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Author
Monge Canals, Miquel
Gelabert Santos, Jorge
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Abstract
The business consists of the creation of a student residence in Münster, Germany, focused mainly on Erasmus and international students.
The project arises from our personal experience after our Erasmus stay at the city of Münster, in which many of the international students did not obtain a place in any residence. The purpose of the business is to satisfy a growing and very high demand of students looking for accommodation in the city, as it has a very high rate of students higher than the average for German cities.
The property that will be used to carry out the business activity is Caritas Association for the Diocese of Münster e.V., some offices that will opt for their transfer this 2022, so his priority will be the sale of the building. This building will require some reforms 5 months, so the inauguration of the residence will be in June 2023.
The residence will be located 1.3 kilometers from the city center, in an area very close to to the different faculties of the university, positioning itself as one of the residences better located. In addition, the price offered will be in accordance with the market average, may vary depending on the preferences of customers. ISC - Münster will have a total capacity of 173 students, and the minimum market share to have full capacity is 1% of the market size. offering different types of accommodation: single rooms, individual apartments and double apartments. The business revenue model consists of two main sources:
- A fixed monthly fee accompanied by a customizable modular fee, for the which customers may have exclusive services, such as a service of room cleaning or laundry and ironing.
- Through vending machines, washers and dryers for collective use.
The strategy carried out to attract customers will be mainly through the social networks and erasmus forums, together with the creation of their own web page.
The constitution of the business consists of two main partners that will form a GmbH (Limited Company) with a share capital contribution of 150,000 euros.
1,000,000 euros are needed to start up the business and thus have sufficient own funds during the first year. In addition, the acquisition of the property is It will be financed through a 15-year lease. The income that will be obtained in the first year after its opening will be 800,000 euros, and with an average of 120 rented rooms per month, we will obtain a billing that start making profits.
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