Business Plan: Easy Technology

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BUSINESS PLAN

EASY TECHNOLOGY

PREPARED FOR:
MS. SITI NAZIRAH
BINTI OMAR

PREPARED BY:
1. NUR AMISHA BINTI ABDULLAH
2. NURUL NADIAH BINTI NIZAM
3. NURULAIN BINTI FADZIL
4. QISTINA BALQIS BINTI ASZME
5. YANG HANISAH FITRI BINTI MUSA
UNIVERSITI TEKNOLOGI MARA (UiTM) CAWANGAN MELAKA KAMPUS ALOR GAJAH
ACC220 - BACHELOR IN ACCOUNTING (HONS.)
FACULTY OF ACCOUNTING

ENT 530
PRINCIPLES OF ENTREPRENEURSHIP

FACULTY & PROGRAMME : FACULTY OF ACCOUNTANCY

SEMESTER & GROUP : SEMESTER 4 (MAC220 4E)

PROJECT TITLE : BUSINESS PLAN REPORT (30%)


(CLOTHMATE SOLAR SPINNER)

LECTURER : MADAM SITI NAZIRAH BINTI OMAR

NAME : NUR AMISHA BINTI ABDULLAH


(2023103085)
NURUL NADIAH BINTI NIZAM
(2023136063)
NURULAIN BINTI FADZIL
(2023131525)
QISTINA BALQIS BINTI ASZME
(2023114559)
YANG HANISAH FITRI BINTI MUSA
(2023141403)
ACKNOWLEDGEMENT

Assalamualaikum warahmatullahi wabarakatuh, First and foremost, we would like to thank


Allah SWT for providing us with the chance to successfully complete this business plan report.
Alhamdulillah, with His guidance and fortitude, we were able to locate the information and materials
we needed to complete the coursework evaluation provided to us for our ENT530 topic. This business
plan report taught us a lot, such as how to get into the corporate world and how to keep ahead of the
ever-changing market in order to be successful.

Furthermore, we would like to thank Madam Siti Nazirah binti Omar, our subject instructor, for
allowing us to finish this business plan report. Despite the challenges, her enthusiasm to share all of
her knowledge and experience on the issue made completing this case study a breeze. She provided
us with solid support and assistance in a variety of ways. She also provided suggestions on many
elements of the project. We are appreciative for all of her help.

We worked very hard on this case study, but it would not have been possible without the
support and cooperation of our families and friends. They have provided us with various suggestions
and assistance in a variety of ways. We'd like to thank our families and friends for their
encouragement and support, which has considerably benefited us in finishing this project.

Last but not least, we'd like to thank Prof Madya Dr. Abdul Rahim Ridzuan as our supervisor,
for his direct or indirect support of this project. We appreciate the time and effort he put into our
business idea: Clothmate Solar Spinner until we were able to effectively complete it. Thank you to
everyone who has given their time and abilities to help us

2
TABLE OF CONTENT

ACKNOWLEDGEMENT.........................................................................................................................2
1.0 EXECUTIVE SUMMARY.................................................................................................................. 5
2.0 COMPANY PROFILE....................................................................................................................... 6
2.1 DETAILS OF COMPANY NAME AND LOGO............................................................................ 6
2.1 COMPANY BACKGROUND............................................................................................................ 7
3.0 ENVIRONMENTAL INDUSTRY ANALYSIS.....................................................................................8
3.1 OVERALL NATURE OF THE INDUSTRY..................................................................................8
3.2 NOTE TRENDS..........................................................................................................................8
3.3 KEY SUCCESS FACTOR.......................................................................................................... 9
4.0 DESCRIPTION OF VENTURE....................................................................................................... 10
4.1 DETAIL OF PRODUCT............................................................................................................ 10
4.2 PROBLEMS WITH THE COMPANY’S PRODUCT WILL SOLVE............................................ 10
4.3 VALUE PROPOSITION............................................................................................................ 10
4.4 DEMONSTRABLE CUSTOMER DEMAND..............................................................................11
4.5 EXISTING COMPETITION....................................................................................................... 11
4.6 TIMELINES...............................................................................................................................11
5.0 MARKETING ANALYSIS AND COMPETITION.............................................................................12
5.1 MARKETING OBJECTIVES.....................................................................................................12
5.2 TARGET MARKET................................................................................................................... 12
5.2.1 MARKET SEGMENTATION (DEMOGRAPHIC & PSYCHOGRAPHIC)......................... 13
5.3 MARKET TREND..................................................................................................................... 13
5.4 MARKET SIZE..........................................................................................................................13
5.5 SALES FORECAST................................................................................................................. 14
5.7 MARKETING STRATEGIES.....................................................................................................15
5.8 MARKETING BUDGET............................................................................................................ 16
7.0 ORGANISATIONAL PLAN.............................................................................................................20
7.1 OWNERSHIP STRUCTURE.................................................................................................... 20
7.2 MANAGEMENT TEAM.............................................................................................................21
7.2.1 MANAGERS AND ROLES..............................................................................................21
7.2.2 RESUMES OF THE TOP MANAGEMENT TEAM MEMBERS.......................................22
7.3 LIST OF ADMINISTRATION EXPENSES................................................................................ 23
7.3.2 LIST OF EQUIPMENT.................................................................................................... 24
7.4 LIST OF UTILITIES.................................................................................................................. 25
8.0 FINANCIAL PLAN..........................................................................................................................25
8.1 START-UP COST..................................................................................................................... 25
8.2 WORKING CAPITAL................................................................................................................ 26
8.4 TABLE OF DEPRECIATION.....................................................................................................27
8.5 CASH FLOW STATEMENT......................................................................................................28
8.6 PRODUCTION COST FORMA STATEMENT.......................................................................... 29
8.7 INCOME STATEMENT.............................................................................................................30
8.8 BALANCE SHEET....................................................................................................................31
9.0 PROJECT MILESTONES...............................................................................................................32
Table 18: Project milestones..............................................................................................................32
10.0 CONCLUSIONS........................................................................................................................... 32
11.0 APPENDIX....................................................................................................................................33
12.0 REFERENCES............................................................................................................................. 33

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1.0 EXECUTIVE SUMMARY

Easy Tech, established in 2024, is a dynamic and innovative company dedicated to providing
cutting-edge solutions for everyday needs. Specialising in the production of cloth hanging spinners,
we are committed to enhancing the convenience and efficiency of household chores. The
headquarters are located in Taman Intekma, Alor Gajah, Melaka, Malaysia. As a product-focused
company, Easy Tech prioritises the quality, durability and user-friendliness of our products. Our
slogan, “Easy to go”, reflects our mission to create simple, effective and reliable tools that seamlessly
integrate into our customers' lives. We strive to make daily tasks easier, allowing our customers to
enjoy more of what matters most.

The manufacturing factory of our company is located at Kawasan Perindustrian Cheng, 75250
Melaka. The location is strategic for the society since it can be easily accessed. This area provides
reliable utilities and government incentives that can reduce operational costs. Additionally, the
presence of our company enhances opportunities for collaboration and innovation. Easy Tech
operates on Monday to Friday from 8 a.m. to 5 p.m. Our company is a business of partnership
between 5 members which are Nur Amisha binti Abdullah as the Chief Executive Officer. Nurul
Nadiah binti Nizam as Chief Technology Officer, Nurulain binti Fadzil as Chief Marketing Officer,
Qistina Balqis binti Aszme as Chief Operating Officer and Yang Hanisah Fitri binti Musa as Chief
Financial Officer.

Easy Tech provides a portable spinner dryer powered by solar energy, designed to simplify
tasks like drying laundry or hanging clothes. It caters to individuals with busy lifestyles, such as
workers and students, by automating the laundry process and freeing up valuable time. Its versatility
allows it to be used even on rainy days, ensuring convenience and reliability. Our product, on the
other hand, offers a practical and sustainable solution to common laundry challenges, making it a
valuable addition to any household.

We promote our products through various channels to ensure maximum reach and
engagement. Our marketing efforts include distributing business cards, utilising social media
platforms, and placing advertisements at roadside. Our web platforms are meticulously designed to
adapt to evolving client trends, ensuring a seamless and user-friendly experience. Customers can
purchase our products through multiple convenient options. These include our physical store, our
website, and popular online buying platforms such as Shopee and Go Shop.

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2.0 COMPANY PROFILE

2.1 DETAILS OF COMPANY NAME AND LOGO

Figure 1: Easy Tech Logo

Easy Technology, set to commence operations on 1st March 2024, is an innovative startup dedicated
to developing sustainable and user-friendly solutions for everyday challenges. Our flagship product,
the Clothmate Solar Spinner, exemplifies this mission by harnessing solar energy to power a gentle
spinning mechanism for faster, more even clothes drying, significantly reducing electricity reliance.
Based on the logo, the cloth symbolised our primary objective in innovating the spinner. The blue
colour represents confidence, imagination, inspiration and intelligence.

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2.1 COMPANY BACKGROUND

As a new entrant in this industry, Easy Tech is dedicated to providing high-quality spinners that
prioritise safety and innovation for households. Our mission is to create simple, effective and reliable
tools that seamlessly integrate into our customers' lives. Meanwhile, our company is to revolutionise
everyday living by delivering sustainable, and user-friendly solutions that simplify daily tasks.

Company Name Easy Technology.Co

Business Address Sp 1107, Taman Intekma


Jalan Intekma 3, 78000, Lendu, Malacca, Malaysia

Website/e-mail address +6072347659

Telephone Number +6071247352

Email Easytech@gmail.com

Form of Business Partnership

Main Activity Clothmate Solar Spinner

Date of Commencement 1st March 2024

Registration Number SA05725891-A

Date of Registration 2nd April 2024

Name of Bank RHB Bank

Bank Account Number 13469753987610

Table 1: Company Background of Easy Tech

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3.0 ENVIRONMENTAL INDUSTRY ANALYSIS

3.1 OVERALL NATURE OF THE INDUSTRY

Easy Tech serves a rising solar, textile and household appliance market. Demand for smart,
energy-efficient and sustainable household appliances is rising. As solar technology becomes
cheaper and more efficient, eco-conscious consumers are buying products like the Clothmate Solar
Spinner.

Easy meets the demand for time-saving, fabric-friendly textile care advancements. Traditional electric
dryers compete, but the solar-powered sector is young. High development costs and consumer
adoption of solar-powered are challenges.

Also, Clothmate Solar Spinner success depends on consumer awareness. Marketing and educating
about solar-powered textile are crucial. The Clothmate Solar Spinner fits nicely in a market driven by
sustainability, innovation and eco-friendly appliances. Competitive price, good marketing and
consumer value acceptance will determine success.

3.2 NOTE TRENDS

The observed direction of movement in a financial market is commonly referred to as a trend. The
Clothmate Solar Spinner is designed for long-term operation. The selection of Malacca as its location
is strategic due to the manufacturing sector’s dominance and its historically known as a trading port,
which contributes considerably to the country’s GDP.

Demographic Influences

Demographic influences are the diverse factors related to the characteristics of a population that can
impact business operations, market dynamic and consumer behaviour. These influences can include
factors such as age, gender, income level, education, ethnicity, household size, geographic location,
and lifestyle preferences. We are providing eco-friendly and cost-effective solutions to meet the
requirement of environmentally conscious consumers and households that are seeking
budget-friendly solutions.

Technological Influences

Advancements in solar technology and smart home integration are key drivers in the household goods
market. Products that incorporate these technologies offer added convenience and efficiency,
attracting tech-savvy consumers.

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3.3 KEY SUCCESS FACTOR

We believe the cloth hanging spinner sector has bright futures. As technology evolves and customer
preferences shift towards sustainable and convenient home solutions, new devices like the Clothmate
Solar Spinner will be in demand. Easy Tech can capitalise on these opportunities and continue
industry growth by staying ahead of trends and focusing on our key success criteria. In order to
achieve the this, there is a few key success factors such :

1. Technological Efficiency and Innovation


2. Sustainability and Eco-Friendliness
3. Cost-Effectiveness and Economic Benefit
4. Consumer Awareness and Education

Technological Efficiency and Innovation

Ensuring high solar power efficiency and reliability and effective textile care for gentle and throughout
drying. Smart technology for user control and convenience night also distinguish the product from
electric dryers.

Sustainability and Eco-Friendliness

Using the Clothmate Solar Spinner’s energy savings and carbon footprint reduction to attract
eco-conscious customers. Marketing the product’s sustainability can boost its attractiveness and meet
customer demand for green items.

Cost-Effectiveness and Economic Benefit

Offering competitive pricing to make the product accessible to many users. Highlighting the Clothmate
Solar Spinner’s long-term energy bill savings over regular dryers helps boost its value proposition.

Consumer Awareness and Education

Using effective marketing to promote solar-powered textile care. Clear explanation of product benefits,
demonstrations and testimonials can boost adoption and brand loyalty.

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4.0 DESCRIPTION OF VENTURE

4.1 DETAIL OF PRODUCT

Easy Tech's Clothmate Solar Spinner is a cost-effective and environmentally friendly clothes dryer that
uses solar energy. Solar panels transform sunshine into energy, eliminating the need for electricity
and lowering energy expenses. Gentle spinning guarantees consistent drying and protects materials,
extending their durability. High-quality, weather-resistant materials make the product suited for indoor
and outdoor use. Compact and portable, its user-friendly design makes installation and operation
simple. The clever control system changes spinning speed based on sunlight intensity for optimal
efficiency and prevents overheating. This product prevents shrinkage and damage, lowers electricity
expenses, and decreases carbon emissions.

4.2 PROBLEMS WITH THE COMPANY’S PRODUCT WILL SOLVE

The Clothmate Solar Spinner, offered by Easy Tech, addresses several problems of traditional laundry
drying methods. By harnessing solar energy, it reduces reliance on electricity, thereby lowering utility
bills and decreasing carbon emissions. Its delicate spinning mechanism ensures fabric integrity,
preventing damage often caused by conventional dryers. Regardless of weather conditions, it
guarantees even drying without leaving damp spots, making it reliable for all seasons. Compact and
lightweight, it's ideal for urban dwellers with limited space. Compared to line drying, its automatic
operation saves time and effort. With a sturdy and low-maintenance design, it minimises repair costs.

4.3 VALUE PROPOSITION

The Clothmate Solar spinner by Easy Tech.Co combines efficiency, sustainability, and convenience
for a compelling value proposition. By using solar energy, it cuts electricity use and energy bills.
Long-term expenditures are reduced by the sturdy, low-maintenance architecture. It reduces fossil fuel
use and carbon footprints, promoting sustainability. The gentle spinning mechanism evenly dries
fabrics without harming them, retaining quality and durability. The sophisticated control system
automatically adjusts spinning speed according to sunshine intensity, and its compact and portable
design is great for tiny living areas. It consistently dries and eliminates damp spots in all weather
thanks to its high-quality, weather-resistant materials. The efficient design speeds up drying and
eliminates manual labour, making it ideal for busy households.

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4.4 DEMONSTRABLE CUSTOMER DEMAND

Customer demand for the Clothmate Solar Spinner had shown its business viability and consumer
appeal. Through surveys and insightful focus group discussions, market research had revealed
consumer preferences and buying intent. Individuals’ propensity to pre-order or pre-sell indicates
initial interest and anticipated demand. Market interest can be dynamically assessed by the number of
backers and dollars raised on crowdfunding sites. Social media engagement measures consumer
sentiment, questions and discussions about related products in real time. A careful review of
competitors’ performance in similar market segments supports demand. Industry statistics and
surveys support the Clothmate Solar Spinner, demonstrating a growing market for solar-powered
devices and outdoor gear. Pilot programmes and localised test markets provide useful feedback to
tailor products to consumer preferences.

4.5 EXISTING COMPETITION

Easy Tech competes with other textile care appliances. Traditional electric dryers from LG and
Samsung dominate the market with their wide availability and improved features, responding to varied
client tastes. Another competitive choice is gas dryers, led by Maytag and Electrolux, which dry faster
and cost less. Miele and Bosch heat pump dryers are energy efficient and gentle on fabrics. Air drying
alternatives like clotheslines and drying racks remain popular for eco-conscious consumers. While
solar-powered dryers have little direct competition, Easy Tech can capitalise on increased interest in
eco-friendly technologies. LG and Samsung smart dryers, which integrate with home automation
systems and have superior sensors, provide them another advantage. The Clothmate Solar Spinner
must use targeted marketing and customer education to highlight its sustainability, cost-effectiveness,
and innovative solar technology to stand out in this market.

4.6 TIMELINES

Easy Tech is strategically preparing for both short-term and long-term events to solidify its position as
a leader in eco-friendly laundry solutions. In April 2024, the company plans to relaunch its product
with enhancement based on positive customer feedback. Collaborating with well-known artists and
influencers, Easy Tech Solar Spinner aims to showcase the product’s efficacy, particularly highlighting
its benefits for environmentally-conscious consumers. This collaborative campaign is expected to
generate excitement and attract new customers upon the relaunch. Looking ahead, by November
2024, Easy Tech will invest in research and development to innovate its product further, ensuring its
continued relevance in the market. Additionally, in March 2025, the company plans to expand its
presence by opening new branches both domestically and internationally, aiming to meet growing
market demand and establish itself as a prominent player in sustainable home solutions on a global
scale.

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5.0 MARKETING ANALYSIS AND COMPETITION

5.1 MARKETING OBJECTIVES

Easy Tech has the strategic purpose of marketing the Clothmate Solar Spinner by focusing on key
goals. First and foremost, the organisation aims to improve brand recognition by actively engaging
with social media, collaborating with influential individuals, and securing coverage in publications that
are relevant to its target audience. Furthermore, the primary goal is to promote extensive acceptance
of the product by organising launch events, implementing trial programs, and establishing agreements
with retailers.

Then, Maximising sales of e-commerce platforms, and the utilisation of affiliate marketing. It is
essential to educate consumers about the advantages of solar-powered drying through the provision
of informative materials, workshops, and dedicated customer assistance. Developing client loyalty
entails the implementation of incentives schemes, collecting feedback, and cultivating a user
community.

Finally, it is crucial to broaden the scope of the market by focusing on overseas markets through the
establishment of alliances, localised marketing campaigns, and active involvement in industry events.
The aims of the Clothmates Solar Spinner are to position it as a top choice for environmentally friendly
and affordable laundry drying, while also ensuring long-term growth and market expansion.

5.2 TARGET MARKET

The target market for Easy Tech includes students, housewives, and busy individuals seeking
convenient and eco-friendly laundry solutions.

Students

College students living in dormitories or small apartments often have limited space for drying clothes.
Clothmate Solar Spinner provides a space-saving and energy-efficient option for them to do laundry
without relying on traditional dryers.

Housewives

They are often responsible for managing household chores, including laundry. Clothmate Solar
Spinner offers a convenient and eco-friendly, allowing them to efficiently dry clothes while minimising
energy consumption.

Busy Individuals

Professionals with hectic schedules may not have time for extensive laundry routines. Clothmate
Solar Spinner provides a quick and efficient way to dry cloths, reducing the need for time-consuming
rips to the laundromat or waiting for clothes to air dry

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5.2.1 MARKET SEGMENTATION (DEMOGRAPHIC & PSYCHOGRAPHIC)

In demographic segmentation, the product targets households with a monthly income exceeding
RM2,000, ensuring accessibility to those with the financial capacity to invest in innovative home
solutions. This demographic segment represents families who prioritise quality and are likely to
appreciate the features and benefits of the solar spinner.

In psychographic segmentation, Easy Tech caters to environmentally-conscious consumers who


prioritise sustainability. By highlighting the eco-friendly aspects of the product, such as its energy
efficiency.

5.3 MARKET TREND

The market trend for Easy Tech reflects a broader shift towards sustainable and eco-friendly products.
With concerns about climate change and environmental degradation growing, Consumers are
increasingly seeking out solutions that minimise their carbon footprint and reduce reliance on
traditional energy sources. Easy Tech taps into this trend by offering a convenient and practical
solution powered by solar energy. Advancements in solar technology have made solar-powered
devices more efficient, reliable, and affordable, further fueling the market trend. As the cost of solar
panels decreases and their efficiency increases, consumers are more willing to invest in
solar-powered products like the Clothmate Solar Spinner.

5.4 MARKET SIZE

Market size Amount

Student 19,373

Housewive 650,000

Busy Individuals 33,970,000

Table 2: Market size of target market

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5.5 SALES FORECAST

Sales Forecast for Clothmate Solar Spinner Year 2024

Month Sales Collection (RM)

January 120,000

February 80,000

March 100,000

April 100,000

May 90,000

June 110,000

July 110,000

August 110,000

September 110,000

October 110,000

November 110,000

December 110,000

Total 1,220,000

Table 3: Sales Forecast for Clothmate Solar Spinner Year 2024

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5.6 COMPETITION AND COMPETITIVE EDGES

As of 2024. Easy Tech's main competitors are LG and Samsung that are known for manufacturing a
wide range of home appliances, including drying machines. These competitors offer a variety of
models with advanced features and technologies, catering to different consumer preferences.
However, Easy Tech possesses several competitive edges that set it apart from its competitors:

1. Energy Efficiency: Clothmate Solar Spinner utilises solar energy to power its drying
mechanism, significantly reducing reliance on electricity.
2. Consistent Drying Performance: Regardless of weather conditions, our product delivers
consistent and eliminates the risk of clothes developing damp spots.
3. Space-Saving Design: With its compact and lightweight design, our product is well-suited for
urban dwellers or individuals with limited space. Its small footprint allows for easy installation
in apartments, condos, or smaller homes where space is at a premium.

5.7 MARKETING STRATEGIES

Easy Tech must use strategic marketing to convey the Clothmate Solar Spinner’s value and attract
target market attention. Social networking, targeted online advertising, and content marketing can
reach the intended demographic. Educational movies, blog entries and infographics can promote the
Clothmate Solar Spinner’s eco-friendliness, cost-saving possibilities and revolutionary solar
technology. Partnering with influencers and eco-conscious organisations can boost brand awareness
and credibility by reaching into environmentally sensitive consumers. Easy Tech can also increase
organic traffic by optimising its website for search engines and using keywords relating to
solar-powered appliances and sustainable living. Offline tactics including eco-friendly events, trade
exhibits and community outreach programmes can directly engage consumers and demonstrate
products. Strategic partnerships with shops and online marketplaces help expand Clothmate Solar
Spinner distribution. Consumer loyalty programmes and referral incentives can boost repeat business
and word-of-mouth. Easy Tech can market the Clothmate Solar Spinner as a top textile care
alternative for eco-conscious consumers by blending digital, offline and partnership initiatives.

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5.8 MARKETING BUDGET

MARKETING EXPENDITURE

RM

Fixed Assets/ Capital Expenditures

Signboard 2,000

Visual Display 2,000

Billboard 3,000

Social media ads 1,400

Working Capital/ Monthly Expenditure

Advertising cost 1,500

Transportation cost 1,000

Salesman commision 1,100

Other Expenditures

Other 2960

TOTAL 12,000

Table 4: Marketing budget

15
6.0 OPERATION/PRODUCTION PLAN

● Development

Easy Tech’s current headquarters is in Cheng, Melaka. We want our factory to be near to the
headquarters, thus we wanted it to be in Cheng, which has an industrial area. Our materials
are nylon oxford, rubber and stainless steel, which have many suppliers in the Cheng area.
The location is strategic for the society since it can be easily accessed.

We had decided to establish our factory in Kawasan Perindustrian Cheng, Cheng 75250
Melaka.The primary reason we picked this factory was due to its proximity with our
headquarters.It includes 6600 sq ft of manufacturing space. Additionally, proximity to
suppliers of raw materials and components enhances supply chain efficiency and reduces
lead times. Moreover, choosing a location with a skilled labour force ensures high-quality
manufacturing and innovation capabilities. Furthermore, considering factors such as
government incentives, tax breaks and regulatory environments can influence the decision,
fostering a business-friendly ecosystem. Thus, enabling Easy Tech factories to thrive and
meet the demands of a competitive market.

● Production

Based on the sales projection, the table below illustrates the production that Each Tech
created for Clothmate Solar Spinner in a day and month.

Average sales forecast per month RM 100,000

Price per unit RM 200

Number of outputs per month RM 100,000/ RM 200


= 500 units

Number of operation days per month 26 days

Number of outputs per day 500 units/ 26 days


= 19 units

Estimate % safety stock per month 494 units + 10%


= 543 units

Actual number of outputs per day with 543 /26 days


safety stock = 21 units

Table 5: Production table

Production planning is crucial because it ensures that the production process is efficient and adapted
to the needs of the client and the business. A good production plan will determine how much output to
produce over a specific time period while saving money.

16
The manufacturing process can begin as soon as the raw materials arrive from the supplies and the
required equipment and machinery are installed in the factory. The arrival of raw materials is
determined by the supplier, however we are aiming to have all necessary supplies arrive at the same
time so that the manufacturing process may proceed smoothly.

● Facilities

The diagram below is the floor plan for the factory area:

Figure 2: Plan of factory

Overhead expenses Cost (RM)

Repair and maintenance 900

Fuel expenses 700

1,600

Other expenses (insurance) 600

2,200

Table 6 : Overhead Expenses

Easy Tech needs extensive infrastructure to manufacture, assemble and distribute the
Clothmate Solar Spinner. This comprises a sophisticated production plant with cutting-edge
equipment to effectively produce components to high quality and safety standards. A
dedicated research and development centre fosters product and innovation and continual
improvement, while dedicated manufacturing lines expedite assembly procedures. Strategic
warehousing and distribution centres streamline logistics and storage. Easy Tech’s
environmental duty is shown by its sustainability programme throughout all facilities.

17
● Staffing

Position No. of Employment Duties


personnel relationship

Production 1 Full-time Supervise the manufacturing


Supervisor process for the standards to be
met

Assembler 2 Full-time Assembling components and


parts to construct according to
specifications

Packer 2 Full-time Packing finished goods into


packaging

Van Driver 1 Full-time Loading and unloading products


safely and efficiently

Table 7: Staff and duties

Position Quantity Monthly Salary EPF 13% SOCSO 2% Total (RM)


(RM) (RM) (RM)

Production 1 1,500 195 30 1,725


Supervisor

Assembler 2 1,500 195 30 1,725

Packer 2 1,500 195 30 1,725

Van Driver 1 1,500 195 30 1,725

Table 8: Staffs Salary, EPF, and SOCSO

For the production team at Easy Tech, maintaining a steady rate of production is paramount,
with each team member fully dedicated to their tasks. The production supervisor plays a key
role in ensuring smooth operations, focusing on cost-cutting measures and maintaining a
consistent production rate.

● Material

No Description Unit Quantity Unit Price Cost (RM)


(RM)

1 Oxford Nylon 1.1 metres 18 19.80

2 Stainless Steel 0.7 kg 15 10.50

3 Rubber 0.3 kg 10 3.00

Table 9: Material

18
● Operation Budget

OPERATION EXPENDITURE

RM

Fixed Assets/ Capital Expenditures

Motor Vehicle 28,000

Installation Machine 24,000

Quality Control Machine 10,000

Manufacturing equipment 12,000

Working Capital/ Monthly Expenditure

Raw materials 19,980

Salaries, EPF & SOCSO 6,900

Overhead Expenses 4,050

Pre-operations

Other expenditure 20,000

Business Registration & licences 1,000

Insurance & Road Tax for Motor Vehicle 3,000

TOTAL 108,930

Table 10: Operation Budget

19
7.0 ORGANISATIONAL PLAN

7.1 OWNERSHIP STRUCTURE

Easy Tech’s operates as a partnership with five owners who share ownership and management
responsibilities. Partnerships offer simplicity in formation and lower startup costs but come with
unlimited liability for the partner. Each partner is individually liable for their share of the company’s
debts and the total debt incurred. The partners have agreed to share profits and liabilities equally
based on the percentage of capital contributed by each partner.

Name of Partners Total Capital Contribution Ownership Percentages (%)


(RM)

Nur Amisha Binti Abdullah 100,000 20%

Nurul Nadiah Binti Nizam 100,000 20%

Nurulain Binti Fadzil 100,000 20%

Qistina Balqis Binti Aszme 100,000 20%

Yang Hanisah Fitri Binti Musa 100,000 20%

Table 11: Ownership and contributions

20
7.2 MANAGEMENT TEAM

7.2.1 MANAGERS AND ROLES

Position Task & Responsibilities

Chief Executive Officer ● Build a high- performing managerial


team
● Oversee all operations and business
activities
● Make high-quality investment decisions.

Chief Technology Officer ● Identify new technologies that provide a


competitive edge
● Aid departments in making profitable
use of technology
● Oversee IT architecture to guarantee
operation and efficiency

Chief Marketing Officer ● Assess the market and the company’s


position in the market
● Ensure brand positioning and
awareness
● Coordinate promotional campaigns

Chief Operating Officer ● Oversee daily business operations


● Encourage employee alignment with
business objectives
● Manage human resource management

Chief Financial Officer ● Manage accounting procedures


● Examine financial statements to boost
profits
● Identify investment opportunities as well
as mergers and acquisitions

Table 12: Managers and roles

21
7.2.2 RESUMES OF THE TOP MANAGEMENT TEAM MEMBERS

Figure 3: Resume of top management team members

22
7.3 LIST OF ADMINISTRATION EXPENSES

ADMINISTRATIVE EXPENSES

RM

Fixed Assets/ Capital Expenditures

Land & Building 100,000

Office Equipment 26,110

Company Vehicle 30,000

Security Devices 5,000

Working Capital/ Monthly Expenditure

Overhead expenses 4,000

Salaries, EPF and SOCSO 11,000

Other Expenditures

Other 5,000

TOTAL 176,110

Table 13: List Of Administration Expenses

23
7.3.1 LIST OF ADMINISTRATION PERSONNEL AND SCHEDULE OF REMUNERATION

Position Quantity Monthly Salary EPF (RM) SOCSO (RM) Total (RM)
(RM) 13% 2%

Chief Executive 1 4,000 520 80 4,600


Officer

Chief Operating 1 3,200 416 64 3,680


Officer

Chief Financial 1 3,200 416 64 3,680


Officer

Chief Technology 1 2,800 364 56 3,220


Officer

Chief Marketing 1 2,800 364 56 3,220


Officer

18,400

Table 14: List of administration personnel and schedule of remuneration

7.3.2 LIST OF EQUIPMENT

Item Quantity Price/per Unit (RM) Total Cost (RM)

Office Furniture 5 sets 2,300 11,500

Computer 5 sets 2,000 10,000

Printers 1 unit 1,742 1,742

Shredders 1 unit 1,200 1,200

Whiteboard 2 units 135 270

Air conditioner 2 units 700 1,400

Table 15: List of equipment

7.4 LIST OF UTILITIES

LIST OF UTILITIES RM

Rental 2,500

Electricity 1,000

Waste disposals 1,500

5,000

Table 16: List of utilities

24
8.0 FINANCIAL PLAN

8.1 START-UP COST

Figure 4: Start-up cost

8.2 WORKING CAPITAL

25
Figure 5: Working capital

8.3 START-UP CAPITAL AND FINANCING

ESTIMATED START-UP CAPITAL 325,000

FINANCING

Equity: Share & Venture Capital 325,000

Loan 325,000

Annual Interest 6%

Loan Duration 10

Table 17 : Start-up capital and financing

26
8.4 TABLE OF DEPRECIATION

Figure 6: Table of depreciation

27
8.5 CASH FLOW STATEMENT

Figure 7: Cash flow statement

28
8.6 PRODUCTION COST FORMA STATEMENT

Figure 8: Production cost forma statement

29
8.7 INCOME STATEMENT

Figure 9: Income statement

30
8.8 BALANCE SHEET

Figure 10: Balance sheet

31
9.0 PROJECT MILESTONES

The table below lists the milestones for this project, along with their estimated completion timeframe.
The project shall commence on 01 March 2024.

Activities Start Dates

Incorporation of the venture 1 March 2024

Completion of design and development 6 April 2024

Completion of prototypes 11 April 2024

Obtaining of sales representative 19 April 2024

Signing of distributors and dealers 23 April 2024

Ordering of materials in production quantities 30 April 2024

Starting of production or operations 5 May 2024

Receipt of first orders 6 June 2024

Delivery of first sales 13 June 2024

Table 18: Project milestones

10.0 CONCLUSIONS

Easy Technology Co. has crafted a detailed financial plan to ensure our business grows and
stays profitable. By carefully outlining start-up costs, operating expenses, and revenue forecasts,
we've shown that our business model is solid and promises good returns. Our partnership structure,
along with our diverse leadership team, provides a strong foundation for managing resources
effectively and staying innovative. Our next steps involve securing funding through grants and loans,
amounting to RM1,000,000, crucial for launching the Clothmate Solar Spinner and setting up
necessary infrastructure. Once funded, we'll focus on establishing manufacturing facilities, offices, and
kickstarting marketing campaigns to ensure everything is ready for our planned launch on 1st March
2024. Additionally, we'll implement a robust financial monitoring system to track progress and adjust
as needed. We're confident in Easy Tech.Co's potential and our commitment to offering sustainable
household solutions. With the right funding and strategic execution, we're ready to turn our vision into
reality, contributing positively to the market while promoting environmental responsibility. We're eager
to collaborate with lenders and investors to make this happen and ensure Easy Tech.Co's success.

32
11.0 APPENDIX

Figure 11: Prototype of Clothmate Solar Spinner

33
12.0 REFERENCES

1. Discover Gentari: Learn, Connect, Meet. (2024, May 14). Gentari.

https://www.gentari.com/?utm_source=google&utm_medium=cpc&utm_campaign=petronasg

entari_google_traffic_search_GentariGlobalWebsite-GENERIC_JunDec2024

2. De Socio, M. (2024, April 19). Portable Power Station vs. Home Battery: Which One Do I

Need? CNET.

https://www.cnet.com/home/energy-and-utilities/portable-power-station-vs-home-battery-whic

h-one-do-i-need/

3. Bunyan, J. (2023, June 23). Poll: Only four in 10 Malaysians happy with work-life balance,

over half regularly clocking more than eight hours a day. Malay Mail.

https://www.malaymail.com/news/malaysia/2023/06/22/poll-only-four-in-10-malaysians-happy-

with-work-life-balance-over-half-regularly-clocking-more-than-eight-hours-a-day/75779

4. Number of employed people in Malaysia 2013-2022. (2023, November 30). Statista.

https://www.statista.com/statistics/621259/employment-in-malaysia/#:~

5. What is a spin dryer? (n.d.). https://www.croatiantrade.com.

https://www.croatiantrade.com/news/company-news/What-is-a-spin-dryer.html

34
CLOTHMATE
SOLAR
SPINNER

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