MINI PROJECT REPORT

Submitted in partial fulfillment of Master of Business Administration

Session-2021-2022

“FLAT ON RENT.U {F.O.R.U}”

Faculty Guide Submitted By:

Ms. Mandakini Garg Ayush Singh Chauhan

Faculty-Master of Business Administration 31003

PRANVEER SINGH INSTITUTE OF TECHNOLOGY

Affiliated to Dr. A.P.J. AKTU
 DECLARATION

I hereby declare that this submission is my own work. It contains no material previously published or

written by another person, nor has this materials to a substantial extent been accepted for the award of

any other degree or diploma of the university or other institute of higher learning.

Ayush Singh Chauhan

Pranveer Singh Institute of Technology

 CERTIFICATE

Pranveer Singh Institute of Technology

 ACKNOWLEDGEMENT

Mini Project Report is the one of the important part of MBA program, which has helped me to gaina lot of

experience, which will be beneficial in my succeeding career. For this with an ineffable sense of gratitude I

take this opportunity to express my deep sense of indebtedness and gratitude to Dr. S. K. Bhalla, Director -

Pranveer Singh Institute of Technology and Dr. Harit Kumar , Head of Business Administration

Department, for their encouragement, support and guidance in carrying out the project.

I am very much thankful to, my Project Guide Assistant professor Ms. Mandakini Garg , Faculty – MBA

Department for his/her interest, constructive criticism, persistent encouragement and untiring

guidancethroughout the development of the project. It has been my great privilege to work under his

inspiring guidance.

I am also thankful to my parents and my friends for their indelible co-operation for achieving the goals of this

study.

Pranveer Singh Institute of Technology

 TABLE OF CONTENT

Page no
▪ EXECUTIVE SUMMARY 1

▪ DESCRIPTION OF BUSINESS IDEA 2

▪ INTRODUCTION (Importance and Relevance of Business Plan) 3

▪ FEASIBILITY ANALYSIS/ Plan of Action – Product , Industry ,

Organizational , Financial

A. Product Feasibility-4-5
• Concept Testing
• Usability Testing
B. Industry Feasibility- 6-10
• Target Industry Attractiveness
• Pestle Analysis
• Market Timeless Considerations – Potter’s Five Forces Mode
C. Organizational Feasibility – Management process 11-14
• Human Capital Requirement
• Human Resource Expense
• Blue Print / including an organizational chart
D. Financial Feasibility- 15

• Capital Requirements description.

E. Marketing Feasibility- 16-25

• 7 P’s Of Service Marketing/ 4 Ps of Marketing

• STP

• Other Marketing Strategies .

▪ CONCLUSION 26

▪ BIBLIOGRAPHY 27

Pranveer Singh Institute of Technology

 Executive Summary

This project study covers the feasibility of a business idea – a Flat On Rent. U (F.O.R.U) in the city of

Kanpur, Uttar Pradesh . The study is the preliminary of a business plan. Therefore, it aims to discover the

environment surrounding the Landlords in Kanpur, Uttar Pradesh. The project study employs descriptive

approach, using both quantitative and qualitative methods. The data collection includes both primary and

secondary data. The primary data is collected through focus group, interviews, and questionnaire. The

secondary data is retrieved from books, articles, and reports. The study evaluates the business idea, using a

feasibility analysis. Four different aspects of a business idea are analysed: product and service feasibility;

industry and market feasibility; organizational feasibility; financial feasibility. Different tools are used to

deliver the results such as PESTLE, Porter’s Five Forces, financial and resources theory. The key results

include market situation and regulations related to a Rental Business, and estimated finance for the

business. In conclusion, the Flat On Rent. U (F.O.R.U) is a feasible idea. Furthermore, the target group is

also open towards more franchises of Flat On Rent. U (F.O.R.U). The business is financially feasible,

thanks to the support of Startup India scheme launched by PM Narendra Modi or The Industrial

Development Bank of India . Regardless, it is not possible to open a Flat On Rent. U (F.O.R.U) in the

designated area due to urban planning limitations.

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 DESCRIPTION OF BUSINESS IDEA

Flat On Rent. U (F.O.R.U) is a Local platform that empowers entrepreneurs and small businesses with rooms

and homes by providing full stack technology that increases earnings and eases operations. Bringing

affordable and trusted accommodation that guests can book instantly. We strive to make the lives of our

patrons easier by multiplying revenue channels and using our technological expertise to maximize demand.

Overall, we include that our current products, services and banner and strategy will ensure a strong market

presence and continued revenue growth. However as a part of our growth model, we will regularly examine

new services, products, and categories, content to support demand.

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 INTRODUCTION

Importance and Relevance of the business plan – Flat On Rent. U (F.O.R.U)

For a good business idea creative thinking is important. You just have to look around for oppurtunities to

make your dream come true. You never know how a vacation of yours could give a profit earning idea. Last

year I found that there are countless Migrant student, migrant labour and needy person. Who want rooms in

rent, there are many landlords who want that people own their rooms in rent so that they will earn some

money.

Importance:

Nowadays, network plays an important role in people’s life. In the process of the improvement of the

people’s living standard, people’s demand of the life’s quality and efficiency is more higher, the traditional

approach for searching room and tenant inconvenience gradually emerge, and the online website has

gradually be used in public. The online website system based on the principle of providing convenience and

service to people.

With the online website service of Flat On Rent. U (F.O.R.U), will help countless Migrant student, migrant

labour and needy person. Who want rooms in rent, there are many landlords who want that people own their

rooms in rent so that they will earn some money.

A spectrum of Rental Properties, from flats to townhouses are available with us at attractive prices. If

seeking a homely feeling with utmost comfort then believe us, we have plenty of choices. We offer a

portfolio of many housing properties which are vacant with us right now. These properties have world-class

amenities, attractive rental plans, and simple paper works. From semi-furnished to furnished and from short

rental plans to long rental plans all are on our list.

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 Feasibility Analysis

Here, both primary and secondary data are utilized to define The Flat On Rent. U (F.O.R.U) feasibility. The

first sub part presents product feasibility, using the data from empirical research. Next, the second part

provides an indepth analysis of the industry and market. Then, the third part evaluates The Flat On Rent. U

(F.O.R.U)’s organizational feasibility. Finally, the finance feasibility is presented.Product Feasibility

In order to determine Flat On Rent. U (F.O.R.U)’s product feasibility, The Concept testing and Usability

testing have to be implemented. In this part, findings about The Flat On Rent. U (F.O.R.U)’s products are

presented.

Concept Testing

Product Flat On Rent. U (F.O.R.U) will provide people with beautiful and unique separate room , Garden

Area, Couple Section and Family Seating areas distributed in about A trained chef will head the kitchen and

there will be well organized other staff for the smooth functioning of the flat with great hospitality.

Flat On Rent. U (F.O.R.U) Homes are specially designed to give you a unique and distinctive

accommodation experience. Each one is built in a way that corresponds to its beautiful surroundings and

comes along with the same level of service, amenities, comfort, and convenience that is ensured by Flat On

Rent. U (F.O.R.U) If you are someone who wants to stay at a cozy, home-like residence at an affordable

price- then Flat On Rent. U (F.O.R.U) will provide just the right option for you. They are completely private

homes that offer high-quality amenities, service, and surroundings and are managed by the Flat On Rent. U

(F.O.R.U) team. Ranging from villas to apartments, homestays to cottages, studios to country houses.

Target Market:The target market is all age group of people who are lower class and needy person who

want room in rent as per their convenienceWhy The Flat On Rent. U (F.O.R.U) .

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 Special feature : The residence providing industry continues to grow. There will be a new and exciting

residence facility launched in the industrial city of Uttapradesh, Kanpur. Management team : The Flat On

Rent. U (F.O.R.U)is led by its co-founders Ayush Yadav and Rishabh Singh Chauhan and Ayush Verma.

Usability Testing

During the Usability testing, participants try all signature products of The Flat On Rent. U (F.O.R.U). Despite

the difference in taste and preference, all participants agree on some aspects. First, participants agree that Flat

On Rent. U (F.O.R.U) place is very peaceful and hygienic. Second, they are also interested in the look and feel

of the ambience of the flats/rooms. Third, they are intrigued with the surroundings.. The result of the Usability

Testing shows that participants still prefer their usual choices for the low cost rooms. They would only buy the

product occasionally. Participants also provide some critical features and improvements for Flat On Rent. U

(F.O.R.U). First, the products need precise place to maintain goog mobility of the customers. Second, beautiful

ambience and good service are their most desirable amenities In order of usability testing from a general point

of view, An online questionnaire is conducted. In the questionnaire, respondents are provided a description for

each type of room and the ambience of the flats. Then, they are asked for opinions about the products. 90,2%

respondents would like to visit and try at least one room with kitchen and washroom facility. It is no surprise

that “flats” is the top choice, given that it is the most relevant place for rich Kanpur people. On the other hand,

“single rooms” receives support from respondents. The reduction in respondents’ buying intention shows that

customers are skeptical about new policies and they may not choose to take when they go to residence

providers. But overall, respondents are very open to try out new facilities. Additionally, 90,9% of respondents,

who have tried the room service, say they would visit the rooms again. The result suggests a promising market

for the Flat On Rent. U (F.O.R.U)’s individual rooms as long as the new offers are introduces to the

consumers. The questionnaire also discovers customers’ perception on the value of the flat’s light and water.

70,4% would pay the same price to their usual living places, while 26,2% would pay a higher price for the

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 living places. These insights will help Flat On Rent. U (F.O.R.U) to decide where to position its product on the

market.

Target Industry Attractiveness

Choosing a target market is vital to the success of a business. for The Flat On Rent. U (F.O.R.U), target group

were selected through geographical and demographical segmentation. As presented above all age group of

people in Kanpur have been chosen as the target market of The Flat On Rent. U (F.O.R.U). As a State,

Uttarpradesh has a industrialism culture. Furthermore,. On a city level, Kanpur is a vibrant and industrial city.

Through observation and market segmenting, people, within the age of 14 and 64 are targetted. In addition to

the population of Kanpur there is a large number of migrants and students visit the place.

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 PESTLE Analysis

First of all, it suggests PEST analysis as a tool to examine the macroenvironment. He also writes that PEST

can be extended further to cover different aspects of the industry. With the same suggestion, Ayush Verma

also proposes PEST, PESTEL and several variants of PESTLE analysis. Given the characteristics of the

residence providing industry, the author decides on PESTLE as the analysis method for macro-environment.

The six key areas that are covered in PESTLE: political, economic, sociocultural, technological,

environmental and legal aspect.

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 Political: The factors include government attitude to employment, consumer protection, the environment,

taxation, trade restrictions, societal reforms, as well as the burden of bureaucracy and the level of corruption.

Nowadays, the development of government bodies and the growth of global trade and multinational

organization can affect the business indirectly.

Economic: Flat On Rent. For U (F.O.R.U) rooms sets it prices according to their occupancy. Suppose, they

have 1 out of 2 rooms vacant, their system will automatically set it's prices to lower prices and if they have

less rooms vacant, system will set prices to higher. Because, Flat On Rent. U (F.O.R.U) believes that instead

of selling 2 rooms for higher prices and keeping the another rooms vacant makes a loss to the landlord. So,

they serve according to occupancy of rooms. Flat On Rent. U (F.O.R.U) rooms keeps track of their standards

on every property that customer should not face any problem during stay. Proper training to Flat On Rent. U

(F.O.R.U) staff is provided regularly. They have reliable support team which helps you in every problem from

check-in to check-out. In case you face any problem in rooms or do not like the room you can always get your

stay shifted from support team. They are always happy to help you.

Socio-cultural: The factors include demographics, population, employment, income, education and career

trends, social and cultural conventions. These changes can be subtle and hard to identify.

Technological: The factors include the development of technology in manufacture and infrastructure. Change

in technology happens more and more frequently. Flat on Rent. U (F.O.R.U) will require to keep up with

technology or face the risk of new entrants and competitors.

Legal: The factors include current and impending legislation that may affect the industry. Similar to economic

and political factors, businesses should also consider legal aspects from other countries since they may affect

the operation. When a landlord lets out his home on rent, or when a tenant occupies a rental home, such

activities fall under the ambit of the Rent Control. The broad idea of the Rent Control Act, is to settle disputes

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 between the landlord (licensor) and the tenant (licensee). Flat on Rent. U (F.O.R.U) will make sure to follow

all legalities and poses the license.

Environmental: The factors include infrastructures, energy availability and cost, and the ecological

consequences of production processes. In Kanpur there are many people who come here to study, do work , do

business and do some.

Market timeliness consideration:

Potter’s five forces model

Porter’s Five Forces as a useful tool for analyzing the industry attractiveness. Porter’s work looks at the

industry structure and a company’s competitive strength and positioning relative to that industry depictsthe

five forces. Threat of new entrants: • For Flat On Rent. U (F.O.R.U) threat of new entries will be low. • It

involves a huge knowledge of the market and resources. • Layman can’t enter into business.

Bargaining Power of Buyers :

• Bargaining power of buyer will be low.

• Differentiated product with special environment.

• Cost of the service will be genuine and convenience will satisfy the customers.

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 • Special space students where they can get peace for studying which is a unique feature.

Bargaining power of Suppliers :

• Furniture will be purchased/rented one time as per need.

• Cookware and Crockery will be easily available.

• There will be one time purchase of electrical appliances which will be cost effective and

sustainfor a long time.

• Basic livelihood items will be easily available such as bed, cupboards, almirah, dressing tables, etc.

Competitive Rivalry :

• Cities such has Lucknow, Delhi, Mumbai have many residence facilities.

• Kanpur is a suitable place for such a concept base Flat On Rent. U (F.O.R.U) and as it is a

new concept therewon’t be many competitors.

• No other residence providers offer such flexibility of stay areas which people canchoose

according to their mood.

Threat of Substitutes :

• There are many substitutes for Flat On Rent. U (F.O.R.U) which provide stay and

living facilities.

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 Organizational Feasibility

Management Prowess

Organizational feasibility is analysed through resource audit and management prowess.

Management process is defined by the passion for the business idea and the knowledge of the

market. These aspects are determined through self-assessment, Resource audit describes required

resources, method and possibility to acquire these resources.

Management prowess is measured by self-assessment. First and foremost, this study is conducted

out of needs. The market has been analyzed thoroughly according to the needs and requirements of

the people for a better experience of living. With the growing social media engagement of people

there has to be public engagement at high level.

Resource Sufficiency

Table summarizes the Flat On Rent. U (F.O.R.U)resource audit. There are four types of resources

in the table. With each resource, a shortened list of requirements is provided, along with method of

acquisition and possibility of acquisition. For some resources, method and possibility are not

applicable, of which is marked “not applicable”

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 Resource Audit of the Flat On Rent. U (F.O.R.U):
Type of Resource List of required Methods of Possibility of
acquisition acquisition
resources

Physical Resources Building Rented Hard

Equipment Furniture Rented/Owned Easy Easy

Rented/Second
hand/Owned
Human Resources Waiter/Servant/ Salary based Easy
Sweeper/Maid/Cleane/
Cook
Reputation Luxurious rooms Rented/owned Moderate
Resources
Know-How Knowledge about the Hired and trained Moderate
Resources types of room services
Individuals

Physical Resource :

A flat/room requires a commercial space with suitable equipment and design. First, the facility provideskitchen,

living room and bathroom. It is important that the facility is permitted to perform commercial activities. The

entrepreneur should consider other options such as a different area or transferred business. Second, equipment

for a flat/room is easy to obtain. The list of required equipmentis simple. Third, the furniture is acquired

through second-hand trades.If it is not feasible to access to good second-hand furniture, there is a option for

buying new furniture

Human resource:

Human resource is the core of the business. Without the people Flat On Rent. U (F.O.R.U)cannot satisfy.

HUMAN RESOURCE EXPENSE:

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 NUMBER OF STAFFS & THEIR SALARIES

STAFFS NO. OF EMPLOYEES SALARY OF

EMPLOYEES
COOK 1(for the customers needing food 8000
services)
MANAGER 1(for the particular area/zone) 20,000
WAITER 5(letting 5 customers seeking 40,000
luxurious stay{eg. flats} for
startup in the particular zone]
CLEANING STAFF 2(for particular area/zone one on 16000
either shift
TOTAL 9 EMPLOYEES 84000

Other Expenses

EXPENSES

MAINTENANCE OF THE PROPERTY TO BE LENT PER ZONE 1,00,000

FURNITURE AND ELECTRICAL APPLIANCES 2,00,000

INTERIOR 1,00,000

STATIONARIES FOR KEEPING RECORDS 10,000

LABOUR COST 50,000

LIECENSE AND PATIENT 2,00,000

SECURITIES TO THE LANDLORDS 5,00,000

FINANCIAL SUPPORT RESERVE FOR 3 MONTHS 3,00,000

TOTAL

14,60,000(+84,000*3
)
TOTAL CAPITAL= 17, 00,000

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 Letting three zones to be setup in the startup, one in city side one in the town area and one in the industrial

area. Each zone will include empty rooms ,empty rooms including washroom and kitchen facilities , room sets

with all the livelihood items , room service for 24 hour stay for part time visitors, and empty flats as well as

flats with all the livelihood items. In the srartup,in cases of flats we will be acting as intermediaries of trust

between the landlords and the occupiers and no adjustments would made there by us there in the terms of

furniture and maintenance, but all the services like cleaning and food would be provided by us if they will

need that. But in the cases of all kind of room services we will be lending them after making all kind of

adjustments

Reputation Resource

As being confirmed earlier Kanpur is the perfect place for setting up a residential service . It isup to

Flat On Rent. U (F.O.R.U)strategy to introduce this product to the market.

Know-how resource:

Nothing can replace the knowledge of the industry that the business is in . As a Startup, there are

difficulties in understanding laws and regulations in Uttapradesh. Especially when the situation is

complicated as described in PESTLE analysis. Hence, the entrepreneurs can get help from

Government scheme websites or hire a gestor to take care of the paper work and bureaucratic process.

Moreover, there should constant need to learn and exchange information of the home planning

industry to keep up with the latest innovations.

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 FINANCIAL FEASIBILITY

Financial Feasibility

Further into the business plan, a thorough financial analysis should be conducted. At the early stageof a

business idea, a board financial analysis is sufficient.

Capital Requirements

A business requires capital to purchase assets, acquire required resources and operate. Capital exists

in many forms such as equipment, office, cash, and inventory. New ventures need to determine how

much capital they need to start and run the business in the first year.

For the initial starting of the Flat On Rent. U (F.O.R.U) the amount of capital that is required to be

invested in is 15-17 lac rupees.

When capital requirements are identified, entrepreneurs need to define the sources of capital. Thereare

many sources for capital, but they can be classified into equity capital and debt capital. Equitycapital

represents owners’ personal investment in the business.For the Flat On Rent. U (F.O.R.U) equity

capital isbeing invested in the form of:

• Family funds worth 5Lac

• Personal Savings worth 3 Lac.

Debt capital refers to the wealth that an entrepreneur borrows. Debts need to be paid back with interest.

For the Flat On Rent. U (F.O.R.U) debt capital being invested is:

• A bank loan worth 5lac rupees which is a personal loan from a non-banking

financial institution.

• A gold loan worth 3-5 lac.

While debt capital allows the entrepreneur to keep ownership, it is considered a liability.

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 Market Feasibility

7 P’s Of Market Feasibility:

Marketing mix is the most useful tool for the management to create the marketing plan and choose

the smart tactics. It has basic 7 components Product, Price, Place, Promotion, Physical evidence,

People and Process. To bring the maximum outcome management should blend all 7ps and

implement on their decision making strategy.

Product

Product can be defined in a resident providing industry “living area” however services can be add

value to it asfood presentation and quality need careful consideration. Management need to make

sure that living quality and facilities will meet the customers’ needs or demands.

Flats

Services
PG Room sets
Provided
By us

Luxury

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 Presentation

Presentation of living area often refers to its cleanliness and its hygienic and eye suiting

atmosphere. It is very important for the team to present the room to the customer which satisfies

the customer to a greater extent. Bathrooms and washrooms are the main places where the

concern is to be given for maintaining the hygienic surrounding for the customers as when we

are supposed to heir the property from their legal owners, most of the places are usually unfit for

a standard living. So everything has to be presented to the customer after making all the proper

adjustments wherever necessary.

Quality of any product is very important issue, quality of the living place is really important in

order to survive and success in the business.

Quality and cost go together, manager always try to deliver high quality service by reducing

cost toincrease our profits. Service also a key element of quality as it is untouchable therefore

therole of the staff become very important in any business. In residence providing firm quality is

a key to maintain repeated customers.

The last attributes of products is variety but not the least as customers always wants more options

to meet their needs. Customers understand that it is not always quality or price but different type

of living areas and variety also attracts them. In old days new products must meet the customers

demand by discovering unsatisfied needs.

Price

It is a controllable and variable element of the marketing mix however it may become a hung challenge

for management due to complexity of the interaction between competitor and customers. Studies shows

that pricing hold a big influence of competition therefore business strategy itself not enough to set a fix

price to generate the target profit. Price need to represent the value of the product and customer

expectation, studies also shows that company marketing objective, pricing objectives, determines of supply

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 and demand can influence the product price. Price is a value of product in the reflection of money which a

customer or end user agreed to payfor their product or service. In flats/rooms when management creates

the rent it contains not only mostimportant strategy as manager need to consider the cost, raw materials,

labour, other expense. Other factors of price strategy involved are staff skills, customer’s behaviours,

The price need to set as per value of the item which customer easily agreed to pay. Customer

may take into the account of service, atmosphere, and quality of the service. If price is too

high itmay put negative impression on the customers, at Flat On Rent. U (F.O.R.U) price are

reasonable as tourists as well as the local people visit.

Promotion

There are three types of promotions strategies which can be adopted by the cafe`s management

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 Advertisement

Word of mouth

Sales Promotion

First element” Word-of mouth” is very important in the term of promotion but reputation also as

studies shows that WOM is nine time better than regular advertisement. WOM can influence

customers in any buying decision, as it is very difficult for customer to measure and judge before

actual purchases. Therefore WOM gave a positive impression and guarantee to the customers.

Branding is a good advertising strategy for the firm, Branding also give identity to the

service, flats/rooms can design their advertising strategy by designing unique logo and themes.

Logos sometime speak itself about the nature of service.

To take advantage of the customers buying behaviors sales promotion can be used, Sales

promotion give a awareness of specific product by reducing the price or giving other incentive

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 e.g. buy one get one free. However sales promotion needs to be planned well to take maximum

competition.

Place

How important is locations for flats/rooms? Studies show that location is the most critical

factor towards success. Choosing the right location is not always easily as it contain many

element e.g. rest image of the area, attraction nearby, customers access, parking and competitor

If anything goes wrong in the marketing plan using marketing mix can be rectify or changeable

but location is not very easy to change. Flat On Rent. U (F.O.R.U) is located in a industrial

place of Kanpur.

Before selecting the place for providing residence servicees, management needs to find out the

positive and negativefactor and how these factors will influence the overall strategies.

Factors needs to consider are:

AREA
RENT COMPETION
POPULATION

CUSTOMER
PARKING
ACESS

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 Physical evidence

It is very important marketing mix factor that will help the residence service to improve their

marketing strategies. Flats/rooms should consider their physical evidence such as decoration,

dining room, living room, washroom, balconies, gardens and overall service escape. Physical

evidence has direct impact on five senses which are sound, sight, scent, taste and touch. Physical

evidence represents the product quality and attraction for the customers. A Flat On Rent. U

(F.O.R.U) has its USP as the unique physical featurethat will satisfy customer all senses. Be it the

garden area, family seating, couple section.

Physical evidence contains some non tangible and tangible substances . However in residence

providing service both need to be done according to customers experience and expectation for

examplein any of the residence all the touches which are native of the place Kanpur should also be

blended and Flat On Rent. U (F.O.R.U) being at industrial location will keep.

People

In residence providing industry people are playing very important role specially property owners

as they are the back bone of the business. Studies show that many residence providers get popular

due to unique qualities of the places. Management need haired skilful people and trained them and

procedure to deliver the best service.

Anyone who is incontact with customer makes impression it could be negative or positive depend

oncustomers satisfaction. If employees are well trained and skilful it not only delivers a good service

but it also improves the service provider’s image, brand and overall quality.

Process

In residence providing process also play important role as serving time, overall operations and

information. There are many type of processes, in residence providing services mainly management

should look at the system which is used to take the needy customer to his required place. Other

example of process is how customer will pay and how to maintain all records and bills in place.
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 DESCRIPTION

Everyone has ideas, hundreds of them, everyday. But there is more to a business idea that just an

idea. First of all, business idea fills a need and creates unique value to the customer. It involves a

product, service or method, which is linked to market demand. Second of all, a successful business

idea has commercial potential. In other words, it must generate money.

Flat on Rent U (F.O.R.U) limited Company’s first outlet starting in Kanpur, Uttarpradesh with

capital of 10 Lakh.

Empty rooms:

This service would be beneficial for the individuals who are willing to occupy the place with their

own belongings and they would be getting only the room/rooms but not other places like kitchen,

terrace, balcony, washrooms, etc. So this would be beneficial for the individuals to use this as a

place for warehouse or for their own commercial purposes.

Empty Room sets:

In Flat On Rent. U (F.O.R.U) this facility would be most satisfying to the individuals having families and

the are local and they are willing to choose another location for the residence by shifting their belongings to

their new location of living. In this service we fill be providing the rooms along with other facilities like

kitchen, washroom, terrace multiple as well as single rooms,

24 hour room facility

This will be most beneficial for the individuals who are visiting Kanpur for a/some days, or the

persons who want their temporary residence. So the guests/visitors visiting here would be charged

according to the facilities they would acquire like meals, AC rooms, luxurious rooms, waiters, etc.

The rooms provided here would be well furnished and ventilated along with sleeping, entertainment

and washroom facility.

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 Room sets with all livelihood items:

The other prominent section of Flat On Rent. U (F.O.R.U) is that the service would also be

provided for the families, students, workers, to get their desired place along with all the stuffs

they need for the flexible living. There are some people who visit to another city without shifting

their all their belongings, this will provide an opportunity to them to live with all the comforts at

any different place for any duration. All the services like cleaning, food, waiter will also be

provided to them.

Flats

This service will be most beneficial for upper middle class and rich class peoples because its cost would be

comparatively high in comparison to the room services. This facility will include empty flats as well as flats

with all the livelihood stuffs. There will be direct handover of property on rent to the customers without the

involvement of the firm in respect of modifications and the adjustments for the maintenance. By keeping the

details of every type of the available flats, we will make the customer to reach the most suitable flat

according to his preferences.

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 STP- Segmentation, Targeting and Positioning

1. Segmentation:

Market Segmentation is a process of dividing a market into distinct groups of buyers with different

needs, characteristics, or behavior that might require separate products or marketing programs is

called Market Segmentation (Kotler and Armstrong, 2006). Initially Flat On Rent. U (F.O.R.U) will

focus as a Socio-Economic segmentation base in consumer Markets as it will have a concentration on

social class particularly the youngsters those who are working at the office and wanted to have a

residence with a good atmosphere and facilities as well as families for getting home like experience.

Flat On Rent U (F.O.R.U) will segment its market by geographic and demographically by selecting the

store location where we can find the students, workers, migrants, and families seeking for a top low a

and medium class residence facility.

2. Targeting:

After a company has defined market segments, it can enter one or many segments of a given market

and should make decision about how many and which customer groups to target . Target Marketing is

a process of evaluating each market segment’s attractiveness and selecting one or more segments to

enter (Kotler and Armstrong, 2006). The concept of target marketing is a logical implication of the

basic philosophy of marketing .A company should target segments in which it can profitably generate

the greatest customer value and sustain it overtime. Flat On Rent. U (F.O.R.U) wanted to develop a

reputable relationship with the customers, Most of companies enter in a new market y serving a single

segment, and if this proves successful than they add more segments, initially Flat On Rent. U

(F.O.R.U) will do the same thing targeted the youth, students, workers and families and it was hit

concept and will have added more segments by including rich individuals seeking a high class

residence and developed its service range.

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 3.Positioning:

Once the company has decided which market segments to enter it should decide what positions it

wants to occupy in those segments. Market Positioning is arranging for a product to occupy clear,

distinctive, and desirable place relative to competing products in the minds of target customers. A

products position is the place that the product occupies relative to competitors in consumers minds.

Here in this case Flat On Rent. U (F.O.R.U) has developed a unique market position for their products

because if the service is to be exactly same like the others on the market than consumers would

have no reason to take it. Flat on Rent U (F.O.R.U) has positioned themselves in the market as a

highly reputed brand. In this case Flat n Rent. U (F.O.R.U) has planned his positioning in such a way

that it distinguish their products from competing brands and give them the greatest strategic advantage

in their target markets. Flat on Rent U (F.O.R.U) has a descriptively simple statement to inspire and

nurture the human spirit-“one person, one cup, and one neighborhood at a time”. Flat on Rent U

(F.O.R.U) positioning strategy will be customer base so that it can give the best service more than

what the customers expect. Flat on Rent U (F.O.R.U) will gain a competitive advantage over customer

satisfaction and employee satisfaction as Flat on Rent. U (F.O.R.U) will develop its positioning

strategy based on the customer and provided the utmost facility in terms of layout, furniture, interiors

and in terms of employee satisfaction. Flat On Rent U (F.O.R.U) will make employee as a partners and

gave them a personal security with a freedom to participate in the every decision of the business and

make it successful.

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 CONCLUSION

This Project report concluded the feasibility study. The study’s objective is to evaluate the viability

of a Flat On Rent. U (F.O.R.U) in Kanpur, Uttar Pradesh. This is an important step before create

a business plan.First, there is a clear structure of the business ides is provided in abstract. Then,

Business importance and relevance are defined.

Second, the project explains related theories such as PESTLE, Porter’s Five Forces, financial and

resources theory, including business idea, business concept, product feasibility, industry and

market feasibility, organizational feasibility and financial feasibility. Third, the theories are

applied effectively into empirical research. Secondary data is utilized to provide in depth analysis

of industry and market, organization as well and financial requirements. Then, primary data is

collected through focus group. The primary data discovers product feasibility and relevant laws

and regulations with the Flat On Rent. U (F.O.R.U).

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 BIBLIOGRAPHY

Ferreira, J., Ferreira, C., & Bos, E. (2021). Spaces of rooms, connection, and community:

Exploring the role of the Flat on Rent U (F.O.R.U) in urban lives. Geoforum, 119, 21-29.

Qian, M. (2014). Flat on Rent U (F.O.R.U), environmental behavior, and design (How

does social behavior and interaction influence Flat on Rent U (F.O.R.U) design?).

Flint, D. J. (2002). Compressing new product success-to-success cycle time: Deep

customer value understanding and idea generation. Industrial marketing management,

31(4), 305-315.

Nadiri, H., & Gunay, G. N. (2013). An empirical study to diagnose the outcomes of

customers’ experiences in trendy Flat on Rent U (F.O.R.U). Journal of Business Economics

and Management, 14(1), 22-53.

Li, H. (2017). A Business Plan for Establishing a Flat on Rent U (F.O.R.U) in kanpur.
Sudiartini, N. W. A., Astari, A. A. E., Kardini, N. L., & Dhani, Y. R. (2020). The

feasibility study of Flat on Rent U (F.O.R.U) house business opportunity in COVID-19

pandemic: . International Research Journal of Management, IT and Social Sciences, 7(5),

38-45.

Pranveer Singh Institute of Technology Page 27