FINANCIAL PLANNING STRATEGY OF "CONTAINER VILLA RENTAL COMPANY IN THE MOUNTAINS" IN INDONESIA

: The development of the tourism industry in Indonesia has presented new business opportunities, including in the field of container villa rental in mountainous areas. This business promises attractive potential, but is also faced with various challenges related to proper financial planning. This research aims to analyze and understand the financial planning strategies adopted by container villa rental companies in Indonesia's mountainous regions. This research was conducted at PT Nahe Unggul Lestari which launched "V-CONT Village" a villa located in Sukabumi adjacent to the Bocimi toll road access which is under construction. The location is also close to Mount Gede Pangrango tourism. This research uses a qualitative approach with a case study method. The data in this study was collected through in-depth interviews with relevant parties in the container villa rental company, including financial management and other decision makers. In addition, data is also collected through document studies, namely financial reports, budgets, and company business plans. The collected data will be analyzed with a qualitative approach. The results show that financial planning for container villa rental companies in the mountains in Indonesia needs to be done systematically and structured. Financial planning in villa container rental companies in the mountains includes financial goals and objectives, financial planning elements, financial projections, investment feasibility analysis, and financial performance analysis.


INTRODUCTION
The tourism sector is the most popular sector to enjoy the beauty of nature which can be used as an alternative to vacation (Inati, 2022).The development of the tourism industry in Indonesia has presented new business opportunities, including in the field of container villa rental in mountainous areas (Julia & White, 2012).This concept combines the natural lifestyle with the comfort of staying in a unique and innovative villa.This business promises attractive potential, but is also faced with various challenges related to proper financial planning (Raghupathi & Raghupathi, 2014).Careful financial planning is expected to make the business run smoothly and profitably.
Tourism itself has a strategic role for the Indonesian economy through its contribution to the formation of GDP (Gross Domestic Product), foreign exchange earnings and employment (Nadyan et al., 2021) (Purwanto, 2022).In order to optimize the role of tourism in the economy and community welfare, it is necessary to develop an integrated, sustainable and inclusive tourism development based on an adequate understanding of the characteristics, conditions and constraints faced by tourism businesses.This development needs to be supported by appropriate financing and investment schemes (Wilson, 2012) (Gbandi & Amissah, 2014) (Yudhoyono, 2021).Thus, the importance of financial planning so that the tourism sector can always run smoothly.
Good financial planning can help to stay disciplined within the targets that have been set, which will be able to achieve the goals that have been set as well (Liyas, 2018) (Otley, 1999).Through financial planning, a person can better understand their finances through measurable financial goals and the impact of decisions taken (Walstad et al., 2017) (McCoy et al., 2013) (Yulfiswandi et al., 2023).
PT Nahe Unggul Lestari launched "V-CONT Village" a villa provides a memorable vacation experience, which can be enjoyed by the community with a rental system at an affordable and economical price for family vacations or other events.The use of an online-based application platform makes it easy for potential customers to find information and make transactions.V-CONT Village is located in Sukabumi adjacent to the bocimi toll access which is under construction.The location is also close to Mount Gede Pangrango tourism.With a strategic location and close to the urban area, it is hoped that V-CONT Village can be a solution for consumers who need a tourist location that is close to the city and has easy access.
However, various external factors appear in this business activity such as: competitive forces, the threat of new entrants, competition between companies, the ability of buyers to control prices, the ability of suppliers to control prices, and the pressure to use substitute goods.So the need to survive with various external threats supported by strong capital.Capital requirements in this business greatly affect the quality & services provided, the main and most expensive capital is the location of the land that has access to beautiful scenery and a cool atmosphere.
This research aims to analyze and develop an effective financial planning strategy for a container villa rental company in the mountains in Indonesia.The financial planning strategy will cover various aspects, such as cash flow management, investment, funding, and risk management.In the context of a container villa rental business, factors such as container villa construction and maintenance costs, competitive rental prices, as well as seasonal fluctuations in demand need to be carefully taken into account.The benefits of this research are business improvement with better financial management, increased profitability, increased competitiveness through setting more competitive rental prices, more efficient risk management, and increased investor and shareholder confidence in the company.The results of this research can help companies allocate resources more efficiently, avoid financial problems that may arise, and create opportunities for sustainable business growth.

METHOD
This research uses a qualitative approach with a case study method.Qualitative method is a research approach used to understand and explore an in-depth understanding of a phenomenon or event from the perspective of the subjects involved.Research with a qualitative approach focuses on interpretation and analysis of data that is descriptive and does not rely on numbers or statistics (Williams, 2007) (Rahman, 2020).This research was conducted at PT Nahe Unggul Lestari which launched "V-CONT Village" a villa located in Sukabumi adjacent to the Bocimi toll road access which is under construction.The location is also close to Mount Gede Pangrango tourism.
The data in this study were collected through in-depth interviews with relevant parties in the container villa rental company, including financial management and other decision makers.In addition, data is also collected through document studies, namely financial reports, budgets, and company business plans.The collected data will be analyzed using a qualitative approach, namely by reducing, presenting, and interpreting data to understand the financial planning strategies implemented by the company.The analysis will be conducted by identifying patterns, findings, and conclusions relevant to the research objectives.

Financial Goals and Objectives a. Financial Objectives
In accordance with the V-CONT Village business strategy, where our company is engaged in renting villas and in the long term will expand to other tourist areas.In the operational plan, it can be seen that PT Nahe Unggul Lestari requires funds before the company operates such as land rental funds, land clearing, and lodging construction.So that PT Nahe Unggul Lestari must have strong capital.The purpose of corporate financial management is to manage finances properly to support the achievement of the company's vision.Good financial management will make all marketing, operational, and HR activities that have been planned in previous chapters run well.In accordance with the financial objectives in chapter IV where the short-term goal of finance is to ensure good capital management so that operations can be carried out according to the target time so that they can generate revenue.The medium and long term is to prepare good financial reports, optimize profits, and maintain all financial ratios to always be in a good position so that it can be easy to get funds from banks or investors for business development both in existing lodging areas and opening lodging in other tourist areas.

b. Financial Objectives
In order to achieve financial goals, financial objectives must be determined.Once the financial goals are set, then financial management must be carried out properly.All finances must be managed properly starting from the preparation of cash flow, income statement, to balance sheet.The existence of financial ratios must also be presented properly, so that all strategic decisions can be analyzed from existing financial reports ranging from budget planning to fund allocation.From these reports, an evaluation of the strategies that have been made can also be carried out.The following is a link between financial goals and financial targets.

Table 1. Financial goals and objectives Financial Objectives
Financial Objectives Short Term Prepare a capital structure to finance all business activity needs of IDR 11,550,498,200.Obtained 100% funding from the owner.
Prepare funds for villa construction.Establish cooperation with other parties with scheduled payment agreements.Achieve the desired profit.
Organize the distribution of finances according to the plan of each section so that there is no leakage of funds so that the profit earned is in accordance with the plan.

Medium and Long Term
Prepare a good financial report Maintain good cash flow and maintain financial ratios so that finances are always healthy.Obtaining additional funds from banks or investors.
Obtaining additional funds so that they can expand their business either by adding facilities in the same location or opening lodging in new tourist areas.Source: Author's discussion 2023

Financial Planning Elements
Financial planning consists of five things, namely revenue planning taken from the marketing plan, related cost planning taken from marketing, operations and human capital plans.
While investment planning, capital requirements and financing will be obtained based on the analysis of revenue planning and related costs.

a. Revenue Planning
For V-Cont revenue planning is calculated with an annual target.Taken from marketing projections of villa occupancy by looking at the average occupancy of the West Java region, as well as income from tenant cottage rentals.Here is the revenue plan from V-Cont for 5 years.,267,773,008 10,181,538,485 10,907,881,235 11,896,094,860 Source: Author's discussion 2023

a. Planning Related Costs
Cost planning is the process of determining an estimate of how much costs will be incurred in the future.Cost planning is divided into marketing costs, operational costs, HR costs, and depreciation costs.The following is a detailed explanation of related costs.

1) Marketing Related Costs
Our marketing-related cost planning is taken from chapter 5, the section on the costs required by the marketing team to make sales.These costs include branding, online marketing and others.
Here are the marketing costs from year 1 -year 5 Operational costs consist of costs incurred to carry out activities ranging from preoperational to operational by the company such as land acquisition, purchase of containers, construction of lodging, purchase of office equipment, as well as operational machinery, to maintenance costs for villas and machinery and so on.The nominal projection of the operational related costs of PT Nahe Unggul Lestari can be seen below: Source: Author's discussion 2023 1) HR Related Costs HR costs consist of the costs of salaries of all human resources ranging from staff to Directors, benefits such as THR and BPJS, as well as additional costs such as training and uniforms.The company has also calculated the increase in salary costs every year.

2) Risk-Related Costs
Risk costs consist of costs related to external parties.This cost is made to avoid risks that could potentially occur and for the sake of the continuity of the company's operations.The nominal projection of the risk-related costs of PT Nahe Unngul Lestari can be seen below: Source: Author's discussion 2023

1) Investment planning and depreciation
Investment planning consists of capital expenditure.Capital expenditure itself is a capital expenditure for the purchase of goods that can be used in the long term, for example office equipment, tables, chairs and vehicles.In investment planning, PT Nahe Unggul Lestari only makes calculations to buy containers, office equipment, villa equipment, and other facilities.While the vehicle is chosen with a rental system.Depreciation.

2) Capital Requirements Planning
As a villa lodging service company, PT Nahe Unggul Lestari identifies funding needs to support corporate business strategies.At least funding needs must be prepared before starting business activities because in the early stages of standing requires funds to prepare infrastructure and introduce the company to the public.Funding needs are prepared from pre-operational to the first year of operation.The source of capital comes entirely from shareholders because the company has not run optimally in the first year so that it will reduce the risk of repayment obligations if using additional capital from the bank.In the long term, additional capital from banks or investors can be sought after the business is considered to be running stably.The initial capital requirements needed for pre-operational activities, operational activities, marketing and employee costs in the first year are as follows: Source: Author's discussion 2023

3) Financing Planning
The financing planning of PT Nahe Unggul Lestari is based on the cost allocation as stated in table 8.7 above.The authorized capital of PT Nahe Unggul Lestari was decided to be Rp.11,550,498,200.00(Eleven Billion Five Hundred Fifty Million Four Hundred Ninety Eight Thousand Two Hundred Rupiah) consisting of capital participation from 5 (five) founders of 100% (one hundred percent).The rationale for the business to be funded entirely by the founders is so that business operations can run well without any pressure on payment obligations to both the Bank and Investors.So that the composition of shareholders of PT Nahe Unggul Lestari as listed in the following table: Source: Author's discussion 2023

Financial Projections
Financial statement projections are a form of one of the company's financial planning.With the projection of the company's financial statements, the company will find it easier to see the possibilities that could occur in the company over the next few years.Projections of company financial statements usually consist of projected income statements, projected balance sheets and projected cash flow statements.The projected financial statements of PT Nahe Unggul Lestari are prepared within the next five years.

a. Income Statement Projections
Income statement projections are made to be able to know the amount of revenue to be earned and expenses incurred by the company.From this report it will also be seen how the company's profit growth from year to year.With the projected income statement, the company can assess the company's efficiency in making a profit by distributing profits (dividends) to shareholders once a year from profit after tax starting in year two.The existence of this report will also make it easier for companies when seeking additional funds either through bank loans or investors.From this report it can be seen that PT Nahe Unggul Lestari has made a profit in the second year and has been able to distribute dividends in the second year.This shows that revenue and cost management have been managed properly.The following profit and loss projections are made.The balance sheet is one of the financial statements in which there is a value of the company's assets and liabilities at the end of the accounting period.Assets or assets contain a list of the company's assets along with details of type and amount, while liabilities contain the company's obligations to creditors plus the capital that has been invested in the company.
The projected balance sheet of PT Nahe Unggul Lestari is made for the next 5 years so that it can be seen how the asset growth from year to year and how PT Nahe Unggul Lestari manages liabilities and profits as a component of capital.This makes the balance sheet projection can be used by the company to be able to analyze the company's development in utilizing debt and the company's ability to pay off short-term and long-term debt.From the existing balance sheet, it can be seen that PT Nahe Unggul Lestari has increased assets every year and the existence of profits makes capital also stronger.This makes PT Nahe Unggul Lestari able to develop business in the long term.The following is the projected balance sheet of PT.Nahe Unggul Lestari Table 9. Balance Sheet Report Year 1 -Year 5 Proyeksi laporan arus kas menunjukan informasi mengenai penerimaan dan pengeluaran perusahaan selama satu periode.Bagi perusahaan laporan ini bertujuan untuk menilai kegiatan di masa lalu untuk merencanakan kegiatan investasi dan pembiayaan di masa datang.Sedangkan bagi investor berguna untuk melihat kemampuan perusahaan dalam menghasilkan kas di masa depan, melihat kemampuan perusahaan dalam membayar utang, melihat investasi dan pembiayaan yang dilakukan perusahaan serta agar dapat melakukan perbandingan antara laba yang dihasilkan dengan kas bersih yang dihasilkan dari aktivitas operasi.Dari laporan ini dapat dilihat arus kas PT.Nahe Unggul Lestari berjalan positif dari tahun ke tahun.Kenaikan cukup besar karena deviden yang dibagikan hanya 25% dari laba.Hal ini dikarenakan adanya keinginan untuk membuka penginapan di daerah lain dalam jangka waktu panjang.Berikut proyeksi laporan arus kas yang dibuatoleh PT.Nahe Unggul Lestari.
until the fifth year.This means that PT Nahe Unggul Lestari has a good ROA and has the potential to be very good in the long run.Source: Author's discussion 2023 Return On Equity (ROE) is a way to measure the company's ability to generate profits from shareholder investment.ROE can be used as an indicator of how effective the company is in using investor funds.ROE can also be used as an indicator of whether shareholders are more profitable investing capital or not.From the results of the calculation of ROE PT Nahe Unggul Lestari, starting from the second year ROE has been above 10%.This means that PT Nahe Unggul Lestari is good at managing investor funds.11.550.498.200 11.550.498.200 11.550.498.200 11.550.498.200 11.550.498Break Even Point (BEP) analysis is used to calculate when a business or project will be profitable by equalizing total revenue and total costs.In another sense, Break Even Point (BEP) can be interpreted as a situation where revenue and costs are equal (TR = TC).Based on the income statement, in year 2, PT Nahe Unggul Lestari has started to make a profit.This means that PT Nahe Unggul Lestari has exceeded the Break Even Point (BEP) at the beginning of the second year.

c. PayBack Period
The payback period method analysis is used to measure the feasibility of investment based on the speed of return on investment, therefore the value of the payback period is expressed in units of time.If the payback period value is smaller, the faster the return and the more feasible the investment.Investors more often use the Payback Period method in determining or making investment decisions, whether it is worth investing in the company or not.V-Cont has a payback period of 3.3 years or exactly 3 years 3 months 20 days from the initial time of operation with a fairly short amount of time V-Cont is able to return the capital that has been deposited by the owner.

Financial Performance Analysis
Financial performance analysis is an analysis that aims to measure company performance by comparing data on financial statements, namely balance sheets and profit and loss statements in a certain period.Financial ratios also consist of liquidity ratios, profitability ratios, and solvency ratios.a. Liquidity Ratio The liquidity ratio is a ratio that describes the company's ability to pay off all its shortterm debts.The higher the liquidity ratio value, the better the ability of a company to pay its short-term debt, aka the debt is current.Based on the information above, PT Nahe Unggul Lestari has a very good liquidity ratio because its debt is relatively small.Source: Author's discussion 2023 b.Profitability Ratios There are several profitability ratios that we analyzed in the business, namely gross profit margin, operating income ratio, net profit margin and earning per share.From the results, it can be seen that all ratios show an increase from the first year to the fifth year.In particular, the net profit margin showed a fairly high increase.Earning per share is the nominal value of each share.From the available data, it can be seen that the value of the shares has increased from the first year to the fifth year.The solvency ratio is a ratio that shows the company's ability to pay off all its debts both short and long term if one day the company is liquidated / bankrupt.The smaller the result, the more solvable the company is.PT Nahe Unggul Lestari has debt in vehicle rental where the value is not large, so the solvency ratio of PT Nahe Unggul Lestari is relatively small and can be said to be good.

CONCLUSION
The results showed that financial planning for container villa rental companies in the mountains in Indonesia plays an important role and needs to be done systematically and structured.In the financial planning of container villa rental companies in the mountains, things that are included include determining the financial goals and objectives to be achieved, identifying financial planning elements that include assets, liabilities, capital, income, and costs, financial projections to estimate future cash flows, investment feasibility analysis to ensure that the investment taken provides profitable results, and financial performance analysis to evaluate the company's financial performance.A systematic and structured approach to financial planning will help container villa rental companies in the mountains to face challenges and take advantage of opportunities more effectively and efficiently in managing company finances.