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2012

MBA 5th semester morning


Insight !nstore
2/20/2012
Insight !nstore
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Interior design is the
process of shaping the
experience of interior
space, through the
manipulation of spatial
volume as well as
surface treatment. Not
to be confused with
interior decoration,
interior design draws
on aspects of
environmental
psychology,
architecture, product
design and furniture
design in addition to
traditional decoration.
An interior designer is a
person who is
considered a
professional in the field
of interior design or
one who designs
interiors as part of their
job.



Mission
We strive to help you identify your own style
and make your own decorating decisions. Our
aim is to offer you the supreme design and
decorating ideas so that you can choose
those details that best connect your personal
desire.



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Entrepreneurship (BUSINESS PLAN)

SUBMITTED TO
Sir Salman azhar

Group members
Athar Waqas 05(group leader)
Nazia Hameed 32
Fahad Sattar 18
Annum Safder 02
Zainab Ajmal 15
Somia Iqbal 36

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Project Introduction

Name of Venture:
Insight !nstore
Nature of Business:
Services business


Interior designers r people wh r meant t mk r surrounding grg.
Whether t home, hotel r corporate offices, th mk sure tht r corner
f particular l mt reveal th beauty f tht l. Er l h t wn
g nd requirements, nd therefore, interior designer hld meet those
requirements.
Fr occasion, whn interior designer designs home h needs t mk t cozy r
per th owners need nd f h designing fr corporate offices thn design mt
b sober nd hw th dedication f th office towards t work. Bt, m
interior designers r experts n thr respective area f interior. Fr example
thr r specialized hotel interior designer fr interiors f hotel r fr corporate
interiors. Though, few designers r ll rounder.



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Executive Summary

The project is basically of the interior designing and business of home decor. As the interior
designing describes aspects contribute in turning the interior space in to a setting that could be
more commendably used. An interior designer is the one who deals with these sorts of
projects, this profession comprise of conceptual development, coordinating with the customers
linked with the task and then finally the design implementation. The industry of interior design
is dependent upon creative ideas and multiple concepts while we may take the home designs,
Professional or others.
The future of interior designing business is very high, because we can analyze that at present
there are no. of housing societies in Bahawalpur City, hundreds of houses are under
construction and in future these houses would be decorated.
There are one or two competitors in Bahawalpur City regarding interior designing business, but
these competitors provide services of interior designing as secondary. Their primary businesses
is something else, like constructing building JAM BUILDERS is a major competitors, but they
have not specialized designer, or innovative thinkers, we have specialized designer and
innovative and creative employee, thats why we can compete our competitors easily. Demand
of interior designer in Bahawalpur is very high, because many housing societies are under
construction, due to globalization our society has been changed, people living standard
increase. They want beautiful and decorated houses. the income of people increases, so their
purchasing power also increase and people spend on beautiful and stylish furniture, decorated
rooms, increases in population can lead to increases in demand.

Insight instore provide most of the services of interior designing including residential and
commercial services also. We will work one on one with you to make sure you are completely
satisfied. We will provide u the best consultancy about our services. If you are decorating your
interior for the very first time and uncertain about the services to take so insight instore is the
perfect place for u to meet your internal ideas and merging it with creativeness with the
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guidance of our team to make you home look more beautiful. We provide you the platform to
transform your ideas in to reality with uniqueness amazingly done.
Further in this report its marketing and financial analysis is discussed. Its HRM strategies and
the number of employees required, cost of project, equipment etc is also mentioned in detail.


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INDUSTRY ANALYSIS

Future outlook and trends:

If we compare past with present, we can analyze that in past years there is no concept of
interior designing or designer. But now people are well aware regarding interior designing, and
give more importance to decorate their houses, offices, by specialized designer. Due to
globalization lifestyle of people has been changed. Increases in education level have great
impact on people life, people want unique design in their bedrooms, drawing room, kitchen,
child rooms, bathrooms, etc. Excess of internet, people are well aware about different and
stylish design for their houses.

The future of interior designing business is very high, because we can analyze that at
present there are no. of housing societies in Bahawalpur City, hundreds of houses are
under construction and in future these houses would be decorated.

The concept of joint family system is decreasing day by day, everyone wants their
separate house, and it would enhance interior design business in future.

The per capita income of people also increases, and people are willing to spend on
stylish furniture, and beautiful decorated bedrooms, kitchen, etc

Increases in population means increases in number of houses can lead to increase in
business of interior designing.

There is also a concept of showing his wealth in our environment, if u spend 100 rupees
on decoration or anything else, the other person spend 200 rupees,
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Analysis of competitors:

There are one or two competitors in Bahawalpur City regarding interior designing business, but
these competitors provide services of interior designing as secondary. Their primary businesses
is something else, like constructing building JAM BUILDERS is a major competitors, but they
have not specialized designer, or innovative thinkers, we have specialized designer and
innovative and creative employee, thats why we can compete our competitors easily.

Five portal forces in analysis of competitors,

Threat of new entrance:

The entry barriers in this type of business are not very high, it is moderate, and any one with
an aesthetic eye easily starts this business. Access to vendors in this business is not a big issue,
because any one provides these services, but reality is that there is less chances of new
entrance, because there is no other interior designer specialist in Bahawalpur. People have no
focus regarding this type of businesses. We have a specialized designer, who has great
innovative and creative ideas, we can provide services according to our clients personality, we
use imported and good quality material.

Level of competition:

There is low competition in the market. Because there is no other full time interior designing
business in the market, the existing designer provide simple focused services.but we provide
unique and innovative design.we have contract with owners of housing societies and we can
provide discount to customer of those societies.


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Bargaining power of customer:

Bargaining power of customer is moderate, because interior designing is not basic necessity of
customer. People want to decorate their houses. And they are not willing to pay very huge
amount on decoration. we can provide reasonable prices of middle class families, We used
imported and high quality raw material and satisfied our customer.our targeted market is
upper class families, who spend their life with luxuries and unique product.

Bargaining power of suppliers:

Bargaining power of supplier is very high, because we use imported material, and only few
supplier provide this, that why they demand high prices,in start we purchased from suppliers
but after few years we can import raw material directly to reduce our cost.

Threat of substitute:

There is no. of substitute available in the market regardless training,and certification.there is
no. of small self made interior designer in our society. Who provide these services, but Insight
!nstore provide quality products and unique design for their customer, these stylish and
imported design and material can not be available in the market.

Demand and supply analysis:

Demand analysis:
Demand of interior designer in Bahawalpur is very high, because many housing societies are
under construction, due to globalization our society has been changed, people living standard
increase. They want beautiful and decorated houses. the income of people increases, so their
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purchasing power also increase and people spend on beautiful and stylish furniture, decorated
rooms, increases in population can lead to increases in demand,

Supply analysis:

According to demand of interior designing , supply is very low, only one or two local businesses
provide interior designing services, but they have not specialized designer.industry size is very
large and this size increase more in near future, because hundred of houses under construction
and population growth ratio is high.

Market segmentation:

We can segmented our market on demographic basis, geographical basis.
We segment the market on income and location basis, there are hundred of people who are
educated and having handsome salary, thousand of people are business man and their income
exceed 500,000 per month, there is also a landlord in Bahawalpur who are uneducated but they
have well aware about lifestyle. they want interior design services to decorate their houses.
we segment our market on location basis, Model town A, Hashmi guardan, commercial area,
cantt, upper class families live their, their standard of living is very high, upper class families is
our targeted market.

STRENGTHS
Specialized designer
Strong relationship with supplier
Good relationship with architect
Contract with owner of housing societies
Highly qualified staff
Little competition locally
Provide discount to existing customer
Excellent customer services
Special product features or benefits
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Specialized knowledge and skills.
Excess of capital



WEAKNESS

Not many samples to show clients
No availability of website
Not much publicity material
Not established in the market where number of designer exist




OPPORTUNITIES


Have a website designed
Learn to up-load own materials
New clients in wider geographic area
Increased demand in future
Using the internet to reach new markets
New technologies that allow us to improve product quality.
Construction of new houses is opportunity to expand our business.
Changes in design trend initiate home updating, generate sales.




THREATS


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New competitors
A downturn in the economy, reducing overall demand
More attractive or cheaper material available in the market
Competitive industry
Economic decline reduces disposable income.


Action plan for success

Communicate with our client through personalized communication techniques and
websites.
Retain client by providing discount offer to generate sales.
To overcome our weakness, by making website, people can easily access of latest and
uniques stylish design,
We can differentiate between cheaper and quality product.
Used day to day latest technology.
Innovative design with minimum cost,
By create positioning and goodwill in mind of customer


Business environment:

To successful understanding of interior design business, we should identify the threat and
opportunities associated with interior design business. We did the pestle analysis of interior
design business in our society.
Political factors:

Political: (includes legal and regulatory): elections, employment law, consumer protection,
environmental regulations, industry-specific regulations, competitive regulations, inter-country
relationships/attitudes, war, terrorism, political trends, governmental leadership, taxes, and
government structures

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Economical:: economic growth trends (various countries), taxation, government spending
levels, disposable income, job growth/unemployment, exchange rates, tariffs, inflation,
consumer confidence index, import/export ratios, and production levels.Economic: rising
incomes and lower interest rates have meant that people have more disposable income to
spend on luxuries like long distance air travel


Social: demographics (age, gender, race, family size, etc.), lifestyle changes, population
shifts, education, trends, fads, diversity, immigration/emigration, health, living standards,
housing trends, fashion, attitudes to work, leisure activities, occupations, and earning capacity

Social: increased popularity of holidays abroad has led to a boom in demand for air travel.

Technological: new discoveries and invention helpful for interior designing
business.information technology like internet increase the living standard of people and people
inventions, new discoveries, research, energy uses/sources/fuels, communications, rates of
obsolescence, health (pharmaceutical, equipment, etc.),manufacturing advances, information
technology, internet, transportation, bio-tech, genetics, agri-tech, waste removal/recycling, and
so on


Threat of substitute product or services: Threat of substitute product or services is not
so high in Interior Design Company because it is purely based on the taste and choice
preferences. There are n numbers of substitute products available in the items of design part
but the first preferences which are given to choice and quality. If both the things are available
then there is no mean of getting into another interior design company.

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Description of venture
The project is basically of the interior designing and business of home decor. As the interior
designing describes aspects contribute in turning the interior space in to a setting that could be
more commendably used. An interior designer is the one who deals with these sorts of
projects, this profession comprise of conceptual development, coordinating with the customers
linked with the task and then finally the design implementation. The industry of interior design
is dependent upon creative ideas and multiple concepts while we may take the home designs,
Professional or others.
Insight instore is a place where you can find a way to uniquely identify your home, from simply
an idea to the execution of it. Our interior decorators are the ultimate clarification for the
questions arising in the customers mind.
The first question arise are you decorating your new house or your office or redecorating It?
Think of designers who do the whole work in the way u want and make you feel pleasant? So
here is a way out the insight instore will do all this for you the situation of the customer will be
understood according t their budget range and wants regarding the dcor meetings will be
done, everything will be discussed in detail including the major aspects like space, the changes
customer want so the everything myst be clear at both ends to give a satisfied output.
Mission statement:






We strive to help you identify your own style
and make your own decorating decisions. Our
aim is to offer you the supreme design and
decorating ideas so that you can choose those
details that best connect your personal desire.

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Services:
Insight instore provide most of the services of interior designing including residential and
commercial services also. We will work one on one with you to make sure you are completely
satisfied. We will provide u the best consultancy about our services. If you are decorating your
interior for the very first time and uncertain about the services to take so insight instore is the
perfect place for u to meet your internal ideas and merging it with creativeness with the
guidance of our team to make you home look mire beautiful. We provide you the platform to
transform your ideas in to reality with uniqueness amazingly done. If u wants to redecorate
your interior and dont have such ideas or tricks in mind dont worry insight instore is now in
Bahawalpur to facilitate you and reshape your life by giving a new look to your house or place.
We will provide you the ideas and tricks and guide you to the direction which most suits your
budget and demand,utilizing your less cost and making you free from frustration.

Insight instore had contracted with different top furniture manufacturing companies in Pakistan
to provide the best of best product. Our services my include the wall ceilings, fancy lights, doors
and much more.

The pleasant atmosphere always play a part in work being done over there so if you are bored
or feeling some stress get up this is the time to redecorate or redesign your living space. Our
collection of services in residential is consisting bedroom, living room, dining room, TV lounge
and kitchen. Commercial sector and others.Insight insore will provide the customers unique and
different ideas of home decor and interior designing. Different themes and designs are worked
out to facilitate the needs and wants of our customers. Our target market is the upper class of
Bahawalpur and army officers as they are much conscious to maintain or high light their status
or living standard. The service includes all the interior designing of a room or a home
comprising of painting the walls, curtains or furniture.
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Residential
Residential design is the design of the interior of private residences. As this type design is very
specific for individual situations the needs and wants of the individual are paramount in this
area of Interior Design. We may work on the project from the initial planning stage or may work
on the remodeling of an existing structure.
Commercial
Commercial design encompasses a wide range of sub specialties.
Retail: includes malls and shopping centres, department stores, specialty stores, visual
merchandising and showrooms.
Visual and Spatial Branding: The use of space as a media to express the Corporate Brand
Corporate: office design for any kind of business
Healthcare: the design of hospitals, assisted living facilities, medical offices, dentist
offices, psychiatric facilities, laboratories, medical specialist facilities
Hospitality and Recreation: includes hotels, motels, resorts, cafes, bars, restaurants,
health clubs and spas, etc
Institutional: government offices, financial institutions (banks and credit unions), schools
and universities, religious facilities, etc
Industrial facilities: manufacturing and training facilities as well as import and export
facilities.
Other
Other areas of specialization include museum and exhibition design, event design (including
ceremonies, conventions and concerts), theatre and performance design, production design for
film and television.
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We will enable our clients with delicately manufactured furniture that is worthy of becoming a
part of your home. We will equip your home with affordable furniture according to your needs
as Home furniture is an extension of your character, so it's very significant that you get the right
furniture for your home and insight instore is the right place to achieve it.
In home dcor our range includes crystal and antique lights, wall brackets, mirror lights, garden
and outdoor lights, ceiling mounts, halogen lamps, lampshades, table lamps and pedestals
.Beautiful Fancy Lights plays vital role in interior decoration. It enhances the view of the home.
The simple act of changing can breathe new life into your home, so why not give it a try. Insight
instore is perfect in the art of employing the change for achieving desire effects.

About entrepreneurs:
Name Designation Qualification and educational
background
SomiaIqbal Managing Director MBA/ Interior Designer/
Photographer
Nazia Hammed Project Manager Interior Designer, MBA,
Masters in fine arts
AtharWaqas Financial manager MBA(Finance),Interior
Designer
Annum Safder Gill Interior Designer Diploma in Interior Designing
from Germany
IrumAjmal Interior Designer Designer from NCA, Lahore
FahadSattar Interior Designer/ Architect Architect and designing from
Australian university of fine
arts

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All the team of insight instore is having expertise in their own fields and they jointly work on a
project to achieve growth and satisfy their customers. The designers play a significant role in a
venture.
Size and location:
The proposed location of project is in Model Town in Bahawalpur. An office can be rented out
in any of this location. The rent for an office in the proposed areas is estimated at Rs. 40,000
per month. The office would be designed with a view to getting business venture up and
running in the shortest possible time and money, all the modern conveniences for working
environment would be encompasses. These dedicated premises provide a comfortable working
environment for whole team members.

Office equipments:
The basic need in office equipments are laptops which will cost almost 3 lac, air conditioners,
furniture and its setting will cost 5 lac. That is one time cost. Others include stationary.

Labor /work force
Labor is variable (transportation, equipment and furniture carrying, painting, packing and
unpacking, electrician and etc.) it vary with the project but weat least need five to fifteen
workers to complete your project easily.


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Service plan
Our Preferences
In todays world, customers are looking for products that suit their purpose best in terms of
price, features, quality and appearance. We will identify hidden values of our client and will
think more accurately about their worth before signing a project. We will give our customers a
value-added experience.
In our business the preference is Customer First refers to making customers the central focus
of all decision making, project design, and selection of themes, furniture, fabrics etc, and
execution of project.
We will provide products that best meet their needs in terms of price, features, quality
and appearance.
We remain consistently in touch with our customer till the project will complete.
Know your customer and predict their needs before they ask the question.
Different themes and products to meet different customer needs.
We definitely will simplify the process for our customer.
Add value through innovation and incentives. Such as use of existing material, etc..
We will deliver something which goes beyond the customers basic expectations.
Our points of differentiation offer these qualities:
A unique client experience from a trained and professional interior designer that is
qualified and capable of meeting the needs of clients with high expectations.
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Access to a wide and unique selection of new and antique furniture, accessories, and
special-order decorator fabrics.
Personal assistance from a complementary product offering, including hard-covering
window treatment, hardware, and home accessories that fit the look and objectives of
each project.
The culture of Cholistan and Bahawalpur will be promoted.
How will we charge for our services?
Flat Design Fee:
We will charge depending on the layout plan, period necessary, and service scope.
Price In addition Method:
A set percentage upon almost all items bought and solutions delivered.
Blended Technique:
Your client pays equally a collection percentage upon buys and a foundation design fee
for on an hourly basis fee Per sq . ft .: This method is utilized particularly in brand new
construction.

Products available through Inside in store Interiors include:

Furniture available through special purchase arrangements with mentioned suppliers
A selection of decorator fabrics
Accessory and art pieces
Window treatment products including a variety of hard window coverings.
Interior shutters made of wood and a plastic/resin product called "polywood."
Antiques acquired for specific client needs through an arrangement with a local antique
buyer and through direct purchases through other sources.
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Areas of Services in Interior Design Projects
Space Planning / Square Footage Optimization
Color Analysis
Design detailing
Theme & Concept Development
Image & Brand Identity Development
Concept design
Professional Project Management
Budget Development
Service process
Our service process will be start with understanding customer need and requirement
this will be done trough a meeting with customer and by guiding the customer towards
the best solution of their problem if the customer does not exactly know himself that
what suits her or him.
After collecting all information regarding customer requirement the project will be
discussed with the designers, project manager, and all members and it will be make
sured that all the required inputs are available and within the time duration
A final draft and project plan will be made which describes the timing of order releases
and receipts of required material, schedule of all activities and procedure, the desired
theme of the customer, the cost and proposed execution process..etc
The draft will be discussed with the customer and desired changes will be made with
mutual consent
A Portfolio will be made which will include
o First, established and agreed aims of the project - large or small - aims must be
defined and agreed with the executive budget-holder
o Needs and requirements of customer,
o Nature of the client.
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o The timing and size of project.
o The specific theme and customized changes if any required by customer.(vary
project to project)
o Determine a budget, and decided timescales and chief outcomes/results
required.
o Decide the level of innovation required
o Write an outline or specification of project. Ensure interested affected people
are aware and are in agreement.
o Define a team or supplier specification - have a clear idea of the qualities and
scale and style that will be appropriate for the project.
o For all projects it will be ensured that proper legal documentation and processes
are clear, agreement about the use of ideas, intellectual property and copyright
ownership - clarify any areas of doubt and potential misunderstanding.
o Mention all agreed responsibilities of peoples and partners include in the project
, ask people what they are good at and what they prefer to be doing within the
project
o Develop and agree a detailed project plan - the plan includes the tools you will
use for managing and communicating - the bigger the project, the more input is
required
o For all projects we must ensure connections and understanding between design
and implementation, whatever that entails. Your job is to ensure that the
connections between design and implementation.
o The steps of execution of plan (vary project to project)
o The payment process
o Communicate and explain the plans to all involved and seek agreement - clarify
expectations
o Ensure plans and forecasts are kept up to date and communicated. Provide
information and progress reports to all concerned peoples- do not wait to be
asked
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o Finally, always remember to give good positive feedback and thanks to creative
people and staff this provides the best platform for success.
After that the plan will be executed. Some points describing execution process are:
Finalize all schemes and decorative treatment
Prepare design drawings needed for custom furniture and any interior details.
Finalize and prepare specification of all approved selection.
Prepare budget costs.
During Progress of work Review all working drawings, specifications, and finished
schedules.
Supervise all decorative work in field. Inspect all installations at job site.
For the facilitation of customer as well as for innovation we have many incentives such
as use of old material in designing. (see annexure),less space techniques i.e. small rooms
designing.
We will maintain record of our clients so that it can be used in future for decision making. If
more than one project will come at a time even then all designers will participate in designing
and execution process as the quality will not be compromised.
Things to inquire on the first meeting with client:
In order to determine the inside designers portfolio, bear in mind that the designs reflect other
peoples tastes, certainly not the decorators, we will schedule a meeting with the client and
will inquire some questions
To whom is the room getting designed?
Just what activities is going to take devote the space?
How long are you planning to occupy the space?
What exactly is your time and effort framework regarding finishing the particular task?
What exactly is your budget?
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Have you been moving or redesigning?
Request a set of references. If any.
What will be your payment pattern?
Exactly what picture do you want to project?
What colures, design, and also effects would you just like?
What exactly are the goals and lifestyle needs?
What is the approximate size being created?

Establish the aims of the design project
Be clear first what is the aim and purpose of the design project? What are the outcomes
required? It's all too easy to lose sight of the original purpose of any design project unless it is
properly established, quantified, agreed and recorded. So we will use following criteria to
decide the aim and purpose of project before starting it
Specific (a clear written description of what is intended or required, the outcome
needed - the basic aim of the exercise)
Measurable (quantify every aspect that is fixed, especially budgets, scale of application,
Agreed (with all and interested/affected parties)
Realistic (even highly conceptual projects need to have a realistic intention or the
project is inherently flawed)
Time bound (proper start and finish timescales, ideally with milestones (check-points)
and measures along the way)
Ethical (if you build ethics in from the start you provide a valuable reference point to
maintain integrity)
Recorded (write everything down; it's essential for clarification, agreement,
management and control)
Space Plan Optimization
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We can help our customer in determining the appropriate square footage necessary to run
their business. We can help you evaluate spaces you are considering leasing or purchasing for
your business. A floor plan determines what size space you should be looking for before you
begin your search for the right property.
Color Scheme Development
Color has a great impact on our emotions and our working habits. Colors are extremely
important in a hospitality, office or retail setting. Determining the best color scheme for you
business is not an easy task.
We also have separate charges for each individual aspect of the design process. Giving the client the
flexibility to select which services are most appropriate and affordable.
MARKETING PLAN

Vision
In our upscale market we have chosen a path to become an interior designer of choice! Our
vision is to improve our business at every level of providing best services to our customers.
Satisfaction of customer is our prior goal.

Purpose
One of the tough businesses is interior designing that has many unkept promises. We will turn
out to be identified, the most principled service contributors in our industry and in business. All
pronouncements we formulate will be infused with our core ethics.

Core Strategy
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We want to be considered as the most exclusive options, but also worth it. We will be at top
row of interior designer contractors in town, who are competing for prestigious work and
reputation.

Positioning Goal
We intend to be the observable interior designers preference for high class homeowners who
value that as we cost extra than others, we're worth it .

Core Branding Elements
We have professionally designed logo. Our brand identity walks a fine line between rich and
sensible, Expensive but valuable.
Logo
Our Logo propels the message of luxury & colors of life people may have.


Market Needs
Insight !nstore provides its clients the opportunity to create a home environment to express
who they are. They have a choice to actively participate in the design, feel and look of their
home. They desire their home to be personal, unique and tasteful as well as communicate a
message what is important to them.
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Target Market
The target market is separated into four segments: high class house owners of Model town,
Cant area, Hashmi Garden & surrounding and business class (banks, shopping malls, offices etc).
The primary marketing opportunity is selling to these well defined and accessible target
market segments that focuses on investing discretionary income in these areas

Positioning
Customers will be impressed with, and return for, the great in-stock selection, value-oriented
pricing, For the person creating a modified and unique impression of her home, Insight !nstore
is the best local source for selection and price points of the fabric, customer-oriented design
services, and a variety of other home accessory and furniture products and excellent customer
service. Insight !nstore is a pleasant and tasteful resource that encourages everyone in the
process of decorating their home. Unlike employing an interior decorator, Interior Views allows
the individual to participate in their design choices to the extent they choose, and realize
greater value for the money they invest.
Price
Pricing is based on offering high value to our customers compared to most price points in the
market. Value is determined based on the best quality available, convenience, and timeliness in
acquiring the products that we used in designing. We will consistently be below the price points
offered through interior designers and consistently above prices offered through the
warehouse/seconds retail stores, but we will offer better quality and selection.
Promotion
The most successful advertising and promotion has been through the following:
Newspaper Advertisements :
Local news papers are one of the source used for advertising, it will help to convey our
message to most of the local society.
Television Advertisements :
Promotion advertisements are run on Local cabel network. The purpose of using this
source is that people are mostly attracted towards television and
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Bill boards
Due to low investment at initial stage we have acquire a single bill board but at a most
commercial place.
Pamphlets
A huge amount of pamphlets are circulated throughout the town.
Social Networking
We will initiate several helpful community features. We will host a interior designing
forum on our site where readers can come and ask questions and receive designing
advice. We will also create a customer-only section of our website where customer
projects will be featured along with the ability to network with other customers
Distribution
Our primary method of distribution is trough direct sale basis for each individual and client

Marketing budget
Our goal is to spend approximately 1% of our forecast sales revenue in marketing expenses.
This is perhaps optimistic. The following table shows a general listing of anticipated recurring
expenses. Additional funds are earmarked for special events, unspecified activities and new
strategies and tactics.
Initial cost of marketing is estimated to be Rs.200,000
Bill board Rs.100,000
Television Advertisement Rs.500,00
Pamphlets Rs.30,000
News paper Rs. 20,000
Total Rs. 200,000


Marketing Organization

Our marketing organization starts with our VP of marketing. This function is the central hub of
all marketing activity and lead funneling. She fields all inquiries and assigns leads to designers.
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Designers convert leads and determine the scope of the project with project managers and act
as single sales contact throughout the project. Weekly marketing meetings assess progress on
all leads and projects. Monthly marketing meetings function as training and education on all
marketing initiative opportunities.


Marketing Calendar

Initial- high expense in marketing strategy

Daily - hand-written notes, follow-up calls, customer contact

Weekly - review leads

Monthly - new marketing initiative

Organizational Plan

Form of ownership
Ather Waqas, Fahad Sattar, Annum Gill, Nazia Hameed, Somia Iqbal and Irum Ajmal are the
initiators and proprietors of insight !nstrore. Ather waqas did MBA (Finance) from the Islamia
University of Bahawalpur, Fahad Sattar did Architect and designing from Australian university of
fine arts, Annum Gill did Diploma in Interior Designing from Germany, After working for three
years at a prestigious interior design firm in Portland, she moved to Lahore in 2010 and began
working with TALENT AND TASTE, a well-established interior designing firm, Irum Ajmal
Designer from NCA, Lahore, worked with the architects in the interior design needs for
their projects in Islamabad and Somia Iqbal did MBA, Interior Designer, Photography diplomas.
During this time, she has developed relationships with a number of community, professional,
and supplier contacts. Anum plans to leave the firm on favorable terms at the end of the year.
With her new role at TALENT AND TASTE Interiors, later on she met with her old fellows and
peers and suggested to start a partnership business where they all oversee all aspects of the
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design process and all business operations. Their responsibilities include all aspects of
establishing the business, marketing, buying, bookkeeping and financial dealings for designing
interior of Bahawalpur community. All these six partners have equal share in business and have
equal profit sharing ratios as well as equal rights in decision making.

Organizational Structure
The structure of the organization is uni-dimensional. Six partners, all employees and
professional contacts, and will be interfacing with all these activities. Anum Gill, Fahad Sattar
and Irum Ajmal will determine project planning of interior decoration with project manager
Nazia Hameed and Ather Waqas will focus resources requirements and monitor expenses for all
aspects of the firm. Somia Iqbal will focus promotion of business and monitor whole business
activities.

Personnel Plan
Above mentioned six partners will work without employees in existing stage. Office boy at Rs.
7000 per month will be hired. Contract labor will be require for carriage, fabrication and paint
purposes, some skilled labor may also required like plumber, carpenter and electrician but that
will be integrated in the cost of good for each client's plan.

Roles and responsibilities of members of organization
Managing Director: (Somia Iqbal)
Placement
The Managing Director is accountable for increasing and preserves a profitable office. This
consist of organizing the finance, design, human resources and technical functions of the office
in a way that is consistent with organizational broad standards and objectives, as well as
contributing to both office and organizational broad promotion and business expansion
goals. Prolonged evidence in interior design is required.
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Roles & Responsibilities
Design: Provides design direction.
Financial: Monitors financial performance and makes required adjustments to meet or
exceed profit goals for the office. Establishes short and long term objectives for sales,
profit, productivity and expense reduction. Ensures that objectives are consistent with
corporate goals and priorities.
Human Resources: Determines staffing requirements and ensures the proper utilization
of staff. Hires, trains, develop and manage staff. Develops and communicates a vision
for the office. Fosters an environment of open communication and mutual respect.
Develops and promotes strong relationships within the office and throughout the firm.
Marketing/Business Development: Directs the business development activities of the
office by staying abreast of current trends and practices in the marketplace. Increases
the firm's profile and develops marketing and business development opportunities by
participating in and assuming leadership roles in industry and community organizations.
Expands and nurtures long-term client associations.
Financial manager: (Ather Waqas)
Role and Responsibilities
Ensure all current finance systems are appropriate for the business to facilitate detailed
analysis of revenues and costs.
Develop new systems and procedures where necessary.
Prepare and report monthly results to the Management Team, weekly to the MD, with
annotations and analysis on variations to budget and projections
Act as the main point of contact to external auditors and provide all required
information.
Monitor work-in-progress and proposals and contracts to ensure appropriate margin
levels
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Recommend changes that will improve the company's financial performance and
financial controls.
Prepare annual budgets and plans
With support from the MD, devise and implement a regular (at least weekly) reporting
system for members of staff (designers, project managers). Present financial data
clearly, to improve the staffs understanding of divisional, project and individual
performance, thereby helping them to gain a better understanding of the issues they
face and help ensure jobs are delivered to budget and schedule
supervise posting of all purchase invoices to the sales ledger
Ensure that approved client costs are invoiced punctually and the relevant deposit is
obtained
Maintain fixed asset register
Maintain Stock register
Cash flow forecast and reporting to MD weekly
Monitor all job costs while the work is in progress and alert appropriate person if costs
are running over
Project Manager: (Nazia Hameed)
Interior design is a multifaceted occupation in which innovative and technical solutions are
applied within a structure to achieve a built environment. These solutions are functional,
enhance the quality of life and culture of the dwellers, and are aesthetically attractive. merely
put, an interior design project manager is one who is hired either by a client or architecture
firm that meet the customers needs and budgets in a functional and aesthetically pleasing
manner.
Ultimate goals of interior design for an interior design project manager
Ensure the health, safety, and welfare of all of those who will or may occupy the
space, so the services offered all revolve around the mission of the interior design
practice itself.
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Such services or responsibilities and duties include defining the scope of work desired
by the client: planning and design
working through programming: workflow, strategic plan, schedule, budget
schematic services: dialogue of design solutions including drawings, material samples,
budgets, and product mock-up
design development: finalizing drawings and specifications of architectural plans
construction documents: interface with other trade professionals and consultants
construction administration: ensuring asbuilt or as recorded design and
specifications are documented, punch lists are completed and final authorization of
payments are administered
(Other duties may be assigned due to situational impacts)
Interior Designers: (Annum Gill, Irum Ajmal and Fahad Sattar)
Roles and Duties:
Interior Designers improve interior spaces to meet the needs and preferences of those
spaces' inhabitants. While Interior Designers may work on a wide variety of buildings, their
job duties are usually the same. They analyze clients' needs, create plans and specifications
and make sure that a project is finished in accordance with the timeline and budget.
Interior Designers improve the look, usage and safety of interior spaces.
Their main purpose is to meet the needs of the occupants by enhancing all aspects of
the space, including color, lighting, textures, furniture and the spatial relationships.
Interior Designers work on the interior spaces of all kinds of buildings, including
homes, offices, hospitals, shopping malls, restaurants and theaters. However, their
duties are similar from project to project.
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Assessing a Client's Need:
Interior Designers meet with their client to examine the space and understand the
client's preferences and budget constraints.

Creating a Plan and Specifications:
Interior Designer creates a design plan, often using computer-aided design (CAD)
software. This plan is usually developed in conjunction with the client, who is shown
drawings and product samples for approval. After a rough design is agreed upon, the
Interior Designer estimates the costs, and specifications are drawn for the required
furniture, flooring, artwork and lighting. A project timeline is also created at this point.
Ensuring that the Work is completed on Time and On Budget:
Finally, an Interior Designer oversees the implementation of the design, making sure
that the timeline is met and costs are kept within budget. After the project is finished,
the Interior Designer meets with the clients to make sure that they are happy with the
work or need some amendments.
Three typical stages of the design process explained
All of the above duties, responsibilities, and services are summed up into four specific aspects
that include detailing of design intent, constraints, constuctionability, and function and are
incorporated into three typical stages of the design process.
The first phase previously summarized is the preproduction design. This phase is inclusive of
the initial planning by the interior design project manager to review and analyze the design
goals of the client. Much research and development goes into this phase for the project
manager of successful and similar past projects, specification creation, risk solving, and
presentation of design solutions.
The second phase is design during production. This phase encompasses the executing and
monitoring of the project management processes. Here is where the interior design project
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manager bases design goals with continuation for improvement of proposed designed solutions
and testing them for accuracy of safety, health, and welfare in accordance with function,
aesthetics, and constuctionability.
The third and final phase is postproduction design. This phase is comprehensive of the
monitoring and closing processes of project management. The design solution is introduced to
the environment and the interior design project manager improves or changes the design
solution if required, to meet or exceed the client expectations. In this stage, the project
manager also makes a summary of the processes in an evaluation and develops a conclusion of
the results of the projects completion and duration.
Performance Dimensions: Task performance is the Activity that performs raw materials into
the goods and services that are produced by the organization. It may the help with the
transformation process by refilling the supply of raw materials, distributing its finished
products, or providing important planning, coordination, supervising, or staff functions that
enable it to function effectively and efficiently. Contextual performance is defined as those
behaviors that contribute to the organizations effectiveness by providing a good environment
in which task performance can occur. Persisting with enthusiasm and exerting extra effort as
necessary to complete ones own task activities successfully. Volunteering carry out task
activities that are not formally part of job. Helping and cooperating with others. Following
organizational rules and procedures. Endorsing, supporting, defending organizational
objectives. Both will be considered.
These two approaches well use as the performance evaluation. Trait approaches: Emphasize
the individual performer and ignores the specific situation, behaviors, and results. These can
include abilities such as cognitive abilities or personality. Results approach: Workers are skilled
in the needed behaviors. Behaviors and results are obviously related. Results show consistent
improvement over time. There are many ways to do the job right.
While the feedback system that we will adopt is 360-degree feedback system has become a
preferred tool for helping employees, particularly those in supervisory role. These systems are
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called 360-degree because information is gathered from individuals all around the employee.
360-degree feedback system report usually includes information on dimensions for which there
is agreement that further development is needed. 360-degree feedback system is most helpful
when it is used for developmental purposes only and not for administrative purpose.
Advantages of 360-degree feedback
reduce options of biases
Increased awareness of expectations
Increased commitment to improve
Improve self-perceptions of performance
Improvement of performance
Reduction of un discussable
help employees take control of their careers
Management team
All team members must evaluate one anothers performance as well as the performance of the
team overall. Peer evaluations are a key component of the assessment stage because they lead
to higher levels of workload sharing, cooperation, and performance. Team performance as a
whole can be measured using the following four performance dimensions:
Effectiveness
Efficiency
Learning and growth
Team member satisfaction




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PROJECT PROFILE

Land Requirement
It is recommended to start project in a rented place. The approximately covered area required
2000 sq/ft. This space should be available in Model town at around Rs.40, 000 per month.
Division of area will be as:

Area Requirements
Detail Area in Sq. Yd
MD office 400
Hall 700
Reception area 300
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Meeting Room 400
Ancillaries 200

Recommended mode
One recommendation is to acquire office on rent.

Utilities Requirements
Water Commercial connection
Telephone-2 lines, one for fax, one for internet and for telephone usage
Electricity 3 phase commercial connection
Internet facilit

Time Schedule
Time required for establishing a set up is two to three months. Project could be started
immediately by taking a single project in beginning. Afterwards a team can be developed and
more projects can be targeted and achieved.

Suitable Location
Well developed or under developed new societies in big cities would be suitable choice for
setting up an office due to greater potential of getting clients. Raw material, infrastructure
facilities, etc. would also be easily available in new housing societies. The project location is
an important element for the viability of the project and must have the following silent
features.
Considerable area availability
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Easy excess to roads
Availability of raw material
Infrastructure facilities
Availability of labor force
Close to existing firms
Near new societies

HUMAN RESOURCE REQUIREMENT
Availability & Management of Human Resource
The chief executive officer (CEO) shall formulate the long-term policies and take strategic
decisions. A team of professionals shall be engaged in order to manage the operational affairs
of this project under the supervision of CEO.
Technical Know-How
Staff required with appropriate experience should have creative ability and aesthetic sense.
Training facility for fresh qualified persons will help to fulfill human capital needs.


FINANCIAL PROJECTIONS

Project Cost

Description PKR
Furniture & Fixture 500,000
Office Equipment 300,000
Pre-operating Expenses 10, 00,000
Initial Working Capital 200,000
Total Project Cost 20, 00,000

FINANCIAL PLAN
Capital 60.00% 12, 00,000
Long term loan 40.00% 800,000
Total Funds 20, 00,000

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FINANCIAL ANALYSIS
Payback Period 3.61Years
IRR 34.49%



Projected Income Statement

YEAR 1 2 3

Revenue 925000 1010000 11,11 000
Less Cost of Services 480000 480000 470000
Gross Profit / (Loss) 445000 530000 641000
Operating Expenses
Admin& Selling Expenses 200000 30000 100000
Financial Charges 112000 88000 60000
Total Expenses 312000 118000 100000
Profit before Taxation 133000 412000 541000
Income tax 26600 82400 108200
Net Profit after Tax 106400 329600 432000




Balance Sheet

CAPITAL & LIABILITIES Year 1 2 3 4 5
Paid up Capital
Retained Earning
Total Equity
Long Term Loan
Current Liabilities
Creditors And Other Liabilities
Fees received in advance
Tax payable
Total Current Liabilities
Total Capital And Liabilities
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ASSETS
Fixed Assets
Less Depreciation
Net Fixed Assets
Pre-operating Expenses
Current Assets
Trade Debtors
Security deposit against office
Cash And Bank Balances
Total Current Assets
Total Assets

KEY ASSUMPTIONS

Capacity Utilization Assumptions
No. Of projects in a year 20
Starting Capacity Utilization 60%
Annual Growth Rate in Capacity Utilization 10%
Maximum Capacity Utilization for the Project 90%
Fee Based on budget of project @ 11% of Budget
Designing & Planning Fees @ 4% of Budget

Financial Projections
Debt 40%
Equity 60%
Interest on Long term Loan 14%
Debt tenure (Years) 5 Years
No. Of instalments per year 2
Net Present Value rate 14%
Income Tax Rate 20%

Product Mix
2250 sq ft (10 Marla) House 25%
4500 sq ft (1 Kanal) House 15%
9000 sq ft (2 Kanal) House (Single Storey) 10%
9000 sq ft (2 Kanal) House (Double Storey) 10%
18000 sq ft (4 Kanal) House 5%
36000 sq ft (8 Kanal) Farm House 5%
Banks/Offices 30%
Big projects at least 7
Small projects at least 13
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Operating Assumptions
Days Operational/Year 300
Days Operational/Month 25

Cash Flow Related Assumptions
Accounts Receivables (days) 75 day
Creditors 45 days
Cash in Bank 30 days
Fee received in advance (% of Revenue) 20%

Depreciation Assumptions
Depreciation Method WDV
Furniture and Fixture 10%