Rent culture

Prepared for:

Ms. Parvin Huda

Course Instructor

Entrepreneurship and small business management

Prepared by:

Md Sakib Ahmed (18202010)

Mhamuda Orin (18202036)

Shakhaout Rahman (18202055)

Md Salman Jahan (18202056)

BBA Program

University of Asia Pacific

16 October, 2021
 RENT CULTURE

GREEN ROAD, FARMGATE

Bd +880-8619396

01894830824

www.rentservice.com

Description of Business:

This business will provide an easy solution for customers by our company services,
peoples who come toDhaka fromdifferent places or the people in Dhaka city looking for
an apartment, furniture, vehicles or types of equipment we giving these things in rent by
our company services. The business of the company is to rent everything according to
the needs of the people and the customers can also buy it after using some months we
will sell them at minimum market retail price.

Financing:

Initial financing requested is RS. 6,00,000 loan to be paid off over five years. This
debtwill cover office space, office equipment, and supplies, two leased vans,
advertising, and workers' cost. The partners provided 7,00,000takajointly.

This report is confidential and is the property of the co-owners listed above.It is
expected for utilizing exclusively by the people to whom it is communicated, and
anygeneration or revelation of any of its substance without the earlier composed assent
ofthe organization is disallowed.

Executive Summary:
The purpose of this proposal is to forge a strategic relationship with those
customerswho are actually facing problems and can’t find their needs according to
demands.

So, we came to develop a new business idea that can be run very well in this tough
timeof the global pandemic. Also, in Bangladesh, it will be a different or unique
businessidea that provides services to people by giving them anything in rent which will
helpthem not to buy. In our company we would like to work with few services which
peopleneed the most :

 Apartment
 Furniture
 Vehicles
 Equipment

Also in our business, we will provide extra facilities for students or bachelors.
Nowadaysyoung and middle-aged professionals between 25 to 45 in Dhaka City have
the mostdifficulty in getting a good house and good furniture. So we would like to
provide thenecessary things in exchange for a fixed monthly amount.

Our company will help the customers getting furniture and delivery service easily
savingthem from the trouble of moving them while shifting houses.While shifting house
we willalso provide workers, transportation.

Furniture damages the environment less than buying as it minimizes production

andhence fewer trees need to be chopped down for wood.

A subscription from our organization also covers damage repairing costs and insurance.

In case of damage, the client pays the market retail value of the piece if the
damageinsurance cannot cover the cost.

The main target markets for the business are Dhaka city. Initially, we have high
demandall over the country. So to make our business bigger we decided we would open
ourown office first in green road, Farmgate because Farmgate has most of the
coachingcenters for varsity admissions, bachelor students want to stay somewhere
nearby sothat it is convenient for them to travel.Consequently, the area has gained
commercial importance and has become one of the major transportation hubs of Dhaka
from where anyone can travel to all other parts of the city as well as throughout the
country so thisplace will be very useful for everyone from where it is very easy to travel.
Also, for ourbusiness growth, we have our sites in an online platform where sellers can
post theirsales and buyers can buy according to their needs. As our business is more
service-based so we can offer customers an upgrade to try our new business
service.For ourcompanies promotion we can:

 Offerloyal customers an exclusive previde

 Use a specialintroductory offer 

 Run asocial media contest

 host an event

 Post on social media

 Offer a complimentary upgrade.

The business has a window of opportunity to introduce its services and gain asignificant
brand value as well. Our new services have a wide range of customers andit’s expected
to hold a huge market as well.

We are moving forward with the idea of growing our business day by day and trying
tomake our weak points better. The rental business has always been very popular
andprofitable. We have many competitors who are already doing rental business but
thebusiness plan we are working on is different from others, we will gradually
bringeverything in one place through our business that can be rented. So that people do
nothave to suffer to rent anything and life becomes easier through us.

Industry Analysis

Futureoutlook
Numerous rental organizations are now settled. Yet, the field-tested strategy we
arechipping away at is unique concerning other people, we will step by step acquire all
thatone spot through our business that can be rented. Our organization will be founded
on arental business. We chiefly need to give the essential things in return for a
propermonth-to-month sum. It will offer types of assistance to individuals by giving
themanything in rent which will help them not to purchase. At the point when our
organizationwill begin, we will be pushing ahead with our thought that how could our
business begreater. We wish to accomplish such a lot of client reactions in 1 year. It
wills theimprovement of our organization. We get all the best to our objective client and
thepsyche of the client will extraordinary convictions of our administration. Since
wemention that by our administration we need to make our clients' lives simpler
throughour administration.

Analysis of competitors:

In the rental business market, many renowned companies are already coming up
withtheir services.

 Let’s furnish bd- It’s an online Furniture and Appliance subscription platform.
 Rent Hobe-Types of equipment, rent a car, and property rental service.
 Rental home bd-Property portal website with a search facility for property finders
and renters.
 Khaled Rent A Car –All kinds of vehicles to rent.

Market Segmentation:

We segment our market according to demographic segmentation. In this segmentation

criteria, we segment our customers according to age, sex, income, and occupation. Our
main target customer is young and middle-aged professionals between 25 to 50 in
Dhaka city who have the most difficulty in getting a good house and good furniture.

Description of Venture
Our mission is to provide household equipments with necessary shifting helps,
information about apartments for rent. We are set to meet the needs of our clients. Our
intention of starting this business is to make profit from the industry.

Products: our business offering products are Bed, Sofa set, Cupboard, Table etc. Which
can be anything ranging from a room cooler to vaccum cleaner. More examples could
be luxury or office furniture, kitchen decor.

Services: offer a full range of packing, movie and storage services. This includes load
moves and full packaging service. For large moves upon request our service provider
representative will give the customer a written' Estimated cost of services’ after a visual
survey of the goods to be moved. Our trusted, background checked, skilled movers and
transport services also included.

Office Equipment and Personnel: Office equipment helps in managing office related day
to day activities Run smoothly. The necessary equipment should be available for every
employee so they can work productively and efficiently. Basic office equipment includes
Table, Chair, Printers, Collaboration tools, Telephone system with good internet
connection and so on.

Production Plan

We get our products from local furniture shops and buy used households and easily fix
the older inventory to refurnish it and it gives a new modernised look. This recycling
process gives us a great edge when it comes to managing inventories. Our products are
designed specially for renting that means they can be turned over multiple times.

In the customer rental industry, having an online presence today is essential because of
the way modern customers search for information. From our website people can get
information with pictures for their needed items. Make it easier for customers to find
everything they need on our website. Straight forward navigation and well designed
user journeys that end up to the conversion ensure the continuous and smooth
browsing flow for the customers. To highlight our most common products and services
we will showcase them first. Strategic positioning of the most important content makes it
easier for customers to understand what our company is about.
Operational Plan

It is practically tough to display all the furniture rental items in a retail store. For this
reason we must get a warehouse to store part of rental inventory that is not on display.
Here’s couple of things to consider while getting a warehouse space:

 Stacking the furniture may damage it so make sure the warehouse is specious
enough to house all your rental fleet.
 Check if the warehouse is infested with molds, termites or rodents of any kind.
Get mold remediation or a pest control done if this is the case.
 Big- ticket furniture items are prone to theft so making sure we have implemented
adequate security measures, install security cameras, smart locks, hire guards if
necessary.
 It is also important to get the warehouses property insured. Make sure the plan
covers the warehouse building and all the associated furniture items against
instances of fire, theft and natural disasters.

For delivery, We provide superior packaging, loading unloading and quality moving
services, hassle free relocation, 24/7 Customer support. Moving time depends on many
factors including the time of year, weather conditions, size of elevator and shipment and
the direction and distance the shipment is traveling.

Marketing plan

Pricing

As pricing we will use competitive pricing and time based pricing method. Competitive
pricing will help us to fix a price after analyzing our competitors so that we can think to
select a price that will help us to face our competitors easily. Time based pricing method
will help us to select different price for those product of renting for example monthly
charge, lease, buying second hand. There will have a fixed price of product those will be
sell by us on behalf of the seller.

Distribution

For product of selling we will work as middle intermediaries in which process we will
collect product from the seller and then will send it to buyer. In product renting process
we will use direct distribution process in which we will send the product (that have been
rented by someone) directly to him. For home renting process we will have a office from
where we will give service.

Promotion

For our promotion firstly we will start giving advertisement in newspaper, we will start
that advertisement from 15 days before starting our office, will make leaflet to be
distributed by the book seller giving the leaflet within the sold books, for social media we
will make an video advertisement to use this on our social media page. There will have
less charge of renting product for the 15 days from opening and those customers will
get free delivery and free installation.

Product forecast

We have segmented our customer in two category either they are youth and adult or
they are senior. Though we have certain competitors in this business but they are much
strong competitors to be face in future as all their strategy are strong. We made a
market analysis that reveled that we should always be prepare to improve our service,
change product selling and product rental process. We always should be prepared to
face different strategy from our competitors and apply new strategy to cope with those
strategies.

Control

We have selected a team of 3 to focus every moment of our business if any system or
process need to change they will inform us and their one main duty is to always focus
on the market and the competitors to easily avoid uncertainty because of competitors
strategy. So they will always make focus on the market strategy made by others.

Organizational plan

Form of ownership

Unique accommodation is a partnership business made by 6 people by written contract

in which all the rules of running this business is written and signature by all partners.

Identification of partners

There is 5 working partners and 1 is sleeping partner who has been influenced by us to
be a partner as financing partner and we still would like to add one nominal partner in
our business.in which everyone has equal share to capital, loss and profit.

Authority of principle

All the power for running the business will be in the hand of all working partners. 2 will
deal with all the office work 1 will be the head of controlling group, 1 will work in
financing section, 1 will have signing power.

Management team

All the working responsibilities of running this business is in the hand of 2 working
partners and one has the check signing authority and one will work for finance. All the
working partner have the right to take any decisions regarding to this business but there
will have voting of 5 people. There will have 16 staff to run this business with us. 5
people will work for controlling, 5 will work as rental representators, 3 will work in
warehouse and 2 will work in the office. All the representators will directly deal with the
customer and they will report to 2 of our partner, in warehouse 2 will work for delivering
product and 1 will work as listing incoming and outgoing product. 2 people will work in
our office to help in all the office work.

Assessment of risk
Though it’s a new business so we can face many challenges and hazards. We will firstly
face a risk of not having targeted profit for the opening few month and we think that we
will not be able to get up the cost of the running the business if we are failed to make
the business much known to people within a short time. There will have a risk of facing
new technology that can be uses by our competitors like they can introduce new
security system, new digital process of selling and renting and new digital machineries
in hostel for young people. So our controlling team is always seeing on the market to
avoid this uncertain situation of new technology and new strategy.

Financial plan

We are going to start our business with an investment of 70 lakh as an primary capital
and our sleeping partner is bonded to increase his share 5 percent in the next year as
investment. After starting this business we will make an expected cost that would be
occur in the first month. It is about 5 lac without the advance paid for taking office in
rent. This cost include all the staff salary, office rent, equipment of office like table chair
and other extra costs of daily expense. For the first 2 month we have targeted an
amount of 3 lac for various promotion and for the rest of the 10 months of the year we
targeted a maximum 2 lac for all promotional activities and controlling activities.

Appendix

Market analysis

An analysis on the market reveled that we will face certain strong competitors on hostel
renting process. The strong competitor is Super Home BD and there will have many
competitors in the second hand product selling and product renting. So this analysis
shows that we need to have always focus on the market on others marketing strategy.