Assignment On Business Plan 201k2
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ASSIGNMENT on
Business Plan
Submitted to :
Submitted by :
Abdullah M. Taher Faculty, School of Business Course: Production & Operation Management [B2602] AUB, Dhanmondi Campus Dhaka, Bangladesh.
Shantanu Das BBA, 29th Batch (B) ID: 200712883 AUB, Dhanmondi Campus Dhaka, Bangladesh.
Date of Submission: 09-03-2010.
BUSINESS PLAN
GlobeNet Wireless Broadband [Wi-MAX ISP]
Prepared by: Serial 1 2 3 4 5
Name Shantanu Das Sk. Saiful Islam Rozin Mehedi Hassan Sayed Sayem Ali A.M.D. Abu Sufian Rashed
Copyright 2010, GlobeNet Wireless Broadband
ID 200712883 200710522 200710466 200710469 200710487
Page 2 of 28
Table of Contents Serial
Subject
Co-subject
Page
1
Executive Summary 1.1 1.2 1.3
Mission Keys to Success Objectives
03 04 04 04
Company Summary 2.1 2.2
Company Ownership Start-up Summary
05 05 05
2
3
Service
07
4
Market Analysis Summary 4.1 4.2 4.3 4.3.1
08 08 09 09 10
5
6
7
8
9
Market Segmentation Target Market Segment Strategy Service Business Analysis Competition and Buying Patterns
Strategy and Implementation Summary 5.1 5.2 5.3 5.3.1 5.4
Competitive Edge Marketing Strategy Sales Strategy Sales Forecast Milestones
10 11 11 11 13
Web Plan Summary 6.1 6.2
Website Marketing Strategy Development Requirements
14 14 14
Management Summary 7.1
Personnel Plan
14 15
Break-even Analysis Projected Profit and Loss Projected Cash Flow Projected Balance Sheet Business Ratios
15 15 16 19 20 21
Financial Plan 8.1 8.2 8.3 8.4 8.5 Appendix
Copyright 2010, GlobeNet Wireless Broadband
10
23
Page 3 of 28
Executive Summary GlobeNet Wireless Broadband is an innovative start-up company that provides wireless broadband internet connections to several Dhaka Metropolitan Areas. Utilizing Wi-MAX technology and proprietary antennas and repeaters, GlobeNet will be able to serve a larger area with broadband Internet connections. GlobeNet was been founded by Fahad Karim. With a MBA and an undergraduate Computer Science degree from the Harvard University (USA), Fahad has the skills to execute on this well-researched business plan. Fahad spent two years in the Karim Associates, which gave him not only an incredible and reasonable boost in confidence to accomplish a business venture, but also provided him with solid project management skills and experience. The market for wireless broadband Internet connections in Bangladesh is new but is widely open. Demand for traditional broadband connections is suring conservative forecasts. The wireless market is even more exciting due to the significantly lower costs needed in of delivery infrastructure. As GlobeNet's customer base grows, costs decrease through scales of economy, creating an even more compelling argument for GlobeNet's existence. GlobeNet has targeted three distinct groups. The first is students, a market segment that uses the Internet the most and also have high expectations regarding the speed of the connection. The second group is professionals, people with disposable income, not a lot of excessive time on their hands, and a group that uses the Internet a fair amount, both personally as well as professionally. The last group that will be targeted is techies. This group is the early adopters of any type of technology and spend incredible amounts of time immersed in Internet technology. GlobeNet is a compelling business concept that leverages advances in technology and proprietary tools to offer a market need at below market prices. In addition to earning great margins with low infrastructure costs, margins increase as the customer base increases. This exciting business plan has a high likelihood of success with Fahad Karim responsible for the execution of it. The business will earn modest profits in year two, increasing exponentially in year three. Net profit is forecasted to be commensurate in years two and three.
Copyright 2010, GlobeNet Wireless Broadband
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1.1 Mission It is GlobeNet Wireless's mission to provide fast, wireless Internet access at a reasonable price. The most important thing to is that every customer must be satisfied with our services.
1.2 Keys to Success
Practice disciplined growth. Reach profitability by year two. Ensure that the customer's needs are met and maintain a 90% customer retention ratio.
1.3 Objectives
Provide, fast, reliable, wireless Internet access. Treat customers with the upmost respect. Become profitable within two years.
Copyright 2010, GlobeNet Wireless Broadband
Page 5 of 28
Company Summary GlobeNet Wireless will be formed in 2011 to offer an inexpensive, wireless broadband Internet connection to compete with DSL or cable offerings. Using Wi-MAX technology, it is inexpensive to set up a neighborhood network. The company was founded by Fahad Karim. Fahad will rely on outside investors for the necessary start-up costs.
2.1 Company Ownership GlobeNet Broadband Wireless is a Wi-NET BD Pvt. Ltd. company with Fahad Karim as the principal and majority owner.
2.2 Start-up Summary Equipment that will be needed is as follows:
Three computer workstations; Wireless access point; Five repeaters; Five antennas; Assorted office equipment and supplies.
Copyright 2010, GlobeNet Wireless Broadband
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Start-up Funding Start-up Expenses to Fund
$9,500
Start-up Assets to Fund
$60,500
Total Funding Required
$70,000
Assets Non-cash Assets from Start-up
$5,000
Cash Requirements from Start-up
$55,500
Additional Cash Raised
$0
Cash Balance on Starting Date
$55,500
Total Assets
$60,500
Liabilities and Capital Liabilities Current Borrowing
$0
Long-term Liabilities
$0
s Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities
$0
Capital Planned Investment Investor 1
$15,000
Investor 2
$55,000
Additional Investment Requirement
$0
Total Planned Investment
$70,000
Loss at Start-up (Start-up Expenses) ($9,500) Total Capital
$60,500
Total Capital and Liabilities
$60,500
Total Funding
$70,000
Copyright 2010, GlobeNet Wireless Broadband
Page 7 of 28
Start-up Requirements Start-up Expenses Legal Stationery etc. Consultants Insurance Rent Research and Development Expensed Equipment Total Start-up Expenses
$2,000 $100 $1,000 $200 $200 $1,000 $5,000 $9,500
Start-up Assets Cash Required Other Current Assets Long-term Assets Total Assets
$55,500 $0 $5,000 $60,500
Total Requirements
$70,000
Services GlobeNet offers wireless broadband Internet access. The service is DSL speed with customers only needing a Wi-MAX card/modem and to live within range of the signal which covers a thirty block radius currently. There are plans to enlarge the coverage area as more customers sign up. Wi-MAX technology is based off of 2.4 Mhz spectrum wireless transmissions. Using the same wave lengths that some cordless phones use, the Internet signals are broadcasted out through the neighborhood. With the supplied and a Wi-MAX receiver in each customer's computer, customers will have fast, wireless Internet connections.
Copyright 2010, GlobeNet Wireless Broadband
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Market Analysis Summary Within the last three years there has been a proliferation of broadband Internet connections. With so many people enjoying fast connections at work, they are no longer willing to deal with a dial-up connection at home. With the advent of Wi-MAX technology, customers can now enjoy a fast connection without having to lay expensive cables since the signal is sent via radio waves. The targeted market segments are: students, professionals, techies.
4.1 Market Segmentation The market can be segmented into three distinct groups:
Students: these are people currently in academia and are accustomed to fast connections and are willing to pay for it. This group uses the Internet the most, whether they are trading MP3s or ing videos.
Professionals: this group conducts a fair amount of business over the Internet, whether banking, e-commerce, or communications.
Techies: this group embraces technology as they enjoy challenging themselves with technology and the complexity it brings.
Other than the students, GlobeNet' customers are fairly affluent (household income of >$50,000) and spend their money on technology offerings, whether it is digital cable, cellular service, or broadband Internet connections. The target customers are also generally well educated with 65% having a college degree and 20% having a graduate degree. Combining several demographic factors, GlobeNet arrives at the following primary customer profile:
Spends 10 hours a week on the Internet away from home. Has purchased something from a website at least once within the last two months. Educated with at least some course work for an undergraduate degree. Household income of at least $50,000.
Copyright 2010, GlobeNet Wireless Broadband
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Market Analysis Year 1 Year 2 Year 3 Potential Customers Students Professionals Techies Total
Year 4
Year 5
Growth 9% 8% 11% 8.87%
CAGR 54,000 34,000 10,000 98,000
58,860 36,720 11,100 106,680
64,157 39,658 12,321 116,136
69,931 42,831 13,676 126,438
76,225 46,257 15,180 137,662
9.00% 8.00% 11.00% 8.87%
4.2 Target Market Segment Strategy GlobeNet has chosen the three aforementioned target markets due to their adoption of broadband Internet technology. It is these three groups that are most likely to use a fast connection and the most willing to pay a for the connection.
4.3 Service Business Analysis There are three main participants within the consumer broadband Internet market.
DSL (digital subscriber line). A connection that utilizes the copper phone lines as the method of transmission. Cable. A connection that uses cable TV wiring for transmission. Satellite connections. These use satellites, in orbit to provide "cable" TV as well as Internet connections to residential and remote consumers.
Copyright 2010, GlobeNet Wireless Broadband
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4.3.1 Competition and Buying Patterns As mentioned in the previous section, DSL, cable, and satellite access are the competitors in the broadband market. Consumer buying patterns are based on two factors:
Availability: not every type of broadband connection is available to every consumer. Consumers often pick service providers based on what is available to them.
Convenience: this is often based on where the outlet cords are based in the house, whether the computer will be located closer to the cable TV or nearer to a phone jack.
Strategy and Implementation Summary Simply put, GlobeNet' strategy is to offer a service, demanded by customers, at a price that undercuts the competition. This will be accomplished, not by accepting below-market margins, but by leveraging technology, to help drive GlobeNet' costs down. Awareness regarding GlobeNet' services will be generated effectively and inexpensively to the specific target segments that GlobeNet has focused on.
5.1 Competitive Edge GlobeNet' competitive edge is the effective and efficient use of Wi-MAX technology. Wi-MAX, while a fairly recent technology, has been adopted by several different service providers as well as used for home-based networks. What provides GlobeNet with a competitive edge is its efficient use of the technology. GlobeNet has developed a proprietary antenna that allows for signal transmission over great distances with less signal loss. Additionally, GlobeNet has significantly reduced istrative costs by having most istrative activities like marketing, sales, and service details istered via the Internet.
Copyright 2010, GlobeNet Wireless Broadband
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5.2 Marketing Strategy As the name implies, GlobeNet will be using a GlobeNet approach to developing awareness of the offered services. GlobeNet will adopt a multipronged marketing approach:
Advertising/postings with local retailers and commercial businesses. This will provide GlobeNet with great visibility in the exact community that it operates in. Mailings. GlobeNet will adopt a targeted mailing campaign to local residents. Website. GlobeNet will leverage its website as a comprehensive and efficient source of marketing/sales information.
5.3 Sales Strategy The sales strategy that GlobeNet will adopt is based on developing an awareness of GlobeNet' service as a viable alternative to Cable and DSL within the community. The message used will be that you can receive broadband speed connections to your computer, wherever it may be, even your laptop on your front lawn, at a price that is a fraction of the current competitors'. This will be done with targeted advertising with local retail/commercial establishments in the area. Additionally, GlobeNet will rely on mailings to get the word out. Lastly, GlobeNet will have a website for marketing, sales, and istrative purposes.
5.3.1 Sales Forecast GlobeNet has developed a conservative sales forecast. Adoption rates of customers are fairly steady from one month to the next. A conservative approach has been adopted to minimize any external variables that may effect future operations. GlobeNet believes that it will experience extensive growth for several years for several reasons. The first is the general adoption of broadband connections which has been encouraging for the last several years. Another reason GlobeNet believes their forecast to be accurate is it offers a viable, less expensive alternative to current broadband connections.
Copyright 2010, GlobeNet Wireless Broadband
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Sales Forecast Year 1
Year 2
Year 3
Monthly Internet Service
$36,584
$132,665 $211,443
Other
$0
$0
Total Sales
$36,584
$132,665 $211,443
Direct Cost of Sales
Year 1
Year 2
Year 3
istrative costs
$1,829
$6,633
$10,572
Other
$0
$0
$0
$6,633
$10,572
Sales
Subtotal Direct Cost of Sales $1,829
Copyright 2010, GlobeNet Wireless Broadband
$0
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5.4 Milestones Milestones are a very important aspect of a business plan. They provide concrete, achievable, yet lofty goals that the business must concentrate on. By targeting lofty goals, GlobeNet ensures that it is aiming high, therefore it is more likely to achieve more. The milestones that GlobeNet has chosen are very specific to the company and will be embraced by all employees.
Milestones Milestone Business plan completion First 10 customers Profitability Enlargement of the network Totals
Start Date End Date Budget
Manager Department
1/1/2003
2/1/2003
$0
Fahad
Management
1/1/2003 1/1/2003
3/30/2003 $0 2/1/2004 $0
Fahad Fahad
Sales Operations
1/1/2003
2/1/2004
Fahad
Operations
Copyright 2010, GlobeNet Wireless Broadband
$0 $0
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Web Plan Summary The website will be used for:
Marketing/sales; istrative functions.
6.1 Website Marketing Strategy All of GlobeNet' marketing information will be present on the website for viewing and for ing/printing. Awareness regarding the website will be accomplished by inclusion of the website address on all printed materials. Additionally, the website will have a comprehensive submission procedure to all of the popular search engines.
6.2 Development Requirements The website will be developed in-house by leveraging interns.
Management Summary Fahad Karim, founder and president will be the anchor of the management team. Fahad received his undergraduate degree in computer science from the HARVARD University. While Fahad enjoyed the course work he recognized that it was not something that he was interested in pursuing as a career. Fahad decided that it would be in his best interest to study for an MBA, however, he was not immediately ready to do this. So Fahad headed off to Ghana with the Peace Corps to develop community-based trading systems. Fahad's Peace Corp experience was invaluable, providing him with extensive project management experience as well as giving him confidence that he could accomplish anything he set his mind out to do. After getting back to the States, Fahad began the MBA program at the University of Chicago. Fahad's course of study concentrated on entrepreneurial ventures, recognizing at some point his desire to start his own business. Near the end of his second year, Fahad began to hear about WiMAX technology. He became interested in what he saw was a strong market need for inexpensive broadband Internet connections transmitted wirelessly, thereby significantly decreasing delivery costs. Fahad formed GlobeNet Wireless to fulfill this market need.
Copyright 2010, GlobeNet Wireless Broadband
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7.1 Personnel Plan The two main employees beyond Fahad are:
Technician: this position is responsible for the smooth operation of the wireless network as well as the website.
istration: this is a general customer service position, assisting in sales and .
President Technician istration Total People
Personnel Plan Year 1 $24,000 $19,800 $15,000 3
Total Payroll
Year 2 $36,000 $21,600 $18,000 3
Year 3 $48,000 $21,600 $18,000 3
$58,800 $75,600 $87,600
Financial Plan The following sections outline important financial information.
8.1 Break-even Analysis Average per-unit revenue: based on the $20 monthly access fee. Average per-unit variable cost: costs based on infrastructure, and istrative costs. Estimated monthly fixed costs: Internet connections costs.
Copyright 2010, GlobeNet Wireless Broadband
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Break-even Analysis
Monthly Revenue Break-even
$8,072
Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost
5% $7,668
8.2 Projected Profit and Loss The following table and charts show the Projected Profit and Loss.
Copyright 2010, GlobeNet Wireless Broadband
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Copyright 2010, GlobeNet Wireless Broadband
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Pro Forma Profit and Loss Year 1
Year 2
Year 3
Sales
$36,584
$132,665
$211,443
Direct Cost of Sales
$1,829
$6,633
$10,572
Other Costs of Sales
$0
$0
$0
Total Cost of Sales
$1,829
$6,633
$10,572
Gross Margin
$34,755
$126,032
$200,871
Gross Margin %
95.00%
95.00%
95.00%
Expenses Payroll
$58,800
Sales and Marketing and Other Expenses $2,400
$75,600
$87,600
$5,600
$12,000
Depreciation
$996
$1,002
$1,002
Rent
$2,400
$2,400
$2,400
Utilities
$9,600
$13,000
$15,000
Insurance
$3,000
$3,000
$3,000
Payroll Taxes
$8,820
$11,340
$13,140
Other
$6,000
$6,000
$6,000
Total Operating Expenses
$92,016
$117,942
$140,142
Profit Before Interest and Taxes
($57,261)
$8,090
$60,729
EBITDA
($56,265)
$9,092
$61,731
Interest Expense
$0
$0
$0
Taxes Incurred
$0
$2,427
$18,219
Net Profit
($57,261)
$5,663
$42,510
Net Profit/Sales
-156.52%
4.27%
20.10%
Copyright 2010, GlobeNet Wireless Broadband
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8.3 Projected Cash Flow The following table and chart display the Projected Cash Flow.
Pro Forma Cash Flow Year 1
Year 2
Year 3
Cash Sales
$36,584
$132,665
$211,443
Subtotal Cash from Operations
$36,584
$132,665
$211,443
Sales Tax, VAT, HST/GST Received
$0
$0
$0
New Current Borrowing
$0
$0
$0
New Other Liabilities (interest-free)
$0
$0
$0
New Long-term Liabilities
$0
$0
$0
Cash Received Cash from Operations
Additional Cash Received
Sales of Other Current Assets
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
New Investment Received
$0
$0
$0
Subtotal Cash Received
$36,584
$132,665
$211,443
Expenditures
Year 1
Year 2
Year 3
Cash Spending
$58,800
$75,600
$87,600
Bill Payments
$31,112
$49,195
$77,871
Subtotal Spent on Operations
$89,912
$124,795
$165,471
Expenditures from Operations
Copyright 2010, GlobeNet Wireless Broadband
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Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out
$0
$0
$0
Principal Repayment of Current Borrowing $0
$0
$0
Other Liabilities Principal Repayment
$0
$0
$0
Long-term Liabilities Principal Repayment $0
$0
$0
Purchase Other Current Assets
$0
$0
$0
Purchase Long-term Assets
$0
$0
$0
Dividends
$0
$0
$0
Subtotal Cash Spent
$89,912
$124,795
$165,471
Net Cash Flow
($53,328)
$7,870
$45,972
Cash Balance
$2,172
$10,042
$56,014
8.4 Projected Balance Sheet The following table presents the Projected Balance Sheet. Pro Forma Balance Sheet Year 1
Year 2
Year 3
Cash
$2,172
$10,042
$56,014
Other Current Assets
$0
$0
$0
Total Current Assets
$2,172
$10,042
$56,014
Assets Current Assets
Long-term Assets Long-term Assets
$5,000
$5,000
Accumulated Depreciation $996
$5,000
$1,998
$3,000
Total Long-term Assets
$4,004
$3,002
$2,000
Total Assets
$6,176
$13,044
$58,014
Liabilities and Capital
Year 1
Year 2
Year 3
s Payable
$2,938
$4,142
$6,603
Current Borrowing
$0
$0
$0
Other Current Liabilities
$0
Current Liabilities
Subtotal Current Liabilities $2,938
$0
$0
$4,142
$6,603
Long-term Liabilities
$0
$0
$0
Total Liabilities
$2,938
$4,142
$6,603
Copyright 2010, GlobeNet Wireless Broadband
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Paid-in Capital
$70,000
$70,000
Retained Earnings
($9,500)
($66,761) ($61,098)
$70,000
Earnings
($57,261) $5,663
Total Capital
$3,239
$42,510
$8,902
$51,412
Total Liabilities and Capital $6,176
$13,044
$58,014
Net Worth
$8,902
$51,412
$3,239
8.5 Business Ratios The following table illustrates the different Business Ratios, based on NAICS code 518111, Internet Service Providers.
Ratio Analysis Sales Growth
Year 1
Year 2
Year 3
Industry Profile
0.00%
262.63%
59.38%
15.97%
0.00%
0.00%
0.00%
56.35%
Percent of Total Assets Other Current Assets Total Current Assets
35.17%
76.99%
96.55%
87.48%
Long-term Assets
64.83%
23.01%
3.45%
12.52%
Total Assets
100.00%
100.00%
100.00%
100.00%
Current Liabilities
47.56%
31.76%
11.38%
30.66%
Long-term Liabilities
0.00%
0.00%
0.00%
23.07%
Total Liabilities
47.56%
31.76%
11.38%
53.73%
Net Worth
52.44%
68.24%
88.62%
46.27%
Percent of Sales Sales
100.00%
100.00%
100.00%
100.00%
Gross Margin
95.00%
95.00%
95.00%
100.00%
251.52%
90.73%
74.90%
73.80%
Selling, General Expenses
&
istrative
Advertising Expenses
0.00%
0.00%
0.00%
1.37%
Profit Before Interest and Taxes
-156.52%
6.10%
28.72%
1.03%
Current
0.74
2.42
8.48
1.97
Quick
0.74
2.42
8.48
1.50
Total Debt to Total Assets
47.56%
31.76%
11.38%
59.78%
Pre-tax Return on Net Worth
-1767.98%
90.88%
118.12%
2.93%
Pre-tax Return on Assets
-927.10%
62.02%
104.68%
7.28%
Main Ratios
Copyright 2010, GlobeNet Wireless Broadband
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Additional Ratios
Year 1
Year 2
Year 3
Net Profit Margin
-156.52%
4.27%
20.10%
n.a
Return on Equity
-1767.98%
63.62%
82.69%
n.a
11.59
12.17
12.17
n.a
Activity Ratios s Payable Turnover Payment Days
27
26
24
n.a
Total Asset Turnover
5.92
10.17
3.64
n.a
Debt to Net Worth
0.91
0.47
0.13
n.a
Current Liab. to Liab.
1.00
1.00
1.00
n.a
Net Working Capital
($765)
$5,900
$49,412
n.a
Interest Coverage
0.00
0.00
0.00
n.a
Assets to Sales
0.17
0.10
0.27
n.a
Current Debt/Total Assets
48%
32%
11%
n.a
Acid Test
0.74
2.42
8.48
n.a
Sales/Net Worth
11.30
14.90
4.11
n.a
Dividend Payout
0.00
0.00
0.00
n.a
Debt Ratios
Liquidity Ratios
Additional Ratios
Copyright 2010, GlobeNet Wireless Broadband
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Appendix Sales Forecast Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Sales Monthly Internet 0% $0 Service
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Other
0% $0
$0
$0
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Total Sales Direct Sales
Cost
of
$0
$0
$0
$0
$0
$0
$0
$0
$0
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
istrative costs
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Other
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Direct Cost of Sales
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Personnel Plan Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 President
0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Technician
0% $0
$1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
istration
0% $0
$0
$1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
2
3
Total People
1
3
3
3
3
3
3
3
3
3
Total Payroll
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
General Assumptions Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Plan Month
1
2
3
4
5
6
7
8
9
10
11
12
Current Interest Rate
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Longterm Interest Rate
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Other
0
0
0
0
0
Copyright 2010, GlobeNet Wireless Broadband
0
0
0
0
0
0
0
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Pro Forma Profit and Loss Month Month Month 1 2 3 Sales
Month 4
Month 5
Month 6
Month 7
Month 8
Month Month Month Month 9 10 11 12
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
of
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
of
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Cost of Sales
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Gross Margin
$0
$0
$1,140 $2,006 $2,417 $2,743 $3,366 $3,683 $4,106 $4,654 $5,057 $5,583
Gross Margin %
0.00% 0.00%
Direct Cost Sales Other Costs Sales
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
Expenses Payroll
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
Sales and Marketing and Other Expenses
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Depreciati on
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
Rent
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Utilities
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$300
$570
$795
$795
$795
$795
$795
$795
$795
$795
$795
$795
Other
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
Total Operating Expenses
$4,333 $6,403 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128
Profit Before Interest and Taxes
($4,33 ($6,40 ($6,98 3) 3) 8)
($6,12 2)
($5,71 1)
($5,38 5)
($4,76 2)
($4,44 5)
($4,02 ($3,47 ($3,07 ($2,54 2) 4) 1) 5)
EBITDA
($4,25 ($6,32 ($6,90 0) 0) 5)
($6,03 9)
($5,62 8)
($5,30 2)
($4,67 9)
($4,36 2)
($3,93 ($3,39 ($2,98 ($2,46 9) 1) 8) 2)
Interest Expense
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Taxes Incurred
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Net Profit
($4,33 ($6,40 ($6,98 3) 3) 8)
($6,12 2)
($5,71 1)
($5,38 5)
($4,76 2)
($4,44 5)
($4,02 ($3,47 ($3,07 ($2,54 2) 4) 1) 5)
Net Profit/Sale s
0.00% 0.00% 582.33 289.85 224.50 186.54 134.41 114.65 93.06 % % % % % % %
Insurance Payroll Taxes
15 %
Copyright 2010, GlobeNet Wireless Broadband
70.91 %
57.70 %
43.30 %
Page 25 of 28
Pro Forma Cash Flow Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Cash Received Cash from Operations Cash Sales
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Subtotal Cash from Operations
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Sales Tax, 0.00 VAT, $0 HST/GST % Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Current Borrowing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Other Liabilities (interestfree)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Longterm Liabilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sales of Other Current Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Investment Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Cash Received
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Expenditur es
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
Additional Cash Received
Expenditur es from Operations Cash Spending
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
Bill Payments
$75
Subtotal Spent on Operations
$2,075 $6,059 $7,830 $8,107 $8,151 $8,173 $8,190 $8,223 $8,240 $8,262 $8,291 $8,312
$2,259 $2,530 $2,807 $2,851 $2,873 $2,890 $2,923 $2,940 $2,962 $2,991 $3,012
Additional
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Cash Spent Sales Tax, VAT, HST/GST Paid Out
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Principal Repaymen t of Current Borrowing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Other Liabilities Principal Repaymen t
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Long-term Liabilities Principal Repaymen t
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Purchase Other Current Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Purchase Long-term Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Cash Spent
$2,075 $6,059 $7,830 $8,107 $8,151 $8,173 $8,190 $8,223 $8,240 $8,262 $8,291 $8,312
Net Cash Flow
($2,07 ($6,05 ($6,63 ($5,99 ($5,60 ($5,28 ($4,64 ($4,34 ($3,91 ($3,36 ($2,96 ($2,43 5) 9) 0) 5) 7) 6) 7) 6) 8) 3) 8) 5)
Cash Balance
$53,42 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 5 6 7 2 5 9 1 6 8
Pro Forma Balance Sheet Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Assets
Startin g Balanc es
Current Assets Cash
$55,50 $53,4 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 0 25 6 7 2 5 9 1 6 8
Other Current Assets
$0
Total Current Assets
$55,50 $53,4 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 0 25 6 7 2 5 9 1 6 8
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Longterm
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Assets Longterm Assets
$5,000
$5,00 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 0
Accumul ated $0 Depreciat ion
$83
Total Longterm Assets
$5,000
$4,91 $4,834 $4,751 $4,668 $4,585 $4,502 $4,419 $4,336 $4,253 $4,170 $4,087 $4,004 7
Total Assets
$60,50 $58,3 $52,20 $45,48 $39,41 $33,72 $28,35 $23,62 $19,19 $15,19 $11,74 $8,694 $6,176 0 42 0 8 0 0 1 0 2 1 5
Liabilities and Capital
$166
$249
$332
$415
$498
$581
$664
$747
$830
$913
$996
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Liabilities s $0 Payable
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Current Borrowin $0 g
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Other Current $0 Liabilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Current $0 Liabilities
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Long$0 term Liabilities
$0
Total $0 Liabilities
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Paid-in Capital
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$70,00 $70,0 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 0 00 0 0 0 0 0 0 0 0 0 0 0
Retained ($9,50 ($9,5 Earnings 0) 00)
($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0)
($4,3 33)
($10,7 ($17,7 ($23,8 ($29,5 ($34,9 ($39,7 ($44,1 ($48,1 ($51,6 ($54,7 ($57,2 36) 24) 46) 57) 42) 04) 49) 71) 45) 16) 61)
Earnings $0 Total Capital
$60,50 $56,1 $49,76 $42,77 $36,65 $30,94 $25,55 $20,79 $16,35 $12,32 $8,855 $5,784 $3,239 0 67 4 6 4 3 8 6 1 9
Total Liabilities $60,50 $58,3 $52,20 $45,48 $39,41 $33,72 $28,35 $23,62 $19,19 $15,19 $11,74 $8,694 $6,176 and 0 42 0 8 0 0 1 0 2 1 5 Capital Net Worth
$60,50 $56,1 $49,76 $42,77 $36,65 $30,94 $25,55 $20,79 $16,35 $12,32 $8,855 $5,784 $3,239 0 67 4 6 4 3 8 6 1 9
Copyright 2010, GlobeNet Wireless Broadband
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Business Plan
Submitted to :
Submitted by :
Abdullah M. Taher Faculty, School of Business Course: Production & Operation Management [B2602] AUB, Dhanmondi Campus Dhaka, Bangladesh.
Shantanu Das BBA, 29th Batch (B) ID: 200712883 AUB, Dhanmondi Campus Dhaka, Bangladesh.
Date of Submission: 09-03-2010.
BUSINESS PLAN
GlobeNet Wireless Broadband [Wi-MAX ISP]
Prepared by: Serial 1 2 3 4 5
Name Shantanu Das Sk. Saiful Islam Rozin Mehedi Hassan Sayed Sayem Ali A.M.D. Abu Sufian Rashed
Copyright 2010, GlobeNet Wireless Broadband
ID 200712883 200710522 200710466 200710469 200710487
Page 2 of 28
Table of Contents Serial
Subject
Co-subject
Page
1
Executive Summary 1.1 1.2 1.3
Mission Keys to Success Objectives
03 04 04 04
Company Summary 2.1 2.2
Company Ownership Start-up Summary
05 05 05
2
3
Service
07
4
Market Analysis Summary 4.1 4.2 4.3 4.3.1
08 08 09 09 10
5
6
7
8
9
Market Segmentation Target Market Segment Strategy Service Business Analysis Competition and Buying Patterns
Strategy and Implementation Summary 5.1 5.2 5.3 5.3.1 5.4
Competitive Edge Marketing Strategy Sales Strategy Sales Forecast Milestones
10 11 11 11 13
Web Plan Summary 6.1 6.2
Website Marketing Strategy Development Requirements
14 14 14
Management Summary 7.1
Personnel Plan
14 15
Break-even Analysis Projected Profit and Loss Projected Cash Flow Projected Balance Sheet Business Ratios
15 15 16 19 20 21
Financial Plan 8.1 8.2 8.3 8.4 8.5 Appendix
Copyright 2010, GlobeNet Wireless Broadband
10
23
Page 3 of 28
Executive Summary GlobeNet Wireless Broadband is an innovative start-up company that provides wireless broadband internet connections to several Dhaka Metropolitan Areas. Utilizing Wi-MAX technology and proprietary antennas and repeaters, GlobeNet will be able to serve a larger area with broadband Internet connections. GlobeNet was been founded by Fahad Karim. With a MBA and an undergraduate Computer Science degree from the Harvard University (USA), Fahad has the skills to execute on this well-researched business plan. Fahad spent two years in the Karim Associates, which gave him not only an incredible and reasonable boost in confidence to accomplish a business venture, but also provided him with solid project management skills and experience. The market for wireless broadband Internet connections in Bangladesh is new but is widely open. Demand for traditional broadband connections is suring conservative forecasts. The wireless market is even more exciting due to the significantly lower costs needed in of delivery infrastructure. As GlobeNet's customer base grows, costs decrease through scales of economy, creating an even more compelling argument for GlobeNet's existence. GlobeNet has targeted three distinct groups. The first is students, a market segment that uses the Internet the most and also have high expectations regarding the speed of the connection. The second group is professionals, people with disposable income, not a lot of excessive time on their hands, and a group that uses the Internet a fair amount, both personally as well as professionally. The last group that will be targeted is techies. This group is the early adopters of any type of technology and spend incredible amounts of time immersed in Internet technology. GlobeNet is a compelling business concept that leverages advances in technology and proprietary tools to offer a market need at below market prices. In addition to earning great margins with low infrastructure costs, margins increase as the customer base increases. This exciting business plan has a high likelihood of success with Fahad Karim responsible for the execution of it. The business will earn modest profits in year two, increasing exponentially in year three. Net profit is forecasted to be commensurate in years two and three.
Copyright 2010, GlobeNet Wireless Broadband
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1.1 Mission It is GlobeNet Wireless's mission to provide fast, wireless Internet access at a reasonable price. The most important thing to is that every customer must be satisfied with our services.
1.2 Keys to Success
Practice disciplined growth. Reach profitability by year two. Ensure that the customer's needs are met and maintain a 90% customer retention ratio.
1.3 Objectives
Provide, fast, reliable, wireless Internet access. Treat customers with the upmost respect. Become profitable within two years.
Copyright 2010, GlobeNet Wireless Broadband
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Company Summary GlobeNet Wireless will be formed in 2011 to offer an inexpensive, wireless broadband Internet connection to compete with DSL or cable offerings. Using Wi-MAX technology, it is inexpensive to set up a neighborhood network. The company was founded by Fahad Karim. Fahad will rely on outside investors for the necessary start-up costs.
2.1 Company Ownership GlobeNet Broadband Wireless is a Wi-NET BD Pvt. Ltd. company with Fahad Karim as the principal and majority owner.
2.2 Start-up Summary Equipment that will be needed is as follows:
Three computer workstations; Wireless access point; Five repeaters; Five antennas; Assorted office equipment and supplies.
Copyright 2010, GlobeNet Wireless Broadband
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Start-up Funding Start-up Expenses to Fund
$9,500
Start-up Assets to Fund
$60,500
Total Funding Required
$70,000
Assets Non-cash Assets from Start-up
$5,000
Cash Requirements from Start-up
$55,500
Additional Cash Raised
$0
Cash Balance on Starting Date
$55,500
Total Assets
$60,500
Liabilities and Capital Liabilities Current Borrowing
$0
Long-term Liabilities
$0
s Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities
$0
Capital Planned Investment Investor 1
$15,000
Investor 2
$55,000
Additional Investment Requirement
$0
Total Planned Investment
$70,000
Loss at Start-up (Start-up Expenses) ($9,500) Total Capital
$60,500
Total Capital and Liabilities
$60,500
Total Funding
$70,000
Copyright 2010, GlobeNet Wireless Broadband
Page 7 of 28
Start-up Requirements Start-up Expenses Legal Stationery etc. Consultants Insurance Rent Research and Development Expensed Equipment Total Start-up Expenses
$2,000 $100 $1,000 $200 $200 $1,000 $5,000 $9,500
Start-up Assets Cash Required Other Current Assets Long-term Assets Total Assets
$55,500 $0 $5,000 $60,500
Total Requirements
$70,000
Services GlobeNet offers wireless broadband Internet access. The service is DSL speed with customers only needing a Wi-MAX card/modem and to live within range of the signal which covers a thirty block radius currently. There are plans to enlarge the coverage area as more customers sign up. Wi-MAX technology is based off of 2.4 Mhz spectrum wireless transmissions. Using the same wave lengths that some cordless phones use, the Internet signals are broadcasted out through the neighborhood. With the supplied and a Wi-MAX receiver in each customer's computer, customers will have fast, wireless Internet connections.
Copyright 2010, GlobeNet Wireless Broadband
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Market Analysis Summary Within the last three years there has been a proliferation of broadband Internet connections. With so many people enjoying fast connections at work, they are no longer willing to deal with a dial-up connection at home. With the advent of Wi-MAX technology, customers can now enjoy a fast connection without having to lay expensive cables since the signal is sent via radio waves. The targeted market segments are: students, professionals, techies.
4.1 Market Segmentation The market can be segmented into three distinct groups:
Students: these are people currently in academia and are accustomed to fast connections and are willing to pay for it. This group uses the Internet the most, whether they are trading MP3s or ing videos.
Professionals: this group conducts a fair amount of business over the Internet, whether banking, e-commerce, or communications.
Techies: this group embraces technology as they enjoy challenging themselves with technology and the complexity it brings.
Other than the students, GlobeNet' customers are fairly affluent (household income of >$50,000) and spend their money on technology offerings, whether it is digital cable, cellular service, or broadband Internet connections. The target customers are also generally well educated with 65% having a college degree and 20% having a graduate degree. Combining several demographic factors, GlobeNet arrives at the following primary customer profile:
Spends 10 hours a week on the Internet away from home. Has purchased something from a website at least once within the last two months. Educated with at least some course work for an undergraduate degree. Household income of at least $50,000.
Copyright 2010, GlobeNet Wireless Broadband
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Market Analysis Year 1 Year 2 Year 3 Potential Customers Students Professionals Techies Total
Year 4
Year 5
Growth 9% 8% 11% 8.87%
CAGR 54,000 34,000 10,000 98,000
58,860 36,720 11,100 106,680
64,157 39,658 12,321 116,136
69,931 42,831 13,676 126,438
76,225 46,257 15,180 137,662
9.00% 8.00% 11.00% 8.87%
4.2 Target Market Segment Strategy GlobeNet has chosen the three aforementioned target markets due to their adoption of broadband Internet technology. It is these three groups that are most likely to use a fast connection and the most willing to pay a for the connection.
4.3 Service Business Analysis There are three main participants within the consumer broadband Internet market.
DSL (digital subscriber line). A connection that utilizes the copper phone lines as the method of transmission. Cable. A connection that uses cable TV wiring for transmission. Satellite connections. These use satellites, in orbit to provide "cable" TV as well as Internet connections to residential and remote consumers.
Copyright 2010, GlobeNet Wireless Broadband
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4.3.1 Competition and Buying Patterns As mentioned in the previous section, DSL, cable, and satellite access are the competitors in the broadband market. Consumer buying patterns are based on two factors:
Availability: not every type of broadband connection is available to every consumer. Consumers often pick service providers based on what is available to them.
Convenience: this is often based on where the outlet cords are based in the house, whether the computer will be located closer to the cable TV or nearer to a phone jack.
Strategy and Implementation Summary Simply put, GlobeNet' strategy is to offer a service, demanded by customers, at a price that undercuts the competition. This will be accomplished, not by accepting below-market margins, but by leveraging technology, to help drive GlobeNet' costs down. Awareness regarding GlobeNet' services will be generated effectively and inexpensively to the specific target segments that GlobeNet has focused on.
5.1 Competitive Edge GlobeNet' competitive edge is the effective and efficient use of Wi-MAX technology. Wi-MAX, while a fairly recent technology, has been adopted by several different service providers as well as used for home-based networks. What provides GlobeNet with a competitive edge is its efficient use of the technology. GlobeNet has developed a proprietary antenna that allows for signal transmission over great distances with less signal loss. Additionally, GlobeNet has significantly reduced istrative costs by having most istrative activities like marketing, sales, and service details istered via the Internet.
Copyright 2010, GlobeNet Wireless Broadband
Page 11 of 28
5.2 Marketing Strategy As the name implies, GlobeNet will be using a GlobeNet approach to developing awareness of the offered services. GlobeNet will adopt a multipronged marketing approach:
Advertising/postings with local retailers and commercial businesses. This will provide GlobeNet with great visibility in the exact community that it operates in. Mailings. GlobeNet will adopt a targeted mailing campaign to local residents. Website. GlobeNet will leverage its website as a comprehensive and efficient source of marketing/sales information.
5.3 Sales Strategy The sales strategy that GlobeNet will adopt is based on developing an awareness of GlobeNet' service as a viable alternative to Cable and DSL within the community. The message used will be that you can receive broadband speed connections to your computer, wherever it may be, even your laptop on your front lawn, at a price that is a fraction of the current competitors'. This will be done with targeted advertising with local retail/commercial establishments in the area. Additionally, GlobeNet will rely on mailings to get the word out. Lastly, GlobeNet will have a website for marketing, sales, and istrative purposes.
5.3.1 Sales Forecast GlobeNet has developed a conservative sales forecast. Adoption rates of customers are fairly steady from one month to the next. A conservative approach has been adopted to minimize any external variables that may effect future operations. GlobeNet believes that it will experience extensive growth for several years for several reasons. The first is the general adoption of broadband connections which has been encouraging for the last several years. Another reason GlobeNet believes their forecast to be accurate is it offers a viable, less expensive alternative to current broadband connections.
Copyright 2010, GlobeNet Wireless Broadband
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Sales Forecast Year 1
Year 2
Year 3
Monthly Internet Service
$36,584
$132,665 $211,443
Other
$0
$0
Total Sales
$36,584
$132,665 $211,443
Direct Cost of Sales
Year 1
Year 2
Year 3
istrative costs
$1,829
$6,633
$10,572
Other
$0
$0
$0
$6,633
$10,572
Sales
Subtotal Direct Cost of Sales $1,829
Copyright 2010, GlobeNet Wireless Broadband
$0
Page 13 of 28
5.4 Milestones Milestones are a very important aspect of a business plan. They provide concrete, achievable, yet lofty goals that the business must concentrate on. By targeting lofty goals, GlobeNet ensures that it is aiming high, therefore it is more likely to achieve more. The milestones that GlobeNet has chosen are very specific to the company and will be embraced by all employees.
Milestones Milestone Business plan completion First 10 customers Profitability Enlargement of the network Totals
Start Date End Date Budget
Manager Department
1/1/2003
2/1/2003
$0
Fahad
Management
1/1/2003 1/1/2003
3/30/2003 $0 2/1/2004 $0
Fahad Fahad
Sales Operations
1/1/2003
2/1/2004
Fahad
Operations
Copyright 2010, GlobeNet Wireless Broadband
$0 $0
Page 14 of 28
Web Plan Summary The website will be used for:
Marketing/sales; istrative functions.
6.1 Website Marketing Strategy All of GlobeNet' marketing information will be present on the website for viewing and for ing/printing. Awareness regarding the website will be accomplished by inclusion of the website address on all printed materials. Additionally, the website will have a comprehensive submission procedure to all of the popular search engines.
6.2 Development Requirements The website will be developed in-house by leveraging interns.
Management Summary Fahad Karim, founder and president will be the anchor of the management team. Fahad received his undergraduate degree in computer science from the HARVARD University. While Fahad enjoyed the course work he recognized that it was not something that he was interested in pursuing as a career. Fahad decided that it would be in his best interest to study for an MBA, however, he was not immediately ready to do this. So Fahad headed off to Ghana with the Peace Corps to develop community-based trading systems. Fahad's Peace Corp experience was invaluable, providing him with extensive project management experience as well as giving him confidence that he could accomplish anything he set his mind out to do. After getting back to the States, Fahad began the MBA program at the University of Chicago. Fahad's course of study concentrated on entrepreneurial ventures, recognizing at some point his desire to start his own business. Near the end of his second year, Fahad began to hear about WiMAX technology. He became interested in what he saw was a strong market need for inexpensive broadband Internet connections transmitted wirelessly, thereby significantly decreasing delivery costs. Fahad formed GlobeNet Wireless to fulfill this market need.
Copyright 2010, GlobeNet Wireless Broadband
Page 15 of 28
7.1 Personnel Plan The two main employees beyond Fahad are:
Technician: this position is responsible for the smooth operation of the wireless network as well as the website.
istration: this is a general customer service position, assisting in sales and .
President Technician istration Total People
Personnel Plan Year 1 $24,000 $19,800 $15,000 3
Total Payroll
Year 2 $36,000 $21,600 $18,000 3
Year 3 $48,000 $21,600 $18,000 3
$58,800 $75,600 $87,600
Financial Plan The following sections outline important financial information.
8.1 Break-even Analysis Average per-unit revenue: based on the $20 monthly access fee. Average per-unit variable cost: costs based on infrastructure, and istrative costs. Estimated monthly fixed costs: Internet connections costs.
Copyright 2010, GlobeNet Wireless Broadband
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Break-even Analysis
Monthly Revenue Break-even
$8,072
Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost
5% $7,668
8.2 Projected Profit and Loss The following table and charts show the Projected Profit and Loss.
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Pro Forma Profit and Loss Year 1
Year 2
Year 3
Sales
$36,584
$132,665
$211,443
Direct Cost of Sales
$1,829
$6,633
$10,572
Other Costs of Sales
$0
$0
$0
Total Cost of Sales
$1,829
$6,633
$10,572
Gross Margin
$34,755
$126,032
$200,871
Gross Margin %
95.00%
95.00%
95.00%
Expenses Payroll
$58,800
Sales and Marketing and Other Expenses $2,400
$75,600
$87,600
$5,600
$12,000
Depreciation
$996
$1,002
$1,002
Rent
$2,400
$2,400
$2,400
Utilities
$9,600
$13,000
$15,000
Insurance
$3,000
$3,000
$3,000
Payroll Taxes
$8,820
$11,340
$13,140
Other
$6,000
$6,000
$6,000
Total Operating Expenses
$92,016
$117,942
$140,142
Profit Before Interest and Taxes
($57,261)
$8,090
$60,729
EBITDA
($56,265)
$9,092
$61,731
Interest Expense
$0
$0
$0
Taxes Incurred
$0
$2,427
$18,219
Net Profit
($57,261)
$5,663
$42,510
Net Profit/Sales
-156.52%
4.27%
20.10%
Copyright 2010, GlobeNet Wireless Broadband
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8.3 Projected Cash Flow The following table and chart display the Projected Cash Flow.
Pro Forma Cash Flow Year 1
Year 2
Year 3
Cash Sales
$36,584
$132,665
$211,443
Subtotal Cash from Operations
$36,584
$132,665
$211,443
Sales Tax, VAT, HST/GST Received
$0
$0
$0
New Current Borrowing
$0
$0
$0
New Other Liabilities (interest-free)
$0
$0
$0
New Long-term Liabilities
$0
$0
$0
Cash Received Cash from Operations
Additional Cash Received
Sales of Other Current Assets
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
New Investment Received
$0
$0
$0
Subtotal Cash Received
$36,584
$132,665
$211,443
Expenditures
Year 1
Year 2
Year 3
Cash Spending
$58,800
$75,600
$87,600
Bill Payments
$31,112
$49,195
$77,871
Subtotal Spent on Operations
$89,912
$124,795
$165,471
Expenditures from Operations
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Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out
$0
$0
$0
Principal Repayment of Current Borrowing $0
$0
$0
Other Liabilities Principal Repayment
$0
$0
$0
Long-term Liabilities Principal Repayment $0
$0
$0
Purchase Other Current Assets
$0
$0
$0
Purchase Long-term Assets
$0
$0
$0
Dividends
$0
$0
$0
Subtotal Cash Spent
$89,912
$124,795
$165,471
Net Cash Flow
($53,328)
$7,870
$45,972
Cash Balance
$2,172
$10,042
$56,014
8.4 Projected Balance Sheet The following table presents the Projected Balance Sheet. Pro Forma Balance Sheet Year 1
Year 2
Year 3
Cash
$2,172
$10,042
$56,014
Other Current Assets
$0
$0
$0
Total Current Assets
$2,172
$10,042
$56,014
Assets Current Assets
Long-term Assets Long-term Assets
$5,000
$5,000
Accumulated Depreciation $996
$5,000
$1,998
$3,000
Total Long-term Assets
$4,004
$3,002
$2,000
Total Assets
$6,176
$13,044
$58,014
Liabilities and Capital
Year 1
Year 2
Year 3
s Payable
$2,938
$4,142
$6,603
Current Borrowing
$0
$0
$0
Other Current Liabilities
$0
Current Liabilities
Subtotal Current Liabilities $2,938
$0
$0
$4,142
$6,603
Long-term Liabilities
$0
$0
$0
Total Liabilities
$2,938
$4,142
$6,603
Copyright 2010, GlobeNet Wireless Broadband
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Paid-in Capital
$70,000
$70,000
Retained Earnings
($9,500)
($66,761) ($61,098)
$70,000
Earnings
($57,261) $5,663
Total Capital
$3,239
$42,510
$8,902
$51,412
Total Liabilities and Capital $6,176
$13,044
$58,014
Net Worth
$8,902
$51,412
$3,239
8.5 Business Ratios The following table illustrates the different Business Ratios, based on NAICS code 518111, Internet Service Providers.
Ratio Analysis Sales Growth
Year 1
Year 2
Year 3
Industry Profile
0.00%
262.63%
59.38%
15.97%
0.00%
0.00%
0.00%
56.35%
Percent of Total Assets Other Current Assets Total Current Assets
35.17%
76.99%
96.55%
87.48%
Long-term Assets
64.83%
23.01%
3.45%
12.52%
Total Assets
100.00%
100.00%
100.00%
100.00%
Current Liabilities
47.56%
31.76%
11.38%
30.66%
Long-term Liabilities
0.00%
0.00%
0.00%
23.07%
Total Liabilities
47.56%
31.76%
11.38%
53.73%
Net Worth
52.44%
68.24%
88.62%
46.27%
Percent of Sales Sales
100.00%
100.00%
100.00%
100.00%
Gross Margin
95.00%
95.00%
95.00%
100.00%
251.52%
90.73%
74.90%
73.80%
Selling, General Expenses
&
istrative
Advertising Expenses
0.00%
0.00%
0.00%
1.37%
Profit Before Interest and Taxes
-156.52%
6.10%
28.72%
1.03%
Current
0.74
2.42
8.48
1.97
Quick
0.74
2.42
8.48
1.50
Total Debt to Total Assets
47.56%
31.76%
11.38%
59.78%
Pre-tax Return on Net Worth
-1767.98%
90.88%
118.12%
2.93%
Pre-tax Return on Assets
-927.10%
62.02%
104.68%
7.28%
Main Ratios
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Additional Ratios
Year 1
Year 2
Year 3
Net Profit Margin
-156.52%
4.27%
20.10%
n.a
Return on Equity
-1767.98%
63.62%
82.69%
n.a
11.59
12.17
12.17
n.a
Activity Ratios s Payable Turnover Payment Days
27
26
24
n.a
Total Asset Turnover
5.92
10.17
3.64
n.a
Debt to Net Worth
0.91
0.47
0.13
n.a
Current Liab. to Liab.
1.00
1.00
1.00
n.a
Net Working Capital
($765)
$5,900
$49,412
n.a
Interest Coverage
0.00
0.00
0.00
n.a
Assets to Sales
0.17
0.10
0.27
n.a
Current Debt/Total Assets
48%
32%
11%
n.a
Acid Test
0.74
2.42
8.48
n.a
Sales/Net Worth
11.30
14.90
4.11
n.a
Dividend Payout
0.00
0.00
0.00
n.a
Debt Ratios
Liquidity Ratios
Additional Ratios
Copyright 2010, GlobeNet Wireless Broadband
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Appendix Sales Forecast Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Sales Monthly Internet 0% $0 Service
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Other
0% $0
$0
$0
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Total Sales Direct Sales
Cost
of
$0
$0
$0
$0
$0
$0
$0
$0
$0
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
istrative costs
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Other
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Direct Cost of Sales
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Personnel Plan Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 President
0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Technician
0% $0
$1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
istration
0% $0
$0
$1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
2
3
Total People
1
3
3
3
3
3
3
3
3
3
Total Payroll
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
General Assumptions Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Plan Month
1
2
3
4
5
6
7
8
9
10
11
12
Current Interest Rate
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Longterm Interest Rate
10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Other
0
0
0
0
0
Copyright 2010, GlobeNet Wireless Broadband
0
0
0
0
0
0
0
Page 24 of 28
Pro Forma Profit and Loss Month Month Month 1 2 3 Sales
Month 4
Month 5
Month 6
Month 7
Month 8
Month Month Month Month 9 10 11 12
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
of
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
of
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Cost of Sales
$0
$0
$60
$106
$127
$144
$177
$194
$216
$245
$266
$294
Gross Margin
$0
$0
$1,140 $2,006 $2,417 $2,743 $3,366 $3,683 $4,106 $4,654 $5,057 $5,583
Gross Margin %
0.00% 0.00%
Direct Cost Sales Other Costs Sales
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
95.00 %
Expenses Payroll
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
Sales and Marketing and Other Expenses
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Depreciati on
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
$83
Rent
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Utilities
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$250
$300
$570
$795
$795
$795
$795
$795
$795
$795
$795
$795
$795
Other
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
Total Operating Expenses
$4,333 $6,403 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128 $8,128
Profit Before Interest and Taxes
($4,33 ($6,40 ($6,98 3) 3) 8)
($6,12 2)
($5,71 1)
($5,38 5)
($4,76 2)
($4,44 5)
($4,02 ($3,47 ($3,07 ($2,54 2) 4) 1) 5)
EBITDA
($4,25 ($6,32 ($6,90 0) 0) 5)
($6,03 9)
($5,62 8)
($5,30 2)
($4,67 9)
($4,36 2)
($3,93 ($3,39 ($2,98 ($2,46 9) 1) 8) 2)
Interest Expense
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Taxes Incurred
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Net Profit
($4,33 ($6,40 ($6,98 3) 3) 8)
($6,12 2)
($5,71 1)
($5,38 5)
($4,76 2)
($4,44 5)
($4,02 ($3,47 ($3,07 ($2,54 2) 4) 1) 5)
Net Profit/Sale s
0.00% 0.00% 582.33 289.85 224.50 186.54 134.41 114.65 93.06 % % % % % % %
Insurance Payroll Taxes
15 %
Copyright 2010, GlobeNet Wireless Broadband
70.91 %
57.70 %
43.30 %
Page 25 of 28
Pro Forma Cash Flow Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Cash Received Cash from Operations Cash Sales
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Subtotal Cash from Operations
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Sales Tax, 0.00 VAT, $0 HST/GST % Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Current Borrowing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Other Liabilities (interestfree)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Longterm Liabilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sales of Other Current Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
New Investment Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Cash Received
$0
$0
$1,200 $2,112 $2,544 $2,887 $3,543 $3,877 $4,322 $4,899 $5,323 $5,877
Expenditur es
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
Additional Cash Received
Expenditur es from Operations Cash Spending
$2,000 $3,800 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300 $5,300
Bill Payments
$75
Subtotal Spent on Operations
$2,075 $6,059 $7,830 $8,107 $8,151 $8,173 $8,190 $8,223 $8,240 $8,262 $8,291 $8,312
$2,259 $2,530 $2,807 $2,851 $2,873 $2,890 $2,923 $2,940 $2,962 $2,991 $3,012
Additional
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Cash Spent Sales Tax, VAT, HST/GST Paid Out
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Principal Repaymen t of Current Borrowing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Other Liabilities Principal Repaymen t
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Long-term Liabilities Principal Repaymen t
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Purchase Other Current Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Purchase Long-term Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Cash Spent
$2,075 $6,059 $7,830 $8,107 $8,151 $8,173 $8,190 $8,223 $8,240 $8,262 $8,291 $8,312
Net Cash Flow
($2,07 ($6,05 ($6,63 ($5,99 ($5,60 ($5,28 ($4,64 ($4,34 ($3,91 ($3,36 ($2,96 ($2,43 5) 9) 0) 5) 7) 6) 7) 6) 8) 3) 8) 5)
Cash Balance
$53,42 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 5 6 7 2 5 9 1 6 8
Pro Forma Balance Sheet Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Assets
Startin g Balanc es
Current Assets Cash
$55,50 $53,4 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 0 25 6 7 2 5 9 1 6 8
Other Current Assets
$0
Total Current Assets
$55,50 $53,4 $47,36 $40,73 $34,74 $29,13 $23,84 $19,20 $14,85 $10,93 $7,575 $4,607 $2,172 0 25 6 7 2 5 9 1 6 8
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Longterm
Copyright 2010, GlobeNet Wireless Broadband
Page 27 of 28
Assets Longterm Assets
$5,000
$5,00 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 0
Accumul ated $0 Depreciat ion
$83
Total Longterm Assets
$5,000
$4,91 $4,834 $4,751 $4,668 $4,585 $4,502 $4,419 $4,336 $4,253 $4,170 $4,087 $4,004 7
Total Assets
$60,50 $58,3 $52,20 $45,48 $39,41 $33,72 $28,35 $23,62 $19,19 $15,19 $11,74 $8,694 $6,176 0 42 0 8 0 0 1 0 2 1 5
Liabilities and Capital
$166
$249
$332
$415
$498
$581
$664
$747
$830
$913
$996
Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Liabilities s $0 Payable
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Current Borrowin $0 g
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Other Current $0 Liabilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Subtotal Current $0 Liabilities
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Long$0 term Liabilities
$0
Total $0 Liabilities
$2,17 $2,436 $2,712 $2,756 $2,776 $2,793 $2,825 $2,841 $2,862 $2,890 $2,911 $2,938 5
Paid-in Capital
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$70,00 $70,0 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 $70,00 0 00 0 0 0 0 0 0 0 0 0 0 0
Retained ($9,50 ($9,5 Earnings 0) 00)
($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 ($9,50 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0)
($4,3 33)
($10,7 ($17,7 ($23,8 ($29,5 ($34,9 ($39,7 ($44,1 ($48,1 ($51,6 ($54,7 ($57,2 36) 24) 46) 57) 42) 04) 49) 71) 45) 16) 61)
Earnings $0 Total Capital
$60,50 $56,1 $49,76 $42,77 $36,65 $30,94 $25,55 $20,79 $16,35 $12,32 $8,855 $5,784 $3,239 0 67 4 6 4 3 8 6 1 9
Total Liabilities $60,50 $58,3 $52,20 $45,48 $39,41 $33,72 $28,35 $23,62 $19,19 $15,19 $11,74 $8,694 $6,176 and 0 42 0 8 0 0 1 0 2 1 5 Capital Net Worth
$60,50 $56,1 $49,76 $42,77 $36,65 $30,94 $25,55 $20,79 $16,35 $12,32 $8,855 $5,784 $3,239 0 67 4 6 4 3 8 6 1 9
Copyright 2010, GlobeNet Wireless Broadband
Page 28 of 28
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