Master of Technology and Innovation Management (MTIM)

Semester 1, Session 2014/2015

MMJT 1023: BUSINESS PLANNING & ORGANIZING

Business Plan
Ready Cleaning Service

Nusaibah Roslan

MMJ141005

Sharifah Radhiah Syed Azman

MMJ141003

Lecturer: Mr Hiroyuki Ishizaki

Submission Date: 20 January 2015

Ready Cleaning Services

Business Plan
Lot 3/34 Jalan Haruan, Taman Oakland, Seremban.
06- 4355612 / 013-2482301

www.readycleaningservices.com

Nursaibah Roslan
013-36540408
ibah@readycleaning.com

Table of Content
No

Contents
Table of Content
Executive Summary
1.0
Mission, Vision & Value Statement
1.1 Tagline
1.2 Company Logo
2.0
Market Overview
2.1 Market Needs
2.2 Market Trends
3.0
Product Service and Business Outline
3.1 Background of the Company
3.2 Service
3.3 Insurance
3.4 SWOT Analysis
4.0
Existing Players
5.0
Differentiation Strategy
6.0
Business Model
6.1 Price
7.0
Production (Process & Procurement)
7.1 Service Request Process
7.2 Residential Services Process
7.3 Laundry Services Process
8.0
Marketing & Sales
9.0
Management Team
9.1 Ready Cleaning Service Organizational Chart
9.2 Personnel Management
9.3 Job Specification
9.4 Schedule of Remuneration
10.0 Financial Projection
10.1 Marketing budget
10.2 Acquisition of Machinery and Equipment
10.3 Operation overhead
10.4 Balanced Sheet
10.5 Sales Forecast
10.6 Income Statement
11.0 Investment and Return
11.1 Table of loan repayment
References

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Ready Cleaning Service

Executive Summary
Ready Cleaning Service is a startup residential cleaning service that aims to provide
customers with all residential cleaning services professionally, first class quality and with
convenient scheduling.
Services provided include cleaning of floors, windows, cabinets, dishes, laundry, furniture,
bedroom, and toilet. Besides residential cleaning, we also provide cleaning before or after
event; after they have thrown a party or when they are conducting an event.
The type of business is Private Ltd. and is owned by Nursaibah Roslan. Limited company is a
type of company which when set-up allows an entrepreneur to keep their own assets and
finances separate from the business itself.
Ready Cleaning Services target market is focusing in Seremban, Negeri Sembilan. Seremban
has the biggest number of house compared to others big cities in Negeri Sembilan which is
Port Dickson and Nilai. The market is growing due to increase of income per household. The
market is likely to maintain better than average growth due to the lifestyle of the people in
Seremban have developed within the decades, working longer and longer hours.
The effect of the longer work week is that people have less time to take care of the personal
maintenance responsibilities such as house cleaning. This service will save the customer time
and energy of doing the work. The customer has the benefit of enjoying a clean and attractive
home. The customer also has extra leisure time for entertaining guests, enjoying hobbies, or
any other activities.
The company will hire 13 staff with eight cleaners as the plan is to penetrate at least 10% of
the market in Seremban. The current market is 77 thousands household but the number are
expected to growth more than 20 thousand households. Each of staff has their own
responsiblities in order to keep the business running. Employees are vital components of
providing a professional, quality cleaning service; therefore, Ready Cleaning Services will
provide adequate pay to all employees.

For a start, the company may need of total RM 110 00 with debt financing of RM 50 000. The
loan proceeds will be utilized primarily in purchasing cleaning equipment & supplies, lease
payments, payroll, and additional working capital needs throughout the first year. Nursaibah
contributes her own money of RM 60 000. Ready Cleaning Services projects annual revenues
of RM 1,732,500 in Year 1 with operating expenses of RM 335,360.

1.0

Mission, Vision & Value Statement

Mission
To provide customers with all residential cleaning services professionally, first class
quality and convenient scheduling.
Vision

To create a clean and sustainable environment domestically

To provide a service based company that exceeding customers expectation
To be the best cleaning service company in Malaysia

Value Statement

Commitment
- Fully committed staff to provide a service that will satisfy the customers need
Security & Safety
- Serve to the clients with their safety comes first, in terms of their belongings
Customer need
- Provide services that beyond customers need

1.1

Tagline
Ready to clean, ready to shine

1.2

Company Logo

2.0

Market Overview

The cleaning industry provides a critical service to both individuals and commercial enterprises.
It requires hard work, professionalism and an awareness of evolving technologies and
information. It emphasizes the positive results of properly done commercial cleaning, which
include providing a safe, healthy indoor environment for people to work and helping people
avoid symptoms and illnesses caused by an unhealthy environment.
Cleaning service companies are increasingly forced to adapt to clients changing needs in the
face of economic difficulties. The industry needs to respond to fundamental requirements of
the society such as cleanliness, hygiene and protection of the environment. It represents, in
economic and social terms, one of the most dynamic areas of corporate services.
Ready cleaning services market focus in Seremban, Negeri Sembilan. Seremban has the
biggest number of house compared to others big cities in Negeri Sembilan which is Port
Dickson and Nilai. The market is growing due to increase of income per household. The
market is likely to maintain better than average growth due to the lifestyle of the people in
Seremban have developed within the decades, working longer and longer hours. The effect
of the longer work week is that people have less time to take care of the personal maintenance
responsibilities such as house cleaning. Instead, people will work and longer hours and pay
someone to take care of other, less important or less desirable

Negeri Sembilan Monthly Gross Household Income

5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0

4576
3336
2739

3540

2886
Negeri Sembilan Monthly
Gross Household Income

2002

2004

Negeri Sembilan Monthly

Gross Household Income (RM)

2007

2002
2739

2009

2012

2004
2886

2007
3336

2009
3540

2012
4576

Total Household
23,336
43,715
Port Dickson
Seremban
Nilai

77,367

Total Living Quarters

36120
62,792
Port Dickson
Seremban
Nilai

96,647

Port Dickson
Total Household
23,336
Total Living Quarters 36120

Seremban
77,367
96647

Nilai
43,715
62792

Seremban has the biggest number of households. the current market is 77 thousands
household but the number are expected to growth more than 20 thousand households.

2.1

Market Needs

Ready Cleaning Service is providing its customers with a professional, residential house
cleaning service, aimed at the upper echelon of the market. We seek to fulfil the following
benefits that are important to its customers.

Professionalism: All employees will be well trained to exude professionalism from all
of their actions and conversations.

Convenience: We will provide its services in the manner that is most convenient to
the customer, including arranging for visits when the owner is not home.

Trustworthiness: Many people have legitimate concerns regarding cleaning services

in their home and the possibility of theft and breakage. These concerns have been
eliminated or significantly reduced through a comprehensive screening and training
process for employees. Additionally, Ready carries insurance designed to cover any
loss that the customer may attribute to the company.

2.2

Market Trends

The market trend in house cleaning has shifted from individual service providers to companies.
Years ago, most families had a single housekeeper who was responsible for the cleaning of
their home(s). This individual was often considered a member of the family. Less and less
families these days are serviced by an individual housekeeper. The trend is moving toward
having a cleaning service come into the home weekly.
The residential cleaning demands are increasing due to dual income per household trend.
Nowadays, both spouses are working. The duration of working hour is about 45 hours per
week. They have tight schedule that they do not have enough time to maintain the house
cleanliness. When they are free from work, the time are used to rest, to spend with family or
going to holiday. They are less desire to spend the time to take care of personal maintenances
responsibility. Moreover, due to higher income, they are willing to pay someone to do the
maintenances for them.

3.0

Product Service and Business Outline

3.1

Background of the Company

Name of Business

Ready Cleaning Service

Business Address

Lot 3/34 Jalan Haruan, Taman Oakland,

Seremban

Contact Number

06- 4355612 / 013-2482301

Type of Business

Pvt. Ltd.

Main Activities

Residential Cleaning Service

Initial Capital

RM 100, 000

Since it is a startup company, the type of business is Private Ltd. and is owned by Nursaibah
Roslan. Limited company is a type of company which when set-up allows an entrepreneur to
keep their own assets and finances separate from the business itself. This means that people
who have invested in the business (the shareholders) are only responsible for any company
debts up-to the amount that they have invested and no more. It is therefore a good way for a
business to get investment without risk to a personal wealth.
3.2

Service

Ready Cleaning Service will provide a residential house cleaning service for the upper end of
the market. Services provided include cleaning of floors, windows, cabinets, dishes, laundry,
furniture, bedroom, and toilet. Besides residential cleaning, we also provide cleaning before
or after event; after they have thrown a party or when they are conducting an event.
This service will save the customer time and energy of doing the work. The customer has the
benefit of enjoying a clean and attractive home. The customer also has extra leisure time for
entertaining guests, enjoying hobbies, or any other activities.
3.3

Insurance

Since our service is high risk in terms of safety and security of the customers belonging, we
provide an insurance as assurance to the customers. In example if the employee accidentally
broke an expensive vase (which in the inevitable case that something is broken, RCS has
specific guidelines for the employee to follow to resolve the conflict) and pay the compensation.

 Cleaning
windows
Bedroom
Sanitation

Residential
Cleaning

Laundry
Service

Before/
After Event

3.4

Washing
Drying
Ironing
Folding

Preparation
before event
Clean up after
party

SWOT Analysis

The following SWOT analysis captures the key strengths and weaknesses within the company,
and describes the opportunities and threats facing by Ready Cleaning Service.

Strengths
Commitment to quality service
Dedication to customer satisfaction
Value seen in its employees
Convenient service schedule
Owner experience in the hospitality
industry

Weakness
Inherent time lag when building goodwill
and trust.

The difficulty of establishing brand equity

as a start-up company.

Limited resources

Opportunity
New market with unlimited opportunities
Market is showing consistent high
growth
Current trends: Working spouse, tight
schedule
No dominant cleaning services in
Seremban
No laundry services in other cleaning
services company
Threat
Low barriers for entry of competitors
Competitors may add Laundry service
in their line
Employee turnover

4.0

Existing Players

Features
No of maid
Maid gender
Office cleaning
Residential
cleaning
Package

Move in/out
Before/ after event
Vacuuming
Staircase cleaning
Laundry services
Cleaning Product
Promotion

Price

Location

Merry Maids
2
Female
No
Yes

H20 Cleaning
1
Female
Yes
Yes

Ready cleaning
2
Female/ male
No
Yes

One time
Weekly
Monthly
Yes
Yes
Yes
Yes
No
Yes
Website, FB,
Smartphone apps,
Magazine
One time-350
Moving-350
Monthly-1400
All Malaysia

One time
Monthly

One time
Weekly
Monthly
No
Yes
Yes
Yes
Yes
No
FB, flyers, brochure,
website

Yes
Yes
No
No
No
No
Website, Flyers

One time-100
Monthly-380
Moving-150
Selangor

One time-225
Monthly-850
Seremban

Currently there are two other main players in the cleaning service industry. However, we have
our own strength and market segmentation plus with our own differentiation.

Competitor
Merry Maid

H2O

Strength
High coverage
Brand acknowledgment
Sell cleaning product
Huge marketing effort
Cheap
Offer office cleaning

Weakness
Expensive
No laundry service

Only in Selangor
Take longer time to clean
No vacuuming and staircase
cleaning
No laundry service

10

5.0

Differentiation Strategy

Since the Ready Cleaning Service is not the pioneer of the cleaning service industry, we need
to have competitive edge that will make us different with the competitors.
1. Offering laundry service
While all the competitors are focusing on the cleaning, we RCS are happily to include
laundry service as part of our service. Mostly all household have laundry need to be
done and consume time. Sometimes there clothes that need separation and special
care, therefore all our employees are trained on how to do this tedious work.
Consequently our laundry service will help to ease their pain in washing, drying and
ironing. With the unpredictable weather forecast in Malaysia, RCS have a portable
dryer that easily dry the clothes and able to proceed with the folding.

Figure 1 Portable Dryer

Figure 2 Easy Top Folder

2. Training of good employees

Our competitive advantage will be based on our large investment in human capital.
RCS begins with a rigorous training program for new employees. At the outset,
employees with be trained on how to clean. Granted everyone has some idea on how
to clean, but we will show them a methodical way producing a far cleaner home more
efficiently. We will then be training employees to work effectively on teams. While there
are some households that prefer individual cleaners instead of a team, a request that
we are more than happy to oblige, we generally work in teams as they are more
efficient. Working efficiently on a team takes training, and through this team training,
we are able to make significant gains in efficiency.

11

3. Professionalism
We provide our employees the tools necessary to impress our most affluent clients.
Professionalism is a skill that is used throughout the service call, from the way the
employee greets and interacts with the client, to the way they clean, to the way they
act when unexpected thing happened. We finally train our employees to know what
the expectations of our clients are. We will provide them the tools needed to exceed
these expectations. There are times when clients request for female employees as
they think female work is more meticulous but with our well trained program, we can
ensure professionalism is our priority. We will also be creating the appearance of
professionalism through the use of uniforms and large magnetic sign affixed to the side
of the vehicles we use.

4. Environmentally sound chemicals products

Alongside with our vision which is to create a clean and sustainable environment
domestically; for our cleaning tools, we are using the environmentally sound
chemicals to keep both house and environment clean at the same time. Most of the
competitors did not mention what kind of cleaning products they use and therefore it is
an advantage to us.

5. Bond and Trust

With good service and extensive training, it enables to build trust relationship between
our company and the client. It is the bond of trust that will not only earn RCS the loyalty
of that customer but also the referral of several more of their friends. Happy customers
will spread the word of service providers that they are satisfied with. It is also part of
the viral marketing.

12

6.0

Business Model

Ready Cleaning Services will provide solution for working people, event organizer and people
who did not have enough time. Our business model is to sell time to customers so they can
use the cleaning time for other important thing.
Ready Cleaning Services will strive to build a reputation as the best of the best. This reputation
and relationships formed with clients will help the business grow through referrals and maintain
existing contracts. Direct sales and referrals will be vital to success.
Customers can directly get information about our services through our official website. They
can request for services via online ordering and phone call. We also use indirect methods to
spread our services such as through flyers, social media and word of mouth.
Ready cleaning service offer referral rewards to our customer. The customer will receive a
10% discount on their next cleaning when they refer a potential client to us. We also conduct
Guest Satisfaction Survey to know which part of our service that needs to be improved.

Company
(Ready Cleaning Service)

Flyers
Facebook

Company website/ Phone call

(Ready Cleaning Service)

6.1

Word of
mouth

Customers
working spouse
working individual
event organizer

Price
Flat/
Condominium

Per Room
Per Living Room
Per Kitchen
Per bathroom
Laundry
(Per cycle = 7 Kg)
Total

Single Storey

Double Storey

35
40
30
25

Bungalow
50
60
50
30

25
225 *

450**

*Standard house (3 rooms & 2 bathrooms, 1 laundry cycle)

** Standard bungalow (4 rooms, 3 bathrooms, 2 laundry cycle

13

7.0

Production (Process & Procurement)

PRODUCT DESCRIPTION
Residential cleaning
Laundry services
Marketing/ promotion
Software/ website
After service

PRODUCTION
Train maid, vacuum, mop, broom,
soap/detergent
Dryer, iron, washing machine,
soap/detergent
Phone call, website, mobile apps
Internet
Insurance/ compensation

1) Service Request Process

Customers call to our company or ordering online via official website

Brief the customers on the services available and discuss with them to
the price and services

Get agreement from customers and confirm the services.

Customer pay deposit

Deliver the products and gives services to the customers.

Customers make full the payment

14

2) Residential Services Process

Send employees to customers home.

Start cleaning living room, kitchen, bedroom and bathroom

Cleaning service complete

Site supervisor inspect the work from cleaners

Pick up employees

3) Laundry Services Process

Send employees to customers home

Weigh the laundry

Wash and dry the laundry

Folding and Ironing service

Service complete

15

8.0

Marketing & Sales

The sales process will begin through the qualification of leads generated from our marketing
campaign as follows:
1. Website
Besides the FB page, a website is crucial for business these days. With the Goggling of
information is widespread, RCS must take this opportunity so whenever users Google
cleaning service, Ready Cleaning Service will on top of the research list. A good website
must have all the information needed by customers, thus we will ensure that our website
is user-friendly and have a complete information. The website address must also be put
on our flyers.

Figure 3 Sample of Ready Cleaning Service webpage

2. Flyers
The marketing campaign will primarily generate leads through interest sparked from our
pamphlet& flyers. Someone will call to receive more information about our service, while
we will be able to give them an estimate over the phone, we would prefer to be able to get
into their home and speak with them. On one hand we would be able to offer them a more
accurate estimate. More importantly however, it provides us an opportunity to impress
them with our company.

16

3. Facebook
With the extensive usage of social media, Facebook is a good platform to boost income
and attract users. From the FB page, clients able to see directly what our business is all
about and they can also contact us via the comments or private message. From FB too,
the information is easily spread and good testimonial from satisfied customer will help to
attract new customers as the networking in FB is beyond imagination. We also provide
our FB page link in our flyers.

4. Magnetic Vehicle Sign

We used magnetic vehicle sign to be put on our van. While transporting workers to the
client home, other drivers on the road able to see our van and at the same time trigger
their interest of cleaning service. It is called passive marketing but effective.

Figure 4 Ready Cleaning Service Van

5. Business Card
A business card is essential to make yourself known. In this company, the CEO and the
Operational Manager use business card to be distributed among clients. A business card
is a tool for networking as it is convenience and able to increase awareness to people
about our company and service.

6. Viral Marketing
Through the spread word of mouth from happy customers, we will also be able to increase
more clients because people naturally like to share good things with their friends.

17

9.0

Management Team

9.1

Ready Cleaning Service Organizational Chart

General Manager

Admin Manager

Admin cum Finance

Clerk

Operational Manager

Marketing/ IT Manager

Site Supervisor/Driver

Cleaners

18

9.2

Personnel Management

Since it is a startup company, the owner will oversee all the operational with help of few expert
especially in finance and IT. We will be paying our employees a competitive wages, quite a bit
more than minimum wage. This is calculated to attract a much higher caliber employee that is not
looking for temporary employment, but a stable job environment. This is compounded by the fact
that in order to make our training cost effective for us, we need this person to be a part of the
company for an extended period of time, not just a few months until a better job comes along.
In addition to paying an above market wage, we will be offering extensive training. This personal
development will be another attraction for the high caliber employee. The need for the higher
class employee is necessitated because of the upper end clients that we serve. In order to exceed
the customer's expectations of our services, we need to have the right employee that has been
properly trained and feels a sense of empowerment on the job.
As the target location and segmentation are people in Seremban, therefore we would like to hire
a local so it will be convenient to them and closer to their home. We will advertise our job hiring
via the local community place like 7 eleven, the Seremban UTC and also through the newspaper.
9.3

Job Specification

POSITION
General Manager

MAIN TASK & RESPONSIBILITY

To plan, implement, and control the overall management of the

business.
To plan and monitor the strategic process of the business.
To be accountable for the overall performance of the business.
Approve the proposal.

Admin Manager

Update and maintain database with accurate client information.

Determine staffing requirements.
Hire and train new staff
To plan and oversee the accounting functions and financial
resources.
To calculate the budget of the company.
To make forecast and accounts for the company.
Calculate the loss and profit gained.
Management of staffs salary payment, bonuses and incentive,
EPF and SOCSO

19

To be responsible for service, inventory, and quality control.

Make sure the operation of the company is run smoothly.
Supervising and motivating a team of workers.
Monitor and assist staff with work progress.

Marketing/IT
Manager

Responsible in marketing strategies and campaign.

Develop and maintain the company website

Site Supervisor
/Driver

Responsible in supervising the work done by cleaners

Responsible with the transportation for the cleaners
Provide direct and indirect assistance to the Operation
Manager for inventories

Accountant cum
Admin Clerk

Calculate the companys financial budget, payroll and taxes.

Assist the Admin Manager
Responsible in maintaining the office

Cleaners

Responsible in cleaning of floors, windows, cabinets, dishes,

laundry, furniture, bedroom, and toilet of the clients
Responsible to please all the clients and provide good image
of the company.

Operation Manager

9.4

Schedule of Remuneration
No

RM per

of

worker

Monthly

EPF

SOCSO

Total

(11%)

(3%)

amount

staff

Annual

(RM)

General Manager

2000

2000

220

600

2820

33840

Admin Manager

1500

2000

165

600

2765

33180

Operational Manager

1500

1500

165

450

2115

25380

Marketing/IT Manager

1500

1600

165

480

2245

26940

Site supervisor/driver

1000

1000

110

300

1410

16920

Admin clerk

1000

1000

110

300

1410

16920

Cleaner

1000

8000

660

2400

11060

132720

Total

14

9500

17100

1595

5130

23825

285900

20

10.0

Financial Projection

10.1

Marketing budget

10.2

ITEMS

Price (RM)

Facebook ads

120

Flyers

4620

Magnetic vehicle sign

400

Website/blog

Total

5,140

Acquisition of Machinery and Equipment

a) List of Office Equipment and furniture
Items
Computer
Chair
Table
Meeting Table
Multifunction Laser
Printer
Stationery
Air Conditioner
Display Board
Steel Locker
Wooden rack
Telephone line
Total

Cost/Unit
(RM)
2,200.00
100.00
150.00
300.00
950.00

Quantity

Total
(RM)
3
15
6
1
1

6,600.00
1,500.00
900.00
300.00
950.00

1
3
3
2
1
1

500.00
2,100.00
300.00
740.00
200.00
100.00
14,190

Cost/unit (RM)
7

Quantity
5

Total (RM)
35

10
4
5
4
70
35

10
5
5
5
2
5

100
20
25
20
140
175

200
50

5
5

1000
250

500.00
700.00
100.00
370.00
200.00
100.00

b) List of Cleaning supplies

Items
Toilet Bowl Brush and
holder
Cleaning cloths
Window squeegee
Overhead dusting tools
Bowl cleaner
Detergent
Furniture polish for
wood
Portable dryer
Iron

21

Vacuum
Garbage plastic bag
Pail
Mop
Broom
Weigh machine
Glove
Window cleaner tablets
Total

200
6
8
6
5
50
5
5

5
10
5
10
5
5
3
5

1000
60
40
60
25
250
15
25
3,240

c) Office supplies
Items
Accessories/decoration
Business Card
Uniform
Total
10.3

Price (RM)
950
450
440
1840

Operation overhead
ITEMS

RM

Water and electricity

1,000.00

Telephone bills

1100.00

Repair and maintenance

3,500.00

Total

5,600.00

22

10.4

Balanced Sheet
Year 1 (RM)

ASSET
Current Assets:
Cash
Inventory
Prepaid Expenses
Notes Receivable
Total Current Assets

40000
3500
0
0
43500

Fixed Assets:
Office supplies
Vehicles
Furniture and Fixtures
Equipment
Building
Intangible asset (software)
Total Fixed Assets

1840
55000
2700
11,490
5400
300
74890

Total Assets

118,390

LIABILITY AND EQUITY

Current Liabilities:
Bank loan
Accounts Payable
Total Current Liabilities
Long-Term Liabilities:
Total Long-Term Liabilities

50,000
8390
58390
0
0

Total Liabilities

58390

Capital:
Owner's Equity
Total Capital

60,000
60,000

Total Liabilities and Capital

118,390

23

10.5

Sales Forecast

Total household: 77,000

Market penetration assumption: 10%
Revenue = 0.1x 77000 = 7700
10% bungalow

= 770 x 450 = 346500

90% Semi D

= 6930 x 225 = 1559250

Total revenue: 346500 + 1559250 = RM 1,905,750

COGS assumption: 10% of total revenue

10.6

Income Statement
Year 1
(RM)

Year 2
(RM)

Year 3
(RM)

Year 4
(RM)

Year 5
(RM)

Revenue
(-)Cost of goods sold
Gross profit

1,905,750 2001038
173250
181912.5
1,732,500 1819125

2201141
191008.1
2010133

2421255
200558.5
2220697

2784444
210586.5
2573857

(-) Sales and general

administrative
Rent and utilities
Business license
Business registration
Depreciation
Advertising
Insurance
Interest
Salary

12000
270
50
15200
5140
4800
12000
285900

12120
270
50
15200
5654
4800
12000
300195

12241.2
270
50
15200
6219.4
4800
12000
315204.8

12363.61
270
50
15200
6281.59
4800
12000
330965

12487.25
270
50
15200
6344.41
4800
12000
347513.2

335360
1,397,140
279286.3
1,117,854

350289
1,468,836
279286.3
1,189,550

365985.4
1,644,148
279286.3
1,364,861

381930.2
1,838,767
279286.3
1,559,480

398664.9
2,175,192
279286.3
1,895,906

Total expense
(Loss)/Profit before tax
Tax expense
(Loss)/Profit for the financial
year

24

11.0

Investment and Return

For this company, we plan to take out loan from local bank amounted of RM 50 000 with 6 %
interest rate.
11.1

Table of loan repayment

Total loan: RM 50,000

Interest rate: 6%
Loan period: 10 years (fixed rate)
Year
0
1
2
3
4
5
6
7
8
9
10

Principal

RM 5000
RM 5000
RM 5000
RM 5000
RM 5000
RM 5000
RM 5000
RM 5000
RM 5000
RM 5000

Interest

RM 3000
RM 3000
RM 3000
RM 3000
RM 3000
RM 3000
RM 3000
RM 3000
RM 3000
RM 3000

Annual
payment
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000
RM 8000

Principal
balance
RM 50,000
RM 45,000
RM 40,000
RM 35, 000
RM 30, 000
RM 25, 000
RM 20, 000
RM 15, 000
RM 10, 000
RM 5,000
0

25

References
Cleaning service marketing plan. (2015). Retrieved January 18, 2014 from
http://www.mplans.com/cleaning_service_marketing_plan/marketing_strategy_fc.php
Immaculate business plan. (20xx). Retrieved January 12, 2014 from
http://www.powerhomebiz.com/wp-content/uploads/2013/10/Business-Plan-Sample-CleaningService.pdf
Private limited features (2013) Retrieved January 12, 2014 from
http://blog.thecompanywarehouse.co.uk/2010/02/03/advantages-and-disadvantages-of-alimited-company/#sthash.ChkyC47U.dpuf
Portal Rasmi Jabatan Perangkaan Malaysia. (2015). Retrieved January 18, 2014 from
http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=2230&lang
=bm&Itemid=187
Sample service business plan. (2014) Retrieved January 12, 2014 from
http://www.entrepreneurfund.org/wp-content/uploads/2012/04/Sample-Service-BusinessPlan.pdf

26