Ent Business Plan

UNIVERSITI TEKNOLOGI MARA (UiTM)
CAWANGAN KEDAH, KAMPUS SUNGAI PETANI
BUSINESS PLAN (FURNISH LOVE)
Faculty : BUSINESS AND MANAGEMENT
Program : BACHELOR OF BUSINESS ADMINISTRATION

(HONS) OPERATION MANAGEMENT
Program Code : BA244
Course : PRINCIPLES OF ENTREPRENEURSHIP
Course Code : ENT530
Semester : 3
Group Name : KBA2443B
Group Members : NUR NADEEHA BINTI 2022930979

KHAIRUDIN
NUR AINA NADHIRA BINTI 2022923939
MOHAMAD FERIZA
PUTRI AIMAN NAJIHAH BINTI 2022925947
MEGAT MUDZAFFAR
NOR SYAZWANI BINTI ABDUL 2022905573
RAHMAN
NOOR SYAZANI BINTI NOOR 2022988289
NASIR
Submitted to
Madam Azyyati
Submission Date
22 JANUARY 2023
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ACKNOWLEDGEMENT
We would like to express our deepest appreciation to all those who provided the possibility
to complete this project. A special gratitude we would like to give to our respected lecturer,
Madam Azyyati. All gratitude that you have contributed to us are really helpful in order for
us to complete this project. Without guidance, our project would have been incomplete and
imperfect as well as we might have not complete it just on time.
In addition, a special thanks to our friends and both of our parents for their moral support
and their encouragement. We have come to know about many things while completing this
project. Together, we show our best to complete the project and also showing our teamwork.
Finally, we would also like to thank all other people who contributed direct or indirectly to
the elaboration of this project.
We hope that this project has come to its very best. Moreover, we also hope that this project
could help us in terms of contributing pints in getting goods grade in this subject, Principles
of Entrepreneurship. Last but not least, all of us have done our very best to complete this
project. Thank you.
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TABLE OF CONTENTS
Page Number
Contents
1. Executive Summary 4
2. Company Profile 5
3. Environmental Industry Analysis 8
4. Description of Venture 18
5. Operation / Production Plan 21
6. Organization Plan 37
7. Administration Plan 42
8. Marketing Plan 47
9. Financial Plan 65
10. Project Milestone 71
11. Conclusion 72
12. Appendices: 73
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1.0 EXECUTIVE SUMMARY
Furnish Love is a business that is based on a partnership that consists of five responsible
partners which each of them holds important positions such as General Manager,
Administration Manager, Marketing Manager, Operation Manager, and lastly Financial
Manager. Furnish Love is a business that sells and produces products that are home furniture
and mainly made of wood. The company focuses on helping its customers search for their
desired furniture or home decorations to spark more joy in their lives. We believe that a
house is nothing but a big empty space unless you decorate it with love and passion for it.
With that, we provide essential stuff, so people able to live their life in a house that brings
peace for them whether it is for indoor or outdoor use. It is best to believe that designing your
house will have a huge impact on your lifestyle. Our products come in a wide variety of
designs and styles to fit with our customer’s preferences such as dining tables, multi-purpose
sitting room sets for small and spacious rooms, and more pairing with different types of
woods used in crafting the products.
The company is headquartered in Kuala Lumpur where it is the capital city of Malaysia
which emphasises the large opportunity for customers from different states or regions to
come to visit in person. The store lot address is Lot 334, Jalan Kampung Baru, Padang
Temusu, 08000 Sungai Petani, Kedah. The company also launched their own online
platforms such as creating an account on Instagram, Facebook and having their own website
to attract more customers and to get a higher commission. The business is open daily from
9:00 am until 10:00 pm except for Tuesday and Wednesday. Furnish Love also provides
delivery services for any purchase made by the customers. More information will be
discussed in the business plan below.
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2.0 COMPANY PROFILE
ABOUT COMPANY
2.1 COMPANY NAME AND LOGO
Our business name is Furnish Love which is derived from the word “furniture” which
represents furniture with love, while Love stands for the activities that involve skill in making
things purely made out of nature and by hand. These two combinations suggest the fact that
our business is helping every customer to be clear and understand what they are trying to buy,
providing superior customer service and quality products. We help the customer to be more
precise and confident in purchasing our products.
Our goal was to create spaces that allow families to focus on each other and their future. Each
year since, we’ve continued to deliver on the promise of creating functional and beautiful
living environments with all the furnishings families need to feel at home and thrive.
2.1.1 VISION AND MISSION
VISION
- Offer the finest wooden furniture that is sustainable and reliable to all over world and
become number one chosen furniture company in customer eyes from other countries.
MISSION
- Furnish Love have a mission to transforms empty housing into uplifting homes for families
coming out of homelessness. We professionally design and fully furnish nourishing,
beautiful, and functional spaces that allow families to focus on each other and their futures.
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2.2 Nature of Business
Furnish Love mainly focuses on producing and selling home furniture. We provide stylish
and quality products such as dining tables, chairs, decorations, and many more that are purely
made from wood. We provide a store that is filled with our products in which the customers
can come and visit to observe each quality and desired product that they want. Our products
come in a wide variety of designs and styles to fit with our customer’s own preferences.
Solely focusing on woodcraft, we provide the highest quality of our products in which we are
more specialised in supplying products that are made out of different types of woods such as
hardwood like oak, blackwood or jarrah and also softwood such as hoop pine, celery top pine
or pinus radiata. We believe that wood is a long-lasting material and perfect for anyone that is
looking for a natural-looking house or space. It helps in adding a certain dignity and charm in
any part of the living space whether it is lighter-coloured wood or even rich darker wood
alongside crafted by a skilled artisan which enriches the amount of potential for designing the
house that is desired. We also provide other convenience alternatives for customers who are
not able to come to our store in person in which we launched online platform, so they are able
to scroll through the products. With the existence of social media, we promote our business
through our own page of Instagram, Facebook, and even our personal website,
www.furnishlove.com. Through online purchase, we will deliver the goods in front of their
house after detailed check-ups of the products. This is because we truly value our customer’s
time and money, so such investigations are needed so they are satisfied with their decisions.
Additionally, it is our main objective to always give a comfortable experience for the
customers where staff are essential to provide their best services in greeting the customers in
a friendly and inviting atmosphere to implement superior customer service. Our trained staff
will provide counsel and help for the customers to complement their preferences, so they are
able to walk out of the store without regretting any choices that they have made. We believe
that the way we conduct our business is important in maintaining our relationship with the
customers as it is our job to provide the best for the customers and fulfil their demands. It is
best to believe that the highest quality of the products and good customer service will help us
to attract more customers.
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2.3 BUSINESS BACKGROUND
NAME OF BUSINESS FURNISH LOVE
BUSINESS ADDRESS LOT 334, JALAN KAMPUNG BARU,

PADANG TEMUSU, 08000 SUNGAI
PETANI, KEDAH
CORRESPONDENCE ADDRESS LOT 334, JALAN KAMPUNG BARU,
PADANG TEMUSU, 08000 SUNGAI
PETANI, KEDAH
WEBSITE www.furnishlove.com
EMAIL furnishlove@gmail.com
TELEPHONE NUMBER +60138251981 / 03 462815
FAX NUMBER 03 1459176
FORM OF BUSINESS Partnership
MAIN ACTIVITY Produce wood furniture
DATE OF COMMENCEMENT 1 January 2019
DATE OF REGISTRATION 1 January 2018
REGISTRATION NUMBER 00861723-A
NAME OF BANK Maybank Berhad
BANK ACCOUNT NUMBER 164856144180
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3.0 ENVIRONMENTAL INDUSTRY ANALYSIS
3.1 Convey to the investor that the company and product truly fill an unmet need in the
marketplace.
Our company is very assured with our product position in the Malaysia market because we
supply a handmade products and perfect services that are not similar from other companies
out there. A home furniture products are always on demand and in needs for peoples who are
just getting their new home or for those who want to upgrade their old furniture to the trendy
one. Hence, the investor will be confident that our products will successfully marketed in this
nation. Furthermore, in Malaysia, even though there are a lot of furniture store that selling
furniture product, but unfortunately their product are not as good as us in term of quality and
the uniqueness of the design. This is because our company only use a premium-grade of
woods and works with many Malaysian interior designers to create stylish furniture and a
consumer-friendly collection. Thus, we believe that the products we offer can deliver services
that will satisfy customers as we have a skill in creating the best furniture and also
professional customer service which we will provide for them.
3.2 The characteristics that set the product and company apart from the competition
need to be identified (competitive advantage).
The feature of our company’s products may be identical with other companies because we
offer many types of furnitures that what a house is needed in each category. However, in our
business, we're offering a brand-new service that has never been created before by any other
companies which is DIY Furnish Love. It is a mobile application that customers can install it
from Appstore or Playstore. In this application, customer can create and design their own
furniture according to their taste and we also provide a chatbox to customer if they need our
help. This feature also can be found in our website too.
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3.3 The industry and trends in which the company operates should be identified.
The factors that affecting the demand of our company are price, quality and also taste. In
order to investigate the market demand of our furniture, analysis has been made. The price
that has been stated might has another change depend on the trend of our economic but still
our company will try our best to give an affordable price to the customers. Next for quality, it
is the most important thing as good quality will attract more demand from the customers. Our
company will provide the best quality of product using the new materials that are more
famous currently. Lastly is taste. We will provide a product based on the current style and
design in line with the latest generation. Nowadays, more people like to decorate their house
with simple design but look exclusive to the naked eyes.
3.4 Analysis predictions for your industry or market segment
One of the key components of marketing is market analysis. Market analysis can be define as
complete assessment of company’s target market and fierce environment within a particular
industry. In addition to qualitative information about consumer values, aspirations, and
purchasing intentions, market analysis also contains quantitative information about the size of
the market the company actually want to service, pricing consumers are prepared to pay, and
revenue estimates. For our business, our target market are for adults who are just buying a
new house, adults who want to upgrade their taste of style and also those who are a newlywed
couples. Basically, our main target for customers who are age around 25 and above.
 Geographic Segmentation
Furnish Love would target urban and semi-urban areas with a high population density.
Besides, the population in an urban area is more crowded than the rural areas which
can help to gain more revenue. Our company plan to locate our outlet in a strategic
venue that will attract a huge number of people every day. This venue was chosen
based on many kind of factors, including infrastructure, transportation, and
environmental concerns.
 Demographic Segmentation
Marketers commonly divide markets based on demographic information because it is
widely available and always related to customer purchasing and consumer behaviour.
This type of segmentation could help us in identifying a trend that might influence
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future spending patterns in the market. Furnish Love only identify age, gender, and
monthly gross household income when purchasing high-quality wooden furniture.
 Psychographic Segmentation
Psychographic segmentation split the market into groups based on the lifestyle of the
customer. Our company are looking for customers who want their homes to be
comfortable, stylish, and reflect their personality. We target people who appreciate a
modern rustic look that can add dignity and charm to any room in the house. In
addition, we focus on customers who would rather to buy small furniture that can fit
in their home while still leaving sufficient space for them to move freely.
3.5 Description of the industry in which your company operates or will operate
 Structure
The structure of our company lead by the General Manager and then is divided into
four division consist of department of administration, department of operation,
department of marketing and lastly department of financial.
 Size
Our business belongs to medium sized-business or under the group category of
business owners of small and medium enterprises (SME). The amount of our capital
is about RM500,000 per year and the number of workers is around 7 employees.
 Major factors affecting market growth

Whether they are favourable or unfavourable, the market's influencing elements will
have an impact on our business. There will be the time where our country economic is
not in a positive way so there will be inflation where all raw materials and products
automatically the price is increasing. Other than that, if we make an innovation of our
product, the first time user will be amazed with it but after for several years people
can’t accept it anymore as there are more innovation that are more creative and easy
to use.
 Industry trends
Industry trends are patterns or trends that take place within a specific industry. These
trends may correlate to price, cost, consumer purchasing, marketing, manufacturing,
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sales methodology or any other number of areas. Trends happen in every industry and
can give companies with important data to help them stand competitive in the
marketplace. In despite of rising prices for goods and taxes, Malaysian consumer
behaviour trends are still stable, and the country's populace continues to spend money
on goods and services. For our products, we will set it from lower price to higher
price depend on the quality of wood that the customer choose and according to the
analysis of customer. The trend of having a futuristic furniture can be seen in social
media platform such as TikTok.
 Market trends
In Malaysia, there are the times when people prefer an old style of design and there
are also those who love the aesthetic and unique the design and this is based on their
preferences. Mostly old generation still prefer the old design while the younger
generation prefer the aesthetic one. So, to make it fair we will provide both style so
that everyone can get their desire furniture.
 Competitive environment
In our area where we set up our company, the competitive environment is very fine
with other companies who are selling the same products like us. This is because our
location with other competitors are not very near with each other which doesn’t make
us feel to worry for having a competitor.
 New entrants
Being the newcomers in the industry, we are making sure that our company will be a
huge different from other companies. We should strengthen our suppliers' abilities in
producing the furniture and getting a great worker who can deal with a lot types of
customer. Our company will provide the best and stylish furniture with a good quality
along with the current trend to our beloved customers. We also prepare a website and
mobile application for easy purchasing for customers who are more likely to shop
online rather than offline shopping.
 Key Technologies
For technology, we introduce a mobile application for our customer which is DIY
Furnish Love. This application is create for customers who want to design their own
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furniture based on their style and also taste. With this application, customers are
enable to design their own furniture and also another feature that we include is
customers can choose whether they want us to send the products direct from our store
or which means by post or they can also choose option walk-in where they can pick-
up it by themselves. It is same goes to how they want to pay whether using online
transfer or by cash. By developing this kind of application, customers can has a
chance to convey their creativity with making their own furniture.
3.6 Products/Service
 Differences between what is currently on the market and what we will offer
Our products is different in term of design and quality. This is because we are
following the current trend of style for our furniture that are more focus on simple but
yet minimalist. In term of quality, we only use the best materials to make our furniture
more long lasting to use. Other than that, we develop a website and also mobile
application for customer to create their own design and style of furniture based on
their liking.
 Detail each product or service :
(a) Primary end use and significant secondary applications
Our company use design of the furniture based on what our supplier has made. Before
that, we will filter the design that come to us to make sure that we only deliver the best
and unique design to our customers. The company is dedicated to give a good quality of
product and at the same time following what customer’s needs. All of our products can be
purchase in our store whether it is new product or display product.
(b) Benefits of product
The product that we offer is suitable for all interior design so customers no need to spend
money to buy new furniture when they change the interior design and also it is easy for
people to keep their things in a specific storage to make it more neat. Other than that, it’s
adding more comfort, durability, organization to home even any place that suitable to use
which added an interactive personality to that space.
(c) Unique features
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For this section, our product unique features are depending on the design. For each design
of our product there will be an advantages to make the customers feel stunned with our
products. As example for wood wardrobe, we will introduce a sensory touch where
customers only need to place their hand at the sensor for the wardrobe to open.
(d) Any possible drawbacks of the product or service
The supplier is not good at handling the products when they are delivering to our store.
The product might be broken during the delivery because of their careless. Another
problem is that the mobile application that we created maybe not suitable for older
generation to use as they are not very familiar with the current technology.
(e) Present state of development of the product
In the future, we will introduce more product that made with other materials rather than
only wood. As example, the metal, textile and lastly glass. This will add more variety of
our product for customers to choose.
(f) Time and money required to fully develop, test, and introduce
The time taken to completely build and introduce our product is around 1 year and the
initial money to test the product is about RM500,000.
(g) Competitive advantage over the competition
The company launch a new type of service that has never been created by any other
furniture’s company and it is our very own mobile application and also website . For this
mobile application and website, customers can design their own furniture based on their
taste and they also can choose the method of delivery and how they want to pay. It is easy
and can save a lot of time.
(h) Opportunities for the expansion of the product line
Within the future, we will try our best to improve our products line-up. We will introduce
more furniture that we never sell before. For example, shoes wardrobe and cloth hanger.
Other than that, we will be entering some other materials that are suitable for creating the
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new furniture or readymade furniture. Lastly, we want to expand our product to the
international market but we will start with the South East Asia countries first.
 Technologies / Special Know-how:

(a) Aspect of our product that will be protected by current IP or patent law
The trademark that we made will be protected by the patent law. So, whoever try to steal
our idea and pretend to be us, we will immediately lodge a report.
(b) Provide evidence of how we offerings are different from the competition
Our company is very different from other companies in so many aspects. We believe that
our service is better and fast response with the invention of our mobile application which
is DIY Furnish Love. With the invention of this application, it will help our customers to
purchase our furniture easily by just a single click. Some of customers maybe don’t want
to look for a whole store when they want to choose their product but by this application
they are able to scroll it from their house to look for the designs that they want. There are
so many designs and materials that we provided to choose from compare to another
companies that has only a few designs and very old fashion in term of designs in current
situation.
(c) Development status of product(s):
o Time frame
Start date End date

Project Kick-off 1 January 2018 4 January 2018
Business Requirement 5 January 2018 31 March 2018
Customization of Product 1 April 2018 31 May 2018
Finishing up design and development 1 June 2018 31 August 2018
Placing an Order for Supplies in 1 September 2 October 2018
Production Quantities 2018
Beginning of operations or production 3 October 2018 31 December
2018
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Initial Release 1 January 2019 16 January 2019
First Orders Received 17 January 2019 22 January 2019
Delivery of First Sales 23 January 2019 23 January 2019
o Resources requirements
We want a variety of products from suppliers across the nation but we prefer to
has the one that near with us. We also want a few workers to promote our store
and manage the furnitures. We will buy our products in a bulk but with a good
designs that meet with our customer preference to save more money on delivery.
o Difficulties and Risk

The product difficulties of our furniture is when it started to not functioning well
which is it easily to broken because the wood already becoming too old and
fragile. For the risk of product, it happen when termites are attracted with the
woods if customer’s house has this insects. They will started to destroy the
furniture by eating it until the product is not pleasing to look at.
o Design and development stages

Firstly, we will make a meeting between our party to discuss on design and
material that will meet with customer preference. Then, the general manger and
also the operation manager come up with the concept for application in the mobile
phone and start to draw their prototype. After done sketching the prototype,
operation manager will find the right suppliers to deal with for looking the best
raw materials and also for those who can make our design and can provide their
best design to us to accept selling it in our store. Then they receive the sample
prototype from a few suppliers to make a test which one is the best in term of
quality and also design.
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(d) Technological advantage:
o Patent, trademark, copyright, or intellectual property rights

Our company will make patent to our design that are originally and made from us
so that no one can steal our ideas. For trademark, we will put our logo that can be
teared of after customers purchase our product in each of of the product as a part
of branding.
o Extent of search for infringement licenses

We will find a strong evidence first for those who copy us and with infringement
licenses then after that we will lodge a report to the police and will up the case to
the court.
(e) Product improvement and new products:
o Costs
The company need a lot of money but they will prepare a sufficient amount to
improve the current product and also to develop the new one. The price that will
be sell to customers is still affordable and not too pricey.
o Time frame
Start date End date

Find the problem of current product 6 June 2019 15 June 2019
Make an improvement 16 June 2019 2 August 2019
Started to sell to the customers 3 August 2019 -
Develop and idea for new products 4 October 2019 13 October 2019
Started to sketch and deliver the 14 October 2019 21 November 2019
prototype to the supplier
Make a test 22 November 2019 25 November 2019
Ready to sell at the physical and 26 November 2019 -
online store
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o Resource requirements
We are still using the same suppliers because we are satisfied with the outcome
that they made but at the same time we are looking to add another supplier so that
our product is always enough and can be ready stock items.
o Difficulties and risks

The difficulties during the time we make an improvement and develop a new
product is of course to find the right supplier. We already look at the result of
work of each supplier that we survey but none of them meet our requirement. So,
we are currently still looking for the best supplier. Meanwhile for risk, not
everyone will buy or accept our new product if the price is high so the power of
purchasing will be decreased.
o Design or development stages

The first step is we found out the problem of our current product. Then, we try to
adjust it by making a little bit changes in it. After the changes, we try to make a
test of our product and if it already in good condition then we proceed to sell it but
if there is still has a problem then we need to try and error until we satisfied with
our work. For the new product, first thing we will gather our ideas and the most
creative idea will be chosen. After that, we sketch the product that we want to
make and when we are satisfy with the product, we will send the sketch to our
supplier. Then, our supplier send the sample of prototype for us to make a test
before launch it to the public. Lastly, if the product is all in perfect condition then
we are ready to sell it in our store.
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4.0 DESCRIPTION OF VENTURE
4.1. Opportunity
 Describe the general nature of company

Furnish Love is mainly focuses on producing and selling home furniture. We provide
stylish and quality products such as dining tables, chairs, decorations, and many more
that are purely made from wood. Our products come in a broad variety of designs and
styles to suit with our customer’s own preferences. Concentrating only on woodcraft,
we offer the highest quality of our products in which we are more specialised in
supplying products that are made out of different types of woods such as hardwood
like oak, blackwood or jarrah and also softwood such as hoop pine, celery top pine or
pinus radiata. We are very sure that wood is a long-lasting material and perfect for
anyone that is looking for a natural-looking house or space. It helps in adding a
certain dignity and charm in any part of the living space whether it is lighter-coloured
wood or even rich darker wood alongside crafted by a skilled artisan which enriches
the amount of potential for designing the house that is desired.
 Problem will the company’s product or service solve

Our product will solve the problem for those who don’t have any furniture yet as they
maybe a newlywed couple or an adult who just purchasing their own house. We will
also solve the problem for people who are looking for trendy and stylish furniture by
providing the current style of design to the public. Other than that, we can solve the
problem to people who are busy and don’t have time to come to our store by develop
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a website and also mobile application where they can choose whatever design they
want and can also custom made. After that, we will deliver the product that they
purchase straight in front of their house and this can save a lot of time for people who
are really busy with their personal life.
 Value Proposition
Furnish Love aims to differentiate our self from our competitors by using skilled
craftspeople to create some of our product designs. Handmade crafts are usually more
meaningful and unique as each design is made with care and love. Moreover, we are
very sure that people would want furniture that can be used for a long lifespan. So, to
achieve that objective, we produce wood-based furniture that is balanced in terms of
style and quality for our customers. On top of that, the company believes that
everyone has different tastes and preferences for their home interior. Therefore, we
decide to offer our customers a custom-made service to meet any specific design
requests that they want.
 The reasons for our company to success

There are many factors why our company will achieve the success. One of the reasons
is because we provide a good quality of product by using a premium raw materials but
selling it at the cheaper price. This movement will automatically attract the public as
nowadays it is really hard to find the premium furniture at an affordable price. Other
than that, we also make an event like lucky draw to our customers so that they will
always repurchase with us anytime. This is also the way to promote our business
besides promoting on social medias and make a poster.
 Demonstrable customer demand :

Customer demand for Furnish Love product is mainly in town or also call as urban
areas. The location of demand will be the centre of Sungai Petani where there are
some of other company who are doing the furniture business like us. The public can
choose any store that they want to purchase the furniture but we are gladly to say that
our product become the demand of the public more than other store. This is because
we are located at the strategic place. The public around us are most likely those who
are in a working sector and this group of people are more interested in purchasing our
product because they can afford to with the amount of salary that they get.
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4.2 Outlook / Benchmarks / Timelines:
 The major events that will take place in the short and long-term future
Our company will make more marketing by promoting our product in all social media
platforms like Instagram and also Tiktok. We also have a plan to set up a Shopee
account and also Tiktokshop as people nowadays are more likely to purchase from
those platforms. Other than that, we will more active in the social media by started to
sell our product in live video so that people can recognize our product. In the future,
we want to open a new branches in each states so that all people across the nation can
enjoy and feel our products by themselves. This is because it is more satisfying to
look at the product in the physical store rather than online as they can experience it.
Lastly, in order to satisfy the growing demand from customers, we will also diversify
our product by providing more products in the future.
 Milestones (See at section project milestones)

o Complete management team
o Product development stages (proto-type, etc.)
o Production capability
o Customer acquisition
o Breakeven
o Cash flow positive
o Funding
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5.0 OPERATIONS AND PRODUCTION PLAN
Production and operations management involve three main types of decisions, typically made
at three different stages: Production planning, production control, and improving production
and operations. Production planning involves long-term, medium-term and short-term
planning. Long-term planning focuses on which goods to produce, how many to produce, and
where they should be produced. Medium-term planning decisions cover about two years and
concern the layout of factory or service facilities, where and how to obtain the resources
needed for production, and labor issues. Short-term planning, within a one-year time frame,
converts these broader goals into specific production plans and materials management
strategies. Four important decisions must be made in production planning: the type of
production process that will be used, site selection, facility layout, and resource planning.
5.1 FACILITIES AND IMPROVEMENTS
The location chosen is crucial because it affects sales revenue, business operation costs,
and long-term investment. One of the reasons we chose Lot 334, Jalan Kampung Baru,
Padang Tenusu, 08000, Sungai Petani, Kedah as our production site is that it is the most
appropriate place where all industrial location factors are available. However, some factors
need to be considered in order to select a strategic location for our company.
5.1.1 Location
Furnish Love will be located at Lot 334, Jalan Kampung Baru, Padang Tenusu, 08000,
Sungai Petani, Kedah.
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Furnish Love
5.1.2 Operation Layout
5.1.3 Business and Operation Hour
The business and operation hours in our business are as follow:
Business Hour 11 Hours (9.00 a.m. – 10.00 p.m.)
Operation Hour 15 Hours (8.00 a.m. – 11.00 p.m.)
Working Days 5 days per week (Thursday – Monday)
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5.2 MACHINERY AND OTHER CAPITAL EQUIPMENT
5.2.1 Machinery
Cost Per Total

Item Image Quantity
Unit (RM) (RM)
Cross-Cut Saw
2 720 1,440
Machine
Rip Saw
2 600 1,200
Machine
Wood Shaper
1 12,800 12,800
Machine
Sander Machine 1 700 700
Wood Stain
1 15,000 15,000
Machine
TOTAL 31,140
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5.2.2 Capital Equipment
Cost Per Unit

Item Quantity Total Price (RM)
(RM)
Electric Forklift 3 7,500 22,500
Marking Gauge 10 40 400
Try-Square 10 25 250
Carpenter’s Vice 10 130 1,300
C-Clamp 10 18 180
Jack Plane 10 70 700
Chisel Set 10 40 400
Hand Drill Carpenter’s Brace 5 55 275
Cordless Drills 5 218 1,090
Claw Hammer 10 53 530
Wood Rasp File 10 14 140
TOTAL 27,765
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5.2.3 Raw Material
Safety Stock Total Price Per

Total Price
Item Quantity (10% of Material Unit
(RM)
Quantity) Requirement (RM)
Oak 6,000 pieces 600 pieces 6,600 pieces 17.90 118,140
Blackwood 6,000 pieces 600 pieces 6,600 pieces 21 138,600
Jarrah 6,000 pieces 600 pieces 6,600 pieces 20 132,000
Hoop Pine 6,000 pieces 600 pieces 6,600 pieces 18 118,800
Celery Top Pine 6,000 pieces 600 pieces 6,600 pieces 20 132,000
Pinus Radiata 6,000 pieces 600 pieces 6,600 pieces 22 145,200
Wood Screws 59,682 units 5,968 units 65,650 units 0.40 26,260
Water Resistant
1,000 units 100 units 1,100 units 10 11,000
Glue
TOTAL 822,000
5.2.4 Total Expenses
Item Total
Machinery RM 31,140
Capital Equipment RM 27,765
Raw Materials RM 822,000
Total RM 880,905
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5.3 FUTURE CAPITAL NEEDS
5.3.1 Timing
Production planning entails determining and arranging the facilities required for future
operations. The company will decide how much production to generate in a given time
period, such as a day, week, or month. It may require data from all marketing plans, such as
the average sales projection.
NUMBER OF OUTPUT NUMBER OF OUTPUT TIME OF WORKING

ITEMS
PER MONTH PER DAY PER HOUR
Average Sales Forecast per Number of Working Days Daily Working Hours
Month per Month
= 15 Hours
= RM 22,826,100/12 = 20 Days (5 Days/Week)
= RM 1,902,175
Number of Units per
Number of Output per Day Hour
Sales Price = RM 5,000 = Number of Output per = Number of Output per

LIVING
Month/ No of Working Day/ Daily Working
ROOM
Days Hours
Number of Output per Month = 380 Units/ 20 Days = 19 Units/ 15 Hours
= Average Sales Forecast per = 19 Units = 1.3 @ 1 Unit

Month/ Sales Price
= 1,902,175/RM 5,000
= 380 Units
DINING Average Sales Forecast per Number of Working Days Daily Working Hours
ROOM Month per Month
= 15 Hours
= RM 22,826,100/12 = 20 Days (5 Days/Week)
= RM 1,902,175
Number of Units per

Month/ No of Working Day/ Daily Working
Days Hours
= Average Sales Forecast per = 13.6 @ 13 Units = 0.9 @ 0 Unit

Month/ Sales Price
26 | P a g e
= 1,902,175/RM 7,000
= 272 Units
Average Sales Forecast per Number of Working Days Daily Working Hours
Month per Month
= 15 Hours
= RM 22,826,100/12 = 20 Days (5 Days/Week)
= RM 1,902,175
Number of Units per

BEDROOM Month/ No of Working Day/ Daily Working
Days Hours
= Average Sales Forecast per = 20 Units = 1.3 @ 1 Unit

Month/ Sales Price
= 1,902,175/RM 4,750
= 400 Units
5.4. OPERATING CYCLE

5.4.1 Process Chart
The figure shows the process chart that will be using symbols that are universally recognized
in the operation management field.
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5.4.2 Process Flow Chart
Flow Chart of Manufacturing Wooden Furniture
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5.4.3 Activity Chart
5.4.3.1 Process Flow Chart for Walk-In Store
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5.4.3.2 Process Flow Chart for Online Store
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5.4.4 Quality Control, Production Control and Inventory Control
As a furniture manufacturer, the quality of our products is very important. To ensure our
customers' satisfaction, we have implemented a comprehensive quality control system
throughout our production line. This system involves both in-process and post-production
testing to monitor and improve the quality of our furniture.
In-process testing takes place at every step of the production process, ensuring that any
defects or imperfections can be spotted before the furniture reaches its final stage. Post-
production testing then further validates the quality of our furniture, verifying that the end
product meets both our own and industry standards. We understand that customer satisfaction
is the cornerstone of any successful business, and we are dedicated to meeting those
expectations.
Next is production control. Time management is crucial for us to meet our sales forecast
because it helps with production control. Additionally, we have to promptly meet our
customers' needs, so that the goods can be delivered on time and with high-quality standards
in mind. Furnish Love ensures that the production process is able to meet our sales forecast.
Lastly, there is inventory control. Inventory control is necessary to ensure that all raw
materials, work-in-progress, and finished goods are all accounted for in an efficient manner.
Furnish Love made the decision to use a software programmer called MRPeasy to manage
and monitor the supplies that are needed to produce the furniture. This software programmer
is an invaluable asset that provides Furnish Love with the ability to manage and track all
orders, creating a just-in-time system for the production of furniture that ensures that the
company has what it needs, when it needs it. By using this software programmer, Furnish
Love is able to manage their inventory with a high degree of accuracy and increase the
efficiency of their operations.
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5.5 STRATEGY AND PLANS
As a newbie to the sector, we buy raw materials from other companies and adapt them to
make our own product, which is furniture. We will ensure that our employees have the
essential abilities to run the business and deliver high-quality products for our clients. Aside
from that, we will run seasonal offers during the festive season.
5.5.1 Make-or-buy Policy

A make-or-buy policy is a business decision-making process that determines whether items
or services should be produced in-house or outsourced. This decision is influenced by the
price and quality of the goods or services, as well as the time required to make them. A make-
or-buy approach can help organizations save money because outsourced production is
frequently less expensive than in-house manufacturing. It can also assist firms in focusing on
core activities by freeing up resources for more critical activities by outsourcing jobs that are
not part of the company's core capabilities.
Therefore, Furnish Love decided to buy all of the machines and equipment that will be used
for making furniture instead of attempting to produce them in-house. By buying the machines
and equipment, Furnish Love can save money as well as have access to high-quality
machinery and equipment that are being sold by other companies specializing in
manufacturing such items.
Furthermore, since Furnish Love will have all of the machinery and equipment on hand to
quickly produce high-quality furniture, producing furniture based on designs made by the
company's employees will be made simpler. Furnish Love will be able to concentrate on their
core tasks, like designing, marketing, and offering customer service, since this will give them
more time and resources.
In conclusion, investing in the machines and equipment will not only allow Furnish Love to
save money in the long run, but also enable them to produce furniture of high quality more
efficiently, freeing up resources and time for them to focus on their main tasks.
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5.5.2 Subcontractors and Suppliers
5.5.2.1 Supplier of Machine and Equipment
Product No Machine and Equipment Supplier

200 Marking Gauge
201 Try – Square
202 Carpenter’s Vice
203 C – Clamp
MR. MARK TOOLS SDN
204 Jack Plane BHD
205 Cross – Cut Saw Machine
206 Rip Saw Machine
No. 7, Jalan Indah Gemilang
207 Chisel Set 5, Taman Perindustrian
208 Sander Machine Gemilang, 81800 Ulu Tiram,
Johor Bahru, Johor,
Hand Drill Carpenter’s Malaysia
209
Brace
210 Cordless Drills
211 Claw Hammer
212 Wood Rasp File
NB MACHINERY SDN
BHD
213 Wood Shaper Machine
D2-2 Medan Connaught

Center Point, Jalan 3,144A,
214 Wood Stain Machine Taman Len Seng, 56000
Cheras, Kuala Lumpur,
Malaysia
JUNGHEINRICH LIFT
TRUCK MALAYSIA SDN
BHD
215 Electric Forklift

No. 22A, Jalan Anggerik
Mokara 31/47, Seksyen 31,
40460 Kota Kemuning, Shah
Alam, Selangor, Malaysia
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5.5.2.1 Supplier of Raw Material
Product No Material Supplier
100 Oak
WOODSLAB CHENG TRADING
101 Blackwood Light Industrial Estate, No. 4, Jalan 2/108d,

Sungai Besi, 57100 Kuala Lumpur, Federal
Territory of Kuala Lumpur.
102 Jarrah
103 Hoop Pine

MONTCO SDN BHD
104 Celery Top Pine Bangunan Perdagangan D7, 51100 Kuala

Lumpur, Wilayah Persekutuan Kuala
Lumpur.
105 Pinus Radiata
106 Wood Screws ACTION BOLTS
32, Jalan Tiaj 2/1, Taman Industri Alam

Jaya, 42300 Bandar Puncak Alam,
107 Water Resistant Glue Selangor, Malaysia.
108 Wooden Crates SC WOODEN PRODUCT

MANUFACTURING SDN BHD
Lot. 30444, Jalan Sellathevan, Batu 4,

Kampung Jawa, 40470 Shah Alam,
109 Wooden Boxes Selangor Darul Ehsan, Malaysia.
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5.6 REGULATORY AND LEGAL ISSUES
5.6.1 List of Licenses, Permits and Regulations
No Items Types Remarks
Work Permits for Foreign

1 Permits Immigrant Department of Malaysia
Workers
Dewan Bandaraya Kuala Lumpur

2 License for Signboard License
(DBKL)
Suruhanjaya Syarikat Malaysia

3 Business Registration License
(SSM)
4 Driving License (E) License Jabatan Pengangkutan Jalan (JPJ)
35 | P a g e
6.0 ORGANIZATIONAL PLAN
Organizational planning is known as the process of identifying a company's purpose for
existence, setting objectives targeted at reaching maximum potential, and generating more
specific tasks to accomplish those goals. Each planning step is a subset of the previous one,
with strategic planning being the most important.
6.1 Organizational chart
GENERAL MANAGER
NOR SYAZWANI BINTI ABDUL
RAHMAN
ADMININSTRATION OPERATION MARKETING FINANCIAL

MANAGER MANAGER MANAGER MANAGER
NUR AINA NADHIRA NOOR NUR PUTRI AIMAN
BINTI MOHAMAD SYAZANI NADEEHA NAJIHAH BINTI
FERIZA BINTI MOHD BINTI MEGAT
NASIR KHAIRUDIN MUDZAFFAR
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6.2 Organization
KEY MANAGEMENT ROLES NAME

General Manager NOR SYAZWANI BINTI ABDUL RAHMAN
Administration Manager NUR AINA NADHIRA BINTI MOHAMAD
FERIZA
Marketing Manager NUR NADEEHA BINTI KHAIRUDIN
Financial Manager PUTRI AIMAN NAJIHAH BT MEGAT
MUDZAFFAR
Operation Manager NOOR SYAZANI BINTI MOHD NASIR
37 | P a g e
6.3 Key Management Personnel
NAMES POSITIONS CAREER HIGHLIGHTS
NOR SYAZWANI General Strategic planning, operational efficiency

BINTI ABDUL Manager improvement, team development, and hospitality
RAHMAN project management specialist. Capable of quickly
comprehending tough concepts, detecting and
solving problems, translating ideas into logical
strategies, and implementing systems that increase
productivity, customer satisfaction, vacancy rates,
and profits.
NUR AINA Administration Great organizer who handles small and large
NADHIRA BINTI Manager administrative staff. Organizes meetings,
MOHAMAD conference calls, itineraries, and spreadsheets.
FERIZA Effective management emphasizes workplace
efficiency.
NUR NADEEHA Marketing Implemented aggressive sales techniques and

BINTI Manager marketing initiatives to boost revenue and repeat
KHAIRUDIN customers.
PUTRI AIMAN Financial Functional and technological evaluations have

NAJIHAH BT Manager helped Financial Manager improve work process
MEGAT efficiency and profitability. Successfully advised
MUDZAFFAR multibillion-dollar companies, small enterprises,
and individuals. Asset allocation, investment
strategy, and risk management are skills.
NOOR SYAZANI Operation Effective Operations Manager with expertise

BINTI MOHD Manager managing teams, scheduling, changing processes
NASIR and policies, and handling customer service,
accounts receivable, invoicing, and payroll.
38 | P a g e
NAMES POSITIONS DUTIES AND RESPONSIBILITIES
NOR SYAZWANI General  To design, execute, and oversee overall

BINTI ABDUL Manager company management.
RAHMAN  To plan and monitor the company's strategic
progress.
NUR AINA Administration  Plan and manage administrative processes and

NADHIRA BINTI Manager systems, as well as devise techniques to make
MOHAMAD operations more efficient.
FERIZA  Recruit and train employees, as well as assign
duties and office space.
NUR NADEEHA Marketing  Oversee the production of promotional goods

BINTI Manager and advertisements.
KHAIRUDIN  Predict sales, price adjustments, and costs, as
well as advise management on trends and set
sales budgets.
PUTRI AIMAN Financial  Creating a financial plan that forecasts

NAJIHAH BT Manager revenue, expenses, and financing requirements
MEGAT for a certain time period.
MUDZAFFAR  Obtaining funding for the business's operations
and investments, as well as chasing the best
borrowed money and income obtained from the
sale of corporate ownership.
NOOR SYAZANI Operation  Managing the whole operation's process from

BINTI MOHD Manager start to finish, including design, control,
NASIR performance assessment, and optimization.
 Assisting with activity coordination with
managers in other functional areas of the
organization.
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6.4 Management Compensation and Ownership
NAMES POSITIONS MONTHLY SHARE OF AMOUNT OF

SALARY OWNERSHIP EQUITY
INVESTED
NOR General 2,800 29% 50,000
SYAZWANI Manager
BINTI ABDUL
RAHMAN
NUR AINA Administration 2,500 12% 20,000
NADHIRA Manager
BINTI
MOHAMAD
FERIZA
NUR Marketing 2,000 18% 30,000
NADEEHA Manager
BINTI
KHAIRUDIN
PUTRI AIMAN Financial 2,500 23% 40,000
NAJIHAH BT Manager
MEGAT
MUDZAFFAR
NOOR Operation 2,000 18% 30,000
SYAZANI Manager
BINTI MOHD
NASIR
6.5 Supporting Professional Advisors and Services
NAME OF PROFESSIONAL ADVISORS SERVICES PROVIDED
40 | P a g e
Irfan Othman (Personal Financial Advisor at Assist individuals in saving, investing,
Maybank) and growing their money while being
financially secure.
7.0 ADMININSTRATION PLAN

7.1 Organization Chart
GENERAL MANAGER
NOR SYAZWANI BINTI ABDUL

RAHMAN
ADMININSTRATION OPERATION MARKETING FINANCIAL

MANAGER MANAGER MANAGER MANAGER
NUR AINA NADHIRA NOOR NUR PUTRI AIMAN

BINTI MOHAMAD SYAZANI NADEEHA NAJIHAH BINTI
FERIZA BINTI MOHD BINTI MEGAT
NASIR KHAIRUDIN MUDZAFFAR
7.1 Manpower planning

POSITION NUMBER OF PERSONNEL
General Manager 1
Administration Manager 1
Marketing Manager 1
Financial Manager 1
Operation Manager 1
TOTAL 5
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7.2 Schedule of Remuneration
POSITION QUANTITY MONTHLY EPF SOCSO TOTAL

SALARY 12% 2.5% AMOUNT
(RM) (RM) (RM) (RM)
General 1 2,800 336 70.00 3,206.00
Manager
Administratio 1 2,500 300 62.50 2,862.50
n Manager
Marketing 1 2,000 240 50.00 2,290.00
Manager
Financial 1 2,500 300 62.50 2,862.50
Manager
Operation 1 2,000 240 50.00 2,290.00
Manager
TOTAL 5 13,511.00
7.3 Office Furniture

TYPE QUANTITY PRICE/UNIT TOTAL
(RM) (RM)
Office desk 10 120.00 1200.00
Chair 16 45.00 720.00
File cabinet 4 200.00 800.00
Drawer cabinet 2 170.00 340.00
Dustbin 4 2.00 8.00
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Fire extinguisher 3 155.00 465.00
Meeting table 1 350.00 350.00
TOTAL 1,042.00 3,883.00
7.4 Office Supplies

(RM) (RM)
Paper 3 boxes 60.00 180.00
Stationery 4 sets 30.00 120.00
Logbook 4 5.00 20.00
Envelopes 1 box 32.00 32.00
Pens (variety of colors) 1 box 28.00 28.00
Marker 1 box 35.00 35.00
Sticky notes 2 boxes 12.00 24.00
File holder 6 3.00 18.00
Staple 4 4.00 16.00
Hole puncher 4 5.00 20.00
Tapes 3 2.00 6.00
Scissors 4 2.00 8.00
Broom 2 7.00 14.00
Dustpan 2 4.00 8.00
Calculator 4 9.00 36.00
Ink printer black 3 boxes 35.00 106.00
Ink printer color 3 boxes 40.00 120.00
TOTAL 790.00
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7.5 Office Fittings

(RM) (RM)
Air conditioner 3 988.00 2,964.00
Lamp 5 12.00 60.00
Refrigerator 1 660.00 660.00
Water dispenser 1 1,889.00 1,880.00
Whiteboard 1 229.00 229.00
Pantry cabinet 2 1,380.00 2,760.00
Projector device 1 200.00 200.00
TOTAL 8,762.00
7.6 Office Equipment

(RM) (RM)
Computer 6 1,350.00 8100.00
Wifi modem 1 200.00 200.00
Fax machine 1 500.00 500.00
Telephone 1 35.00 35.00
Scanner 1 655.00 655.00
Printer 2 900.00 1,800.00
TOTAL 11,290.00
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7.7 Administration budget
PARTICULARS FIXED MONTHLY OTHER TOTAL

ASSET EXPENSES EXPENSES (RM)
(RM) (RM) (RM)
FIXED ASSET
Land and building 50,000 50,000
Office equipment 11,290 11,290
Office furniture and fittings 12,645 12,645
Signboard 800 800
WORKING CAPITAL
Salary, EPF, SOCSO 13,511 13,511
Utilities 450 450
Internet 250 250
Office supplies 790 790
OTHER EXPENSES
Business registration 1,000 1,000
Medical insurance 500 500
TOTAL 74,735 15,001 1,500 91,236
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8.0 MARKETING PLAN
Marketing is best defined as a company function responsible for creating, communicating,

and delivering value to customers while also maintaining customer relationships. In other
words, the marketing process seeks to provide value to clients while also developing
connections with them. Marketing is an essential component of corporate success, and
marketing plans must serve as the framework for executing marketing tactics. A marketing
strategy is a written document that lays out the actions required to sell a product or service. In
the marketing industry, it is often referred to as a guide by the marketing manager. A
marketing plan comprises a description of the company's existing marketing position, a
discussion of the target market, and a description of the marketing mix that will be used to
accomplish the company's marketing goals.
Furnish Love has its own marketing manager that is in charge of designing market strategies
prior to the release of our items to consumers. The marketing manager must devise a
marketing plan that optimizes earnings and market share while taking consumer pleasure into
account. As a result, our marketing manager should analyze market demand for the
organization's goods to decide the optimum location for our firm, as well as the strengths and
weaknesses of our rivals.
8.1 Customers
One of the most significant components of a marketing strategy in the company plan is
identifying the target consumer, which may aid our business success via a market
segmentation process. A target market is a set of clients or purchasers to whom a company is
always striving to persuade them to acquire their goods. Consumers with comparable
qualities, such as age, geography, income level, and lifestyle, comprise the target market. As
46 | P a g e
a result, our organization must determine the target market so that we can forecast if our
items are good enough to compete with others.
Our market has been segmented into three segments: geographic, demographic, and
psychographic. Market segmentation is a strategy that we employ to define our market, which
ultimately helps us choose our target market.
8.1.1 Geographic segmentation
Geographic segmentation is always believed by many organizations to be the first

segmentation variable employed. Furnish Love would target densely populated urban and
semi-urban regions. Furthermore, the population density in metropolitan regions is larger
than in rural ones, which might assist to increase income. Individuals in cities often choose
higher-quality furnishings than people in rural regions. We want to put our shop in a strategic
location that will draw a big number of individuals on a daily basis. Our plant is situated in
Lot 334, Jalan Kampung Baru, Padang Temusu, 08000 Sungai Petani, Kedah. A range of
considerations, including infrastructure, transportation, and environmental concerns,
influenced the choice of this site. As a result of our company's strategic location, consumers
find it simpler to do business with us.
8.1.2 Demographic segmentation
Marketers usually segment markets based on demographic data since it is freely accessible
and frequently associated with customer buying and consumer behavior. This form of
segmentation might help us discover a trend that could affect future market spending habits.
When ordering high-quality wooden furniture, Furnish Love simply requires age, gender, and
monthly gross family income.
 Age and gender
Furnish Love creates wood furniture that is suitable for both men and women. Our major
target demographic includes millennials, newlywed couples, and middle-aged families.
Millennials, or Generation Y, were born between 1981 and 1996. Generation Y will be
between the ages of 25 and 40 in 2021. Because they started working soon after college, this
generation may be deemed to have enough funds. They have the greatest buying power since
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their careers have begun and they have steady employment. As millennials' discretionary
money grows, so does their desire to purchase high-end goods. Furthermore, we focus on
newlywed couples without children. Because they combine two paychecks to spend on one
family, we feel they have a better financial status than single persons. Newlyweds might
invest in high-quality furnishings that will endure for years. Finally, we concentrated on
middle-aged families with children. As the parents reach their mid-40s, their financial
situation normally improves since the main wage earners pay increases and the second wage
earner also earns a larger salary. As a result, the family usually replaces certain worn items of
higher-priced and higher-quality furniture.
 Household income
We targeted middle- and upper-income clientele. This is due to the fact that our high-quality
furniture is supplied in categories at cheap rates, allowing everybody to acquire it. We can
tell that the bulk of individuals who reside nearby are our prospective clients since our shop
located in the Sungai Petani region. We feel that consumers in the intermediate income
brackets are more price sensitive and conscious of their spending. They would most likely
choose less costly furniture that delivered a high-quality product at the greatest value for
money. Those with greater incomes are less price sensitive. We anticipated that if the
product's quality increased, people would purchase more of it regardless of price. As a result,
since product quality is becoming more important to most customers than price, we may
influence those with moderate and higher incomes. We targeted middle- and upper-income
clientele. This is due to the fact that our high-quality furniture is supplied in categories at
cheap rates, allowing everybody to acquire it. We can tell that the bulk of individuals who
reside nearby are our prospective clients since our shop located in the Sungai Petani region.
We feel that consumers in the intermediate income brackets are more price sensitive and
conscious of their spending. They would most likely choose less costly furniture that
delivered a high-quality product at the greatest value for money. Those with greater incomes
are less price sensitive. We anticipated that if the product's quality increased, people would
purchase more of it regardless of price. As a result, since product quality is becoming more
important to most customers than price, we may influence those with moderate and higher
incomes.
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8.1.3 Psychographic segmentation
Psychographic segmentation separates a market into segments depending on the customer's

lifestyle. We want consumers that want their homes to be comfortable, fashionable, and
reflective of their individuality. We are looking for individuals that value a contemporary
rustic appearance that may give dignity and beauty to any space in the home. Furthermore,
we cater to consumers who like to purchase tiny furniture that will fit in their house while yet
allowing them to move freely. We are aware that there is a plethora of furniture options
available. As a result, we strive to enhance the quality and design of wooden furniture in
order to increase the visual attraction of a piece of furniture.
8.2 Market Size and Trends

8.2.1 Market Size
The entire number of prospective purchasers of a product or service within a certain market is
referred to as market size. It may also be expressed in monetary terms. It is critical to assess
and comprehend market size since it may be utilized to predict how much profit our product
might possibly generate.
Due to its advantageous placement in the city center, Sungai Petani is popular with urban and
semi-urban people. The Sungai Petani metropolitan region has an estimated population of
70,000 people. As a result, we are focusing on millennials, freshly married couples, and
middle-aged families. The age range is between 25 and 65 years old.
Target Market Percentage (%) No of People
Millennials 28.32 19,824
Newly married couples 40.52 28,364
Middle aged families 31.16 21,812
TOTAL 100 70,000
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Table 8.2.1 Population based on Demographic Segmentation
Population in Sungai Petani: 70,000
Target market size: 20% from each target market
Target Market Expected No of Frequency Price/Unit Total Sales

Target Market Purchase (RM) (RM)
to Buy/Year
Millennials 20% x 19,824 1 5,000 (LR) 19,825,000

27,755,000
= 3,965 7,000 (DR)
18,833,750
4,750 (BR)
Newly married 20% x 28,364 1 5,000 (LR) 28,365,000

couples 39,711,000
= 5,673 7,000 (DR)
26,946,750
4,750 (BR)
Middle aged 20% x 21, 812 1 5,000 (LR) 21,810,000

families 30,534,000
= 4,362 7,000 (DR)
20,719,500
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4,750 (BR)
Total Market Size = RM234,500,000 (per year)
8.3 Competition and Competitive Edges
Competition is a crucial issue for organizations and sectors who aim to extend their market
by fighting for the same set of clients with at least one other enterprise. Every company
should be aware of its competition. We regard rivals as a chance to enhance our company and
give our consumers with high-quality wooden furniture. Furnish Love competes with various
other businesses in Sungai Petani that offer the same product as us. Perabot Berkualiti
Singapure, TNG Sale and Service and Osama Perabot are our key rivals in the wooden
furniture industry.
8.3.1 Competitors
Competitors Strengths Weakness
Perabot Berkualiti Singapura They have many Selling secondhand

followers which is 17K furniture that may be
on Facebook which can damaged and cannot meet
be said that their business the expectation of all
is legitimate and their customers
authentic
TNG Sale and Service Selling high quality Lack of promotion to

product with affordable attract customers
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prices
Osama Perabot Have variety of options The furniture sold are low
quality and the price is
not reasonable
Table 8.3.1 Competitors
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8.4 Estimated Market Share and Sales
8.4.1 Market Share
8.4.1.1 Market share before the involvement of Furnish Love
Competitors Before Entrance (%) Amount (RM)
Perabot Berkualiti Singapura 50 117,250,000
TNG Sale and Service 20 46,900,000
Osama Perabot 30 70,350,000
TOTAL 100 234,500,000
Table 8.4.1.1 Market share before the involvement of Furnish Love
8.4.1.2 Market share after the involvement of Furnish Love
Competitors Before Entrance Amount (RM) Percentage of

(%) Loss (%)
Perabot Berkualiti Singapura 40 93,800,000 10
TNG Sale and Service 15 35,175,000 5
Osama Perabot 25 58,625,000 5
Furnish Love 20 46,900,000 -
TOTAL 100 234,500,000
8.4.1.2 Market share after the involvement of Furnish Love
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8.5 Sale Forecasting
After identifying and determining the market size and market share, our company can
forecast sales for the upcoming period. Furthermore, it is used to determine employment
requirement levels. The following are the expected sales of our product:
Month Sale Forecast (RM)
January 1,902,175
February 1,902,175
March 1,902,175
April 1,902,175
May 1,902,175
June 1,902,175
July 1,902,175
August 1,902,175
September 1,902,175
October 1,902,175
November 1,902,175
December 1,902,175
Year 1 22,826,100
Year 2 (increment 10%) 25,108,710
Year 3 (increment 15%) 28,875,016
8.6 Marketing Strategy

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8.6.1 Overall marketing strategy
For pricing, we use cost-based pricing method. Cost-based pricing is based on a
product's production, manufacturing, and distribution costs. To generate a profit, the
price of a product is decided by adding a proportion of the producing expenses to the
selling price. Other than that, we also use psychological pricing as a pricing strategy
where we set a price at an odd number to represent a bargain and an even number to
signify quality is referred to as psychological pricing. Because of the psychological
impact of finishing a price with an odd number, such as RM9.99 rather than RM10. In
addition, we also have discount pricing. Discount pricing is a pricing strategy in
which the original price of a product or service is reduced in order to attract
consumers. Moreover, for advertising and promotion, we use many mediums such as
television, radio, internet, public relations, personal selling, coupon, and loyalty
marketing program
8.6.2 Pricing
When launching a company, one of the most crucial variables to consider is price.
This is due to the fact that pricing effects both consumers and companies. The amount
of money traded to receive a commodity or service is referred to as the price. Price
usually refers to the monetary value paid by the customer to get the goods or service.
 Common pricing method

The most fundamental and extensively utilized pricing technique in the market is cost-
based pricing. Pricing is determined by adding a standard mark-up to the expense of
estimating the cost of a product or service. This pricing approach is only employed
when there is a lot of competition since it typically results in a loss in the long term.
This basic strategy ignores demand and leaves no means of knowing if prospective
buyers would purchase the goods at the price supplied.
The mark-up is the difference between a product's or service's cost and its selling
price. A mark-up is applied to the overall cost borne by the manufacturer of an item or
service to create a profit. The percentage of mark-up is decided by the amount of
profit we expect to earn, the sort of product or service we are selling, and the speed
with which the product sells. Furnish Love has concentrated on making high-quality
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wooden furniture, with a profit margin of 25% of the selling price. Simultaneously,
we must assess the quantity and strength of rivals in the same geographic region or
sector.
We may offer you a cheaper or higher pricing. This is related to the customer's desire
to pay for the goods as well as competitive pressure. Our organization, on the other
hand, estimated that if the price is lower than the cost per unit, we would lose money.
If the mark-up % is applied consistently over the full product range, the total profit
margin may be expected.
Calculation:
Selling Price = Total Cost Per Unit (From 7.10) + Mark Up
= RM 808.93 + (RM 808.93 x 25%)
= RM 1,011.16
8.6.3 Sales tactics

Setting a product's pricing is one of the most challenging jobs a business undertakes
when launching a new product. Furnish Love decided to use psychological pricing as
a pricing strategy. Setting a price at an odd number to represent a bargain and an even
number to signify quality is referred to as psychological pricing. Because of the
psychological impact of finishing a price with an odd number, such as RM9.99 rather
than RM10, this pricing method has proven popular in the furniture sector. Customers
in our scenario would perceive the RM4,999.99 furniture product pricing to be in the
RM4,000 range rather than the RM5,000 range. We may say that RM4,999.99 is more
likely to be considered a good deal. As a consequence, we wanted our consumers to
assume that by using this strategy, they were paying less for our premium goods.
We also adopted a discount pricing strategy. Discount pricing is a pricing strategy in

which the original price of a product or service is reduced in order to attract
consumers. We employed this pricing strategy to temporarily lower the price of our
product in order to launch it to the market or accelerate sluggish sales. Although this
pricing approach is most often linked with promotional pricing for short-term sales, it
may also be used for long-term sales. Long-term discount pricing may be observed in
the form of bundle pricing, where we give bigger discounts when clients buy more.
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Customers who buy living room furniture bundles, bedroom furniture bundles, and
other things in quantity get discounts. We are convinced that this price strategy will
entice clients to purchase huge amounts of our high-quality goods. Even while giving
bundling discounts may not instantly boost our profit margin, we will see more
consistent sales that will gradually outweigh what we would have sold if we simply
priced things separately.
8.6.4 Service and warranty policy

A guarantee is a documented set of promises made by the manufacturer stating how
long the complete product will work well. Customers who buy our goods will get a
warranty card for two years from the date of purchase against faults in materials and
workmanship. Warranties on home goods usually reflect the furniture's quality. In
general, the longer the warranty duration, the higher the quality of the goods.
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8.7 Advertising and promotion
8.7.1 Advertising
 Television
We were able to increase public interest in our items by creatively promoting them on
television. Through television advertising, we can reach a big and diversified
audience. Not to add, we can demonstrate the beauty of woods that generate trendy
and high-quality home decor.
 Radio
Furnish Love picked radio as one of our platforms for promoting our wood-based
home decorations and furniture because it is affordable and allows us to communicate
the message instantly. Furthermore, radio is expected to be utilized practically
everywhere, including at home, in the vehicle, and at the store. Furnish Love thinks
that by using innovative marketing and repeating advertising, we may pique the
attention of the audience and make the commercial memorable for them. Finally, it
will pique their interest in Furnish Love and the things we offer.
 Internet
Furnish Love believes that through promoting our items on the internet, we will
finally reach our target market. Nowadays, the internet makes it simple to employ
online advertising that will appear in the media for those shopping for decorations,
furniture, and anything made of wood. Furthermore, the internet allows Furnish Love
to have our website, www.furnishlove.com , which is readily available to customers.
We have organized our items by categories on the internet, and we have photos with
product descriptions. Visitors to the website may also read our customers' comments
on our items, which will influence their choice on whether or not to purchase them.
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8.7.2 Public Relations
Since Furnish Love is new to the business, we want to show the public the variety of our
goods and gauge their response and interest in them. With so many rivals, we would want to
gain the public's favor and make our firm their first option for wood-based goods. For
example, in order to increase public interest, we invest a large money on sponsorship for
certain big events that may draw 41 public attentions to our items. Furthermore, we are
participating in an exhibition where our professional staff will help members of the public
who visit our booth in selecting the best product for their needs.
8.7.3 Personal selling

We benefit from personal selling since it allows us to communicate directly with our
consumers. This is evident in our physical shop, where we need our well-trained employees
to interact with consumers that visit us. To urge consumers to purchase from us, our team will
discuss the costs, advantages, and product comparisons. Furthermore, by using this strategy,
we may recommend the finest goods for our consumers depending on their interests and
budget.
8.7.4 Sales promotion

 Coupon
To be competitive, we decided to provide coupons that allow our customers to an instant
price decrease. Visitors to our exposition stand will be given coupons for a price discount
if they fulfil the price criterion by buying any furniture or even modest decorations.
Customers that enter our shop will also get vouchers to encourage them to purchase our
items on their next visit. Coupons will also be provided for major holidays such as
Christmas, Hari Raya, and the Year-End Sale, among others. To get the deal, clients must
make their purchase before the expiration date specified by us, which will be printed on
the coupon.
 Loyalty marketing program
Furnish Love has developed a loyalty marketing programme, which is a marketing
strategy aimed at cultivating long-term, mutually beneficial connections between our firm
and our target clients. We design a membership card that may hold points earned by
consumers who buy our items in-store or online. For example, we will start by giving
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clients who make their first purchase 50 points. Then, for every RM100 spent, 100 points
would be awarded. Customers who have accumulated up to 1,000 points will be able to
claim a 10% discount. This is to help Furnish Love attract more loyal consumers so that
we can gain more new customers, and they may also consciously or inadvertently
advertise our shop, enabling us to create more profit.
8.8 Distribution
The marketing channel, also known as the channel of distribution, refers to the "place" or
"distribution," as it establishes a way for the company's goods and services to be sent to
consumers. The distribution strategy strives to develop an organized and managed
distribution infrastructure to guarantee that items reach their intended clients smoothly. To
promote and distribute our high-quality wooden furniture to customers, our firm picked the
direct channel and the store channel as the key distribution methods.
 Direct channel
Manufacturer Customers
Direct distribution is a route through which we sell to our clients directly rather than via
an intermediary. This channel structure is common in advertising, direct mail and
catalogue shopping, and electronic commerce, including online shopping and shop-at-
home television networks. Furnish Love may sell its items to customers in a number of
ways via direct channels. In this day and age, our firm has opted to offer our high-quality
items through online platforms in order to meet the demands of online buyers who like to
buy things with a single click. As technology progresses, our firm has developed its own
website to allow clients to buy our items online. This has encouraged customers to
purchase online at www.furnishlove.com rather than visiting a real retail location. Our
loyal consumers may replicate the internet buying experience in-store by using this
marketing channel. Customers now have additional options for making online furniture
purchase easy and dependable. For example, we designed a basic configuration tool that
allows our clients to experiment with a variety of colors, wood kinds, and other
parameters on our website. Our configurator tool enables our clients to quickly compare
the colors on various types of wood and observe how this impacts the space of their room.
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As a consequence of this internet platform, our firm would have a better opportunity of
engaging with customers all throughout Asia, enabling us to maximize sales.
 Retailer channel
Furnish Love also offers its items via retail channels. This distribution channel transfers
items from the producer to the consumers through a single middleman. A retailer
distribution channel occurs when a retailer purchases a substantial quantity of our
company's goods and resells them to end consumers.
Manufacturer Retailer Customers
Furnish Love produces high-end furniture, which can be purchased at well-known

department shops like SSFHome and Harvey Norman. Most Malaysian shopping malls
still contain these department shops as the principal location for those wishing to
purchase home furnishings. Because customers have always believed in having a "touch
and feel" experience while buying furniture, our firm picked this distribution method. The
purpose of establishing actual locations was to give consumers the opportunity to feel and
experience the vibrations. We will be able to better understand our clients' demands in
terms of delivering new ideas and inspiration for their homes if we sell our items via these
stores. Because it is strategically positioned, it has the potential to generate significant
profit for our organization while also maintaining product sales via these store channels.
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8.9 Organization Chart for Marketing Department
MARKETING MANAGER
NUR NADEEHA BINTI

KHAIRUDIN
MARKETING PUBLIC RELATION

EXECUTIVE MANAGER
STAFF STAFF
8.9.1 Manpower planning
POSITION NUMBER OF PERSONNEL

Marketing Manager 1
Marketing Executive 1
Public Relation Manager 1
Staff 2
TOTAL 5
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8.9.2 List of task and responsibilities
POSITION TASK AND RESPONSIBILITIES

Marketing Manager  Create a marketing plan that increases earnings and
market share while taking consumer pleasure into account.
 Examine market demand for the company's goods.
Marketing Executive  Advertise the goods to a certain audience.
 Organize product displays and attend conferences,
seminars, and shows.
Public Relation Manager  The person in charge of developing and executing a
company's public relations and media strategy.
 Manage and promote material on social media networks
like Instagram and Facebook.
Staff  In charge of developing ads and promotional materials for
the firm.
 Assisting the marketing manager in overseeing the
department's operations.
8.9.3 Schedule of Remuneration
POSITION QUANTITY MONTHLY EPF 12% SOCSO TOTAL

SALARY (RM) 2.5% AMOUNT
(RM) (RM)
Marketing 1 2,900 348 72.50 3,320.50
Manager
Marketing 1 2,600 312 65.00 2,977.00
Executive
Public 1 2,700 324 67.50 3,091.50
Relation
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Manager
Staff 2 2,300 276 57.50 5,267.00
TOTAL 5 14,656.00
8.9.4 Marketing budget
PARTICULARS FIXED MONTHLY OTHER TOTAL

ASSET EXPENSES EXPENSES (RM)
(RM) (RM) (RM)
FIXED ASSET
Vehicle (office use) 30,000 30,000
Signboard 2,200 2,200
WORKING CAPITAL
Salary, EPF, SOCSO 14,656 14.656
Sales promotion cost 2,000 2,000
Travelling expenses 1,500 1,500
OTHER EXPENSES
Grand opening 3,200 3,200
Signboard License 300 300
Sponsorship 2,800 2,800
Advertising cost 8,000 8,000
Insurance and road tax 5,500 5.500
TOTAL 32,200 18,156 19,800 70,156
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9.0 FINANCIAL PLAN
All marketing, operational, and administrative expenditures are accounted for in one
place: the financial plan. In order to avoid going into the red, it is imperative that your
company has a well-thought-out financial plan. This budget helps the company figure out if it
can manage its funds well enough to stay in business. To potential backers, it details how the
project will be carried out, where the money will come from, how the cash flow will be
managed, and what kind of profits the business could provide. Given that finances are so
important to the efficient operation of the firm, the financial plan acts as a roadmap for future
expenditure and resource allocation.
9.1 START-UP COST
After careful planning and research, your company should determine the costs associated
with taking the first steps toward opening a new location, releasing a new product or service,
entering a new market, serving a new client or beneficiary, introducing a new process in an
existing facility, or starting a new operation.
9.1.1 Marketing Expenditure
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9.1.2 Administrative Expenditure
9.1.3 Operations Expenditure
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9.2 CASH FLOW
A pro-forma cash flow statement is an estimate of future cash inflow and outflow over a
given time frame. If the project is very large or complex, the pro-forma cash flow statement
may cover a longer time frame than the standard three to five years. The pro forma cash flow
statement should include the cash inflows, cash outflows, the difference between the two
(cash deficit or surplus), and the beginning and ending cash balances for the period in issue.
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9.3 INCOME STATEMENT
A pro forma income statement is an essential part of any financial strategy, as it

details the expected revenue and expenses over a set time frame (usually three to five years).
The standard components of a pro forma income statement are the manufacturing cost of
products sold, gross profit, and net profit. Materials, labor, manufacturing overhead, and any
changes in the value of work in progress are all components of the cost of things made, often
known as production expenses. The term "gross profit" refers to the amount of money left
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over after subtracting the cost of products sold from total sales. The bottom line for any given
time frame can be calculated by subtracting the gross profit from the total operating expenses.
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9.4 BALANCE SHEET
A company's financial performance during an anticipated time period can be seen in the pro
forma income statement, while the company's assets and sources of financing can be seen in
the pro forma balance sheet. Most frequently, a pro forma balance sheet will be prepared for a
time horizon of three to five years.
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10.0 PROJECT MILESTONE
ACTIVITIES DEADLINES DURATIONS

Incorporation of Business October - December 2021 3 months
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Application for permits and November – January 2022 3 months
licenses
Searching for business premise September – November 2021 3 months
Renovation of premise December – January 2022 2 months
Procuments of machines and February – April 2022 3 months
raw materials
Recruitment of Labour April 2022 1 months
Installation of machine April 2022 1 months
11.0 CONCLUSION
We have finally managed to complete our business plan. We now know how to
establish our own business and prepare a real business plan in the future. Therefore, we are
grateful that we can prepare this business plan as it has helped us learn the process of starting
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a business. This business plan has also given us experience on how we should manage a
business, such as how we should market our products to attract customers and how a
business should operate. Moreover, we also learned how to estimate our budget for
administration, marketing, and operation for our business and the risk we must face to
achieve success and to grow our business. Other than that, creating this business plan has
helped us enhance our credibility and entrepreneurship skills. As managers of Furnish Love,
we believe that our business will be successful because we strive to be the best woodcraft
manufacturer in Malaysia by providing only the best wooden furniture for our customers. To
ensure our vision is realised, we would only offer the finest wooden furniture that is
sustainable and reliable. With the dedication and cooperation from other partners, we hope to
create designs of the best quality to realise our customer’s home design dream.
Therefore, we hope that Furnish Love able to become the next successful business
and to be in healthy competition where we can be a role model for our competitors. With
that, we also hope that Furnish Love will open up more branches in other cities especially
East Malaysia for the next 10 years so we can offer our utmost service for our customers and
eventually help them in reducing shipment cost. Additionally, Furnish Love also would like
to continue maintaining excellent discipline when running a business even if our targets and
goals have been achieved. It has always been our main objective to always produce products
with premium quality and be able to give satisfaction to customers. We will continue to
ensure that every task will be done efficiently and effectively without hindering others.
12.0 APPENDICES
12.1- RESUME
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12.2 Partnership Agreement
The partnership agreement stated that has been prepared according to the agreement between
the following members:
NO. NAME OF PARTNERS IC NUMBER
1 NOR SYAZWANI BINTI ABDUL RAHMAN 010502-14-0780
2 NUR NADEEHA BINTI KHAIRUDIN 010320-02-0408
3 NOOR SYAZANI BINTI NOOR NASIR 010210-02-0410

NUR AINA NADHIRA BINTI MOHAMAD
4 010604-02-0506
FERIZA
PUTRI AIMAN NAJIHAH BINTI MEGAT
5 010204-09-0028
MUDZAFFAR
Our business operation and administration will be based on the Business Registration Act
1965 (revised 1978) and our business will carry on the partnership.
1. Name and location of the business

1.1 The partnership should be conducted under the name of Furnish Love and shall
maintain it headquarter at Lot 334, Jalan Kampung Baru, Padang Temusu, 08000
Sungai Petani, Kedah.
1.2 The place of the business is at Lot 334, Jalan Kampung Baru, Padang Temusu,
08000 Sungai Petani, Kedah.
If partners agree on any changes, then it will proceed.

2. Capital Contribution
2.1 The capital contribution of each partner to the partnership shall consist of the
following property, services or cash which each partner agrees to contribute.
2.2 The profit and losses of the partnership shall be divided by the partners according
to a mutually agreeable schedule and at the end of each calendar year according to
the proportions listed above.
2.3 There is no interest payable on the partner’s capital.
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2.4 The term of this Agreement shall be for a period of 3 years, unless the partners
mutually agree in writing to a short period. Should the partnership be terminated by
unanimous vote, the assets and cash of the partnership shall be used to pay all
creditors, with remaining amounts to be distributed to the partners according to their
proportionate share.
12.3 REFERENCE
Othman, I. (n.d). Irfan Othman. Personal Financial Advisor at Maybank. LinkedIn.

https://my.linkedin.com/in/irfanothman
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UNIVERSITI TEKNOLOGI MARA (UiTM)

CAWANGAN KEDAH, KAMPUS SUNGAI PETANI

BUSINESS PLAN (FURNISH LOVE)

Faculty : BUSINESS AND MANAGEMENT

Program : BACHELOR OF BUSINESS ADMINISTRATION

Program Code : BA244

Course : PRINCIPLES OF ENTREPRENEURSHIP

Course Code : ENT530

Group Name : KBA2443B

Group Members : NUR NADEEHA BINTI 2022930979

imperfect as well as we might have not complete it just on time.

the elaboration of this project.

project. Thank you.

3. Environmental Industry Analysis 8

5. Operation / Production Plan 21

10. Project Milestone 71

2.1 COMPANY NAME AND LOGO

2.1.1 VISION AND MISSION

NAME OF BUSINESS FURNISH LOVE

BUSINESS ADDRESS LOT 334, JALAN KAMPUNG BARU,

TELEPHONE NUMBER +60138251981 / 03 462815

FAX NUMBER 03 1459176

FORM OF BUSINESS Partnership

MAIN ACTIVITY Produce wood furniture

DATE OF COMMENCEMENT 1 January 2019

DATE OF REGISTRATION 1 January 2018

REGISTRATION NUMBER 00861723-A

NAME OF BANK Maybank Berhad

BANK ACCOUNT NUMBER 164856144180

3.4 Analysis predictions for your industry or market segment

 Major factors affecting market growth

(b) Benefits of product

(c) Unique features

(d) Any possible drawbacks of the product or service

(e) Present state of development of the product

(g) Competitive advantage over the competition

(h) Opportunities for the expansion of the product line

 Technologies / Special Know-how:

(c) Development status of product(s):

Start date End date

o Difficulties and Risk

o Design and development stages

o Patent, trademark, copyright, or intellectual property rights

o Extent of search for infringement licenses

(e) Product improvement and new products:

Start date End date

o Difficulties and risks

o Design or development stages

 Describe the general nature of company

 Problem will the company’s product or service solve

 The reasons for our company to success

 Demonstrable customer demand :

 Milestones (See at section project milestones)

5.1 FACILITIES AND IMPROVEMENTS

5.1.2 Operation Layout

5.1.3 Business and Operation Hour

The business and operation hours in our business are as follow:

Business Hour 11 Hours (9.00 a.m. – 10.00 p.m.)

Operation Hour 15 Hours (8.00 a.m. – 11.00 p.m.)

Working Days 5 days per week (Thursday – Monday)

Cost Per Total

Sander Machine 1 700 700

Cost Per Unit