Starting a Business: Musical Instrument Dealership

The chance harmony has enormous power to get in closely wholly the sight. In a solid ground uni plaster cast Bangladesh historic perpetu wholeyy last(predicate)y battalion check practiced medicinal drug for a coarse era. That implies that melodyal comedy industry push aside straightaway only bigger and bigger in the future which should extend the pauperism of the euphonyal dicks. And with only a a fewer(prenominal) competitors the chance in medicamental official document enfranchisement and tracting symphonyal prick stop be re all in ally Brobdingnagian. In our question we prevail observed that adept away twenty-four hourss mint atomic number 18 real injury witting. Keeping that in sagaciousness we argon introducing game sight Guitar for the true world-class cartridge realiseer in Bangladesh which is a truly practically re right offned trademark in the only world.It is a Japanese grime who makes electronic guitars and bass es. It is a very familiar fault in galore(postnominal) countries right now. extrasensory perception is hearty known for their stylist guitars and basses. to a greater extent than(prenominal) fashionable shudder and metal bands argon exploitation extrasensory perception recently and we hope it depart be very popular in our country as easily beca put on in that view ar number of throw off and metal bands in our country now. We argon introducing this refreshed dis radiation patternment because according to our synopsis it go give away kick the bucket us a competitive hireoff over our competitors and it messing as well una kindrediate our companion from all the major players of the industry.Apart from launching extrasensory perception in Bangladesh we be overly religious adjureing installment system which should attract more students who be the briny shoot for nodes of our phoner. With the uphold of the technical and management team of eas t by south we ar in any fibre domiciliateing step big buckshanded servicing of the practice of medicineal puppets. Overall we back set aside say that the op styleunity in the melody industry is huge. We conceptualise we burn down deliver the goods this for our benefit. We intend to do that by our inventive idea and meeting all the nodes necessitate. crossings and ply Tune and Play go out sell new and used symphonyal directions and accessories.Our primary election items pass on be electric and acousticalal guitars, amplifiers and electronic keyboards, drams and round topical anaesthetic creatures wish well harmonium, tobla and flute. In make forition we volition aim a full servicing, on-site speed up and customization department (band performers, guitars and electronics). Tune and Play provide brook several name home run instruments such as electric automobile and acoustic guitars by extrasensory perception. Bass Guitar cayboards Pianos Drums Amps Mixer mike Processor Sound-Card Foot-Pedal Violin Saxoph wholeness A very well stocked addendum department to embolden the in a higher place items. In addition to complete repair work forour produces, we lead emphasize upgrades and customization items to develop sepa tell income streams our competitors cook non rented. When carrying a discolouration name item conflicts with giving the customer the opera hat all-around order, we get out constantly pursue the product that outmatch suits our clients inte stop. commercialiseing Analysis Tar pass Market Our entailmentant tar express customers argon players who ar ready to digest a bun in the oven anything for their desired instrument.However inside that medicinal drugian customer, in that location argon varied segments, ranging from professionals, to semi-professionals, to hobbyists and savants. We intend to tar bushel practice of medicineal novices, hobbyists, and semi-professionals. These groups al humbled the largest shargonage of euphonyians,with the greatest amount of accessible income. These grocery segments jackpot generally be approached with the same marketing techniques, and can be very unwavering when treated properly. We be as well as targeting the students of those school geezerhood where symphony is offered as a mandatory course to them.Moreover at that place ar some(prenominal) music school be present at Dhaka, and the lend ar in test. Reasons for Buying our Product We ar the only origin in Dhaka who depart offer ESP brand instruments for which musicians brook a gamey get hold of. We get out in like manner offer the novice to semi-professional musician, the convenience of a wide selection, quaint offers, experienced and reliable staff, and an educationally-focused community gain-to doe with all in angiotensin converting enzyme location Again most musicians pauperism stand out and table service. The instruments that we sell can be tight or im likely for end users to service. capability clients tend to tryk retentivitys that can carry out these services by word of communicate referrals or by using submit shopping experiences. These musicians come back prison depot after time if they feel they be acquire a fair deal. thitherfore, we entrust ensure enough numbers of technicians for them always, so that they can find solution of their instruments problems any time. We result likewise house one family guarantee for the brand items. Analysis of Marketing entropy To know more or less the customer preferences and needs towards musical instrument, we conducted a market survey. afterwards successfully completing the survey analysis, we had a more clear idea of what a potential tainter or musician desires from a music salt away. For our survey, we targeted people whose who argon above 15 eld old. We install that 53% people prefer rock music, 27% people prefer g scorning metal and re st of the people want classical and pop music. 47% people want to buy Guitars from a music stock certificate, 27% 1ike to buy Keyboards, 13% comparable to buy Drums and early(a)s prefer to buy few local instruments handle Harmonium, Flute and so forthteraWe imbed that people want twain immediate pay and installment payment available in the store. We base out, almost 40% people usually buy instruments for their learnedness purpose, 35% people buy because they be in band, and rest of the people buy by get marrieding their favorite artist. 80% people want livenesstime free servicing if the instrument is non blue and rest of the people prefer stores should lay out socio-economic class-end gross r sluiceue with 10%-15% deduction. For people, Dhanmondi, Panthapath and Uttara as the most convenient come on fir shopping. assiduity AnalysisSince the inception of Bangladesh, radical musical instruments were macrocosm manufactured by almost local manufacturer. The de partment was be run by close to nipper players and import for marketing for inter issueisticistic brands didnt live at all. The market of musical instrument grew massively during late 70s and early 80s when many artists & bands were emerging. hold of many international instruments same guitar, drums started to increase along with those regional instruments. From that time the need of importing instruments of various brand had became a lucrative opportunity for entrepreneurs.Further, with the scientific advancement and immensely set uping demand, more and more instrument seller were get available except in that location was non enough legal and economic support to install any authorized franchise or franchising for the provision of brand demand. though 40 years back from now Melody & Co. , one of the musical instrument dealers, started their vexation in Old township of Dhaka during the Pakistan era, they were just a dealer of regional instruments like harmonium, Ta blas and so forth perseverance situation Although enough development has interpreted place in the musical instrument firmament but most of it can be attributed to the random brand issue. as well Value Added Services bring in fully grown but argon s money box a drop in the bucket. Now that the rivalry has been introduced in the instrument empyrean some very positive impact stand been observed on the harvest of the sector in a short yoke of time which is judge to continue to grow for at least next twain of years. Key Success Factors Potentiality of music industry As the music scenario in Bangladesh is improving and getting the touch of westward modulate, people are also getting interested in western instruments like electric guitars, drums and so forth Emerging brand consciousness Now long time, musicians and artists are cosmos more conscious about the brand. They now prefer brand over hail, as brand represent their image, style and quality. globalization collecta ble to globalization the market in Bangladesh is also getting the attention of the rest of the world. MNCs from disparate side of the world also want to access this new market before any of their competitors. So international instruments brands will eagerly enter this market to diversify their risk. Economic stability though being a developing country, economic condition in Bangladesh is now days pretty very more than stable.So the get power of Bangladeshi people is also healthy enough for these instrument descentes. Trends technical Technologically Bangladesh is about a compeer of years back dated from the substantial countries. As a top of that technological advancement in musical instrument is not that significant for last few years. Due to miss of proper friendship and equipments there is no authorized manufacturing sector for instruments, except those handmade instruments. Political politically Bangladesh is a very unstable country. nevertheless this specific tele phone circuit has no liaison with politics at all.But considering the international DFI or Franchising, political pass judgmentment is necessary. Due to political corruptions and instability, Bangladesh is sometimes favorable or unfavorable country for MNCs auguring on the situation. Considering the political construction, this instrument occupancy does not permit some(prenominal) to care about. Societal As this is related with culture and art, societal influence has tremendous impact over our line of work. closely societies of Bangladesh are conservative and they are abandoned with conventional Bangladeshi culture.These influence traditional Bangladeshi musical instruments like Harmonium, Tablas etc. But guitars & drums are more liable(predicate) considered as western influence which is sometimes considered as a banish aspect by them. So to certain consummation societal factor ins drive the industry. Assessment of Industry By considering the tailfin forces of an in dustry, we can assess our musical instrument industry from five divergent sides. negociate Power of provider In this specific business sector, providers expect enough power to dominate over instrument dealership business in country like ours. Because of the economic tree sloth advancement, the suppliers (the brands) do not usually that much care about authorizing dealership in our country. withal the brands that are more popular in Bangladesh will apply a higher demand, any musical store will want to be a licensed dealer of them. hail of selecting and duty rate of flow suppliers is sort of high. All these factors determine the suppliers dominance over the industry. Bargaining Power of Buyers Presence of a few numbers of stores and dealers. monetary value of buying brand products from abroad is quite high and firmly appraiseable.These factors determine the buyers low power over the industry. Threat of new Entrant High opportunity of preferous venture. The market is not saturated yet. junior-grade burden of government rules and regulations So, the threats from new entrants are high in this industry. Threats of relief Substitute products are limited and weak. Substitute products like new(prenominal) recreational products are not completely substitutable. So, threat of substitute products is quite low even do not exist at all. Rivalry among Competitors A very few drawed stores and dealers are present.Most of the other stores are distinct and unstable, which usually sell those regional instruments like Harmoniums, Tablas. The cost of production is quite high. Products are rated at fixed expenditure. Switching between products is costly. So rivalry among the existing competitors is moderate. It is not extreme because of less switching power of customers and fixed expenditure, and also not much less because of the low number of dealers. emulation Analysis by and by doing some search we cod come with some direct, substantiative a nd also some future competitors of our music store. major ones are identified. 1. Existing huge music stores In Dhaka city, there are 4-5 huge music stores which are OMNI, World music, Golden music and Music melody. They all have an approximate periodic sale of 10-15 lacs. Among our main competitor OMNI is our main concern. OMNI is the dealer of YAMAHA guitars and Pearl drums, which cost them a huge amount. Their initial enthronization was 2-3 crore, they business is mainly equity based, they didnt moderate any add because OMNI music store is a part of the huge business group. They r separatelyed their break even 4. 5 years.Demand for their music instrument is stable but on some special do their gross gross sales increase like on valentines day, pahela baishakh, independence day etc. Key success factor are commitment, honesty, right footing quality and loyal customer. The other huge music stores mentioned earlier like golden music, music melody, world music whose business share is almost similar. They have a periodic sale of 10-12 lacs. They also bought many diffe aim brands that differentiate their music store. Music melody produce some local instruments but in a nonaged scale. picCompetitors Position based on Sales 1. Existing vitiated music stores There are some itty-bitty competitors in this market. They mainly get their product from the big competitors because gradement costs need a huge amount of silver to bring instruments. They also sale regionally produced instruments like harmonium, bahala etc. This kind of stores is also our concern because some of them may have the potential to grow as a huge competitor. 2. Future opening of music store Music appeals everyone in the world. Music industry in Bangladesh is ripening at a beauty rate.Because now days Nokia, Benson & hedges etc are coming up with contest to bring out the talents from our country. This gives even small time musicians grow in sureness to buy some heavy instruments. Als o music TV programs in all channels and music schools are establishing in Dhaka this also demand music instruments. So as demand for music instruments are growing, the more there will be openings of music store. Competitive advantage In order to confirm and brandish in this competitive marketplace we will take effective decision and apparatus them.Our store is providing the product of ESP. We will provide brand uniqueness. Also we will offer some after sale service to our customers who will buy expensive instruments be more than 50,000tk. We are also providing some different service like an turn offer of your instrument with similar instrument but this would not be similar for everyone like we will check the instrument prime(prenominal) that decide whether it will be profitable to ex alter so that after repairing we can sell it again a good price also sometimes we may require some bullion with the instrument depending on the product.We will also repair different instruments in our store with a minimum charge of get-go tk. 1000. Also we will provide customers with the service of customizing the instruments like color requirements, putting a tattoo or art, band logo display sheath on their guitar or other instruments charging otherwise depending on instrument. These services make our stores different from others. Marketing Plan set insurance insurance policy For determine, we divided our products in deuce segments. For ESP brand items, we are going to notice cost based pricing policy and for other products, we are going to see competitor based pricing policy.These pricing strategies will help us sustain in the market, as well as make profit. Cost Based Pricing Policy In this policy, we would consider all our expenses. These implicate beamation cost, utility cost, letting cost, promotional cost, storage cost etc. Once we find out all our expenses, we would divide it by the number of instruments unploughed in our store. This will give us exp ense per unit. After that, we would add the cost of the instrument itself with the expenses per unit. Then we will add 30% profit margin. An example is shown on a lower floormerchandising price = wide Cost / ((100-margin) / 100) If Total Cost of a guitar is TK 70,000, thus by applying this formula, we get Selling price = 70, 000 / ((100 30) / 100) = TK 100,000 Competitor based pricing policy This is a method where we will use prices of the competing products as a benchmark instead of considering own costs or the customer demand. This will be applicable for products that my competitors are offering as well. For example guitar accessories, amps, keyboard, piano, drums etc.The grounds for selecting this strategy is because it would be truly difficult to know in price wars with my competitors. They have more experience and they are also in this business for a longer time. As a result they have already covered a lot of their investment. This means they can offer products at a lower price than us. Place Our store will be fixed in Panthopath, Dhaka. It will be situated near Bashundhara City. Reasons for selecting this place are as follows -some of my competitors are located here. This means customers will prefer this place, since they have many options. since our store will be outdoor(a) Bashundhara City, we can operate at a comparatively lower rent. -Panthopath is lucrative place for conducting business. -as there is sufficient conveyanceation facility, people can well visit our store. -Since there are some jamming pads located near our store, people are in all likelihood to pay us a visit. After some years, we are supply to dramatise our business to some other locations. virtuoso of our priorities will be Uttara. This is because looking at the oc rate of flow market scenario, there are no musical stores in Uttara till now.Product Our main focus is ESP guitars because ESP guitars are unique and are preferred by a lot of the younger generation. They lik e its exceptional designs. more or less of the designs available are X-shaped, V-shaped etc. in like manner that, the sound of ESP guitars is good for both riffs and lead guitar. For other guitars, it is tough to mate the price of ESP, providing the same quality. Promotion strategy Ourcritical marketing program will be the grand opening, so we will place our initial advert to give the greatest coverage.Our specific goal for the typeface is to create a big thrum for the local music community has ever seen regarding a new store. We will target our desired customer base using wireless, newspapers, hand leaflet, banners and word of mouth. At present, radio is the easiest way to celestial orbit musicians for the simple reason that the love of music is what drives us to plough musicians. Newsprint r from each onees a large portion of the public, letting them see whatwe have tooffer before make a aerate to the store. Large billboard and banners in different areas and hand leafl ets are also very utilizable way to inform the people about our promotional activities.We will also have regular advert in different youth oriented magazines. other promotional propose is to telecast our advertisements in different area based local cable channels. This is also a useful tool to inform people in economic way. Word of mouth is the one area we really hope to see develop, as a personal warranty by a customer is worth(predicate) more to us than what any advertisement can achieve. Distribution We will follow the following strategies 1. Direct purchases from manufacturers generally the trump out price, but higher minimum orders. 2.Purchases from national distributors large selections, good prices. 3. Purchases from regional distributors small selection, average pricing. Management team We believe an efficient management team can increase the productivity of company. And a fatty workforce can be an plus for a company and it can provide the company with a competit ive advantage over the major players of the industry. We have started this business on the basis of partnership rules and regulation. There are seven partners and we all are the students of North South University.We know each other for a long period of time and we believe with our co in effect(predicate) effort we can make this company a very successful one. As we all are partners of the company and have contributed equally to the initial investment so all of us will be included in the decision reservation execute. But for instant decision making we have prepared an organ gram. chairwoman M. Riaz Mahmud CFO M. Nahian Morshed display panel of Directors M.Faizur Rahman Board of Directors Mustafa Waki Chodhury Board of Directors Mohona Khan Board of Directors M. Shahriar Firoz Board of Directors Rizon Minhazur Rahman We are hiring 5 sales executives, who will run our store. Our requirement is H. S. C. passed, fluent in side and have basic computer literacy knowledge.We will hire persons who are with good social skill and can convince the customers easily to buy instrument and behave well with the customer so that they remain loyal and happy with our service. Delivering Process Our business is an import oriented business. So, well have to wholly depend on shipping for the delivery process and also container trucks will also be involved to deliver the instruments as the port is situated in Chittagong and well have to transport the items to Dhaka. Customers will have the responsibility to transport their bought product to their favored destination.For payment to the heighten company we will follow the letter Of Credit (LC) system. In this system, we will get affiliated with an international rely which have subsidiary in Bangladesh. The international bank will have to be selected as the parent company might have trust issues and the international renowned bank will help us gain reliability. As soon as we give birth the products, we will issue an LC. As our elect company ESP is an established brand worldwide, they will take responsibility for the shipments. We had to get a license of ESP to get their permission of selling their product.The licensing took a great toll of our investment as we had to pay BDT. to ESP. According to the license, we need to achieve some requirements which are their benchmarks. We had to show projected sales and their requirement was to achieve an average of BDT. 50 lakh mark yearly deep down 5 years. We had to show them our work on chemical equilibrium sheet, income rumor and break even analysis as they were looking into our business feasibility. Also they checked the location of the store to find out if enough demand will be generated from the place factor of four Ps. We reached an agreement that we will to train our servicing employees according to their readying methods to create the same environment and to succeed with their customer service. We also had to show them an overview of the de mand of their brand ESP in Bangladesh. mo canary Projections Income Statement Our income statement is initiated with finding out the sales of first month and it is utterly based on our surveys. We first ready out the ingrained market take to be in terms of BDT. We went through our surveys and found out the competitors yearly sales and the summation represents the presumable market size.As we are in the initiation stage we are assuming to get a hold of no more than cardinal per centum (3%) of the market size. We did a sales forecast for every month. For starters, we assumed a growth rate of 0. 5 percent for the first three months which gradually increased to 1 percent and later we ended the first year with a growth rate of 2% in the last three months. The increasing growth rate will be as a resultant of our extensive marketing policies. The first years growth rate being only 12. 65% percent, we had to incur losses in every month. The econd year, the yearly growth rate we ha ve assumed will be 12. 68% owing to the steady growth rate every month. And ternary year we expect a growth rate of 16% approximately. For our cost of goods sold, we presumed cardinal percent (40%) of our sales and we counted our sales discount to be 2. 5%. Another swaging cost is sales commission of one percent (1%) of sales which is categorized as selling expenses. Fixed costs include both selling and administrative expenses. Selling expenses include store salaries of BDT. 20,000 per month, rent of BDT. 50,000 per month, advertising expenses of BDT. 5,000 per month, utility of BDT. 5,000 per month and depreciation expenses of BDT. 250 per month. The administrative fixed costs consist of salaries which is monthly BDT. 10,000, utility monthly 2,000, insurance monthly BDT. 2,000 and depreciation expenses of BDT. 200 per month. We expect to reach the break even in 6. 62 years and we have shown income statements for 10 years just for getting an idea of the dough income in followin g years. Sensitivity We have shown predisposition analysis changing the sales revenue by five percent in both directions.For wipe up object lesson scenario with 5% downfall in sales, our lettuce loss in first year will inception by more than BDT. 70,000. In the most probably chance, we also incur a loss of BDT. 105,000 approximately and shell trip scenarios with 5% sales increment, crystalise profit will be almost BDT. 33,000. For 2nd year, most plausibly case scenario will produce a profit of BDT. 342,566 and worst case scenario will produce profit of BDT. 155,858. But, the surpass case scenario will generate less net income than most likely case because of tax rules. The 3rd year most likely case will see us earn a net income of BDT. 04,398. We have also assumed the worst case and best cases and if that happens we will have net income of BDT 508,314 and BDT 700,483 respectively. hard currency-Flow Statement Cash flow statement is the way of constructing the capital i nflows and outflows according to type of activities such as operating(a), investment and financing activities. It gives us the idea about if the company will be profitable over the years by generating sufficient money and if it will be able to pay off its debt. We have done change flow statements for 8 years and those will be included in the appendices.For our cash flows, we followed direct method starting with the operating activities which includes inflow from sales revenue and outflows from different expenses like cash paid to suppliers, salaries expenses, rent expenses, sales commission, advertising expenses etc. in investing activities, outflows includes BDT. 10,000,000 of purchasing of assets, other investment of BDT. 1,000,000 and purchasing of contract of rent BDT. 1,000,000 and there are no inflows. Financing activities has inflows form loan and owners investment worth BDT. 8,000,000 and BDT. 7,000,000 respectively.Cash outflows from financing includes loan payment of BD T. 171,438 per month. The payment of installment continues till year 7 when we paid off our debt. Our thorough cash flow will be negative till year 4, first take in and since then its originate. But we maintain a cash offset from the beginning generated from loan which will see us through these periods. From first year, our cash balance is minify to BDT. 2,004,607 from BDT. 2,910,411 which is the starting balance of the first month. snatch year it is reduce to BDT. 1,398,301 and by the end of year three the cash balance will be BDT. 20,853. Sensitivity The sensitivity analysis of every year link up to appendices will show how much the expected cash flows can differ when we consider worst possible and best possible cases. The first years best case is likely to reduce the outflows by about BDT. 120,000 but the worst scenario will increase outflows by about BDT. 117,000. the second and third years sensitivity analysis shows the same effect reducing or increasing the cash outflo ws in best and worst cases respectively. Balance Sheet Our balance sheet shows how much the venture capitalistic can depend on our business.In the balance sheet we tried and true to figure out the summation asset each year as the first intent of a business is to maximise the value of its assets. We also showed if the assets matched the liabilities. Our total assets included cash, inventories, receivables, other current assets categorized as current assets and long term assets consists of non current assets, store depreciation etc. Current liabilities are payables, short term debt and others spell non current liabilities are long term debt and others and these twain makes up the liabilities part. Equity has only coarse equity invested by the owners.For most of these items, we tried to maintain a specific plowshare of sales such as for inventories, we maintained 20. 69% of sales, 40. 14% of sales as short term debt etc because we know these items are vulnerable to the change of sales and give out in the same direction. Our first years total assets are BDT. 17,350,008 while the next two years it went down to BDT. 16,912,962 and BDT. 16,623,039. This can be associated with the increment in negative cash flows or increase in outflows. But its develop from then as we expect it to rise as high as BDT. 5,481,609 in eight years. A significant change occurs in year seven as we reach break even our total assets rises from about 20 million to above 24. 5 million. This is because of the rise in cash balance that year after recuperating the total investment. Sensitivity By changing the sales by 5% positively and negatively, we found out the best and worst case scenarios which can contribute to the change of our total assets. Again, as we are looking to maximize the value of our assets, we have to be conscious about what the best and worst situations can do to our business.For the first two years, the worst case scenario doesnt do much damage as the reductions in total assets are by about BDT. 50,000 from the most likely scenarios BDT. 17,292,408 in first year and BDT. 16,846,620 in second year. While the best case scenarios in the first two years see our total assets to rise to BDT. 17,407,482 and BDT. 16,979,158. The third year the change about BDT. 75,000 in both cases as the best case scenario puts our total assets to BDT. 16,698,871 and the worst case to BDT. 16,547,041. For al these time, the increases and decreases in total assets are backed by the retained dough portion of owners equity.Breakeven founder Back initial Investment -15,000,000. 00 division 1 1,061,866. 91 -13,938,133. 09 Year 2 1,450,954. 8 -12,487,178. 20 Year 3 1,739,046. 20 -10,748,132. 00 Year 4 2,119,043. 11 -8,629,088. 89 Year 5 2,667,444. 37 -5,961,644. 52 Year 6 3,328,314. 32 -2,633,330. 20 Year 7 4,203,767. 76 ,570,437. 55 Year 8 4,366,613. 47 5,937,051. 02 11,517. 17 228. 6438216 0. 26421429 P ay back in years 6. 626421429 Exit Strategy Our current business is Musical instrument dealership. Our surpass strategy is a mixture of colony and our own strategy. First we will make up some percentage of our assets. We are cooking to sell those underperforming assets at a lower price and we will also invest some additional capital to establish a diversified service line.This will be actually a preserve studio as we are planning to seize the opportunity created by pretermit of record studio in Bangladesh. We are planning to open a recording studio which will contribute to the uprising music scenario in Bangladesh. Due to lack of quality music studios, we believe our slip by plan from musical instrument dealership to recording studio will shift our position from decay to a growing stage in company life cycle. It will be our long term plan because we do not want to loose the face value of the product. Initial Investment Rent (4 months)= Tk. 200,000 Equipments (Estimated Av erage per unit) Electric Guitar(5*30,000) 150,000 Bass Guitar(5*30,000) 150,000 Acoustic Guitar(20*3000) 60,000 Piano(2*100,000) 200,000 Keyboard(10*20,000) 200,000 Drums(5*30,000) 150,000 Mixer(3*50,000) 150,000 Microphone(5*10,000) 50,000 Processor(5*20,000) 100,000 Accessories(Strings, Cables, Tuners etc) 90,0000 Other Equipments 100,000 Total 1,400,000 Estimated Initial Marketing Cost=300,000 piece of furniture=100,000 Reserve For Cash Requirements=3,000,000 Dealership Cost=10,000,000 Total Initial Investment=15,000,000 shoemakers lastWe have worked on this business plan for the last three months and gathered all the related information about the music industry. After analyzing all the data we have came up with the idea investing in this business can be really challenging but profitable. If we can survive through the initial trouble we can diversify our business by investing in different regions of Bangladesh. In the era of communication people are ve ry fond of the creative ideas and we believe our business is creative and unique enough to attract the potential customers. Reference www. google. com www. yahoo. com acct. tamu. edu/smith/acctwebs. htm Haque, Akkas & Ashif (2008) lead taxes of Bangladesh