N Serve Pvt. Ltd.: An Online Platform for Service Professionals

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Entrepreneurship Report
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Contents
EXECUTIVE SUMMARY................................................................................................. 2
MARKETING AND SALES PLAN....................................................................................3
FINANCIAL FEASIBILITY................................................................................................7
OPERATIONAL PLAN................................................................................................... 11
ACTION PLAN............................................................................................................... 15
REFERENCES...............................................................................................................17
APPENDICES................................................................................................................ 19
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EXECUTIVE SUMMARY
ABOUT N SERVE
The company named N Serve Pvt. Ltd is going to introduce a new idea in the market
which will make human life more valuable and easy. The product in this marketing plan
is the online web platform or a smartphone application which will enable its users to
search for the nearby service plumbers, interior designers, electricians, technicians, etc.
The user will be then able to make a deal with the plumbers and call the plumber to the
user's place so that some services can be completed.
The company is going to establish its headquarters in Kampong Glam, Singapore.
MISSION STATEMENT
The mission statement of the company is “To provide a quality life and ease of life by
eliminating small unimportant works from it.”
VISION STATEMENT
The vision of the company is “Smarter availability of the technical services anywhere.”
OBJECTIVES
The main objectives of the company are
 To increase the service used by 20% in the next two years.
 To increase the market share of the company by 8% in the market.
 To increase the revenue of the company by 12% by the end of 2022.
 To improve the quality of the service in the next two years.
AIMS
The main aims of the company are:
 Make the technical service available anywhere with ease in the world.
 Add value to the life of the people by providing quality service.
 Reduce the efforts to find servicemen for small tasks.
 Provide automation and relief from small unimportant tasks.
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MARKETING AND SALES PLAN
THE PRODUCT NATURE
The product in this marketing plan is the online web platform or a smartphone
application which will enable its users to search for the nearby service plumbers, interior
designers, electricians, technicians, etc. The user will be then able to make a deal with
the plumbers and call the plumber to the user's place so that some services can be
completed. There can be any type of service like some woodwork, building furniture,
interior, designing, fixing electronics, office cleanup, etc. In most simple context the
product here is a subscription-based or charge per use based software (Schmitt, 2019).
THE DECISION MAKERS (CUSTOMERS)
The customers of this platform will be people greater than the age of 20. The customer
can be any type of individual like a student, working professionals, housewives, senior
citizens, etc. The most precise definition of the customers can be “Any person greater
than the age of 20 in need of any kind of service which can help him to find a person or
serviceman for the completion of a task which he/she is not able to or is not willing to do
and is ready to pay to that person or serviceman for completion of that task” (Irwin et al.,
2010).
Sales Anticipation (Johnston and Marshall, 2013)
The product is actual software which will get more sales only with increased sales and
demand. The predicted pattern of demand can be expressed as:
FORECAST FOR SALES
Sales 2021
Standard Stream Inflow $542,847
Advertisements Increment Sale $14,750
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Other $0
Total Sales $567,597
Direct Cost of Sales FY 2021
Straight Costs (Direct) $25,801.88
Other $0
Subtotal Direct Cost of Sales $25,801.88
Seasonal Variations FY 2021
Summer (construction increases in
summer season) +11% (+ $62,435)
Winter (cleanups and construction) +6% (+ $32,570)
How customers will be charged for using the service?
The customers will be charged as “pay per use policy”. The charges of the services will
depend on the amount quoted by servicemen + the distance from which the servicemen
are coming from + the charges quoted by the software service provider. That is the
charges will be totally variable. But for estimation the anticipations can be made like
this:
 The servicemen will be charged a total amount of 3% of his quotations for getting
a single customer (Bertini and Koenigsberg, 2014).
 The customer will be charged 7% extra on the quotations of the servicemen for a
single service.
 Some advertisements will be shown to the user on the basis of their interests
from which PPC amount will be generated.
 Servicemen can also post personal advertisements on the platform which will be
charged on the same PPP policy.
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 User can also take premium subscriptions in exchange of various features which
will be charged on a monthly basis.
REACHING TO CUSTOMERS
The customers will be reached through various sources and. The main source to reach
the customers and increase the usage of the application can be done through
advertisings, promotions, personal contacts, telesales, etc. The sales can be secured
through the approaches:
The starting few days for the customers will be exactly free which will attract more
customers to the platform. After reaching significant users the prices will be
implemented (Puhlmann, 2013). Then to make sure that the customer maintains the
loyalty different offers will be provided to the customers and also free services will be
provided on reaching a significant amount of the usage. The customers will also be
provided with different vouchers on spreading the application to others in their circle. In
this case, the customer will remain entertained and keep using and spreading the
platform. This approach will develop a strong market position which will help in
generating significant revenue of the company.
INCREASING THE USERS OF THE PLATFORM (Distribution)
The platform will be mainly spread from the paid advertisements in the beginning.
Another approach through which the services will be spread can be “share and earn
basis” in which the customer will share the product and within their circles and get a
reward on per share (Stark, 2015). This will encourage the customer to spread the
platform to more and more users and in turn, will be beneficial to the people. The
evidence for the investments in increasing the customer base will be:
Promotional Strategy Investment made Estimated Users Reached
Paid Advertisements $2457 157,000
Rewards on helping
increasing downloads of
mobile application
$1248 45,200
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Offers and Free Services $1758 24,500 (Increased
Customer loyalty)
KEY PEOPLE OF THE ORGANIZATION
The key people of the organizations will be:
 Yoman – Yoman will be one of the leaders which will help the company to grow
and make prominent decisions. The skill of Yoman like excellent communication,
good explanation quality, and foreseeing of the difficulties can help the company
to grow and create a good internal environment (Kotter and Cohen, 2012).
 Lure – Lure is the Co-Founder of the company. His skills like innovative thinking
and critical analyzing strategy of the situations will help the platform to emerge in
other areas too and in turn, increase the market share of the company.
 Shona – Shona is also the CO-Founder of the platform with her excellent provide
the information on the things like. Shona has excellent decision-making skills and
great leadership skills which will help to maintain the structure of the company
and maintain the innovative culture within it.
 Christiana – Christiana is the supervisor of the company. She will help in
defining the goals of the company and maintaining the visions of the company.
She will also ensure the proper workflow of the company and monitor employee
productivity. In this way, she will help the company to perform smooth operations
(Kotter and Cohen, 2012).
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FINANCIAL FEASIBILITY
STARTUP CASH REQUIREMENTS AND CALCULATIONS (Chen, 2010)
INVESTMENTS
Task Beginning Completion Investment Manager Post
Draft layout to owners 3/2/2020 3/11/2020 $299.25 Yoman Adviser
Website Content
Developed
3/2/2020 4/2/2020 $0 Lure/Shona Holder
Initial UI Completed 3/11/2020 4/2/2020 $812.25 Yoman Adviser
Back End Developed 4/2/2020 4/16/2020 $1282.5 Yoman Adviser
Design Approved 4/17/2020 4/21/2020 $0 Lure/Shona Holder
Graphics & Logos
Completed
4/21/2020 4/29/2020 $0 Christiana Supervisor
BETA Complete 4/21/2020 4/29/2020 $812.25 Yoman Adviser
User Testing 5/2/2020 5/8/2020 $299.25 Yoman Adviser
Necessary Changes 5/8/2020 5/12/2020 $427.5 Yoman Adviser
Site Launch 5/13/2020 5/13/2020 $0 Yoman Adviser
Totals $4025
Feedback - This data provides clear investments that will be needed for setting up the
startup. The investments made are estimate values and may vary. The feedback
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generated from the above data is that the investments should also include the
investments on the tools, equipment, premises and data that can affect the company.
HOW COMPANY WILL BE FUNDED? (Staniewski et al., 2016)
The company can be funded in the following manners:
Sources Funding
Equity Funding 12%
Loaned Money 30%
Lease 5%
Investors 53%
BREAK EVEN ANALYSIS
BREAK-EVEN ANALYSIS
Break-even monthly revenue $77,885.37
Approximations:
Avg. variable cost 3%
Fixed Cost Estimated / Month $61,310.34
Feedback - The breakeven analysis is done here cannot incorporate or handle the
situations like project failure or any crash in the services. The plan can be upgraded to
and include the cash requirements in the case of a change in the company and any
crash or handling any kind of failure.
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CALCULATIONS FOR STARTUP CASH
START-UP CASH CALCULATIONS
Start-up Expenses to Fund $54,025
Start-up Assets to Fund $1,853,720
TOTAL FUNDING REQUIRED $1,907,745
ASSETS
Non-cash Assets from Start-up $150,000
Cash Requirements from Start-up $258,450
Additional Cash Raised $0
Cash Balance on Starting Date $458,700
TOTAL ASSETS $867,150
CAPITALS AND LIABILITIES
Liabilities
Current Borrowing $200,000
Long-term Liabilities $150,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
TOTAL LIABILITIES $350,000
CAPITAL
Planned Investment
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Investor 1 $205,205
Investor 2 $360,000
Dalton Grant $325,470
Additional Investment Requirement $0
TOTAL PLANNED INVESTMENT $890,675
The loss at Start-up (Start-up Expenses) ($200,080)
TOTAL CAPITAL $285,390
TOTAL CAPITAL AND LIABILITIES $1,217,150
Total Funding $1,907,745
Feedback – The calculations for the startup cash is done on the basis of the various
assumptions and since the startup is about a software service, therefore, it may not
require this much funds, but on later stages, the funding will be helpful in spreading the
software around the world.
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OPERATIONAL PLAN
COMPONENTS FOR PRODUCTION PROCESS
The main components for the production process of the software are:
 Developers – The manpower and the skills include the production team which
will develop the software.
 Software and Tools – Then there will be the software tools and the hardware
requirements for the production of the software.
 SDLC – The models and the theories that will be used to plan the production
map of the product is also a major component of the production (Mahalakshmi
and Sundararajan, 2013).
The key areas of value creation can be identified by using Porter's Value Chain Model:
Sr.
No.
Components of
Production
Elaboration
1. Inbound Logistics This will include the maintenance of the latest
technology and other components like manpower
and skillset that keep the product running and
upgrading in the organization (Gereffi and
Fernandez-Stark, 2011).
2. Production This will include the activities like programming the
backend, front end designing, UI updating, etc.
3. Outbound logistics This includes the deployment of the product on the
servers and buying of the services like SEO for
distribution of the product.
4. Marketing and Sales The marketing will include offers for the customers,
paid adverts, promotions, etc. so that the product
awareness can be increased. This will also include
trend identification for understanding the customer
needs in the market.
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