Information Technology Business PLAN PDF

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Information Technology Business PLAN...

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INFORMATION TECHNOLOGY EXPANSION

BUSINESS PLAN

SUBMITTED TO: CENTRAL BANK OF NIGERIA (CREATIVE INDUSTRY FINANCING INITIATIVE FOR NIGERIAN YOUTHS – CIFI)

THROUGH: ZENITH BANK PLC

BY: MESSRS: T.O.L COMPUTERS AND MULTIMEDIA LTD CITY MALL, HAMMARUWA WAY, JALINGO, TARABA STATE. (RC510722)

MAY, 2019

TABLE OF CONTENTS 1.0

2.0

3.0

EXECUTIVE SUMMARY 1.1

Business Objectives

1.2

Mission Statement

1.3

Guiding Principles

1.4

Keys to Success

COMPANY DESCRIPTION 2.1

Ownership

2.2

Legal Form

2.3

Start-Up Summary

2.4

Location and Facilities

Marketing Strategy and Implementation 3.1

SWOT Analysis

3.1.1 Strengths 3.1.2 Weaknesses 3.13 Opportunities 3.14 Threats

1.0

Executive Summary T.O.L Computers and Multimedia Ltd (RC 510722) receive job orders from government agencies, world-bank assisted agencies, private organizations and individuals within and outside Taraba State. Tarabaonline (‘TOL’), is an information technology firm that specializes in ICT Training, website design and management, computer repairs and maintenance, VSAT installation, deployment and commissioning, training on desktop publishing, database management and application development support. TOL strives to provide the high quality manpower development with a concentrated focus on the corporate and private sectors. TOL, established in 2004, is located in Jalingo, Taraba State capital. The company currently has five full–time staff members with expansion plans to add 20 more within the next three years. TOL was formed in 2004 by Yakubu Adamu Jalingo when PTF was downsized and scrapped by the government of Chief Olusegun Obasanjo. Yakubu Adamu Jalingo has grown the company five-fold with the addition of 12 new employees and anticipates need for 20 more within the next three years. With over 15 years experience, Yakubu Adamu Jallingo has successfully subcontracted with 50+ local and national contracts through competitive bidding and supplies. TOL strives to foster and maintain solid relationships with its clients, fine tune its services, and continue to develop innovative information technology solutions that will improve the way our clients do business. Due to our unique size, TOL has the unique ability to act quickly and easily meets or beats its deadlines. The purpose of this plan is to create a strategy for TOL (TARABAONLINE) that will increase its revenues annually by 40%, and simultaneously grow assets 45%. Overall, this business plan will provide an in–depth understanding of the company, along with a plan for growth.

1.1

Business Objectives The primary objectives of Tarabaonline (TOL) are: (1) Provide custom solutions with outstanding customer service– which enhances its customer’s efficiency and secures TOL long relationship via contracts, services and recurring projects. (2) Grow company in staffing to accommodate the growing need for services by offering a dynamic work environment with flexible hours, a commitment

to ongoing education, and offer bonuses to commensurate with performance and earnings. (3) Focus on delivering contracts. TOL has a can do attitude and is happy to get the deliverables in the most efficient manner to its clients. 1.2

Mission Statement It is TOL’S mission to empower individuals and corporate bodies to meet their objectives through quality ICT services and manpower development. TOL strives to foster and maintain positive relationships with each and every client (both internal and external), by providing cutting edge information technology services at reasonable and competitive prices.

1.3

Guiding Principles Be Dedicated. Every day, consistency is key. Tarabaonline is dedicated to each and every job – down to the very last detail. It is this tenacity, attention and focus to detail on each and every project that defines the success of this organization. Be Dependable. Tarabaonline believes that a commitment to meet all its obligations punctually, honestly and honorably. Give and You Shall Receive. Give the thing you want most and you'll be amazed at what you get in return. Tarabaonline firmly believes in this philosophy and that its efforts can be multiplied for the greater good of the company, its customers and the community.

1.4

Keys to Success Tarabaonline considers the following factors to be the primary contributors of business success: • Diversification of product lines and customer base •A recurring revenue base •Management with rounded skill set in business growth and marketing •Sound financial management

2.0

Company Description Tarabaonline strives to foster and grow empowered relationships with government agencies, World-Bank agencies and individuals. With our corporate office located at City Mall, Jalingo, Taraba State, Tarabaonline easily targets ICT related services.

In turn, it is TOL belief that its customers will return time and time again for additional services and long term relationships. Tarabaonline has plans for some diversification and in the next 2 year horizon, plans to diversify our services by incorporating a comprehensive and modern CBT Center in Sardauda LGA of Taraba State. 2.1

Ownership Tarabaonline is wholly owned by Yakubu Adamu Jalingo, who is also the President, CEO and CFO. Yakubu Adamu Jalingo graduated from Federal Polytechnic, Mubi, Adamawa State with a HND in Mathematics and Computer Studies, as far back as 1994.

2.2

Legal Form Tarabaonline is an indigenous company that is duly registered with the Corporate Affairs Commission, Abuja in 2004 with the following RC510722, doing business in the State of Taraba, Nigeria.

2.3

Start-Up Summary N/A ITS has been operational for a period of 15 years.

2.4

Location and Facilities Tarabaonline Computers and Multimedia Limited is located at shop 25, City Mall, Hammaruwa Way, Jalingo, Taraba State. Modern Computers, Printers, Scanners, high end VSAT and other ICT facilities form the bulk of what we own in your various branches.

3.0

Business Growth strategy and Implementation: In order to grow and further expand its services to a selected local government in Taraba State, Tarabaonline must expand into new areas like the CBT. CBT Centers are centers were prospective UTME and Direct Entry candidates visit for registration and checking of results. Annually, CBT centers register students writing JAMB, WAEC, NECO, NABTEB and other online professional examinations. To expand our service delivery and profit, Tarabaonline seek to establish a CBT center in Sardauna LGA of the state. This is as a result of extensive and comprehensive feasibility study that points out to the viability of the project.

3.1

SWOTAnalysis 3.1.1 Strengths. By utilizing its lean experienced staff, focusing on specific target markets and providing detailed project outlines, TOL provides high end information technology services at a reasonable price. TOL is flexible, able to ‘turn on a dime’ and meet / exceed deadlines and easily adapts to changes as needed. TOL pursues a minimum of 20% of its revenues in the form of contracts – which provide income stability. 80% of our revenues are derived from Manpower Development (computer training), computer repairs and maintenance, website design and management. 3.1.2 Weaknesses. Product obsolescence and technology changes. Rapid life cycle; IT industry quickly can be subject to obsolescence with the advent of new technology. Substitution – many of the services TOL provides can be mirrored by competitors– even worse, larger competitors although have longer turnaround times, may be able to offer lower prices due to larger economies of scale. Customer base is limited with a potential for concentration risk should one sector become less than profitable. 3.1.3 Opportunities. TOL has already attained status not matched by any ICT firm in Taraba. Our company CV and clientele is the best in the state. Another advantage we enjoy as a firm is the number of individuals and highly placed government officials who were once our students. Tarabaonline is also recognized by World Bank Office Abuja as a service provider per excellence. Numerous world bank assisted offices in Taraba remain our clients for several years. 3.1.4 Threats. 1. Cash flow will be critical if payment from the contractor is delayed for any lengthy time period. 2. National and local competitors might be able to reduce their prices due to efficient in economies of scale.

EXECUTIVE SUMMARY: NAME OF BUSINESS:

T.O.L Computers And Multimedia Ltd

OWNER:

Yakubu Adamu Jalingo

LOCATION:

City Mall, Hammaruwa Way, Jalingo Taraba State.

NATURE OF BUSINESS:

Information Technology Services: Vsat Installation, Manpower Development, Computer Repairs, Programming, Networking, Dtp Services, Etc.

CUSTOMERS:

Government Agencies, Private Organizations, Individuals, Corporate Bodies, World-Bank Agencies in Taraba.

SOURCE OF FINANCE:

CBN CIFI Loan Initiative

STAFF:

12NO.

REQUIRED LOAN :

N7,952,000.00

SOURCES OF EXPANSION CAPITAL: OWNERS EQUITY CBN CIFI LOAN

N1,200,000.00 N7,952,000.00

BUSINESS EXPANSION REQUIREMENT FACILITIES: The following are the required facilities for expanding our business to include a CBT center in Sardauna LGA of Taraba State. 1. 100 fairly used complete HP Desktop PCs 2. 1No. A3 HP Laser Jet printer 3. 1No. HP stand-alone scanner 4. Partitioned Computer desks in Masonia or Black Apara 5. 12No. CCTV Cameras 6. 1No. Finger Print Scanner 7. 110No. Chairs – including CBT staff 8. 50No. Uninterruptible Power Supplies (UPS) 9. 1No. Fairly used 40KVA Standby Generator 10.

CAT 5 Cables for networking

11.

Network switches and routers

12.

Cost of Renting office block

S/No.

Equipments

Cost N3,500,000

1.

100 fairly used complete HP Desktop PCs @35,000 each

2.

1No. A3 HP LaserJet printer

3.

1No. HP stand-alone scanner

4.

Partitioned Computer desks in Masonia or Black Apara (Lot)

N500,000

12No. CCTV Cameras

N335,000

N220,000 N14,000

N13,000

5.

1No. Finger Print Scanner

6.

110No. Chairs – including CBT staff (lot)

N270,000

7.

50No. Uninterruptible Power Supplies (UPS) @16,000 each.

N800,000

8.

1No. Fairly used 40KVA Standby Generator

N600,000

9.

CAT 5 Cables for networking (lot)

N170,000

10.

Network switches and routers

N300,000

11.

Cost of Renting office block (3 years)

12.

Total:

N1,230,000 N7,952,000.00

DETAILED COST ANALYSIS OF EQUIPMENTS REQUIRED

(Seven million, nine hundred and fifty two thousand naira only)

PROJECTED CASH FLOW: (2020-2023) CBT centers nationwide enjoy payments from the likes of JAMB, WAEC, NECO, TRCN, OTHERS.

Each prospective student must pay a

registration fee of N700 or more, depending on the examination type. It is estimated that a typical CBT center registers between 700-1000 JAMB candidates each year. Almost the same number is achieved with WAEC, NECO, TRCN, OTHERS. Annually, between 3000-4000 students are registered by numerous CBT centers nationwide. Year 2020 2021 2022 2023 Total projected 4 years cash inflow.

Projected Cash Flow (JAMB, WAEC, NECO, OTHERS) N4,200,000 N4,200,000 N4,200,000 N4,200,000 N16,800,000 (sixteen million, eight hundred thousand naira only).

BANK DETAILS: BANKERS: ACCOUNT NAME: ACCOUNT NO:

ZENITH BANK PLC, JALINGO T.O.L COMPUTERS AND MULTIMEDIA LTD 1012192521

COMPANY DETAILS COMPANY NAME: REGISTERATION NO.: DATE OF REGISTERATION:

T.O.L COMPUTERS AND MULTIMEDIA LTD RC510722 2004...