T4_G2_BUSINESS PLAN BOOKLET

华夏中青CYHS
Business Plan 21/22

TABLE OF
CONTENTS

1.0 Executive summary

1.1 Problem Analysis
1.2 CYHS Franchise Business Model Canvas
1.3 Entry Mode
1.4 Mission
1.5 Headquarter
1.6 Timeline

2.0 Competitive strategy

2.1 Market analysis
2.1.1 Ease of Starting a Franchise
2.1.2 Demand
2.1.3 Supply
2.1.4 Risk Analysis

2.2 Core Competencies
2.2.1 Recruitment & Training
2.2.2 Quality Service

2.3 Industry analysis (Competitions)
2.3.1 Market capacity
2.3.2 Target Market Analysis
2.3.3 Industry Competitors
2.3.4 Conclusion

2.4 Marketing strategy

3.0 Finance & accounting

3.1 Financial Assumptions
3.2 Financial Plan
3.3 Franchise Startup Cost
3.4 Pricing
3.5 Projected Profit and Loss
3.6 Loan Analysis
3.7 Projected Cash Flow

4.0 Management & organizational structure

4.1 Organisational Structure
4.2 Team Overview
4.3 Personnel plan & Consultant Team

5.0 References

OWN WORK DECLARATION

We hereby understand my/our work would be
checked for plagiarism or other misconduct,
and the softcopy would be saved for future
comparison(s).

I/We hereby confirm that all the references or
sources of citations have been correctly listed
or presented and I/we clearly understand the
serious consequence caused by any intentional
or unintentional misconduct.

This work is not made on any work of other
students (past or present), and it has not been
submitted to any other courses or institutions
before.

Amy Dessydellya Jok Kin Lee Hui Ee
IBU2004388 IBU2004396
Goh Hui Min
IBU2004389

Koh Chi Jie Jimmy Chong Zhao Xuan Jestin Teng Din Jet
IBU2004395
IBU2004392 IBU2004391

1.1 Executive Summary: Problem Analysis

EXECUTIVE
SUMMARY
PROBLEM
ANALYSIS

In China, there is a massive demand for

housekeeping services from people

who live in cities, are busy with work

and lack time to do housework.

However, there is a significant gap

between the supply and the

overwhelming demand for

housekeeping services.

The Chinese government stated that
promoting home services is able to
reduce the unemployment rate and
further improve the life quality of the
citizens. The Chinese government
decided to take some actions to boost
the home services, such as providing a
discount for the tax, providing financial
support, reducing the cost, etc.

1.2 Executive Summary: Business Model Canvas

BUSINESS MODEL CANVAS

KEY PARTNER KEY VALUE CUSTOMER CUSTOMER
ACTIVITIES PROPOSITIONS RELATIONSHIPS SEGMENTS
华夏中CYHS Corporation (
青家政连锁) Recruiting housekeeping Professional training Feedback and rating Working groups
employees classes system Middle-class households
Providing training class High quality services
Recruiting and providing
tutors CHANNELS

KEY Website
RESOURCES Social Media
Advertisements
Brand
Housekeeper and tutor
network

COST STRUCTURE KEY RESOURCES

Employees’ salary Renewal of franchise fee Hiring fees
Training fees Rental fees
Franchise fees Equipment purchase
Advertisement fees

Figure 1: Business model Canvas)
Source: Original

Figure 1 is a business model canvas, and it has shown our concept to start up, or precisely, our business
entry into China. Firstly, we will seek our partner, Hua Xia Zhong Qing Housekeeping Corporation (CYHS),
and become one of their franchisees as they are currently seeking franchisees as well. After that, we will
have three main activities: recruiting people interested in becoming housekeepers, providing professional
training classes, and providing tutors. We are confident that we can use our partner's reputation to recruit
employees and not underestimate the network between people nowadays. Besides, we will attract talented
employees via professional training which is provided by the CYHS and also provide additional training
ourselves. We can guarantee that every employee becomes professional even though they have no
experience before. Besides, we provide after-sales services. Families who hired our company can give their
feedback via our hotline. We will also deal with all feedback seriously, ready to improve at any time. Apart
from that, we will have three customer segments: families who need childcare, tutors, and cleaners. Not to
mention, profit maximization is of utmost significance to a business, no matter inflows or outflows. In this
business, we will have some essential costs, though not too much, such as the employees' salary, franchise
fees, training fees, renewal of franchise fee, renovation, purchase cost, and bills. But, we will cover all of
these expenses with our hiring fees and commissions.

1.3 Executive Summary: Entry Mode

ENTRY MODE

Franchising will be our entry mode. There are
a ton of advantages for us to franchise.
Firstly, we will have brand support from
CYHS, which has over 17 years of excellent
reputation in housekeeping services, like
having the authority to use their brand name
and logo. They also provide us instant
information when China's government is
taking any action, such as amending the law,
adding new regulations, and more. This
support will definitely help us avoid violating
any rules or laws unconsciously. In this
regard, the risk of operating a business will
be minimized. If we are still accidentally
violating laws and regulations, CYHS will
even provide us consultation for emergency
conditions and guide us to get through it.

Furthermore, we will get training support
from our partners. CYHS has professional
training classes for many positions, like
housekeepers, managers, customer services,
and others. Lastly, CYHS will provide
technology and advertising support for us.
They will form a series of meetings for
franchisees to communicate and show the
new policies, models, or technologies. Also,
they will put our company's name into their
official website and phone application in
order to promote our services. They also
mentioned that they often accept interviews
on social media platforms like the television,
internet, WeChat, newspapers, radio, and so
on to do advertisements

1.4, 1.5 Executive Summary: Mission & Headquarters

MISSION &
HEADQUARTERS

MISSION HEADQUARTER

Our company mission and vision are to let youth We have decided to situate our headquarters in
organizations utilize their network advantages to Shanghai. This is because Shanghai is one of the
lead massive job seekers to join this special economic zones in China. Additionally,
housekeeping sector. We aim to provide superior with Shanghai’s fast economic development,
quality services to millions of families in China living standards are simultaneously raised.
and to bring the industry to greater heights. This Hence, in some families, both parents typically
is to ensure that housekeeping services could need to work to afford expensive goods
become more accessible, modernized, and (Nagayasu & Liu, 2008). Since mostly both
standardized. parents are working, in this regard, they rarely
have free time to care for their house cleanliness
Also, we believe that "A high and good quality of and take care of their children. According to the
services will create happiness". We desire to China Daily (2020), Shanghai is one of the cities
create the best housekeeping services in China with the most significant demand for babysitters
and become the qualities of housekeeping and cleaners. After the pandemic occurred, the
services' benchmarks in China. demand for housekeeping services and the
babysitter had increased by 11.59% and 50.01%
within eight months. The supply of housekeeping
services in Shanghai is still unable to cover the
demand. Therefore, Shanghai is the best choice
to set up our headquarters.

Year 1 1.6 Executive Summary: Timeline

Year 2 TIMELINE

Year 3 Franchise with CYHS
Year 4 Elevate threshold to hire employees
Year 5 Conduct effective 12-week training programme
Using market penetration
Using comparably lower price
Adopt Chinese promotional culture
Improve sales services

Strength training program
Amend pricing to higher
Endorse a famous celebrity
Net profit is expected to increase a minimum of 2%
Increase at least 1% salary
Increase the number of tutor/trainer & employee

Sponsor reputable variety shows
Net profit is expected to increase a minimum of 2%
Increase at least 1% salary
Expand management team

Net profit is expected to increase a minimum of 2%
Increase at least 1% salary

Net profit is expected to increase a minimum of 2%
Increase at least 1% salary
Increase the number of tutor/trainer & employee
Expand management team

2.1 Competitive Strategy: Market Analysis

COMPETITIVE

STRATEGY

EASE OF STARTING BUSINESS

Ownership
Independence is one of the things that a franchise offers (Business
Queensland, 2020). In this new era of which millennials and the
generation like us dominate the business industry, we prefer freedom in
making decisions (Hee & Rhung, 2019).

Convenience
Although we are from business backgrounds, it does not mean that we
have the necessary skills or experience to manage a business.
Precisely, franchising would be a great advantage to people who have
little to no knowledge of business, as the franchisor would provide us
with training and institutionalized knowledge that is essential to
operate the business (Perry, 1990). For example, CYHS welcomes
college students, laid-off workers, migrant workers, veterans, and even
the disabled as their franchisees (CYHS., 2021d).

Success Rate
Typically, a franchise's business failure is relatively low compared to
other types of market entry (Business Queensland, 2020). In this case,
as a new franchisee, we would have a better chance of success.

Finance
In this aspect, financing a new business instead of buying a franchise
would comparably be more expensive. As we are currently students
and interns with little financial standing, financial issues would pose to
be a challenge but our franchisors, CYHS Company, offered an
attractive prospectus which ultimately leads to our decision in regards
to franchising (Kaufmann, 1999). Mainly, the franchising fee is priced at
58,000 yuan (RM 38,356.18). After 3 years, the continuation fee would
be 2,000 yuan (RM 1,322.63) for 3 years (CYHS, 2021d).

Publicity
Most franchises are reputable and have a steady standing in the
market, the same applies to CYHS. Their image and existing customer
base would serve as one of the publicity methods. Another instance
would be the publicity for the whole brand provided by the company
itself. For example, CYHS offers business exhibition boards (CYHS,
2021d).

2.1 Competitive Strategy: Market Analysis

MARKET
DEMAND

...estimated that the value of the
cleaning service businesses in
China surpassed 800 billion yuan
worth (RM529 billion) in 2018,
and it is expected to be worth
over 1 trillion yuan (RM661 billion)
soon.

- Dao Insights (2021)

The second reason would be the high demand for this Moreover, as women are increasingly involved in
industry. It is estimated that the value of the cleaning the working class, they would have demanding
service businesses in China surpassed 800 billion work schedules to juggle between work and family.
yuan worth (RM529 billion) in 2018, and it is Hence, the wealthier would employ cleaning service
expected to be worth over 1 trillion yuan (RM661 companies to have their houses cleaned (Dao
billion) soon (Dao Insights, 2021). The demand is Insights, 2021) whereas some would hire us for
especially high for the working class and the middle caretaker services. Additionally, the demand is also
class. According to Zhu (2021), the increasing living due to the ease of access. An example would be
standard and disposable income resulted in higher Dazhong Gongjiang, another professional cleaning
demands and expectations of household hygiene. service company, which offered its services online,
Statistics have shown that the Chinese household enables customers to ‘order’ for services, and rate
cleaners industry was at USD 3,552 million (RMB the performance of the cleaners - all within a mobile
22.6 billion) in revenue, in 2018 alone, and growth of application (Dao Insights, 2021). Not forgetting that
4.1% in the industry is expected annually (Zhu, 2021). there is also a demand for multilingual maids and
Additionally, about 63% of Chinese respondents also for their professionalism (Chen, 2018) which
regard deep cleaning as significant in their homes, we would elaborate more on how we would meet
according to a consumer survey conducted by Alfred this demand in the next subtopic.
Kärcher in 2019 (Statista, 2021).

2.1 Competitive Strategy: Market Analysis

MARKET SUPPLY

Main job: Recruit housekeeping staff to deliver
human societal services such as cleaning,
tutoring, babysitting, and other services

We will be using labour contracts to establish labour relationships and provide them to the hirer.
We’ll classify employees into hourly workers and contract workers. Hourly workers are part-time
home tutors or cleaners, while contract workers are full-time babysitters or employees who need to
stay at the hirer’s home for a long time.

We are devoted to establishing a diverse staff from different regions,
cultural backgrounds and abilities based on the market and customer needs.

We will hire babysitters, Shanghai CYHS outsources
caregivers and cleaners locally international tutors

Firstly, to safeguard the domestic low-end labour Second, in terms of home tutoring, the number of tutors
market, and because China does not allow low-end available is still insufficient to fulfil market demand, so
international workers to work in the country, we will Shanghai CYHS outsources international tutors
hire babysitters, caregivers and cleaners locally. It is (International Business Daily, 2019). To avoid touching
more secure and feasible because there is no probation the bottom line of the law, our company strictly uses
term or temporary account for foreign servants. Hiring legal work visas. It ensures that tutors can meet all
them will bring specific hidden threats to our basic requirements so that no regulations are violated
organisation (Zhao, 2018). Furthermore, hiring local to protect the safety of our company, workers, and hirer.
workers can use domestic high-quality human As parents have paid more attention to foreign
resources and solve the job shortage problem in language teaching in recent years, many families will
China's cleaning, caregiving and childcare work. In fact, choose foreign teachers to be their tutors. Therefore,
the phenomenon of "shortage" shows that the Finland and UK tutors are Shanghai CYHS’s target. The
housekeeping industry is not only a "babysitters’ reason to outsource from these two countries is that
shortage" but also a "mid-to-high-end babysitters’ high-quality tutor education is the backbone of Finland
shortage". Therefore, we are even more convinced to and they all communicate well in English while
become franchisees of CYHS because CYHS is choosing British tutors is because their teaching
increasing and expanding employment opportunities workforce is youthful in the industrialised world, and
for laid-off people and rural surplus labour. Not only their starting earnings is below the OECD average
that, CYHS also has strong training strength and (Coughlan, 2018; Finland Toolbox, 2020). China has
certification support for us. We believe it can help us always welcomed foreign tutors as English tutors and is
hire better quality workers (CYHS, 2021a). In this case, providing more jobs for them (Gamlam, 2019). So, there
our company has a steady foothold in China, has better should be no issues in this area because the most
guanxi and is more able to understand customers' convenient way for foreigners to teach is through an
needs. intermediary, and we are a big draw for them.

2.1 Competitive Strategy: Market Analysis

RISK ANALYSIS

News such as tutor assaulting the boy for nine months, baby girl tortured to death
by the nanny, and cleaning staff stealing things often happen. This will cause panic
and affect the housekeeping service industry (Lang Hua, 2021; Sina, 2008; Lian,
2021).

REANSON Firstly, it is due to the low entrance requirements. Workers who have an ID card, a health
WHY THESE certificate, and the ability to conduct basic housework can currently provide services to
CASES customers in China's housekeeping service industry. Secondly, according to "China National
HAPPEN Government Service Industry Development Report (2018)", 88.6% of our country's
housekeeping service workers come from rural areas, their level of education is relatively
low, and most of them are "novices" in the industry (Economic Daily, 2018). These all result
in risks such as high mobility, high termination rate, high complaints rate and even violent
incidents in this industry. Therefore leads to disputes over the quality of service and hirer
spending money on services that are not sure if they are good or bad (Wang, 2021).

To manage the risk, the first task is to elevate our threshold to Moreover, to avoid the risk of high complaint
ensure that our workers are of high quality. We will run rates, Shanghai CYHS will preserve both
evaluations to make sure their personnel are in good mental parties' legitimate rights and interests,
health and have no criminal records to strengthen the providing a trial period for the hirer and
structure of the integrity system. Furthermore, Shanghai employees to understand their living conditions
CYHS will have a consistent evaluation system for the and examine each other before deciding
professional competence of housekeeping employees, and it whether to form a labour connection. This
is essential to increase specialization and strengthen helps to ensure the harmony of the
standardization (Department of Service Trade and relationship. We'll set up a hotline for
Commercial Service Industry, 2015). We will have industry complaints to protect people's rights.
access systems, qualification certification systems, regulatory Employees who have been reprimanded will
systems, service procedures, and service charging standards. face punishments from our organization. If the
Shanghai CYHS will also conduct online training and live case is severe, they will be dealt with through
broadcast teaching for practitioners, improving the quality of legal actions, and Shanghai CYHS will not
practitioners, and improving service quality from the source. shield or shirk responsibility. This allows the
Our company attaches great importance to the training and hirer to trust our company, and it also allows us
will prescribe the “right medicine” according to the abilities to immediately notify the management team
and problems of employees. We will also improve and ensure accurate documentation and
supervision, regularly check the situation of employees, and compliance.
strengthen management service responsibilities, and self-
discipline requirements.

2.2 Competitive Strategy: Core Competencies

CORE

COMPETENCIES

RECRUITMENT & We will provide experienced Chinese
TRAINING language teachers who will teach them the
necessary means of communicating in
Our company has developed an Chinese; as a foreigner can't learn Chinese
within 12 weeks, they must have proficiency
effective 12-week training in Chinese to a certain degree. The goal is to
allow foreigners to speak with clients and
programme that enables people minimize the language barrier when doing
the job. Moving on, we will also have
worldwide to receive sufficient professional instructors that train people to
conduct English tutoring. As they are
training to work for our franchises in foreigners, they should pick up on our
English tutoring scheme with their sufficient
China. While we do not have knowledge. Furthermore, they will be trained
on caregiving skills to handle young children
companies all around the world, we and elders. Our practitioners will make sure
that they are highly cooperative and can
are able to do this virtually. determine what are the correct actions to
take when providing care for elders and
Job criteria children. Other than that, they will also go
through housekeeping training to learn the
Have basic proficiency in skills needed to perform on the job. These
Chinese courses are all provided online and we will
Substantially experienced in constantly track their progress with different
English tests to see if they are competent enough
Achieved education level of after the whole course. Only when they pass
Bachelor’s Degree our training programme, we will conduct a
Over the age of 18 final virtual interview and shortlist the
Are not physically disabled or candidates.
have difficulty providing manual
labour The next step is to get them their working
visa (Z-visa) under the hospitality industry,
Virtual 12-week Course: as our main business resides with providing
Language, Tutoring, Caregiving, house services. Then, our HR staff will
House-keeping handle the necessary application and
residential process with the cooperation of
The course is specially designed so the hired staff. This effective and efficient
that foreigners can quickly regime allows us to recruit the best
understand and learn the needed candidates from around the globe.
working skills to work for us as a
household management provider.

2.2 Competitive Strategy: Core Competencies

VIRTUAL 12-WEEK COURSE

LANGUAGE TUTORING CAREGIVING

From Week 1-12, experienced Chinese From Week 2-6, professional instructors will From Week 5-12, practitioners will teach
teachers will polish communicating skills, coach on the know-hows on providing them how to handle young children and the
especially with people in China. This course English tutoring courses. The tutoring elderly. Such as, what to be aware of for their
aims to teach appropriate etiquette and scheme will be based on primary level safety, and some necessary actions when
providing care to customers. It is our duty to
minimize any language barriers. syllabus, and is suitable for children to learn make sure our staff can treat customers with
basic English. the same care as they would to their own

family members.

POST-COURSE TEST PROGRESS HOUSE-KEEPING
TRACKING
At the end of each course, we have a hands- From Week 7-11, they will learn our
on test that measures if they can apply what During the courses, we will track the comprehensive housekeeping skills to detail
trainees' progress constantly with live which include cleaning, bedmaking, laundry,
they have learned by attending a real-life meetings and provide case studies. This will
event near their place of residence. train their flexibility in decision making cooking, disinfecting, organizing, etc.

without compromising quality.

SELECTION APPLICATION

PROCESS PROCEDURE Figure 2: Virtual 12-Week Online Course

Through extensive interview processes and Once accepted, we will apply a working (Z- Process
carefully administered testing, the right visa) and our HR staff will handle the Source: Original
candidates are shortlisted.
necessary application and residential process

with the cooperation of the employee.

QUALITY SERVICE

In partnering as a franchise with one of China’s top-ranked household management companies, we are able to
provide high-quality service to our customers. The teams dispatched will always include an experienced worker
so that the new recruits are able to learn quickly and be supervised on the job. With this implementation, our
staff can grow at a fast pace and maintain the quality service our company provides. Other than that, with the
addition of foreign workers, we can offer a refreshing experience that is different from our competitors. Not to
mention, our staff will be thoroughly trained and will be able to provide extra care in handling the elderly and
children. We can outclass and outperform any expectations our customers have on us with compassion and skill.

INDUSTRY 2.3 Competitive Strategy: Industry Analysis
ANALYSIS
Market capacity
(COMPETITIONS)
According to research from Huajing Industry Research Institute
(2021), the capacity of the Chinese household service market was
around 878.2 billion Yuan in 2020 alone, with an increase of 25.91%
compared to 2019.

Target market analysis



Figure 3: Age Distribution in China from 2010 to 2020

Source: Statista
Reference: Textor, C. (2021).

Some of the research about this industry concluded that with the
implementation of the three-child policy in China, they believe that the
overall demands for these services, especially taking care of the old
and young, will drive the growth of services of this industry to rise
(Huajing Industry Research Institute, 2021). Moreover, the older
generations are becoming the main consumers who have a higher
demand. These main consumers are also strongly convinced that this
industry plays a significant role towards people of the same age
group. Although various factors cause the household market to be
rapidly growing, the market is still considered to be highly competitive
and spread out in China. One of the main factors is the increase of the
older generation in China. According to the National Bureau of
Statistics of China, the age pyramid is shifting towards the old in the
past decade, as people over the age of 65 have an increase of about
4% (Textor, 2021). Hence, the household services market is predicted
to grow even more alongside the older generation, as they are the
primary demographic audience that seeks the services we provide.

2.3 Competitive Strategy: Industry Analysis

INDUSTRY
COMPETITORS

One would assume that this developing Conclusion
industry has its top dominating
competitors vastly superior to other This means there is still a lot of untapped
brands. However, that is not the case, potential in the household services industry.
according to IBIS World research (2020), With minor service differentiation, a small
the in-home care and other household company also has a chance to stand out
service industry has no major companies amongst the rest with every unique detail. The
that own a market share of more than 5%. customer segments prioritise quality service as
Most competitors are diverse, and there is the main factor in deciding which brand to
yet to be a dominant figure. But this does choose from. Henceforth, maintaining quality
not mean that the competitors are weak, standards play an essential role in enlarging
in fact, it’s the opposite. The industry has our customer audience, word-of-mouth will
multiple companies doing very well also be vital because the elderly will often chat
despite not being on the top of the list. about these services amongst each other
This includes Shanghai Ajun Household during public gatherings. Even politically, China
has issued several guidelines and policies on
家Services, E-Home Household Service(e developing the domestic service industry,
快 服 ), Dalian Haoyuesao Household intending to promote the quality and market
capacity of household services (XinHua, 2019).
Services, and many more. As long as our company does not deviate in
providing good quality service and satisfying
customer’s needs, the industry is predicted to
grow steadily without any major obstructions.

2.4 Competitive Strategy: Marketing Strategy

MARKETING
STRATEGY

Based on the market matrix (Figure X), we are an existing
service in an existing market hence, our core marketing
strategy would focus on market penetration. Another
reason for our choice would also be that the market
penetration method is one of the simplest and fastest
growth strategies for most businesses (Hussain et al.,
2013).

Under the market penetration method, there are a few
strategies namely pricing strategies and adjustments,
increased promotional activities, services, technology, and
after-sales service.

Existing Products New Products

stekraM gnitsixE Market Product ksiR gnisaercnI
Penetration Development

stekraM weN Market Diversification
Development

Increasing Risk



Figure X: Market Matrix (Ansoff Matrix)

Source: Original Edit
Reference: CFI Education Inc. (2021)




pn

Strategies 2.4 Competitive Strategy: Marketing Strategy

01. Pricing Policies

Firstly, our franchise would adopt the penetration pricing
strategy where we would enter the market at a comparably
lower price than our competitors in the beginning (Thakur,
2021). The purpose is to stimulate sales by reducing the prices
in relation to the production cost, for a short amount of time

(Pamudji et al., 2015). At a later time, we would gradually

increase our charges upon the establishment of our franchise.

After the penetration strategy stage comes competition-oriented

pricing and value-based pricing.

Competition-oriented pricing is simply known as pricing based on what competitors are charging (Claessens, 2020). It
is also first and foremost, the safest beginning measure as we have had no idea of what the market was like prior.
Concurrently, it is one of the most dominant (Hinterhuber, 2008) but also the weakest pricing strategy (Nagle et al.,
2010). This pricing method would be in accordance with CYHS' recommended pricing. Moving forward, we would be
implementing value-based pricing as it highly reflects a customer’s willingness to pay for a product over another that is
concerning its value (Nagle et al., 2010). Hence, when consumers project resistance to our offered prices, the indicators
would be that our service is not meeting expected values, our value-based pricing is not communicated effectively, or
the offering is considered as expensive rather than reasonable (Nagle et al., 2010). In this case, we as the marketers,
would have to be attentive towards customers’ feedback.

Increased Promotional Activities

In many ways, increased promotional activities would project our appearance and existence to the market, bringing in

potential customers who would then raise our market share in the industry (Thakur, 2021). Nowadays, companies and

marketers would creatively promote their products and services not only in traditional ways such as newspapers, radio,

and social media as stand-alone advertisements but also incorporating it into movies and variety shows, products that

tell stories like every Petronas ad, celebrity endorsements and ambassadorships - where popular stars are made the

‘face’ of the product such as Jisoo from Blackpink of Dior, community engagement on social media via challenges on Tik

Tok, etc. All of these methods are significantly shown in China’s market and we plan to adopt similar promotional

activities for our franchise, in which we would utilize all available social media platforms to promote our services and to

engage our audiences, namely CYHS Website, WeChat, Weibo, Tik Tok (Douyin), Xiao Hong Shu, etc. Secondly, we

have plans to endorse a famous celebrity known as Yang Mi. Our purposes of choosing her are simple - she has a large
（带货女王）and strong following (Morning Post, 2015), she is a social media influencer
known as the “new hot mom”
（新晋辣妈）(Fashion Sina, n.d.), and most importantly she is a woman. According to Forbes (2015), “women drive

70-80% of all consumer purchasing, through a combination of their buying power and influence” and that women have

a multiplier effect since they often buy not just for themselves, but the whole household. It is just like how the usual

ads feature women or mothers in household products and services ads (Gershon, 2017). In this regard, Yang Mi would

greatly help in boosting our company’s visibility as she attracts 02.
the female consumers.Third, we would like to sponsor reputable
variety shows which had experience in being sponsored by
household products such as the “Keep Running” TV show. In one
of their videos, one of the members of Keep Running was widely
recognized in his outdoor adventure, where most of his fans but
not exclusively, are middle-aged (in the video). This then
evidently and easily became our target segment. In addition,
Keep Running started to promote the development of the
industry in the new era, recently (Liang, 2021). If we could
promote our company on similar TV programs, we could reach
out to a massive potential consumers.

Strategies 2.4 Competitive Strategy: Marketing Strategy

Increased Services, Technology, 03.
and After-sales service

A business would not thrive if it is not up-to-trends. Hence, we
should be constantly improving by taking into account customer
feedback, both positive and negative. This is important as it
enables companies to continuously learn to cater to customer
preferences (Stoica & ÖZyirmidokuz, 2015). Additionally,
understanding what is pleasant, what is expected, and what
causes discontent to the customer is a significant component in
contributing to the success of a company in today’s highly

competitive market (Fundin & Bergman, 2003). Secondly, as we continue to have roots in the market, improving our
technology in terms of equipment, system - our mobile application, management, and professionalism through regular
training to our workforce, is undoubtedly a continuous requirement. By doing so, we would be able to maximize
productivity in our services (Thakur, 2021). Third, offering after-sales service. The after-sales service could be
performed in multiple ways, such as using surveys, reviews, and comments as it is generally underutilized (Oelke et al.,
2009). We would also be promoting feedback, both spoken(via hotline) and written through our mobile application
where each constructive review would be rewarded just like how Shopee rewards its consumers when their review
meets the requirements. Additionally, we would also be adopting an inclusive and accepting culture where we
prioritize every feedback by constructing personal replies to their distress. A good example would be Grab - they show
empathy in relating to the customer’s bad experience and are efficient in solving the customer’s distress. Last but not
least, we also plan to offer personalized after-sales service to our VIP members where our executives would contact
them personally. According to a survey by Evergage, it was shown that 96% of the respondents felt that the
experience has contributed to better customer relationships, 88% said that there is a positive difference in business
performance. While 61% mentioned that personalized services had enabled companies to offer a good experience to
the customers (Campos, 2021).

04. Branding

We would like to brand ourselves as an international brand that
delivers the utmost professionalism and superior services. In
making this possible, we would be hiring a diverse workforce,
providing additional quality training to our staff such as
etiquette lessons, self-protection lessons, language lessons,
etc., and soon we would be having another franchise in a place
outside of China. This is because international brands are
generally perceived as ‘higher quality and professional
(Tournois & Forterre, 2019).

3.0 Finance & Accounting

FINANCE &

ACCOUNTING

Financial Assumptions

As Shanghai CYHS is still in the planning process, the
accounting plans are made mainly by assumptions that have
been referred to the parent company, industry average and
other competitors’ reports, which are correlated to show
demonstrably figures. The estimated financial statements
have been prepared according to the general accounting
principles and necessarily included some details based on
reasonable estimation and judgment. The following sections
outline crucial financial information:

Financial Plan

According to our assiduous analysis, Shanghai CYHS is
expected to sustain a healthy financial position over the next
1.3 years. The following plans outline the financial
development of our newly formed franchise company,
including multi-year projections for income, cash flow, balance
statement, as well as the estimated financial and accounting
ratios. For business start-up funding, our financial choices will
be taking loans from the bank, and during the early stages of
establishment, paying off the debt will be given the highest
priority when in profit. The source to repay the loans will be the
cash flow generated from day to day business operations.
After an initial period of 1 year 3 months (15 months), the
company will experience growth and make further expansion.

On that occasion, it is envisioned that a bank loan or equity
funding will be sought to finance the new development, in
addition to retained earnings. During the early formation of
Shanghai CYHS, our franchise business will be closely
monitored by our parent company to ensure everything runs
smoothly, including the financial part. Unlike most CYHS
franchises in China, Shanghai CYHS will be more inclined
towards internationally, mostly for our tutors. As a result, the
cost and revenue of our business will be higher compared with
standard CYHS franchises.

Franchise Startup Cost

After consultation with our parent company, the following table (figure 5) shows the estimated expenditure
to establish their franchise business in China from tier 1 to tier 3 cities. The total set-up cost will differ
depending on the owner’s preferences. In our case, As our business will be hiring international tutors and
to be located in China’s tier 1 city- Shanghai, our total start-up cost will be ¥796,000 (Figure 6), which is
¥63,000 more expensive compared with the standard CYHS franchise cost due to high tutors’ salary and
better pay for our staffs (Figure 7).

加盟城市 一线城市（以广州为例） 二线城市（以合肥为例） 三线城市（以义乌为例）

Figure 5: The start-up cost of CYHS Franchise
Source: CYHS, 2021b

Shanghai CHYS Business Startup Costs

Figure 6: Estimated establishment cost for CYHS Shanghai
Source: Original

Staff Monthly Salary

Figure 7: Monthly staff salary A
Source: Original

Service Service Description Price

PRICING

Figure 8: Service Pricing for CYHS Shanghai
Source: Original

Since the development of the domestic service industry in China is still in its infancy stage, the pricing of
industry services does not have a standardized price. However, our company will follow the parent company’s
recommended charging method, which consists of two fees: a service fee and an agency fee. The following
table (figure 8) illustrates some of the services and its fees that will be provided by CYHS Shanghai. For your
information, services listed primarily (1), (2) and (5) will be the main source of revenue for our company.

Projected Profit and Loss

According to our parent company’s standard financial report (figure 9), we are expected to have a
minimum monthly net profit of ¥57800 if everything goes as planned for the first 2 years of
operation (Figure 10). However, as we establish and increase our customer base, the profit will
definitely increase over time with an estimated minimum growth of 2% every year (figure 11) based
on other CYHS franchises’ financial reports.

加盟城市 一线城市（以广州为例） 二线城市（以合肥为例） 三线城市（以义乌为例）

Figure 9: Expected Profit for CYHS franchises

Source: CYHS, 2021b

February 2022

Figure 10: 1-Month Projected P&L Statement
Source: Orginal

Figure 11: 5-Years Projected P&L Statement
Source: Orginal

LOAN To cover the cost of our business establishment, we have planned to get
ANALYSIS funding through bank loans from the Industrial and Commercial Bank of
China (ICBC). After inquiring about the lending, it is advisable that we pay
off the loan as soon as possible because of the lower interest rate
(CYHS,2021c). Judging from our conservative estimated financial
situation, we will be initially financed by an ¥800,000 15 month term
loan. Based on the amortization table (figure 12 & 13) and graph (Figure
14), the interest rate will be 4% annually, and we will be paying 95% of
our net profit, which is ¥54,766.60 to pay off the debt for the first 15
months.

Figure 13: Amortization Table Source: Orginal
Source: Orginal

Figure 12: Loan Table for CYHS Shanghai

Principal
3%

Interest
97%

Figure 14: Amortization Graph
Source: Orginal

To calculate the total interest rate paid for this loan, we will be using the formula shown in figure 15 to illustrate the calculation
on figure 13. For your information, the interest rate will be 0.04 (4%), the number of payments that year is 12 + 3. As for the
calculation demonstration, we will be using the 1st, 2nd and 3rd months as examples.

Amortizing Interest Formula

Figure 15 Amortizing Interest Formula
Source: Original

1st month: (0.04 ÷ 12) x ( ¥ 800,000) = ¥ 2,666.67
2nd month: (0.04 ÷ 12) x ( ¥ 747,900.07) = ¥ 2,493.00
3rd month: (0.04 ÷ 12) x ( ¥ 695,626.47) = ¥2,318.75
……

From the 1st month to the 15th month of the loan, the entire interest rate will cost us around ¥ 21,499.00, which is 2.6% of
the lending. As for the whole term loan, we will ultimately be paying ¥821,499 plus interest. Although it might seem like a
bad debt for our company, any loan that provides new avenues of income and creates a tangible asset whose value does
not decrease over time is considered good debt.

Projected Cash Flow

The cash flow forecast is one of

the essential financial tools as it

shows when we will run out of

cash essential to maintain the

operation of our business

(CYHS,2021a). Many companies,

even highly profitable ones, go

bankrupt due to having cash flow

deficiencies. That is why our

primary goal is to have sufficient

cash on hand to meet our

payment/loan obligations and be

prepared for unexpected money

needs. The projected cash flow

graph (figure 16) shows the

forecasted two years of our

business operation, assuming

everything is going well and no

unforeseen circumstances Figure 16: Forecast Cash Flow for CYHS Shanghai
Source: Original
happened. Our projection
Moreover, as projected, excess cash should not remain idle, especially during periods
indicates that our business can of high-interest rates. We will consider investing idle funds in time deposits,
corporate bonds or dividend-paying stocks to generate more cash for our business.
generate positive cash flow and

sufficient cash reserves in the

futureO. ur net profit is expected to increase a minimum of 2% every year; however, from January 2022 to March 2023, most of

our net profit will be used to pay off the bank loan initially used to fund our business startup cost, which is why our net

cash flow is increasing very slowly for the first 15 months. Thus, we have to pay extra care for the first 1.3 years of our

business operation as we have low cash. Nevertheless, we will obtain 100% ( Net profit = Net Cash Flow) of our net

profit by April 2023. The needs of a business constantly change, and our cash flow will highlight any shortfalls in cash

that will need to be bridged.

4.0 Management & Organizational Structure

MANAGEMENT &
ORGANIZATIONAL
STRUCTURE

Jimmy Chong

CEO & President

Dessydellya Jok Kin Koh Chi Jie

Chief Marketing Officer (CMO) Chief Financial Officer (CFO)

Lee Hui Ee(Kerry) Goh Hui Min Jestin Teng

Chief Communication Officer (CCO) Chief People Officer (CPO) Chief Operating Officer (COO)

SHANGHAI CYHS TEAM

Jimmy Chong

CEO & President

Analysing and recommending impacts,
long-term growth plans,
Planning and introducing new strategies
and regulatory actions.
Creating, improving, implementing and
enforcing organisational policies
Enhance the operational and financial
effectiveness of CYHS
Build credibility with the board throughout
the organisation as an effective developer
to solve business challenges.

Professional Experiences

Majoring in International Business
Served as Vice Campus Director of Xiamen University Malaysia Hult
Prize Committee 2021/22

Represented the school in its bid to host the Hult Prize
"Nobel Prize for students," the Hult Prize is one of the most
prestigious accelerator programs in the world
Led a team to invite lecturers from senior executives from
Chinese, American and international companies to share ideas,
business knowledge and help prepare for the competition
Rich leadership skills to lead the team
Adheres to the spirit of "leader create more leaders" to lead the
team
Attends international business events and forums
Understand and analyse the operation mode of different markets
especially in the household management field.
The essence of our motto is “Superior quality ensures superior
satisfaction”

SHANGHAI CYHS TEAM

Lee Hui Ee (Kerry)

Chief Communication Officer (CCO)

Managing and developing the CYHS brand
Ensuring public goodwill towards CYHS
Developing communication strategies to
convey corporate culture and business
strategy
Establishing a good relationship with
media representatives to maximise media
opportunities

Professional Experiences

Public Relations Representative in Student Council
Creative Designer in Rotaract Club
Multimedia Director in Law Club
XMUM Rrespentative in HSBC Business Case Competition

working together with her teammates from China, India and
Singapore
Good at international communication skills and how to work with
teammates from different cultural backgrounds to solve problems
Rich experience in cooperating with Chinese and international
students
Understands the communication mode of the global market
In-depth Chinese culture and business operation in China market
Able to promote the company to a large global market or cooperate
with more powerful international companies
Enhance the CYHS branch's reputation and prestige in the
competitive international market

SHANGHAI CYHS TEAM

Dessydellya Jok Kin

Chief Marketing Officer (CMO)

Planning, executing and overseeing all
marketing and advertising activities
Liaise with sales and public relations
teams to achieve goals
Develop and develop an internal marketing
team
Establish a reliable network of external
agents and marketing professionals—
conduct market research to understand the
positioning of competitor

Professional Experiences

Served as a consultant, vice president, secretary, public relations
and other positions at Astronomy Club, Business Association, First
Aid Society, Christian Fellowship and other business competitions
Work experience in different positions such as secretary, public
relations, media and design
Represents XMUM in various types of competitions, including M100
challenges, Bangkit Challenges, Dream Factory, and many more.
Rich market analysis and advertising skills
Strong awareness, analysis and decision-making ability in
international market analysis and consumer preferences
Researches business models primarily on homemaking topics,
having in-depth knowledge in this field

SHANGHAI CYHS TEAM

Goh Hui Min

Chief People Officer (CPO)

Planning and coordinating employees to
make the best use of their talents
Consult with employers to determine
needs and priority qualifications
Interview applicants for their experience,
education and skills
Contact references and conduct
background checks and inform the
applicant of job details
Hire or recommend qualified candidates
and design training to help employees
grow and improve work efficiency

Professional Experiences

Organising creative events, training and management courses. She
has worked as an event planner for the Youth Leadership Club and
Hult Prize
Office Administrative Assistant- specialises in helping the company
find the right talented employees and arrange interviews and
training on various career platforms
Remarkable ability to organise documents
Experience as a lecturer and has taken on the role of a teacher to
inspire children to learn
Assign exciting and creative assignments so that students can learn
more interestingly

SHANGHAI CYHS TEAM

Koh Chi Jie

Chief Financial Officer (CFO)

Driving the company's financial planning
Determining investment strategies by
taking into account cash and liquidity risk
Controlling and evaluating the
organisation's funding plans and capital
structure
Ensuring that cash flow is appropriate for
the organisation's operations

Professional Experiences

As an international business major, he has a good understanding of
China's financial and legal knowledge and forecasting methods
Good at analysing and sorting financial reports
Participated in different international entrepreneurship
competitions, such as Hult Prize, Dream Factory, and Internet+
Good at analysing the company's financial situation or the market,
stock investment, and calculation of company profits
Attended many professional courses and analysis meetings on
finance
Worked as an intern in a Chinese financial company to understand
the management and operation of China's financial market

SHANGHAI CYHS TEAM

Jestin Teng

Chief Operating Officer (COO)

CEO and other key executive team
members to drive the company's
performance from both operational and
financial perspectives
Work with CFO to achieve good financial
results in sales, profitability, cash flow,
M&A, systems, reporting and controls
Create practical measurement tools to
measure the efficiency and effectiveness of
internal and external processes
Cooperate with HR department to promote
CYHS training to improve staff's
professional level

Professional Experiences

General Affairs Committee in Rotaract Club of XMUM and Business
Association
Goals for short and long semesters for his Business Association
Successfully improved the work quality and efficiency of the
preparatory committee
Worked as an assistant to the operations manager in China Mobile
Company

gained a lot of experience and management skills
Participated in different business competitions

Hult Prize, M100 Challenge, and Internet+

PERSONNEL PLAN

During the pilot year phase, CYHS staff will be comprised of 6
founding members under the guidance of the consultant team at CYHS
franchisor. The six members will be ready to promote the CYHS 12-
Week training programme, including language, tutoring, caregiving,
housekeeping and other online domestic education courses.

Once our Shanghai CYHS officially opens, we will hire 8 professional
trainers to help train 30 employees and 8 tutors. As the company
grows, we aim to raise employees' salaries by at least 2% a year.
Besides, the number and professional level of the management will be
gradually increased to ensure that the company achieves the short-
term and long-term goals - become the best housekeeping services in
China and the benchmark of of Housekeeping services' in China.

CONSULTANT TEAM

Consultant Experiences
Liu Yuyin
Bai Lu Senior lecturer of China Youth Chain Headquarters; former state-
owned enterprises forAdmistrative Manager, School Office Director;
Wang Weibo Director of public relations Department, Household Management
Wang Honglin Trainer, Store Manager Training Program Director
Director of the Media Department in a cultural advertising company,
Colleen Carmarojas former Director of the Advertising Department in a magazine
company, former Sales Manager in Science and Technology
Development Co., LTD., Lecturer in The Training Department of
CHYS
Practicing lawyer, senior legal adviser of household management
industry, writer of common sense of the law of Home Economics
series textbooks of Nengjian Center of Ministry of Human
Resources and Social Security

Household Management trainer, former insurance Service
Department Director of China Family Service Association, Editor of
Family Health and Nursing. Years of front-line service and
management experience
Master of Business Administration. Chevron Holdings Inc. Finance
Shared Service Accountant, Chevron Financial Services Specialist
Citibank Financial Reporting Asia Unit Assistant Manager Financial
Associate, Citibank Asia

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CONTACT US

EMAIL LINKEDIN

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[email protected] WWW.LINKEDIN.COM/JESTIN-TENG-80B736220/
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