PisoWifi |
Piso Wifi Vending Machine PH |
Princess Dangupon +(63949)880 4399 |
offering affordable wifi |
kiosk |
₱zero |
₱P 26000.00 - P 34500.00++ depending on the added options |
zero |
zero |
zero |
After Sales Support |
You just have to place it to a feasible area that people stays for 30 mins (Restaurant, computer shop, laundry shop, dormitory/apartment or community with high population, near schools) |
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Start your own wi-fi kiosks business plan
Stroll Net will provide a unique forum for communication and entertainment through the medium of public Internet access. In the first year, we will set up 16 Internet-enabled pay-kiosks in public spaces throughout Tech City, in locations frequented by business travelers and students, but with no nearby internet cafes or other similar competition. Our flagship location will be next to the downtown bus and train station, where, for less than a dollar, travelers can check email, locate phone numbers, and look up directions on any of the multiple online-mapping sites. They can also simply surf the net, as their time and budget allows. By accepting both real money (coins and dollar bills) and credit cards, we can catch both the casual browser and the traveler with money to burn.
Stroll Net is the answer to an increasing demand. Americans want access to the methods of communication and volumes of information now available on the Internet, at a cost they can afford, and in such a way that they aren’t confined to a bedroom or office desk. Stroll Net’s goal is to provide the community with a convenient and affordable way to access the Internet away from home and the office.
This business plan is prepared to obtain financing in the amount of $299,671. The supplemental financing is required to begin the purchase of public Internet terminals, the purchase of an office warehouse, office equipment and supplies and company vehicles, and to cover expenses in the first year of operations. Additional financing has already been secured in the form of $10,500 of personal savings from owners Cam Piotr and Bob Green, and a long-term loan of $100,000.
Stroll Net will be incorporated as a Limited Liability Corporation. This will shield the owners, Cam Piotr and Bob Green, from issues of personal liability and double taxation. The investors will be treated as shareholders and therefore will not be liable for more than their individual personal investment of $5,250 each.
The financing, in addition to the capital contributions from the owners, will allow Stroll Net to successfully open and maintain operations through year one. The large initial capital investment will allow Stroll Net to provide its clients and customers with the most innovative public Internet terminal available. A unique and innovative product is required to provide the customers with a service that is insurmountable by any competition. Successful operation in year one will provide Stroll Net a customer base that will allow it to be self-sufficient in year two.
For an investment of $299,671, we project dividends of $100,000 in year two, and $200,000 in year three, depending on cash flows. These projections are based on actual business revenues from similar start-up customers of our internet kiosk supplier in other states. In the first year, with a break-even point of $42,599 per month, we expect revenues of $727,072 and net profit of 18.5%, or $134,305. By year three, revenues will increase to $1,136,067, and the net worth of Stroll Net will increase to $610,320. Dividends thereafter will depend on cash flows; in year five, investors will have the option of being bought out by the company owners.
As the popularity of the Internet continues to grow at an exponential rate, easy and affordable access is quickly becoming a necessity of life. Stroll Net will provide internet users and business travelers alike the ability to access the Internet, via our public Internet terminals or a wireless WiFi connection away from home and the office. For a minimal fee, internet users, young and old, will be able to access the internet while they stay in hotels, wait at airports, shop in shopping malls and so on.
We look to be the leader in introducing an innovative and quality public Internet terminal to our current market. We will add value to our community by maintaining a quality product and providing a valuable service. Our terminals will utilize the most advance technologies and our staff will possess the utmost in customer service experience.
As a start-up company, new to the industry, we must be focused and work hard to create an acceptance for ourselves and our products and services within the marketplace. The keys to our success are:
Stroll Net’s objectives for the first year of operation include:
For the following two years our growth objectives includes:
The risks involved with starting Stroll Net are:
Stroll Net, soon to be located on the south side of Tech City, MyState, will offer the community convenient and affordable way to access the Internet away from home and the office. Stroll Net’s public Internet terminals will provide full access to email, video email, the Web and other applications, such as a prepaid storefront. Stroll Net will provide clients and customers with a unique and innovative product and service.
Stroll Net’s public Internet terminals will appeal to individuals of all ages and backgrounds. The ease-of-use and instructional menu will appeal to the audience that does not associate themselves with the computer age. Great locations, such as hotel lobbies and coffee shops, will provide business people with a convenient way to access the Internet and office files away from the office.
Stroll Net is a privately-held Limited Liability Corporation. Cam Piotr and Bob Green, co-founders of Stroll Net, hold equal stock positions of 26% each as majority owners. Investors will receive one share of Stroll Net stock for every $6,244 of investment, up to 48%.
Stroll Net’s start-up costs will cover the purchase of public Internet terminals (our long-term assets), the purchase of an office warehouse, office equipment and supplies, company vehicles, capital to cover losses in the first year, and capital to cover any and all expenses required to operate business on a daily basis for the first year.
In addition, we plan on a large initial marketing/design budget, to cover the kiosk design and grand opening advertising.
Start-up | |
Requirements | |
Start-up Expenses | |
Marketing/Advertising | $4,000 |
Design Fee | $14,100 |
Freight | $6,250 |
Utilities | $500 |
Professional Fees | $1,500 |
Insurance | $1,500 |
Supplies | $500 |
Postage | $111 |
Total Start-up Expenses | $28,461 |
Start-up Assets | |
Cash Required | $60,000 |
Other Current Assets | $11,400 |
Long-term Assets | $312,810 |
Total Assets | $384,210 |
Total Requirements | $412,671 |
Start-up Funding | |
Start-up Expenses to Fund | $28,461 |
Start-up Assets to Fund | $384,210 |
Total Funding Required | $412,671 |
Assets | |
Non-cash Assets from Start-up | $324,210 |
Cash Requirements from Start-up | $60,000 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $60,000 |
Total Assets | $384,210 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $100,000 |
Accounts Payable (Outstanding Bills) | $2,500 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $102,500 |
Capital | |
Planned Investment | |
Mr. Cam Piotr | $5,250 |
Mr. Bob Green | $5,250 |
Additional Investment Requirement | $299,671 |
Total Planned Investment | $310,171 |
Loss at Start-up (Start-up Expenses) | ($28,461) |
Total Capital | $281,710 |
Total Capital and Liabilities | $384,210 |
Total Funding | $412,671 |
Stroll Net’s public Internet terminals will provide customers full access to email, video email, WWW and other applications such as a prepaid storefront. Stroll Net will provide clients and customers with a unique and innovative product and service.
Walk-up Internet Access: Customers pay with either cash or credit card and receive a specific amount of time on the terminal in exchange for their payment. Customers can surf the Internet, check email and send video email.
Wireless Internet Access: Away from the home, WiFi users can access the Internet through our Wireless Hotspots.
Prepaid Storefront: An application that allows customers to purchase products such as Prepaid Calling Cards, Prepaid Wireless Top-up, and Prepaid Mobile Content (games, graphics, ring tones, etc.).
Multimedia Advertising: Local, regional, or national companies can advertise using multimedia on-screen advertisements. Advertisements consist of full motion video “commercials,” picture files, or twelve advertising buttons.
Technical Specifications
PC Specifications
Stroll Net will be first to place public Internet Terminals in Tech City. Stroll Net will differentiate itself from other ISPs in Tech City by providing its customers with the ability to access the Internet even when they are away from their own computer.
We do not expect to replace standard internet access options (home, school, and work-based computers), but to supplement them; similar ventures, such as Internet cafes, have seen great success.
Stroll Net will obtain its public Internet terminals from Supplier One, Inc. located in Vancouver, BC. Supplier One, Inc. will provide the locating service and the hardware required to run Stroll Net. Internet access and networking will be provided through Supplier Two.
Stroll Net will invest in terminals with high-speed computers to provide its customers with a fast and efficient connection to the Internet. The computers will be reliable and fun to work with. Stroll Net will continue to upgrade and modify the systems to stay current with communications technology. One of the main attractions associated with public Internet terminals is the state of the art equipment available for use. Not everyone has a Pentium PC in their home or office.
To enhance our initial product line, we will look at a newer model of Supplier One terminal that offers a greater variety of technologies.
As we increase our presence in the public Internet access business, we will continue to seek out applications that will allow us to offer a greater variety of services. A key component of this will be customer feedback.
Stroll Net is faced with the exciting opportunity of being the first-mover in the Tech City public Internet market. The attractiveness of convenience, combined with the growing interest in the Internet, has been proven to be a winning concept in other markets and will produce the same results in Tech City.
The explosion of the Internet has been well documented. The International Data Corporation predicts that by 2004 there will be 210 million Internet users in the U.S. alone. Our increasingly mobile society manes that a large percentage of these users will access the Internet through public Internet terminals.
Research has confirmed that the demand for public Internet terminals is growing exponentially and that the number of terminals in operation worldwide will reach 434,000 by 2006. By 2007 the number of wireless Hotspots in the U.S. is expected to grow to 41,000 and generate in excess of $3 billion in revenue.
Stroll Net’s clients can be described as individual business owners and medium to large companies that provide a services to tourist and business travelers alike as well as students and everyday Internet users. Such clients include, but are not limited to; airports, hotels, truck stops and coffee shops.
Our customers can be divided into two groups. The first group is familiar with the Internet and desires a convenient and affordable way to access the Internet away from home and their offices. The second group is not familiar with the Internet, yet, and is just waiting for the right opportunity to enter the online community. Stroll Net’s target market includes people between the ages of 18 and 65. According to the 2000 U.S. Census, Tech County has roughly 490,693 residents between the ages of 18 and 65. Of these, many are already internet-savvy.
Within this group, we will target two groups in particular:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Students | 2% | 35,000 | 35,700 | 36,414 | 37,142 | 37,885 | 2.00% |
Traveling Professionals | 3% | 24,000 | 24,720 | 25,462 | 26,226 | 27,013 | 3.00% |
Other | 0% | 900 | 900 | 900 | 900 | 900 | 0.00% |
Total | 2.38% | 59,900 | 61,320 | 62,776 | 64,268 | 65,798 | 2.38% |
The explosion of the Internet has been well documented. Our increasingly mobile society means that a large percentage of these users will access the Internet through public Internet terminals. To be proactive and remain competitive it is imperative for business travelers to have reliable high-speed access to e-mail, the Internet and corporate networks. As such, it is becoming a standard for business travelers to stay only at hotels with high-speed Internet access and public Internet terminals.
Internet terminals with integrated Wi-Fi hotspots allow users to jump onto the Internet as easily as they would use an ATM. Our Internet terminals allow the public to experience rich multimedia content, that cannot be viewed on PDAs. Internet kiosks will very quickly become a standard feature of all hotels. The growth of Internet kiosks has very closely paralleled that of ATMs and payphones.
The fact that there are no public Internet terminals operating in Tech City, presents Stroll Net with a chance to seize this window of opportunity and enter into a profitable niche.
The main competitors in the public Internet terminal segment are ATT and BellSouth. However, these businesses have yet to establish a presence in Tech City and the immediate surrounding areas.
Stroll Net’s public Internet terminals will be a magnet for local and traveling professionals who desire to work or check their email messages away from the office. These professionals will either use Stroll Net’s terminals, or connect their notebooks to our wireless WiFi Internet connection. Stroll Net’s target market covers a wide range of ages: from members of Generation X who grew up surrounded by computers, to Baby Boomers who have come to the realization that people today cannot afford to ignore computers.
The important strategy focuses on pulling in power Internet users. Power Internet users are extremely familiar with the Internet and its offerings. This group of customers include students and business professionals.
The second strategy focuses on building a large loyal customer base. A large loyal customer base will serve to attract large, medium and small companies as clients for our interactive advertising service. All of the advertisements can connect the user to the advertiser’s web site. Due to the high traffic locations in which our public Internet terminals will be placed, this advertising space will be in high demand.
The Stroll Net management team has established some basic milestones to keep the business plan priorities in place. Responsibility for implementation falls on the shoulders of Cam Piotr. This Milestones Table below will be updated as the year progresses using the actual tables. New milestones will be added as the first year of operations commences.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business Plan | 10/1/2004 | 11/15/2004 | $1,000 | Cam Piotr | Admin |
Licensing | 11/22/2004 | 11/27/2004 | $1,000 | Cam Piotr | Admin |
Secure Start-up Funding | 11/29/2004 | 1/1/2005 | $1,000 | Cam Piotr | Admin |
Site Selection | 1/15/2005 | 2/20/2005 | $1,000 | Cam Piotr | Admin |
Architect Designs | 3/1/2005 | 3/30/2005 | $1,000 | Cam Piotr | Admin |
Designer Proposal | 4/1/2005 | 4/15/2005 | $1,000 | Cam Piotr | Admin |
Technology Design | 4/1/2005 | 4/15/2005 | $1,000 | Cam Piotr | Admin |
Year 1 Plan | 6/1/2005 | 6/9/2005 | $1,000 | Cam Piotr | Admin |
Personnel Plan | 7/1/2005 | 7/5/2005 | $1,000 | Cam Piotr | Admin |
Accounting Plan | 7/1/2005 | 7/5/2005 | $1,000 | Cam Piotr | Admin |
Totals | $10,000 |
WiFi hotspots offering public Internet access are everywhere you look today, from cafes to hotels, from airports to marinas. Connectivity is what travelers want, and more importantly, are coming to expect. Travelers are making decisions on where to eat, sleep and work based on the availability of wireless service.
Clients offering public internet access will be able to tap into new revenue streams and new customers, and create loyalty.
Stroll Net’s public Internet terminals make it easy to provide convenient and easy access to wireless high-speed Internet connectivity. With Stroll Net’s public Internet terminals customers will be able to connect to their corporate networks and the Internet via a high-speed wireless connection in common areas.
Stroll Net will differentiate itself by providing the community with an innovative product that offers a convenient and affordable way to access the Internet away from home and the office. Stroll Net will enjoy the traditional benefits of being first to the market. As a small company looking to establish itself, we will be attentive and flexible in meeting our customers’ demands.
Stroll Net will position itself as an aggressive, innovative company that supplies the market with an affordable way to access the Internet away from home and the office. Stroll Net will use advertising as its main source of promotion. We will acquire the services of Empire Communications Group and CyberMark International, Inc. to launch a diverse advertising campaign placed on television, radio, the Internet and in the local newspaper.
Stroll Net’s brochures, letterhead and business correspondence will further reinforce these concepts. We also recognize that it costs six times more to attract a customer than to retain one. With this in mind, we will operate under the principle that our best marketing is an exceedingly satisfied customer.
Stroll Net bases its prices for Internet and wireless WiFi usage on the “retail profit analysis” provided by our supplier, Supplier One, Inc. They have been in the kiosk industry for 5 years and has developed a solid pricing strategy.
Determining a fair-market, per-transaction fee for Internet and wireless WiFi usage is more difficult because there is no direct competition from another public internet terminal business in Tech City. Therefore, Stroll Net considered two sources to determine the hourly charge rate. First, we considered the cost to use other Internet servers, whether it is a local networking firm or a provider such as America Online. Internet access providers use different pricing schemes. Some charge a monthly fee, while others charge an hourly fee. In addition, some providers use a strategy with a combination of both pricing schemes. Thus, it can quickly become a high monthly cost for the individual. Second, Stroll Net looked at how public Internet terminals in other markets, such as Miami and New York, went about pricing Internet access. Evaluating these two factors resulted in the following:
Walk-up Internet Access – Customers utilizing the terminals for internet access will be charged a .25 per minute transaction fee.
Wireless Internet Access – Customers utilizing the wireless WiFi connection will incur a fee of $3.95 per hour with a one hour minimum.
Stroll Net will implement a pull strategy in order to build consumer awareness and demand. Initially, Stroll Net has budgeted $5,000 for promotional efforts which will include advertising with coupons for fifteen minutes of free Internet time.
Stroll Net realizes that in the future, when competition enters the market, additional revenues must be allocated for promotion in order to maintain market share.
Stroll Net employs route operators to collect all sales transactions and to perform routine maintenance on its terminals. Each route operator is responsible for keeping the terminals on his route stocked, clean and operational. Computer literacy is a requirement for Stroll Net employees. If an employee does not possess basic computer skills when they are hired, they are trained by our full-time technician. Our full-time technician is also available for terminals in need of minor repairs. Stroll Net’s commitment to prompt, dependable service is one of the key factors that distinguishes Stroll Net from all other competitors.
Our Sales Forecast is based upon real revenue reports from other customers of Supplier One, operating in similar urban settings in nearby states. Prepaid products and advertising will yield the greatest revenue per unit, but we expect the greatest number of transactions will be in walk-up internet access and Wifi access.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Unit Sales | |||
Walk-Up Internet Access | 48,787 | 60,984 | 76,230 |
Wireless WiFi Access | 23,092 | 28,865 | 36,081 |
Prepaid Products | 19,677 | 24,596 | 30,745 |
Multimedia Advertising | 5,854 | 7,318 | 9,147 |
Total Unit Sales | 97,411 | 121,763 | 152,203 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Walk-Up Internet Access | $3.00 | $3.00 | $3.00 |
Wireless WiFi Access | $3.95 | $3.95 | $3.95 |
Prepaid Products | $10.00 | $10.00 | $10.00 |
Multimedia Advertising | $50.00 | $50.00 | $50.00 |
Sales | |||
Walk-Up Internet Access | $146,361 | $182,951 | $228,689 |
Wireless WiFi Access | $91,215 | $114,017 | $142,521 |
Prepaid Products | $196,774 | $245,963 | $307,453 |
Multimedia Advertising | $292,721 | $365,875 | $457,344 |
Total Sales | $727,071 | $908,806 | $1,136,007 |
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Walk-Up Internet Access | $0.60 | $0.60 | $0.60 |
Wireless WiFi Access | $0.40 | $0.40 | $0.40 |
Prepaid Products | $1.00 | $1.00 | $1.00 |
Multimedia Advertising | $5.00 | $5.00 | $5.00 |
Direct Cost of Sales | |||
Walk-Up Internet Access | $29,272 | $36,590 | $45,738 |
Wireless WiFi Access | $9,122 | $11,402 | $14,252 |
Prepaid Products | $19,677 | $24,596 | $30,745 |
Multimedia Advertising | $29,272 | $36,588 | $45,734 |
Subtotal Direct Cost of Sales | $87,343 | $109,176 | $136,470 |
Stroll Net is owned and operated by Cam Piotr and Bob Green. The company, being small in nature, requires a simple organizational structure. Implementation of this organizational form calls for the owners to make all of the major management decisions in addition to monitoring all other business activities.
The staff will consist of 8 full-time route operators working forty hours a week at $10.00 per hour. In addition, one full-time technician (who is more technologically oriented to handle minor terminal repairs/inquiries) will be employed to work forty hours a week at $12.00 per hour. This simple structure provides a great deal of flexibility and allows communication to disperse quickly and directly. Because of these characteristics, there are few coordination problems seen at Stroll Net that are common within larger organizational chains. This strategy will enable Stroll Net to react quickly to changes in the market.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Lorenzo Mitchell | $42,889 | $49,680 | $59,616 |
Herman Albany | $42,889 | $49,680 | $59,616 |
Technician | $25,920 | $27,040 | $29,120 |
Route Drivers | $172,800 | $183,040 | $199,680 |
Future Staff | $0 | $0 | $49,920 |
Total People | 11 | 11 | 13 |
Total Payroll | $284,498 | $309,440 | $397,952 |
Sales: Stroll Net is basing their projected Internet usage sales on the financial snapshot information provided to them by Supplier One, Inc. Internet usage was estimated by calculating the average number of minutes each customer will spend accessing the Internet and then generating a conservative estimate as to how many transactions will be made per day.
Cost of Goods Sold: The cost of goods sold was determined by the “retail profit analysis” we obtained from Supplier One, Inc. The cost of prepaid calling cards is 20% of the selling price. The cost of Internet access is $50 per month, paid to Supplier Two for networking fees. The cost of terminal placement is 20% of total internet access sales.
Salaries Expense: The founders of Stroll Net, Cam Piotr and Bob Green, will receive a salary of $24,000 in year one, $26,400 in year two, and $29,040 in year three.
Payroll Expense: Stroll Net intends to hire eight full-time employees at $10.00/hour and a full-time technician at $12.00/hour. The total cost of employing nine people at these rates for the first year is $14,720/month.
Rent Expense: Stroll Net is looking to purchase a 2200 square foot facility at $104.74/sq. foot.
Utilities Expense: Stroll Net is responsible for the payment of utilities including electric, water and garbage disposal. The basic monthly service charge for utilities expense will be $168.04. The phone bill will generated by five phone lines; one will be dedicated to a modem and four for business purposes. The basic monthly service charge for each line provided by Bellsouth is $59.95/month. Therefore, the total cost associated with the five phone lines is estimated at $299.75/month.
Marketing Expense: Stroll Net will allocate $50,000 for promotional expenses at the time of start-up. These dollars will be used for advertising on television, radio, the Internet and the local newspapers in order to build consumer awareness. For additional information, please refer to section 5.0 of the business plan.
Insurance Expense: Stroll Net has allocated $1,500 for insurance for the first year. As revenue increases in the second and third year of business, Stroll Net intends to invest more money for additional insurance coverage.
Legal and Consulting Fees: The cost of obtaining legal consultation in order to draw up the paper work necessary for client contracts is $1,500.
Depreciation: In depreciating our capital equipment, we used the Modified Accelerated Cost Recovery Method. We depreciated our terminals over a three-year time period.
Taxes: Stroll Net is an LLC and, as an entity, it is not taxed. However, there is a 10% payroll burden.
Basic assumptions are presented in the table below.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 11.50% | 10.00% | 10.00% |
Tax Rate | 25.00% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
Break-even data is presented in the chart and table below. With estimated monthly operating expenses at approximately $37,400, including everything from payroll to rent and insurance to maintenance of the kiosks, and average direct costs at roughly 90¢ for every $7.46 of sales, we reach break-even at approximately 5,700 sales per month. We project reaching the break-even point in the seventh month.
Break-even Analysis | |
Monthly Units Break-even | 5,166 |
Monthly Revenue Break-even | $38,557 |
Assumptions: | |
Average Per-Unit Revenue | $7.46 |
Average Per-Unit Variable Cost | $0.90 |
Estimated Monthly Fixed Cost | $33,925 |
The following table contains our projections for profit and loss data. We anticipate a net profit of approximately $134,300 in the first year, as the Stroll Net idea catches on and sales increase. With a net profit margin of 18%, these projections are well within a reasonable range.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $727,071 | $908,806 | $1,136,007 |
Direct Cost of Sales | $87,343 | $109,176 | $136,470 |
Other | $0 | $0 | $0 |
Total Cost of Sales | $87,343 | $109,176 | $136,470 |
Gross Margin | $639,728 | $799,630 | $999,537 |
Gross Margin % | 87.99% | 87.99% | 87.99% |
Expenses | |||
Payroll | $284,498 | $309,440 | $397,952 |
Sales and Marketing and Other Expenses | $53,598 | $59,174 | $68,279 |
Depreciation | $44,676 | $45,000 | $45,000 |
Utilities | $5,613 | $6,174 | $6,792 |
Insurance | $1,500 | $6,000 | $7,500 |
Maintenence/Repairs | $3,500 | $4,200 | $5,800 |
Travel | $13,717 | $24,652 | $29,961 |
Payroll Taxes | $0 | $0 | $0 |
Total Operating Expenses | $407,102 | $454,640 | $561,284 |
Profit Before Interest and Taxes | $232,626 | $344,990 | $438,253 |
EBITDA | $277,302 | $389,990 | $483,253 |
Interest Expense | $10,877 | $8,500 | $7,500 |
Taxes Incurred | $55,437 | $84,122 | $109,483 |
Net Profit | $166,311 | $252,367 | $321,270 |
Net Profit/Sales | 22.87% | 27.77% | 28.28% |
Cash flow data for the first three years is presented in the chart and table below. The table shows anticipated repayment of the long-term loan, as well as projected dividends which will be paid to investors in years two and three. In year three, we will purchase two more paykiosks terminals for new locations. The more detailed monthly cash flow data can be found in the appendix.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $727,071 | $908,806 | $1,136,007 |
Subtotal Cash from Operations | $727,071 | $908,806 | $1,136,007 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $727,071 | $908,806 | $1,136,007 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $284,498 | $309,440 | $397,952 |
Bill Payments | $184,060 | $327,202 | $366,049 |
Subtotal Spent on Operations | $468,558 | $636,642 | $764,001 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $10,000 | $10,000 | $10,000 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $40,000 |
Dividends | $0 | $100,000 | $200,000 |
Subtotal Cash Spent | $478,558 | $746,642 | $1,014,001 |
Net Cash Flow | $248,513 | $162,163 | $122,006 |
Cash Balance | $308,513 | $470,676 | $592,682 |
Our projected balance sheet is presented in the table below. As sales increase, and we repay our long-term loan, the net worth of the company will increase from $281,710 at start-up to over $610,000 by year three.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $308,513 | $470,676 | $592,682 |
Other Current Assets | $11,400 | $11,400 | $11,400 |
Total Current Assets | $319,913 | $482,076 | $604,082 |
Long-term Assets | |||
Long-term Assets | $312,810 | $312,810 | $352,810 |
Accumulated Depreciation | $44,676 | $89,676 | $134,676 |
Total Long-term Assets | $268,134 | $223,134 | $218,134 |
Total Assets | $588,047 | $705,210 | $822,216 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $50,026 | $24,822 | $30,558 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $50,026 | $24,822 | $30,558 |
Long-term Liabilities | $90,000 | $80,000 | $70,000 |
Total Liabilities | $140,026 | $104,822 | $100,558 |
Paid-in Capital | $310,171 | $310,171 | $310,171 |
Retained Earnings | ($28,461) | $37,850 | $90,217 |
Earnings | $166,311 | $252,367 | $321,270 |
Total Capital | $448,021 | $600,388 | $721,658 |
Total Liabilities and Capital | $588,047 | $705,210 | $822,216 |
Net Worth | $448,021 | $600,388 | $721,658 |
The following table outlines some of the more important ratios from the Data communications services industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 4899.9901.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 25.00% | 25.00% | 1.63% |
Percent of Total Assets | ||||
Other Current Assets | 1.94% | 1.62% | 1.39% | 53.65% |
Total Current Assets | 54.40% | 68.36% | 73.47% | 74.50% |
Long-term Assets | 45.60% | 31.64% | 26.53% | 25.50% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 8.51% | 3.52% | 3.72% | 24.78% |
Long-term Liabilities | 15.30% | 11.34% | 8.51% | 18.28% |
Total Liabilities | 23.81% | 14.86% | 12.23% | 43.06% |
Net Worth | 76.19% | 85.14% | 87.77% | 56.94% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 87.99% | 87.99% | 87.99% | 52.82% |
Selling, General & Administrative Expenses | 73.78% | 60.22% | 59.71% | 30.92% |
Advertising Expenses | 6.14% | 4.95% | 3.96% | 0.82% |
Profit Before Interest and Taxes | 31.99% | 37.96% | 38.58% | 6.18% |
Main Ratios | ||||
Current | 6.39 | 19.42 | 19.77 | 1.84 |
Quick | 6.39 | 19.42 | 19.77 | 1.60 |
Total Debt to Total Assets | 23.81% | 14.86% | 12.23% | 54.39% |
Pre-tax Return on Net Worth | 49.50% | 56.05% | 59.69% | 8.03% |
Pre-tax Return on Assets | 37.71% | 47.71% | 52.39% | 17.61% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 22.87% | 27.77% | 28.28% | n.a |
Return on Equity | 37.12% | 42.03% | 44.52% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 4.63 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 45 | 27 | n.a |
Total Asset Turnover | 1.24 | 1.29 | 1.38 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.31 | 0.17 | 0.14 | n.a |
Current Liab. to Liab. | 0.36 | 0.24 | 0.30 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $269,887 | $457,254 | $573,524 | n.a |
Interest Coverage | 21.39 | 40.59 | 58.43 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.81 | 0.78 | 0.72 | n.a |
Current Debt/Total Assets | 9% | 4% | 4% | n.a |
Acid Test | 6.39 | 19.42 | 19.77 | n.a |
Sales/Net Worth | 1.62 | 1.51 | 1.57 | n.a |
Dividend Payout | 0.00 | 0.40 | 0.62 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Unit Sales | |||||||||||||
Walk-Up Internet Access | 45% | 900 | 1,125 | 1,406 | 1,758 | 2,197 | 2,747 | 3,433 | 4,292 | 5,364 | 6,706 | 8,382 | 10,477 |
Wireless WiFi Access | 25% | 426 | 533 | 666 | 832 | 1,040 | 1,300 | 1,625 | 2,031 | 2,539 | 3,174 | 3,967 | 4,959 |
Prepaid Products | 18% | 363 | 454 | 567 | 709 | 886 | 1,108 | 1,385 | 1,731 | 2,164 | 2,705 | 3,381 | 4,226 |
Multimedia Advertising | 12% | 108 | 135 | 169 | 211 | 264 | 330 | 412 | 515 | 644 | 805 | 1,006 | 1,257 |
Total Unit Sales | 1,797 | 2,246 | 2,808 | 3,510 | 4,387 | 5,484 | 6,855 | 8,569 | 10,711 | 13,389 | 16,736 | 20,920 | |
Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Walk-Up Internet Access | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | |
Wireless WiFi Access | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | $3.95 | |
Prepaid Products | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | |
Multimedia Advertising | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | |
Sales | |||||||||||||
Walk-Up Internet Access | $2,700 | $3,375 | $4,219 | $5,273 | $6,592 | $8,240 | $10,300 | $12,875 | $16,093 | $20,117 | $25,146 | $31,432 | |
Wireless WiFi Access | $1,683 | $2,103 | $2,629 | $3,287 | $4,108 | $5,135 | $6,419 | $8,024 | $10,030 | $12,537 | $15,671 | $19,589 | |
Prepaid Products | $3,630 | $4,538 | $5,672 | $7,090 | $8,862 | $11,078 | $13,847 | $17,309 | $21,636 | $27,046 | $33,807 | $42,259 | |
Multimedia Advertising | $5,400 | $6,750 | $8,438 | $10,547 | $13,184 | $16,479 | $20,599 | $25,749 | $32,187 | $40,233 | $50,291 | $62,864 | |
Total Sales | $13,413 | $16,766 | $20,957 | $26,197 | $32,746 | $40,932 | $51,165 | $63,957 | $79,946 | $99,932 | $124,916 | $156,144 | |
Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Walk-Up Internet Access | 20.00% | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 | $0.60 |
Wireless WiFi Access | 10.00% | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 |
Prepaid Products | 10.00% | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Multimedia Advertising | 10.00% | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 | $5.00 |
Direct Cost of Sales | |||||||||||||
Walk-Up Internet Access | $540 | $675 | $844 | $1,055 | $1,318 | $1,648 | $2,060 | $2,575 | $3,219 | $4,023 | $5,029 | $6,286 | |
Wireless WiFi Access | $168 | $210 | $263 | $329 | $411 | $514 | $642 | $802 | $1,003 | $1,254 | $1,567 | $1,959 | |
Prepaid Products | $363 | $454 | $567 | $709 | $886 | $1,108 | $1,385 | $1,731 | $2,164 | $2,705 | $3,381 | $4,226 | |
Multimedia Advertising | $540 | $675 | $844 | $1,055 | $1,318 | $1,648 | $2,060 | $2,575 | $3,219 | $4,023 | $5,029 | $6,286 | |
Subtotal Direct Cost of Sales | $1,611 | $2,014 | $2,518 | $3,147 | $3,934 | $4,917 | $6,147 | $7,683 | $9,604 | $12,005 | $15,006 | $18,758 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Lorenzo Mitchell | 0% | $3,289 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 |
Herman Albany | 0% | $3,289 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 |
Technician | 0% | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 | $2,160 |
Route Drivers | 0% | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 | $14,400 |
Future Staff | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | |
Total Payroll | $23,138 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | 11.50% | |
Tax Rate | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $13,413 | $16,766 | $20,957 | $26,197 | $32,746 | $40,932 | $51,165 | $63,957 | $79,946 | $99,932 | $124,916 | $156,144 | |
Direct Cost of Sales | $1,611 | $2,014 | $2,518 | $3,147 | $3,934 | $4,917 | $6,147 | $7,683 | $9,604 | $12,005 | $15,006 | $18,758 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $1,611 | $2,014 | $2,518 | $3,147 | $3,934 | $4,917 | $6,147 | $7,683 | $9,604 | $12,005 | $15,006 | $18,758 | |
Gross Margin | $11,801 | $14,752 | $18,440 | $23,050 | $28,812 | $36,015 | $45,019 | $56,274 | $70,342 | $87,928 | $109,909 | $137,387 | |
Gross Margin % | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | 87.99% | |
Expenses | |||||||||||||
Payroll | $23,138 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | |
Sales and Marketing and Other Expenses | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | $4,467 | |
Depreciation | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | $3,723 | |
Utilities | $468 | $468 | $468 | $468 | $468 | $468 | $468 | $468 | $468 | $468 | $468 | $468 | |
Insurance | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | |
Maintenence/Repairs | $292 | $292 | $292 | $292 | $292 | $292 | $292 | $292 | $292 | $292 | $292 | $292 | |
Travel | 15% | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 |
Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Operating Expenses | $33,355 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | $33,977 | |
Profit Before Interest and Taxes | ($21,554) | ($19,225) | ($15,537) | ($10,927) | ($5,165) | $2,038 | $11,042 | $22,297 | $36,365 | $53,951 | $75,932 | $103,410 | |
EBITDA | ($17,831) | ($15,502) | ($11,814) | ($7,204) | ($1,442) | $5,761 | $14,765 | $26,020 | $40,088 | $57,674 | $79,655 | $107,133 | |
Interest Expense | $950 | $942 | $934 | $926 | $918 | $910 | $902 | $894 | $886 | $879 | $871 | $863 | |
Taxes Incurred | ($5,626) | ($5,042) | ($4,118) | ($2,963) | ($1,521) | $282 | $2,535 | $5,351 | $8,870 | $13,268 | $18,765 | $25,637 | |
Net Profit | ($16,878) | ($15,126) | ($12,354) | ($8,890) | ($4,563) | $846 | $7,605 | $16,052 | $26,609 | $39,804 | $56,296 | $76,910 | |
Net Profit/Sales | -125.84% | -90.22% | -58.95% | -33.94% | -13.93% | 2.07% | 14.86% | 25.10% | 33.28% | 39.83% | 45.07% | 49.26% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $13,413 | $16,766 | $20,957 | $26,197 | $32,746 | $40,932 | $51,165 | $63,957 | $79,946 | $99,932 | $124,916 | $156,144 | |
Subtotal Cash from Operations | $13,413 | $16,766 | $20,957 | $26,197 | $32,746 | $40,932 | $51,165 | $63,957 | $79,946 | $99,932 | $124,916 | $156,144 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $13,413 | $16,766 | $20,957 | $26,197 | $32,746 | $40,932 | $51,165 | $63,957 | $79,946 | $99,932 | $124,916 | $156,144 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $23,138 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | $23,760 | |
Bill Payments | $2,614 | $3,462 | $4,456 | $5,887 | $7,678 | $9,918 | $12,719 | $16,223 | $20,603 | $26,080 | $32,928 | $41,490 | |
Subtotal Spent on Operations | $25,752 | $27,222 | $28,216 | $29,647 | $31,438 | $33,678 | $36,479 | $39,983 | $44,363 | $49,840 | $56,688 | $65,250 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $837 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $26,585 | $28,055 | $29,049 | $30,480 | $32,271 | $34,511 | $37,312 | $40,816 | $45,196 | $50,673 | $57,521 | $66,087 | |
Net Cash Flow | ($13,173) | ($11,290) | ($8,092) | ($4,284) | $475 | $6,421 | $13,853 | $23,141 | $34,750 | $49,259 | $67,394 | $90,057 | |
Cash Balance | $46,827 | $35,538 | $27,446 | $23,163 | $23,637 | $30,059 | $43,912 | $67,053 | $101,803 | $151,062 | $218,456 | $308,513 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $60,000 | $46,827 | $35,538 | $27,446 | $23,163 | $23,637 | $30,059 | $43,912 | $67,053 | $101,803 | $151,062 | $218,456 | $308,513 |
Other Current Assets | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 |
Total Current Assets | $71,400 | $58,227 | $46,938 | $38,846 | $34,563 | $35,037 | $41,459 | $55,312 | $78,453 | $113,203 | $162,462 | $229,856 | $319,913 |
Long-term Assets | |||||||||||||
Long-term Assets | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 | $312,810 |
Accumulated Depreciation | $0 | $3,723 | $7,446 | $11,169 | $14,892 | $18,615 | $22,338 | $26,061 | $29,784 | $33,507 | $37,230 | $40,953 | $44,676 |
Total Long-term Assets | $312,810 | $309,087 | $305,364 | $301,641 | $297,918 | $294,195 | $290,472 | $286,749 | $283,026 | $279,303 | $275,580 | $271,857 | $268,134 |
Total Assets | $384,210 | $367,314 | $352,302 | $340,487 | $332,481 | $329,232 | $331,931 | $342,061 | $361,479 | $392,506 | $438,042 | $501,713 | $588,047 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $2,500 | $3,316 | $4,262 | $5,634 | $7,351 | $9,498 | $12,183 | $15,542 | $19,741 | $24,992 | $31,557 | $39,765 | $50,026 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $2,500 | $3,316 | $4,262 | $5,634 | $7,351 | $9,498 | $12,183 | $15,542 | $19,741 | $24,992 | $31,557 | $39,765 | $50,026 |
Long-term Liabilities | $100,000 | $99,167 | $98,334 | $97,501 | $96,668 | $95,835 | $95,002 | $94,169 | $93,336 | $92,503 | $91,670 | $90,837 | $90,000 |
Total Liabilities | $102,500 | $102,483 | $102,596 | $103,135 | $104,019 | $105,333 | $107,185 | $109,711 | $113,077 | $117,495 | $123,227 | $130,602 | $140,026 |
Paid-in Capital | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 | $310,171 |
Retained Earnings | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) | ($28,461) |
Earnings | $0 | ($16,878) | ($32,004) | ($44,358) | ($53,248) | ($57,810) | ($56,965) | ($49,360) | ($33,308) | ($6,700) | $33,104 | $89,401 | $166,311 |
Total Capital | $281,710 | $264,832 | $249,706 | $237,352 | $228,462 | $223,900 | $224,745 | $232,350 | $248,402 | $275,010 | $314,814 | $371,111 | $448,021 |
Total Liabilities and Capital | $384,210 | $367,314 | $352,302 | $340,487 | $332,481 | $329,232 | $331,931 | $342,061 | $361,479 | $392,506 | $438,042 | $501,713 | $588,047 |
Net Worth | $281,710 | $264,832 | $249,706 | $237,352 | $228,462 | $223,900 | $224,745 | $232,350 | $248,402 | $275,010 | $314,814 | $371,111 | $448,021 |
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Are you about starting a Wi-fi hotspot business? If YES, here is a complete sample Wi-fi hotspot business plan template & feasibility report you can use for FREE .
Okay, so we have considered all the requirements for starting a Wi-fi hotspot business. We also took it further by analyzing and drafting a sample Wi-fi hotspot business marketing plan template backed up by actionable guerrilla marketing ideas for Wi-fi hotspot businesses. So let’s proceed to the business planning section .
As an aspiring entrepreneur who wants to start a business, one of the businesses you can look to is the Wi-Fi hotspot business. It should be noted that starting a Wi-Fi hotspot business needs significant investment capital, solid planning, and concentration to detail in order to keep your business profitable.
In recent time, the demand for services provided by Wi-Fi hotspot maybe on the decrease because of loads of options that internet service providers offer their subscribers, but on the other hand, if you know how to position your business, and you have fast internet that is affordable, you will sure make profits from this line of business.
So, if you have decided to start your own Wi-Fi hotspot business, then you should ensure that you carry out thorough feasibility studies and market survey. Business plan is yet another very important business document that you should not take for granted when launching your Wi-Fi hotspot business.
Below is a sample Wi-Fi hotspot business plan template that can help you to successfully write your own with little or no difficulty.
1. industry overview.
A hotspot is a physical location where people may obtain internet access for free or at a fee, typically using Wi-Fi technology, via a wireless local area network (WLAN) using a router connected to an internet service provider. Public hotspots may be created by a business for use by customers, such as coffee shops or hotels.
Using an open public network is the easiest way to create a free hotspot. All that is needed is a Wi-Fi router. Similarly, when users of private wireless routers turn off their authentication requirements, opening their connection, intentionally or not, they permit piggybacking (sharing) by anyone in range.
Closed public networks use a Wi-Fi Hotspot Management System to control access to hotspots. This software runs on the router itself or an external computer allowing operators to authorize only specific users to access the Internet.
Providers of such hotspots often associate the free access with a menu, membership, or purchase limit. Operators may also limit each user’s available bandwidth (upload and download speed) to ensure that everyone gets good quality service. Often this is done through service-level agreements.
Many services provide payment services to hotspot providers for a monthly fee or commission from the end-user income.
For example, Amazingports can be used to set up hotspots that intend to offer both fee-based and free internet access, and ZoneCD is a Linux distribution that provides payment services for hotspot providers who wish to deploy their own service.
Major airports and hotels are more likely to charge for this service, but small airports and airline lounges do offer free service. Retail shops, public venues and offices usually provide a free Wi-Fi SSID for their guests and visitors.
Roaming services are expanding among major hotspot service providers. With roaming service, the users of a commercial provider can have access to other providers’ hotspots, either free of charge or for extra fees, which users will usually be charged on an access-per-minute basis.
The Wi-Fi Hotspot industry is indeed a large industry and there is hardly any airport that you won’t find an internet café that you can either connect your gadget through their Wi-Fi or log on to their computer to surf the net while you wait for your flight.
Though some players in this industry would prefer to build their call centers in places where they can maximize profits; countries like India, China and The Philippines readily comes to mind.
One good thing about starting a Wi-Fi business is that aside from the fact that people will come in to browse the internet and carry out their jobs; you can also generate enough income by engaging in the sale of coffee and snacks.
So all you need to do if you want to maximize your Wi-Fi business is to strategically position the business and you will be amazed at the rate people troop to your Wi-Fi location; not only those that want to browse the internet, but also those who may just want to hang out with friends over a cup of coffee and snacks.
Light Speed® Wi-Fi Hotspot, LLC is a licensed Wi-Fi hotspot and coffee shop that is fully equipped with the latest technology in Wi-Fi Hotspot. Our Wi-Fi Hotspot will be located in the busiest airport in the united states – Hartsfield–Jackson Atlanta International Airport.
Light Speed® Wi-Fi Hotspot, LLC will operate as a standard Wi-Fi Hotspot where clients are expected to surf the internet at the speed of light, make internet phone calls, conduct teleconferences, and scan and send documents online. We also engage in the sale of snacks and coffee, operating a full-fledged business center and the sale of data bundle and call cards for various telecommunication providers.
Our business goal is to work towards becoming one of the leading Wu-Fi hotspot brand in the whole of Hartsfield – Jackson, Atlanta and in the nearest future compete with leaders in the industry not only in the United States but also in the global stage.
We are not ignorant of the fact that building a world class Wi-Fi hotspot from the scratch requires huge capital especially for the purchase of up-to-date internet equipment (server, and computers) and software applications et al, which is why we have perfected plans for steady flow of cash.
We can confidently say that we have a robust financial standing and we are ready to take on any challenge that we encounter in the industry. We are well – staffed and well – equipped to run a 24 hours-a-day and 7 days-a-week Wi-Fi business with a well – planned shift system.
We will ensure that all our employees are selected from a pool of qualified and customer centric people in and around Hartsfield – Jackson, Atlanta and also from any part of the United States.
We will make sure that we take all the members of our workforce through the required training that will position them to meet the expectation of the company and to compete with other players in the United States and throughout the globe.
At Light Speed® Wi-Fi Hotspot, LLC, our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
Light Speed® Wi-Fi Hotspot, LLC is owned by Lewis Hankins and his immediate family members. Lewis Hankins has a Degree: B.S. in Electrical Engineering from the Illinois Institute of Technology; M.S. degree in Computer Science at the University of Wisconsin-Milwaukee; MBA from the University of Chicago Booth School of Business.
Light Speed® Wi-Fi Hotspot, LLC is going to offer varieties of services within the scope of the Internet cafes’ industry in the United States of America. Our intention of starting our Wi-Fi hotspot in Hartsfield – Jackson, Atlanta is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and business goals.
Our business offerings are listed below;
Our Business Structure
The success of any business is to a large extent dependent on the structure of the organization and the people who occupy the available roles. Light Speed® Wi-Fi Hotspot, LLC will build a solid business structure that can support the growth of our Wi-Fi hotspot business.
We will ensure that we hire competent hands to help us build the business of our dream. The fact that we want to become one of the leading public Wi-Fi hotspot brands in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.
Below is the business structure that we will build at Light Speed® Wi-Fi Hotspot, LLC;
Manager/Supervisor
Admin and HR Manager
Chief Executive Office:
Information Technologist
Marketing and Sales Executive (Business Developer)
Client Service Executives/Help Desk Officer
Light Speed® Wi-Fi Hotspot, LLC engaged the services of a core professional in the area of startup business consulting and structuring to assist the organization in building a standard and profitable Wi-Fi hotspot business that can favorably compete with other leading public Wi-Fi hotspot brands in the United States of America and the world at large.
Part of what the business consultant did was to work with the management of the company in conducting a SWOT analysis for Light Speed® Wi-Fi Hotspot, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Light Speed® Wi-Fi Hotspot, LLC.
Our core strength lies in our service offerings, the power of our team and the state-of-the-art Wi-Fi hotspot equipment and software applications that we have.
We have a team that can go all the way to give our clients value for their money. We are well positioned in the heart of Hartsfield – Jackson, Atlanta – Georgia and we know we will attract loads of clients from the first day we open our Wi-Fi hotspot for business.
As a new Wi-Fi hotspot business in Hartsfield – Jackson, Atlanta – Georgia, it might take some time for our organization to break into the market and attract some well – established corporate clients; that is perhaps our major weakness.
Another weakness is that we may not have the required cash to pump into the promotion of our business the way we would want to.
The opportunities in the Wi-Fi/internet café industry are massive especially in Hartsfield – Jackson, Atlanta, and we are ready to take advantage of any opportunity that comes our way.
The truth is that with the advancement of technology and cheaper internet data bundles, it is now easier for organizations to conduct their teleconferences from their office and for individuals to purchase internet bundles and browse on their mobile gadgets.
So also, just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new and perhaps free public Wi-Fi hotspot in same location where our target market exists and who may want to adopt same Business model like us.
It is known fact that public Wi-Fi hotspot are a natural evolution of the cyber café. As a matter of fact, cafés started as places for information exchange, and have always been used as places to read the paper, send postcards home, play traditional or electronic games, chat with friends, find out local information.
As internet access is in increasing in demand, many pubs, bars and cafés have terminals, so the distinction between the Wi-Fi hotspot and the cyber café is eroded.
For instance, in some countries in Europe, the number of pure cyber cafés is decreasing since more and more public Wi-Fi hotspot offer the same services. However, there are European countries where the total number of publicly accessible terminals is also decreasing.
Germany is one good example of such countries where publicly accessible terminal is on the decrease. The reason for this trend is a combination of complicated regulation, relatively high Internet penetration rates, the widespread use of notebooks and PDAs and the relatively high number of wireless internet hotspots.
Lastly, while most Wi-Fi hotspots are privately owned businesses, many have been set up to help bridge the ‘digital divide’, providing internet access and training to those without home access. For example, the uk government supported the setting up of 6000 telecentres.
The target market for the Wi-Fi hotspot business is all encompassing because of their service offerings. In view of that, we have created strategies that will enable us reach out to various corporate organizations and individual who we know will need our services.
We have conducted our market research and survey and we will ensure that our Wi-Fi hotspot attracts the kind of clients we would love to work with. Below is a list of the people and organizations that we have specifically market our services to;
Our Competitive Advantage
We are mindful of the fact that there are stiff competitions in the Wi-Fi hotspot industry in the United States of America, hence we have been able to hire some of the best business developers to handle our sales and marketing.
Light Speed® Wi-Fi Hotspot, LLC might be a new entrant into the internet café industry, but we are coming into the industry with core professionals and of course a world-class Wi-Fi hotspot with the latest equipment and software applications in the industry.
Our complimentary services – fully functional business center, coffee and snacks bar will enable us attract loads of customers per time in our facility.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
Light Speed® Wi-Fi Hotspot, LLC is established with the aim of maximizing profits in the internet café industry and we are going to go all the way to ensure that we do all it takes to attract our target market. Light Speed® Wi-Fi Hotspot, LLC will generate income by offering the following services;
One thing is certain when it comes to Wi-Fi hotspot services; it is always cheaper and reliable for small businesses and startups to carry out teleconferencing or web meetings. This goes to show that any Wi-Fi hotspot facility that is well – equipped and well positioned will always attract corporate clients.
We are well positioned to take on the available market in Hartsfield – Jackson, Atlanta – Georgia and beyond and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow the business and our clientele base beyond Atlanta – Georgia.
We have been able to critically examine the Wi-Fi hotspot services market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Hartsfield – Jackson, Atlanta – Georgia.
Below are the sales projection for Light Speed® Wi-Fi Hotspot, LLC, it is based on the location of our business and other factors as it relates to Wi-Fi hotspot startups in the United States;
N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do in same location. Please note that the above projection might be lower and at the same time it might be higher.
Wi-Fi hotspot business is not a business that you have to go out there to retail products which is why we must do all we can to maximize any opportunity that comes our way to attract people to patronize and subscribe to our public Wi-Fi hotspot services.
Our sales and marketing team will be recruited based on their vast experience in the internet café industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent service delivery speaks for us in the marketplace; we want to build a standard Wi-Fi hotspot that will leverage on word of mouth advertisement from satisfied clients.
Our business goal is to build our Wi-Fi hotspot business to become the number one choice in the whole of Hartsfield – Jackson, which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Hartsfield – Jackson, Atlanta but throughout Georgia as well.
Light Speed® Wi-Fi Hotspot, LLC is set to make use of the following marketing and sales strategies to attract clients;
We have been able to work with a brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the internet café industry by storm which is why we have made provisions for effective publicity and advertisement of our Wi-Fi.
Below are the platforms we intend to leverage on to promote and advertise Light Speed® Wi-Fi Hotspot, LLC;
The nature of internet café services makes it easier for operators in this industry to charge her clients fees based on the number of hours spent or monthly subscription for members; usually this fee is charged based on the discretion of the Wi-Fi hotspot.
At Light Speed® Wi-Fi Hotspot, LLC we will keep our fees below the average market rate by keeping our overhead low. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises who engage our services to help them organize teleconferences or web meetings/webcast etc.
The payment policy adopted by Light Speed® Wi-Fi Hotspot, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Light Speed® Wi-Fi Hotspot, LLC will make available to her clients;
In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to pay for services rendered/subscription fee.
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the startup can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a Wi-Fi business; it might differ in other countries due to the value of their money.
The bulk of the money that is expected to be spent when setting up a public Wi-Fi hotspot business is in the purchase of equipment and of course leasing/renting a standard facility. This is what it would cost us to start Light Speed® Wi-Fi Hotspot, LLC in the United of America;
Going by the report from the research and feasibility studies conducted, we will need about $350,000 to set up a medium scale but standard Wi-Fi hotspot facility in the United States of America.
Generating Startup Capital Light Speed® Wi-Fi Hotspot, LLC
Light Speed® Wi-Fi Hotspot, LLC is going to start as a family business that will be solely owned and managed by Lewis Hankins and his immediate family members. Both of them will be the financier of the business, but may likely welcome other partners later which is why they have decided to restrict the sourcing of his startup capital to 3 major sources.
These are the areas we intend generating our startup capital;
N.B: We have been able to generate about $100,000 ( Personal savings $80,000 and soft loan from family members $20,000 ) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Light Speed® Wi-Fi Hotspot, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to equip our Wi-Fi hotspot facility with state of the equipment, technology and software applications.
Light Speed® Wi-Fi Hotspot, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
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Here are the steps involved: Developing a marketing strategy. Create a comprehensive marketing plan to promote your Piso Wifi Vendo business to its target market. Be mindful of factors like target audience, messaging, and channels when developing this plan.
How to Start a Piso WiFi Business in the Philippines. There are two simple steps on how to start a Piso Wifi Business. First, secure all the requirements needed, and second, kick off the business. 1. Piso WiFi business requirements: What you need to prepare.
`J.A.M.P piso net is a machine intended for wifi source. It is operated by putting a coin in the machine in order to connect to the internet. business research ... Our piso-net business is just a simple business that contributes a lot to make the lives of the people around our location become easier, and at the same time faster and affordable ...
The document summarizes a testimonial from a customer of Piso Wifi Vending Machine PH who started his own wifi vending business. Some key details: - The customer is an OFW from UAE who used the machine to start a business providing wifi access in a rural area with limited internet connectivity. - In the first month he earned PHP350-500 per day, now earning PHP800 per day or PHP24,000 per month ...
For those who want to start their small business this is a perfect idea since it only needs an estimated capital worth of Php 30,000. Sales of a single Piso Wifi machine were at Php200/day to Php500/day or P6,000/month-Php 15,000/month, but it can reach up to P44,000 in a month. The sales may vary depending on the number of users you have and ...
The term Piso WiFi is a portmanteau of "Piso," which means one peso in the Philippines, and "WiFi." The Piso WiFi business model allows customers to pay for internet access with a small amount of money rather than making them subscribe to expensive plans offered by telecommunications companies like Globe Telecom or Smart Communications.
Create a business plan - In any business like this one, you need a plan. A business plan outlines all you need to evaluate the profitability of your proposed business. ... You should also add a piso wifi machine in your shop para dun sa gustong sa phone lang maglalaro. Maraming nagbebenta dyan online (builder po ako) pero pwede din kayo ...
BUSINESS MODEL.docx - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of a business model for an internet connectivity product called Piso Wifi. The business model illustrates that Piso Wifi offers internet access through an online software package. It targets family homes and stores that have an existing ...
business proposal piso wifi - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. The document summarizes the goals of "SA KUSOG NGA KONEKSYON, PADAYUNG LIG-ON ANG RELASYON" which are to connect youth through technology, help learners in remote areas learn skills for the 21st century using technology, and become a support for everyone to connect ...
No need for employee to manage. 5. It can accomodate maximum 100 users at same time. 6. Wifi range is 100 meters you can also extend by providing wifi extender. 7. Have passive income everyday from 500 pesos to 3k pesos depending on the place and pricing. 8.
This business plan is prepared to obtain financing in the amount of $299,671. The supplemental financing is required to begin the purchase of public Internet terminals, the purchase of an office warehouse, office equipment and supplies and company vehicles, and to cover expenses in the first year of operations.
Piso Net also known as Hulog-hulog internet is basically a merge of PC rental and Arcade rental services wherein customers can pay the services by inserting coins to the machine. The rate is typically 4mins/peso which also amounts to the typical Internet Cafe rate of Php15/hr. This rate can be tweaked higher or lower either to be more ...
Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) - $2,500. Miscellaneous - $1,000. Going by the report from the research and feasibility studies conducted, we will need about $350,000 to set up a medium scale but standard Wi-Fi hotspot facility in the United States of America.
IIRC, business plans has faster response rate compared to home plans in case you had a problem. Reliability-wise, I have no idea since only availed the home plan. Anyways, you can post this in r/phinvest for better replies. You should go for 200mbps since you will use it for Piso-wifi, where possible customers 24/7.
PISO WIFI - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 1) The study aims to identify the effects of establishing a Piso Wi-Fi vending machine on increasing sales of entrepreneurs in Barangay Binahian A, Lopez, Quezon. 2) Interviews were conducted with 3 owners of Piso Wi-Fi vending machines in the area. 3) The findings showed that the Piso Wi-Fi helped increase ...
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In the Philippines, the pay-per-use public WiFi service is usually called "Piso WiFi" or "Piso Net." This business entails placing a WiFi hotspot (vendo machine) in a public place like a coffee shop or waiting room and charging customers a cheap price, usually one Philippine peso (thus "Piso WiFi"), for a specified period of internet access time (for example, 1 peso for 10 minutes, 5 pesos for ...
1.PISO-WIFI-MANUAL - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides instructions for setting up a Piso WiFi connection and creating voucher codes using the Mikrotik Hotspot Manager app. It outlines steps such as plugging in the power adapter and LAN cables, downloading and running the app, logging into the app, adding the router details, and ...
PISO WiFi Datasheet_FAQs.pdf - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document describes an IP Plug and Play self-service Wi-Fi vending machine that allows users to purchase internet access. It prints tickets with unique usernames and passwords that allow 30 simultaneous users to access the internet over Wi-Fi for a limited time.