problem-
our product is a voice over pen which helps physically challenged people as they face difficulties in writing by themselves. so this pen has its independent application in which we have to speak and the pen has a mechenism by which it can be written on the page whatsoever is spoken by the person.
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target customers-
our target customers are schools, colleges, ngo's, old age homes. can be used by physically challenged person for writing operation. The main aim of developing the proposed system is to facilitate the physically challenged persons towrite what they speak. Presently, the physically challenged persons need a scribe/paper writer during exams to write their examinations. It is very hectic work to find out the writer. The proposed system will proved helpful to physically challenged people in such situations.
innovative product solution -
the voice over pen which is made by us solves the problem of physically challenged people, people who have problem in writing. as our pen has its independent application for android or ios users in which we have to speak and the speech is recognized by the pen as its has various mechenism through which the text is written down on the paper.
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demo video-
business plan -
Q.1 What Problem are you solving?
The problem of disabled/ physically handicapped people being not able to handwrite assignments, board examinations, fill up forms and basically be dependent on a writer to write what they speak. This product will aid the differently abled people to communicate their flow of thoughts in a smooth manner independently.
Q.2 What is your innovative idea? What makes it unique?
Our product is a voice over pen, it writes what we speak. We can dictate the information through an android mobile application it recognises our voice converts into into digital text and then sends the signal to the machine it incorporates the digital text and the pen receives the signal and begins writing.
Q.3 Who is your largest audience?
Our largest audience is the schools and universities which intend to aid the disabled students into finishing handwritten assignments and give written examinations without the need of writers.
Q.4 Who are your direct/indirect competition?
We dont have any direct competition but there does exist a similar machine without the feature of voice recognition.
Q.5 How will you reach your target audience? What would be your marketing activities?
We would approach universities and schools with a representative reaching out to them promoting our idea, we would also approach NGO’s and enquire about the requirements of this product they could get us as the supplier and reach out to schools and promote the product.
Q.6 a.) At what price will you be selling the product?
b.) How did you arrive at this cost?
c.) What will be your margin of profits?
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We would be selling the product at Rs 4,999/-
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We calculated the cost of making the product which was Rs. 3,250 and added our profit margin of Rs 1,749 and came up with the price in and under 5,000
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Our profit margin is Rs. 850 on the sale of 1 unit as 900 Rs we have to pay to our coders and computer engineers and we reach our breakeven point after the sale of 7 units and our profit practically doubles since we have covered the cost of making the application and forming the software of arduino.
Q.7 How many units will you produce & expect to sale in year 1,2 and 3? Have you done any demand analysis?
Even if a school chooses to buy 5-6 units in the beginning after selling an additional unit we would have been able to recover our cost and would be onto making a living. In the initial year we target on selling this product to 5 schools as convincing schools and universities is a difficult job from satisfactory performance we could have the customers promote our product and amp up the sales to 10 schools in the next year also subsequently increasing in the upcoming years.
Q.8 If you have to start this business, how much fund you will require? Please show the cash flow projections?
We require the initial raw material cost of rs.3,000 for a single unit which if we calculate of 10 units goes up to 30,000 and considering discounts and savings of 10% we keep it at 27,000.
Q.9 Please explain your human resource requirements?
We require a member with the ultimate experience of the difficulty faced and would have someone empathise and add a personality to our machine.
Q.10 What are the other resources will you need in order to run this business?
We would require a complete knowledge of coding and software running also we shall be in terms with the the structure of functioning we shall require accounting, initialm start up capital an area to function and produce such units also require electrical tools for a smooth functioning also management cost.