EZ Tracker: Analysis of International Business Opportunity … Business Plan
Pages: 40 (10645 words) | Style: MLA | Sources: 10
Who We Are
In the fast growth market of Personal Locator Devices (PLDs), ABC Tech-Nic seeks to be a name of reckoning and sought of by the customers.
What We Sell
ABC Tech-Nic will be outsourcing the design and production process of the product to China initially. The software, however, will be developed in-house. The main feature will be its ability to work even in the absence of a mobile tower in the vicinity. Add to that the fact it can be fully customized at the user end; meaning, a very superior product, to the ones available in the market. The ones available in the market are solely meant for commercial purposes. Our product will have a larger range of applications.
Who We Sell To
While the basic market in our view is the commercial sector, transportation and as OEM (Original Equipment Manufacturers) suppliers to manufacturers, we see a much wider use for our product and are confident of making our presence felt in a much more wider segment. One emerging use of this product could be tracing of family members who either have been abducted or have lost their way. That is specifically true of the children (more prone to be abducted these days, 2100 missing cases reported daily) and the aged parents (suffering from memory loss and cognition, 4.5 million persons afflicted by Alzheimer, with at least 50% losing their way to home). The most conservative sales figure works out to a whopping 100,000 pieces within three years.
ABC Tech-Nic is a start-up owned privately, operating out of Bolingbrook, IL, a suburb west of Chicago.
ABC Tech-Nic was formed to produce and market advanced devices to have wide ranging applications for personal use and also commercial applications like high value courier services and transportation industry and military applications.
The company aims to be a customer as well as an employee-oriented organization while engendering profitability by incorporating organic growth. The company aims to create an atmosphere of congeniality and co-operation among its ranks by involving its workers as a tightly bound family. Most emphasis will be laid on supplementing its marketing plans with stress on word of mouth marketing.
Mr. A and Mr. B are the founders and joint owners of this enterprise, ABC Tech-Nic. We both are active investors and partners who will also help each other advice the legalities and financial aspects of global markets as we are actively considering going global with our product shortly.
ABC Tech-Nic' aims to be the world leader in Personal Locator Devices. With that goal in sight, the product will have the best user interface, affordable, field-programmable and a handy size that will be easy to carry.
Keys to Success
This segment requires attention in the following key areas, which will lead to our success:
Quality of the product and its practical utility as well as efficacy.
Maintaining a qualitative edge over competitors by improving existing technology.
Marketing: marketing and advertising planning and implementation to ease sales by penetration for retail sales. The OEM supplies have to be firmed up for long-term arrangements.
Management: balancing costs and effects to maintain quality and organic growth, utmost care during the gestation period.
The summed up requirement demands adequate funding means at appropriate times, teaming agreements with resourceful players in the market, a marketing team of proven acumen, vigorous campaigning and advertisement schedules. Market feedback and intelligent use of technology will need to be incorporated to achieve these goals.
Goals and Objectives
ABC Tech-Nic places its focus on the 3 key business objectives
To be come the market leader in the nascent Personal Locator Device Segment.
To accrue net gains within 12 months of operations.
To develop auxiliary capabilities (training, programming and products) for generating revenues
Financial Goals and Objectives
Achieving sales figure of millions of dollars in the second year itself.
Raising and maintaining the profit margins by the end of the 3rd year.
Maintain a proper balance of inventory assets to achieve JIT (Just In Time) standard by the end of 3rd year.
Marketing Goals and Objectives
To make Personal Locator Devices synonymous with our company -- ABC Tech-Nic in the world -- through marketing efforts and with a qualitative and balanced growth in sales.
Our initial plans include setting up the workplace, setting up the platforms for software designing, testing and implementation, test run and firming it up. Simultaneously we plan to firm up the marketing plans and giving them a test run. The start up costs that a typical emerging enterprise needs, like the legal, financial, monthly payments, budgeting for anticipated and contingency needs in future will be borne by us during this time. The test-run on PLD's will also be done during the duration. These initial investments will be met by the owners.
The first year will be crucial for us as long as finances are concerned necessitating the need for heavy investing to cover us in the start-up year. That need will be, over and above, the cash generated through sales of PLD's.
There will be a need for a test bench and set up for the testing and research processes for a year at least and towards the same we plan to have leased premises. The bare minimum cost will be used in this pre-production period. The works and offices that we will then seek, emerging out of needs of staffing and other exigencies, will be sought to meet the absolute demands.
The very basic minimum facilities, devices and equipment that we will need are: the development equipment needed for testing the product- the electronic base and software; furniture to set up at least three platforms equipped for work; office automation machines (a couple of laptops, Personal Computers from Dell, a color printer-cum-scanner, a high MP camera GPS systems including GPS mobiles and a reliable, stable internet broadband connection.
The cash needs will include all incidental charges that accrue on monthly basis for import and transportation of the devise from China, as well as, the fees paid to lawyers and financial devices, conveyance (leased vehicles).
Products and Services
ABC Tech-Nic will initially import (but later on develops) markets and sells miniaturized, affordable, electronic, remotely accessible Personal Locator Devices using stand-alone GPS/GSM technology, which does not rely on cell phone towers to send and receive data. The remote Personal Locator Device system incorporates a small field-programmable stand-alone gadget fitted with GPS/GPM capabilities, capable of being activated remotely (it can actually be activated from any corner of the earth) to locate the wearer's position in real-time, speed and orientation of travel, in a 3 meter radii zone. It promises to be the best available device to aid search operations in contemporary market.
This device can be used to help family considerations in locating lost persons and pets. It can be of immense help in commercial as well as military, political and other sectors.
Phase 1 Personal Tracking Device (PTD) will initially depend on the mobile towers' prevalence to offer lower initial costs and an accuracy of a location precision radius of 9 meters.
Phase 2 PTD will no longer depend on the towers. It may add to the operational costs marginally but will have much wider use in locations that are remote and bereft of mobile access. In places like forests, devoid of human inhabitation, the high seas, and the like, it will make use of the GPS mapping technology. Such locators are exclusively available only in military operations. All such activities where people are remotely placed away from the reach of mobile towers, these will be a useful locator device. Customers will be presented this device by the fall of 2015.
As ABC Tech-Nic grows, we will be defining and developing additional revenue channels for our company. We plan to deliver seminars, train people, impart software development training, and other marketing-oriented activities for updating our own resellers and channel partners.
This market segment has come into being only recently. The first appearance of this device was seen in the seventies limited for military applications. Technological advancements and accompanied cost reductions have made it viable to be used commercially, and now, even for personal use.
Based on the reliable estimates figured out by the marketing research firm, ovum, we aim to tap the $22billion market (by 2015). There are, at present five key market segments that we identify: OEM's, personal, commercial, specific business applications, and political application areas.
Economic, Political and Legal Analysis of the Two Trading Countries
Economic system of both countries:
The First Trading Country: China
In the recent past, China has achieved remarkable economic growth, and it is today the envy of many nations. Sample the following facts: Whereas the U.S.A. has a population of slightly more than 300 million people, China on the other hand has 1.3 billion people; and its landmass is less than that of the U.S. Despite once being regarded as a closed-door… [END OF PREVIEW]
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