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PROFESSIONALS AT WORK
SUPERVISED BY:
UNDERTAKEN BY:
SESSION:
PROGRAMME:
EXECUTIVE SUMMARY
Business description
Skimming through the news papers reveals the condition of the kind of labor services
are in the current markets and we all in our houses and offices know the situation of
nature of labor market and we all face a lot many problems concerning this area. So
here we provide the solutions to all those problems. Our core area of business is to
provide a link between the demand and supply of the labor (as being provided by our
firm).
Although this kind of work is being done and successfully accomplishing its fruitful
results in foreign nations but in Pakistan no successful private work of this kind has
started yet. So we decided to boost the morale of students by introducing a new labor
providing firm.
This firm represents the efforts of those students who want to bring about a change in
the society by thinking different. We would have to work by few resources but we are
sure that one day this firm will serve to the direst need of the country. Marketing
department, that control and coordinate activities, present the real picture to the
interested clients. Hence a proper system is there to perform every task efficiently by
complete coordination among them.
It is basically the vision and creativity of the students and young professionals which
can drive them towards success and prosperity through the tool of Entrepreneurship.
Company structure
Professional Labor Service as its name suggests is a service firm and deals in the
matters for providing labor services to households and businesses. Its structure is
simple and starts with an idea by some students and then perpetuated with confidence
in their abilities. Led by couple of students its an entrepreneurial firm being operated by
a partnership deed among them.
Partnership initiated by collecting initial investment from every member in equal ratio
and then spending it by the logistic head in the manner they all agreed to. The costs are
to be endured by members and that the profit would also be distributed in similar
proportion. Hiring of experts and costs for arranging interview sessions, with the
entertaining of clients are subjected to the same action.
Intellectual property
Idea to cater to the demands of the household and businesses in the outlined labor
fields is the trademark of this firm.
Whatever we do has imprinted our effort on it and we have a copy right of it as a diverse
and innovative profit firm entailing the rights of students and disclosing their untapped
opportunities in the market. Information being passed down and shared by our experts
is purely formulated and devised one, on which extensive work has already been
conducted.
Additionally trade secrets like the knowledge being devised for carving a niche in the
market for students and young professionals, are serving as the most important
knowledge bearing IP.
Introduction:
Business Situation
Our business is to provide services to homes and offices with household labor which
will perform cleaning, cooking, washing, driving etc. on regular and temporary
basis. As in our area, i.e. Southern Punjab there is no such firm which provides such
services. Multan is developing day by day and making its way to be one of the
busiest cities of Pakistan as Lahore, Karachi etc. Due to the recent development
projects it has become an eye candy for the businesses and new investments as
well. People are becoming busier with their jobs and the trend of dual income family
is also increasing. Thus in order to cope up with the present needs of labor for
household and office works, we are going to provide, we are making this firm and
we believe it has a great scope ahead.
Objective
Company Hierarchy
EXECUTIVE
BODY
SERVICE
CONTROL
/FIELD OFFICER
EMPLOYEE
S
Experts
Of
PROFESSIONAL LABOR SERVICE (PLS)
Psychologist Team
Union partners SMEDA
3-E BUSINESS SOLUTIONS (LAHORE)
The Marketing Plan
Market Analysis:
In order to find out how much our business will be successful, there was a need of
doing a complete analysis of our target market. So, in order to analyse the target
market, we conducted a marketing research. The market research that was
performed to support both the business plan as well as this marketing plan was
based on,
Comprehensive Questionnaire
Interviews
Informal meetings
Marketing Objectives:
The main objectives of PLS marketing strategy are,
Market Strategy:
PLS market strategy is the main part of its marketing plan. Our marketing strategy
involves careful scanning of the internal and external environments. Internal
environmental factors include the marketing mix, plus performance analysis and
strategic constraints. External environmental factors include customer analysis,
competitor analysis, target market analysis, as well as evaluation of any elements
of the technological, economic, cultural or political/legal environment likely to
impact success.
Segmentation
Targeting
Positioning
Differentiation
Target Market:
A target market is a group of customers that the business has decided to aim its
marketing efforts and ultimately its merchandise. A well-defined target market is
the first element to a marketing strategy. The target market and the marketing mix
variables of product, place(distribution), promotion and price are the four elements
of a marketing mix strategy that determine the success of a product in the
marketplace.
Our target market includes the houses from the middle class to the upper class plus
offices of certain multinationals, nationals, local firms as well as the SMEs. But our
main target market are those houses in which both male and females are doing jobs
and they strongly in need of some trustable servants to perform household works in
their absence.
Market Segmentation:
Segmenting the markets on the basis of various factors (geography, income,
gender, age etc) into group of customers who share a similar set of needs and
wants is called market segmentation
Geographical factor
Income factor
Geographical segmentation:
Marketing Mix:
Marketing mix means 4Ps which are Product, Price, Place and Promotion. The
marketing mix of our business is given below as,
Product:
We will provide certain services such as:
Cleaning,
Washing,
Cooking,
Driving,
Gardening,
Peons.
Price:
We will take 5% of commission from the households every month and 10% from the
firms.
Washing 1000-3000 -
Peons - 5000-10000
Promotion:
Personal contacts,
Banners,
Flyers,
Posters.
Website
Commercials on cable
Outdoor media:
Place:
We will established main office in gulgasht colony near golbagh and two sub-offices
in new multan and nishter area after our business is established.
SWOT Analysis:
SWOT analysis is astrategic planning method used to evaluate the Strengths,
Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a
business venture.
Strengths:
No capital investment.
Weaknesses:
Opportunities:
No competitive firm.
Threats:
Lack of awareness.
HR plan:
The HR department of our organization will perform following functions:
Hiring of employees,
Pay plans,
Investigating about the previous records of employees,
Solving certain conflicts between the employees and the customers.
Insurance plans
The hiring of employees will be done through personal contacts. We, the
partners, belong to certain regions as D.G Khan, Khanewal, Ali pur etc. They
have people in contact that belong to certain villages etc. First through the
collaboration of these people we will make a pool of candidates that want to
work with us. Moreover we will investigate if they have any criminal record
through their local police stations. The candidates with proper eligibility that
is proper grip over cooking, driving, gardening etc. plus the appropriate
people for housekeeping will be registered to our organization. As per
demand we will increase our employees from the same areas described
above. Moreover children will not be hired.
The conflicts between the employees and the customers will also be solved
by the HR department. Certain problems as mental and physical torture of
employees by the customers will be tackled by the same department. The
clause against torturing our employees will be added while making
agreement with them. Moreover Health insurance of employees will also be
done by registering them to the Punjab employees Social Security Institute
as well once we have start making profit to a certain level.
Financial Plan
Budgeting report
Break-even report
Performa Income Statement and Balance Sheet for first quarter
Budgeting Report
Start Up Cost
Vehicle
Two Motor bikes required for the inspection purpose worth Rs. 50000 each, so total amount is
100000
Office Furniture
Furniture is require like tables chairs etc to establish well professional office .Its cost is Rs.
40000
Fixtures
For the office it is require tube lights, fans, bulbs etc .Overall estimation is Rs. 10000
Office Supplies
Stationery items like pens, files, pages etc are required; its estimation is Rs. 10000
Advertisements
A big budget is required for advertisement. It is estimated Rs 40000
Our three partners use their personal laptops for business use. Their share is adjusted. Other
computer related equipment like printer its value is estimated 10000 rs.Morever for the business
photo copier is required. Its value is estimated RS 30000.
Financing
1 Debt Financing
2 Equity Financing
Debt Financing
We used SME personal loans from Bank Alfalah amounted 200000.Interst cost is 18% for the
three years of tenure.
Equity Financing
Break-even Analysis
Total Fixed Cost
Items Cost
Salaries 75000
Depreciation 17700
Office Supplies 10000
Rent 10000
Telephone and Internet 20000
Mobile Charges 20000
Vehicle expenses 20000
Other Expenses 9000
Variable cost
Calculation
S.P - V.C/unit
Expenses
Wages 1207500
Salaries 75000
Electricity 40000
Rent 10000
Advertisements 30000
Depreciation 17700
EBIT 150800
EBT 120369
Tax(40 %) (48147.7)
Assets
Current Assets
Cash 379700
Fixed Assets
Depreciation (9500)
172500
Vehicle 100000
Depreciation (6000)
94000
Depreciation (1200)
48800
Photocopier 30000
Depreciation (900)
29100
Liabilities
Current Liabilities
Non-Current Liabilities
Capital
Partners Capital 360000
A good entrepreneur enters market with both alternatives as his options available on the
table. So while taking on the market we the members of the executive body think the
other way round. But as we are the first of any private body to be executing this
business to work on this project, so PLS is depicting much better results than
expected. Still PLS has carved an exit strategy as a part of the natural entrepreneurial
action.
1 Liquidation; this is the first and foremost easier strategy that any business can be
subjected to. By this any entrepreneur can pack his things up and leave the
business without any complex proceedings. Moreover the remainder through the
sale of assets is divided between shareholders.
2 Acquisition; Acquisition is one of the most common exit strategies: You find
another business that wants to buy yours and sell, sell, sell. This process helps
the acquirer to attain the income he spends at the establishment of the firm,
because here public markets the value of our assets according to the market. But
as no similar private body working on the project so the acquisition would
preferably be done by comparison with the only competitor government of
Pakistan.
3 Merge; this is the last option available for the positive approach towards the
society. PLS considers 3E business solution as the viable option to get merge
with.
Conclusion