,00020,00, 50,000 162,59,76,00060,50,00,00020,00,50,000 195,11,71,20060,50,00,00020,00,50,000 234,14,05,44060,50,00,00020,00,50,000 32,41,00,0008,11,00,0001,30,00,000 54,99,30,0006,73,13,0001,30,00,000 82,09,26,0005,58,69,7901,30,00,000 114,61,21,2004,63,71,9261,30,00,000 153,63,55,4403,84,88,6991,30,00,000 23,00,00,0002,70,00,000 6,96,17,0002,29,95,107 69,61,86,4201,83,89,481 108,67,49,2741,30,93,010 148,48,66,74170,02,069 20,71,00,0005,17,75,000 44,66,21,89311,16,55,473 67,77,96,93916,94,49,235 107,36,56,26426,84,14,066 147,78,64,67236,94,66,168 15,53,25,000 33,49,66,420 50,83,47,704 80,52,42,198 110,83,98,504 4. 8 Cash Flow Statement Particulars Year-2013 Year-2014 Year-2015 Year-2016 Year-2017 Profit After Tax 15,53,25,000 33,49,66,420 50,83,47,704 80,52,42,198 110,83,98,504 Add Depreciation 1,30,00,000 1,30,00,000 1,30,00,000 1,30,00,000 1,30,00,000 Total Profit 16,83,25,000 34,79,66,420 52,13,47,704 81,82,42,198 112,13,98,504 4. 9 Balance Sheet Description Amo unt (Tk) Amount (Tk) Current assetsCashAccount receivablesInventoriesFixed assetsLandLess DepreciationBuildingLess DepreciationMachinery Less DepreciationTechnical ExpensesPower GridLess DepreciationPre operating costTotal AssetsLiabilitiesAccounts payableTaxLong term liabilitiesLong term bank loanLess 1st InstallmentOwners equityTotal Liabilities 12,00,00,0002,10,00,0005,00,00,000 15,10,00,0005,60,00,0001,90,00,0009,50,00,00010,00,0005,70,00,0002,00,0,00040,00,00,000 12,66,99,28415,33,00,71612,00,00,00040,00,00,000 8,00,00,0002,40,00,000 4,00,00,0002,10,00,000 10,00,00,00050,00,000 6,00,00,00030,00,000 7,49,24,2845,17,75,000 18,00,00,0002,66,99,284 Part 5 Location Analysis 5. 1 Location Description Location Address 112B, Nabinagar, Dendabor Bazar, Savar-Dhaka. Area 35100 sft. Price of the Land Tk. 8,00,00,000Owner of the Land Unique Furniture Ltd. Co. Part 6 Risk Analysis 6. 1 Risks & Remedies 6. 1. 1 Risks * Its a new business, people hardly recognize about it. * Lacking of relation with customers 6. 1. 2 Remedies * We have to make people concern about our service. * Home service employees should do their duties responsibly. Part 7 Conclusion 7. 1 Conclusion In our country there are many kinds of furniture available in the market. But all are not good quality. On the other hand some are very good quality in the market, but there price is high. So we launched new unique furniture which is made by paper. This is high quality and also reasonable price.We are sure if unique furniture comes in the market people will willingly take it and they will be benefited. 7. 2 Recommendation * It is naturally difficult to launch a new product, as new company unique furniture has some limitation. * We will try our best to find out our problem and we solve our problem very soon * Customers are always welcome to give their comments * We are always ready to solve customer problems 7. 3 Bibliography 7. 3. 1 Reference of Books * Entrepreneural Development By A A Khanka * Business morals & Applications for Higher Secondary 1st & 2nd Paper By Md. Khalekuzzaman 7. 3. 2 Reference of Web-Sites * www. google . com * www. ask. com * www. wikipedida. com 7. 3. 3 Product Samples