Feasibility study of an electrical and lighting project with costs and the best publicity for the project –
Feasibility study for an electrical and lighting project. Electrical tools are one of the basics of any existing place, whether it is a house, shop, institution, etc., so embarking on the implementation of this project is very profitable, due to the large consumption rate on it, and despite that, it needs a comprehensive study of all its requirements and elements if it continues to be established. As long as possible, specialized experts can be used if the matter fails to be achieved, and in this article we present a feasibility study for an electrical and lighting project.
Feasibility study for an electrical and lighting project
The importance of the feasibility study lies in giving scientific and studied evidence of the success or failure of investment projects, where the investor chooses the appropriate project from among the many projects available to him, and chooses the most profitable and the least risky and prone to failure, and when studying the feasibility of an electrical and lighting project, factors are taken into account following:
Initial feasibility of projects
- Including order volume and production.
- The investments required for the project.
- With defining the objectives on the basis of which the initial acceptance of the projects is carried out and the approval of the completion of the final studies.
Detailed feasibility of projects.
- It includes a marketing feasibility study.
- Technical or productivity feasibility study.
- Also a financial feasibility study.
- Study the organizational, administrative and legal feasibility.
- Also a social feasibility study.
See also: Feasibility study of the honey bee breeding project and the most important raw materials, requirements and products
Choosing a location for the electrical and lighting project
The decision to choose the location is often based on the type of work. In the event that the project is related to economic establishments, especially retail or service, the strategy is based on maximizing revenues and the percentage of sales. The following is an explanation for choosing a location for an electrical and lighting project:
- You should pay attention to Annaba when choosing the location in which you will establish the project, which is preferably in high-density residential areas or in places that are still under construction and need these tools in a large proportion.
- It should also choose a medium-sized store, not a large one.
- After completing the identification and selection of the appropriate place, all papers and permits must be completed so that you can open the shop without any obstacles.
See also: Feasibility study of the shrimp farming project at home with costs and success factors
Supplying electrical and lighting project
In the preparation stage, consideration should be given to minimizing costs as much as possible until stability and stability in the proportion of revenues and sales, in order to avoid many risks. We explain the simplified picture of preparing an electrical and lighting project as follows:
- The electrical appliances store must be equipped, and therefore it is necessary to install wooden shelves, while providing the place with the necessary tools and lighting, so that the products appear in front of customers with clarity and transparency.
- Likewise, all sales details must be recorded, and therefore a notebook must be purchased in order to write the incoming goods, the sold goods, and all matters related to the shop, along with an invoice book that gives invoices for the sold goods to customers.
- Also bring a small desk and at least two chairs.
- It is possible to seek the help of a decorator when designing the store to facilitate the display of products in an appropriate manner, so that designated places are placed for the displayed products.
See also: How much does a fresh juice shop cost in 2023, along with the factors and requirements for the success of the project
purchase of goods Electrical and lighting project
When purchasing goods, it is necessary to buy from reliable and high-quality stores, away from places that sell poor products and may not help in the success of the project and thus a catastrophic failure. Through the following methods, we explain how to buy goods for an electrical and lighting project:
- The goods can be obtained from the importer himself and can be obtained at the cheapest prices.
- Well get it from a wholesaler.
- Perhaps asking one of the workers in the field about the best places to sell electrical tools.
- It is a good idea to search on specialized sites for selling electrical tools on the Internet.
How much does it cost Electrical and lighting project
Site Electrical and lighting tools It is not an expensive project, as it is limited to the presence of a place for rent in a vital place and is characterized by residential projects, in addition to the availability of goods, which cost about 30,000 pounds to establish a fully equipped store of goods.
The needs of an electrical and lighting store for merchandise
It is important that your estimates be realistic, and that you study them carefully, so that your project is not one of the 81% of new projects that fail due to financial problems, according to the estimates of specialists and economic analysts. As for the needs of an electrical and lighting store for goods, we explain them as follows:
- screws and flashers.
- Electricity staples.
- power cables
- Electricity subscribers.
- the fish.
- lighting units.
- shower cables.
- Electricity hoses.
- Electric screwdrivers.
- welding tapes.
- Electricity switches
The needs of an electrical and lighting store for workers
The electrical equipment store may not require the presence of labor. It is possible to manage the project yourself if you are free to do so, which is better because you will be the person who maintains and develops the place the most and reduces the percentage of costs, especially labor wages and daily expenses that they need, while in the case of not working in the shop you have to Hire one of the employees who must have experience in this field.
Advertising and marketing of electrical and lighting projects
The project’s strategy for marketing and sales must be clarified, in which you will determine how you plan to sell your products or services. Before working on the marketing and sales plan, you should study the market analysis and identify potential customers. We explain below the advertising and marketing plan for the electrical and lighting project
- It is possible to make paper advertisements and distribute them to the areas in which the project is located.
- He also made a large and luminous sign on the shop.
- Also, communicate with the area’s technicians and contractors and offer to provide them with the goods at a wholesale price.
- It’s a good idea to make offers every once in a while for consumers.
- In addition to marketing your products online through social networking sites and various groups, because it is one of the best ways to market in this period.
Success factors for the electrical and lighting project
Having the necessary expertise to launch products with each activity, even if it is simple with its designs and services in order to meet the needs of the consumer, is an important factor for the success of the project. There are also many factors that confirm the success of the electrical and lighting project, which we explain as follows:
- Study the shop name carefully to get a leading brand, and be eye catching.
- With the need for the name to be commensurate with the nature of the shop’s work, due to the importance of the name in attracting the largest number of customers to your shop.
- Research regularly and regularly about the market situation, product prices and competitors, and be curious to get a good experience
- You must keep track of your profits, which are produced on a monthly basis.
- Selling at a wholesale price and less than the price of competitors from other stores for electrical appliances, which draws the attention of customers to you and your shop, taking into account that it does not harm the project and cause losses.
- Focus on the quality of the goods and products that you sell and the extent of their credibility from which you purchase your products.
- Studying the feasibility of the project with all its aspects and requirements, and working on implementing it to the fullest.
Feasibility study of an electrical and lighting project. A successful project undoubtedly requires long patience and the ability to continuity, while accepting all circumstances that may hinder the project and change its course. Therefore, it is preferable that the project plan be flexible so as not to be affected by a large percentage.