ESTABLISHING A COMPUTER AND PRINTING SERVICES SHOP IN MUSCAT
ESTABLISHING A COMPUTER AND PRINTING SERVICES SHOP IN MUSCAT Introduction The proposed project will centre on setting up computer and printing services in the Muscat. This approach will be founded on the growing economy of our country, the rapid implementation of digital services, and market expansion because of technological advances. The project start-up capital will be OMR 200,000/-. An option being proposed here is that its target markets would be individuals and companies, providing an array of computer products, peripherals and printing solutions. This research proposes to measure the market size, financial sustainability, technological requirements, organizational setup, and risk management approaches suited for this firm initiative (Kareem & Saud, 2020). Despite the high economic growth rate, contributed by government-imposed steps to diversify the economy and support entrepreneurship and creativity, Oman sees a boom in economic performance. With the growing spread of digital developments both within the industry and among people, printing services, computer accessories, and all other computer-friend products become increasingly sought after. This feasibility study aims to determine whether it would be possible to open a computer shop in Oman that also provides printing services and IT solutions services to meet the requirements of both individual customers and commercial enterprises. The project presented has the goal of accomplishing the following objectives. 1. To assess the feasibility of establishing a computer and printing services shop in Oman, this study will explore various business aspects. 2. To ascertain the proposed firm’s marketing, financial, technological, organizational, and risk management aspects . 3. Synthesizing the findings is necessary to establish whether the planned project is feasible in its entirety. “Speed Computer and Printing Services Shop” will be the name of the proposed project. Choosing this name was done to convey an immediate message that the planned organization will quickly meet its target clients’ requirements. Market Feasibility Numerous factors, including rising consumer spending, urbanization, and technology improvements, are contributing to the tremendous rise that the retail market in Oman is experiencing. The following are some of the primary causes boosting demand for computer products and printing services: the growing digitalization. Oman’s population is becoming increasingly dependent on digital devices for communication, entertainment, and productivity, boosting demand for PCs, laptops, and peripherals. The education sector is experiencing a growing demand for printing services and computers among students, educational institutions, and training centres. This need is a direct result of the sector’s emphasis on education and the development of capabilities (Oranni, 2020). In addition, small Businesses and Offices: Computers are necessary for the day-to-day operations of businesses, and printing services are indispensable for producing marketing materials, documentation, and presentations within these businesses. Given the above, the proposed project would target a certain audience, such as students, working employees, professionals, and others who may need computer and printing services. Oman Information and Communication Technology (ICT) is expected to grow at the compounded annual growth rate (CAGR) of 8% during the next five years. This growth majorly sprouts from the massive investment in digital infrastructure, which the Government has invested in, and the increase in e-commerce activities. On the other hand, in the 2023 survey by the Muscat Chamber of Commerce, 60% of the local companies mentioned that their strategy for the future includes more significant investment in technology solutions, signalling the high requirements for IT products and services. Such an ambience offers a hub for the “Speed Computer and Printing Services Shop” and the region to venture out of, leading to the accommodation of this expanding market. As the proposed project will be put up near the busy streets in Al Kuwait, the place is found to be strategic since schools, colleges, hotels, and other private companies surround it. These people have the potential to be the customers of the proposed project. The services to be offered by the proposed project are as follows: • Computer diagnostic: A diagnostic service is needed when a user cannot identify the system’s issue. Hardware or software issues can be fixed by a professional on-site or at a service centre. • Computer tune-up: Electronic portions of the computer need modification. Cleaning the primary fan, CPU drain, and other components prevents computer issues. Computer service offices also tune-up software. Properly configured computers use less power, memory, and processing. • Networking computers with or without wires depends on the business’s demands and preferred method. Efficient networking increases business productivity. • Professional assistance is provided for the one-time setup. Data backup might be physical or cloud-based. • Printing documents, papers, and other printing services. • IT support: Providing IT support to companies upon request. Financial Feasibility It is vital to conduct a thorough financial analysis to establish whether the planned venture is financially feasible and whether or not it has the potential to be profitable (Kerr, 2020). The company will need funding to lease retail space, purchase merchandise, equipment, and software, and cover marketing expenses. Also included in this category is the initial investment. These are the projected revenues. The sales expectations for devices such as PCs, laptops, printers, printing services, and accessories will be the foundation for the revenue forecasts. When making revenue predictions, we will consider the pricing strategy, the market demand, and the competition. In order to establish whether or not the business is profitable, an expenditure analysis will be performed. This analysis will estimate operating expenses such as rent, utilities, payroll, inventory management, marketing, and maintenance. Capital Allocation Description Equipment and Furniture Cost of goods Rent Salaries and benefits Admin Cost Maintenance and repairs Utilities Advertising Other Total Capital Cost Estimation (OMR) 20,000 98,200 14,400 36,000 10,000 3,000 2,400 10,000 6,000 200,000 Allocation % 10% 49% 7% 18% 5% 2% 1% 5% 3% 100% As per the above table, shows the capital allocation. The highest investment of 49% in this project is the cost of goods, estimated cost is OMR 98,200/-.Equipment’s and furniture’s needed in the store cost OMR 118,200/-. Overall other expenses (Rent, Labour, payroll, etc.) cost of the project per year comes to OMR 81,800/-. Balance Sheet Monthly (OMR) Capital Cash Expenses Equipment and Furniture Cost of goods Rent Salaries and benefits Admin Cost Maintenance and repairs Utilities Advertising Other Total Expenses Yearly (OMR) – 200,000 1,200 3,000 200 – 20,000 98,200 14,400 36,000 10,000 3,000 2,400 10,000 6,000 200,000 Income Statement Monthly (OMR) Revenue Sales revenue In-house Service revenue Service Contracts revenue Total Revenues Expenses Equipment and Furniture Cost of goods Rent Salaries and benefits Admin Cost Maintenance and repairs Utilities Advertising Other Total Expenses Yearly (OMR) – 137,480 24,550 68,740 230,770 – 20,000 98,200 14,400 36,000 10,000 3,000 2,400 10,000 6,000 200,000 1,200 3,000 200 – Net Income 30,770 Break-even Point Break-even analysis Fixed cost Variable cost per unit Selling price per unit Break-even sales quantity Break-even sales value Amount (OMR) 191,000 9,000 599 164 98,200 The fixed costs are none changed costs, such as rent, utilities, etc. Variable costs per unit, are the costs that change and vary depending on the demand of the product and services. Selling price per unit, it is the price at the product or service sold. The break-even point, divide the fixed cost by (Selling Price per unit-Variable cost per unit). Contribution Margin per unit= (Selling Price per unit-Variable cost per unit). Break Even-Point= Fixed cost divided by the contribution margin per unit. Technical/Operational Feasibility This technical feasibility analysis determines if project development resources and technology are available. It also assesses technical team skills and capabilities, whether existing and chosen technology can be used and straightforward to maintain and upgrade. It is necessary to have sufficient infrastructure, equipment, and technical experience to establish a computer store offering printing services. One of the most critical factors in determining the success of a business is the selection of a retail space that is strategically located, has a high foot traffic, is visible, and is easily accessible. Inventory management” refers to keeping a varied inventory of computers, laptops, printers, ink cartridges, paper, and other peripherals to meet the requirements of various customer segments (Kareem, 2020). Also, as to the printing equipment, investing in high-quality printing equipment, which includes printers, scanners, copiers, and software related to printing, provides a wide variety of printing services, including document printing, photocopying, scanning, and binding. Regarding the technical aspect of hardware, we are opting for the most reputable and reliable market players in the area, such as HP and Dell, renowned for their post-sale support. The equipment we will purchase for printing services is a multi-cartridge printer from the leading brands – Canon and Epson. They are recognized for their reliability and versatility. The features they provide include the capacity for high-volume printing as well as precision colour control. These printers translate standard and complex jobs by ensuring they are of the requested quality (Timothy & Mark, 2022). Consequently, maintain the stock of ink cartridges based on the popular models to allow various options, and we will provide our customers with high-quality paper supplies to ensure top-level outcomes. We intend to offer a limited range of industry leaders and equipment toughness, which helps the clients trust the quality and reliability of our services with simplicity of both maintenance and upgrades while upgrading us to operating excellence. Organizational Structure A well-defined organizational structure is critical to effective decision-making, customer service, and operations leadership group (Timothy, 2022). Seasoned experts with experience in business development, technology, and retail management will run the company. Hiring sales representatives and customer service staff to help clients with product queries, purchases, and postpurchase assistance is an excellent way to start. The job requirements and responsibilities are shown below. Owner/manager: The owner/manager should have experience managing a store and good analytical and decision-making skills. Being the manager, he oversees all the work of his staff. He also leads the team to work better and operate the shop. The manager also has significant responsibilities regarding strategic operations. Storekeeper: The storekeeper can be any citizen who can speak English and Arabic. He can be a high school graduate, but preferably with a good background in computing. He and the owner will be in charge of the stores. The storekeeper also maintains the orderliness and cleanliness of the store and ensures that customer calls and queries are answered on a timely basis. IT staff: The IT staff should be of any nationality and must have an IT background, preferably with experience in the industry. They must also have at least a certification in computer or software. The major role of the IT staff is to troubleshoot customer issues and technical glitches that may arise in the store’s operation. Driver: The driver can be of any nationality and speak basic English and Arabic. He will deliver items, bring the staff to the workplace, and give the manager/staff a lift when purchasing the materials and equipment. Organizational Structure Owner/ manager Store keeper IT staff Driver Risk Management In order to secure the long-term profitability and sustainability of the firm, it is vital to identify potential risks and establish mitigation strategies for those risks (Railey, 2020). The following are the risk management plans of the opposed business. First, they are based on the competition in the market. In order to compete with well-established stores and online marketplaces, it is necessary to differentiate oneself through product quality, pricing, and customer service. Second. On the aspect of the supply chain. The possibility of interruptions in the supply chain, such as delays in inventory shipments or shortages, may affect the availability of products and the level of pleasure experienced by individual customers. The rapid growth of technology may result in the obsolescence of items and necessitate the constant updating of equipment, software, and technical skills (Dahlia, 2019). Changes in technology are referred to as technological changes. Third, fluctuations in the economy, changes in consumer spending patterns, and changes in regulatory policies are all examples of economic factors that have the potential to influence the purchasing power of consumers and the profitability of businesses. Fourth, security concerns. It is of the utmost importance to safeguard client information, financial transactions, and corporate operations against breaches in data security, theft, and other forms of cybercrime. This company would strive hard to capture the market, offering unique services, such as on-site repairs and same-day service, and marketing to make customers realize the quality and speed of their services (Railey & Nemmil, 2020). To minimize the risks on the supply side, we intend to contract with different suppliers and have enough strategic stock of the essential items to guard against delays or difficulties in delivery. There are digital updates that run at high speed; given this, we plan to run frequent updates to our services; in addition, we shall continually carry out staff training to keep them ahead of the industry trends. Conclusions Establishing a reputable business is more challenging and takes more than advertising and collecting money from customers. The process of legally beginning a business, collecting and paying taxes, obtaining insurance and any permits, licensing, or certification needs, and becoming an employer are all things that need to be familiar with in order to create a business that has the potential to be successful and grow. The complete analysis presented in this feasibility study indicates an excellent possibility for success in establishing a computer shop in Muscat that also provides printing services. There is an increasing demand for technological products and printing services, which, combined with strategic market positioning, efficient marketing methods, and sound financial planning, positions the proposed company to be profitable and experience growth. The company has the potential to capitalize on opportunities in Oman’s retail sector and establish itself as a primary provider of computer products and printing services if it takes the necessary steps to address technical requirements, organizational structure, and risk management techniques. Therefore, it can be concluded that the “Speed Computer and Printing Services Shop” is feasible and viable insofar as the marketing, financial, technical, and organizational aspects are concerned. References Dhalia, Kerryl (2019) Organization and Management. Kelly Printing Press and Digitals Manhattan, USA Kareem, Saud (2020) Business Organization: Practices and Strategies. Otton Publishing, LLC. Dubai, UAE Kerry, Michael (2020) Innovation Strategies. Kelly Printing Press and Digitals. Kuwait City Orange, Henry (2020) Management and Organization: Strategies and Practices. Moonlight Bookstore, New Jersey, USA Railey, Nemmil (2020) Management and Organization: Strategies and Practices. Moonlight Bookstore, New Jersey, USA Timothy, Mark (2022) The Business Environment and Organizational Practices. Herseyll Bookstore, New Jersey, USA Websites Digital transformation in Oman: Business growth and Innovation – GO-Globe,’ GO-Globe. Available at: https://go-globe.com/digital-transformation-in-oman/ [Accessed: 19 April, 2024] 5. financial feasibility. Available at: https://www.slideshare.net/RudyFlores1/5-financialfeasibility/ . [Accessed: 19 April, 2024] How to Start a Computer Business: Available at: https://www.wikihow.com/Start-a-ComputerBusiness. [Accessed: 19 April, 2024] Computer repair Business marketing,’ Available at: https://leafletdistributionteam.co.uk/blog/computer-repair-business/. [Accessed: 19 April, 2024] Using Feasibility Studies in Project Management. https://asana.com/resources/feasibility-study/ [Accessed: 19 April, 2024] Available at:
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