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LETTER OF TRANSMITTAL
April 25, 2013
Mr. Faisal Wali
Lecturer
School of Business
North South University
Plot-15, Block-B, Bashundhara R/A, Dhaka-1229
Subject: Letter of Transmittal
Dear Sir,
With due respect, we are the students of your course titled “Business Ethics” had great pleasure
doing this course with you. Here is the social business plan of “Duronto Maid Service” that we
have selected as our company to start our social business. This report initially contents profile
and initial planning of our company. Then we have analyzed all the aspects of starting a
company including marketing, management and human resource and also forecasted the
financial projections as well to make our plan more accurate and reliable. This report solely
emphasizes on our entrepreneurship efforts and capability of starting up a new and unique social
business in our country.
We are thankful to you for giving us the opportunity to prepare this social business plan. We
assure that any material reproduced in this plan has been fully acknowledged. We look forward
for your acceptance of this plan. If you have any further enquiry concerning any additional
information, we would be very pleased to clarify that.
Jonaid Yousuf Siam Md. Samsur Rahman
Id: 092 0133 030 Id: 083 406 030
Younus Ahmed Ahatashamul Arefin
Id: 091 0820 030 Id: 083 611 030
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ACKNOWLEDGEMENT
We owe a debt of gratitude to all those people without whom this project would have never been
accomplished. These people, not only mentored us but they also made it a point that this plan
becomes a classy piece of business plan and its only their patronage, their mentoring, their
constructive assistance and guidance that has made the project really meaningful and a well
thought out piece of literature.
At first, we would like to express our gratitude to Almighty Allah who has given us the
opportunity to do this social business plan as an integral part of this course and provided us the
strength to complete the project within the stipulated time.
We would like to express our gratitude to Mr. Faisal Wali, Lecturer, School of Business, North
South University for his whole-hearted supervision during the period. It is a great honor for us to
submit this project to him. His suggestion and comments were really a great source of spirit to
make the plan a good one. His enthusiastic support and guidance has inspired us to complete this
task successfully. It would not be possible for us to complete the paper, but for his help. His
continuous and enthusiastic monitoring has motivated us to reach to our goal on time and with
efficiency.
A special thanks to Mr. Rahim Sardar – a permanent resident of Kuril Taltola Bosti who has
helped us to find a problem that the residents of that colony are facing. We have made this social
business plan to solve that problem.
We are also thankful to the authors, whose journals, books we have consulted in preparing this
report. Where this social business plan succeeds we share the credit, where it errors we alone
accept the responsibility.
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EXECUTIVE SUMMARY
Duronto Maid Service Company is like an agency where experience maid are supplied to
different houses in Bashundhara R/A to give better service. There is a huge demand of maid in
Dhaka city. City dwellers always look for maid. But getting a skilled and trustable maid is not
that much easy. On the other hand now-a-days, most of the maid left their jobs to work in the
field to boost their income. Though working in the field is really tuff compare to the job of a
maid for women. Moreover they remained unemployed on an average 3/4 days in each week.
Considering this gap, Duronto Maid Service has taken the initiative to solve this issue through a
social business.
Initial plan of Duronto Maid service is to provide services to the residents of Bashundhara R/A
by creating an employment opportunity to the women of “Kuril Taltola Bosti”.
First of all, we have conducted a primary research (survey and interview) to know the nature and
demand of our business. The results show that there is a huge demand of our business.
We have also conducted industry analysis. After completing all analysis, we have prepared
marketing plan, determined management and operations functions.
We have completed three years projections of major financial statements (Balance Sheet, Income
Statement & Cash Flow statement).We have also calculated the break-even point and some ratios
of our social business.
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TABLE OF CONTENTS
LETTER OF TRANSMITTAL ...........................................................................................................1
ACKNOWLEDGEMENT ...................................................................................................................2
EXECUTIVE SUMMARY .................................................................................................................3
TABLE OF CONTENTS ...................................................................................................................4
1. INTRODUCTION .....................................................................................................................6
Background .............................................................................................................................6
The Logo: ................................................................................................................................7
Name and address of Business .................................................................................................7
Industry and the Type of Business: ..........................................................................................8
Statement of Confidentiality Report: ........................................................................................8
Mission....................................................................................................................................8
Vision ......................................................................................................................................8
2. Research Methodology & Opportunity Analysis ..................................................................9
Definition of Population ..........................................................................................................9
Sampling Design .....................................................................................................................9
Primary Data ......................................................................................................................... 10
Findings ................................................................................................................................ 10
3. INDUSTRY ANALYSIS .......................................................................................................... 16
PESTEL Analysis .................................................................................................................. 16
Porter’s Five Forces Model .................................................................................................... 20
SWOT Analysis ..................................................................................................................... 22
ABELL’s Framework ............................................................................................................ 24
4. MARKETING STRATEGY & PLAN ......................................................................................... 26
Product: ................................................................................................................................. 26
Pricing Method: ..................................................................................................................... 26
Promotion: ............................................................................................................................. 27
5. MANAGEMENT & OPERATIONS ............................................................................................ 33
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Management team ................................................................................................................. 33
Key employee policies ........................................................................................................... 35
Corporate Governance ........................................................................................................... 37
Research and Development .................................................................................................... 38
Facilities ................................................................................................................................ 40
6. FINANCIAL PLAN ................................................................................................................ 43
Sources & Uses of Capital ..................................................................................................... 43
Start-up Requirements ........................................................................................................... 44
Cost Structure ........................................................................................................................ 45
Cash Flow Projections ........................................................................................................... 47
Balance Sheet Projections ...................................................................................................... 48
Income Statement Projections ................................................................................................ 49
Breakeven Analysis ............................................................................................................... 50
Ratio Analysis ....................................................................................................................... 51
7. FUNDING REQUEST & EXIT STRATEGY ................................................................................ 52
Funding request and exit strategy ........................................................................................... 52
8. REFERENCES ....................................................................................................................... 53
9. APPENDIX
Detailed Financial Projections
Picture of Location
Interview Questions [for Maid]
Sample Survey Questionnaire
Survey Responses Summary
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1. INTRODUCTION
Background
Social Business, as the term had once been commonly used, was first defined by Nobel Peace
Prize laureate Prof. Muhammad Yunus and is described in his books Creating a world without
poverty—Social Business and the future of capitalism and Building Social Business—The new
kind of capitalism that serves humanity's most pressing needs.
In Yunus' definition, a social business is a non-loss, Non-dividend Company designed to address
a social objective within the highly regulated marketplace of today. It is distinct from a non-
profit because the business should seek to generate a modest profit but this will be used to
expand the company’s reach, improve the product or service or in other ways to subsidize the
social mission.
In fact a wider definition of social business is likely, including any business which has a social
rather than financial objective.
Social business is a cause-driven business. In a social business, the investors or owners can
gradually recoup the money invested, but cannot take any dividend beyond that point. The
purpose of the investment is purely to achieve one or more social objectives through the
operation of the company, since no personal monetary gain is desired by the investors. The
company must cover all costs and make revenue, but at the same time achieve the social
objective.
The impact of the business on people or environment, rather than the amount of profit made in a
given period measures the success of social business. Sustainability of the company indicates
that it is running as a business.
Our Social Business
During our spring 2013 semester, we visited a slam beside Bashundhara Residential Area,
‘Taltola Bosti’. We visited that place and talked to some residents of that slam. After talking to
them, we got to know that there is an amount of almost 3,000 people and their ‘standard of living
life’ is very poor. Every day, they are facing the problems of poverty, unemployment, illiteracy,
unhygienic environment, malnutrition, inadequate sanitation, drug addiction and so on. The
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people of that area are involved in various occupations, yet they can’t overcome their scarcity.
Our social business purpose is to run such a business regarding reduction of unemployment and
poverty of that area.
The Logo: Our goal is to provide and assist our customers in the excellent service. In this regard, we have
found the following logo that presents our mission statement-
Figure: Logo of Duronto Maid Service
Name and address of Business
Registered State
Duronto Maid Service will be an organization based in Dhaka, apart from that, the organization
will maintain an office in 27 Nordda (near Bashundhara R/A).
Geographic reach
Even though, Duronto Maid Service will maintain its physical operational activities within
Bashundhara R/a. It will try to expand its activities beyond these areas – to the entire country.
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Location – Duronto Maid Service
Main office: 11/ A, Nordda (near Bashundhara R/A)
Training Branch: Kuril Taltola slum
Industry and the Type of Business: Duronto Tourism will focus on providing the customers the unique tourism experience in
the form of adventure tourism the organization’s sole focus will be to serve its customers in
any means that are relevant with their travelling. Hence, it can be concluded, that, Duronto
tourism will operate as a travel agency and tour organizer.
Duronto tourism is not going to trade any material items to its customers. The only thing it
will try to do is serve, its customers the pleasant experience the customers crave for. Based
on this decision, we can say that, Duronto tourism will be a service oriented business.
Statement of Confidentiality Report: Duronto Maid Service is a partnership business. The partners of Duronto Maid Service are-
Jonaid Yousuf Siam.
Md. Samsur Rahman
Younus Ahmed
Ahatashamul Arefin
All the four partners have equal control and majority rules that says 25% for liability. The terms
and condition of the partnership is equal right over the business. If the Business earns a net
profit/ net loss, each partner will not get any profit, Since it is a social business.
Mission To reduce poverty by providing proper employment in people
Vision To enhance our social service all over the country and remove poverty for good.
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2. Research Methodology & Opportunity Analysis
Definition of Population Our population consists of all higher and higher-middle classes of people, which includes
housewife, students, jobholder, businessman etc.
Sampling Design
Sample Size:
The total sample we will be working with is 53. Among them 85% were female and 15% were
male. The entire sampling has been done through an online survey, where the questionnaire has
been distributed through internet. Age groups of the surveyed people are
Age Group Percentage
16 - 20 6%
21-25 33%
26-30 35%
31-35 20%
36-40 4%
41-45 2%
Sampling process:
By the means of Google Docs, a research questionnaire has been developed, where, in most
cases, participants could choose more than one answer and in some occasion they
could choose, more than 1 answer. In this case, they survey questionnaire was distributed by all
four member in the following sources:
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Primary Data
Self-Administered Questionnaire:
Based on the information we need to know in order to add value to our organization, we have
developed a questionnaire (see appendix). The questionnaire will also be self-administered
which means; the respondent will answer the questions themselves.
Street survey and observation:
For gaining an understanding of the cost structure, we asked the wages of different maids.
Secondary Data
Secondary data has been collected from the following sources
Books, journals and article
Internet, websites, online articles
Limitations of the research
Low sample size:
Due to time constraints, only a sample size of 53 respondents from the customer segment has
been included.
Respondent errors:
The respondent may be showed unwilling or unable to provide accurate answers due to the
impact of several environmental factors.
Findings Maid providing service will be a unique service in Bangladesh. It will help our society too. In
our society maid is common and we have found that there are crisis for maid. When a family
hires a maid then it takes lots of time to trained them, when people will hire from Duronto Maid
Service then they will get trained maid. As Duronto Maid Service is a social business farm so it
will also create hype among people those who needs for maid.
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92%
8%
Do you have a maid in your house?
Yes
No
In Bangladesh, many people are poor. By creating social business poverty can be cured. Duronto
Maid Service is a company which will help the poor people and on the other hand it will help the
general people too. Before opening a new business it is necessary to conduct a research. As the
initial plan to open the company in Bashundhara residential area, that’s why the research has
been conducted in the Bashundhara area. The research has found that people are dependable on
maid and they want well trained maid too. The research has found that people face problem to
get maid and if they manage maid they are not trained. Even they have problem in understanding
too. So that there is chance to get success in this business.
Description: It is a common and essential question. Here, we can see that 92% person said that
they have a maid in their house and only 8% said that they don’t have any maid.
Interpretation: From this answer we can realize that in our country there is huge demand of
maid. As people have demand of maid, so maid service company will be successful.
Description: Here we can see that for most of the house hold work people use maid in our
country. The result of the question showed that 40% people take help of maid for washing
clothes and 30% above people take help for cleaning and cooking.
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0% 10% 20% 30% 40% 50%
Cleaning
Washing Cloth
Cooking/Helps in cooking
other
What types of work she does in your house?
4% 4%
13%
40%
35%
4%
When dose she usually come to your house?
Before 7:00am
7:00am - 8:30am
8:31am – 10:00am
10:01am – 11:30am
11:31am – 1:00pm
After 5:30pm
Interpretation: We can see that people took huge support from maid and that also proves that
they need maid in their house hold work obviously.
Description: We asked our respondent to know actually when their maid works in their house.
Here we can see that in the morning period they need maid and their maid work hour is in
between 7.00 Am to 5:00 Pm.
Interpretation: Here it is proven that maid is occupied in every hour of the day time. People
need maid in our country it is also proved in this question.
Description: Next we ask about salary of their current maid. Here we find that, 31% people
spend 2501 to 3000 taka per month for their maid and 23% respondent response that they spend
3001-3500 taka for their maid.
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4%
6%
13%
19%
31%
23%
2% 2%
How much money (BDT) do you have pay to her in each month?
Below 1, 000
1000-1500
1501-2000
2001-2500
2501-3000
3001-3500
3501-4000
Above
57%
43%
Does she give services on Friday?
Yes
No
Interpretation: The result reflects that people are spending good amount money for maid per
month. We can state that there is a huge opportunity in this service.
Description: Here, respondent were asked that, do they get service from their maid on Friday?
Their answers were mix 57% respondents said yes and 43% said no.
Interpretation: The answers of respondents reflect that they don’t get service from their maid
on Friday. If our company can assure our customer that we will provide them maid service on
Friday too then they will obviously take our service.
Description: We also asked our respondent how many days their maid remain absent. Here we
can see that 44% response is 4 days and no absence is zero percent.
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2%
10%
17%
25%
44%
2% 0%
How many days does your maid remain absent in a month (on an average)?
No absence
1 Day
2 Days
3 Days
4 Days
5 Days
Above 5 Days
Interpretation: When maid remained absent then people face many problems. So, if we can
assure our customer to send maid every day, our business will be successful.
Description: We asked our respondent do they face problem to get new maid. About 95%
people said that they face difficulty to get maid.
Interpretation: From that result we can say that our service will be very helpful to them and
they will take our service. Because some people said that they spend huge money to get maid.
Description: We asked our respondents how much they wanted to expense to get premium and
interrupted maid service. 47% persons said that they wanted to pay 2501 to 3000 taka for
premium maid service.
95%
5%
Do you face difficulty to get miad?
Yes
No
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2%
14%
8%
16% 47%
10%
2% 0 0 0
How much money (BDT) would you like to spend for a qualified maid?
Max 1000
1001-2500
1501-2000
2001-2500
2501-3000
3001-3500
5000+
76%
24%
If maid services are provided by a company, will you receive?
Yes
No
Interpretation: This answer reflects that people want to spend money on premium maid service.
So our business will run well.
Description: At last we asked them do they take maid service from a company. Here we can see
that 76% respondents said yes. So that is a huge number.
Interpretation: As majority people said that they will take maid service from a company, if it is
available. So we can come to that point that we can success this business because in our society
people use maid.
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Political
Economical
Social
Technological
Legal
Environment
P
E
S
T
L
E
3. INDUSTRY ANALYSIS
Industry analysis is an important market strategy tool that businesses use before entering new
product or service in the market. Several industrial aspects are evaluated for stable business
development.
Duronto Maid Service is totally a new concept in the perspective of Bangladesh. That is why it
does not have specific or direct competitors. But it has some indirect competitors which belong
to a very large industry.
PESTEL Analysis P E S T E L analysis is generally referred while evaluating an industry analysis in any country. It
deals with the six factors of the country, where any specific industry is operating its business.
Moreover, it highlights the effects of the four factors on the industry & its business. The 6
alphabets in the word P E S T E L have 6 meanings according to its abbreviation. They are:
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Political Analysis
The government has very lengthy policies regarding opening of a new venture. Since our
venture is a completely new entrepreneurial effort, the procedures may become even
tougher.
So far, according to the context of local market, there is no pressure of political groups
for our business plan. The local community groups are also interested about this new
venture. But for expansions, we might have to face a lot of pressure.
Political instability, which is not very uncommon in Bangladesh, may restrict new
companies to open their business, so the future market potential is quite low.
The government policy regarding the business like Duronto maid service is very much
relaxed. So we might have the upper hand here.
Economic Analysis
Bangladesh is considered as a developing economy which has recorded GDP growth above 5%
during the last few years. Although three fifths of Bangladeshis are employed in the agriculture
sector, three quarters of exports revenues come from garment industry. The biggest obstacles to
sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption,
political instability and a slow implementation of economic reforms.
Day by day, standard of living is being upgraded. Urban people are getting more
involved into a high standard living. The GDP growth (annual %) in Bangladesh was
reported at 6.19 in 2008, according to the World Bank. Annual percentage growth rate
of GDP at market prices based on constant local currency. Local & rural businesses are
increasing. So there is a good future potential for the business.
Social Analysis
lifestyle trends:
Bangladesh is a country where the social principles are strictly followed and the entire
social structure is driven by norms. But, the Bangladeshi people are not stubborn in terms
of social culture; rather they humbly accept things which are new and socially accepted.
The Bangladeshi people are also very much social and they have the urge to know what is
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happening around. Therefore, there is a potential demand for any business related to
social cause.
Demographics:
Bangladesh is ethnically homogeneous. Indeed, its name derives from the Bengali ethno-
linguistic group, which comprises 98% of the population. In 2009 the population was
estimated at 156 million. Religiously, about 90% of Bangladeshis are Muslims and the
remainder is mostly Hindus.
Consumer attitudes and opinions:
Bangladeshi people are always up for anything new. They humbly accept things which
are unique and socially accepted. Day by day people in here are becoming more
conscious about what is new in market. Their standard of living has increased and buying
power as well which eventually enables them for more luxury and comfort. So, we have a
very good opportunity to all our business.
Consumer views:
In Bangladesh poor people look for cheap service with highest quality they can get.
Whenever there is service, with their expectation is welcomed by people.
Consumer buying patterns:
It is very visible that the purchasing power of the Bangladeshi people is increasing at a
noticeable pace. People do not mind the high price but they go for their best service for
the satisfaction. So, it is very clear that we have a very positive sign and the market is
very big here to setup a business in this area.
Advertising and publicity:
Advertising & publicity is now becoming a major part of any kind of business. So, in this
area we have a very good chance for our new venture, as the cost of promotional
activities are also decreasing every day because almost every company is doing some sort
of promotions all the time.
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Technological Analysis
Today in the world of business especially media & communications technological change is very
drastic. It is both good and bad for us. Good in a sense that in some times by acquiring new
technologies we are able to give better quality & service. In this sector of social business,
different technological solutions are not available in a very short time. So sometimes it increases
the cost of investing.
Environmental Analysis
Environmental factors include ecological and environmental aspects such as weather, climate,
and climate change, which may especially affect industries like social business. Bangladesh is a
humid country. For the environmental issue, our cost might go a little higher.
Legal Analysis
Bangladesh had a very poor reputation in terms of ethical and legal environment, but at present
the country is overcoming the dilemma. Yet there is a long way to go, as the standard of legal
environment is still below the mark. The country is still suffering from corruption which is
posing threat to many businesses.
In home market, currently, it’s a bit tougher to get the trade license of a new venture.
Sometimes, the law demands previous connection with this trade. That is a disadvantage
for the fresh entrepreneurs.
The consumer laws are not that strict in Bangladesh. Quality of service laws must be
followed as we are planning to serve better service to customer.
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Porter’s Five Forces Model
The five forces model explains the industry profitability by assessing the degree of actual and
potential competition. Porter’s five forces are essential in determining the degree of market
penetration of a Company or the strength of a particular market strategy as stated by Porter
(1985). This is done by examining five key areas of rivalry among existing firms, bargaining
power of suppliers, bargaining power of customers, threats of new entrants and threat of
substitutes.
Five forces model for our business are described here:
Threat of New Entrants: High
There are high possibilities of new entrants to enter this service sector as it is an attractive area for
investment for corporate people. If any other new social business idea come to the market and do
their positioning successfully, then our company may loss its attractiveness. Besides, it is a social
service type business, so new competitors have the chance to enter the market quite easily without
debt financing. And there are many venture capitalists who are interested in investing in new business.
As the establishment and marketing cost are not so high, so we can say that some other people might be
interested to start the business. So we can say that threat of new entrants is moderately high.
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Bargaining power of Customers (Buyers): Low
The bargaining power of buyers is low because buyers don’t have any other substitute on their
hand right now. If Buyers get the better service in comfortable price, they always look for that
service. In that case bargaining power is not there for customers. Bargaining power of the buyer
is moderately low.
Bargaining power of suppliers: High
The suppliers play an important role in our service based industry. They can influence the price
of the service. We are very much dependent on the suppliers. So suppliers have all the power in
our service based industry. Bargaining power of the suppliers is moderately high.
Threat of substitutes: Low
As the industry is new, the threat of substitute is considerably low. If there is a substitute, they
have to compete with us maximum lower price. Other than social business people are not
interested in investing money in social cause. But if in future other companies come up with new
ideas for social business and if their service becomes our substitute it will create problem in
future. But in present time substitute threats are low. Our main focus is on providing better
quality service. There are no established companies right now. If we can make ourselves able to
attract customers and differentiate our service from the competitors, then it will create a huge
advantage in our project.
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SWOT Analysis
The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts
of situations in business and organizations. SWOT is an acronym for:
Strengths
Weaknesses
Opportunities
Threats
The following SWOT analysis captures the key strengths and weaknesses within the company,
and describes the opportunities and threats can be faced by Duronto maid service co.
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STRENGTHS
1. We are going to provide unique compact packages.
2. Right service, quality and reliability.
3. Smart and proficient management.
4. Competitive price with maximum quality.
5. Management is committed and confident
WEAKNESSES
1. No direct marketing experience.
2. Limited initial budget.
3. Customer service staffs need training.
4.High price
OPPORTUNITIES
1. Bangladesh has a large potential market for social business.
2. More investors are being becoming interested in investing in this particular sector.
3. People respond to new ideas.
4. Future prospect to expand.
THREATS
1. It is going to be difficult to establish the venture when idea is new.
3. Political instability.
3. Environmental degradation.
4. National economy and price level.
5. Possible negative publicity because of less marketing experience.
SWOT
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ABELL'S Framework
Who are our
customers?
How our organization will serve that needs?
What is customer’s
need?
ABELL’s Framework
The business definition framework by Derek F. Abell proposes that a business can be defined by
using three dimensions: customer groups (who we're going to serve), customer needs (what
customer need we're attempting to meet), and technology or distinctive competencies (how we're
going to meet that need). This approach strongly stresses understanding customers and not on an
industry and its products or services. Based on these three dimensions, Abell's competitive
strategy classification scheme proposed that a business could be defined by its competitive scope
(broad or narrow) and by the extent of competitive differentiation of its product/service offerings.
According to Derek F. Abell “ABELL’S FRAMEWORK” have three questions:
1. Who are our customers?
2. What is customer’s need?
3. How our organization will serve that needs?
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Who are our customers?
Our main target customers are newly married couple, bachelor quarters, student dorms etc. The
demand of maid service is huge from the beginning. So, we can say that the demand of maid
service is comparatively high than before.
What is customer’s need?
Customers want quality Service
Everyday service
How our organization will serve that needs?
Will provide quality services by providing qualified maid.
30/7 days service
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4. MARKETING STRATEGY & PLAN
Marketing is an organizational function and a set of processes for creating, communicating, and
delivering value to customers and for managing customer relationships in ways that benefit the
organization and its stakeholders. It generates the strategy that underlies sales techniques,
business communication, and business developments.
For effective marketing and sales strategy we have used marketing mix strategy or the 4P which
are:
Product
Price
Promotion
Place
We tried our best to implement 4p strategy in our whole marketing plan.
Message: We have developed a message for our customers. Our message to our customers will
be:
Our slogan:
Product: Our only service is to provide good and skilled maid to the customer. Our targeted customers are
people who lived in Bashundhara residential area. Mainly our targeted customers are newly
married couple, bachelor quarters, student dorms as well as the residence of Bashundhara
residential area.
Pricing Method: We have select pricing range of different service as per category and it includes all the cost of the
company along with the payment of the salary, office equipment cost, work force labor cost,
maintenance cost etc.
Pricing range of different service as per category is given below:
Only for cleaning: 1000 tk
Only for cooking: 1200 tk
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Only for washing clothes: 1200 tk
After all we have one more unique pricing method for our customer, which is if anyone wants all
three services at once we will give him 400 tk discounts.
Promotion: Promotion plays a very important role for running the business successfully. It is also very
important for reach the target customer and achieving the projected sales figure in the upcoming
years of the business
The target customers of Duronto maid service are newly married couple, bachelor quarters, and
student dorms in Bashundhara residential area. The promotional plan of Duronto maid service
will let the customers know about its existence, features, quality, service, location, offers and
other necessary information which the customers would like to know. Besides, the promotional
activities would also help them decide why they would choose our company for hiring maid.
The promotional mix would consists of-
Advertising:
Advertising is a non personal medium of promotional plan. We will involve advertising by
putting banners and stickers in some prime areas of Bashundhara residential area. We will put
some banners and stickers in front of genius, hazir biriani and Bashundhara convention center.
Advertising
Internet marketing
Public Relation
Direct marketing
sales promotion
Personal Selling
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Being a very cost-effective method for communicating with large audiences, advertising in
different medium can be used to create a brand image and symbolic appeal for home maid
provider. We will also provide brochure to our customer as well as other people.
We promote our company by putting banners, providing lip let with daily newspaper.
Banner adds:
Banner is an important medium to reach our targeted customer. Banner ads would attract the
attention of Bashundhara residential area people.
Figure: A sample Banner
Lip let:
Lip let ads with daily news papers would also enhance customers awareness of Duronto maid
service. Colorful yet classy ads simply describing about Duronto maid service and it offers.
Direct Marketing:
Direct marketing involves communicating directly with the target market. It includes variety of
activities like telemarketing, direct selling, direct response through direct mail etc.
For direct marketing we will send our sales person for let the people
know about our company and service.
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Direct response advertising will also let the customers communicate
directly from internet
Interactive or Internet Marketing:
Internet marketing is a dynamic and revolutionary idea which has become a very important
medium of marketing recently. Interactive media allow back and forth flow of information
whereby users can participate in and modify the form and the content of the information they
receive in real time. So, Our Company will definitely engage in internet marketing. In this way,
by putting up an ad virtually, a lot of people will come across the information about our
company. In doing so we would have to create-
Facebook Fanpage Twitter Page Put up Banner ads
Create own web page
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Facebook Fan Page:
Facebook is a famous social networking site today. So creating a fan page in facebook would
help the target customers to know information’s about our company and get updates about
products and offers.
Sample of our Facebook Fan page:
Twitter Page:
Following Twitter page will also benefit the customers and it would be easier for us to do
marketing in such an inexpensive way.
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Putting up Banner ads:
Putting up banner ads in different sites where our target customers regularly visit, even in
facebook and twitter is also an important marketing strategy.
Creating own Website:
Our company will create its own website where it would promote itself and there will be all
information’s and facilities to.
Our website is: www.durontomaidservice.com
Figure: Sample profile of a Maid in our website
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Public Relations:
Public relations also include advertising, participating in community services, sponsorship etc
which our company would do a few of them in the long run. Because as a new company, we
would have to first make our existence clear in the market then we will have to build a strong
reputation.
Personal Selling:
In case of personal selling, our company would do these activities-
Send sales persons from door to door for directly selling and promoting our services.
Telephone sales are also a part of personal selling.
Controls:
Marketing plan of this firm will be connected with the operational plans. Because all the
agreements and deadlines have to be maintained by the operation department otherwise it will
largely affect the fame of the firm. From delivery to maintenance each and every step needs to be
supervised with the discipline, quality and other important concerns. Any error at any step may
fail the firm to satisfy the customer as per demand.
A plan always needs to be flexible so that changes can be made at crucial or emergency
situations. There will be alternative plan for every department along with the core planning, so
that if one plan fails than alternative plan can substitute that.
Communication is the crucial point for business success for a company. Company needs to
maintain good relationship with the customers. A good communication also helps the company
to increase the business.
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Managing Director
Finance Manager
Accountant
Marketing Manager
Sales Staff
Operations manager
Trainers
5. MANAGEMENT & OPERATIONS
Management team
We will not be hiring any managers. The four owners of the organization will take care of the top
management. We will hire the lower level workers.
Employee roles and qualification
Managing Director: The Managing Director (MD) will be responsible to guide the
organization towards its long term vision. The MD, with constructive feedback from all the
employees, will create the long term plans and supervise the running of the organization in order
to help Duronto Maid Service achieve its goals. The MD will also be involved in the HR section
of the organization. The MD will hold regular meetings with all the employees and be open to
any idea coming from any sector of the organization.
Finance Manager: The finance manager will be in charge of all the financial activities of the
organization. The finance manager will manage the assets, perform calculations to review the
financial status of the organization and suggest ideas to improve the financial position of the
organization. The finance manager will report directly to the MD.
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Marketing manager: The marketing manager will be in charge of promoting Duronto Maid
Service to the target market. Innovating and providing better customer services and enhancing
customer satisfaction will also be in the hands of the marketing manager. The marketing
manager will also carry out frequent research, competitive analysis and promotion in various
media in order to generate a constant amount of sales for the organization.
Operations manager: The operations manager will be in charge of making sure that the
organization has all the tools and materials available in order to carry out its operations. The
operations manager also has to maintain efficiency in logistical support. The operations manager
will also make sure that the curriculum of Duronto Maid Service is in order and the trainers are
training the maid servants properly.
Strategy execution section
Accountant: The accountant’s role is to collect and arrange all the financial information of
Duronto Maid Service in the proper format continuously. The accountant must have a bachelor’s
degree or a diploma in accounting from a reputed college or university. The accountant must
have good communication skills in Bengali and must be comfortable with computer systems and
accounting software. The accountant will get a maximum of Tk. 10,500 per month. The
accountant will contribute to the organization by arranging all the raw financial information of
the organization into an understandable form in order to make it easier for the financial manager
to form strategies out of it.
Sales Executive: The role of the sales executive involves executing all the marketing plans
made by the marketing manager. The executive will work closely with the marketing manager to
implement and organize any marketing campaign and documentation required. The marketing
executive must be a graduate from marketing from a reputed university. A 1 year experience in
any organization will be preferred. The salary of the marketing executive will be Tk. 8,500 per
month, but it will be increased based on potentiality. The contribution of the marketing executive
will include successfully implementing all the marketing ideas and innovations and also to
generate sales and provide better value to customers.
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Trainers: Trainers are the most important field level employees of the organization. They are
the one who will teach the servants and it is their teachings that will help us realize our vision.
They will have the maximum exposure with the customers throughout the curriculum and will be
highly involved in the decision making process. Each trainer must be experienced in the relevant
field with a certificate to show that they know the vocation well. Salary for each teacher will be
around Tk. 10,000 per month for taking classes only 2 days a week.
Key employee policies
Recruitment: Employees will be recruited based on an interview with the MD and the
department manager. Interviews will be based more on behavior and skills than educational
qualifications.
Employee non-disclosure act: Employees of the organization will not disclose any
intellectual or competitive information outside the company.
Ethics: Employees will maintain their ethical standards and behavior at all times in the
company.
Tax cuts: Tax amount will be automatically deducted from the employee salary every month.
Bottom-up decision making: While making a decision, continuous feedback will be taken
from the bottom level management.
Highly innovative workforce: Every employee’s idea will be considered and will be
implemented if it is proven valuable.
Grievance: Any employee can talk to the MD. of the organization without having to follow
the usual process of reporting to their respective supervisor. This rule will be applicable when the
urgency of decision is high or the employee is facing any personal problems with the supervisor.
Employee salary: Every employee salary will be paid 2 days before the month ends. This
policy ensures that employees are able to pay their own expenses with cash at hand.
Contract extension: Each employee will be given a contract of 1 year which will be
extended if the performance of the employee remains satisfactory.
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Performance appraisal: Each employee and manager will go through a 360 degree
appraisal where everyone within the organization will rate the employee to get an overall
perception about the employee.
Holidays: Employees will be subjected to all the Government holidays, religious holidays and
national holidays. Company holidays includes
Sick leave 10 days
Casual leave 14 days
Earn leave 1 day per 24 working days
Severance: If an employee is fired, he or she will receive a 2 month severance package.
Making Duronto Maid Service a positive and rewarding place to work
Competitive salary: Duronto Maid Service will provide employees with market competitive
salary which will be accompanied by a comparative low workload. This will highly satisfy the
employees as they will earn as much as others with lesser effort.
Benefits: Employees will be provided with security such as health insurance and 20% of their
house rent.
Open door policy: Employees are free to ask or talk to the MD regarding any problem they
face without fear of retribution and bureaucracy.
Innovation encouraged: Employees will be highly encouraged to input their ideas to make
the organization better. Their ideas will be welcomed and will be implemented if considered
feasible and profitable.
Reward and recognition: Employees will be given frequent bonuses and recognition and
awards upon excelling at their tasks. An employee of the month competition will be initiated
where the winning employee will receive a 50% salary bonus.
Work environment: The work environment will be kept completely clean and comfortable
for the employees.
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Status: The organization will have a very strong code of ethics to protect anyone from
harassment or discrimination.
Safety measures: The organization will have sufficient safety exits and other measures in
place. The company will compensate fully for any injuries occurring at company premises.
Corporate Governance
Openness to ideas: Duronto Maid Service will be willing to encourage employees to
innovate and propose any idea they might think will add value to the organization. These ideas
will be welcomed graciously and will be considered seriously by the top management and
decision makers of the organization.
Interests of other stakeholders: Organizations should recognize that they have legal,
contractual, social, and market driven obligations to employees, investors, creditors, suppliers,
local communities, customers, and policy makers.
Role and responsibilities of the board: Duronto Maid Service will need sufficient
relevant skills and understanding to review and challenge management performance. It also
needs adequate size and appropriate levels of independence and commitment to fulfill its
responsibilities and duties.
Integrity and ethical behavior: Duronto Maid Service will develop a code of conduct for
their directors and executives that promotes ethical and responsible decision making.
Disclosure and transparency: Duronto Maid Service will clarify and make publicly
known the roles and responsibilities of board and management to provide stakeholders with a
level of accountability. They should also implement procedures to independently verify and
safeguard the integrity of the company's financial reporting. Disclosure of material matters
concerning the organization should be timely and balanced to ensure that all investors have
access to clear, factual information.
Advisors
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ATTORNEY BANKER
Name: Mr. Moinul Haq Name: Salman Sattar
Title: Lawyer Title:Associate Financial Analyst
Organization: Supreme Court Organization: Eastern Bank Ltd.
City: Dhaka City: Dhaka
Phone: 01711535838 Phone: 01711345349
INSURANCE AGENT
Name: Mr. Rafi
Title: Agency Head
Organization: American Life Insurance Company Limited
City: Chittagong
Phone: 01554637623
Research and Development Duronto Maid Service will carry out frequent research and development practices in order to
generate a consistent flow of innovation and ability to satisfy customer to an optimal level. The
organization will not have any separate R&D department. The type of research and development
activities Duronto Maid Service will carry out are:
Innovation day: The ‘innovation day’ is specifically intended for the employees to
communicate their innovative ideas to make the organization perform better and be distinct.
Every Thursday, employees will have to stay a little longer than the usual working hours in order
to attend the meeting. In the meeting, all the employees will sit with the management team. The
management team will set the agenda regarding which areas of the organization needs to be
enhanced or redesigned. On each area of improvement, employees will be given 10 minutes to
think and jot down their creative ideas. Then the employees will briefly present the innovat ion
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they want to bring in their organization. After the employees have all provided their inputs and
have a array of creative ideas over every topic, the management will sit among themselves and
choose the best ideas, which will be carried forward or implemented based on its feasiblity.
Creative problem solving process: One day before the innovation day, employees will
also go through a ‘creative problem solving process’. In this process, the management will lay
down all the ongoing problems the organization is having in front of the employees. Then, the
employees will be given the whole day to come up with ideas on how to solve those problems.
After doing that, on ‘innovative days’ the employees will put down their solutions for each
problems, and the whole team will decide on the most feasible and effective solution by
depending on the process of elimination (POE).
Customer survey: Housewives will also be sent a monthly survey to find out if they are
satisfied with the performance and learning of their servants and services we are providing. The
maid servants will also be given pictorial surveys in order to understand what they think of the
overall program.
Activities of others in the industry
Generally, organizations close to ours do not go for any extensive research and development
process. They are generally very reactive and do not implement any idea or innovation until
highly requested by the parents or until it is highly required.
Intellectual property
The following tools will be used to protect our intellectual property:
Patents: Duronto Maid Service will patent a few of the top ideas that come out of the research
and development process. It will initially envelop its superhero idea into a patent with the
Bangladesh Patent Office. After that, every new idea will be covered under a patent.
Service mark: The Duronto Maid Service logo will bear an Unregistered Service Mark (SM)
symbol in order to protect any other organization to use our name and logo and also our tagline
illegally. Companies violating these laws will be immediately sued under the intellectual
property law.
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Trademark: Duronto Maid Service will apply for trademark of its logo. It will help Duronto
Maid Service by protecting the organization logo and prohibiting any other entity to copy our
logo or our tagline.
Facilities Building: A 200 square feet room will be rented on the first floor around Bashundhara, that is,
Nordda.
Furniture: The following furniture will be used.
Single seated chairs in office
Leather sofa in corner of the office
4 chairs on the office
Office table
Essentials: Air conditioners, energy saving lights, designer lights, mattresses.
Stationeries: Pens, A4 papers, chart papers, pencils, crayon boxes.
Security: Fire extinguishers and CCTV cameras.
Technological tools:
CCTV: We will obtain our security cameras from ARGUS Security Technologies Ltd.
Customer Relationship Management software: Duronto Maid Service will source its CRM
software from BDInfosys. The CRM software will be very useful to the organization to keep
detailed records of the servants and customers. The software will help us provide customized
services to our customers and help us to deliver customized marketing materials, which will
generate a lot of customer satisfaction.
Access to technology
To gain access to the security devices, we will go to the office of ARGUS Security Technologies
and consult with them on how best to place the CCTV cameras, how many we need, and which
angles will provide the best view. We will also consult how the system will be centrally
controlled and what cost do Duronto Maid Service have to bear to install the system.
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To gain access to the CRM software, we will go to the BDInfosys office and consult them on the
type of information we need and how we want to use them. Then we will ask them how to
integrate all the data into a pattern and whether they provide training to our data entry operator to
handle the CRM software. Then we will discuss about the price and other costing associated with
installing the CRM software in the organization.
Inventory, product and quality assurance
Duronto Maid Service will acquire its equipment and costumes from the following shops:
Furniture: The furniture will be bought from Practika Bangladesh Ltd.
Stationeries: The stationeries will be bought from Banani Bazaar.
Lighting: The lighting will be bought from Hossain Lighting
There is no fixed supply chain as most of our service equipments are bought one time. If we need
more of it, it will be the duty of the logistics department to bring them.
Quality assurance
ISO 9000: Duronto Maid Service will apply for the ISO 9000 certificate. This will help Duronto
Maid Service gain recognition from the customers about its quality maintenance and ability to
serve well. ISO 9000 certificate will also help Duronto Maid Service to be globally recognized.
ROQ: Duronto Maid Service will hold ‘innovation day’ on Thursdays where employees can
present any new ideas or solve existing problems. The problems to be solved or the area where
new ideas will be generated will depend on which areas are more important for attracting and
retaining customers. So the innovation day in Duronto Maid Service is a type of Return On
Quality initiative.
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Market Based Segmentation
Geographic: Duronto Maid Service will be located in Nardda. So, its target market falls within
the geographic boundary of Dhaka. More specifically, customers of Duronto Maid Service will
be the residents of the Bashundhara Residential Area. The residents of Bashundhara city are one
of the richer classes of the city. They need maid servants for their household chores.
Demographic: Our target segment for Duronto Maid Service is families living in Bashundhara
Residential Area. Especially, those housewives who need a servant the most to handle household
chores. Moreover, there are some working housewives who badly need our service.
Psychographic: Our target market is mostly dependant on housewives for taking most of the
decisions. But they have the ability to influence the decision of housewives. But housewives are
still the major decision makers. So Duronto Maid Service also has to target its marketing efforts
towards the housewives. The marketing approach must be on a personal selling basis.
Positioning Statement:
Duronto Maid Service is a social service centre that provides an opportunity to both poor women
to have jobs in their hands with training and housewives to relax with no tension.
Organizational Growth
Self generated: Duronto Maid Service aims to grow the organization in a self generated manner.
As a new company, it will have few customers. But as time passes on and our marketing efforts
start to sink in our customers, we expect more customers to fill up our training centre. The best
method of self generating growth is through word of mouth. Duronto Maid Service will have a
lot of housewives who will carry our flag and express their satisfaction with their servants
training program and spread it wherever they go. Housewives will receive discounts on their
referrals.
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6. FINANCIAL PLAN
Record Keeping System
We will use double entry accounting system to record our financial data. We will prepare
financial statements (Income Statement, Balance Sheet Cash Flow Statements etc.) at the end of
every calendar year.
Types of bank accounts
Type of Account Purpose Which Institution?
Current To run the day to day
activities of the business
Brac Bank Limited
(Bashundhara R/A Branch)
Sources & Uses of Capital
Sources of Capital
Sources of capital Amount (BDT) When Needed What terms
Owner’s Equity 1,200,000 Cash At the beginning stage of business.
Uses of Capital
Use of
Capital
Amount
(BDT) When Needed? Notes
Registration
fees 10,000
At the beginning of
the business.
This amount will be used to take the
permission to set up business from the govt.
of our country.
Office Set
up (Rent) 150,000
Initial starting time
of business.
This cost will include 1st half year’s rent in
advance.
Hiring cost 20,000 At the starting point This amount will be used for hiring
employees.
Office
Equipment
100,000 At the starting point Office equipment will be purchased to for
the office.
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Equipment 200,000 At the starting point This equipment will be used during training.
Furniture 120,000 At the starting point For office
Operating
Cost 600,000 At the starting point
This is cost will be used in providing the
service.
Total set-up
cost 1,200,000
Start-up Requirements
Item Estimated Cost (BDT)
Start-Up Expenses
Licenses/Certificates/Permits 10,000
Marketing Materials (Promotion) 50,000
Rent(1st month) 25,000
Utilities (including all office expense) 25,000
Web Fees(one time) 20,000
Salaries 94,500
Others 20,000
Total start-up expenses 244,500
Start-Up Assets
Cash Balance for Starting Date 385,500
Office Equipment 100,000
Furniture 120,000
Equipment 200,000
Rent Deposit (6 months) 150,000
Total Start-Up Assets 955,500
Total Start-Up Requirements 1,200,000
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Cost Structure
A detailed cost structure for Duronto Maid Service is given below:
Duronto Maid Service
Cost Structure
(2013-2015)
Per
Month 2013 2014 2015
Fixed Costs
Furniture
120,000 120,000 120,000
Office Equipment
300,000 300,000 300,000
Website & System Development
20,000 20,000 20,000
Office Rent 25,000 300,000 360,000 432,000
Salaries Cost [Office Employee] 94,500 1,134,000 1,304,100 1,499,715
Promotional Expense
175,000 210,000 252,000
Miscellaneous Expenses
10,000 12,000 14,400
Office Supplies
5,000 6,000 7,200
Total Fixed Cost
2,064,000 2,332,100 2,645,315
Overheads
Water 2,000 24,000 26,400 29,040
Gas 2,500 30,000 33,000 36,300
Electricity 3,000 36,000 39,600 43,560
Total Overheads
90,000 99,000 108,900
Variable costs
Wages –Maid 12,960,000 22,680,000 38,880,000
Total Variable Cost 12,960,000 14,256,000 15,681,600
Total Cost 15,114,000 16,687,100 18,435,815
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Assumption & Notes
1. Assumption 1: Cash Costs for each item will remain constant throughout the year
2. Assumption 2: Figures not multiplied by 12 means that they are onetime costs
3. Assumption 3: The figures for 2013 (12 month basis) has been used for calculations.
4. Assumption 4: The yearly increment for the variable and overhead prices has been
assumed to be increased by 10-20% year to year due to inflation.
5. Office equipment includes the cost of air conditioner, computer etc.
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Cash Flow Projections Forecasted balance sheet (3 years) of Duronto Maid Service is given below-
Duronto Maid Service
Statement of Cash Flow
July 31, (2014-2016)
2014 2015 2016
Cash flow from operating activities
Net Income (314,500) 488,400 1,965,285
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation Expense 40,500 40,500 40,500
Net cash provided by operating
activities
(274,000) 528,900 2,005,785
Cash flows from investing activities
Purchase of Furniture (120,000)
Purchase of Office Equipment (300,000)
Net cash used by investing activities (420,000)
Cash flow from financing activities
Share Capital 1,200,000 - -
Bank Loan - - -
Net cash provided by financing
activities
1,200,000 - -
Net increase in cash 506,000 528,900 2,005,785
Cash, Beginning - 506,000 1,034,900
Cash, Ending 506,000 1,034,900 3,040,685
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Balance Sheet Projections Forecasted balance sheet (3 years) of Duronto Maid Service is given below-
Duronto Maid Service
Pro Forma Balance Sheet
July 31, (2014-2016)
2013 2014 2015
Current Assets:
Cash & Cash Equivalent 506,000 1,034,900 3,040,685
Total Current Assets 506,000 1,034,900 3,040,685
Fixed Assets:
Office Equipment 300,000 300,000 300,000
Furniture 120,000 120,000 120,000
Less: Accumulated Depreciation 40,500 81,000 121,500
Total Fixed Assets 379,500 339,000 298,500
Total Assets 85,500 1,373,900 3,339,185
Equity and Liabilities
Equity:
Owners’ Equity 1,200,000 1,200,000 1,200,000
Retained Earnings (314,500) 173,900 2,139,185
Total Equity 885,500 1,373,900 3,339,185
Long term Liabilities: - - -
Current Liabilities: - - -
Total Liabilities - - -
Total Equity and Liabilities 885,500 1,373,900 3,339,185
Notes
1. Cash balance for a year is equal to that year's net income after tax plus depreciation
charged for that year plus previous year cash balance.
2. Retained earnings for one year is equal to that year's net income after tax plus the
previous year's net income after tax.
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Income Statement Projections Forecasted income statement (3 years) of Duronto Maid Service is given below-
Duronto Maid Service
Pro Forma Balance Sheet
July 31, (2014-2016)
2014 2015 2016
Sales Revenue 14,400,000 25,200,000 43,200,000
Cost of Sales 12,960,000 22,680,000 38,880,000
Gross Profit 1,440,000 2,520,000 4,320,000
Expenses:
Salaries & Benefits 1,134,000 1,304,100 1,499,715
Rent Expense 300,000 360,000 432,000
Promotional expense 175,000 210,000 252,000
Office Supplies 5,000 6,000 7,200
Depreciation 40,500 40,500 40,500
Utilities 90,000 99,000 108,900
Miscellaneous Expenses 10,000 12,000 14,400
Total Expenses 1,754,500 2,031,600 2,354,715
Net Profit (314,500) 488,400 1,965,285
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Breakeven Analysis
From our goal seek design, we have found out our break even point for each year from 2014 to
2016 by assuming a net income being equal to our costing.
Duronto Maid Service Breakeven Analysis
(2013-2015)
2013 2014 2015
Total Fixed Cost (PM) 179500 202591.6667 229517.9167
Total Variable Cost (PM) 1080000 1890000 3240000
Total Cost 1259500 2092591.667 3469517.917
Number of House Served 400 600 900
Average Variable Cost 2700 3150 3600
Price (Average) 3000 3500 4000
BEP (Number of House) 598.33 578.83 573.79
Rounded Number of House Served 598 579 574
BEP (BDTs) 1795000.00 2025916.67 2295179.17
Here, we can see that for 2013, our break even point is 598 house served . For 2014, our break
even is 579 house served, and 574 house served for 2015.
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Ratio Analysis
Duronto Maid Service Breakeven Analysis
(2013-2015)
2013 2014 2015
Activity Rations
Fixed Asset Turnover 37.94 times 74.34 times 144.72 times
Total Asset Turnover 16.26 times 18.34 times 12.937 times
Profitability Ratio
Net Profit Margin -2.18% 1.94% 4.55%
Return on Assets -35.52% 35.55% 58.86%
Return on Equity -26% 41% 164%
Notes:
1. Liquidity ratios (current & quick ratio) could not be calculated as the company doesn’t
hold any form of current liabilities.
2. Total asset turnover ratio refers that how efficiently the company can use it’s assets to
generate sales and what amount of asset can generate what amount of sales and as
observed this ratio is increasing year by year which is a very positive sign for our
company’s growth
3. Net profit margin refers to the percentage of net profit earned by the company out of each
tk of sales and as per observation, it is increasing rapidly which refers to a very good
profitability of our business in near future.
4. Return on assets (ROA) refers to the overall effectiveness of the management to generate
net income from the available total assets. Return on equity (ROE) indicates the
percentage of return that the owners will earn out of their each tk of investment which is
also increasing at a very good rate very rapidly and indicating a well-balanced permance
of our business in future.
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7. FUNDING REQUEST & EXIT STRATEGY
Funding request and exit strategy
Amount of funds requested
Duronto Maid Service is requesting a total of Tk. 12 lacs for this plan. We are obtaining our
funds from the following sources.
Personal funding: We will obtain Tk. 6 lacs from personal savings in cash form. There will no
condition attached to our owners’ equity.
Family debt: Tk. 6 lacs will be taken in the growing stages from our family as a debt. There is
no interest attached but we have obtained the funds by promising to pay them back in the full
amount.
There is no plan to issue any and share bonds in the future.
Contingency and exit plan
In case the business is in severe loss and sales price is greater than cost, the business will be shut
down. On the other hand, if our business violates 7 principle of social business, it will also be
investigated.
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8. REFERENCES
Anon., 2011. Socail Business. [Online]
Available at: http://www.muhammadyunus.org/index.php/social-busines
[Accessed 23 April 2013].
Global Social Business Summit, 2010. What is a “social business”?. Wolfsburg, Global Social
Business Summit.
Sardar, R., 2013. About the Problems of Taltola Bosti [Interview] (28 March 2013).