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PROPOSALS, ESTIMATES AND REQUIREMENTS FOR THE ESTABLISHMENT OF A LAUNDERING FIRM

PROPOSALS, ESTIMATES AND REQUIREMENTS FOR THE ESTABLISHMENT OF A LAUNDERING FIRM



CHAPTER ONE
 1.0      EXECUTIVE SUMMARY
The following report and recommendation relate to the proposals, estimates and requirements for the establishment of a Laundering firm; call it Noble laundering Clinics.
“The proposed profit is to be fully implemented with an investment of N17, 871,000. “Our vision ranges from making a difference in the world of Ton man through cleanliness which is equal to Godliness for the teeming population in Nsukka to spanning through and taking over the country and the entire Africa and becoming a leading name in Laundering production and supplies in Africa and beyond”. “Our mission, in a nutshell, is to satisfy the unquenchable needs for Laundering in our continent and curtail to the barest minimum, the over-dependence on local Laundering services in Nigeria.

•           The proposed project will be located at Nsukka, Enugu state.
•           The primary market for our product is Nsukka and the reforms close to it.
•           It has positive projection of net liquidity inflow. On the average every Ni that leaves the firm returns about N15.
•           The competitive edge of this firm is its low transport cost and quality products: amongst others.


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CHAPTER TWO
2.0 BACKGROUND
NOBLE Laundering Clinics is a start-up firm that will show production establishment that will be located in the heart of Nsukka metropolis. Laundering Clinics expects to catch the interest of a regular loyal customer base with its broad variety of making a difference local Laundering Clinics services. The firm plans to build a viable market position in the central area of Nsukka, due to the partners’ wealth of experience, availability of the major raw material (i.e. water, perfumes, washing starch,) and a mild competitive climate in the area. NOBLE Laundering Clinics aims to produce and offer’ its product at a competitive price to meet the insatiable demands of the teeming middle-to higher-income royals, lectures & students of the University of Nigeria, Nsukka, the enormous secondary schools’ students, the local market are residents and tourists alike.
The high demands of these products form the focal necessity for the operationalisation of this company.

2.2 VISION AND MISSION
“Our vision ranges from producing making a difference in the world of the teeming population of Nsukka to spanning through and taking over the country and the entire Africa and becoming a leading name in Laundering Clinics and supplies in Africa and beyond”
“Our mission, in a nutshell, is to satisfy the unquenchable needs for Laundering in our continent and curtail to the barest minimum, the over-dependence on foreign confectioneries”.
2.3       OWNERSHIP OF THE ENTERPRISE
NOBLE Laundering Clinics is jointly owned by five partners that include the following:
1.         MR. A
2.         MR. B
3.         MR. C
4.         MR. D
All in the department of Education and Mathematics of the University of Nigeria, Nsukka.
2.4 LEGAL STATUS
The name company have met the required criteria given by the corporate Affairs Commission (CAC), Abuja and is awaiting its formal incorporation.
2.5 LOCATION AND FACILITIES
The enterprise would be situated or located within the heart of Nsukka metropolis for a start due to the availability of lucrative market with the hope of spanning in subsequent of years.
The basic facilities of the enterprise shall include a leased land, an erected structure, processing machines, power, supplying generating set, haulage van and furniture.
2.6       PRODUCT AND SERVICES
2.6.1   PRODUCT DESCRIPTION
            NOBLE Laundering Climes would be ingenious and standout from intensive competitive due to its well patterned stratagem in Laundering Clinics. Making/production coupled with its varieties of products in well dress forms and neatness.
Our products are;
1.         Spread Starch
2.         Bags Detergent
3.         Cartons of Perfumes
4.         Cartons of colorants
5.         Prepared and well packet occasional clothes
Different Perfumed Detergent

2.6.2. SERVICE DESCRIPTION
            Having observed that our teeming market have been infiltrated by adulterated Laundering local outlets, our firm tends to package services aimed at bringing our products to the doorsteps of our targeted consumers.
 
             Besides, the company tends to offer supplies of our products at
offices, markets, stores and schools.
2.6.3 INDUSTRY DESCRIPTION
            It is evident that there is none of a kind of our establishment in this pa of the country. Hence, the desire of our company to exploit this advantageous opportunity to break even and bring this products closer to customers at very affordable prices.
Furthermore, students, pupils and the local residents consume a lump quantity of these products on daily basis and this necessitates the sitting of the industry.

2,7 BUSINESS STRATEGY
            With the dominant target market in mind, NOBLE Laundering Clinics has as its major business stratagem, a personal and expedient customer service at a very competitive puce which is the key for our maintaining the local market share of this target market. 


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2.8 KEY SUCCESS FACTORS
Considering our vision ad mission, NOBLE Laundering Clinics has as its key success factors, the following.
a)         Effective and efficient services
b)        Cordial Employer-employee relationship.
e)         Mutual Producer-Customer relationship
d)        Competitive pricing
e)         Production of new varieties
f)         Annual Bonanza
g)         Primary colonizer of Nsukka metropolis with Laundering Clinics products.
h)        Cost effective production technique.
i)         Least cost in product distribution as compared to imported products.

2.9 REVENUE BASE
NOBLE Laundering Clinics has as its revenue base the following:
a)         Partners’ savings for initial capital and running cost
b)        Sales of products, and
c)         Other home services

CHAPTER THREE
3.0                                              MARKET AND CLIENT
3.1       NATURE AND SIZE
            There is no gainsaying the fact that a majority if the inhabitants of Nsukka metropolis are the royal, bossiness men and women, students and pupils, and the consumption of NOBLE Laundering Clinics on a high demand, our firm proposes a large function of production to serve for these teeming consumers.
            Though it will never be a lucky dip affair or the chase of the wild goose, we are ready to Lake the bull by the horn.
3.2 TARGET CLIENTS
            Our major cynosure is the teeming royals, lectures students and pupils within and outside Nsukka; metropolis. Our major clients not withstanding, we intend extending our services to the local resident of Nsukka, Enugu State and e country a large and then, later spread these services to our neighboring countries and beyond,
KEY COMPETITORS AND PLAYERS
            NOBLE Laundering Clinics is the first of its kind in the business of Laundering Clinics here in Enugu, so there are no key competitors at present as all consumable clothe Laundering Clinics within Nsukka.

            Indeed, we are not ignorant of the fact that competitors would definitely emerge, but till then, our strategy and service are there to aid our favorable competition.
3.4       PRODUCTION PROCESS
The firm is expected to produce a maximum of 50 bags of perfumes, 4000 packets of Spread Starch and other item in maximum projection etc.

3.5       SERVICE DELIVERY
            As part of the aims and objectives of the establishment of this business venture, NOBLE Laundering Clinics” we shall concentrate mainly at the production level. This is in line with maintaining the conventional product →wholesaler→ retailer→ consumer chain. The aim of this choice is employment generation for the populace of Nsukka.
            However, at special demand made directly on the firm we shall carry out the supply functions.
3.6. QUALITY ASSURANCE
            Simultaneously, while seeking to maximize profit among other things, we shall ensure that our products are health friendly. By way of formalities, we shall establish a quality assurance department that will be responsible for whatever enters the market from our firm.
3.7 DEMAND/SUPPLY ANALYSIS
            Actually, the choice to establish “NOBLE Laundering Clinics” was not independently motivated. Our last survey shows that the populace of Nsukka, on the average, spends reasonably on washing their special clothe for occasions and other outing events.
            Our product will create an initial monopoly in the market because of least cost advantage. This least cost advantage will be felt in the high demand for our products and on the supply size we shall do our best to control the entire market.

3.8 TECHNOLOGY
            This is one area we believe will also help consolidate our hold of Nsukka and its environs. We shall employ technologically advanced production processes. Our production process shall be dominated by the use of capital. This will lead to increasing return to scale and reduce cost on the average and in relative terms.
            Also, research and development shall be a critical obligation of our firm.

3.9.      COMPETITIVE EDGE
            NOBLE Laundering Clinics, a proposed business venture, will be owned and managed by young entrepreneurs who are goal- oriented. We also have among us a marketer, a planer, two managers and an optimist. More to these, we are the first entrepreneurs that will have a firm of this nature at Nsukka.  We have the legal lacking of Corporate Affairs Commission (C.A.C.) and three persons among us have lived in Nsukka and within for a reasonably a long period of time


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CHAPTER FOUR
4.O      MARKETING PLAN
            Our preparation so far in launching this firm has already In itself started the marketing for our products We shall be talking of continuity in marketing when our products start entering the market. Though, the first of its kind in Nsukka, NOBLE Laundering Clinics” shall engage in active awareness creating campaign to consolidate our possible market control, dilute foreign control and at the same time practicing positive competition.

 4.1      PROMOTION AND DISTRIBUTION
            As a way of sang NOBLE Laundering Clinics” has landed, we have internally agreed to issue out cards to major patronize for the first months. Any one who provides seven cards in a month gets one carton of our product free.
            As earlier started, we shall not concentrate on petty trading but bulk supplies to major buyers within and outside Nsukka.

4.2       ALLIANCES
Though, NOBLE Laundering Clinics will be established at Nsukka, estimates and surveys show that the company will be the largest of its kind in Nigeria. We shall unionize with smaller firms at Onitsha, Enugu, Abakiliki, Owerri and other Eastern towns who have gained grounds in the business This will help us expand our market base by meeting up their supply deficiencies.

4.3 MARKET POSITIONING
            As primary colonizers we shall be the market leader and should any firm enter the market in the long-run, we shall maintain our lead as price leaders and others price followers.
4.4       SERVICE DELIVERY STRATEGY
            The active link between us and the final consumers shall be the•’ wholesalers. We shall periodically conduct surveys to ascertain the effect of this chain on the final consumers and review it if and when necessary.         

4.5        SWOT ANALYSIS STRENGTH:
i.          A team of entrepreneurial experts.
ii.         First firm of its kind.
iii.       Low price commodities.
iv.        Legal backings.
WEAKNESS:
Our major weakness is the poor road network at Nsukka.
OPPORTUNITIES:
As primary producer, we can manipulate the community to despise any possible entrance of another Laundering firm and enjoy all the long run benefits.
THREATS:
Our major threat has been identified to include the following
•           The fluctuating weather in Nsukka
•           Bad/Poor road Network
•           The seasonal educational activities
Having noted the above threats, we shall, as part of our strategy, put in everything within our affluence and influence to combat these noted as well as the unnoted threats.

CHAPTER FIVE
5.0       ORGANIZATION AND MANAGEMENT
 5.1      ORGANIZATIONAL STRUCTURE
           As a partnership business NOBLE Laundering have the following structure of a thirty delegation. 
 
5.2 SHARE HOLDERS/DIRECTORS
            The business shall not incur external control in the onset, but could, when necessary. That could be when the expanse has grown wider and foreign.
5.3 MANAGEMENT TEAM
            The management team is made up of the business initiators headed by an internally elected member.
5.4 EXTERNAL SUPPORT
            The project is a large capital project and we wish to acquire loan from the bank to proceed with the establishment of this firm.

5.5 PERSONNEL PLAN
            The Company has made plans to distribute justly what it earns.
She plans to employ 100 workers at a start.
S/N
Position
No
Salary/mouth(N)
Salary/year(N)
1
General manager
1
600,000
720,000
2
Production manager
1
55,000
660,000
3
Marketing manager
1
55,000
660,000
4
Research manager
1
55,000
660,000
5
Personnel manager
1
55,000
660,000
6
Employees
100
1,000,000
12,000,000

5.6 VALUES AND NORMS OF THE COMPANY
            To ensure liquidity, huge market share, employment generation expansion, NOBLE Laundering Clinics has decided to build around the following
i.          To strive to maintain our business within the ambit of government regulations.
ii,         Customers’ satisfaction.
iii.               Profit maximization
iv.        To maintain good human relationship between employee and employers.
v.         To support child education in the community.
vi.        To provide electricity to residents livings zoom around the company.
I
CHAPTER SIX
   6.0    LEGAL REGULATORY, SOCIAL AND ENVIRONMENTAL ISSUES
6.1        LEGAL ISSUES
            The company’s name shall be NOBLE Laundering Clinics”.  It has been registered with the Corporate: Affairs Commission (C.A.C.).
It is a partnership business.
It has been registered and acquired NAFDAC registration number.
 6.2 REGULATORY ISSUES
            The National Food and Drug Administration and Control (NAFDAC) stands to be the only regulatory body that shall be on us.
The community may sometimes impede our activities, may be, an art of culture.
6.3       SOCIAL BENEFITS
            The establishment of this firm will create at least 500 new jobs for the people of Nsukka. In addition to that, working together over time will tend to bring about unity of employees.
6.4       ENVIRONMENTAL ISSUES
Considering the effect of Laundering services using chemical and perfumes in the atmosphere, we adopted a deactivator in out Premises to effectively check these evaporated toxic substances into the environment.
 
                                                CHAPTER SEVEN
7.0       FINANCIAL STATEMENT FOR NOBLE LAUNDERING  CLINICS
7.1       PROJECT COST
The proposed project to be fully implemented with an investment of seventeen million, eight hundred and seventy one thousand Naira only. (N 17, 871, 000.00). The project is broken down into fixed capital value at two, million, three hundred and eighty one thousand Naira (N,381,000) and working capital pf 45 fifteen million four hundred and ninety thousand Naira (N 15,490,000).
The variable coat is estimated for one accounting year,
BREAK DOWN OF FIXED CAPITALS:
ITEMS
COSTS(N)
Perfumes
30,000
Rent
70,000
Mixing machine
15,000
Power generating machine
280,000
Supply van
1,000,000
Washing machines
300,000
Sealer
72,000
Micro drivers
14,000
Borehole drilling
600,000
Total
2,381,000.00

BREAK DOWN OF WORKING CAPITAL FOR ONE YEAR:
ITEMS
COST(N)
Spread Starch
60,000
Bags Detergent
40,000
Cartons of Perfumes
10,000
Cartons of colorants
8,000
Electricity bill
12,000
Wages and salaries
15,360,000
Total
15,490,000

7.2             FUNDING PLAN AND STATEMENT:
            The finding plan for this project is as follows
A. Owners contribution (Equity): An owner of the business
I have internally generated the sum of twelve million Naira only
N 12, 000,000.
B. The residual or spread between N 17; 871,000 and N 12, 000,000; N5, 871,000 shall be sources from financial institutions.
7.3       FUNDING REQUIREMENT
The funding requirement f& this project is N5, 871,000.
acquisition

-

Cost of sales
130,000
i6o,ooo
i8o,00o
Operating sequences
21,077,100
12,398,700
18,922,100
Depreciation:
108,280
120,000
120,000
Total outflow:
23,696,380
21,678,700
19,222400
Net cash flow:
23,084,620
10,321,300
20,777,900

7.1       PROFITABILITY ANALYSIS
1.         Return on total investment: for2011
            7,792,900      x          100     =          43.6%
            17,871,000                  1

            Return on total investment:
            10,441,300    x          100     =          58.42%
            17,871,000                  1
            Return on Equity
            10,441,300    x          100     =          87.01%
            12,000,000                  1
3.         For 2013

Return on total investment
19,897,060 X 100    =          111.34%
17,871,000         1
Return on Equity
19,897,060    X 100             =          165.80%
12,000,000         1

                                                            CHAPTER EIGHT
8.0 RISK ANALYSIS. CONTINGENCY AND EXIT STRATEGY
8.1       RISK ANALYSIS
            This venture has been subjected to risk analysis for the purpose of identifying some risks associated thereto. We have, also, proffered mitigates to ameliorate the effects of risks on business.
 S/N
IDENTIFIED RISK
MI TI GANTS
i
Low demand
Good marketing strategy and resent to alternative market.
2
Fire out break
Fire extinguishes will be made in durance policy will be bright.
3
Sudden competition:
Least cost advantage and high quality
products.


8.2 CONTINGENCY PLAN:
            When we enter the market, there may be initial competition from foreign imported goods. To shred off this competition we have to 1. Free quantity discounts
2.         Sell at flat prices3. Flexibility in management
8.3       EXIT STRATEGY
            The business as we believe will work according to plan and at worst have a very minimum deviation. It will generate enough cash to pay-off creditors both for the periods and at maturity (lump sum),
            We do not plan to leave production process but ‘incase environmental and community clashes continuously interrupts productive activities we will exit and find a safer location, or better, still, employ an alternative choice of production.

CHAPTER NINE
9.0       OTHER CONSIDERATIONS, CONCLUSION AND RECOMMENDATIONS ECONOMIC JUSTIFICATION
            This business like every other, seeks profit maximization and simultaneously, it will generate employment that will lead to reduction in poverty. It will also create awareness to the people.
9.2 COMMERCIAL VIABILITY
            The estimates and forecasts show that this planned venture is realizable and economically viable. It shall generate enough sales that will cover its joint costs.
9.3 CONCLUSION AND RECOMMENDATION
            As a way of conclusion, we have analyzed all the humanly possible, deterministic and behavioural nooks and crannies of this venture and found it to be economically viable and desirable.
            The project offers good investment benefits and we therefore recommend financial institutions to invest their funds in it.

CHAPTER TEN
10.0    COMPANY FINANCIAL of LAN
10.1    SCHEDULE OF POPULATION
            For the three years plan and estimates with which NOBLE Laundering Clinics” is analyzed and predicted to stand the average cost of production estimated at N165,000 per yea;
Forecast of sales:
2011
2012
2013
29,000,000
32,000,000
40,000,000
Estimate of cost:
The joint cost structure or requirement of production is N130, 000 for 2011, N160, 000 for 2012 and then 180,000 for 2013.
Fixed assets costs:
The aggregate cost of fixed assets to be incurred is valued at approximates N2, 385,000.
Working capital projection
The vote of capital that will be used up in the production process is averaged at N117, 000 per year for the three years analysis  .
The start-up capital for this venture is approximately  N17, 900,000.
Proposed financial structure:
The structure of financial mobilization for the start-up of “De Nobles’ Confectioneries” is as follows:
Total capital requirement (N17, 900,000). This is split into equity capital of about N 12,000,000 and loan capital of Near N5, 900,000. .           Depreciation Schedule:
Items
Cost
Scrap
Time
Depreciation
Perfumes processor
30,000
2000
5
5600
Mixing machine
15,000
1,200
10
1380
Generator sets
250,000
24,000
10
25,600
Supply van
1,000,000
100,000
20
45,000
Borehole
6000,000
40,000
50
11,200
Washing
14,000
-
20
19,400

Loan repayment and interest payment schedules
Year
Principal
Repayment
Interest
Loan balance
1
5,871,000
3,000,000
587,100
2,871,000
2
2,871,000
2,871,000
2,871,000
0

Projected profit and loss accounts:
2011
2012
2013
Cost
130,000
160,000
180,000
Value of sales
29,000,000
32,000,000
40,000,000
Administrative costs:
21,185,000
21,518,700
19,222,100
Profit or loss A/C
7,684,620
10,321,300
20,777,900


Cash – flow projection
2011
2012
2013
Cash inflows



Owner’s equity
12,000,00
-
-
Loans
5,9000,000
-
-
Turnover
46,900,000
32,000,000
40,000,000
Total inflows
46,900,000
32,000,000
40,000,000




Cash out flows



Fixed assets acquisition
2,400,000
-
-
Cost of production
130,000
160,000
180,000
Operating expenditure
21,100,000
21,400,000
19,000,000
Depreciation
110,000
120,000
12,000

Total outflows
23,740,000
21,680,000
19,192,000
Net outflows
23,160,000
10,320,000
20,808,000

Projected balance sheet:
Liabilities
Assets
Equity :12,000,000
Generator sets 280,000
Loans:5,900,000
Supply van              1,000,000
Moulds                      14,000
Sealer                        72,000
Micro oven                  300,000
Bore hole                     600,000
Total                           2,266,000
Cash at hand -15,634,000
Total: 17,900,000
17,900,000
Financial analysis
            The preceding statement and tables shows the total fund requirements (estimates) of NOBLE Laundering Clinics” for three (3) years span.
            The calculations or estimates are taken for market value adjusted for possible changes in prices.


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