Tracking Device Maker Business Plan Leave a comment

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). Our devices will initially be manufactured by subcontractors. However, we will continue to develop and distribute the supporting software and systems within RQM. We also plan to make our products in house in the future. Our patent-pending technology, military-inspired, allows us to use many of our devices with or without cellular towers. It is possible for our systems to be used in any location, including cities and deserts, lakes, mountains and other places where adventurous travelers may 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.

Our primary target market includes, but is not limited too, the family buyer, channel sales to original Equipment Manufacturers (OEMs), businesses tracking shipment or vehicles, the military and the political realm. Our unique programming capabilities allow us to program each unit individually, and we have already received interest from several of these target market segments, including the U.S. Military.

Our systems are expected to be popular with families worried about their loved ones’ safety. Unfortunately, child abductions are on the rise worldwide. The FBI National Crime Information Center reports that more than 2,100 children go missing every day in the U.S. The other end of the spectrum is the 4.5 million Alzheimer patients living in the U.S., 60% wandering from their homes, unaware of their surroundings. Our devices could potentially save lives and reduce the number of these cases.

Our products have a combined potential customer base of well over 500,000,000. We plan to focus on a realistic, achievable three-year sales target of around 99,000 worldwide users. This will bring in millions of dollars in revenue.

Management

Andrew F. Siska is the founder of RQM Technologies. Andrew M. Bloome has been an associate for more than twenty years. This combination creates the perfect environment to ensure that our company succeeds. 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’s also an expert in the launch of new products. Andrew F. Siska, a Chief Engineer, has 20 years of experience in the field. He is considered an expert because he has previously designed devices for military applications and medical imaging systems.

RQM Technologies will grow sales by several million dollars in two years by focusing on its strengths and key customers. They also plan to improve the gross margin, cash management, and working capital.

1.1 Mission

RQM Technologies’ mission is to be the world’s leading supplier of Personal Locator devices. 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 for Success

The keys to success are:

• In real-life situations, product quality and efficacy are key.
• To improve upon existing systems and to differentiate ourselves from our rivals, we will use next-generation technologies.
• Marketing: This includes dealing with channel issues, barriers to entry, and/or solving problems with major advertising or promotion budgets to penetrate our target market.
• Management: Products delivered on schedule, costs controlled, marketing budgets monitored. There is an urge to increase.

We will not allow growth to be at the expense our profits.

RQM Technologies needs start-up funding and partnering with value added investor/partners. They also need to have accomplished C-Level management.

1.3 Objectives

RQM Technologies have identified three types objective that can serve as difficult but achievable goals for the organization. They are:

Business Objectives

1. To be the leading vendor in the evolving Personal Locator Device market.
2. To reach profitability within one year of the company’s launch.
3. To develop additional profit centers like programming, training, seminars and ancillary items. Within the first 2 years.

Financial Objectives

1. Increase product sales to several million dollars annually by the end of the second year.
2. Gross margin should be increased and maintained at a high level for the third year.
3. You can improve your inventory turnover and make standard inventory by the end of the third year.

Marketing Objects

1. Target marketing is key to increasing market penetration and dominance.
2. Increase your market share with controlled growth
3. RQM Technologies’#8217′ name and products should be well-known.
4. Position yourself as the global leader in Personal Locator Devices.