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Butterfield Motors Holdings, Ltd. Turks & Caicos Islands

Butterfield Motors Holdings, Ltd. Turks & Caicos Islands

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Butterfield Motors Holdings, Ltd. Turks & Caicos Islands

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  1. Butterfield Motors Holdings, Ltd.Turks & Caicos Islands Business Plan Proposal June 1, 2014. Business Plan

  2. Butterfield Hyundai, Ltd.Turks & Caicos Islands Butterfield Hyundai, Ltd., was establish by Mr. Adulson A. Butterfield. The birth of Butterfield Hyundai, Ltd., Came about as a result of the proprietor observing customers seeking lower prices from my former Employer Butterfield Motors, Ltd., a Chevrolet dealership. As result of this Hyundai was contacted for dealership distribution for the Turks & Caicos Islands. During June 2013 a Letter of Intent was awarded to Mr. Adulson A. Butterfield for a Hyundai Dealership. Mr. Adulson A. Butterfield served as President & C.E.O of Butterfield Motors, ltd., for a period of three years; Under his management sales were $2.8 Million for year #1 at Butterfield Motors, ltd., Yr #2 sales were $3.2 Million US Dollars. Mr. Adulson A. Butterfield holds a Master of Business Administration degree, and dual Bachelors degrees in Finance and Business Administration. Automotive Experience: Mr. Adulson A. Butterfield was contracted during January 2010 to write the business plan And to establish a Chevrolet Dealership for the Turks & Caicos Islands. On short notice, Mr. Adulson A. Butterfield Quickly establish his team and drafted required drawings and within a short period construction began. Auto Builders, Inc., a leading contractor within the United States came on board to build-out the service Center. Within three months the job was completed by Auto Builders on budget with rave results Butterfield Hyundai, Ltd., is a private company. Mr. Adulson A. Butterfield is 100% sole shareholder of the company. Management received our first shipment of Hyundai 2014 models and held an event to demo the new models pre-opening The event was such a success we now have a database of 2,500 of preferred customers whom are excited to become Customers. Results from our marketing exercises entails a marketplace excited to purchase the Hyundai products and services. Currently the demands have exceed the business start up Inventory cash flow capacity. Kindly note, management have receive strong demands from automobile rental companies & consumers seeking Automobiles for leases and sales. Marketplace demand have exceed our ability to meet the high demand for product and service. Business Plan

  3. Butterfield Hyundai, Ltd.Organization Chart Business Plan

  4. Butterfield Hyundai, Ltd.DealershipOperating Chart Business Plan

  5. On the island of Providenciales, it is estimated that more than 50% of the units in an average parking lot are Crossovers, full-size automobiles and Suvs. Consumers’ purchasing preferences for automobiles is not affected by rising fuel prices as the #1 factor in vehicle preference purchase. MarketAnalysis Butterfield Hyundai top seller will be Crossovers. Business Plan

  6. Consumers’ Profile Analysis Consumers within our marketplace overall are consider as middle-class. Purchasing power ranges between $16,000 to $35,000 US Dollars. Hyundai automobiles provides the best product line up for this segmentation. Overall this market’s customers are very demanding and are well informed in terms of product specs, features, prices and market logistics. Upselling accessories upgrades from the basic packages, would be essential to the overall consumer experience. Turks & Caicos Islands allow both Left & Right hand drive automobiles. Overall the majority of the automobiles are left hand drive vehicles. Driving on the left side of the road is the Preferred traffic management Business Plan

  7. Butterfield Hyundai, Ltd.Duty and Tax Rules TCI Import Duties are based on the engine size and cost of the vehicle, unless its un-laden weight is six tons or more. Tables as follows; DUTY RATE; Units designed for travelling on snow; golf carts or similar 10% Cylinder capacity under 2000cc and less than $20K 35% Cylinder capacity under 2000cc and more than $20K 40% Cylinder capacity between 2000cc & 4000cc and less than $30K 45% Cylinder capacity between 2000cc & 4000cc and more than $30K 50% Cylinder capacity exceeding 4000cc and less than $40K 55% Cylinder capacity exceeding 4000cc and more than $40K 60% Hybrid and other energy efficient motor/goods vehicle 10% Vehicles with un-laden weight of 6 tons or more 10% Parts & accessories 30% Above PLUS a Customs Processing fee of 7.5% Business Plan

  8. Strengths • Representation of excellent and strong brand name. • Known product quality. • Brand support . • Competitive price structure. • Successful retail business operators. • Captive market for product and services within Group. • Company already known for reliability and support . Weaknesses Consumer credit history. Local experienced staff not readily and easily available. Upper middle class consumers may not purchase. SWOT Marketwith Hyundai • Threat • Price sensitive consumers. • Unfavorable interest rates for vehicles. • Lack of financing for potential clients. • Rapidly changing industry environment. • Competitors attracting potential consumers. • General downturn in the worldwide economy. • 7) Implementation of VAT Opportunities Potential to lease units as companies stray from vehicle ownership in favor of providing staff with vehicle subsidies. Fleet sales to public companies who are our existing commercial customers and tenants. Fleet sales to other rental companies. Packaged deals to the staff of larger companies, such as Fortis TCI (Power Co) , Commercial Banks and the high-end hotel chains . Business development packages offered through our local bankers (CIBC First Caribbean International Bank, Scotia Bank, RBC) Business Plan

  9. Butterfield Hyundai, Ltd.Sales Channels Business Plan

  10. Initiatives Strategies Sales Activities Retail Sales Create a customer retention Loyalty program. Establish a data base on each customer who visits the dealership. Currently, our Sales Associates gathers vital customer information at each visit to the dealership, collecting data on vehicle preference, service related activities, and other customer needs and requirements for our customer database. This information is entered into our server and is used to contact customers for routine services, promotional activities, parts specials, etc. 3. Partnering with the local community businesses for special activities and events. Business Plan

  11. Metrics Initiatives Strategies Fleet Sales 1. Rental Companies a) Budget Rent A Car b) Total Rent A Car c) Caicos Wheels d) Rent A Buggy Total units: 50 a year Fleet SalesTarget 34 Units Total units: 14 a year 2. Sales to local companies a) Royal Police b) Herzog, Ltd c) NIB & NHIB d) Hotels The Turks & Caicos Government Various departments. (i.e. Police, National Insurance, National Health Insurance Board, Immigration, and the Turks & Caicos Customs Departments). Business Plan

  12. Strategies Initiatives 1. Advertising (Branding & Specific model campaigns) - Newspapers & Magazines - Radio - TV Advertising & Promotion Butterfield Hyundai, Ltd.Advertising and Promotion 2. Special Events - Partnering with local Banks’ Auto Shows each Year - New vehicle launch 3. Initiatives to increase customer visit to Dealer. - (detailed at end of presentation) 4. Promotions & printing materials Business Plan

  13. ActivityDescriptionMonth New Year Model Promotion Local Market Residents January Sales Incentives/Promotions Valentine’s Day February Mother’s Day April-May Fleet Sales Program Car Rentals Upcoming Season June Christmas Nov/Dec Partner with Cellular providers: Christmas Promotion Nov/Dec Advertising Yellow Pages Annually Newspapers For various events Butterfield Hyundai, Ltd.Advertising and Promotion Business Plan

  14. Target: $15,695 Service Income/Month Butterfield Hyundai, Ltd.ServiceDepartment At present there are less than forty Hyundai automobiles on island, the overall majority of these vehicles are more than four years old. Butterfield Hyundai has taken the decision to market the Hyundai brand base on the new models, style and incentives. We plan on positioning the brand as a product that meets and exceeds the requirements for consumers’ concerns for reliable and affordable automobiles that provide outstanding qualities in every metric comparison for the automobile industry. Management expects to receive a minimum service income of $15,695 per month. This assumption was base on Hyundai’s old models in the marketplace. We expect service will increase as we roll out new vehicles for sales, leases, and fleet sales. Adding the Hyundai brand to the marketplace our dealership will be able to distribute new products and services to local residents and commercial establishments. These in turn would be able to increase their existing fleets at a cost point consumers can become excited about. Business Plan

  15. Operation & Facilities • a) Management will establish a full service dealership and body repair shop after opening. Facilities will be properly and completely outfitted with all the essential equipment and tools over the next three years. • Service Marketing Program • a) We will offer standard services with fixed prices. i.e. oil changes, brakes, tire servicing, and from time to time, offer specials and discounts by coupling these services in convenient packages. • b) Target Companies and firms to provide service to both the company and their staff. Butterfield Hyundai, Ltd.ServiceDepartment Business Plan

  16. Target: $6,500 Parts & Accessories Income/Month We expect to be able to immediately tap into the Hyundai parts and accessories market based on the number of Hyundai vehicles already on the island. Butterfield Hyundai, Ltd.PartsDepartment • Target Objectives: • Parts Marketing Program • We will strive to maintain adequate stock levels of Hyundai parts. • 2) Parts Inventory • An account has already been established with DHL to provide two day service for slow to virtually dead moving items to minimize holding excessive sums of this type of inventory • Parts Department Procedures • Currently using ADP to handle, sales, service and parts. The system has proven to be very effective in tracking loss sales, thus improving our ability to maintain the best assortments and levels of inventory. Business Plan

  17. Strategies Initiatives HR Training a) Sales associates to have thorough knowledge of each vehicle model, and will be required to learn all features. This includes how to activate and use them, as well as advantages of the Hyundai models over other brands. b) Employee is required to have a basic knowledge of each vehicle. c) To have the appropriate staff participate in Hyundai organized training programs and meetings d) Have staff participate in refresher courses. 2) Employee Involvement a) Establish staff referral incentive program for any customer referred that results in a sale or service job. b) Provide discounts on parts and services to staff, family members and associates. Butterfield Hyundai, Ltd.H.R. Department Business Plan

  18. Butterfield Hyundai, Ltd.Turks & Caicos Islands. Hyundai Dealership Projected Financial Statements Business Plan

  19. Butterfield Hyundai, Ltd. Business Plan

  20. Butterfield Hyundai, Ltd.Volume Proposal Retail Sales. Business Plan

  21. Butterfield Hyundai, Ltd. Business Plan

  22. Butterfield Hyundai, Ltd. Business Plan

  23. Butterfield Hyundai, Ltd. Business Plan

  24. Butterfield Hyundai, Ltd.Turks & Caicos Islands Business Plan

  25. Butterfield Motors FacilitiesLayout Business Plan

  26. I would like to thank you for the opportunity to work in partnership with potential investors. We are excited to commence on this special opportunity to partner the Hyundai Brand. Management looks forward to additional discussions on establishing the first Hyundai branded dealership within the Turks & Caicos Islands. Please contact Adulson A. Butterfield, MBA. for additional information if needed. Contact Details below: Email: Hyundaitci@aol.com Tel: 649.333.3868 Thank you Business Plan