MGT 368 Final Business Plan Closet Park

MGT 368
Section 14
Date of Submission: 21 April, 2018
Business Plan
Closet Park
Submitted to Submitted by
Shabnin Rahman Shorna (Srs3) Md. Nur-Ul-Alam 1211005 030

Lecturer
Tasnim Nawer Angel 1210347042
Department of Management
School of Business and Economics Md.Talha Mohaimen Adittya 1421438030
North South University Musharrat Rahman Badhan 1411746030
Syed Asif Adnan 1320057030

21st April, 2018
Shabnin Rahman Shorna (SRS3)
Lecturer,
Department of Management,
North South University,
Bashundhara, Dhaka.
Subject: Submission of Business Plan on “Closet Park”
Dear Ma‟am,
We have completed our group report on the business plan of our start-up Closet Park as per
your instructions. We have tried our best to work on it sincerely and carefully. We have had a
remarkable experience by working on this project, which will prove useful in our future. We
managed to complete this task for the course MGT368.14 for the semester Spring 2018.
We would like to thank you for giving us this opportunity to experience and work on an
interesting project as such. Therefore, we have gathered valuable knowledge and experience by
working as a group under your supervision and successfully completed the course for this
semester. We hope this report serves its purpose and is in accordance to your guidelines.
Sincerely,
“Group – 5”
Tasnin Nawer Angel – 121 0347 042
Md. Talha Mohaimen Adittya – 142 1438 030
Musharrat Rahman Badhan – 141 1746 030
Md. Nur-Ul Alam – 121 1005 030

Syed Asif Adnan – 132 0057 030
EXECUTIVE SUMMARY
Closet Park is an online tailoring platform where consumers (female) can order their desired
clothing and get delivered right to their door step. The main service of the company is
providing “Tailoring all sort of female clothing”. As there are lots of categories of women
clothing‟s, we have segmented the whole women fashion wears into three main categories
which will have several categories, whose are: Ethnic Wear, Western and Custom made.
Furthermore, by providing this service there are five entrepreneurs established a start-up with
proper business structure. The service of Closet Park has greater demand among the woman
population in Bangladesh. Hence, this is creates a platform with more convenience and
greater efficiency for the context of country‟s women population. Moreover, to serve this
market Closet Park has robustly initiated their business with proper organizational structure
and efficient manufacturing process. An intention to create a sustainable relationship Closet
Park has also emphasized on its marketing plan and designing effective communication to
acquire their market share. The mission statement of the company is “to provide the trendy
designs that are either unavailable in Bangladesh Market or very much expensive for
majority of the consumer at a very affordable cost”. And the vision of the company is “to
place them as a sustainable leading position in the apparel industry by providing most
reliable and efficient service”. The core intention of “Closet Park” is to bring a revolutionary
service in the market which has and reliability and create a value for their customers. In
addition to by achieving their goals and objective they also encourage the young generation
to step forward to initiate their ideas and establish a business platform which can add value to
the society.
Contents
INTRODUCTION ........................................................................................................................................ 8
NAME AND ADDRESS OF THE BUSINESS ....................................................................................... 9
Name(s) and address(s) of the principal(s) ............................................................................................... 9
NATURE OF THE BUSINESS.............................................................................................................. 10
STATEMENT OF FINANCING NEED ................................................................................................ 10
STATEMENT OF CONFIDENTIALITY OF THE REPORT ............................................................... 11
THE BUSINESS MODEL CANVAS ........................................................................................................ 11
PRICING MODEL ................................................................................................................................. 14
SOCIAL GOAL: ..................................................................................................................................... 14
BUSINESS ENVIRONMENT ANALYSIS ............................................................................................... 15
INDUSTRY ANALYSIS........................................................................................................................ 15
ANALYSIS OF THE DOMESTIC BUSINESS ..................................................................................... 15
What new products have been introduced?............................................................................................. 16
CLOSET PARK BUSINESS OPERATION .......................................................................................... 16
Analysis of the competitors: ................................................................................................................... 16
PESTLE ANALYSIS: ................................................................................................................................ 16
Political Factor Analysis ......................................................................................................................... 16
Economical Factor Analysis ................................................................................................................... 16
Social and Cultural Factor Analysis: ...................................................................................................... 17
Technological Factor Analysis ............................................................................................................... 17
Legal Factor Analysis ............................................................................................................................. 17
Environmental Factor Analysis ............................................................................................................... 17
PORTER‟S FIVE FORCES ANALYSIS OF ONLINE TAILORING AND BOUTIQUE INDUSTRY: . 17
Potential Entrants of Online Tailoring Industries (Threat of New Entrants) .......................................... 17
Barriers to Entry:..................................................................................................................................... 18
Threats of Substitute Products: ............................................................................................................... 18
Intensity of Rivalry among existing competitors .................................................................................... 18
Bargaining power of buyers .................................................................................................................... 19
Bargaining power of suppliers ................................................................................................................ 19
SWOT ANALYSIS OF CLOSET PARK:.................................................................................................. 19
Strengths: ................................................................................................................................................ 19
Weakness: ............................................................................................................................................... 20
Opportunities: ......................................................................................................................................... 20
Threats: ................................................................................................................................................... 20
Stakeholder Analysis of Closet Park:.......................................................................................................... 20
Analysis of the company (Closet Park): ................................................................................................. 20
Analysis of the competitors: ................................................................................................................... 20
Analysis of the customers: ...................................................................................................................... 20
DESCRIPTION OF THE VENTURE ........................................................................................................ 20
Mission Statement:.................................................................................................................................. 20
Vision Statement: .................................................................................................................................... 20
Product: ................................................................................................................................................... 21
Service: ................................................................................................................................................... 21
Size of the business: ................................................................................................................................ 22
Office equipment and personnel: ............................................................................................................ 22
BACKGROUND OF ENTREPRENEURS: ........................................................................................... 23
PRODUCTION PLAN ............................................................................................................................... 25
Manufacturing Process............................................................................................................................ 26
PRODUCTION: ...................................................................................................................................... 29
Supplier of raw materials: ....................................................................................................................... 30
Manufacturing Cost: ............................................................................................................................... 31
Future Capital Equipment ....................................................................................................................... 31
DESCRIPTION OF COMPANY‟S OPERATION ................................................................................ 32
Technology utilization: ........................................................................................................................... 34
CLOSET PARK- MARKETING PLAN .................................................................................................... 34
Marketing Mix of Closet Park ................................................................................................................ 35
Product: ................................................................................................................................................... 35
PEOPLE .................................................................................................................................................. 40
POSITIONING ....................................................................................................................................... 41
PROMOTION ......................................................................................................................................... 42
CONTENT BASED ONLINE/DIGITAL MARKETING: ..................................................................... 45
AWARENESS .................................................................................................................................... 45
EDUCATE AND TRUST BUILDING .............................................................................................. 46
PURCHASE ........................................................................................................................................ 46
VALUE BASED BTL: ........................................................................................................................... 46
CORPORATE SOCIAL RESPONSIBILITY: ................................................................................... 46
CROWDSOURCING AND CO-CREATION:................................................................................... 46
Influential Marketing .......................................................................................................................... 47
Affiliate Marketing and Community marketing: ................................................................................ 47
Personalization: ................................................................................................................................... 47
Channels for implementation: ................................................................................................................. 47
Tools for implementation:....................................................................................................................... 47
Packaging: ............................................................................................................................................... 48
Organizational Plan..................................................................................................................................... 48
Form of Ownership ................................................................................................................................. 48
Principle Shareholders ............................................................................................................................ 48
Members of the board of director ........................................................................................................... 49
Authority of Principals:........................................................................................................................... 50
Members of the Management Team ....................................................................................................... 50
Roles and Responsibilities ...................................................................................................................... 52
Risk Assessment ......................................................................................................................................... 56
Evaluate weakness (es) of business ........................................................................................................ 56
New technologies .................................................................................................................................... 56
Contingency plans................................................................................................................................... 56
Financial Plan for Closet Park .................................................................................................................... 56
Forecasted Annual Cost of Goods Sold .................................................................................................. 56
Forecasted Annual Sales Revenue .......................................................................................................... 57
Gross Profit: ............................................................................................................................................ 58
Assumption Sheet: .................................................................................................................................. 58
Source of Financing: ................................................................................................................................... 59
Source of Financing for Closet Park: ...................................................................................................... 59
 Owners Contribution:...................................................................................................................... 59
 Venture Debt Analysis: ................................................................................................................... 60
Pro Forma Income Statement...................................................................................................................... 60
Cash Flow Projection .................................................................................................................................. 60
Prom Forma Balance Sheet ......................................................................................................................... 62
Break Even Analysis ................................................................................................................................... 63
Appendix ..................................................................................................................................................... 63
INTRODUCTION
The extend of Bangladeshi dresses is surprisingly wide, according to the vast cultures,
geographical contrasts, obtaining capacities, influence of the western culture, and bewildering
diversities of the ethnic bunches. One has, in this manner, to filter and separate, and at that point
relate and bring together, the thoughts for making different plans, which can fit in the setting of
the mold in fashion and the culture in practice. The market of this venture is very scattered and
unorganized. There are a couple of major players in Boutique trade and these business people
have moreover taken an initiative based on their caprice and involvement within the field of
design plan.
The business we are going to do is an online boutique, where we are going to make the exact
designer dresses at an affordable price. We are going to offer a wide variety of western clothing
for women (including dresses, pants, tops, skirts, and gown). We will provide our young female
customers designer dresses with the price that won‟t hurt their wallet. The name of our business
is CLOSET PARK.
Closet Park is an online tailoring and boutique service where we are going to make the designer
dresses at an affordable price. Customers can also design their own dresses. They can choose
everything such as colors, fabrics, designs, etc. according to their preference
Most of the people in Bangladesh have income which is no match to upper social class‟s,
therefore, keeping that in mind we are going to make dresses that the ladies can wear without
thinking about the price. The size chart will be there to get the measurement of the customers.
This service is only for those who lives in Dhaka initially but we will serve all over the country
such as Chittagong, Rajshahi, Sylhet,etc in future.
We will be hiring professional tailors to make the dresses to perfection. They will be trained so
that we can understand and satisfy our customers‟ needs. As, this is an online business we are
going to hire employees to manage customers‟ enquiries and maintain good relationship.
Therefore, to make it even more convenient, the premises of Closet Park would be located near
the corporate area, so that customers can easily communicate with us.. Through many different
packages, we will help the customers to level up their fashion and closet as much as they can.
Starting from casual wear to party gown there will remain no stone unturned to help the
customers as well enrich live of those who get involved with Closet park as a whole.
Mission Statement:
Our mission is to provide the highest quality clothing service and satisfying customers or clients
with outstanding service quality as per their demand and budget and maintaining continuous
developments in every dimensions of the organization for growth.
Vision Statement:
Our vision is to build a strong relationship with our customers and to establish the business all
over Bangladesh in the next five years.
NAME AND ADDRESS OF THE BUSINESS
Name: CLOSET PARK
Factory location: Road:240, Godnail, Bhuiyanpara, Siddhirganj,Naraygonj Bangladesh-1430.
Office location: House:186, lane:2, Mohakhali DOHS.
Name(s) and address(s) of the principal(s)

1. Name: Md. Talha Mohaimen Adittya
(Founder and Chief Executive Officer of Closet Park)
Address: 750/B Adabor, Mohammudpur,Dhaka-1207
Email: mohaimen@northsouth.edu
Phone number: 01761972554
2. Name: Tasnim Nawar Angel
(Chief Marketing Officer of Closet Park)
Address: House:63, road:5, block: C Monsurabad Housing adabar,Dhaka-1207
Email: angelnawar@gmail.com
Phone Number: 01703560880
3. Name: Nur-Ul Alam
(Chief Finance Officer of Closet Park)
Address: 6/7/B Eskaton Garden Road,Ramna,Dhaka
Email: nur.alam1@northsouth.edu
4. Name: Musharrat Rahman Badhan
(Head of Human Resource)
Address: Road:3, House no:D/33, west rampura, Mohanagar project, Dhaka- 1219
Email: badhonmusharrat@gmail.com
5. Name: Syed Asif Adnan
(Head of Production Management)
Address: 89, senpara, parbata, Mirpur-10, Dhaka-1216
NATURE OF THE BUSINESS

Type: partnership
Industry: tailoring and boutique
The business is going to be a partnership business with 5 partners initially, with the names of the
partners and their designations being mentioned earlier in the report. Each partner will invest an
equal amount of capital in the business and the rest being managed through a bank-loan. Partner
will have equal stake in the business and each hold 10% equity; and decisions will be made
based on the designation of the partners. Furthermore, all liabilities and profits shall be divided
equally, and additional details too shall be mentioned in the Partnership Deed agreed upon by all
the parties involved.
STATEMENT OF FINANCING NEED

For initiating the business, “Closet Park” would need a total amount of BDT 2,62,84,000/-.
Funding mechanism would be 50-50 which means 50% of this amount, BDT 1,31,42,000/-
would come from owner‟s equity and the rest of 50% would come from other investors.
Furthermore, the will use bank loan and venture debt for expansion.
STATEMENT OF CONFIDENTIALITY OF THE REPORT

The undersigned readers of “Closet Park” business plan hereby acknowledges that the
information provided is completely confidential and therefore the reader agrees not to disclose
anything found in the business plan without the express written consent of Syed Asif Adnan,
Tasnim Nawer Angel, Md. Talha Mohaimen Adittya, Musharrat Rahman Badhan and Md. Nur-
Ul Alam. It is also acknowledges by the reader that the information to be furnished in this
business plan is in all aspects confidential in nature, other than information that is in the public
domain through other means and that any disclosure or use of the same by the reader may cause
serious harm and or damage to “Closet Park”. Upon request this business plan document will be
immediately returned to anyone of the business owners mentioned earlier. This is a business
plan. It does not imply an offer of any securities.
THE BUSINESS MODEL CANVAS
Business Model Canvas is an imperative apparatus which can be expressed as 'Blue Print' of the
general business. It is a graphical type of introduction which displays the inside and outer
activities of a business association and demonstrates the types of connection between the
business itself and its inner and outside partners. In the event that anybody asks, 'where the
association is frame?', 'what is it attempting to do?', 'how it will accomplish its goal?'etc. at that
point this canvas can answer the majority of his questions. This canvas additionally works for a
lifetime rule for the business people, originators, proprietors and the directors of the association
to maintain the business in an appropriate and productive path through keeping up legitimate
proficient association with their inner and outside publics. This canvas can likewise assist them
to guarantee synchronization between all the vital components with running a business
association effectively. Regardless of how the business is as far as size, authoritative culture,
speculation, activity et cetera, Plan of action Canvas is material for it.
An auxiliary canvas incorporates nine sections which are nearly connected with the foundation
and activities of a business organization. As an example it can be said that, an investor who is
planning to invest in a specific business organization, can know the key partners, assets,
activities, revenue stream, earnings, costs, value proposition of the business organization from
the business model canvas.
Key Partners
 Local Retailers
 Residents
 Local Tailors
 Website Development Firm
 Local Small Clothing Brands
 Local RMG (small-clothing) Firms
 Courier Services
 Dutch Bangla Bank Rocket
 BKash
 Grameenphone
 Kantar MRB Bangladesh
 End Consumers
Key Activities
 Making Designer dresses and sell it under a reasonable pricing
 Enriching the HR of Bangladesh Fashion Designing Industry
 Partner‟s improvement
 Tailor training
 Educating the Market
 Supporting the value chain
 Technology/IT
Value Proposition
 Core Value proposition to the end consumer: „Be trendy, it doesn‟t cost that much.‟
Which means providing trendy designer clothing under a very reasonable price.
 To the Fashion Designers (amateur, semi-professional or students): Providing the
initial boost their career by providing opportunities to make their portfolio a strong
one.
 Be the first ever top class online tailor for female consumers in Bangladesh
 Providing the small clothing brands, the opportunity to enter the ecosystem of huge
consumers.
Customer Relationship
 Better quality trendy and designer outfits in an affordable range.
 Best online tailoring which says, “Whatever you want, we can make them for you.”
 Creating a consumer created product list based on the demands
 Consumer Community
 Virtual Fashion Show
 Monthly Contests
 CSR activities
Customer Segments
 Primary Customers: Local Female
 Social Class: Mostly A & B.
 Age: 18+ to <40
 Trend Info: Both Western and ethnic preferred. But mainly western centric.
 Secondary Consumers: Male (Life Partners & Friends)
Channels
Website
Social Media Channels (Ex. Facebook, YouTube, Snapchat, Instagram etc)
BKash and Other Banks
Tailor Chain
PR
Key Resource
o Website Platform
o Tailor Chain
o Designs provided by the industry people and the consumers itself
o Capital
o Physical Evidence for the cloth making
o Machineries
o Social Media Analytics
Cost Structure
 Financial Cost
 Administration Cost
 Facility Cost
 Technological Cost
 Operational Cost
 Legal Cost
 Channel Cost
Revenue Stream
 Sales Revenue
 B2B partnership revenue
 Affiliate Marketing Revenue
 Advertising Revenue
PRICING MODEL
Closet Park is flexible in according to our customer demands, in terms of fabric material,
customized designs chosen and the timeframe of the delivery. Hence, the pricing of each clothing
will vary. Down below is a projected pricing chart:
Category Line Average Projected Price

BDT
Ethnic Mix &Match 1100
Suit Sets 3000
Easy Stich 1200
Western Regular (Modern) 2500

Formal A1 27000
Formal A2 13000
Formal A3 5500
Custom Made Western Formal 10000

Ethnic 5000
Modern 3000
SOCIAL GOAL:
First of all through outsourcing, new jobs will be created in those areas and then women wearing
our dresses will be better off pulling their everyday responsibility but in style. In addition, a
percentage of our profit every year will be donated to cure patients who have been amputated
especially in the rural regions of our country.
FINANCIAL SUSTAINABILITY:
Closet Park will gain a competitive advantage through custom made clothes on demand, which
allows it to compete based on a niche strategy. It has a high growth potential due to the patent
issue which will increase barriers to entrance in the niche market for competitors. Based on our
sensitivity analysis, our best case shows us selling 10% more goods and our worst case shows us
selling 5% less goods, which exemplifies low investment risk Our IRR is well above our
weighted average cost of capital in both scenarios and even with a decline in sales our net
present value is still positive which means value is added.
SUSTAINABILITY:
Closet Park will gain a competitive advantage through the idea of custom made clothes, which
allows it to compete based on a niche strategy. It has a high growth potential due to the patent
issue which will increase barriers to entrance in the niche market for competitors.
ECO- FRIENDLY:
Closet Park is a fashion label based in Dhaka creating luxury ladies designer dresses using the
most environmentally friendly methods we can for our clothes. Our dresses are made from some
of the finest fabrics and we work closely with our factories and suppliers to ensure we reduce the
synthetic material, like polyester or nylon, wherever possible.
ETHICAL:
Ethical production is at the heart of our business philosophy. Everything is made for you from
the finest materials by our team of designer makers. All our dresses are designed to be worn &
loved for many years that are we promote sustainable long lasting fashion.
BUSINESS ENVIRONMENT ANALYSIS
INDUSTRY ANALYSIS
This industry includes small retail stores that offer a limited range of apparel and accessories.
The industry is defined as single establishment stores only. Boutiques can be designer based i.e.
only one designer‟s collection is sold there or they may sell a mix of brands that are specifically
catered to the local market.
ANALYSIS OF THE DOMESTIC BUSINESS

The pivotal factor in the apparel industry is the workforce i.e. the sewing operators, the helpers,
cutting masters, pattern makers, finishers etc. Bangladesh is endowed with abundant cheap labor
force that is easily trainable and convertible into semi-skilled and skilled workforce. Existence of
such category is one of the advantages that Bangladesh will be enjoying over a considerable
period in the context of trade on clothing.
What new products have been introduced?

There is no significant new product has been introduced in this industry. Local brands imported
some international brands and those brands are operating well.
CLOSET PARK BUSINESS OPERATION

In most of the cases Closet Park will comply with the environmental laws of Bangladesh and will
try to increase its engagement with the customers. We will make our business operation as much
greener as possible and also communicate this into our marketing communication so that
customers feel that by buying the products, they are only contributing for a greener world.
Analysis of the competitors:

Currently all fashion houses are providing traditional products but we will provide something
unique and better product for our customers which are first time in Bangladesh.
PESTLE ANALYSIS:
Political Factor Analysis
In Bangladesh, political turmoil like vandalism, strikes etc. are serious barrier in the smooth
functioning of a company. Due to this problem Closet Park might face problem in terms of
meeting the production and facilitate the demand. Closet Park should craft its operation strategies
considering this political turmoil so that it does not affect its operation.
Economical Factor Analysis

According to our study and understanding the following factors should be considered in terms of
economic analysis
• Growth of economy-It is indeed commendable that Bangladesh has been able to manage a
sustainable growth rate of more than 6.0 per cent for the last few years. If Bangladesh is able to
increase the GDP (gross domestic product) growth rate to 7.0 per cent, the size of the economy
will be double in each decade.
• Status of the economy-Bangladesh has graduated from the lower income country to the status
of middle income country, is surely a piece of very good news for the whole nation. The country
has also been placed by the World Bank (WB) in the list of 51 such countries including India,
Pakistan, Sri Lanka and Vietnam. According to the World Bank (WB), Bangladesh has become a
middle-income country with the Gross National Income (GNP) per capita, joining those with
annual incomes of $1,046 to $4,125. It is no mean feat that it has been achieved some three years
ahead of the government‟s projected timeline of crossing the threshold of a middle income
economy by 2021.
• Online boutique industry is growing with the increase of urban population and income level.
Currency rates are fluctuating which influence the cost of procurement of raw materials from
external sources.
Social and Cultural Factor Analysis:

People‟s lifestyle is changing with the increase in disposable income and more and more people
are becoming quality and fashion conscious. In terms of this Closet Park have addresses that
social need of the women and want to offer a new form of fashion. The old styling is no more
applicable and people want more modern fashion with comfort and ease of access. Social and
cultural indicators are positive signal for the future prospects of the company- Closet Park.
Technological Factor Analysis

Due to vast improvements in the information technology systems, „Internet‟ has posed itself to
be new media to reach the consumers. Realizing the need and the opportunity a lot of fashion
house and boutique shops of Bangladesh have already set a state of the art facility in their
factories. Our company will provide new forms of technological improvement where MIS
(Management Information System) department monitor their whole operation. The ERP
(Enterprise resource Planning) system in it is also a positive step towards good use of technology
in the survival and competition in today‟s business.
Legal Factor Analysis

Closet Park should comply with the tax and other laws of the country. The legal advisor
department of Closet Park should craft a good legal framework for the company so that it does
not face any complication in terms of legal issues.
Environmental Factor Analysis

Closet Park should be aware of such issues and make plan accordingly for its factory operation
so that the company complies with all environmental laws and regulations of country.
PORTER’S FIVE FORCES ANALYSIS OF ONLINE TAILORING AND

BOUTIQUE INDUSTRY:
Potential Entrants of Online Tailoring Industries (Threat of New Entrants)
Factors which indicate the likelihood of entrants coming into an industry and creating
competition for existing companies is known as threat of new entrants. It is higher if there is an
excessive profit to be earned or entrance barriers are lower. In Bangladesh the popular clothing
companies are Aarong, Grameen UNIQLO, Cats Eye, Yellow, Ecstasy, Rang, Kay kraft,
Anjan‟s, Bibiana, Manyavar etc. among them Aarong and Grameen UNIQLO are the organized
retail manufacturer and distributor who can boast of sizeable market shares. However, the
entrants of new company can still be observed, which is due to low production cost, high quality
and attractive design of dress from the countries like China, Thailand, India etc. The threat of
new entry into an industry depends on the barrier to entry that is present, coupled with the
reaction from existing competitors that the entrant can expect.
Barriers to Entry:
The major sources of barrier to entry are:
a. Economies of Scale: Economies of scale refers to declines in unit costs of a product as the
absolute volume produced per period increases. New entrants in the industry cannot easily take
over the existing companies as the existing companies of Bangladesh have low production cost
and is enjoying large economies of scale compared to its neighboring countries. So, the new
entrants like Closet Park have to come in a large scale and strong risk reaction from existing
firms or accept a cost disadvantage.
b. Product Differentiation: Product Differentiation means that established firms have brand
identification and customer loyalties, which branch from past advertising, customer service,
product differences, or simply being the first in the industry. Thus new entrants like Closet Park
have to invest a lot to build their own brand name. We also have differentiated our product by
making it available to customers to make their own design for their dress.
c. Capital Requirements: We need to invest large financial resources in order to face the barriers
to entry particularly if the capital is required for risky or unrecoverable up-front advertising or
R&D. Capital may be necessary not only for production facility but also for covering start-up
losses.
d. Access to Distribution Channels: It refers to the access to favorable locations, proprietary

technology or proprietary production material inputs which increase the entry barriers and
decrease the threat of entry. The more the existing companies have tied up with these things the
more the tougher new entry will be. In this case, all the established fashion houses have their
own secured distribution channels which are barriers for the new entrants. So in this sector the
new entrants must have strong and secured distribution channels of their own products to enter
and compete into the industry.
Threats of Substitute Products:

Substitute products are those products that can perform the same function as the product of the
industry. The only substitute product for tailoring and boutique industry will be the RMG
industry. In Bangladesh which owns the major dominant market share.
Intensity of Rivalry among existing competitors

Rivalry among existing competitors takes the familiar form of jockeying for position by using
tactics like price competition, advertising battles, product introduction and increased customer
service or warranties. Rivalry occurs because one or more competitors either feels the pressure or
sees the opportunity to improve position. The online boutique industry is also thus facing such
rivalry among existing competitors. If there are more firms within an industry; there is an
increased competition for the same customers and product resources. There is even greater
competition if industry players are equal in size and power, as rivals compete for market
dominance. When an industry is growing rapidly, firms are able to increased profits because of
the expanding industry. When growth slows down and industries reach the maturity stage of the
industry lifecycle, competition increases to gain market share. In industries where the fixed costs
are high, firms will compete to gain the largest amount of market share possible to cover the
fixed costs. This is what every firm is trying to reach the fixed costs and shortage its costs in the
online tailoring and boutique industry.
Bargaining power of buyers

Bargaining power of buyers mean the buyers/customers have little power to set the terms and
conditions under which they will buy. Basically it is an advantage to consumers that comes from
gathering together to put collective pressure on producers to lower prices or improve quality.
Bargaining power of buyers in the tailoring industry is not that much high as there is not a lot of
firms offering these services. Individual consumers of this industry have some bargaining power
in negotiating price concession or other favorable terms with seller, hence, the individual buyers
mostly pay the seller‟s posted price. People modern designs, so to satisfy customers the
companies have to keep up with the trend as well. These substitutes are fulfilling the same
demands with some extra features. More international buyers are moving towards Bangladesh as
it has cost competitiveness in terms of gas supply, cheap labor cost, and skilled labor.
Bargaining power of suppliers

Where very few products are chased by a large number of buyers there poses a bargaining power
of supplier. In Bangladesh, there are very few number of fashion houses. Besides there are some
other barrier like delay in payment by the buyers, slow process in sanctioning funds by bankers,
unauthorized labor absenteeism, poor quality of equipment‟s, political condition and government
restrictions. Sometimes it is harder to fight back with all these problems. As a result the price of
the product either increases or become stable at previous price. On the other hand the substitute
products, they do not have to face all these problems. They are independent to set the price at a
lower rate and consumers found the substitute product with the same features with a lower cost.
This gives the suppliers more power than RMG sectors suppliers.
SWOT ANALYSIS OF CLOSET PARK:

Strengths:
Closet Park has advanced machines and skilled manpower which make it possible to produce
good quality dress. It also has good financial backup. As we can get designs from our customers
which makes it easy for us to follow new fashion trend. Also our R & D is very strong and to
address the customer needs and insights. Our product price is comparatively cheaper than our
competitors.
Weakness:
As we will be training tailors to make the dresses in the beginning of the business there will be
some unskilled tailors who are not sure how to make western dresses. So until they are properly
trained they will be Closet Park‟s weakness.
Opportunities:
Here labor cost is low which makes it possible to produce the products more cheaply. On the
other hand, young generation is now more fashion oriented and brand conscious and they like to
try new products as well.
Threats:
Consumers are now more prices sensitive day by day. Furthermore, most of the raw materials are
not locally available. Our production might get hampered due to electricity crisis.
Stakeholder Analysis of Closet Park:

To analyze the stakeholders we have considered the 3C approach, which is as follows
Analysis of the company (Closet Park):

Closet Park is a company which is providing unique and innovative products for its customers. In
Bangladesh such type of products are first in class and we have a first mover advantage on this
regard.
Analysis of the competitors:

There are many competitors in the industry, but in case of providing dress that is designed by the
customers themselves, there is no other company who are following this tactics. So if proper
value is created and communicated, we can compete directly with our external stakeholders.
Analysis of the customers:

The customers of Closet Park like unique, trendy and innovative products. We are offering such
products to them and we are hopeful that they will welcome it. Also our customers are mostly
from middle class.
DESCRIPTION OF THE VENTURE

Mission Statement:
Our mission is to provide the highest quality clothing service and satisfying customers or clients
with outstanding service quality as per their demand and budget and maintaining continuous
developments in every dimensions of the organization for growth.
Vision Statement:
Our vision is to build a strong relationship with our customers and to establish the business all
over Bangladesh in the next five years.
Product:
The range of Bangladeshi clothes is remarkably huge, according to the vast cultures,
geographical variations, purchasing capacities, the impact of the western tradition, and
bewildering diversities of the ethnic groups. Closet Park is an online tailoring and boutique
service where we are going to make the designer dresses at an affordable price. Customers can
also design their own dresses. They can choose everything such as colors, fabrics, designs, etc.
according to their preference .We are going to offer a wide variety of tailoring service for women
and the things we are going to made for our customers are as follows:
Ethnic Wear
Formal Wear – Party dresses and special occasion dresses such as Salwar Kameez.
Contemporary Wear
Fusion Wear – Combination of eastern and western wear.
Western Wear
Tops, Pants, and Gowns.
.
There will be size chart provided in our website for each of the
categories which will help our customers to give order according to the body measurement.
Service:
All the products will be tailor made and for that customer‟s measurement is required that‟s why
we will provide size chart. If customers face any problem regarding the size then we will give
them free alteration or in very extreme cases we will replace the product.
Once the customers give measurement for their first order they don‟t have to go through the
hassles of giving measurement for their next orders.
Size of the business:
Total size of the business is more than 2crore.The business is going to be a partnership business
with five partners initially, and the names of the partners and their designation have been
mentioned below. Each partner will invest a certain amount of money in the business (and this
will be equal for all the partners) and the rest of the amount will be managed through a loan.
Each partner will have equal stake in the business, and decisions will be made based on the
designation of the partners.
All liabilities will be shared equally among the partners, and since that have already been
mentioned the profit is also to be shared equally between the partners. All the details of the
business will be given in details in a partnership agreement that will be provided with the report.
Office equipment and personnel:

The office will be air-conditioned with great lighting conditions. Each of us will be needing
laptops. We will also have a photocopier and printer. The photocopier and printer will be
purchased. At the beginning of the business, we will be using our own personal laptops for office
purposes. We hope to buy better equipment once the business sets off. For factory, we will need
sewing, overlock, embroidery machines.
Will equipment be purchased or leased?
All the equipment will be purchased
Reasons for going into business:
Most of the people in Bangladesh have income which is below average, therefore, keeping that
in mind we are going to make dresses that the ladies can wear without thinking about the price.
We will have product for lower middle class to upper class customers‟ so that everyone can
enjoy our product without reaping their wallet.
Will equipment be purchased or leased?

All equipment will be purchased.
Why will you be successful in this venture?
Since, it is a unique service with unique concept. It is easier on attract prospective customers and
create brand image and hence it will help the company to make more sales and finally result in
better revenue and faster ROI.
Where will the business be located?

Our factory will be located in Road:240, Godnail, Bhuiyanpara, Siddhirganj,Naraygonj
Bangladesh-1430.
Is your building new? Old? In need of renovations?

The building is completely new and therefore, we don‟t need any renovation for it.
Is the building leased or owned?
Building is owned by one of the partner.
Why is this building and location right for your business?

Most of the experienced tailors live in Narayangonj so we can hire tailors easily; and the
communication facilities, rental cost and other facilities of this building and location are right for
our business.
BACKGROUND OF ENTREPRENEURS:
Name: Md. Talha Mohaimen Adittya
Email: talha.223@gmail.com
Talha Mohaimen Adiitya completed his graduation from

North South University. He has concentration on
Marketing. He has an ample amount ok knowledge and
experience on this filed. He is also the founder of
Markedium and Co-founder of TellTale. He worked as
marketing analyst for Crossword Marketing and
communication for several years. He also worked with
Nestle, BAT, Japan Tobacco and Ecstasy. Therefore, he has enough knowledge and experience
to run the business smoothly. His immense determination and versatile expertise aid the
company towards reaching its goal.
Name: Tasnim Nawar Angel
Address: House:63, road:5, block: C Monsurabad

Housing adabar,Dhaka-1207
Tasnim Nawar Angel completed his graduation from North South University with a single
major in the field of Marketing. He is the founder and Vice President (marketing) of
jossdeals.com. Currently he is working as a personalized Internet assessor in Bangladesh for
Lionbridge Technologies, Inc. He is also working with Unilever Bangladesh Limited. He also
enhanced her teamwork and leadership skills through years of communication with people from
various corporations. Tasnim always dreamt to be an entrepreneur and he wants to prove himself
through Closet Park and want this company to make one of the best online tailoring services in
Bangladesh through his knowledge, aspiration and hard work.
Name: Nur-Ul Alam
Nur-Ul Alam completed his graduation from North South

University with a dual major in Finance and International
Business. Closet Park.He is also accountable for the financial
responsibilities of the business. To assess whether a certain
investment is essential and if so, how to finance this and whether it will be sustainable (profitable
for the business). Everything has to be taken care of by the CFO and it is also the CFO‟s
responsibility to give a good financial breakdown of the business. He loves to play with numbers
but he maintains a very good relationship with his superiors, coordinates and team members. He
has also enhanced his teamwork and leadership skills through years of communication with
people from various corporations.
Name: Musharrat Rahman Badhan
Address: Road:3, House no:D/33, west rampura,

Mohanagar project, Dhaka- 1219
Musharrat Rahman Badhan completed her Major in Human Resource management. She has
chosen to be the head of HR because she loves to work with people and always wanted to be
around people and work with them. Previously, she
worked in her university‟s student clubs and this built her
up knowing people, managing events and working with
different minds. She has special training in how to deal
with people, work with them, communicate as well as
manage people from different races and communities. She
has also proved herself to be a worthy strategic planner.
Musharrat has the zeal to update her knowledge on latest
practices and trends in human resources. With her
knowledge and expertise, the company deals with the daily
challenges that arise in the organization.
Name: Syed Asif Adnan
Address: 89, Senpara parbata, Mirpur-10, Dhaka-1216
Email: saahaque819@gmail.com
Syed Asif Adnan got oriented to the business environments from a very early age as his father
himself was a successful businessman. Asif graduated from North South University with a
degree in Human Resources Management and Marketing. His academic knowledge and business
skills is second to none in the industry. These abilities enable him to cope with obstacle
effectively. Moreover, the position he placed himself as Head of Production Management is
perfectly settled with his knowledge and experience he acquire. Furthermore he had a lucrative
job with 5 years of experience as production manager in Adams Apparel (RMG factory).
PRODUCTION PLAN
As a start up in apparel industry we differentiate our business operation going into online and in
house manufacturing operation as well. Production planning and control is one of the key aspects
of any clothing industry. Closet Park offers an exclusive opportunity for their customer with
mass customization, convenient, accuracy and quality product.
To ensure quality Closet Park provide in house production process to make their product more
accurate and higher quality.
Manufacturing Process
Raw Materials for the goods
Fabrics BDT 72/kg

Cotton Yarns BDT 30/Card
Fiber BDT 66/kg
Raw Materials for Woven Finished Fabric
Cotton Sheeting BDT 135/yd
Cotton Light Canvas BDT 170/yd
Cotton Popline BDT 160/yd
Raw materials for Twill
100% Cotton Twill BDT 180/yd
100% Cotton 2/1 Twill BDT 150/yd
100% Cotton Oxford BDT 184/yd
100% Cotton Rib Stop BDT 172/yd
TC & CVC Blend
TC (65% Poly + 35% Cot) Shirting 132/yd
CVC (60% Cot +40% poly) Check 168/yd

MANUFACTURING PROCESS FOR APPAREL GOODS
Process Selection and System Design
Forecasting Facilities and

Capacity Equipment
Planning
Product and
Service
Design Layout
Process
Technologi Selection
cal change Work
Design
Process Type
Since Closet Park open an option for mass customization as well as the ordinary design, they
have followed three types of production system Batch production, Jobshop production.
Batch Processing: Closet Park has obtained batch processing in mostly components are
produced in a basis of group and not in a continuous basis. The advanced options of Closet Park
facilitated the customer with variety of design on their products, in which segmented into certain
groups that requires Batch processing in production.
 This process facilitated with shorter production runs.

 Provide flexibility in plant and machinery.
 Plant and machinery set up is used for the production of item in a batch of set up and
required a batch processing the next batch.
 Manufacturing lead time and cost are lower than to the job order production.
 It also benefited lower cost in lead time in job order production.
Job Shop Processing: That also enable for some specific group of customers who have different
demand and special need. In the job shop process flow, most of the products produced require a
unique set-up and sequencing of process steps, which refer to perform custom parts
manufacturing for others specific needs.
 High variety of product and low volume

 Use of general purpose machine and facilities.
 Required highly skilled workers who can take up the job challenge because of
uniqueness.
 Machines and facilities variety of products can be produced.
 Enabling the existence of opportunity for creative methods and innovative ideas.
Process and Design
 Design: which is provided by buyers and when the product has been placed, then
merchandiser automatically get the technical sheet and art-work.
 Pattern Making: By following technical sheet and art-work, pattern of each garment
style has been made and done by using computerized method.
 Fit Sample Making: The key target of making a sample fit is to follow the details
instruction about the garment style. And after making it‟s sent to the buyer to rectify.
 Production Pattern Making: For bulk production, allowance added here with net
dimension and for making the production patterns get done by using computer.
 Grading: During an order confirmation, the buyer suggest about the size ratio of that
order. Hence the order being graded according to the buyer‟s instruction and that also
has been done by the computer.
 Marker Making: Marker is a very thin paper which contains all the parts of a
particular garment. It‟s incorporated because of the convenient of production. And the
market process has been done by using computers
PRODUCTION:
Since the target market of Closet Park is all women, this result the production involves all the
women‟s wear. Hence, that‟s also varies from the perception over the different person.
The Production process from the factory is given below.
Materials receiving, inspection and storage: To ensure receive the right material in the right
quantity and for that storage in the proper condition. Since, Closet Park is a technological
company the storage is not necessarily required heavy use.
Fabric Spreading & Cutting: To cut the fabric properly fabric us spread in lay form.
Additionally, the fabric spreading done by manually or by using computerized machines. Since
our value proposition is customer can take the measure of her figure by using our app. For that
reason in order to maintain accuracy and get better efficiency Closet Park has done this process
fully computerized.
Embroidering, Printing, Bonding, Heat Transfer, Fusing: Closet Park is employing many
types of machineries for embroidering, printing, bonding, heat transfer, and fusing for the
product.
Sewing: Sewing is very important part for all apparel manufacturers where all the parts of
garment are joined here to make a complete garment. As a consequence sewing process is done
by manually.
Inspection: After completing sewing the inspection activity has done along with all process both
in-line and final inspection. This is important process to ensure the quality of the products.
Finishing and Ironing: In this dept. garments are treated by steam and complete finishing here.
This process is also done by manual method. And the complete products are inspected according
to buyer‟s specification afterwards.
Packing & Shipping: Complete garments are based on the buyers demand. Garments packaging
are done by manual method.
Supplier of raw materials:

Local agents of the textile industry are the main suppliers of Closet Park since they are producing
apparel goods. Regarding the manufacturing garment goods, that required various types of raw
material such as fabrics, cotton yarn, fiber, cotton shitting, cotton light canvas etc. There are two
textile mills Dulamia Cotton Spg. Mills Ltd. And Father Textile Mills provide continuous supply
all the raw materials that required by Closet Park. The cost of each material has already stated at
the beginning.
Manufacturing Cost:
Closet Park offers their products into four segments to differentiate the market and provide a
variation of choice for their consumers. Each segment derived different costing.
Category Line Range of Cost Average Cost of per

(BDT) line/product
Ethnic Mix & Match 600-900 700
Suit Sets 1500-1800 1600
Suit Sets with 2500-3500 3000
Additional Design
Easy Stich 600-800 700
Future Capital Equipment

In recent years it‟s been observed that the innovation in new technology in the garment industry
bring greater efficiency in production. The foreseeable capital needed for Closet Park would be
auto laser cutter machine which have greater efficiency and effectiveness rather than manual
processing.
Equipment Cost
1325 fiber laser cutting machine $5000 x 10 units = $50,000
= TK. 40,00,000/-
AS1290 80w Co2 laser cutting machine $1000 x 20 units = $20,000
= TK. 16,00,000/-
These machines will be needed when the demand of the market will be high as well as the profit
margin, then in order to provide enough supply Closet Park will look forward for this
investment.
OPERATIONAL PLAN
DESCRIPTION OF COMPANY’S OPERATION
The Operational plan of Closet Park concerns mainly with the various activities that are
coordinated with the implementation of the top management‟s plans. Closet Park is a service
providing operation thus it focuses on providing the utmost quality to its clients. And in order to
this various factors have been planned out precisely to reduce as much loopholes as possible.
 Location: The factory will be located in Narayangonj, because it will be easier for the
company to get the skilled tailors more easily.
 Space: The space, in which Closet Park is accommodated, is adequate enough so that
employees can do their work easily. There will be enough space where the Closet Park
can keep its inventories. Moreover the land is of 5kattas, there will be huge, so the
production can run smoothly.
 Raw materials: Since the company is about tailoring and boutique oriented therefore, the
raw materials such fabric, buttons, threads, needles, etc. will be collected from Islampur,
Gawsia, and New market.
 Labor Skills of Closet Park: Training will be provided to the key employees, especially
the tailors and coordinators of the different categories of services that are being provided.
 Distributors: Closet Park‟s distribution partner will be Pathao. Pathao‟s delivery service
will be used to deliver the product to the customers.
 Overhead Expense: The overhead expenses of Closet Park would constitute of both the
direct and indirect expenses altogether. And they can be subdivided in the following
areas: rent, tailors salaries, salaries of other employees, electricity bill, advertising
expenses, interest expenses, and miscellaneous expenses.
FLOW OF ORDERS FOR GOODS AND/OR SERVICES
Customers
Customer
learning about
Start decides whether
closet park
to visit website
from social
or not
media
Yes
Customer explores the

Inventory is
website and chooses color,
checked for The order info goes to
availability fabrics, design etc. and
ERP
of resources places order through
website.
Yes No
Tailor makes the Dress is delivered to The delivery partner

dress in 15 to 20 the Mohakhali, delivers the product End
days DOHS office to customer
No
Suppliers are
contacted to restock
inventory
At first, customers will get to know about Closet Park thorough social media. If they like any
dresses they will visit our website. After entering into the website the customers will explore the
other designs that are available in our website. After choosing their preferred colors, fabrics,
design, etc. they can confirm the design and place their order through the website.
After placing the order, the information goes into Enterprise resource planning (ERP) system, to
check whether the resources are available or not to make the dresses. If the resources are
available then the employee who is responsible for inventory management give all the
information to the tailor including the size, design fabric etc. based on the availability of the
resources‟ we will take 15-20days maximum to deliver the product.
Then the tailor will make the dress and the after the completion of the dress it will be sent to our
Mohakhali, DOHS office, the delivery partner will deliver the product to the customer.
Technology utilization:
Since, Closet Park strives to meet the needs of the modern era, thus it also wants to ensure that
wherever the company implements the use of technology, innovation and efficiency is ensured
there. For managing inventory, Closet Park will use perpetual inventory by using Computerized
point of sale system will be used to keep the track of inventory. Closet Park will also use ERP
system to track the availability of the resources. There will be website and other social media
such Facebook page, instagram, etc. by which customers‟ get to know about the company.
CLOSET PARK- MARKETING PLAN
As a new concept of tailoring in Bangladesh Market which digitalizes the total tailoring
platform, we the “Closet Park” management have some fatal challenges in terms of consumer
response. Whose are:
Customer Awareness
Customer Education
Customer Trust
Initial Crisis Management
Customer Response & Feedback Analytics.
To tackle these challenges, we have designed our marketing mix which briefly described below:
Marketing Mix of Closet Park
Marketing Mix is the core of any business and is a very important element for any sort of
business plan. Our marketing-mix contains bellow mentioned segments:
o Product/Services
o Pricing
o Place
o Promotion
o Packaging
o Positioning
o People
Each of them is designed below
Product:
As mentioned earlier, Closet Park is an online tailoring platform where consumers (female) can
order their desired clothing and get delivered right to their door step. Hereby, our main service
is-
Tailoring all sort of female clothing
As there are lots of categories of women clothing‟s, we have segmented the whole women
fashion wears into 3 main categories which will have several categories, whose are:
Ethnic Wear
 Mix & Match: In this segment, women can choose separately both upper
half of their wear and the bottom half of their wear and can match it up
according to their choice and order it to us according to their choice and
measurement.
Figure: Mix & Match – Top Half Wear Sample
Figure: Mix & Match- Bottom Half Wear Sample
 Suit Set: Here women will get to order several trendy outfits which comes
with full sets (3 pieces) like for example: Anarkali, Asymmetric, Flared, A
line, Kalidar etc.
Figure: Suit Sets- Wear Sample
 Easy Stich: It is a segment where women will get several dress choices
whose are easy and common practice in current trend is. For example:
Embroidery, Block Design etc.
Western
 Regular (Modern) Outfit: Here women get to see all the western trendy
outfits that are currently ruling the world and gets to order them according
to their choices. This is our one of the major value proposition to serve
the consumer with all the trendy outfit displayed in the website with a
very affordable range. This segment will contain dresses like: Tops,
Cross Shoulder, Off Shoulder, Sun Dresses etc.
Figure: Western- Regular Modern Outfit Sample
 Formal Clothing: Formal Clothing includes all the formal outfit such as
suits, blazer, formal shirts for the women to order and mix and match to
order. This segment will be delivered in three different categories of
fabrics, whose are: Global Branded Fabric aka A1, Local Standard Fabric
aka A2 and Local Regular Fabric aka A3.
Custom Made: Here consumers can give their own design through our design templates
that are provided in the website. The can choose all the colors they want or the styles they
want to create. This service is available for ethnic, western (formal) and western
(modern) outfits only.
PRICING:
As the whole service depends on various things such as the fabric chosen by the consumer or the
complexity of design and the urgency of delivery, so the pricing is a variable option here for us.
To give a projected idea about the pricing, a projected pricing chart is given below:
Category Line Range of Price Average Projected

BDT Price
BDT
Ethnic Mix &Match 1000-1500 1100
Suit Sets 2500-3500 3000
Easy Stich 1000-1500 1200
Western Regular (Modern) 1500-3500 2500

Formal A1 25000-35000 27000
Formal A2 10000-15000 13000
Formal A3 5000-7000 5500
Custom Made Western Formal 7000-15000 10000

Ethnic 3500-6000 5000
Modern 2500-3500 3000
Projected (average) Pricing Chart of Closet Park
PLACE
Here in the marketing mix, Place means the hub from where consumers will get the product, the
information of the product and how many destinations it (product) needs to pass before it reaches
to the customer.
Website:
The ultimate destination for getting everything about our service/products is the website
which will be named as follows: www.closetpark.com . Consumers will get to check their
options, order them directly from the website.
Corporate Office:
Our corporate head office will be the ultimate place for all the operations which will be in
Mohakhali DOHS, Dhaka.
Mobile App:
There will be a mobile after 1 year of operation in the market which will allow the
customers to have everything they want from the business very easily.
Customer Care:
Customers will have a customer care facility where they can ask any queries they have
and get answered immediately.
There will be no retail shop for our business. (For Now)
PEOPLE
By “People” we are directing towards the Human Resource of Closet Park who runs the business
accumulatively. As a new business which is based on manufacturing, hereby we vastly depended
on our HR.
Human Resource of Closet Park:

We have segmented our HR into several categories which includes the C-suite members,
Executives, Customer Care Assistant, Production Employees (manages the machines), Tailoring
(Cutting Master, Sewing Line, Measurement Experts, Designer, Assembly Line etc.)
Category of Employees Number of Employees Status
C-suite 4 Permanent
Production Employee 5 Permanent
(Machine Expert)
Customer Care Manager 1 Permanent
Customer Care Assistant 10 Contractual
Cutting Master 8 Permanent
Sewing Line Member 15 Contractual
Measurement Experts 20 Contractual
Designer 2 Permanent
Office Assistant 2 Permanent
Assembly Line Member 10 Contractual
Total Employees 77 Permanent= 22,
Contractual=55
POSITIONING
Positioning stand for the desired perception by the company amongst its potential customers.
For Closet Park what we will try to convince the customers-
We have the best bunch of tailors who can make almost all types of women wears
specially the western outfits and provide it within a very affordable price comparing to
the market.
Our main value proposition is to provide the trendy designs that are either unavailable in
Bangladesh Market or very much expensive for majority of the consumer at a very
affordable cost.
That‟s why we named our brand Closet Park and our tagline is- Your Fashion is Our
Brand. It‟s all about consumer‟s fashion decision as we will build our brand and business
around that.
Closet Park Logo and Tagline
PROMOTION
Promotion of any product/services starts with the segmentation and targeting the right customers
from the segmented consumers.
Segmentation and targeting of Closet Park is given below:
SEGMENTATION:
We have segmented the customers based on their gender, age, occupation, geo-location, socio-
class and psychographic behavior. A chart providing all the segmentation criterion are given
below:
Gender Age Occupation Ge0-Location Socio- Psychography

(Bangladesh) Class
Male Below Student Dhaka A Positive
18 Mindset
Female 18-25 Business Chattagram B Digital Friendly
Others 25-35 Govt. Job holder Bagura C Openness
35-40 Private Job Holder Sylhet D Switcher
40+ Housewife Khulna E Adventurous
Unemployed Barishal Trendy and
Updated
Noakhali Premium
Lifestyle
Rangpur Iconic Fashion
Friendly.
Closet Park- Segmentation Diagram
N.B. Green Blocks are showing the targeting attributes of each category.
o Targeting
Targeting directs towards the group of people which has the potential to become customers for
our company Closet Park. So, the initial target groups for Closet Park are:
Gender Age Occupation Ge0-Location Socio- Psychography

(Bangladesh) Class
Female 18-25 Student Dhaka A Positive Mindset
26-35 Private Job Holder B Adventurous
Businesswomen Digital Friendly
Housewife Open to newness
Premium Lifestyle
Fashion Friendly
Figure: Target Consumer Profiling Chart
We will design the total promotional campaigns based on three basic goals and run them through
several appropriate channels using advanced tech tools.
The three-dimensional approach will be:

Awareness
Educate and
Purchase
Trust Building
Awareness: The first and foremost objective of our marketing acts will be letting people
know that there is a company exist in the marketing who can serve the need of providing
trendy fashion wear at a very affordable price with optimum quality.
Educate and Trust Building: The second objective will be to educate the customers
about how the website or the company works. Coming up with contents that will take
consumers to our website where they will find the most about our business and the
services delivered to them by us. Trustworthy contents will be one major armor to this
consumer battle for us.
Purchase: This will be the ultimate call to action approach for our Brand where we will
try to occupy the early adaptor market for better market growth and sustainability.
While Closet Park comes with a vast set of opportunities for the target audience, yet it has some
serious challenges to overcome to capture the market share. Those are:
o Almost each female in the urban city has one fixed tailor of their own.
o Not yet used to the online shopping cap
o Customer education which increases the customer acquisition cost at a premium.
o Advance tech usage is yet to be practiced in Bangladesh in Fashion Industry.
To solve these above-mentioned challenges- we will adopt the three-dimensional approach. To
implement all the approaches, we have decided to go with three sorts of marketing tactics, whose
are:
 Content Based Online/Digital Marketing

 Value Based BTL
 CSR
 Crowdsourcing &Co-creation
 Influential Marketing
 Affiliate Marketing
 Community Marketing
And all these tactics will follow mostly the Digital Marketing footprint and the PR activities.
CONTENT BASED ONLINE/DIGITAL MARKETING:
Bangladesh is currently one of those countries which is experiencing a huge digital acceptance
boom in recent years. The number of online users is increasing at a massive rate each day in
Bangladesh. So, the online media or digital marketing is the one stop solution for any kind of
brand activity right now not only in Bangladesh but also for rest of the world as well.
Content is the king! This quote explains everything about how important it‟s for marketers to
attract their audience through making interactive content.
For Closet Park, the content strategy will comprise of three underlying objectives according to
the three-dimensional approach above explained:
AWARENESS
 Closet Park has entered the market and it‟s the best tailor one women can ever have in
Bangladesh.
 Closet Park is a the first ever commercial online tailor for women fashion wears.
 We provide the most recent trendy outfit just the way our consumer wants at a very
affordable price.
 We specialized in making western (modern) outfits at an affordable price range whose
are usually so much expensive and most importantly the regular tailors can‟t make it for
the customers.
EDUCATE AND TRUST BUILDING
 Teaching the consumers how to use www.closetpark.com
 How to take manual measurement
 Fabric selection and identification
 Tailor experience and supplies consent
 Reviews and feedbacks
 Video Campaign on the user experience journey
 Customer convenience
PURCHASE
 In this stage, we will push our product and services to our consumers.
 Discounts and offers
 Promo and referral
 Call to action ads
VALUE BASED BTL:

We will arrange several BTL activities that connects our brand to our consumers. For example:
University Road shows and stalls to show and explain the service and its offerings
Sponsoring a fashion designing national competition to enhance the industry
Attending fairs and make instant clothing for the audience
Guerrilla marketing in women events.
CORPORATE SOCIAL RESPONSIBILITY:

We will show our gratitude to the society as well by doing a number of CSR activities. For
example:
 Donating Money to the underprivileged

 Making clothing for free for the needy ones with our one fancy fabric and tailors.
CROWDSOURCING AND CO-CREATION:

We will launch a campaign where we will encourage consumers to come up with their own
design of products and share them through their social media. The highest appreciated design
will be launched under our brand umbrella and the creator will get a royalty for each unit sold.
Campaign Theme: “Build your own line of Fashion”

Influential Marketing
We will use several opinion leaders to promote our brand amongst their social network. For
example: SAFA KABIR, TISHA etc. to reach the message and trust among the customers.
YouTubers are also a viable option for us here.
Affiliate Marketing and Community marketing:

We will use other website, channels and blogs to promote our business through ads based on the
female consumer preferences – Affiliate Marketing.
We will also make an online community which will host all the loyal consumers of ours and
provide them with the dynamic personalized offers.
Personalization:
As consumers can try out products and choose whatever they want, we can take this data and by
analyzing these data we can provide personalized contents towards the exact consumer.
Channels for implementation:
The channels that we are going to use are:
 Social Media Platform. Ex: Facebook, YouTube, Instagram, Snap Chat

 Search Engine: Google, Bing, Mozilla
 PR
 Website UX/UI
Tools for implementation:
The tools that we will use to reach our desired customers through various channels are:
 Google ADwords
 Google Analytics
 Google Merchant Center
 Google Shopping Advertisement
 SEO/SEA
 Google Display Network
 Facebook and Instagram Analytics
 Using CRM
Packaging:
To deliver the product to our customer we will have a very dynamic designed shopping bag that
will not only serve for the protection of the product but also will:
Act as a marketing tool as there will be a discount coupon or a lucky draw code or can be
referral code that the consumer can pass it to others
Other than that, it will have a handwritten note delivered on the packaging bag for each
buyer.
The bag will be designed perfectly.
It will be water resistant to protect the product.
It will have a unique QR code that can track your bag anytime, if a customer files a
complaint.
Organizational Plan
Form of Ownership
There are five key partners form this business as a partnership business. All five members are
individually liable for business liabilities. However, to reduce the risk and greater productivity
this business step forward as a limited liability corporation (LLC) where the partners are not
personally liable for amount of debt as well as the liabilities. At the same time (LLC) also
facilitated through flow of taxation to the members as feature of partnership.
The main reason behind choosing the LLC because, it followed through the ownership structure
and limit the liability of each principle‟s personal. On the other hand, form of LLC distinguish
from general partnership as the business is design as an asset of the company. This consequence,
owners are benefited from debt and liabilities of the company. Limited Liability Company is a
combination of corporation and partnership or sole proprietorship characteristics.
Furthermore, the responsibilities of all partners have remained same, and functions are similar to
a partnership in terms of the profitability. Additionally, the company pass through the profit to
owner‟s tax return. And losses up to the amount of invested by the owners.
Principle Shareholders
There are five key owners who owns maximum share of the company. Each of them own 10%
equity shares. And shareholders have managed bootstrap financing for each one of share.
Furthermore, Closet Park also look forward to seed funding which is TK. 65,71,000/- from
Grameen Accelerator in exchange of 25% of total equity, and regarding the start-up business
company seek series „A‟ funding and using their robust autonomous marketing channel to reach
out our target market. On the other hand Closet Park also involves one venture capitalist firm
“VD Venture”. From the BD Venture company take their investment as a venture debt which
they managed to arrange Tk.65,71,000/- amount of cash as a loan with 8% interest for 5 years
and when the amount is paid back then the BD Venture hold only 3% of the equity share, until
then they hold 25% equity share of the company. Since all shareholders own a certain portion of
shares all of them have one member voting right which is a simple process „one member, one
vote‟.
Members of the board of director

As a LLC we set up a management structure as board to open up an opportunity to discuss
relevant issues for instance annual meeting. The board consists of five members.
Terms of Agreement
Capital Contribution
Initial Contribution: The member of the company initially contributed their capital equally as
each hold same amount of share.
Additional Contribution: Any additional contribution to the company prohibited for any
member without written consent of all members.
No Interest on Capital Contribution: Members are not obligated to entitle any form of
compensation or interest for an account of their capital contribution to the company except to the
extent if any, expressly provided in this company.
Allocation of Profits and Losses: Distribution
Profit/Losses: In terms of account and tax purpose, the net profit or losses of the company‟s
shall be determined on an annual basis and allocated among the members in proportion to each
member‟s relative capital interest in the company.
Distribution: The member shall determine distribute available funds annually at more frequent
interval as they fit. Mangers determine the available funds , as referred to herein, shall mean the
net cash of the company available after appropriate provision for expense and liabilities.
Board of directors
Five out of seven LLC‟s members are holding the director position in the board.
Director 1: Talha Mohaimen Adittya (CEO)
Director 2: Tasneem Nawer Angel (CMO)
Director 3: Nur-Ul (CFO)
Director 4: Anayetul Haque (BD Venture)

Director 5: Sharifullah Jawani (Grameen Accelerator)
Authority of Principals:
Principals Authority of Principals
Md. Talha Mohaimen Adittya General partner, Full Authority
Tasnim Nawar Angel General partner, Full Authority
Nur-Ul Alam General partner, Full Authority
Musharrat Rahman Badhan General partner, Full Authority
Syed Asif Adnan General partner, Full Authority
Check Signing Authority: Only CEO and Finance director are obligated to authorize any kind
of signing check for the company. They hold the supreme authority of any type of business
transaction.
Members of the Management Team

Name: Md. Talha Mohaimen Adittya
Email: talha.223@gmail.com
Talha Mohaimen Adiitya completed his graduation from North South University. He has
concentration on Marketing. He has an ample amount ok knowledge and experience on this filed.
He is also the founder of Markedium and Co-founder of TellTale. He worked as marketing
analyst for Crossword Marketing and communication for several years. He also worked with
Nestle, BAT, Japan Tobacco and Ecstasy. Therefore, he has enough knowledge and experience
to run the business smoothly. His immense determination and versatile expertise aid the
company towards reaching its goal.
Name: Tasnim Nawar Angel
Address: House:63, road:5, block: C Monsurabad Housing adabar,Dhaka-1207

Tasnim Nawar Angel completed his graduation from North South University with a single
major in the field of Marketing. He is the founder and Vice President (marketing) of
jossdeals.com. Currently he is working as a personalized Internet assessor in Bangladesh for
Lionbridge Technologies, Inc. He is also working with Unilever Bangladesh Limited. He also
enhanced her teamwork and leadership skills through years of communication with people from
various corporations. Tasnim always dreamt to be an entrepreneur and he wants to prove himself
through Closet Park and want this company to make one of the best online tailoring services in
Bangladesh through his knowledge, aspiration and hard work.
Name: Nur-Ul Alam
Nur-Ul Alam completed his graduation from North South University with a dual major in
Finance and International Business. Closet Park.He is also accountable for the financial
responsibilities of the business. To assess whether a certain investment is essential and if so, how
to finance this and whether it will be sustainable (profitable for the business). Everything has to
be taken care of by the CFO and it is also the CFO‟s responsibility to give a good financial
breakdown of the business. He loves to play with numbers but he maintains a very good
relationship with his superiors, coordinates and team members. He has also enhanced his
teamwork and leadership skills through years of communication with people from various
corporations.
Name: Musharrat Rahman Badhan
Address: Road:3, House no:D/33, west rampura, Mohanagar project, Dhaka- 1219
Musharrat Rahman Badhan completed her Major in Human Resource management. She has
chosen to be the head of HR because she loves to work with people and always wanted to be
around people and work with them. Previously, she worked in her university‟s student clubs and
this built her up knowing people, managing events and working with different minds. She has
special training in how to deal with people, work with them, communicate as well as manage
people from different races and communities. She has also proved herself to be a worthy
strategic planner. Musharrat has the zeal to update her knowledge on latest practices and trends
in human resources. With her knowledge and expertise, the company deals with the daily
challenges that arise in the organization.
Name: Syed Asif Adnan
Address: 89, Senpara parbata, Mirpur-10, Dhaka-1216
Email: saahaque819@gmail.com
Syed Asif Adnan got oriented to the business environments from a very early age as his father
himself was a successful businessman. Asif graduated from North South University with a
degree in Human Resources Management and Marketing. His academic knowledge and business
skills is second to none in the industry. These abilities enable him to cope with obstacle
effectively. Moreover, the position he placed himself as Head of Production Management is
perfectly settled with his knowledge and experience he acquire. Furthermore he had a lucrative
job with 5 years of experience as production manager in Adams Apparel (RMG factory).
Roles and Responsibilities

Each member has different types of roles and responsibilities in the company.
Chief Executive Officer (CEO)
Leader
 Advises the Board

 Advocates org. and stakeholder change related to org. mission.
 Supports motivation of employees in organization products and programs and operation.
Vissionary Bearer
 Ensures staff and board have sufficient and up to date information

 Looks to the future for change opportunities
 Interfaces between Board and employees
 Interfaces between organization and community
Decision Maker
 Formulates policies and planning recommendations to the Board

 Decides or guide courses of action in operations by staff
Manager
 Operations of organization
 Implements plans
 Manages human resources of organization
 Manages financial and physical resources
Board Developer
 Assist in the selection and evaluation of board members

 Makes recommendations, support Board during orientation and self-evaluation
 Supports Board‟s evaluation of Chief Executive
Chief Marketing Officer (CMO)
 “Listen” to the trends of the market and direct the market research efforts of the
company.
 Liaise with other departments to guide a unified approach to customer service,
distribution etc. that meets market demands.
 Define marketing strategies to support the company‟s overall strategies and objectives
 Develop a feasible marketing plan for the department and oversee its day-to-day
implementation.
 Plan and organize marketing functions and operations (Product development, branding,
communication etc.) and ensure they project the company‟s unique “voice”.
 Design and coordinate promotional campaigns, PR and other marketing efforts across
channels (digital, press etc.).
 Build a highly efficient team of marketing professionals.
 Create a solid network of strategic partnerships.
Chief Finance Officer (CFO)
Planning
 Assist in formulating the company‟s future direction and supporting tactical initiatives.
 Monitor and direct the implementation of strategic business plans
 Develop financial and tax strategies
 Manage the capital request and budgeting processes
 Develop performance measures that support the company‟s direction
Operations
 Participate in key decisions as a member of the executive management team

 Maintain in-depth relations with all members of the management team
 Manage the accounting, human resources, investor relations, legal, tax, and treasury
departments.
 Manage any third parties to which accounting or finance functions have been outsourced.
 Oversee the company‟s transaction processing systems
 Implement operational best practices
Financial Information
 Oversee the issuance of financial information.

 Personally review and approve all form financial transactions.
 Report financial results to the board of directors.
Funding
 Monitor cash balances and cash forecasts.

 Arrange for debt and equity financing.
 Invest funds.
 Invest pension funds.
Head of Human Resource
 Develop organization strategies by identifying and researching human resources issues;

contributing information, analysis, and recommendation to organization strategic thinking
and direction; establishing human resources objectives.
 Implements human resources strategies by establishing department accountabilities,
including talent acquisition, staffing, employment processing, compensation, health and
welfare benefits, training and development, safety and health, record management,
succession planning, employees relations and retention, and labor relations.
 Manages human resources operation by recruiting, selecting, orienting, training,
coaching, counseling, and disciplinary staff, planning, monitoring, appraising and
reviewing staff job contributions.
 Accomplish special project results by identifying and clarifying issues and priorities,
communicating and coordinating requirements; expediting fulfilment; evaluating
milestone accomplishment.
 Support management by providing human resources advice, counsel, and decision;
analysing information and applications.
Head of Production Management
 Planning and organization product schedule

 Assesing project and resource requirements
 Estimating, negotiating and agreeing budgets and timescales with clients and managers.
 Ensuring that health and safety regulations are met.
 Determining quality standards.
 Overseeing production processes.
 Re-negotiating timescales or schedules as necessary.
 Selecting, ordering and purchasing materials.
 Organising the repair and routine maintenance of production equipment.
 Supervision the work of junior staff.
 Organising relevant training sessions.
Compensation of Management
First Year
Position Salary
CEO TK. 30,000/-

CMO TK. 25,000/-
CFO TK. 25,000/-
Head of Human Resource TK. 25,000/-
Head of Production Management TK. 25,000/-
Despite closet Park is a start-up, the base salary of these position is very low in the first year.
Once, the company will reached the break even and experiencing profit the salaries will
increased 1% of the total net income and enable the leave bonus, festival bonuses, sick leave,
gratuity.
Risk Assessment
Evaluate weakness (es) of business

Closet Park is a completely new brand in the market and that itself is one of our weaknesses. To
build brand recognition and create customer awareness we need time and hence we do not have
the strong reputation at present in the market. Secondly the company resources and the capital
are limited and we have a restricted budget. Thirdly, we do not have the credibility or much
negotiating power with the distributors and suppliers. And though we have superior technology,
traditional outlets are more effective than online shopping in our country.
New technologies
Arrival of new technologies are relating to the perception of RFID solutions are evolving at a
rapid pace. Therefore, there is always a slight probability that another new technology emerges
that obsoletes certain background components of the project. RFID-ROI-SME commits to
monitor such developments (through the technical management team), being also ready to adapt
the initial plan with a view to incorporating new developments that could be beneficial to the
project‟s success. Technologically the project must be aware of advancements and affecting
factors and developments. It is also noteworthy that the modular architectures and evolution
plans of the project do not depend on particular technology. Also, they do not rule out the
incorporation of new technology developments. Risks within the Consortium involve risks
related to the common work and the interactions of the partners and the coordinator.
Contingency plans
In case an issue arises, resulting in a breach of contract between the suppliers or the delivery
service providers, Closet Park has developed alternative contingency plans. If an issue with too
many different sizes for order occurs, Closet Park will use pre-cut clothes to make sure every
design of dress have at least Small, Medium and large size prepared beforehand. So that
customers don‟t get dress that doesn‟t fit.
Financial Plan for Closet Park
Financial aspects of Closet Park are explained and briefly described below:
Forecasted Annual Cost of Goods Sold
Category Line Range of Cost Average Annual Unit Annual

(BDT) Cost of per sold for COGS
line/product 2018-2019 BDT
Ethnic Mix & Match 600-900 700 555 3,88,500
Suit Sets 1500-1800 1600 430 6,88,000
Suit Sets 2500-3500 3000 250 7,50,000
with
Additional
Design
Easy Stich 600-800 700 650 4,55,000
Total Annual 22,81,500
COGS for
Ethnic
Category
Western Regular 900-1700 1400 1200 16,80,000
(Modern)
Formal (A1) 18000-22000 19500 270 52,65,000
Formal (A2) 8000-10000 9000 320 28,80,000
Formal (A3) 3500-4500 4000 430 17,20,000
Total Annual 1,15,45,000
COGS for
Western
Category
Customized Western 3500-8000 7000 52 3,64,000
Formal
Ethnic 2000-2500 2350 310 7,28,500
Modern 1500-2000 1770 430 7,61,100
COGS for
Western
Category
Total COGS 1,56,80,100
Forecasted Annual Sales Revenue
Category Line Range of Price Average Annual Annual

(BDT) Price of per Unit sold Sales
line/product for 2018- BDT
2019
Ethnic Mix & 1000-1500 1100 555 6,10,500
Match
Suit Sets 2500-3500 3000 430 12,90,000
Suit Sets 4000-5500 4500 250 11,25,000
with
Additional
Design
Easy Stich 1000-1500 1200 650 7,80,000
COGS for
Ethnic
Category
Western Regular 1500-3500 2500 1200 30,00,000
(Modern)
Formal (A1) 25000-35000 27000 270 72,90,000
Formal (A2) 10000-15000 13000 320 41,60,000
Formal (A3) 5000-7000 5500 430 23,65,000
Total Annual 1,68,15,000
COGS for
Western
Category
Customized Western 7000-15000 10,000 52 5,20,000
Formal
Ethnic 3500-6000 5000 310 15,50,000
Modern 2500-3500 3000 430 12,90,000
COGS for
Western
Category
Total Sales 2,39,80,000
Revenue
Gross Profit:
Total Annual Sales Revenue- Total Annual COGS = 2,39,80,000-1,56,80,100 = 82,99,900/=
(Eighty-Two Lakhs Ninety-Nine Thousand Nine Hundred Taka only)
Assumption Sheet:
Details No of Units Unit Cost Total Amount
Fixed Costs
Registration ------------ --------------- 35,000

Trade License 8,000
Trademark, logo, Name 10,000
Bank A/c Opening 1,000
Factory Lease (Advance) 15,00,000
Office lease (Advance) 5,00,000
Machineries 28 47,00,000
ERP Install 1 12,33,000 12,33,000
EDI Install 1 5,13,000 5,13,000
Technological (Website, 8,64,000
Domain, Hosting, VR
trial room and other
VRs)
Office Infrastructures 12,31,000
Factory Infrastructures 8,73,000
Total Fixed Cost 1,14,68,000
Administrative Expenses Monthly Cost Yearly Total
Petty Cash Fund Monthly 5000 60,000

Salaries Monthly 8,63,000 1,03,56000
Factory Rent Monthly 70,000 840,000
Office Rent Monthly 50,000 600,000
Utility Cost Monthly 50,000 600,000
Maintenance-Factory Monthly 25,000 300,000
Maintenance- Office Monthly 15,000 180,000
Marketing Cost Monthly 1,50,000 18,00,000
ERP/EDI Maintenance Yearly 20,000 20,000
Phone Bills Monthly 5,000 60,000
Total Administrative 1,48,16,000
Cost
Total Financing Needed 2,62,84,000
Source of Financing:
Source of Financing for Closet Park:

Type Share Amount
Equity Investment 25% 65,71,000
(Grameenphone)
Venture Debt (BD Venture 25% 65,71,000
Ltd)
Owner‟s Contribution 50% 1,31,42,000
Owners Contribution:
Type Share Amount

Owner 1 10% 26,28,400
Owner 2 10% 26,28,400
Owner 3 10% 26,28,400
Owner 4 10% 26,28,400
Owner 5 10% 26,28,400
Venture Debt Analysis:
Amount of Debt 65,71,000

Interest Rate 8%
No of Years 5
Loan Payment/Year 14,19,336
Pro Forma Income Statement
Details 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Sales Revenue 2,39,80,000 4,59,76,000 6,31,54,000 6,87,65,000 8,97,76,000

COGS 1,56,80,100 2,57,31,300 3,38,45,000 3,81,11,000 4,11,43,000
Gross Profit 82,99,900 1,62,44,700 2,93,09,000 3,06,54,000 4,86,33,000
Less Operating
Expenses
Petty Cash Fund 60,000 70,000 80,000 90,000 100,000
Salaries 1,03,56000 1,45,70,000 1,90,80,000 2,30,70,000 2,45,34,000
Factory Rent 840,000 840,000 8,40,000 12,43,000 12,43,000
Office Rent 600,000 6,00,000 6,00,000 8,00,000 8,00,000
Utility Cost 600,000 7,00,000 8,00,000 9,80,000 11,00,000
Maintenance- 300,000 300,000 350,000 400,000 450,000
Factory
Maintenance- 180,000 200,000 220,000 240,000 260,000
Office
Marketing Cost 18,00,000 20,00,000 10,00,000 11,00,000 13,00,000
ERP/EDI 20,000 40,000 60,000 80,000 80,000
Maintenance
Phone Bills 60,000 130,000 150,000 180,000 200,000
Less Interest-
Loan Payment
Loan Payment 14,19,336 14,19,336 14,19,336 14,19,336 14,19,336
Total Operating 1,62,35,336
expense
Net Profit/Loss 79,35,436 46,24,636 47,09,664 14,51,664 1,71,46,664
Cash Flow Projection

Details 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Revenue 23980000 45976000 63154000 68765000 89776000
Disbursements
Registration 35,000
Trade License 8,000
Trademark, logo, Name 10,000
Bank A/c Opening 1,000
Factory Lease (Advance) 1500000
Office lease (Advance) 500,000
Machineries 4700000
ERP Install 1233000
EDI Install 513000
Technological (Website, 864,000
Domain, Hosting, VR trial
room and other VRs)
Office Infrastructures 1231000
Factory Infrastructures 873,000
COGS 15680100 25731300 33845000 38111000 41143000
Petty Cash Fund 60,000 70,000 80,000 90,000 100,000
Salaries 10356000 14570000 19080000 23070000 24534000
Factory Rent 840,000 840,000 840,000 1243000 1243000
Office Rent 600,000 600,000 600,000 800,000 800,000
Utility Cost 600,000 700,000 800,000 980,000 1100000
Maintenance-Factory 300,000 300,000 350,000 400,000 450,000
Maintenance- Office 180,000 200,000 220,000 240,000 260,000
Marketing Cost 1800000 2000000 1000000 1100000 1300000
ERP/EDI Maintenance 20,000 40,000 60,000 80,000 80,000
Phone Bills 60,000 130,000 150,000 180,000 200,000
Loan Payment 1419336 1419336 1419336 1419336 1419336
Total Disbursement 43,383,436 46600636 58444336 67713336 72629336
Cash Flow 19,403,436 624636 4709664 1051664 17146664

Beginning Balance 26284000 6,880,564 6255928 10965592 12017256
Ending Balance 6,880,564 6255928 10965592 12017256 29163920
Prom Forma Balance Sheet
Details 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Assets
Cash 6,880,564 6255928 10965592 12017256 29163920

Fixed Assets
Registration 35,000 35,000 35,000 35,000 35,000
Trade License 8,000 8,000 8,000 8,000 8,000
Trademark, logo, 10,000 10,000 10,000 10,000 10,000
Name
Bank A/c Opening 1,000 1,000 1,000 1,000 1,000
Factory Lease 1500000 1500000 1500000 1500000 1500000
(Advance)
Office lease 500,000 500,000 500,000 500,000 500,000
(Advance)
Machineries 4700000 4700000 4700000 4700000 4700000
ERP Install 1233000 1233000 1233000 1233000 1233000
EDI Install 513000 513000 513000 513000 513000
Technological 864,000 864,000 864,000 864,000 864,000
(Website, Domain,
Hosting, VR trial
room and other VRs)
Office Infrastructures 1231000 1231000 1231000 1231000 1231000
Factory 873,000 873,000 873,000 873,000 873,000
Infrastructures
Total Fixed Assets 11,468,000 11,468,000 11,468,000 11,468,000 11,468,000

Total Assets 18,348,564 17,723,928 22,433,592 23,485,256 40,631,920
Liabilities
Venture Debt 1419336 1419336 1419336 1419336 1419336
Owner's Equity 0 -7935436 -12560072 -7850408 -6398744
Retained Earnings -7935436 -4624636 4709664 1451664 17146664
Total Liabilities and -6516100 -11140736 -6431072 -4979408 12167256

Owners Equity
Break Even Analysis
As we can see, Closet Park is expecting a sustainable growth from third year and is projected to
gain utmost profitability within next 5 years. So, we are expecting to have our break-even point
somewhere near 4.5 years. Because from the pro forma balance sheet we can see the owners‟
equity is negative after year 4 but it‟s going to be positive just after the ending of year 5.
Hereby, the approximate break-even point will be reached by Closet Park after 4.5 years.
Appendix
Partnership Deed
This partnership agreement is made on 21 April, 2018 between Md.Talha Mohaimen Adittya
(Party-1), Tasnim Nawer Angel (Party-2), Md. Nur-Ul Alam (Party-3), Musharrat Rahman
Badhan (Party-4) and Syed Asif Adnan (Party-5).
Name of the Business
The parties hereby form a partnership under the name of “Closet Park.”
Term
The partnership shall begin on 21st April, 2018 and shall continue until termination.
Capital
The capital of the partnership shall be contributed in cash by the partners as follows:
A separate bank account shall be maintained for each partner.
Neither partner shall withdraw any of their capital account.
Upon the demand of each partner, the capital accounts shall be maintained at all times in the
proportion in which the partners share in the profits and losses of the partnership.
With the exception the principal partner the amount of capital to be invested by each partner
would be 26,28,400 BDT. The total amount to be invested would be 2,62,84,000 BDT.
If needed, the partners will invest extra capital on equal proportion if situation demands it.
Profit and Loss
The net profits of the partnership shall be divided equally between the partners and the net losses
shall be borne equally by them. A separate income books shall be maintained for each partner.
Partnership profit or losses will be adjusted amongst the partners from the reserve amount they
have put in the account, and that will be their capital account.
Management Duties and Restriction
The partners shall have equal rights in the management of the partnership business; each partner
shall devote their maximum time to the conduct of the business. Without the consent of the other
partners neither partner shall on behalf of the partnership borrow or lend money, or make,
deliver, or accept, any commercial paper, or execute any sort of loan, or purchase or contract to
purchase, or sell or contract to sell any property for or of the partnership other than the type of
property bought and sold in the regular course of the business. If any dispute arises in the
decision making, then all the partners will summon and agree on a vote, and if agreement cannot
be reached on that, the partners will go forth with the decision of the principal partner.
Books
The partnership books shall be maintained at the principal office of the partnership, and each
partner shall at all times have access there too. The books shall be kept on a day to day basis, and
shall be closed and balanced at the end of each day. An internal audit shall be made as of the
closing date.
Voluntary Termination
The partnership may be dissolved at any time by agreement of the partners, in which event the
partners shall proceed with reasonable promptness to liquidate the business of the partnership or
the capital of the partner who wants to quit the partnership name in that case will remain to the
partners still involved with the business. And if all partners decide to terminate all assets with the
name will be sold, and the assets of the business will be distribute in the following order:
a) To pay or provide for all partnerships liabilities and liquidating expenses and obligations;
b) To equalize the income accounts of the partners;
c) To discharge the balance of the income account of partners;
Death
Upon the death of any partner, the deceased partner‟s family will receive the credit all the
liabilities the partnership owes to the partner, but the profit will be distributed equally amongst
the other partners who are alive.

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MGT 368

Date of Submission: 21 April, 2018

Shabnin Rahman Shorna (Srs3) Md. Nur-Ul-Alam 1211005 030

North South University Musharrat Rahman Badhan 1411746030

Syed Asif Adnan 1320057030

Shabnin Rahman Shorna (SRS3)

North South University,

Subject: Submission of Business Plan on “Closet Park”

Tasnin Nawer Angel – 121 0347 042

Md. Talha Mohaimen Adittya – 142 1438 030

Musharrat Rahman Badhan – 141 1746 030

Md. Nur-Ul Alam – 121 1005 030

NAME AND ADDRESS OF THE BUSINESS

Name: CLOSET PARK

Factory location: Road:240, Godnail, Bhuiyanpara, Siddhirganj,Naraygonj Bangladesh-1430.

Office location: House:186, lane:2, Mohakhali DOHS.

Name(s) and address(s) of the principal(s)

(Founder and Chief Executive Officer of Closet Park)

Address: 750/B Adabor, Mohammudpur,Dhaka-1207

Phone number: 01761972554

2. Name: Tasnim Nawar Angel

(Chief Marketing Officer of Closet Park)

Address: House:63, road:5, block: C Monsurabad Housing adabar,Dhaka-1207

3. Name: Nur-Ul Alam

(Chief Finance Officer of Closet Park)

Address: 6/7/B Eskaton Garden Road,Ramna,Dhaka

Phone Number: 01973010719

4. Name: Musharrat Rahman Badhan

(Head of Human Resource)

Phone Number: 01686796581

5. Name: Syed Asif Adnan

(Head of Production Management)

Address: 89, senpara, parbata, Mirpur-10, Dhaka-1216

NATURE OF THE BUSINESS

Industry: tailoring and boutique

STATEMENT OF FINANCING NEED

STATEMENT OF CONFIDENTIALITY OF THE REPORT

THE BUSINESS MODEL CANVAS

Category Line Average Projected Price

Western Regular (Modern) 2500

Custom Made Western Formal 10000

BUSINESS ENVIRONMENT ANALYSIS

ANALYSIS OF THE DOMESTIC BUSINESS

What new products have been introduced?

CLOSET PARK BUSINESS OPERATION

Analysis of the competitors:

Economical Factor Analysis

Social and Cultural Factor Analysis:

Technological Factor Analysis

Legal Factor Analysis

Environmental Factor Analysis

PORTER’S FIVE FORCES ANALYSIS OF ONLINE TAILORING AND

d. Access to Distribution Channels: It refers to the access to favorable locations, proprietary

Threats of Substitute Products:

Intensity of Rivalry among existing competitors

Bargaining power of buyers

Bargaining power of suppliers

SWOT ANALYSIS OF CLOSET PARK:

Stakeholder Analysis of Closet Park:

Analysis of the company (Closet Park):

Analysis of the competitors:

Analysis of the customers:

DESCRIPTION OF THE VENTURE

Office equipment and personnel: