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MyAlladin.com.

mY

Deliver dreams and hopes

Executive Summary
MyAlladin Sdn.Bhd. provides solution based services for house renting which are effective and low in cost for our customers. Our service is that we will approach to public to search for the potential tenants by bringing them to meet their house owners; the rental house fulfilled his or her requirement, without wasting their pleasure time on surfing internet for the rental house. On conventional cases, people that trying to search for rental house in big city are those with low and middle income, which mainly consists of fresh graduated students; seeking job in a big city instead of in their own villages. To find a rental house, they have to do a lot of homework such as finding adverts, google-ing, phone calling and etc. However, due to time shortage, they will just rent the room or house that they dont really like it for temporary while seeking for next house or room that suit to them. Thus, many time and cost have been paid into searching a satisfactory house or room. As usual, a web page is necessary as a platform for house owner and tenants to communicate and to discuss more about the rental details. We provide Myalladin.com to our users to ease them in meeting their opportunity. According to a survey conducted in 2010, there are approximately 108,331 students in IPTA Universities and 80,605 students for the IPTS Universities and Collages at the Malaysia. This brings the total number of students at Malaysia is more than 188,936 people. Another survey data showed that the total percentage of lower income (RM1501-RM2000) and middle income (RM2001-RM4000) households in Malaysia were 15.6% and 51.1% respectively. Those classes of household are most likely renting houses. In Kuala Lumpur area, middle income household consists of 51.2% of total household. Hence, the market volume is almost 51.2% of household who will possibly seek for house renting and a huge number of potential tenants out of 188,936 students graduated from universities. To expand our market area and throw off our competitors, the most effective way is through branding our service. We improve our service quality through listening to customers (house owner) and partners (tenant) feedback. Hence we must maintain the highest level of services that can gain satisfaction from both parties and enhance the relationship among them. In conclusion, this service can solve the major problem associated with tenants who have difficulty on obtaining appropriate rental house, especially fresh graduate students. House rentals are in reasonable and appropriate price to every level of tenants.

MyAlladin.com.mY

Deliver dreams and hopes

General Company Description


1.0 Company Overview

MyAlladin Sdn.Bhd. is located in Damai Impian Seksyen 3, 43650 Bandar Baru Bangi. It was formed by Ooi Woei Song, Muhammad Fakhry, Ong Chin Boon and Norhidayah Fathirah in November 2011. MyAlladin will provide solution based services for house renting that are effective and low in cost for our customers. 1.1 Vision: We strive to be the country leading search engine in property with excellent services and provide effective solutions for our customers. Mission Statement: We approach, listen and concern about public voices and we pay back with hopes and dreams. Your best partner: We will always be by your side. We wish to be your ALLADIN that concerning about your problem when you are alone in a big city and bringing hopes and dreams to you. Our service: By listening and caring, we bring you the person that who may help to solve your problem. There is always a solution for a problem. Our customers: Business is nothing as hard as you thought if someone is willing to help you up. We bring chances by connecting you with your customers. 1.2 1.3 Objectives Provide a platform for tenants to decide their living places. Provide satisfactory customer services and fulfil the demand of customers all the time. Build a good reputation of company with strong social impact. Management Team Mission and Vision

Our main management divisions are marketing, administration, development and finance. Norhidayah Fathirah (CEO): will focus on administration where leading the management team to the correct path. Ms Norhidayah is the person that selects the new market area for the company.

MyAlladin.com.mY

Deliver dreams and hopes Ooi Woei Song (Development Manager): will focus on service and product development. By analysing on the existing market situation, the services and products are planned to fulfil the requirement of public which are in lowest cost and most effective solution. Muhammad Fakhry (Financial Manager): will focus on the funding and loan taken by the company to make sure that the company can sustain for the next five years. Mr Muhammad will assist CEO in choosing the best strategy to run the booths and other activities in lowest cost. Ong Chin Boon (marketing Manager): will focus on managing the website and approaching the fresh graduates. Ms Ong will plan for all the activities and booths to seek for the potential tenants. She will also lead the customer team to deal with the house owners by providing consultation on house renting.

Market Analysis
2.0 Consumer Problems

For the new comers to the certain places, everything must be aliened to them which they need to explore first in order to capture their first impression about the new places. These new comers are usually whom want to find a job or accept offered jobs far away from their hometown, country, etc. The need for the house or room to be rented or sold is compulsory for them since shelter is human first basic requirement. But, with unknown circumferences and situations of those particular new places, the task of finding rental houses or rooms become a main obstacle that must be faced by all new comers. Furthermore, the needs of the houses which must be near to the workplace, KTM and etc. will make the house selection be more complex. On the other hand, the house owners who want to find new tenants and existing tenants who look for new partners might also face the same problem but from different perspective. They will only accept partners or tenants that look comfort to them or meet their requirements. Female tenants will seek for female partners only and house owners will only rent the house if the tenants are willing to rent for more than one year and agree for certain offering price. Hence, by looking on those examples, it is not easy to meet people you may not know in such a big city. 2.1 Market Survey

Property Rental Service can be described as a service that provided by middlemen to help tenants to meet their house owners. It normally serves for both parties but in many services, the attention is focusing more towards house owners to join their services. Tenants will use their service to search for owners. According to a survey conducted in 2010, total percentage of lower income (RM1501-RM2000) and middle income (RM2001-RM4000) households in Malaysia were

MyAlladin.com.mY

Deliver dreams and hopes 15.6% and 51.1% respectively. Those classes of household are most likely renting houses. In Kuala Lumpur area, middle income household consists of 51.2% of total household. Hence, almost 51.2% of household will possibly seek for house renting. The detail is summarized as table below.

(Source: Housing affordability issues for middle income households: The Malaysian perspective, 2010) 2.2 SWOT Analysis

Strength: We are not merely a search engine! Most of the time, Google, Cari.com and other search engines are useful to find some rental houses around the area that people are going to stay in. And even some will seek from the newspapers and magazines. However, it will take time sitting in front of computer for whole day long just to look up for the house that they want and compare the price. Tenants select their rental houses based on the pictures provided inside websites or newspapers with some descriptions about the surrounding situation. When they reached to the spot to have a look at the situation, sometime it may not like the one as mentioned. Due to there are time consuming and costly for tenants to search for rental houses, so they prefer to accept the place first and look for the better place, next time. We help tenants to save time

We will approach to public to search for the potential tenants by running booths in universities for fresh graduates who are going to work, in shopping mall and in various events such as career work fair and etc. With that, we find our tenants and we provide them with some choices on rental house that fulfilled his or her requirement. Hence, those tenants can save time on surfing internet for the rental house. Furthermore, we will not charge for any cent on those tenants.

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Deliver dreams and hopes Create win-win situation among owners and tenants

Our company is a platform that allowing owner and tenant to contact with each other for long term renting. Many tenants will not stay for long where starting from beginning they have already disliked the place. They will move out when there is a better place for them. Thus, the owners will be fretted about their landlords. The problem can be solved if we link the tenants with the owners together where the house can bring satisfaction to both parties. It is important to have good communication among owners and tenants. Owners can actually understand what tenants requirement on their landlords, an improvement can gather from discussion. Weakness: Low growing rate

This is a big market where potential tenants are everywhere. It is a hard starting where our company is not famous among public and with limited employees we are not able to increase our profit earning in a short duration of time. Require a huge database

To fulfill the potential tenants requirement we have to have a huge database on the owner side where it is not easy to collect within a short duration of time. Dealing with both parties

For conventional rental house websites, they are just a platform for house owners to meet their tenants and some service charged on owner side. Those websites do not care about the fulfillment of tenants. For our business, we need to approach to both of the owner and tenant side. We have to have a variety of choices for tenants and consult them on making choice. Moreover, we have to deal with owners, if within their limit, how they meet those tenants requirements. Opportunities: Able to serve additional customer groups

Comparing to conventional rental house website, we can meet more customers and provide more interaction between owner and tenant. Able to expand our market

Our market can be expanded to international level by providing accommodation for investors or specialists from oversea who want to work or invest in our country.

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Deliver dreams and hopes Threat: Competitors

We have to share the cake with competitors that have the similar business idea. Companies with larger organization will have more manpower on seeking potential tenants. Hence, the business opportunity will decrease. Sustain company at the beginning

Due to small number of employees that we are able to pay for, thus, the profit gain for first few years are hardly to maintain the expenses of company.

Services Overview
3.0 Service Opportunities

From the problems that been stated above that faced by both parties (tenant and owner), it is important to have some methods or services that can mix and match both parties together and create a win-win situation among them to solve their problems through fulfilling their requirements with reasonable benefits. So, we decided to start a brand-new service to bring the potential tenants to meet their house owners. As normal, a web page is required as a platform for house owner and tenants to communicate and to discuss more about the rental details. In this website, it contains all the information related to houses or rooms to be rent or sold and also potential tenants and renters details. The idea is different from the conventional services where both parties enter their information and requirements then we act as the middle or third party that will match the information to the requirements and finally help tenants to find rooms or houses and also owners to meet their tenants. For every successful matching we made, around 15% to 20% will be charged for our service on owner side. As the starting, we will target our service on Selangor and Kuala Lumpur areas since both places offer higher job opportunities and lot of infrastructures and with higher number of middle income group. 3.1 3.2 Benefits and Features Provide the satisfactory services to both parties Personal trained staffs to consult our house owners improving houses facilities to rise the house rental without losing tenants interest personal qualified staffs to help our tenants searching houses without wasting time Why people need this service?

For low and middle income household, their average incomes are not able to own a house in this big city with high cost properties. Some will start taking loan from bank to buy a house,

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Deliver dreams and hopes but not every household can successfully get the loan, so they will remain living in rental house to save for some money before start to own a house. Our service is critical to them as we helped them searching for house that fulfilling their requirement without wasting their pleasure time.

Business Concept
4.0 Technology

Our website will have the most updated information provided to both parties: customers (house owners) and partners (tenants). Latest newsletter will automatically send to customers for those who create an account in our website. Partners are able to access our company website to view and select the house which is suit for them. Each unit will have detail description about the location, area, price, owner and design of the house. Partners can have the rights to visit the house before they rent or buy it and will be accompany by personal qualified staffs to convince them. Concept and Strategy

4.1

Our company will focus on the three market segments: university students, local area professionals and university faculty and staffs. Our potential partners who are also the tenants are usually looking for: 4.2 A convenient location Living facilities that foster a safe and comfortable environment Reasonable price House or room partners Marketing Strategy

The only way to truly know the quality of our services is through customers and partners feedback. Hence we must maintain the highest level of services that can gain satisfaction from both parties and enhance the relationship among them.

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Deliver dreams and hopes 4.2.1 Branding Rewards will be given to partners or customers that refer new clients to our company. This will encourage people to try promoting our website. It will also give the appearance of increased demand. 4.2.2 Strategy Canvas
6 5 4 Cari 3 2 1 0 search slot sources picture reward userfriendly features Lawyat Myalladin

By comparing among website, we plan our marketing strategy to improve on our website services and features so that we can able to sustain our business in this huge Red Ocean. Search Slot: Three of the websites provided searching slot. When users want to know about the available houses for renting in a particular location, they will normally search in Lawyat.com.my and Cari.com.my as both websites are those famous website in Malaysia. Hence, users will use the searching slots to find for houses, therefore, they have to type in the whole location name and the rental keyword for the rental houses in that particular location to be searched. For Myalladin.com, the search slot starts to search for the first alphabet that keyed in. Hence, buyers are more easily to search according to the location when using our website. Users get the result faster. Sources: Talking about the sources, definitely Cari.com.my and Lawyat.com.my websites are providing a lot of sources not just focusing in house rental sector. But for our website, the direction is the simpler the better. In future, we will enrich our website in sources but mainly focusing on making the website as simple as possible, so that even low educated users can easily to understand and use it.

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Deliver dreams and hopes Pictures: Cari.com.my and Lawyat.com.my do not show the complete picture on those rental houses. Those websites are mainly depending on their users to provide details when there are other users asking questions inside the forum. In our website, we stress on clear pictures when house owners uploaded them, some technical support on taking photo are given to them during the consultation. 4.3 Pricing Strategy

We follow the market pricing trends in order to maintain a competitive advantage. Survey will be done in the market to get a reasonable price that suit the customers. 4.4 Promotion Strategy

Our most successful promotion tool will definitely be the social networking websites. We will do our promotion activity through social networking websites such as Facebook, twitter, Friendster, my space and etc. Since these social websites are popular nowadays, we will be highly visible to the public. Those services provide convenient for users who want to find houses without going out.

Goals
5.0 Five-year Goals

In five years time, our Company wishes to achieve these goals. 5.1 Return of investment in one year time. Expand the existing coverage area in Selangor to other state in Malaysia. Become the well-known house rental or sale intermediate in Malaysia. Become the first choice of customers to buy or rent their houses. Expand current size of company around 30%. Market Share Objectives Update our website from time to time in order to attract new customers and also to keep the old customers. Concern about partners and customers opinions, feedbacks, interest as well as demands. Attract more customers to promote their houses in our website.

MyAlladin.com.mY

Deliver dreams and hopes Establish a strategic marketing plan which would always update with current market demand. Revenue/ Profitability Objectives Achieve positive revenue and constant growth rate for every year. Reduce the expenses of company and thus can increase the profit.

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5.2

Financial Plan
6.0 Start-up Expenses The start-up expenditures for Myalladin Sdn.Bhd. are summarized below: Sources of Capital Investment requirement Total Investment RM10, 000 RM10, 000

Start-up Expenses Website Payroll: Part-time staff Full-time technician Full-time staff Company Expenditures Consulting Services Promotion Total Start-up Expenses RM47, 520 RM21, 600 RM120, 000 RM76, 800 RM 5, 000 RM100, 000 RM375, 920 RM5, 000

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Deliver dreams and hopes 6.1 Revenue Forecast in 3 Years


Sales Forecast (3 years): Myalladin Sdn.Bhd. Year 1 successful mix-matching cases Year 1: 5,000 cases Year 2: 15,000 cases Year 3: 30,000 cases Others: Company maintenances Total Revenue RM5,000 RM5,000 Year 2 Year 3

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RM450,000 RM1,350,000 RM2,700,000

RM450,000 RM1,345,000 RM2,695,000

3-Year Revenue Forecast


RM3,000,000 RM2,500,000 RM2,000,000 RM1,500,000 RM1,000,000 RM500,000 RM0 Year 1 Year 2 Year 3 3-Year Revenue Forecast

MyAlladin.com.mY

Deliver dreams and hopes 6.2 Profit and Loss Projection (3-Year)
Year 1 Revenue (Sales) successful mix-matching cases Company maintenances Year 2 Year 3

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RM450,000 RM1,350,000 RM5,000

RM2700,000 RM5,000

Total Revenue (Sales) Operating Expenses Myalladin.com maintenance fees Payroll Company Expenditures Consulting Services Promotion Total Operating Expenses Profit Before Taxes Taxes (10%) Net Profit

RM450,000 RM1,345,000 RM2,695,000

RM5,000 RM189,120 RM76,800

RM1,200 RM332,880 RM76,800

RM1,200 RM665,760 RM76,800

RM5,000 RM100,000 RM375,920

RM8,000 RM200,000

RM12,000 RM300,000

RM618,800 RM1,055,760

RM74,080 RM7,408 RM66,672

RM726,120 RM1,639,240 RM72,612 RM163,924

RM653,508 RM1,475,316

MyAlladin.com.mY

Deliver dreams and hopes

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Total Operating Expenses


RM1,200,000 RM1,000,000 RM800,000 RM600,000 RM400,000 RM200,000 RM0 Year 1 Year 2 Year 3

Total Operating Expenses

Net Profit
RM1,600,000 RM1,400,000 RM1,200,000 RM1,000,000 RM800,000 RM600,000 RM400,000 RM200,000 RM0 Year 1 Year 2 Year 3 Net Profit

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Deliver dreams and hopes

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Basic Requirements
7.0 Resource Requirements

The resource requirements are the personnel, time, space and equipment necessary to create and maintain company website. To host a website, we will need a dedicated server machine, a secure location in which to store it, and a dedicated internet connection (DSL, T1, cable modem, etc.) to keep it permanently online. We will also need to allocate money to pay a technician to regularly maintaining and updating the site. In addition, we need to get more people to publish their houses in our websites in order to have consistent consumers. 7.1 Technology Requirements

Our company will invest in getting a lot of house owners to provide our tenants with choices of living places. We will continue to upgrade and modify the systems to stay current with communications technology. The technology that we use is totally unique and unable to purchase from other companies. One of the main attractions is linked with social websites. Everyone can access our website easily. 7.2 Personnel Requirements

Our staffs can be categorized into three groups which are part-time, technician and full-time staffs. Part-time staffs will have a total number of six employees working thirty hours a week. In addition, one full-time technician who is more technologically oriented to handle maintenances of company website will be employed to work forty hours a week. Besides, five full-time staffs will be in charged the inquiry of customers. This simple structure provides a great deal of flexibility and allows communication to disperse quickly and directly. Because of these characteristics, there are few coordination problems seen at our company that are common within larger organizational chains. 7.3 Financial Distribution and Promotion Requirements

The following sections lay out the details of our financial, distribution and promotion requirement for the next three years. 7.3.1 Start-up Funding This business plan is prepared to obtain financing in the amount of RM 400,000. The supplemental financing is required to begin work on site preparation and modifications, equipment purchases, and to cover expenses in the first year of operations. 7.3.2 Company Expenditures i. Payroll Expense Our company intends to hire six part-time employees by the end of year one at RM 5.50/hour and a full-time technician at RM 1,800/month. In addition, we plan to hire five full-time staffs at RM 2,000/month.

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Deliver dreams and hopes

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ii.

Rent Expense Our company is leasing a 700 square foot shop at RM 1,400/month. The lease agreement we signed specifies that we rent the shop for a total of 36 months.

iii.

Utilities Expense Utilities expense that our company must pay is the phone bill generated by fifteen phone lines; thirteen will be dedicated to modems and two for business purposes. Further, there will be expenses on water and electricity bills too. We allocate around RM 5,000 for utilities expenses per month.

iv.

Marketing Expense Our company will allocate RM 100,000 for promotional expenses over the first year. This budget will be used for advertising in local university and company areas in order to build consumer awareness.

7.3.3 Competitors The service nature of our company does not currently face any competition from others in market. 7.3.4 Promotions Our company will implement a pull strategy in order to build consumer awareness and demand. Initially, we has budgeted RM 50,000 for promotional efforts which will include giving with discount coupons for first 20 partners in local universities areas.

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Risks and Solutions


8.0 Investment Risk

In setting up a new business, the main problem that will be faced by entrepreneurs is regarding to financial, which is costs. In our business, the start-up expenses are the cost on developing webpage, payoff, overhead cost, etc. There are many ways in getting the start-up funding. One of the ways is by taking a loan from the banks which we must have something that can be used as collateral as a guarantee for the loan given. Usually, the bankers will set an interest rate for loan given, which perhaps can risks our new business if it does not doing well in its first year performance. Yet, the contract of loan itself may cause us to loss our company once it has been reached and the payment is still not been settled. The other ways for getting money is by borrowing from families, relatives and friends. But this method has risk since we did not know when the money borrowed can be pay back in the future. 8.01 Addressing Investment Risk

To reduce the investment risk until the level that we are able to handle, we prefer to apply for grant from government but not to borrow from bank solely! To get our start-up funding in a secure way, we will take grant from Cradle Investment Programme (Source: http://www.cradle.com.my/cms/index.jsp) with the amount of RM240, 000 (60% of the total amount of start-up funding). And, we will take loan from bank with the amount of RM160, 000 (40% of the total amount of start-up funding). Hence, with this method, we can reduce our start-up cost by getting subsidiary money from grant and reduce our companys debts to minimum. 8.1 Market Risk

Our target market for this business is tenants among fresh graduates whom get the jobs in Kuala Lumpur area. But it is known that market always volatile since the property bubble is growing bigger and bigger every year. Therefore, we cannot make sure whether we will gain revenue from the first few years since the price of house rent will rise drastically in service areas and we might hardly match the requirements since fresh graduates will not be able to rent expensive houses. This indirectly can cause less business to our company. 8.1.1 Addressing Market Risk We will ask for consultant to guide us and lead us in our business. By getting consultants to advice on our business direction, we can foresee the market future and make a right decision by providing the service that meets the market requirement. In our start-up expenses, we included the cost of consulting service. But the good thing is; our government department (Malaysian Investment Development Authority MIDA) has provided consulting services to those entrepreneurs who want to start up business in Malaysia. The consultants send by government to help us is totally free of charge and we will meet our expertise who is business savvy through this government sector. (Source: http://www.mida.gov.my/)

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Deliver dreams and hopes 8.2 Existing Competitors

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Existence competitors that offer the same service like us will affect our business in order to capture of users heart. People might be familiar using web page like mudah.my, google.com, or else compare to ours which it really takes time to change people from their old habits. 8.2.1 Addressing Existing Competitors To compete with our competitors, we must make sure that our website consists of friendly interface, attractive design, and also easy to access. To achieve those three qualities are also a risk where fail doing so will causing loss of potential customers. 8.3 Copycat Risk

Copycat can happen when people stealing our business idea and finally form their owned with claiming that the business is theirs at a first place. It is possible that a copycat website will spring up not only one, but can be two, three or more which will begin to take our business slowly and silently. 8.3.1 Addressing Copycat Risk Use of copyright and trademark laws to protect our online business idea will keep us stay vigilant in our efforts to remain ahead of the competition. (According to online legal resource FindLaw, you cannot trademark a website. However, you can trademark your company logo and any other distinctive image you use to identify your business such as a company motto or slogan. Websites do fall under what is known as trade dress protection which can protect the look of your website if a competitor's website is causing confusion in the marketplace. )

Conclusion
Businesses need plans to be achieved in the short term and long-term. When talking about the short term, it is related to the matters to be achieved in less than a period of one year during operations carried out. The thing that must be overcome in the short term, this is a lot of business operation involves. Mostly a matter related to business management. At this early stage is to promote this website to its maximum. Based on the problems associated with the website are from the security system. This website security system will be upgraded from time to time according to their needs. Target users at this early stage are to obtain a total of 30 users within one week of the first period of a month. It was seen as realistic based on the total target group of users, the fresh graduate students. (Based on the data that has been given; a total of 188,936 fresh graduate students in 2010). An estimated 15,744 students per month. Based on this value, the expected number of customers directly moved higher.

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Deliver dreams and hopes Long-term planning can be defined with respect to an issue or matter which involves a long period of time. Things to focus are concerned with the selection of an appropriate rental home among tenants, especially the fresh graduate students. Plan regular or systematic method used to achieve long-term goals of the organization. It is up to the discretion in formulating strategies to achieve long-term goal of a business. Among the long-term plan is to expand our services to include neighbouring countries soon. For example, countries such as Singapore, Indonesia, Thailand, Vietnam and Southeast Asian countries to another. This target is placed for a period of five years up to seven years during the period of service. Great hope that one day this service will help the students or house owners around the world are using this service as a way of working and incurring a rental house in accordance with the individual. The target was placed on 10 years to 13 years over the period of service. Looking at the dumping university students who could not find work and the difficulty in finding suitable rental homes provide a great space to the success of this service. In addition, competition for such services is not very large increase confidence in the success of this service. Last but not least, we do hope that we are able to achieve our key aim issues either near term or long term.

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