Independent University, Bangladesh

Group Name: Group - 6

Course Title: Introduction to Business

Course: BUS 201, Section: 01

Semester: Autumn 2021

Submission Date: December 2, 2021

Submitted By

Name ID
Afifa Anjum Auntoma 2111161
Efteker Aziz Badhon 2130358
Munawar Anjum 2131289
Yshan Rafi 2110254
Afnur Alamgir 2130230
Contents

Executive Summary ...................................................................................................................................... 1

Company Background ................................................................................................................................ 2
Mission Statement:.................................................................................................................................... 3
Vision Statement:...................................................................................................................................... 3
Management Team ..................................................................................................................................... 4
Introduction:.............................................................................................................................................. 4
Functions of the Management Team:........................................................................................................ 4
The Business Organogram ........................................................................................................................ 5
Management Team: . ................................................................................................................................ 6
Service Description ..................................................................................................................................... 7
Special Features: ....................................................................................................................................... 8
Marketing Plan ............................................................................................................................................. 9
Product ...................................................................................................................................................... 9
Pricing........................................................................................................................................................ 9
Pricing Strategy ....................................................................................................................................... 10
Place: ....................................................................................................................................................... 10
Target Market: ........................................................................................................................................ 11
Promotions: ............................................................................................................................................. 11
Promotional Tools:.................................................................................................................................. 12
Financing The Business ............................................................................................................................ 13
Total Budget of The Business: ................................................................................................................ 13
Projected Allocation of Our Initial Investments: .................................................................................... 13
Our Sources of Funds: ............................................................................................................................. 14
Projected Income Statement: ................................................................................................................. 14
Conclusion .................................................................................................................................................. 17
References .................................................................................................................................................. 18
 1

Executive Summary

The name of our Business is ‘The Whiz House’ with the tagline, “Where children’s versatilities
get flourished”, is a service center for children’s care. The center is in Banasree, Dhaka. The
location is selected considering the availability of potential clients. It’s a Partnership Business
with all the partners sharing equal profit and unlimited liability.

Initially ‘The Whiz House’ will start its operation in Dhaka city. In the 21st century, the portrayal
of women empowerment is changing. Therefore, the number of working-class women and
mothers has increased which has resulted in the creation of many nuclear families, and as an
outcome, a market for childcare centers has been introduced. We are initiating our business with
the purpose of serving this potential customer base and earning profit.

Although there are many childcare services in the market but ours is a unique one in terms of
quality and standard. In the western developed countries, we see that there are licensed and
trained professionals for taking care of children. Their childcare service is qualified in many
ways compared to the services provided in Bangladesh. We will train our employees by
collaborating with different NGOs and third-party training facilities for reaching their standards.
In this manner we will provide a safe, sound, and healthy childcare center for the little young
minds. Our total budget of the business is Taka 36 lac. Each of us will be investing Taka 6 lac
and we will be needing investor(s) to invest another taka 6 lac to complete our budget and help
us succeed.

‘The Whiz House’ will not only provide basic childcare service but also give special attention to
each child for their mental and physical development. It will also provide surveillance facility to
each parent with the help of advanced IT. Besides, ‘The Whiz House’ will make sure that the
children grow in an amiable environment so that they can learn about basic mannerisms and
acquire good habits by focusing on overall childhood development. “The Whiz House” is a place
where young minds’ versatilities will get flourished.
 2

Company Background

The name of the business: The Whiz House – Where Children’s Versatilities Get
Flourished

Our country has been showing constant signs of progress regarding literacy rate, SDGs, poverty
rate, and most importantly, equity. Emphasizing equity, the government has created a vast sector
for jobs for all genders. Everyone is working on something based on their aptness. Be it handling
businesses or performing well in MNCs. Considering gender equity, both men and women are
making their way into making themselves more exceptional by doing numerous jobs, handling
their child/children (who have any) at the same time, or balancing between both. Now, there
comes the catch. The parents who must focus on their work in their offices sometimes fail to
look after their kids properly, especially when they get into elementary schools. Also, the parents
who handle the whole house with their partners working outside need a proper resting time. But
the drawback is that they cannot monitor the kids when they're taking care of themselves for
some hours.

The Whiz house is a service-based business organization. The service provided by the business
benefits both the working and non-working parents. With the rising number of working mothers
and women empowerment many women are facing problems in entrusting their child in a
daycare or childcare center. The Whiz House will provide the best childcare service with having
full trust of mothers. The prominent service will keep the minds of working mothers at ease. The
Whiz House will have trained professionals to take care of the children in terms of safety and
security. The trust will be fortified by surveillance of parents and us with the help of technology.
The Whiz House will primarily ensure that a child’s mental development occurs fully, and the
child stays in a healthy environment as long as he or she is in the center. Because its trained
professionals will be apt enough in handling difficulties or issues of the children with great
patience. The professionals will make sure that the center emerges nothing but positive energies
for everyone, especially those who struggle in keeping professional and personal lives balanced.

Type of ownership of the business: The business is a partnership business. We are five people
in total who will equally share profit along with unlimited liability of the business. This means
the five of us are general partners.
 3

Mission Statement:
• Provide the best childcare service by our trained professionals and meet all the
requirements of customers.
• Ensure not only physical health but also the full mental development of a child with the
utmost care provided by our trained professionals.
• Confirm that the business gains the trust of the mothers and provides their children’s
safety, security, delicate care and their full mental growth and development.
• Guarantee that the children acquire the importance of social emotional learning and
sharpen their analytical skill and persuasion skill which would be very helpful for them to
stand out among the peers in every difficult situation.

Vision Statement:
• Increasing our capacity of children from 50 to 100 by two years.
• After increasing our capacity, we want to focus on increasing the quality of the interior of
our childcare center.
• Increment of 2 more branches with a capacity of 100 children by five years to bring many
more quality services based on the requirements of our clients
• Be recognized as carrying a well-reputed-service-based business organization in several
business journals, magazines, newspapers, and other media platforms. Such prime
platforms include The Business Standard and The Financial Express.
• To be the best childcare service business in the market within ten years with 6 branches
each having a capacity of 120 children providing a prominent environment for a child.
 4

Management Team
Introduction:
The management team consist of people who utilize and manage the organization’s resources
to achieve its goals and objectives. The management team coordinates various functions of the
organization. It consists of top managers who take important decisions. The managers provide
directions to the employees and make sure that the standard or the quality of the product or
service of the organization is maintained by controlling function. They set the policies and
strategies for the organization.

Functions of the Management Team:

• Creating strategy and planning of various functions based on the visions or objectives of
the organization.
• Fund Management
• Organizing and allocating the functions and tasks of the organization.
• Decision making in critical moments.
• Coordination of the divisions.
• Controlling and supervision of the operations of the organization.
 5

The Business Organogram:

 6

Management Team:
Chief Executive Officer (CEO): Afifa Anjum Auntoma -
As the CEO of the service-based business, Afifa will form plans, visualize the success of the
company’s upcoming projects and also figure out various marketing schemes along with feasible
credentials. She will take every necessary step so that our business becomes lucrative.

Chief Financial Officer (CFO): Efteker Aziz Badhon -

Eftekher has completed his BBA in Finance and has a master’s degree in the same subject. As a
CFO, he is apt in financial planning, decision making, knows about global market values, and
has also acquired essential knowledge on business mechanism operations. Therefore, it is
believed that he holds the perfect position of being a CFO.

General Manager (GM): Afnur Alamgir -

Afnur has a degree of BBA in Management and has also gained master’s degree for the same
subject. She completes all the requirements that a company/brand needs someone as a manager
for betterment.

Head of Marketing: Munawar Anjum -

As a marketing head, Munawar is capable to pitch unique marketing strategies to elevate a
specific business or a brand. He will make several different types of promotions and execute
campaigns to gain enough popularity. His job would also be to fulfill both the service and
consumers’ needs.

Head of Human Resource: Yshan Rafi -

Since Rafi has finished his undergraduate studies in human resource management (HRM), his
responsibility is to recruit eligible employees for the company and decide the salary of them and
also maintain a strong yet amiable connection with all the departments so that our business
prospers.
 7

Service Description

The Whiz House will be operating based on trained employees along with several assistants who
will be aiding the children with proper mental health care and make sure of their good physical
health.

According to various NGOs like BRAC, ICHD and JAAGO they will design and construct a
training structure for our employees following the standards of the childcare centers in the
developed countries like US. Besides, there are other organizations who work with constructing
training courses of urgent situations and businesses like ours. One of them is Insight Initiative.
After contacting with them they have confirmed that they possess the capability of training
employees for providing standard childcare services in exchange of certain amount of charge.

There will also be extracurricular activities like playing games like scrabble to level up their
vocabulary knowledge, chess, and puzzles, to gain a superficial idea about analytical skills. The
children will also recognize the importance of volunteering works; for example, they will be
taught about empathy, a clean environment, and other eco-friendly and benevolent acts, and how
to use those to help their daycare mates or friends and take care of the Earth.

A monthly session will be occurring on parenting, where both the parents/single parents will join
to see the growth that each child has acquired in the specific time. In that way, the parents will be
assured about the safety of their children and the authenticity of the center.
 8

Special Features:
• There will be six trained employees along with six assistants to children aged 3-12 years.
• Each trained employee will be expert and skilled in delicate handling and monitoring of
children so that their childhood mental development never comes to a halt.
• Our center will hold the capacity of 50 children initially.
• The center will make sure that nutritious food is provided to the children while their stay.
• We will hold fun interactive learning games for children.
• We will have IP cameras installed all around the center so that parents can log in and
monitor their children’s activities through our website.
• In the provided profile a summary of the child’s activities and functions during his or her
stay will be uploaded to provide the parents an idea of the children’s health and activity.
• A monthly session will be held for the parents/single parents to get feedback and consult
about our methodologies and improvement scopes.
 9

Marketing Plan

The bottom line of any business is to make money and marketing is an essential channel to reach
that end goal. Without marketing many businesses wouldn't exist because marketing is ultimately
what drives sales. We will follow the main strategies of a business plan and the most important
4p s to get positive access and response in the current market.

Product:
This is a service-based business. We will provide childcare service with some special features in
exception to our competitors. We will provide a safe, sound and healthy environment for the
children. Our professionals will be trained in basic childcare and mental development of a child.
They will be trained in handling emergency healthcare. Our professionals will be skilled
providing a mentally sound environment for a child’s mental growth. We create surveillance
opportunity for the parents by installing IP cameras in our center. Also, a daily update of a
child’s daily activity will be uploaded to the website in the parent’s profile. Parents can get
continuous update of the children.

Pricing:
As a childcare service our goal is to keep our clients satisfied with a reasonable price that they
can afford. We also want to maximize our profit for the dedicated service. Our regular hourly
rate is 142.85 tk. We have three packages. We tried to keep a customer-based pricing to make the
service price reasonable for our clients. We have designed 3 packages for them. The three
packages and their services are mentioned below:
 10

Pricing Strategy:
1. The Monthly Package:
a. We will keep the child from 10 am to 5 pm in this package and we will charge
142.85 Taka per hour in this package.
b. If a child stays outside this 10 am to 5 pm period, we will charge 160 taka per
hour.
c. Monthly payment will be BDT 22,000 taka
d. Membership fee is BDT 2,000
2. Weekly Package: This is a weekly subscription for our clients.
a. Payment for 1 week of service is BDT 8,000
b. There is no membership fee for this package.
c. The time duration would be 10 am to 5 pm.
3. Emergency Day to Night Package:
a. This package is for the parents who must keep their child for a day because of any
urgency.
b. Price of this Emergency Day to Night Package will be BDT 1500 for one day
c. They can keep their children from 10 am to 7 pm.

Place:
We will rent a 3200 square feet commercial space in Banasree, Dhaka. This place is near
Gulshan and Baridhara which has many schools and offices. Parents will their child to us and go
to their office easily because it is close to most commercial locations. Banasree has less rent rate
compared to other areas in Dhaka and less rent is essential as it is a startup business. It is our
head office too. We will keep 6 rooms for children and 2 rooms for staff.
 11

Target Market:
Target market means our potential clients. Our potential clients would be working mothers or
working parents who have children. Our main target is full-time employee parents who don't
have time to take care of their children's. Through our childcare center’s service mothers would
get free time to focus on themselves and their development. Our current economy has changed a
lot with time. Currently women are working in equal positions as men are. Women are more
inclined towards career development in the 21st century. Parents can choose their preferable time
to give their children in our center. There is a colossal number of parents who are employed in
Dhaka city. There are only a few daycare centers in Dhaka City to provide a healthy environment
for overall childhood development and mental development by trained professionals for each
child. So, we will take the advantage and attract our clients by our services. We will give our
best and it will be a good option to accelerate our targeted profit by focusing on well-being of
children and parents’ needs.

Promotions:
As we are new in the childcare market, we would need a huge promotional work to be done 2
months before we launch our center, and we plan to start the promotions by executing social
media events and campaigns. We aim to approach different television channels, newspapers, and
boost more Facebook advertisements in the future. We will increase the knowability of our
center by using brochures, placing posters and banners in several areas, and holding drawing
competition events among children.
 12

Promotional Tools:
We are new in this market. Therefore, promotion is important for our business. By proper
promotions, we can reach our targeted clients. To gather the attention of our customers certain
promotional tools can be useful in our business. The promotional strategies are mentioned below:

• 2 months before we start operating, we will start our own promotion by executing social
events in schools around Badda, Banasree, Gulshan, Banani and Baridhara.
• We will go for television, newspaper, social media advertisements and create Facebook
business page and promote.
• We will organize campaigns with posters and brochures.
• We will sponsor children-oriented competitions like drawing and writing competitions
and others that fit appropriately for the children.
• We will create a website for our service.
• We will contact reviewers to review the services provided by our business.
• We will give discounts to nearby office workers and school teachers to attract more
clients.
 13

Financing The Business

Total Budget of The Business:
It is the spending plan based on the expenses. The budget plan will help us to understand and
identify our available capital and estimate our possible expenditures. This will also help us also
predict our revenue. The budget will be a guideline for setting up our financial goal and it will
help us in tackling both short term and long-term planning obstacles.

Projected Allocation of Our Initial Investments:

Particulars Amount(BDT)

Occupancy 120000
Furniture 100000
Interior Design 200000
Toys and Equipment for Children 5000
Art supplies and for Children 10000
Office Equipment 100000
Office Supplies 10000
First Aid Kits 10000
Emergency Medicines 5000
Emergency Equipment 50000
Telephone 4000
Televisions 180000
IP Cameras 30000
Server Equipment 120000
Recruitment 40000
Training 100000
Conveyance 10000
Marketing and Promotional Costs 80000
Legal Cost and Trade License 80000
Total 1254000
 14

The above Projected Initial Budget Allocation shows the requirements to start the business. After
conducting many researches and collecting information from other institutions like our service
centers, we concluded the above-mentioned budget allocation.

Our Sources of Funds:

Name of Source of Fund Type Amount (BDT)
Afifa Initial Investment 6,00,000
Efteker Initial Investment 6,00,000
Munawar Initial Investment 6,00,000
Rafi Initial Investment 6,00,000
Afnur Initial Investment 6,00,000
Total 30,00,000

Projected Income Statement:

Projected Income Statement is required to understand that how much it would cost
approximately to run the operations of a business and the amount of approximate revenue to be
generated. To project the probable amount of revenue which can be generated we have
considered an hourly charge of Taka 142.85 per client for 7 hours and 25 days each month.
 15

The Whiz House

Projected Income Statement
For the Year Ended on 31st December, 2023

Particulars Amount Amount

(BDT) (BDT)
Revenue 1,19,99,400
Less: Operating Expenses
Salary
Management Team 12,00,000
Trained Professional 8,64,000
Assistants 5,04,000
Receptionist 120,000
Cleaner 96,000
IT professional 240,000
Cook 48,000
31,68,000

Utilities 150,000
Internet 36,000
Depreciation 10% 64,400
Rent (38,000*12) 4,56,000
Insurance Premium 12,000
Advertisement 100,000
Office Supplies 10,000
Recruitment and Training 1,00,000
Food and Grocery 250,000
(43,46,400)

Profit Before Tax 76,53,000

Less: Tax (Personal Income Tax rate 25%) (19,13,250)

Net profit 57,39,750

 16

The Whiz House

Projected Income Statement
For the Year Ended on 31st December, 2024

Particulars Amount Amount

(BDT) (BDT)
Revenue 2,00,00,000
Less: Operating Expenses
Salary
Management Team 20,00,000
Trained Professional 15,84,000
Assistants 8,40,000
Receptionist 120,000
Cleaner 1,44,000
IT professional 2,40,000
Cook 60,000
49,88,000

Utilities 2,00,000
Internet 48,000
Depreciation 90,000
Rent (45,000*12) 5,40,000
Insurance Premium 12,000
Advertisement 2,00,000
Office Supplies 12,000
Recruitment and Training 1,00,000
Food and Grocery 3,50,000
(65,40,000)

Net Profit Before Tax 1,34,60,000

Less: Tax (Personal Income Tax Rate 25%) (33,65,000)
Net Profit After Tax 1,00,95,000
 17

Conclusion

Parents, who hustle all their lives for their kids, need to rest up as well in order to function
properly. But often they forget to look after themselves and as an outcome, some of them fall ill
and face grave health issues, or sometimes fail to be enough vigilant of their kids.
With that being said, and keeping both of their wellbeing in mind, The Whiz House will not only
take care of a child’s overall physical and mental health, but it will also assure that a parent is
getting his/her own time to either simmer down or to focus more on their work, without getting
stressed of their child’s activities. We have come up with this plan to serve humanity and to
make the country a better and a calm place to live in for all the selfless mothers and fathers.
 18

References

Childcare.gov. (n.d.). Choosing Quality Child Care For Your Children. Retrieved from Childcare.gov:
https://childcare.gov/consumer-education/choosing-quality-childcare

ICHD. (n.d.). Training and Courses. Retrieved from ICHD: https://www.ichdbd.org/post/training-and-

courses

Insight Initiatives Limited. (n.d.). Insight Initiatives Limited. Retrieved from Facebook:
https://www.facebook.com/insight1initiatives/

Md. Shhariar Bulbul Tonmoy, K. R. (2021). Where will Our Children go? A Study on the Impact of
Children’s Day Care Services on Working Parents. Bangladesh Journal of Public Administration,
68-87.

Shahidul Islam, N. A. (2015). Child Day Care Center in Bangladesh: Problems and Prospects. International
Journal of Scientific Engineering and Research, 68.