ENTREPRENUERSHIP

BUSINESS PLAN:
U.A.E College of Technology,
Kot Radha Kishan

Submitted to:
Mr. Fahmeed Idrees

Prepared by:
Zaid Qadir
(BCE-SP06-028)

Iftikhar Raza Faisl

(BCE-SP06-009)

12/28/09
 The Business Profile

Description of My Business
We plan to start a technical college in our native city. Our vision is to provide
knowledge of technical and vocational education to the people of our city for their
well being. We want to prosper my city with the wealth of knowledge. There is no
any college which provides them quality education to build technical and
vocational skills. We are the first who is starting a technical college in our city.
Here there will be taught the following technical and vocational courses, these
are as follows;

Course outline:
1. DAE of electrical technology
2. DAE of civil technology
3. DAE of mechanical technology
4. Other Short courses

The short courses include:

1. Diploma of auto cad
2. Diploma of Office Management
3. Diploma of computer Drafting
4. and many others

Sources of earning:
Earning sources are the fees collected from the students of diplomas and short
courses. To raise the earnings we shall try to start evening classes if it could be
possible.

Collaboration/Registration:

College will be registered from the Punjab Board of Technical Education

(P.B.T.E), Lahore. Without collaboration to PBTE any technical college can not
offer it’s services to the people, so shall make sure the registration of college.

Mission Statement:
Where people live and work, U.A.E College of Technology will contribute to the
vitality of the communication and strength of the economy through innovative
education programs and services which equip people for successful living,
lifelong learning and work in global knowledge based economy.

Background:

We are a technical academy in Kot Radha Kishan since 2002 with a great
success. So starting a college will be just like a process of up gradation. We have
a very good impression and image so we do not need for publicizing it that much.
We have a great number of ex-students and many friends around the city and in
the villages near the city, who will help us a lot to get students and they will also
promote our plan.

Targeted Market and Clients:

Our target clients / students will be obviously the people of our own city as well
as the students of villages around the city. There is no such institutions that
provide them quality technical education in this city so they will prefer to take
admission in our college because there are a lot of benefits attached. These
benefits are;

1. Quality education
2. Highly qualified teaching faculty
3. Practical labs with complete equipment
4. Very reasonable and affordable fees.
5. transport facility at low and concessional rates for students
6. And many more advantages

VALUES:

✔ Excellence;
✔ Learner-centered;
✔ Accountability;
✔ Concern for people;
✔ Integrity;
✔ Respect for diversity; and,
✔ Teamwork and true

Growth Trends in This Business:

This is very highly profitable business. There is a trend of expansion in the
college business because there are no such institutions that provide these
benefits in a single basket. We have potential to expand the business with our
own recourses. There are bright chances in the long run to grow and expand.
Profitability is sure in the long run but in the short run there is a need of fund and
it obvious deficiency in initial years.

Determining the fees rates:

We are not interested to charge high fees to students because my vision is to
provide quality of technical and vocational education to my people of our city.
There is trend in the people to seek the education but there is no such institutions
that provide them technical and vocational education. The demand for technical
diploma holders is increasing now-a-days.

Our ultimate goal is to build a unique technical college and promote it so

effectively that the students are willing to take admission here. Our long-term
objective is to build a college that is not entirely based on fees but on quality line
of courses and good will.

Business Management:

As entrepreneurs, off course we should manage the college ourselves at all

levels with the help of our friends and staff. We have decided working positions
for us. So both of us will work on following positions:

➢ Mr. Zaid Qadir Principal

➢ Mr. Iftikhar Raza Faisl Administrator

All the other staff will be chosen on merit and according to requirements.

The Vision and the People:

The Vision:
Vision is the central most idea that encourages the action. We have long turn
plan that we shall provide quality education for long turn benefits of our country in
the industrial and economic development. We feel that for healthy economy there
will be a strong educational base. We should encourage and support this strong
educational base through providing quality education at comparatively low rates.

The People:
We have personal contacts in city and in many primary and secondary
educational institutes. We shall run a campaign for advertisement and promotion
of our business and tell the people about the benefits for seeking the modern
technical and vocational education and also the scope of the technical education
in the development of industrial and economic development. The people of our
city are fully aware of the importance of education they will also promote me.

Resource Requirements:
There are many resources required for this college like finance, Lab equipment,
Office Equipment and many other resources. These are as follows;

Fiancé:
Finance is the first most element of investment out flow. There must be sufficient
finance available to establish for the new setup of the business and to run the
business with efficiently and effectively.

Building:
This is also first most requirement of the college for establishment. Building will
be initially obtained on rental basis on maximum 10 years of rent agreement.
After this period there is possibility that the college will establish its own building.

Lab requirement:
According to the structure of courses there must be separate fully furnished labs
for each subject. In this plan there are few courses entitled, these subjects highly
specialized and require separate labs and instruments, without these courses are
considered incomplete. So, it is the second most requirement of the College that
will be needed.

Equipment:
For these separate technologies there is a need of instruments and equipment
for each subject. There is also need for fully furnished Administration office with
modernized technology instruments.

Teaching faculty:
There is need of highly specialized and educated teaching staff who can teach
with devotion and honestly. I have good relation with the college friends and my
teachers. Our friends are very educated and have experience of teaching
different colleges of technology. They will also help us in meeting the faculty
requirements of the college.

Centers of Excellence:

A centre of excellence is achieved in areas where there is recognized expertise,

related services, applied research and dissemination of knowledge, national
reach, and a resource centre for experts.The College claims two centres of
excellence:

✔ Foundational Learning; and

✔ Immigrant Career Advancement

Communications

Computer and Communications Tools

Communication plays a vital role in the process of growth and development.
Communication is the life blood of every organization. I plan to take advantage of
all the computer and communications tools presently available to establish
myself on the same level as many colleges do. Following equipments and
technologies will be used in U.A.E College of Technology.

Communications
All the communication setup will be based upon the widely used channel of
communication which is internet and local area networks with in the U.A.E
College Departments. There will be a central server through which whole the
network in supervised and controlled. The following are the list of communication
channels which will be used in college as media of communication.

Telephones
All the offices and the department will be interconnected vide telephones and
wirelesses.

Facsimile
In all the departments, facility of fax machines will also be provided.

Computers
All the offices and departments will fully furnish with computer systems and all
the range of network accessories.

Internet
As stated above All the communication setup will be based upon the widely used
channel of communication the internet and local area networks with in the
college.

Organization

Business Organization
We plan to form standard college for the betterment of society. It is our intention
to grow this college in the way of development and progress. The initial and
ongoing costs of operations will be a definite business expense. We feel this is
the right form of business for us because we are both electrical engineers and we
shall perform as an entrepreneur.

Professional Consultants
We feel it is important that our team of professional advisors be in place before
we start the business. Here is a list of these professionals:

These consultants are:

Lawyers: Mr. Abbas Hussain Bhatti (advocate)

Accountants: Mr. Muhammad Suhaib (MBA finance)
Bankers: Manager MCB KRK

Location

Location Criteria
We will choose the location whose outlook is suitable for college and there is
safe& peaceful environment. It is a location where there is convenience for both
the students and staff and easily available transports.

While choosing the location the following criteria will be exercise;

i. easily availability of transport facility

ii. security and peaceful environment
iii. study environment
iv. graceful location
v. unpolluted environment
vi. stationary availability
vii. healthy environment airy class rooms lawn facility
viii. canteen

Accounting and Cash Flow

Accounting
We have commerce Graduate consultants. They know all the basics and
advance knowledge of accounting, commerce and management related to field.
We feel no puzzlement related to accounting, finance or management related
matters. They will be ready to help us in this aspect.

Accounting and payroll software programs:

There will be following system software’s for the purpose of accounting for fees
and payroll databases. These are:

1. Peach Tree
2. Microsoft Excel

Method of accounting:
There will be used the cash method of accounting since this is generally adopted
in services departments and organizations.

Business records:
Accounts of college will be kept separate from our personal accounts. All the
college record will be prepared clean & properly. There will be accountants and
clerks who will be responsible for record keeping.
Legal issues:
Our consultants will help us to set up legal issues like registration and other
board matters and the statutory deductions of funds.

Bank account reconciliation:

Bank accounts will be reconciled on a monthly basis. A great check and balance
system will also be kept.

Balance sheet:
Balance Sheet Included is a schedule of equipment and fixtures needed that will
appear as assets of college on the other side bank loans and borrowings &
capital would appear.

Income statements:
Income statement will be made on monthly basis. Every month income and
expenditures will be compared and next agendas will be discussed to follow.

Internal Controls
During my start-up phase of approximately 1-3 years, we plan to perform as an
entrepreneur. Accountants and other administrative staff will help me in
maintaining the internal control system of the college. Proper discipline will be
maintained and ruled and regulations will be strictly followed.

Balance sheet (estimated)

Initial estimated balance sheet will be as:
 U.A.E COLLEGE OF TECHNOLOGY
BALANCE SHEET
FOR THE PERIOD OF 2010
Assets Amount Liabilities Amount
(Dr.) (Cr.)
Long term assets Liabilities:
Furniture and fixture 400,000 Bank loan 800,000
Office equipment 100,000
Lab instruments 600,000
Building Rent 23,000
Capital: 1500,000

Total 1123,000 1300,000

Advertising and Promotion tools:

To promote the college promotional and advertisement tools would be used in
order to expand the benefits of education in the society. Following means of
advertisement would be used;
• pamphlets
• banners
• cable adds
• broachers
• and personal relations