Course: MGT368

Section: 13

Topic
Local Entrepreneurship Business
Submission date: 27.04.2021

Submitted To
Shabnin Rahman Shorna
Lecturer of Department of Management
North South University

Submitted by
Mahin Afroz Bhuiyan
ID- 2014230630
Table of Contents

Brief background of “ALAM TRAVEL AND TRANSPORT SOLUTION” ............................. 4-5

Story of the founder ..................................................................................................................... 6-7

Initial & Ongoing Challenges & Risks ............................................................................................7

Solution Strategies Taken by the Founder .......................................................................................8

Critical Success Factors ............................................................................................................... 8-9

Financial Costs & Profit Streams ....................................................................................................9

Marketing Strategies………………………………………………………………………..……10
Business Model Canvas of “Alam Travel and Transport Solutions”……………………………11
Future Plan for Business…………………………………………………………………………12
Risk Capital………………………………………………………………………………………12
Main Competitors………………………………………………………………………………..12
Recommendation………………………………………………………………………………...13
Appendix……………………………………………………………………………………..13-15
LOCAL BUSINESS CASE ON
“ALAM TRAVEL AND TRANSPORT SOLUTION”

-Secure & Comfortable Journey.

Brief background of “ALAM TRAVEL AND TRANSPORT
SOLUTION”
Alam Travel and Transport Solution is a Sole proprietorship business and
the owner of this business is Shamsul Alam Rifat. Mr. Rifat is also the founder of
this business who took this initiative to start this startup back in 2017. This is a
small sized enterprise and their current office is located in Mirpur, section 11,
Dhaka-1216. Alam Travel and Transport Solution basically provides travel and
transport services such as –

• Transportation Services (Regular & Luxury Car)

• Business and Family tour package
• Hotel Reservation
• Car Rent (Weekly, Monthly & Yearly)
• Honeymoon Packages
• Visa Processing
• House Shifting
• Truck or Pickup Van Rent
• Hajj and Umrah packages

Alam Travel and Transport Solution was founded in 2018, but operations
began in 2019, making the company three years old. Although the business
initially struggled to find customers and gain profit, it is now able to generate a
healthy amount of profit. Working businesses that rents car to pick up and drop off
their office employees and belongings are the key customers for this company.
These customers are usually between the ages of 25 and 53. Furthermore, till now
there are currently 17 employees working in Alam Travel and Transport Solution.
 COMPANY DETAILS IN A NUTSHELL
Company Name Alam Travel and Transport Solution

Founder & Owner Shamsul Alam Rifat

Location Mirpur, Section 11, Dhaka-1216

Email alamtransportsoltion@gmail.com

Services Travel and Transport related

Phone 01942801767

Number of Employees 17

Starting Year 2019

 Story of the Founder
Mr. Alam, the founder of Alam Travel and Transport Solution, was
interviewed via Google Meet in this section. From this interview, I learned that he
was motivated to start this business because of the potential market demand and his
prior experience in this industry. He has other companies, according to him, such
as Alam Garment Ltd, Alam Export Buying House, Alam House Society, and so
on, for which he required cars to rent to pick up and drop off his employees from
their homes to the workplace. Due to this need, he contacted other car rental
companies and signed up for monthly and yearly contracts. From this process Mr.
Alam generated the idea to start up his own business in this particular field. He
then intended to give this concept a professional identity. This is how Alam Travel
and Transport Solution began their journey.

In the initial stage the business was about car renting and booking services.
However, as Mr. Alam has few more businesses outside the country so as a result,
he needed visas for his employees to go overseas. From this incident he added
visa processing and other tour packages service to his business. After that
depending on customer demands the business started adding more services and this
how the business started expanding.

Mr. Alam was fortunate that when starting the business, he did not need a

large amount of capital. He claims that before starting this company, he had cars

that he purchased for his other businesses and rest he leased from car owners.

Since Mr. Alam was already under a lot of stress and had a lot of work to do with
his other companies, he had to recruit workers to contact these individual owners

via phone and email.

 “I always wanted to run my business and work in this field,” - Mr. Alam said
when asked about his career choice. One explanation for this is that he has been
involved with his father's businesses since he was in college. As a result, when he
decided to pursue this career path, his parents were always very supportive.

Despite having supportive parents, Mr. Alam had to overcome opposition from
some of his uncles and cousins, who advised him not to get involved in several

businesses because he was still young and it would be difficult for him to manage

on top of studying.

Initial & Ongoing Challenges & Risks

The initial service of Alam Travel and Transport Solutions was to rent cars,
for which they needed cars as primary resources. Mr. Alam found it difficult to
purchase or collect cars from other sources in order to supply cars to the consumer
companies as there was big threat of no one taking the cars for rent in the
beginning.

As a transportation company the founder had to face many difficulties with

driver in particular as they often used to cause problems. As a result, Mr. Alam
rented an office for his company near his home so that he could visit it whenever

he had free time in less time. Moreover, since the business is based on service so
its highly important to maintain good relationship with customers to avoid
customers risks. The company also has car accident-related risks
 Solution Strategies Taken by the Founder
The founder leased cars to escape problems associated with car ownership
and increasing risks. In addition, with the help of his mates, he recruited them as
employees without salary at first, and they provided him with resources through
their existing connections. They were later employed as permanent employees by
him.

Critical Success Factors

1. Strong dedication: Mr. Shamsul Alam Rifat has always wanted to start a
couple of companies that he was passionate about. He didn't want to work
for anyone else; instead he wanted to be an entrepreneur and run his own
company, which led him to his current role.

2. “Never give up” attitude: The founder has a never give up mentality,
which has aided and encouraged him to continue working hard. When he
starts something, he does not plan to stop until he achieves his goal. When
he struggled in the beginning of this venture, he didn't give up and kept
trying which contributed to this company earning its current position.

3. Good customer relationship: Customers who were happy with their service
and helpful actions remained loyal to them from day one and even brought
new customers into their business, which is one of the key success factors
for this company.

4. Characteristics and Experience: The founder acquired leadership skills,

which he had developed during his school years by planning events. He also
 has his own organization, "Genesis Foundation" through which he has had
the opportunity to communicate with a wide range of individuals, from
owners to drivers, which has aided in the development of his communication
skills. He gained a better understanding of people's perceptions, needs, and
mentality through this. He is very enthusiastic about everything he does and
puts all his efforts.

Financial Costs & Profit Streams

Alam Travel and Transport Solutions has owned cars since the beginning,
and the company has also purchased cars with bank loans and on lease. They had
to pay monthly payments for this. The services are priced after all necessary
expenses have been calculated and adjusted to market demand.

The business earns profit from investments after paying all costs from sales,
which is approximately 1.5-1.7 lakh taka including all expenses. They recently
launched an air ticketing service, which is not one of their core operations but it is
one of their additional ways to generate profit.
 Marketing Strategies

❖ The owner of this company has done personal marketing to the people
in his neighborhood. Since he has worked in this field before, he has a
strong relationship with the local customers. As he knows many
people from before he told them about his business.

❖ Alam Travel and Transport Solutions promoted their business in

social media because a large number of customers use Facebook so
they can grab many customers. They created a Facebook page of their
business to keep engaging with customers by posting frequent updates
about their services.

❖ They also focused on building good relationships with customers with

their good behavior and quality services. They often provided their
loyal customers offers on their services.
Business Model Canvas of “Alam Travel and
Transport Solutions”

Key Partners: Key Activities: Key Resources:

• Standard Chartered • Car rents • Rented office
Bank • Tour packages • Cars, micro
• Hajj & Umrah busses, Truck and
Packages Pick up vans.
• Employees
• Hotel Reservation
• Capital
• Honeymoon
Packages
• Visa Processing
• House Shifting
• Truck/Pickup Van
rent
Value proposition: Cost Structure: Customer Segments:
• Quality transport • Employee salary • Middle sized
facilities • Service salary companies
• Reliable tour • Phone bill • Age group between
facilities • Internet bill 25 to 53
• Hassle free visa
• Maintenance cost
processing
• Utility cost
• Many facilities from
one source • Advertising cost
• Rental cost
• Lease cost.
Channels: Revenue Stream: Customer Relationship:
• Facebook Page • Rent fees • Personal customer
• Direct contact with • Service fees relationship.
office • Upselling through
• Email offering discount
and offers to loyal
customer.
 Future Plan for Business

The founder aims to expand the company's lines of communication so that more
people can contact them. Despite the fact that these new channels he wants to add are
already popular among this generation, he believes they will help him grow his company.
He also wants to create an app for the company and increase marketing efforts.
Furthermore, he plans to have rental cars for holidays and special occasions such as
weddings, picnics, and short tours in the future.

Risk Capital

Mr. Alam splits his overall business profit into three portions. One portion is for
all expenses, another is for potential expansion of his company or risky circumstances,
and the third is for additional investments.

Main Competitors

1. ShareTrip bd
2. GARIVARA.com.bd
3. Hertz Bangladesh
4. Dhaka Holidays
5. Tour.com
6. Hilton Tours and Travels
 Recommendation
Since it is a transportation firm, it must purchase cars after carefully
evaluating their condition and employ experienced drivers to reduce accident-
related risks.

Appendix

Questionnaires asked to the founder of “Alam Travel and Transport Solution”:

1. A brief description of the company's history.
2. What are the services and products offered by the company?
3. Who are the key customers of the business? (age or profession)
4. The founders personal story about how he came up with the business idea
5. What challenges did the founder face in raising capital to launch the
company?
6. What obstacles did entrepreneur face as a result of their families or
society's influence on their decision to pursue business as a career?
7. Did the founders' decision to follow the business idea have any positive or
negative effects on society or culture?
8. What were the major business challenges that the founder faced, and how
did he overcome them?
9. What are some of the business founders' personal characteristics that
benefited the company?
10. How will consumers be able to obtain their products? What are the
channels? Is it effective? How much does it cost?
11. How strong is the customer relationship? Is it personal or automated? Do
you do anything special to create a bond with customers?
12. What is the product's distribution, pricing, and promotion strategy?
 13. What were the most significant threats in this industry?
14. Who is the primary competitor for this industry?
15. Is risk capital set aside in the company?

Entrepreneur’s Profile

Entrepreneur Name Shamsul Alam Rifat

Education Undergrad student at North South

University studying SCM.
Company Name Alam Travel and Transport Solution

Business Type Travel and Transport

Business Card:

Interview with the owner link:

https://drive.google.com/file/d/10j7z1NwDpaBfl6IObUoa4JSRSvtfmZk9/view?us
p=sharing