Hikery Business Plan

Adit F. Lazuardi (19219005)

Azhan Rabbani (19219048)

Azura Hasna Aqila (19219050)

M. Raihan Amri Daulay (19219030)

 Table of Contents
Table of Contents 2
Executive Summary 3
Market 4
Industry 4
Customer 4
TAM 4
Competitors 4
Company and Product Description 6
About The Company 6
About The Product 7
Marketing Plan 10
Operation Plan 11
Development Plan 13
Team 14
Business Risk 15
Internal Risk 15
External Risk 15
Offering 16
Financial Plan 17
Cost 17
Revenue Stream 17
Break Even Point 18
Return on Investment 18
Cash Flow 18
Appendix 19

2
 Executive Summary

The hiking industry in Indonesia is a big growing market since years ago. The
Ministry of Energy and Mineral Resources said that there are 127 active mountains available
in Indonesia and 100 of them are categorized as a tourist destination by Asosiasi Pemandu
Gunung Indonesia. Meanwhile, Indonesia has the largest number of casualties in its hiking
industry. This condition makes Hikery comes to increase comfort and safety in the hiking
industry.
Hikery is a platform that helps and connects hikers. We aim to increase comfort and
safety in the hiking industry. Hikery has 3 main features, which are digital SIMAKSI,
equipment rental marketplace, and open trip marketplace. Our MVBP, the hiking equipment
rental marketplace, is an online marketplace where people can rent their hiking equipment to
others. Today, the number of hikers is increasing and most of them are beginners, which
means they do not have complete hiking equipment.
The problem is the data on hiking equipment rental is very limited. There is no such
data on the availability, quantity, and price of the equipment. There is only information about
where the rental is on google maps. By using Hikery, hikers can easily find which rental has
the best value for them, either the price, number of equipment, the availability, or the distance
from their place. Hikers can also ask to deliver the equipment they rent to their place, so they
should not have to come and pick up the equipment by themselves.
We aim at both the beginner and professional hikers who live in Bandung as our
beachhead market since Hikery is a two-sided market. Our end-user profile is beginner hikers
that do not have complete equipment, do not have a hiking buddy, and plan to hike four times
a year. By doing some primary market research on hikers, conservation area managers, hiking
equipment rental owners, and open trip agencies, we found that Hikery has a total of
Rp13,650,000,000 addressable market.
Hikery will monetize hiking equipment rentals and hikers in various proportions. In
the early stages when entering the market, we put an administration price of Rp5,000 per
transaction to the hiker as website maintenance fee and then we provide free service to
equipment rental for about 6 months. This has the purpose of making Hikery more easily
recognized and entering the existing market.
From those six months, we will collect sales data from equipment rental before and
after they use the platform we provide. We will use this data to re-discuss with the equipment
rental companies that we have listed and make an agreement to share the profit per
transaction as much as 10%. As time goes by, we will review how much the market and sales
have developed which can later be used to increase the profits we can get. Besides all of that,
Hikery will also run ads to increase our revenue stream.
Currently, we have 5 members in hikery, all of the members are in the business
undergraduate program and have the same interest in this field. We divided the job based on
expertise in each person.

3
 Market

Industry
The hiking industry in Indonesia has been a big growing market for years. The
Ministry of Energy and Mineral Resources said that there are 127 active mountains available
in Indonesia and 100 of them are categorized as a tourist destination by Asosiasi Pemandu
Gunung Indonesia. Data from the Ministry of Tourism states that adventure tourism
contributes 25% of the total number of natural tourism tourists. Data for 2016 alone from
Mount Rinjani recorded that 91,412 people were climbing Mount Rinjani, where around 30%
were foreign tourists. Meanwhile, in 2018, there were recorded as many as 853,016 climbing
Mount Semeru in East Java with more than 20,000 foreign climbers in the same year. Just
from climbing Mount Semeru, the income earned for 2018 reached more than Rp23.7 billion.

Customer
The Ministry of Energy and Mineral Resources said that Indonesia has the largest
number of active volcanoes in the world and is in the first place with the highest number of
casualties. This condition makes Hikery comes to increase comfort and safety in the hiking
industry. We aim at both the beginner and professional hikers lived in Bandung as our
beachhead market since Hikery is a two-sided market. Our end-user profile is beginner hikers
that do not have complete equipment, do not have a hiking buddy, and planning to hike four
times a year. We found out that there are hikers with the criteria and we tried to contact one
of them. His name is Abdul Halim Luthfi, a 20 years-old UNPAD student who lived in
Jatinangor. Since he has very matching criteria as the end-user profile, we decide to make
him our persona. Later, Luthfi told us that he usually faces three main issues while hiking
(will be explained in the next section).

TAM
We calculated the total addressable market for Hikery with the bottom-up analysis.
By doing some primary market research on hikers, conservation area manager, hiking
equipment rental owners, and open trip agencies, we found that Hikery has a total of
Rp13,650,000,000 addressable market with Rp3,375,000,000 from hiking equipment rentals,
Rp4,800,000,000 from open trip agencies, and Rp5,475,000,000 from conservation area
managers.

Competitors
While doing this business, there are some key stakeholders that become both our
partner and competitor. For example, hiking equipment rental is our biggest partner besides
individual hikers, but on the other hand, the offline system where hikers can rent their
equipment by going to their place can be harmful to our business. Since then, Hikery offers a
significant value proposition that other competitors do not have. By using Hikery, hikers can
easily find the best rental that fits their needs. Users can sort by the location, availability, and
the price of the equipment. Users can also chat with the owner of the rental to know more
about the equipment.

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 The other value for the rental is, they do not have to worry about any froud by the
renter. If the equipment is lost or damaged, Hikery will automatically charge the renter with
an extra fee. If one way the renter cannot fulfil the extra fee, Hikery will help the rental with
every legal move. Here are some graphics to describe the competitor mapping of our two-
sided customers.
Complete
Information

HIKE
RY
Diffic Ease of
ult use
Offline
Rental
Agency

Lack of
Information

5
 Company and Product Description

About The Company

Hikery is a platform that helps and connects hikers. We aim to increase comfort and
safety in the hiking industry. Hikery has 3 main features, which are digital SIMAKSI,
equipment rental marketplace, and open trip marketplace.
Before doing a hike, hikers should fill a form called Surat Izin Memasuki Kawasan
Konservasi (SIMAKSI). The SIMAKSI form is different from each mountain but has the
same format. Today, hikers should fill the same form again whenever they want to hike.
Digital SIMAKSI is an online SIMAKSI form. The users only have to fill in their identity
once and the system will generate a particular SIMAKSI needed. Hikers can also pay the
SIMAKSI online so they do not need to queue at the mountain basecamp. Hikers with digital
SIMAKSI by Hikery just need to scan their barcode generated from the website at the
mountain basecamp. At this point, Hikery will advance the administrative sector of the hiking
industry.
The hiking equipment rental marketplace is an online marketplace where people can
rent their hiking equipment to others. Today, the number of hikers is increasing and most of
them are beginners, which means they do not have complete hiking equipment. The problem
is the data on hiking equipment rental is very limited. There is no such data on the
availability, quantity, and price of the equipment. There is only information about where the
rental is on google maps. By using Hikery, hikers can easily find which rental has the best
value for them, either the price, number of equipment, the availability, or the distance from
their place. Hikers can also ask to deliver the equipment they rent to their place, so they
should not have to come and pick up the equipment by themselves.
Since there are many beginner hikers, many professional hikers sell their service as a
professional guide. Since the people who want to join their hike are random and do not know
each other, people call the service an open trip. Today, professionals offer their service on
some social media and communities, this condition makes their service not reach a wider
audience, even though, many beginners need their service. The open trip marketplace is an
online marketplace where agencies can sell their open trip service. Beginners can search for
an open trip based on their location, destination, and price.
After having the key assumption test, we decided to make an online marketplace for
hiking equipment rental for our minimum viable business product with a website as the
platform. Our consideration is that the online marketplace for hiking equipment rental is the
easiest market to penetrate and the easiest software to develop (based on our primary market
research and expert mentor opinion).

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About The Product
Hikery will focus its early development on its MVBP which is a hiking equipment
rental marketplace. Since there are no such platforms that offer the same value for hikers like
us, it is safe to say that Hikery is one of the pioneers of the hiking industry. When loading
www.hikery.com, users will be directed to our simple landing page with a search bar. Users
can search the particular rental they need by entering the rental name, or search by the
location of the rental, or by checking the equipment they need.

Hikery will show the results of users searching and they can choose the best rental they need.

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After choosing the rental, users can pick what equipment they need.

Users then can recheck the equipment they rent and choose the payment method they want.

After that users can pay and the money will be transferred to Hikery account before we
transfer it safely to the rental account.

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With Hikery, users can chat the rental before they decide to rent their equipment. Users can
also ask the rental to send the equipment to their location after they verify their identity with
nationality ID or passport. You can access the MVBP by clicking the following link:
https://framer.com/share/Hikery-Mockup--llLOn0UEFVM9kXwZ9f3r/wyamVfIyV?
fullscreen=1&highlights=0

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 Marketing Plan

To get and gain the customer, we make a list of several marketing strategies. We
divided the marketing strategies into two kinds of strategies. Our target market and the
potential market is those who have mobile phones or often use PCs, are active on social
media, and have an interest in trying something new for traveling. There are short-term and
long-term strategies. Since this situation is pandemic, we attempt to maximize digital
marketing. Here are our marketing strategies.
● Cloud marketing, this method helps us to share our product with the relevant
customer. Because cloud marketing is all digital marketing efforts, which are
personalized and integrated to enhance the buyer's experience.
● Online marketing, this method is conducted to get brand awareness from the
customers through social media such as Facebook, Instagram, Twitter, etc. also
websites.
● Call to action marketing strategy, this method is using imperative words such as
“click here for further details”, so we can directly get the response from the potential
customers who watch our advertisement on their mobile phones or PC.
● Offering a different user experience, Hikery breaks the mold of a typical traveling
platform and instead offers customers a new user experience by providing the
Digitalize SIMAKSI process.
● Email marketing, We use email as our media promotion. The purpose is to offer
products to gain new customers and inform the newest product or feature. Also, make
a good relationship with our loyal customers. We consider this method quite effective
because it is more personal and the email promotion is directly sent to potential
customers inbox. We expect they will do a repurchase.
● We collaborate with influencers, these days the influencer has a big impact to
influence their followers or subscribers. We have a few options to influence and cone
influencers who are passionate about hiking.
● We offer discounts for the customers who share our platform with their friends. From
that, we expect their friend will use our service so we got a new user.
● We offer a discount for the customers who use our platform for multiple purchases
(each 6 purchasing). We expect that customers will be triggered to use our platform
more often.
● In content marketing, we create content that is relevant, interesting to represent our
product for the audience. Content can be photos, videos, articles, and many interesting
forms. We expected the potential customers to be aware of our product.

10
 Operation Plan

Hikery’s main product is a feature that consists of open trips and outdoor equipment
rentals. To produce these features, we must collaborate with an expert in website
development to create the system from the user entering our website until they use the
services. We are looking for an expert who can develop a website, experts in designing
UI/UX, and maintaining the website to fix bugs and update the latest version according to its
performance.
According to hikery’s technical specifications above, we need several resources to
develop this business. Hikery also needs human resources who are passionate and has
experience in hiking. Staff resources needed :
1. (Hipster) User Interface Design website (FSRD undergraduate)
To create an exciting design on our website.
2. (Hacker) STEI Undergraduate
To research and develop our website, maintain the website, and fix bugs to improve
website performance quality.
3. (Hustler) Management or Marketing Undergraduate
To create or add value to our services (product), manage the operation, finance, HR in
a company, make great sales, make and conduct marketing strategies.

For the operation strategy, Hikery will use differentiation. Hikery improves the hiking
experience by providing an all-in-one platform that allows hikers to team up with
professional hikers in a comfortable yet trusted way and find the best gear they need to rent
without worrying about its condition and availability.
Our supply chain consists of open trip agencies, outdoor gear rentals, hikers, website
developers, and the Hikery system. First, open trip agencies and outdoor gear rentals need to
register and upload their service to the system. Then, the system will compile and process the
data into a user-friendly database. When the data are served, users can now search, compare,
and purchase the service they needed. Once the purchase is already recorded, the money will
be transferred to the system first, then passed to the providers (agencies and rentals). Hikers
also can upload their journal online that makes hikers not only the customer but also a
supplier. Last, for early developments, we outsource the website development to other
technology companies.

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 We use a differentiated strategy in our supply chain management. Earlier, open trip
agencies and outdoor gear rentals served their customers first until we found many pain
points for both supplier and customer. The suppliers tend to be overstock in preparing their
services. While the customers tend not to find the assistance they need since there are many
of them, it is hard to see which one is the best service.

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 Development Plan

Currently, Hikery already has a rental marketplace website as our MVBP. Since our
prototype is still a mockup, we need website developers as soon as possible to make the real
website. In the first year, we are planning to list down big outdoor equipment rentals in
Bandung to partner with them. After we partner with them, in the year after, we will compare
their sales before partner with Hikery and after partner their Hikery. If their performance is
good, we will charge them a 5% fee for every transaction that they have if they still want to
be in Hikery’s list.
After the first 3 years, we expect to have high monthly active users and exponential
growth, so that we can develop our other feature, namely Digital SIMAKSI. To develop our
Digital SIMAKSI, we have to partner with related stakeholders, which are mountain
managers. They have high power regarding this feature, so we have to make them believe us.
To make them believe, we will give our active users data to mountain managers for the
evidence that we are a promising startup and partnering with us will benefit them. After
finishing with the Digital SIMAKSI, we can focus on developing our application in general
and overall features to gain more and more users.

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 Team

Currently, we have 4 members in hikery, all of the members are in the business
undergraduate program and have the same interest in this field. We divided the job based on
expertise in each person.
● Azhan Rabbani as CEO in this company. He has a good leadership and well known to
drive the human ressources
● Adit Lazuardi as CMO in this company, He has a good Strategy in Marketing
● Muhammad Raihan Amri Daulay as COO in this company, he is the best to manage
operations in this team
● Azura Hasna as CFO in this company, she has an integrity and precise calculating on
finance
Since our current members are from the same background (hustler), our team lacks
other expertise in running this business. We plan to outsource hackers to build the platform
and hipster to design our platform.

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 Business Risk

Internal Risk
First, the company's milestones don't go according to plan. At the initial stage, the
company will create an action plan in each department. However, there is always a risk that
the implementation process does not go according to the plan that has been made due to
several reasons such as the plan that is not feasible or conditions that are beyond expectations
and cannot be controlled. This problem can be prevented by creating multiple backup plans
with different conditions when creating an action plan so that we can control several
different conditions.
Second, human resources work below standards. This risk can occur due to improper
maintenance and management of employees or because the selection process is still
ineffective. This can be mitigated by reviewing the current selection process and improving
the human resources development system within the company.
Third, employees commit fraud and are not responsible. This risk is always present in
every company. The causes can be many things, such as a poor communication system within
the company so that actors feel they have an opportunity, a lack of a website of the
importance of work discipline within the company, or mistakenly accepting employees due to
ineffective selection processes.

External Risk
External risk includes many parties and sectors. This can be from the influence of
customers, market trends, vendors, cooperative relationships, and others. Because it includes
external parties to the company, it is therefore difficult for the company to control these
conditions.
One of the biggest risks that might occur is that the hikery website is hacked by
irresponsible people or even competitors. Because it is website-based and can be accessed
freely on the internet, that is why there will always be loopholes for hackers and irresponsible
people to hack into the system because there is no safe place on the internet. This can actually
be prevented by increasing the security of the website and always updating the system so that
it can minimize gaps and the possibility of being hacked.
Environmental and social conditions are also a very impactful external influence in
this business. As we know, the coronavirus is still a pandemic today and causes many
problems in various sectors. One of the biggest impacts is the closure of tourism areas due to
government lockdown regulations in order to implement social distancing. This has caused
many losses in various sectors such as tourism. The pandemic has also caused many people to
be afraid to be in crowds or even just leave their homes, resulting in decreased interest in
hiking. In addition, the government also issued a regulation to limit the number of climbers
per day in order to avoid crowds. This condition can be overcome by creating an online
system in the pre-hiking process so as to minimize crowds when hiking.

15
 Offering
Our team has done some market tests to test our MVBP. We approached five biggest
hiking equipment rental companies in Bandung to know their pain points. Then we build our
MVBP to solve those particular problems, which are high risk on renting their equipment
because if the equipment is lost or damaged they will face a big loss. On the other hand, we
also spoke to hikers who are in our “other-side” market since we have a two-sided market.
They said that they do not have complete hiking equipment since it is very expensive. They
rely on rental that provides more affordable hiking equipment. But there are some issues that
they found such as it is hard to find hiking equipment rental online, lack of information, and
inefficient.
By knowing those pain points, Hikery start to make a solution of their problems. Then
came the idea of an online hiking equipment rental marketplace which provides complete
information, high efficiency, and transfer risk for the rental parties. After designing the
prototype, we came back to them and asked for their opinions. They said that Hikery already
did an amazing job but there are some points that can be improved in the user interface and
experience. Also the rental parties want to know how it works before they really trust Hikery
as their main online marketplace. Afterall, they agreed that if we continue our step and make
it happen, they really want to upload their rental to Hikery.

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 Financial Plan
Cost
Since we used an outsourcing method in making our MVBP, it cost us Rp1,600,000 to
use a marketplace creation service to meet our minimum viable business product. We will
continue to develop this MVBP in line with our business to meet customer satisfaction and
prioritize paying customers. In its development, we require a fee of Rp800,000 per month
with details of costs for article content updates, website display layout updates, banner & icon
design updates, weekly backups, website security updates, plugin & themes updates, website
speed updates, and checking broken links.

Revenue Stream
Hikery will monetize hiking equipment rentals and hikers in various proportions. In
the early stages when entering the market, we put an administration price of Rp5,000 per
transaction to the hiker as website maintenance fee and then we provide free service to
equipment rental for about 6 months. This has the purpose of making Hikery more easily
recognized and entering the existing market. From those 6 months, we will collect sales data
from equipment rental before and after they use the platform we provide. We will use this
data to re-discuss with the equipment rental companies that we have listed and make an
agreement to share the profit per transaction as much as 10%. As time goes by, we will
review how much the market and sales have developed which can later be used to increase
the profits we can get. Besides all of that, Hikery will also run ads to increase our revenue
stream.

Financial Model
Financial Forecast

Assuming the average website usage is 115 times per month with Rp5,000 fee per
transaction from hikers in the first 6 months, and adding Rp25,000 fee per transaction from
equipment rental after 6 months, then Hikery will get Rp34,650,000 in the first year. With
this calculation, Hikery can meet its break even point in the first 7 months.

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Break Even Point

¿ Cost Rp 2,400,000
Price BEP = COGS per pcs = 0 = Rp2,400,000
1−( ) 1−( )
Selling price Rp 5,000+ Rp25,000

¿Cost Rp 2.400 .000

Unit BEP = = ¿= 80 Transactions
( Selling price−COGS per pcs ) ( Rp 5,000+ Rp25,000)−0¿

Return on Investment
By generating Rp36 Million in the first year, with Rp2,4 Million initial investment,
Hikery will make a 15% return on investment. Not to mention that the number will be bigger
in the future since we are SaaS and do not have any COGS.

Cash Flow

The graph shows that Hikery will have a negative balance in its first six months, then
will significantly increase its revenue since then.

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 Appendix

Market Segmentation
Market Segment Hobbyist Environmental Search and
Name Organization Rescue

End-User Day-hikers Environmental SAR team

activist

website - Connect day- - Track hikers - Locate missing

hikers one - Connect to day- hikers
another hikers - Connect to local
- Join an open trip guides
- Rent outdoor
equipment

Benefits - Ease of use Improved safety - Time-saving

- Latest update standard - Latest update

Lead Customers - Celebrities - Ramon Tungka - BASARNAS

- Youtubers - Bongkeng - POLRI
- Public figures - MAPALA - TNI AD

Market - Mainstream - Organic - Late main.

Characteristics - Buying habits - Early adopt. - Gov't funded
- Early adopt. - Oligopoly

Partners/Players - Day-hikers - Day-hikers - Local guides

- Open trip - Organization -Basecamp
agencies admins administrator
- Outdoor
equipment rents

Size of Market 4,500,000 600 organizations X0,000

Competition - Google apps - Garmin - Helicopter

- Hiker groups - Satmap - SONAR
- Travel blogs - Hiker groups

Complementary - Mountain area Local guide Rangers

Assets Required administrator
- Basecamp
administrator

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 Market Segment Academic Religion Venture
Name

End-User - Scientists Pilgrims Surveyor

- Students

website Connect to local Get mountain area Connect to

professional latest information professional hikers
guides

Benefits Qualified and Ease of use - Cost-saving

trusted - Qualified and
information trusted
information

Lead Customers CIFOR - Religious leaders - BioCarbon

- Public figures Engineering
- Brinkman and
Associates
- EcoPlanet
Bamboo

Market - Early adopt. - Mainstream - Pressure to

Characteristics - High growth - Late adopt. reduce cost
- Early adopt.

Partners/Players Local guides Basecamp - Basecamp

administrator administrator
- Professional
hikers

Size of Market X00,000 X0,000 X0,000

Competition - Locals Locals LinkedIn

- LinkedIn

Complementary - Basic area data Local guide - Basic area data

Assets Required - Statistics - Statistics

Beachhead Market
Criteria Hobbyist Environmen Search and Academic Religion Venture
tal Rescue

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 Organizatio
n

1. Economically Very High Medium Very High High Low High

Attractive

2. Accessible to Very High Medium High Medium Low High

Our Sales Force

3. Strong Value Very High HIgh High High Medium Medium

Proposition

4. Complete Low Medium High Medium Medium Medium

Product

5. Competition High (2) Medium Medium Low HIgh Low

6. Strategic Very High High Medium Medium Medium Medium

Value

7. Personal Very High Medium High Medium Low Medium

Alignment

Overall Rating 29 23 27 24 17 24

Ranking 1 4 2 3 5 3
*Very high = 5, High = 4, Medium = 3, Low = 2, Show Stopper = 1

Total Addressable Market

Bottom-Up
Gear Rental Service
Avg. revenue per rent Rp7,500
150 transaction per month Rp1,125,000
One year transaction Rp13,500,000
25 Rental per region Rp337,500,000
10 region Rp3,375,000,000

Open Trip Service

Avg. revenue per trip Rp25,000
80 transaction per month Rp2,000,000
One year transaction Rp24,000,000
20 open trip per region Rp480,000,000
10 region Rp4,800,000,000

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Digital SIMAKSI Service
Avg. revenue per SIMAKSI Rp5,000
300 transaction per day Rp1,500,000
One year transaction Rp547,500,000
10 mountains Rp5,475,000,000

Total Bottom-Up TAM for the beachhead market: Rp13,650,000,000

End User Profile

End-User Profile for Hobbyist
Demographics Gender: Male (90%), Female (10%)
Age: 17-28
Income: Rp36M-Rp60M
Region: Indonesia
Psychographics Pain points
- Do not have the equipment.
- Hard to find equipment rental
- Run out of stock
- Do not have a hiking partner
- Hard to compare between open trips
- Hard to get permission

Preference
- Loves hiking, especially group hiking
- Hikes four times a year
- He prefers to hike in good weather so that he can see
the sunset and sunrise.

Aspirations and key influencers

- Friends
- Public figures
- Celebrities
- Youtubers
Proxy Products Factors in his purchase decision
- Safety (72.4%)
- Fun (69%)
- Price (55.2%)
Watering Holes Reading and social media habits
- Friends (86.2%)

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 - Hiker blogs (72.4%)
- YouTube (72.4%)
- Instagram (72.4%)
Day in the Life Daily routines
- Have two days off a week
- Does not mind to exercise
- Keep updated
Priorities - Open trip marketplace (20)
- Outdoor equipment rent marketplace (30)
- Journal sharing (20)
- Direct message (15)
- Live tracking (15)

The Cost of Customer Acquisition

Period
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
New customers
forecasted 200 500 1,200 4,000 8,000 15K
Campaign Rp4M Rp8,5M Rp250K Rp250K Rp250K Rp250K
Advertisements Rp0 Rp0 Rp15M Rp40M Rp0 Rp0
Partnership Rp0 Rp0 Rp0 Rp0 Rp50,000K Rp120M
Total marketing
expense for period Rp4M Rp8,5M Rp15250K Rp40,250K Rp50,25M Rp70M
Rp20K Rp17K Rp12,708 Rp10,063 Rp6,281 Rp4,667
COCA
Rp70,719

The Customer Lifetime Value

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Open Trip Service
Rp2,800 Rp2,800 Rp3,000, Rp3,000, Rp3,200 Rp3,200,
Avg. open trip price ,000 ,000 000 000 ,000 000
Next product
purchase rate 100% 100% 75% 50% 50% 25%
Gross margin for
open trip 5% 5% 5% 5% 5% 5%
Profit from open Rp140,0 Rp140,0 Rp112,5 Rp75,00 Rp80,00 Rp40,00
trip 00 00 00 0 0 0

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Gear Rental Service
Avg. rental service Rp600,0 Rp600,0 Rp700,0 Rp700,0 Rp800,0 Rp800,0
price 00 00 00 00 00 00
Next product
purchase rate 100% 100% 75% 75% 50% 25%
Gross margin for
gear rental 5% 5% 5% 5% 5% 5%
Profit from gear Rp30,00 Rp30,00 Rp26,25 Rp26,25 Rp20,00 Rp10,00
rental 0 0 0 0 0 0
Sum of profit for Rp170,0 Rp170,0 Rp138,7 Rp101,2 Rp100,0 Rp50,00
the time period 00 00 50 50 00 0
Cost of capital rate 40% 40% 40% 40% 40% 40%
Retention Rate 90% 81% 73% 67% 59% 53%
Present value above Rp61,20 Rp55,08 Rp40,46 Rp27,13 Rp23,60 Rp10,60
cost of capital 0 0 0 5 0 0
Net present value of
profits (LTV) Rp218,075

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