Documentos de Académico
Documentos de Profesional
Documentos de Cultura
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OVERVIEW
OF FURNITURE INDUSTRY
Creative Furniture
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According to Pakistan Economic Census 2005, out of the total 583 thousand manufacturing industries covered in the census, 10.8% were Products of furniture. According to the census, in the urban areas the share of house hold establishments in furniture products manufacturing was about 8% of the total household manufacturing industries. Area wise analysis also depicts the similar trends. The demand for furniture products is increasing in the domestic market as well as in the international market due to its traditional appeal and durability and also because the introduction of new materials in furniture manufacturing. Furniture Showroom is a viable profitable business if done properly on Commercial basis. Demand for household and office furniture is growing considerably as socio-economic development is taking place. With the rapid increase in the development of new housing schemes, the increased demand of furniture is also anticipated. According to the National Housing Policy 2001, the house construction was to be raised by 500,000 houses per annum. Furthermore, introduction of new schemes by different banks for house and consumer financing have also raised the purchasing power of general public. Furniture, which is given as dowry, forms the major portion of sales of furniture in Pakistan. As a result, the demand for household furniture increases substantially in winter and spring season due to weddings. Domestic/office requirements and trend of dowry in the form of furniture considerably increase the need for quality furniture. Major trading partner of furniture manufactured in Pakistan are USA, UK, Japan, UAE and earning substantial foreign exchange for the country and contributing towards the strengthening of economy. Although, currently the Pakistans export of the furniture is not significant as compared to total International market but its exports are increasing rapidly. Pakistans exports of furniture have increased by 34.33 percent in year 2002-2003.Internationally, Pakistans major trading partners are Gulf region, Australia, and USA,which are still negligible as compared to the volume of international market. There is large scope of furniture in other countries like Spain, Germany, Italy, South Africa, etc. This proposed project is concerned with the domestic market of Pakistan. The target market for this proposed project would be. The demand in these areas is influenced by the number of new houses/offices built and old houses/offices renovated/reconstructed. The renovation and redecoration of households is a routine process in these areas.
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IMPORTED FURNITURE
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Furniture imported in Pakistan is normally of Italy, China & Spain. As this proposed showroom business is targeted towards high class and middle class, it is necessary to offer imported furniture. Due to its high attraction among targeted market, it can generate significant revenue for the business. Made in China - which had already hurt the local plastic industry and has made inroads in toys, electronic items and other products is all set to dominate the local furniture market. It is now feared that most of the people who had small businesses of producing furniture have now become importers of Chinese furniture. Those in the furniture business revealed that some 200 out of 500 factories in different localities of Karachi including Liaqatabad, Landhi, Shershah and Gharibabad that were busy in manufacturing small items of furniture like office chairs, TV trolleys and other items have been completely shut down and that the owners of these factories have become the importers of Chinese products. The raw material used in making office chairs, TV trolleys and other small items are available at a higher price in the local market and Chinese readymade products are comparatively less expensive so most of the manufacturers have decided to shut down their business and started to import the same item from China. The foreign sources of furniture in Pakistan are China, Germany and Italy; however, they have not yet succeeded in grabbing local markets share of the heavy furniture. The quality of local heavy furniture is higher and lesser in price, which includes complete bed set which is much better than the Chinese one because in the customs, freight charges are being charged according to the weight and volume of the item, and a Chinese bedroom set costs around Rs 800,000/- when it reaches Karachi. However for the items which fall in the light furniture category China has dominated the market and has hurt the local industry to around 80 per cent. An attempt on deco furniture and by using MDF chip board and fiber glass approach, the domestic suppliers have been able to attract the consumers again to the local markets as By using this approach the manufacturers have created decent designs and carvings on the bedroom sets and an excellent indigenous bedroom set is now available in Rs175, 000. The Alliance of Market Associations Karachi has assured the government if it caps the increasing prices of raw material and announces incentives to the manufacturers, the local Small furniture industry would be reactivated and hundreds of sidelined persons could be re-employed.
Creative Furniture
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Creative Furniture
CORPORATE DESCRIPTION Name: Address: Phone: E-mail: Our Business: Our Products:
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Creative Furniture
Trust Plaza Model Town Grw 055-3580000 Creativefurniture@info.com Furniture Showroom
Bed set with 2 side table. Dinning table Sofa set Dressing table
Slogan: Bank:
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UBL, ASKARI
Nature of business:
Nature of business is Partnership which consists of three partners; one of them will be sleeping partner and he will invest 5 million. Other two members will be working partners and will invest capital on equal basis 2.5 million per partner. But the profit and loss will be shared with the equal ratio among the partners.
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Our mission is to provide quality furniture with unique, changeable & gorgeous styles to fully satisfy the unmet desires of furniture customers.
VISION
Any product from CREATIVE FURNITURE will be the Symbol of superior Quality, Trust and attraction.
Creative Furniture
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Creative Furniture
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Creative furniture will be a type of business which will be started by three partners and they will combine start this business with the help of each other. Creative furniture will provide quality furniture with unique, changeable & gorgeous styles to fully satisfy the unmet desires of furniture customers. Nature of business is Partnership which consists of three partners; one of them will be sleeping partner and he will invest 5 million. Other two members will be working partners and will invest capital on equal basis 2.5 million per partner. But the profit and loss will be shared with the equal ratio among the partners. Creative Furniture will be located in Trust Plaza Model Town Gujranwala and this is a very strategic location for this type of business because there are already many showrooms of furniture so in existing market we will start our business. Our collection of furniture will be stylish and durable and reliable. We will have specialized experts for the range of furniture products designs that we will offer. The beauty of our furniture will not be the similarities but in the differences of quality furniture. We will offer a stylish range of classic and fashionable furniture, attractive and creative designs in furniture. Our stunning range of furniture includes; Bed set (with 2 side table) Sofa set a) One three seater, two single seater and one double Seater sofa, one central table Dinning table a) 6 seater Dinning Table and chairs with trolley b) 8 seater Dinning Table and chairs with trolley etc.
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JOBS:
Initially there will be 10 jobs and for those jobs there will be certain qualification requirements for each job i.e. For supervisor minimum requirement will be B.Com or B.A. with better communication skills. For designer minimum requirement will be F.A. with diploma in designing. For dealers minimum requirement is Matriculation and better communication skills so that they can handle customers. 10
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Workers will be for taking the furniture and for home services. Security guard will be any retired Person from army. No qualification requirement for Sweeper.
One Designer
Two Dealers
Four workers
Security Guard
Sweeper
Partners of Creative furniture will be the highest authority and after that the Show room supervisor and he will be answerable in front of partners only. Under supervisor there will be staff of 9 members who will be answerable in front of him.
Name Of Partners
Umar Ahsan Muhammad Asad Raza Ahmad Waqas
Qualification
BBA(H) BBA(H) BBA(H)
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Partners of Creative furniture will be the highest authority and their main work will be to make effective strategies and also to see the new trends according to which the business can become more and more successful after that the duty of supervisor will be to maintain the accounts of showroom and to manage all the major issues relating the business and he will be answerable in front of partners only. Under supervisor there will be staff of 9 members who will be answerable in front of him.
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TOTAL
Our collection of furniture will just introduce reliable and changeable furniture that makes your home gorgeous and attractive. We will have specialized experts that make the designs of furniture according to the trends and customized products. The beauty of our furniture will not be the similarities but in the differences and innovations of reliability, changeability and durability of furniture. We will offer a stylish & stunning range of steel and iron furniture.
OUR
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a) One three seater, two single seater and one double Seater sofa, one central table Dinning table a) 6 seater Dinning Table and chairs with trolley b) 8 seater Dinning Table and chairs with trolley Dressing table Show case
PROBLEM OF THE CUSTOMERS: The problems with existing furnitures products are: Difficult to assemble. Lack of Attractive styles which will be changeable according to the desire of customers. Wastage of whole product if any part damages. More time for manufacturing is required. Low reliability because of SYONG in wood furniture. Heavy weight of wood furniture. High rates.
SUPPORT SERVICES:
We will provide the supporting services like after sale whenever customer wants to reassemble its furniture according to new designs and also will provide transportation facility if any customer wants to avail and if he/ she will be ready to pay more than normal for those services. But these charges will be very fair and affordable. Our four workers will be ready to provide these types of services.
reassembling of furniture
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Creative Furniture
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Marketing Analysis
Action Phase
Analysis Phase
Market
Analysis
Product
Promotion
Plan
Price
Plan
Plan
Place
Plan
Customer
Sales
Analysis
Forecast ing
SupplyChain Anal
Competitors Analysis
ANALYSIS PHASE
MARKETING ANALYIS:
We conducted marketing research by visiting the showrooms of furniture of Gujranwala and from them we collected information about the trends of buying furniture of different income groups of customers. After collecting information we analyzed the buying behavior of customer towards iron and wood furniture and then segmented customers according to their income and selected two segments. On the basis of market survey we developed market strategies.
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CUSTOMER ANALYSIS:
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We are focusing on the customers of furniture which are not completely satisfied with the existing products of furniture. And the reason of their dissatisfaction is the less reliability of existing furniture products. Customer profile is developing data about the customer and gathering and analyzing all information about target market i.e. who are our customers? Where do they live? What are their unmet needs? Etc. And in customer profile we analyzed customer behavior on the basis of the answers of these questions. The customers of Creative Furniture are high and middle income group and they reside in Gujranwala and they cover about 20-25% of total population of Gujranwala. . Customers are looking for Customized Products which can be changed according to the trends. We will provide novel assembling and better maintenance with high reliability for the real satisfaction of customers Our customer will be communicated through electronic media (Cable network) and outdoor media (Bill Boards). As high and middle income group are looking for reliability and reassembling features in their furniture and they are ready to pay more than, they used to pay in the past for furniture, which can give them satisfaction and strength. So the prices of our furniture products they will happily pay what we will charge for that. PROBLEM: The problems with existing furnitures products are: Difficult to assemble. Lack of Attractive styles which will be changeable according to the desire of customers. Wastage of whole product if any part damages. More time for manufacturing is required. Low reliability because of SYONG in wood furniture. Heavy weight of wood furniture. High rates.
MARKET SEGMENTATION:
Market segmentation looks at the nature and the extent of diversity of buyers needs and wants in the market. It offers an opportunity for a business to focus its business capabilities on the requirement of one or more group of buyers. The objective of segmentation is to examine differences in needs and wants and identifying the segments within the 17
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product market of interest. Each segment contains buyers with similar needs and wants for the product category of interest to management. We divided our buyers into two segments on the basis of their income level because behind the furniture buying interest there is income which affects the buying behavior of furniture. For this purpose we visited the furniture showrooms and interviewed the owners of showrooms of furniture as well as the customers and then segmented our market. Following table shows the segments of the furniture showrooms;
MARKET SEGMENTS
High Income group Middle/High class
INCOME
LEVEL
50000---above 30000---50000
EFFECTIVE SEGMENTATION
The segmentation for our business is better & useful because it is; 1. Measurable: We have divided furniture buyer on the basis of there income & access them for their purchasing power. So all these segments are measurable as their income levels are specified. 2. Substantial: This segments is large enough & profitable & enough to serve the furniture customers.
MARKET TARGETING:
The purpose of market targeting is to select the people that firm wishes to serve in the market. The objective is to find the best match between the value requirements of each segment and the firms distinctive capabilities. This proposed project is concerned with the domestic market of Pakistan. The target market for this proposed project would be target segments of upper and middle class having income range 30,000--18
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above. The demand in these areas is influenced by the number of new houses/offices built and old houses/offices renovated/reconstructed. The renovation and redecoration of Households are a routine process in these areas. According to furniture market segmentation we will target segments of upper and middle class having income range 30,000---above. We will target this segment on the bases of our capabilities as the strength of our firm will be the differentiation in designs of our product and segments we targeted usually want to have something different and unique form like reassembling with only some more amount, for the sake of their new trends and current styles according to their own choice.
POSITIONING:
Positioning is a perception of a product/ Service in the mind of customer. We are going to target upper and middle class income groups and our mission is to provide them Iron and steel furniture with innovative features like reassembling with different designs etc and reliability. Our aim is to position our Firms image in the minds of customers as Innovative furniture from Creative Furniture according to their own choice. So our positioning strategy is CHANGEABILITY AND RELIABILITY.
COMPETITOR PROFILE:
As such there is no direct competitor because we are going to introduce a product with absolutely different and innovative features. But there are number of indirect competitors, they might be entering in that particular field in future. Indirect competitors are all those who has the potential to enter in this field and innovative way of delivering the furniture products. Indirect competitors includes all those manufacturer of furniture of wood, plastic etc and also Indirect competitors are Manufacturer of gazers, Manufacturer of door & windows Manufacturer of grails & of steel.
SALES FORECASTING
We have forecasted the expected sales by using the technique of BREAKDOWN METHOD of our two products of which are following;
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SALES FORECASTING
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CALCULATIONS
Total Population of Gujranwala Target Market (Middle and high class) 25% Total Population who will like to buy Our Furniture 10% 25% of 1.5 Million 10% of .375 Million
Final Figure
1.5 Million .375 Million .037 Million
We after research concluded that there are mainly two types of customers which are the customers of furniture products. One type is Quality conscious and the other type is price conscious. The percentage of Price conscious is more than the quality conscious which is 75 % and remaining 25 % customers are of quality conscious. So we made these two zones for forecasting;
SALES FORECASTING
OF
QUALITY ZONE
Quality Conscious Customers 25% Competitors Share 95% 25% of .037 Million 95% of 9375 9375 8906
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Market available Our Capacity 50% 50% of 469
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469 235
PRICE ZONE
Quality Conscious Customers 75% Competitors Share 95% Market available Our capacity 50% of 1406 75% of .037 Million 95% of 28,125 28,125 26,719 1406 703
SALES FORECASTING
OF
CALCULATIONS
Total Population of Gujranwala
Final Figure
1.5 Million
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Target Market (Middle and high class) 25% Total Population who will like to buy Our Furniture 10% 25% of 1.5 Million 10% of .375 Million
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Here again we after research concluded that there are mainly two types of customers which are the customers of furniture products. One type is Quality conscious and the other type is price conscious. The percentage of Price conscious is more than the quality conscious which is 75 % and remaining 25 % customers are of quality conscious. So we made these two zones for forecasting;
QUALITY ZONE
Quality Conscious Customers 25% Competitors Share 95% Market available 25% of .037 Million 95% of 9375 9375 8906 469
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Our Capacity 50% of 469
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PRICE ZONE
Quality Conscious Customers 75% Competitors Share 95% Market available Our capacity 50% of 1406 75% of .037 Million 95% of 28,125 28,125 26,719 1406 703
SALES FORECASTING
OF
FIVE
PRODUCTS
(ASSUMPTION):
CALCULATIONS Final Figure
1.5 Million
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Target Market (Middle and high class) 25% Total Population who will like to buy Our Furniture 10% 25% of 1.5 Million 10% of .375 Million
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Here again we after research concluded that there are mainly two types of customers which are the customers of furniture products. One type is Quality conscious and the other type is price conscious. The percentage of Price conscious is more than the quality conscious which is 75 % and remaining 25 % customers are of quality conscious. So we made these two zones for forecasting;
QUALITY ZONE
Quality Conscious Customers 25% Competitors Share 95% Market available 25% of .037 Million 95% of 9375 9375 8906 469
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Our Capacity 25% of 469
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PRICE ZONE
Quality Conscious Customers 75% Competitors Share 95% Market available Our Capacity 25% of 1406 75% of .037 Million 95% of 28,125 28,125 26,719 1406 352
MARKETING MIX
Marketing mix is the set of the marketing tools that a firm uses to persuade its marketing objectives in the target market. The activities about which the market must make decisions fall into following four general categories:
PRODUCT
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PRICE PLACE PROMOTION
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PRODUCT PLAN:
The basic marketing tool is product. Product refers to the high tangible offer to the market. This includes the quality of the products design, features, branding and packaging of the offer. Services and warranties are also considered the product issue.
BED
SET
(2
SIDE TABLE):
We will offer the bed sets in two standard sizes Single bed (size =3*5) with 2 side tables Double bed (size= 5*6) with 2 side tables We will introduce the combination of two metals (Iron & Steel) which will be helpful to make our products durable and changeable. We will 26
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also offer the customized manufacturing facility to our customers to meet their satisfactions.
SOFA
SET:
In sofa set we initially will offer 6 pieces; 3, 2, 1 sofa set. 1 table and 2 side tables.
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We will introduce the combination of two metals (Iron & Steel) which will be helpful to make our products durable and changeable. We will also offer the customized manufacturing facility to our customers to meet their satisfactions.
DINNING
TABLE:
In dinning table there we will offer a dinning set which will include the; 6 chairs 1 dinning table We will introduce the combination of two metals (Iron & Steel) which 28
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will be helpful to make our products durable and changeable. We will also offer the customized manufacturing facility to our customers to meet their satisfactions.
DRESSING TABLE:
In dressing table we will offer elegant designs according to new trends. We will introduce the combination of two metals (Iron & Steel) which will be helpful to make our products durable and changeable. We will also offer the customized manufacturing facility to our customers to meet their satisfactions.
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PRICING PLAN:
A critical marketing tool is price. It is the amount of money that customers have to pay for the product. Price decisions involve price determination as well as setting price policies and developing specific pricing strategies. We will target high-income and middle to high income groups. We will use Market penetration strategy for pricing because of high competition and large number of competitors in Gujranwala market who have already captured a large number of customers of furniture and have major share in furniture market in Gujranwala. Our price range for iron and steel furniture products will be following;
FURNITURE ITEMS
Bed set (with 2 side table) Sofa set Dinning table Dressing table Show case Total above Products
The sales price for the furniture will be the total cost and profit. Total cost included fixed cost and variable cost. The profit margin will be 30%-35% from which we will give 15 % profit to our manufacturer so that he may work happily with us. Sales Price= Total Cost+ Profit Total Cost= Fix Cost + Variable Cost Variable Cost= Raw material (Iron & Steel) * kg Profit Margin= 30-35% on purchase price
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PLACEMENT PLAN:
Place or distribution address is that where the product is distributed. It is concerned with the selection, coordination and evaluation of distribution channels. And the distribution channel is the set of firms and individuals who participate in the flow of goods and services as they move from producer to end users. Our selection of place is also having a strategic importance in this type of business. We will locate our show room in Trust Plaza Model Town Gujranwala. We have selected this area for our show room because it is very convenient for our target customers. Another reason for selecting this place is it is considered a place of FURNITURE MARKET. So when furniture customers will come there for purchasing the furniture then they at least will see our show room and it will be a type of advertisement.
SUPPLIER
MANUFACTURER
SHOWROOM
CUSTOMER
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In start of our business we will establish only one show room in trust plaza model town Gujranwala. WE will manufacture our products from Supplier and will deliver to the customers.
PROMOTION PLAN:
Promotion stands for various activities The Company undertakes to communicate to promote its products to target market. Our promotion plan includes; Print Media Electronic Media Bill Boards Interior Decoration Magazines In print media there will be a full page advertisement in Sunday magazine of JUNG Newspaper which will cost Rs: 50000/annum. Electronic media will include local cable network and Gujranwala television network and the total estimated cost of advertisement on cable network will be Rs: 1, 80,000 per year and on GTV advertisement cost will be Rs: 60,000 per year. One billboard on Pndi Bypass and other will be on G.T. Road will cost Rs: 70,000. Printing of visiting card of outlet will cost Rs: 2,000.
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WEAKNESS:
High prices of raw material {iron} Huge investment is require
OPPORTUNITIES:
Increasing preference for the high quality products. Construction Renovation of houses and Offices create new opportunities.
THREAT:
Narrow market, as target market is high class. Quality & design of the Furniture needs to be considered very closely as the Lifestyle of people is improving. Established competitors.
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OPERATION PLAN:
PURCHASE PLAN
The process of furniture manufacturing starts from obtaining raw material of iron and steel from supplier. Then it is shaped according to the designs. When this step completed then normally manual work started. Then it is polished and at the end assembled. Creative Furniture will order for its customized products to a local manufacturer and will pay some amount in advance so that things should be ready according to the orders and there will be no chance of delay in order of the customers. At first the customer will select a design of furniture item and then customer will order. If the furniture item which customer selects, is in the stock then we will deliver that item to the customer and will receive payment. On the other hand, if customer selects an item which is not in the stock then with an order we will receive advance payment from customer.
Payment Schedule:
If customer selects an item which is not in the stock then with an order we will receive advance payment from customer. Then we will forward that order with design specification to our supplier for manufacturing that item and also will pay advance to supplier. At the specified date we will receive the ordered furniture item from supplier and deliver it to the customer and settle the payment with customer and supplier. These steps will fulfill the order.
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FINANCIAL PLAN:
SALES FORECASTING
We have forecasted the expected sales by using the technique of BREAKDOWN METHOD of our two products of which are following;
CALCULATIONS
Total Population of Gujranwala Target Market (Middle and high class) 25% Total Population who will like to buy Our Furniture 10% 25% of 1.5 Million 10% of .375 Million
Final Figure
1.5 Million .375 Million .037 Million
We after research concluded that there are mainly two types of customers which are the customers of furniture products. One type is Quality conscious and the other type is price conscious. The percentage of Price conscious is more than the quality conscious which is 75 % and remaining 25 % customers are of quality conscious. So we made these two zones for forecasting;
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SALES FORECASTING
OF
QUALITY ZONE
Quality Conscious Customers 25% Competitors Share 95% Market available Our Capacity 50% 50% of 469 25% of .037 Million 95% of 9375 9375 8906 469 235
PRICE ZONE
Quality Conscious Customers 75% Competitors Share 95% Market available Our capacity 50% of 1406 75% of .037 Million 95% of 28,125 28,125 26,719 1406 703
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SALES FORECASTING
OF
FIVE
PRODUCTS
(ASSUMPTION):
CALCULATIONS Final Figure
1.5 Million 25% of 1.5 Million 10% of .375 Million .375 Million .037 Million
Total Population of Gujranwala Target Market (Middle and high class) 25% Total Population who will like to buy Our Furniture 10%
Here again we after research concluded that there are mainly two types of customers which are the customers of furniture products. One type is Quality conscious and the other type is price conscious. The percentage of Price conscious is more than the quality conscious which is 75 % and remaining 25 % customers are of quality conscious. So we made these two zones for forecasting;
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QUALITY ZONE
Quality Conscious Customers 25% Competitors Share 95% Market available Our Capacity 25% of 469 25% of .037 Million 95% of 9375 9375 8906 469 117
PRICE ZONE
Quality Conscious Customers 75% Competitors Share 95% Market available Our Capacity 25% of 1406 75% of .037 Million 95% of 28,125 28,125 26,719 1406 352
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Investment
2.5 Million 5.0Million 2.5 Million
Total Amount
10 Million
CALCULATION (RS)
7,000*1*12 5,000*1*12 4,500*2*12 4,000*4*12 3,500*12 3,000*12
AMOUNT (RS)
84,000 60,000 108,000 1,92,000 42000 42000 5,28,000 48,000 24,000 72,000 3,60,000 3,50,000
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CREATIVE FURNITURE
31 2009
ST
DETAILS
TOTAL SALES FORECASTED LESS: COST OF GOODS SOLD NET PURCHASES (1,40,000*12) TRANSPORTATION IN GROSS INCOME LESS: OPERATING EXPENSES SALARIES RENT ELECTRICITY BILL TELEPHONE BILL
DEPRECIATION EXPENSES
AMOUNT (RS)
16,80,000 20,000
AMOUNT (RS)
23 MILLION (1.7 MILLION) 21.3 MILLION
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AMOUNT
FLOW FROM OPERATING
NET INCOME LESS: INCREASE IN INVENTORY (2.6 MIL) NET CASH INFLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING ACTIVITIES: CASH OUTFLOW FROM (1,80,000)
PURCHASE SYSTEM OF OUTFLOW OUTFLOW OF COMPUTER FROM FROM SECURITY
CASH
CASH PURCHASE EQUIPMENT
PURCHASE OF FURNITURE
10
MIL
10
MIL
ENDING CASH
24.4
MIL
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CREATIVE FURNITURE
31 2009
ST
LIABILITIES CAPITAL Umar Ahsan Ahmad Waqas Muhammad Asad Raza NET INCOME AFTER TAX 2.5 Mil 5.0Mil 2.5 Mil
AMOUNT (MIL)
ASSETS
CURRENT ASSETS:
AMOUNT
(MIL) CASH
HAND SECURITY DEPOSIT
IN
24.5 0.12
10.0 18.7
0.05
0.95 28.7
MIL
TOTAL
28.7
MIL
TOTAL
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The partnership deed is made on May 1st, 2008 between; Mr. Ahmad Waqas Mr. Umar Ahsan Mr. Asad Raza
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We as the partner and owner of business are mutually agreed to establish a Furniture Showroom in Trust Plaza Model Town Gujranwala. This partnership deed is as follows; Date: May 1st 2008 Name of Business: Creative Furniture Nature of business: Trading Concern Duration of Partnership: At least 3 years Location: Trust Plaza Model Town Gujranwala
Name Partners
Mr. Ahmad Waqas Mr. Umar Ahsan Mr. Asad Raza
of Investment
5.00Million 2.5 Million 2.5 Million
Profit/Loss Ratio
33% 33% 33%
Mr. Umar will be responsible for the marketing maters. Mr. Asad will be responsible for suggestions and other relating affairs Mr. Waqas is sleeping partner so he is not responsible for any particular matter but he can give suggestions for the improvement of business. Rules of Admission of a new Partner: Whenever a new partner will enter then, with the mutual consent of partners the partnership deed will be revised.
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Witnesses:
Witness # 1: Mr. Amjad Ali Witness # 2: Mr. Waleed Mughal Signature: -------------Signature: ---------------
ARBITRATION: NAME
AND
ADRESSES
OF
PARTNERS:
MR. AHMAD WAQAS ST # 5 M.A.W TOWN GUJRANWALA CELL #: 0300-3333333 MR. UMAR AHSAN ST # 5 M.A.W TOWN GUJRANWALA CELL #: 0300-3333333 MR. ASAD RAZA ST # 5 M.A.W TOWN GUJRANWALA CELL #: 0300-3333333
Signatures: ---------------
IMPLEMENTATION
AND
CONTROL:
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We will implement our business plan by doing according to what we have planed. We will start of our firm from JUNE 1st 2008. At 1st we will emphasize on promotion especially on advertisement to make our target market aware of our firm and our product. We will make limited sale in 1st year of our business because we want to provide good quality product and services to our customers and want to achieve success step by step by getting our goals and objectives. After a year we will check our business performance by following checklist;
Evaluation Factors
Business Reputation Innovation effectiveness Entrepreneurial success Market Share Customer Satisfaction Relations with customers Product Quality Financial stability
Very Good
Good
Fair
Poor
At the end of the year show rooms personnel will fill the above list after analyzing the whole operations of business and after this feedback, management will become aware about the performance of the business.
Conclusion:
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