Houzit Pty Ltd Case Study - Luxury Car Tax - Finance Assignment Help

Assignment Task :

Case study: Houzit Pty Ltd 
You have recently been appointed as the business manager of Houzit Pty Ltd having been a store manager for the past three years. Houzit Pty Ltd is a 15 store retail chain located in Brisbane. Houzit is the leading homewares retailer, catering to the growing need for furnishing new and renovated dwellings in the greater Brisbane area. 
The assortment on offer of bathroom fittings, bedroom fittings, mirrors and decorative items together with the recently added lighting fixtures has positioned Houzit as a leader in homewares retailing in Australia. Houzit has grown over the past five years from a single store to the current chain. Houzit prides itself on superior after sales service which has been a key reason for the continued growth in sales and corresponding profit increases. Today Houzit employs over 150 staff. 
Houzit Pty Ltd is a proprietary limited company (ACN 34 765 234 02) registered with the Australian Securities and Investment Commission. The registered address is with Houzit’s solicitors (Langs Lawyers, 535 Queen Street, Brisbane, QLD 4000) and the principle place of business is 505 Boundary Street Spring Hill Brisbane QLD 4000.

Business plan summary
1. The anticipation that the coming financial year would maintain the same sales growth as the growth that took place between 2007/08 to 2010/11.
2. To budget for an increase in inflation to 4% per annum and that all costs subject to inflation should incorporate this particular increase.
3. A new car costing $97,466 including GST has been planned for in the coming period to replace the five year old vehicle currently used by the chairman. This fuel inefficient car will attract a luxury car tax.
4. Sales breakup over the departments is anticipated to be bathroom fittings 30%, bedroom fittings 25%, mirrors 15% and decorative items 10% together with the recently added lighting fixtures 20%.
5. Profits are to be built on securing a growing customer base which will generate loyalty sales and become the refer other customers to the organisation. The superior after-sales service is the key strategy to achieve this.
6. Reduction on the principle of the loan by a payment of $100,000 on the 31 December 2011 from the profits generated by the business.
7. One objective in this plan is to manage the debtors more efficiently in the current period. This will involve an analysis of the debtors to identify ways to reduce the amount of cash tied up in outstanding debtors
 

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