IDEA 005

Considering we are all engineers , mostly with prior work experience ,
I feel we must utilize our core competency , which is our engineering minds and experience .

The plan is to start an Engineering Consulting Company .
This company will let out its resources to engineering and non engineering firms ,
to conduct surveys , studies etc , on or off the facilities of the client .

Once the company tells us its requirements , we will devise the survey / study for the issue ,with the required focus and at the desired depth .
We shall execute the project at our convenience , unless its an express requirement , for which we can charge a premium .

Advantages :

1. Being NITIE students , we have relatively easy access to a lot of engineering and FMCG firms eg L&T , and P&G , since the management is heavy with NITIE graduates . So getting projects should not be a major hurdle , assuming availability of projects .

2. The projects them selves will not be excessively time intensive , so other areas (like academics) that require our attention will not suffer .

3. Initial Capital investment required is nearly zero .

4 . Running costs are nearly zero .

5. So it means almost immediate profitability

6. Lots of Prospective clients in the surrounding area . (L&T , SEEPZ , UHDE etc)


Disadvantages :

1. No guarantee of available projects .(but that's a limitation of almost any plan)

Unique selling Proposition :

We will be offering them services at a fraction of market cost , assuming such companies do exist .

Sustainability :

Depending on the success at the end of two years , we can involve future NITIE batches
and continue the good work .

Awaiting your feedback .