Financial Planning PT. Luxury Indah Jaya “Premium Laundry Services”

One of the tourism industries that contributes to national development is the hotel industry. The hotel business can support other businesses, whether it is the right place to hold meetings or cooperation agreements, it can also be a place to increase human resource competency through training. The hotel is also a means for family gatherings to relieve fatigue, a place to stay for delegations from fellow countries at state meetings. The existence of a hotel must of course be accompanied by excellent service, including cleanliness and quality of towels and linen for its guests. The presence of a laundry business service that serves hotel needs is very much needed. This business plan offers a premium laundry service specifically for 4 and 5 star hotels. PT. Luxury Indah Jaya (Luxury Laundry) not only offers towel and linen laundry services but also provides towel and linen rental and guarantees the availability of hotel needs. Luxury Laundry has an IFE score of 2.90 and an EFE score of 3.02, where Luxury Laundry's competitive strength is in the medium category based on the results of the Five Forces Portes Model analysis. Luxury Laundry's financial plan is prepared by considering capital requirements and all costs in running a business company. This research aims to analyze Luxury Laundry's financial planning. The method used in this research is qualitative analysis.


INTRODUCTION
The tourism industry is one of the industries that contributes to the economy in Indonesia.The existence of the tourism sector is very necessary to bring in foreign exchange and state income.Even though previously the tourism industry had stopped its growth due to the Covid-19 pandemic that hit the world, now the tourism industry is able to develop again.This can be seen from the number of foreign tourists visiting in April 2022, which has increasingly shown a positive trend since the beginning of 2022.It was recorded that the number of foreign tourists visiting Jakarta was 36.06.This figure grew by 170.2% YoY from last year.Comparison (YoY) 2021-2022 foreign tourist visits to Jakarta increased by 683.5%.
In supporting the tourism industry, one factor that plays an important role is the hotel sector.Based on data from the Central Statistics Agency, there are no less than 212 hotels spread across Jabodetabek.In Jakarta itself, hotels are dominated by 4-star and 5-star hotels.These hotels really maintain the quality of comfort and cleanliness.With the number of 4 and 5 star hotels spread across the Greater Tangerang and DKI Jakarta areas and the lack of interest in establishing and managing inhouse laundry by 4 and 5 star hotels, it is certain that there is a need for laundry services with premium service and guaranteed best quality in Tangerang.Raya and DKI Jakarta are still lacking.Moreover, driven by hotel occupancy levels following the easing of Community Activity Restrictions (PPKM) related to the Covid 19 pandemic, laundry business opportunities are very open and promising.This very open business opportunity must of course be able to meet the standards required by the hotel industry.To meet these needs, of course laundry services must have very good planning.Good financial planning is very necessary to maintain business continuity.To achieve good finances, according to (Joo & Grable, 2004) companies must pay attention to spending plans, keep debt low and accumulate savings.Strategic thinking focuses on long-term goals which are very different from the current situation and there are many ways to achieve long-term goals (Liu et al., 2021).The purpose of financial planning is to maintain operational cash flow and financial efficiency to achieve the company's vision.The goal is that finance can provide support to the marketing department, operational department and human capital department in carrying out the goals and targets that have been planned for the future.
This research aims to analyze the financial planning of Luxury Laundry with several measurements such as projected financial position and profit and loss, Return On Investment (ROI), Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP) , liquidity ratio, solvency ratio, profitability ratio and activity ratio.

METHOD
The method used in this research is qualitative analysis.Qualitative analysis is analyzing data, written descriptions and oral descriptions, then connecting them with data, written descriptions and other oral descriptions to obtain clarity of truth, and vice versa, to obtain new perspectives or to strengthen existing perspectives (Basias, N., & Pollalis, 2018).The qualitative research workflow begins by asking questions, then formulating a hypothesis, preparing data collection tools, then carrying out data collection activities, then carrying out data analysis, and finally writing research conclusions (Rijali, 2019).In qualitative research, conceptualization, classification, and description are developed based on "events" obtained during field activities.This research is included in Descriptive research because this research aims to describe one incident, namely financial planning at Luxury Laundry.To analyze the company's sustainability better in the future, a good financial plan is also needed.So this research focuses on discussing matters related to financial planning at Luxury Laundry, namely (1) Financial Report Projections (2) investment feasibility analysis (3) Liquidity Ratios (4) Solvency Ratios (5) Profitability Ratios (6) Ratios Activity.

RESULTS AND DISCUSSION
Financial planning at Luxury Laundry is made for the company's sustainability to be better in the future and to survive, good financial planning is also needed (David, 2011).PT Luxury Indah Jaya (Luxury Laundry) in running its business uses appropriate financial planning so that it can manage and advance the company into the future.The following is the financial framework for PT Luxury Indah Jaya as shown in the image below.

Financial Goals and Targets
In line with PT Luxury Indah Jaya's vision, namely to become a market leader in the premium class laundry service industry, always innovating to provide appropriate, fast, efficient, effective and economical solutions as well as presenting high quality products that are able to meet international standard needs.The objectives of Luxury Laundry are as follows:

Table 1 Financial Goals and Targets
No Company Short Term Goals (Year 1-2) 01 Obtain initial capital to run the company.
02 Allocate funds according to the established division budget.
03 Record the achievement of income and cost efficiency with predetermined profit targets.

Income Planning
Income planning is calculated by estimating income from each product and service offered by Luxury Laundry where the assumption is that income from each product and service increases every year according to the targeted market share.

Related Cost Planning
Costs related to planning are the costs required to run the company.Operating costs are indirectly related to company profits, although there is a direct relationship with Net Profit Margin (Krasniqi, Ahmeti, & Ahmeti, 2020).The costs for planning Luxury Laundry include: labor costs, marketing costs, operational costs, risk management costs and depreciation costs.

Labor costs
The following is a plan for labor costs over the next five years.

Marketing Costs
According to (Huang et al., 2019), marketing and promotion through social media has a positive impact on company growth.The following is a marketing cost plan for the next five years.

Operating costs
The following is the operational cost plan for the next five years.

Cost of depreciation
The following is a plan for depreciation costs over the next five years.

Investment Planning
Investment planning is very important and an inseparable part of the Company's financial planning.Investment is a plan regarding the things needed to run a company.Before making an investment, it is necessary to pay attention to the benefits of the investment against the costs that will be incurred, so that an investment can be declared feasible.The following is Luxury Laundry's investment plan in the next five years.

Initial Funding Planning
PT Luxury Indah Jaya's initial funding sources needed to start and build this business must be planned from the start.The source of capital requirements for Luxury Laundry comes from the parent company amounting to 64%, 18% from investors and 18% is debt to the parent.The following is a plan for Luxury Laundry's initial capital requirements.The profit and loss report provides information on the achievements of the company's operations related to the company's ability to generate profits, as well as providing information for investors to determine the condition of the company through future cash flows.The following is a projected profit and loss statement for PT Luxury Indah Jaya for the next five years.

Table 9 Projected Profit and Loss Statement Projected Financial Position
The projected financial balance of PT Luxury Indah Jaya is calculated and presented over a period of five years.The balance sheet planning consists of asset accounts, namely in the form of current assets, fixed assets and liability accounts owned by PT Luxury Indah Jaya.

Cash Flow Projections
PT Luxury Indah Jaya's cash flow report describes the company's cash management.Positive cash flow is if the final balance from the first year to the fifth year shows a surplus with an increase each year.

Investment Feasibility Analysis
To convince capital owners, an investment feasibility study is prepared from the start, where an investment feasibility analysis is important for a company to carry out so that the relevant investors can be sure of the level of return that investors will get in return for providing capital.The following is an analysis of the feasibility of investing in Luxury Laundry.
Table 12.Investment Feasibility Analysis (ROI, NPV, IRR, PBP) Based on the results of the investment feasibility analysis, the ROI value generated from Luxury Laundry for 5 years is 4% -12% with an average value of 10%, which means that this project can generate good income.The NPV value of Luxury Laundry investment is IDR 12,376 million, where in investment decisions if the NPV value of a project is above 0, then the project is recommended (Deng, He, Chai, & Wang, 2023).The IRR result on Luxury Laundry investment is 20.32%, which is quite promising in carrying out a project, because the IRR value of 20.32% is still higher compared to other business investments so that Luxury Laundry investment is more attractive to investors (Alizadeh, Tabil, Mupondwa, Li, & Cree, 2023).Luxury Laundry's payback period is 3 years 8 months, which is quite a good investment in a new business.

Liquidity Ratio
Liquidity ratios are analyzes related to a company's ability to meet its short-term obligations (Et. al., 2021).This analysis looks at how the company's finances are able to pay the company's debt which will mature within one year.The following table shows the results of PT Luxury Indah Jaya's liquidity ratio calculation.

Table 13 Liquidity Ratio
From the results of the analysis above, the current ratio and quick ratio show above 1, which means that this company has good liquidity in terms of its ability to pay short-term debt.

Solvency Ratio
Solvency or Leverage Ratio is the company's ability to pay its obligations, both short and long term (OSHO & OMOLE, 2022).This ratio is also useful for measuring how much assets or wealth a company has that is financed by debt.The following are the results of the Debt Asset Ratio (DAR) and Debt to Equity Ratio (DER) analysis calculations from PT Luxury Indah Jaya.

Table 14 Solvency Ratio
From the results of the analysis above, DAR and DER show results below 100%, which means that this company has the ability to fulfill its debt payment obligations.

Profitability Ratio
This ratio is a comparison to determine the company's ability to earn profits from the income earned (Ichsani, Hertina, & Effendi, 2021).This profitability ratio is also a measurement of the company's ability to generate stable profits above standard.PT Luxury Indah Jaya uses gross profit margin and net profit margin in calculations.The following is the profitability ratio of PT Luxury Indah Jaya.

Table 15 Profitability Ratio
From the results of the analysis above, the gross margin and net margin show that this project can generate relatively good margins or profits.ROA and ROE analysis shows that the percentage of income above bank deposits is an average of 2% -3%.

Activity Ratio
The activity ratio is a ratio that measures the company's effectiveness in utilizing all its resources.The following is the activity ratio of PT Luxury Indah Jaya.

Table 16. Activity Ratio
From the results of the asset turnover analysis, it shows that assets are used more than once to generate income.

CONCLUSION
With good financial planning, companies can maintain business continuity.This is very helpful in making business decisions in carrying out company operations.
From the results of the discussion above, it can be seen that the NPV value of Luxury Laundry is 12,376 with an IRR of 20.32%.From these two indicators it can be said that the investment made to run this laundry business is feasible, this is because the NPV value shows a positive number and the IRR value is 20.32% where the cost of equity figure used in running the business is 5%.Apart from that, the rate of return (Payback Period) of this investment is 3 years and 8 months.This figure can be said to be quite fast for a newly formed business with a gross margin of 33% and a Net Profit Margin of 4% -11% in the next five years.From these results, it can be concluded that the Luxury Laundry business is worthy of realization.

02
Monitor and evaluate the efficiency of budget use for each division.03 Prepare a budget for expanding market coverage in operational areas.04 Negotiate with prospective banks regarding operational funding needs No Company Long Term Goals (Year 5 onwards) 01 Prepare a budget for new machine expansion.02 Monitoring the achievement of revenue targets and evaluating cost efficiency in each company division.