A Comprehensive Business Plan for

RONGER SOJJAA: Painting Dreams into Reality

A Comprehensive Business Plan for RONGER SOJJAA:
Painting Dreams into Reality
Course Code: F-406

Course Title: Entrepreneurship and Development

Prepared for:

Dr. Tazrina Farah

Associate Professor

Department of Finance

Faculty of Business Studies

University of Dhaka

Prepared by:

Group: 02

Section: B

BBA 26th Batch

Department of Finance

Faculty of Business Studies

University of Dhaka

Date of Submission: June 02, 2024

 Group Profile
Serial No. Name ID Remarks
01. Faisal Salim Khan 26-043

02. Sakib Hossen 26-049

03. Chaiti Paul 26-061

04. Pear Mohammad Sayem 26-068

05. Amrin Islam 26-089

06. Tonmoy Chowdhury 26-163

07. Jarin Rahman 26-178

Letter of Transmittal
June 02, 2024

Dr. Tazrina Farah

Associate Professor

Department of Finance

University of Dhaka

Subject: Submission of the term paper of F-406: Entrepreneurship and Development

Dear Ma’am,

We are pleased to present a comprehensive business plan for Ronger Sojjaa, titled “Ronger
Sojjaa: Painting Dreams into Reality.” This plan outlines our strategy to transform the custom art
and portrait industry in Bangladesh through innovative services and technology integration. This
plan provides a roadmap for establishing “Ronger Sojjaa” as a leading platform in Bangladesh's
art market. We are committed to fostering creativity and driving sustainable growth.

Lastly, group 02 would like to thank you for authorizing this report. The authors have tried to
ensure all the necessaries so that this report can comply with your expectation and will expect
your kind consideration for any shortcomings in this report.

Sincerely yours,

Jarin Rahman

Department of Finance

Faculty of Business Studies

University of Dhaka

On behalf of the members of the Group 02

Acknowledgement
We are honored to present the term paper for the course "Entrepreneurship and Development" to
Dr. Tazrina Farah Ma’am, Associate Professor, Department of Finance, and University of Dhaka.
We want to express our sincere gratitude to her for giving us pertinent recommendations and
instructions so we could write this term paper. Additionally, her in-class lectures were insightful,
which helped us with the work.

It took a team effort to write the term paper. Instead, it is the result of hard work and
perseverance. The members of Group-02 are thus deserving of praise and adulation. We also
wish to thank our classmates for their excellent assistance with this report. They helped us a lot
and were consistently willing to do so. Our peers have helped us out.

The knowledge we gained while putting this report together will benefit us as we pursue our
career in entrepreneurship and development. We shall therefore be rewarded for our efforts.
Table of Content

Table of Content .......................................................................................................................................... vi

Executive Summary ................................................................................................................................... viii
Chapter 1: Introduction ................................................................................................................................. 1
1.1 The Origin of the Report ............................................................................................................... 1
1.2 The Objectives of the Report ........................................................................................................ 1
1.3 The Methodology of the Report .......................................................................................................... 1
1.4 The Limitations of the Report ............................................................................................................. 1
Chapter 2: The Business Plan ....................................................................................................................... 2
2.1 Feasibility Analysis ............................................................................................................................. 2
Strength of the Business Idea: ............................................................................................................... 2
Industry-related Issues: ......................................................................................................................... 2
Target Market and Customer-related Issues: ........................................................................................ 3
Founder and Founder-related Issues: .................................................................................................... 3
Financial Issues: .................................................................................................................................... 3
2.2 Survey ................................................................................................................................................. 4
2.3 Industry Analysis ................................................................................................................................ 8
Industry Size and Growth Rate ............................................................................................................. 8
Industry Structure.................................................................................................................................. 8
Key Driven Factors ............................................................................................................................... 9
Environmental Trends ......................................................................................................................... 10
Business Trends: ................................................................................................................................. 11
Porter’s Five Forces Model ................................................................................................................. 12
2.4 Company Description ....................................................................................................................... 13
2.5 Market Analysis ................................................................................................................................ 14
Target Market: .................................................................................................................................... 14
The Market Segmentation: .................................................................................................................. 17
2.6 Marketing Plan .................................................................................................................................. 17
Marketing Mix ..................................................................................................................................... 17

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 2.7 Design and Development .................................................................................................................. 19
Projected Development Cost ............................................................................................................... 19
Proprietary Issues: ............................................................................................................................... 19
2.8 Management Team............................................................................................................................ 20
2.9 Operational Plan................................................................................................................................ 21
2.10 Financial Plan.................................................................................................................................. 24
Assumptions:....................................................................................................................................... 24
Forecasted Financial Statements ......................................................................................................... 26
Conclusion .......................................................................................................................................... 31
2.11 Overall Schedule ............................................................................................................................. 32
Appendix ..................................................................................................................................................... 39
Revenue Profile....................................................................................................................................... 39
Expense Profile ....................................................................................................................................... 40
Loan Scheduling ..................................................................................................................................... 41
WACC .................................................................................................................................................... 41

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Executive Summary
'Ronger Sojjaa' is not just a painting service business. It will be a platform of passionate artists,
craftsmen and visionaries dedicated to bringing colors and life to your world. Alongside, it will
serve as an online platform for semi professional and professional painters to find buyers for
their paintings. Also, Ronger Sojjaa will play as a host that displays the work of portraitists.
They can find a large number of buyers for their Portraits easily. We are aiming to provide art
teachers who will provide home tuition service to children and students eager to learn artistic
skills. Our main source of revenue is basically commission based. We charge commission on
each successful transaction. It can be either a painter hiring or portrait sale or choosing an art
teacher for children.

The primary strengths of Ronger Sojjaa are Diverse Service Offerings, Targeting Various
Markets, and Convenience for Customers and Revenue Model. However, there are some
potential industry-related issues and challenges to consider such as Competition, Quality
Control, Market Saturation and Regulatory Compliance. The target market and customer-related
issues include Identifying Needs, Building Trust and Customer Acquisition. The founder and
founder-related issues include Expertise, Networking and Resilience. Finally, the financial
issues are Financial Projections, Cash Flow Management and Investment Needs.

The custom art and portrait industry in Bangladesh is rapidly expanding due to digital adoption,
urban development, and a growing appreciation for art. The industry is fragmented, with
individual artists, small studios, galleries, and online platforms operating independently, but
Ronger Sojjaa adds value by consolidating these players to offer convenience, consistency, and
quality assurance.

Key strategies include targeting niche markets like cafes and schools, integrating technology
with virtual consultations and online galleries, forming strategic partnerships with suppliers and
local businesses, and leveraging marketing through social media and local events.

Porter’s Five Forces analysis indicates a moderate threat of new entrants due to initial investment
barriers, high bargaining power of buyers with many options, moderate bargaining power of

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suppliers, low threat of substitutes due to unique service combinations, and high competitive
rivalry requiring differentiation through innovation and quality.

Our marketing strategy includes digital campaigns, influencer collaborations, and community
engagement, aiming to establish Ronger Sojja as a leader in innovative and personalized color
solutions in Bangladesh.

Ronger Sojjaa's financial plan includes a detailed pro forma income statement covering costs
such as rent, payroll, and advertising, alongside revenue estimates from other art-related services.
The pro forma balance sheet provides an overview of the company's assets, liabilities, and
equity, showcasing efficient resource allocation and investor appeal. The cash flow statement
details the cash inflows and outflows for operating, investing, and financing activities. The
venture's equity value stands at 5,579,574 Taka, with each share valued at 52 Taka. Together,
these financial documents create a strategic framework for raising funds, managing growth, and
ensuring sustained success in the art services industry.

To build brand loyalty and promote our quality painting and teaching services, we will
implement a comprehensive marketing plan. This involves establishing a strong online presence
via social media, partnering with art influencers, engaging in content marketing, and
participating in industry fairs. By using targeted advertising, engaging storytelling, and
emphasizing our service's unique benefits, we aim to create a loyal customer base and drive
sales.

In this report, we have shown about our management team also. Finally, the report outlines the
operation plan for a service-based company, detailing app development with features like user
registration, profile creation, search functionality, booking, messaging, and payment options.
Painters and teachers will undergo profile verification, listing their skills and availability, while
clients will have easy sign-up and profile creation. The app will facilitate connections based on
user preferences. Promotional strategies include workshops, social media ads, free trials, and
road shows. Payment methods will encompass various options such as Nagad, bKash,
MasterCard, Visa and Rocket. Customer support will be provided through multiple channels, and
performance will be evaluated through feedback and ratings to ensure continuous improvement.

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Chapter 1: Introduction
1.1 The Origin of the Report

The term paper is our requirement for the BBA program. Our honorable course instructor Dr.
Tazrina Farah (course no: F-406) has assigned us to make a term paper on “A Comprehensive
Business plan for Ronger Sojjaa: Painting Dreams into Reality.” So, this term paper will help us
to improve our knowledge on how to build a business idea and solve a real-life business
problem.

1.2 The Objectives of the Report

● To complete the course F-406: Entrepreneurship and Development by understanding the

practical use of it.
● To know how to make a business plan.
● To know the complete process of solving a real-life business problem.

1.3 The Methodology of the Report

After being assigned to prepare the term paper, we divided the topics among 7 of us and started
working on them. We had help from our course instructor on how elements of a term paper are
structured. We developed the idea with the help of our group members. We tried to make them
stand out in such a way that the information can easily be understandable for everyone.

1.4 The Limitations of the Report

● Lack of available sources.

● Lack of experience in this section was a big hindrance.
● Inefficiency of ours.

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Chapter 2: The Business Plan

2.1 Feasibility Analysis

Strength of the Business Idea:

1. Diverse Service Offerings: By catering to both painters and portraitists, as well as providing
art teaching services, we are tapping into multiple segments of the art industry.

2. Targeting Various Markets: We are aiming at a broad spectrum of customers including

households, offices, cafes, restaurants, schools, and public infrastructure, which expands our
potential customer base.

3. Convenience for Customers: Offering a platform that connects customers with artists and art
teachers provides convenience and accessibility for those seeking artistic services.

4. Revenue Model: Our commission-based revenue model aligns with the transactions
facilitated through our platform, ensuring profitability with each successful transaction.

Industry-related Issues:

1. Competition: We’ll likely face competition from existing platforms connecting artists with
customers, as well as traditional methods of finding painters and art teachers.

2. Quality Control: Maintaining quality standards for both the artwork and teaching services
will be essential to build trust and credibility among customers.

3. Market Saturation: Depending on the location, the market for artistic services may already
be saturated, making it challenging to attract both artists and customers.

4. Regulatory Compliance: We have to ensure compliance with any local regulations regarding
art services, contracts, and commission structures to avoid legal issues.

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Target Market and Customer-related Issues:

1. Identifying Needs: Conducting thorough market research to understand the specific needs and
preferences of our target customers in each segment (households, offices, etc.).

2. Building Trust: Establishing trust and credibility with customers will be crucial, especially if
they are entrusting their homes, businesses, or children's education to our platform.

3. Customer Acquisition: We have to develop effective marketing strategies to attract both

artists and customers to our platform, highlighting the unique benefits and value proposition we
offer.

Founder and Founder-related Issues:

1. Expertise: We have to ensure that the founding team possesses the necessary expertise in both
the art industry and business management to effectively launch and scale the platform

2. Networking: Building strong connections within the art community can help with recruiting
talented artists and establishing partnerships with relevant organizations.

3. Resilience: We have to be prepared to face challenges and setbacks along the way, and
demonstrate resilience and adaptability in navigating the complexities of launching a new
business.

Financial Issues:

1. Financial Projections: We have Develop realistic financial projections, taking into account
factors such as operating expenses, marketing costs, and potential revenue streams.

2. Cash Flow Management: We have to monitor cash flow closely, especially in the early
stages of the business, to ensure sufficient liquidity to cover expenses and sustain operations.

3. Investment Needs: We have to assess whether additional funding or investment may be

required to support the growth and expansion of the platform, and explore various sources of
funding such as angel investors or venture capital.

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2.2 Survey
Q1. How interested are you in the idea of hiring a painter from our website for your
specific needs?

56.7% of people answered ‘interested’ to this question and 16.7% of people answered ‘highly
interested’ to this question and only 6.6% of people answered no to this question. So, we can
conclude that there is a demand for hiring painters from our website.

Q2. How interested would you be in purchasing custom portraits for your office,
restaurant, school or home?

60% of people answered ‘interested’ to this question and 26.7% of people answered ‘highly

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interested’ to this question and only 3.3% of people answered ‘not interested’ to this question.
So, we can conclude that there is a demand for purchasing custom portraits.

Q3. How interested would you be in booking art teachers for your children or siblings?

40% of people answered ‘interested’ to this question and 23.3% of people answered ‘highly
interested’ to this question and only 10% of people answered ‘not interested’ to this question. So,
we can conclude that there is a demand for booking art teachers.

Q4. Do you think people would like to join us as a teacher or painter?

86.7% of people answered ‘yes’ to this question and only 13.3% answered ‘no’ to this question.
So, we can conclude that there is a demand for joining us as a teacher or painter.
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Q5. What features would you most like to see on the website?

Out of 30 people, 15 people wanted to see detailed artist profiles, 24 people wanted to see
customer reviews and ratings, 19 people wanted to see an easy booking and scheduling system
and 14 people wanted to see secure payment options on our website.

Q6. What social media do you use most frequently where you would like to see
advertisements for this service?

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Out of 30 people, 28 people use Facebook which is 93.3% of the sample. So, we should use
Facebook as the primary social media platform for advertisements.

Q7. Do you have any suggestions for improving this business concept?

They suggested:

• To add a value proposition clarification and to focus on enhancing the customer

experience.
• To update the features and services maintaining the consistency with recent trends and
fashion
• To advertise it by the celebrities and include all necessary information in our website to
facilitate the decision-making process of consumers.
• To appoint creative painters.

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2.3 Industry Analysis

Industry Size and Growth Rate

The custom art and portrait industry in Bangladesh is an emerging market with significant
growth potential, driven by increasing digital adoption and growing cultural appreciation for art.
Ronger Sojjaa is positioned within three interrelated market segments: painting services, art sales
(specifically portraits), and art education while also offering customized merchandise. Each
segment has unique dynamics and growth drivers. While exact figures are difficult to come by
due to the fragmented nature of the market and the commonness of informal transactions, several
indicators suggest a robust growth trend. The painting services market in Bangladesh is
expanding, with a significant number of residential and commercial projects driving demand.
The market is projected to grow at a steady rate due to ongoing urban development initiatives.
The art market in Bangladesh is expanding, driven by a rising number of art enthusiasts who are
collecting artworks and actively participating in art events such as exhibitions and auctions.
Additionally, there is a growing trend among younger demographics towards purchasing art
online. The demand for art education in Bangladesh is rising, with parents seeking
extracurricular activities to enhance their children's creativity and skill development. The market
is characterized by a mix of traditional art schools and emerging online platforms. There’s a
noticeable uptick in cultural appreciation for art, both traditional and contemporary, in
Bangladesh. Customers are increasingly seeking unique pieces that reflect their individual tastes
and preferences. The market for customized merchandise like clothing, accessories, and home
decor is growing as e-commerce platforms become more popular in Bangladesh. Industry experts
estimate that the art market, including custom art and portraits, could be valued at several million
dollars annually. This includes sales from online platforms, galleries, and direct artist
commissions. The market size could potentially double over the next 3-5 years, assuming
continued economic growth and increasing digital adoption.

Industry Structure
The custom art and portrait industry in Bangladesh can be considered fragmented. This
fragmentation arises from the diverse range of participants, including individual artists, small

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studios, galleries, and online platforms, each operating independently and catering to different
segments of the market. Additionally, the industry lacks a centralized authority or organization,
further contributing to its fragmented nature. This fragmentation can make it challenging to
obtain comprehensive market data and insights, as well as to coordinate efforts across the various
players in the industry. However, it also encourages creativity, diversity, and innovation within
the sector. By consolidating various fragmented players under one platform, Ronger Sojjaa can
create value through convenience, consistency, and quality assurance. This strategic positioning
can help Ronger Sojjaa stand out in a highly fragmented market landscape.

Key Driven Factors

Niche Market Focus:

Ronger Sojjaa will target specific segments like cafes, schools, offices and public infrastructure
for its painting services. It will focus on local cultural themes and personalized portraits for art
sales through Ronger Sojjaa.

Ronger Sojjaa will offer tailored art tuition services to cater to the needs of its students. It will
cater to niche markets with unique customization needs for customized merchandise on Ronger
Sojjaa's platform.

Technology Integration:

Ronger Sojjaa will use virtual meetings and tools that let the customers see how the paintings
will look before they are done. On Ronger Sojjaa's website, customers can browse through art
galleries online, and the site will suggest art they might like based on what they've looked at
before.

Ronger Sojjaa will offer fun online lessons and classes where people can learn art interactively.
People can easily customize products on Ronger Sojjaa's site and order them hassle-free.

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Strategic Partnerships:

Ronger Sojjaa will collaborate with paint and art supply manufacturers to ensure quality
materials. It will partner with local cafes, restaurants, and schools to expand its reach and
customer base through Ronger Sojjaa. Ronger Sojjaa will connect with art schools and
educational organizations to enhance its offerings and credibility.

Marketing and Brand Building:

Ronger Sojjaa will host local art events and workshops to engage with the community and
promote its brand.It will leverage social media and online advertising to increase visibility and
attract customers to Ronger Sojjaa's platform.

These strategies will help Ronger Sojjaa establish itself as a leading intermediary platform in
Bangladesh's art industry, catering to diverse customer segments and driving growth in the
region.

Environmental Trends
Growth of the Middle Class: As the middle class expands in Bangladesh, there may be an
increase in disposable income and spending on leisure activities such as art-related services and
products.

Rise of E-commerce: The growing popularity of e-commerce platforms in Bangladesh presents

an opportunity for Ronger Sojjaa to reach a wider audience and tap into the online market for art-
related services and merchandise.

Urbanization and Real Estate Development: Rapid urbanization in cities like Dhaka is leading
to an increased demand for interior decoration, including custom art for homes and offices.

As more multinational companies establish offices in Bangladesh, there is a growing market for
corporate art to enhance office spaces.

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Social and Cultural Trends: There is a strong trend towards personalization in consumer
goods, including art. Customers are increasingly seeking unique, custom-made pieces that reflect
their individual tastes and personalities.

Social media platforms significantly influence trends in art, with viral posts and influencer
endorsements driving popularity and sales.

Technological Advancements: Continued advancements in technology may lead to innovations

in the art industry, such as virtual reality art experiences or AI-driven art recommendations,
which Ronger Sojjaa can leverage to enhance its offerings.

Government Initiatives: Government initiatives to promote the arts and cultural heritage may
provide support and incentives for businesses operating in the art sector, potentially benefiting
Ronger Sojjaa's operations.

Business Trends:
Personalization: Consumers are increasingly seeking personalized experiences and products.
Ronger Sojjaa can capitalize on this trend by offering customized painting services, personalized
artwork, and tailored art education programs.

Sustainability: There is a growing emphasis on sustainability and eco-consciousness in

consumer behavior. Ronger Sojjaa can differentiate itself by using environmentally friendly
paints and materials, promoting sustainable art practices, and supporting local artisans who
prioritize sustainability.

Online Presence and Digitalization: With the rise of digitalization, having a strong online
presence is crucial. Ronger Sojjaa should focus on building an intuitive and user-friendly website
and leveraging social media platforms to showcase its services, connect with customers, and
drive sales.

Remote Work and Learning: The COVID-19 pandemic has accelerated the adoption of remote
work and learning. Ronger Sojjaa can offer virtual painting consultations, online art classes, and
remote art workshops, making its services accessible to a wider audience.

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Collaborations and Partnerships: Collaborations and partnerships can provide valuable
opportunities for growth and expansion. Ronger Sojjaa can collaborate with local artists, art
schools, businesses, and community organizations to co-create artworks, host events, and reach
new customers.

Porter’s Five Forces Model

Threat of New Entrants: Moderate

The threat of new entrants for Ronger Sojjaa is moderate, as there is potential for new
competitors to enter the market, but significant barriers exist that can deter their entry. The initial
investment for setting up an online art platform, establishing a strong brand presence and
network of artists, suppliers, and customers can act as significant barriers. Additionally, existing
competitors may have already captured a considerable share of the market, making it challenging
for new entrants to gain traction.

Bargaining Power of Buyers: High

Buyers have significant bargaining power due to the availability of numerous artists and
platforms. They can compare prices, styles, and quality across different sources. The trend
towards customization gives buyers more power to dictate specific requirements.

Bargaining Power of Suppliers: Moderate

For Ronger Sojjaa, suppliers in the art industry, such as artists, art supply manufacturers, and
technology providers, may have moderate to high bargaining power. The availability of skilled
artists and quality art supplies can significantly impact costs and product offerings. However,
Ronger Sojjaa can mitigate this power through strategic partnerships, alternative sourcing, and
fostering long-term relationships with suppliers.

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Threat of Substitutes: Low

For Ronger Sojjaa, while there may be substitutes for individual services or products, such as
traditional art galleries or local painting contractors, the platform's unique combination of
services and its focus on niche markets can help mitigate the threat of substitutes.

Rivalry among Existing Competitors: High

Competitive rivalry for Ronger Sojjaa is high, as there is significant competition in the art
industry. The platform will need to differentiate itself through innovation, quality, and customer
service to thrive in this competitive landscape.

2.4 Company Description

Have you ever walked into a room and felt instantly uplifted by the colors that surround you?

“Ronger Sojjaa- painting dreams into reality” is not just a platform of passionate service
business; it will be a platform of passionate artists, craftsmen and visionaries dedicated to
bringing colors and life to your world. Ronger Sojjaa is more than a painting service; it is a
transformative experience that brings vibrant colors and artistic vision to your living and
working spaces.

Aspects Description
Company Name Ronger Sojjaa
Industry Painting services, Art, and Craftsmanship
Mission Statement To uplift and transform spaces through the
power of color, artistry, and craftsmanship
Tagline Painting Dreams into reality
Core Values • Creativity
• Passion
• Quality
• Customer Satisfaction
Service Offering • Residential Painting
• Commercial Painting
• Custom Murals
• Artistic Wall Finishes
• Color Consultation
Target Market • Homeowners

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 • Businesses
• Interior Designers
• Property Developers
Unique Selling Proposition • Highly skilled and passionate artists
• Custom, personalized and service
• Usage of high-quality materials
• Attention to detail and craftsmanship
Company Vision To become a leading platform for transforming
spaces through innovative and personalized
color solutions, enhancing the beauty and
emotional appeal of environments

Key Features of Ronger Sojjaa:

Features Description
Diverse Artistic Team Network of artists, and painters
Comprehensive Services Residential and commercial painting, customer
installations
Personalized Consultations Color psychology, design consultations, virtual
consultations
Eco-friendly Solutions Sustainable materials, waste reduction
practices
Community Engagement Supporting local artists, hosting workshops and
events

Ronger Sojjaa stands out by combining artistic passion with professional service, making every
project not just a job, but a work of art that brings joy and inspiration to spaces.

2.5 Market Analysis

Target Market:
1. Residential Homeowners:

• Demographics: Middle to upper-middle-class families, and new homeowners.

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 • Psychographics: Homeowners looking to personalize their living spaces with vibrant,
uplifting colors. They value aestheticism and are willing to invest in professional services
to enhance their home environment.
• Geographic Focus: Urban and semi-urban areas, especially in cities like Dhaka,
Chittagong, Sylhet, and Khulna, where there is a higher concentration of newly built
residential properties and renovations.

2. Commercial Businesses:

• Types of Businesses: Offices, restaurants, cafes, retail stores, hotels, and hospitality
• Psychographics: Business owners and managers who understand the impact of ambiance
on customer satisfaction and employee productivity. They seek to create inviting and
visually appealing spaces that reflect their brand identity.
• Geographic Focus: Central Business districts and commercial spaces in major cities
such as Gulshan, Banani, Dhanmondi in Dhaka, Agrabad in Chittagong, and other
important business areas.

3. Real Estate Developers:

• Demographics: Real estate companies and property developers.

• Psychographics: Developers aiming to enhance the appeal of their residential and
commercial projects. They require professional painting services to ensure high-quality
finishes that attract buyers and tenants.
• Geographic Focus: Large-scale residential and commercial development projects in
growing urban areas.

4. Educational Institutions:

• Types of Institutions: Schools, colleges, universities, and coaching centers.

• Psychographics: Administrators and decision-makers who prioritize creating a
conductive learning environment through the usage of color psychology. They
understand that vibrant and well-maintained facilities can improve student engagement
and satisfaction.

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 • Geographic Focus: Established and upcoming educational institutions in urban and
semi-urban regions.

5. Healthcare Facilities:

• Types of Facilities: Hospitals, clinics, dental offices, and wellness centers.

• Psychographics: Facility managers and healthcare professionals who recognize the role
of soothing and positive colors in patient recovery and comfort. They seek to create
calming and welcoming spaces for patients and staff.
• Geographic Focus: Key healthcare zones and new medical facilities in major cities and
towns.

6. Hospitality Industry:

• Types of Businesses: Hotels, resorts, guesthouses, and boutique accommodations.

• Psychographics: Owners and managers focused on offering unique and visually
appealing experiences to guests. They value professional artistry that can transform
spaces into memorable environments.
• Geographic Focus: Tourist places like Cox's Bazar, Sylhet, the Sundarbans region,
Chittagong Hill tracts, and all world heritage sites.

7. Cultural and Recreational Centers:

Types of Centers: Art galleries, museums, theaters, community centers, and recreational clubs.

Psychographics: Directors and curators who seek to enhance visitor experiences through
creative and vibrant environments. They value collaboration with artists to bring cultural spaces
to life.

Geographic Focus: Cultural districts and recreational centers in cities and tourist regions.

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The Market Segmentation:
Based on the Segmentation, Ronger Sojjaa can focus on the following primary target markets
in Bangladesh:

1. Urban young professionals and families:

• Demographics: Aged 25-45, middle to high-income earners.
• Geographic: Urban areas, especially Dhaka and Chittagong.
• Psychographic: Modern, stylish, value aesthetics, and quality.
2. Commercial properties and corporate offices:
• Demographics: Businesses and corporations, high-income segments
• Geographic: Business districts and commercial spaces like Gulshan, Banani in
Dhaka, and Agrabad in Chittagong.

3. Real Estate developers and interior painters:

• Demographics: Professionals in real estate and design industries.
• Geographic: Urban and Cox’s Bazar development areas.
• Psychographic: Highly value quality craftsmanship and unique, and artistic
solutions.

By Focusing on these segments, Ronger Sojjaa can tailor its marketing strategies to effectively
reach and engage its potential customers, offering customized packages that meet their specific
needs and preferences.

2.6 Marketing Plan

Marketing Mix

Our four P's of marketing mix includes product, price, promotion and place.

a. Product mix

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Variety: In present, we are offering three fundamental items that are painting expertise, portrait
and art teachers while also offering customized merchandise. With the passage of time we will
enrich our portfolio by initiating diverse service.

Quality: The quality of the service will be superior. We carefully select our painters and teachers
who help us make sure superior quality. They use advanced equipment and technology to ensure
that their painting and portrait is processed effectively and safely. It employs a team of
experienced quality control professionals who carefully monitor every step of the production
process.

b. Price mix

Variable Price: Ronger Sojja will be available at any price depending upon the service
provided. The price of the portrait will be given with the product on a price tag .i.e. is there is no
bargaining, sold in fixed price.

c. Promotion mix

Advertising: Advertisements will be given by local newspapers, distribution of pamphlets,

internet influencer and through word-of-mouth awareness.

Types Total Cost(Tk)

Newspaper 150,000
Internet Influencer 100,000
Instagram Philosophers 100,000
Billboard in important place 350,000
Banner for stationary shop 250,000
Social Media 150,000

Direct market: Our service will be provided through a digital app that anyone can install in
android play store and apple I store. Our clients can pay from all online transaction platforms
like Bkash, Nagad, and Rocket etc. We hope we can develop our own website through we can
provide our service widely.

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d. Place mix

Channels: We will directly provide the service all over Dhaka and in future we will expand our
business. We have 4 sales people who will be responsible for building relationships with
potential clients, promoting the brand, and increasing sales.

2.7 Design and Development

Starting a service-based business involves careful planning and consideration of several factors.

Projected Development Cost

Projected development costs can vary widely depending on the nature of the service business,
but here are typical expense categories to consider:

Market Research Tk.100,000 – 500,000

Business Registration and Legal Fees Tk.50,000 – 300,000
Office Space (if needed) Tk.50,000 – 200,000

Technology and Software Tk. 200,000 – 1,000,000 (initial setup)

Website and Marketing Materials Tk.200,000 – 700,000
Staffing Costs Tk. 300,000 – 1,000,000
Licensing and insurance Tk. 100,000 – 300,000 annually

Operational Costs Tk. 200,000 – 500,000/month

Proprietary Issues:

Brand Name: Registering our brand name Ronger Sojjaa to protect it from being used by others.
A brand name, also known as a trade name, is a moniker (typically a proper noun) that a
company or organization gives to a certain product or service.

19
Logo: Protecting visual and textual elements associated with your brand.

Business License: Required to legally operate in your city/state. We would collect trade license
from Dhaka South City Corporation through proper manner. It would give us one year right to do
legal operation.

2.8 Management Team

Constructing a perfect management team for a fresh company requires consolidating individuals
with heterogeneous skill, they are diverse in terms of their abilities and experiences rather than
homogeneous, their areas of expertise are very similar to one another which generally help that
connect with company’s strategic goals and operational and other necessities. A blueprint for
constructing such a team is mentioned below:

❖ Chief Executive Officer (CEO): Pear Mohammad Shaym. He will provide overall
direction, leadership and make strategic decision for the company and ensures all by
connecting with the company’s goal.
❖ Chief Financing Officer (CFO): Jarin Rahman. She will manage financials of the
company including budgeting, valuing, forecasting, and reporting. Besides she will also
provide financial insights by connecting with company’s goal that support decision-
making by working closely with the CEO of the company for making financially
sustainable the company.

20
 ❖ Marketing Officer: Sakib Hossen. To attract and retain customer he will develop and
execute marketing strategies including advertising, branding and customer
communication connecting with company’s strategic goals.
❖ Technology Officer: Amrin Islam. She will investigate innovation and technological
infrastructure of the company including developing and implementing technological
strategies related to business strategic goals.
❖ Customer Officer and HR Manager: Tanmoy Chowdhury Biplob. He will focus on
gathering customers’ needs, understanding, and fulfilling those needs which leads to
ultimate high level of satisfactions and loyalty. Besides by recruiting and ensuring to
provide best possible painting teachers.
❖ Strategy Officer: Faisal Salim Khan. He will develop long-term strategic plans and
identifies growth opportunities for the company by evaluating different market trends and
competitive forces.
❖ Operational Officer: Chaiti Paul. She will focus on managing day to day operations
with internal processes by ensuring efficient and smooth activities/operations and
services.

2.9 Operational Plan

As “Ronger Sojjaa” will basically be an app-based platform which will provide –

• Expert painters with sophisticated painting skill for clients who are willing to decorate
their restaurants, shops, cafes, offices, residential, transports, educational institutions, and
public sectors,
• Expert painters as teachers for children or student who are willing to learn painting,
• Platform to display paintings or portraits of individuals for sale.

So, to ensure effective, efficient, and smooth service we should develop a robust operation plan.
This is described below:

App Development and Maintenance: At first, we will hire an app development team or agency
to develop and design the app. This app will contain some amazing features that will include
interface design that will be easy to use visually appealing, user registration, login, profile

21
creation, search functionality, booking system, messaging and payment option, rating system on
expertise, location and their availability and reviews and feedback option. We will make sure of
maintaining and update to fix the bug related problems and add new features based on demand so
that we can improve overall performance. Besides we will try our best to stay informed and
updated about feedback, demand based on technological advancement.

Painter and Teacher Assimilating: There will be a registration form including profile
verification that will allow people as painters and painting teachers in which firstly they sign for
accounts in this app. There will be comprehensive profile for painters where they mention their
skill, qualification, experience, portfolio, availability, their location, pricing. Painters who join as
a teacher will also have profile by including these besides; they will provide resources and
guidelines for creating compelling profile and attracting clients.

Client Assimilating and Inclination: In this case, we will try our best as possible as simplifying
the sign-up process for clients and so that they will enable to easily create accounts and profiles.
We will provide scope for personal recommendation based on their requirements, choices, and
preferences. There will also be available tools to communicate and connect clients with painters
and teachers where they can ask questions, request lessons. Besides clients can hire painters as
teachers based on their requirements about their time, location and they can also negotiate about
their payments through our app.

Symmetric Theorem and Communication Tools: We construct such system or theorem that
will be symmetric to customers with their preferable painters based on their requirements,
preferences, and availability. This will continuously develop so that it will enhance accuracy and
customer satisfaction. Besides, we will provide such efficient and effective messaging and
communication system so that clients and painters can interact smoothly by ensuring best
possible privacy and security with maintaining accountability and transparency.

Service Management: Here we construct such dashboard where it will be mentioned when for
painters so that they can manage their schedules, bookings, and payments.

Marketing and Promotional Strategies: We will construct such a widespread marketing

strategy so that painters and teachers will attract in that platform. At first, we will use social

22
media campaign like Facebook, Instagram and Linked In to emphasize the advantages,
practicality and affordability of our service, share updates as well as encourage and rewards
people for sharing their insights. Besides will advertise in local newspaper, magazines as well as
we will also deliver cards in residential or restaurants where our target clients reside. We will
also provide discounts for both who refer for our app and new client those come from that
referral. We will also use Google Ads or Facebook Ads as online advertisements. We will create
partnership with independent painters and local contractors so that they provide service through
our app. There will be the scope of premium membership for painters for which they can get
advantages from this like their profiles will be shown at peak. We will organize various art
related workshops and event which will be advantageous for painters. We will present a road
show of our service and will provide giveaways. Besides we give scopes for providing
advertisements of their portraits. Besides there will be free trialing system from painters’ side as
they would be sophisticated and expert in their skills, they will show their demo activities in their
profile which they would have worked different sector like residential, public sectors,
restaurants, educational institutions.

Payment and Transaction Management: We will develop secure payment gateway that will be
reliable and secure so that we can handle transactions. Through our app clients can select
painters and teachers according to their preferences. Then they will pay including commission
through our app from which we charge commission and then we give the remuneration to
painters by ensuring fairly compensation to painters and teachers. We keep some payment
options such as Bkash, Nagad, Debit Cards, Visa, Master Cards and direct bank transfer for
larger transactions. Some amount will have to be paid before works and some can be paid after
works as clients. We will ensure best possible security for protecting customers’ data and
transactions. We will use SSL encryption to protect data transmission between clients and
painters. And we will make sure that our app will be PCI DSS compliant. For extra security we
will implement Two-Factor Authentication. We will provide digital receipts for transactions and
notifications for payment authorization and job completion.

Customer Support and User Experience: For customer support we will ensure by providing
various support channels such as App Chat support, Email support, phone support for handling
urgent issues, social media support for assisting users for their queries and issues. Besides we use

23
FAQ (Frequently Asked Questions) in app for their any queries. People can communicate by
24/7 hours. There will also be AI Chatbots which provide instant responses and deal with basic
queries.

Performance Monitoring and Analytics: We will analysis performance by some matrix like
numbers of signing up and growth rate of new users, frequency of use, booking numbers, repeat
bookings by same customers, number of average response time, and completion rate of service,
revenue, subscription fees and commission earned. We will schedule daily, weekly, and monthly
reports to review performance. We will collect customer feedback, reviews, and ratings on app to
gather how satisfied they are by using our app. We will also oversee our operating expenses and
revenue streams so that we able to know is it working or people like our app what we would
expect. Besides we oversee sustainability based on our profit margin. We gather reviews and
performances, ratings, feedback so that we adjust customers’ expectation on our app.

2.10 Financial Plan

The financial plan shows Ronger Sojjaa's anticipated four-year financial performance. It offers a
thorough summary of our projected financial health and sustainability and contains specific
estimates on income production, cost structures, and funding needs. This strategy acts as a road
map for accomplishing our goals as a company and making sure we have the resources needed to
sustain our expansion. The goal of the financial plan is to give a clear understanding of Ronger
Sojjaa's financial viability by showing how we will efficiently use our resources and satisfy our
stakeholders.

Assumptions:
Forecasting financial statements require careful and reasonable estimates depicting how the
venture may perform in the future. Certain assumptions have been incorporated while describing
the financial plan and its components. These are presented below:

1. The business will run as per the “Going Concern Principle”. Hence, there would not be
any definite time period for ceasing its operation.

24
2. The business is largely on service based earning revenues from charging commission.
Alongside, the venture is also involved in production of merchandise items.
3. The main source of revenue will come from commission from painting services, art
workplace, art teacher hiring. The additional source of revenue will come from
merchandise sales, advertisement shown on website and app, premium membership and
workshops.
4. The revenue profile is created based on optimistic and pessimistic approach. The expense
profile is forecasted based on yearly increment/decrement.
5. General, Administrative & Selling expenses include salaries & wages, rent, utilities &
supplies. SG&A as a percentage of total revenue ranges from 17% to 34% in the
projected 4 years.
6. Salaries & wages will increase at a rate of 5% each forecasted year
Rent will increase at a rate of 2% each forecasted year
Utilities & supplies will increase at a rate of 5% each forecasted year.
7. Cost of Goods Sold (COGS) is assumed to be 60% of merchandise sales.
8. Advertising expense, promotional events & materials, Research & Development
constitute 40% to 60% of total operating expense.
9. Depreciation & Amortization is calculated according to straight line method.
10. The tax rate applicable on net profit before tax is 27.5%.
11. Account receivables are forecasted between 10% and 30% of total revenue.
12. Inventory is assumed to be 30% of merchandise sales.
13. Account payables is assumed to be ranging from 10% to 15% of total expense
14. Investment in Plant, Properties & Equipment is expected to be in the range of 2% to 4%.
15. The intangible assets include website and app development, trademark and license.
16. Long term commercial loan of 600000 BDT is taken for 5 years at 12.5% interest.
17. Short term loan of 50000 BDT has an interest rate of 13.5% payable in 1 year.
18. The loan repayment system of the firm follows an equal installment process.
19. Beta is assumed to be 1.4
20. Terminal growth rate is assumed to be 4%
21. Total number of shares outstanding is 106565 at 10 Taka per share.
22. Discounted Cash Flow (DCF) method is used for the valuation of venture.

25
Forecasted Financial Statements
Financial statements comprise three components that have been projected. These are the
Statement of Cash Flows, the Balance Sheet, and the Income Statement. The forecasting has
been done using several assumptions and a detailed examination of the market and customer
segment, revenue, and expense profile. After the completion of forecasting, valuation is
conducted using Discounted Cash Flow (DCF) method.

1. Pro Forma Income Statement

The pro forma income statement for Ronger Sojjaa includes specifics about our projected
financial performance over the following four years. The profitability of the business is indicated
by operational profit (EBIT). This pro forma statement helps with financing acquisition, financial
success forecasting, and strategy planning.

Projected
Particulars
2024 2025 2026 2027
Revenue
Commission
Painting Services 1116000 1227600 1350360 1485396
Art Marketplace 202500 243000 291600 364500
Art Teacher Hiring 828000 952200 1142640 1428300
Additionals
Incomes from Advertisements on
Websites 360000 360000 420000 420000
Merchandise Sales 600000 900000 1512000 2721600
Premium Membership 125000 187500 281250 421875
Workshops 240000 300000 525000 945000
Total Revenue 3471500 4170300 5522850 7786671
Expenses
Cost of Goods Sold (Merchandise) 360000 540000 907200 1632960
Operating Expenses
Selling, General & Administrative
Expenses
Salaries and Wages 850000 892500 937125 983981
Rent 250000 255000 260100 265302
Utilities and Supplies 100000 105000 110250 115763

26
 Website, Social Media and App
Maintenance 100000 103000 106605 110869
Workshop Cost 120000 124800 130416 136937
Insurance Expense 60000 61200 63036 65557
Advertising Expenses 500000 650000 845000 1098500
Promotional Events & Materials 200000 250000 312500 390625
Research & Development 500000 650000 845000 1098500
Domain Registration & Renewal 5000 5000 5000 5000
Depreciation & Amortization 139000 149000 167000 198200
Total Operating Expense 2824000 3245500 3782032 4469234
Operating Profit 287500 384800 833618 1684477
Non-Operating Revenues and
Expenses
Interest Expense 81750 63311 50161 35367
Net Profit Before Tax 205750 321489 783457 1649110
Tax (27.5%) 56581 88409 215451 453505
Net Profit 149169 233080 568006 1195605

2. Pro Forma Balance Sheet

Ronger Sojjaa's pro forma balance sheet provides a thorough forecast of the company's financial
situation for the ensuing years. It is divided into three main sections: shareholders' equity,
liabilities, and assets.. Share capital, or the money raised via the issuance of shares to investors,
is included in this section. Equity also includes retained earnings, which are the total net income
held within the company rather being paid out as dividends. In order to account for excess
money set aside for particular uses or revalued asset values, general reserves and revaluation
reserves may be added.

Projected
Particulars
2024 2025 2026 2027
Total Assets
Non-Current Asset
Plant Properties & Equipment 500000 600000 780000 1092000
Less: Depreciation 50000 60000 78000 109200
Net 450000 540000 702000 982800
Intangible Asset
Website & App Development 800000 800000 800000 800000

27
 Less: Amortization 80000 80000 80000 80000
Net 720000 720000 720000 720000
Trademark 50000 50000 50000 50000
Less: Amortization 5000 5000 5000 5000
Net 45000 45000 45000 45000
License 20000 20000 20000 20000
Less: Amortization 4000 4000 4000 4000
Net 16000 16000 16000 16000
Current Asset
Inventory 150000 270000 604800 1360800
Accounts Receivable 347150 625545 1104570 2336001
Cash and Equivalents 295106 335506 616582 1090627
Total Assets 2023256 2552051 3808952 6551228

Liabilities & Shareholders'

Equity
Non-Current Liabilities
Loan from Commercial Bank 600000 506487 494798 481648
Current Liabilities
Accounts Payable 100000 375327 552285 1168001
Short Term Loan 50000 0 0 0
Provision for Income Tax 58438 83339 206764 440750
Shareholders' Equity
Share Capital 1065650 1065650 1165650 1315650
Retained Earnings 149169 233080 568006 1195605
Reserve & Surplus 288169 821448 1949575

Total Liabilities & Shareholders'

Equity 2023256 2552051 3808952 6551228

3. Pro Forma Cash Flow Statement

A summary of Ronger Sojjaa's cash inflows and outflows during a certain time period may be
found in the cash flow statement. Operating activities, investing activities, and financing
activities make up its three components. This statement aids in evaluating the company's cash
flow, financial stability, and capacity to pay debts and support expansion.

Projected
Particulars
2024 2025 2026 2027
Cash Flows from Operating Activities
Net Income 149169 233080 568006 1195605

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Add/Subtract items that affect net income and
cash flow differently
Depreciation 50000 60000 78000 109200
Amortization 89000 89000 89000 89000
-
Increase in Accounts Receivables -347150 -278395 -479025 1231431
Increase in Inventory -150000 -120000 -183600 -362880
Increase in Accounts Payable 100000 275327 176958 615716
Increase in Provision for Income Tax 58437 24901 123425 233986
Net Cash from Operating Activities -50544 283913 372764 649195
Cash Flows from Investing Activities
Purchase of PPE -500000 -100000 -180000 -312000
Investment in Website and App Development -800000
Investment in Trademark -50000
Investment in License -20000
Net Cash from Investing Activities -1370000 -100000 -180000 -312000
Cash Flows from Financing Activities
Loan from Commercial Bank 600000
Repayment of Loan -143512 -11689 -13150
Short Term Loan 50000
Share Capital 1065650 100000 150000
Net Cash from Financing Activities 1715650 -143512 88310.95 136849.8
Net Increase in Cash Flow 295106 40400 281075 474045
Opening Balance 295106 335506 616582
Ending Balance 295106 335506 616582 1090627

Break Even Analysis

Year 2024 2025 2026 2027

Time 0 1 2 3 4
Investment -1370000
FCF 2018 229953 229241 362914
Cumulative FCF 2018 231971 461212 824126
Cumulative NCF -1370000 -1367982 -1138029 -908788 -545874
Payback Period It can take more than 4 years but less than 6 years approximately

Required Rate of Return 8.20%

Discounted FCF 1865 196419 180972 264786
Cumulative Discounted FCF 1865 198284 379256 644042
Cumulative NCF -1370000 -1368135 -1171716 -990744 -725958
Discounted PBP It can take more than 4 years but less than 7 years approximately

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Ratio Analysis

Projected Ratios
Ratios
2024 2025 2026 2027
Liquidity Ratio
Current Ratio 3.80 2.68 3.06 2.98
Acid-test Ratio 3.08 2.10 2.27 2.13
Cash Ratio 1.42 0.73 0.81 0.68

Leverage Ratio
Debt to Asset Ratio 0.32 0.20 0.13 0.07
Debt to Equity Ratio 0.54 0.32 0.19 0.11

Efficiency Ratio
Asset Turnover Ratio 1.82 1.74 1.50
Inventory Turnover Ratio 19.86 12.63 7.92

Profitability Ratio
Operating Margin 8.28% 9.23% 15.09% 21.63%
Net Profit Margin 4.30% 5.59% 10.28% 15.35%
Return on Asset Ratio 7.37% 9.13% 14.91% 18.25%
Return on Equity Ratio 12.28% 14.69% 22.23% 26.80%

Growth Rate
Sales Growth Rate 20.13% 32.43% 40.99%
Operating Profit Growth Rate 33.84% 116.64% 102.07%
Net Profit Growth Rate 56.25% 143.70% 110.49%

Account payable Turnover 2.27 1.96 1.90

Days Payable Outstanding 161 187 192
Account Receivable Turnover 8.57 6.38 4.53
Days Receivable Outstanding 43 57 81

DCF Valuation

Forecasted Period
FCFF Valuation
2024 2025 2026 2027
Net Cash from Operating Activities -50544 283913 372764 649195
Add: After Tax Interest Expense 52562 46040 36477 25719
Less: Capital Expenditure -1370000 -100000 -180000 -312000
FCFF -1367982 229953 229241 362914

30
Terminal Value 8986441
Time 1 2 3 4
PV of FCFF -1264309 196419 180972 264786
PV of Terminal Value 6556600
Enterprise Value 5934468
Add: Cash & Cash Equivalents 295106
Less: Debt 650000
Equity Value 5579574
No. of Shares Outstanding 106565
Equity Value Per Share (BDT) 52

The equity value of the venture is calculated at 5579574 and the equity value per share is 52
Taka.

Conclusion
The thorough financial plan of Ronger Sojjaa includes specific forecasts and tactics to guarantee
profitability and long-term growth. Pro forma income statement revenue forecasts include
commissions from art marketplaces, hiring fees for art teachers, painting services, advertising,
retail sales, premium memberships, and workshops. Through the inclusion of operating expenses
such as rent, utilities, payroll, advertising, R&D, and depreciation, the statement presents a
comprehensive picture of the profitability and operational efficiency of the business. Ronger
Sojjaa's financial situation is shown in a pro forma balance sheet that breaks down his assets into
current and non-current categories and lists his liabilities and shareholders' equity. It emphasizes
how the business can effectively manage its resources, fulfill its commitments, and draw in
investors with a sound financial framework. The cash inflows and outflows—which are crucial
for preserving liquidity and meeting operating requirements—are shown in the cash flow
statement. It is broken down into sections that represent the company's financing, investment,
and operating activities as well as how cash is produced and used. These financial accounts work
together to provide Ronger Sojjaa with a strong framework for strategic planning that will help
him obtain capital, control expansion, and guarantee long-term success. Ronger Sojjaa's financial
performance is improved, resource allocation is optimized, and decision-making is guided by the
full financial insights and detailed projections, setting him up for success in the painting and art
services sector.

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2.11 Overall Schedule
Developing an intermediary platform like "Ronger Sojjaa" requires a comprehensive and detailed
approach. Below is an overall schedule that outlines the steps necessary to bring this idea to
fruition, including feasibility analysis, market research, and more. Each phase includes the main
tasks to be accomplished and an estimated timeline.

Phase 1: Feasibility Analysis (1-2 months)

1. Idea Validation

- Conduct preliminary research to validate the business idea.

- Gather feedback from potential customers and stakeholders.
- Identify initial strengths, weaknesses, opportunities, and threats (SWOT analysis).

2. Market Research and Analysis

Target Market Identification:

- Define target customers (households, offices, cafes, etc.).

Market Size and Demand Analysis:

- Estimate the size of the market for painters, portraitists, and art teachers.
- Identify growth trends and potential demand.

Competitive Analysis:

➢ Analyze direct and indirect competitors.

➢ Identify competitive advantages and differentiators.
➢ Analyze competitors and market trends in the painting, portrait, and art education
industries.
➢ Determine pricing strategies and commission rates based on market analysis.

Phase 2: Business Planning (2-3 months)

32
1. Industry Analysis

- Examine industry trends and future outlook.

- Identify regulatory and compliance requirements.

2. Company Analysis

- Define the company’s vision, mission, and values.

- Develop a business model and revenue streams.

3. Management Team

➢ Identify key roles needed for the management team, such as CEO, CTO, CFO, and
marketing manager.
➢ Recruit experienced professionals with backgrounds in technology, finance, marketing,
and operations.
➢ Develop a cohesive management structure and communication plan.

4. Financial Projections and Valuation

➢ Develop detailed financial projections (income statement, balance sheet, cash flow
statement) for the next 3-5 years.
➢ Estimate revenue streams, expenses, profitability, cash flow projections for the first few
years of operation.
➢ Conduct a valuation of the business to determine its potential worth.
➢ Consider factors such as projected earnings, growth potential, and comparable industry
benchmarks.

Phase 3: Financing Plan (1-2 months)

1. Funding Requirements

- Determine the amount of capital needed to launch and sustain the business.

2. Funding Sources

- Identify potential sources of funding (angel investors, venture capital, loans, and grants).

33
 - Prepare pitch decks and business plans for potential investors.

Phase 4: Marketing Plan (2-3 months)

1. Brand Development

➢ Create brand identity (name, logo, and tagline).

➢ Develop brand guidelines and messaging.

2. Marketing Strategy

➢ Define marketing objectives and strategies (digital marketing, partnerships, and events).
➢ Set specific goals and metrics for measuring the success of marketing efforts.
➢ Identify target demographics and tailor marketing messages accordingly.
➢ Plan marketing campaigns and promotional activities.
➢ Determine the most effective marketing channels, such as digital advertising, social
media, content marketing, and partnerships.

3. Customer Acquisition

➢ Develop a customer acquisition plan focusing on online and offline channels.

➢ Implement a referral program to encourage word-of-mouth marketing.
➢ Develop a comprehensive marketing plan outlining strategies for customer acquisition
and retention.

Phase 5: Operational Plan (2-3 months)

• Outline the day-to-day operations of the platform, including customer service, artist
management, and transaction processing.
• Develop standard operating procedures (SOPs) for various aspects of the business, such
as on boarding artists, handling customer inquiries, and resolving disputes.
• Establish key performance indicators (KPIs) to monitor operational efficiency and
effectiveness.
• Implement systems and tools to streamline operations and improve scalability.

34
1. Platform Development

• Technical Development:
- Design and develop the platform (website and mobile app) focusing on creating user-
friendly interfaces and robust functionality.
- Ensure user-friendly interface and seamless user experience.
- Work closely with the development team to ensure that the platform meets the
requirements outlined in the feasibility analysis and operational plan.
• Backend Infrastructure:
- Set up server, database, and security measures.
• Quality Assurance:
- Test the platform for bugs and usability issues to identify and resolve any technical
issues.
- Conduct beta testing with a small group of users to refine the user experience and
optimize performance.

2. Logistics and Operations

- Develop operational workflows for painter hiring, portrait sales, and art teacher services.

- Establish customer support and service processes.

3. Artist On boarding

• Launch targeted campaigns to recruit artists and build a diverse portfolio of talent on the
platform.
• Reach out to semi-professional and professional painters to join the platform.
• Create artist profiles showcasing their work and expertise.
• Initiate marketing efforts to attract customers and generate interest in the platform's
services.
• Provide training on platform usage and transaction procedures support to artists to help
them optimize their profiles and succeed on the platform.

35
 • Implement promotional offers or incentives to encourage early adoption and engagement
from both artists and customers.

Phase 6: Design and Development Plan (2-3 months)

1. Platform Features

- Define key features and functionalities (search, booking, payment, reviews).

- Develop a detailed product roadmap.

2. User Experience (UX) Design

- Create wireframes and prototypes.

- Conduct user testing and iterate based on feedback.

3. Development and Integration

- Develop the frontend and backend of the platform.

- Integrate necessary third-party services (payment gateways, analytics).
- Implement secure payment gateways and communication channels.

Phase 7: Launch and Post-Launch (1-2 months)

Officially launch the platform to the public, Monitor platform performance closely during the
initial phase of operations

1. Soft Launch

- Launch the platform to a limited audience accompanied by a comprehensive marketing

campaign to generate buzz and drive traffic.
- Gather user feedback and make necessary improvements and iterate on the platform
based on their input.

2. Full Launch

Implement full-scale marketing campaigns.

36
 - Monitor platform performance and user engagement, addressing any technical issues or
customer concerns promptly.
- Ramp up customer support and operational capacity as needed to accommodate increased
demand.

3. Post-Launch Analysis

- Analyze user data and feedback.

- Continuously improve the platform based on user needs and market trends.

Phase-8: Continuous Improvement and Scaling (Ongoing)

1. Customer Feedback

➢ Regularly collect and analyze customer feedback.

➢ Implement changes to enhance user experience.
➢ Continuously monitor key metrics and performance indicators to identify areas for
improvement and optimization.

2. Feature Enhancements

➢ Regularly update the platform with new features, enhancements, and content to keep
users engaged and satisfied.
➢ Foster a culture of innovation and adaptability within the organization to stay ahead of
competitors and capitalize on emerging opportunities.
➢ Stay updated with the latest technology trends.

3. Market Expansion

➢ Explore opportunities to expand into new markets and regions, verticals based on market
trends and customer feedback.
➢ Adapt the platform to cater to diverse customer needs.
➢ Explore partnerships with relevant businesses or organizations to increase visibility and
reach.

37
4. Evaluation and Adjustment (Quarterly):

➢ Review financial performance and commission structures to ensure profitability.

➢ Assess customer and artist satisfaction levels and make improvements as needed.
➢ Stay updated on industry developments and adapts strategies accordingly.

By following this timeline, you can systematically build and grow your intermediary platform
while maximizing its potential for success.

Estimated Timeline Overview:

Phase Activities Timeline

Phase-1 Feasibility Analysis 1-2 months
Phase -2 Industry Analysis 2-3 months
Phase -3 Company Analysis 2-3 months
Phase -4 Financial Projections & Valuation 2-3 months
Phase -5 Marketing Plan 2-3 months
Phase -6 Operational Plan 2-3 months
Phase -7 Artist Onboarding 2-3 months
Phase -8 Design and Development Plan 2-3 months
Phase -9 Launch and post-launch 1-2 months
Phase-10 Continuous Adjustment and Scaling Ongoing

This detailed schedule provides a comprehensive roadmap for launching and growing your
intermediary platform while ensuring thorough planning and execution at every stage of the
process.

Overall, the project is estimated to take around 12-18 months from idea to full launch. This
timeline is flexible and can be adjusted based on the specific needs and progress of each phase.

38
Appendix

Revenue Profile

Projected
Particulars 2024 2025 2026 2027
Pessimistic Optimistic Pessimistic Optimistic Pessimistic Optimistic Pessimistic Optimistic
1. Painting Services
Customers Per Month 50 150 55 165 61 182 67 200
On Average Customers Per Month 100 110 121 133
Customers Per Year 600 1800 660 1980 726 2178 798.6 2395.8
On Average Customers Per Year 1200 1320 1452 1597.2
Price Range (BDT) 2000 15000 2000 15000 2000 18000 2000 18000
Total Transaction Amount 7440000 8184000 9002400 9902640
Commission Rate (15%) 1116000 1227600 1350360 1485396
2. Art Marketplace
Customers Per Month 25 75 30 90 38 113 49 146
On Average Customers Per Month 50 60 75 98
Customers Per Year 300 900 360 1080 450 1350 585 1755
On Average Customers Per Year 600 720 900 1170
Price Range (BDT) 500 10000 500 10000 500 15000 500 20000
Total Transaction Amount 1350000 1620000 1944000 2430000
Commission Rate (15%) 202500 243000 291600 364500
3. Art Teacher Hiring
Customers Per Month 30 70 35 81 41 97 52 121
On Average Customers Per Month 50 58 69 86
Customers Per Year 360 840 414 966 496.8 1159.2 621 1449
On Average Customers Per Year 600 690 828 1035
Price Range (BDT) 3000 8000 3000 8000 4000 10000 4000 10000
Total Transaction Amount 2760000 3174000 3808800 4761000
Commission Rate (30%) 828000 952200 1142640 1428300
4. Premium Membership
Customers Per Year 125 375 188 563 281 844 422 1266
On Average Customers Per Year 250 375 563 844
Membership Premium (BDT) 500 500 500 500
Total 125000 187500 281250 421875
5. Workshops
Workshop Per Month 1 1 1 1
Workshop Per Year 12 12 12 12
Attendees Per Event 100 300 125 375 175 525 263 788
On Average Attendees Per Event 200 250 350 525

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Ticket Price 100 100 125 150
Total Amount 240000 300000 525000 945000
6. Merchandise Sale
Merchandise Sold Per Month 50 150 63 188 88 263 131 394
On Average Merchandise Sold Per Month 100 125 175 262.5
Merchandise Sold Per Year 600 1800 750 2250 1050 3150 1575 4725
On Average Merchandise Sold Per Year 1200 1500 2100 3150
Price Range (BDT) 250 750 300 900 360 1080 432 1296
Average Price 500 600 720 864
Total Amount 600000 900000 1512000 2721600
7. Advertisement
Advertisement Slot Available in a Month 10 10 10 10
Advertisement Slot Available in a Year 120 120 120 120
Per Advertisement Income 3000 3000 3500 3500
Total Amount 360000 360000 420000 420000

Total Revenue 3471500 4170300 5522850 7786671

Sales Growth (%) 20 32 41

Expense Profile

Projected
Particulars
2024 2025 2026 2027
Merchandise Sales 600000 900000 1512000 2721600
COGS (60%) 360000 540000 907200 1632960
Operating Expenses
Selling, General & Administrative
Expenses
Salaries and Wages 850000 892500 937125 983981
Rent 250000 255000 260100 265302
Utilities and Supplies 100000 105000 110250 115763
Website, Social Media and App Maintenance 100000 103000 106605 110869
Workshop Cost 120000 124800 130416 136937
Insurance Expense 60000 61200 63036 65557
Advertising Expenses 500000 650000 845000 1098500
Promotional Events & Materials 200000 250000 312500 390625
Research & Development 500000 650000 845000 1098500
Domain Registration & Renewal 5000 5000 5000 5000

Growth Rates
Salaries and Wages 5% 5% 5%

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Rent 2% 2% 2%
Utilities and Supplies 5% 5% 5%
Website, Social Media and App Maintenance 3% 3.5% 4%
Workshop Cost 4% 4.5% 5%
Insurance Expense 2% 3% 4%
Advertising Expenses 30% 30% 30%
Promotional Events & Materials 25% 25% 25%
Research & Development 30% 30% 30%
Domain Registration & Renewal 0% 0% 0%
Depreciation & Amortization 20% 30% 40%

Loan Scheduling

Particulars Balance
Long Term Loan 600000
Interest Rate 12.5%
Term (In Years) 5
Intallment 168512

Beginning Principal Ending

Period Balance Installment Interest Repayment Balance
1 600000 168512 75000 93512 506488
2 506488 168512 63311 105201 401286
3 401286 168512 50161 118352 282934
4 282934 168512 35367 133146 149789
5 149789 168512 18724 149789 0

WACC

After Tax Cost of Debt

Particulars Year 2024 Year 2025
Short Term Loan 50000
Long Term Loan 600000 506487
Total Loan 650000 506487
Average Loan 578243
Interest Expense 81750 63311
Average Interest Expense 72530
Interest Rate (Cost of Debt Before Tax) 12.54%
Effective Tax Rate 27.50%

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After Tax Cost of Debt 9.09%

Cost of Equity
Market Return Daily (last 6 years) 0.00021
Market Return Yearly 7.65%
Beta (Assumed) 1.4
Risk Free Rate (T-bond Rate) 7.57%
Cost of Equity 7.68%

WACC
Number of Shares Outstanding (10 Taka Per Share) 106565
Value of Equity 1065650
Value of Debt 625000
Value of Firm 1690650
Weight of Equity 63%
Weight of Debt 37%
Cost of Capital 8.20%

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