ACTS Enterprises – -Executive Summary
Today music is one of the fastest growing industries in the whole world with a wide range of opportunities, employing millions of people. Devotion, talent, genuine interest, sincerity and willingness to work hard can guarantee a big success in the field of music. Likewise, an exciting opportunity currently exists for a full service musical instrument retailer in Kathmandu Valley. Although there are a number of musical instrument retailers in this city of over 2,510,788 people (2011 Census), there are currently only limited very small school band and orchestral instrument dealers (Mangalbazar, Lagankhel, Pulchowk); these stores have small selections and short hours. At the other end of the spectrum (stores with a more guitar and electrical focus), big chains (Guitar Shop, Music Point, Planet Music) are competing on prices at the expense of customer service.
As we believe on this statement, “Start small but always think big.” ACTS’29 Enterprises was established on 16th Chaitra, 2070 and registered on Lalitpur Metropolitan City on dated 12th August, 2014 licensed for Books, Stationery, Sports and Music at the heart of Lalitpur city i.e. Kanibahal – 6, Prayagpokhari, Lalitpur. Later on ACTS decided to move on with music by disabling three licensed business. For the first year only 60-70 guitar were sold and likewise 178 guitars were sold on second year. Then after 428 guitars on third year and fourth year of its establishment ACTS’s rapidly grow its business to 1600 guitars per year. Now, it has large demand on music market. Some friends and financial institution were interested to put their partnership on this business. But refusing partnership it thought of new company who can import all needed things from India, China and other third countries. ACTS Worldwide Import and Export Company Pvt. Ltd. were born on the date 23rd December, 2016 and registered on Company Registrar Office, Tripureshwor on the date 13th April, 2017 with its 10 members. Currently ACTS is running on second year of its establishment.
ACTS World Wide Import & Export Company Pvt. Ltd. is a company of 10 reputed businessmen in their related business. Since its formation the company believed in giving excellent customer service & constant expansion of product line. In a very short period of time company gained tremendous reputation in Nepal as well as in overseas market.
Our Import product line contains Musical Instruments, PA or Sound System, Office & Schools Stationery Items, Clothing & apparels, Electronics & Electricals, Housing hardware, Sports materials, Surgical & Hospital Items, Computers & Peripherals, Mobile & its accessories, Miscellaneous.
Distributing areas: first to its own retailer shop and secondly related retailer shops all over the country Nepal.
ACTS will offer the buying public a superior shopping alternative, with a huge selection of school/ college band and orchestra instruments, plus guitars, keyboards and accessories, at reasonable prices. Our products will be supported by skilled repair services and a knowledgeable and friendly staff, as focused on educating the customer as on closing the sale. We will exploit our competitors’ weaknesses by offering ongoing music community events, from free lessons, to music clubs, to after-sale follow up to turn one-time shoppers into lifelong customers.
Our unique marketing schemes include “You Play, We Pay” (whereby a portion of instrument sales and rentals are donated to local school band programs) and “100% Money Back” trade up programs, where customers receive 100% of their purchase price toward upgrading their instrument within one year.
ACTS will focus on the novice, hobbyist, and semi-professional musician; these three groups are seeking value, customer service, and knowledgeable assistance in making what can be a rather significant purchase. ACTS will gain a reasonably large percentage of market shares in a short period by immediately differentiating ourselves from our competitors. We will establish our branding with our superior service and selection, the excitingly modern look of our retail environment, our “hands on” merchandising approach, and a series of ads with our motto: Stop Dreaming, Start Playing. Once in the store, our clients want to come back often for the special treatment they receive here and nowhere else.
The founder of ACTS, Dr. Sufesh Adhikari, has over four years of experience as the store manager. He has seen firsthand where opportunities are missed through lack of follow-through or careful planning, and knows what local customers are looking for. Based on his experience, Dr. Sufesh Adhikari conservatively projects sales of over Rs. 55, 00,000 in the first year, increasing to almost Rs.70, 00,000 by year three. We will start generating a profit in January, 2019, and profits will increase steadily thereafter.
Although ACTS may not become the biggest by now, our intention is to become a “Must-Shop Destination” for those looking to buy a new or used musical instrument in Kathmandu Valley!
Company – -Summary
ACTS Worldwide Import and Export Company Pvt. Ltd. is a Importer, Distributor, Wholesaler & a retailer of musical instruments and their accessories, located on a heart of Lalitpur city. ACTS will differentiate itself from its direct competitors by marketing the store’s educational approach, and one of the most hands-on store layouts of its type in Nepal. In addition, we will offer a wider selection of products, and more services to reward customer loyalty, than our competitors.
Company Locations and Facilities
We have chosen a site at Kanibahal-6, Prayagpokhari, Lagankhel for several reasons:
• Safe and plentiful parking area.
• Near high-traffic area such as Home, Shops, bus park and anchored by Hotel Goodwill & Ward Office.
• Beneficial demographics: over 150,000 households within a 1 km radius, 15,000+ cars/ motorcycles per day on the two cross-streets, and no direct competitors within 10 km.
All of the above qualities are consistent with ACTS’s goal of providing a fresh approach to musical instrument retailing. We are looking at leasing approximately 3,500 sq.ft. of space, which will allow sufficient room for up to six lesson studios, a repair area and necessary storage and office space. We expect usable selling space to end up being around 1,400 sq.ft.
Products and Services
ACTS will sell new and used musical instruments and accessories. Our primary items will be new band and orchestral instruments, electric and acoustic guitars, amplifiers and electronic keyboards. In addition we will have a full service, on-site repair and customization department (band instruments, guitars and electronics).
We will offer a “state of the art” music lesson program featuring top degreed instructors, as part of our overall focus on educating our customer base. This program will include private and group lessons, as well as outreach to local schools. We will also develop music clubs geared to children and seniors, to further serve our local community.
Although offering school band and orchestral instruments, service and lessons will be our main competitive advantage, guitars will remain the primary revenue producer for musical instrument stores for the foreseeable future.
Product and Service Description
ACTS will offer several name brand instruments such as:
• A large selection of band instruments by Selmer/Bach, Yamaha, and Caravan, Leblanc with an emphasis on the intermediate level instruments and its own brand ACTS.
• Electric and acoustic guitars including Fender, Gibson, Jackson, Fernandez, Suzuki, X-Cort and other nationally known brands, such as Takamine, Taylor, ACTS and Martin.
• Amplifiers by Peavey, Orange, BOSS, Custom, Traynor, ACTS and Hiwatt to support our guitar sales.
• Keyboards by Casio, Yamaha, Suzuki, ACTS and Korg.
• Sound reinforcement products will be exclusively by ACTS. We will be the only dealer in Nepal, and will offer a rental program for local bands, schools, colleges & other out stage programs.
• A very well stocked accessory department to support the above items. A recent Music Trades article found that 80% of the buying public considered this the most important reason they buy from a musical instrument dealer.
In addition to complete repair services for our products, we will emphasize upgrades and customization items to develop other income streams our competitors have not considered. When carrying a brand name item conflicts with giving the customer the best all-around value, we will always pursue the product that best suits our client’s interest.