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Executive SummaryBUCKS Company, located on Tutorial 2B, 2nd floor SBM-ITB building, is established on
August 2009 as a retail company. BUCKS Company is a short-term company that focusesin
the business venture of technological-creative interior industry. The added-value products
of
BUCKS Company are alphabetical clock, classic bed sheet, and unique doormats.
Alphabetical clock is a high performing techonology time-indicator device, with premium
quality and minimalist design and fashionable style, suits to decorate bedroom, living
room,
hotels, apartments, and even hotels. Another is Classic Bed sheet set including eight parts
of
bed sheets for aesthetics bedrooms, with best-quality King Koil and elegant color choices,
with significantly lower price. Doormats, have two types; slipper doormat, a comfort towel
mat placed inside houses with a pair of slippers, and unique-doormat, a doormat with
various and choice able exciting designs that attracts people inside or outside rooms.
As a visionary and inspiring company, BUCKS Company determined the companys
vision to become the Most Valuable Company (MVC) in Integrative Business Experience, by
achieving best profit and biggest human-social benefits. It will be achieved by
implementing
companys mission of understanding & answering market challenges, needs & wants and
satisfying all stakeholders starting from members, SBM-ITB, suppliers, creditors and
consumers by applying best business-management skills and integrity, and corporate
social
responsibility as an implementation of business ethics.
BUCKS Company and the mass market are living in a very digitalized world. People
has neverending expectations to the latest sophisticated technology,especially the
technology that applies directly to lifes comfort moments. On the other hand, peoples
basic needs and wants of creative and aesthetic items are unavoidable. With human
mostly
spend their time inside their own room, beautiful and functional interior products are
perceived to be very important. Answering this environments demand, BUCKS Company
targets specific segments which are, teenagers with unique & aesthetic lifestyle, young
executives with high sensitivity to technological items, women & housewives with
demands
to high-quality and fashionable products, from B to A social economic class. The primary
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marketing objective is to achieve X%, X%, and X% of market share in Jakarta & Bandung
for
Alphabetical Clock, Classic Bed Sheet, and both Doormats at IBE II.
BUCKS Company is led by Prawedhi Sosrodimulyo as Chief Executive Officer and two
corporate secretaries to assist and manage informations. Then, followed by Muhammad
Ajie
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Santika as Chief Marketing Officer, Muhammad Ichsan Febrian as Chief Operation Officer,
and Alida Nur Sakinah as Chief Finance Officer. BUCKS Company has a total of 34
members
with various characters and potentials to be implemented in business.
BUCKS Company expects to earn 402,400,000 IDR of total revenue from sales of 44
alphabetical clocks, 222 doormats, and 98 classic bed sheet sets, by borrowing 29,697,500
IDR from CIMB Niaga Bank as four-month l oan. BUCKS Company foresee sales of
100,000,000 IDR for first month, another 100,000,000 IDR for second, 82,000,000 IDR for
third one, and 120,400,000 IDR for last month. With 54.07% Net Profit Margin, BUCKS
Company projects profit of51,207,785 IDR from first month, 55,087,785 IDR from
second, 45,047,785 IDR from third, and 66,217,785 IDR from last month, or total of217,561,140 IDR net profit. It resolves the break even point by 86,096,388 IDR within
16
days. BUCKS Company does not anticipate any financial problem.
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Table of ContentsExecutiveSummary.....................................................................................................................
.......... 1Table of
Contents......................................................................................................................
.............. 3
CHAPTER
I ..................................................................................................................................
............... 5
Company
Description ................................................................................................................. 6
I.1 Company
Profile ........................................................................................................ 6
I.2 Company
Background............................................................................................ 6
I.3 Companys Vision, Mission,
Goals................................................................... 7
I.4 Corporate
Management ........................................................................................ 8
I.5 Consultant ............................................................................................
................. 10
CHAPTER
II..................................................................................................................................
........... 11
Product
Description ...........................................................................................................
...... 12
II.1 Alphabetical
Clock............................................................................................... 12
II.2 Classic Bed Sheet
Set........................................................................................... 13
II.3
Doormats......................................................................................................
............. 15
CHAPTER
III ................................................................................................................................
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........... 17
Marketing
Description ...........................................................................................................
. 18
III.1 Market
Analysis................................................................................................... 18
CHAPTER
IV ........................................................................................................................................... 27
Marketing Strategies and
Sales ........................................................................................... 28
IV.1 SWOT
Analysis......................................................................................................
28
IV.2 Pricing
Strategy ...................................................................................................30
IV.3 Distribution
Channel ........................................................................................ 30
IV.4 Promotion & Advertisement
Strategy ................................................... 30
IV.5 Sales
Strategy .......................................................................................................
. 32
IV.6 Sales Program & Issues per
month ......................................................... 33
CHAPTER
V .................................................................................................................................
............ 34
Operations ...........................................................................................................
......................... 35
V.1 Facilities &
Equipment...................................................................................... 35
V.2
Production ...................................................................................................
............. 36
V.3
Inventory .....................................................................................................
.............. 40
CHAPTER
VI ................................................................................................................................
........... 42
Finance ................................................................................................................
........................... 43
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VI.1 Source and Use of
Fund................................................................................... 43
VI.2 Sales
Forecast .......................................................................................................
44
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VI.3 Projected IncomeStatement ....................................................................... 45
VI.4 Projected Balance
Sheet................................................................................. 45
VI.5 SensitivityAnalysis ........................................................................................... 46
VI.6
Ratios ...........................................................................................................
.............. 47
VI.7 Payback Period and Break Even
Analysis........................................... 47
REFERENCES ..............................................................................................................
........................... 49
APPENDIX ...................................................................................................................
............................ 50
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CHAPTER ICompany Description
This chapter describes the company profile, company background, companys
visions, missions, and goals; corporate management and for the last it lists the
companys consultant.
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Company Description
BUCKS Company is established on August 2009. It is a short-term companyrunning in creative interior industry. BUCKS Company sells unique and
aesthetical products, which are alphabetical clocks, bed sheet sets, and
doormats in 4 months period given by IBE 2. The companys sales period will
start effectively on February 2010 and aim to enter market in Bandung, Jakarta,
and nearby cities. Companys start-up capital will be covered by loan from CIMB
Niaga Bank.
I.1 Company Profile
Name
Head Office
Phone
E-mail
: BUCKS Company
B Best
U Unique
C Classy
K Kindred
S - Sublime
: Tutorial 2B, 2ndfloor SBM-ITB building
Jl. Ganesha 10, Bandung 40132
: +6281809101991 / +6285692577135
I.2 Company BackgroundBUCKS Company is formed to fulfill one of the mandatory requirement of one of the
subjects in SBM-ITB which is Integrative Business Experience (IBE), a subject where the
second year students of SBM-ITB must create a business and run it. Consist of 35
students, which grouped in one tutorial class of 2B, BUCKS Company was born. BUCKS
Company is one of the five companies in the 5th year of IBEs execution in SBM-ITBs
history. The idea of the companys products was based on group brainstorming, while
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the potential products were decided by the result of previous researches and
deliberation.
I.3 Companys Vision, Mission, Goals
I.3.1
I.3.2
Vision
To be the Most Valuable Company in SBM-ITB IBE with highest profitand
biggest benefit.
The Companys Mission
1. Becoming a high integrity and trusted business institution.
2. Building, developing, and maintaining business knowledge, skills, and ethics
of all businesspersons.
3. Managing teamwork, spirit, and motivation of all business players.
4. Unity, equality and openness within as basis of business interaction.
5. Building a dynamic and enjoyable working environment.
6. Managing valuable customer satisfaction and relationship, through
delivering the best experience.
7. Achieving the best marketable customer solution, this results in best profit.
8. Maintaining long-term valuable relationship with all stakeholders, including
suppliers, creditors, academicians, etc.
I.3.3 The Companys Value
1. We conduct our business in ethical manner.
2. We respect and support each other.
3. We are committed to excellence in everything we do.
I.3.4 The Companys Target & Goals
1. Achieving a minimum profit of 200 million rupiahs after IBE finished.
2. Fulfilling all milestones on time with best quality.
3. Maintains teamwork, motivation, and spirit every time until IBE finished.
4. Receives the most positive feedbacks from all customers and society.
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5. Clear and high-quality relationship with all inside and outside stakeholders.
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I.4 Corporate Management
Chart I.4 Organizational Structure
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I.4.1 Key Personnel and Board of Directors
a. Chief ExecutiveOfficer
: Responsible for actuating and evaluating
companys progress, performance, and
governance system.
b. Corporate Secretary
c. Chief MarketingOfficer
d. Chief OperationOfficer
e. Chief Finance Officer
: Responsible for managing each information and
database, from business plans to members
data and meeting notes.
: Responsible for customer relationship by
delivering best values and implementing
sales promotion strategies.
: Responsible for organizing and controlling whole
production processes, including inventory
and quality maintain.
: Responsible for managing cash flows, book-
keeping, and financial projection analysis.
1.4.2 Management System
BUCKS Company implements the simplest system of organizational
management design. It is a functional departmentalization (marketing-operation-
finance), decentralized (decision-making are based on deliberation within all group
members), and organic organization with low formalization. This system is chosen
because BUCKS Company is still in learning of business experience and it is the
most
suitable one to the company members composition.
In this organizational system, company has one rule in information flow
system. Chief Executive Officer directly manages and controls three-business
functions leader (COO, CMO, and CFO). All flows of information must be from those
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3 persons. Applied also to all other member and staffs, they must firstly coordinate
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with their chiefs. Since members are in academic business learning environment,
management expects to have full-member deliberation in all decision-making
process. Except for some sensitive problem, sometimes CEO must decide and solve
it himself.
I.5 Consultant
SBM ITB Lecturer
Ir. Leo Aldianto MBA, Dwi Larso Ph.D, Sonny Rustiadi, Bambang
Rudito, Reza Anshari, Arson Aliludin, Utomo Sarjono Putro, Togar M.
Simatupang
SBM ITB Tutor
Tita Januardi Subandi, R. Bayuningrat H, Bob Situmorang, Arief W.
Kautsar, Agustina Ciptarahayu
CIMB Niaga
Sandra Heliola
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CHAPTER IIProduct Description
This chapter describes the description of each product such as the size, material, shape,and
value.
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Product Description
II.1 Alphabetical Clock
Figure II.1a Alphabetical Clock Figure II.1b Alphabetical Clock
Nowadays, clock becomes not only as an instrument of time indicator, but also used
for interior decoration. Alphabetical Clock is a time indicator, which does not use
conventional clock needle to point the numbers (analog) nor use the usual digital
model.
It uses letters to state the time in the form of sentences, built by sophisticated
technology and the latest minimalist design. Alphabetical Clock is a highly useful
gadget
with a strong touch of fashion, suitable for decorating bedroom, living room, offices,
apartments, and hotels.
II.1.1 Size
This products dimension is equilateral to 450 mm, suitable for both wall and table
installation. The character height (the size alphabet as the time indicator) is 20 mm,
just
about the right size of standard visibility. BUCKS Company equips the wall mounted
hanger and desk stand as part of the product, which weighs 3.5 kg.
II.1.2 Shape
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Alphabetical clock shape is equilateral in shape, and layered by polished acrylic.
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II.1.3 Material
The material of the Alphabetical Clock is resin-impregnated wood which hardness is
improved by the resin substance that layers the wood fibers. It is also moisture
resistant
and durable. Generally, this product uses beautiful and elegant materials.
II.1.4 Value
The value that BUCKS Company offers to customers is to fulfill their needs and
wants in owning instrument indicating time with sophisticated technology. It also
can provide the consumer with sense of pride from owning such a gadget with latest
technological development. Furthermore, the design that is offered to customer is
very simple and yet unique, which does not use conventional clock needle to point
the numbers (analog) nor use the usual digital model. It uses letters to state the
time
in the form of sentences. There are several things that will support the value of
Alphabetical Clock:
1. Using letters to state the time in the form of a sentence, not like the other clock thatshow the time with numbers.
2. Combines art and functionality.
3. Can be used for interior decoration.
4. High quality clock with sophisticated technology.
5. There is magic sensation from the light that glows on its surface.
II.2 Classic Bed Sheet Set
Figure II.2 Classic Bed Sheet Set
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Classic Bed sheet set consists of eight items in one packaging: one bed sheet, one
bedcover, two pillow cases, two long pillow cases, and two little decoration pillows.
Alternative buying can also be one bed sheet and four pillowcases. This bed sheet set is
made from selected, high quality fabric that is King Koil (the best in its class with the
smoothest and most durable kind of cotton) available in various elegant color choices.
Compare to similar item offered by leading competitors, our product is much lower in
price and provide just as high in quality. This is suitable for beautifying and adding
value
to interior design in bedrooms.
II.2.1 Size
Classic Bed Sheet Set is available in two different sizes: king size and queen size.
Based on the fact that height of beds and thickness of mattress vary one from another,
the purchase is designed made-to-order in terms of those particular sizes.
II.2.2 Material
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The fabric is the premium King Koil type, which is widely known as the silky
smoothest and most durable fabric for bed sheets (colors are not easy to be faded). For
every ordering and purchasing, the combination of colors is chosen by costumers
according to their personal tastes.
II.2.3 Value
This Classic Bed Sheet Sets offer point of sales to customer as in giving them the
highest rate of comfortableness and sense of sophistication due to its classical and
majestic design. By giving the customer the chance to choose the hand made design
and
fabric colors, we therefore provide some added value that will differentiate us from
other existing players in the business. Those aforementioned key values are completed
by relatively lower price.
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II.3 Doormats
Figure II.3a Slippery Doormat
Figure II.3b Unique-DesignedDoormat
Figure II.3c Unique-Designed Doormat
There are two types of different doormats, slipper doormat and unique-designed
doormat. Slipper doormat has high functionality because it attaches a pair of slippers.
Slipper doormat using high quality towel based material so the customer feels comfort
when step on it. Slipper doormat has a simple design and suitable to place inside the
house. The pair of slippers is very comfortable for feet and it can be taken off from the
doormat so the doormat has two functions in one item.
Unique-designed doormat is available in various designs. BUCKS Company offers a
lot of attractive and unique designs that can be chosen by the customers taste. It can
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placed inside or outside the room. Unique-designed doormat is suitable for decorating
bedroom, living room, offices, apartments, and hotels.
II.3.1 Size
The size of slipper doormat is 60 x 40 cm with all size slippers that patch with the
doormat. The size of unique-designed is 70 x 50 cm with various cutting based on the
design.
II.3.2 ShapeAll the shape of doormat basically is rectangular. For unique-designed doormat the
shape is based on the design.
II.3.3 Material
Slippery doormats are towels which are comfortable to step on it; and unique-
designed are using acrylics which are durability and fancy looking.
II.3.4 Value
The slipper doormat has values such as high functionality (to keep the feet dry and
clean, comes with a pair of slippers that will make the feet remain clean) and trendy
and
out of the box design.
Unique-designed doormat, however gives the costumer the joy of owning one of a
kind design mat with affordable price.
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CHAPTER III
Marketing DescriptionThis chapter describes the market analysis based on the industry and environmentanalysis;
market segment, target market, market size and competitors.
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Marketing Description
III.1 Market AnalysisBucks Company is going to launch three products, which are Alphabetical Clock,
Classic Bed Sheet set, and Doormat.
The primary marketing objective is to achieve the sales target forecasted by BUCKS
Company in the first four months of 2010. To achieve that sales target, Bucks Company
has
set marketing strategies to accomplish the target markets sales with, from 58 potential
buyers of Alphabetical Clock, 130 potential buyers of classic bed sheet, and 297 potential
buyers of doormats.
To achieve companys goal, Bucks Company has made Marketing Analysis for each
product. The marketing analysis contain of current market industry and environment,
market segmentation, target market, positioning statement, market needs & demands,
market size & share, market trends, competitors, and marketing strategy.
III.1.2 Industry & Environment Analysis
III.1.2.1 Industry Growth and Trend
The presence of alphabetical clock will become the main power to face th
challenge in the market growth and trend. This particular product is
unexceptionally innovative and creative by its own design.
Creative industry sure is a challenging and interesting business, especially in
Indonesia. From 2002 until 2008, its small and medium business growth was
stable at 6.3 percent against the national gross domestic product (GDP), and
has a 7 percent of total export value on 2006. Those contributions are from
fashion, craft, pure design and art, music, film, advertisement, and
interactive performance art. On West Java, creative industry specifically
accounts for 7.82 percent of regional gross domestic product (RGDP) or
approximately 20 trillion IDR and at 2008 it had a 4 percent margin of
industrial growth.
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On the other hand, Digital industrys growth was responded positively by
many Indonesian government officers. They said that most business player
in this industry must be bright teenagers and young executives. The
government hoped these entrepreneurs could provide opportunities for job-
seeker and help decrease the poverty level in Indonesia even with the fact of
global financial crisis and the dropping of clock industry for about 6.25
percent. Shinta Dhanuwardoyo, CEO of PT Bubu Kreasi Perdana,
optimistically predict the growth of digital industry by 100 percent from mid-
April until end of 2010.
These factors, combined with humans basic expectations to creativity and
art, along with perceived value of technology, the mix of digital industry and
creative industry becomes one of the main opportunity for business. BUCKS
Company pursues and maximizes this opportunity to develop a profitable
business venture.
III.1.2.2 Competitive Environment
BUCKS Companys competitors are numerous and vary, starting from itssubstitute products, which are normal-standard clocks. Many competitive
domestic and foreign producers already enter it. Moreover, another
technology-based clock had recently exists in Indonesian market. BUCKS
overcome this challenge by confidently offering similar products quality but
with significantly lower price.
BUCKS Companys products have a very unique design appearance and
characteristics, with premium material and quality system, along with itselegant package. BUCKS Company has many alphabetical clocks stock
capacity, with delivery, guarantee, and after-sales service. It shows some
luxuriousness of time in peoples room interior design. With peoples
demands to high-technology product, this item will make BUCKS Company
business venture smoother and actionable.
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III.1.2.3 Barriers to Entry
BUCKS Companys Alphabet Clock is a premium high quality technology
product, with LED array and polished acrylic. Its unique and elegant working
system results in relatively high production cost. BUCKS barriers to entry are
Indonesians perspective of combining technology and fashionable yet
functional interior items. It is described, as peoples top of mind is that all
clocks are only meant to be functional, that clock with pin and numbers is
enough. People tend to choose standard clock and insensitive than its
possible fashion and technology added values.
III.1.2.4 Long-Term Chance
Indonesian existing and future market in technology and creative interior are
always transforming. With peoples increasing expectation into creative
interior and technology, BUCKS Company will face the opportunity to seize
market share in this challenging industry. Along with members power,
passion, and abilities, BUCKS Company believes the sustainable and
profitability in answering this market challenge.
III.1.3 Market Segment
III.1.3.1 Alphabetical Clock
Students of several universities in Jakarta, Bandung and nearest cities
like: Bandung Institute of Technology
,
PadjajaranUniversity,
Parahyangan University, and University of Indonesia which have
medium to high social economic class and eager to try new innovation.
Technology geeks who always willing to buy new innovation of
technology products.
Relations of companys member who are willing to buy new innovation
of unique clock.
People who prefer limited edition product than mass production
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product.
III.1.3.2 Bed Sheet Set
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Female, young married people who are interested in high-class
bedsheet with pleasant quality and classic design.
People who thinks quality is the number one priority but not prefer to
pay in high price.
Women, housewives who incorporated in a gathering (arisan and
pengajian) and like to buy new products with lower price than market
price (in the same quality).
III.1.3.3 Doormat
Students of several universities in Jakarta, Bandung, and nearest cities
like: Bandung Institute of Technology
,
PadjajaranUniversity,
Parahyangan University, and University of Indonesia who are interested
in buying and trying creative unique products.
People who collect unique stuffs, and eager to make their customizedoormat.
Relations of Bucks Company members who willing to buy unique
doormat.
People prefer limited edition product than mass production product.
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Relationship Amount
Family 21
Fiends 37
III.1.4 Target Market
III.1.4.1 Alphabetical Clock
For the actual target market, BUCKS Companys target market are people
living in Jakarta and Bandung, the people who concern about new-
technology applied on a breakthrough product with their status begin fromB to A social economic.
Currently, BUCKS Company has potential buyers from members relations
who will definitely buy Alphabetical Clock:
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Relationship Amount
Family 59
Friends 71
TOTAL 130
Relationship Amount
Family 73
Friends 224
TOTAL 297
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TOTAL 58
Table III.1.4.1 Alphabetical Clock
III.1.4.2 Classic Bed Sheet Set
For the actual target market, BUCKS Company target market are married
women living in Jakarta and Bandung, the people who like classic designs
applied in bedshee,t with high ability in purchasing secondary needs.
Currently, BUCKS Company has potential buyers from members relations
who will definitely buy the Classic Bed Sheet Set:
Table III.1.4.2 Classic Bed Sheet Set
III.1.4.3 Doormat
For the actual target market, BUCKS Companys target market are university
students in Jakarta, Bandung, and nereast cities; the people who like unique
designs applied on doormat with the high ability in purchasing secondary
needs.
Currently, BUCKS Company has potential buyers from members relations
who will definitely buy our Doormat:
Table III.1.4.3 Doormat
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III.1.5 Positioning Statement
III.1.5.1 Alphabetical Clock
To people who concern about new-technology applied on a
breakthrough product with their status from B to A social economic, BUCKS
Company presents a sophisticated alphabetical clock that creatively shows
you the time with a unique way. BUCKS Company can give the customer
some magic sensation from the light that glows on its surface, so they will
not have difficulty to see the time in the dark.
III.1.5.2 Classic Bed Sheet Set
To married women who like classic designs applied on bedsheet with
high ability in purchasing secondary needs, BUCKS Company offers number
one bedsheet in quality with competitive price. BUCKS Company proposes
the costumers a new sensation of sleeping in comfortable sheets.BUCKS
Company offers bed sheet, complete with its bedcover, pillowcases, long-
pillow cases, and decorative pillowcases.
III.1.5.3 Doormat
To people who like unique designs applied on doormat with high
ability in purchasing secondary needs, BUCKS Company offers a new
innovation of interesting doormat that combines tenderness and modernity.
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No. Universitas
JumlahMahasiswa
MarketSize
1 ITB 17865 2858
2 Unpad 30036 4806
3 Unpar 10000 1600
4 Maranatha
9666 1547
5 UI 35000 5600
6 Binus 23000 3680
7 Trisakti 30000 4800
8 LSPR 5017 803
24
III.1.6 Market Size
III.1.6.1 Alphabetical Clock
Alphabetical Clock did not use market size because BUCKS Company knows
the potential buyers.
III.1.6.2 Classic Bed Sheet Set
Table III.1.7.2 Market Size Classic Bed Sheet Set
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No. Universitas
JumlahMahasiswa
MarketSize
1 ITB 17865 8933
2 Unpad 30036 15018
3 Unpar 10000 5000
4 Maranatha
9666 4833
5 UI 35000 17500
6 Binus 23000 1150
07 Trisakti 30000 1500
08 LSPR 5017 2509
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Graphic III.1.7.2 Market Size Classic Bed Sheet Set
The market size of bed sheet is taken from 16% of the total students in one
university by categorizing them as innovator and early adaptor
III.1.6.3 Doormat
Table III.1.6.3 Market Size Doormat
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Graphic III.1.6.3 Market Size Doormat
The market size of doormat is taken from 50% of the total students in one universityby categorizing them as innovator, early adaptor and early majority.
III.1.7 Competitors
III.1.7.1 Alphabetical Clock
The product is very unique and rare in Indonesia, so direct competition
would not occur.
III.1.7.2 Classic Bed Sheet Set
Direct
a. King Koil Gallery
b. Pasar Baru seller who sells bed sheets with the
lowest price
III.1.7.3 Doormat
Direct
a. Carrefour Hypermart
b. Jakarta Carpet
c. Harmony Carpetd. Online Store (http://kaskus.us)
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CHAPTER IV
Marketing Strategiesand
SalesThis chapter describes the SWOT analysis of each product, pricing strategy, distribution
channel, promotion and advertisement strategy, sales strategy, sales program and issue
per
month. For the last, it also explain the after-sales service and control.
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Marketing Strategies and Sales
IV.1 SWOT AnalysisIV.1.1 Alphabetical Clock
Strength
This product have a unique design, high quality and high technology
product
Weakness
The cost is too high (about IDR 5 million)
The Alphabet clock is only showing the time in 5 minutes interval
People will spent longer time to see the time at the alphabet clock
because it is showing the time by words not by analogue or digital
display
Opportunity
This product is a new innovation and is still sold limitedly
Threat
There are many store or venture selling the usual clock with the same
function and with more cheaper price than the alphabet clock
The consumer tend to buy the clock by considering its function rather
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than its design
IV.1.2 Classic Bedsheet
Strength
High quality product.
Best material which is king koil.
Classy design.
Low cost than other same kind of product
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Weakness
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It is sold in a set including the bolster, pillow holster, the blanket and the
bed sheet. The costumer cannot buy only the blanket or only the pillow
holster separately
Not customizable
We did not provide single size,
so
the customer only has 2 choices,
which are king and queen.
Opportunity
Household living things which still has stable demand in industry
There are a substantial number of target
Threat
There are lots of bed sheet store
There are lots of bed sheet competitors
The costumer tend to buy bed sheets in well-known store and product
IV.1.3 Doormat
Strength
It has unique model and customizable design. It includes slippery
sandals, so that it can be used not only for doormat only
This product is washable
There are various color, shape, and model
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Weakness
The production cost is higher than common keset
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Opportunity
Bucks is the only venture who sell this product
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Threat
There are many stores that sell commonkeset with cheaperprice
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Costumer tend to buy keset by considering its function only rather
than its design
IV.2 Pricing StrategyIV.2.1 Alphabetical Clock
Alphabetical clock will be released at IDR 5.000.000. This price indicates that
BUCKS Company is using high and new technology to create this clock. This product
is still rarely seen in the world market, especially in Indonesia.
IV.2.2 Classic Bed Sheet Set
Bed sheet will be released with the price depends on the size. For the King
size, the price is IDR 1.500.000 and for the Queen size the price is IDR
1.300.000.This
price is very competitive and for the product that has high quality like this, this price
is lower than the other bed sheet with same quality.
IV.2.3 Doormat
Doormat will be produced in two types: the ones with slippers and the one
with unique design. For the ones with slippers, the price will be released at
IDR.100.000, and for the unique and material will be released at IDR 300.000.
IV.3 Distribution ChannelThe entire product is basically a household product, especially for Doormat
and Classic Bed Sheet Set. For those two, BUCKS Company will enter the market
through apartment developer, town house developer, and conventional housing.The other method is using pesonal selling startegies and direct selling method so
the
product is easier to deliver ( if outside Bandung can be delivered by TIKI).
IV.4 Promotion & Advertisement StrategyIV.4.1 Flyer and catalogue
BUCKS Company will continuously spread flyers in potential area so that
people will be more aware with our product and make them willing to buy. The
catalogue will be only spread in the place where high potential buyers are located,
especially during presentation.
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Website domain (*) Rp. 500.000,00
4 Banner @ Rp135.000 (**)
Rp. 565.000,00
100 A3 Poster @ Rp2.000
Rp.200.000,00
1500 Flyer @ Rp 500 Rp.750.000,00
1000 Catalogue Rp. 1.200.000,00
200 Sticker @ Rp1.000
Rp. 200.000,00
10 Proposal @Rp25.000
Rp 250.000,00
Transportation Cost(***)
Rp 1.600.000
Total Rp. 5.150.000,00
31
IV.4.2 Website
BUCKS Companys website will be created with classy design (sleek and easy
to browse) and contains companys profile, product specification and explanation,
product price, online selling (by email and phone), and how to contact the company.
IV.4.3 Sales team
Bucks Company will create three teams for sales. Each team will be led by
people who are already competent and experienced in selling. Each team will have
specific sales targets, so that every sales team could give equal contribution. First
and second team will focus on presentation and sales. The third team will be a
backup for supporting the sales and promoting.
IV.4.4 Internet
BUCKS Company will also sell and promote the product by using social
network media on the Internet like Kaskus, Facebook, Plurk, twitter, etc.
IV.4.5 Marketing Expenses
Table IV.1.5.5 Promotional Budget
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(*) Website; used IDR 500,000 to purchase internet domain
(**) Banners; print 4 items (company banner and 3 for each product)
(***) Transportation; used for fuels and toll fee to and from Jakarta & Bandung
IV.5 Sales StrategyBUCKS Company will have 3 sales teams that will be led by people who are
already experienced and competent in selling. BUCKS Company will use a lot of
personal selling and direct method to sell the products. BUCKS Company will always
making a list consisting of potential buyers and it will be updated each week for
easier selling of the products.
For Alphabetical Clock, BUCKS Company uses directselling and emotional
approach selling style for the potential buyers. BUCKS Company will also use
presentations method and do consistent followups until the potential buyer
purchase the products. Other than those methods, BUCKS Company will also
concentrate on giving proposals to certain companies for replacing their ordinary
clock with Alphabetical Clock, with the benefits of the added value of having their
companys logo on the Alphabetical clock and with lower price than the Alphabetical
clock that will be sold in the market. Then, after prioritizing above strategy, BUCKS
will expand the selling to the market outside the list of potential buyers.
For ClassBest, BUCKS Company will use different direct selling method by
presenting products to communal or specific group of people, especially housewives
at arisan or pengajian occasion.
For Doormats, BUCKS Company will approach the market by direct
marketing, using catalogues and brochures to target market and potential buyers.
Similar to ClassBest, BUCKS will use presentation method to groups of people at
certain occasion and events.
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IV.6 Sales Program & Issues per monthFebruary
In February, the target sales will be about 25% sales from the overall targetquantity.
There will be special design for doormat products on Valentines Day. BUCKS
Company will also create special design of alphabetical clock for the auction of SBM
ITB Golf tournament. Sales methods that will be used are personal selling and direct
sales. Personal selling method is to offer the products to family, friends and close
relations.
March
The target sales will be the same as last month which is 25% sales from theproducts
target sales. BUCKS Company will maintain the spirit and performance in this
month.
April
Target sales in this month are 20% sales from the products target sales. The
company target sales will decreases because of the midterm test in this month for
the entire companys members. All potential buyers of Alphabetical Clock will have
been approached and follow-upped.
May
Bucks Company increases the target sales to 30% sales from all the products
because it will be the last month for selling the products.
IV.7 After-Sales Service & Control
BUCKS Company will provide guarantees for each product, especially for
alphabetical clock, it has six-month guaranteed. If the clock breaks or malfunctions
after IBE, the customers can still contact BUCKS Company to repair the product.
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CHAPTER V
OperationsThis chapter describes the whole operations processes, including production plot,
inventory management, and quality control, plus companys facilities andequipments.
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OperationsV.1 Facilities & Equipment
For operational needs BUCKS Company has the following:
Computer, to create and store computer-based documents Place, to store any inventories and supplies
Cars, for operational necessity, for example deliver products Website, e-mail and phone number to ease Bucks Company communication
with consumer, vendor, etc.
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V.2 Production
Orders Contracts
Market AnalysisCustomer Requirement
&Specifications
S c ra p
Production Design
(Draw of what tomake)
Production process
Packaging
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V.2 Flow Chart Operation
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V.2.1 Alphabetical Clock
V.2.1.1 General
Production process will start in January 2010. Vendors will process the raw
material while BUCKS Company will wrap the products. The advantages of
this product are that this clock is the first in Indonesia and the price is lower
than the other company outside Indonesia that produces this product.
V.2.1.2 Production Plot
The production process will take 7 to 10 days on order session. One order
session will have a minimum order of 25 alphabetical clocks. BUCKS
Company will have one time order session. Operation will pay the minimum
down payment on the beginning of the order, and then operation will pay
the rest of the cost in one month interval from the first payment.
- BUCKS order the products to the vendor.
- The vendor will process the product for 7 until 10 days.
- The products will use the selected materials.
- The products which have been produced will be packaged into a very
special designed box.
- Finally, operation will send the product back to marketing for delivering
the products to the customers.
V.2.1.3 Quality Control
Daily observation is needed in production process to oversee the quality of
the product, including on pre production, progress and post production
process. The measures are:
- Make sure the clocks LED working properly and the cable is not broken.
- Check every detail after production process, make sure there are no scratch
and stain.
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V.2.2 Classic Bed Sheet Set
V.2.2.1 General
Production process will start in January 2010 until May 2010 depends on the
order from the customer. The bed sheet will be produced based on our own
design. The design of this product is made by BUCKS Company which will be
elegant and comfortable. The price of this bed sheet is more competitive than
other companies.
V.2.2.2 Production Plot
The production process will take 7 days or a week for one order session. For
one order session, the vendor is capable to produce 10 bed sheets and if there
are any additional orders from the customer, the vendor can make 2 bed
sheets per day. BUCKS Company will produce 5 bed sheets for the first week
of IBE and will always maintain 10 stock of bed sheet for every next week. If
the orders from the customer exceed BUCKS stock, BUCKS will produce the
bed sheet according to the markets orders. BUCKS will pay the down payment
when the order is issued and pay the rest of the cost every end of month.
- BUCKS order the products to the vendor.
- The vendor will process the product for 7 day
- The products will use the selected materials.
- The products which have been produced will be packaged into a very
special designed box.
- Finally, operation will send the product back to marketing for delivering
the products to the customers.
V.2.2.3 Quality Control
Daily observation is needed in production process to oversee the quality of
the product, including on pre production, progress and postproduction
process, and the measures are:
-Check whether the product is built according to the spec
-Stain or smell check
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-Final check for irregularities
V.2.3 Doormat
V.2.3.1 General
BUCKS have two different types of doormat which are slipper doormat and
unique-design doormat. For the slipper doormat, the production process will
only in January 2010 as BUCKS will order for one time only. For the unique-
design doormat, the production process will start at January 2010 until May
2010. The vendor will produce the product with BUCKS design. Slipper doormat
will be produced with a great functional design and materials. The other
doormat has the same useful function yet equipped with sophisticated unique
design.
V.2.3.2 Slipper Doormat
V.2.3.2.1 Production Plot
The production process will take time 2 weeks to produce for one order
session. First, BUCKS will order the goods from the vendor and also pay
for the down payment for the first order. After the products are finished,
they will be packaged and finally, they will be sent to the marketing team.
Then, after a month BUCKS will pay the rest of the cost.
- BUCKS order the products to the vendor.
- Process will take time for 2 weeks.
- The vendor will produce the product using the selected materials.
- The products which have been produced will be packaged into a very
special designed box.
- Finally, operation sends the product back to marketing to deliver the
products to the customer.
V.2.3.2.2 Quality Control
Daily observation is needed in production process to oversee the quality
of the product, including on pre production, progress and postproduction
process. The measures are:
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products will be monitored periodically and the stored products will be ready to be
delivered when an order from the customer is issued.
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CHAPTER VIFinance
This chapter describes the whole financial forecast, sales forecast, projected income
statement, projected balance sheet, sensitivity analysis, ratios, breakeven analysis,
and use of fund.
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FinanceTo start the business, Bucks Company will need fund in total of Rp29.697.500,00, and
is intended to acquire the fund from CIMB Niaga Bank loan. The use of the fund will
further be described in this chapter. This chapter also consists of some calculations to
see the business profitability, companys assets, and risks. However, first, the sales
forecast which is used in the rest of the calculations will be described.
VI.1 Source and Use of FundSource of Fund
Bank Loan
Use of Fund
Rp29.697.500
First Production
Alphabetical Clock
Keset Sendal
Doormat
Bedsheet King
Bedsheet Queen
Total
Operating Expense
Transportation Expense
General & Administrative
Expense:
Nota Penjualan
Stempel
Materai
Marketing Expense:
Banner
Poster
Flyer
Catalogue
Sticker
Website
Units
44
111
28
3
2
Down Payment
19,800,000
2,497,500
2,310,000
450,000
260,000
Rp25.317.500
500.000
100.000
80.000
60.000
540.000
200.000
750.000
1.200.000
200.000
500.000
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Proposal
Total
Total Use of Fund
250.000
Rp4.380.000
Rp29.697.500
Table VI.1 Source of Funds
The number of units for alphabetical clock and slipper doormat is actually the total
sales for the whole IBE activity. Due to the minimum order regulation from those
two products vendors (25 for clock and 100 for keset sendal), Bucks Company can
not minimize the units produced. For doormat, the first production will cover the
units required for sales in the first month. However, for Bedsheet, the first
production will only cover the first week sales as the method of the productiion is
based on order.
VI.2 Sales Forecast
Product
AlphabeticalClock
Keset Sendal
Doormat
Bedsheet King
Bedsheet Queen
February
1128
28
13
11
March
1128
28
13
11
April
922
22
11
9
May
1333
33
16
14
Total
44111
111
53
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Table VI.2 Sales Forecast
The sales flow of all products is based on 25:25:20:30 ratio in term of thepercentage
of the total sales. The decline and incline of the sales is estimated by assuming the
market and the sales force condition. Market saturation will cause the sales to
decline in the third month of sales activity. However, in the last month of IBE, all
sales force is expected to give their best effort to reach the companys target.
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VI.3 Projected Income StatementThe End of May 2010
Sales
Sales Returns & AllowancesNet Sales
less COGS
Gross Profit
less Operating Expenses
Operating Profit
Other Income
less Othe r Expense (Interest)
Net Profit
402,400,000
0402,400,000
178,430,000
223,970,000
47,920,000
176,050,000
42,633,950
1,122,810
217,561,140
Table VI.3 Projected Income Statement
According to the sales forecast, Bucks Company will get total Rp402,400,000 ofsales
revenue. Further description of the COGS and Operating Expenses is in the appendix
in the cash budgeting section. Salary expenses is included in the Operating
Expenses.
However, as the expense is actually not allowed to be taken, it goes to the Other
Income. The company will also get interest income that adds Other Income as it will
have a deposit for cash collateral. On the other hand, the company will be charged
the interest expense from bank loan. Substracting all costs from the sales revenue,
Bucks Company will get Rp217,561,140 of net profit.
VI.4 Projected Balance Sheet
Asset
Current Asset
Cash
Cash Collateral
Account Receivable
Inventory
Fixed Asset
Equipment
Depreciation on Equipment
Total Asset
May
247,258,640
29,697,500
0
0
0
0
Rp276,956,140
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Liabilities
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Bank Loan
Owner's Equity
29,697,500
Equity
Retained Earning
Total Liabilities and Owner Equity
29,697,500
217,561,140
276,956,140
Table VI.4 Projected Balance Sheet
This balance sheet describes the companys financial condition at the end of May,
which is the end of IBE activity. Account Receivable and Inventory is assumed to be
zero at the time. The company will have its products all sold and paid. There will
also be no equipment bought for the business.
VI.5 Sensitivity Analysis
Scenarios Pessimistic Most Likely Optimistic
Sales in Units
Alphabetical Clock
Keset Sendal
Doormat
Bedsheet King
Bedsheet Queen
29
74
74
35
30
44
111
111
53
45
58
148
148
70
60
Income Statements
Sales 266,100,000 402,400,000 532,200,000
Sales Returns &
Allowances
Net Sales
less COGSGross Profit
0
266,100,000
118,095,000
148,005,000
0
402,400,000
178,430,000
223,970,000
0
532,200,000
236,190,000
296,010,000
less Operating
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Expenses
Operating Profit
Other Income
(Salary)
less Other Expense
47,920,000
100,085,000
42,633,950
1,122,810
47,920,000
176,050,000
42,633,950
1,122,810
47,920,000
248,090,000
42,633,950
1,122,810
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Gross Profit Margin (%) 55.66
Operating Profit Margin 43.75
Net Profit Margin (%) 54.07
Times Interest Earned 156.79
Net Present Value 216,263,778
Internal Rate of Return 32%
Total Asset Turnover
47
(Interest)
Net Profit
Net Profit Margin
141,596,140
53.21
217,561,140
54.07
289,601,140
54.42
Table VI.5 Sensitivity Analysis
The optimistic sales scenario is estimated to be 25% more than the most likely
scenario, while the pessimistic is 25% less than the most likely. The optimistic
scenario is based on the assumption that the company will be able to reach almost
all of its target market. The net profit from the three scenarios are different in
numbers. However, the net profit margin (net profit compared to sales) seems to be
stabile.
VI.6 Ratios
Table VI.6 Ratios
The Operating profit margin is far below the gross and net profit margin as the
company has to record its salary expense. With the assumption of 6% discount rate,
BUCKS Company has positive net present value.
VI.7 Payback Period and Break Even Analysis
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Payback Period
Initial Investment 29,697,500
Operating Cash Flow
February51,207,785
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March 55,087,785
April 45,047,785
May 66,217,785
Payback Period 16
Fixed Cost 47,920,0
00Total Variable Cost (%) 44.3
4Operating Break Even 86,096,3
88
48
Table VI.7.1 Payback Period
Bucks Company will get its initial investment back in 16 days.
Break Even Analysis
Table VI.7.2 Break Even Analysis
By getting more than Rp86,096,388, Bucks Company will earn profit.
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REFERENCES
Armstrong & Kotler. 2009. Marketing an Introduction 9th ed. USA: Pearson PrenticeHall.
Gitman, Lawrence. J. 2009.Principles of Managerial Finance 12th ed.USA : PearsonAddison Wesley.
http://www.entrepreneur.com(Clicked November 4th, 2009; 16.10 p.m. )
http://www.tempointeraktif.com(Clicked November 11th, 2009; 14.13 p.m. )
http://www.qlocktwo.com (Clicked September 2nd, 2009; 09.09 a.m.)
49
http://www.entrepreneur.com/http://www.tempointeraktif.com/http://www.qlocktwo.com/http://www.entrepreneur.com/http://www.tempointeraktif.com/http://www.qlocktwo.com/ -
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APPENDIX
Projected Income Statement per Month 2010
Projected Balance Sheet per Month 2010
February March April May
Asset
Current Asset
Cash
Cash CollateralAccount Receivable
Inventory
80,905,285
29,697,500
0
0
135,993,070
29,697,500
0
0
181,040,855
29,697,50
0
0
0
247,258,640
29,697,500
0
0
Fixed Asset
Equipment
Depreciation on Equipment
Total Asset
0
0
110,602,785
0
0
165,690,570
0
0
210,738,355
0
0
276,956,140
Liabilities
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Bank Loan 29,697,500 29,697,500 29,697,500 29,697,500
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Income Statement February March April May
Sales 100,000,000
100,000,000
82,000,000
120,400,000
Sales Returns & Allowances
Net Sales 100,000,000
100,000,000
82,000,000
120,400,000
less COGS 44,280,0
00
44,280,0
00
36,320,0
00
53,550,0
00Gross Profit 55,720,0
0055,720,000
45,680,000
66,850,000
less Operating Expenses 14,890,000
11,010,000
11,010,000
11,010,000
Operating Profit 40,830,000
44,710,000
34,670,000
55,840,000
Other Income 10,658,488
10,658,488
10,658,488
10,658,488
less Other Expense (Interest) 280,702
280,702
280,702
280,702
Net Profit 51,207,785
55,087,785
45,047,785
66,217,785
Owner's Equity
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Equity
Retained Earning
Total Liabilities and Owner
Equity
29,697,500
51,207,785
110,602,785
29,697,500
106,295,570
165,690,570
29,697,500
151,343,355
210,738,355
29,697,500
217,561,140
276,956,140
Projected Statement of Cash Flow
Beginning February March April May
February
Operating Cash Flow
Net Income
Depreciation
Change in Account
Receivable
Change in Inventory
Change in prepaid expense
-
-
-
-
51,207,785
0
0
0
0
55,087,785
0
0
0
0
45,047,785
0
0
0
0
66,217,785
0
0
0
0
Change in Downpayment to
supplier- 0 0 0 0
Change in Downpayment to
customer0 0 0 0
Total Operating Cash Flow - 51,207,785 55,087,785 45,047,785 66,217,785
Cashflow from investing
activities
Purchase of equipment - 0 0 0 0
Total cashflow from investing
activities- 0 0 0 0
Cashflow from financing
activities
Bank Loan C ash Colla teral29,697,500
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697,500 0
0
0
0
0
0
0
0
Total cashflow from financing
activities
Net Cashflow
59,395,000
59,395,000
0
51,207,785
0
55,087,785
0
45,047,785
0
66,217,785
Cash Beginning0 59,395,000110,602,785 165,690,570
210,738,355
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Cash Ending 59,395,000 110,602,785 165,690,570 210,738,355
276,956,140
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Cash Budgeting
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February March April May
Cash Receipt:
Forecast Sales
Jam Alfabet (40)
Keset Sendal (100)
Keset Luar (100)
Bedsheet King (50)
Bedsheet Queen (45)
Total Sales
55,000,000
2,800,000
8,400,000
19,500,000
14,300,000
100,000,00
0
55,000,000
2,800,000
8,400,000
19,500,000
14,300,000
100,000,000
45,000,000
2,200,000
6,600,000
16,500,000
11,700,000
82,000,000
65,000,000
3,300,000
9,900,000
24,000,000
18,200,000
120,400,000
Other Income
Salary Income
Interest Income
Total Other Income
10,510,000
148,488
10,658,488
10,510,000
148,488
10,658,488
10,510,000
148,488
10,658,488
10,510,000
148,488
10,658,488
Bank Loan29,697,500
TOTAL CASH RECEIPTS140,355,98
8
110,658,48892,658,488 131,058,488
Less: Cash Disbursement :
Purchases (Down Payment)
Jam Alfabet
Keset Sendal
Keset Luar
Bedsheet King
Bedsheet Queen
Total Purchase
19,800,000
2,497,500
4,620,000
4,875,000
3,575,000
35,367,500
0
0
1,815,000
4,875,000
3,575,000
10,265,000
0
0
2,722,500
4,125,000
2,925,000
9,772,500
0
0
0
6,000,000
4,550,000
10,550,000
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Packaging
Jam Alfabet
Keset Sendal
Keset Luar
Bedsheet King
Bedsheet Queen
Total Packaging
2,750,000
140,000
420,000
975,000
715,000
5,000,000
2,750,000
140,000
420,000
975,000
715,000
5,000,000
2,250,000
110,000
330,000
825,000
585,000
4,100,000
3,250,000
165,000
495,000
1,200,000
910,000
6,020,000
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Payment of A/P :
Jam Alfabet
Keset Sendal
0
0
46,200,000
2,497,500
0
0
0
0
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52
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53
Keset Luar
Bedsheet King
Bedsheet Queen
Total A/P
2,310,000
4,875,000
3,575,000
10,760,000
2,310,000
4,875,000
3,575,000
59,457,500
1,815,000
4,125,000
2,925,000
8,865,000
2,722,500
6,000,000
4,550,000
13,272,500
Operating Expenses
General &Administrative
Expense
Nota Penjualan
Stempel
Materai
Total General and
Administrative Expense
Marketing Expense
Banner
Poster
Flyer
Catalogue
Sticker
Website
Product Samples
Total Marketing Expense
100,000
80,000
60,000
240,000
540,000
200,000
750,000
1,200,000
200,000
500,000
250,000
3,640,000
Transportation Expense 500,000 500,000 500,000 500,000
Packaging
Salary Expense
Total Operating Expense
Interest Expense
10,510,000
14,890,000
280,702
10,510,000
11,010,000
280,702
10,510,000
11,010,000
280,702
10,510,000
11,010,000
280,702
Principal Payment 29,697,500
TOTAL CASH
DISBURSEMENT
Net Cash Flow
Ad
d:
Be
gi
nni
ng
Ca
sh
En
di
ng
Ca
sh
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8/6/2019 BUCKS_Business Plan Finish
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