Completed RHFH Auto Spa Business Plan ENT530 PDF

Preview

Summary

Report...

Description

WRITTEN REPORT BUSINESS PLAN “RHFH Mobile Spa”

Faculty Program

: FACULTY OF BUSINESS MANAGEMENT : BACHELOR OF BUSINESS ADMINISTRATION (HONS.)

Program Code Course Course Code Semester Group Group Members

: : : : : :

OPERATIONS MANAGEMENT BA244 PRINCIPLES OF ENTREPRENEURSHIP ENT530 MARCH 2019 NBO6A 1. HARIZ REZA MOHD YAZID 2017663466 2. FATIN AMIRAH BINTI TAJUL ‘ARUS 2017481602 3. RASFAN AKRAM HAJI AKMAL 2017481602 4. MOHD HELMI BIN BADARUDDIN 2017478288

Submitted to: ENCIK AZMI BIN MAT

Submission Date: 26 May 2019

No 1 Table of Content

Table of Content

Page 2

2 3 4 5 6

Introduction Executive Summary Company profile Purpose of Business Plan Environmental Analysis

3 4 5-6 7

6.1 Unique Selling Proposition (USP)/ Competitive Advantage

8

6.2 The industry and trends

9-10

6.3 Analysis predictions for industry or market segment

10

6.4 Services and Amenities 7 Description of Venture 8 Marketing Analysis & Plan 8.1 Customers segmentation

14

8.2 Competitors

15

8.3 Market Share

16

8.4 Target Market/Customers

17-18

8.5 Competition and competitive advantage

18-19

8.6 Marketing Strategy 9 Operation Plan

20-21

9.1 Machinery and other capital equipment

22

9.2 Operational Detail

23-24

9.3 Organization Business Structure Financial Plan 10

25-29

10.1 Investment Cost

30

10.2 Financial Source

31

10.3 Financial Forecast

31 32

11 Conclusion 12 Appendices

2.0

11 12-13

- Business Canvass

33

- Resumes of the top management

34-37

- Location of Business

38

- Capital equipment and facility requirement

39-40

INTRODUCTION

Entrepreneurship learning pursues students with the knowledge, skills and motivation to encourage entrepreneurial success in variation of surroundings. Entrepreneurship learning

focuses on the development of skills or attributes that enable the realization of opportunity, where the approaches share an interest in achieving profit in form of monetary or responsiveness of the customer. As students from group NBO6A on subject Principles of Entrepreneurship (ENT530), Faculty of Business Administration, UiTM Puncak Alam, we have decided to establish a business venture for the group project called “FHFH Mobile Spa” as one of prerequisite assessment for this subject. For that reason, the written report business plan is executed in order to meet the assessment requirement for this subject.

A business plan is a written description of one business's future, a document that tells what an organization plan to do and how they plan to do it. In other words, the writing that put on paper describing a business strategy, means it is a written business plan. Business plans are essentially strategic. It covers the team, the operational model, financial analysis, external environment, and implementation roadmap and risk analysis. Hence, business plans are critical to the success of any new venture.

A business plans is very important and it is recommended for all start-ups before the real business is executed. A business plans are all about walking the walk. People who write business plans also proposes do more stuff, therefore doing more stuff such as researching markets and preparing projections will increases the chances an entrepreneur will follow through. Writing out a business plan compels its writer to review everything at once. For instance, its value proposition, marketing assumptions, operations plan, financial plan and staffing plan. In addition, securing funding almost always requires a formal plan. For example, a venture capitalist, commercial banks, government-backed lenders and investors will require a business plan for those who seeking financial funding.

3.0

EXECUTIVE SUMMARY

The following is a business proposal for our business venture “RHFH Mobile Spa” consisting of the organization team, the operational model, financial analysis, external environment, and implementation roadmap and risk analysis. We have included the 4Ws and 1H theory (Who, What, Whom & How) and the 4Ps (Product, Price, Place & Promotion) for marketing purposes as documented set of tools that would leads us on the right foot.

We planned to set up a business of mobile car wash service, where we aimed on providing a wide range of car wash services at customers’ door in minutes. In other words, RHFH Mobile Spa is a car wash doorstep service which offering the advantage on less time and energy consuming, and cost saving to its customers. Apart from that, RHFH Mobile Spa providing personalized car wash experience to customers by introducing more features. It is a service committed to consistently providing high customer satisfaction by representing reliable tools and equipment while delivering a quality service at a competitive price.

The key resources to start up the business venture “RHFH Mobile Spa” are mobile car wash, car wash tools and equipment, mobile application on Android and IOS as well as social media such as Facebook for marketing medium and appointment slot purposes. Apart of it, RHFH Mobile Spa is intended to be a friendly-user online car wash service platform which deliver good quality service and prompt service based on customers demand from their apps. At this moment, we decided that our RHFH Mobile Spa is put up to serve the small radius of vicinity of Kuala Lumpur. Whilst the office is located at Fraser Business Park in Off Jalan Loke Yew, the use of mobile car wash becomes handy to the business as it is easily within reach to customer residence.

4.0

COMPANY BACKGROUND

Company’s Profile Business Name Form of Business Business Registration No. Business Type Business Address

: : : : :

RHFH Mobile Spa Partnership 246178-S Car wash services G-1-01, Fraser Business Park, Off Jalan Loke Yew,

Business Commencement Date of Registration Business Telephone No. Business Fax No. Email address Name of bank Bank Account No. Source of Capital Business Partners &

: : : : : : : : :

57322 Kuala Lumpur 4th April 2019 3rd April 2019 03-7887 1234 03-7887 6789 [email protected] Muamalat Bank 0561 7434 8989 Partners contribution 1. Mohd Helmi bin Badaruddin

Enquiries

General Manager H/P: +017-2172242 2. Rasfan Akram bin Akmal Operations Manager H/P: +013-3541301 3. Hariz Reza Mohd Yazid Marketing Manager H/P: +012-6659193 4. Fatin Amirah binti Tajul ‘Arus Financial Manager H/P: +010-2014549

COMPANY LOGO

Our Motto “New sparkle. New vision. New direction.”

Our Mission “To provide convenience, spotless and welcoming doorstep car wash service.”

Our Objective “To provide a high quality, wide range-service car wash at customers’ door in minutes so that customers will perceive great value.”

LOGO DESCRIPTION

MEANING OF LOGO

WATER DROP & CAR

Car wash

HOUSE

Wash at customer premise

RHFH MOBILE SPA

The brand name

5.0

PURPOSE OF BUSINESS PLAN

The Entrepreneurs Business plan is an effective guide for the entrepreneurs to define their goals and steps needed to reach them. It will have specific purpose, vision and means for the operation.

Company Employees These will serve as the employees’ guideline to ensure all activity will work towards the objective of the company and employees could refer to this business plan in regards to their job duties and be motivated to achieve their targets.

Suppliers To convince the supplier of the viability of the business venture and in return they are willing to cooperate and support the business to move forward. This will benefit both party in the long-term alliance.

Financial Institutions The business plan is to prove that all party involve in this business venture are serious to achieve the targets. The business is currently financed by all partners but we would possibly agree the role of financial institution to provide financial support for us to grow in future.

Customers The customer will learn the uniqueness of the service. We will persuade the customers to try on new type of service which will be very convenience to them and will buy the service for its unique customer journey.

6.0

ENVIRONMENTAL INDUSTRIAL ANALYSIS

6.1

Unique Selling Proposition (USP) / Competitive Advantage

“RHFH Mobile Spa” is a business venture setup to cater a niche market of delivering the doorstep car wash services to customers’ premise. As one of our target market includes customers with no proper place, tools or sufficient access of water to get the job done, our objective is to bring the service to be enjoyed by these customers especially the high residential who faces difficulties to wash their own car. For this goal, we decided to located in the city centre of Kuala Lumpur where the population is majority own or live in a high-rise condominium or apartment where there will bring high market for our services. .

The company also aims to offer the job opportunity to local people rather than nonlocal as it will benefit the company on creating a positive image among public and will yield confidence among customers who are subscribe on our doorstep car wash service. As we create a job opportunity to our own people, we are contribute to our positive economic impact along with granting an ease and secure feeling while customers deal with our local workers. We are stand for having faith in engagement with customers and response from them will contribute to the business growth and our market share.

Besides that, the price will be affordable and the package plan can be tailor accordingly at customer ease. The company is taking a month from the business registration to properly setup the team, online booking facilities and the equipment tools to do the service at customer premise. At the beginning, we limit the coverage where we are able to start up with small capital and without the financial aid. We are targeting to run the business in a small radius in a vicinity area of Kuala Lumpur city so the customer will enjoy a short waiting queue as well as for us to strive to build a strong reputations. As the business continually growing to expand, we aims to manage and handle bigger team and in more competently.

6.2

The Industry and trends

According to Global Industry Analyst, Inc., a worldwide business strategy and market intelligence source which published on July 2018, it stated that a growing vehicle population and focus on vehicle maintenance to drive the global car washing machine services market. The global Car Washing Service market is projected to reach an enormous returns by 2024, driven by the steady growth in the world motor vehicle population, consumer focus on vehicle maintenance against the background of growing awareness over the importance of appearance in boosting resale value of the car, and the quiet Do-It-For-Me (DFIM) revolution on-going in the new economy.

Besides that, technology advancements have help drive the commercial value of car washing beyond the traditional do-it yourself home hand car washing. Moreover, driving the popularity of car wash services are factors such as launch of loyalty programs by service providers to attract new customers, growing environmental awareness over the benefits offered by professional car cleaning in terms of optimum utilization of water resources and proper disposal of solid waste and wastewater, hectic urban lifestyle, dwindling leisure time and the growing popularity of Do-It-For-Me (DFIM) services.

6.3

Analysis predictions for industry / Market segment

Car washing systems are the systems that are being used for cleaning the exteriors and interiors of the cars. It facilitates easy washing and cleaning of the automobile. The growth in automotive industry leads to an increase in demand for the car wash systems. The other factors driving the growth of the car wash systems market are the increase in production and sales of vehicles, reduced instances domestic car washing, and high disposable income. Also, the growth of the market is driven by features such as improved efficiency, higher safety, easy management, reliability and time efficiency.

Car washing systems are very common in developed countries. Consumers are becoming more conscious of the benefits of car wash services such as improved efficiency and safety. The rising environmental awareness among people is driving the growth of car wash services, which ensures optimal deployment of water resources and proper dumping of solid waste, thus helping the growth of market for car wash systems. Car washes service also tends to save water, reduce groundwater pollution, and retain the car’s paint and finish. Technological advancement and heavy investments in car wash systems also add to the car wash system market. There is a growth in the need for professional car cleaning organizations, which are capable of providing flawless car cleaning. Therefore, there is high demand for a professional and reliable cleaning brand over the forecast period.

Other factors contributing growth of the market are continuous rise in industrialization, increasing new car registrations, decline in gasoline prices and lower interest rates on loans. Increase in the installation of mechanized and automated car wash systems is further propelling the growth of the market. Consumers have become smarter and machine savvy. Hence, there will be growth in the car washing system market during the forecast period.

On the basis of application, the market has been segmented as passenger car and commercial vehicle. The major players in the market offer a complete range of vehicle wash systems, comprising machines that are designed specifically for the care and cleaning of car interiors. The car wash system is deployed in passenger cars owing to its power of steam, hot air and a wide range of accessories, which allow complete treatment of the car’s surfaces.

Meanwhile, Asia Pacific is leading the market of car wash system due to the growth of the automotive industry. With the global economy experiencing a remarkable level shift, major developing countries in Asia Pacific region have become manufacturing hubs for global automotive players. The income levels of individuals have been steadily increasing, resulting in a rise in their disposable income. It is expected to contribute significantly in the growth of the market.

5.4

Our Services and Amenities

Like all other entrepreneurs, we as car wash business owners, will strive to keep our customers happy. It is better to give them the satisfaction they are searching for. It is true that customers go to car washes to have their vehicles cleaned or detailed, but adding the business amenities can increase the profits and promote customer satisfaction and loyalty as well.

1. Car Care Products Customers would appreciate us for the time and effort savings with the car wash service we could provide them with car care products offered. Instead of customers spending extra time and effort for them to look for car care products in other shops, they can just sit back and get our seek advice from our experts on car care products. Since there is time constraint and customers unfamiliar on car care products, the customer can directly get recommendation from us rather than customers to look for suitable car care products at outside. These products will include basic car cleaning materials that customers can use to clean up minor messes and stains within their vehicles. At the same time, we will also are able to generate the secondary revenues from the sale of car care products directly to customers.

2. Personalised wide range of services RHFH Mobile Spa is a standard and well-equipped mobile car wash and auto detailing company that offers a wide range of services that revolves around the car wash and auto detailing industry. We intend giving our customers every reason to always hire our services which is why we have customized our services. Basically, our services will involve us going out to services of clients’ needs. The services we will offer as a mobile car wash and auto detailing company includes mobile automotive detailing services, mobile automotive washing and polishing,

mobile automotive washes and other complimentary services.

6.0

DESCRIPTION FOR VENTURE

RHFH Mobile Spa is a business venture started by four young entrepreneurs who have a dream to deliver a doorstep car wash service in a manner that would give the customers a feature of approachability and easy to access. We aims to strive to build a strong brand name where we pledged to bring an excellent service to the customers’ door. “RHFH” is a combination of first letter of all partners name involve in this venture. The idea started when one of us experience an inconvenient situation at the car detailing shop and car wash shop. An unfavourable experiences such as long queue, hot weather, no air conditioning room and no entertainment ready for the customer to enjoy while waiting for their car to get done, give new refreshing idea to sets up a business where we can see the potential in this market.

As the business partner, we are designing a new business where we can eliminate any foreseen problems so as to solve these issue. As a normal car wash business will consuming customers’ time, energy and cost to go the car wash place, we come out with an idea to deliver the service while the customer can enjoy their leisure time at home. The target customer is those who would like to avoid all the mentioned difficulties. For example, employed citizen who having hectic daily life, customers who has no skill to clean own car and those who have restricted time to go car wash by themselves as well as customers with no proper place to wash their car, insufficient access of water or no equipment to get the job done. For instance, RHFH Mobile Spa targeting customer on the high rise building who do not have the luxury of car garage to let the RHFH Mobile Spa team to do the job.

Moreover, this service will be a very suitable for those customers who owns more than one vehicle. RHFH Mobile Spa is sending a team of two with a vehicle that carry water supply and own electricity upon request so the task can be done without the help of the customer to locate the basic supply for the team. RHFH Mobile Spa main product is a mobile team that will do the vehicle cleaning service at customer premise upon confirmation of booking. The service that we offer is not limited to certain package as customers could fully customize the order. For an example, a customer could make an appointment at their

convenient time and they can decide whether they would like the mobile team to use the basic resources like water supply and electricity with the purpose to reduce the charges. The goals are to get as much as possible customers who will love the car wash service at their doorstep.

The challenge we will face in this business venture is this concept is a bit new to customer hence there will be less response from customers. Other than that, there is very limited number of mobile team as our current manpower. Thereby, we are set a s...