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Introduction

Heritage Day Spa is a new healthy living day spa located in University
Malaysia Kelantan. Primarily a day spa, we offer professionally administered
spa treatments and services.
We will provide treatment rooms that are enriched with the highest quality spa
treatment tables and artistic equipment available. We have specialists who
are well-trained in different styles of massage. The Heritage Day Spa is a true
sanctuary where you can enjoy the natural environment, while rejuvenate your
body and soul with the sensual healing touch of aromatherapy massages. It
creates a unique treatment concept that blends traditional cultural therapies
with a balanced philosophy of health and well-being. We will offer a complete
wellness package with all the essential services to support the health and
relaxation of our client.

1 | Page

Business Background
Heritage Day Spa brings the meaning of something that is passed down from
preceding generations; a tradition. We hope that the Heritage Day Spa can
pass down to next generation with good reputation. Heritage Day Spa
currently is located inside City Campus, University Malaysia Kelantan,
Pengkalan Chepa, 16100 Kota Bharu, Kelantan.
Heritage Day Spa is organized by 4 members and 1 massage therapist. Our
purpose is to fulfil the wants of the customers through offer the best service of
massage therapy.
This business plan will highlight the progress from spa launch day and follow
up with forecast for the next three years. Our primary goal is to secure the
funding necessary to launch this exceptional concept spa.
Target clientele includes women and men in the age group of 20 - 65, middle
class person, include lecturer and student. They are appreciative and quite
loyal for visit spa treatment. They want to release their stress and feel their
best. They are able to afford most anything, want the best available, and are
willing to pay with reasonable price.
Our competitive edge lies in the fact that we offer a whole body educational
approach to beauty, health and wellness. We are the only spa in the area to
approach beauty through healthy living, "Wellness Is Our Thrust!"
Our location is an advantage as we are located in the University with the
multi-flow of population. The income level of customer also come from
different level so we can target few range of customer and provide different
type of package. Our long term goal is to expand the line of treatments and
services we offer to align with the industry trend of transforming the day spa
into a holistic retreat for the mind and soul.

2 | Page

Background of Partnership
Name

Danny Ong Xiang Zheng

Academic Qualification

Ph.D (Management)

Experience

Previous Spa Director of Asia Spa

Position in Spa

Spa Director

Name

Chung Wei Yi

Academic Qualification

B.E (Health Entrepreneurship) Hons.

Experience

Previous Spa Assistant Manager of


The Banjaran Hotsprings Retreat

Position in Spa

Spa Supervisor

Name

Chong Kar Yoong

Academic Qualification

B.E (Health Entrepreneurship) Hons.

Experience

Previous Spa Massage Therapist of


Cyberview Lodge Resort & Spa

Position in Spa

Spa Assistant Supervisor


(Financing)

Name

Azrawanti Binti Jamil

Academic Qualification

B.E (Health Entrepreneurship) Hons.

Experience

Previous Spa Massage Therapist of


Tanjong Jara Resort

Position in Spa

Spa Assistant Supervisor


(Marketing)

Name

Rihana

Academic Qualification

Diploma in Spa Aesthetics Therapy


in Beaubelle Aesthetics Academy

Experience

Previous Trainee in The Spa Village


at the Ritz-Carlton KL

Position in Spa

Spa Therapist

3 | Page

Administration Plan

Objectives
The objectives for Heritage Day Spa are:

Continually increasing sales revenue.


Net profit by end of second year.
Have a client retention rate of 85% by end of first year.
Establish ourselves as a community destination.

Vision
Heritage Day Spa is a place where minds, bodies, and spirits are relief, where
customer well-being is our first priority and our reputation for the highestquality professional spa services assures customer get the best treatment
experience.

Mission
Our Roadmap starts with our mission, which is enduring

Our Keys to Success

Professional staff with advanced training in several healing modalities.


Establishment of a reputation for attending to the individual needs of
each customer, every visit.
Comfortable environment with natural theme decoration.
Launch effective and directly public relations with word of mouth
campaigns.

Location of the Heritage Day Spa

4 | Page

Organisation Chart
Spa Director
Danny Ong Xiang Zheng

Spa Supervisor
Chung Wei Yi

Spa Assistant Supervisor

Spa Assistant Supervisor

(Finance)

(Marketing)

Chong Kar Yoong

Azrawanti Binti Jamil

Massage Therapist
Rihana

5 | Page

Task and Duties of Organization


Spa Director
The Spa Director, Danny Ong is in charge to plan and monitor the strategic
progress of the business and arrange organization chart to present the
position of the organization partners. Besides that he has to assign tasks and
duties to the all member of organization. Danny will be more concern on the
overall performance of the spa and these task will be assist by other
partnership holder.

Spa Supervisor
The Spa Supervisor, Chung Wei Yi responsible to understanding all sales
departments' financial data as well as strong customer relations skills. Their
duty is to finding customer to consume our spa services. Furthermore, she
needs to attend to the customer complaints, ensuring that a high level of
customer satisfaction is obtained.

Financial Manager
The Financial Manager, Chong Kar Yoong need to determine the total project
costs that needed, choice of sources of financing and preparation of financial
projection in terms of statements, which include cash flow, income statement
and balance sheet. For instance, Financial Manager also needs to list out the
capital, expense and total revenue and expected the net profit that will gain
from the services.

Marketing Manager
The Marketing Manager, Azrawanti Binti Jamil need to fulfil the needs and
wants of the UMKs students by providing good quality of products or services
to them. Azrawanti need to formulate, direct and coordinate marketing
activities and policies to promote spa services, Hence she needs to identify
the market target, sales strategic, and promotion strategic before starting the
spa business.

Massage Therapist
The Massage Therapist, Rihana need to treat customer by using touch to
manipulate the soft-tissue muscles of the body. With the touch, therapists
relieve pain, help rehabilitate injuries, improve circulation, relieve stress,
increase relaxation, and aid in the general wellness of clients.

6 | Page

Schedule of Remuneration
Position

Number

Monthly
Salary (RM)

SOCSO
(RM)

Total (RM)

2500.00

EPF
(13%)
(RM)
325.00

General
Manager
Human
Resource
Manager
Finance
Manager
Operation
Manager
Staff
Total

44.65

2869.65

2000.00

260.00

35.85

2295.85

2000.00

260.00

35.85

2295.85

2000.00

260.00

35.85

2295.85

1000.00

130.00

18.35

1148.35
10905.55

Supplier of Product
Name
Tanamera Tropical Spa

Contact Number
+603 7842 2458

Suppliers of Equipment
Name
Cemara Ayu
Sauna Holm Sdn. Bhd

Contact Number
+603 6201 5446
+603 6273 1689

7 | Page

Office Layout Plan

Administration Budget
Description

Cost (RM)

Rental

Legal Services

6500

Salary

10,905.55

Construction/Design

60,000

Insurance

1,800

Accounting Services

950
Total

80,155.55

8 | Page

Marketing Plan
Services Provided
The Heritage Day Spa will provide a rejuvenating atmosphere where
customers will be able to relax both their body and mind, reconnecting with
their true purpose through a wide range of holistic healing methods including
massage, body treatments and foot massage.
Our unique massage service is the Signature Stress Relief. Stress can create
and/or exacerbate many physical and emotional conditions such as chronic
fatigue, digestive upset, headaches, back pain, high blood pressure and risk
of stroke. By the stress relief massage that we provided, customer can get
relaxation of muscles, an increase in circulation and a reduction in stress
related pain. Once the stress level is reduced, customer can reclaim the
energy once enjoyed, and experience a refreshed body and mind.
By using the Herbal Oil with Signature Stress Relief can get more effective
result. Herbal Oil is wonderful to be used for massage. The natural warming
effect from the herbs penetrates the skin to relax stressed muscles.
With well trained and experienced therapists at The Heritage Day Spa, we
take pride in ensuring each individual needs are met. Our guests are free to
choose their desired treatments from our service menu and we will ensure
you a great experience with The Heritage Day Spa.

9 | Page

Product Provided
i.

Herbal Massage Oil (100ml)


Specially concocted massage oil that is painstakingly boiled with herbs
that contain these properties: antibacterial, warming, stimulating blood,
anti-inflammatory, astringent, natural antibiotic, and antiseptic,
antispasmodic, antifungal.

ii.

Green Coffee Detox Massage Oil (100ml)


Firms, lifts and tone skin with the help of Tanameras Green Coffee
massage oil. Infused with green coffee extract and detoxifying essential
oils, Tanameras Green Coffee massage oil provides the perfect
supplement for cellulite control massage. GREEN COFFEE EXTRACT
(COFFEA ARABICA) is invigorating and rich in antioxidants.

iii.

Brown Formulation Body Soap (125g)


Made with palm kernel oil, rice, glutinous rice, Wild Ginger, Vegetable
glycerin, Turmeric, Patchouli oil, Cinnamon and Vetiver. These herbs
are well known for its Anti-inflammatory, anti-bacterial, skin toning and
are able to help with minor rashes and itchiness.

iv.

White Formulation Body Soap (100g)


Made with Palm kernel oil, Rice milk, Standardized cocoa extract,
Vegetable glycerin. All these extracts are wonderfully combined to help
with moisturizing and softening of the skin. Specially created for dry
and dehydrated skin and suitable for children.

v.

Tropical Coffee Body Scrub (156g)


Coffee have amazing anti-aging, astringent, deodorizing properties and
is also an excellent natural stimulator that will help to improve blood
and lymph circulation, release toxins and break up the fatty deposits
that cause cellulite.

vi.

Organic Brown Sugar Scrub Jar (350g)


Infused with Ylang Ylang oil, Grape seed oil, Sunflower oil, Jojoba oil,
Wheat germ oil, Virgin Coconut Oil, this luxurious formulation will help
to smoothen, soften, moisturize and fragrance the skin. Its natural
goodness will give a soothing effect on skin including anti-aging, antiseptic and anti-inflammatory properties.

vii.

Kaffir Lime Tea (40g)


Calming and refreshing, this plant is also rich in essential oils and
immediately refreshes and reenergizes the body upon consumption.

viii.

Lemongrass with Ginger Tea (40g)


Help soothes and calm the digestive system with its light lemony taste
and a hint of ginger to lift up your sagging spirit. The properties of
ginger are well known while lemongrass is also known for its antibacterial and anti-fungal properties.

10 | P a g e

Service Menu
Description

Price

Green Coffee Detox Body Treatment ( 1 Hours)

RM 45

Due to its caffeine content, green coffee extract exhibits toning and
stimulating properties, and refreshes and renews the skin. It will improve
skin texture and help eliminate toxic waste from our body

Signature Stress Relief with Herbal Oil ( 1 Hours)

RM 40

An integration of soothing services. Herbal massage oil that is rich in


vitamin E and A. Regular use helps maintain smooth and supple skin
tone.

Organic Brown Sugar Body Scrub with basic massage (1 Hours)

RM 55

Its natural goodness will give a soothing effect on skin including antiaging, anti-septic and anti-inflammatory properties.

Tropical Coffee Body Scrub with basic massage ( 1 Hours)

RM 55

Loaded with anti-aging properties, Coffee acts as a natural exfoliate,


cleanser, astringent and deodorant and helps soothe sunburned skin.

Foot Massage ( 15 Minutes)

RM 15

Foot Massage ( 30 Minutes)

RM 25

Applying massage at pressure points and energy meridians throughout


the body to rebalance the body and target relief for certain symptoms

Infrared Sauna Treatment

RM 15

It penetrates the skin on a deeper level and improved detoxification


properties.

Swiss Shower
Uses 9 or more high-powered spray jets positioned in each corner of
shower to surround the body

RM 5

Package

Price

Green Coffee Detox Body Treatment + Body Scrub


RM 90
Signature Stress Relief with Herbal Oil + Body Scrub
RM 85
*Expense above RM80 can enjoy Swiss Shower or Infrared Sauna Treatment

Product Menu
Product
Herbal Massage Oil
Green Coffee Detox Massage Oil
Organic Brown Sugar Scrub Jar
Tropical Coffee Body Scrub
Brown Formulation Body Soap
White Formulation Body Soap
Kaffir Lime Tea
Lemongrass with Ginger Tea

Unit Price (RM)


30
48
68
50
15
15
29.50
29.50

11 | P a g e

Target Market
Target customer who are women and men in the age group of 20 - 65, middle
class person, include lecturer, staff UMK, student and outsider. They are
appreciative and quite loyal for visit spa treatment.
Customer who have the stable income to indulge in massage and body
treatments for self-pampering or relaxation are the core of our long-term
repeat customers. They want to release their stress and feel their best. They
are able to afford most anything, want the best available, and are willing to
pay with reasonable price.
Our backbone of our business is the student in University Malaysia Kelantan.
Nowadays, the power of expense of teenager is higher than other categories.
They are a very loyal group, and will readily give word-of-mouth
recommendations, especially if they see massage as having given them a
specific boost to their performance.
Based on the statistic of population in Kelantan 2010, we found that there are
around 4000 of people in Pengkalan Chepa area, so we target 200 of people
will be our target customer.

12 | P a g e

Market Size

Actual Population

140 50

2500
4000

Residents in Pengkalan Chepa

UMK Students

UMK Lecturers

UMK Staf

Potential Customer

30 10
200
250

Resident in Pengkalan Chepa

UMK Students

UMK Lecturers

UMK Staf

Competition

13 | P a g e

Customers choose spa services based on proximity to their daily commute,


quality and an exceptional experience. With our combined services, we
expect to dominate the Day Spa market.
The closest competitor is the DRM Spa & Beauty which that offers spa
services and beauty care service. Heritage Spa is more outstanding from
DRM Spa & Beauty based on the professional service that we provide. We
have imported spa equipment such as Swiss Shower and Infrared Sauna to
make sure our customer can get a better service. Other than that, Heritage
Spa also provide the Fish Spa therapy that DRM Spa & Beauty didnt have
provide. The Renaissance Kota Bharu Hotel also offers massage treatments
and the spa centre is well-known. However, our target customer is difference.
Our competitive edge is combining of our unique services, outstanding
location and our interaction with customers. By providing our customers a
holistic and integrative spa service, we build relationships of trust and
satisfaction. Our customers will come to depend on our unique services and
fulfilling environment.

14 | P a g e

Sales Forecast
Our sales target to fulfil customers wants as well as bring profits. We should
identify and focus on our effort upon selected group of customers. Our target
customers are UMK students, lecturers and others. We make sales target in
order to limit resources in term of time, money and manpower. These are our
sales forecast.
Service

Green Coffee Detox


Body Treatment
Signature Stress Relief
with Herbal Oil
Organic Brown Sugar
Body Scrub with basic
massage
Tropical Coffee Body
Scrub with basic
massage
Head Massage (30 min)
Foot Massage (15 min)
Foot Massage (30 min)
Infrared Sauna
Treatment
Swiss Shower
Total Sales

Product

Unit
Price
(RM)
45

First
Month
(RM)
2790

Second
Month (RM)

Third
Month (RM)

4050

5520

40

2480

3600

4800

55

3410

4950

6600

55

3410

4950

6600

25
15
25
15

1550
930
1550
900

2250
1350
2250
1350

3000
1800
3000
1800

1500
18,520

1650
26,400

1800
34,920

Unit
Price

First
Month

Second
Month (RM)

Third
Month (RM)
15 | P a g e

Herbal Massage Oil


Green Coffee Detox
Massage Oil
Organic Brown Sugar
Scrub Jar
Tropical Coffee Body
Scrub
Brown Formulation
Body Soap
White Formulation Body
Soap
Kaffir Lime Tea
Lemongrass with Ginger
Tea
Total

(RM)
(RM)
40 2000
60 3000

2400
3600

2800
4800

65 3250

3900

4550

65 3250

3900

4550

25 1250

1500

1750

25 1250

1500

1750

35 1750
35 1750

2100
2100

2450
2450

21,000

25,100

17,500

16 | P a g e

Marketing Strategy
i.

Product

We are using Tanamera Tropical Spa Product in our spa treatment. The range
of products as each one is carefully made from raw materials sourced from
rich and luscious tropical rainforests. This product range is created based on
Asian tropical spa treatments and is conveniently packaged to be used at
home, while travelling, or for use in professional spas.

ii.

Pricing

We are using competitive pricing scheme. Setting the price of a product or


service based on what the competition is charging. We are using this type of
pricing strategy is generally used once a price for a product or service has
reached a level of equilibrium, which often occurs when a product has been
on the market for a long time and there are many substitutes and competition
on spa service.

iii.

Place

Our location is an advantage as we are located in the University with the


multi-flow of population and our Heritage Spa is easy to reach.

iv.

Promotion
Online Website
The website will have a full menu of services and eventually have the
ability to schedule appointments on-line. The spa software we are
using will allow a user to see the schedule and make appointment
without making a phone call.
Advertising & Seasonal Promotions
UMK kiosk, local fliers, grand opening party kick-off and promotion for
first 30 days. Continue regular advertising and plan for special events
like Christmas, Chinese New Year and Hari Raya.
Loyalty Membership
Member card holder can enjoy 50% off offer during the birthday month
for Body Treatment Massage and get one free juice drink.
Voucher
1 month package is available in voucher style and customer can get
cheaper than normal
Birthday Promotion for Membership holder
With Heritage Spas membership holder can enjoy extra discount for
certain package and product.

17 | P a g e

Marketing Budget
Items

Unit Price

September

October

Design a website
Banner
Flier
Voucher
Business Card
Total

RM 800
RM 200
RM 0.20
RM 0.05
RM 50

RM 800
RM 200
RM 100
RM 10
RM 100
RM 1200

RM 200
RM 50
RM 10
RM 100
RM 360

Novembe
r
RM 200
RM 50
RM 10
RM 100
RM 360

18 | P a g e

Operations Plan
Process Flow Chart
Check in The Heritage Day
Spa
Get recomendation &
advice from proffesional
therapist

Changing provided clothes

Enter provided treatment


room

Enjoy the treatment

Shower room

Leisure area

Payment

Check out

19 | P a g e

Capacity Planning

Operati
on
Hours

10am - 5pm
7pm - 10pm

Operati
on Days

Sunday - Friday
(Lady)
Saturday
(Gentleman)

Heritage Spa will operate all the day in two session time, 10am 5pm and
7pm 10pm. We will serve lady on Sunday to Friday and gentleman will be
on Saturday. We found that lady wish to spend on spa to relax their stress and
get beauty, however, nowadays gentleman is more and more concern on their
beauty too. Therefore, our spa will operate one full day for gentleman.

20 | P a g e

Product Requirement Planning


Item

Unit Price (RM)

Price (RM)

30
48

Amount
Require
100
100

Herbal Massage Oil


Green Coffee Detox
Massage Oil
Organic Brown Sugar
Scrub Jar
Tropical Coffee Body
Scrub
Brown Formulation
Body Soap
White Formulation
Body Soap
Kaffir Lime Tea
Lemongrass with
Ginger Tea
Total

68

100

6800

50

100

5000

15

100

1500

15

100

1500

25
25

100
100

2500
2500

3000
4800

27,600

Manpower planning
Effective manpower planning to ensure low overhead cost. Since all of the
partnership holder are graduate from University Malaysia Kelantan with
Bachelor of Entrepreneurship (Health Entrepreneurship). All of us are familiar
with spa service treatment and have knowledge on it. Therefore, we no need
to employ many of massage therapist on our spa centre to low down the
operation cost. We only recruit one part time massage therapist with welleducated and full of experience with spa massage who is Rihana.
Name
Danny Ong Xiang Zheng
Chong Kar Yoong
Chung Wei Yi
Azrah
Rihana

Working Shift
Full time
Full time
Full time
Full time
Part time ( night shift )

21 | P a g e

Machinery and Equipment Planning


Item

Price/ Unit
(RM)
15,000
10,000
3500
2500
150
400
100
600
2000
250
2000
400
250
800
1800

Swiss Shower
Sauna
Massage Table
Massage Sofa
Shelf (26x21x29)
Shelf (44x20x72)
Shelf (15x14x32)
Shelf (62x17x79)
Washing Machine
Water Heater
Computer
Office Table
Office Chair
Speaker System
Circular Tub
Total

Quantity
1
1
3
2
3
1
2
1
1
2
1
2
3
1
1

Total Cost (RM)


15,000
10,000
10500
5000
450
400
200
600
2000
500
2000
800
750
800
1800
50,800

Operations budget
Type

Fixed Asset
Monthly
Yearly
Cost (RM)
Expenses (RM)
Expenses (RM)
Operational Equipment
50,800
Raw Material
19,600.00
Salary (EPF & SOCSO)
10905.55
License/Permit
4000
Total
50,800
30,505.55
4000

22 | P a g e

Financial Plan
The premier element to our financial plan is initiating, maintaining, and
improving the factors that create, stabilize and increase our cash flow.
Because of the commission structure of our contractor payments, our variable
costs will exceed fixed costs for all years of this plan, which should help
stabilize the cash flow - we only pay commission when we make a sale. By
quickly repaying our loan while increasing sales, and managing costs, we will
increase the net worth of the business substantially in the first year, and
continue increasing it for the foreseeable future.

Source of financing
Financing is needed to start a business and ramp it up to protability. There
are several sources to consider when looking for start-up nancing. The
nancial needs of a business will vary according to the type and size of the
business. Heritage Spa is a partnership business which own by four owners.
Each of the owners will be investing RM20, 000 to the Heritage Spa. So the
total amount of money invest by owners are RM80, 000. Other than that, the
other source of financing for Heritage Spa is Maybanks Fund for Small &
Medium Sized Industries 2 (FSMI 2) since Heritage Spa is a small and
medium sized business. FSMI 2 is fund that assist SMEs and SMIs in export
and domestic oriented sectors. Hence, Heritage Spa has two sources of
financing which are from the owners and Maybank.

Maybanks Fund for Small & Medium Sized Industries 2


Loan Amount

RM50,000 (min) - RM3 million (max)

Repayment Period

Maximum 3 years from the date of


first drawdown
5.0% p.a.

Interest Rate

23 | P a g e

Loan Amortization Schedule


Loan Amount
Loan Period
Interest Rate
Monthly Pay
Total of 36 loan payment

RM 1,500,000
3 years
5%
RM 44,956.35
RM 1,618,428.44

Total Interest

RM 118,428.44

The table above shows the amount loan from Maybank. The loan amount is
RM 1,500,000. The loan period is 3 years with an interest rate of 5%. Based
on the loan, the monthly loan payment is RM 44956.35. The total loan
payment is RM 1,618,428.44 and the total interest is RM 118,428.44.
Table below shows the monthly amortization schedule for the loan.
Month

Beginning Balance

Interest

Principal

Ending Balance

RM 1,500,000.00

RM 6,250.00

RM 38,706.35

RM 1,461,293.65

RM 1,461,293.65

RM 6,088.72

RM 38,867.63

RM 1,422,426.03

RM 1,422,426.03

RM 5,926.78

RM 39,029.57

RM 1,383,396.46

RM 1,383,396.46

RM 5,764.15

RM 39,192.20

RM 1,344,204.27

RM 1,344,204.27

RM 5,600.85

RM 39,355.50

RM 1,304,848.77

RM 1,304,848.77

RM 5,436.87

RM 39,519.48

RM 1,265,329.30

RM 1,265,329.30

RM 5,272.21

RM 39,684.14

RM 1,225,645.16

RM 1,225,645.16

RM 5,106.85

RM 39,849.50

RM 1,185,795.67

RM 1,185,795.67

RM 4,940.82

RM 40,015.53

RM 1,145,780.14

10

RM 1,145,780.14

RM 4,774.08

RM 40,182.27

RM 1,105,597.87

11

RM 1,105,597.87

RM 4,606.66

RM 40,349.69

RM 1,065,248.19

12

RM 1,065,248.19

RM 4,438.53

RM 40,517.82

RM 1,024,730.38

13

RM 1,024,730.38

RM 4,269.71

RM 40,686.64

RM 984,043.74

14

RM 984,043.74

RM 4,100.18

RM 40,856.17

RM 943,187.58

15

RM 943,187.58

RM 3,929.95

RM 41,026.40

RM 902,161.18

16

RM 902,161.18

RM 3,759.00

RM 41,197.35

RM 860,963.84

17

RM 860,963.84

RM 3,587.35

RM 41,369.00

RM 819,594.84

18

RM 819,594.84

RM 3,414.98

RM 41,541.37

RM 778,053.47

19

RM 778,053.47

RM 3,241.89

RM 41,714.46

RM 736,339.02

20

RM 736,339.02

RM 3,068.08

RM 41,888.27

RM 694,450.75

21

RM 694,450.75

RM 2,893.54

RM 42,062.81

RM 652,387.95

22

RM 652,387.95

RM 2,718.28

RM 42,238.07

RM 610,149.89

23

RM 610,149.89

RM 2,542.29

RM 42,414.06

RM 567,735.83

24

RM 567,735.83

RM 2,365.57

RM 42,590.78

RM 525,145.05

Year 1 end

Year 2 end
25

RM 525,145.05

RM 2,188.10

RM 42,768.25

RM 482,376.81

24 | P a g e

26

RM 482,376.81

RM 2,009.90

RM 42,946.45

RM 439,430.37

27

RM 439,430.37

RM 1,830.96

RM 43,125.39

RM 396,304.98

28

RM 396,304.98

RM 1,651.27

RM 43,305.08

RM 352,999.91

29

RM 352,999.91

RM 1,470.83

RM 43,485.52

RM 309,514.40

30

RM 309,514.40

RM 1,289.64

RM 43,666.71

RM 265,847.69

31

RM 265,847.69

RM 1,107.70

RM 43,848.65

RM 221,999.05

32

RM 221,999.05

RM 925.00

RM 44,031.35

RM 177,967.70

33

RM 177,967.70

RM 741.53

RM 44,214.82

RM 133,752.88

34

RM 133,752.88

RM 557.30

RM 44,399.05

RM 89,353.84

35

RM 89,353.84

RM 372.31

RM 44,584.04

RM 44,769.80

36

$44,769.80

$186.54

$44,769.81

$0.00

Year 3 end

The table below shows the annual amortization schedule


Year

Beginning Balance

Interest

Principal

Ending Balance

RM 1,500,000.00

RM 64,206.52

RM 475,269.68

RM 1,024,730.38

RM 1,024,730.38

RM 39,890.82

RM 499,585.38

RM 525,145.05

RM 525,145.05

RM 14,331.08

RM 525,145.12

RM 0.00

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Start Up Financial Data


Description

Cost (RM)

Start Up Expenses
Legal Services

6,500

Printing, Collateral

2,500

Construction/Design

60,000

Insurance

1,800

Research and Development

3,000

Advertising

1,500

Accounting Services

950

Linens

1,500

Total Start-up Expenses

77,750

Start-up Assets
Cash Required

20,000

Start-up Inventory

5,000

Other Current Assets

50,800

Total Assets

72,300

Total Requirements

150,050

Start-up Funding
Start-up Expenses to Fund

77,750

Start-up Assets to Fund

53,940

Total Funding Required

135,190

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Capital Equipment and Supply List (Other Current Assets)

Item
Swiss Shower
Sauna
Massage Table
Massage Sofa
Shelf (26x21x29)
Shelf (44x20x72)
Shelf (15x14x32)
Shelf (62x17x79)
Washing Machine
Water Heater
Computer
Office Table
Office Chair
Speaker System
Circular Tub
Total

Price/ Unit (RM)

Quantity

Total Cost (RM)

15,000
10,000
3500
2500
150
400
100
600
2000
250
2000
400
250
800
1800

1
1
3
2
3
1
2
1
1
2
1
2
3
1
1

15,000
10,000
10,500
5000
450
400
200
600
2000
500
2000
800
750
800
1800
50,800

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Start Up Balance Sheet


Description

Cost (RM)

Assets
Non-cash Assets from Start-up

5,659

Cash Requirements from Start-up

20,000

Additional Cash Raised

55,004

Cash Balance on Starting Date

80,463

Total Assets

53,940

Liabilities and Capital


i.

Liabilities

Current Borrowing

1,500,000

Long-term Liabilities

Accounts Payable (Outstanding Bills)

Other Current Liabilities (interest-free)

Total Liabilities

1,500,000

ii.

Capital

Owner Investment

80,463

Additional Investment Requirement

20,000

Total Planned Investment

100,463

Loss at Start-up (Start-up Expenses)

(80,450)

Total Capital

20,013

Total Capital and Liabilities

20,013

Total Funding

60,450

28 | P a g e

Break-even Analysis
The break-even analysis is based on the average of the first- year figures for
total sales by values, and by operating expenses. These are presented as
per- unit revenue, per- unit cost, and fixed costs. These conservative
assumptions make for a more accurate estimate of real risk.
Monthly Revenue Break-even
Assumptions: Average Percent Variable Cost
Fixed Cost

RM20, 000
15%
RM50,800

29 | P a g e

Profit and Loss Pro-Forma


A pro forma profit and loss statement, also known as a pro forma income
statement, is a projection of a business' anticipated profitability. It is a
management tool to help forecast a company's financial future by comparing
its projected income to its anticipated expenses. Expected economic
conditions, changing company business practices and the anticipated tax
environment factor into management's pro forma profit and loss projections.
Description

2016 (RM)

2017 (RM)

2018 (RM)

Gross Sales/Gross
Revenue

470,000

608,400

763,440

Direct Cost of Sales 20,000

30,000

40,000

Massage
Therapists'
Commissions

9,400

12,168

3,600

Total Cost of Sales

29,400

42,168

43,600

Gross Profit

440,600

566,232

719,840

Gross Profit %

93.74%

93.07%

94.30%

Payroll(include
SOCSO,EPF)

115,000.00

120,000.00

125,000.00

Advertising

10,000

8,000

8,000

Utilities

3,000

3,100

3,200

Insurance

1,800

1800

1800

Phone

240

240

240

WIFI

1,680

1,680

1,680

Permit

4000

4000

4000

Total Operating
Expenses

135,720

138,820

143,920

Profit Before
Interest and Taxes

334,280

469,580

619,520

EBITDA*

334,280

469,580

619,520

Interest Expense

14,000

14,000

14,000

Taxes Incurred

14,000

14,000

14,000

Net Profit

306,280

441,580

591,520

Expenses

30 | P a g e

31 | P a g e

Balance Sheet Pro-Forma


A pro forma balance sheet summarizes the projected future status of a
company after a planned transaction, based on the current financial
statements.
2016 (RM)

2017 (RM)

2018 (RM)

Cash

313,263

393,531

514,568

Accounts Receivable

11,123

11,899

11,378

Inventory

11,441

10,357

12,868

Other Current Assets

33,095

33,095

33,095

Total Current Assets

368,922

448,882

571,909

Long-Term Assets

3,000

6,000

Accumulated
Depreciation

150

200

Total Long-Term
Assets

2,850

5,800

Total Assets

368,922

451,732

577,709

Accounts Payable

80,790

47,265

49,650

Current Borrowing

22,600

17,200

7,800

Subtotal Current
Liabilities

103,390

64,465

57,450

Long-Term Liabilities

539,476.14

539,476.14

539,476.14

Total Liabilities

642,866.14

603,941.14

596926.14

Paid-in Capital

150,000

150,000

150,000

Retained Earnings

(90,450)

39,528

103,232

Earnings

119,978

103,705

161,221

Total Capital

179,528

293,233

414,453

Total Liabilities and


Capital

822,394.14

897,174.14

1,011,379.00

Net Worth

179,528

293,233

414,453

Assets

Liabilities and
Capital
Current Liabilities

1
32 | P a g e

33 | P a g e

Cash Flow Pro-Forma


A pro forma cash flow is created to predict inflow and outflow of cash to the
business. It is particularly valuable in predicting when business may
experience a cash shortage. This determine in advance whether or not need
to cover cash shortage by borrowing money, selling more stock in the
business, or taking other steps, such as cutting expenses, to improve cash
position.
2016 (RM)

2017 (RM)

2018 (RM)

Cash Sales

470,000

608,400

763,440

Cash from
Receivables

16,928

29,015

29,436

Subtotal Cash from


486,928
Operations

637415

792,876

Subtotal Cash
Received

486,928

637,415

792,876

Cash Spending

129,610

135,060

149,229

Bill Payments

97,291

97,796

98,659

Subtotal Spent on
Operations

226,910

232,856

247,888

Principal
Repayment of
Current Borrowing

6,200

6,200

6,200

Subtotal Cash
Spent

233,110

239,056

254,088

Net Cash Flow

253,818

358,359

534,788

Cash Balance

253,818

572,546

1,107,344

34 | P a g e

Gross Sales/Gross Revenue


RM900,000
RM800,000
RM700,000
RM600,000
Gross Sales/Gross
Revenue

RM500,000
RM400,000
RM300,000
RM200,000
RM100,000
RM0
2016

2017

2018

Figure 1: Chart for Gross Sales

35 | P a g e

SUMMARY / JUSTIFICATION
A business plan is produced to convince shareholders, banks to invest into
our business. The concept of the Heritage Spa business is to offer
professionally administered spa treatments and services.
The service that will be provide will be aimed to age group 20 - 65, middle
class person. In order for the business to see success and make a profit it is
important to ensure that costs are kept to a minimum. The business will focus
on provide various types of massage treatment such as body massage
treatment, head massage, foot massage, fish spa therapy and other service.
Other than that, we also sell the organic product that supply from Tanamera
Tropicana Spa Product.
Researching into this day spa service and market is important, so the
business is able to forecast its success. It is clear that, there is a market for
this service. The strategic location is also important and our Heritage Spa is
locate in University Malaysia Kelantan campus. We can enjoy the multi-flow of
population of people and easy for us to target our potential customer.
Above shows a table showing the sales between years 2016 - 2018. This
information is important so that we can able to see the changing trends over
time. We assumed that in year 2016, the net profit can get RM 306,280and
keep increasing in every following year. As the products and service will be
sold on a market, our company will see less overhead costs.
This business has no major overhead expenses. Our main expense will be
remuneration of the staff that will cost approximately RM9500 per week. As no
other major resources are required for example water, electric, our costs will
be kept to a minimum and be able to transfer bargains to our customers.
Analysing the business plan there is a big chance for success with this
business. Sales for these products and services are increasing every year.

36 | P a g e

Appendices

37 | P a g e

Customer Feedback
We are encountering some issues in receiving feedback. If you have any
comments, positive or negative, we would be grateful if you could email our
Customer Services' Team on: cs@theheritagespa.com. Thank you.
We try very hard to deliver a good service at Heritage Spa. However, we know that
there is always space for improvement so we would appreciate any feedback that
you may have regarding your visit.
How would you rate the friendliness & helpfulness of our staff?
Very Good

Good

Average

How would you rate the cleanliness of the Spa?


Very Good
Good
Average

Poor

No View

Poor

No View

How would you rate the quality of your therapist & treatment?
Very Good
Good
Average
Poor

No View

How would you rate your overall visit to Heritage Spa?


Very Good
Good
Average
Poor

No View

How was your overall visit in terms of value for money?


Very Good
Good
Average
Poor

No View

Comments / Suggestions / Complaints

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