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BUISNESS PLAN

Alina Aberle & Christina Tan


Therapeutic Riding Centre of Singapore
100 Turf Club Road
Singapore, 287992
6872 6012
trcsingapore@gmail.sg
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Table of Contents
Table of Contents ................................................................................................................................................ 2
Executive Summary ........................................................................................................................................... 3
Products and Services ........................................................................................................................................ 4
Marketing Analysis ............................................................................................................................................ 6
Strategy and Implementation ........................................................................................................................... 8
Company and Management ............................................................................................................................10
Financial Plan ....................................................................................................................................................12
Appendices .........................................................................................................................................................14
Works Cited .......................................................................................................................................................15

Executive Summary
Since 2012, over 31,500 new business have opened up in Singapore. However only one sole
business has offered any type of product aimed at the disabled. There is a growing demand for
services that Singapores disabled community can enjoy, in particular in the recreation and sport
department. Our company, the Therapeutic Riding Centre of Singapore, hopes to fill this void by
offering equestrian activities to the general public, disabled and non-disabled alike.
TRC offers a wide range of services including circuit riding, trail rides, riding lessons,
certifications, competitions, horse boarding, horse leasing and for people with disabilities:
specialized transportation to and from the riding centre. Horses have the potential to be a valuable
tool for both physical and psychological therapy. It is a unique therapeutic activity that is fun,
exhilarating and interesting. Other than the physical benefits from horse-riding therapy, the contact
with the animals is a powerful experience and often has an uplifting effect on people who are
troubled or suffering.
Because we offer our services to both the disabled and non-disabled, our target market is anyone
fit enough to participate in horse-riding activities. This vast audience in addition to the growing
demand for our services will make TRC a successful business in the future. Since opening in
November 2015, we have already made a profit of $10,000 in these few months. However, as we
hope to expand on an international scale in the near future, we are in need of a loan to increase
advertising and improve our facilities. TRC is in need of a $120,000 investment which we will use
to our maximum advantage. In exchange for this investment, we would be willing to offer 7% of
the company.

Products and Services


Singapore has over 97,200 disabled citizens (Yong), many of which are finding it increasingly
difficult to keep up with the ever-evolving city. While the government puts millions of dollars into
housing developments, companies, recreational facilities etc. very little is being done to fulfil the
needs of its disabled population. Recreation is one aspect that many disabled are not able to enjoy.
Government officials often argue that services and programmes suited for disabled people are often
too expensive or not successful enough. This is why we have established a company that is suited
to both the general public as well as the disabled, which improves both the mental and physical
health of our clients through recreational activities.
The Therapeutic Riding Centre of Singapore, also called TRC, is privately run company dedicated
to offering equestrian activities to the public, in particular the disabled. We realize the benefits that
horse riding has, whether it be for therapeutic or recreational purposes, and aim to promote this
sport throughout the local community. TRC aims to develop psychological and cognitive skills,
including improved life skills, independence, confidence, communication, motivation and trust for
people with disabilities. The rehabilitative scope of our programmes includes improved core
muscle tone, respiration, balance, postural control, spatial awareness and increased mobility of
muscles and limbs.
Currently, we are one of only two local companies dedicated to offering equestrian activities for
people with disabilities. Because we compete in an oligopolistic market with little competition,
our company has been very successful and has already attracted a couple hundred of people, the
majority of which have disabilities. Although we have only been running since late 2015 there is
already a huge interest which will ensure our success in the future.
What differs us from our competitor, the Riding for Disabled or RDA, is that we offer a range of
equestrian activities to people both with or without disabilities. This widens our target audience to
any person that is interested in equestrian sport, compared to the disabled 1.8% of Singapores
population. Additionally, TRC works in partnership with the National Paralympic Council to
promote our disabled riders for the Asean Para Games and Paralympic Games. We are the only
equestrian centre in Singapore that promotes disabled riders for these international events.
Furthermore, we offer various other services such as:
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Circuit riding

Trial rides

Transportation to and from Riding Centre

Riding lessons

Riding badge certifications

Competitions

Horse boarding

Horse leasing

Compared to other equestrian facilities such as Bukit Timah Saddle Club, Polo Club and
National Equestrian Centre, our services are more affordable. However, Riding for the Disabled
Association offers services free of charge, considering that clients pay a donation fee. While this
lack of price may draw more disabled clients to their company, we compensate by attracting
additional non-disabled clients. Below is a table representing the fees of our products and services.
Product and Service

Price ($SGD)

Circuit Riding

$20

Trail Ride

$45

Riding Lesson

$45

Horse Boarding (monthly)

$1,000

Horse Leasing (monthly)

$600

Riding Badge Certification

$40

Transportation to and from Riding Centre

$25

TRC is currently run by two owners, Alina Aberle and Christina Tan, and employs a total of fifteen
people. It is a national company that may well expand and create smaller international firms. These
firms would either promote riding for the disabled or also offer therapeutic horse activities. The
owners, in addition to a few part-time employees handle the office work and are in charge of the
financial and marketing sectors. All full-time employees are in charge of conducting the riding
activities as well as handling and caring for the horses.

Marketing Analysis
TRC is suited to a wide market which gives us a large audience to whom we can advertise our
services. Our target market is anyone who is physically and mentally fit to participate in
recreational equestrian activities. While our services are available to the general public, we are
suited specifically for the disabled population who are the main target market. As of 2014, there
are over 90, 000 disabled people in Singapore. However, as we also offer services to non-disabled
people, the market increases to around 420,000 individuals. These statistics demonstrate that my
target market is considerably larger than those of my competitors, and as a result TRC will be able
to attract more clients and produce a larger income. The following table shows a demographic
profile of my targeted customer. Some figures are based off of online surveys conducted by the
marketing department (see Appendix I).
Age
Gender
Location
Income Level
Social Class

10-35 years
Either male or female
Overwhelmingly urban areas, some situated outside of city-centre
SGD $2,100- $3,700
Middle to high class if disabled, low to middle class if non-disabled

When viewing our company as an equestrian centre suited solely toward the disabled, we hold a
staggering 50% of the market share. This is because there is only one other competitor which is
the Riding for the Disabled Association. Yet we also offer our services to the non-disabled. If
our company if viewed as a normal riding school, there are numerous other competitors and we
only hold 17% of the market share. The unique combination of services and target audience will
make TRC an influential competitor in the field of equestrian sport in Singapore. The table below
lists the strengths, weaknesses, opportunities and threats that TRC will face as a company.
Strengths

Weaknesses

Opportunities

Large target market


Oligopolistic competition with few competitors
Numerous and wide range of products and services
Consumer acceptance and brand recognition
Founders have minimal human resourcing experience
High capital costs
Growing interest in hobbies and keeping fit
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Threats

Increasing number of customers as company is advertised and


developed
Difficulty convincing cost-conscious customers
Growing need for employees as company develops
Indirect competition from companies offering sport/recreational
activities for the disabled

Through various surveys, it is evident that riding for the disabled as a form of therapy is in high
demand. However, the demand for this service has not been met as only 5% of the surveyed had
previously participated in therapeutic horse riding (see Appendix I). Our company would increase
the number of facilities offering riding for the disabled and fulfil the demand for this service. All
customers that come to TRC require different needs in order for them to thoroughly enjoy and
participate in the horse riding activities. This is evident, as there is a large range of disabilities (see
Appendix II) that we have to deal with differently. Our unique and wide range of services as well
as a well-educated and dedicated staff, make it possible for us to cater to each individuals needs.
Another important factor that will contribute to the success of the company are the marketing
and advertisement strategies. We have advertised through websites, brochures, and newspapers
and have attended sports exhibits and trade shows. Advertisement is essential, as there are
numerous other competitors and being well known will increase potential customer numbers.
The main competitors that the Therapeutic Riding Centre of Singapore competes with are:
Riding for Disabled Association of Singapore
5 Jln Mashhor, Singapore 299174
Singapore Polo Club
80 Mount Pleasant Rd, Singapore 298334
National Equestrian Centre
100 Jalan Mashhor, Singapore 299177
Bukit Timah Saddle Club
51 Fairways Dr, Singapore 286965
Gallop Stables
100 Turf Club Road, Singapore 287992
Singapore Turf Club
1 Turf Club Ave, Singapore 738078
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Strategy and Implementation


As we are still a relatively small and developing company, focus is key. To successfully market,
and sell our services, we will need to establish a management plan. The plan will help us to
strategize methods for success, putting emphasis on the managers jobs that will lead TRC to
success. Below is a flow diagram showing the milestones that the owners or managing directors
must accomplish, in order to give the company a solid starting point.

While company management is inertial in maintain a functioning and successful business, other
factors, in particular advertising, play an important role. In order to promote the company, TRC
will use online platforms as well as physical products as sources of advertisement. Advertising is
extremely important, as we need to establish knowledge of our services in our target market. It
also helps us to showcase our strengths and weaknesses to any competitors. We have already
advertised though various methods in order to get our company where it is today. However,
increasing adverts and varying advertisement methods would enable us to reach more potential
customers.
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Our employees will be distributing leaflets and hanging up posters in public areas, community
centers for the disabled and in other equestrian clubs. In return, we would advertise their company
in our riding centre. This would be the most cost efficient advertising method, and through
aesthetic images it could be highly successful. Our company would also pay to advertise on
websites by displaying the logo, company name and key products. Only local websites would be
advertised on, as our target audience is currently limited to Singapores population. Some
examples would include advertising on online sport shops or recreational program websites. While
this method has more expenses, it reaches a wider audience as hundreds of people visit these
websites daily. TRC will also be hosting numerous events in parks or other public areas to advertise
the company. We will bring a number of horses to the site and offer circuit riding. This would
draw more attention than just a simple poster and we could also make a profit from the services
offered on that day. These events would be aimed at families with children, who would be
interested in horse riding activities. The presence of the animals would be engaging and
entertaining for the children, and the interactions could help convince parents to let their children
take up horse riding as a sport.

[Horsing Around in Singapore, 2014]

Since its launch in November 2015, TRC has maintained a website which we hope will spread the
word of our company and services. The website has contact information, pricing, a list of services
and employees and a monthly calendar through which customers can book and reserve any activity
slots. We plan to attend at least two national sports exhibitions annually, such as Sports & Fitness
Asia and the Sports & Lifestyle Expo. These exhibitions would allow us to showcase our
services to our target market who will most certainly be present at the expo. They will also allow
us to analyze our competitors and keep up with any new trends or products.
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Company and Management


TRC has started out as a small private business, but we are now ready to expand our company to
offer more services and increase the customer base. The initial market was aimed at solely the
local, Singaporean citizens. However, we are considering to expand into other Asian countries
such as Hong-Kong, Taiwan and Japan within the next few years. Like Singapore, most of these
countries lack recreational services for their disabled population. As demonstrated by the TRC in
Singapore, fulfilling this demand is a very profitable business that will likely grow in the future.
At the Therapeutic Riding Centre of Singapore, we currently employ fifteen individuals who, in
addition to the owners, keep the company running smoothly. Employees are assigned a specific
job, then trained accordingly until they can safely and accurately carry out their work. We employ
people from various social and cultural backgrounds, ensuring that there are no language or
communication barriers between ourselves and the customers. We are a company that takes our
customers needs into the highest of considerations, making sure our products and services are
enjoyable and appropriate towards every one of our customers. Interactions between people and
the horses are extremely important, as this helps improve social relationships for people with
psychological disabilities. The following chart shows the job distribution amongst employees.

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Currently there are two owners, Alina Aberle & Christine Tan, five full-time employees, six parttime employees and two independent contractors who work at TRC. The part-time employees help
the owners with the accounting, financing and marketing. Two part-time employees are also
certified riding instructors, teaching various riding lessons and trail rides. Additionally, we have
two full-time riding instructors who also manage the riding schedule, horse rotations, leases,
boarding etc. Finally TRC has another three full-time employees who work as stable hands,
grooms or drivers. Volunteers are also welcome at the riding centre to help out with riding lessons
or caring for the horses. We work in partnership with numerous local and international schools,
offering community and service work for the students. We also offer internships or workexperience programmes for students interested in the equestrian or therapeutic industry. Below are
the payrolls expected over the next three years.

Part-time Employees

Year 1
$37,440

Year 2
$40,200

Year 3
$42,180

Full-time Employees

$124,800

$140,00

$143,110

Independent Contractors
Total

$20,800
$183,40

$19,100
$199,300

$19,100
$204,390

By 2018, the company hopes to accomplish multiple achievements such as the introduction of new
facilities, more employees and the establishment of international firms. These achievements would
help the company grow, become recognized on a more global scale and help boost profit rates.
The figure below lists all major milestones that TRC aims to achieve within the next three years.
Milestone
Build new riding arena

Budget
$90,000

Department
Management

Duration
10 weeks

Increase number of
stables for boarding
and school horses
Increase number of
employees

$50,500

Management

8 weeks

$67,000

Accounting

12 weeks

Marketing

24 weeks

Department,
Marketing
Accounting,
Management

2 weeks

Advertise on an
$38,000
international scale
Host international
$1000
Paralympic competition
Set up firms in other
$700,500
countries

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48 weeks

Financial Plan
Through the use of various charts, graphs and templates, we have been able to predict the profit,
sales and payrolls within the next three years. It is predicted, that the Therapeutic Riding Centre
of Singapore will need $118,200 to operate in the first year, $134,900 in the second year and
$149,200 in the third year. The operational expenses will increase as the years go on, since we
will expand and further develop the company through improved facilities, advertising and new
services.

Below are the figures representing the total unit sales and profit from the first year of production.
Through the sales of our services we would make $179,450 within the first year. It is evident that
our businesses is profitable and that even after the cost of goods sold has been accounted for, we
would still make an annual profit. While TRC does not need funding desperately, it would help
aid in the success and development of the company.

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The graph below displays the net income of the Therapeutic Riding centre of Singapore over
the next three years. In the first year we will make an income of $150,181, in the second year
$181,622 and in the third year $240,141. As the company progresses and develops, the net
income is expected to increase, stating that TRC will be a successful business.

Income by Year
$250,000.00

Net Income

$200,000.00
$150,000.00
$100,000.00
$50,000.00
$Year 1

Year 2

Year3

In order to acquire the necessary funding that TRC needs, we would look for an investment of
about $120,000. This would cover all the costs we currently need to pay, so we wouldnt need to
rely on multiple investments or loans. In exchange for this money, TRC would be willing to hand
over a 7% share of the company. If there are no investors interested in our proposal, we would turn
our attention to various kick-starter projects. These projects would allow us to see how interested
potential business partners and customers would be in our services. It would almost act as the first
milestone that the company must overcome, as people must be interested if they are willing to
invest money. As TRC would prefer to give away a share of the company in exchange for the
money, we would use the money in the near future while not having to worry about interest rates
during the companys early stages. However, if a loan is preferred we would still ask for $120,000
with an interest rate of 2%.

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Appendices
Appendix I. Target Market Survey

Appendix II. Chart about Disability Causes (Liew)

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Works Cited
"Horsing Around in Singapore." Singapore Lifestyle. Connexion SG, 17 Jan. 2014. Web. 4 Mar.
2016.
Liew, Stanley C. Physicians Academy for Cardiovascular Education. PACE-CME, 20 Jan. 2010.
Web. 2 Mar. 2016.
Yong, Charissa. "No Clear Data on Disability Situation in SIngapore." Your Health. Asia One,
13 Mar. 2014. Web. 1 Mar. 2016.

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