Demographic Information

Md. Amor Nahil, founder and managing director of Cherag Co-working, is currently twenty-
four years old and still perusing his under-graduation degree on marketing in North South
University, under School of Business and Economics. He started an office rental service back
on 13th December of 2018. Its been around seven months and there are only five employees
under him. He is conducting his business in the co-working industry and earning around forty
thousand BDT as an income for himself. He is an unmarried person and currently living as a
bachelor in Bashundhara for his education and business pursue. His family consists of six
members, and they are living in their home town, Rajshahi.
Cherag co-working is a unique idea of proving furnished office for rental at an affordable price,
mainly for small start-up business who can’t afford to rent an office plus who doesn’t want to
spend an extra expense of utility and buying of office equipment. Cherag, offers a full furnished
conference room, office space for 6 and 10 people, personal workstation and private chambers.
Every office space comes with added facilities as closed circuit tv, office security, electricity,
hi-speed internet, locker facility, printer, library, daily newspaper, cleaner and etc.
Md. Amor previously worked as CMO of BDsoft IT Solution. And back in June 2018, he was
looking for an office space for his family business. He was unable to find a suitable office
space, but instead, he was able to rent a very big space, there the rent was 85k. For his family
business, the cost was to high, but Md. Amor had an idea to rent back half of the space. He
found that there was a high demand for it and a lot of small business owner wanted that extra
space due to space a lot of costs. Thus, the whole idea of a furnished office for rent came to
Md. Amor’s mind and eventually we came up with Cherag Co-working with an initial
investment of 10 lakhs, which sourced by his personal funding.

Political Situation
Md. Amor Nahil is doing the business of his own from more half of a year. And during this
time is has heard of many entrepreneur training which is provided by the government of
Bangladesh. But he is not interested in any for those training, and he is considered as already
successful in this business, and those training are quite unnecessary for him. As being a
business student, he is learning a lot from the school of business and economics of North South
university. Every course is designed to help a student to know how to operate a business and
besides those, Md. Amor has a lot of connection which provides a helpful suggestion for his
business.

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Md. Amor has heard of the government's wing in the country for the local entrepreneur, but he
didn’t take any service from there. However, he is interested in taking a loan from them in the
future if they provide a below 10% interest on the loan provided to him. And he is also very
aware of the loan policies of different banks and financial institution. Once Mercantile Bank
of Bangladesh reached him through an internal link and offered investment to him in exchange
for a share of equity from his business. The offered invested fund was handsome, and he could
have used that fund grow. But he didn’t agree to that offer as he didn’t want to share the
business equity at that time.
About the political situation is expressed that the situation is stable right now, and he can
conduct his business smoothly without any hassle. And for the bureaucratic procedure, it didn’t
affect that much is his business, he was able to start the business is a short period of time as the
government is supportive to the young entrepreneurs, they charge less tax and sometimes no
tax at all. He is currently conducting his business solely, and in the future, he still sees himself
without any partners. And about the conflicts in the political arena, conflicts may happen in the
future between the two political parties, and that may affect his business, and he might get
fewer customers, and ultimately it affects the profitability. But the government is friendly
towards new and young entrepreneurs, in terms of less tax or sometimes no tax at all. And
regarding trade policies, Md. Amor’s income from Cherag Co-working is totally based on
rental income, and in Bangladesh currently, there is no VAT on rental. Thus, he is not liable
for any Trade policies.

Economic Situation
About the inflation, Md. Amor said that as inflation is increasing and to maintain the profit, he
needs to also increase the rent of the office spaces according to the inflation rate. And his
perspective of the loan sanction process from the bank is a bit lengthy, as a lot of papers word
need to be filed. And he believes that the rise of unemployment is influencing entrepreneurship
in the county. And on the purchasing power of the Bangladeshi people does put an impact on
his business, as Bangladeshi people love to bargain a lot. He also added a real-life example that
once a customer bargained a lot for the conference room and later the deal was closed about a
thousand taka less than the asking price. And for his business, he mainly charges BDT, and use
the dollar for Facebook ads, so the fluctuation of foreign exchange rate doesn’t that much affect
his business.

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Social Condition of Bangladesh
Md. Amor’s main intention to get involved in entrepreneurship was to make a profit of himself
and well as to be self-achieved. There was a time when his family business was not going well,
and this there not well also financially. From that moment, he decided to do something for
himself, and he is from a business family, he applied all his knowledge and links for the stat of
the business. And during the stat-up time, his family was very supportive and also helped him
financially. Which encouraged Md.Amor to focus more on the stat-up. But he did face some
social criticism from his neighbors and some relatives, that they wanted him to pursue a stable
job. And he hasn’t faced any difficulties in balancing family life and entrepreneur life, as he’s
family lives in Rajshahi and he lives as a bachelor in Bashundhara Dhaka.
And his target customers are from high- and middle-class family who want a space to conduct
their business. He believes that most of his customers are well educated; thus, the literacy level
of customers dosent affect his business. And as the demographic and population shift is going
on in Bangladesh that the people are moving towards the city, on this perspective Md.Amor
believes that this may results in more profit to him as he might get more customers.

Technological Condition
With the development of technology and the internet, all business sector boosted. So, did for
Md. Amor’s business, with better technology and the internet, he can reach his customers more
than before. And using the latest technology in the office space do attract more customers for
his business. And using the CRM system, Md. Amor can maintain the database of his
customers, and with it, he can efficiently serve his customers than before. The communication
with supplier or vendors has also been easier than ever before. His suppliers are the furniture
and equipment shops, and now he can post an order online, and in a few days, the products
reach to him.

Infrastructure of Bangladesh
The transportation system on Bangladesh as no impact on Md. Amor’s business. For the
logistics company in Bangladesh, he believes that there enough logistics support for many
businesses. And for his business service like foodpanda, seba.zxy, and e-courier doesn’t affect
his business positively. And as Md. Amor has many connections, and many references, renting
a property is a piece of cake for him.

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Legal Factor
Md. Amor is aware of many Business/SME policies available in Bangladesh, but they do not
have any impact on his business. And he also stated that having a commercial or an e-license
is easy now a days and a lot more convenient than before. Md. Amor is also aware of the
intellectual property right in this country, but that doesn’t also have any impact on his business.
And there is no employment law which creates a barrier in this business. But for the Consumer
Protection Act 2009, Md. Amor is very aware of it and as well as every concern about it. As
he rent furnished office space and accidents may happen, for this, he double checks every office
equipment before renting the space. And lastly, he also added that for this act he has insurance
his business under professional liability insurance.

Key Success factor

Md. Amor is friendly and hospitable. The major reason for his success is his personality, charm
and standard office space. He is very observant and always delivers to customers’ expectation.
This pushes his business forward as people do not only want hospitality but also the perfect
space to conduct their own business. Md. Amor earned his face value, as he is also a young
entrepreneur. Maintaining a good relationship and giving complimentary benefits helps to get
customers. The location of the business also plays an important role in attracting customers.

Obstacles
Ever since the co-working was established, Md. Amor didn’t face any threat or harassment
from the ruffians. And in future, he believes that he won’t ace any threats as he is not doing
any anti-government activities. He is doing their level best in every aspect but they do lack in
some areas. For instance, keeping up with the modern technology is difficult and costly for
every young business. However, his customers wants modern technology while renting the
furnished office space.

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Business Model Canvas of Cherag Co-working
1. Customer Segments: Md. Amor segments its customers based on demographic and
geographic segments. In the demographic segment, it then divides its customers into
two sections. First one is based on gender he both males and females. The second one
is based on income, and he targets people of middle to high income groups. When it
comes to geographical segmentation, he only targets people around Dhaka. Mainly
target customers are young and new entrepreneurs.

2. Value Proposition: Cherag Co-working’s value proposition is to Provide great rental

service at an affordable price in an aimable environment.

3. Channels: The main channels through which the business operates is through Word of
Mouth. They mostly get other customers through the evangelist marketing of their
current customers. Another way they connect is through Billboards and Facebook.

4. Customer Relationships: The business maintains customer relationship as it’s the

essence of the business. The relationship with the customers is totally personal. The main
purpose of this relationship is the acquisition of new customers and retention of current
customers.

5. Revenue Streams: The main ways through which the business generates revenue is
through the rental of office space.

6. Key resources: The key resources that are required by the business are mostly human
and physical resource. The human resource is the employees. The physical resources are
office equipment.

7. Key activities: Cherag Co-working is a service-oriented company to provide excellent

rental service. The key activities include maintaining a relationship with customers,
promotion of the service, and checking of every equipment before rental.

8. Key Partnerships: The employees are also considered to be a key partner. However,
furniture provider, electronics provider, and security providers are also Key Partners of
Cherag Co-working.

9. Cost Structure: The cost structure mainly consists of the utilities, cost of buying office
equipment, and salaries to the employees.

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Key Partners Key Activities Value Proposition Customer Relationships Customer Segments
• Employees • Promotion of Rental • Personal Relationship 1. Demographic
service. • Gender –
• Furniture To Provide great rental • Very Friendly Male &
Provider • Responding to service at an affordable
customer queries price in an aimable • The goal is to acquire Female
• Electronics environment new customers and • Income –
Provider • Provide excellent retain old ones. Middle to
service Upper class
• Security 2. Geographic
Provider • Pre check every • Only in Dhaka
office equipment 3. Young and New
before renting. entrepreneurs

Key Resources Channels

• Trade license • Website
• Customer Database • Word of Mouth
• Office equipment’s • Facebook
• Office Space • Billboard

Cost Structure Revenue Streams

• Utility Bills • Rental of Office Space
• Buying of Equipment’s
• Salary of Employees

Business Card of Md. Amor Nahil