Shat Gang Center of History and Arts

An attempt of showing Chittagong under one roof

Prepared ByKh Rezwan Faruk Id- 1110987030 BUS 251 Section: 6

Prepared ForMr. T.M. Taufique Hossain (TMT) Instructor, BUS-251 School of Business North South University

Date of SubmissionMarch 15, 2014

Letter of Transmittal

August 20, 2008 Mr. T.M. Taufique Hossain Instructor of BUS 251 BBA Dept. North South University Dear Sir, In this report I have tried to develop a business plan on any tourist spot of Bangladesh and I would like thank you with all my gratitude for giving me this opportunity. This project has helped me to experience how a business plan is developed in the real world scenario. Despite some limitations I have tried my best to address the major and in depth issues in making this report as much accurate and realistic as possible.

Should you have any further enquiry concerning any additional information I would be very pleased to clarify that for you. Thank you. Sincerely yours, Rezwan Faruk Id-111 0987 0 30 Student, Department of BBA North South University

1|Page

ACKNOWLEDGEMENT
Apart from my efforts, this report has been made possible by the dedications and contributions by a number of individuals who given me the opportunity to work and supported me in this meantime.

First of all, I would like to thank Allah for giving me the strength and wisdom to carry away all the work and helping me to go through all the obstacles while conducting the research.

Next, I would like to express my sincere gratitude to my honorable faculty Mr. T.M. Taufique Hossain. His advices and guidance has been the foundation on which this project was constructed.

Then I would like to thank all my fellow classmates who shared their ideas and knowledge with me and helped me to work throughout the working for this project.

Finally, Special thanks go to all the persons without whom this project wouldnt have seen the light of success.

2|Page

Table of Contents
Contents
ACKNOWLEDGEMENT ..................................................................................................................... 2 1. The Organizational Plan: ................................................................................................................. 4 1.1. 1.2. Products and Services: ............................................................................................................ 4 Administrative Plan: ................................................................................................................ 5 Location ........................................................................................................................... 5 Management ................................................................................................................... 5 Personnel ........................................................................................................................ 6

1.2.1. 1.2.2. 1.2.3. 2.

The Marketing Plan: ........................................................................................................................ 8 2.1. 2.2. 2.3. 2.4. 2.5. 2.6. Target Market ......................................................................................................................... 8 Competition: ........................................................................................................................... 8 Market Trends:........................................................................................................................ 8 Method of Sales and Distribution: .......................................................................................... 9 Pricing...................................................................................................................................... 9 Advertising Strategies and Public Relation ........................................................................... 11

3.

Financial Plans ............................................................................................................................... 12 3.1. Costs ...................................................................................................................................... 12 Initial Investment .......................................................................................................... 12 Fixed Cost ...................................................................................................................... 13 Variable Cost ................................................................................................................. 13

3.1.1. 3.1.2. 3.1.3. 3.2. 3.3. 4. 5. 6.

Revenue ................................................................................................................................ 13 Profit for a Year ..................................................................................................................... 14

Environmental Strategy: ............................................................................................................... 14 Conclusion ..................................................................................................................................... 15 Bibliography ..................................................................................... Error! Bookmark not defined.

3|Page

1. The Organizational Plan:

Shat Gang Center of History and Arts is a museum where the different heritage of the city of Chittagong city, one of the largest cities of Bangladesh, will be placed.

The main idea of this museum is to build a place where the city of Chittagong will be visualized under one roof. Our aim is to build up a place which will not only reflect the history and arts of this city, but also will visualize the huge life forms available in this area. The museum can be said as a Piece of Chittagong City. It will also show the visitors the history and evaluation of this city. (Wikipedia, 2012) The museum will not only signify the city of Chittagong but will also reflect a part of Bangladesh. Though the concept of museum doesnt go hand to hand with the concept of business as it will not be a charitable or non-profit organization, we are sure that if we can develop this business plan and make this a place a heritage.

1.1. Products and Services:

As this is a museum what we will be doing for business is to provide a service. The service is to store different kinds of objects, photographs, aquariums etc. in one place and let people experience them and give them a closer look to those elements of historical and biological value. There will be curator who will look after the museums different parts. There will also be some guides/sight viewer who will guide the visitors through the museums and give the visitors detailed information about the museum. There will also be an antique store where different antic items will be sold and a food stall where different local foods and drinks will be sold.

4|Page

1.2. Administrative Plan: 1.2.1.

Location

The Museum will be situated at Agrabad Commercial Area, The heart of the Chittagong city. A total of 3600 square feet structure will be rented for the whole museum. The place is well-connected throughout the city and every modern facility will be available here. There will a contact number in case for contact :+880******** There will also be an email address. E-Mail- shatgang@gmail.com Website- www.shatgangmuseum.com; en.wikipedi.org/shatgang

1.2.2.

Management

The management will consist of total 8 members. I and my three financing partners will be the owner of the organization There will also be a manager to look after the whole place 3 supervisors will supervise the whole museum. There will be a supervisor for each section and he will manage and supervise the personnel under him.

Shat Gang Center of History and Arts

My three financing partners Myself Manager

Supervisor of History and Arts Section Supervisor of Animals and Forest Sections Supervisor of Sea Life Section

5|Page

1.2.3.

Personnel

Personnel play a very important role in managing an organization. In a museum, it is quite impossible to continue the operation of a Museum without employees support. In order to manage the Museum, We will need total 30 employees. Among these employees, there will be-

5 Curators The curators will be specialized in handling all the objects and life forms of this museum Salary- Tk. 15,000 Per month 5 Sightviewer/Guide The Sightviewer/Guide person will guide the visitor and give them a closer look of the museum and also will help them to understand the thing(This service will be provided by a fees) Salary- Tk. 12,000 Per Month 10 Security Guards As a museum is a place where very valuable objects are being placed,for this reason the security guards will make sure that the palce is secure. Salary- Tk. 6,000 Per Month 8 Cleaners It is very neccesery to keep the museum clean and it will be the task of the cleaners to make the museum clean Salary-Tk. 5000 Per Month 2 Ticket Sellers There will be two ticket sellers who will sell tickets to the visitors. Salary-Tk. 5000 Per Month Total 30 Employees

6|Page

Total salary of the employees per month:

5 Curators
15,000*5 75,000

5 Sightviewers/Guides
12,000*5 60,000

10 Security Guards
6,000*10 60,000

8 Cleaners
5,000*8 40,000

2 Ticket Sellers
5,000*2 10000

Total Salary: Tk. 245,000

7|Page

2. The Marketing Plan:

2.1. Target Market Primary Target market- The target market of this museum will be based on local people/people of Bangladesh because the aim of our museum will be to let people know about Chittagong. Moreover, People from different parts of the country will be attracted towards the museum while visiting the city of Chittagong. As our ticket price will be a little bit higher than the usual museums, we have considered the middle class and upper middle class families to be our main target market. Though the ticket price is high, we are determined to give them more than what they have actually paid. Secondary Target Market- Our secondary target market will be the foreigners. We want to let the foreigners experience the city Chittagong under one roof. It is another perception of us to experience the wildlife by pictures and to enjoy the beauty of sea through30 aquariums.

2.2. Competition:
As a museum, there are many competing museum throughout the city of Chittagong. The main competitors for Shat Gang Center of History and Arts areEthnological Museum Court building museum Chittagong University museum Forest Research Institute Museum Marine Fisheries Academy museum

2.3. Market Trends:

Bangladesh is a developing country and like every other developed countries of the world, a museum plays a very important role in countrys development. In Bangladesh there was always a need for a historically/biologically enriched museum. Our project is to provide you both the taste of history with the essence of animals and sea life. We know that Chittagong is a goldmine of animals and forests and we are predicting that we would bring up the forests and animals in the museum in any possible. We have selected some ways so that these things could be brought into the museum. Some will be shown by photographs while some others will be visualized by the remarks or effect or significant item. Our goal is to try to put as much of those (Physical or Photography) including the extinct fishes and animals.

8|Page

2.4. Method of Sales and Distribution:

Selling tickets to the visitors will be the main source of revenue from the museum. There will be two other shops which will sell different products to the customers. One of the shops will be an antique store and another one will be a Foods & Drinks Store. A person who wants to visit the museum will have to buy the tickets from the counter adjacent to the museum building. There will be two different counters for men and women visitors. The sightseeing/Tour guide will also maintain a helpdesk service where any information regarding the museum will be found. This will be pretty helpful especially to the foreigners. We have not included the website ticket booking system. The reason for this decision is that if anybody whether local or tourists from abroad wants to buy a ticket, what he/she will be needing to do is to come to the place see this place and then decide whether he is going to enter or not. The two other shops will be run by two of the curators and in these shops, a visitor can come and choose any product he/she likes. There will also be wrapping papers in case they are intending to gift it to someone. We will be accepting debit and credit cards (MASTER card & VISA) for the convenience of the visitors.

2.5. Pricing
As this museum is our business (not a charitable organization), we will try to derive as much profit as possible in order to get maximum return from the invested money. We will be charging a bit higher price than regular government funded museums but we are committed to deliver them with more than what they are actually paying. The pricing of this museum is a very important thing because most of the revenue will come from here. The pricing strategies are formed by considering local people and foreign people. The ticket price of the locals will be lesser than of the foreigners. There are two reasons behind this decision. The main target market will be the local people Local people should get the advantage of seeing more by paying less.

9|Page

The Pricings are given below: Bangladeshi People

Adult: Tk. 250 Children (under 15 years): Tk. 150 Students with ID card: 180 tk.

Foreigneres(Visitors from other country)

Adult: Tk. 500 Children(Under 15 years): Tk. 350 Senior Citizens: Tk. 400

Antic Store Price:

The Price of different products of the Antic Store will vary from TK 150-1500 based on the product and size. The products that will be available here are mainly lamps, classical arts, utensils etc.

Food Store Price:

There will also be a food store from where different local foods and drinks can be bought. In this food store, there will be no fast food items or other widely available foods. This shop will only keep those foods and drinks which are made and distributed locally. The price of the food store will vary from tk. 25-300

10 | P a g e

2.6. Advertising Strategies and Public Relation

Advertisement is essential for every new coming business. Likely, the Shat Gang Center of History and Arts need to advertised so that people get to know about the place and what its specialties ar. I have jotted down a list of advertisement plan which will bring out maximum level of outcome for the museum. The advertisement plans areo Press Advertising- We will select some local press publishers and select an advertisement and will pay them to print it in their next edition. This will help me to reach a number of people in the society. o Advertising in Tourist Publications-We will also use some Tourist publication are like Tourist Guide, Chittagong City map etc. o Tour operators/Tour Guide- The tour guide is a useful way of attracting foreign visitors to the museum as the tour operators will tell them about the museum and they will be paid by us. o Schools-School is a best way to reach our message to the young people. The kids are always interested on learning and seeing new things. Letting them know about a museum which will include both historical and biological interest, will attract them towards the museum. o Radio Advertisement- Now days, FM Radios are getting more and more popular. We will select some radio stations and they will broadcast our message towards the people. o Mail shots-This is an important part of my advertisement strategy. I am willing to send people an invitation to the museum (with discount) through mail. This is another cheap and effective way of reaching a broad amount of people. The mail receivers will include Schools Social Clubs Club and society organizers o Leaflets o Souvenir Guidebook-We are going to publish a souvenir guidebook of our museum and will make it available in all the local news stands so that people can get access to it easily. (Micheal, 2006)

11 | P a g e

3. Financial Plans 3.1. Costs 3.1.1. Initial Investment

Location renting cost- The place we are going to use for the museum must be paid in the beginning as down payment/security money.

500,000 Tk.

Equipment Cost- Collecting and buying different equipment and objects (or life forms for the museum)-

2,500,000 Tk. Other- Aquarium purchasing and fittings, Decoration, Security System5,000,000 Tk.

Total =

8,000,000
The funds will be financed by me and my three partners. The rest will be loaned from bank.

12 | P a g e

3.1.2.

Fixed Cost

Salary of the employees Approximately 2,940,000per year Rent And Utility Bill-----Approximately 1,700,000 per year Insurance Cost-----------Approximately 1,100,000 per year Interest Expense------- Approximately 10,000,000 per year

Total=15,740,000 per year

3.1.3. Variable Cost

Research Cost- Approximately=350,000 Per Year

Total Cost= 16,090,000 per year

3.2. Revenue

Revenue:
Ticket Sale- 200 per day (Local People)40000 tk. (Per day) 1,200,000 tk. (Per Month)

Ticket sale-100 per day (Foreigners)50000 tk.(Per day) 1,500,000 tk. (Per Month)

Antic Store Sales- Foods And Drinks Stall Sales10000 tk. sales of
antic items(Per day) 300,000 tk. (Per Month) 1500 tk. (Per Day) 45,000 tk. (Per Month)

TOTAL REVENUE for one month= (1,200,000+1,500,000+300000+45000) = 3,045,000 per month

13 | P a g e

3.3. Profit for a Year

Revenue
=3,045,000*12
=36,540,000

Cost
=(15,740,000+350,000) =16,090,000

Profit=Revenuecost
=20,450,000

4. Environmental Strategy:
Shat Gang center of History and Lifes vision for the future is to advance our knowledge of the natural resources available in this historic city, inspiring better care of them. We seek to continually improve the environmental performance of our activities and we are committed to reducing impacts to the environment from all areas of our operation through our Environmental Management System which is an initiative taken by us to ensure no historic ruins or life forms will be damaged or hampered or disturbed while preserving them for future. We tend to take best possible care of them. o Aims: Ensure as a minimum standard, full compliance with relevant environmental legislation and other regulations applicable to Bangladesh Government departments relating to the sustainable use and protection of natural resources. Raise staff awareness of and train employees on this Environmental Policy and environmental matters and legislation applying to Museum activities within the city of Chittagong Commit to the Museums Energy Policy for monitoring carbon dioxide emissions and making improvements in energy efficiency such as adopting solar based power system. Promote sustainable options for staff and visitor travel and reduce impacts from exhibition and specimen transport. Monitor waste generation and recycling rates, promote waste minimization and progressively improve levels of re-use and recycling in all activities. Encourage suppliers and contractors, through appropriate specifications, to develop and supply environmentally preferable goods and services. Encourage the spread of sustainable technologies and services in the Museum sector and participate in public discussions about environmental issues. ( Tulloch & Edney, 2006)

14 | P a g e

5. Conclusion
Shat Ganga center of history and arts will create a new dimension in the concept of

museum in Bangladesh. The combination of both natural and life form of Chittagong will not only create a sense of interest in the minds of people for museum but also will create a new era in museum sector. We are hoping this museum to take it up to that level of standard where it can compete with any famous museum around the world.

15 | P a g e

6. Bibliography
Tulloch, W., & Edney, M. (2006, April 08). BSI Group. Retrieved August 1, 2012, from BSI: http://www.bsigroup.com/en/about-bsi/News-Room/BSI-NewsContent/Disciplines/Environmental-Management/-UK-Museum-First-RegisteredEnvironmental-Management-System-/ Catering business report. (n.d.). Retrieved March 29, 2012, from http://www.scribd.com/doc/26088956/CAtering-Business-REport Market trend of catering service. (n.d.). Retrieved March 29, 2012, from http://www.mplans.com/catering_marketing_plan/situation_analysis_fc.php McGovern, B. (n.d.). Market Plan. Retrieved March 29, 2012, from http://brianmcgovern.com/catering-business-marketing-plans/ Micheal, E. P. (2006, April 28th). Advertisement Strategy. Retrieved August 1, 2012, from www.isc.hbs.edu: http://www.isc.hbs.edu/pdf/Strategy_for_Museuems_20060427.pdf Wikipedia. (2012, July 26). Wikipedia. Retrieved August 1st, 2012, from Wikipedia: en.wikipedia.org/wiki/Museum

16 | P a g e