Business Plan - Tailored-Care

I.

E Executive Summary S Thhe number of o reported child negligence has been b increaasing in receent years. Many M

governm ment and prrivate organnizations haave tried to t tackle thhe problem m. However,, the effectivenness of theiir solutions is not signifficant. Worsse still, the inflexible service hourss and inadequaate resourcess of child carre centers cannot satisfy the needs off child care from f parentss.

In view of the above situuation, our team propooses the ideaa called ‘Taailored-Caree’, an intermeddiary providiing professioonal and orgganized matching and reeferral serviices in childd care industry. We would recruit r care givers in thee communityy for child caare services.. Care giverss will then be provided p with professionnal training courses. c Ourr company will w then mattch each quaalified care giveer with clien nts requestinng child caree services. The T matchingg will be maade based onn our clients’ needs n and expectations together wiith our care givers’ abillities. In ordder to ensurre we have provvided the beest quality off service, wee will monitoor and evaluaate each servvice.

Thhe cost of thee child care services varries among transactions. t . The cost foor each service is all tailor-made to fitt our care givers and cuustomers’ exxpectations. In this connnection, ourr care wn livings with w a reasonnable givers caan receive job opportunnities and bee able to eaarn their ow amount of o salary. Allso, their soccial status will w be recognnized. On thhe other handd, our clientts can receive confident c care provideed by our care givers. Besides, they t will not n need too pay unnecesssary fee for unneeded u seervices. As for our com mpany, we would w receivee a portion of o the cost as ouur commissiion income. It is not at alll overstatingg to name it a “win-win situation”.

Ulttimately, un nattended children c cann receive tailored caare and conncern from m our professioonal matchin ng child care services. Not N only can it help to raaise social aw wareness tow wards child neggligence, butt also assist in i alleviatingg such problem.

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II.

T Problem The m Chhildren are considered c too be the pilllar of suppoort for our fuuture societyy. However, they

are often the one bein ng neglectedd by their ow wn families.

Baased on the estimates of the Com mmissioner for Census and Statisttics, on 5499,700 househollds with children under the age of thirteen, 422,000 househholds (7.1% %) had on onne or more occcasions left their childreen unattendeed "at home" for two hoours or moree during thee past seven days before en numeration. This figure appears to be b even more horrifyingg and worryinng as mall part off the whole picture. p The above figurre only show ws children being b it only shhows us a sm left ｀at home’, it has h still yet to count thhe number of o children being left unattended u a the at playgrouund or game centers. Also, it only reccords the nuumber of chilldren being left l unattendded at home forr two hours or more. For those whho are beingg neglected less l than tw wo hours aree also considereed to be equaally dangeroous and undeesirable.

In fact, according to the research done d

by Dr.. Vincent Iaannelli, the impact of child m psychologgical perspecctive, negligencce is far grreater than we can exxpect or imaagine. From children may feel beeing isolatedd; lack of truust can eventtually form into long-terrm mental health h consequeences like depression, low self-eesteem and find difficculties in establishing and maintaining relationship with otthers. In exttreme cases as reportedd in some loocal newspaapers, children may attemp pt to get suuicide. Also,, when we look at thee immediate physical efffects aroused from f childreen negligencce, problems can be rangged from relatively minoor, such as bruise b or cut, too severe, succh as brokenn bones or innternal bleedding. There are a a wide raange of accidents or unexppected causaalities arouseed from the negligence. The abovee problems and figures have already reached r an allarming poinnt that we ouught to do soomething to change c the current c situattion.

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III.

V Vision, Misssion and Vaalues

There is an old Chinese sayying that theere are no siingle parentss in this worrld who doees not love their own childrren. The maain reason foor leaving their children unattended can be explaained by their long hours of work to maintain thheir living standard. Fraankly speakiing, there arre no parents inn this world deliberatelyy want to abaandon their children c at home h withouut paying conncern and care to them. However, H theey do not knnow how too find trust-w worthy peopple who are well t take care of their chilldren. Whilee on the otheer hand, therre are a grouup of peoplee who enough to are very willingly to take care off children. However, H theey have neveer received adequate a traaining p and the t society. and theirr abilities aree not recogniized by the parents In view of thiis unmatcheed expectatioon and recoognized abillities, as weell as the cuurrent social prooblem of children beingg left unattennded at homee, we aim too promote a practical p sollution through introducing the first-evver professiional, organnized and syystematic matching m serrvices between Care-Giverss and families, whose chhildren are often o being left unattendded at homee. We r houseewives, retirred or unem mployed peopple to join us. u They would be trained as hope to recruit professioonal Care-Giivers to provvide such chhildren care services. Not N only will they be abble to earn their livings, bu ut also to ennhance their working abiility and soccial status. Most M importaantly, children being left un nattended caan receive taiilored care and a concern from a qualiified professsional that is muutually recog gnized by thheir parents and a the socieety. Eventuaally, not onlyy can the prooblem of childreen being unaattended at home h receive adequate awareness a am mong the society, but also be alleviatedd through the practical and a sustainabble plan of our new sociaal enterprise.

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IV.

R Reference Business B M Models

W have don We ne researchess on differennt business models. m It is found that the t current online o tutorial agents a have a number off similarities,, including thheir referral services andd payment cycles, c with ourr social enteerprise. We therefore decide d to inntegrate som me elements of the bussiness models of o the tutoriaal agents intoo our businesss model.

V.

O Organiization Stru Our ucture

P President Advisory Board

Educational Services

Trainin ng

Prom motion and M Marketing

Finance and a Credit Con ntrol

Administration

Hum man Resources s: C Care Givers

C Customers Relationship R M Management

Figuree 1

We plan to set up and maintain a simple funcctional organnization struucture to runn our business.. Our functio onal structurre (Figure 1)) consists off a president who will prrovide leadeership and corpporate strateegies of our enterprisee, together with w functioonal line sttaff in dom minant organizattional

areaas

in

Training,

Eduucational

S Services,

P Promotion

and

Markeeting,

Administtration, and Finance annd Credit Coontrol. Our Administrattion functioon would incclude

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Human Resources R function f ressponsible foor managingg the date-bbase of our care-giverss and Customers’ Relation nship Manaagement funnction whicch is respoonsible for maintainingg the informatiion of our clients. We would alsoo include ann advisory board b whichh will assist our companyy in decision n making and long term planning. The T simple function f wouuld allow prrompt decision making and d functionall specializattion, therebyy enhancingg the efficieent and effeective operationn of our busiiness while facilitating f thhe communiication and coordination c n among diffferent functionss.

T Advisory The y Board wiill be compoosed of som me public fiigures. At present, p we have already invited i Ms Christine C Faang Meng Saang, the Chiief Executivve of Hong Kong K Counccil of Social Seervice to be one o of the booard directors. We have also delightted to have Prof.

P Ng Kaii Hon, the Assisstant Professsor of the Faculty F of Puublic Adminnistration annd Prof. Wonng Wan Chi, the Associatee Professor of the Deppartment of Children Pssychology inn the Chineese Universiity of Hong Koong to be th he members in our boarrd. We are also a happy to t invite the Director off Top Flight Management M Company, Mrs M Brenda Lee and Gaary Lam froom the Agenncy of Voluuntary Services.. We will try y to recruit more m membeers into the Board B of Direector to assist our compaany’s vision annd sustainablle growth.

T five of our teammatees will take charge as thhe head of vaarious deparrtments. Mr Elvis The Chan willl be the preesident of thhe agent whiich he will take t overall in charge of o the compaany’s operationn and manag gement. Ms Nettie Ng will w be respoonsible for the t Training and Educattional Services department.. She will bee in charge of o the qualityy of the caree givers’ traiining courses and be responnsible for co ontacting wiith her friennd from the Agency A of Voluntary V Services. Shee also needs to take care off educationaal services thhrough the partnering p off some of heer professorss who has comm mitted to hellp for the preeparation off the needed materials. Also, A she will make use of o the

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resourcess available at a her Facultyy of Educatiion of the Chhinese Univeersity of Hong Kong. Mr M Jay Chow wiill be the peerson in chaarge for Prom motion and Marketing since s he has a wide range of resourcess, such as prrinting comppany, art annd design resource persoon etc and good g connecctions with our competitorss or alliances. He will also be respoonsible for thhe design off our websitee and all prograamming. Hiss major is Computer Sciience which he is equippped with adeequate knowlledge in prograamming and d design. Ms M Joy Ko will w be the person p in chharge for thee Administrration departmeent which sh he will be ressponsible forr all the mattching cases between thee Care-giverrs and clients. She S is equipp ped with adeequate knowledge througgh the traininng from the Faculty of Social S Science. She understtands well abbout the needs and expectation of thhe care giverrs and clientss. We intend too employ 2 service provviders in ourr company to t manage and a maintainn our clientss and care giveers database.. Last but noot the least; Mr Ken Woong will be in i charge off the Financee and Credit Coontrol deparrtment whichh he will be responsible for all the finance fi and accounting a o our of business.. He is best fit f into the poost as he maajors in Accoountancy.

VI.

O Business Partnerss Our

O business proposal haas received a lot of positiive feedbackk and supporrt from various Our associatioon or committee. The Aggency of Vooluntary Servvices and thee Hong Kongg Baptist Universitty, Center fo or Child Devvelopment haave promisedd to assist uss in providinng training courses to t our care-g givers. The Hong H Kong Domestic D Workers Geneeral Union haas promised to provide us u with a sm mall office areea in their Kwun K Tong Office.

O The Faculty F of Edducation andd the Faculty of o Social Wo ork of the Chhinese Univeersity of Honng Kong hass also made alliance a withh us for futuree cooperation n in providinng educationnal resourcess and traininng materials. Some of thee professorrs, such as Professor P Woong Wan Chi, have madee her promisse to assist us in this projject.

In additioon, we have made a num mber of contaacts with thee president annd memberss of the Parennts

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and Teacchers Association of Tseuung Kwan O primary scchools for theeir assistant in recruitingg potential care givers or clients to try out our services. Wee have also consulted c thee District Council, the Mutual Aid Committtee of the Home H Affair Departmentt and variouss owners' corporatiions in Tseun ng Kwan O for their suppport and futture cooperattion.

VII. Marketing M

Wee choose Tseeung Kwan O as our starrting point off our businesss proposal.

Tseeung Kwan O is a fastt expanding new town with 350 000 0 people. There are many m housing estates in th he district, foor example: Po Lam, Tssui Lam, Kinng Lam, Hong King, Tsseung Kwan O Centre, etc., as a resultt, the pool of o possible demanders d a supplierss is large. Inn this and district, the t labor forrce participaation rate (78.5%) is higgh for both sexes when compared to t the whole terrritory (60.3 3%). Besidess, the proporrtion of popuulation agedd under 15 comprises off 15% out of thee total figuree. The two figures f reveaal that a signnificant num mber of parennts are not abble to take caree of their chiildren while they are woorking. Thiss is also com mpatible withh our rising trend of dual-w worker familly in the socciety. There, we believee that there is a strong demand d for child care servvices in Tseu ung Kwan O. The district is composeed mainly off middle-income families and their earnning is abov ve-average median monnthly domesstic househoold income compared too the whole terrritory.

Ass announced d by the Plannning Deparrtment, furthher developm ment of thiss new town is in process and a the popu ulation is exppected to inccrease to 5200,000, with the t number of o primary scchool will be upp to 38, seco ondary schoool to 35 and special schoool to 2 in 20011. Howevver, there aree only 8 childreen and youth h centers in Tseung T Kwaan O at pressent. The suppply of suchh services arre not able to meet m its’ deemand in thee coming fooreseeable future. f As tiime goes byy, we expecct our

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companyy has built up p a certain degree of reputation so thhat it will continue to proosper and exxpand to other districts. d

VIII. In ndustry En nvironmentt Analysis

T industry environmennt has a direcct effect on our The o business’’ competitionn and returnn. The intensity of industry compettition and our business profit poten ntial can be summarized by the Portter’s Five Forces Moodel, which are functionss of Threats of new entrrants; Bargaiining power off suppliers; Bargaining B p power of buyyers; Threats of substitu ute productts; and Rivvalry among coompeting firrms.

8.1 Threeats of New Entrants New w entrants may m pose a thhreat to our business b as they t could bring b in additional produuction capacity in the mark ket. With loow barriers of entry andd low expeccted retaliation from cuurrent industry participants of the Tseuung Kwan O child caree market, it is i believed that t the threeat of t marrket is relativvely high. Although A othhers may imiitate our bussiness new entrants to our targeted model annd competee with us inn the samee market, ouur companyy still posseesses first-m mover advantagges, which in nclude mainttaining a largge data basee of care-givvers and form mation of alliance with Pareents-Teacherrs Associatioon of Primarry Schools annd trainings providers.

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8.2 Barggaining Pow wer of Supplliers The care-givers are our supppliers of ourr business. Since S we exppect a diverse group of caregivers with w only 1 or 2 buyerrs, the barggaining pow wer of supplliers to our business iss not significannt.

8.3 Barggaining Pow wer of Buyerrs Ourr company provides p differentiated services annd is not dominated d by any partiicular customerrs. Thus, the bargaining power p of buuyers is not significant. s 8.4 Threeats of Substtitute Produ ucts and Rivvalry among Competitoors T threat off substitute products The p andd the rivalryy among com mpetitors cann be summaarized by the following com mpetitor anallysis.

8.44.1 Governm ment New Proposal Wiith the incrreasing probblem of chhildren being left unatttended, the Social Weelfare Department has laun nched a pilott project nam med ‘the Neeighborhood Support Chhild Care Prooject’ t 31 Marchh 2011, withh the aim to provide morre flexible forms f of dayy care from Octtober 2008 to services for children n aged undder 6. It also aims at promoting p t spirit off mutual heelp at the neighborrhood level in the comm munity. Thee project is specially deesigned for parents whoo are either woorking long,, unstable and a / or uncconventionall hours, in emergency e n needs, and/oor for various reasons r requiring child care c assistancce, but lackiing support network n andd having finaancial hardship in securing g alternative child care support. s Theere are altoggether 6 projjects launchhed in October 2008 in 6 lo ocations inclluding: Kwaai Chung, Kw wun Tong, Sham S Shui Po, P Tung Chhung, n Long.

Tuen Muun and Yuen

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There are two kinds k of servvices providded in this project: p Centtre-based Caare Group (C CBC) me-Based ch hild care (H HBC). CBC offers close attention to children aged 3 to 6 by and Hom organizinng interestin ng, creative and a social acctivities for children in a group whiile HBC provides services at a the cares’ own residennce or a suitaable place appproved by the t operator.

The operations time periodd for these tw wo groups are a entirely different. CMC C operatees till late evenning and cov vers some weekends w andd public hollidays while HBC is onlly available from 7:00am to t 11:00pm. Families who w suffer frrom financiaal hardship can c contact service operrators directly for f details off fee reductioon / waivingg.

8.4.22 Existing Child C Care Seervices Othher than the governmentt new proposal, our com mpany will faace a number of competiitions from chiild care cen nters. At preesent the chhild care serrvices centerrs in Hong Kong are either e subsidizeed by government or opperated by private p operators. Thosee that are ruun by the prrivate operatorss are typicaal child carre centers in i the markket. Child care c servicees subsidizeed by governm ment consist of several different tyypes: Resideential Child Care Centrre, Special Child C Care Cenntre, Occasio onal child care c service,, Extended hours servicce, Mutual Help H Child Care Centre annd Neighborrhood Suppoort Child Caare Project which w is the newest n deveelopment of child care servvices in Hon ng Kong. Inn addition, we w still havve numerouss hidden chhild care serrvices providedd by individu uals or maidss.

IX.

C Current Serrvice Limittations

A Although a nu umber of pootential childdren care servvices providders exist in the t market, still s there are a number off limitations of such servvices.

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9.1 Lack k of Practica al Solutions A Although thee governmennt is tryingg and puttinng a lot of emphasis on o Neighborrhood support of child caare service, we can preedict the efffects of suuch program mme will noot be significannt. Accordin ng to the staatistic conduucted by the University of o Hong Koong in 2008, over 80% of innterviewees revealed that they do not greet theiir neighbor. Over 60% innterviewees even revealed that they do o not know who w is livinng besides thhem. The goovernment prroposal is siimply trying too promote child care seervices amonng neighborr without anny consolidaate and pracctical solutionss or plans to o the problem m. In additioon, the proggramme is siimply workeed as a voluuntary programm me so that neeighbor can never earn any a money by b providingg such servicce.

9.2 Limiited Target Group The majority off the child care c services provided by b both the Governmennt and childd care centers aim a at childrren under thhe age of 6 years old. If I we look at a the recentt news repoort on children negligence cases, mostt of the victtims aged above a 6 andd are mainlyy primary scchool h not adddressed such issues yet. children. The currentt children caare services have d Operating g Hours 9.3 Fixed N Neglecting th he hidden market m of inndividuals, Child C Care Centers onnly provide fixed service hours, h usually from 8:000a.m to 6:000p.m (Monnday to Fridday). In reallity, most of o the parents have h to work k until late evening e and their childreen are again being left unattended u affter 6 p.m. We can find th hat the existiing child caare centers only o provide a short-term m solution to t the above prroblem. Thee consequencces or side effects arouused from thhe unattended children after 6p.m are still yet to be b solved.

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9.4 Largge Class Sizee Chilld Care Centters are oftenn placed children in a laarge classrooom with an average a size of 30 pupils. The T centers only o operatee in a very systematical s l way whichh their modeerators only keep track on the progreess of childrren doing their t homew work. There is little coommunicatioon or interactioon between parents p and the t moderatoor of the cennters. It can explained e byy the fact thaat it is considereed to be veery difficult for the mooderators to understand every childd’s strengthss and weaknessses due to th he large classs size. Also, it is never their responnsibility to keep k track off how the childrren behave and a involve little l or evenn none aspeccts of childreen developm ment.

9.5 Discrrepancy in Quality Q Servvices Chhild care serrvices may vary v a lot inn terms of the t servicess they providded and thee fees charged. Private Chiild Care Centers show discrepancyy in servicess which reviiewed from their lack of sttandard quallity of servicces supervision and closee monitoringg of the moderators.

X.

O Servicees Our

O company Our y aims to proovide professsional, secuure, confidennt, pioneeredd and tailor-m made onsite chhild care serrvices in Hoong Kong. In I order to achieve ourr aim, matchhing servicees are providedd between ‘C Care-givers’ who are willingly w to take t care off children annd ‘Clients’ who wish to send s their ch hildren for chhild care serrvices. The matching m serrvices are all tailor-madee and varied frrom each cliient in accorrdance to thheir needs. Inn addition too the matchhing servicess, our companyy will also provide p trainning conductted by profeessionals to care-givers. It will helpp care givers to equip them mselves with necessary knowledge k a skills to take care off children inn case and of emerggency and no ormal routinne lives. Besides, speciall educationaal resources are designedd and availablee for the clieents on requuest. We wiish to act ass a professional, securee, systematicc and

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caring inntermediary, matching suitable s caree-givers witth clients, too provide taailor-made onsite o child caree services in n Hong Kongg.

XI.

O Value Chain Our C

11.1 Reccruitment off Care-Giveers C Care Givers are a one of thhe core elem ments of our services. Thhe recruitmeent of care-ggivers is the keey activity as a it is a grreat determinnant on ourr services tyypes and quuality. As foor the recruitmeent process, we welcom me housewivves, retired people, andd any other person whoo are kindheartted and verry willing to t take caree of childreen. Applicannts have to be Hong Kong K permanennt residents without anyy criminal records and pssychologicall problems. Interested I paarties are expeccted to fill in n an applicaation form (A Appendix A). Interviews will then bee conductedd with notificatiion in orderr to have better understaanding and informationn about our Care Giverss. An around 1-minute sho ort video willl be clippedd during the interview soo that it servves as a referrence for our clients in the future for matching m purrpose. A rating scheme (P.17Figuree 3) has desiigned especiallyy for the purpose of matching m serrvices. Caree-givers wouuld be assiggned to diffferent groups with w referencce to their respective r raatings. We are a very connfident abouut the recruittment results of care giverrs as we havve already approached a H Hong Kongg Domestic Workers W Geeneral Union annd some of the t Tseung Kwan K O Estaates owners’’ operation and a receivedd positive suupport from them m.

11.2 Traaining Coursses for Caree-Givers Inn order to en nsure that caare givers poossess the neecessary andd recognizedd qualities too both our cliennts and the so ociety in offe fering child care c servicess, we would provide proffessional traaining courses to t them. Ou ur company has formed alliance witth the Agenncy of Volunntary Servicces in

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providingg trainings to t our care-ggivers. In geeneral, the training t courrses can be divided intoo two major areeas: 1) Child d Care and Development D t, 2) Basic Fiirst-Aid trainning.

R Regarding ch hild care, caare givers will be traineed with basicc skills on children c cusstody.

The workkshop will be b mainly connducted in thhe form of sharing s and role-playing r . Care giverss will be givenn adequate opportunitiees of role-pplaying diffeerent childreen problemss and situattions.

Moderatoors/Trainers will providde feedbacks, practical solutions andd sharing sections durinng the workshopp. When itt comes to child development, arreas of trainnings will include chiildren psycholoogy, commun nication andd education. Topics T can be b ranged from how to motivate m chiildren to do hom mework to how h to settle children’s emotional e prroblems or different wayys to understand a child neeeds, etc. Thee above workkshops focuss on the pracctical solutioons or probleems faced by our care giveers in the fu uture. This is consideredd to be one of the pioneeered and uniqueness u o our of services as it will greatly help caare givers too prepare theemselves phhysically andd psychologiically t upcomin ng challengees they may encounter inn the future. It also provvides confideent to well for the our cliennts that our care givers are well-traained and prrofessional enough e to taake care of their children. They are expected e to have 100% % training atttendance raate before reegistering ass our h to ensurre our qualitty of servicees of our com mpany as well as qualifiedd care givers. This will help the care givers. g Other than the child c care seervices, basicc first-aid knnowledge annd skills are also addresssed in our comppany so thatt our care-giivers will haave the abilitty to take caare of the chhildren in caase of emergenccy situationss.

Befo fore attending g the traininng courses, care givers haave to sign an a agreemennt in ensuringg that they willl provide ch hild care serrvices througgh the matcching servicees of our coompany withhin 3

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months. During the 3 months period, p they are not alloowed to perfform any chhild care serrvices privatelyy or in any otther organizaation.

11.3 Reaaching Our Customers Reaaching our customers c iss another keey activity of our busiiness. In ordder to reachh our customerrs cost-effecttively, our company will adopt low cost c promotiion strategiees. Advertiseement notices are a to be po osted in supeermarkets. Handbills H w also be distributed will d i the districct. In in addition, we will try y to strike cooperation c with Parennts-Teachers Associationn of the Priimary w might refer r familiees in need to our com mpany for fuurther Schools in Tseung Kwan O, who discussioon. We woulld also makee alliances and a seek suppport from Tseung T Kwaan O Mutual Aid Committtees. More im mportantly, we w believe thhat the ‘worrd of mouth’ approach am mong parentts can be a stronng advertisem ment and proomotion of our o high quaality servicess for our com mpany.

11.4 Ourr Matching Services Caree givers are expected too provide serrvices whichh can cater different d neeeds of our clients.

Services ranging from m basic caree services suuch as school picking upp services annd meal provvision services to more adv vanced childd care servicces like afteer school tuttorials are offered. o Diffferent ovided by diifferent grouups of care-ggivers in accoordance withh the care giivers’ services are to be pro abilities and experieence. Hence,, the matchiing servicess will be maainly based on matching the needs off the clients and the quaalities proviided by our care givers. It is stronggly believedd that through our o professional trainingg workshopss, special deesigned ratinng system will provide 100% 1 confidentt to our clieents of the quality q and professional p services off our companny as well as a the Care-Givvers.

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The basic servicce charge of child care seervices is caalculated withh a 9 grid prricing. The v according to theirr child care experiences, e hourly raate of our carre-givers is varied their home environm ment and theiir education level (Figurre 2 and Figgure 3). In eaach categoryy, a maximum m of $9/hr couuld be chargeed under this rating system. Therefoore, the maxiimum hourlyy rate of a caaregiver is $27. $ The folllowing tablee is a detailedd illustrationn of our hourrly rate systeem.

Price in HK$

1. Acade emic Qualificcation

2.

Exp perience

Education Level

Ch hild Care Exxperience

9

6

7 5

Nurturing Experience

3. Housing En nvironme ent Type off Housingg

Area pe er Capita

3

4.5

4 4.5

5

2

3.5

3 3.5

3

2

2.5

2 2.5

Figure 2

1. Acade emic Qualificcation

2.

Experiencce

3. Housing Environ nment

Child Care Experience e

Nurtturing Experience

Type of Hou using

Area per C Capita

Deggree Holders or above

4 years of above

Child aage > 11

Private Housiing or P others

200 or 2 a above

Secondary 5 – 7

2 – 4 yearss

Child aage 6‐11

HOS Flats

151‐200

Se econdary 3 o or below

1 ‐ 2 yearss

Child age < 6

Public Houssing Estate

100‐150

Price in HK$ Price in HK$

Education LLevel

Figure 3

The exam mples of how w the hourly rates of our care-givers are determinned can be referred to Appendixx C

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In additioon to the bassic salary, caare-givers caan also earn income i from m extra servicces providedd, includingg but not lim mited to school picking-uup services annd meal servvices. The prricing of the extra-servvices is listeed as below: School picking upp services +$2 + per day

Meal

+$5 per day

11.5 Add ditional Serv vices Pareents are not only o concernned with the safety and professionali p ism of our seervices, but also how theirr children arre able to bennefit from ouur services. In I view of thhis, our com mpany will provide adequate a edu ucational ressources incluude supplementary exerccises on langguages, onrequestedd subject kno owledge matterials, etc. This T additionnal service iss well-designned and quaalityproven by the professor and poteential teacherrs in the Facculty of Educcation of the Chinese Universitty of Hong Kong K 11.6 Mon nitoring and d Evaluatioon To ensure e our services s quaality, we woould have monitoring annd evaluativee services of o our care-giveers. At the en nd of the firsst month of service, s evalluative intervviews, whichh can be in forms f of telephhone or facce-to-face, are a conductted with ouur clients annd care-givvers individuually.

Afterwarrds, follow-u up phone callls or questiionnaires aree made and distributed irregularly i too our clients too see if ou ur clients are a satisfied with our care-givers. c Our company stressess the importannce providing g quality annd professionnal services.. This monittoring and evaluation e syystem can certaainly enhancce the comm munication am mong us andd the respecctive stakehoolders. Moreeover, our comppany plans to t set up a webpage w whiich serves ass an online platform p forr the exchannge of commentts and feedbacks betweeen our clientss and our com mpany.

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XII. Our O Incomee

There are two major m sourcess of income identified.

Firstly, our majo or source off income will be the com mmission chaarged to bothh clients andd care i our care giver g and recceives $2,5000 for givers foor our matching services. For exampple, Miss X is her first month child d care servicces from ourr client. 50% % of her sallary ($2,5000 X 50%) will be deductedd from our co ompany as thhe training fee f and comm mission fee. In addition to the amouunt of money paid p to Misss X, our clieent also has to pay an additional a 40% of the whole w amouunt of service charges c as ou ur company commissionn fee. In anoother words, ($2,500 x 40%) 4 $1,0000 will be chargged to our client c as thee administraation fee of the matchinng transactiion. For a single s matchingg service, our o companyy will be able a to geneerate ($1,250 + $1,0000) $2,250 ass our

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companyy’s commisssion income.. We wouldd only chargge commissiion fee from m the first-m month referral service s of eacch match.

Other than com mmission chharged, our second souurce of incoome will bee the educattional n our clientss. It is regardded as an addditional servvice which is i available upon resourcess charged on request by b our clientts for their children. c Wee would preppare educatioonal resourcces, such as notes and exerccises, for ou ur clients. In return, we would w chargee a reasonabble amount as a our educattional service charges. ntative pricinngs and are subject s to chhange accordding to different needs of o our They are all ten W believe we could diifferentiate our o companny from the other child care centerss and clients. We justify ouur higher-thaan-competitoors prices byy our tailoredd and high-qquality value-adding servvices.

XIII. Financial F Pllan

Ta able: Monthly y Cash Flow Statement S for the Year End ded April 200 09 Maay

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

A Apr

15,732 $15,732 $1

$39,330

$31,464

$18,878

$26,745

$31,464

$39,330

$15,732

$25,171

$23 3,598

Cash Sp pending on Opeerations

$12,7 772 $14,463 $1 14,463

$21,543

$19,183

$15,407

$17,767

$19,183

$21,543

$14,463

$17,295

$16 6,820

Net Cassh Flow

($12,7 772) $1,269

$17,787

$12,281

3,471 $3

$8,977

$12,281

$17,787

$1,269

$7,876

$6 6,778

Cash Balance B

$97,2 228 $98,497 $9 99,765 $117,553 3 $129,834 $13 33,305 $142,283 3 $154,564 $17 72,351 $173,620 0 $181,496 $18 88,274

Pro Forrma Cash Flow Cash Received R Cash frrom Operations Commisssion Income

$0

Expend ditures Expend ditures from Operrations

$ $1,269

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T The below fin nancial statem ment are Proffit and Loss Acccount and Balance Sheet

The five year cash fllow statemennt, break eveen analysis and a start up funding anaalysis is show wn in the Appeendix H.

XIV. Conclusion C

Inn terms of our o finance, the financiaal budget annd forecast have shownn that our iddea is highly feeasible and sustainable. s A for our social values, not only caan our comppany can nott only As create jobb opportunitties for the housewives,, but also allleviate the problem p of child c negliggence, thereby helping h to so olve the sociial problemss in new tow wn. Thereforre, it is stronngly believedd that our sociaal enterprise proposal shoould be suppported and im mplemented..

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Ap ppendixx

A. Application Form m – Client B. Application Form m – Care-givver C. Exam mples of the Calculation C of Salary D. Contrract – Tailorred-Care, Caare Givers annd Clients E. Discllaimer F. Care Givers’ Reg gulation G. Finanncial Plan

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