Post on 08-Aug-2018
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8/22/2019 Business Plan-Life Easy-New Concepts
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LifeEasyPersonal Concierge - Service at your doorstep.
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AGENDA
The Concept Value Proposition Differentiation and Sustainability
Our ServicesThe Market Context Target Customers Market Potential
Industry AnalysisThe CompetitionMarketing StrategyOperations and Facilities
ManagementFinancial
Revenue Model Financing
Major AssumptionsRisks
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The Concept
Concept
LifeEasy is a unique concierge & errand fulfillmentservice. It is a perfect solution for busy executiveswho are pressed for time.
Objective
Change the face of utility and errand services inIndia by providing convenient access to people athigh quality, reasonable cost and at the right time
Electricity and Plumbing Job
Bill Payments
Travel Ticket Booking
Personal, gift and grocery shopping
Notary services
Gather and organize your tax documents for filing
General Labor Assistance for short duration
Laundry and Dry Cleaning Services
Packer and Mover Assistance
Household assistance for kitchen and cleaning
Event, meeting planning and coordination
Order and pick up tickets for special events, concerts.
Accompany the patient to the hospital
Vehicle Breakdown Assistance Service
Newspaper Subscription
Laundry and Dry Cleaning Services
Waiter at your home for service people, packaging
Chauffeur for short duration
Car Rental Assistance
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Differentiated Value Proposition
LifeEasy will provide a wide range of services for our customers.
A one stop shop for all the routine services.
Multiple channel to request services Web, call-centre, smart devices, SMS
The only limit to what we will do is the customer's imagination and the legality of the task.
Reliability
Quality
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Market Analysis
Segmentation: on usage volume
1.Corporate/Company: large corporate ,medium corporate and small corporate,
based on no of employee2. Individual: people who do theirconcierges work themselves
Target
1. Large corporate: above 1000employees & medium corporate:500- 1000 employees.
2. Individual customers
Positioning
On Time ,easily accessible varied
concierges services at your desk
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Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Corporations 7% 400 428 458 490 524 6.98%
Individuals 10% 3,000 3,300 3,630 3,993 4,392 10.00%
Total 9.66% 3,400 3,728 4,088 4,483 4,916 9.66%
Market Analysis growth
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Competition
CompetitorYellow pages listing individual
service providers
Individual service providers listedon sulekha.com, quickr.com etc
Companies in-house developed
concierges services
Exploitable
CharacteristicFragmented & limited services
difficult to reach
Fragmented & limited service,virtual hence less trustworthy
Less efficient and limited services,
not being core competency
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Marketing Strategy and Implementation
Competitive Advantage- Based on 2 factors:
Concentration on corporate/company clients- meeting their special needs like
flexibility, monthly billing, and the ability to handle a decent number oftransactions.
Investment in human capital- providing training and necessary skills to equipthe employees on roll to provide world class services to the clients. Ensuring
tie-ups with the best vendors for outsourcing jobs.
Sales Strategy
Use of cost benefit analysis to close the sale of a prospect.
Use of quantitative information to illustrate the value the company will derive.
For individuals, sales strategy will be internet based where they will seerange of services and place order directly.
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Marketing Strategy and Implementation
Comp Digital Media
Conventional media(Print &TV)
Mass email /SMS
Billboard advertising: Station and Malls
Word of Mouth promotion
Marketing Channel
Partially subsidized services for first 6 months
Free checkup of any additional utility service
20% off through snapdeal.comSales promotion
Our service staff are trained for sales pitch withincentive of 10% on each conversion.
Depend on our Web marketing channel: invest inhuman capital and sales force for corporate clients.
Sales Force
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Financial
First City coverage Second City Third City
First YearSecondYear Third Year
FourthYear Fifth Year
Marketing Cost (Expanding at 30%) 200000 260000 676000 878800 2284880
Salary of employees (5 emp*20000)@10% 100000 110000 242000 266200 585640
Conveyance Charges @10% 200000 220000 484000 532400 1171280
Website Creation 50000 0 0 0 0
Website Maintenance 0 5000 5500 6050 6655
Front Desk Setup Cost 50000 50000 50000
Operating Cost 600000 595000 1457500 1683450 4098455
Expected Market Share @20% 20.00% 24.00% 28.80% 34.56% 41.47%
Market Share in terms of Households 5000 6000 14400 17280 41472
Assuming we earn/household (INR) 250 275 302.5 332.75 366.025
Total Revenue each year 1250000 1650000 4356000 5749920 15179789
Profit Before Tax (PBT) 650000 1055000 2898500 4066470 11081334
Profit After Tax (INR) Tax @ 30% 455000 738500 2028950 2846529 7756933.7
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Challenges
Competition from local service providers in the nearby area.
Hiring of experts and efficient workers.
Integrity and honesty of workers in billing to customers.
Background verification of workers for the safety of households.
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