Executive Summary
- Description of business : Goat, beef or chicken is available in most restaurants in Bangladesh. But pigeon and quail meat is available in very few hotels. So I want to set up a hotel in the Jhenaidah town.
- The market and Product : The demand for pigeon and quail meat is increasing day by day because of the benefits of pigeon and quail meat such as: helps to reduce blood pressure, control blood sugar levels, increase immunity, remove free radicals, prevent skin diseases etc.
- Loan repayments and dues : We need around Rs 15 lakhs taka to start the business. I hope the money can be borrowed from the bank for a fixed term or from a business partner. And if it is available from the partner then he will be given a share from the hotel’s dividend and he will get the dividend without any effort. And if it is not available then he will have to take a loan from the bank for a specified period. I will gradually repay the loans from the money that will be gained every month.
- Assistant requirements: I need several assistants and they must be trustworthy. Otherwise I cannot profit from the business. And people with previous hotel work experience can be hired as assistants. However, assistants cannot be taken more than necessary. Because if more than necessary assistants are taken, the hotel will face loss and their work will be monitored and controlled by CC TV cameras.
- Marketing and Sales: Since we are going to start working with a new type of product, we have to take several steps to inform the general public. For example: Mikeing can be done for the first 2 days, along with this some posters should be put up in front of the hotel and in front of the main roads of the city and some famous people of Jhenaidah district should be invited. We can create a channel ourselves to let people know about our hotel’s dining options. Besides, if possible, we can advertise on local TV channels and describe the good aspects of these foods to the people.
- Product sales strategy: Be available : We should always have food in our hotel and make sure that no customer turns away and treat them well. Keeping the promise : Good food should always be guaranteed and spoiled food should never be provided intentionally. Sustenance of growth : Care should be taken that the food is healthy . I think if we If I take the initiative to sell raw or cooked meat then the people of the country will benefit and also provide employment to some people.
Business Description
As we want to work in Jhenaidah district first, we will employ some people in different places of Jhenaidah district who will collect pigeons or quail chicks from villages or towns and bring them to our hotel or we can buy them from local bazaars and to our hotel.
First of all 2 cooks will be appointed and some staff who will control the hotel and some will deliver the food to different places of Jhenaidah district through online. Also the hotel will be controlled by cc tv cameras round the clock. A cashier who will maintain all the accounts of the hotel. A manager will look after the hotel round the clock.
Marketing
Market analysis : Before starting the business, we must know what kind of demand there is. If we set up the hotel in a place, it will be convenient for people to come, what kind of price the products are being sold in the market, also what age people can work more i.e. whether they are between 25-55. Also the establishment The information that can survive in the future must also be analyzed. Along with this, what is the desire of the organization and whether it is possible to fulfill the desire of the organization.
Demand of Market : There is a huge demand for pigeon and quail meat in Jhenaidah district. Many people look for pigeons and quails for their sick patients and for small children. Moreover, the meat of pigeons and quails is very tasty, so many people prefer to eat pigeons and quails. In the initial phase we will start our business operations on a small scale and then scale up the supply as per the demand.
Operations
Pigeon market is held every week in Jhenaidah district. Pigeon chicks are available for Tk 250 per pair and quail chicks are available for Tk 150 per pair. We can buy chicks from these markets or buy wholesale price from different pigeon or quail farms. We can cook the baby pigeon meats and sell them in bowls. 5 small bowls can be made from each pair of pigeons so that one bowl of curry can feed one person in one meal.
If I can sell the meat at 100 taka per bowl, I believe that I will make a profit of 200 taka even if I exclude other spices for cooking. In that case, I believe that I will have a profit of 150 taka even if I exclude 50 taka from other cooking spices. If I sell at least 50 pairs of chicks every day, then my profit from pigeons will be 200*50=10000 taka. Besides, if 20 pairs of quail chicks are sold, the profit is 150*20=3000 i.e. three thousand taka, then the monthly profit is 3000*30=90000 i.e. ninety thousand taka, i.e. the total profit from the hotel will be three lakh ninety thousand taka. Less can be more.
Financial Requirement and Financial plan
- Start up cost:I want to take a shop near the main market in Jhenaidah city so that people can come easily. In that case, if you want to buy a shop in the current market, you will have to pay 10 lakh taka as a deposit, and another 5 lakh taka will be spent for hotel table chairs or other furniture.. So initially 15 lakh taka will be required and then the remaining expenses will be spent from the dividend of the hotel.
- Fixed cost : Things that cost only once will not cost any more. Such as hotel table, chair, fan. We need about 5 lakh taka to purchase those things.
- Variable cost : Which items cost more in which month and which month is less. Such as the cost of purchasing goods. This cost are not fixed.
- Direct cost: About 10 workers, 1 accountent and 1 manager will be needed.
- Indirect cost: Cost is required to support the business like hotel rent, Electricity bill, service charge and so on.
- Working capital fund: Some cost is required everyday like.
- Hopefully the initial cost money can be borrowed from the bank for a fixed period or can be taken from a business partner. And if available from a partner then even better.
- In this case I will take care of the business myself. I am ready to use my time and talent.
- I hope I need one or two partners in this business who will finance me and they will be paid a certain amount of dividends.
Critical Risk and Way Out
- Competitive Threats: There are about 40 more hotels in our city. In this case, if I can increase the taste of the food and keep the hotel always clean, then people will be interested in coming to my hotel.
- Economic risk : We always keep some money in the bank so that we can take it from there in case of any kind of crisis.
- Employee Risk : Managing business operations properly if employees are not competent. So skilled employees must be appointed.
- Environmental Hazards : As the hotel is on the road, it can get dusty. So the food must be kept in a glass container.
- Risks of transport : Especially bad weather makes it difficult to get transport. In that case, the organization will arrange its own transportation.
Harvest Strategy
According to the operations , The total profit from the hotel will be three lakh ninety thousand taka.
From this money, if the salary of eight employees is 10000 then 10000 * 8 = 80000 for eight employees i.e. one hundred and twenty thousand, besides the salary of 2 maids is 15000 * 2 = 30000 and 10000 for hotel rent, salary of manager and accountant is 40000 and 30000 money
Therefore, total income = 390000 taka and total expenses = (80000 + 30000 + 70000 + 10000) = 190000. Therefore, excluding everything, the hotel has a profit of two lakh taka.
Future Plan
- I want to do a large scale pigeon and quail farm myself later. Buy as little as possible from outside. For example: garlic, onion, ginger, these are also on the land next to our farm, if we can produce these spices, then we can save a lot of expenses.
- In the future I will try to save 10 lakh taka every year. Than we want to try to make our hotel bigger in Jhenaidah and we want to add some more food like ducks of different grades like swans and ducks.
- After 10 to 12 years, If we get interest from the general public we will try to open a branch in Dhaka and how to make a multinational company in the future. I will try to work.
An Appendix
To set up a hotel there are certain government guidelines to be followed. For example:
Short title of hotel,with Minimum standard, Registration fee
Application for license, validity and renewal of license etc. will be done through legal means. And to form an advisory committee for the management of the hotel who will look after the compliance of the policy
To set up a hotel one has to follow some government guidelines and get government approvals besides talking to local businessmen. Work should be progressed with their opinion. It should be checked if there is any other ulterior motive of the original hotel owner.