Get real P&L data for your plan!

We have complete profit and loss financial data from companies like RQM Technologies.

SIC 3663 Electronic, Elctrcl Eqpmnt & Cmpnts, Excpt Computer Eqpmnt - Radio and t.v. communications equipment

*Reports start as low as $89

 

Tracking Device Maker Business Plan

RQM Technologies

This sample business plan can be edited directly in Business Plan Pro software.

Page 1   2   3   4   5   6   7   8  

Executive Summary

RQM Technologies (RQM) is an exciting start-up company in the newly emerging field of Personal Tracking Devices; respected industry analysts such as Ovum and ABI Research predict this will become a $22 billion market within the next five years.

Products and Services
RQM will develop and distribute miniaturized Personal Locator Devices (or Personal Tracking Devices). Initially, the manufacturing of our devices will be subcontracted, while we develop the supporting software and systems internally, although we plan to manufacture our products in-house in future years. Unlike our competitors, we have military-inspired proprietary technology (patents applied for) which allows many of our systems to work with or without the presence of cellular towers, enabling their use anywhere in the world, including cities, deserts, oceans, lakes, mountains, or anywhere else adventurous travelers find themselves. Our products are also distinct in that they are small and fully programmable. Our systems can be customized by the end user for his or her unique, individual applications - for example, maritime applications which include a water-activated signal (as when a crewman falls overboard) are different from those required in business applications.

Market
Our primary target markets include, but are not limited to, the family consumer, channel sales to original equipment manufacturers (OEMs), businesses tracking shipments or vehicles, the military, and the political arena. Because of our unique proprietary programming capabilities for each individual unit, we have already received indications of interest from several of these target markets, including one branch of the U.S. Military.

We predict our systems will also appeal strongly to families concerned about the safety of their loved ones. Sadly, child abduction is on the rise globally.  More than 2,100 children are reported missing each day in the U.S. alone (FBI National Crime Information Center). At the other end of the age spectrum, there are 4.5 million Alzheimer patients in the U.S., 60% of whom (2.7 million adults) wander away from their homes at some point, unaware of their surroundings. We believe our devices will greatly reduce these figures in both cases, while potentially saving lives.

The combined number of "potential" customers for our products is well over 500,000,000; we will focus on a more realistic and attainable three-year sales goal of roughly 99,000 users worldwide, which will generate many millions of dollars in sales revenues.

Management
The founders of RQM Technologies, Steven M. Bloome and Andrew F. Siska, have been associates for over 20 years; they create the perfect synergy to ensure the success of our company. Steven M. Bloome is a Sales and Marketing Management veteran with more than 25 years of successfully penetrating previously unseen markets niches, partnering with other companies in win-win scenarios, and creating national presence for companies. He is also, accomplished in launching new products. Andrew F. Siska is a Chief Electronic Engineer with 20 years experience, and is considered an expert in his field, having previously designed devices for military applications, medical imaging systems, computers and more.

By focusing on our strengths, our key customers, and our customers' needs, RQM Technologies will increase sales to several millions of dollars within two years, while also improving the gross margin on sales, cash management and working capital.

1.1 Mission

RQM Technologies' mission is to become the leading vendor of Personal Locator Devices worldwide. Through a combination of evolving technologies, miniaturization, affordability for the end-user, programming capabilities and ease of use, RQM Technologies will be known as the premier developer/supplier of potentially life-saving Personal Locator Devices.

1.2 Keys to Success

The keys to success in this business are:

• Product quality and efficacy in real-life situations.
• Utilizing next-generation technology in order to improve upon current systems, while differentiating ourselves from our competition.
• Marketing: either dealing with channel issues and/or barriers to entry, or solving problems with major advertising and promotion budgets in order to penetrate our target markets.
• Management: products delivered on time, costs controlled, marketing budgets managed. There is a temptation to increase growth at the expense of profits; we will keep a close eye on this temptation in order to live up to our plan.
• Sustaining controlled growth in order to manage start-up costs more efficiently.

To maintain these key factors, RQM Technologies' needs include start-up funding, partnering with value-added investor/partners, aggressive marketing, quality sales professionals, accomplished C-Level management, product branding, increasing reach into target markets, affiliating with the right channel partners, competitive intelligence and appropriate use of evolving technologies.

1.3 Objectives

RQM Technologies has identified three types of objectives that will serve as challenging but attainable goals for the organization. They are:

Business Objectives

1. To become the premier vendor in the new and evolving Personal Locator Device industry.
2. To reach profitability within one year of the company's launch.
3. To develop additional profit centers such as programming, training, seminars, ancillary equipment, etc. within the first two years.

Financial Objectives

1. Increase product sales to several million dollars annually by the end of the second year.
2. Bring gross margin up and maintain that high level by the third year.
3. Improve inventory turnover on an ongoing basis, until "just-in-time" inventory is standard by the third year.

Marketing Objectives

1. Focus on target marketing to increase market penetration and domination.
2. Expand target markets with controlled growth.
3. Establish brand awareness for the RQM Technologies' name and products.
4. Position ourselves as the leading Personal Locator Device company in the world.