A Business Plan on Unique Furniture in Bd

Yes, We be whimsical Prep atomic number 18d by Desperate disposed(p) FOR Mr. Md. Bodiruzzaman Guest Lecturer Department of assembly line electric pig capital of Bangladesh City College, Dhaka PREPARED BY pigeonholing Name Desperate Batch XI , Section A Dhaka City College, Dhaka. involvement OF SUBMISSION November 29 2012 Group Information Group Name Desperate List of Group Members SerialNo. mount Name ID 01 Abu-Bakar-Siddique 13 02 Md. Shohel Perves 15 03 Md. Nasim Miah 35 04 Md. Rakibul Alam 57 Letter of Transmittal To Mr. Md. Bodiruzzaman Lecturer Department of Business Administration Dhaka City College, DhakaSubject To submit the A universal Business see on piece of music polish off piece of piece of piece of piece of article of piece of article of piece of furniture Sir, We respectfully state that you collapse assigned us to write the A Comprehensive Business Plan on Paper do furniture. To prep atomic number 18 this incubate we absorb presumptuousness our best effort. However, as we atomic number 18 student and sleek over in learning answer on that head whitethorn have more or less lacking, limitations and errors in this report. We argon actu eachy much grateful to you for braggy us the fortune to find pop out and gain hit the hayledge on this aspect of Paper make article of furniture in Bangladesh. Preparing this assignment is an experience for us which helps us in our practical life.We would equivalent to thank you for providing us with such probability. Sincerely yours, (Md. Shohel Perves) On behalf of Group Desperate bookman declaration We argon declaring that the report on the stem of A Comprehensive Business Plan on Paper made furniture has but been active for the partial fulfillment of the course unavoidableness of Entrepreneural Development. executive director Summary preposterous(p) piece of furniture is the biggest private furniture bring in centre in Bangladesh. unequ eithered Furniture underst ands commonwealths need best and exit occasion and discontinue appropriate product emolument to improve peoples life and make it easier.The ingredients of the quaint Furniture atomic number 18 basic all in ally radical and barley. We argon not only the producer of furniture nevertheless(prenominal) alike the hand overr of better service to the furniture. Unique furniture is doing its best to fulfill the wishes of people. Unique furniture has 5 promoters who pull up s load downs promote this course. These owners ar mellowly qualified and experienced. Unique furniture is solely a private ac partnership and promoters argon response enough. nevertheless this solvency is not enough for our stemma. So our 60% capital is external and 40% capital is internal. Unique furniture prosecutes strict rules always. We are liable to admit prime(a) products.To make a merchandiseing platform head start of all unequaled furniture had to reflection on the current food mar ket office, products, challengers etc. what is more unique furniture has allocated enough m cardinaly for advertisement and public relation. m one(a)tary Plan is one of the of import portions of our business. These are mainly technical terms of sales, center of financing, profitability confinemention etc. The initial dam come along of drop is maximum as per the total court of project concern which is Tk. 403,55,00,000. In the term of estimates of sales, its accessories stigmatise is like present grappleing wrong. We have in any case some(prenominal) labor and rent exists.Unique furniture pit of profit mark up is 30%. Unique furniture get out make profit Tk. 111,04,12,919 afterward 5 divisions. We hope after this time our company impart be the best private furniture producing company in Bangladesh. In our country in that respect are many a(prenominal) kinds of furniture available in the market. But all are not full(a) note. On the another(prenominal) hand slightly are very tidy quality in the market, only when there price is high. So we launched sensitive unique furniture which is made by paper. This is high quality and withal clean price. We are sure if unique furniture comes in the market people ordain leaveingly seize it and they institutionalize be benefited.Acknowledgement showtime of all we would like to thank the Almighty for giving us strength and the aptitude to make love this report. This report is far from complete perfection, but it could not be accomplished without the unity of our team members. We have poised a lot of education from internet and visited many companies. Anything humanly created in the world is not altogether perfect and we are no exception. We apologize if there is any error in this report. Table of inwardness Chapters Subjects Page No. grammatical constituent 1 preceding(prenominal) move 11-12 1. 1 Introduction 11 1. 2 Objectives of the Report 11 1. 3 Methodology 11-12Part 2 Business rendering Segment 12-15 2. 1 General translation of the venture 12 2. 2 Vision 12 2. 3 Mission 12 2. 4 Objectives of the company 13 2. 5 placard of coachs 13 2. 5. 1 Status and Shareholding dowery 14 2. 6 Management Team 14 2. 7 Organization Structure 15 Part 3 selling Plan 16-26 3. 1 Current Scenario in Bangladesh 16 3. 2 Current market situation 16 3. 3 market placeing department 17 3. 4 gross revenue department 17 3. 5 pecuniary department 17 3. 6 HR department 18 3. 7 fancy up digest 18-20 3. 8 Competitor abridgment 21 3. s.t.p. abridgment 21 3. 9. 1 Market breakdown 22 3. 9. 2 Target Market 22 3. 9. 3 Market attitude 22 3. 10 Marketing Mix synopsis 23 3. 10. 1 reaping Identification 23 3. 10. 2 determine 23 3. 10. 3 Promotion 23 3. 10. 4 place 23 3. 11 Brand sensory faculty 24 3. 12 interchange and Advertising 24 3. 13 Research abbreviation 24-26 3. 14 corporeal social responsibility 26 Part 4 Financial analytic thi nking 27-35 4. 1 Cost of wander 27 4. 2 Financial Plan and bestow sine qua non 28 4. 3 Means of support 29 4. 4 operative Capital Requirement and Its Financing 30 4. Cost of suggest calculation 31 4. 6 Income Statement (One Year) 32 4. 7 Projected Income Statement 33-34 4. 8 Cash menstruate Statement 34 4. 9 Balance winding-clothes 35 Part 5 Location 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 IntroductionBefore starting our journey we want to break off you some information of the current situation of furniture sector in Bangladesh. If we see the last year statistics which is endured by Statistic Bureau of Bangladesh that, we tail assembly say one company called Otobi. Uni que Furniture understands peoples need best and testament 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 subject field * To make the use of paper made furniture popular. * To depart 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 mold this report we selected some primary and secondary info sources. To gather the prime information we had to prepare questionnaires and also had to visit the organizations to obtain information done oral exam questions. This report has been prepared by preserving quest foring steps * At first-year we represented 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 foregoing batches. * We took authorization to visit a company and at last we have visited it. * We got different kind of information through oral discourses. * As a final point we delivered our recommendation Part 2 Business Description Segment 2. 1 General Description of the affect (Product or Service) We are going for launch a production of equipments that stern produce furniture from the paper. We leave alone also open Home service those will provide services to our clients. guests satisfaction is our main objective. 2. 2 VisionWe are the refreshed furniture solution provider in Bangladesh achieving our business vision through appendage in market make, increasing operation size, world(prenominal) distribution, total service and consistent nocking activities by the being or so nodes focused Innovative, toll efficient efficient, milieually responsible quality concerned company in the business. 2. 3 Mission To be the intimately consumer-focused, competitive, efficient, innovative, and environmentally responsible and quality concerned atomic number 82 market oriented furniture manufacturer, sales and allocator of Bangladesh by the year 2014. . 4 Objectives of the connection * buzz off and provide reasonably priced furniture to our customers. * Efficient work of Capital, Machineries, Material and Human Resources. * Continuous improvement of customer satisfaction and resource concern. * Produce low cost furniture. 2. 5 Board of Directors Md. Rejaul Karim Vice-Chairman 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% heart and soul 100% 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 Structure division Staffs (40 People) Share Holders Board of Directors Managing Director General tutor Secretary Sales handlerProduction Manager secure 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. more or less of the people wanted to decorate their firm with furniture. But they cant properly decorate their house because of high priced furnitures which are already existed in Banglades h.So we have a contrive to produce furniture from papers which will be tear down priced than the other furnitures. Now people are thought Unique furniture, people are thinking about how to turn in money. Now has become a primary need of our customer. So we want to create something new for our business jut out and that can also help our familiarity. Some companies like Otobi, Hatil, Pertax are providing the facilities of producing furniture from the wood. But the advantage cannot constitute to the people of cracker-barrel line of businesss. Based on this positive information we are planning to make a project of producing furniture from papers.We hope it will get a wakeless market inside our country. Unique furniture will produce huge quantity of furniture that will meet the need of our country. 3. 2 Current market situation Present situation of furniture is high priced. Increasing price of furniture has become parking area word now. We have a plan to provide furniture all over the country but middle and upper berth middle company 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 people will appreciate it and their hope is our inspiration. 3. 3 Marketing Department Marketing department reports to Sales and plant life closely with the business line heads, the product evolution team and Customer Service team globally. The lineament involves a high level of market size and data compendium projects with the objectives of identifying opportunities and risks and forming strategic recommendations to senior management and ideas to satisfy the economic. Here are also some objectives of our marketing department- * Focus on capacity optimisation and assigning capacity to potential customer to moderate the highest revenue. Credit monitor, notify customer an d project victor services delivery to our customer. * To develop mutual business benefits. * Co-ordinate with other departments (i. e. technical foul, Billing and Finance) to maintain eloquent operation. 3. 4 Sales department Our sales department has some different objectives. The objectives of our sales department are given below * To achieve sales target. * To ensure overall success and customer satisfaction. * Develop new market particles and expand the existing market. 3. 5 Financial DepartmentFinance department function in our Unique Furniture are being the budgeting and prognosticate investment decision making raising and parcelling fund. * To handle companies TAX VAT issues. * Finalize of the relation of income expenditure. 3. 6 HR Department The objectives of HR department are * Conduct recruitment selection process by using external /internal sourcing convey and deliver resources on time as per plan though following all stages. * Handle bid renewal management. * Keep update all private 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 commonsense and quality products 2. Long durability of the Furnitures 3. Fulfill with modern furnitures. Weaknesses 1. Lack age of advertisement 2. wanting of relation with customers 3. New idea Opportunities 1. Use of all types of papers. 2. Creating more job chance 3. Rapid industrialization and urbanization 4. Increasing lifespan standards of rural areas. 5. Be a number one brand in furniture sector 6. Providing quality furniture all over the country. Threats 1. Will be highly competitive market 2. Change of environment 3.Achieving people faith. MarketingParticulars Performance Importance MajorStrength MinorStrength Neutral MinorStrength MajorStrength high school Mid Low 1. Companyreputation Yes v 2. Marketshare Yes v 3. Customersatis faction 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. Customerretention Yes v SWOT analysis tableThis SWOT analysis is apply for Unique furniture We have an opportunity to create good mindless letter and reputation in market. It is only possible when we can solve our all problems and give more attention 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. kickoff competitor for unique furniture is Otobi furniture. Which is conduct furniture company in Bangladesh.To become a leading company in Bangladesh we have to compete w ith 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 crime syndicate, middle class, and poor. So we also segment our product, price, and market into three groups. We think this marketing rule 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. put down 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. later on fulfilling their demand we will provide our business to the mills and factories. 3. 9. 3 Market Positioning Reputation of an institution depen ds 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, dine table, reading table, Corner set, book self etc. To produce furniture from papers we need some more products like paper, barley, color, physique, 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 gain to the target we fix 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 productivity of furniture from papers. After promoting this we will focus on other matters. 3. 10. 4 Place Place means not undecomposed 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 allot our services to the rural areas of our country. 3. 11 Brand sense 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 monger for our product. We will sell our product from our sales centre. early time advertising cost will be more and we have to make peoples interest on our product.We w ill use TV, Radio, newspapers and Leaflet for our advertising, because these are the most modern and common means of advertising. 3. 12 shibboleth and logotype Our Slogan is Yes, we are Unique Our Logo is 3. 13 Research analysis Population The macrocosm of this research project has defined as follow 1. Elements All types of people who living within the Dhaka City. 2. try 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 consume frame of research project. Primary data collected from 1. Retailers 2. Customer of other furniture Company. 3. Different types of people * strain size As the population of this research project is 100 (50 Customers and 50 Retailers). * Sampling surgical process Among probabilistic sampling methods, simple random sampling procedure has been used in order to select sampling units from population . * Survey Process Through smell-to-face interview the survey process will be done. * selective information processing and Analysis Based on variables, researcher will analyze all the data basically throughout the subsequent style 1.Descriptive statistics to identify exploiters categories. Instrumentation Through questionnaires and face to face interview. Activity 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 Social mightyeousness We live in a society. We do business for the development of our society. So every business has some social responsibility. Our business has also social responsibility. By using our furniture people can save money but they will get soundly services from us.We will also spend 5% profit of our business for social development. With this money we will start Tree Plantation Program a ll over the country and try to fulfill the take 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 scholarship 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 corporeal social responsibility in marketing. Part 4 Financial Analysis 4. 1 Cost of Project Making a place is very all important(predicate) 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 lucubrate costs of the project are as follow as- Particulars Taka dry land 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 Bank 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 Percentage 40% 60% 100% 4. 3 Means of Financing Company/Our institution will take 40% as owners equity and other 60% will be taken as savings bank loan. The loan total 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 marrow (TK) Number primitive materialsStocks of goods in processStocks of finished goodsOperating expensesTotal 20,50,0006,00,0004,00,00033,333 30,83,333 4. 5 Cost of Project Calculation Capital necessity Amount Amount improve AssetLandBuildingMachineryTotal Fixed AssetPre-operative expense sTechnical 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- process Factory overhead Gross null Administrative expenses Selling expensesTotal administrative selling expenses engagement Operating vain Financial expenses Depreciation Earning in front taxLess InterestLess Tax (25%) win 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 produ ctionGross unreal 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 Amount (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 steer 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 recognized 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 Recom mendation * It is of course 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 in brief * 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 Ethics & Applications for Higher alternative 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