BUSINESS PLAN 'Parking Construction'
- 193
- Английский
- 08.08.2014
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Adaptation of this business plan is possible for similar project worldwide.
Business Plan Description
Project idea: modern parking construction on the free areas over the central heating station (CHS).
Type of parking: above-ground multilevel.
Project location: Moscow, the Russian Federation.
Project audience: car owners aged from ** to ** years.
Equipment: automated system «PUZZLE»
Promotion and marketing: advertising posters placed on the building carcass; application of addresses on the Internet Moscow parking map; local media.
Project implementation period: * years, with the planning step in one month.
Estimation of project economic efficiency:
|
Sales indicators |
Units. edited. |
Value |
|
Break-even point |
% |
** |
|
Break-even point |
RUB |
** |
|
Profitability indicators |
Units. edited. |
Project average value |
|
Return on sales |
% |
** |
|
Return on assets |
% |
** |
|
Operating indicators |
Units. edited. |
Project average value |
|
Sales volume, per month |
RUB |
** |
|
Current expenditure, per month |
RUB |
** |
|
Net profit, per month |
RUB |
** |
|
Cash flow, per month |
RUB |
** |
|
Investment indicators |
Units. edited. |
Project average value |
|
IRR, % per year |
% |
** |
|
Necessary investments |
RUB |
** |
|
NPV |
RUB |
** |
|
Discounted payback period |
years |
** |
|
Profitability index (PI) |
– |
** |
|
Discounted profitability index (DPI) |
– |
** |
Excerpts from the Research
According to the statistics, cars are used directly only * hours a day. That’s why owners need the safe car keeping for the rest of the day.
The ratio of the car places number in Moscow parking and the number of city cars is approximately **. In the capital Central District, where the bulk of the workplaces is focused and accordingly the transport is congregated during the daytime, this indicator is decreased to 0.25. That’s why the building of new parking areas is particularly relevant for Russian capital.
Market volume of Moscow parking for mid-2014 is about *** car places and the average annual growth over the last 8 years is about *** car places.
In the structure of the Moscow parking types the above-ground single level parking lots (** %) are dominated, multilevel parking lots and garages are as follows (**% each). Underground parking lots occupy a relatively smaller share – * % of the total car places number.
In terms of parking areas deficit the car owners are forced to leave their vehicles far from the place of job frequently and get it from the parking by public transport. In the central city part the largest number of parking lots are situated near such metro station as «**», «**», «**», «**» and others.
The factors, which have a great influence on Moscow parking prices, are: location in the city (the prices in the center are higher than in suburbs) and type of parking, which directly depends on the cost of the car place constructing (** parking lots are more expensive than **). One more car place price factor is privacy. It means that only inhabitants or employees of a particular building could use the garage. The combination of these factors led to average rent car place price **-** RUB/month in the center of Moscow and **-** RUB/month in more suburbs.
The average peak parking workload is accounted for midweek – on Wednesdays (** %) and Tuesdays (** %). The peak parking workload lasts between ** h. and **h. The average parking workload on weekdays is about ** % and at rush hours comes to ** %, what is much higher than the recommended level. Parking lots must observe the elasticity of parking workload to the parking price at the level of 0.4. It is necessary for parking lots to cope their basic functions, which are decreasing of traffic intensity and accelerating of speed on the road network.
The project target audience are car owners aged from ** to ** years, which make ** % of the total population of Moscow, considering also that every third inhabitant (33% of population) has a car. During the analyzing of opportunity of multi-level parking, the following data were identified: ** % of respondents use the services of such parking type constantly; ** % of them are going to buy a car place, **% – use them sometimes, ** % – do not use because of their high cost.
The promotion of services requires the obligatory taking into consideration such facts: **% of population prefer free of charge and unguarded parking, **% of them choose the parking of middle price segment. VIP and economy class parking lots are used by relatively small number of car owners – ** and ** % accordingly. It is expected to implement the marketing plan using the outer and contextual advertising, and also the advertising on radio and in Moscow printed matters. Project will be financed by both of private investment and bank loans in a ratio ** % to ** %. Construction objects will be rented since **th month of project implementation, when according the plan, all construction work will be finished.
|
List of Diagrams, Tables, Figures and Charts |
4 |
|
Executive Summary |
8 |
|
1.0. Project Description |
9 |
|
2.0. Moscow Parking Market Analysis |
12 |
|
2.1. Overview of Motorization Level in Moscow and Moscow Region |
12 |
|
2.2. General Characteristic of Moscow Parking Market |
14 |
|
2.3. Market Structure by Type of Parking |
17 |
|
2.4. Market Structure by Prices |
23 |
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2.5. Problems Related to Parking Lack |
28 |
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2.6. Market Development Tendencies |
32 |
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2.7. Consumer Analysis |
34 |
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3.0. Competitor Analysis |
41 |
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3.1. The List of Competitors, Prices and Conditions |
41 |
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3.2. Competitors Concept and Services Assortment |
48 |
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4.0. Marketing Plan |
49 |
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5.0. Organizational Plan |
52 |
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5.1. Stages of Project Development |
52 |
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5.2. Wage Fund |
56 |
|
6.0. Investment Plan |
59 |
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6.1. Sources of Financing |
59 |
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6.2. Project Work Timetables |
60 |
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7.0. Financial Plan |
69 |
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7.1. Project Assumption |
69 |
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7.2. Sales revenue |
71 |
|
7.3. Project costs |
77 |
|
7.4. Taxes |
92 |
|
7.5. Depreciation |
103 |
|
7.6. Profit and loss statement |
115 |
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7.7. Discount rate |
123 |
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7.8. Cash flow statement |
134 |
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7.9. Break-even point |
163 |
|
7.10. Financial Analysis |
165 |
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7.11. Investment Analysis |
170 |
|
7.12. Conclusion on the Project Investment Attractiveness |
180 |
|
8.0. Sensitivity Analysis |
181 |
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8.1. Changing of services price level |
181 |
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8.2. Changing of equipment cost |
185 |
|
8.3. Changing of general operating expenses level |
187 |
|
8.4. Changing of discount rate |
190 |
Diagrams
|
Diagram1. Number of Passenger Cars per 1 000 Inhabitants of Moscow and Region |
9 |
|
Diagram 2. Average Motor Transport Occupancy of Moscow Administrative Districts |
10 |
|
Diagram 3. Ratio of Car Number in Moscow and Region by 2013 |
11 |
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Diagram 4. Ratio of Increase in Car Number and Car Places for 2011-2012 in Moscow |
12 |
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Diagram 5. Provision of Car Places for Permanent Population of Moscow Districts,% |
12 |
|
Diagram 6. Dynamics of Car Number in Moscow |
14 |
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Diagram 7. Types of Parking of Moscow |
15 |
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Diagram 8. Above-ground parking |
17 |
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Diagram 9. Structure of Multilevel Parking Garages Supply in the Central District by Metro Stations,% |
20 |
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Diagram 10. Average Peak Load of Week, % |
24 |
|
Diagram 11. Statistics by Models of Stolen Cars in Moscow |
27 |
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Diagram 12. Stealing Statistics on Moscow Regions |
28 |
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Diagram 13. Changing the Car Market Productivity |
30 |
|
Diagram 14. Population of Moscow administrative districts in 2012, thsd. pers. |
31 |
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Diagram 15. Distribution by Age Groups, thsd. pers. |
32 |
|
Diagram 16. Car Owners Number in Districts of Moscow |
33 |
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Diagram 17. Cars Deficit by Districts, thsd. units |
34 |
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Diagram 18. The salary level for 2011-2012 in Moscow, RUB |
35 |
|
Diagram 19. Increase in Vehicle Fleet of Moscow |
35 |
|
Diagram 20. Time Proportion of Car Staying in Parking |
37 |
|
Diagram 21. Account of Car Owners Preferences in Selection of Enterprise Strategy |
46 |
|
Diagram 22. Structure of Labor Costs,% |
54 |
|
Diagram 23. Ratio of External Investment and Credit,% |
56 |
|
Diagram 24. Structure of investment directions, % |
60 |
|
Diagram 25. Investment Dynamics, RUB |
61 |
|
Diagram 26. Revenue Projections (for selected parameters), RUB |
70 |
|
Diagram 27. Comparison of maximum revenue, minimum revenue and revenue on selected parameters for whole lasting of project implementation, RUB |
73 |
|
Diagram 28. Costs Projections, RUB per month |
88 |
|
Diagram 29. Tax Payments Structure, % |
99 |
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Diagram 30. Dynamics of taxes share in revenue, % |
99 |
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Diagram 31. Property Balance Value at the End of Month, RUB |
110 |
|
Diagram 32. Project Break-even Point, % of Load |
161 |
|
Diagram 33. Discounted Cash Flow Dynamics |
176 |
Tables
|
Table 1. Market Characteristic |
15 |
|
Table 2. Distribution of objects number by type of parking in new garage complexes,% |
18 |
|
Table 3. Distribution of objects number by type of parking in new buildings, % |
18 |
|
Table 4. Distribution of objects number by type of parking in new and reconstructed business centers, % |
18 |
|
Table 5. Rent per month |
24 |
|
Table 6. Plan of Car Place Commissioning |
32 |
|
Table 7. Project SWOT-analysis |
39 |
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Table 8. The Largest Parking of SBO «Gormost» |
42 |
|
Table 9. Rent payment of CJSC «MUP» |
44 |
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Table 10. Central Parking Tariffs |
45 |
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Table 11. List of Moscow parking |
46 |
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Table 12. Main Stages of Project |
51 |
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Table 13. Time spent on construction of 1 unit |
53 |
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Table 14. Personnel Number and Labor Remuneration |
56 |
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Table 15. Investment Plan, RUB |
59 |
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Table 16. Cost of Preparatory Works |
63 |
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Table 17. Total Cost of Parking |
64 |
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Table 18. Stage of Works Cost |
64 |
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Table 19. Construction of objects by months |
64 |
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Table 20. Cost of Services |
68 |
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Table 21. Ratio of Services and Time Common Fund |
68 |
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Table 22. Cost of services per month |
68 |
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Table 23. General Operating Expenses |
68 |
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Table 24. Ratio of Parking |
69 |
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Table 25. Tax Rates |
69 |
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Table 26. Depreciation Rates |
69 |
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Table 27. Other Assumption |
69 |
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Table 28. Rent Revenue (for selected parameters), RUB |
70 |
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Table 29. Minimum and Maximum Car Place Rent Revenue |
72 |
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Table 30. Taxes |
91 |
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Table 31. VAT Calculation |
97 |
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Table 32. Balance Property at the Beginning of Month |
102 |
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Table 33. Depreciation Charges |
105 |
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Table 34. Balance Property at the End of Month |
108 |
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Table 35. Cost of Equipment and Preparatory Works for Period |
113 |
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Table 36. Profit and loss statement |
114 |
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Table 37. Calculation of long-term profits over CAPM for portfolios of decimal groups NYSE/AMEX/NASDAQ |
128 |
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Table 38. Algorithm for determining the risk of the company |
129 |
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Table 39. Algorithm for calculating the specific risk premium |
130 |
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Table 40. Calculation of discount rate by WACC-method |
131 |
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Table 41. Cash Flow from Operating Activities |
133 |
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Table 42. Cash Flow from Investing Activities |
147 |
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Table 43. Credit Terms |
153 |
|
Table 44. Cash Flow from Financing Activities |
153 |
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Table 45. Total activity |
157 |
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Table 46. Break-Even Point |
162 |
|
Table 47. Sales Indicators |
164 |
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Table 48. Profitability Indicators |
164 |
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Table 49. Operating Indicators |
166 |
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Table 50. Investor Cash Flow |
169 |
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Table 51. Discounted Indicators of Investor Cash Flow |
172 |
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Table 52. Indicators of Investment Attractiveness (excluding the discount rate) |
177 |
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Table 53. Discounted Indicators of Investment Attractiveness |
177 |
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Table 54. General Indicators of Investment Attractiveness |
179 |
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Table 55. Efficiency Criteria |
179 |
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Table 56. Sensitivity Analysis of Changes in Services Price Level |
180 |
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Table 57. Sensitivity Analysis of Changes in Equipment Cost |
184 |
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Table 58. Sensitivity Analysis of Changes in General Operating Expenses |
186 |
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Table 59. Sensitivity Analysis of Changes in Discount Rate |
189 |
Figures
|
Figure 1. Parking of «PUZZLE» Type Scheme |
8 |
|
Figure 2. Multilevel Parking |
19 |
|
Figure 3. Parking of «Tower» and «Conveyor» Types |
19 |
|
Figure 4. Parking of «PUZZLE» and «Rotary» Types |
20 |
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Figure 5. Parking Location in Central Part of Moscow |
22 |
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Figure 6. Consequences of Car Places Lack |
27 |
|
Figure 7. Changing of Congestion in Different Zones of Moscow in 2014 Compared to 2013 |
30 |
|
Figure 8. SBO «Gormost» Parking Map |
40 |
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Figure 9. General Appearance of the "People's Garage" |
42 |
|
Figure 10. CJSC «MUP» Parking Plan |
43 |
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Figure 11. CHS 903-4-119.87 Scheme |
50 |
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Figure 12. CHS 903-4-60.86 Scheme |
51 |
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Figure 13. CHS 903-4-172.9 Scheme |
51 |
|
Figure 14. Platform Omer MONO 5-10-15 |
53 |
|
Figure 15. Company personnel |
54 |
|
Figure 16. Administrative Districts of Moscow |
54 |
Charts
|
Charts 1. Changing of Peak Occupancy Rate during Tariff Changing, %/RUB |
28 |
|
Charts 2. Moscow Population Growth Dynamics |
36 |
|
Charts 3. Depreciation Charges, RUB/month |
113 |
|
Charts 4. Average Monthly Net Profit Dynamics during Price of Services Changing |
182 |
|
Charts 5. Project NPV Dynamics during Price of Services Changing, RUB |
182 |
|
Charts 6. Project Payback Period Dynamics (РР) during Price of Services Changing, months |
183 |
|
Charts 7. Project Discounted Payback Period Dynamics (РР) during Price of Services Changing, months |
184 |
|
Charts 8. Average Monthly Net Profit Dynamics during Cost of Equipment Changing, RUB |
185 |
|
Charts 9. Project NPV Dynamics during Cost of Equipment Changing, RUB |
186 |
|
Charts 10. Project IRR Dynamics during Cost of Equipment Changing, % |
186 |
|
Charts 11. Average Monthly Net Profit Dynamics during General Operating Expenses Changing, RUB |
187 |
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Charts 12. Project NPV Dynamics during General Operating Expenses Changing, RUB |
188 |
|
Charts 13. Project IRR Dynamics during General Operating Expenses Changing, % |
188 |
|
Charts 14. Project Payback Period Dynamics (РР) during General Operating Expenses Changing, months |
189 |
|
Charts 15. Project Discounted Payback Period Dynamics (DРР) during General Operating Expenses Changing, months |
189 |
|
Charts 16. Project NPV Dynamics during Discount Rate Changing, RUB |
190 |
|
Charts 17. Project Discounted Payback Period Dynamics (DРР) during General Operating Expenses Changing, months |
191 |