“CYCLOTRON – Electric Bicycles”

A Project Feasibility Report

submitted in partial fulfillment of the requirements for

the award of the Degree of

BACHELOR OF BUSINESS ADMINISTRATION

By

ABHISHEK KUMAR (BBA/15065/20)

AKANKSHA SINGH (BBA/15069/20)

KHUSHI VERMA (BBA/15057/20)

DEPARTMENT OF MANAGEMENT

BIRLA INSTITUTE OF TECHNOLOGY

PATNA CAMPUS

2022
 DECLARATION CERTIFICATE

This is to certify that the work presented in the project feasibility report entitled
“CYCLOTRON – Electric Bicycles” in partial fulfillment of the requirement for the award
of Degree of Bachelor of Business Administration of Birla Institute of Technology,
Mesra, Patna Campus, is an authentic work carried out under my supervision and
guidance.

To the best of my knowledge, the content of this feasibility report does not form a basis
for the award of any previous degree to anyone else.

Date: Dr. Sohini Ghosh

(Guide’s Name & Signature)
Department of Management,
Birla Institute of Technology,
Patna Campus.

Dr. Vijay Agarwal

Professor In-charge,

Department of Management,

Birla Institute of Technology,

Off Campus (Patna)

I
 CERTIFICATE OF APPROVAL

The foregoing project feasibility report entitled “CYCLOTRON – Electric Bicycles”, is

hereby approved as a creditable study of research topic and has been presented in
satisfactory manner to warrant its acceptance as prerequisite to the degree for which
it has been submitted.

It is understood that by this approval, the undersigned do not necessarily endorse any
conclusion drawn or opinion expressed therein, but approve the feasibility report for
the purpose for which it is submitted.

(Internal Examiner) (External Examiner)

II
 ACKNOWLEDGEMENT

It gives us immense pleasure to present the project titled “CYCLOTRON – Electric

Bicycles”, which has been completed by the coordinated efforts of many. We
express our deep gratitude and appreciation to all those who agreed to participate
in this project work, fortheir time expended and courage in sharing their insights
which helped us in completing this project work.

We would like to express great appreciation to our guide, Dr. Sohini Ghosh, for
her valuable and constructive suggestions during the planning and development
of this project work. Our deepest gratitude towards her efforts, patient
guidance, enthusiastic encouragement and useful critiques for this project work
as all these has helped a lot in completion of this project.

We would like to thanks again to Dr. Sohini Ghosh, who gave us opportunity to
do a project feasibility analysis, which helped us in better understanding of Indian
market and consumer behavior as well as needs. We would like to extend our
special gratitude to Dr. Sushil Kumar, who helped us a lot through financial part.

Finally, we want to thank our parents and friends for their continuous
support and encouragement throughout the project.

III
 ABSTRACT

This project report is a coordinated work on starting a new business, entitled

“CYCLOTRON – Electric Bicycles”.

The prime motive of the report is to present a detailed and viable model of
sustainable means of transportation providing. This will be done through adoption
of appropriate technology, utilization of resources and suitable market - strategy.

This project report tends to clarify all information and need about a product-
based business/venture. The report encompasses all the aspects of a viable
product and its demand in the market.

The project report went through all parameters to be proved. Report has been
tested under all feasibility check like market, financial and organizational. The
project report shows proper utilization of human resources.

As we know India is a developing country with a huge population and in

comparison, to that there is very a small number of businesses out there which is
providing a sustainable, healthy and cleaner solution for transportation. There is
a need to reach to local markets with these cleaner transportation solutions. To
counteract this problem, highly increasing demand of these products due to lack
of time. We came up with the idea of establishing an electric bicycle company.

Hence, this project serves a real time idea to solve and evolve for a better society
and future, fulfilling developing, cleaner and sustainable India and Indian needs.

IV
 CONTENTS

Chapter No. Chapter Title Page No.

Chapter 1 Introduction 1.1 Background Information about the

project
1
1.2 Description Of Proposed Business
1.3 Description Of product 2–3

3-4

Chapter 2 Significance Of
the Project
5

Chapter 3 Research 3.1 Data Collection Method 6

Methodology
3.2 Analysis of Data: Tools & 6
Techniques

3.3 Limitations of The Study

7

Chapter 4 Feasibility 4.1 Market Feasibility 8

Evaluation
4.1.1 Potential Market 8

4.1.2 Potential Customer 9

4.1.3 Existing Competition 9

4.1.4 Market Strategy 9

4.1.5 Sales Forecast 9 – 10

4.2 Financial Feasibility 10

4.2.1 Estimation of Capital 11

4.2.2 Estimation of Costs 12

V
 4.2.3 Estimation of Revenue 13

4.2.4 Balance Sheet for Minimum Two 14

Years

4.2.5 Income Statement for Minimum

14
Two Years

4.2.6 Break Even Point

14

15
4.3 Organizational Feasibility
15
4.3.1 Organizational Structure
15
4.3.2 Size of The Organization
15 - 16
4.3.3 Authorities and Responsibilities

Chapter 5 Findings Based On Evaluation Of 17

5.1 Market Feasibility 17

5.2 Financial Feasibility 17 - 18

5.3 Organizational Feasibility 18

Chapter 6 Conclusion 19

References 20

Annexure A Questionnaire 21 – 25

Annexure B Pictorial representation of the survey 26 - 33

report

VI
 CHAPTER 1

INTRODUCTION

The business idea, “Cyclotron - Electric Bicycles” is based on the motive to deliver a
futuristic and sustainable mode of transportation at an affordable price to the people of
Bihar. Many metropolitan cities in India are now leaning towards a sustainable mean of
transport. people are now using E-cycles (electric cycles)/E-bikes (electric bikes). It is one
of the newly emerged concepts here in Bihar and the concept of sustainable products are
often getting applauds and possible help from government of Bihar.

1.1 Background Information About the Project

The 21st century is the victim of pollution, environment imbalance and depleting natural
resources, this product will not only help in fighting with above mentioned problems but
will also come out to be an affordable means of transport. With the rapid increase in fuel
prices throughout the world, there has been a huge demand for any alternative means of
transport.

The prime purpose of this project is to deliver to the world, a futuristic mode of transport
at an affordable price. It can be used by all the age groups without any hustle of acquiring
licence to ride it. Apart from this, E-cycles are very easy-to-handle and can work on various
modes. The use of rechargeable battery in the vehicle makes it easier to drive as there is no
need of paddling the bicycle. It just needs to be charged and it will be ready for a ride,
setting one free from the burden of fuel prices. Also, if one is a health enthusiast then it can
be used on a battery-saver mode i.e., by traditional-paddling mode thereby taking full
advantage of the vehicle. If one is willing to ride it for a longer distance and do not want to
paddle much, then Turbo Drive can be used which allows its user to ride it without paddling
up to 35km/h.

In a nutshell, E-Cycles are low cost, energy efficient and emission free transport which runs
much faster than most people would cycle with physical health benefits.

1
As the major means of transport, impressed by the future of the vehicle, even the
government bodies are supporting them. Many metropolitan cities in India are now leaning
toward a sustainable means of transport, they are now using E-cycles/E-bikes. This project
aims at bringing this E-Cycle culture to Bihar. This project will initially start from Patna,
which is also the education hub of the state. Patna is now the place for various coaching
institutes, colleges and schools, which makes it a perfect market for this product. It is a
licence-free vehicle which will set students free from extra expenses that comes with motor
vehicles or rented public transport.

To protect the environment from ourselves and our actions, we have to switch to sustainable
options. Electric bikes, unlike other transportation means, do not burn fuels which release
carbon emissions into the atmosphere. It is a zero-emission vehicle. This means they do not
release the toxic gases and smog that result in respiratory and other health
problems. Electric bikes rely on either human or electric energy to be propelled. The battery
used by the bicycle is rechargeable with a long battery life. Individually, switching to riding
an electric bike will be lowering one’s carbon footprint in comparison to those using
conventional means of transportation.

1.2 Description of Proposed Business

“Cyclotron cycles” is an E- bike company which will be selling their offerings initially in
Patna and nearby places in future. E-Cycles/ Electric Cycles are motorized vehicles with
an integrated electric motor used to assist propulsion. Since it retains the ability to
be paddled by the rider, these are not considered as electric motorcycles. It uses
rechargeable battery and typical travel up to 25km/h to 35 km/h.

In Delhi, many local manufacturers are producing these E-bikes. They produce it for both
customers and businesses. This project aims to obtain design patents and customize them
according to the need as customization is available. After this, it will be launched under
Cyclotron brand here in Patna and then it will be supplied at the selected stores for sale.
These Delhi Manufacturers will work as the producing wing for initial phase. The main
benefit of this business model will be seen on business capital. Since, it will help to reduce
many costs like Research & Development, as the business will not be producing everything
on its own. This model will also help the business to gain a step ahead of competitors like
Hero E-cycles as this business will be able to sell this product at a comparatively low price.

2
1.3 Description of Product

This business project has only one product in focus which is electric bicycle that are low in
maintenance, weatherproof, easy to clean, durable and environment friendly. They are
cleverly designed and accessible.

The components in our product that we will be involving in our business are as follows:

• Stylish Bicycle with D frame

The D-shape frame of the bicycle gives it a stronger advantage to other frames as
the weight pressure on it gets distributed throughout the frame.
• Integrated Disc Brakes with alloy lever
The integrated disc brakes enable the rider to have better control of the movement
of the bicycle whereas alloy lever gives longer life and smooth finish of the lever.
• Turbo drive (35km/hr)
Turbo drive allows one to ride the bicycle without paddling up to 35km/hr.
• Alloy wheels with Tubeless tyres
Alloy wheels help in longer life of the bicycle whereas tubeless tyres require low
maintenance.
• Fibre Mud guard
The fibre mud guard allows better cleaning of the bicycle and gives a good look to
the bicycle design.
• 5 gears
The bicycle can run on 5 gears which gives the rider the option to control the
movement of the bicycle.
• 250 W BLDC Motor
The 250-watt brushless direct current motor gives the bicycle power to move on the
speed up to 35km/hr.
• LED Display
LED display allows user to access the information about battery status and the speed
of the vehicle.
• Head Lamp
The head lamp provides the rider an ease to travel in the dark as the head lamp will
lighten-up the upcoming path.
• Battery saver mode
3
 The battery-saver mode helps the rider to ride the bicycle by paddling and charge
the battery.
• IP67 Rating 24V, 2A Battery.
The IP67 rating batteries are known for their water resistance qualities while 2A
24V battery will give power to electric motor.

4
 CHAPTER 2
SIGNIFICANCE OF THE PROJECT

The business project “Cyclotron Electric Bicycles” plays a vital role in different aspects of
sustainability as well as healthy lifestyle. The significance of the project is enlisted below

SIGNIFICANCE FOR THE ENVIRONMENT

• This business venture will function on the concept of adding a positive effect to the
environment and its conservation.

• E-cycles generate no pollution and hence provide a better solution for means of
transportation.

• Electronic mode of transportation helps to reduce greenhouse gas emissions and make the
heavily crowded places less polluted.

• E-cycles function on either man-power or electric battery which means it’ll not burn diesel
or petrol, the price of which is surging drastically all over the world.

• The electric motors are much quieter than combustion engines, so it will help in reducing
some noise pollution as well.

• E-bicycles are considered to be sustainable as they provide environmental, social and

economic benefits while protecting public health and environment.

SIGNIFICANCE FOR THE SOCIETY

• Electric bicycle will help in getting a good cardiovascular exercise while riding without
turbo drive mode.

• It offers low cost, energy efficient, and emission-free transportation which also has
physical and health benefits.

• It will provide a faster mean of transportation than normal bicycles without affecting the
environment.

• It provides a hassle-free mean of transportation with very less maintenance cost.

5
 CHAPTER 3
RESEARCH METHODOLOGY

3.1 DATA COLLECTION METHOD

Data type: Primary Data

For this project, data has been collected through Primary data collection method that is
through Questionnaire. The questionnaire has been prepared and distributed among
people mostly living in areas like Boring Road, Bailey Road and Ashok Rajpath. For
conducting the survey, primary data has been collected. The questionnaire contains
fifteen close ended questions for the data collection. It is divided into two parts; first part
of the questionnaire focuses on the respondent’s life. It asks demographic questions like
respondent’s age, occupation, monthly income, travelling time and money spent on fuel.
Further, it also checks whether the respondent has any experience of electric scooter or
not and their view on it. These questions will help in discovering the background of the
respondent, thereby a right market for the product. The second part of the questionnaire
has been designed to predict their reaction on the product. The series of price related
questions in this part is for knowing the expected pricing for the product in a way that
will ease it in creating a market for itself.

3.2 Analysis of Data: Tools & Techniques

Primary data analysis in this project involves real data analysis, determining the research
question, and then evaluating the data relation that might be used for specific purposes. It
will be helpful to understand how this data can be used in this project and how it relates to
finding conclusions. Primary data analysis will be performed with original data as it
involves the researcher using the collected data to answer the research question or to
support or reject the research hypothesis.

The primary data collected from respondents was analyzed by using the percentage, chart
analyzing method by using Excel Diagrams for better pictorial understanding.

6
3.3 Limitations to The Study

While e-cycles have innumerable benefits it would not be prudent to turn a blind eye to
the

limitations of this innovation which current developments have not yet been able to
resolve.

1. The capacity of the battery depends upon the type of battery being used. It is difficult

for the e-cycles to provide sustained power output and a higher capacity for an

elongated trip time. While there is still room for innovation, this shortcoming cannot be

ignored.

2. The cost of running an e-cycle include the cost of charging an e-cycle which are high

in the current state of developments. With further developments in this field, it Is

possible to reduce the running costs of e-cycles but this is not the case at the moment.

3. Electrifying the entire transportation sector is massive step and even making a
transition

as small as shifting to e-cycles for daily mobility requires mass efforts and time. Hence,

it is an extremely ambitious approach.

4. It is not easy to find a viable market for advertising e-cycles as a viable individual

transportation option for the citizens of India as states like Bihar which are heavily

populated and lack the resources to even purchase a basic and traditional commuting

vehicle would be averse to the idea of E-cycles as a viable and cheap mode of

transportation.

7
 CHAPTER 4
FEASIBILITY EVALUATION

4.1 Market Feasibility

Market feasibility refers to market research report that aims to provide detailed and
comprehensive analysis. It also determines whether there is a sufficient demand to make
the venture a success or not. Marketing strategy is a long term, forward-looking approach
and an overall game plan of any organization or any business with the fundamental goal
of achieving a sustainable competitive advantage by understanding the needs and wants
of customers.

Market potential determines the following:

1) Current market situation: - In this project, EMA (effective market area) will be utilized
which is

developed by Danter and Associate. The EMA refers to the smallest geographical area
from

which a project can expect to produce 65% to 75% of its support. some features have
been taken into consideration such as geography, academic population density area, etc.

2) Market response to the proposed project.

4.1.1 Potential Market

A potential market is the market that we will be aiming at capturing in the future.
Precisely, it is a demographic group which are not the potential customers till now but
might become in near future, hence the project will expand this brand promotion in the
areas where people are facing air pollution problems or lack of transportation facilities.

4.1.2 Potential Customer

Students who are residing far from their educational institutions and find it difficult to
travel due to lack of direct transportation facilities can act to be the largest customer base.

In addition to this, citizens who are looking for a cost effective, pollution-free and
sustainable means of transport will also be the potential customers.

8
4.1.3 Existing Competition
The rooted businesses in Bicycle industry like Hero bicycles, BSA bicycles, Hercules
bicycles, etc. and electric vehicle industry like Hero electric, Ampere, Ather energy,
Okaya electric, Ola electric, etc. can be our existing competition.

4.1.4 Market Strategy

Market strategies that we using in our project are as follows: -

• Price Penetration: - Our business will concentrate on acquiring a large chunk of

market segment through price penetration strategy as available EV bicycles are
too costly.

• Differentiation: - Our business will focus on achieving superior performance by

being able to fulfil the gaps left by our competitors in terms of quality, cost, style,
technology, sustainability, etc. We will differentiate ourselves through a unique
and cost-effective distribution system.

• Place: - Our business is targeting places which are more student-dense zones,
which means places near educational institutions like schools, colleges,
educational hubs, etc. as our main target customers are students.

4.1.5 Sales Forecast

Sales forecast is defined as the process of estimating future revenue by predicting the
amount of product or services a sales unit which can include individual sales person, a
sales team, customer or a company which will sell in the next week, Month or Year.

9
Sales Forecasting for one year

No. of customers

Products/ Models Per day Per month Per year

Cyclotron mark 1 6 180 2200

Cyclotron mark 2 5 150 1800

TOTAL SALES YEAR 4000

Sales Forecasting for Two years.

Products/ Models 2022-2023 2023-2024

Cyclotron mark 1 2200 2300

Cyclotron mark 2 1800 1900

TOTAL 4000 4200

4.2 Financial Feasibility

Financial Feasibility assesses the economic viability of a proposed
business venture. It helps in evaluating the different financial
consideration like estimation of capital, estimation of cost,
estimation of revenue and the overall performance of the business
through Income Statement and Balance Sheet.

10
4.2.1 Estimation of Capital:

Operating Expenses ₹
Wages and salary 30,00,000
Advertisement 3,00,000
Insurance 30,000
Transportation 6,30,000
Utilities expenses 60,000
Warehouse 2,40,000
Inventories 1,44,00,000
Other expenses 10,000
Sub Total (A) 1,86,90,000

One Time Cost ₹

Office Equipment 60,000
Furniture and Fixtures 90,000
Legal and other professional fees 10,000
License and Permits 10,000
Advertisement and Promotion for opening 1,20,000
Other onetime expenses 22,000
Sub Total (B) 3,10,000

Projected Capital Required (A+B) = ₹1,86,90,000+ ₹3,10,000

= ₹ 1,90,00,000

11
 4.2.2 Estimation of Cost:

Variable Cost

Items ₹
Inventories 1,44,00,000
Transportation 6,30,000
Other expenses 10,000
Sub Total (A) 1,50,60,000

Fixed Cost

Items ₹
Wages and Salaries 30,00,000
Advertisement 3,00,000
Warehouse 2,40,000
Insurance 30,000
Office equipment 90,000
Utilities expenses 60,000
Furniture and Fixtures 90,000
Legal and other professional fees 10,000
Advertisement and Promotion for opening 1,20,000
Other onetime expenses 20,000
Licence and Permits 10,000
Sub Total (B) 39,40,000

Total Estimated Cost = Fixed Cost + Variable Cost

= ₹ 1,50,60,000 + ₹ 39,40,000

= ₹ 1,90,00,000

4.2.3 Estimation of Revenue

Estimation of Revenue for year 2022 - 2023

12
 2023 (₹) 2024(₹)
Total Sales Revenue (X) 5,40,00,000 5,67,00,000
Total Cost of Sales (Y) 3,60,00,000 3,78,00,000
Gross Profit (Z=X-Y) 1,80,00,000 1,89,00,000
Sales and Marketing Expenses
Advertisement 3,00,000 3.00,000
Other Expenses 60,000 80,000
Total Sales and Marketing Expenses (A) 3,60,000 3,80,000
General and Administration expenses
Utility Expenses 1,20,000 1,40,000
Wages and Salaries 60,00,000 60,00,000
Warehouse 2,40,000 2,40,000
Transportation 14,00,000 14,70,000
Insurance 60,000 60,000
Total General and Administration Expenses (B) 78,20,000 79,10,000
Total Operational Expenses (C=A+B) 81,80,000 82,90,000
Net Profit (Z-C) 98,20,000 1,06,10,000

Product Projected sales per Price Sales Revenue

annum (Rupees per unit)
E-bicycles 4000 13,500 5,40,00,000

Total Revenue per Annum = 5,40,00,000

13
 P&L Account for the year ended 31.03.2023 and 31.03.2023:

4.2.4 Balance sheet for two years:

Liabilities 31st March 31st March Assets 31st March 31st March
2023 (₹) 2024 (₹) 2023 (₹) 2024 (₹)
Capital Office 60,000 60,000
Equipment
(A) ₹65,00,000 Fixture and 90,000 90,000
Furniture
(B) ₹65,00,000 Inventories 3,20,00,000 3,36,00,000
(C) ₹ 60,00,000 1,90,00,000 1,90,00,000 Cash in hand 25,000 75,000
Net Profit 98,20,000 1,06,10,000 Cash at bank 25,000 75,000
S. creditors 27,00,000 37,00,000
Bill payable 6,00,000 5,00,000
Bank overdraft 80,000 90,000

Total 3,22,00,000 3,39,00,000 Total 3,22,00,000 3,39,00,000

4.2.5 Income Statement for two years:

Particular 2023 (₹) 2024 (₹)

Sales 5,40,00,000 5,67,00,000
Net Sales 5,40,00,000 5,67,00,000
Less: COGS 3,60,00,000 3,78,00,000
1,80,00,000 1,89,00,000
Gross Profit 1,80,00,000 1,89,00,000
(A)
Selling Expenses 3,60,000 3,80,000
Add: Administration Expenses 78,20,000 79,10,000
Total 81,80,000 82,90,000
Operation
Cost (B)
Income before Tax (A-B) 98,20,000 1,06,10,000
Less: Tax 26,00,000 27,30,000

Net Income 72,20,000 78,80,000

4.2.6 Breakeven Point

Breakeven Point = Fixed cost / (Revenue per unit – variable cost per unit)

= 39,40,000/ (13,500-3765)

=39,40,000/9735

= 405

14
 4.3 Organizational Feasibility
Organizational feasibility analysis will play a vital role in determining whether in this
proposed business that is "Cyclotron Electric Bicycles” has sufficient management
expertise, organizational competence, and resources to successfully launch this business.

4.3.1 Organizational Structure

For this business venture we propose to use horizontal structure as this is an organizational
chart which is mostly adopted by small companies and start-ups in their early stage. This
will enable the administration to make decision quickly as many levels of middle
management will be eliminated.

Thus, the smooth distribution system will be more productive and reliable by directly
getting involved in the whole process.
BUSINESS OWNER

PROJECT MANAGER

DESIGNER SUPERVISOR MARKETER ACCOUNTANT PROGRAM

MANAGER

4.3.2 Size of The Organization

The size of the organization is the number of the employees in the structure of the
organization geographical location. So, for this business venture, a group of 23 employees
have been chosen as the size of the organization which will include Designer, program
supervisor, product marketer, organization accountant, program manager, supporting staff,
etc.

15
4.3.3 Authorities and Responsibilities
The authorities and responsibilities are as follows:

1.Business Owner:

Business owner will provide direction to the business and helps in communicating and
implementing the organization’s vision, mission, and overall direction. They will also help
in the development and implementation of the overall organization’s strategy and are
responsible for financial instruments clearance and documents on behalf of the company.

2.Supervisor:

Supervisors will communicate organizational needs. They will be responsible for

supervising implementation and advocating for the customer’s needs, and communicating
with clients. They will visualize the smooth running of the daily office and factory activities
and control the overall work in the organization.

3.Marketer:

Marketers will Identify the development opportunities. He will Write marketing messages
for online and offline campaigns. One needs to be a good communicator so as to collaborate
with brands and maintain cordial relationship with teams.

4.Accountant:

Accountants will be responsible for preparing financial reports, budgets, and financial
statements for the organization. They will also be responsible for managing financial
systems. They will identify the financial risks involved and analyze the financial feasibility
of the proposed business.

5.Program Manager:

Program managers will help in creating and managing long term plans of business. They
will develop new ideas to support the strategic direction. They are responsible for decision
making and also for managing the resources.

16
 CHAPTER- 5

FINDINGS

5.1 Findings based on market feasibility

Through the market feasibility analysis that has been performed for this project, it is clear
that the current market has the potential for cyclotron e-bicycles. This business venture is
in great demand as it is adding a positive effect to the environment and its conservation
through sustainability.

Students already living in Patna or any age group person who wants to contribute to
nature and sustainability along with ease of transportation and healthy means of transport
are being considered greatly as potential customers.

Electric vehicle industry has seen a boom in recent times and it is a well-established
market but the market for innovative ideas like e-bicycles is not much saturated and hence
it is a wonderful opportunity to bring it soon in local market as there is already a high
demand for it (Based on Fig: chart 6,7 and 11).

With the rapid increase in fuel prices throughout the world, there has been a huge demand
for any alternative means of transport and bringing e-bicycles in the market at this time
will only benefit the sales of this venture.

5.2 Findings Based on Financial Feasibility

The findings from the financial feasibility suggests that this project has economic
viability and that it has been assessed appropriately. The financial feasibility finding was
helpful in determining the capital required, where it will come from and how it will be
spent. After the estimation of the required capital, it was found that the projected capital
requirement is Rs. 1,90,00,000.

17
It was also calculated that the estimation of cost for this project in which variable cost
comes around Rs. 39,40,000 is Rs. 1,90,00,000.

The revenue estimation which involved calculating the amount of money this venture is
likely to generate helped in calculation of revenue per annum for the first year which is
equal to Rs. 5,40,00,000.

The balance sheet has been prepared for two years in which assets and liabilities are
properly balanced. A balance sheet is a summary of all of the business assets and
liabilities and it is also known as “Statement of financial position” because it provides a
picture of the assets and liabilities of the business venture.

An income statement which is also known as the Profit and Loss Statement or the
statement of revenue and expense is one of the most important financial statements used
for reporting a company’s financial performance over a specific accounting period. The
net profit for “Cyclotron E-bicycles” is calculated as Rs. 98,20,000 for year 2022-2023
and Rs. 1,06,10,000 for the year 2023-2024.

5.3 Findings Based on Organizational Feasibility

From the organizational feasibility that was done for this project, it was found that this
business venture can have a horizontal structure as it cuts down intermediaries and it
includes business owners, project managers, designers, supervisors etc.

An estimation was made as of how much employees are required in this business venture
and then the authorities and responsibilities were divided between the owners,
supervisors, marketers according to their work experience and skills.

Finally, the size of the organization which involves the number of employees at any given
geographical location was also estimated. For this project, a group of 23 employees was
chosen which involves a group of designers, accountant, supporting staff, etc.

18
 CHAPTER 6
CONCLUSION

Feasibility analysis for the venture ‘Cyclotron – Electric Bicycles’ concludes that the
project is feasible. The feasibility analysis has checked the various aspect of the venture
like Market, Finance and organization and has proved its feasibility in the respective
sectors thereby making the venture a feasible one.

Based on Market feasibility analysis and survey it has been found that there is a wide
scope for this product. The potential market and the customers were identified. There is
awareness for electric vehicles since a quite long time. (Based on FIG: chart 6,7 and 11) It
was also seen that with the rapid increase in fuel prices throughout the world, there has
been a huge demand for any alternative means of transport and hence this project turned
out to be effective. (Based on FIG: chart 3,10 and 11).

The survey that was conducted, helped the venture in proving that people are opting for
sustainable vehicles which means that there is a wide scope for these products. The
survey not only helped in showing the feasibility of the venture but also helped it in
identifying its precise market.

Further, from the estimated Finance business, Cyclotron calculated that how much capital
is required for a proposed business and how that capital will be spent. This will help
Cyclotron to plan out its expenses which will help it in achieving its goal and evaluating
its success.

Lastly, from the organizational feasibility analysis it can be concluded that every
organization has different structures and the one that suits this business venture is
'Horizontal Structure’. It was then divided into authorities and responsibilities according
to their skills.

19
 REFERENCES
1. “Background information of the project” retrieved from

https://www.mordorintelligence.com/industry-reports/india-e-bike-market

accessed on 20th February, 2022.

2. “Description of the proposed business” retrieved from

https://www.markelinsurance.com/resources/bicycle/benefits-of-e-bikes#:~:text=E-
bikes%20allow%20you%20to,speeds%2C%20keeping%20up%20with%20traffic

and

https://store.blive.co.in/advantages-of-an-electric-cycle/

accessed on 25th February, 2022.

3. “Tools and Techniques for data analysis” retrieved from

https://statistics.laerd.com/spss-tutorials/bar-chart-using-spss-statistics.php

accessed on 1st March, 2022.

4. “Limitations of this project” retrieved from

https://easyebiking.com/what-are-the-disadvantages-of-electric-bikes/

accessed on 6th March, 2022.

5. “Market feasibility of electric vehicles” retrieved from

https://www.alliedmarketresearch.com/electric-bikes-market/amp

accessed on 9th March, 2022.

6. “Existing competition” retrieved from

https://e-vehicleinfo.com/top-5-electric-bicycle-manufacturers-in-india-e-bicycle/

accessed on 12th March, 2022.

7. “Horizontal organizational structure” retrieved from

https://smallbusiness.chron.com/advantages-horizontal-organizational-structure-
30904.html

accessed on 27th March, 2022.

20
 ANNEXURE (A)

QUESTIONNAIRE
1. What is your current occupation?
A) Business Man
B) Service Man
C) Student
D) Any other, specify: _______________

2. What is your monthly average family income level?

A) 0 - ₹20,000
B) ₹20,000 - ₹30,000
C) ₹30,000 - ₹40,000
D)Above ₹40,000

3. What is your age group?

A) 15- 25
B) 25- 35
C) 35- 40
D)Above 40

4. Cost spent on petrol/ride fares per month?

A) 0 - ₹1000
B) ₹1000 - ₹2000
C) ₹2000 - ₹3000
D) more than ₹3000

21
5. Time required to reach school/college/workplace.
A) 0 - 30 minutes
B) 30 minutes - 1 hour
C) 1 hour - 2 hours
D) More than 2 hours

6. Do you use electric scooter?

A) Yes
B) No

7. If yes in previous question, how long have you been using it?
A) since last year
B) since last two years
C) since last three years
D) Before three years

8. What is that you don’t like about electric scooter?

A) Maintenance cost
B) Fuel cost
C) Battery performance
D) Any other, specify: _______________

9. Where did you first learn about electric scooters?

A) Social media
B) In store visit
C) Through friends or family
D) Any other, specify: _______________

22
Imagine a bicycle which do not need to be paddled, can run up to 35km/hr. and do
not even require petrol, saving lots of money and help preserve the environment.
Simply plug it into the socket, charge it like a mobile phone and enjoy the hassle
free, environment friendly and pocket friendly ride. It comes with a LED display and
water-resistant battery so we do not need to worry about it getting wet. Also, you
will be contributing in sustainable development without harming the nature.

10. On the scale of 1 to 5, how innovative is our product?

1) Not at all likely

2) Not in near future
3) Considerable
4) Very likely
5) Extremely likely

11. On the scale of 1 to 5, assuming the price was reasonable how likely would you be to
consider buying our e-bicycle?

1) Not at all likely

2) Not in near future
3) Considerable
4) Very likely
5) Extremely likely

23
12. Why would you not consider buying our e-bicycle?

A) Not interested in Bicycles

B) New product
C) New Brand
D) I will consider buying
E) Any other, specify: _______________

13. At what price would you consider the product to be a great buy for the money?

A) ₹10,000-₹20,000
B) ₹20,000-₹30,000
C) ₹30,000-₹40,000
D) Above ₹40,000

14. On the scale of 1 to 5, How likely would you switch your normal bicycle with our E-
Bicycle?

1) Not at all likely

2) Not in near future
3) Considerable
4) Very likely
5) Extremely likely

24
15. On the scale of 1 to 5, How likely would you recommend our product to your
friends and relatives?

1) Not at all likely

2) Not in near future
3) Considerable
4) Very likely
5) Extremely likely

25
 ANNEXURE (B)
Pictorial representation of the survey report that was conducted for this
project.

4.3%
2.7%

FIG: CHART 1

- Here, the graph demonstrates the percentage of potential customers from different
occupations.

6.8%

6.8%

FIG: CHART2

26
- Here, the chart gives the idea of different individuals belonging to different
income brackets.

FIG: CHART3

- Here, the chart describes the money people are spending on petrol or fare rides.

What is your age group?

45

0 1

15 to 25 25 to 35 35 to 40 40 Above

FIG: CHART4

27
- Here, the graph shows the age group of potential customers for this project.

FIG: CHART5

- Here, the pie chart depicts the time taken by different individuals to reach their
school, college or workplace.

FIG: CHART6

- Here, it is clear that majority of the respondents use or have used electric scooter
earlier.

28
 FIG: CHART7

- Here, the chart shows that there is an awareness about electric vehicles already
among the mass since quite few years.

What is that you don’t like about electric scooter?

13.9
17.2

Maintenance cost
10.3 Charging cost
Battery performance
Others

58.6

FIG: CHART8

29
 - The data shown in this chart will help in considering and eradicating the
limitations of this project.

6.2%

FIG: CHART9

- The chart shows the medium through which advertisement for this project will be
effective.

On the scale of 1 to 5, how innovative is our product?

50

45

40

35

30

25
45.5
20

15 31.8

10 18.2
5
2.3 2.3
0
1 2 3 4 5

FIG: CHART10

30
 - This graph will help to get the idea about the impact for the product through this
survey.

On the scale of 1 to 5, assuming the price was reasonable how likely would you be to
consider buying our e-bicycle?

40

35
34.1 34.1
30

25

20
20.5

15

10
9.1
5

2.3
0
1 2 3 4 5

FIG: CHART11

- Here, the bar graph collected will provide the idea about how convincing the
product is.

31
Why would you not consider buying our e-bicycle?

4.2 3.5

Not interested in bicycles

33.3
New Product
New brand
38.5
I will consider buying
Others

20.5

FIG: CHART12

- Here, the pie chart describes the possible threats which can reduce the sales of this
venture.

FIG: CHART13

32
 - Here, the chart will provide the idea about the suitable pricing for the product.

On the scale of 1 to 5, How likely would you switch your normal bicycle with our E-
Bicycle?

40

35

30

25

20
37.2

15

23.3 23.3
10

5 9.3
7

0
1 2 3 4 5

FIG: CHART14

-
Here, the bar graph will help in analyzing the demand for the product in the bicycle
customer base.
On the scale of 1 to 5, How likely would you recommend our product to your friends
and relatives?
50
45
40
35
30
25
44.2
20
15
10
14
5
0 2.3 2.3
1 2 3 4 5
. FIG: CHART15

33