This document is a business plan for MaXout, a company that provides just-in-time transportation services for IBS (industrialized building system) manufacturers' components and other construction materials in Johor, Malaysia. The business plan outlines MaXout's vision, legal structure, board of directors, products and services including just-in-time delivery and 10-year contracts, use of GPS technology, risk-taking insurance, and market analysis focusing on growth in the Johor construction industry driven by developments like Gerbang Nusajaya. The plan also covers marketing and financial strategies and projections.
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3. 3
Confidentiality Agreement
The undersigned reader acknowledges that the information provided in this business
plan is confidential; therefore, the reader agrees not to disclose it without the express
written permission of MaXout Sdn Bhd.
It is acknowledged by the reader that information to be furnished in this business
plan is in all respects confidential in nature, other than information that is in the public
domain through other means, and that any disclosure or use of this confidential
information by the reader may cause serious harm or damage to MaXout Sdn Bhd.
Upon request, this document is to be immediately returned to MaXout.
_______________________
Signature
_______________________
Name (printed)
_______________________
Date
This is a business plan. It does not imply offering of securities.
4. 4
1.0 INTRODUCTION
MaXout is a company that provides just in time transportation service for various IBS
manufacturers’ components, and also building materials, engineering materials,
machineries and other construction elements for the construction site of Johor Dahrul
Ehsan. The company will provide competitive pricing while delivering components
safely and reliably in order to establish itself in the industry and beat competition.
This company will be established at the end of the year 2015 by Dato’ Seri Haji Haziq
bin Hj Zariful who has 25 years of experience in the construction industry,
1.1 VISION AND MISSION
The vision statement for our company is to be the most preferred and reliable
transportation provider for IBS components in Johor, and hopefully in Peninsular
Malaysia.
Mission statements:-
To provide safe, economical and appropriate transportation system to our
clients utilizing IBS components.
Manage the fleet in a manner that insures the lowest possible operational
cost while maintaining consistently high mechanical reliability.
Organize a staff and maintain a facility, which provided superior service,
repair, reservation and dispatch.
Insure that the service continues despite any circumstances as a secure and
self-supporting operation as it strives to achieve excellence and customers’
satisfactions.
To establish ourselves as the best transportation service provider by
garnering the respect of our shippers and developing successful and satisfied
customers and employees by focusing on our niche.
To maximize the efficiency of all of our customers’ shipments regardless of
size.
Core values:-
To conduct ethical business practices
Focus on customer needs.
Develop partnerships with all of our customers.
Practice continuous improvement
5. 5
1.2 LEGAL STRUCTURE
The company is a form of corporation, as its debt is not considered that of its owners,
so if you organize your business as a corporation, you're not putting your personal
assets at risk. A corporation also can retain some of its profits, without the owner
paying tax on them. Aside from that is the ability of a corporation to raise money. A
corporation can sell stock, either common or preferred to raise funds. Corporations
also continue indefinitely, even if one of the shareholders dies sells the shares or
becomes disabled.
ORGANISATIONAL STRUCTURE
Figure 1.0: Organizational Structure of maXout
6. 6
1.3 Board of Directors
Dato’ Sri Haji Haziq bin
Hj Zariful
CEO & Chief of
Executive Officer
Dato’ Haziq holds a
Bachelor of Architecture
(Honors) degree and
Master of Architecture
(Professional). He has
more than fifteen years
of distinguished service
especially in Malaysia
Government
construction project.
Before joining the
government, Dato’
Haziq works as an
Architect’s assistant in
an architecture firm,
involved in various
projects with
multinational companies
and later founded and
successfully managed
his own consultant
company in construction
services.
Joshua Chua Shu Min
Director of Finance and
Management
Mr. Joshua has more
than ten years’
experience in the
logistics industry. He
started work in 2005
with his relative who
owns a small
transportation firm which
has since expanded and
became a well-
established logistic
company over the
Peninsular Malaysia.
With his Master in
Finance and
Management Science,
he deals with several
obstacles and issues
happening during &
outside the
transportation phase
while working with other
departments of the
business to manage
their respective budget.
Thean Hai Xu
Director of Operations &
Planning.
He holds a Bachelor of
Art (Economic) from
Brook University of
Canada and has worked
in a logistics company
for the past ten years.
He will be responsible
for three major areas,
planning that optimizes
cost, provide supply
chain input and
coordination to improve
growth and direct the
workers, managing and
assigning work while
constantly
communicating with
them to check if
everything is going on
schedule.
Enoch Ang Ee Nok
Director of Product
and Marketing.
Mr. Enoch holds
Master in Marketing
Management from the
University of British
Columbia in
Vancouver. As
experience plays a
major part in this role,
we have chosen Mr.
Enoch as he has
experienced over 20
years in this role.
Develop marketing
strategies and
analysis is his main
job in order to meet
the goals of the
marketing plan.
7. 7
2.0 PRODUCTS AND SERVICES
We offer a complete range of transport services, ranging from IBS manufacturers’
components, and also building materials, engineering materials, machineries and
other construction elements, flexible for all different sizes by utilizing our trucks
among our resources. We provide cost effective, reliable and efficient solution, with
technology and methods that eliminate multiple handling and provides a secure
system for our clients.
2.1 JIT DELIVERY
The company will provide Just-in-Time (JIT) delivery, a rarely practiced system
whereby components can be delivered on a fixed time that will allow components to
be installed and erected on the actual day of use. 10% discount will be given if and
when our company fails to deliver at the set time. This allows contractors to eliminate
the need for storage; helps site management and quality control. With JIT delivery
benefiting the contractors, the company would be more preferred than competitors
who don’t practice this system. We also offer a 10% rebate to clients whose products
are IBS components in order to encourage the usage of IBS in our industry.
2.2 10-YEAR CONTRACT
The company will also provide our clients with a 10-year contract, a long-term
contract that provides clients with cheaper service charge. The benefit is again, for
both parties, clients can reduce delivery expense while our company can serve
multiple companies, delivering components for many number of projects while
eliminating competitors from providing service to said companies. Overall, it creates
a bond between two businesses, establishing trust and reliability, which are important
factors in the market.
8. 8
2.3 GPS TECHNOLOGY & COMMUNICATION
As stated therein, the company uses modern technology to compete with
competitors. Such technology would be a Tracking and Tracing Process, where our
delivery trucks would implant GPS technology in order for clients and the Director of
Operations to track the location of the trucks in real time and see if the delivery is
flowing on schedule. We will also constantly communicate with the drivers to avoid
from traffic jams or hazards to prevent delay, choose alternative routes and optimize
our service.
2.4 RISK-TAKING INSURANCE
In addition, the company takes full risk of delivery items, a type of insurance where
we will pay for all accounted damages and accidents that occurs during the time of
delivery. This would be an incentive for clients to appoint us and encourage accident
prevention.
Other than an improved way of delivery, the company also improves itself by
managing the company carefully for financial efficiency such as:
Flexible resource planning of truck, trailer, driver, etc.
Order splitting into multiple parts and clustering multiple orders together
Compartment planning
Real-time workflow management and dispatching
Event, alert and issue management
9. 9
3.0 MARKET ANALYSIS
MaXout holds the potential to entrench its competitive position in the regional
transportation services market by selectively focusing its target market and niche
products in the local construction industry. Our company understands the current
position of the construction industry and how the Malaysian government pushes for
more adoption of IBS (prefabrication) in construction projects, especially in the
government sector, and we plan to leverage this because we believe there is a
growing demand for reliable transportation solutions in this customer segment.
3.1 MARKET TRENDS
Johor is a booming hub and developing to become the second Kuala Lumpur with its
developments. Aside from the now stagnant Iskandar Malaysia, other parts of Johor
are being looked at, primarily Gerbang Nusajaya. The massive 1,800ha Gerbang
Nusajaya has a gross development value (GDV) of RM40 billion, with some of its
developments are being partnered with Singaporean companies. Its components
include lifestyle and retail parks, campus offices, industrial parks and residential
precincts, all of which will be developed in five phases over the next 25 years. As
such, there will be a surge of demand in construction developments and the need of
a reliable transportation service, and we believe prefabricated components will
inherently be integrated into such flourishing developments.
Illustrated below is the statistics of IBS contractors by size and types that currently
exist in Johor, as of June 2015.
Size Small Medium Large
Type G1 – G3 G4 – G5 G6 – G7
Concrete Precast
Contractor
56 2 14
Steel Formwork
Contractor
170 71 44
Steel Framing
System
2 1 1
10. 10
Prefabricated
TimberFraming
System
12 - 1
BlockWork
System
9 - 3
According to the data above, there are plentiful companies who specialize in IBS,
especially steel formwork systems and concrete precast elements. With the current
developing state of Johor, we will actively solicit such clients. We do believe our
service will meet the demands and requirements of construction companies involved
in the development in Johor.
3.2 TARGET MARKET AND MARKET SEGMENTATION
Figure: Forecast customers demand for the first 3 years
There are several potential customer segments that we will provide our
transportation services to. The primary customer segments that we will cater to are
clients that utilize IBS components. The reason is because we also encourage active
implementation of IBS in the industry, hence we provide 10% rebate for such clients.
They can be either IBS component manufacturers, or contractors. Aside from this,
they can also be either government companies, or private entities. Since IBS is still
not very popular in the private sector, we will focus more in the public sector, mainly
government public housing projects due to higher implementation of IBS. The
secondary customer segments are the ones not utilizing IBS in their construction
projects. While they are not our focus group, we do not eliminate them from our
services as well.
Customer demand projection
IBS components
Building materials &
components
Engineering materials &
machineries
Others
11. 11
Large established companies in the construction industry may have their own
transportation fleets, while smaller players will seek to outsource the transportation
function. The latter will vary in scale of their operations, but they have a steady
demand for reliable transportation services. We will actively solicit such customers.
3.3 PROFILE OF COMPETITORS
Eastern Pretect (Malaysia) Sdn Bhd
Has Facilities in Selangor, Johor & Kedah
Design, supply & deliver precast concrete components for building and
infrastructure
An experienced company, established in 1989, developing through the years,
becoming a well-respected firm and a leader in the precast concrete industry.
Competitive Disadvantage:
o Experience in the industry; hence they
o Have profound local business knowledge and a very strong international
background.
o With the company not just delivering products, but also manufacturing them,
there would be no delay, management problems & extra cost from hiring a
third party delivery service.
Conweld Engineering Sdn Bhd.
Mainly located in Selangor, Conweld has a branch office in Johor Bahru, Johor &
has made ‘significant business’ in East Malaysia
Produces and imports high quality construction equipment, generators & welders
used in the construction industry.
Conweld is another established company with 30 years of experience, becoming
a well-known producer and importer of construction equipment that have proven
track records of delivering quality and engineering products in Malaysia.
Competitive Disadvantages:
o Experience in the industry
o With the company not just delivering products, but also manufacturing them,
there would be no delay, management problems & extra cost from hiring a
third party delivery service.
12. 12
o Also exports products with business partners to other multiple countries, while
we do focus on Johor area, this attribute shows the company’s capability and
trust towards other countries, giving it a huge reputation in the market.
IGP Design & Project Management
Established in 2004 and is based on Johor Bahru.
Design and construct the project, which includes concept designing, interior
designing, project management and delivery for the project, even producing
furniture.
The company may be young, but it is founded by someone experienced in the
construction industry since 1994 and has made many projects, even in
Singapore, with the projects known to be made with professionalism.
Competitive Disadvantage:
o Another company that uses low cost tactics
o The company consists of architectures, interior designers, project managers,
skilled workers & contractors, which means if a client were to desire a one
stop solution, he/she would hire the company without considering third party
members.
o While being a young company, it has used fruitful tactics to develop itself in
the 11 years since it was established, such as partnering with many
companies and creating a well managed website showcasing their
capabilities and projects.
3.4 COMPETITIVE ADVANTAGES
Eastern Pretect manufactures many types of precast panels, columns & beams while
Conweld Engineering also manufactures their construction equipment, lowering extra
cost, time & management. However, our advantage is that we deliver components
other than said products. If a contractor need to find products not fixed to precast
components, he would need to find many different companies to hire & if each of
them were to deliver for their products, there would be a higher cost, hence, a third
party delivery would be the most preferred option.
There are many uniqueness to our delivery service such as Just in Time delivery,
10% rebate for IBS components tactics would be helpful in persuading contractors to
13. 13
hire us, Tracking and Tracing Process using GPS technology, communicating with
drivers to find alternative routes & risk tracing insurance.
Our 10-year contract will also help assure our employment towards clients and
diminish competitors from them, this means that even when the contractors choose
our competitors such as eastern pretech and conweld, they would choose our
company for delivery service as a more preferred option.
4.0 MARKETING STRATEGY
We market our company as solutions to the many construction companies
requiring cargo to be transported promptly and efficiently. The company’s future
marketing plans will be nationwide, emphasizing haulage capabilities for any cargo.
The overall marketing plan for services is based on the following fundamentals:
The segment of the market(s) planned to reach.
Distribution channels planned to reach said market segments: social media,
radio, newspapers, sales associates, and mailings.
Share of the market expected to capture over a fixed period of time.
Eco-friendly and sustainable transporting operation business in the long run
to make a name for ourselves as being the first in the country.
4.1 MARKETING & ADVERTISING PROGRAMS
Market responsibilities. MaXout Sdn Bhd is committed to an extensive promotional
campaign to reach our target market. To accomplish initial sales goals, the company
will require an effective and efficient promotional campaign to accomplish two
primary objectives:
1. Attract quality sales/service personnel with a desire to be successful.
2. Attract customers that will consistently look to MaXout Sdn Bhd for their
shipment and cargo needs in construction.
14. 14
Promotion through various mediums. In addition to standard advertisement
practices, MaXout will gain considerable recognition through these additional
promotional channels:
Press releases and advertising sent to radio stations, newspapers, and
magazines.
Social media advertising on Facebook, Instagram and Twitter. We seek for a
well-known person, which can be a local celebrity or model, influential and
impactful construction icons, and a well known construction company or
developer to help us endorse our services to reach out to our target market.
Website and internet marketing is also an important aspect. We will create
online advertisements, and also create an online internet website for our
company for any clients who wishes to reach us.
We plan to advertise throughout the state, or perhaps nationally, in
magazines and newspapers, on radio, and on banners and billboards.
We will also advertise on products and vehicles. This is done by displaying
company logo on our company vehicles.
We also plan to do direct marketing for the company.
Incentives. As an extra incentive for all of our clients, we plan to distribute souvenirs
with our company logo. Such souvenirs can include coffee mugs, coasters, T-shirts,
pens, towels, and other advertising specialties.
In addition, we will provide an extra incentive for our clients and potential clients. For
any client that has contracted us to deliver their shipments, if they have referred us to
another client, and this client has then sought our services, we will provide an extra
discount to the first client who has referred us. If this client specializes in IBS
products, on top of the 10% discount that our company provides, we will reward an
extra 5% discount for their next contracted service with us, which amounts to 15%
discount at the end of the transaction. For a client that is not involved with IBS, we
will reward them with a 10% discount for their next contracted service with us. The
15. 15
same principle applies to the downline. If any clients who habitually generates
referrals to us, we will constantly reward them with this incentive.
Brochures. The objective of a brochure is to portray the company’s goals and
products as an attractive deal and functionality. MaXout Sdn Bhd will develop three
brochures: one to be used to promote sales, one to announce our services in a new
market, and the third to recruit sales associates.
Public relations and word of mouth. MaXout Sdn Bhd will not restrict our
advertising to the ones mentioned above. We will focus on networking and public
relations. With regards to this, we will make our company known, reaching out and
lobby to potential customers in conferences, exhibitions and expos relating to
developments and construction plans. We will take such opportunities to socialise,
network and also make useful connections to potentially useful parties in the
industry. We believe this form of marketing through networking is the most useful and
effective way for us to solidify our place in the transporting business.
Professional image marketing. This is another indirect form of marketing. We
market our major competitive advantages. We will also leverage our professional
reputation as a new player in the business. We pride ourselves for a company that is
willing to go that extra mile in the customer-service department, and also in our
professional services. In that respect, we seek to conduct our businesses in an
ethical way. We hope that this will also generate word of mouth popularity to our
potential clients.
5.0 FINANCE
5.1 OPERATIONAL EXPENSES
Since Dato’ Seri Haji Haziq bin Hj Zariful has a 25 years of experience in the
construction industry. It is assume that he has a net worth of RM10 million.
Therefore, he has provided a capital of RM2million.
The reason why we chose Johor to start up our business is because its strategic
location. It also receives approximately 60% of foreign tourists who visit Malaysia
every year. It is a major holiday spot and shopping destination for neighbouring
16. 16
Singaporeans due to the comparatively lower cost of goods and services. Not only
that, Johor Bahru is the Central Business District and the main gateway into and out
of Singapore (via the Causeway). Henceforth, this will also help us to have
connections with the Singaporean construction players. Even though, Iskandar
development has already stopped due to its in that area but the transformation of
Johor to the second Kuala Lumpur is yet to come.
5.1.1 RENTAL AND UTILITIES
The site to accommodate the off road trucks will be placed at Kluang, which is also
the center of Johor Dahrul Ehsan. This will allow us to have a better access to the
other parts of Johor. Moreover, since Kluang is not a developed town yet. The prices
for the land can be also quite reasonable comparative to the city of Johor Bahru.
Despite that Johor is a large state, we are dividing the area into two different
segments, which is the north region which consists of Segamat, Muar, Batu Pahat
and Kluang and the south region that comprises of Mersing, Kota Tinggi, Pontian and
Johor Bahru. A clearer illustration can be shown in the figure below. Since it is an
outskirt of Johor, the rental is roughly RM2, 000 per month for the beginning but it is
likely to increase throughout the years. However, the rental is excluding the utilities
bills hence RM750 per month is being set aside for the water and electrical bills. We
will then buy a site to accommodate our vehicles after we are well established.
Figure : Map of Johor
Image retrieved from
https://jbexpatblog.wordpress.com/2014/06/22/johor-map/
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5.1.2 OFF ROAD TRUCKS
With the 1 million provided, we will only get 10 trucks to start off our business. Based
on our research, a brand new truck costs of around RM300, 000; RM120,000 for
second hand off road trucks. Therefore, we will only be purchasing 10 numbers of
second hand trucks due to finance constrain. First hand and second hand trucks
have their own pros and cons. Though, second hand vehicles costs lesser than first
hand but it also requires higher maintenance, fuel and repair compared to the new
ones so there is an allowance of RM60, 000 per year. We will only start purchasing
first hand trucks when our business is well established so that we will not incur too
much depth. When our business are going well and we do not have sufficient trucks
to deliver the goods, we will rent it from an outsource which is estimated to be RM
555 a day. As for the insurance for the trucks to prevent from any mishaps, we have
also allocated RM2, 000 per month for each of it.
5.1.3 NATURAL GAS TRUCKS
Not only that, we would also invest in trucks that run on natural gas or electric power
to transport our goods in order to reduce greenhouse gas emissions. This plan for an
environmentally friendly cargo is however a long term one. We hope that such
implementation in the near future will raise awareness for a greener operation. Since
no other transportation services in Malaysia run on green fuel, this operation might
solidify our name and reputation as being the first one in Malaysia to be an eco-
friendly and sustainable transporting operation.
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5.1.4 SALARY AND WAGES
Furthermore, the salary and wages for the workers in being divided into three
different categories, which is top-tier, middle line and first line management. For the
top-tier management that represents the three directors of the company, the salary is
around RM15, 000. As for the middle line management, their wages will range from
RM3, 000 to RM5, 000 based on their performance, qualifications and experience in
the industry. First line is basically the off road drivers. They are being paid RM2, 000
to RM2, 500 monthly depends whether are they local or foreigners and semi-skilled
or skilled workers. The price range for the first line workers are based on the CIDB
chart in the year of 2014 and adjustments will be made throughout the years due to
the economy in Malaysia. Training and developments programme is one of the chief
methods of maintaining and improving intellectual capital, so the quality of an
organisation’s training affects its value. Thereof, a capital of RM10, 000 is budget
for it annually.
5.1.5 MARKETING AND ADVERTISING
Last but not least, marketing and advertising is essential for a brand new company
like us, as not many construction players in the state of Johor would recognize it.
Since our business have yet to be started, our revenue for it is RM7,500 monthly. As
time goes by the company will allocate more budget for advertising in order to
enhance our brand and improve our business profit when we transform into a big
company. However, there are many design company out there would will also
sponsor us to enhance their company’s name when we are well established. This
may also help us to reduce in our marketing and advertising financial estimate.
Figure : Construction Machine Operator Wage Rates January 2014 ( Daily )
Image retrieved from
http://www.cidb.gov.my/cidbv4/images/pdf/n3c/labour/2014/Upah%20Machine%20Operator%20jan14_Sar
awakupload%201.pdf
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5.2 FINANCIAL INCOME
5.2.1 PRICING OF SERVICES
Our delivery service is being priced at RM500 per tonne for the products. If the
products that are being transferred are not more than a certain stipulated amount
then the cost will also be based on the distance travelled.
Method 1 : Price = RM 500.00 x weight (tonne)
Method 2 : Price = RM50.00 x distance travelled (km)
5.2.2 BUSINESS AS AN INDEPENDENT CONTRACTOR
There are two methods of approach to market our business. Since our business is
new, it is assumed that we will only get a handful of clients for the first few months.
Therefore, will be running our business as an independent contractor. For example,
since we have 10 trucks to start with, each truck can fetch you RM10, 000
(assumption based on our research) or more in profits per week, depending on
the capacity of the truck, the number of trips covered per week, and the distance
travelled per trip. Therefore, which means that our customers will vary.
5.2.3 BUSINESS AS A CONTRACTOROR SUB-CONTRACTOR
Then, we will run the business as a contractor or sub-contractor after a year because
by that time we should know some big players in the industry. Henceforth, they would
prefer a monthly deal, as they are more likely to deliver more shipments. In that case,
it is assumed that we will earn approximately RM120, 000 per month despite the
number of trips we have to make.
5.2.4 RENTAL OF TRUCKS
We would also rent out our trucks, which are available on the site as a part of our
revenue. The cost of the rental will be fixed at RM600 per day excluding the toll, fuel
and our drivers. We will only be purchasing more trucks after the 3rd
quarter of the
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third year when we are forecast to make a profit. Henceforth, we will also provide an
extra service, which is the rental of trucks.
5.3 FINANCIAL RISKS
The company recognizes that our business is subject to both market and industry
risks. The two primary financial risks to the company are as follows:
Industry concentration risk. The company encourages and also mainly
focuses on catering to and providing services to the IBS manufacturers and
contractors in Johor. This position is favourable since the construction
industry is fairly stable at the moment, especially in Gerbang Nusajaya. Any
slow down in this particular industry would have negative repercussions for
MaXout Sdn Bhd. Therefore to mitigate this risk, the company will diversify
our transportation services to include other segments of construction as well.
We do not eliminate other potential clients in other sectors to maximise our
business.
Operational risk. MaXout Sdn Bhd recognizes the fact that there is an
inherent risk in our transporting services. Any damage to our vehicles may
undermine the profit of the company. To reduce this risk, we only hire skilled
drivers, and provide training to semi-skilled drivers. Aside from this, we
maintain all necessary insurance.