STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

Introduction about the Project

Saudi Arabia is a growing country that has a strong economy and because of that the government is spending a lot of money on the public sectors thus the private sector will also grow.
Due to this growth, there are a lot of projects that need elevators which are around 4000 units in 2014 with growth rate of 1.72% at the end of 2019; In beside that the installed elevators in Saudi Arabia which are more than 500000 units.
Nowadays, the government is applying in Makkah a new rule that all elevators should be tested before releasing it to the normal use which must be tested every year for new and installed elevators to ensure that the elevators are safe for normal use.

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

These rules will be applied for all areas in Saudi Arabia which will make big demand on the elevators inspection companies to accommodate this number of units every year.
By making this project I will improve my knowledge in financial decision making and calculations, legalizations, marketing, new venture creation and scenario planning for the project.

Hypotheses:

1.    The elevators market will keep growing annually.
2.    Implement inspection rules in 2018.
3.    Make international inspection company to be their representative in Saudi Arabia and make partnership with them.

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

Methodology:

The method which will be used is a quantitative method therefore, the first part of my thesis will have introduction of the elevators business market, a market study will be done and number of elevators in Saudi by implementing the literature methods of market study.
Study the legalization process and making interviews with the civil defense department and the Saudi,
Standards, Metrology and Quality Organization.
Using theoretical methods of investment to calculate the profitability of the project and the future growth plan as well as making marketing strategy and plan.
Making survey about elevator safety and users view about the elevator, if they will feel comfortable if the see the inspection sticker inside the elevator then interpret them to have rational data that help me in my project.
Finally, calculating the break-even point and the working capital for this project in order to have sustainable project.

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

Proposed outline:

1.    Introduction
2.    Theoretical ways for market study and its implementation
3.    Legalization
a.    Civil defense
b.    Saudi Standards, metrology and quality organization
c.    Chamber of commerce
4.    Investment study and decision making
a.     Investment criteria literature
b.    Calculating costs, income and profitability
c.    Stress testing the investment
5.    Scenario planning for decision taking
a.    Scenarios implementation
b.    SWOT analysis
c.    Decision taking
6.    Marketing strategy and implementation
a.    Marketing strategy
b.    Methods of marketing
c.    Sustainability and growth plan
7.    Conclusions
8.    References / Bibliography

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

Data Sources:

1-    Financials management books
2-    New venture creation books
3-    Scenario planning books
4-    Marketing books
5-    Interviews
6-    Surveys

Challenges:

1-    Data collection
2-    Actual market size

Reflection:

By this project I will apply financial, new venture creation, marketing and scenario planning literature and their implementation in the project that will increase my knowledge in these topics which will be useful for me to start this business in near future.

STARTUP A NEW LIFTING EQUIPMENT INSPECTION COMPANY IN SAUDI ARABIA

Order 100% Plagiarism free essay now

By admin in Essays on July 27, 2017