THE INDIAN INSTITUTE OF PLANNING AND MANAGEMENT
BUSINESS PLAN
PRIVATE EYE DETECTIVE AGENCY
SUBMITTED TO SUBMITTED BY
Prof. Swapan Das Gupta
MITHLESH KUMAR
TABLE OF CONTENTS
PARTICULARS PAGE No 1. BACKGROUND
Global analysis
Indian market analysis 4
4
8 2. PURPOSE 9 3. OBJECTIVE
Vision
Mission 10 4. MARKET ANALYSIS 11 5. PRODUCT AND ITS DEVELOPMENT
Product description & specifications
Resource Requirement
Quality Assurance 12
12
15
16 6. MARKETING
Marketing Strategy
Sales forecast 17
17
20 7.
8 FINANCIAL PLAN & PROJECTION
Strategy
Resources
Financial statements and projection
ORGANISATION & MANAGEMENT 21
21
21
22
27
Legal Form
Equity position
Key Personnel
HR Policy & Strategy 27
27
27
28 9. CRITICAL RISK & CONTENGENCIES 33 10. APPENDIX
Action plan
Working note of Financial projected 34
34
35
EXECUTIVE SUMMARY
PRIVATE EYE will be considered as a private detective agency in India for private investigations conducted by experienced detectives and investigators in India based in Gurgaon. Since the crime rates are going up day by day and there is a lot of Red Tapism in our Police and other government runs organization so there’s a good opportunity for us to venture in a plan like this.
PRIVATE EYE Detective Agency will provide services to the Corporate, Small Business houses, legal community, insurance sector, claims adjusters, and the general public. We will undertake Private Investigations in India as well and possess the ability to resolve a case with Indian efforts, anytime, anywhere! We will be maintaining association with dozens of qualified private investigators and detectives in India. Besides carrying out any private investigation in Delhi, we possess the capability to carry out investigations in India.
It’s a partnership firm with 9 members. The management team consists of 2 active partners who will be looking after all the activities. Other 7 are sleeping partners. As far as resources are considered we are taking a long term loan of 6 lakhs and active partners contribution will be 4 lakhs each while sleeping partners are contributing 2 lakh each. So total capital will be 28 lakhs.
Our break even is estimated in about 4 years i.e. in 2010.
background
Global Analysis
The security industry is a growing, rapidly evolving industry sector. The growth is spurred by the continual evolution of technology that provides both security and convenience and the fact that prices for security services are very reasonable. Crime also drives the security industry. While crime rates have dropped, the random nature of crime, combined with competitive process and built-in convenience features with security systems, make them attractive for purchase. The electronic security business is a business that constitutes more than $30 billion per year. When you factor in other security services such as guards, fences and the like, the industry climbs to more than $100 billion. For many, good security combines the use of technology with good practices. In other words, it is where a state-of-mind meets state-of-the-art. The state of mind is understanding how to be safe and secure and incorporating those practices into every day life. The state of the art is the security technology and services. Security systems are not just alarms or guards, they are a combination of technology and good human practices, ones that make you, your family, and your business secure, while also adding to the quality of your life.
THE Information Systems Security (ISS) sector could well become the next playground for career building, observe industry analysts.According to a study by business intelligence firm IDC, the main security software markets - firewalls, encryption software, security authentication, authorization and administration (3A) and antiviral software — grew by 25 per cent in 2001. IDC expects the value of the global information security services market to triple by 2005 to more than $21 billion a year. IDC believes that thee demand for ISS services would escalate quickly, in rapid growth markets such as Asia-Pacific, Latin America and Western Europe. Of these, Asia Pacific is tipped to emerge as one of the strongest markets for security services, growing almost 30 per cent every year.
Revenues from the administration, authorization and authentication markets, the key security technology areas that would enable e-businesses to expand their customer bases and increase online transactions are expected to grow 28 per cent annually up to 2005. This high growth potential of the ISS segment is making it a future hot bed for jobs and hiring. Industry analysts say that the scenario was changing rapidly among Indian organizations, as the corporates have started taking cognizance of the future and have begun to guard against virus attacks, unauthorized entry into their networks, net fraud and corporate espionage.
The IT Security Survey 2000 — a study conducted among 72 Indian companies by PricewaterhouseCoopers and the Confederation of Indian Industry (CII) revealed that information security was top priority for 74 per cent of the businesses covered, even though currently only 17 per cent of the respondents had a comprehensive policy to monitor security services.
The study further revealed that business planners had started allocating larger budgets for securing their data. Those that sold products or services over Web sites were likely to strengthen their information security infrastructure.
Clearly, this focus on security management would lead to a corresponding need for manpower resources skilled in areas such as network monitoring, deployment of anti-virus software and the development and monitoring of gateways and firewalls. Information, the prized possession of organizations all over the world is increasingly under threat from cyber terrorism. Information Systems, long touted as stepping-stones to major bottom line and productivity benefits for companies, have finally revealed their Achilles heel-security, or possibly the lack of it! The market for electronic, optical, acoustic, security, detection, monitoring and surveillance security systems will enjoy solid growth in the next five years, reaching $18.8 billion in 2006, according to new research from Business Communications Company Inc.
The Connecticut-based market researchers predicted an AAGR of 11.1 percent for the market -- estimated at $11 billion in 2001 -- on the back of recognition that traditional security systems are inadequate protection against present-day criminals or terrorists. The study divided the security market into seven segments: access control, acoustic monitoring, biometrics, detection systems, electronic article surveillance, law enforcement, video monitoring and security alarm systems.
Detection systems such as explosive and rug detectors also developed strong growth potential in the last few months, BCC said. Companies in this segment experienced large increases in their order books since the Sept. 11 attacks Manned–Guarding is the one area in the private security industry that causes the greatest controversy and generates the most concerns. From time to time, the media has exposed examples of guarding companies that were set up by criminals whose sole intention has been to more easily and openly engage in criminal activities. Very often, the victims of such criminal acts, were the naive and trusting clients who contracted the unscrupulous company in the first place to protect their goods and premises. For many years, various governments have toyed with the idea of regulating the security industry so as to filter out the unsavory element. Finally, in the UK, after much internal and external pressure, the current government under Mr. Tony Blair has got its act together and has put the Private Security Industry Act 2001 on the statute books.
This legislation now makes it compulsory for security companies in the UK to register their business interests and to become licensed. It necessarily follows that before a license is issued, the applicant has to be vetted. The provisions in the act make it an offence for any person to work in the industry without a license. Obviously, the vetting process will weed out the unsavory or criminal element because they will be refused a license.
Bouncers, wheel - clampers and executive protection officers who work in-house as well as under contract.
The supervisors , managers and directors of security and wheel clamping companies
Manned Guarding personnel, security consultants, private investigators and professional key holders.
Not with standing, several of the major service suppliers have already grouped together and established norms for their members in the industry. For example, the British Security Industry Association (BSIA) or the International Professional Security Association (IPSA), have always vetted applicants to their business. It is doubtful if these internal controls will be relaxed despite the new legislation. These two associations have internal regulatory bodies that establish and control best working practices for their members businesses. Other guarding companies have adopted BS 4799 as their foundation for self-regulation and this governs such things as the minimum requirement in terms of staff vetting and adequate insurance indemnity provision. It is fair to say that the vast majority of the service providers in the manned guarding industry offer an efficient and effective service to the consumer. However, it is incumbent upon any prospective client to make enquiries so as to establish that their chosen service provider is operating as a legitimate guarding company. That they have the necessary insurance indemnity and their operatives are properly licensed. Additional proof of legitimacy can often be achieved by requesting, from the service provider, a current client list and then approaching those named clients for any recommendation (or otherwise) that they would care to make about their guarding company. A question that is often asked by prospective clients is "What redress do I have if I engage a guarding company and whilst they are in sole control of the building or site the premises are broken into and property is stolen?" The answer is, the client should make adequate provision for protecting valuable and vulnerable property and have sufficient insurance to cover the loss, should negligence not be established against the guarding company by the client’s own insurers. If negligence on the part of the guarding company can be established, then the guarding company’s insurers will stand the loss. Similarly, it is critical that the client thoroughly examines the guarding company’s contract and terms of engagement for possible "get out clauses" before signing it.
Indian Market:
Security in the Indian market place was more of a chowkidaari concept where the consumers were only interested in the height and built of an individual without giving importance to the organization behind the man or the vetting, training and skills of the concerned chowkidaar or security guard as you may now call him. Today times have changed and so have the demands of the customers. Security Industry don’t only mean man guarding. Also includes. It also includes detective services, Information protection etc.
With the advent of multinational companies and the ex-pat managers who have had exposure to international ways of working and servicing, the Indian security industry has seen a tremendous growth in the last 10 years. Many companies have emerged.
Mumbai, India’s financial hub is the only city in India where security has been recognized as an industry. But now it has spread into many cities especially in metros where all the multinationals are present.
The current government is in the process of streamlining the irregularities in the act and will be promulgating a new scheme shortly which not only holds the private security companies responsible for any violations in the governing act but also makes the security guards and the principal employer criminally accountable.
purpose
The scope of this industry is showing positive trend as number of crimes are increasing everyday and the amount of legal formalities and complexities involved in solving the cases. The business we are planning to start is basically in unorganized sector. The competition is from the private detective agencies namely Indian Detective Agency, Globe Detective Agency, VDetect Agency and few other big players in the market.
In these dynamic and exiting times of fierce competition, information holds the key to realization of dreams, both on personnel and professional front. Decisions made by u today will impact you for the rest of your life and shape the future of your organization. Therefore, corporate decision-makers are increasingly turning towards professionals in the field of investigation and detection to base their strategies on reasons and fact and not on beliefs.
With a mission to provide towards delighting our customers by providing committed, ethical, efficient & cost effective services while constantly adding value through innovations in our services reliable and accurate information to the corporate sector, PRIVATE EYE Detective Agency is going to be established in April. 2006. PRIVATE EYE Detective Agency is equipped with the latest state of art surveillance and detection equipment to compliment our team of professional investigators.
We at PRIVATE EYE have planned to set up our business in Gurgaon .The reason being land cost is not high as in Delhi. Also the crime rates has been on increasing trend in the capital city, which is evident by increasing number of crimes being committed and recorded at police stations.
OBJECTIVE
VISION
To establish as the No.1 Total Security Solutions provider in India and build PRIVATE EYE as a global brand in the international security industry.
MISSION
We will strive towards delighting our customers by providing committed, ethical, efficient & cost effective services while constantly adding value through innovations in our services and upgradation of our skills. We will offer our human assets a challenging & healthy work environment, where individuals are nurtured, performances are rewarded and opportunities are provided for continuous growth & development.
MARKET ANANLYSIS
MARKET ANALYSIS
There are now not so many big players in the market. Players like Vdetect, PRIVATE EYE etc are few main players. With increasing crime rate the market has got a tremendous opportunity to grow at a very fast rate.
Security industry is divided in many parts. But our focus is on detective services mainly. Detective services market after September 11 attacks have increased a lot in India also. As there are large number of multinationals operating in India. Also the crime rate has gone up in Delhi NCR region. A report by National Crime Records Bureau (NCRB) on "Crime in India", related to 2004, the NCRB states that a total of 56,31,172 cognizable crimes were registered of which 19,80,330 were crimes attracting provisions of the Indian Penal Code. And among the 35-mega cities Delhi accounted for around 12% of this.
Due to red-tapism in the Police Department, many people do not find justice for themselves. Either they do not register their cases or they give up the cases in between or sometimes they become the victim of injustice.
So, the market of detective agency is very bright.
Competitive factor
Service delivery time
Consistency
Authenticity
Confidentiality
PRODUCT & ITS DEVELOPMENT
DESCRIPTION & SPECIFICATIONS
SERVICES WE OFFER:
CORPORATE SERVICES
Asset Verifications
Do you know the financial position of the one you’re thinking of having a business relationship with? Not sure? Try us and you’d be surprised.
Due Diligence, Credit Worthiness & Competitive Intelligence
Your competitor’s management team makes monthly trips to Las Vegas. Perhaps it’s time you found out why.
Patent, Trademark & Copyright Infringement
Many counterfeit products go undetected because they are so similar to the authentic product that even the manufacturers remain unaware of the problem. We will identify and determine the production source and distribution channel of those products.
Pre-Employment Verifications
Your employees not giving 110%? We’ll find you some who will. Your competitor just hired the biggest expert in the industry? We’ll get that expert on your team.
Post-Employment Verifications
Don't know the reason for your ongoing financial loss. You’d be glad to know what your employees have been upto behind your back.
Frauds, Cheating & Embezzlements
If your don’t know who did it, we’d tell you. But if you do know who did but don't know how and why and where has the culprit fled, all your questions are about to be answered!
Under-Cover Operations
You need to know something. You don’t know how to get it. Call us. We’ll do the rest.
Industrial Espionage & Counter Espionage Get in. Get the information. Get out. It’s what we do best.
Risk Analysis
How safe is your information? How safe is your company? We’ll find out for you.
Bank Frauds
We can do a forensic accounting for you. We have investigators who specialize in typical banking-type frauds.
Covert Operations
Sensitive business meetings? We'll make sure no one knows they are going on.
PERSONAL SERVICES
Pre-Matrimonial Investigations
You never know your daughter could be getting to married to a creep! Don’t gamble, be sure her hand’s given to the right man.
Post-Matrimonial Investigations
Your wife makes monthly trips to New York. It’s definitely time to find out why.
Spouse Fidelity
You are certain that your partner is not faithful, but cannot prove it. You cannot…. Perhaps we can.
Alimony / Divorce Cases
Thank God for our investigative services! The court shall know exactly what to expect from you in alimony.
Missing Persons
If he’s anywhere in the universe, we’ll find him.
Kidnappings
We will get you the master plan used, the kidnapper & your loved one. Thefts & Burglaries
From spot-checks to forensics, there is nothing we do not do to give you your culprit.
SPECIALIZED SERVICES
Surveillance
Maybe your partner is not being as faithful and honest as you, a business associate might be trying to defraud you. Perhaps someone you care about has started a habit that is going to be harmful to them.
Perhaps you suspect that your employee is not acting, as you would expect them to. You need to be 100% certain before you take any action, but what if you are certain yet unable to prove it?
LEGAL & INSURANCE SERVICES
We acquire financial information on an individual or company, as well as information useful for legal proceedings.
Litigation Support
Obtaining Proof and Evidence
Process Serving
Verification of Insurance Claims
Identifying and Witness Location
RESOURCE REQUIREMENT
Staff Required:
Manager (1)
Detective agents (3)
Receptionist (Customer Service Representatives) (1)
Data entry operator (1)
Security personnel (1)
Worker for performing maintenance functions (office boy) (1)
Driver (1)
Equipment:
Furniture
Split Air Conditioners (1)
Refrigerator (1)
Computers (3)
Printer (1)
Fax machine (1)
Phones and intercom (3)
Revolver, lens, and other equipment needed in the process of investigation
Stationary items
Official car (2)
SERVICE PROTECTION (QUALITY ASSURANCE)
Confidentiality is paramount in our work. Once you have instructed us, we will only report to you or any one else you specify, such as your legal representative. We are under no obligation to inform any third parties of what we are doing and for whom. Our way of conducting the assigned case is 100% confidential as even our field investigators does not know that the operation they are going to handle, is for what purpose and who is our client. All the conversations and reports are being kept in such a confidential manner that only assigned chief of that particular case can unlock the protected area by certain codes, as and when required.
We commit to secure our customer's tomorrow, today, by providing ethical, efficient, effective & value added security services, which in turn will strengthen our Brand credibility and enhance customer satisfaction levels. We are committed to comply with and continually improve our Quality Management Systems through a constant and focused approach of monitoring, analysing, reviewing and upgrading our processes through regular Quality Audits and Management Reviews.
MARKETING STRATEGY
Marketing mix
Distribution:
We do not have any distribution strategy initially because we are starting our business from one office at Gurgaon.
Pricing:
Our charges are based on the type of operation that we have been asked to undertake. To establish the costing, we first request the details of the case to be transmitted to us and we will calculate a budget and time-scale. Once this has been agreed, we then require a retainer based on the budget to begin the operation.
Promotion:
Our communication objective would be category need establishment initially, then creating awareness of our presence among people then we would focus on developing brand attitude of the target customers about our service.
Every day, every individual/every business firm becomes the victim of crimes by some way or other but sometimes he/she ignores it or does not dare to take action because of the fear of being exploited, failure and so and so reasons. So he/she prefers to avoid raising his/her voice. Our motto is first let those people know about the seriousness of those crimes in which either they are victim or can become the victim in future and give justice at right time and right place.
Strategy 1 - Networking & Referrals - Using existing contacts and clients to build a larger network of potential clients.
Strategy 2 - Web promotion - Using a web page to showcase the owner's skills and knowledge, providing an "electronic brochure" as well as useful technical information free of charge.
Strategy 3 - Advertising - Traditional methods such as Yellow Page ads, newspaper classified (TIMES OF INDIA) and display ads, local television cable access advertisements. Advertisements will be planned in such way so as to reach maximum corporate target people who are Newspaper imperative.
Strategy 4 - Non-traditional - Creative and unique advertising such as door hangers, bumper stickers, etc.
Guarantee
In PRIVATE EYE we do not charge anything for the case if we do not succeed, as we only charge for results.
We solve the cases in less time than our competitors.
TRACKING METHOD
The following is our feedback form to be filled by our esteemed clients so as to have a first hand knowledge of all their important queries.
Please Fill the Inquiry Form (All The Fields marked With * are Compulsory) Top of Form
NAME * ADDRESS * PHONE * FAX EMAIL * COMMENTS* Bottom of Form
Sales strategy
Initially we are targeting corporates only in Gurgaon for the first three months. Basically our intention is to adopt Porter’s focus strategy in which we have segmented our reach into small small segments in North India and we have planned to start by focussing on those above areas. By that way we will be benefited by getting a more detailed understanding of those particular segments and can create a barrier to the entry of new entrants and more importantly we can generate the ability to concentrate our efforts. Looking at the intensity of the crime at the projected areas we are presuming that we can cater up to 40-50 cases within first three months.
TARGET MARKET
We are going to cater the corporate, small business firms, people with pending cases and each and everyone suffering from social, legal and personal atrocities.
BUSINESS LOCATION AND SIZE
As our business is related to the corporate and business firms so the ideal location will be a place where the large number of corporate offices are situated, so that it should be easily assessable by the corporate people helping our business to grow in short span of time. For the same we have decided to open our office in Gurgaon where we can simultaneously handle both corporate as well as personnel/personal cases. Also we can cater to the National capital region (NCR).
For the purpose of our business we need 500sq ft. of floor area, which will have different cabins namely for:
Reception and waiting,
Client interaction and discussion,
Back end work
Board room and others
Competitive advantage
Our strength lies in the fact that we can bring our resources and a dedicated team of professionals to consistently deliver high level of services, superior supervision and street knowledge to work for our clients. Our agency investigators are handpicked individuals, screened for qualities of resourcefulness, integrity and quick decision making abilities to deliver results to you that are authentic, timely, gainful and confidential.
SALES FORECAST
A report by National Crime Records Bureau (NCRB) on "Crime in India", related to 2004, the NCRB states that a total of 56,31,172 cognizable crimes were registered of which 19,80,330 were crimes attracting provisions of the Indian Penal Code. And among the 35-mega cities Delhi accounted for around 12% of this.
Due to red-tapism in the Police Department, many people do not find justice for themselves. Either they do not register their cases or they give up the cases in between or sometimes they become the victim of injustice.
In starting we are aiming only at 0.1% of the registered cases. There is tremendous growth opportunity in this business. There is no need to register the most of the corporate and personal investigation cases, where the matter of asset verification, pre or post matrimonial investigation etc. are involved. But these are done in ample amount by the investigation agencies and we are considering these services as the basic services provided by our agency.
In the starting we are looking forward to get around 16 cases in a month, means around 200 in a year and thereby we are expecting to grow by 15% from next year.
FINANCIAL PLAN & PROJECTION
STRATEGY
The first 2 years we will be incurring losses.
Our breakeven will be at the end of 4th year (calculations done in projection part)
The long term debt will be totally repaid till the end 5th year, since profit will be enough to support our activities.
The sales forecast is just 0.1%, so the chance is more that we can get more cases to solve and get more revenues out of it.
RESOURCES
Term Loan -6 lakhs for 5 yrs.
Two active partners will contribute 4 lakhs each as equity capital.
Other partners will contribute 2 lakhs each.
Total capital we will be having is 28 lakhs.
STATEMENT OF PROFIT & LOSS PARTICULARS 31-Mar-07 31-Mar-08 31-Mar-09 31-Mar-10 31-Mar-11 Revenue 1,440,000 2,592,000 4,665,600 7,290,000 9,000,000 Operating Expenses 120,000 140,000 160,000 180,000 200,000 Operating Profit 1,320,000 2,452,000 4,505,600 7,110,000 8,800,000 Administrative Expenses Salary 1,416,000 1,960,800 2,975,040 4,246,560 5,124,000 Pre-incorporation Expenses 25,000 0 0 0 0 Promotional Expenses 1,124,000 600,000 600,000 600,000 600,000 Rent 200,000 220,000 242,000 266,200 292,820 Interest 72,000 72,000 72,000 72,000 72,000 Depriciation 137,900 137,900 137,900 137,900 137,900 Profit Before Tax -1,654,900 -538,700 478,660 1,787,340 2,573,280 Tax 0 0 188,879 705,284 1,015,416 Profit After Tax -1,654,900 -538,700 289,781 1,082,056 1,557,864
PROJECTED
BALANCE SHEET PARTICULARS 1-Apr-06 31-Mar-07 31-Mar-08 31-Mar-09 31-Mar-10 31-Mar-11 CAPITAL & LIABILITIES Capital Equity Capital 2,200,000 545,100 6,400 296,181 1,378,237 2,936,101 Loans & Advances Long term loan( @ 12%) 600,000 600,000 600,000 600,000 600,000 0 Total Liabilities 2,800,000 1,145,100 606,400 896,181 1,978,237 2,936,101 ASSETS Fixed Asset Furniture 100,000 100,000 90,000 80,000 70,000 60,000 (Dep) -10,000 -10,000 -10,000 -10,000 -10,000 Car 350,000 350,000 280,000 210,000 140,000 70,000 (Dep) -70,000 -70,000 -70,000 -70,000 -70,000 Durables 386,000 386,000 328,100 270,200 212,300 154,400 (Dep) -57,900 -57,900 -57,900 -57,900 -57,900 Net Fixed Assets 836,000 698,100 560,200 422,300 284,400 146,500 Current Assets Cash 1,964,000 447,000 46,200 473,881 1,693,837 2,789,601 Total Assets 2,800,000 1,145,100 606,400 896,181 1,978,237 2,936,101
PROJECTED
CASH FLOW STATEMENT PARTICULARS 31-Mar-07 31-Mar-08 31-Mar-09 31-Mar-10 31-Mar-11 CASH FLOW FROM OPERATING ACTIVITIES net profit before tax & dep -1,582,900 -466,700 550,660 1,859,340 2,645,280 dep 137,900 137,900 137,900 137,900 137,900 cash generated from operations -1,445,000 -328,800 688,560 1,997,240 2,783,180 interest paid 72,000 72,000 72,000 72,000 72,000 direct tax 0 0 188,879 705,284 1,015,416 net cash from operating activities -1,517,000 -400,800 427,681 1,219,956 1,695,764 CASH FLOW FROM INVESTING ACTIVITIES purchase of fixed assets -836,000 0 0 0 0 net cash used in investing activities -836,000 0 0 0 0 CASH FLOW FROM FINANCING ACTIVITIES proceeds from equity capital 2,200,000 0 0 0 0 proceeds from long term borrowings 600,000 0 0 0 -600,000 net cash used in financing activities 2,800,000 0 0 0 -600,000 net increase in cash 447,000 -400,800 427,681 1,219,956 1,095,764 cash as on 1 apr 0 447,000 46,200 473,881 1,693,836 cash as on 31 mar 447,000 46,200 473,881 1,693,836 2,789,600
RATIO ANALYSIS 31-Mar-07 31-Mar-08 31-Mar-09 31-Mar-10 31-Mar-11 Leverage Ratio Total Debt ratio 0.52 0.99 0.67 0.30 0.00 Debt equity Ratio 1.10 93.75 2.03 0.44 0.00 Interest coverage Ratio -20.07 -4.57 9.56 27.74 38.66 Activity Ratios Asset Turnover Ratio 1.26 4.27 5.21 3.69 3.07 Working capital turnover 3.22 56.10 9.85 4.30 3.23 Profitability Ratios Gross Margin -1.10 -0.18 0.12 0.26 0.29 Net Margin -1.15 -0.21 0.06 0.15 0.17 PAT to EBIT Ratio 1.05 1.15 0.53 0.58 0.59 ROI -1.45 -0.89 0.32 0.55 0.53 ROE -3.70 -11.66 0.61 0.64 0.56
Breakeven Analysis Year Total cost Total revenue 2007 3,721,000 1,440,000 2008 6,641,800 4,032,000 2009 10,618,840 8,697,600 2010 15,911,600 15,987,600 2011 22,128,420 24,987,600
Our business is going to breakeven in about 4 Years.
ORGANISATION & MANAGEMENT
LEGAL FORM
PRIVATE EYE is a partnership firm having nine partners namely Anjani Laxman Jain,
Biren Kumar Mishra , Chandan Choudhary, Dhruva Poonia, Himanshu Joshi, Nisha
Makkar, Pooja Agarwal, Raj Kumar, Sajath Mohan
LIST OF CONTRACTS AND AGREEMENTS
A partnership deed between the partners will be made under the Partnership Act 1932.
The partnership firm will be registered under the Partnership Act 1932.
EQUITY POSITION
Total cpital employed is 28 lakhs- out of this 4 lakhs are being contributed by active partners and 2 lakhs each by other partners. So, the total equity capital comes up to 22 lakhs (4* 2 members+ 7 * 2memebers=22)
KEY PERSONNEL
Chandan Choudhary - Managing Directors
Dhruva Poonia – CEO
All other are sleeping partners.
HR POLICY & STRATEGY
All the partners will be going to attend a minimum of 30 days workshop in Indian Detective Agency, which will be having the following schedule:
Background Investigations 3 days How to fetch information about an inquiry. Shadowing Techniques 5 days How to follow a target that they are assigned. Tracing an Individual 3 days. They will have to trace a person that is supposed to be missing eg: a borrower of a bank Infringement Of Trademarks 5 days Watch/Inquire/Follow the target from the point of sale to the point of manufacturing. Insurance Frauds 3 days They will be assigned a case of false medical claimant or faked vehicle theft insurance. Bank Frauds 3 days Identifying signature frauds, tracing the assets of the borrower who has committed a fraud. Electronic Gadgets 3 days Techniques of investigation using various gadgets. A final test assignment 5 days Will be decided later
Total number of workshop days = 30 days
CONTRACT PROFESSIONONALS
With the existing 3 contract detective agents for 1 year, we have association with the Law firm of Delhi. So whenever we get any difficult case that requires any special expertise we can get help from our tied-up law firm in terms of getting expert lawyer and effective concept. Moreover, we can expect more clients/cases forwarded by the law firm those require investigations by the detective agency. Apart from these sometimes we hire experienced detective agents from outside give some extra advantage than that of what our competitors give.
The partners of the firm do all the managerial level work, so we are not hiring anybody from outside for this purpose.
PEOPLE’S PHILOSOPHY:
PRIVATE EYE©™ believes in treating its employees with care and concern. For an organisation that is primarily made up of human resources, treating them well and with respect is our utmost concern. PRIVATE EYE©™ believes that its employees come first and it's because of them that business follows and not vice versa. When the systems, structure, policies, procedures and practices of an organisation are designed and lived out so that employees genuinely feel that they come first, trust is the result.
Even the mission statement of PRIVATE EYE©™ speaks about building our human assets by giving them a challenging & healthy work environment, where individuals are nurtured, performances are rewarded and opportunities are provided for continuous growth and development.
Developmental Programs : Within PRIVATE EYE©™, there are many continuous and time bound developmental programs for all Its men at every level:
Induction Training: Every newly recruited Private Eyeman©™ has to undergo a minimum 7 days - 27 days induction training program. The USP of this program is that the trainee is trained in an environment akin his/her actual work environment and is trained and counseled by a peer during the training. The training is generally followed by an assessment by the trainer and an examination.
Peer to Peer Training: PRIVATE EYE©™ helps develop the spirit of Togetherness by bonding the new inductees along with senior and respected Its men. Besides training, the new inductees are automatically made comfortable in the new environment and this aids them a lot in their developmental years.
On-the-job-training: As per our training procedures, it is mandatory for every direct and indirect member to be continuously trained throughout his/her career for continuous development in weak areas. In the beginning of the year, a training calendar is made Every employee desirous of learning new skills ranging from manners & etiquettes to how to work on MS Excel to advanced courses such as preparation of disaster management plans or better report writing techniques, etc are taught in these training programs.
Awards and Rewards: All round the year, there are monthly, quarterly and yearly appreciation programs for our Its men such as:
Employee of the Month Award has been introduced to recognize and reward an achiever. This award is conferred on the employee who has shown tremendous leadership qualities, excelled in his/her work, achieved the desired results and most importantly, has gone beyond his call of duty to deliver exceptional services to his external or internal customer
Monthly Review Meetings - The Monthly Review Meetings are termed as Management Review Meetings where the performance of each department, division and company is discussed thread-bare. The main objective of the Management Review Meeting is to interactively analyze the last month's performance of the group versus the targets set for the month in question. Gaps if any are eradicated and corrective and preventive measures are undertaken to ensure that all errors and risk factors are mitigated immediately.
Weekly Review Meetings - These meetings take place between the top management and 2nd group levels for discussing micro issues and sorting them out within deadlines. This platform is also used for monitoring the progress of projects, tasks on hands and general discussions on improvements.
Grievance Cell: Our office has a dedicated grievance cell headed by a MD who is responsible for ensuring that all grievances of our direct staff members i.e. our guards and officers are handled and solved within a maximum time period of 24 hours. This concept offers a comfort zone for our thousands of Its men as they know that they are looked and cared after.
Big Brother Concept: Every new Private Eyeman™ post completion of the induction training and on successful assessment clearances from superiors and examination clearances, is assigned a Big Brother / Big Sister at the work place. This concept has been introduced to ensure that during the initial settling down stages, the new inductee is directly attached to a senior who not only assists him/her in becoming more comfortable with the new work environment but also helps inculcate the values and thinking of the organisation into their minds. Besides helping in official matters, the Big Brother or Big Sister is also available for any personal assistance.
Career pathing: PRIVATE EYE©™ always believes in doing its business differently from others. Every Private Eyeman™ or Private Eyewoman™ in PRIVATE EYE©™, is not a worker in the company but is a wholesome part of the PRIVATE EYE©™ family. PRIVATE EYE©™ is well renowned for its recognition of talents and promoting them. Performers are rewarded in PRIVATE EYE©™ and examples are set for others to see and learn. In our organisation, we believe, that every one of us is a driver and there is JUST NO SPACE for passengers. It is an old saying within the group that "If you are able to survive the first 6 months in PRIVATE EYE©™, then you will never leave the organisation".
Payment of wages & benefits on time: PRIVATE EYE©™ always believes in paying its men on time. Every direct or indirect member of the family across the country, are paid their wages/salaries and benefits by the 07th of every month.
100% transparency in employee dealings: PRIVATE EYE©™ has always believed in being absolutely Transparent and True to its customers and employees alike.
Communication with our Its men: We at PRIVATE EYE™ believe in communicating with our Its men continuously and at all levels. Communications are done daily, weekly, monthly, bi-annually and yearly such as:
Corporate Communication - In any organisation continuous, detailed and transparent communication plays a very vital role in its development and growth. In our organisation owing to the sensitive nature of our business, we believe in documenting and transmitting all MK (Must Know) and SK (Should Know) information regularly to the regions / branches..
Inner Circle - This highly dynamic bulletin board on our website enables the quick and transparent flow of communication across our offices. It is one of our best and widely used tools of communication.
Weekly E-mails and SMS's - In its unending endeavor to delight the customer, PRIVATE EYE©™ has introduced the system of sending Security Tips to its existing and prospective customers on a weekly basis, which educates our customers on various aspects of security and how to get better equipped to handle any crisis. Similarly, through Short Messaging Services (SMS), PRIVATE EYE©™ remains in constant touch with all the regions & branches and customers alike.
Weekly website updation - The systems department at PRIVATE EYE©™ constantly updates its internal as well as external customers the latest information about PRIVATE EYE©™ and the industry at large.
Monthly marketing bulletins - Another medium of transmitting information to our internal customers and to keep them abreast with the latest happenings at PRIVATE EYE©™. It also gives information of the performance of each region in that particular month.
Quarterly Private Eye Bulletin - Private Eye Bulletins are a means of communication with our guarding personnel. PRIVATE EYE©™ believes in its employees' happiness and all information related to the organisation as well as information and decisions directly benefiting the direct team members are communicated through the Private Eye Bulletin on a quarterly basis.
critical risk & contengencies
Risk assessment
There's no denying that the work is risky, often getting very dangerous. We may have to work round the clock, and may even have to put our life at stake. We will interact with all sorts of people, ranging from slick underworld dons to roadside goondas. We may not have a life as glamorous as James Bond's.
Risk assessment for an unorganized sector is itself difficult. In the business of private investigation is lies in the nature of business because this business counters with danger of life. Lot of personal risk is involved in this with concern to the safety of the investigator. As it is an unorganized sector so the risk of not getting the government aid it also there. Not much help is available from the government.
PRIVATE EYE is an inexperience player in this field so the established players will take the advantage of that. Therefore, the risk of opportunity loss is there.
Sometimes in private investigation investigators have to break the law to gather information and that sometimes, put him into the risk of being caught by the law enforcers.
Contingency plan
Since it is a partnership firm so we have got enough capital backup with us. We also have contact with different and efficient agents, in case we require more manpower.
appendix
Action plan
BUSINESS PLAN PRIVATE EYE DETECTIVE AGENCY
2
IIPM, FN-2, FW 2004-06
JOIN “THE NATIONAL INSTITUTE OF PRIVATE INVESTIGATION”
JAN 2006
APPLICATION FOR LOAN
FEB 2006
APPLICATION FOR REGISTRATION
FEB 2006
WILL GET LOAN AND REGISTRATION IN
MARCH 2006
HIRING OF PROFESSIONAL AND RECRUTING THE EMPLOYEES
MARCH 2006
PURCHASES OF ASSETS
END OF MARCH 2006
STARTING DATE
1st APRIL 2006
ADVERTISEMENT
1st APRIL 2006