Real Estate Business Model Adaptation Using Business Model Canvas
Case Study Pt. Bayu Cahaya Gemilang Bogor
Abstract
In the last few decades, the property industry in Indonesia has experienced rapid growth, driven by economic growth, changing societal perspectives, and increasing need for commercial and residential facilities. Lifestyle changes are also influencing the growth of this industry. Despite growing rapidly, the Indonesian property industry faces a number of problems, such as intense competition and a housing shortage. Additionally, changing demand patterns caused by the popularity of e-commerce, leading to an overstock of commercial properties, as well as frequently changing government regulations, add to the complexity of the industry. Data shows that the growth of the property sector will still be very volatile until 2023. This research is an adaptation of the Business Model Canvas of PT's real estate business. Bayu Cahaya Gemilang Bogor uses Pivot Strategy design. This is needed by PT. Bayu Cahaya Gemilang to solve the problems that PT. Bayu Cahaya Gemilang, because there is always a decline in income and it is still very fluctuating in terms of income in the last four years. This research uses descriptive qualitative methods with data collection techniques through interviews and documentation. The resource persons were 5 people from internal parties at PT. Bayu Cahaya Gemilang. Based on the results of interviews with sources, Business Model Canvas PT. Bayu Cahaya Gemilang is quite good because it includes nine main elements. However, the problems expressed in interviews regarding the four Pivot Strategy indicat ors show that seven elements of the Business Model Canvas have changed, namely Channels, Customer Relationships, Key Resources, Key Activities, Key Partnerships, Cost Structure, and Revenue Streams. The results of this research regarding alternative strategies from the pivot strategy aspect are from the Customer Pivot Strategy category of speed of response: adding a WhatsApp business system for service. Technology Pivot Strategy platform category: adding promotions through the marketplace and advertising on social media such as Instagram and Tik Tok. Business Sysytem Infrastructure payment category: Added a 1 year cashback program system. Economics/Profitability category of cooperation agreement: Collaborating again with property agents by having a notary and providing sales-based commissions to property agents.
Keywords-business model canvas, pivot strategy, management straegy, PT. Bayu Cahaya Gemilang
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