MGT 368 Project Report
Team: The organizational Mavericks (Group 6)
Section: 1
Submitted to:
Shabab Absarul Islam
Lecturer, Department of
Management
School of Business & Economics, North South University
Submitted by:
Name
ID
Shah Ahmad Fayyaz
2131187630
Jarin Tasnim Chowdhury
2132468630
Aniqa Mahjabin Chowdhury
2132468630
MD. Arifuddoza
2132545630
MD. Tanvir Ahmed
1712039630
Letter of Transmittal
16th October 2023
Shabab Absarul Islam
Lecturer, Department of Management
School of Business and Economics
North South University
Subject: Submission of the Business Plan Proposal of “Bangla Bike rentals”
Dear Sir,
It is a great pleasure for us to be able to hand in the submission of the business plan
for our proposed startup, Bangla Bike rentals. This plan is the conclusion of the
understanding we have assembled from the relevant course, Entrepreneurship
(MGT 368) as well as sources from the Internet, Market Survey and your
continuous supervision.
Throughout the completeness of the time during which we concluded the plan, all
members of the group did their level best by thoroughly working on the sections of
the work we allocated among us. However, we are in the learning curve, this report
has enabled us to gain a better understanding about the niches and corners of
instigating a startup.
We thank you for your invaluable insight into assisting us in assessing the
probability of each section of the plan. We hope you will appreciate our hard work
and excuse the minor errors.
Sincerely,
Shah Ahmad Fayyaz
Md. Arifuddoza
Jarin Tasnim Chowdhury
Aniqa Mahjabin Chowdhury
Md. Tanvir Ahmed
Letter of Acknowledgement
The business plan for Bangla Bike Rental is the conclusion of not only a one
evening of brainchild but also the hard work and persistence of every single
member of the group as we tailed through providing evidence as per wished in the
given business plan skeleton.
Even though the plan is created for our university course report submission, we
guaranteed that our expectations are provide backing by real life actualities, with
the intention of presenting a realistic business plan of such a startup.
In our primary research, we have preferred to use a virtual assessment for the
resolution of appraising the demand for rental biking services in Bangladesh. For
our secondary research, we had designated to evaluate and make contrasts of alike
existing businesses in other countries.
It is to be detailed this is the business plan for the Startup, Bangal Bike Rental, as
offered by our group of Section 1 of MGT 368, Summer 2023. The participants of
the mentioned team are as follows.
Sincerely,
Shah Ahmad Fayyaz
Md. Arifuddoza
Aniqa Mahjabin Chowdhury
Jarin Tasnim Chowdhury
Md Tanvir Ahmed
Executive summary
Bangla Bike Rentals is a dynamic and innovative business venture founded by
partners Shah Ahmad Fayyaz, Md. Arifuddoza, Jarin Tasnim Chowdhury, Aniqa
Mahjabin Chowdhury, and Md. Tanvir Ahmed. Operating within the vibrant and
evolving landscape of Bangladesh, our company is at the forefront of the growing
rental bike system trend. With a focus on providing sustainable, affordable, and
convenient transportation solutions, Bangla Bike Rentals is poised to make a
significant impact in the region.
Our Mission:
Our mission is to revolutionize urban mobility in Bangladesh by offering an ecofriendly alternative to traditional transportation methods. We aim to alleviate
traffic congestion, reduce environmental pollution, and improve overall quality of
life for the people of Bangladesh.
Key Features:




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A modern fleet of well-maintained, eco-friendly bikes for rent.
Convenient booking options through a user-friendly app or website.
Affordable rental rates tailored to meet various customer needs.
A commitment to excellent customer service and the safety of our riders.
Flexible plans for both residents and tourists.
Bangla Bike Rentals aligns with the shift in cultural norms, economic
development, and environmental awareness in Bangladesh. By providing
sustainable and cost-effective transportation, our company contributes to the
government's efforts to combat air pollution and alleviate urban traffic bottlenecks.
We believe in fostering a brighter and cleaner future for Bangladesh.
As we embark on this exciting journey, we are committed to expanding our bike
rental network, creating new job opportunities, and advocating for eco-friendly
urban transportation practices. Our vision extends beyond profit; it's about making
a lasting impact on our community and environment.
Bangla Bike Rentals represents a pioneering force in modernizing urban
transportation in Bangladesh. We invite you to join us in this journey toward a
cleaner, greener, and more convenient way of getting around the vibrant cities of
our country. Together, we're redefining urban mobility, one ride at a time.
1.Introduction
Name and address of the business
The name of our company is Bangla bike rentals. We have carefully selected a
location for our startup considering every aspect, and the address is: 644, Block F
Bashundhara Dhaka.
Name(s) and address(s) of the principal(s):
Bnagla Bike Rental will be recognized under a general form of partnership. In total
we have five partners, who will be playing vital roles in the management team.
The list of the principals is shown below:
Name
Shah Ahmad Fayyaz
Md. Arifuddoza
Aniqa Mahjabin Chowdhury
Jarin Tasnim Chowdhury
MD Tanvir Ahmed
Address
580, West Nakhalpara, Tejgaon, Dhaka
714, West Nakhalpara, Tejgaon, Dhaka
4/18 Salimullah Road, Mohammadpur, Dhaka
644, Block F Bashundhara Dhaka
Nature of the business
Bangla Bike Rental is the first of its kind, set against a fast-developing Bangladesh.
We are pioneering an innovative solution for the changing needs of urban transport
in this region as a firm at the forefront of emerging trends in bike rental systems.
Our service stands out as a credible alternative to this time marked by change of
culture norms, economy developments and increasing concern for the environment.
Bangla Bike Rentals offers a solution to pressing problems of traffic congestion,
pollution and limitations on access to public transport in Bangladesh's cities that
plague them for years. The company plays an important role in encouraging
Bangladesh's commitment to combating air pollution, easing traffic congestion and
finally improving the whole quality of life for its citizens because it provides a
sustainable and cost-effective mode of transport.
Bangla Bike Rentals enables
the population to use an easy
and environmentally friendly
mode of transport in a country
that is becoming rapidly
urbanizing, which will help
reduce its negative impact on
the environment but also
contribute to greater
community wellbeing. We are
at the forefront of urban life's
wider shift, which will
position us as a catalyst in
modernizing transport systems
in Bangladesh through our
commitment to convenience
and sustainability. You'll learn
that Bangla Bike Rentals is
not only a business but an
instrument for positive change within the Bangladeshi city environment, as you
deepen your knowledge of this project.
Statement of the financing needed
The partners of Bangla Bike rental will need to sign an agreement for the financial
need to verify their ownership, owing to the sanctioned requirements in order to be
realized to launch the commerce. Legal Paper
work is required to cover the different types of
costs of the business. To cover those fixed
expenses and finish the legal requirements, we
will be needing a significant chunk of money
which we will bring about from the investments
of the partners in the amount of twelve lakhs, then
loan from bank will be twenty lakhs taka, and we
will have venture capitalist invest twenty lakhs
takas. Despite having revenues, we will be paying
back the money after five years
Statement of confidentiality of report
In our shared commitment to the success and security of Bangla Bike Rentals, we,
the partners - Fayyaz, Arifuddoza, Jarin, Aniqa, and Tanvir, hereby acknowledge
the importance of preserving the confidentiality of sensitive information related to
our business. Our commitment to protecting the company's strategy, finances and
business operations is underlined in this Statement of Confidentiality. The
prevention of any unauthorized disclosure and use of that confidential information
for personal benefit or harm to the
company shall be our joint responsibility.
We shall further promise to extend that
commitment to all persons associated with
Bangla Bike Rentals, maintaining its
capacity beyond our direct involvement in
the business. In keeping with these
principles, we jointly undertake to ensure
the long-term security and success of
Bangla Bike Rentals as well as future
stakeholders. Thus, the readers should come to an understanding not to reveal
whatsoever exposed in the business plan without the declaration of written consent
of the founders.
1.Business Model CANVAS
Key Partners
"Manufacturers of bicycles that are interested in renting" is one of the primary
categories of BanglaBike rentals' main partners. The partnerships are based on
mutual interests; bicycle manufacturers seek new sources of income and markets
while BanglaBike Rentals seeks a diverse range of bicycles for its rental fleet.
BanglaBike Rentals ensures that it will be able to access a number of bicycle
models thanks to its cooperation with manufacturers wishing to rent their bicycles
from the company. To satisfy the varying preferences and needs of its customers, it
is essential to have such diversity. Moreover, as producers benefit from large
orders and longer duration relationships, such partnerships are often favorable in
terms of price and conditions. Such cooperation is therefore to ensure not only a
continuous supply of new and well-maintained bicycles but also an important
factor in the bicycle rental sector: cost effectiveness.
Equally significant among BanglaBike Rentals' key partners is the "Workshop
Ensuring Repairs of Bicycles." This local workshop shall be responsible for
protecting the good health of the rental fleet. It is not only customer satisfaction but
also security considerations that make it necessary to ensure the optimal conditions
of bicycles. In order to ensure timely repair, regular maintenance and stringent
checks, it is the responsibility of the workshop partner. The careful attention to
bicycle care provides clients with the safety and freedom of cycling experience that
they deserve. This service minimizes the time required to rent bicycles, a key
factor in increasing customer satisfaction and loyalty. In addition, this partnership
will give an indication of the company's commitment to customer security and
reflect positively on its reputation.
Another critical component of BanglaBike Rentals main partnerships is "Investors
for Business." These partners are playing a vital role in supporting the activities of
these undertakings financially. The financing plays an important role in obtaining
bicycles, establishing rental points and facilitating the expansion of businesses.
Lastly BanglaBike Rentals will be working with retailers to expand its fleet of
bicycles. This cooperation is good for both parties: retailers make a profit by
renting bikes, and firms gain diversity of bicycles without significant investments
which increase their competitiveness and market position.
Key activities:
BanglaBike Rental's service ethos is based on
exceptional customer support, ensuring timely
assistance and resolution of problems for its
customers. "Repairing bicycles to make them
usable" is an example of the company's commitment
to safety and quality, which emphasises routine
maintenance and repair in order to ensure that its
fleet remains safe and functional.
Furthermore, advocacy is integral to the company's mission, "working with
authorities to start a bike lane." BanglaBike Rentals has promoted the creation of
dedicated bike lanes through its partnerships with local authorities, which makes it
safer and easier for customers to get on their bikes.
In addition, the company ensures that its operations are monitored by "hiring field
workers" for observation. These staff play a vital role in keeping track of the
condition of bicycles, rental centres and customer interaction to ensure seamless
service as well as security.
Key Resources: A number of essential
resources have contributed to the
success of BanglaBike Rentals'
operations in Bangladesh, with a view
to providing an efficient and
sustainable bicycle rental service. The
employment of qualified staff to
manage a mobile app, the
establishment of effective distribution
points for collecting bicycles,
establishing specialised repair centres
and preserving sufficient
administration resources in line with
marketing, strategy planning and IT
infrastructure. Together, these
resources empower the company to
deliver a seamless rental experience, manage its distribution network effectively,
ensure bicycle quality and safety, and handle administrative and technological
functions efficiently.
Value Propositions: The value propositions
offered by BanglaBike Rentals are strong. By
offering a vehicle that is kind to the environment,
it promotes environmental awareness. One
important aspect that makes it budget-friendly is
affordability. At rental locations, accessible
bicycles are "Easily Available". By ensuring
"Convenient Use," the mobile app streamlines
rental processes. It is effective in crowded
environments and encourages a "Healthier Way of
Moving" through physical activity. Notably, it has
"0% Carbon Pollution," helping to make the
world greener. These ideas taken together make
cycling a viable, affordable, and accessible mode of transportation in Bangladesh.
Customer Relationship: BanglaBike Rentals is building customer relations
through a variety of strategies. Incentivizing and welcomeing new customers, it
provides a "starting voucher" service. The active involvement of consumers in the
social media platforms enables them to be informed and actively engaged, which
creates a sense of community. Feedback is to be taken into account by the
company and used for continuous improvement of services. Furthermore, high
customer satisfaction levels are maintained through a robust service provision and
prompt resolution of problems.
Customer Segments: BanglaBike Rentals caters to a variety of customer
segments. First, it provides a convenient and sustainable mobility option for
residents of the neighbourhoods where this system is in operation. In addition,
rental of bikes is a good way to explore the area and offers tourists and travelers
flexibility and cost effectiveness. In addition, it shall cooperate with businesses for
the purpose of serving its staff and provide an eco-friendly commuting solution.
This segmentation strategy ensures broad accessibility and relevance to various
customer groups.
Channel: BanglaBike Rentals has a direct strategy to
connect with its clients. First, the business provides a
website where customers can easily browse, make
reservations, and pay for bicycle rentals. Second,
consumers can pick up their leased bicycles from checkin/check-out points that are placed in strategic locations,
guaranteeing accessibility and usability. Through these
channels, the renting process is streamlined, making it
simple and effective for both tech-savvy customers and those who prefer physical
rental stations.
Cost Structure: The cost structure of BanglaBike Rentals is made up of several
crucial elements. First, there are the direct costs related to the fleet of bicycles,
which include the "Cost of Buying the Cycle." To provide a high-quality fleet, this
comprises the purchase, upkeep, and occasionally replacement of bicycles. Second,
the "Cost of Managing the Application of the Service" includes expenditures for
technological advancement, the creation of apps, and the upkeep of a user-friendly
platform for hassle-free rentals. Thirdly, the "Cost of Maintaining the Repair Shop"
is an expense incurred by the corporation to maintain the fleet's safety and
functionality. Finally, a range of "Other Running Costs" includes overhead costs
for marketing, general operations, and office and employee-related costs. These
costs are essential to ensure smooth day-to-day operations, deliver quality
customer service, and sustain the business's growth and impact in the bicycle rental
industry in Bangladesh.
Revenue Stream: BanglaBike Rentals makes money in a number of ways. The
first step is to gather "Daily Payments" from app users, which they may later
simply reload at nearby stores. A consistent money flow is guaranteed by this easy
payment approach. The business also uses online payment systems, such as bkash,
Upay, Rocket, and Nagad, to "Gather Money" from customers while providing a
variety of payment choices for user convenience. The company can sell outdated
bicycles from its fleet in "Old Bicycle Sales," recycling assets and possibly making
money. This is an additional source of income. Together, these sources of income
support the company's
financial stability and
expansion while also
addressing the various
payment preferences of
its clients.
Price Model of Banglabike Rental
Pricing modeling refers to the strategies
for determining the best pricing for your
products. Price models involve elements
such as the cost of manufacturing an
item, the customer's assessment of its
worth, and the type of product. We have
set our pricing model according to the
following steps as follows
1. Initial Rental Payment:
60 Taka (BDT) per hour
Full-day (24-hour) rate: 390 BDT
The entry-level rental price serves as the pricing model's foundation. It gives
customers a clear structure to comprehend the cost of renting a bicycle. Longer
leases are encouraged by tiered pricing based on duration. Renting for a full day,
for example, is less expensive than renting for a few hours.
2. Types of Bicycles:
Add 50% to the base rental rate for a premium bicycle.
Add 100% to the base rental rate for an electric bike.
BanglaBike Rentals can accommodate to a wide range of consumer preferences by
offering a selection of bicycles. Premium or electric bikes are priced pricier to
reflect their higher value and maintenance costs.
3. Membership Programs:
Monthly membership fee: 500 BDT (includes unlimited one-hour trips everyday).
Membership programs foster client loyalty and repeat business. The monthly
package, which costs 500 BDT, provides exceptional value to frequent users by
allowing them to take limitless short rides.
4. Special Offers & Discounts:
10% discount for parties of 5 or more
10% savings for students and seniors
Seasonal discounts (for example, 20% off during the monsoon season)
Customers are drawn in by special specials and discounts. Offering group
discounts, student and senior discounts, and seasonal promotions makes rentals
more desirable and accessible.
5. Deposit for Security:
500 BDT for standard bicycles
1,000 BDT for premium or e-bikes.
BanglaBike Rentals' bicycles are protected from damage or loss by security
deposits. The amount of the deposit varies depending on the type of bike hired,
reflecting the increased value and probable repair expenses of premium or electric
bikes.
6. Penalties for late returns:
60 BDT every hour that the bicycle is late.
Customers are incentivized to return bicycles on time, assuring availability for
future renters and reducing income loss.
7. Insurance (optional):
Optional insurance is available for 100 BDT per day.
Offering supplementary insurance gives clients piece of mind if their bike is
damaged or stolen. Renters may safeguard themselves and the rental firm for as
little as 100 BDT each day.
This comprehensive pricing strategy incorporates numerous tactics to appeal to a
wide consumer base while guaranteeing BanglaBike Rentals' business operations
in Bangladesh are profitable and sustainable.
Social Goal of Banglabike Rental
Social Goals of a business is created because to help the society which they are
doing their doing their business on and give something to them. A bicycle rental
firm, such as BanglaBike Rentals, can have numerous social purposes, such as
encouraging sustainable mobility, boosting public health, and positively
contributing to the local community. Some of the social goals that we would like to
cover up are as follows;
Promoting Sustainable Transportation: Promoting bicycle use as a mode of
transportation helps to reduce traffic congestion and air pollution in metropolitan
areas. The company's social objective might be to encourage environmentally
friendly transportation alternatives and lower the community's carbon impact.
Enhancing Public Health: Cycling is a low-impact type of exercise that improves
public health. BanglaBike Rentals can seek to boost public health by giving its
clients simple access to bicycles, which can encourage physical fitness and wellbeing.
Community Engagement: Through events, workshops, and collaborations with
schools and groups, the corporation may connect with the local community. This
can help to develop a feeling of community and encourage more people to use
bicycles for transportation and enjoyment.
Employment possibilities: Creating work in the local community while paying a
living wage and providing possibilities for advancement can be a social purpose.
Supporting employees' livelihoods adds to the general well-being of the
community.
Environmental Stewardship: Implementing eco-friendly practices, such as
recycling or using sustainable materials for bike maintenance, can align with social
and environmental goals.
Charitable Initiatives: As part of the social responsibility aims, a portion of
revenues might be set aside for charitable donations or community development
initiatives
Supporting Local Tourism: If BanglaBike Rentals operates in tourist locations
such as Cox Bazar and other parts of Bangladesh, one of its social goals would be
to improve the tourism experience. Providing tourists with inexpensive and easy
bicycle rentals helps them to discover local culture and sights in a more
environmentally friendly manner.
Sustainability
Sustainability is very important for any business. The market of Bangladesh is very
sustainable because people of Bangladesh spend a lot at transportation. Hence if
they have the opportunity to rent cheap price for cycle and travel most people
might be interested in using this mean of transport. This type of business is already
popular in western countries but not much so following the trend Bangladeshi
people will also use this platform as an easy mean of transport. To create
sustainability in the business we made some certain sustainability plan they are as
follows;
Using sustainable materials to do business: Using sustainable and recyclable
materials tfor signage, promotion, and office materials. Moreover, promoting the
use of reusable and recyclable materials for our service will allow us to grab
attention of consumers and do business in the society.
Waste reduction: minimizing the wastage will allow BnaglaBikes Rental to
reduce cost and be more productive. We can do that buy implementing recycling
programs in the rental station and many more.
Eco friendly maintenance: we can do that by using biodegradable and
environmentally friendly cleaning products, and properly dispose of or recycle old
bicycle parts and tires
Eco-friendly
Our business is probably one of the most eco-friendly transport business in
Bangladesh. This is because first of all, the firm promotes the usage of bicycles,
which are naturally eco-friendly. Bicycles emit no emissions, making them one of
the most ecologically friendly ways of transportation. BanglaBike Rentals helps to
reduce dependency on fossil fuel-powered automobiles by offering easy and
inexpensive access to bicycles, resulting in decreased greenhouse gas emissions
and air pollution in metropolitan areas.
In addition, encouraging people to cycle reduces traffic congestion. When more
people choose bicycles over
automobiles, the number of
vehicles on the road decreases.
This, in turn, decreases
automobile idle periods, which
can contribute to lower fuel
usage and emissions.
Bicycles are also extremely
energy-efficient, both during production and during operation. When compared to
powered vehicles, they use substantially less energy to generate and maintain. This
energy efficiency helps to the company's and its customers' lower carbon impact.
Furthermore, through promoting cycling, BanglaBike Rentals promotes physical
exercise. This not only improves people's health but also decreases the strain on
healthcare services. A healthy population produces less healthcare-related
emissions, which helps to keep the environment cleaner.
Lastly, Bicycles also have a lower infrastructural effect than motorized vehicles.
They wear less on roadways and demand less parking space, which can help to
reduce some of the environmental stressors associated with urban expansion.
Ethical
In today's corporate world, success is no longer
exclusively determined by monetary gains.
Companies are increasingly understanding the
need of ethical and environmental practices that
go beyond financial margins. BanglaBike
Rentals, a bicycle rental firm in Bangladesh,
believes that ethical business practices are
essential to promoting sustainable mobility and
improving the well-being of the local population.
Ethical considerations touch upon various
aspects of the company's functioning, fostering trust with customers, employees,
and the local community.
First and foremost, ethical employment practices are critical. It is critical to ensure
that all employees, from rental station employees to maintenance people, get
equitable salaries, benefits, and non-discriminatory recruiting practices. Promoting
diversity and inclusion in the workplace may also help to create a more ethical and
equitable working environment. Another ethical component is to provide
possibilities for skill development and career promotion inside the organization,
ensuring that
employees are not
only properly
rewarded but also have
the opportunity to
grow professionally.
Ethical practices are
necessary for the
protection of
customers' privacy and
data security. It is a
moral duty to protect
the data of customers
and their privacy by
means of strong data protection measures. In order to build trust and align with
ethical principles, it is necessary to obtain explicit consent for the collection and
use of customer data and to transparently communicate the use of customer data. It
is not only a legal requirement, but also an ethical imperative, to comply with data
protection laws and regulations.
Another core of BanglaBike Rentals' ethics system is the practice of Ethical
Marketing and Advertising. The company avoids misleading advertising and
ensures that its marketing materials accurately reflect its services and values in a
world where honesty and transparency are key. In strengthening trust and
credibility with its customer base, such a commitment to ethics in advertisement is
of great importance.
Furthermore, its commercial relationships with suppliers and partners are covered
by the company's ethical compass. With suppliers and partners that share ethical
and sustainable business practices BanglaBike Rentals is in regular contact with
them. The selection of partners is carefully assessed, taking account of factors such
as the existence of decent employment practices, environmental responsibility and
appropriate sourcing in order to expand a company's ethics footprint outside its
functional boundaries.
Business Environment Analysis
Future outlook and trends:
Given Bangladesh's rapid urbanization, growing traffic congestion, and growing
awareness of environmental sustainability, the country's rental bicycle industry has
a bright future. If we consider the traffic and sustainability parts, this rental bicycle
has a huge market in our country. Alternative and environmentally friendly
transportation methods are becoming more and more necessary as Bangladesh's
cities expand and suffer from worsening traffic congestion. Rental bicycles can
solve short-distance journeys, which will lessen the need for automobiles. On the
other hand, our country is increasingly focusing on environmental sustainability
and reducing air pollution. Rental bicycles align with this trend as an eco-friendly
mode of transportation, and consumers are likely to support businesses that
promote sustainability.
Pestel Analysis:
Political
Take Bangladesh's political stability into consideration. Long-term planning and
business continuity depend on a stable political climate. The Bangladesh National
Party (BNP) and the Awami League (AL) are the two main political parties in
Bangladesh. Since the 1990s, both of them have seen periods of governmental
dominance. The two countries, Bangladesh and India, are very close. Tourists from
Bangladesh make up the majority of visitors to India. It will be beneficial for us
that we will get tourists customers for our service. Besides, Bangladesh and the US
have long had good relations. For developing nations like us in terms of trade,
business, and resolving interregional problems would be so much easier.
Economical
Bangladesh's economy has a significant impact on our BanglaBike rentals. The
changes in the economy could have a long-term impact on our company. The way
we price our items will be impacted by the Bangladeshi economy's increasing rate
of inflation. Consumer purchasing power may be impacted, and the demand/supply
models for that economy may shift. The economic environment has many facets.
Our product demand may be impacted by unemployment rates and disposable
income. The government just increased pay rates, which is good news for our
company. persons now have more purchasing power, and more persons and
populations are likely to fall into our target market category. One of the sources of
funding for our company is business loans. It is quite advantageous for the firm to
maintain and run if the interest rate decreases. On the other hand, excessive interest
rates will not encourage borrowers to take out loans and grow their businesses. As
of 2022, Bangladesh's nominal (current) Gross Domestic Product (GDP) is
$460,201,000,000 (USD). In 2022, Bangladesh's real GDP (constant, inflationadjusted) was $222,726,000,000. These numbers are crucial to the expansion of
our company.
Social
These factors look at the social environment of the market and assess impacting
factors including sociological trends, demography, population statistics, etc. The
social environment in Bangladesh is made up of things like our regional culture,
fashion trends, public holidays, religious celebrations, and more. Bangladesh's
capital, Dhaka, is a heavily populated city. Our store's placement will serve a
sizable target market in the region. In Bangladesh, the humidity and temperature
are both extremely high. But more and more individuals are switching to cycling as
a result of the recent excessive traffic in the city. The younger generation, in
particular, is a large user of schools and coaching. Particularly in a big city like
Dhaka, Western culture heavily influences Bangladeshi culture. Everyone is
beginning to tolerate using bicycles more and more.
Technology
The pace of technological progress and advancement is extremely rapid today.
These factors relate to technology developments that may improve or worsen how
the market and industry function.
We'll have a division dedicated to research and development. The department's
duties include improving both the quality and comfort of the bicycles. They are
also in charge of incorporating technology advancements into our operational
system. We will have our websites where customers can rent bicycles according to
their date and time. Also for promotion and advertisement purposes, we are going
to use Facebook and other social media.
Environment
BanglaBike Rentals is eco-friendly and environmentally friendly. No harm to our
environment and also pollution will be less.
Legal
To conduct business in Bangladesh, we must have the legal framework established
by the Bangladeshi Constitution. The law requires that we protect the workers'
health and safety. In addition, we must resolve any issues relating to employees
and pay salaries and leave by it. A trade license and TIN (tax identification
number) are necessary for us to start up our business. To avoid any wrongdoing
and punishment for it, we must also uphold environmental rules and regulations.
Porter’s Five Forces
Threat of new entrants: People have a very high degree of entry-level capability in
our market. Since it is the new business in our country. The method is relatively
simple because getting started in the sector takes very little time and money. There
aren't any robust or long-lasting entry obstacles in Bangladesh. They can therefore
use this as an advantage to enter the market.
Threat of substitutes: Regular cycles that are sold at Bangshal and other retailers
can be used in place of our items. As we are offering a personalized alternative
alongside the standard bicycles, there is a good probability that people will accept
the novelty. The target market will primarily be made up of the younger
generation, who are constantly willing to try new things. The target market is
anticipated to value the distinctive qualities of our products.
Bargaining power of buyers: The buyer's bargaining power will be limited. There
will be a large number of clients, which will limit their ability to bargain. We won't
be under much threat from the client side because each order is anticipated to be
limited to one cycle for each customer. Given our store's location, switching to the
competition will be challenging and costly for customers.
Bargaining power of suppliers: Our raw materials will be supplied by a large
number of vendors. For a raw material supplier, there are a lot of alternatives, not
just a few. Most suppliers are small businesses, which further restricts the
supplier's ability to negotiate. The cost of switching from one supplier to another is
quite minimal. Due to the availability of alternatives, these small businesses have
little leverage in negotiations and are unable to raise their rates for us. In such
cases, we are capable of switching to different vendors.
Rivalry against existing competitors: We are launching a new product in the
market so there are no existing competitors for our business. However, it is simple
for rivals to duplicate our goods, which can spark a rivalry.
SWOT Analysis:
Strengths
•
Cutting-edge advertising.
•
Customizing the bicycle to
meet the specific needs of the
buyer.
•
Reduced labour expenses.
•
Management with solid
technical expertise on the product
and its requirements.
Weakness
•
Store by the roadside.
•
Limited to one particular
store only.
•
There isn't much place for assembly and exhibition room activities.
•
In the capacity to grow quickly and achieve economies of scale
Opportunities
•
The country is currently experiencing a bicycle trend.
•
The majority of the people in our target demographic are converting to
bicycles as a result of the increased traffic in Dhaka City.
•
Individuals' purchasing power is rising as a result of the expanding
economy.
Threats
•
The escalating price of basic resources.
•
A rise in labour costs as a result of inflation.
•
Due to low entry barriers, new competitors are entering the market,
increasing competition, and decreasing profitability.
Stake Holders Analysis: Our stakeholders are the people, organizations, or groups
that are interested in or concerned about our business. The acts of our organization
may have an impact on or be affected by stakeholders.
Customer: Customer connection is essential for this business because our goal
must be to lure repeat clients away from other sellers and toward us. The best
possible care must be used while providing after-sales services. Long-term
relationships are crucial in this industry since word-of-mouth marketing, which is
most successful in the bicycle sector, is done by customers. Our sales team will
treat customers kindly and cultivate enduring relationships.
Suppliers: To guarantee just-in-time delivery of goods, the suppliers must be kept
in close communication. To keep both parties motivated to make a profit,
negotiations must be conducted carefully. As previously said, large manufacturers
may be challenging to negotiate with because they have a significant advantage,
but this obstacle can be overcome using diplomatic measures.
Government: Taxes and VAT must be paid to the government by our company.
The government shutdown may potentially have an impact on how our firm
operates. Therefore, it is crucial to have strong connections with governmental
organizations like the National Board of Revenue (NBR).
Employees: We will only have two employees, and it will be our mission to
cultivate strong working relationships with them and win their loyalty to our
business. Frequent hiring would lead to inefficiency since new hires would take
longer to understand the nature of the business and would need more time to
acquire technical knowledge of the product and the market.
Potential clients: It is crucial to entice potential customers. Therefore, our
marketing campaigns and eye-catching packaging ought to be able to raise
awareness among potential buyers. Prospective clients are crucial for growing our
market share. Young individuals who frequently need bicycles are the main target
market for the business.
Industry and Market Forecast:
In recent years, the bicycle industry has expanded enormously. Two causes can be
linked to this expansion. First off, using a bicycle is a quick and convenient way to
avoid the terrible traffic in Dhaka. Second, the growth of some local organizations,
like BD Cyclists, has especially helped make bicycling a trend. After at least a
year, most riders would prefer to acquire new bicycles, and most would do so with
a budget of between BDT 10,000 and BDT 50,000. There are several cycling
organizations. The largest cycling organization, BD Cyclists, has emphasized
bicycles' positive effects on keeping a clean environment and riders' good health.
In less than 5 years, their Facebook group has grown to approximately 55,000
members, and they actively participate in rallies and weekly rides. The local
bicycle business offers excellent chances for newcomers to successfully grab
market share in a short period through targeted marketing strategies.
Form of ownership
Since this company lies between tiny and mid-sized firms, the ownership structure
has been maintained straightforwardly. We want to operate as a limited
partnership, where the equity partners will receive their due interests with no
control over the operations, while the equity shareholders will have the power to
play commanding roles in the company's daily operations. If the creditor chooses
an equity strategy, there are options for them to join the company as a partner.
4. Description of Ventures
Mission
Our mission at BanglaBike is to spark a change in urban mobility across
Bangladesh. We are committed to provide bicycle rental services that are easy,
economical, and extend beyond simple transportation. We want to bring about a
cultural change toward sustainable mobility that not only lessens traffic congestion
and pollution, but also develops community relationships and physical well-being.
Our goal is to increase everyone's access to and desire for cycling so that it has a
positive influence on the environment, public health, and everyone's quality of life
in our thriving cities. The reason of taking this business initiative is that firstly, our
country always seeks a for cheaper means of transportation hence this form of
transportation will give them a chance to enjoy traveling to places. Then to reduce
congestion of the roads is another reason of starting this business. Lastly the
Bangladesh have huge market for this service if it is properly used and set up for it.
Vision
We're trying to imagine a Bangladesh in which the sound of bicycle wheels is part
of urban life. BanglaBike will lay down a path for the future in which bicycles are
not just an ordinary mode of transport. We're committed to being at the forefront of
a bicycle revolution and working towards making an environment that is as clean,
safe and healthful as possible in cities. With strong cycling communities in all
areas, we want to be a pillar of eco friendly urban transport. We will influence a
future where cleaner air, active living and stronger community ties are the norm by
making affordable, accessible and environmentally responsible solutions. We're
changing not only the way people travel, but also the way they live, communicate,
and appreciate the beauty of Bangladesh's cities.
Our Service and product
The BanglaBike rental service provides an innovative and sustainable solution to
urban mobility that is set for a paradigm shift in the transport environment of
Bangladesh. The bicycle rental service is aimed at providing a sustainable, efficient
and accessible mode of transport. Our mission extends beyond mere transportation;
we aim to catalyze a paradigm shift towards a healthier, more eco-conscious, and
interconnected urban lifestyle.
Our mission at BanglaBike is to make it easy for riders to access bicycles, enabling
them to bypass the limitations of traditional commuting. The simple and intuitive
design of our mobile application makes it easier to rent bicycles, while the
strategically placed bicycle check points in every neighborhood ensure that bikes
are always present. Let's say goodbye to road congestion, excessive transportation
costs and environmental concerns.
BanglaBike Rentals is dedicated to accommodating your needs whether you're a
local resident looking for sustainable mobility, tourists exploring the scenic beauty
of our cities or businesses that are promoting ecofriendly commuting with their
staff. In order to contribute to a cleaner, more sustainable city environment,
embrace the benefits of cycling for convenience, affordability and health.
Our bicycles, which can be rented through our website and picked up at
checkpoints, are our main product. Our normal bikes and kids' bikes, which come
in different sizes, are among the 500 bicycles we have available throughout Dhaka
city. On early request, baby seats will also be given at no additional cost. When
necessary, these seats are simple to install and remove.
Our basic bicycles are excellent for getting around Dhaka or touring the nearby
tourist spots. Riders of all ages may utilize them comfortably and easily. For young
riders to enjoy safe riding, we also offer kids' bikes accessible. Within Bangla Bike
Rental's secure environment, children may explore and learn to ride bicycles. In
some of the key areas surrounding Dhaka city, we have roadside booths that serve
as checkpoints. Any of the stands offers bicycle rentals directly to our consumers.
Even pre-booking is possible through our website. Our typical rental periods are
one hour, exactly 24 hours, one week, and one month.
Size of the Business
We want to start a business that is technically very niche in Dhaka as the means of
our transport is a rickshaw. So, by introducing rental bike system like our company
has a big market as the younger generation is tentatively more into this type of
things. This business is normally a service-oriented business hence we can say that
the costs can be minimized on some occasions but there risks there too. Moreover,
we proudly boast an impressive fleet of 500 bicycles strategically stationed across
our vibrant capital city, Dhaka. In order to ensure that all citizens, visitors and
businesses are easy to reach on our bicycles, we have a wide selection of renting
points throughout the city's main neighbourhoods and commercial areas. Our wide
reach will allow you to access BanglaBike stations at your doorstep, making
commuting a viable and affordable option in everyday life. Some of the important
neghbourhood are Bashundhara Residential Area, Gulshan, Banani, Mohakhali
Dohs and Banani Dohs. And we will observe all this from our main office in
Bashundhara Residential Area.
Office Equipment
As we are providing cycle as a form of product and service hence we would need
some office equipment around some of the things that we need for this business are
as follows
1. Bicycles: As the foundation of the company, maintaining a fleet of well-kept
bicycles is crucial.
2. Mobile Devices: Smartphones and tablets are used to track bicycles, manage
rental transactions, and provide customer service.
3. Computer(s): For operating the website or app, doing administrative duties, and
keeping crucial corporate data safe.
4. Office furniture: Workstations, chairs, and desks for your employees.
5. Printers and scanners: For handling receipts, paperwork, and legal records.
6. Point-of-sale system (POS): Used to handle payments and keep track of rental
transactions.
Security cameras are used to keep an eye on rental locations and deter theft and
vandalism.
8. Lockers: For safe keeping of locks, accessories, and helmets.
9. Repair Tools: A selection of maintenance tools and bicycle repair tools to make
sure your fleet remains in great condition.
10. Office supplies, such as paper, pens, stationery, and other little goods.
11. Racks and shelving for effective storage of locks, spare parts, and helmets.
12. Accounting software: used to manage finances, keep track of expenditures, and
provide reports.
13. Signage: At rental stations, this should provide rental pricing, instructions, and
safety precautions.
14. Marketing Materials: Posters, pamphlets, and other forms of advertising to
draw in clients.
15. client service software: For effectively managing client comments, questions,
and support.
16. GPS tracking devices for inventory control and location tracking of bicycles.
17. Tools and equipment for maintaining and repairing bicycles are available at the
bicycle repair business.
Background of entrepreneurs
Shah Ahmad Fayyaz
CEO, BanglaBike Rental
Fayyaz:
Our CEO of BanglaBike Rental, is pursuing his Finance & Accounting degree at
North South University. He is currently working as a head of marketing and
accounting at Sasha Corporation. Besides, he previously worked at Aspecious
(Youth Organization) as an operation. He has a strong intelligence in dealing
people and can hold his concerns in taking strong and audacious decisions for the
business. A high performing individual, showcasing drive, enthusiasm and
initiative, with the ability to work well under pressure, consistently delivering
quickly and accurately by maintaining a high standard of analysis and insight. She
leads every segment of the business and thus her role is incomparable.
Md. Arifuddoza
CFO, Banglabike Rental
Arifuddoza:
The CFO, Md. Arifuddoza, is majoring in Accounting and Economics at North
South University. He is also studying CA to be an aspiring auditor. His role is to
maintaining the books of the company, provide financial reports and, financing for
the entire operation.
Aniqa Mahjabin Chowdhury
CMO, Banglabike Rental
Aniqa Mahjabin
Our Chief Marketing Officer, Aniqa Mahjabin Chowdhury is an exceptional
individual. She is majoring in Marketing and International Business in North South
University. Her role in this company is immensely important contribution to the
marketing, branding and strategic development of Bangla Bike Rental
Jarin Tasnim Chowdhury
Head of logistics and HR director, Banglabike Rental
Jarin
Jarin Tasnim currently studying BBA, doing major in human resource management
at North South university. As a her Head of logistics and HR director
responsibilities are development hr plans and strategies to meet the goals, provide
all-over leadership and leading the managers and employees within the division.
MD Tanvir Ahmed
COO, Banglabike Rental
Tanvir:
Our COO Tanvir Ahmed, has always been a passionate and hardworking guy. He
did his major in Marketing from North South University and during his time at
North South University, he was a sub executive of north south university social
service club and worked as a volunteer for UNICEF. With his creativity and
experience in the marketing field, he oversees the ongoing business operations
within the company.
MARKETING PLAN:
CUSTOMER ANALYSIS: TARGET CUSTOMERS
The main two target customer segments of our company Bangla Bike Rental will be1. Commuters
2. Tourists and travelers
COMMUTERS:
This segment will consist of individuals who daily commute to their workplace, school, or other
destination. They travel a long distance every day between their home and workplace or
institution. Those are the people who need a cost-effective means of transportation around the
city. Age will not be a factor here as both the young generation and the older generation need
active recreation which will also be a means of low-impact exercise option. This platform will also
attract the environment enthusiast as cycling will be an eco-friendly transportation method.
TOURISTS AND TRAVELERS:
This segment will consist of visitors to the city and tourist destinations who will be looking for a
convenient way to explore the area. This will attract tourists and travelers looking for a cost
effective and eco friendly way of travelling around the tourist destinations of the city.
5. Marketing plan
CUSTOMER ANALYSIS: CUSTOMER NEEDS
Some key customer needs that Bangla Bike Rental aims to address and fulfil are
CONVENIENCE:
Customers look for easy and convenient ways of renting, whether in be through website reservation
or through strategically located roadside stands.

AFFORDABILITY:
Customers want cost effective means of transportation. Daily commuters like workers and students
would like a means that fits their budget.

SAFETY:
Customers seek for well maintained and secured transportation. Regular safety checks and
providing the safety gears like helmets and reflective vests can meet this need.

EASY PICKUP AND DROP OFF LOCATION:
By strategically planning the checkpoints to pick up and drop off the bicycles, customer needs can
be fulfilled. The preferrable rental locations are near transportation hubs, parks, residential area
checkpoints etc.

FLEXIBLE RENTAL DURATIONS:
Different customers have different duration preferences, providing various rentals hourly, for one
day, weekly, monthly are necessary.

ECO-FRIENDLY TRANSPORT:
With the growing demand for environment friendly transportation, riding a bicycle promotes
environment sustainability.
PRODUCT AND SERVICE DESCRIPTION:
At Bangla Bike Rental, we are enthusiastic about cycling and developing an active lifestyle.
Whether it be a daily commuter, a tourist or a group seeking adventure through cycling, our goal
is to provide them with convenient, affordable, and enjoyable cycling experience.
PRODUCT:
Our core product are our bicycles which will be available for renting through our website and for
check point collections. We have a total of 500 bicycles available around Dhaka city, which
includes our standard bikes and kids’ bikes, which are available in all sizes. Baby seats will be
provided too, on advance request with no additional charges. These seats can easily be installed
and removed upon necessity.
Our standard bicycles are perfect for commuting around Dhaka city or exploring tourist attractions
around the city. They are comfortable and easy to use for riders of all age. We also have kids’
bikes available for young riders to have a safe riding experience. Children can explore and learn
to ride bicycles within the safety of Bangla Bike Rental.
We have roadside stands acting as check points in some of the major locations around Dhaka city.
Our customers can rent bicycles on spot from any of those stands. They can even pre book through
our website. Our average rental durations are- on hourly basis, 24 hours exactly, weekly basis and
monthly basis.
SERVICE:
With bicycles being our product in hand, our main services would be our website, our mobile
delivery service and customer care service. Our rental company will be delivering bicycles to the
customers location, their home or workplace or any tourist spot. The mobile delivery system will
be available on our website to rent with additional delivery charges according to their location.
Our Facebook page will be available for customer service and promotions only. Our friendly and
knowledgeable staff will be available to answer the queries and concerns of our customers.
Maintenance services can also be requested in case of an accident or any emergency.
For security purposes a GPS tracking system is installed on every bicycle and could be tracked
down to its present location by Bangla Bike Rental team.
PRICING:
Our prices will be based on rental durations. The following is the pricing for Bangla Bike Rental.
PERCENTAGE OF
CATEGORY
DURATION
PRICE
CUSTOMER
ORDERING
1
HOURLY
60 BDT
40%
2
4 hours
150 BDT
20%
3
ONE DAY (24 HOURS)
390 BDT
15%
500 BDT per user
10%
Per min 1 BDT
15%
Membership monthly
4
(1hr ride everyday)
5
Minute charge
DISRIBUTION PLAN:
There are three main distribution channels of Bangla Bike Rental. They are-

WEBSITE: It is our main distribution channel. It is an easy-to-use online platform from
where people can select their location, time, and other necessary details to rent a bicycle.

SOCIAL MEDIA: With our unique and appealing marketing in social media, potential
customers will be directed to the website and eventually make a rental reservation.

DIRECT RENTALS: Through direct rentals our customers would be able to rent a bicycle
on spot when needed, this can increase our sales and popularity among potential customers.
ADVERTISING AND PROMOTION PLAN:
To promote our bike rental company effectively, we need to have unique value proposition,
targeting the right customer segment and using the right marketing mix.
SOCIAL MEDIA MARKETING:
We will maintain active social media profiles and engage with our audience through our social
media platform. Our social media platforms would be –
FACEBOOK, INSTAGRAM, AND LINKEDIN
FACEBOOK:
Our main social media platform would be our Facebook page. We will be sharing high quality
contents of our bicycles, highlight the affordability, convenience, and quality of our bicycles. We
will also share detailed information about the safety measures we follow, the satisfied customer
reviews, cycling routes and local attractions to grab attention and generate interest among our
potential customers. Through our Facebook page we will push our sponsored posts and visual
contents to gain popularity and as a means of advertising. We will actively respond to any query
all the time. Our customer care service will be available through our page.
INSTAGRAM:
Creative and interactive contents will be posted on our Instagram posts and stories. Stories and
posts with question-answer series for customers to engage better will be posted regularly. Paid
promotions with influencers and their trust in Bangla Bike Rental will be posted actively.
LINKEDIN:
We will use our LinkedIn page only to maintain a presence in the corporate and investor
community. Our presence in the corporate industry will help us seek attention for
Fundraising

Sponsorship

Key partnership

PR

Mentorship

Acknowledgement
WEBSITE AND ONLINE PRESENCE:
Our user-friendly website will provide information about our products and services, pricing list,
rental options, safety instructions, cycling routes and other necessary features. SEO Optimization
will help our online presence be more visible and attract riders to our website.
LOCAL PARTNERSHIP AND COLLABORATION:
We will establish a partnership contact with local tourist agencies, hotels, event organizers and
bike repair shops to promote our company and services. We will offer special discounts to
customers from these partners. We will offer our services for community events at a discount price.
We will partner with online cycle communities like “BdCyclists” for promotion. BdCyclists often
organize cycle rallies where a lot of cyclists go on tour for half day. We can sponsor one of these
rallies where they get to try our service.
REFERRAL AND DISCOUNT PROGRAMS:

We will offer special discounts or free rental hours to our existing customers for refereeing
their family or friends.

Regular customers will earn points with each rental which they can redeem for vouchers.

We will also offer limited time discounts on off seasons and special occasions.

Deal packages will be available for regular customers and group rentals.
CONTENT MARKETING:
We will collaborate with influencers and bloggers in the fitness and travel community to review
our product and services, and to make contents of our services to attract a broader segment of
customers. Informative posts and videos will be made, which will include the health benefits of
cycling, cycling routes, attracting places to visit and recreational lifestyle which can be achieved
through cycling.
CUSTOMER REVIEWS AND TESTIMONIALS:
We will encourage our customers to leave stories and reviews on our Facebook page and website
to build trust and credibility. And in the process will build a positive relationship with customers.
CUSTOMER SERVICE POLICIES:
Some strict customer service policies will be enforced by us. Some of them are
Rentals will only be confirmed when both parties agree to the terms and conditions.

Customers must provide the company with their NID number, Address, Contact info. and
other personal information necessary.

Customers must make the whole payment while they are handed the bicycles.

Customers must follow the safety instructions and traffic rules. Safety gears like helmets
and locks will be provided and must be in use.

The bicycles must be returned to the checkpoints on time and will be charged extra if not
returned within 30 minutes of end time.

Any inappropriate and misconduct from the on spot or customer service employees towards
the customers will be taken into immediate consideration after the complaint.

In case of any damage by accident, customers will not be charged extra.

In case of a lost bicycle, the customer must pay an amount and that customer will not be
served in the future.

Dismantle of the tracking device from the bicycle will be seen as an unlawful act and legal
action will be taken against the customer.
These are the service policies we will strictly follow to regulate a seamless and safe customer
experience. Moreover, our team will always be working on improving and adding policies for a
better customer experience.
6. Service Delivery Process
BanglaBike Rentals aims to provide customers with a hassle-free and
convenient bicycle rental service. The process begins with the booking of a
bicycle, which can be done through the company's website or mobile
application. Customers are required to select the type of bicycle they desire,
the duration of the rental, and the preferred pick-up location. Upon completion
of the reservation, customers are required to make a secure online payment.
A confirmation email containing a unique rental code is sent to the customer
upon payment confirmation.
To collect the bicycle, customers are required to visit the rental station
they selected and present the rental code or reservation details. Once the
bicycle is collected, customers can enjoy their rental period and monitor the
duration of their rental through the mobile application or provided timer. The
bicycles are regularly checked and maintained to ensure their safety and
functionality.
Upon completion of the rental period, customers are required to return the
bicycle to any of the rental stations and securely lock it up. The payment is
calculated based on the actual rental duration, and additional charges may
apply for late returns or premium bicycles. Customer feedback is highly
valued, and the company strives to improve its services continually. The
company adheres to data protection regulations to ensure the safety and
privacy of customer data.
In addition to providing bicycle rental services, BanglaBike Rentals is
committed to promoting cycling and building a strong community of riders.
The company organizes events, workshops, and collaborations to achieve this
goal. The company's ultimate objective is to provide customers with a safe,
convenient, and enjoyable bicycle rental experience. Customers are
encouraged to explore the city on a B BanglaBike and become part of the
community.
Physical plant
BanglaBike Rentals offers eco-friendly transportation options in Dhaka through a
network of accessible and strategically located facilities. The Rental Stations,
which are easily identifiable in various areas of the city, serve as the core of the
operation. Customers can conveniently locate the nearest station using the userfriendly mobile app to begin their cycling adventure.The Bashundhara office
serves as the operational center, overseeing reservations, customer support, and
day-to-day logistics. Recently renovated, the office ensures the smoothest service
possible. The Maintenance Space, staffed by skilled technicians who prioritize
safety and functionality, is responsible for keeping the bicycles in top condition.
To ensure the safety of the bicycles, a secure Storage Facility is monitored by a
dedicated security team, and each bike is equipped with GPS for real-time
tracking. The extensive Distribution Points network, consisting of nine locations
across Dhaka, provides easy access to the bicycles. These points serve not only as
stations but also as gateways to exploring the city. In addition to renting bicycles,
BanglaBike Rentals is committed to the community. The dedicated Training
Section conducts workshops and sessions to promote cycling, safety, and
community engagement.
Together, these facilities form the foundation of BanglaBike Rentals, which aims
to create a sustainable and interconnected community. Whether picking up a bike,
visiting the office, or attending a workshop, customers become part of the
BanglaBike family, contributing to a greener, healthier, and happier Dhaka.
Names of Suppliers of Raw Materials
BanglaBike is happy to work with Duranta Bicycle, a famous bicycle brand made
in Bangladesh. Duranta Bicycles are known for their great quality and are made by
Rangpur Metal Industries, which is part of the Pran-RFL Group. They make their
bikes in Hobigonj, which shows they care about local production and quality.
This partnership means we can give you the best bicycles for a great cycling
experience. We're also adding Gazi Tyre to our products, so your ride is smooth
and safe. We want to make your cycling adventures in Bangladesh fun and
memorable with Duranta Bicycle and Gazi Tyre.
7. Operational plan
Description of company’s operation: BanglaBike Rentals is a company that rents
bicycle for commuting in a local area. Customer will log on to the mobile app and
request for bicycle for commuting. Through our fleet of bikes, individuals will be
able to move through the congested streets in order to reduce their carbon
footprint. Our company is working to improve urban mobility and encouraging
green transport options throughout Bangladesh by offering simple booking and
flexible leasing arrangements. From our 5 stations in the city they can go arount
the designated places near each zone easily.
Action plan & timetable: Before launching its operation, the business has to
develop an app through which customers will order for the ride. They can set
which option they will want to take for their ride. There are several options to
choose from, whether to become a member or to book on hourwise.
Membership Programs:
i. Monthly membership fee: Customers will pay 500tk monthly
for a monthly membership. Membership programs foster client
loyalty and repeat business. The monthly package, which costs
500 BDT, provides exceptional value to frequent users by
allowing them to take limitless short rides.
ii. By The Hour: Customers can Book for cycles by the hour The
hourly rates are as follows:
1. One Hour: One hour would cost 60tk
2. 4-Hour: 4 hour would cost 150 tk
3. 24-Hour: 24 hour would cost 300tk
Flow of orders for goods and/or services:
 Customer Requests for cycle by
 App Locates nearby cycle
 customer enjoys ride
 Customer leaves it at a station
 Customer pays for the bike through Bkash or Nagod
Business location & requirements / advantages / lease details :
Coverage Area: Gulshan, Banani, Bashundhara, Mohkhali DOHS,
Baridhara DOHS
Office: Bashundhara Residential Area
The business will also partner with a local cycle shop from each area
for the servicing.
Technology utilization: Utilizing technology to the fullest will require to Improve
the following aspects:
 Location Accuracy
 Finding available bike thats not too far
 Introducing Pay later option
 Partnering with FoodPanda
 Introducing E-bike
R&D / environmental aspects:
 We will store sales data in order to analyze it and find any
patterns.
 We will conduct surveys and get suggestions from customers.
 We will use feedback system to get customer feedback
 We can also set up control group that will discuss about the
positive and negative aspects of the service.
Identification of Partners:
Even if the number of partners in this business plan is predetermined, the following
important factors will be taken into account if it becomes possible to add a new
partner or several new partners: Amount of investment.
1. Level of devotion to the enterprise.
2. Previous success in the same or a related industry of business.
3. The capacity to manage (if necessary).
4. Probability of risk aversion
The following people have been named as members of our company's board of
directors:
• Shah Ahmad Fayyaz
CEO, BanglaBike Rentals
• Md. Arifuddoza
CFO, BanglaBike Rentals
• Aniqa Mahjabin Chowdhury
CMO, BanglaBike Rentals
• Jarin Tasnim Chowdhury
Head of Logistics and HR Director, BanglaBike Rentals
• Md Tanvir Ahmed
Head of Operations, BanglaBike Rentals
Roles and responsibilities of member’s organization:
ROLES
I.
Name: Shah Ahmad Fayyaz
Position: Chief Executive Officer (CEO)
RESPONSIBILITIES
•
Putting a company's long- and short-term strategies into action.
•
Making daily management decisions.
•
Monitoring the performance of the various departments, and making daily
management decisions.
•
Identifying possible issues with the organization's aims and finding a
strategic solution.
•
Creating innovative and profitable business plans for the organization.
ROLES
II.
Name: Md Arifuddoza
Position: Chief Financial Officer
RESPONSIBILITIES
•
Creating tax and financial strategies.
•
Budgeting and capital management procedures.
•
Controlling the treasury, tax, and accounting departments.
•
Managing purchases through negotiation.
•
Directing the distribution of financial data.
ROLES
III.
Aniqa Mahjabin Chowdhury
Position: Chief Marketing Officer
RESPONSIBILITIES
•
Establishing and managing a marketing budget.
•
Coming up with and putting into practice risk-reduction measures; and
predicting sales.
•
Disclose sales information to the board of directors and stockholders.
•
Supervising the creation of new items.
•
Segmenting marketplaces and creating target markets.
•
Constructing various methods for various market segments.
ROLES
IV.
Jarin Tasnim Chowdhury
Position: Head of Logistics and HR director
RESPONSIBILITIES
•
Establishing connections with possible suppliers and customers.
•
In charge of overseeing all crucial HR procedures and initiatives.
•
Keeping in touch with the providers.
•
Keeping track of the costs that the vendors are charging.
•
Locating different approaches to the present supply chain constraints.
•
Keeping track of inventory and shipping expenses.
ROLES
V.
Md Tanvir Ahmed
Position: Head of Operations
RESPONSIBILITIES
•
Decision-making on the budget in coordination with the CEO.
•
Controls daily business processes related to sales, including leading and
supervising sales teams.
•
Creating long-term plans in coordination with the CEO.
•
Examining data from several divisions to identify inefficiencies.
•
Ensuring adequate funding allocation and payroll processing.
•
Carry out routine maintenance and repairs using a variety of mechanical
repair instruments typically found in a repair shop.
Authority of Principals
Since our firm is predominantly a private one, we do not yet have any issued
voting or non-voting stocks. This is because we intend to use a participative
management approach that involves the entire board. All board members shall
have equal authority to make important management and signing decisions in
terms of power and control. All our board members' signatures must appear on
official paperwork or documents. When capital is raised, all of the company's
shares will be divided equally among the shareholders and board members as the
first investment. However, it is imperative to remember that each of the board of
directors' positions (such as CEO, CFO, and so on) will have its duties and powers.
9. Human Resource Management Plan
ORGANOGRAM:
CEO
MARKETING
COORDINAT
E (WEBSITE)
MARKETING
COORDINAT
E (SOCIAL
MEDIA)
HEAD OF
LOGISTICS
HEAD OF
OPERATIONS
CMO
CUSTOMER
SERVICE
REPRESENTATIV
E
SALES
MANAGER
FLEET
MANAGER
MAINTENANC
E
AND HR
DIRECTOR
CFO
COORDINATE
HR
MANAGER
RENTAL
COORDINATO
R
HR
COORDINATO
R
RENTAL
STAFF
LOGISTICS
COORDINATO
R
SUBORDINAT
E
LOGISTICS
STAFF
Here is the organizational structure of Bangal Bike Rental. Skilled individuals will be working
under each vital department headed by the founding members of the company. This organized
HRM plan will be efficient in effective operation of Bengal Bike Rental.
KEY EMPLOYEES:
Although Bangal Bike Rental considers all its employees as assets, the company’s key personnels
are the CEO, CMO, Head of Operations, Head of Logistics, and the CFO. These five individuals
are skilled in their own respective fields and will happen to be the owner/shareholders of the
company. The customer service representative, fleet manager, the sales manager, HR manager are
the mentionable key employees of Bangal Bike Rental.
HR MANAGEMENT TEAM BACKGROUND:
DIRECTOR:

Double major degree in Human Resource Management and Supply Chain Management.

2 years of experience in HR Department of a well-established company.
Bangal Bike Rental’s human resource management team is directed by the Head of Logistics of
the company. This individual will be responsible for all the workforce management tasks like
hiring new employees, training and development, employee relation, employee benefits,
performance, and incentives etc.
HR MANAGER:
TALENT ACQUISITION AND RECRUITMENT:

Master’s degree in Human Resource Management

Experienced in talent acquisition and recruitment.
TRAINING AND DEVELOPMENT:

Certified professional in learning and performance (CPLP)

Previous experience in training and development programs
HR POLICIES AND PROCEDURES:

COMPENSATION AND BENEFITS:
Salary of the employees will be determined and paid on a fair scale. Employees will also
receive a fixed bonus on special occasions. The benefits an employee will receive has to
be clearly stated. Benefits like rides free of cost, treatment cost is paid by company in case
of on job injury etc. should be provided.

NONDISCRIMINATION AND ANTI-HARASSMENT CODE OF CONDUCT:
Set guidelines to code of conduct, prohibit discrimination and harassment against any
employee based on protected characteristics. Company should commit to providing equal
opportunities for employees of all gender, religion, age, disability, and race. Establish zero
tolerance against any misconduct, bullying and harassment against co-workers and
customers.

LEAVE AND OFF DAY:
All employees should be entitled to vacation and sick leave. Ten days of casual leave with
full wage in a year should be provided. Employees should be on off-day leave on all public
holidays with full wage. Employees should be entitled to fourteen days of paid sick leave
in a year. None of this would be accumulated onto the next year.

PARENTAL LEAVE:
Employees will have 4 months of maternity leave with fully paid benefits according to
Bangladesh Labor Law 2006. Male workers will be entitled to a week of parental leave
with fully paid benefits.

WORKPLACE HEALTH AND SAFETY:
Health checkup of every employee before hiring is mandatory. Employees must go through
regular health checkup every 3 months which would be paid by the company. Any potential
health hazards and accidents possible should be outlined for employees to be safe.
Guidelines on what to do during emergencies like fires, earthquake etc. should be provided.
Emergency fire exits and instruments like fire extinguisher and fire alarm must be installed.
10. Risk Management Plan
Risk Management
1. Hey there! Just wanted to give
you a heads-up about any possible
changes in the local regulations or
licensing requirements for bicycle
rentals. It's always good to stay
informed and make sure we're on
top of any updates!
b) Safety is our top priority, but accidents can happen. We just wanted to let you
know that in case of any accidents or injuries involving our rental bicycles,
we have legal liabilities covered. We want everyone to have a worry-free
experience!
c) We want to make sure you have the best experience with our rental bicycles,
so we're always on top of maintenance and repair issues. Customer
satisfaction and safety are our top priorities!
d) Sometimes, supply chain disruptions can affect the availability of bicycle
parts or accessories. We're doing our best to minimize any impact on our
service and ensure you have everything you need for a great ride!
e) Your privacy matters to us! We take data protection and privacy regulations
seriously, especially when it comes to collecting customer information. Rest
assured, your data is safe with us!
f) We're all about making things easy for you, but sometimes technical failures
happen. If you ever encounter any issues with our mobile app, booking
system, or payment processing, just let us know and we'll sort it out ASAP!
g) Mother Nature can be unpredictable! Extreme weather conditions may impact
bicycle usage and maintenance. We'll keep you updated on any changes and
make sure you're well informed about any potential disruptions.
h) Risks Associated with The Business
1. Local regulations or licensing requirements for bicycle
rentals may change.
2. Accidents or injuries involving rental bicycles may result
in legal liabilities.
3. If you collect customer information, you must comply
with data protection and privacy regulations.
4. Bicycle maintenance and repair issues can lead to
customer dissatisfaction or accidents.
5. Supply chain disruptions may affect the availability of
bicycle parts or accessories.
6. Technical failures, such as problems with the mobile app,
booking system, or payment processing, may occur.
i) Employees who need to visit remote rental stations may face safety and
security risks.
j) Extreme weather conditions can impact bicycle usage and maintenance.
k) Environmental hazards like floods, cyclones, or other natural disasters may
damage or destroy bicycles.
l) Other bicycle rental businesses may pose increased competition.
11. Financial Plan
Expenses
2024
Capital Expenditure
Cost of all cycles
App Development Cost
Cycle stand
Office Furniture
Trademark
Total
2025
2026
2027
2028
৳3,250,000 ৳1,950,000
৳40,000
৳0
৳110,000
৳88,000
৳1,000,000
৳0
৳15,000
৳0
৳4,415,000 ৳2,038,000
৳260,000
৳0
৳132,000
৳0
৳0
৳392,000
৳65,000
৳0
৳121,000
৳0
৳0
৳186,000
৳65,000
৳0
৳110,000
৳0
৳0
৳175,000
Cost of sales:
৳288,000
৳288,000
৳336,000
৳336,000
৳360,000
App maintenance
Office workers salaries (Includes call
৳96,000
৳120,000
৳144,000
৳240,000
৳240,000
center)
৳288,000
৳288,000
৳288,000
৳288,000
৳288,000
Security System
৳120,000
৳120,000
৳120,000
৳120,000
৳120,000
Supplies
৳36,000
৳36,000
৳36,000
৳36,000
৳36,000
Utilities cost
৳540,000
৳540,000
৳540,000
৳540,000
৳540,000
Rent cost
৳3,000,000 ৳1,500,000 ৳1,500,000 ৳2,000,000 ৳2,000,000
Marketing cost
৳60,000
৳60,000
৳60,000
৳60,000
৳60,000
Cycle maintenance monthly fee
৳120,000
৳120,000
৳120,000
৳120,000
৳120,000
Miscellenous Cost
৳661,000
৳788,800
৳845,200
৳857,100
৳869,000
Depreciation
৳15,000
৳25,000
৳27,500
৳27,500
৳27,500
Spare parts expense
Cost of sales: ৳5,224,000 ৳3,885,800 ৳4,016,700 ৳4,624,600 ৳4,660,500
৳14,054,000 ৳7,961,800 ৳4,800,700 ৳4,996,600 ৳5,010,500
Total
Sales Forecast
One Hour
4-Hour
Per Unit
2024
50
150
৳4,500,000
৳1,890,000
Forecasted Sale
2025
2026
৳9,000,000
৳2,430,000
৳9,000,000
৳2,430,000
2027
2028
৳9,900,000
৳2,700,000
৳9,900,000
৳2,700,000
24-Hour
Per minute
Membership
300
1
500
৳28,800
৳1,800,000
৳5,000
৳8,223,800
৳36,000
৳2,160,000
৳7,500
৳13,633,500
৳36,000
৳2,304,000
৳25,000
৳13,795,000
৳43,200
৳2,340,000
৳50,000
৳15,033,200
৳43,200
৳2,376,000
৳100,000
৳15,119,200
Income Statement
Sales Revenue
-Expenses
Earning Before Interest and
Tax(EBIT)
Interest Expense
Earning Before Tax (EBT)
Tax Expense (30%)
Net Income
2024
2025
2026
৳8,223,800 ৳13,633,500 ৳13,795,000
৳5,224,000 ৳3,885,800 ৳4,016,700
৳2,999,800
৳150,000
৳2,849,800
৳854,940
৳1,994,860
৳9,747,700
150000
৳9,597,700
৳2,879,310
৳6,718,390
2027
৳15,033,200
৳4,624,600
2028
৳15,119,200
৳4,660,500
৳9,778,300 ৳10,408,600 ৳10,458,700
৳150,000
৳150,000
150000
৳9,628,300 ৳10,258,600 ৳10,308,700
৳2,888,490
৳3,077,580
৳3,092,610
৳6,739,810 ৳7,181,020 ৳7,216,090
Retained earnings
Retained Earnings
2024
Beginning Retained
Earnings
+Net Income
Earning available to
Shareholders
-Dividend Paid
Ending Retained Earnings
0
৳1,994,86
0
৳1,994,86
0
৳398,972
৳1,595,88
8
2025
৳1,595,88
8
৳6,718,39
0
৳8,314,27
8
৳1,662,85
6
৳6,651,42
2
2026
৳6,651,42
2
৳6,739,81
0
৳13,391,2
32
৳2,678,24
6
৳10,712,9
86
2027
৳10,712,9
86
৳7,181,02
0
৳17,894,0
06
৳3,578,80
1
৳14,315,2
05
2028
৳14,315,2
05
৳7,216,09
0
৳21,531,2
95
৳4,306,25
9
৳17,225,0
36
Balance Sheet
Current Asset
Cash
Accounts Receivable
Total CA
Fixed Asset
Cycle (-Depreciation)
Cycle Stands(-Depreciation)
App
Office Furniture
Trademark
Total FA
2024
2025
Asset
2026
2027
2028
৳8,240,860
৳161,904
৳8,402,764
৳13,710,050
৳1,049,376
৳14,759,426
৳20,903,060
৳1,323,086
৳22,226,146
৳28,755,180
৳1,441,032
৳30,196,212
৳36,665,270
৳726,292
৳37,391,562
৳2,600,000
৳3,770,000
৳3,198,000
৳2,418,000
৳1,625,000
৳99,000
৳68,200
৳99,000
৳75,900
৳53,900
৳40,000
৳40,000
৳40,000
৳40,000
৳40,000
৳1,000,000
৳1,000,000
৳1,000,000
৳1,000,000
৳1,000,000
৳15,000
৳15,000
৳15,000
৳15,000
৳15,000
৳3,754,000
৳4,893,200
৳4,352,000
৳3,548,900
৳2,733,900
৳12,156,764 ৳19,652,626 ৳26,578,146 ৳33,745,112 ৳40,125,462
Liability
Current Liability
Accounts Payable
Unearned Revenue
Total CL
Fixed Liability
Venture Capitalist’s Debt
Bank Loan
Total FL
Shareholders Equity
Capital
Retained Earnings
৳336,526
৳224,350
৳560,876
৳1,800,722
৳1,200,481
৳3,001,204
৳3,519,096
৳2,346,064
৳5,865,160
৳5,657,944
৳3,771,963
৳9,429,907
৳7,740,256
৳5,160,170
৳12,900,426
৳1,000,000
৳1,000,000
৳2,000,000
৳1,000,000
৳1,000,000
৳2,000,000
৳1,000,000
৳1,000,000
৳2,000,000
৳1,000,000
৳1,000,000
৳2,000,000
৳1,000,000
৳1,000,000
৳2,000,000
৳8,000,000
৳1,595,888
৳9,595,888
৳8,000,000
৳6,651,422
৳14,651,422
৳8,000,000
৳10,712,986
৳18,712,986
৳8,000,000
৳14,315,205
৳22,315,205
৳8,000,000
৳17,225,036
৳25,225,036
Cash Flow
Net Income
Cash Flow from operating
activities
Depreciation
Cash Flow from Investing
Activities
Purchase of Cycle
Purchase of Cycle Stand
Development of App
Development
Purchase of Office
Furniture
Trademark Cost
Net Cashflow from
Investing Activity
Cash Flow from
Financing Activities
Debt
Capital
2024
৳1,994,860.00
2025
৳6,718,390.00
2026
৳6,739,810.00
2027
৳7,181,020.00
2028
৳7,216,090.00
৳661,000.00
৳2,655,860.00
৳788,800.00
৳7,507,190.00
৳845,200.00
৳7,585,010.00
৳857,100.00
৳8,038,120.00
৳869,000.00
৳8,085,090.00
৳3,250,000.00
-৳110,000.00
-৳40,000.00
৳1,950,000.00
-৳88,000.00
-৳260,000.00
-৳65,000.00
-৳65,000.00
-৳132,000.00
-৳121,000.00
-৳110,000.00
৳2,038,000.00
৳5,469,190.00
-৳392,000.00
-৳186,000.00
-৳175,000.00
৳7,193,010.00
৳7,852,120.00
৳7,910,090.00
৳0.00
৳0.00
৳0.00
৳0.00
৳5,469,190.00
৳8,240,860.00
৳7,193,010.00
৳13,710,050.0
0
৳20,903,060.0
0
৳7,852,120.00
৳20,903,060.0
0
৳28,755,180.0
0
৳7,910,090.00
৳28,755,180.0
0
৳36,665,270.0
0
৳1,000,000.00
-৳15,000.00
৳4,415,000.00
৳1,759,140.00
Net Cash Change
+Beginning Cash
৳2,000,000.00
৳8,000,000.00
৳10,000,000.0
0
৳8,240,860.00
৳0.00
Ending Cash at Hand
৳8,240,860.00
৳13,710,050.0
0
Capital Structure
Total
Capital
৳8,000,000
Capital
80%
Md. Arufuddoza
Jarin Tasnim
Aniqa Mahjabin
Md Tanvir
Venture Capitalist
Debt 20%
Bank Loan 8%
Venture Capitalist
7%
15.00% ৳1,200,000
15.00% ৳1,200,000
15.00% ৳1,200,000
15.00% ৳1,200,000
15.00% ৳1,200,000
75.00% ৳6,000,000
25.00% ৳2,000,000
100.00% ৳8,000,000
Interest
৳1,000,000
৳80,000
৳1,000,000
৳2,000,000
৳70,000
৳150,000
Assumptions:
1. App maintenance for 5 years is BDT24,000, BDT24,000, BDT28,000,
BDT28,000, BDT30,000
2. Office worker’s salary is avg BDT12,000
3. Monthly Security, Supply, Utilities, Rent are BDT 24000, 10000, 3000,
45000
4. Cycle maintenance monthly fee is 5000BDT
5. Depreciation for Cycle is 20% linear, and cycle stand is 10% linear
Performance Indicator
16
14
Current ratio
12
10
8
6
4
2
0
2024
2025
2026
2027
2028
Year
Current ratio:
We can see the current ratio is huge at first due to high cash. But as cash is utilized,
we can see a downward trend in Current ratio.
Interest Coverage
We can see an upward trend in Interest coverage. As our net profit increased,
Interest coverage saw a huge spike and an upward trend
Debt to equity
We can notice a steady growth in debt to equity. Since there is a slight increase in
accounts payable, the debt to ratio has an upward trend
ROI
ROI saw a similar growth as to interest coverage. This happened due to increase in
profit.
ROE
ROE saw an increase in second year. But later it saw a slight decline.
Asset Turnover
Asset Turnover saw a declining trend due to increasing asset.
Appendix
Letter of Investment:
From
Banglabike Rentals
17th October 2023
To
Eastern Bank,
100 Gulshan Avenue Dhaka-1212
Bangladesh
Subject: Proposal for investment
To whom it may concern
We've seen that you have a great reputation for being a crucial component of any new business
in Bangladesh. It is important to note the funding and assistance you give to companies that
turn unique concepts into successful products on the market. The foundation of BanglaBike
Rental's service concept is great customer care, which guarantees prompt assistance and
problem-solving for its clients. The company's dedication to safety and quality, emphasizes
routine maintenance and repair to ensure that its infrastructure remains secure as well as
functional. We anticipate receiving further funding from you shortly, which will enable us to run
our company profitably.
If we had the money to pay the staff and buy some equipment, we would have enough faith in
our ability to create a successful company that would yield great financial benefits to us both.
We hope to provide customers with a variety of services on bicycles with only a few clicks by
using Banglabike rentals. We have professionals on staff with years of expertise in the area.
Your investment will be split between paying for some expenses and promoting our website.
We see Eastern Bank Bangladesh as one of the country's most seasoned, reliable, and
reputable investors. If you would want additional information about our firm and where it is at
this time, we would be more than happy to share it with you.
Thank you for your time.
Sincerely,
Shah Ahmad Fayyaz
Md. Arifuddoza
Aniqa Mahjabin Chowdhury
Jarin Tasnim Chowdhury
Md Tanvir Ahmed
Market Research
Major Insights
1. Would you prefer riding a bicycle to go from one place to another place rather than sitting in
a traffic jam in a car?
5%
95%
Yes
No
2. Do you feel that you have so many options or available bicycle services in your city?
5%
15%
80%
Yes
No
Neutral
3. Will you accept the rental bicycle services online in your city?
3%
22%
75%
Yes
No
Maybe
Takeaways from the insights






Demand for rental bicycles is high.
For long-distance rides, some cyclists may prefer road bikes, while others may choose
mountain bikes for off-road excursions or hybrid bikes for commuting.
It has market demand in our market.
Evaluate the satisfaction levels regarding bike lanes and infrastructure in our service
area.
Being aware of so many motorbike accidents people are ready to travel by bicycle.
Our services can track their locations therefore this service is reliable for them and they
are accepting it.
Price List
Item
Unit price
Quantity
Total
1. Personal Computers
30000
5
150000
2. Office Table
4000
10
40000
3. Office Chair
2500
15
37500
4. Conference Table
5000
2
10000
5. Office Electronics
70000
6. Stationaries
30000
7. Air conditioners
100000
3
300000
8. Coffee Machine
10000
1
10000
9. Water filter
2500
2
5000
10. Refrigerator
70000
1
70000
11. Telephone
1200
2
2400
Bibliography
 https://www.statista.com/outlook/mmo/bicycles/bangladesh
 https://idlc.com/mbr/article.php?id=472
 Bangladesh - Bicycles and Other Cycles (Not Motorized) - Market Analysis, Forecast,
Size, Trends and Insights Please mention the Source:
https://www.indexbox.io/store/bangladesh-bicycles-and-other-cycles-not-motorizedmarket-analysis-forecast-size-trends-and-insights/
 PESTLE analysis (https://www.cipd.org/en/knowledge/factsheets/pestle-analysisfactsheet/#:~:text=A%20PESTLE%20analysis%20studies%20the,managers%20in%20st
rategic%20decision%2Dmaking)
https://www.thedailystar.net/tech-startup/news/jobike-bangladeshs-first-bicycle-rental-serviceset-return-3380136
https://www.thedailystar.net/business/start-ups/bicycle-rental-startup-jobike-plans-big-1603309
https://www.investopedia.com/articles/basics/10/guide-to-calculating-roi.asp