Practical 10 :- Prepare Financial Feasibility Report Of A Chosen Product/Service

Project Name- Melodify

Developers- Lokesh Dhangar

Jitesh Barhate
Saurabh Bagul

Introduction-

Melodify an esteemed platform offering a refined and personalized music experience. Immerse yourself in
curated playlists, discover a wealth of new tracks, and savor the pleasure of enjoying your favorite music
offline. With its sophisticated interface and intelligent features, Melodify redefines the art of listening.
Elevate your daily rhythm with Melodify.

What is Financial Feasibility Report-

A financial feasibility report is a crucial assessment that helps determine the viability and profitability of a
proposed project, investment, or venture. By analyzing costs, revenue potential, and overall financial
performance, this report informs informed business decisions that can maximize returns and increase
profitability.

1. Lines Of Code (LOC)-

Files No. Of
Lines
Xml files 4000
Java files 3000
Other(gradle) 800
2. Cost Of the Project- The Bigger the Project, the Higher the Value -
The Cost Of Android application Ranges From Rs.7000 to Rs.5,00,00,000 in India. Melodify is the
Application contains the data of user such as their name their profile photo , their music library etc.

Website Cost is based on type-

Type Of Application Cost To Time (Days)

Develop

Entertainment Rs.2500 2 months

3. How Much Does the Website Development Cost-

Summary of cost of the website-

Price Factor Cost
UI Design Rs.2000
Updates Rs.1000
Marketing Rs.2000
Uploading to play Rs.2000
store
 4.
Cost Based on Team Size-

Our Application Melodify team is the In-house type of team. The cost of a website depends on the team’s
size and each new employee hired. Hiring an in-house team can be costly because you employ a group of
people.

The average cost of hiring an in-house team can be around Rs.6,00,000 per year to maintain your
team’ssalary, taxes, accounting costs, the office, and its maintenance.

5. Market Assessment-

The market assessment, or market feasibility study, is a chance to identify the demand in the market.
This study offers a sense of expected revenue for the project, and any potential market risks you could
run into. The market assessment, more than any other part of the feasibility study, is a chance to evaluate
whether ornot there’s an opportunity in the market.
.

6. Cost Drivers-

Cost Drivers are specific for projects. Here Melodify includes:

1) Development Tools and Licenses: Costs for software licenses, development environments, and
APIs.
2) Data Acquisition: Costs related to obtaining data (e.g., APIs, subscriptions).-

Melodify includes the APIs and for that on Subscriptions is required after completing the 3 months
freetrial.

3) Testing and Quality Assurance: Expenses for testing tools.

Testing requires the testing tools which provides services after purchasing their subscription.

7. Total Cost Estimation of Project (Melodify)-

Total Cost of Melodify = Rs.8000 including development, maintenance, marketing and testing of
Application.

8. Conclusion

In conclusion, Melodify demonstrates strong financial feasibility in the competitive music app market. With
diverse revenue streams like subscriptions and in-app purchases, its unique features position it well for
revenue growth. Continuous market monitoring and effective marketing will be key for long-term success in
the dynamic music app industry