DANS Real Mart – The Ultimate Destination For Real Estate Services In Bayswater

Activities

The main objective of DANS Real Mart will be to sell, lease, buy and auction properties at reasonable costs. The company will be an exclusive destination that will involve all services and facilities regarding properties that is needed by the client (Wolff, 2007). The company will offer services regarding selling, purchasing and auctioning of properties and lands. The rental accommodation will be provided by the company. The company will provide assistance to client regarding land. The commercial and residential utilization of land will be assisted (Wang, 2011).

The whole business of the company will be managed and handle by four owners of the company. DANS Corporation will function in the building in which numerous functions will be performed. The office of the company will be located in Bayswater, yet online services will be offered as well. Four customers will manage whole business. Various agents and two receptionists will be recruited as well (Wang, 2006).

Activities	Costs ($)
Start-up cost Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	130500
Security bond	3000
Rent per month for the establishment	3200
Modern interior designs	9000
Office alliance equipment	9400
Cars	50000

Names of owners: The whole business will be managed by 4 managers. The names of these owners are Arsalan Iqbal, Daniyal Tariq, Nadeem Hassan, and Saud Althomali.

Details of management & ownership: Arsalan Iqbal will perform services of CEO. The remaining three owners will provide services of marketing manager, sales managers and operational manager. Daniyal will perform services of sales manager. Nadeem Hassan will perform services of operational managers. Saud Athomali will perform services of marketing manager. Each member will provide 25% of whole capital. The income will be distributed equally among all participants. Expected yearly turnover will be AUD 120000. Each participant will contribute AUD 30000. All participants will be accountable to CEO Arsalan Iqbal.  

Experience: All managers and personnel are required to have sufficient experience (Calantone, 2000). In order to provide services of CEO, Arsalan Iqbal have 5 years of experience. The sales manager, Daniyal, have three years of experience. The operational manager, Nadeem Hassan, have 3 years of experience. Saud Athomali have three years of experience in management. On the other hand, the personnel such as receptionists and agents are required to have 1 year of experience in retailing services. All managers and personnel will completely manage the whole system of the company. In order to provide quality service, the managers will manage each aspect excellently. 

Position	Pay (AU$)
Receptionist salary	3400
Bookkeeper salary	3500
Total labour cost including recruitment, training and development	300130

Setting up a business is not an easy task. The company is required to fulfill various tasks and responsibilities to complete all activities effectively. In order to initiate any business, the owners are required to consider the market situations and conditions of the country. For this purpose, opportunity analysis and situational analysis is considered essential. Assessment of industry assists the owners in managing the obstacles as well as issues that they will experience in future. The economy of Australia is constantly growing and developing (Kotler, Wong, Saunders and Armstrong 2005). The opportunities and prospects of real estate business are high. There is gradual decrease in the rates of inflation and unemployment. In 2015, the total Gross Domestic Product was recorded as AUD 1.62 trillion. However, there are chances of Australian Dollar fluctuation due to chance in mineral prices. A new organization mat experience issues of inner monetary incompetence, cyber insurgency, and safekeeping issues of food and energy (Clow and Baack 2007).

Keys to Success

It is the main objective of DANS to provide exclusive real estate services. The core mission of DANS Real Mart is to offer service of real estate in innovative communities of Bayswater. The company is providing services regarding title transfer, real estate and mortgage (Robeiro and Love 2003).

Keys to success are considered essential to achieve longer period objectives. The enduring and proficiency keys to success for DANS are:

• Maintain and form near association with housing real estate register facilities, as well as all other facility establishments that DANS utilizes like mortgage Service Company.
• To maintain an effective association with customers as well as making a well-established enduring association with customer to make frequent business as well as achieve an excellent goodwill
• To make an experience of exclusive service for customers of the company that involves
• Establish a comprehensive service experience for our clients that includes talk, appraisal, sale groundwork, public material, and transferring discussion, etc.

The objective for next three years for DANS are:

• Obtain a break even in next two years
• Complete as well as extend association with various mortgage service providers
• Make at least 100% rate of customer gratification to generate enduring associations with customers and generate word of mouth advertising

The company is required to comply with below mentioned requirements in order to do operations effectively and efficiently.

The name of our business “DANS” will be registered under the Australian Securities & Investment commission (ASIC). The registrations under Australian Securities & Investment commission (ASIC) is essential in order to operate business in all sectors and regions. The registration of name of business under Australian Securities & Investment commission (ASIC) is essential to do all operations effectively (Pickton and Broderick 2005)

The trading name of any business is considered essential for doing operations effectively. The registered trading name will be “DANS Real Mart”. All business activities will be handled and managed under this trading name.

Registration data is another essential requirement. The business is started operations from 1^st January 2017. The name of the company will be registered at Australian Securities & Investment commission (ASIC) at 1^st January 2017 (Management study guide .com, 2015)

Locations plays vital role for success and development of the company. The location must be competent and appealing. Head office of the business will be situated in Bayswater, Australia. Yet, the corporation will provide online trading services as well as will fulfill all order within time to boost customer service. Bayswater is considered best place for setting up business. The opportunities and prospects of real estate business are high in Bayswater. 

The business structure of the company is based on partnership. The company is Partnership Company. Four owners will equally participate in the business. The profit and loss will be distributed equally. This is partnership business and based on partnership. The company is service industry. The main objective of the company is to provide services.   

Australian business number is considered essential for starting a business. After registration, the ABN assigned to DANS is 09982977375. This is the Australian number. This is assigned after registration (Darling, 2001)

The registration of GST is also essential. The business attained GST after setting up the business. It is essential that company will pay 10% tax on all services provided and income received. The will not get registration under GST if the turnover of first year will be less than $75000. In case the turnover increases in first year, the company will get registration. In case of our business, the company will register for GST as the turnover will be more than AUS 120000 for 1^st year.   

Objectives for the Next Three Years

The domain name of the business should be unique and rare. In the case of our business, the domain name of our business will be “DANS Real Mart”.

All permits and licenses are considered essential for starting a business. For purpose of getting licenses and permits, the business will be registered under Australian Business Account. Registration under Australian Business Account is essential for getting permits and licenses.

DANS offers exclusive services of real estate, mortgage and title facilities to numerous consumers. Our business will has dominant position as premium seller of innovative and creative homes, condos, land for various buildings, and apartments of retirements. Additionally, our business will provide extensive variety of facilities to serve the buying as well as trading of real estate. The services of our company will include:

• Database of home search
• Consultation regarding mortgage as well as approval of loans
• Information about various aspects of land and community
• Transfer of title
• Getting an exclusive assessment of market for prospective sellers
• Evaluation
• Construction of property

Business will outsource various facilities and services. It involves the transfer of title, approval of advanced, assessment and evaluation of various services. The services of Thinkconveyancing.com.au® will be availed for title transfer purpose (Shaw, 2011). The services of JLL’s Mortgage Valuation service will be obtained for loan approval and mortgage services. JLL Melbourne Apartment Market Commentary contains complete information about real estate market. CoreLogic RP Data is used for assessing the market information comprehensively. All these corporations motivate autonomous agents to utilize their facilities as well as possess an established track record regarding services as well as affordability. Our business will select these companies as nominal amount of rent is charged by these companies for providing services. The monthly rate of these companies is limited. These rental charges are included in the statement of profit and loss account.

The main objective of DANS Real Estate is to assist the trader demonstrate an actual cost on their land and building. However, significant time is consumed during sales and purchase of services and facilities. It takes a lot of energy and time. So, the profit estimation is considered significantly essential for estimating the price. The value of property is considered essentially important. During purchase of property, the customer will considered numerous homes available for sale. The customer do complete market analysis. They want to purchase at best price. On the other hand, the seller want to achieve maximum best value for property and land. So, the pricing strategies must be comply with the core objective of the company. In this situation, the services of brokers are used to set most appropriate price. 

Registering the property at higher price as compared to recent market price provides an advantage of sales. In this situation, the ratio of profit margin increases. A high-priced household will suffer from deficiency of revelation, as well as the lengthier it rests on the marketplace the further problematic it will be to trade. Profit margin pricing strategy is used by DANS. The profit margin per sale will be 30% to 35%. The pricing strategies will move among 25% to 30 %. After getting significant market share, the skimming pricing strategy will be used by us to achieve more profit. In order to compete successfully, the cost-plus, penetration pricing and premium pricing strategy will be used by DANS in rare situations.  

Registration and Licensing Requirements

The core rivals of our company are Australian real estate investment trust, Lend Lease Communities, FKP (company), Goodman Group, Walker Corporation, and Dexus Property Group. These competitors are using skimming pricing strategies. The pricing strategy for our company will be profit generation and market analysis strategy. Differentiating services will be offered to compete in the greatly competitive market of real estate. 

For of serving of various markets where rivals are not proving services, our organization will offer services at reasonable prices. This strategy of serving niche markets is good to attain successful market share in the industry. The profit margin ratio will be high in markets where other competitors are not providing services.

The demand for housing projects and building is increasing as more people want to buy their own houses. In Bayswater, the demand for real estate is high as majority or people are living in rental departments. They want to buy their own houses. The demand for real estate is also high as people want to start their own business in reasonable priced land (Kenny, 2011).

The customer value is considered significantly essential for success and development of the company. The company will provide timely customer services in order to enhance the gratification of customers. The client will buy land and building frequently because of exclusive innovation and innovative services.

The industry of real estate is aggressive and competitive. Our business will operate successfully in highly aggressive market but the profitability growth of our business is high because of high demand of real estate. The services are innovative and creative (Ball, Coelho and Vilares 2006).   

The corporation will provide innovative and creative services. The trade marks for the company will be registered as a protection of trade marks. The logo of DANA Real Estate Company is registered under the Designs Act 2003 (Hazledine, 2010).

In order to protect the rights and privileges of employees, the business is required to follow various laws. The laws of OH&S and WHS laws are followed. The employees will be provided first aid, reimbursement and return to work cure in case of injuries.

Insurance of Public liability are offered in circumstances of daydreaming recommendation, dramatic misery as well as pure monetary disappointment occurred due to omission (Douglas, 2005)

The insurance of professional indemnity will be offered when violation of laws will occur or when monetary statements are prepared incorrectly. In case of inappropriate inspection, this indemnity will be offered.

Services Offered

When an accusation, deficiency or demonstrative desolation happen due to company’ merchandises, then our corporation will be accountable to offer product liability insurance.

Numerous legal consideration impact the business situation of our business. DANS Real Mart will be greatly impacted by Australian consumer law, Competition and consumer Act 2010, Anti-Money Laundering and Counter Terrorism Financing Act 2006 and Commerce Legislation. Various rules and regulations should be complied with various laws and regulations. The below mentioned taxes will impact the DANS business:

• An Australian Business Number
• GST
• Tax File Number
• PAYG

All companies are required to comply with Australian Privacy Principles and Privacy Act 1988. This act greatly impact the privacy of employees and management. Each business is required to comply with these rules and regulations (Garoufallou, 2012).

There are numerous laws used to handle the issues of harassment. Any disputes about victimization can be elucidated according to doctrines declared in Anti-Bullying guide. The concerns on the issue of employees’ well-being as well as safety can be committed according to Fair Work Commission.

Unimportant trade has numerous rules as well as regulations about unfair dismissal. The rules are mentioned under the Small Business Fair Dismissal Code.  

DANS will be focusing on various segments. The retirement market consists of individuals who are searching homes after getting retirements. The industry of retirements is constantly growing in last few years (Dixon, 2005). There is 25% of individuals who are above the age of 55. This percentage is still growing is last years. The services for retirements plan include homes, facilities of medical as well as other facilities. For this purpose, various small houses will be sold and purchased in order to facilitate the retried people. The other targeted segment is students who want their own houses in well-known places.

A comprehensive industry analysis is conducted in this regard. DANS thinks that highest issue at the time is new entries to the real estate industry who want to exploit on this highly competitive market. These new entries can be small companies with limited employees and workers. A new company can start business with limited capital as well because there is no requirement of extensive capital and additional staff members. There are various competitors exists in the economy. The level of profitability is low due to existence of various competitors and rivals. The market of real estate is high competitive and the competition in this industry is quite deep and instance. Various competitors are doing excellently in the market.

Pricing Strategies

The company is required to comply with several rules and regulations. It is responsibility of the company to fulfill numerous regulations for starting a business. The company is required to comply with several laws even after initiation of the business as well. The environmental situation for the business is good, as company is doing environmentally sustainable business. The social aspects are also beneficial. The trends and fashions of target markets are changing. They want their own houses at reasonable prices (Smith, 2004).  

The success and development of the company relies on the effective management of all resources and retaining loyal customers. Customer are considered the blood of any company. The core customers of our company will be:

Who are they?	Basic Customers of Company
Age	20-80 years old
Gender	Male as well as female
Profession	Students, retired people
Income level	High-income level and middle income level
Education	Highly and moderate qualified
Location	From any city in Australia
Personality	Quality conscious, high standard of living, family oriented

The main target market of DANS Company are individuals living in Bayswater and Blackburn. This city has majority of people with 18-80 years old. This proportion also includes student, families and retired people. Main target market are international student. The main objective of the company is to offer services to students and retired people (Sen, 2005). So, company will serve retired people and students who want apartments and houses for their own uses. 

Customer service is main priority of the company. The main objective of the company is to build friendly association among company and customers. The customers will be served in warm and friendly environment. They will be offered various discounts and bonuses on the basis of frequent purchase and sales. The customer will be provided 24/7 services. They can contact with company at any time without any hesitation or difficulty. Numerous packages will be offered during several occasions and events. Privacy laws and taxation laws will be implemented to entertain customers.

Promotional tools are considered essential to get desired objectives and goals. Various promotional strategies and tools will be used for advertising and sales purpose. The company will use combination of traditional media and new media in order to boost sales and income. The below strategies will be used by company to boost sales and income:

Use of latest techniques and technologies are considered essential for success and development of the company. The company is using social media and internet for promoting business. The ads are posted on the social media pages. On the other hand, the information regarding each and every factors will be described on website of the company as well. Strategy of E-commerce is considered best in this regard (Houben and Vanhoof 1999).

Utilization of traditional media and techniques is also essential. Various traditional media such as billboards, television, radio, and posters are used for advertising purpose. The company will post ads on various banners and billboards. These banners will be placed outside the office. 

Domestic newspapers are considered essential for advertising and promotion purpose. This is effective way of advertising as newspapers are read on daily basis by professional people. The company will provide complete information

Billboard is an effective way of advertising as people see these boards on regular basis during travel. DANS will use these board to promote the services of the company. The complete information regarding various services and contact information will be provided on these billboards (Adebisi, 2006)

Management of the company is responsible to manage all operations and activities effectively. The main activities and plans of the company will be arranged by managers. The goals and plans of the company will be made by the managers of diverse departments. DANS Real Estate will possess just 2 full time workers (Grönroos, 2008). The corporation will be located in Melbourne. Two receptionists will be available fulltime in office in order to provide services to customers. These four staff members will be hired from external environment. However, the services of managers and CEO will be done by the four owners of the company. Four owners will provide managerial services of different department.  

Job Title	Quantity	Expected staff turnover	Skills necessary	Date required
Receptionist	2	5 years	Good communication skills, good organizational skills and basic IT skills.	1st January 2017
Bookkeeper	2	5 years	High school diploma or equivalent.	1st January 2017

In order to provide effective customer service, the company will high 2 receptionists and 2 employees (Bookkeepers). The office work will be managed by these employees. Four employees are hired after completion of extensive recruitment process. The employees will be offered competitive salaries and pays. The salary and pay structure depends on market situations (Gerpott, 2015). 

The corporation will utilize completion policy as tasks will be received. The management and personnel of the company will manage various operations regarding sale and purchase of land and buildings. Agents will be involved in this process of sale and purchase. The customer can place orders through visiting offices as well as website of the company.  

Technological advancements are used to boost sales and revenues of the company. The website of the DANS will be favorite know-how in situation of our business (Farley, 2003).

The customer service is considered essentially important for success and development of the company. In order to provide excellent services, the company will facilitate customers 24/7. Summer seasons such as months of June and July are peak trading period for the company.

In order to communicate with customers, the traditional and new media are used. Internet, telephone, social media and website of the company are used to negotiate with customers. Basically, telephonic services will be used for communication purpose (Friedman,  2007).

The customers can use several modes of payments such as cheque, cash, cards and PayPal for payment purpose.

The company offers no credit policy as all dealings will be done though cash. The customers are required to pay cash during activities of sale and purchase.

The comprehensive process of recruitment will be performed. DANS will advertise jobs. Several tests and interviews will be conducted for recruiting qualified people (Kenny, 2011) 

In training programs, the employees will be provided information about negotiation, dressing competence as well as how to communicate with consumers (Freeman, 2006).

The website of the company will display various pictures and images of the property. Flyers will be distributed in which the information and data will be provided (Frank,  2003). 

Various assets and properties are required to complete the functions and activities. The below table indicates various assets required to complete the operational activities:

equipment	Price	second year	3rd year
Desktop	$1,200	1300	1550
Laptop	$4,000	5000	6000
Tablet	$3,000	3500	4000
Printer	$400	500	800
T.V	$2,100	2500	300
Internet Router	$120	150	200
Telephone	$110	120	300
Milk fridge	$215	300	400

Projection of financial activities is essential to do business effectively. Various actions are completed for providing excellent services (Zornada, 2011). T 

The total set up cost is AUD 205100. Each partner will contribute equally. There are four partners and owners of the company. Each company will participate 25% of share. Each partner participation will be $30000 per owner. The total amount of capital is $120,000 as total. This is distributed equally among four partners (Matthyssens & Johnston 2006).

JULY	AUGUST	SEPTEMBER	OCTOBER	NOVEMBER	DECEMBER	JANUARY
The planning of the business, objectives of the company and preparation of plans is started in 1st July 2016	Search of office in bayswater.	Prearranged the makeover 10th September 2016	At 1st October 2016, the course of real estate will be started	At 5th November 2016, the company achieved the insurance quote and permits	At 1st December 2016 recruitment process is completed to recruit workers and personnel	At 1st of January, the business initiated business
Company got registration at 20TH JULY 2016	30TH AUGUST 2016 FOUND THE OFFICE AND GOT IT LEASED	THE initiation of RENOVATION is started at 30TH  SEPTEMBER 2016	At 20TH OCTOBER 2016, the company got name registered	At 15TH NOVEMBER 2016, the company placed ads in the newspapers	At 25TH DECEMBER 2016, the process of renovation is completed
		Registered ABN and tax file number 30th  September 2016		Interview potential staff 25th November 2016	Flyers were distributed 30th December 2016

The business started activities at 1^st January 2017. It is estimated that revenue will increase each month. It is predicted that during initial months of operations, the company will get AUD 18,000 to AUD 32,000 of revenue. The commission is 12% on monthly basis. In June, the company will get 15% commission. It is expected the company will get AU$ 460,700 at the end of the year (Frundt, 2006).

The labor budget indicates the information about pay structure of employees and manager:

Position	Pay (AU$)	2nd year	variance
Receptionist salary	3400	3700	300
Owner salary (4 owners)	296230	300000	3770
Bookkeeper salary	3500	4000	500
Total labour cost including recruitment, training and development	300130	307700	4570

Aspects	Charges (AU$)	2nd year	3rd year
Total variable cost	84,700	90000	100000
Selling and administrative expenditure	166,720	180000	200000
Total Cost	251,420	270000	300000

Items	Amounts (AU$)	2nd year	3rd year
First month cash	15,000	20000	30000
Anticipated yearly cash	48,700	50000	70000
Anticipated total yearly expenditures	520,886	600000	800000

References

Shaw, A., 2011. Market segmentation and the impact of online media. Journal of Medical Marketing , 11 (3), pp. 254-262.

Calantone, R., 2000. Market Segmentation: Conceptual and Methodological Foundations. JMR, Journal of Marketing Research, pp. 135-136.

Darling, J. R., 2001. Successful competitive positioning: the key for entry into the European consumer market. European Business Review, pp. 209-221.

Management study guide .com, 2015. Service Marketing. Available at: https://www.managementstudyguide.com/definition-and-characteristics-of-services.htm

Pickton D. and Broderick, A., 2005. Integrated marketing communications. 2nd edition. Harlow: Pearson Education Ltd

Kotler, P., Wong, V., Saunders, J. and Armstrong, G., 2005. The Principles of Marketing.4th European edition. Harlow: Pearson Education Ltd.

Clow, Kenneth E., Baack D., 2007. Integrated advertising, promotion and marketing communications. 3rd edition. New Jersey: Pearson Education Ltd.

Grönroos, C., 2008. Service logic revisited: Who creates value? And who co-creates? European Business Review, 20 (4), pp. 298-314. 

Matthyssens, P. & Johnston, W. J., 2006. Marketing and sales: optimization of a neglected relationship. Journal of Business & Industrial Management, 21(6), pp. 338-345.

Adebisi, Y., 2006. Essential of Marketing Management, 1st ed. Lagos: Cilgal Publication.

Kenny, G., 2011. Diversification: best practices of the leading companies. Journal of Business Strategy, 33(1), pp. 12–20.

Farley, T., 2003. Groups need revenue management too. Journal of Revenue and Pricing Management, 2(2), pp.153-57.

Houben, GK Lenie and K Vanhoof, 1999. A Knowledge-Based SWOT-AnalysisSystem as an Instrument for Strategic Planning in Small and Medium Size. Enterprises‘, Decision Support Systems, 26, pp. 125-135.

Razali, M.N., Manaf, Z. and Yassin A.M. (2010). Internet Business Strategies by Property Companies in Asia. Property Management, 28, pp. 270-289. https://dx.doi.org/10.1108/02637471011065692

Robeiro, F.L. and Love, P.E.D., 2003. Value Creation through an E-Business Strategy: Implication for SMEs in Construction. Construction Innovation: Information, Process, Management, 3, pp. 3-14.

Ball, D., Coelho, P.S. and Vilares, M.J., 2006. Service Personalization and Loyalty. Journal of Services Marketing, 20, pp. 391-403.

Sen, R., 2005. Optimal Search Engine Marketing Strategy. International Journal of Electronic Commerce, 10, 9-25

Garoufallou, E., 2012. Evaluating Search Engines: A Comparative Study between International and Greek SE by Greek Librarians. Program: Electronic Library and Information Systems, 46, pp. 182-198.

Smith, A.D., 2004. Cybercriminal Impacts on Online Business and Consumer Confidence. Online Information Review, 28, pp. 224-234

Dixon, T., 2005. The Impact of Information and Communications Technology on Commercial Real Estate in the New Economy. Journal of Property Investment & Finance, 23, pp. 480-493

Douglas, I., 2005. Do business class air fares capture added value for airline alliance membership? Journal of Revenue and Pricing Managemen, 3(4).

Hazledine, T., 2010. Pricing, competition and policy in Australasian air travel markets. Journal of transport economics and policy, 44(1), pp.37-58.

Kenny, G., 2011. Diversification: best practices of the leading companies. Journal of Business Strategy, vol. 33, no. 1, pp. 12–20.

Zornada, K., 2011. No flight, no supply – Qantas Airways Ltd v Commissioner of Taxation. Revenue Law Journal, 21(1), pp.1-7.

Frank, Z., 2003. Early Globalization and the Economic Development of the United States and Brazil. The Journal of Economic History, 63(1), pp.306-07.

Freeman, R.B., 2006. People Flows in Globalization. The Journal of Economic Perspectives, 20(2), pp.45-170.

Friedman, B.A., 2007. Globalization Implications for Human Resource Management Roles. Employee Responsibilities and Rights Journal, 19(3), p.157.

Frundt, H., 2006. Monitoring sweatshops: Workers, consumers, and the global apparel industry/Globalization and cross-border labor solidarity in the Americas: The anti-sweatshop movement and the struggle for social justice. International Labour Review, 145(1), pp.143-148.

Gerpott, F.H., 2015. The right strategy? Examining the business partner model’s functionality for resolving Human Resource Management tensions and discussing alternative directions **. Zeitschrift für Personalforschung, 29(3), pp.214-34.

Wang, Z., 2006. Organizational effectiveness through technology innovation and HRM strategies. International Journal of Manpower, 26(6), pp. 481-487,606.

Wang, B., 2011. Chinese HRM in action: an interview with Wayne Chen of Hay Group China. Journal of Chinese Human Resources Management, 2(1), pp.61-68.

Wolff, A.W., 2007. China’s Drive Toward Innovation. Issues in Science and Technology, 23(3), pp.54-62.