Business Plan

Lifestyle InteriorsFunctionality with flair…

LiBusiness Plan

Submitted to:

Mir Semon HaiderCourse Instructor, MGT368North South University

Submitted by:

GROUP MEMBERS:

Kazi Naim UddinID# 052 027 030

Md. Abrar HossainID# 052 387 030

Syeda Samira SaifID# 043 267 030

Farihan F. RahmanID# 051 284 030

Faria Fahmin ShihabID# 042 323 030

M. Rafiuzzaman BokhariID# 043 227 030

GROUP

09/04/2008

April 9th, 2008.

Mir Semon Haider

Course Instructor, MGT 368

North South University

Banani, Dhaka-1212

Subject: Submission of the project report.

Dear Sir,

We are very pleased to submit the final project report of an interior design organization report for

the course MGT 368. Our main incentive is to prepare this project according to your guidelines

about ‘Entrepreneurship’ in accordance with your instructions. We have tried our best to produce

our work as per your strictures and hope we believe we have done an adequate job considering

our level of experience and expertise.

We are extremely grateful for the opportunity that you gave us to express our innovative ability

and we earnestly hope that you will like the work that we have done. Furthermore, we stand by

to answer all queries regarding our work and pledge that our report is a unique production

culminated by the amalgamation of our varied skills and had work.

Sincerely,

________________ ________________Kazi Naim Uddin Farihan F. Rahman052 027 030 051 284 030

________________ ________________Md. Abrar Hossain Faria Fahmin Shihab052 387 030 042 323 030

________________ ________________Syeda Samira Saif M. Rafiuzzaman Bokhari043 267 030 043 227 030

LiLIFESTYLE INTERIORS

13, KAMAL ATATURK AVENUE

BANANI, DHAKA.

(+8802) 01716966583

www.lifestyleinteriors.com

Co-owners: Kazi Naim Uddin, Md. Abrar Hossain, Syeda Samira Saif, Farihan F. Rahman,

Faria Fahmin Shihab, and M. Rafiuzzaman Bokhari.

Description of Business: Our business will provide for the interior design needs of both

individuals and organizations. We will seek to meet the increasing demand for high quality

presentation of living and work spaces for a diverse clientele and varying aesthetic needs. It will

be the aim of Lifestyle Interiors to ply its trade in this niche of the market and make our mark in

the Bangladeshi design industry.

Nature of the Business: Lifestyle Interiors will be a partnership business, governed by the

Partnership Act 1932, and all other laws pertaining to and in accordance with business of such

nature, as well as the conduct required by the legal strictures of Bangladesh.

Financing: We are investing an amount of Tk.50 lack per person which becomes Tk.3 crore as

our total capital. We are investing use this capital to cover our expenses for office space, salary

of employees, advertisements and so on.

This report is confidential and is the property of the co-workers listed above. It is intended only

for use by the person to whom it is transmitted, and any reproduction or divulgence of any of its

contents without the prior written consent of the company is prohibited.

Executive Summary

Interior design is a highly interactive and contemporary business that comes with the potential to

makes great profits, if the resources and the opportunities are used properly. With the

culmination of our efforts and future success in mind, we present to you, Lifestyle Interiors.

Lifestyle Interiors, a promising new interior design firm, will carve its mark in the design

industry of our country through creativity, dedication and uniqueness.

We all know that style and good presentation is increasingly a necessity in the modern world, and

to meet such demands people and corporate and turned towards interior design firms to

successfully provide for the demand. Therefore, the need for interior design firms is more than

ever and Lifestyle Interiors will attract people through our display of creativity, dedication and

uniqueness in our work.. Now-a-days people are getting bored looking at the regular event

following the same structure and pattern, but when these structures and patterns are mixed up,

then a new kind of theme arises. As we said before, we have the weapon of uniqueness with us

that will help to create the differentiation in attracting customers.

Lifestyle Interiors will establish a successful presence in the service industry. The flagship

location in Gulshan being a posh locale for upcoming private companies will help to achieve

generous sales in its first year of operation. Entrepreneurs have initiated many interesting

ventures in this growing sector in response to greater demand for luxury lifestyle and increasing

disposable income. Hence, we are expecting a confident level of profit for future expansion.

Home décor or interior designing is no more a mere status need only. Social acceptance,

personality portrayal and self confidence are some of the needs that people today seek while

attaching value to the home they purchase and design. Customer needs are not restricted to

product features; the price, convenience and representation of status matter as well. With their

constantly renewing designs, themes and contemporary styles to match the culture, Lifestyle

Interiors will know that our benefit provided will match the consumers’ needs. Therefore, we

define our customer group as the newly married couples, young executives, and also the

established aspirers who look for a refreshing change, who like to shop around, look for

difference, value our culture and language, as well as appreciate styles and fads. The middle

class and upper middle class seem to be our target market, as they are large enough segments for

Lifestyle Interiors to be profitable and also a market with needs which our firm believes it can

satisfy.

After analyzing the market thoroughly we found out that our target audience looks for the

following factors when they want to approach an interior designing firm for their need:

Optimize and harmonize the uses to which the built environment will be put.

Visual or ambient enhancement of an interior space

The project must be cost effective, within the due time and finally should be within the

budget.

The interior designer must have an aesthetic, practical and technical appreciation for

these elements. He or she must understand how people use and respond to these elements,

not just individually but as the elements interact with one another

Designers must also be knowledgeable about the many types and characteristics of

furnishings, accessories and ornaments used in creating interiors. Furniture, lighting,

carpeting and floor covering, paint and wall covering, glass, wrought metal, fixtures, art

and artifacts are just some of the many items and materials designers select from. In

addition, they must be familiar with the various styles and history of styles of design, art

and architecture.

It has been also noticed that most of our target audiences approach a firm after observing

the firm’s commitment level, dedication towards their clients and last but not the least,

how ethical the firm is in their work.

The interior design business is a highly competitive, demanding, high energy, vibrant, and at

times frustrating business. Today, to have a successful business or to work as a designer or

decorator (in essence, to be a successful sales professional) for someone else's business, you

must combine extensive business procedures and applications with your creative ability. It is

necessary to be familiar with and use a full realm of business practices. Due to the demand

Lifestyle Interiors will be all about helping the client develop their vision while analyzing their

design requirements. Lifestyle Interiors will provide services in the following manner:

Residential Interior Design: Our firm will focus on the planning and/or specifying of

interior materials and products used in private residences. In terms of scope and contract

amount, residential jobs are often smaller, but offer a higher profit margin particularly if

one is marketing the products to be used in designing the rooms.

Commercial Interior Design: For our firm, Commercial jobs, on the other hand, will be

much bigger in scope but the bidding that often accompanies the contract can push down

an entrepreneur’s profit margin. Commercial design will cover a wide variety of

specialties, such as entertainment (e.g. movies, theater, videos, theme parks, clubs,

dramatic and musical theater); facilities management (e.g. office moves or expansions);

government/institutional (e.g. government offices, embassies, museums), health care (e.g.

hospitals, nursing homes, long term care facilities); retail or store planning (e.g.

boutiques, department stores, malls, food retailing centers); hospitality/restaurant (e.g.

country clubs, hotels, cruise ships); and offices.

The design business is multi–faceted. Hence, we will provide work as a product–driven

designer or as a design consultant. Lifestyle Interiors ill also have designers who will

combine the task of conceptualizing the look of the given space with marketing a wide

variety of products. The designers may often market various products and even offer free

design advice if the client buys all of the products from our firm. Buyers will be allotted a

certain number of hours of free design advice; if more time is needed, the per hour fee is

to be charged. A product–driven designer will also charge a per hour rate to customers

who seeks advice but buys products from another company.

We at Lifestyle Interiors will not sell or market any product, but instead offer advice

about the design of a room or an office. We will be selling our design expertise, and not

any product.

Many fears and misunderstandings are generated by the different way interior designers charge

for what appears to be a similar service. An important part of our policy is to offer a no-

obligation first meeting that is completely free of charge. You can test the water without any risk

and if you decline our services we promise not to hound you.

For maximum flexibility we incorporate two break points in our fee structure. This allows you to

determine precisely the level of involvement our company has in your project.

The following fee structure is for residential clients being served by one of our design

professionals. Commercial contracts, overseas commissions and large public buildings are

subject to detailed quotation.







Our new marketing focus, made explicit in this plan, renews our vision and strategic focus on

adding value to our target market segments, the small business and high-end home office users,

in our local market. Our marketing challenge is to position our product and service offerings as

the high-quality, high value-add alternative to box pushing in a vacuum.

Lifestyle Interiors is providing its customers the opportunity to create a home environment to

express who they are. They have the choice to select their fabric and go whatever direction they

choose -- to fabric it themselves or have it done for them. They have the opportunity to actively

participate in the design, look, and feel of their home. They desire their home to be personal,

unique, and tasteful as well as communicate a message about what is important to them. We seek

to fulfill the following benefits that we know are important to our customers.

Selection - A wide choice of current and tasteful decorator materials.

Accessibility - The buyer can walk out of the office with the fabric and accessories

they need to begin their project.

Customer Design Services - Employees have a design background to make them a

resource for the customer. This enables customers to benefit from suggestions

regarding the selection of their fabric and related products in a manner to complement

their design choice.

Competitive Pricing - All products will be competitively priced in comparison to

other firms and other channels of distribution, such as catalog sales.

Fee structures vary widely, depending on the designer, complexity of the project, geographical

location and a host of other factors. Some of the ways interior designer's charges for their

services include:

Fixed fee (or flat fee)—The designers from Lifestyle Interiors will identify a specific

sum to cover costs. One total fee applies to the complete range of services, from

conceptual development through layouts, specifications and final installation.

Hourly fee—Some designers may charge based on the actual time spent on a project or

specific service based on the required detail and other professionals who may need to be

consulted.

Percentage fee—Compensation is computed as a percentage of construction/project costs.

Cost plus—A designer purchases materials, furnishings and services (e.g., carpentry,

drapery workrooms, picture framing, etc.) at cost and sells to the client at the designer's

cost plus a specified percentage agreed to by the client. The service charge is often put at

20–30 percent.

Retail—Others charge their clients the retail price of furnishings, furniture and all other

goods they get wholesale, keeping the difference as designer's fee and services. Retail

establishments offering design services commonly use this method. With this method,

clients get the designers services at a price no greater than he or she would have paid for

the products at retail.

Per square foot—Often used for large commercial properties, the charge is based on the

area of the project.

Our public relations plan is to pitch a twice-monthly column in the "Home" section of the local

paper, covering our in-store classes, with profiles of our customers and their redecorated rooms.

Readers will see how our classes directly relate to individual decorating projects.

Industry Analysis

Future Outlook and trends

Before crafting the following business plan, an in-depth industry and environmental analysis had

been conducted so that the trends and changes occurring on a national and international level that

can have an impact on the business was identified and sorted out. We have put maximum effort

to analyze factors such as economy in which we are in, the cultural trend that we follow, the

technological advancement that we have achieved and finally the legal and political obstacles

that we may face while starting our desired business.

Lifestyle Interiors will establish a successful presence in the service industry. The flagship

location in Gulshan being a posh locale for upcoming private companies will help to achieve

generous sales in its first year of operation. Entrepreneurs have initiated many interesting

ventures in this growing sector in response to greater demand for luxury lifestyle and increasing

disposable income. Hence, we are expecting a confident level of profit for future expansion.

Expansion plans will be underway once the firm starts to enjoy generous revenue. Owner

funding and internally generated cash flow will enable additional two stores to open in the future

in other parts of Dhaka City. Sales projections for the next 3 years will be based upon current

planned store openings. Site surveys will be completed and prime locations such as Dhanmondi

and Uttara will be targeted for store expansion. The additional two store locations will be

planned at these premium sites for customer convenience all over the city. Hopefully, this plan

will result in growing sales revenues and generate excess net income.

Analysis of competitors

A company must have certain minimum strengths to compete in a market. Right at this moment

in the market, we have few but strong competitors but still, it can be said that many firms are

coming up with their services as demand grows. We believe based on their offerings and training

we will win more profitable jobs due to the lack of skills on their part. Some of the interior

designing firms which may act as direct competitors for our firm have been mentioned below.

Concord Architects & Interior Decor Ltd.

8, Mohakhali C/A

Dhaka-1212, Bangladesh.

Exterior Interior (Pvt.) Ltd.

3/3-D, Bijoy Nagar, Kakrail

Dhaka-1000, Bangladesh.

Interior Depot

House # 6, Road # 9, Gulshan # 1

Dhaka - 1212, Bangladesh.

Interdec System

House # 6, Road # 9, Gulshan # 1


Chhabi Ghar

218, New Elephant, Road.


Charuta Pvt. Ltd.

60 Kemal Ataturk Avenue, Banani


Most of these firms offer design consultations, however these are very limited as the focus is

always on the products they sell, and not what products are new or available in the market. Some

of the firms such as Charuta and Chabi Ghar have staff that are all in sales and are designers.

While these companies do a lot of business, they have designers who are educated and have been

certified as a professional designer. We believe once we open up shop this firm will try to hire

qualified staff. In the short term this will be beneficial to us; over time thought clients will see

the quality of work we offer and this firm will only be able to get contracts that are low bidder

win types where quality is not an issue and the potential for profit may be limited. The other

firms such as Interdec and Concord have no designers and they just give their best opinions.

They tend not to go after clients; however they will take a sale if it walks in the door. Our goal

will be to co–contract with this company and offer our consultations to this firm under contract.

That way they will still make money for the referral and we will offer their clients top services.

Market Segmentation

Home décor or interior designing is no more a mere status need only. Social acceptance,

personality portrayal and self confidence are some of the needs that people today seek while

attaching value to the home they purchase and design. Customer needs are not restricted to

product features; the price, convenience and representation of status matter as well. With their

constantly renewing designs, themes and contemporary styles to match the culture, Lifestyle

Interiors will know that our benefit provided will match the consumers’ needs. Therefore, we

define our customer group as the newly married couples, young executives, and also the

established aspirers who look for a refreshing change, who like to shop around, look for

difference, value our culture and language, as well as appreciate styles and fads. The middle

class and upper middle class seem to be our target market, as they are large enough segments for

Lifestyle Interiors to be profitable and also a market with needs which our firm believes it can

satisfy.

After analyzing the market thoroughly we found out that our target audience looks for the

following factors when they want to approach an interior designing firm for their need:

Optimize and harmonize the uses to which the built environment will be put.

Visual or ambient enhancement of an interior space

The project must be cost effective, within the due time and finally should be with in the

budget.

The interior designer must have an aesthetic, practical and technical appreciation for

these elements. He or she must understand how people use and respond to these elements,

not just individually but as the elements interact with one another

Marketing

Price Promotion

Place DistributionLifestyle Interiors

Target Market for 2008

Designers must also be knowledgeable about the many types and characteristics of

furnishings, accessories and ornaments used in creating interiors. Furniture, lighting,

carpeting and floor covering, paint and wall covering, glass, wrought metal, fixtures, art

and artifacts are just some of the many items and materials designers select from. In

addition, they must be familiar with the various styles and history of styles of design, art

and architecture.

It has been also noticed that most of our target audiences approach a firm after observing

the firm’s commitment level, dedication towards their clients and last but not the least,

how ethical the firm is in their work.

After considering all the factors and analyzing the target market we got to know that yes, our

team is ready for the challenge and we believe that we can fulfill all the wants of our clients. If

we offered quality work and competitive prices, Lifestyle Interiors would enjoy many interesting

work.

Industry Forecasts

The interior design business is a highly competitive, demanding, high energy, vibrant, and at

times frustrating business. Today, to have a successful business or to work as a designer or

decorator (in essence, to be a successful sales professional) for someone else's business, you

must combine extensive business procedures and applications with your creative ability. It is

necessary to be familiar with and use a full realm of business practices. Due to the demand

reason and the huge opportunity of having high amount of profit this industry is growing quite

rapidly and it is creating a new door for the business people.

SWOT Analysis Summary

The following SWOT analysis captures the key strengths and weaknesses within the company,

and describes the opportunities and threats facing Lifestyle Interiors.

Strengths

Strong relationships with suppliers that offer credit arrangements, flexibility, and

response to special product requirements.

Excellent and stable staff, offering personalized customer service.

Great retail space that offers flexibility with a positive and attractive atmosphere.

Strong merchandising and product presentation.

Good referral relationships with complementary vendors, local realtors, and some

designers.

High customer loyalty among repeat and high-dollar purchase customers.

Weaknesses

Cash flow continues to be unpredictable.

Owners are still climbing the "Design experience curve."

Challenges of the seasonality of the business.

Opportunities

Growing market with a significant percentage of our target market still not knowing we

exist.

Continuing opportunity through strategic alliances for referrals and marketing activities.

Benefiting from high levels of new home construction.

Changes in design trends can initiate updating and therefore sales.

Increasing sales opportunities beyond our "100-mile" target area.

Internet potential for selling products to other markets.

Establishing a web portal of our services

Threats

Competition from a national design firm; or a store with greater financing or product

resources could enter the market.

Continued price pressure, reducing contribution margins.

Dramatic changes in design, including fabric colors and styles, creates obsolete or less

profitable inventory.

Description of Venture

Mission:

Our mission comprises establishments primarily engaged in planning, designing and

administering projects in interior spaces to meet the physical and aesthetic needs of the people

using them. Our interior designers and interior design consultants will work in areas such as

hospitality design, health care design, institutional design, commercial and corporate design and

residential design. Moreover, our firm will have interior decorating consultants engaged

exclusively in providing aesthetic services associated with interior spaces. Lifestyle Interiors will

also be involved in purchasing a range of interior decorating products and incorporating these

products directly into a client's living or working area.

Vision:

Our firm will have the vision to become an “epitome of Innovative Lifestyle in creating a flexible,

functional environment that optimizes your space and relates to your clientele, business, image

and location.” This will involve elevating spaces to new heights, performing magic before eyes

of the customers, and making them believe in possibility. This is why we at Lifestyle Interiors,

will come to work every day. In the upcoming years we want to be distinguished for creating

ideas and producing subjective themes as per the requirements, allocated budget and assigned

time, right from the meticulous planning, envisage, conceptualizing, and production and finally

turning even the most minor space into a triumph.

Why hire Interior Designing Firms?

Interior design is the total creative solution for a programmed interior. It encompasses the

conceptual planning, aesthetic and technical solutions applied to achieve the desired result. A

"programmed interior" means a specific intended purpose or use of the built environment.

Many factors come into play in formulating the design solution. There is the space itself--its

dimensions and construction--with its potential and its limitations. There is how the space will be

used--for work or leisure, entertainment or worship, healing or learning. There is the meaning of

the space, what it signifies--be it power, authority, security, wisdom, achievement, playfulness or

serenity. There are practical considerations, like ease of access, amount of light, acoustics,

seating and places to store or set things down. There are health and safety considerations,

attention to special needs and more.

The elements of design range from the visual (color, lighting, form) to the tactile (surface, shape,

texture) to the auditory (noise, echo). The designer must have an aesthetic, practical and

technical appreciation for these elements. He or she must understand how people use and

respond to these elements, not just individually but as the elements interact with one another.

Designers must also be knowledgeable about the many types and characteristics of furnishings,

accessories and ornaments used in creating interiors. Furniture, lighting, carpeting and floor

covering, paint and wall covering, glass, wrought metal, fixtures, art and artifacts are just some

of the many items and materials designers select from. In addition, they must be familiar with the

various styles and history of styles of design, art and architecture.

Services at Lifestyle Interiors

Interiors can look many different ways, but how they work is more important. Designing

environments that satisfy your needs requires understanding your space's current and future uses.

Consulting with our interior design firm will not be about imposing ideas and personal taste onto

a client. It will be about client and designer coming together to create a unique space. Moreover,

Lifestyle Interiors will be all about helping the client develop their vision while analyzing their

design requirements. Lifestyle Interiors will provide services in the following manner:

Residential Interior Design: Our firm will focus on the planning and/or specifying of

interior materials and products used in private residences. In terms of scope and contract

amount, residential jobs are often smaller, but offer a higher profit margin particularly if

one is marketing the products to be used in designing the rooms.

Commercial Interior Design: For our firm, Commercial jobs, on the other hand, will be

much bigger in scope but the bidding that often accompanies the contract can push down

an entrepreneur’s profit margin. Commercial design will cover a wide variety of

specialties, such as entertainment (e.g. movies, theater, videos, theme parks, clubs,

dramatic and musical theater); facilities management (e.g. office moves or expansions);

government/institutional (e.g. government offices, embassies, museums), health care (e.g.

hospitals, nursing homes, long term care facilities); retail or store planning (e.g.

boutiques, department stores, malls, food retailing centers); hospitality/restaurant (e.g.

country clubs, hotels, cruise ships); and offices.

The design business is multi–faceted. Hence, we will provide work as a product–driven

designer or as a design consultant. Lifestyle Interiors ill also have designers who will

combine the task of conceptualizing the look of the given space with marketing a wide

variety of products. The designers may often market various products and even offer free

design advice if the client buys all of the products from our firm. Buyers will be allotted a

certain number of hours of free design advice; if more time is needed, the per hour fee is

to be charged. A product–driven designer will also charge a per hour rate to customers

who seeks advice but buys products from another company.

We at Lifestyle Interiors will not sell or market any product, but instead offer advice

about the design of a room or an office. We will be selling our design expertise, and not

any product.

Size of business

The size of the business in here is very small. It is a small type of business which is going to be

started by six entrepreneurs all together.

Office equipment and personnel

Equipment: Our interior design business requires basic office supplies and equipment such as

computers, telephones, and fax. In addition to the standard word processing and spreadsheet

software, invest in AutoCAD software to present more professional looking design solutions to

clients with three–dimensional realism.

We also need to buy books of samples, which are the lifeblood of a design business.

Manufacturers of wallpapers, paint and carpets produce samples each representing various

products in all sorts of design and colors. We will try negotiating with sales representatives, as

they can give some of these sample books for free, particularly if they see the potential that w

can sell their product.

When buying samples, we will be very careful of companies that will require us to purchase pre–

selected samples on a monthly basis—even if we don't need it. We will also be in touch with

various wallpaper, paint and large fabric companies in practice such as Azad Products, Berger

Paints etc.

Background of entrepreneurs

Syeda Samira Saif, Head of Finance and Accounts

MBA, Major in Finance and Accounting. After graduation, she worked at BRAC Bank as a

Management Trainee, and later secured an experience of 2 years in Standard Chartered Bank and

another 3 years in the sales department of Nestle. After completing her MBA, Major in

Marketing, she took an interest at the homebuilders and interior designing and saw the

opportunity to start her own business.

Kazi Naim Uddin, Head of Marketing and Selling

MBA, Major in Marketing. He has 5 years experience in a multinational telecommunication

marketing department. He has obtained training on sales and marketing at home and abroad. His

stake in Lifestyle will not be his only entrepreneurial initiative. A dynamic marketing person, he

will be our point man in seizing market share from our competitors.

Md. Abrar Hossain, Head of HR

MBA specialized in Human Resource Management. He has 4 years experience in a

multinational company and 1 year in local corporate house. His interest ran more towards

starting his own business, so when the opportunity presented itself, he started out on a new

business with some friends and started “Lifestyle Interiors”.

Farihan F. Rahman, Head of Customer Care

After completing his bachelors’ from North South University, majoring in Human Resource

Management and International business, Farihan went on to do an international internship as a

management trainee at Pricewaterhousecoopers in U.S. After finishing there, he went for a MBA

in the California State University, Los Angeles. After graduating, he returned to Bangladesh and

opened his own event management firm called “Cloud 9 entertainment”. While working in

different events at different venues, he noticed the need for customized interior designing. Thus,

he ventured on a new business with some friends and started “Lifestyle Interiors”.

Faria Fahmin Shihab, Head of Public Relations

Faria graduated from North South University with double major in Marketing and International

Business. After graduation, she worked at Brac Bank as a Management Trainee, and later secured

an experience of 2 years in Standard Chartered Bank and another 3 years in the sales department

of Nestle. After completing her MBA, Major in Marketing, she took an interest at the

homebuilders and interior designing and saw the opportunity to start her own business.

M. Rafiuzzaman Bokhari, Head of Information Systems

MBA, Major in Information Systems and Finance. He has for Young Star Syndicate and

Seluloyd, and is also looking after his family business. While working in different events at

different venues, he noticed the importance for customized interior designing. Thus, he ventured

on a new business with some friends and started “Lifestyle Interiors”.

Service Plan

Interior Design Fees Structure







The following fee structure is for residential clients being served by one of our design

professionals. Commercial contracts, overseas commissions and large public buildings are

subject to detailed quotation.

Design Stage

Initial Meeting - Free of charge.

Subsequent Meetings – consultancy fee unless project contract has been signed and relevant

disbursements made.

Design Fee - as quoted from our charge lineup per room, including sample board. The design fee

covers sourcing of all fabrics, wall and floor coverings, acquisition of samples and brochures and

standard room survey.

3D Drawings - colour rendered 3D drawings of room schemes can be provided if client requires,

at a given charge depending on the project involved.

Sourcing of furniture, light fittings and accessories - this is recommended to achieve the full

implementation of the designed interior.

Progress Stage

Contracts and planning - All design drawings required to detail the project are included in the

design fees. Drawing alterations beyond those considered reasonable during the collaborative

design process are charged per hour basis. Photocopies are charged at cost. Preparation and

submission of appropriate application for consent to local authority. The specifications take the

form of a point by point instruction list for the implementation of the design as conceived and

drawn by us. They ensure that a contractor quotes on the whole job by eliminating

misunderstandings about the scope of the work; this reduces the incidence of chargeable extras at

the end of the project.

Commissioning of specifications is mandatory if you intend to get a quotation from one of our

recommended contractors.

Break point - You may choose to implement the designs yourself at this stage. The design

materials and drawings supplied will facilitate this.

Building and Decorating Specifications - Once the design is approved the client has the option to

commission full building and decorating specifications for each room. These are highly desirable

documents used to detail the works required to the contractor for quotation purposes and to guide

the activities of the contractor during the project itself. We prefer to charge for our professional

services and avoid loading our materials pricing. We charge competitive pricing but reserve the

right to add a handling charge of 20% to antiques and artwork.

VAT is applicable on supply of materials.

Break point - From this point you are fully equipped to find, appoint and manage your own

contractor.

Co-ordination of Contractors - Following client approval of design drawings and the commission

of full specifications we can obtain an estimate from one of our recommended contractors. Once

the estimate has been approved and the contractor appointed the work is then coordinated by the

staff and involved agents. The commission for this service is 12.5% of the contractor's final

account.

Execution of Concept

Execution of project begins after the client in presented with the concept. The execution

proceeds in Phases. Phase 1 being Concept Development

Phase 2

Finalize all schemes and decorative treatment

Prepare design drawings needed for custom furniture and any interior architectural

details.

Submit final drawings to various contractors necessary to interpret our design concept.

Finalize and prepare specification of all approved selection.

Prepare budget costs.

Design Firm to consult with architect or other professionals in connection with project if

necessary.

Phase 3

During Progress of work Review all working drawings, specifications, and finished

schedules submitted by contractor to ensure adherence to our design.

Approve all materials, finishes, and color samples submitted by contractors. Supervise all

decorative work in field. Inspect all installations at job site.

Project Management

Project management includes:

During Progress of work Review all working drawings, specifications, and finished

schedules submitted by contractor to ensure adherence to our design.

Approve all materials, finishes, and color samples submitted by contractors.

Supervise all decorative work in field. Inspect all installations at job site.

Supply Stage

Supply of Materials (Residential) - Fabrics, wallpapers, furniture, accessories, floor coverings

etc. supplied at competitive prices. A detailed quotation is supplied for the client’s approval prior

to the placement of any purchase orders.

Supply of Materials (Commercial) - We charge a negotiated handling commission based on a

percentage of the total cost price of the supply contract. We reserve the right to decide the

commercial status of any potential project and proof of status will be required.

Disbursements - Standard postage, telephone, travel within the region of operation and parking

are included. Overseas phone calls and faxes charged at cost. Photocopies of design drawings are

charged at cost. Special courier charged at cost. Most of our day to day costs are covered by the

standard design fee. However extraordinary costs as detailed are chargeable. Travel and parking

outside the within the region of operation and unavoidable accommodation fees are chargeable at

cost. VAT is applicable on disbursements charged.

Payment of Account - A design fee deposit of 50% is payable upon engagement with the

remainder payable upon delivery of sampleboard or design drawings. A deposit of 75% (100% in

the case of fabrics, trimmings, wallcoverings and bespoke furniture items) against detailed

quotation for materials is required to facilitate ordering. Remainder payable upon terms set out in

agreement letter. Design Fees are invoiced upon delivery of the sampleboard or design drawings.

The balance payment must be received no later than seven days after the date of the invoice.

No materials will be ordered until a deposit of 75% (100% in the case of fabrics, trimmings,

wallcoverings and bespoke furniture items) of the full invoice value (including VAT) has been

received.

Final payment for any one item becomes due prior to delivery of that item.

We undertake to supply up-to-date statements of account with our requests for payment or upon

demand.

Physical Plant

Marketing Plan

Marketing Plan

Our new marketing focus, made explicit in this plan, renews our vision and strategic focus on

adding value to our target market segments, the small business and high-end home office users,

in our local market. Our marketing challenge is to position our product and service offerings as

the high-quality, high value-add alternative to box pushing in a vacuum.

Market Needs

Lifestyle Interiors is providing its customers the opportunity to create a home environment to

express who they are. They have the choice to select their fabric and go whatever direction they

choose -- to fabric it themselves or have it done for them. They have the opportunity to actively

participate in the design, look, and feel of their home. They desire their home to be personal,

unique, and tasteful as well as communicate a message about what is important to them. We seek

to fulfill the following benefits that we know are important to our customers.

Selection - A wide choice of current and tasteful decorator materials.

Accessibility - The buyer can walk out of the office with the fabric and accessories they

need to begin their project.

Customer Design Services - Employees have a design background to make them a

resource for the customer. This enables customers to benefit from suggestions regarding

the selection of their fabric and related products in a manner to complement their design

choice.

Competitive Pricing - All products will be competitively priced in comparison to other

firms and other channels of distribution, such as catalog sales.

Pricing Structure:

Fee structures vary widely, depending on the designer, complexity of the project, geographical

location and a host of other factors. Some of the ways interior designer's charges for their

services include:

Fixed fee (or flat fee)—The designers from Lifestyle Interiors will identify a specific

sum to cover costs. One total fee applies to the complete range of services, from

conceptual development through layouts, specifications and final installation.

Hourly fee—Some designers may charge based on the actual time spent on a project or

specific service based on the required detail and other professionals who may need to be

consulted.

Percentage fee—Compensation is computed as a percentage of construction/project costs.

Cost plus—A designer purchases materials, furnishings and services (e.g., carpentry,

drapery workrooms, picture framing, etc.) at cost and sells to the client at the designer's

cost plus a specified percentage agreed to by the client. The service charge is often put at

20–30 percent.

Retail—Others charge their clients the retail price of furnishings, furniture and all other

goods they get wholesale, keeping the difference as designer's fee and services. Retail

establishments offering design services commonly use this method. With this method,

clients get the designers services at a price no greater than he or she would have paid for

the products at retail.

Per square foot—Often used for large commercial properties, the charge is based on the

area of the project.

Income Potential:

What is unique about the interior design business is that one never does the same job twice. It

will be hard to place a specific price on individual projects. What the firm will earn from a job

that requires redecoration of an entire room from the carpet, wallpaper to upholstery will be

different from a job that requires oneself to put up drapes to ten windows.

Promotion

Branding: This is one of the most important aspects for us. We want to establish ourselves in the

market as the most unique interior design firm. Our name is our brand. "Lifestyle Interiors"

represents our mission of celebrating the home through the color and texture of fabric and

design. The brand invokes the fact that the home should be a unique and personalized expression

of the person living there. The home is a vision of the home's owner

In addition to our name, our logo reflects the architectural quality of the work that we do. Our

products are more than just decoration; they enhance and reflect the home itself.

Marketing Mix

In brief, our marketing mix is comprised of these approaches to pricing, distribution, advertising

and promotion, and customer service.

Pricing -- A keystone pricing formula will be applied for most works. The goal is to have price

points within 5% of the list price. This insures competitive pricing and strong margins.

Distribution – As this is a service, distribution medium will primarily be advertising and

promotion. The firm will receive phone orders from established customers and we will be

developing a website. Also, distribution can be done through catalog servicing.

Advertising and Promotion -- The most successful advertising will be through the Newspapers

and through ads on Interior Designing television shows. The quarterly newsletter will also be

proven to be an excellent method to connect with the existing customer base.

Customer Service -- Excellent, personalized, fun, one-of-a-kind customer service is essential.

This is perhaps the only attribute that cannot be duplicated by any competitor.

Market Penetration: Our plan is to gradually penetrate the market using all these mix of

marketing and promotional strategies. We want to establish ourselves as a unique interior

designing firm that caters to the customers every need. In 3 years, we hope to reach a high stage

and offer unique services to our clients which no other firm can.

Public Relations

Our public relations plan is to pitch a twice-monthly column in the "Home" section of the local

paper, covering our in-store classes, with profiles of our customers and their redecorated rooms.

Readers will see how our classes directly relate to individual decorating projects.

Financial objectives: create sales growth of 12%, reduce existing credit line, and increase the

average taka amount per transaction

Marketing objectives: increase visibility of the company for potential customers, and better

retain existing customers

Promotional Tools are an important aspect of our business venture. We hope to stand out in the

market using our unique selling point (USP):

Our primary points of differentiation offer these qualities:

The most extensive access to in-stock, first quality decorator fabrics within 100 miles of

our primary geographic market and offered at affordable prices.

The largest selection of special-order fabrics, with arrangements to have most of those

products shipped to the store within 10 days of placing the order.

Personal assistance from a design-oriented staff that is qualified and capable of meeting

the needs of discerning customers with high expectations.

Complementary product offering, including hard-covering window treatment, hardware,

home accessories, made-to-order upholstered furniture, and antiques that are designed,

selected, and displayed in a way to emphasize the use of fabric in home design.

Positioning

For the person creating a personalized and unique impression of his/her home or office, Lifestyle

Interiors is the best local source for selection and price points of the fabric, customer-oriented

design services, and a variety of other home accessory and furniture products. Customers will be

impressed with, and return for, the great in-stock selection, value-oriented pricing, and excellent

customer service. Lifestyle Interior is a pleasant and tasteful resource that encourages everyone

in the process of decorating their home. Unlike employing an interior decorator, Lifestyle

Interior allows the individual to participate in their design choices to the extent they choose, and

realize greater value for the money they invest.

Lifestyle Interiors will rely extensively on word of mouth advertising. However it will be

important to create awareness of our services to the target market. To attract attention and create

awareness, signs and billboards will display our name and describe our services to the many

individuals who maybe interested to take our service. Pamphlets will also be distributed along

with weekly magazines and local newspapers to residential and official buildings in the target

market.

We will also maintain close network with builders, real estate companies and developers.

Newspapers and magazines will also display special editorial columns and print ads on weekdays

describing Lifestyle Interiors and its services.

Service forecasts

Service

In Lifestyle Interiors, our first goal is to recognize everyone as they come into the office. If they

are a repeat customer, they are to be referred by name. If they are a new customer, they are

asked, "How did you hear about us?" Help is always available and never invasive. The office is

staffed to be able to dedicate time and energy to customers that want assistance when they need

it. The office is designed so a customer can sit as long as they want to look at design books,

fabric samples, and review the resources in the store. Their children are also welcome, with a

television, and toys available in the children’s' area in clear view of the resource center. We will

provide service in a way that no other competitive interior design firm can touch. It is one of our

greatest assets and points of differentiation. Insight, ideas, inspiration, and fun is the goal. A

repeated, high value purchase from loyal customers is the desired end product.

We at Lifestyle Interiors understand that virtual makeovers have revolutionized interior design

from a customer perspective, making the design process more interactive and exciting, in a

relatively technological but labor intensive environment. The low level of industry concentration

and the low barriers to entry ensure that competition will remain intense in the future.

Lifestyle Interiors is a customized designer office of home decorator accessories and

complementary home items now in its third year. This destination store offers the advantages of

providing accessories and fabrics specifically designed for home decorator use. Over 1,000

fabrics and design materials are available on the floor at any time. The goal of this Web plan is to

extend the reach of the store to others outside the area and add to the revenue base.

Lifestyle Interiors currently has a website but has not given it the attention or focus needed to

assess its marketing potential. The site offers basic functions and we consider it to be a crude

version of what we can imagine it will become through a site redesign that will produce revenue

and enhance the image of the business.

Market research indicates a specific and growing need in the area for the products and services

Lifestyle Interiors offers in the market it serves and there are indications that Web sales will play

an increasing role in connecting customers with sellers. The most significant challenge is that the

core target customer, women between the ages of 35 and 50, are some of the least likely of

groups to shop on the Web. Shopping for home designs presents an additional challenge.

The online marketing objective is to actively support continued growth and profitability of

Lifestyle Interiors through effective implementation of the strategy. The online marketing and

sales strategy will be based on a cost effective approach to reach additional customers over the

Web to generate attention and revenue for the business. The Web target groups will include the

more Web-savvy younger customer base that the firm will like to serve (women between the ages

of 25 and 35) and out-of-area potential customers that are already shopping on the Web for the

products Lifestyle Interiors offers. The website will focus on its selection, competitive pricing,

and customer service to differentiate itself among other Internet options.

Lifestyle Interiors’ website is for the person who wants his/her home to be an individual

expression of who he/she is. Lifestyle Interiors will provide these customers with first quality

decorator material selections and complementary products to decorate their homes, as well as

intelligent and helpful customer service and support for each sale.

Lifestyle Interiors is a pleasant and tasteful resource that encourages everyone in the process of

decorating their home, allows the individual to participate in their design choices to the extent

they choose, and offers greater value for the money they invest.

Product Marketing

Our products enable our customers to experience support, gather ideas and options, and

accomplish their decorating goals. They will be able to create a look that is truly unique to their

home. They will not be able to do this in the same way through any other resource.

Pricing

Product pricing is based on offering high value to our customers compared to most price points

in the market. Value is determined based on the best quality available, convenience, and

timeliness in acquiring the product. We will consistently be below the price points offered

through interior designers and consistently above prices offered through the warehouse/seconds

firms, but we will offer better quality and selection.

Advertising

We plan to advertise heavily in Dhaka and also expand newspaper advertisements to different

cities, and buy two half-page ads every month. Continue television ads.

Controls

The following will enable us to keep on track. If we fail in any of these areas, we will need to re-

evaluate our business model:

Gross margins at or above 45%.

Month-to-month annual comparisons indicate an increase of 20% or greater.

Do not depend on the credit line to meet cash requirements.

Implementation

We will manage implementation by having a weekly milestones meeting with the entire staff to

make sure that we are on track with our milestones and re-adjust our goals as we gather new

data.

Keys to Success

Maintain gross margins in excess of 45%.

Retain customers to generate repeat purchases and referrals.

Organizational Plan

Organizational Plan:

An organizational plan is a very important part of any business plan. Here, we have tried to

create a well informative organizational plan that will give any potential investor a clear

understanding of who controls the organization and how other members will interact in

performing their management function.

Owners and their Authority:

LIFESTYLE INTERIOR will be a privately owned firm and will be operated by its founder

partners, Kazi Naim Uddin, Md. Abrar Hossain, Syeda Samira Saif, Farihan F. Rahman, Faria

Fahmin Shihab and M. Rafiuzzaman Bokhari. Each of them will share the profit and all are

active participants in management decisions. As they are equally qualified in different areas of

business sector, they are currently acting, as the heads of different departments to minimize

personnel cost.

Organization Philosophy:

The company's management philosophy is based on responsibility and mutual respect.

LIFESTYLE INTERIOR has an environment and structure that encourages productivity and

respect for clients and fellow employees. The company's goal is to create an environment where:

Creativity can flourish.

Generating new ideas and products is well rewarded.

Management structure is relatively flat and communication is encouraged.

Mutual respect and sharing of knowledge is encouraged.

Organization Structure:

Our organizational structure will be simple and based on a relatively flat approach. We will have

a management team of six people handling the various management aspects of the business, and

a design team of seven, including a chief designer with 3 subordinate designers and 3 draftsmen.

Aside from the core team, we will also have a peon for small errands and office maintenance,

and a guard for security. Our top level strategy formulation will be dealt with by the management

team, composed of all the founding members.

Management Team

Syeda Samira Saif, Head of Finance and Accounts - MBA, Major in Finance and Accounting. He

has 5 years experience in Standard Chartered Bank Ltd.; and is also looking after his family

business.

Kazi Naim Uddin, Head of Marketing and Selling - MBA, Major in Marketing. He has 5 years

experience in a multinational telecommunication marketing department. He has obtained training

on sales and marketing at home and abroad.

Md. Abrar Hossain, Head of HR, MBA specialized in Human Resource Management. He has 4

years experience in a multinational company and 1 year in local corporate house.

Farihan F. Rahman, Head of Customer Care, with an MBA in management. He will manage the

Customer Care service Department. He has worked in the position of General Manager for

Grameen Phone Co. for about 2 years.

Faria Fahmin Shihab, Head of Public Relations. An MBA with dual major in HR and Accounting

and INB. Moreover, she has a five year experience in HR Department of a foreign company.

M. Rafiuzzaman Bokhari, Head of Information Systems - MBA, Major in Information Systems

and Finance. He has for Young Star Syndicate and Seluloyd, and is also looking after his family

business.

Roles and Responsibilities of Members of organization

Top level strategy and management: Our top level strategy formulation will be dealt with by

the management team, composed of all the founding members.

Management team:

Head of Finance and Accounts – will be in charge of all accounts and finances of our company,

and all matters dealing with it.

Head of Marketing and Selling – will be our marketing guru and the person who can formulates

the selling strategies and watches the market for changes which affect our business.

Head of HR – will be our people person for our employees, maintaining the pay scales chart and

strategies to maintain our employee pool and attract/scout talent (and keep it).

Head of Customer Care – will be in charge of dealing with our client handling and formulating

our service and after service plans for customer care.

Head of Public Relations – will be in charge of dealing with public relation issues and be our

representative for the outside world, and also the person we will rely upon to scout out new

opportunities for our business in terms of new clients.

Head of Information Systems – will be in charge of all technology related issues such as

computer information systems, the latest software and hardware, and how they can help us in our

business. The constant upgrade to stay in touch with the latest technology while doing a cost

benefit to justify it, will also be part of the job.

Design team:

Chief Designer – will be in charge of coordinating and planning the design effort with the rest of

the design team and advising on projects and the dos and don’ts of our current capabilities.

Designer – the subordinate designers will work under the chief and will be the backbone of our

design firm.

Draftsmen – will work for the designers and prepare the necessary materials and finishing for

drawings and models.

Workers:

Peon – miscellaneous office work.

Guard – in charge of office security.

Assessment of Risk

Assessment of Risk

We have done an assessment of risk and the reason behind that is in every new venture there are

some probabilities of potentials hazards in the industrial environment and as well as in the

competitive environment. Then we have also given some alternative strategies to meet our

business plan goals and objectives.

The company recognizes that it is subject to both market and industry risks. The company's view

of its risks, as well as how each is being addressed, is as follows:

Regulations: Possible problems caused by a sudden change in regulation by local, State

authorities can affect this industry a lot. From the time that care taker government has taken over,

the condition of most of the industries is not that good. Though they have not changed any

regulations for any event management companies yet, but they have already changed many

regulations of other industries so there is no guarantee that they will not change anything from

this sector

Legal issues: Event management firms always have to ask for permissions from the city mayor,

police officer in charge of that area, nowadays from RAB and sometimes from other authorities

too. If these authorities do not allow the event to take place then we the management of Triumph

Media just can not do anything to make it possible.

Client’s control or Bad Debt: Since the company is new, it will be seen that the clients will ask

the company to do an event for them; and pay the company after successfully completing the

work. In this sort cases most of the time it has been seen that when the payment time comes

usually the clients do not agree to give the full amount, that both the parties fixed before. This

may lead to some problems for the company as they are not receiving that the amount they

targeted and worked accordingly.

EVALUATE WEAKNESSES OF BUSINESS:

Every business is subject to exposure to the chance of injury or loss that is risk, which arises

from the weaknesses of the business.

In uncertain economic times, most businesses may have to undergo downsizing to curtail

the cost associated with the company. In case of manufacturing business as long as the

product and it delivery is properly done customers will be happy. But in a service based

business the satisfaction of the customer is more often related to one particular person

who may be providing the service. Thus in a downsize if we have to lay off a designer

then clients who prefer designs of that designer may switch.

There is shortage of skilled carpenters, glaziers and metal workers who can produce

good quality work. Suitable materials for good design are not available at all or in

large enough quantities to use them in interior design. Consequently, this raises the

cost of materials and thereby the end charges of the service which may become

sometimes very difficult to communicate and justify to the client.

Latest techniques and machines are not much available for good finishing and high

quality work. Thus, even if we have contracts with architects it may not solve our

problem as they are also facing similar situation. In interior designing many different

softwares are required, all of which may not be available.

The Interior design business is quite dynamic as there is constant need of adapting to the

changes in taste and fashion. Thus, we have to be very much open to the environment to

adapt to the changes in fashion and trends. In addition, we should also be able to become

trend setters.

One of the major difficulties that we might face is that, we- the management team do not

have a specialized designer or architect in our team who has actually taken a degree in

this field such as an architect or interior designer or graphic designer. Thus, it may

become slightly difficult for us to choose the right designers who will give us the correct

information about the market prices and cost of materials and charge us the remuneration

that is worth his/her work. Thus, we will consult quite a few designers and then make a

decision of whom to hire.

NEW TECHNOLOGIES:

The practice of interior design has become complex, technical and demanding, so a need arises

in technical design skills and sales skills to compete. Interior design software packages will be

essential for better design solutions. Today's information technology environment has a profound

effect upon the interior design profession. Consulting in areas outside our traditional training, we

must now assist our clients with decisions on home wiring and cable needs, computer hardware

placement and space requirements for accompanying equipment, home theater electronics and

more. While we will offer advice, our Information Tech staff will have final say on the

placements because we are trained to envision the design of the total space, we must understand

how each individual issue affects another and the key importance of advanced planning.

Computer–aided design (CAD) or AutoCAD softwares increasingly is used in all areas of design

for the virtual design of interior. This helps clients to have an idea of what the design will be

without incurring the cost of physical and actual construction. The client can easily recommend

changes and make the process cost effective. Interior designers use computers to create

numerous versions of interior space designs—making it possible for a client to see and choose

among several designs; images can be inserted, edited, and replaced easily and without added

cost. Modified softwares of CAD are already available in other places of the world such as

VRKitchen, 3D, Punch! Interior Design Suite etc. for designing particular areas. When the need

arises we may have to purchase better and more advanced softwares for more efficient and faster

service to gain client confidence.

Contingency Planning

Slow sales resulting in less-than-projected cash flow.

Unexpected and excessive cost increases compared to the forecasted sales.

Overly aggressive and debilitating actions by competitors.

A parallel entry by a new competitor.

Worst case risks might include:

Determining the business cannot support itself on an ongoing basis.

Losing the assets of the investors used for collateral.

Dealing with the financial, business, and personal devastation of the firm’s failure.

Contingency Plans for future

Our best sales in the future will come from our current customer base. In order to build this

customer base, we need to provide exceptional customer service when they visit the store, have

regular follow-up correspondence to thank them for their business (as well as to notify them of

special promotions, etc.), and to provide personal shopper support so that each visit to the design

office to meets their needs.

In order to keep track of these activities, we will need to create a spreadsheet showing follow-up

correspondence with customers and what, if any, feedback we have received from them. At least

quarterly, we will plan to meet and discuss if we are, in fact, retaining our current customers and

whether that base has grown, or what changes may need to be made.

Financial Plan

FINANCIAL PLAN

Start-Up Expense

Requirements Tk

START UP EXPENSES

Legal 10,000

Stationery etc. 30,000

Supplies of the Design Team 150,000

Website development 75,000

Company's Initial Promotion 300,000

Interior costing 750,000

Miscellaneous 50,000

Computer and the softwares 180,000

Salaries & Wages 162,500

Total Requirements 1,707,500

FUNDINGS

Investment 25,000,000

Equity Capital* 25,000,000

Debt from Bank 0

Total Investment 25,000,000

*Each of the five partners contributed equally, 500,000 Tk and the sixth partner will provide us with the floor space that he has inherited, thus he will not pay any money.

LIFESTYLE

Pro Forma Income Statement - 3 Year Summary

For the Year ended 31 December, 2008, 2009, 2010

PARTICULARS Year 1 Year 2 Year 3

Service 4,000,000 5,600,000 8,000,000

Operating Expenses 3,730,000 3,070,000 3,160,000

Selling, General & Administrative Expense 1,000,000 600,000 600,000

Advertising & Promotion 400,000 200,000 200,000

Salaries & Wages 1,974,000 1,994,000 2,014,000

Use of contractual employees 50,000

Supplies 170,000 80,000 90,000

Utilities 96,000 101,000 106,000

Miscellaneous 90,000 95,000 100,000

Operating Profit 270,000 2,530,000 4,840,000

Depreciation-Equipment 40,083 40,083 40,083

Net Profit Before Tax 229,917 2,489,917 4,799,917

LESS: TAX (5%) 11,496 124,496 239,996

Net Profit After Tax 218,421 2,365,421 4,559,921

ASSUMPTIONS

Depreciation Method- Straight Line Method

FORECASTED CASH FLOW STATEMENT

2008 2009 2010

Cash flow from Operating Activities

(Adjustment to reconcile net income to net cash

provided by Operating activities)

Net Income 218,421 2,365,421 4,559,921

Add: Depreciation-Equipment 40,083 40,083 40,083

Less: Accounts Receivable 0 0 3,200,000

Net Cash Provided by Operating Activities 258,504 2,405,504 1,400,004

Cash Flows from other activities

Less: Capital Expenditure 180,000 0 0

Net cash Provided by Other Activities 180,000 0 0

Net increase in cash 78,504 2,405,504 1,400,004

Add: Cash at the Beginning of the year 24,531,413 22,294,413 20,089,913

Cash at The End of the Year 24,609,917 24,699,917 21,489,917

LIFESTYLE

Pro Forma Balance Sheet

For the Year ended 31 December, Years 1,2 & 3

Year 1 Year 2 Year 3

ASSETS

Current Assets

Cash Available24,609,917

24,699,917

21,489,917

Accounts Receivable 0 03,200,00

0

Supplies 170,000 80,000 90,000

Total Current Assets 24,779,917 24,779,917 24,779,917

Non-Current Assets

Equipment 180,000 180,000 180,000

Accumulated Depreciation-Equipment 40,083 40,083 40,083

Total Fixed Assets 220,083 220,083 220,083

TOTAL ASSETS 25,000,0

0025,000,0

0025,000,0

00

OWNERS’ EQUITY AND LIABILITIES

Owners’ Equity 25,000,0

0025,000,0

0025,000,0

00

Current Liabilities and Provisions 0 0 0

TOTAL LIABILITIES AND OWNERS’ EQUITY 25,000,0

0025,000,0

0025,000,0

00

CONCLUSION:

After presenting all our relevant data and justifications, we feel that we have constructed a

feasible business plan, which, if implemented, will generate the performance forecasted by us. It

is not beyond our means to imagine that if the financing were possible, we could begin at once

on our entrepreneurial journey, and with God’s, and our faculty’s, blessing be successful in our

enterprise.

APPENDIX

Business Plan

Documents

Transcript of Business Plan