NORTH SOUTH UNIVERSITY

BUSINESS PLAN
Course code: MGT368
Section: 18
Submitted to: Syeda Kashfia Huq
Submission Date: 28 May 2020
Submitted By
Saeed Sarwar Khan 1812036630
A.S.M Shariful Alam 1812180030
Mohammed Nayeemul Islam 1812029630
Introduction
The Problem
Bangladesh is a country of huge population. But due to some issues,
unemployment rate is quite high in this country. According to the Daily Star, 1.38
Crore people of Bangladesh are unemployed. But this problem is not inherently
because of the shortage of jobs in this country. Interestingly, according to Dhaka
Tribune, 36 per cent of employer face challenge finding the skilled candidate for
the job. Thankfully various initiatives are being taken by the government and
various organizations to produce skilled people day by day. But the problem of
unemployment is not going to vanish within a nightfall. Without a doubt, the lack
of proper management and communication have been a major problem regarding
this issue. Not surprisingly, there is an unorganized sector in the overall service
providing system too. This sector, along with other important sectors should
become more organized and updated. As more and more people of this country
are using smartphone regularly e-commerce is booming in Bangladesh. Logically,
it is not hard to assume that people nowadays tend to rely on online based
market system rather than physical ones for convenience. That is where we can
see a glimmering future for an ideation and implementation of a business model
based on providing online based marketplace for service-related works.
The Solution
This business plan has a vision to create a market place in Bangladesh which will
make communication between employers and skilled ones a lot easier than ever.
This business plan will be a service providing platform connecting both parties via
online and will serve a community hub for employers and skilled individuals. As
many of the service providing startups succeeded throughout recent years, it is
safe to assume that, this business model has a massive potential and unlike other
physical startups, has a minimum risk.
For example, a good technician who services air conditioning living in a semi town
area usually does not use his full day productively, as air conditioning servicing is
not quite popular service in that kind of region. Suppose, in a nearby metropolis,
there is a shortage of good technician. But as it is time consuming to search for,
most of the service seeking folks would not like to go through the whole town
searching for a trusted technician. This situation I quite problematic for both the
parties. Now, let us rewind the whole scenario. This time both of the service
seeker and provider are using TRIMAX app. Using TRIMAX, service seeker is able
to find a well-rated technician in a very short time and that technician is able to
earn some extra money beside his regular work.

Keys to Success
The example above is just one example for one particular occupation. If we
consider hundreds of other occupations, ranging from plumber to interior
designer, possibilities are virtually limitless. Also, TRIMAX will be the first of its
kind, as not other job providing agency or media emphasizes on hourly-based or
task-based part time jobs. The main attraction of TRIMAX will be the work-hour
based part time jobs. As this is a very new idea in the market, TRIMAX will be able
to get head-start before its competitors and hopefully will be able to thrive with
success.
Mission Statement
The mission of TRIMAX will be creating an online based marketplace for service-
related short works focusing on smartphone and other smart device users.
Vision Statement
The vision of TRIMAX is to eradicate unemployment from the country and
empower the youth, women and other marginalized group.
Value Proposition
TRIMAX will provide a trusted and transparent marketplace for a reasonable price
to its users of every end.
Business Model
Services
Organizing the service providing market will be the main focus of this business
model. As there are many young people and women are doing unemployed, they
can utilize their leisure time by doing some service based monetizable works. For
example, a college student can utilize his/her time by doing some delivery-based
work and earn some money. Women who usually does the household works can
use their free time to do tailoring, fashion designing, culinary, tutoring or other
legitimately monetized works. Educated ones can work in their respective
academic fields. Even current job holders can use their extra time for a productive
purpose. And of course, employers can find the right people to get the job done.
The main focus of this business model will be to provide these three basic
services:
1. To provide skilled people with customers
2. To provide employers with skilled people
3. Later on, to provide companies with specialized skilled groups

Customer Segment
Employers: Employers In this country seek skilled individuals for their works, but
are struggling with it due to unorganized and backdated methods. This is highly
costly and annoying for the employers. Presumably, his is true for service-based
works as well. People like to hand over their tasks to those people whom they can
really trust, but due to the unorganized marketplace, scammers and frauds
usually take the most advantage. The irony is, there are a lot of people in
Bangladesh who desperately seek for a job, but hardly get a satisfactory one.
Through TRIMAX, employers will get to choose the best candidate for their jobs
easily and quickly.

Current Job Holders: Even if one can get a job, increasing gap between inflation
and wage rate, increasing competition and discrepancy between academics and
practical job field have left a big portion of the population unsatisfied with their
current job and salary rate. Middle income families in the city or semi town areas
suffer the most. Through TRIMAX, job holders will be able to work on their leisure
time in their respective fields and will be able to smoothen their financial
condition.
Youth: A massive portion of the youth are remaining unproductive and
unemployed. According to the Daily Star, the share of unemployed youth in total
unemployment is 79.6 percent. But in Europe, 19 per cent of the teens are
working part-time jobs6 and becoming self-sustained in an early age. By using
TRIMAX, youths of Bangladesh can use their time to do something productive,
which will provide them with money and valuable experience for the future.
Unemployed Women: Unemployment among Bangladeshi women is also quite
high. Although the readymade garment sector opened up a pathway of
employment for the women of the lower income families, women of middle
income and higher income families tend to shy away from this current workforce
due to social boundaries. according to Quarterly Labor Force Survey (QLFS) 2015-
16 by Bangladesh Bureau of Statistics, the unemployment rate among female
graduates is about 2.5 times more than their male counterparts: 16.8 percent.
TRIMAX will give them opportunities to work from home in their convenient time
and earn money.
Undoubtedly, Bangladesh is losing a massive potential workforce and economic
value. Part time service-based jobs can solve If one can use this vacuum and
ideate a business plan to organize them all, we can see a big opportunity for not
only making money but also helping the country to become self-sustained. That’s
where TRIMAX comes in. Our business model will provide employers with skilled
people and will provide skilled people with monetizable work hours. It will create
an ecosystem of workforce that will improve everyone’s life.
Scope of the Business
The scope of this business model is quite high. As Bangladesh has a vast unutilized
human resource, it will be easier to promote and mobilize this project within a
shorter period of time.

Business Medium
The whole TRIMAX will be based on app and online presence. Employers and
skilled workers will register on the website or on the app. Website and app will be
interactive and easy to use. No physical office or display center is needed for this
app.
Functioning Method
Registered employers will post about their task details along with the offered
price. Then the skilled individuals of that area and the area surrounding that will
be notified if that job is related to their expertise. Upon acceptation of the job
offer by the skilled one, both the employer and the skilled one will be connected
with one another via text messages or phone. Both parties will have discussion
about the given task and additional charge for related equipment and
transportation of equipment for example. If both parties agree, they will proceed
with the completion of the task.
Competition
As the first mover, TRIMAX will primarily gain advantage of getting zero
competition. Although other similar websites and media may try to start their
own venture like this by copying TRIMAX, but TRIMAX will be registered and
copyrighted to prevent this from happening. In case of the knock offs, TRIMAX will
be well ahead of those competitors as it will penetrate the market first.
Future Plans
Once TRIMAX becomes successful and trustworthy, it will use its expertise and it
will expand its business focusing on working for different companies. TRIMAX will
form specialized groups consisting experienced and dedicated skilled individuals.
The group members will be contracted by TRIMAX. Then the group will be sent
into different locations as per requests from companies to make an event or a
project successful. For example, Company X needs a group of event managers
including anchors, entertainers, decorators and so on. Company X will hire an
event management group through TRIMAX. TRIMAX will also venture its own
projects to expand its business.
Financial Statement
Revenue Stream
After completing a job, the payment procedure will be conducted through mobile
banking within the app or website, which will keep track of the total transfer.
After a week, registered skilled individuals will pay 8 per cent of the total income
of a week as commission and will be allowed to continue for the next week. To
encourage users in using the app, TRIMAX will provide occasional coupons,
vouchers and discounts. Also, TRIMAX will lower the payable from 8 per cent to
lower amount steadily if the skilled individual complies to the rules, In the
meantime, user base will become larger and TRIMAX will focus more on
advertisement in websites and apps. It will also start earning from various
partnerships and individual projects by then.
Startup Expenditure
Fixed Cost BDT
Legal and Permits 20,000
Stationery and Supplies 0
Insurance 50,000
Rent 0
Office Equipment 0
Website Development 50,000
App Development 20,000
Advertisements 10,000
Total Fixed Cost 150,000
Average Monthly Cost
Rent 0
Advertisements 10,000
Salaries 30,000
Overall Maintenance 10,000
Total Average Monthly Cost 50,000
X Number of Months 6
Total Monthly Cost 300,000
Total Startup Cost 450,000
Startup Assets
Owner Funding BDT
Owner 1 100,000
Owner 2 50,000
Owner 3 50,000
Total Owner Funding 200,000
Loans
Bank Loan 1 100,000
Bank Loan 2 100,000
Total Bank Loan 200,000
Other
Grant 1 50,000
Grant 2 50,000
Total Other Funding 100,000
Total Startup Assets 500,000

Estimated Income

Month Commission In-App and Project Based

Web Works
Advertisement
1 10000 0 0
2 12000 2000 0
3 14400 2600 0
4 17280 3380 0
5 20736 4394 20000
6 24883 5712 25000
7 29860 7426 31250
8 35832 9654 39063
9 42998 12550 48828
10 51598 16315 61035
11 61917 21209 76294
12 74301 27572 95367

Year Capital Growth Factor (15% Total

per year) Income
2 197240 226826 424066
3 424066 487676 911742
Break Even Point
TRIMAX will cross the break even point within the first three years of launching,
which is a very successful result for a new company.

Conclusion
Due to the recent COVID-19 pandemic, internet usage has skyrocketed and
increased by 70 per cent. In this time period, People are becoming more familiar
with online and app-based activities. This massive flow towards online activities
will impact the whole world’s perspective on day-to-day life. Thus, this will not be
audacious to assume that, in the post-Corona period, TRIMAX will be one of the
most groundbreaking startups in Bangladesh.
References
 https://www.thedailystar.net/frontpage/unemployment-in-bangladesh-
138cr-people-underemployed-1812961
 https://ec.europa.eu/eurostat/web/products-eurostat-news/-/DDN-
20190621-1
 https://www.dhakatribune.com/business/2019/05/05/36-employers-in-
bangladesh-face-skilled-manpower-shortage
 https://www.thedailystar.net/opinion/macro-mirror/news/time-
address-youth-unemployment-1803226
 https://www.thedailystar.net/business/female-graduates-most-
unemployed-1545148
 https://techcrunch.com/2018/04/27/bangladeshs-version-of-go-jek-
raises-over-10m-in-a-round-led-by-go-jek/
 https://www.counterpointresearch.com/smartphone-market-
bangladesh-grew-45-yoy-q1-2019/
 https://www.thedailystar.net/business/news/e-commerce-sales-reach-
3b-4-years-1841428
 https://www.forbes.com/sites/markbeech/2020/03/25/covid-19-
pushes-up-internet-use-70-streaming-more-than-12-first-figures-
reveal/#329409973104
The above parts are done by -
Saeed Sarwar Khan-1812036630
 The problem.
 The solution.
 Key to success.
 Mission statement.
 Vision statement.
 Value proposition.

Mohammed Nayeemul Islam-1812029630

 Business Model - Service.
 Customer agent - Employers.
 Current job holder.
 Youth.
 Unemployed women.
 Scope of the business.

A.S.M Shariful Alam -1812180030

 Business medium.
 Functioning method.
 Competition.
 Future plans.
 Financial stream .
 Estimated income.
 Break even point.
 Conclusion