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Case study
Elaboration of a business plan
The Feasibility Study for Opening a Currency Exchange House
Task - Solution - Result
TASK:
In 2020, the Client company addressed to Vioser Consulting with a request “To determine if it is feasible and profitable for the Client to initiate a new direction of activity within the existing one: opening a Currency Exchange House”.
SOLUTION:
A professional, detailed, with real calculations and forecasts BUSINESS PLAN was developed. It included:
- licensing procedure according to the specific requirements of NBM (National Bank of Moldova);
- specific conditions regarding the activity of a Currency Exchange House;
- the procedure for carrying out operations within the Foreign Exchange House;
- analysis of the local foreign exchange service providers market, especially the geographic area where it was supposed to be opened;
- price (margin) policy modeling for each currency;
- performing of SWOT and risk analysis of the institution;
- the investment need description (contribution in cash and fixed assets);
- study and analysis of the Currency Exchange House interaction with potential customers;
- elaboration of Financial Plan;
- forecast of exchange rate margin;
- monthly forecast of foreign exchange operations;
- estimation of the average monthly and annual net profit;
- conclusions about the feasibility of opening the Exchange House.
RESULT:
As a result of the studies and Business Plan elaboration, it was concluded that the opening of the Currency Exchange House will be a profitable activity with the recovery of the investment in a reasonable time for the Client.
The conclusion was based on exact and accurate calculations and financial forecasts.
Exchange House is currently operating successfully and Vioser Consulting is happy to have in its portfolio a new successful Client, which based on our professional consulting has obtained the expected results and is operating successfully.
