Department of Accounting & Information Systems

Course Name: Entrepreneurship Development

Section: B
Course code: 5206

Submitted to:

Dr. Rajan Kumar Mitra

Professor
Department of Accounting & Information Systems
Faculty of Business Studies.
University of Dhaka.

Submitted by:

SL NO. Student Name Student ID

1. Rafaitul Islam Tanvir 12044010
2. Willson Dhruba Kuluntunu 12044016
3. Khandoker Rumman Mahmud 12044003
4. Md. Arif Sarkar 12044054
5. Sadia Tusty 12044017
6. Md. Golam Shariyar Thamid 12044050
7. Md Joynal Abedin 12044059
8. Sanjida Alam Soma 12044024

Date of submission: 30 December 2022

 Contents
INTRODUCTION......................................................................................................................... 4
Name of Business: ময়ূরাক্ষী craft .............................................................................................. 4
Nature of the Business: ................................................................................................................. 5
Statement of the financing needed: ............................................................................................. 5
Statement of confidentiality of report: ........................................................................................ 6
BUSINESS MODEL ..................................................................................................................... 6
A. Business Model Canvas......................................................................................................... 6
Business Canvas Model: ............................................................................................................... 8
B. Pricing Model ........................................................................................................................ 8
C. Social Goal ............................................................................................................................ 8
D. Sustainability ......................................................................................................................... 9
E. Eco-Friendly: .......................................................................................................................... 9
BUSINESS ENVIRONMENT ANALYSIS ................................................................................ 9
A. Porter's five forces .................................................................Error! Bookmark not defined.
SWOT analysis ............................................................................................................................ 10
Stakeholders Analysis ................................................................................................................... 11
DESCRIPTION OF VENTURES ............................................................................................. 13
MISSION: ................................................................................................................................. 13
REASON: .................................................................................................................................. 13
Product and services .................................................................................................................. 14
Size of Business: .......................................................................................................................... 14
Office Equipment: ..................................................................................................................... 14
Background of entrepreneurs:................................................................................................... 14
PRODUCTION PLAN/SERVICE DELIVERY MODEL ...................................................... 15
A. Manufacturing process: ........................................................................................................ 15
B. Physical Plant: ...................................................................................................................... 16
C. Machineries and equipment:................................................................................................. 16
D. Names of Suppliers and raw materials: ................................................................................ 17
Operational plan ......................................................................................................................... 17
B) Flow of orders for goods and/or services: ............................................................................ 18
7. Marketing plan .......................................................................................................................... 19
ORGANIZATIONAL PLAN ..................................................................................................... 26
A. Form of ownership: .............................................................................................................. 26
C. Authority of Principals: ........................................................................................................ 26
Board of directors of our company: .............................................................................................. 27
D. Roles and Responsibilities of Members Organization: ........................................................ 28
Assessment of risk ....................................................................................................................... 28
A) Evaluate Weaknesses of Business: ...................................................................................... 28
FINANCIAL PLAN .................................................................................................................... 29
A) Assumptions:........................................................................................................................ 29
B) Projected Income statement: ................................................................................................ 30
C)Projected Cash flow .............................................................................................................. 31
D)Projected Balance sheet ........................................................................................................ 32
E) Break even analysis .............................................................................................................. 33
F) Source and application of Funds........................................................................................... 33
APPENDIX .................................................................................................................................. 35
A. Letter to Bank ....................................................................................................................... 35
Brac Bank .................................................................................................................................... 35
B. Market research data ............................................................................................................. 36
C. lease to contract .................................................................................................................... 36
D. price List from supplier ........................................................................................................ 36
INTRODUCTION

Handicrafts are unique expressions and represent a culture, tradition and heritage of a country. We
are going to open a handicraft shop under the name of “ময়ূরাক্ষীcraft”. We selected the name
because the meaning ofময়ূরাক্ষী is eyes of the peacock. Peacock is the symbol of integrity. Also
peacock symbolism carries portents of: Protection, pride, royalty and good luck.
We will start our operation by opening our first store at Bashundhara city and the corporate office

will be located at Banani-11. Then we will try and expand our operation by increasing the stores
and go into garment production business.

Name of Business: ময়ূরাক্ষী craft

Office Address:
Lintoo Centre Road-11, House no-82, Block-D, Banani, Dhaka.
Manufacturing Address:
Kona Bari, Gazipur. Bangladesh
Store Address
Level-07, Block-A ,Bashundhara City mall , Panthapath, Dhaka.
Nature of the Business:

The core business is the retail of the apparel products than as we will expand we plan to open more
store across Dhaka city and also across all the districts as well because major apparel brand did
not enter into those small markets which basically give us only a very few local competitions. We
also plan to make our own products from our own garments as well.

Statement of the financing needed:

The initial financing requested of the company is 5000000 -taka loan which will be paid off over
five years’ period from Brac bank ltd. The debt will cover office space, equipment, supplies and
advertising. The partners will provide 5000000 jointly and the rest 5000000 will be borrowed from
partner. So, the cost of the project is estimated 15,0,00,000.

Shares of profit and loss:

Name of the working partner Shares of profit Shares of loss
1 Rafaitul Islam Tanvir 13% 13%
2 Willson Dhruba Kuluntunu 13% 13%
3 Khandoker Rumman Mahmud 12% 12%
4 Sadia Tusty 13% 13%
5 Md.Golam Shariyar Thamid 13% 13%
6 Md. Arif Sarkar 12% 12%
7 Md Joynal Abedin 12% 12%
8. Sanjida Alam Soma 12% 12%

.
Statement of confidentiality off report:

The undersigned reader of ময়ূরাক্ষী craft Business Plan hereby acknowledges that the information
provided is completely confidential and therefore the reader agrees not to disclose anything found
in the business plan without the express written consent of Owners of ময়ূরাক্ষী craft.

It is also acknowledged by the reader that the information to be furnished in this business plan is
in all aspects confidential in nature, other than information that is in the public domain through
other means and that any disclosure or use of the same by the reader may cause serious harm and
or damage to ময়ূরাক্ষী craft.
Upon request this business plan document will be immediately returned to ময়ূরাক্ষী craft.

This is a business plan. It does not imply an offer of any securities.

Applicable Law
This contract shall be governed by the laws of the County of Bangladesh

BUSINESS MODEL

A. Business Model Canvas

• Customer Segments

We are going to target the niche market. As people are leaning towards being more
fashionable and trendier pattern, along with maintaining our country’s heritage this could
prompt people to choose our Moyurakkhi Crafts over other conventional handicraft shops.
• Value Proposition

With an increase in interior designing trends across all emerging markets, our product has
a strong value proposition being functional and keeping extreme durability. The unique
design of our products will be easy to use and eye catching at the same time. We will be
setting the price at an affordable range for our customer segment.
• Channels

Besides direct selling, we will also provide online selling service. The launch of an e-
commerce website is a big opportunity to provide greater market access for marginalized
Producers in rural areas. Consumers globally will be able to experience the rich cultural
craft of Bangladesh through the convenience of purchasing products online. We will be the
first in the industry to join in the online selling option which will enable us to get a huge
customer base. We will provide them with after sales service in terms of returning of any
damaged goods.

• Customer Relationships

We will aim to acquire our clients and customers through word of mouth and our website
and Facebook page. Retention of clients would be applied by giving discounts to frequent
buyers and occasional promotional offers.

• Revenue Streams

Our revenue stream is going to come from the sale of our products. Advertising cost would
be higher in the first year to accommodate the additional marketing activities described in
the marketing strategy.

• Key Resources

Physical: Office Floor, machinery, warehouse, computer/laptops

Financial: Financing with own money
Intellectual: Customer databases, brands, online page
Human: Employees, sales force

• Key Activities

To begin with, we will be creating a user-friendly website and Facebook page. We will
further need to gather raw materials from our suppliers. Our key activity is to extract,
package and sell.

• Key Partnerships

Suppliers of the raw materials will be our key partners. We tend to work on these
relationships to avoid any sort of risk and/or uncertainty.
 • Cost Structure:

o Projected Cost of Goods Sold BDT 17160000 per year

o Projected Gross Margin BDT16134000 per year
o All other operating and non-operating expenses BDT per year
o Projected Net Income BDT 8340000 per year
o We might able to get initial investment back within 1 Year

Business Canvas Model:

Customer
Key Partners: Key Activities: Value Customer
Relationships:
-Suppliers of -Production of Proposition: Segments:
-Discounts to
Raw materials Handicraft goods -Functional, -niche market
Frequent buyers
(Local farmers) Durable
-Retention
-Affordable
Price
Key Resources: Channels:
-Physical -Retail outlets
-Human
-Offices
-Financial
-Intellectual Universities

Cost Structure: Revenue Streams:

-Variable costs -Sale of Handicraft Products
-Fixed cost of land
,machinery and equipment

B. Pricing Model

We are planning to offer fixed pricing model because it is a start up business and we will decide
upon a price based on the market competition. The cost of the product will be calculated and we
will add a markup to the cost.
C. Social Goal
Our business goals are aligned with societal goals such as maintaining a healthy and safe work
environment, being moral, and refraining from exploiting the environment. As well as we will try
to show Bangladesh’s culture to mass media.
D. Sustainability
In financially sustainable businesses, long-term profitability takes priority over any short-term
gains. Short term and long term goals need to be categorized so that employee-investor-owners
can enjoy the net result of their efforts. We will need to maintain all financial records to manage
our financial sustainability. To survive in the industry in the long run, our business needs to be
financially sustainable. And to do so, we need to develop a proper plan that outlines the profit
we want to make, level of debt and cash flow requirements.
Additionally, we need to be operationally efficient in order to survive in this industry in the long
run. By this, we can gain competitive advantage, making ourselves more efficient over the
competitors.
E. Eco-Friendly:

This business is an eco-friendly venture because all we are working over here with natural product
produced from the nature. Lastly we will not use any machineries which will cause harm to our
environment and people.

BUSINESS ENVIRONMENT ANALYSIS

1.Supplier Power:

Our suppliers have a very low power on us.the raw materials we needs to produce handicraft
product are agriculture product which could be found anywhere in the Bangladesh through the
local Farmers. So the supply of our raw materials is very high than our demand that makes the
power of our suppliers low. So we can easily switch our suppliers.

1. Buyer’s power:

Though our supplier has a very low power over us, our customers have a very high power over us.
The main reason is that using a handicraft product is considered as a luxury thing. There are no
necessity or health benefits to use Handicraft product. So if the price is very high or the quality is
very low our buyers could stop using handicraft product which makes them very powerful over
us.
 2. Competitive Rivalry:

Arong is basically dominating the whole market. There are others competitors such as Deshi Dosh
and Bengal craft. Arong has a great brand value and has captured significant number of customers
for Handicraft product. People could mostly find their desired handicraft product from Arong. So
Arong is a very strong competitor for us. The only way we can attract customers is offering them
low price than other competitors which is one of the major considerations in our business plan.

3. Threat of Substitution:

Threat of substitution for our business is very high. People could stop using handicraft product at
anytime and start using substitute of handicraft product such as product made of plastic or steel.
The cost of this substitute product is very high compare to handicraft products. So the threats of
substitution are very high. But there is a unique style in using handicraft product which can’t be
found any of these substitute products so there is huge chance to create value for customers.

4. Threat of New Entry:

There are few competitors in the market though they have great brand value .So if someone could
create a brand value for the customers there are high chance to capture the existing market. So
threat of new entry is very high. To produce Handicraft product there is no need for special
equipment, the only thing an organization need to produce handicraft product is skilled labor which
is available in Bangladesh. So it very easy to enter the market

SWOT analysis

Strength Weakness

1. Skilled producers with high production Matching of skills with

1. responsibilities
capacity with unique products.
and expectations
2. Commitment towards fair trade.
Environment-friendly products and 2. Low or no involvement of technical
3. socially
responsible. person.
Regular process of product
4. development. 3. Inadequate of current information
It is the potential source of foreign
5. revenue
because of higher export.
 Opportunities Threats
Hand crafted products have to compete
1. Rising demand and usage of handicraft 1. on
price, design and adaptability with
products in fashion industry modern
machine products, which make
2. People like diversified designs and difficulties
handmade items. for our traditional products to be
Cheap manpower available in our
3. country. competitive in international market.
Our cultural and jute good has got Artificial automated products produced
4. values in 2. by
overseas market competing companies.

Stakeholders Analysis

Stakeholders are the group of people who can affect or be affected by the organization’s objectives,
actions and policies. Every business has several stakeholders. Our business prefers to maintain a
very good relationship with the stakeholders.
The major stakeholders for our organizations are given below: -
Customers:
Like every other businesses our customers are the core or the most important stakeholders.
Generating profit and getting valuable customers is the major target of our Business. So we will
focus on middle and high class people to sell our products. There is a great chance that our
customers can switch to substitute product or the competitor’s product. But if we can create a
greater value for the customers they might carry a longer relationship with us. So we need to
manage our customers closely.
Suppliers:
Raw materials that we need to produce our final handicraft products are basically agriculture
product such as wood, bamboo, straw, bead, stone, sea shell, coconut shell, brass, copper, leather,
jute, cane, grass and natural fibers. As Bangladesh is an agricultural country we can easily find
these raw materials from the local farmer’s. But we need to keep informed our supplier (the local
farmers) about the quality and quantity of our raw materials.
Labors:
labors are the internal stakeholders for an organization. About 80% of the people in Bangladesh
are involved in agriculture and the labor cost of the rural parts is very cheap. It provides a great
opportunity for our business. We can create jobs for people living in the rural parts, especially for
the women as they are very efficient in making handicraft products. Handicraft products are
handmade products which entirely depend on the labor force. So we will try our best to motivate
our labors to maintain high quality products.
Government:
Government is considered the most powerful stakeholders cause actions and policy of the
Governments can create multiple impacts on the businesses. Government is now giving different
types of subsidy in the handicraft and cottage industry to make the business grow further. So we
will get direct support from government through different rules and regulation of the government.

Creditors:
We are going to manufacture our products in Kustia and sell our final products in our shops situated
in Dhaka. So we need huge initial investment. Different NGOs, banks, and other financial
institutions are now giving loansto the cottage industry at lower interest rate than other industry.
We will manage our creditors closely by providing appropriate interest amount.
Competitors:
Aarong, Deshi Dosh, Bengal craft are big producer in Handicraft industry and they all have very
high brand value. These are the few competitors in the market. Only Arong is now dominating the
market. This competitors offer high price and only focus on high class or rich people. So, we will
be able to enter into the market easily and will be gain a lucrative position if we can create greater
value for our middle class segment at a lower cost in the industry
DESCRIPTION OF VENTURES

MISSION:
Our mission is to create a global demand for our handcrafted products & providing home-based
employment and self-help handicraft business opportunities.
REASON:
A craft is a great way to make a difference in the world. Because Nowadays People are very
concerned about traditional products and how those products make their house beautiful as they
want. So our ideas will be very relatable to their demands.
Though we have planned and organized a lot of promotional activities for the development of our
brand but only a few of them have actually been activated. We have selected our place of selling
house and organized all other officials as well.
Product and services
our main products will be dress, Nakshi Katha, Sital Pati, Wall Hanging, Cushion, Pillow-cover,
Bedspreads, traditional Jewelry, Terracotta, Hand-made paper items, Handloom from natural
fibers etc.

Size of Business:

Initially our employee will be 30 person including 8 partners.

The factory will be in Gazipur. Our outlet in Bashundhara city. We will rent the outlet for 5years
and the factory location is right for the business because most of our raw materials will be from
Gazipur region. For the location of the factory we get raw materials easily and convert into final
goods. Our outlet will be also in good place where customer can interact easily and we will get our
target customer. Our Office will be in Banani that also great place.

Office Equipment:

For the office equipment, we need few equipment’s like Computer and Printer. For the factory we
need Swing machineries and printing machine those take 150000 BDT. We will buy both office
equipment and machinery in cash and loan.

Background of entrepreneurs:

1. Name: Rafaitul Islam Tanvir, Position: Managing Director

Rafaitul Islam Tanvir currently pursuing her MBA degree from Dhaka University has great
leadership skills. She has vast knowledge in current affairs. For the company, she will be working
as the Managing Director and will work for building the brand image of the company.
 2. NAME: Wilson Dhruba Kuluntunu, Position: CEO
Willson currently pursuing his MBA degree from Dhaka University. He is very creative person.
He has his own small business and he takes care of the promotion himself. For the company, he
will be managing all the production process.

3. Name: Khandoker Rumman Mahmud, Position: financial manager

Rumman recently pursuing his MBA degree from Dhaka University has an excellent knowledge
in finance. He will be working as a chief financial manager and will also effectively manage the
finance department of the company.

4. Name: Sadia Tusty, Position: Marketing Manager

Sadia have vast experience in Marketing filed. His specialist in digital marketing and strategic
marketing in local business.

5. Name: Md Arif Sarkar, Position: Head of Human resource management

Md Arif worked as HR talent acquisition of Auto Rebellion. He knows to set up right person in
right place.

6. Md Joynal Abedin & Sanjida Alam Soma

They both are our strategic partners. Working and suggesting us with the greater goal of company
success.

PRODUCTION PLAN/SERVICE DELIVERY MODEL

A. Manufacturing process:

Traditional jewelry product for felt ball necklace we chose two sizes of felt balls and threaded
them onto a strand of tan wax cord, we also did another version with 3 strings of embroidery thread
that was braided at the end and then fixed onto an end coil and lobster claw
For the jewelry box we use quilling paper in the slotted tool and start winding. When we reach the
end of the trip, glue another strip and wind. Repeat this process till get a circle with diameter of
approx 4 inches (10cm). Secure the end with glue. This disc is for the cup. We Apply glue and
gently push down to form a cup. we allow the glue to dry for at least 24 hours.
We use new cotton cloths to make nakshi katha,pillow cover, bed-sheet.. When a kantha is being
made, first all the cloths are joined together to attain the required size, and then layers are spread
out on the ground. The cloths are then smoothed, and no folds or creases are left in between. During
the process, the cloth is kept flat on the ground with weights on the edges. Then the four edges are
stitched and two or three rows of large running stitches are done to keep the kantha together. At
this stage, the kantha can be folded and stitched. Originally, designs and motifs were not drawn on
the cloth. The design was first outlined with needle and thread, followed by focal points, and then
the filling motifs were done. In a kantha with a predominant central motif the centre was done
first, followed by corner designs and the other details. In some types of kanthas (carpet, lik and
sujni, etc.) wooden blocks were used to print the outline. We plan to utilize machines with utilized
for extricating and bundling purposes.
Designs prepared at the production center and send to field through group leader. After sewing,
group leader collected this product from field and send back to production center. Washing and
quality control are maintained by the production center and send to show room after final checking.

B. Physical Plant:

We will have a place for our production facilities. The production Factory will be situated in a
large space of Gazipur. All the equipments will be separately planted for efficient line balancing.
The product inventory will be also there in the physical plant where operation facility is located.

C. Machineries and equipment:

The Machinery will have the components mentioned below.

• The shell breaking unit

• EMERY WHEEL used for grinding seashells and sharpening tools
• SCISSORS-use for cutting fabrics and threads
• Swing machine for bed-sheet
 • Needle for Nakshi kantha
• Measuring tools- meter stick, tape measures are used for measuring fabrics
• kilns, wheels, and some form of equipment used to bring dry clay to usable form

Subsequent to being contained into individual packs, the item is moved to the organization
storeroom. Every one of the types of gear that are required can be sourced locally.

D. Names of Suppliers and raw materials:

Raw materials that we need to produce our final handicraft products are basically cotton cloths,
glue, stone, sea shell, jute, cane, grass and natural fibers. We will be collecting most of our raw
materials from Local suppliers of Kushtia excluding cotton cloths. We will collect cotton cloth
from (Islampur) Dhaka. Our estimated total cost for per Naksi Kantha is 750 taka, sheetal pati 300
taka, Pillow cover 200, Bed-sheet 800, Terracotta 100, Traditinal jewelry 200 taka.

Operational plan

A) Description of Company’s operation:

We will organize and buy our raw materials from different suppliers mainly near our
production area. This will also minimize our transportation cost. This also helps us to
understand our suppliers better and we intend to create a better communication between us
and the suppliers.
 handicraft
materials Processing
from Production
warehouse distributor Customer
suppliers storage

B) Flow of orders for goods and/or services:

Get raw materials from

suppliers

Store them in factory

Wash and process

Selection process(separate
good from bad)

Inspecting the finished

products

Packaging and send to

Distributors

Retailers

Consumer

C) Technology Utilization:
We will use the best and latest technology although we are using handicraft products, technology
in production are less required. But we will use the latest computers and electronic devices to keep
and track information of our suppliers and consumers.
7. Marketing plan

A) Product Strategy:
The product itself is the primary influence on what consumer’s experience with a brand, what they
hear about a brand from others, and what the firm can tell customers about the brand. At the heart
of a great brand is invariably a great product.
For successful marketing it’s a pre requisite to design and deliver a product or service that fully
satisfies consumer needs and want, regardless the product is a tangible good, service, or
organization. The patent, copyright and trademark will be done after following all the rules of
Bangladesh patent and trademark bureau and will do our patent and trademark from that bureau.

Product line:
In our ময়ূরাক্ষী shop customers will get these products-

Nakshi katha: Nakshi katha is one of the art tradition in Bangladesh. In village side many women
make nakshi katha in their leisure time for income money. The basic material they use is cloth and
thread. Most katas tend to follow a basic pattern, the focal point being a central lotus motif with
concentric circles of undulating vines or sari border patterns. In the four corners of the Katha, or
in the four corners of the central square, tree-of-life motifs or kalka are embroidered pointing
towards the central lotus motif. The empty spaces between the central and corner motifs are filled
with motifs drawn from nature and the homestead or with scenes from real life or legends.
SHEETAL PATI: sheetal pati another handicraft product. It is a kind of mat which feels cold by
nature. People use this mat in summer time.
BEDSHEET:
Terracotta:
Terracotta is a clay like earthenware ceramic. A potter can give any shape of in teracota. It’s a very
traditional product in our country.
PILLOW COVER:
TRADITIONAL ORNAMENTS:

B) Price:
Pricing is a very important marketing tool because this only way the firm can get back investment
with or without return. So we have to be very precise, how we want to go about it. We will charge
a value/premium price depending our products. We have a huge catalogue of products and the
price may change a bit depending the cost of making and other charges. We will charge less on
bed sheet, ornaments and pillows but will charge more on nakshi katha and sheetal pati to make
up the profits. The list of some of the products are given below-

PRODUCT PRICE

• NAKSHI KATHA 2500

• SHEETAL PATI 1750

• BEDSHEET 1250

• TERRACOTA 350
 • TRADITIONAL ORNAMENTS 400

• PILLOW COVER 320

C) Promotion:
Promotion is the method we use to spread the word about our product or service to customers,
stakeholders and the broader public.
Once we’ve identified our target market, we’ll have to come up with a good idea of the best way
to reach them. We will apply mass marketing through print media, radio commercial, billboards,
online Facebook page, YouTube. We would also offer a promotional price after starting our
business. We are going to sponsor some traditional event like pahela baishakh, cultural fest for our
promotional activity. We will start our own campaign for our product and arrange some customer
engagement activities.

D) Place:
We want our customer to think our brand as a premium brand. That why we choose our place at
bashundhara city market. We choose this place because it’s a place where no handicraft shop is
available. We will showcase differ rent kinds of handicraft in a one shop for customer and their
home decoration. It’s a place where foreign people also go. So To attract foreign customers, we
will give some promotional products as a gift, so that they get to know about the product and
remember our service.

E) Packaging:

Our brand name is ময়ূরাক্ষী which is the symbol of royalty and beauty of true colors. So our
packaging format will be traditional but royal design and colorful look. So that other people can
easily attract by our packaging and come to our outlet for shopping.
F) People:
Demographic:

• 20-60 age group

• Male and female both, but main target is female customer.
• Income/salary- 30000 BDT

Psychographic: We are targeting self-esteem stage belonging people. People will have interest in
handicraft product for their home.
Geographic: Dhaka city first then gradually other cities. We will create value for the specific
customers of our products. We will try to provide best service to our customers.

ORGANIZATIONAL PLAN
A. Form of ownership:
This is a partnership business where all partners are responsible for loss and profit. Initially we are
7 members of partner. We share our profit or loss by 15% each. Our organization is flat
organization. Each partner has particular duty to operate the business.
B. Identification of Partners
Our business partners are fixed. In intial stage we are Seven partners, Tanvir, Willson, Rumman,
Sadia, Shariar, Arif, Joynal.We also keep option to join or leave from the partnership. Few factors
work on that

• Amount of Investment of new member.

• Is they work for silent partner or active partner.
• Leadership skills.
• Experience on same industry.
• Level of risk aversion.
C. Authority of Principals:

We are startup business so to collect our money , stock market isn’t possible. We form a board
where selected person take control the decision making process of business. The board members
selected in democratic way ! Voting system can be good option .
Profits will be distributed equally among the board of members and shareholders. Since the initial
capital would be invested by the partners equally, the shares would be distributed evenly. However,
the respective positions like the CEO, Financial Director and etc., will have their own
responsibilities and authorities.

Board of directors of our company:

7. Name: Rafaitul Islam Tanvir

Position: Managing Director
Rafaitul Islam Tanvir currently pursuing her MBA degree from Dhaka University has great
leadership skills. She has vast knowledge in current affairs. For the company, she will be working
as the Managing Director and will work for building the brand image of the company.

8. NAME: Wilson Dhruba Kuluntunu

Position: CEO
Willson currently pursuing his MBA degree from Dhaka University. He is very creative person.
He has his own small business and he takes care of the promotion himself. For the company, he
will be managing all the production process.

Name: Khandoker Rumman Mahmud, Position: financial manager

Rumman recently pursuing his MBA degree from Dhaka University has an excellent knowledge
in finance. He will be working as a chief financial manager and will also effectively manage the
finance department of the company.

Name: Sadia Tusty, Position: Marketing Manager

Sadia have vast experience in Marketing filed. His specialist in digital marketing and strategic
marketing in local business.

Name: Md Arif Sarkar, Position: Head of Human resource management

Md Arif worked as HR talent acquisition of Auto Rebellion. He know to set up right person in
right place.
D. Roles and Responsibilities of Members Organization:

• Managing Director
• Take care working progress and meet up business mission !
• Every day’s management decision.
• Monitoring rest of department progress.

• Finance Director:
• Managing capital and budget.
• Creating financial and tax strategies.
• Controlling all the cash flow of the organization.
• At the end of every year showing financial flow of the whole year to the partners.

• Head of Marketing:
• Creating new marketing strategies for the business.
• Look after all the branding, campaign and etc.
• Product development strategy.
• Developing target market and segmentation.

• Head of Human Resource:

• Hire Right person in right time.
• Make connect to all departments..
• Motive employer and find out best result.
• Training the people.

Operations Director:

• Supply chain management.

• Forecasting of sales and production.
• Quality assurance.
• Finding alternative solution for the problem if something arises.

Assessment of risk
A) Evaluate Weaknesses of Business:

• Easy for other competitors in the market to get hold of our strategy.
 • With the leading competitor of handicraft in Bangladeshi market, Aarong, it will be very
difficult for us to be competitive at first.
• If we do not do proper promotion, it might be difficult for us to capture people’s attention.
• Transportation of handicraft materials are very sensitive, as handmade products are fragile.
B) New technologies
As our product is basically Handmade Product There is no upcoming new technologies. The
machinery and equipment we are goanna use is very simple and popular in village area.
C) Contingency Plans

As of now we are selling handicraft products and related items. But we’ve plans to extend our
business to clothes and traditional garments. But yes all of them should represent our culture. This
will also help our company employ more people.

We also have some backup workers in-case of emergency. All fully and properly trained to give
out the maximum effort and maintain efficiency.

FINANCIAL PLAN

A) Assumptions:

Every start- up businesses needs to make an assumption about the cost, selling prices and existence
demands of the market of their product and services. We also estimated our product cost; selling
price and quantity we would produce to mitigate the demand of handicraft product. It will help us
to determine the overall sales revenue we could earn. Our assumption is provided below:

Product name Quantity Selling Cost Profit from each product

price (Quantity*(Selling price - Cost))

Naksi Kantha 8400 2500 1000 12600000

sheetal pati 9600 1750 800 9120000
Pillow cover 7200 320 200 864000
Bed-sheet 4200 1250 800 1890000
Terracotta 12000 350 200 1800000
 Traditional 3600 400 250 540000
jewelry
Total profit
from selling 26,814,000.00
product

We assume that there would be 60 labor working to manufacture handicraft product and our per
labor cost for a year could be 120000(monthly 10000) taka .So total labor cost could be 72000
taka. There could be other cost such as transportation cost, machine cost and advertisement cost
which might be total in 1200000 taka. We think we could approximately collect 80% of cash from
our sales revenue and.
B) Projected Income statement:
We assume there will be 10% growth in sales revenue per year and 7.5% growth in cost of goods
sold .We think that the other expenses might remain same over the 5 years except the advertising
cost. We also think our miscellaneous cost will decreases over the year. Our estimated tax rate is
37.5% .Our projected income statement is given below:

year 1 year 2 year 3 year 4 year 5

Sales 50994000 56093400 61702740 67873014 74660315.4
Cost of goods 24180000 25993500 27943012.5 30038738.44 32291643.82
Gross profit 26814000 30099900 33759727.5 37834275.56 42368671.58
Operating expenses:
Salaries 7200000 720000 720000 720000 720000
Electricity bill 130000 130000 130000 130000 130000
rent expenses 600000 600000 600000 600000 600000
Advertising cost 200000 204000 208080 212241.6 216486.432
transportation cost 50000 10000 10000 10000 10000
depreciation cost 60000 60000 60000 60000 60000
Misc. Expenses 160000 148800 138384 128697.12 119688.3216
Total operating expenses 8400000 1872800 1866464 1860938.72 1856174.754
operating income 18414000 28227100 31893263.5 35973336.84 40512496.83
 Interest 300000 300000 300000 300000 300000
net income before taxes 18114000 27927100 31593263.5 35673336.84 40212496.83
Taxes 6792750 10472662.5 11847473.8 13377501.32 15079686.31
net income 11321250 17454437.5 19745789.7 22295835.53 25132810.52

C)Projected Cash flow

year 1 year 2 year 3 year 4 year 5

Sales 40795200 44874720 49362192 54298411.2 59728252.32

Disbursement

Land 10000000 0 0 0 0

Machinery 200000 200000 0 0 0

Equipment 100000 100000 0 0 0

Cost of goods 14508000 15596100 16765807.5 18023243.06 19374986.29

Salaries 7200000 720000 720000 720000 720000

Electricity bill 130000 130000 130000 130000 130000

rent expenses 600000 600000 600000 600000 600000

Advertising cost 200000 204000 208080 212241.6 216486.432

transportation cost 50000 10000 10000 10000 10000

Misc. Expenses 160000 148800 138384 128697.12 119688.3216

Interest 300000 300000 300000 300000 300000

Inventory 100000 101000 102010 103030.1 104060.401

Taxes 6792750 10472662.5 11847473.8 13377501.32 15079686.31

 Total Disbursement 40340750 28582562.5 30821755.3 33604713.2 36654907.76

cash flow 454450 16292157.5 18540436.7 20693698 23073344.56

beginning balance 15000000 15454450 31746607.5 50287044.19 70980742.19

Ending Balance 15454450 31746607.5 50287044.2 70980742.19 94054086.75

D)Projected Balance sheet

year 1 year 2

Total Total
Assets
Curtrent Asset
Cash 15454450 31746608
Account recivable 10198800 11218680
Inventory 100000 101000
Total current Assets 25753250 43066288
Fixed Assets
Land 10000000
Machinay 200000 160000
Depreciation cost -40000
160000
Eqiupment 100000 80000
depreciation cost -20000
80000
Total Fxed Assets 10240000 240000
Total Assets 35993250 43306288
 Liability
Account Payable 9672000 10397400
Owners Equity
Investment 15000000 15454450
Net Income 11321250 17454438
total liability and owners’ equity 35993250 43306288

E) Break even analysis

Average selling price per unit =Total Selling price/total quantity

Average variable Cost per unit=Total variable cost/Total quantity
Break even= Total fixed cost/selling price per unit-variable cost per unit

year 1 year 2
total quantity 45000 45000
total selling price 50994000 56093400
total variable cost 24180000 25993500
total fixed cost 10240000 240000

average selling price unit 1133.2 1246.52

average variable cost per unit 537.3333333 577.6333333

Breakeven 17185 358

F) Source and application of Funds

Source of funds:
Our initial investment is 30000000 taka. We are going to raise our funds from three sources:
➢ Our business partners are capable of investing taka 20000000 by themselves. As we are
five partners that mean each member will invest 2850000 taka to start the business.
➢ Friends and family is a good source of fund to start a business. we will Borrow 5000000
taka from our friends and family
 ➢ The rest 5000000 taka we will borrow from Brac Bank at 10% interest. We will give the
land of Gazipur as collateral which is worth of 5500000 takas.

Application of Funds
➢ Our partners 2 core taka will bear the cost of purchasing initial products and rent expenses.
the labor cost will also be funded from this source.
➢ The money that will be borrowed from the friends and a family will be divided by 2.the
first portion of money which is 25lakh will funded for 20% land accrued in Gazipur and
other 25 lakh will be reserved in the business account.
➢ The money borrowed from the bank will mostly invest in the land of Gazipur and it will
bear other expenses such as advertising.
 APPENDIX
Letter to Bank

December 28, 2022

Rais Uddin Ahmad
Head of Loan
Brac Bank
Anik Tower
220/B, Tejgaon Gulshan Link Road, Dhaka 1208

I want to thank you for the opportunity to present our new business initiative.
ময়ূরাক্ষী craft is currently seeking loan from your bank. Our company is handcraft industry startup
bu siness. Our product has high in demand in market. For now I would be great to get loan from
your bank .

I have enclosed a business plan and would appreciate your assessment. Before reviewing the plan,
could you please sign and return the Confidentiality Agreement that is located just behind the cover
page. Thank you in advance for your time and consideration. Please do not hesitate to contact me
with any questions or comments you may have, and I will respond promptly with any additional
information you require. I look forward to discussing this initiative further after you have
completed your review.
Sincerely

ময়ূরাক্ষী craftSusmita Deb

Managing Director
House-423, Block-C, Chowdhurypara, Dhaka
Market research data

In our market research we found there is high demand of hand craft product in Dhaka city. On the
other hand there is only few B category brand on this industry so it’s high time to introduce new
brand in the industry. People collect handcraft products for their hobby, benefit for it. It is almost
eco-friendly product and our government insists to open eco-friendly industry. From our market
research we are going to open the handcraft product.

lease to contract

WE have land at gazipur and few machineries and equipment which will be purchased by us and
we would be the owner of our all fixed assets. So we don’t need to any contract to list.
price List from supplier

Price list of supplier of each product is given below:

Product name Cost

Naksi Kantha 1000

sheetal pati 800
Pillow cover 200
Bed-sheet 800
Terracotta 200
Traditional jewelry 250
Conclusion

Our business is the retail of the apparel products than as we will expand, we plan to open more
store across Dhaka city and also across all the districts as well because major apparel brand did
not enter into those small markets which basically give us only a very few local competitions. As
our products are unique and represent the heritage if Bangladesh rural culture. The nature of our
business is only few competitors hold. The only competitor that can affect or we see as competitor
is Arong. But our pricing policy will differentiate us and we will get enough customers to do
business. And as we are planning to make our own products from our own garments as well. So,
we will be able to produce our product at a very low cost and with innovative marketing strategy
we will be able to grapes a good number of markets in the coming months.