Project for the subject

INNOVATION & ENTREPRENEURSHIP

(UTA012)

Submitted by
Abhinandan Vijan (101604005)
Aditi Singh (101604009)
Aditya Kapur (101604010)
Aanchal Bisht (101784001)
Aashima Bansal (101784020 )

Group No.: 3EE1_1

Project Title: Aabri.Com

Course Instructor(s)
LECTURE FACULTY & LAB FACULTY

VENTURE LAB,
THAPAR INSTITUTE OF ENGINEERING AND TECHNOLOGY, PATIALA
Session: January – May, 2018
(Date of submission:27/11/2018)
 CONTENTS
Title Page No
Certificate i
Acknowledgements ii
Nomenclature and abbreviations iii
Chapter 1: Opportunity Analysis 1
1.1 Opportunity Identification
1.2 Solution proposed
1.3 Uniqueness of the solution
1.4 What problem of the market segment is solved by your solution
1.5 Identification of users and customers
1.6 How will the target users be benefited by the solution
1.7 How will users discover and adopt their solution
1.8 How the market segment will get affected by their solution
1.9 Filled Opportunity Canvas

Chapter 2: Customer Validation Survey

2.1 Sample form used for customer survey
2.2 Size of the customer survey and its documentary proof
2.3 Results of the survey (question wise)
2.4 Detailed Analysis of the survey
2.5 Conclusion of the survey

Chapter 3: Financial Model

3.1 Cost Structure
3.2 Revenue Structure
3.3 Profit & Loss Statement
3.4 Cash Flow Statements

Chapter 4: Reflections
 CERTIFICATE

This is to certify that the project report on, “Aabri.Com (3EE1_1)” being submitted by Mr.
Abhinandan Vijan, Ms. Aditi Singh, Mr. Aditya Kapur, Ms. Aanchal Bisht and Ms. Aashima
Bansal to the Venture Lab, Thapar Institute of Engineering and Technology, Patiala for the
fulfillment of the course requirement of INNOVATION & ENTREPRENEURSHIP (UTA012)
is a bonafide record of work carried out by us in conformity with the rules and regulations of the
institute.
The results presented in this report have not been submitted, in part or full, to any other
University or Institute for the award of any degree or diploma.

Abhinandan Vijan
(101604005)

Aditi Singh
(101604009)

Aditya Kapur
Dated: (101604010)

Aanchal Bisht
(101784001)

Aashima Bansal
(101784020)
Acknowledgements
Nomenclature and abbreviations
Chapter 1: Opportunity Analysis
1.1 Opportunity Identification: Every year large mass of population move from rural to urban
areas or shift to different cities in search of Jobs, Quality Education, better living conditions
etc. This number is increasing rapidly with increase in population.
The people new to city are always in search for a nice and affordable place to live, which is near to
their work place or educational institute, is situated in a good locality, has nearby market place and
is safe. So there is a large scope of business in providing accommodations to these people.

At the same time there are large numbers of house renting, Paying Guests or similar services
available. But it becomes a lot difficult for outsiders to find their desired accommodation and they
have to physically visit and look for accommodations or contact brokers and end up paying large
commissions to them. Even many of the house rental businesses are not able to get customers as a
result their accommodations remain unoccupied.

So to bridge the gap between both these segments, we as a group of individuals have come up with
an idea of online home rental portal where people can see homes online, find desired
accommodations at cheap rates and get saved from all physical room search hustle and paying
hefty commissions.
Also such a solution will fetch us motivated sellers.

1.2 Solutions Proposed: to save the customers from the hefty work of finding PGs, we’re giving
them a better option of looking for them online with pictures of accommodation provided.
1.3 Uniqueness of the solution: providing an interactive platform with customers, credibility of
the pictures shown and quality service delivered.
1.4 What part of market segment is solved:
1.5 Identification users and customers: coaching going students and employees and interns of
companies shall be our target customers.
1.6 How will the users be benefited from the solution?: their time, money and energy will be
saved as they wont be going around looking for PGs; huge database- so they can compare
prices and locality.
1.7 How will users discover and adopt their solution?: users will discover our solution because
of our collaboration with coaching institute which will provide us a huge market and through
advertisement in local daily, posters, flyers and social media.
This solution will be easy to adopt because of the user friendly website with interactive
environment.
1.8 How will market segment get affected from this solution?:
1.9 Filled opportunity canvas:
Chapter 2: Customer Validation Survey
2.1 Sample form used for customer survey
2.2 Size of the customer survey and its documentary proof

The survey was conducted among 135 people. The people surveyed were mostly students, tenants
living in Flats and PG’s and people from working class.
2.3 Results of survey (question wise)

Will you prefer online site for finding you an accommodation?

About 75% of people preferred using an online portal instead of physically searching for an
accommodation .

From where did you get to know about your present accommodation?
Most of the people rely on their friends and acquaintances while searching for a place to live. Large sum of
people also follow recommendations from educational Institutes and workplace.
Are you satisfied with your present accommodation?
35.8% people rated that they are not satisfied with their present accommodation that means people not
comfortably living in their present accommodation. They face some problems which are not solved by their
PGs owners.

What are common problems you face?

Large no of people were facing problems related to food, potable water, rodents and pests, poor furnishing
and due to accommodation being far from workplace.
Facilities in your present accommodation?
The following graph shows the facilities that tenants currently avail in their accommodations.

Room/Flat Preference?
The chart below shows that majority people want single occupancy rooms followed by twin
sharing rooms and 3BHK flats.
Rent you are ready to pay for the above flat?

2.4 Detailed analysis of Survey

 According to survey conducted we found that 75% people preferred to use an online site to
find an accommodation. This shows that using an online site is the best way to move forward
in this business. Sites are more trusted because of the customer ratings and actual photographs
that are provided.

 The survey also showed that most of the people (48.9%) took accommodation either on
suggestions of their family members and acquaintances or based upon the recommendations
made by their work place (37%).
This shows that word of mouth plays an important role, which justifies the need of some staff
which physically transverses through the consumer market and provides personalized support
in searching home. Also about 1/5th of the audience already had faith on online sites, which is a
plus point.

 The survey shows that a staggering 36% of people were not satisfied by their present
accommodation and yet others did quite openly express the problems they faced in their day to
day living and were somehow not getting an opportunity to improve their standards of living.

 Food (59.9%), pest infestation (34.9%), poor furnishing (31%) were the main things that
people wanted to see improvement in, noisy surroundings, theft and safety issues and far away
accommodation from work place (28.6%) were other major problems.

 According to the survey, (36.3%) people want single room, which shows people prefer having some
private space. About (28.1%) people want twin sharing room and (11.9%) of people are fine with
3BHK flats.

 People are already willing to pay about 8,000 rupees as monthly charges and if marketed
properly they could easily be moved to the 10,000/pm rent category.
2.5 Conclusion
By observing the survey we conclude that nearly three-fourth of the people are ready to use
online sites to find an accommodation. This shows that using an online site is the best way to
move forward in this business. Most of these people refer friends and brokers this shows they
tend look for services to ease their purpose and our website is a step to remove the room search
hustle. Tenant face a lot of food and quality issues, so most of them are not satisfied with
present services therefore providing better quality rooms and deals as promised will attract
customers. People have personalised choice for their rooms and are willing to pay fair price for
the desired accommodations.