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Business Plan
Helping Hands: Home Services Management Company
Type of Documents : Business Plan No of Words : 7,000
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Table of Contents Executive Summary……………………………………………………………………………1
Introduction ...............................................................................................................................1
Business Concept........................................................................................................................1
Business Plan Structure..............................................................................................................2
Business Name and Address .................................................................................................. 2
Proprietor’s Name and Address ............................................................................................. 2
Business Form ........................................................................................................................ 2
Business Activities ................................................................................................................. 2
Vision and Mission Statement ............................................................................................... 4
PEST analysis ........................................................................................................................ 4
Government Support and Rules and Regulations .................................................................. 5
Rational for Launching the Business ..................................................................................... 5
Market Size and Growth ........................................................................................................ 6
Selection of Location with Reasons Thereof ......................................................................... 7
Proposed Customers............................................................................................................... 7
Competitor Analysis .............................................................................................................. 8
Self Analysis .......................................................................................................................... 8
Competitive Advantages ........................................................................................................ 9
Advertising and promotion Strategy ...................................................................................... 9
Pricing Strategy .................................................................................................................... 10
Various Sources of Finance ................................................................................................. 10
Source Selected for Financing the Business ........................................................................ 11
Key People and Job Functions ............................................................................................. 12
Financial Plan...........................................................................................................................13
Financial Highlights ............................................................................................................. 14
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Forecast Income Statement .................................................................................................. 15
Forecast Cash-flow Statement ............................................................................................. 15
Monthly Cash-flow Forecast ................................................................................................ 17
Forecast Balance sheet ......................................................................................................... 18
Sensitivity Analysis ............................................................................................................. 18
Long Term Strategy of Helping Hands....................................................................................22
Conclusion................................................................................................................................22
References................................................................................................................................24
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List of figures and Tables
Figure 1Sensitivity Analysis based on Sales ........................................................................... 19
Figure 2 Sensitivity Analysis based on Direct Cost................................................................. 20
Figure 3 Sensitivity Analysis based on Fixed Cost ................................................................. 21
Figure 4 Sensitivity Analysis based on all the Factors ............................................................ 22
Table 1 Raw Material (Stock) .................................................................................................. 13
Table 2 Formation Expenses .................................................................................................... 13
Table 3 Working Capital Expenses.......................................................................................... 14
Table 4 Product/Service information (Sales Forecast) ............................................................ 14
Table 5 Key People and Job Function and Salary ................................................................... 14
Table 6 Financial Highlights .................................................................................................... 14
Table 7 Forecast Income Statement ......................................................................................... 15
Table 8 Forecast Cash Flow Statement .................................................................................... 15
Table 9 Monthly Cash Flow Statement ................................................................................... 17
Table 10 Forecast Balance Sheet ............................................................................................. 18
Table 11 Sensitivity Analysis based on Sales .......................................................................... 18
Table 12 Sensitivity Analysis based on Direct Cost ................................................................ 19
Table 13 Sensitivity Analysis based on Fixed Cost ................................................................. 20
Table 14 Sensitivity Analysis based on all the Factors............................................................ 21
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Executive Summary
Before starting any business, the company starts with preparing a business plan. Here
we have prepared a business plan for Helping Hands which is a home services management
company. Helping Hands provides services related to home cleaning, maintenance, day care,
and many other services on demand. The vision of the company is to help people enjoy life.
Business Concept
In this report, we are coming up with a business plan on the same concept as stated
above, i.e. home service management. In today’s environment, most of the people find it
difficult to manage office and home simultaneously. And situation becomes worsen in case of
individual or when both the persons are working. So, to overcome from these problems, we
are suggesting a business that will provide large number of household services to individuals
and families. Its service portfolio will include:
Home Cleaning
Services
Maintenance Services Day Care Services Other Services
Regular Scheduled
Cleaning
Electrical To Child Below 5 years Daily Household
Purchasing
Move in / Move out
Cleaning
Electronic To Child Below 10 years Pest Control
Deep Clean Services Sanitary Pet care Laundry and Ironing
Seasonal Cleaning Automobiles Gardener
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Our business will basically focus on working individuals, houses where both the
partner are working, retired persons and high class families.
Business Plan Structure
Business Name and Address
Helping Hands
Aerodrome Road
London, NW9
Email: [email protected]
Proprietor’s Name and Address
Ben Lefort
Aerodrome Road
London, NW9
Email: [email protected]
Business Form
“Helping Hands” is into customer service provider, providing services related to routine
household tasks.
Business Activities
The service portfolio of Helping Hands is very vast. It includes services such as:
Home Cleaning Services:
Regular Scheduled Cleaning:
It includes services like regular scheduled cleaning, under which company will
provide you with a sweeper who will look after general sweeping and mopping activities. As
per the customers demand, he will either come daily, thrice a week or weekly.
Move In / Move Out Cleaning Services:
In this, cleaning services are provided to those customers who are relocating to new
place. Before they relocate to the new place, the company will make up the entire house. This
type of service is also useful for the customers who are returning to their home after a week’s
or 10 days outing.
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Deep Clean Services:
Under this category, the company will provide services such as cleaning the entire
kitchen, bathrooms, toilets and electronics home appliances such as refrigerator, microwave
oven, etc.
Seasonal Cleaning:
This kind of service will cater the demand of those customers who want seasonal
cleaning of their homes. E.g. some people wants to completely clean their house after rainy
season, or some people wants to get their homes clean after some storms. Further painting
and colouring of homes are also included in this section.
Automobiles Maintenance Services:
In this, complete washing and cleaning services will be provided to the customers by
the company. In addition, the company will also provide services like starting four wheeler
and two wheelers, and other services like oil change etc.
Day Care Services:
Child Care and Pet Care:
Now days in most of the families both the partners are working and their main
concern lies in upbringing of their children. In this regard the home service management
concept by Helping Hand will prove boon to the customers. As it provide different-different
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day care services for children belonging to different age groups. In addition, the company
will also provide pet care services to the customers.
Other services:
In addition to the above services, the company will also provide services such as,
daily household purchasing, pest control, gardener, laundry and ironing. These services will
be customized and will be delivered on special demand of the customers.
Vision and Mission Statement
Vision Statement:
To help people enjoy life.
Mission Statement:
To build strong relationship with the customers, and ensure healthy lifestyle by
constantly offering superior customer services.
PEST analysis
There are many environmental factors that can have negative or positive impact on
organizations costs, supply and demands. These changes can either produce threat or
opportunity for an organization. In this regard, we are analyzing the UK service industry so
as to study the impact of these factors.
Political – It tells about government policies such as the degree of intervention in the
economy. The political environment of the country can impact the business like
infrastructure, workforce qualification etc. Presently, UK is one of the most
financially stable nations to start a business and the present situations in the country
will favor service industry. Company can easily trap skilled professionals and further
can also build infrastructure that can assist business.
Economical – Economical factors include taxation changes, interest rates, economic
growth, rate of inflation and exchange. With the introduction of new interest rates,
service industry has seen a growth in sales. But, on the other hand, with the rise in
inflation, workers are demanding higher salaries and this has resulted in increase in
business cost.
Social – Under social, demographical factors of a country like age, gender, culture
family size, etc. are included. Study of these factors tells about living standard and life
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style of the local people. It also tells about present trend in the country. The business
of home service management will definitely flourish in the country like UK because
here people are ready to spend money on the services that can reduce their workload
and help them to spend more time for leisure activities. Further, increase in per capita
income is an added advantage to this industry.
Technological – Recently lots of innovation have been seen in the field of technology.
All these years, UK’s government is spending time and money in order to attract
entrepreneurs to start up business in UK. And to achieve this, UK government has made
many changes in its annual budget. The government has lowered the entry barriers to start a
new business in UK. The government has regularised its tax structure, and business houses
are benefitting from it. Government has come up with various financing schemes to finance
new and existing businesses. E.g. Entrepreneurs Relief was just £1 mn in 2008, now it has
been raised to £10 mn. Government has made some changes in its visa norms also. Now
anybody from anywhere can enter in UK and can start his business if he has around £50,000
to invest in UK (Mytton, 2012).
Rational for Launching the Business
Nowadays people are finding it very difficult to meet their basic requirements. So in
order to fulfil their basic needs, in most of the families both the partners are working. By
doing this, they are now able to meet their basic needs and are able to live a better life, but it
has come up with a problem of managing house. As both the partners are working, so they
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are not able to manage both home and office simultaneously. Moreover, for those who are
living, it is very difficult for them to look after their house. Further, if both the partners are
working, they also face the problem in upbringing their child. Moreover household works
consumes lot of time and demands lot of energy.
So to overcome from all these problems, Helping Hands is coming up with the
concept of home service management. It will not only help individuals and family in keeping
their house out of mess, but will also provide maintenance services like electric and
electronic maintenance, and automobile maintenance. It will help the customer in focusing on
other activities which gives them more pleasure. The company is also providing day care
facilities for the children and pets. Thus, now customers will not have to bother about their
children or pets. The company will take care of them and will provide healthy environment to
the children.
One more reason behind launching of this business is to help older people. A recent
report shows an increase in population of the older people above 65 years. It is not possible
for these people to maintain their homes. So the services provided by the company will help
these people in improving their standard of living. Now they don’t have to search for
different-different home service provider. Service portfolio of the company is so vast, that it
will meet most of the needs of the customers.
Now if all these services will be provided under one roof or just on a phone call at
reasonable services charges, people will find it more convenient and it will save their time,
money and energy. So these are the major reasons behind launching this business.
Market Size and Growth
Entire London is the market place for the company. Presently the population of
London is around 8.2 mn. And report shows that the population is increased by 12% in last
10 years. Moreover the average family size in London is around 2.47 people. So if we use
above data, we can estimate that total number of families in London is around 3.27 mn
(Glaintelligence Unit, 2012). And all the families of the London are the customer base for the
company. So the market size for the company is very huge and consists of 3.27 mn
households. So, if the company can cater the demand of all the households, it can reap huge
profits (Office for National Statistics, 2012).
In addition, report shows that the trend will continue and London’s population will
grow to 8.9 mn by 2028. It means there will be rise in the potential customers. And company
can take advantage of this. So for Helping Hands, there is vast opportunity to grow in the
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London market as in the coming years both market size and market growth will continue to
rise (London Higher, 2011).
Selection of Location with Reasons Thereof
For this particular business, London is selected as the market place. The main views
behind selecting London are:
It is the largest city, and metropolitan area with highest urbanisation rate. Thus, will
provide large number of customer base as compared to other cities.
Most of the people in London are educated and are urbanized, so the company can
target them.
charges can stop some people in utilizing these services.
The main customer base of the company will be the household in which both the
partners are working. As they both are working so they don’t have much time with them to
carry out their household chores. So the company can target them.
The next section, which the company can target, is individual working people. As
individuals lives on the concept of work hard, party hardy; they don’t like to do household
work. So the company can also include them in their potential customers.
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Another section of the customers can be elderly people. At old age, people are not
able to perform all their household work, and want some help from others. So the company
can also include them in their potential customer base.
Lastly, the company can also focus on females having small child. If they are
working, they find it difficult to properly look after their child. Helping Hands will help them
in this regards by providing experienced caretakers. Sometimes, non-working women are also
not able to establish sync between household work and caring their child. So, they can also
benefit from the services of Helping Hands.
Competitor Analysis
Name Strengths Weaknesses
Miss Maid Ltd
Deals in both commercial
and domestic cleaning.
Well established and
recognised and operating
from last 10 years.
Superior management
system and professional
training to cleaners.
Operates in many parts of
the London.
Service portfolio is limited.
Services are limited to high
society.
Home Clean
Quick service
Wider geographical reach
Reasonable service charges
Service portfolio is limited
Unskilled staff.
Whitehills Daycare Serving London for many
years
Experienced staff
Service limited to child care
Narrow geographical reach
Self Analysis
Strengths Weaknesses
Service portfolio is very large.
Superior quality service provider.
Wider reach.
Reasonable service charges.
Most of the services are outsourced, so
able to provide skilled staff.
Initially will not be able to cater entire
demand.
Intense competition in the market.
Company is new in the market, so brand
is not recognised.
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Competitive Advantages
Service portfolio of Helping Hands is very wide. It provides all kind of services, such
as home cleaning, maintenance, day care facilities, etc. On the other hand most of its
competitors provide limited services.
Helping Hands outsources most of its services, so its staff will be highly skilled. And
thus, the company will provide superior quality services to its customers.
Service charges of the company for delivering different services are very reasonable
and thus provide a competitive edge over the peers.
The company has wider geographical reach.
Another method that the company can adopt is to put its ads in some local newspaper.
As local newspaper have wider reach and most of the people read newspaper, so company
can take advantage of this. The company can also print some prospectus and distribute it with
newspaper. While doing this, the company should keep in mind that it should put the ads 2
weeks prior to the launch of its business. The company can also go for printed flyers.
Next, the company can put its ad in the local information provider booklets such as
golden pages. Moreover it can put ads on street side hoardings. All these methods are not
very expensive, but have deeper impact in the customers mind.
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After this, once operations starts, the company will majorly depends on the word of
mouth advertising and publicity. The main advertising and publicity of the service industry is
done by the people who have already used the services. So in order to get presence in the
market, company should provide excellent services to the customers, and if the customer gets
satisfied, he will rely on the services of the Helping Hands and will bring more customers
with him (Kotler, 2008).
Finally, the company should promote themselves as professional, trustworthy home
service provider which helps people enjoy life.
Pricing Strategy
Normal pricing of regular cleaning in London varies from £10 - £20 per labour, per
hour. Further prices also depend on the materials used and who is providing materials. If the
customer is demanding natural products to clean their home, prices will be higher as compare
to normal products. Moreover if the materials are provided by the company, the company will
charge extra for it. E.g. Helping Hands competitor Miss Maid Ltd charges £10 for two hrs per
visit every week (Miss Maid, n.d).
Similarly, Nice and Clean Ltd charges £10 for two hrs per visit every week, but
cleaning equipments and detergents have to be supplied by the customers. Its ironing rates are
£10 per hour per week and £12 per hour fortnightly (Nice and Clean, n.d).
So in order to capture the market, initially Helping Hands will have to keep its prices
lower than its competitor. The company will charge £9.50 for two hours per visit per week.
Further, if the customer wants it services on daily basis, in that case the company will charge
£7 for two hours per day.
Similarly, for day care services, Whitehills Day Care charges £23.53 per day. For this
service also, Helping Hands will charge lower services charges as compare to Whitehills Day
Care. The company will charge $22.5 per day, and will provide exceptional quality care and
nutritious meals to the children (Whitehills Daycare, n.d).
Moreover, if the customers will demand complete package or some combo package,
in that case the company will charge £6 per hour per labour (Oxenfeldt, 1982).
Various Sources of Finance
Personal savings and informal loans from family and friends
Banks
Overdrafts
Loans
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Credit cards
Government sources funding
Grants
Early growth fund
Private equity investors
Business angels
Venture capital
advertising and promotion activities and in buying some cleaning equipments. So initially the
company will not require huge investment. It investment requirements will be fulfilled
partially by owners own capital and partially by bank loan. The company will choose bank as
the external source of finance because it has many advantages such as,
It is the best way to dip back into the equity, i.e. the owner will have funds, and still
his taxable income will be less.
It legitimises the spending and the owner will have funds to spend on his business.
It helps to pay off and consolidate of smaller loans, and thus results in reduction in
cost of capital.
It helps in creating buffer that can be used to operate business when there is no cash
flow.
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Company can pay repay loan anytime without any penalty.
Company can choose the repayment option.
So because of the above stated advantages, Helping Hands will borrow money from the bank
in the form of loan to meet its investments.
Key People and Job Functions
Key Person Functions
Owner Will look after entire business
Coordinate with all the supervisor
Look after marketing and promotional
activities
Arrange finance for the company
Supervisor – Home Cleaning Services
Look after services related to home cleaning
Maintain relationship with customers
Liaising with suppliers of detergents and
cleaning equipments
Supervisor – Maintenance Services
Look after services related to maintenance
Maintain relationship with customers
Liaising with suppliers of electrical and
electronics items
Supervisor – Day Care Services
Look after services related day care (both
child and pet)
Maintain relationship with customers
Liaising with the suppliers of baby food and
pet food
Supervisor – Other Services
Look after services related to grocery
shopping, Laundry and Ironing, pest control
etc
Maintain relationship with customers
Liaising with grocery shops and other retail
chains
Office Assistants – 4 no’s
Day to day office work
Data operations
Accounting work
Recordkeeping and inventory
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Financial Plan
Sources of fund: Amount
(£) Loan - 1000000 Self-cash 1000000 Self-asset 381700 Total Sources of Funds 2381700
Premises: Rent per year 15000
Raw-Material (Stock)
Table 1 Raw Material (Stock) Detergents 1500 Scrubbers 1000
2500
Formation Expenses
Table 2 Formation Expenses Start up cash requirement estimations
Registration (Legal) 1500 Marketing and Promotion 2000 Insurance 500 Total Start-up Expenses 4000
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Working Capital for Expenses
Table 3 Working Capital Expenses Cash Required 44000 Start-up Inventory 2500 Other Current Assets 2000 Total Working Capital 48500
Product/Service information (Sales forecast)
Table 4 Product/Service information (Sales Forecast) Total number of families in London 3270000
Targeted market (20% of the total) 654000 Average cost of providing different services 5 Average price charged for providing different services 10 Total cost per annum 3270000 Total revenue per year 6540000 3270000
Key people and Job function and Salary:
Table 5 Key People and Job Function and Salary President/owner (1) 35000 35000 Supervisors (4) 15000 60000 Office Assistants (4) 8000 32000 Part-time employees (10) 5000 50000 Drivers (4) 3000 12000 Total Monthly Salary Payment
189000
Yearly Salary Payment 2268000
Financial Highlights
Table 6 Financial Highlights
Year 1 Year 2 Year 3 Year 4 Year 5
Turnover (£): 6540000 6932400 7348344 7789245 8256599 Profit (£): 644039.2 838575.6 1045269 1267770 1507130 Break-even (£): 4458529 4346407 4254378 4177198 4112913 GP% 40.8 42.7 44.5 46.2 47.9 NP% 9.8 12.1 14.2 16.3 18.3 ROCE% 46.61% 41.40% 36.49% 32.43% 29.11% Projected growth of Turnover
6% 6% 6% 6%
Projected growth of NP
30.21% 24.60% 21.30% 18.90% Gearing 0.72374611 0.578997 0.434248 0.289498 0.144749 Interest coverage 17.95 28.58 46.85 84.41 199.31
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Forecast Income Statement
Table 7 Forecast Income Statement
Year 1 Year 2 Year 3 Year 4 Year 5
Amount (£)
Amount (£)
Amount (£)
Amount (£)
Amount (£)
Sales revenue 6540000 6932400 7348344 7789245 8256599 Less direct (variable ) costs
Development cost inclusive of all other costs 3270000 3358290 3448964 3542086 3637722 Wages 600000 616200 632837 649924 667472 Gross Profit 2670000 2957910 3266543 3597235 3951405 Salaries 1668000 1713036 1759288 1806789 1855572
Capital 1000000 Loan 1000000 Total Cash Receipts 2000000 6540000 6932400 7348344 7789245 8256599
Cash payments Cash Purchases Capital expenses: Fixed Assets 46200
Revenue expenses:
Stock 2500 Registration 1500 0 0 0 0 0
Marketing and Promotion 2000 0 0 0 0 0
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Working Capital Expenses 46000
Rent
15000 15405 15820.94 16248.1 16686.8 Interest
50000 40000 30000 20000 10000
Insurance
500 500 500 500 500 Tax
203380.8 264813.4 330084.9 400348.3 475935.9
Wages
600000 616200 632837.4 649924 667472 Salaries
1668000 1713036 1759288 1806789 1855572
Developmental Cost
3270000 3358290 3448964 3542086 3637722 Loan Repayment
200000 200000 200000 200000 200000
Total 98200 6006881 6208244 6417495 6635895 6863889
Net cash flow 1901800 533119.2 724155.6 930849 1153350 1392710 Opening cash 0 1901800 2434919 3159075 4089924 5243274
Closing cash 1901800 2434919 3159075 4089924 5243274 6635984
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Monthly Cash-flow Forecast
Table 9 Monthly Cash Flow Statement Month Pre operating period 1 2 3 4 5 6 7 Sales (£)
130800 130800 196200 392400 523200 588600 654000 457800
Volume
13080 13080 19620 39240 52320 58860 65400 45780 Value (£)
10 10 10 10 10 10 10
Receipts Sales-cash (£)
130800 130800 196200 392400 523200 588600 654000 457800 Capital introduced (£) 1000000
Grants, Loans etc (£) 1000000 Total (X) (£) 2000000 130800 130800 196200 392400 523200 588600 654000 457800
Payments Fixed Assets (£) 46200
Materials (£) 2500 Registration (£) 1500 Marketing &
Promotion(£) 2000 Working Capital expenses 46000 Insurance (£)
500
Rent (£)
1250 1250 1250 1250 1250 1250 1250 1250 Interest (£)
Tax Payment (£) Payments of Salaries (£) 189000 189000 189000 189000 189000 189000 189000 189000
Developmental Cost (£) 65400 65400 98100 196200 261600 294300 327000 228900 Loan Repayment (£)
Total (Y) (£)
256150 255650 288350 386450 451850 484550 517250 419150 Cash balances
Cash flow (X) - (Y) (£) 1901800 -125350 -124850 -92150 5950 71350 104050 136750 38650 Opening balance (£) 0 1901800 1776450 1651600 1559450 1565400 1636750 1740800 1877550 Closing balance (£) 1901800 1776450 1651600 1559450 1565400 1636750 1740800 1877550 1916200
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Forecast Balance sheet
Table 10 Forecast Balance Sheet
Year 1 Year 2 Year 3 Year 4 Year 5
(£) (£) (£) (£) (£)
Non-current assets Fixed Assets 36960 27720 18480 9240 0
Owner's Assets 305360 229020 152680 76340 0 Current assets
Cash 2434919 3159075 4089924 5243274 6635984 Working Capital 48500 48500 48500 48500 48500 Total assets 2825739 3464315 4309584 5377354 6684484
Based on Sales
Table 11 Sensitivity Analysis based on Sales
Sales (X) Profit (Y) 4578000 -133580 5232000 146999.2 5886000 395519.2 6540000 644039.2 7194000 892559.2 7848000 1141079 8502000 1389599
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Figure 1Sensitivity Analysis based on Sales
In the above table we have varied the sales from -30% to 30%, keeping all the other
factors constant. The above table and the above graph shows that with the increase in sales
and all factors constant, the profit is going to increase. So from the above table it can be
concluded that, if due to change in certain internal or external factors, if the sales is declined
by 10% or 20%, the company will still make profits. But if the sales are declined by 30%, the
company will book losses. On the other hand, with the increase in sales, profits will
obviously going to increase. It means, to book profits, company will have to see that it sales
do not decline by more than 20%.
Based on Direct Cost
Table 12 Sensitivity Analysis based on Direct Cost Direct Cost (X) Profit (Y)
2709000 1526399 3096000 1232279 3483000 938159.2 3870000 644039.2 4257000 349919.2 4644000 55799.2 5031000 -313580
-400000-200000
0200000400000600000800000
1000000120000014000001600000
Pro
fit
Sales
Sensitivity Analysis based on Sales
Profit (Y)
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Figure 2 Sensitivity Analysis based on Direct Cost
Based on Fixed Cost
Table 13 Sensitivity Analysis based on Fixed Cost
Fixed Cost (X) Profit (y)
1273356 1058789
1455264 920539.4
1637172 782289.3
1819080 644039.2
2000988 505789.1
2182896 367539
2364804 229289
-5000000
500000100000015000002000000
Pro
fit
Direct Cost
Sensitivity Analysis based on Direct Cost
Profit (Y)
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Figure 3 Sensitivity Analysis based on Fixed Cost
The case of fixed cost is similar to the case of direct cost, i.e. with the rise in fixed
cost; the company’s profits will fall. The above table and the above graph show that with the
decline in the fixed cost, while all other factors are constant, the company’s profit is rising.
But with the rise in company’s fixed cost, the profits are declining. Although, profit of the
company is not very sensitive to the fixed cost (because the company is reaping profits even
its fixed cost is raised by 30%), still Helping Hands should try to keep the fixed cost
minimum so as to reap higher profit.
Based on all the above factors
Table 14 Sensitivity Analysis based on all the Factors
Percentage Change Fixed Cost v/s
Profit Sales v/s
Profit Direct Cost v/s
Profit -30 1058789 -133580 1526399 -20 920539.4 146999.2 1232279 -10 782289.3 395519.2 938159.2 0 644039.2 644039.2 644039.2 10 505789.1 892559.2 349919.2 20 367539 1141079 55799.2 30 229289 1389599 -313580
0
200000
400000
600000
800000
1000000
1200000
1273356145526416371721819080200098821828962364804
Pro
fit
Fixed Cost
Sensitivity Analysis based on Fixed Cost
Profit (y)
Email : [email protected], Phone: (UK) +44 203 3555 345
To diversify its services portfolio by adding more and more home services like
providing cook etc. Further it can enter into interior designing business also.
Although, right now the company’s business boundary is limited to London only, but
in the coming years, it can expand its business boundaries and cover more cities of
UK.
In order to give more satisfaction to the customers, the company should provide better
training to its staff and employees so as to enhance their skills.
Conclusion
The above business plan is prepared to find out the attractiveness of the home services
management business. After preparing the business plan it can be concluded that Helping
-500000
0
500000
1000000
1500000
2000000
-30 -20 -10 0 10 20 30
Pro
fit
Change in all the Factors
Sensitivity Analysis based on all the Factors
Fixed cost vs profit
Sales vs Profit
Direct Cost vs Profit
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Email : [email protected], Phone: (UK) +44 203 3555 345
Hands can proceed further with its idea of providing home services in the London. Firstly,
nowadays people prefer to enjoy their life rather than wasting their time in doing household
work. So in order to save time and employ it in leisure activities, people prefer to utilize the
services provided by the home service provider companies. Secondly, household income of
the London is increased to £900 per week. So company can take advantage of this also. And
thirdly, the population of elderly people is increasing in London day by day, and is expected
to grow by 33% by 2031. So, all these factors will surely tend to increase the demand of
home services in London. And Helping Hands can seek significant benefits.
Email : [email protected], Phone: (UK) +44 203 3555 345
References
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Mytton, D., 2012. Five Reasons Britain May Be The Best Place To Start A Company In 2012. [Online] Available through: <http://www.forbes.com/sites/parmyolson/2012/07/09/five-reasons-why-britain-may-be-the-best-place-to-start-a-company-in-2012/> [Accessed on 29 th December, 2012].
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