Final Project

By Group – 10
Group Members :
Jasmeen Kaur
Jobanpreet Singh
Davinderpal Aujla
Gurneet Singh
Pragun Thakur
 ABOUT VELOCIPEDE INC.

Our company, Velocipede Inc., was established in the year 2015. The work
of the company is to manufactures and sell bicycles in the market. In the
first three years, our company earned great name and fame in the market
but from the last two years, it is experiencing losses. There are many
employees working in the company, who realize this loss. To overcome this
problem, our company is planning to start a new business of bicycle
renting. By the VP–sales, I am ordered to prepare a presentation to the
entire senior management in the company to collect advice if it is a good
idea to start bicycle renting business.
 NEEDS AND PROBLEMS

In this modern era, doing a business to sell bicycle is very difficult because people have
lost their interest in bicycles and they give their preference to other vehicles. That is why
the sale of bicycles is decreasing day by day. Moreover, due to busy schedule, people
thought that other vehicles are time consuming and they invest their money on cars,
motorcycles etc. instead of bicycles. Also, children like electronic toy cars more than
cycles. In past, people also use it as a exercise, but nowadays people don’t have any time
for this. The another possible reason May be the price of the bicycle. Therefore, this
huge difference occurs between the sale rate in the past five years.

Hence, the major problem is declining interest of people to buy a bicycle. There is a need
to make a proper plan to secure company.
 GOALS AND OBJECTIVES

To start any new business, firstly, we have to set goals. Our goals are to make our VP
company successful.

Firstly, we have to find a location where we should set-up our firm, like those tourism
places where people can enjoy cycle ride and rent system is good for that time because
they can enjoy cycle ride very costly and does not need to buy it.

Secondly, we should work on the manufacture system of bicycle, we can make it more
attractive so that more and more people attract towards bicycle.

Nextly, we should arrange some seminars to tell the people about the advantages of
using a cycle on our environment and health.
Moreover, we have to set a reasonable price for renting a bicycle and hire some
employees so that people feel satisfy with our services.
 SCOPE OF WORK

According to our objectives, we will install our organization on tourism places so

that more and more visitors will come to our shop and take a cycle on rent and
we get a reasonable payment. We need more employees to start this renting
business because we have to look that if every person return the bicycle on time
or not and also is it in good situation or not? We need to spend some time on
training of our employees also so that we will not face any problems and loss in
future. Moreover, we will make our vehicle more and more attractive so that
each and every person wants to take it. We will also tell people about the benefits
of using a cycle instead of motorcars etc. We will also give some discounts on
special occasions. We will also provide safe delivery system.
 SUMMARY OF FINDINGS

The major problem is choosing correct location because if we choose wrong

location where people do not need cycles, so it become very difficult to run
business there.

Second problem is with staff members, if we do not have enough number of

employees then it will effect the security of the cycle badly because it become
very difficult to know about the returning bikes and also about their situation.

Nextly, it was found that people do not buy bicycles due to high prices and
absence of return policy.
 SUMMARY OF RECOMMENDATION

Firstly, I will recommend a visitors place to start renting business because there
people give more preference to buy bicycle to enjoy their trip.

Secondly, we will rent the bicycles on appropriate price and also give some
discounts some times.

Moreover, we will increase the number of employees in the firm for the security of
the cycles so that nobody damage and steal cycle. Also, it helps to satisfy our
customers.
Nextly, we will improve our manufacturing process, as we will add attractive
features in the cycles and decorate it.
 TIME TABLE
ACTIVITY IMPLEMENTATION TIME RESPONSIBILITY
1. Design and implement training Month 1 Month 2 Month 3  
program for 24 hours  24 hours  24 hours Program
project management Manager (PM)

1.1. Conduct needs assessment   5 hours   Consultant

1.2. Design training modules     4 days Consultant
1.3. Conduct training     4 days Consultant
2. Improve procedure for 2-3 days 2 days XXXXXX Program
project management
Manager
2.1. Conduct management audit of   10 days   Consultant
current
procedures
 BUDGET
 
Description of Start and End
Work Dates
Phase One  Raw Material ($10,000)  Start – 21-08-2021
End – 10-09-2021

Phase Two  Manufacturing Work($10,000)  Start – 12-09-2021

End – 30-09-2021

Phase Three  Delivery($5000)  Start – 01-10-2021

End – 15-10-2021

  Total $ 25,000
 REFERENCES

● www.youtube.com
● www.google.com
 APPENDIX

Our company has made many efforts to run business successfully. But with
the passage of time we realize that there is no problem with our cycles and the
decline in sale is due to lost interest of people and also the high prices of the
bicycles. Therefore, our company decides to give bicycles on rent instead of
selling cycles. Possible steps are taken to overcome this problem like find a
suitable location, appropriate prices, aware people about thew advantages of
using cycles. By changing our company’s work from selling into renting may
be good decision to run business successfully.