A Revulsion in Bangladesh

Service Sector

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“Handyhelp” a new era of service with the help
to technology

BUS101 (Section 10)

Prepared for
Ms. Faizaa Zainab Khundker
Lecturer

Department of Business Administration

East West University

Prepared by
Group 3
Name ID
Tamjid Jahan Sijda 2023-1-77-056
Sindid Hossain 2023-2-10-256
Fahim Faisal 2023-2-10-264
Md Ridwan Ahnaf Ali 2023-2-10-253
Naveed Ahmed 2023-2-10-245

Bachelor of Business Administration

East West University

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 Letter of Transmittal

Faizaa Zainab Khundker

Lecturer,
Department of Business Administration
East West University
Aftabnagar, Dhaka-1212, Bangladesh

Subject: Term paper of new business plan “Handyhelp”.

Dear Ma’am,
It gives us pleasure to introduce our new business called “Handyhelp” which could be a
revolution. While creating this new business idea we gathered all the information, and we
focused on the topic and tried to show all the resources that we have. We hope that we can show
you our ideas regarding our business and services, our service quality, our target, and goals.

We thank you for following us to do a term paper on a new idea. This will give us an experience
which we can use in our professional life. We will always be available for any further queries
and to answer any questions in this report.

Warm Regards,
Tamjid Jahan Sijda
ID: 2023-1-77-056
On behalf of the group

Table of Contents

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ACKNOWLADGEMENT……………………………………………………………….……..…5
EXCUITEVE SUMMARY……..………………………………………………………………...5
INTRODUCTION…………………………………………………………..…………………….6
SWOT ANALYSIS…………………………………………………………………………….....8
MANAGEMENT……………………………………………………………………...……..…...9
Management team…………..……………...……………..……………………………..……….10
CAPITAL……………………………………………………………………………...………....11
FINANCIAL PLAN………………………..…………………………………...……………….12
Initial Investment…………………………………………………………………………..…….13
Monthly operational costs…………………………………………………………………….… 13
Revenue estimation………………………………………………………………………..……..13
Gross profit…………………………………………….………………………………….…...…
13
Monthly profit or loss statement…………………………………………………………...…….13
Break Even Analysis …………………………………………………………………………....13
Funding Procedures………………………………………………………………………..….
….14
Loss mitigation…………………………………………………………………………………...14
MARKETING PLAN…………………………………………………………………………....14
Target Segment …….……………………………………………………………….………..…15
Competitor Analysis………..…………………………………………………………………....16
Implementation of 4Ps……………………………………………………………………….…17
CONCLUSION…………………………………………………………………………….….…18
REFERENCES…………………………………………………….………………………….....19
APPENDIX………………………………………………………………………………………20
.

Acknowledgement

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We would Like to express our gratitude and wholehearted appreciation to all those who helped
us and provided us with the opportunity to complete and present this report.
First, we would like to thank our honorable faculty, Ms. Faizaa Zainab Khundker, lecturer,
Department of Business Administration, East West University for providing us with the
opportunity to observe and analyze such an interesting topic.

Executive Summary
HandyHelp is an innovative app-based service bridging the gap between skilled handymen and
customers in need of diverse home repair and maintenance services. This business plan serves as
a strategic roadmap for HandyHelp's entry into the flourishing home services market. It is
developed as a partial requirement for the "BUS 101" bachelor’s Business Administration
program at East West University, under the guidance of Ms. Faizaa Zainab Khundker.
Our primary objective is to offer a comprehensive service that simplifies the process of locating
and booking trustworthy handymen for home maintenance tasks. Customers can effortlessly
register through our mobile app or website, request services, and relate to available handymen.
The report outlines our SWOT analysis, management structure, financial projections, and capital
allocation. It also highlights our marketing strategies, emphasizing the 4Ps (Product, Price, Place,
Promotion) approach. As we embark on this journey, HandyHelp aims to revolutionize the home
services industry in Bangladesh by offering quality, convenience, and reliability.
HandyHelp recognizes the growing demand for efficient home repair and maintenance services
in Bangladesh. By offering a user-friendly platform, a wide range of services, and transparent
pricing, we aim to cater to a diverse customer base. With a solid management team and strategic
capital allocation, we are poised for success in a competitive market. While acknowledging
potential challenges and limitations, HandyHelp is committed to providing top-notch services
and reshaping the way home repairs are accessed and executed. We welcome investors and
partners to join us in this exciting venture as we strive to make home repairs hassle-free and
efficient for all.

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 INTRODUCTION

HandyHelp is an app service where our customers can find people to help them with household
tasks, repair or install any kind of plumbing or electronic item and perform car repair or
maintenance. The primary driver behind this is the provision of proper assistance with home
repair and household chores. Additionally, we will be helping our customers in maintaining their
prized vehicles and resolving any kind of problem they are having. All the activities and actions
of HandyHelp will have a clear plan. These strategies and plans will be further explored in this
report.

Origin of the report:

This report is provided to us as a part of the partial requirement of the “BUS 101” bachelor’s
Business Administration program of East West University. Our course instructor Ms. Faizaa
Zainab Khundker, Lecturer of Department of Business Administration, East West University has
assigned us this report as a part of the course. Ma’am has authorized the task of writing this
report on a group basis.

Objective:
The key objective in making this business plan is to provide proper guidelines. This report
explains how HandyHelp operates and where they want to see the Introduction.
myself in the coming years. If HandyHelp needs to raise money from other investors soon, this
report will help the potential investors to see how this business functions. This report will inspire
the founding members and employees to boost revenue, improve customer service and establish
a solid reputation for the business.

Limitation:
This report was created using our assumption, consideration, and research. We consulted web
resources and the business operations of other handyman service providers. However, it doesn’t
imply that we will be seeing the same success or failure as them, it will be very different for us in
the real world which can go both ways on our expectations. On the other hand, the lack of

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information on this subject reduces our accuracy with which we can tell how our business will
perform.

How does Handy help work?

Customers can find qualified handymen for home repairs and upkeep using the portal
HandyHelp. Users sign up, make service requests, and are matched with handymen who are
available. They can monitor the handyman's arrival, and when the service is finished, they can
pay securely using the app and leave feedback. Handyman profiles, open pricing, and emergency
services are some of the key characteristics. Customers and handymen alike benefit from the
easy and dependable access to home repair providers provided by HandyHelp.
Here it is elaborated into steps:

Step 1: Registration
Customers begin by signing up on the HandyHelp mobile app or website, providing their contact
information and payment details.
Step 2: Service Request
Customers submit details about the type of home repair or maintenance service they need.They
can upload photos or provide additional information to clarify the task.
Step 3: Handyman Matching
HandyHelp's algorithms match the service request with available handymen in the customer's
area. Handymen receive notifications about service requests and can choose to accept or decline
based on their availability and expertise.
Step 4: Acceptance and Confirmation
The first available handyman to accept the job relates to the customer. The handyman reviews
the job details and may seek clarification if necessary.
Step 5: Real-time Tracking
Customers can track the handyman's location and estimated arrival time via the app.
Step 6: Service Delivery
The handyman arrives at the customer's location with the necessary tools and materials. They
complete the requested task according to the customer's specifications.
Step 7: Payment and Rating

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Once the service is done, payment is processed automatically through the app using the
customer's payment information. Customers have the option to rate and review the handyman's
service, contributing to service quality and accountability.

SWOT ANALYSIS

Strengths:
Wide Service Range: HandyHelp offers a broad range of home repair and maintenance services,
catering to diverse customer needs.
User-Friendly Platform: The app and website provide an easy-to-use interface for both customers
and handymen to enhance experience.
Quality Control: HandyHelp conducts background checks, verification processes, and training to
ensure handymen provide quality service.
Convenient Payment: Secure and hassle-free in-app payment processing simplifies transactions
for customers and handymen.

Weaknesses:
Competition: The home services industry is highly competitive, with many local and online
platforms vying for customers.
Dependence on Handymen: The platform relies on the availability and reliability of handymen,
which can be inconsistent.
Quality Control Challenges: Ensuring consistent service quality across a network of freelance
handymen can be challenging.

Opportunities:
Market Expansion: HandyHelp can consider expanding into new geographic regions or cities to
tap into untapped markets.
Specialized Services: Offering specialized services like smart home installations or eco-friendly
renovations can cater to specific customer segments.
Partnerships: Collaborating with real estate agencies or property management companies can
lead to increased business.

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Sustainability: Capitalizing on eco-friendly initiatives can align with environmental trends and
attract conscious customers.

Threats:
Competition: Fierce competition can lead to price wars and reduce profitability.
Economic Downturn: Economic recessions may cause consumers to reduce spending on home
services.
Online Reviews: Negative reviews or poor ratings can harm reputation and deter potential
customers.
Technological Issues: Technical glitches, cybersecurity threats, or app failures can disrupt
operations and damage customer trust.

MANAGEMENT

Organizational Chart

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Management Team
COO: Fahim Faisal will be working as a Chief Operating Officer, who will ensure that business
runs smoothly by overseeing companies’ day-to-day work. Also, the COO will manage human
resource , sales, and customer support to maintain order in the company. This executive officer
will also work closely with other executives to align operations and company strategy.
CFO:Tamjid Jahan Sijda will be working as Chief Finance Officer. This officer will be
managing companies financial planning, budgeting, analyzing, and reporting. The officer will
monitor companies’ financial health and ensure compliance with financial regulations.
CTO: Chief Technology Officer will take over the tech related parts where they will strategies
companies the development of the service and implement new parts of service according to
customer needs. He will also make sure that employees are up to date with tech.
CMO: Sindid Hossain will be working as Chief Marketing Officer and responsible for making
effective marketing strategies to promote the service. The officer will manage the marketing
teams and oversee the activity so that the company can understand customers’ needs and work
on that to drive companies’ growth and profit.
HR Manager: Human Resource Manager will make strategies to manage people effectively and
efficiently.
Training Manager: This manager will be making sure all the employees are up-to-dated with tech
and technic. Also, they will provide proper training facilities to make our handymen more
skilled.
Finance & Accounts Manager: Ridwan Ahnaf will be Finance & Accounts Manager and he will
look over all the finance & accounts parts of the company and will help the CFO to establish new
organizational goal.
Developer & Quality Assurance Manager: This manager will look over all the app developers
and quality assurance team and communicate any new organizational goals.
Marketing Manager: Naveed Ahmed is Marketing manager and will work with the marketing
team and generate new ideas to attract new customers to the service and work with the
employees to establish marketing campaigns.
HR Supervisor: This supervisor will try to solve day-to-day problems with employees and try to
solve them anyway possible.

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Training Coordinator: This supervisor will dictate the training parts for the employees and
handymen.
Finance Supervisor: This supervisor will take part in any everyday finance decision. Also, the
supervisor will try to establish the budget and take notes on what should be changed.
Accounts Supervisor: This supervisor will take all the accounts related responsibility.
App Developer Supervisor: This supervisor will be working with the developer team, also will
be responsible to properly maintain the app and motivate developers.
Quality Assurance Supervisor: This supervisor will maintain app quality, fix any bugs and
maintain apps usability.
Customer Support Supervisor: This manager will work closely with customer support and create
proper strategies on how to give customers proper help and satisfaction.
Marketing Supervisor: This supervisor will be working on establishing new marketing goals,
managing campaigns, and leading the marketing team.
Data Analysis Supervisor: This supervisor will analyze the market, monitor market campaigns’
performance, and will recommend optimizations.

CAPITAL

These capital requirements encompass a range of strategic investments necessary for the growth
and sustainability of HandyHelp, a platform connecting handymen with customers for home
repair and maintenance services. The allocation of capital into various key areas is crucial to
ensure the platform's continued success in a competitive market. These areas include technology
development to maintain a user-friendly and efficient app and website, operational capital for
verifying and training handymen, marketing capital for customer acquisition and retention,
human capital for staff salaries and training, and legal and compliance capital to navigate the
intricacies of regional regulations. Effective allocation of these resources plays a pivotal role in
the platform's ability to provide quality service and expand its market presence.

Technology Capital:
Technology Development: Creating and maintaining the HandyHelp app and website.
IT Infrastructure: Investing in servers and databases to support platform scalability.

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Research and Development: Continuously improving the app's features and user experience.
Operational Capital:
Background Checks and Verification: Ensuring the quality and trustworthiness of handymen.
Customer Support: Establishing and maintaining efficient customer support channels.
Operational Expenses: Covering day-to-day expenses such as office rent, utilities, insurance, and
legal fees.
Emergency Fund: Maintaining a reserve fund to handle unforeseen challenges.
Marketing and Promotion Capital:
Digital Marketing: Online advertising, social media campaigns, and search engine optimization.
Advertising: Promoting the platform's services to attract customers and handymen.
Referral Programs: Encouraging users to refer to friends and family.
Market Research: Researching the market to understand customer preferences and competition.
Customer Acquisition Efforts: Strategies to attract and retain customers.
Human Capital:
Training and Certification: Investing in training and certification programs for handymen.
Salaries and Wages: Payroll for employees involved in customer support and platform
maintenance.
Data Analytics: Leveraging data analytics to improve service quality and user experience.
Legal and Compliance Capital:
Regulatory Compliance: Navigating different regional regulations and licensing requirements.
Legal and Compliance Expenses: Costs related to legal advice, contracts, and regulatory
compliance.
Insurance: Providing necessary insurance coverage, such as liability insurance and worker's
compensation.

FINANCIAL PLAN

Initial Investment:
Costs for Business Registration and Licensing: 55,000 Taka
Acquisition of Tools and Equipment: 6 lakhs
Budget for Marketing and Advertising: 3 lakhs

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Insurance Expenses (General Liability, Workers' Comp): 50,000 Taka
Initial Working Capital: 2.5 lakhs
Total Startup Expenses: 1,255,000 Taka

Monthly Operational Costs:

Monthly Rental or Home Office Costs: 55,000 Taka
Utilities and Internet Expenses: 20,000 Taka
Marketing and Advertising Expenses: 40,000 Taka
Insurance Costs (General Liability, Workers' Comp): 28,000 Taka
Supplies and Materials Budget: 1 lakh.
Employee Compensation (if applicable): 2 lakhs
Miscellaneous Expenditures: 33,000 Taka
Total Monthly Operating Costs: 476,000 Taka

Revenue Estimation:
Average Price per Job: 20,000 (Varies depending on location and job complexity)
Anticipated Monthly Jobs: 20 (Varies with marketing and availability)
Total Monthly Revenue Projection: 4 lakhs

Gross Profit Margin:

Gross Profit Margin = (400,000 – 100,000) / 400,000 = 75%

Monthly Profit and Loss Statement (P&L):

Total Monthly Revenue: 4 lakhs
Cost of Supplies and Materials: 1 lakh
Monthly Gross Profit: 400,000-100,000= 300,000 Taka
Monthly Operating Expenses: 476,000 Taka
Monthly Net Profit (Loss): 300,000-476,000 = -176,000 (Negative indicates a loss)

Break-Even Analysis:
Break-Even Point (in jobs per month) = Total Monthly Operating Costs / Average Profit per Job

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Break-Even Point = 476,000/ (400,000 – 100,000) = 1.58 (Rounded up to at least 2 jobs to break
even)

Funding Procedures:
We'll use personal savings for start-up costs, involve friends and family members who might be
interested in investing in our business, seek angel investors who are interested in tech startups or
the service industry and explore online funding platforms.

Loss Mitigation:
In case of losses, we will review our expenditure and identify areas where we can reduce costs.
We could think about modifying our marketing approaches to draw in a larger user and service
provider base. We can also investigate possibilities for boosting our earnings, like offering
premium services or entering new markets etc.

MARKETING PLAN

Industry Review

Key Trends and Development

The gig economy's growth is fostering a pool of skilled freelancers, including handymen, for on-
demand work. Technology integration, exemplified by platforms like HandyHelp, streamlines
service provider-customer connections through apps and websites. Specialized services like
smart home installations, eco-friendly renovations, and aging infrastructure repairs are in
demand, offering a competitive edge. Online reviews heavily influence customer choices, with
top-rated businesses attracting more clients.

Challenges
Navigating varying regional regulations and licensing requirements presents a challenge for
home repair businesses. Ensuring consistent service quality among a network of freelance
handymen is also demanding, often requiring investments in background checks and training.

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Building and maintaining customer trust is crucial, as negative experiences can harm reputation.
The industry faces intense competition, both from traditional local services and online platforms,
emphasizing the importance of effective marketing and differentiation. Economic downturns can
impact on the sector, as consumer spending on repair and renovation projects may decrease.

Opportunities
Expansion into New Services: There's an opportunity for businesses to diversify and offer
additional services related to home repair and maintenance, such as landscaping, cleaning, or
pest control.
Competition: In Bangladesh there is not much competition in this industry. There are some
competitors, but they have their limitations.
Data Analytics: Leveraging data and analytics can help businesses better understand customer
preferences and improve service quality.
Partnerships: Collaborating with other home service providers, real estate agencies, or property
management companies can open new channels for customer acquisition.

Target Market Segment

The market segmentation for a business like HandyHelp, which connects handymen with
customers for home repair and maintenance services, can be divided into several categories.
These categories help identify and target specific customer groups with distinct needs and
preferences. Here are some key market segments:

Residential Customers:
Homeowners: Homeowners are a primary market segment. They may need a handyman for
various repair and maintenance tasks around their homes.
Renters: Renters may require maintenance services in their rented properties, and they often rely
on the property management or handyman services provided by their landlords.

Commercial Customers:

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Property Managers: Property management companies and landlords may need a handyman to
maintain and repair rental properties.
Small Businesses: Small businesses, such as offices, stores, and restaurants, may require
maintenance services for their commercial spaces.

Seniors and Elderly Population:

Seniors: Older individuals may have specific home repair and maintenance needs. They may
appreciate services that cater to their unique requirements, such as accessibility modifications or
safety improvements.

Busy Professionals:
Working Professionals: People with busy schedules may not have the time or expertise to
perform home repairs. They seek convenient and efficient services.
Families: Families with dual-income earners may need help with household repairs due to time
constraints.

Competitor Analysis
Today's economy is a gig economy. But in the service industry of Bangladesh the gig system has
not grown that much. There are a lot of competitors in this market, but they all have their own
limitations. Our main competitors are SHEBA.xyz, Shohokari, Handymama. They do have their
expertise, but we will be leveraging their limitations.
SHEBA.xyz: Sheba is a similar platform which provides various kinds of services such as
repairing, renovating, shifting. Their limitation here is they don't have awareness among the
people. They have failed to tap into their potential customers.
Shohokari: Shohokari is a similar platform to Sheba but with a wider range of services. They
have similar limitations as Sheba.
Handymama: Handymama is a popular growing handyman service providing platform. Although
they are growing, they are providing some limited services to the customers.

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Implementation of the 4Ps

Product

By product it is referred to the wide range of services and features that handyhelp will be
providing.
Services: Handyhelp covers a wide range of services such as appliance repair, painting and
renovation, cleaning and pest control, electronics, and gadget repair, shifting, car services, house
care services and a lot more.
Features: Our focus would be to provide the services to the customers as smoothly and fast as
possible. Handyman will have a user-friendly app and website to easily navigate through our
services. Customers can access transparent pricing for common tasks and receive accurate
quotes for their specific needs.HandyHelp ensures the quality of its handymen through
background checks, verification processes, and, if needed, training and certification programs.

Price

"Price" involves determining how much customers will pay for the services offered. HandyHelp
follows these pricing strategies:
Competitive Pricing: The pricing structure is competitive within the local handyman services
market, offering value for the services provided.
Transparent Pricing: Customers are given clear pricing information upfront to avoid surprises,
and they can request accurate quotes for customized services.
Subscription Model: HandyHelp may offer premium subscription plans to customers that provide
benefits such as discounts, priority access, or faster service for a monthly fee.

Place

"Place" refers to how customers access the product or service. For HandyHelp

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Digital Platform: HandyHelp primarily operates through its mobile app and website, making it
accessible to a wide customer base.
Customer Support: Efficient customer support channels, such as in-app chat or a helpline, are
available to assist customers.

Promotion

"Promotion" involves marketing and promotional activities to create awareness and attract
customers. HandyHelp employs various promotional strategies:
Digital Marketing: Utilizes online advertising, social media campaigns, and search engine
optimization to reach potential customers.
Referral Programs: Encourages users to refer friends and family in exchange for discounts or
other incentives.
Influencer Marketing: Handyhelp can collaborate with popular influencers among the target
segment to gain their trust and loyalty.
Customer Reviews and Ratings: Encourages customers to leave reviews and ratings, leveraging
positive feedback for promotional purposes.

Conclusion
All the information of this business “Handyhelp” is broadly described in that report based on our
research, there is a huge potential in that sector. Soon, this sector will be bigger and wider. Day
by day people are connecting with technology and they always like to try new systems and
technology. If we utilize the opportunities properly, this business will be groundbreaking in
Bangladesh Market

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 REFERENCES

Creately- “Organization Structure of Tech Company”

https://creately.com/diagram/example/j75s83fx5/organizational-structure-of-a-tech-company

Velvetech- “Mobile App Development team: structure and roles

https://www.velvetech.com/blog/mobile-app-development-team-structure/?fbclid=IwAR2-
57_CAoblk_Id5flG2DtITO1TYocppacPXNa3h8arBwoA3v0DbjRIjSI

Bplans- “Handyman Maintenance Business Plan”

https://www.bplans.com/handyman-maintenance-business-plan/financial-plan/?
fbclid=IwAR3aRkb3ptDdL4SHBVZLwi2arRNa7xqxHoRfY5bFvKVL6g3cy0lJnBcjndE

Smashingmagazine- “A Complete Guide to Mobile App Marketing”

https://www.smashingmagazine.com/2022/03/guide-mobile-app-marketing/?
fbclid=IwAR0R3zX83GnN2XV4lWl8e6pOSq_61FPvH2y6fBCRkCC7AFFEvWZ1YyCP2Rc

Deshiz- “5 Best Online Home Service Providers in Bangladesh”

https://deshiz.com/home-service-providers/?
fbclid=IwAR1NE1CCNaFkZnpNiJDgozNRgGsVpuLgLQ-iwUYqCbK5nWRmoZKk5B9sDB4

Your Story
https://yourstory.com/2015/04/mr-right?fbclid=IwAR1MVubu3j-
SoU3D8ApfuuFODq1CqmzVlnP_O9vHGaqAAuHIYejWaTp_kwY

Startup talky
https://startuptalky.com/housejoy-success-story/?
fbclid=IwAR3mZjmPScobBrRolHZz3ivaMgQ3gpxgBW1_n5qmNNykkxxRkb39SA0QW7g

APPENDIX

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Appendix A: Customer Satisfaction

Customers review the app and the service they got from the handymen.

Appendix B: Handyman Background Verification

CV of handymen and background information.

Appendix C: Sample Handyman Profiles

Handymen profiles will include their rating, skills and working experience.

Appendix D: Marketing Campaign Performance Data

Appendix D offers detailed data and analysis from our recent marketing campaigns. It includes
metrics such as click-through rates, conversion rates, and user engagement statistics.

Appendix E: Financial Projections

In this section, you will find financial projections for HandyHelp for the next three years. This
includes revenue forecasts, expense breakdowns, and a break-even analysis.

Appendix G: Emergency Service Response Times

Customers will be connected to our helpline where they will find help.

Appendix H: HandyHelp Marketing Materials

Flyer, poster, billboard and online ads are used as marketing material.

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