GROUP MEMBERS:

1. Name: - Nymul Islam Addin

ID: -2330229

2.Name:- Forhad Saimon

ID: -2330572

3.Name: Sohanur Rahman Khan Risan

ID: -1910180

4.Name: Mubtahsim Tahmid Hossain Nirab

ID: -2010553

5.Name: - Ponir Ahmed Hira

ID: - 2221149

SUBMITTED TO:
MS. Jesmin Mannan

A BUSINESS PLAN SUBMISSION DATE:

06th August, 2023

BUS201 SEC-04 SUMMER 2019

Business Name: Ashbaab. Com

Business logo
 LETTER OF TRANSMITTAL

06th August, 2023

To: Ms. Jesmin Mannan
Faculty of Bus201,
School of Business
Independent University Bangladesh (IUB)
Bashundhara R/A, Dhaka

Subject: Submission of Business Plan

Dear Ma’am,
With due respect, it is our pleasure and honor to be your students and have this opportunity to
present a business plan called Ashbaab.com. Ashbaab.com allows a user to rent furniture through
monthly pay system. While preparing the business plan we have given our best effort thoroughly on
the topic regarding this business, and we believe and hope that our plan will provide a clear
conception, and will appear as realistic as possible.

Though we are in the learning phase of our career, this plan has helped us gain sufficient
knowledge on running a business properly having proper financial, marketing, HR and operational
strategies. It is indeed a challenging and interesting experience

We are more than willing to answer any questions regarding this business plan, and clarify it fully
to your understanding. Thank you very much for all your support, which helped us significantly
in preparing this business plan.

Sincerely yours,
Group members of Ashbaab.com

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 ACKNOWLEDGEMENT

Our respected faculty, Ms. Jesmin Mannan deserves our greatest gratitude for giving us a solid
guide line throughout numerous consultations. She more than happily welcomed all our obstacles
and confusions regarding this business plan and acted as a silent backbone of this report. We are
extremely thankful to our honorable faculty who took great interest on our report and supported us
to the fullest. We also thank her for providing us with an opportunity to write a business plan on a
service which will solve the deficit of fuel for automobiles and the air pollution problem
immensely. This project has enriched our skills based on practical life business startup.

We would also like to expand our deepest gratitude to all those who have directly and indirectly
guided us in writing this assignment. Many people, especially our team members themselves,
have made valuable comments and suggestions on this proposal which gave us an inspiration to
improve our assignment by a large margin. We thank all the people for their help directly and
indirectly to complete our assignment.

Thank You.

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 TABLE OF CONTENT

SL No. Title Page No.

1 Executive Summary 5

2 Concept of Business 5

3 Management Team 6

4 Company Background 8

5 Service Description 9

6 SWOT Analysis 10

7 Goal 11

8 Legal Form of Ownership 11

9 Industry Analysis 12

10 PESTLE Analysis 13

11 Marketing Mix 15

12 Marketing Plan 16

13 Financial Statement 17

14 Conclusion 20

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 EXECUTIVE SUMMARY

Ashbaab.com is an online furniture rental service which provides furniture’s in very cheap price
and give rental furniture’s to the students who came to Dhaka for their admission or staying in a
house for 2 to 3 years. People get furniture rental service in very cheap. They will get all the
furniture’s in just 1000 taka per month.
Ashbaab.com continues to be premises on demand furniture rental provider of exceptional
convenient experience and seeks to make this experience more affordable and accessible to all
users. The hassle of buying furniture for few months or years is going to end. Our furniture rental
service will provide good quality furniture’s in a very cheap price. This service will provide
various strategies and tools that allows Ashbaab.com to maintain its position as the leader of the
online furniture rental service.

CONCEPT OF BUSINESS

Ashbaab.com is a different furniture company. We provide the urban citizens to live better today in their
homes, by giving them affordable furniture and home decor on rent. All of our furniture is easily
consumed. Our furniture is inspired by the middle-class urban user and students and how they live in their
homes. Our designs are user-led and inspired by their evolving needs and growing lifestyle. We don’t just
give furniture. We provide decor, accessories and appliances as well through a combo package in a
cheaper rate. So, with a simple click, one can furnish their entire home, room or corner without traversing
multiple stores or websites at a fraction of the time, effort and cost. All decor that we provide is brand
new, and make it reusable through a hygiene way. We also provide complimentary benefits like free
home delivery, free set up and relocation across cities, pausing of subscriptions and deep cleaning
services as a part of the subscription. In primary level, we are operating our services in Dhaka City only.

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 MANAGEMENT TEAM

Management will look after the entire operation setting future goals for our company. Tasks will be
divided and distributed to the different departments. We will recruit a strong management team so that
everything runs smoothly and efficiently. Top management will set future goals for our company and
secure the assets of our shareholders. Middle management will be to implement company strategy in the
most efficient way. Lower management will look after the staffs so that they can complete the tasks
efficiently.

CHEIF OF
HRM
Forhad Saimon & Sohanur
Rahman Khan Risan

CEO
&
HEAD OF
MARKETING
Nymul Islam Addin

COSTUMER SERVICE
MANAGER FINANCE
DIRECTOR
Ponir Ahmed Hira Mubtahsim Tahmid
Hossain Nirab

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CEO & HEAD OF MARKETING

Nymul Islam Addin

Overall responsible to run the company efficiently and carry out all management
functions, decision maker of all departments. Identify and eliminate risk, find new
opportunities and concept. Promotional campaign arrangements, marketing research
methods, innovative marketing strategies designing.

FINANCE DIRECTOR

Mubtahsim Tahmid Hossain Nirab

Prepare Budget, financial operations, banking, collection, and cash-flow and feasibility study for
new project analysis.

CHIEF OF HRM

Forhad Saimon & Sohanur Rahman Khan Risan

Responsible for workforce planning, advertisement for recruitment, interviewing and
selection. Handling buyers and factory owners, customers’ complaint, design &
initiate necessary corrective and preventive actions. Arrange customer’s feedback and
analyze them for further improvement.

COSTUMER SERVICE MANAGER

Ponir Ahmed Hira

Very good at dealing with costumers. Responsible and Sincere employee of our Company.

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 COMPANY BACKGROUND

Business type: Our business type is B2C which is Business to Consumer. We make opportunity
for consumers to have household furniture’s on rent.

Company’s vision: Ashbaab.com is built around the belief of making an easy and simple lifestyle
for mass people. We also want to reduce our impact on the environment. From searching for
recyclable materials to finding new methods for packaging that don’t rely on having new furniture
only for changing—one day—fully closing our production loop.

Company’s mission: We want people to have economical, dependable, an on-request efficient

furniture’s. We want the lower and middle-class people of our country to have a decent home. Our
business aims to furnish peoples home in cheap price.

The industry where the business is involved: As we are providing the service using internet, our
business is mainly involved in the e-commerce industry. It will require using the internet to contact us to
place an order for the desired furniture. Payment can be made through Bkash, cash or visa card.
Target Customers: Bachelor students. Office workers.
Basically, people who are under the age of 25. People who are flexible and understanding.

Company’s Comparative Advantages:

Low operating cost: The costs are comparatively low because of the cheap labor cost and raw
material availability
Very Few Competitors: We are launching a very new idea which is not so popular in our country.
So, technically we have no competitors in this industry.

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 SERVICE DESCRIPTION

What is Ashbaab.com?

Every year 2 lakhs students come to Dhaka city from other districts of Bangladesh. Half of them
come from middle class families. Those people come here in purpose of higher studies and for a
limited period. Maximum students usually buy furniture to live. Most of them become a burden
when the study time over.

We, the Ashbaab.com is the furniture rental platform in Bangladesh with the aim to improving
living standards without needing to spend a lot and also it has no commitments! You can simply pay
for as long as you use the furniture and change whenever you want to adapt to a new trend! We create
designed furniture for student, middle class & lower-class people. Our vision to improve people’s life
style with an affordable rate.
How Ashbaab.com works?

1. Choose: Choose your desire furniture from our website

2. Purchase: Pick your favorites from our high-quality Collections, add to your cart and
complete the checkout.
3. Verify Document: We will send you the checklist in 24 hours. Once you scan and send the
documents and pay the deposit, your order will be processed.
4. Deliver: We'll deliver your goods within 7 business days. Once the order is processed,
they cannot be cancelled.

Why should you rent?

With our furniture, complete with decor, and create your dream home today. Without waiting for
that elusive. Have everything, without buying, isn’t it amazing to live without any burden? Bed or
Amirah? It’s not a choice anymore. With our wallet-friendly Packages, you can have that perfect
home at a Fraction of the cost and effort. Change, as your taste evolve. Don't

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Compromise! You only Live on Swap as you feel to change. Move for free. Pause the rental or
stop it at your own will and pay only as Much as you use! Things you can never do if you buy
furniture.

SWOT ANALYSIS

Strength

• First attempt in our country to furnish homes of bachelors

• It’s easy to get
• It’s for all the lower income family which is the majority of our population
• Convenient
• Environment friendly

Weakness

• Not widely adopted

• New in our country
• Low profitable business
• Lack of customer trust

Opportunities

• Potential to be a successful business

• New field with many opportunities
• Potential to reduce unemployment rate
• Potential to save human resource(trees)
• Customers can save up money

Threats

• Environmental threats as we can’t protect our furniture from rain

• Unable to deliver to every part of our country
• Due to lack of customer trust, we can’t ensure the welfare of our furniture.

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 GOAL

Specific: Ashbaab.com will be able to approach a good number of consumers who will take
furniture from us by monthly rental condition. Most of them will be bachelor students who are
come from different district of county and studying most of the private universities.

Strategies and Tactics: We are providing some essential furniture for bachelor students and office
workers through a combo package. In this package we’ve included: 1 Bed, 1 Mattress, 1 Table, 1
Chair, 1 Table Fan, 1 Standing Rack. Since the administration is based on an internet, digital
marketing strategies and social media boosting are the main keys of our marketing plan.

LEGAL FORM OF OWNERSHIP

The legal form of ownership of this business would be partnership. The business would be
equally owned by 6 partners who has similar interests. As this business is considerably new to
the market, it would require more financial and human resources. As experienced people, the
knowledge of each individual would play a vital role in the business’s success. As more
individuals implies more money related assets, administration aptitudes and learning it'd be more
advantageous for the business over the long haul. With each partner investing the same amount,
we agreed on sharing the profits equally and having equal rights on the company. As each
individual has experience in different sectors of business, there won’t be any conflict of interest
and one can handle the sector he/she was involved in.

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 INDUSTRY ANALYSIS

The Internet has restructured the way the world does business on both a confined and global
Level. Whether it is to recruit employees for gathering statistics about the competition or to get
Feedback from the audiences, the means businesses utilize the internet are numerous. Today,
Communication is as easy as a mouse click and much cheaper too. Anyone in the world can
communicate with another person through text messages, emails, and even live video. For
Business, this means higher efficiency and quicker processing of sales. The Ashbaab.com allows
both students and tourist to rent furniture for couple of months or for a year.

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PESTLE ANALYSIS

PESTLE analysis is a useful tool for understanding market growth or decline, and such it can be
measured the position, potential and direction for a business.

PESTLE STANDS FOR:

Political, Economic, Social, Technological, Legal and Environmental factors which are used to
Access the market for a business or organizational unit.

POLITICAL FACTORS:

Political factors play a significant role in determining the factors that can impact Rent-company,
long term profitability in a country or market. Rent-company is operating in Rental Services
across the country and exposes itself to different types of political environment and political
system risks. The achieve success in such a dynamic Rental Services industry across the countries
is to diversify the systematic risks of political environment. Rent-company, can closely analyze
the following factors before entering or investing in a certain market-

• Political instability and importance of Rental Service sector in the country's economy
• Intellectual property protection
• Wage legislation - minimum wage and overtime
• Anti-trust laws related to Rental Services • Industrial safety regulations in the Services
sector.

ECONOMICAL FACTORS:

Bangladesh is mainly an agricultural economy. Agriculture is the single largest producing sector
of economy since it comprises about 30% of the country’s GDP and employing around 60% of
the total labor force. So, for this reason most of the families are poor. In Bangladesh per capital
income is USD 1, 438.

Rent Service Company is giving people furniture with very low price. This will help to increase
the economy of the country. Economic factors that Rent-company. Should consider are
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 • People can get service easily
• It’s cheaper
• Economic growth rate
• employment
• standard of living

SOCIAL FACTORS:
Society’s culture and way of doing things impact the culture of an organization in an environment.
Shared beliefs and attitudes of the population play a great role in how marketers at Rent -
company. Will understand the customers of a given market and how they design the marketing
message for Rental Services Company. Social factors that Rent Company should consider are

• How the society appreciate our service

• Culture (gender roles, social conventions etc.)
• Low in price
• Anyone can hire our service
• Student and tourist are our main customer

ENVIRONMENTAL FACTORS:
As it’s a furniture business, environment will play a vital part on this. Such as
• Using and Re-cycling of trees
• Lack of Raw materials in case of Natural Disasters
• Facing problem in having stock of furniture due to Rainy Sea

LEGAL FACTORS:

We have no legal factors to run this business.

TECHNOLOGICAL FACTORS:
We have no technological factors to run this business.
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 MARKETING MIX

As we are launching a very new idea, we can fix our price in any amount. But as our target
customers are from middle class and students, our pricing will be implied by setting a low
initial price in order to penetrate the market quickly and deeply to attract a large number of
costumers.

Price: Our service will provide reliable price for our consumers so that we can maintain a good
position in the market share with other furniture Companies. We will offer our services to the
market in a cheaper price than the competitors to attract more consumers and we'll provide top
notch customer care services so that we can build a good reputation in the market.

Place: Our goal is to start small and then expand gradually. We will first target Dhaka and
eventually spread to all the other divisions. We have a future plan of making our brand
International as well. We have a plan on expanding our business to other countries like
Australia & Malaysia where carpooling is very famous.

Product: We will build some furniture (bed, table) and buy other appliances (Mattresss, fan,
standing rack and chair) manually. We will launch a website and android application for our
services which will be designed & monitored by well-trained app developers and we'll make
sure it doesn't have any malwares or glitches. It will have a user-friendly interface with an
intuitive design. We will provide better services & impeccable customer care system to make
the consumers feel welcomed and appreciated.
Promotion:
• TV Advertising: To hire famous celebrities to endorse our brand and advertise it to attract
consumers
• Internet: we will put ads on social media platforms like Facebook, Instagram, YouTube etc.
• Newspaper and Magazine: We will post ads on the front page of various newspapers and
magazines.
• Billboard: we will use billboards near universities, colleges, offices and markets to
advertise our product.
• Posters: We can put interesting offers and holiday discounts or lottery offers on posters to
attract more consumers.

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 MARKETING PLAN

Market Segmentation

It helps the marketers define customer needs and wants precisely. Ashbaab.com mainly uses
geographic, demographic, and psychographic to capture the market.

Geographic segmentation: Dividing the market into different states, regions, or nations which
can impact the marketing mix of the product. Ashbaab.com focuses to target people from all ages.
Demographic segmentation: Separating the market with different age, income, education and
other demographic variables. Ashbaab.com could connect with almost all demographic
variables.

Psychographic segmentation: It is the market divided by people with group values, attitudes
and interests. People who want cheap and better-quality furniture are our segmented population.

Pricing Strategies

Pricing strategies for Ashbaab.com would be cheap and easily affordable. We are offering 1 Bed,
1 Mattress, 1 Table, 1 Chair, 1 Standing Rack and 1 Fan for 10,000 Taka (onetime payment).
The Monthly rent will be 1000 Taka. After finishing the contract, customer will return us the
product. On that time, we will return then 8000 Taka. If any damage happened by them, He/She
will pay us the full amount of that particular furniture.

Distribution Strategies

Ashbaab.com will expand its operation in large cities, coinciding with the objectives for the next
two years. We have also planned to make an app and expand the app reach to other platforms like
windows and android system.

Promotional Strategy

Promotions could be in social medias for e.g.: Facebook, Twitter, YouTube, Instagram and special
promotions word of mouth will make up the majority of Ashbaab.com's marketing
communication strategy.

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 FINANCIAL STATEMENT

The estimate financial amount to start total capital is 20,00,000 taka. Each person contributes 1
lakh taka each. Total people6 (5*1) = 5 lakh. Bank loan 5 lakh, need money from investor 10 lakh.

Asset Cost
Table 380 (380*40) = 15200/-
Chair 200 (200*40) = 8000/- 1600
Fan (1600*40) = 64000/- 3500+2000
Bed+Mattress (5500*40) = 220000/700
Standing Rack (700*40) = 28000/-

Total= 3,35,200/-
Other Cost Amount

(Yearly)
Website 5000/-
Marketing 20000/-

(Monthly) Amount
2 Security Guard 8000*2 = 16000/-
1 Cleaner 5000/-
1 Worker 5000/-
2 Labor 6000*2 = 12000/-
1 Supervisor 15000/-
Godown 8000/-
Electric Bills and Others 8000/-
Total 69,000/-

Capital 20,00,000
Asset 3,35,200
Costing 69,000

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People need to pay for
products:

Table 20
Chair 50
Fan 200
Bed 500
Standing Rack 230

Monthly rent 1000

Every Month income (30 set) 30*1000 = 30000
Every Year income 30000*12 = 3,60,000

Total Break-Even Point 5.5

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INCOME STATEMENT

Income Statement for the 1st year Amount Price Total

Table 40 1,200 48,000
Chair 40 800 32,000
Fan 40 3,500 1,40,000
Bed 40 5,200 20,80,000
Mattress 40 4,200 1,68,000
Standing Rack 40 1,300 52,000
TOTAL REVENUE 25,20,200
EXPENSES
Direct Costs
Materials 3,35,200
Wages 8,28,000
Total Direct Costs 11,63,200
General and Administration (G&A)
Accounting and Legal Fees 5,000
Advertising and Promotion 20,000
Total G&A 25,000
TOTAL EXPENSES 11,88,200
NET INCOME BEFORE INCOME TAXES 13,31,800
INCOME TAXES (25%) 3,32,950
NET INCOME 9,98,580

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 CONCLUSION
Ashbaab.com is a very promising service which is able to resolve plenty of today’s

problem. Student came for their admission test on study for few years in Dhaka, they

don’t have to buy furniture’s for short time. They can take rental furniture from us

which is totally affordable. They have to pay just 1000 taka per month for their

furniture’s, so that student’s or other people who can easily take rental furniture’s

from us. If this campaign successful, we will expect Aashbaab.com to continue and

improve the promotion to keep growing customer loyalty and increase sales.

Through our leadership and management skills we plan to give our customers the

absolute best quality furniture’s

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