University of Central Punjab

Faculty of Engineering

: Assignment :

Submitted To: Ms. Amina Rizwan

Submitted By:

L1F18BSEE0001 Ghazi Ranjha

L1F18BSEE0014 Muhammad Akmal Rafique

L1F18BSEE0018 Muhammad Mahboob Nawaz

Course: Entrepreneurship
BUSINESS FEASIBILITY

Name: Muhammad Mahboob Nawaz

Address: 1 Khayaban e Jinnah Johar Town, Lahore

Phone: 032040018673 Mobile: 03240018673___

Email: nmehoob1233@gmail.com

Proposed business: Monitoring of Environmental Conditioning of Instrument during

transportation

YOUR BUSINESS IDEA

It is observed that during transportation of heavy machinery due to a high level of

vibration some parts of machinery get displaced due to bad transportation. Thus, the
efficiency of the machinery decreased. Some unexpected events such as temperature
fluctuations, humidity changes, and vibration may destroy many expensive products like
Food, Flowers, Chemicals, Medicine, Crockery. In order to prevent unwanted events and
to overcome some shortcomings we are designing a IoT-Based monitoring system that
measures vibration, temperature, humidity, luminous, speed, location and store this
data and the customer as well as the company can see this data on real time. In case any
readings exceed the limit the driver, customer as well as the company get the alarms
notification with the time and location of the vehicle on the application and web
browser.
It will be beneficial to the transportation companies, logistics, pharmaceuticals
transportation, heavy machines transportation and Bridge monitoring.
For Example:
Using the technology of Internet of Things (IoT) based monitoring system, logistics are
now capable to supervise their trucks delivering the package along with parameters that
determine the quality of the products being shipped. IoT assists in monitoring cargo
through its remote and real-time monitoring features and enable you to handle
temperature and humidity dependent products e.g. medicine, meat, flowers, and all
goods that require temperature control can be transport from the comfort of your
office. By leveraging the interconnection between fleet and your smartphone, you can
detect anomalies and respond to them, enabling you to prevent the degradation of your
products.
As, pharmaceuticals transportation need proper temperature and humidity during
transportation. Because, temperature or humidity-monitoring device is to determine
whether or not the quality of a pharmaceutical product has potentially been
compromised as a result of exposure to harmful or unwanted conditions.
As, bridge monitoring are typically carried out annually, can only detect obvious
damages like disruption, cracks or rust on the surface of bridges. Structural Health
Monitoring (SHM) for Bridge Structures are used for monitoring device to Bridge
annually. So, in order to ensure the comparability of the signals of all used sensors a
reference measurement on-site has to be carried out, where the accelerometers record
vibrations within the same area. Based on this data a correction function for each sensor
can be applied that represents a relative calibration. After sensor preparation the
sensors will be placed onto previously determined positions along and on both sides of
the bridge. The measurement is carried out during traffic and shall include sufficient
evaluable measurements for subsequent analysis.

What are your objectives for your business over the next twelve months?
For the next twelve months our main focus would be toward the relation and
connection that we will be building with our clients and different industries.
Based on our survey and buyer opinion we will be providing complete services of our
product including the modifications and resolving any technical faults if faced.
What are your objectives for your business over the following two years?

 Building relation with our clients

 Marketing our product in different competitive markets
 Starting a change campaign promoting our product in different transportation
companies.

YOUR BUSINESS IDEA cont.

List all the products and/ or services that you plan to provide at the commencement
of the business.
The company provides a 12-month warranty from the date of the sale. During this first year, the
company is responsible for any replacement parts needed because of manufacturing or material issues.
After this 12 month period, the company will only replace parts at their current retail cost.

List all the products and/ or services that you plan to provide in the future.
In light of the ever-changing nature of technology, the company reserves the right to modify
specifications or procedures for this wire stripper without notice. The company will not assume any
responsibility for equipment damage or malfunction that is due to improper operation, incorrect repairs,
or use of parts from another company

Who will operate the business?

CEO’s Ghazi Ranhja, Akmal Rafiq and Muhammad Mahboob Nawaz
Who else will be employed by the business immediately?
 Engineers with bachelors or master degrees
 Marketing experts having experience of more than 3 years
 Finance experts

Who else will be employed by the business in the future?

 Engineers with bachelors or master degrees
 Marketing experts having experience of more than 3 years
 Finance experts
MARKET RESEARCH
The worldwide market that compares to the high frequency induction heating machine
market size, market share, increase factor, key vendors, revenue, product demand, sales
size, quantity, cost structure, and development in the high frequency induction heating
machine Market. The goal of this report is to include historical, present, and coming
trends for high frequency induction heating machine supply, market volume, prices,
trading, competition, and value chain. The market report documents all global
important business players joined with their company profiles, size, product value,
product specifications and capability. It provides a comprehensive analysis of key
features of the global high frequency induction heating machine market .High
Frequency Induction Heating Machine market report will be taken as an essential guide
for the users so that they can clearly understand each and every factor related to the
high frequency induction heating machine market. It concentrates on the examination
of the current market and forthcoming innovations, to provide better insights for the
businesses.

MARKET RESEARCH cont.

Number of questionnaires Results

10 5

Person consulted Date

5 22/12/2021

Summarize the information collected during this consultation.

Price was high for some people and some industries of interest do not want to change
their current method of heating to our method because it is costing them extra money
SALES & DISTRIBUTION

Why will your prospective clients use your product or service?

Because our product is more efficient in monitoring of vehicles and above all eco-
friendly.

How will you sell your product or service? (eg: from home, production point, door to
door, wholesale, retail, mail order etc.).
We will sale our product through door to door. We will be visiting different related
industries and factories that are using monitoring system for different purposes.

Will you sell your product to the wholesale or retail market?

Yes, in a year or two.

Who will the wholesaler sell to?

Transportation Companies

Will you sell locally, regionally, statewide, nationally or internationally?

At start locally then regionally and then nationally.
How will you deliver your product to the point of sale?
Proper van delivery

Competition
There is no competition in the market.

Who is your competition?

None.
GETTING STARTED

Look in the phone book and/or local paper and talk to other people in the service or
industry to find out who provides the best service delivery or has the best equipment
and follow up service.
Consider terms, discounts, delivery time, maintenance contracts, second hand goods
etc.
Where will you obtain the equipment for your business?

 Local suppliers
 Melbourne
 Interstate
 A nearby town
 Overseas

Do you intend to buy, lease, hire purchase or rent the equipment for your business?
STOCK

When considering which supplier you will obtain your stock from, you need to
first find out the reliability of that supplier, the credit terms they provide, the type
and quality of the stock they distribute, the consistency of supply, what follow up
support and technical advice they provide.

What stock will you purchase on a regular basis

LICENCES & PERMITS

Business Name registration
(Provide details or evidence of research undertaken on requirements).

ABN/GST Registration
(Provide details or evidence of research undertaken on requirements).
The Business Licensing Information Service & Small Business Victoria can provide
information on many
things for Small Business. You also need to check with your local council to make
sure you comply with
any regulations they may have.

What essential licences/permits do you need to operate your business?

(Provide details or evidence of research undertaken on requirements).
Insurance requirements
(Provide details of Quote obtained or evidence of investigation undertaken on
Requirements)
Please Note:
1. NEIS Business are expected to have insurance coverage appropriate to the Business and the
industry.
2. Such insurance should be what a reasonable, informed, person would consider appropriate
for the business.
3. Appropriate insurance for the business and industry should be determined during the NEIS
training and incorporated in the prospective participant’s final Business Plan.
Proposed Premises – Home based or Commercial Premises. Location.

Ownership Structure – Sole trader/ Partnership/Company

YOUR BUSINESS IDEA

What Small Business experience do you have?

None

List the skills you need to operate this business.

 Business management skills.
 Teamwork and leadership skills.
 Communication and listening.
 Customer service skills.
 Financial skills.
 Analytical and problem-solving skills.
 Critical thinking skills.
 Strategic thinking and planning skills.

What skills do you have now that will allow you to produce your proposed product or
provide your service?
 Analytical and problem-solving skills.
  Communication and listening.
 Customer service skills.
What skills do you need to gain to further develop your product or provide your
service?
 Critical thinking skills.
 Strategic thinking and planning skills.
 Teamwork and leadership skills.
 Financial skills.
Tick areas that you currently hold business management skills in

 Bookkeeping  Record Keeping

 Marketing  Personnel Management
 Time Management  Motivation
 Communication skills  Planning and Goal Setting
 Insurance  Business Licensing and regulation
 Customer Service  Other

We recommend that you attach your current resume and relevant qualifications.