|BUS620 Project Profile/Executive Summary|
|Name of the Business Venture:||Company Profile|
|The Transit App is an application that can be purchased in the IPhone or Android store. The basic function of the app is to provide real time notifications and alerts regarding the transportation they are using. The core function of the app is to notify the user regarding the delays and the schedules of all the public transportation. The benefit of the app that differentiates it from the market is that the app is directly connected with transit authorities after they allow us to use their schedule information in real time basis. This further allows the user to justify their travelling delays and alternate travel routes. The employers can make sure through this app that their employees are not joking around and they did get delayed for transportation reasons or not. The application provides multiple utility to the users and that makes the app having the potential to become the next big thing.||Name:|
|Name: Tel: n/a
|Product/Service: (value proposition, intellectual property)||Financial Information|
|The reason this application is valuable is because it has not been done before, in a correct manner. Even Google has mastered this technology yet. In 2017, everyone is on the go & nothing can stop them besides delayed transportation. They have created methods for our cars, cabs & UBERs to avoid delays but not the cheapest and sometime most reliable form of technology, trains. This app will not only bring more time to our customers (time that everyone wishes they had) but it will also become a fact checker for employers to see that sometimes life happens & people get delayed.
This is an application for smart phone devices so this can be seen both as a product & service. Seeing as this is digital, we must make sure to protect our intellectual properties and make sure not to illegally use others.
Intellectual Property-Industrial Property: The idea of the app. is too board to trademark but the industrial property we would be securing the trademark of the logo & design & layout of the application.
Transit Colors: we are going to have to get permission from the different transit companies to have the rights to use their colors to advertise. Starting in NYC, we would just need permission from the MTA & the Port Authority Bus Association. I do predict that if the app does great in NYC, when we expand getting more permission will be easier.
Transit Schedules: Everyone has access to the train schedules but since this app offers alerts we need to get permission from the transit companies to share their data with us. I am aware of the Twitter accounts they use to update passengers on alerts, we just need access to this information to get the app up & going.
|Revenue Run-rate: $0.00|
|Capital Deployed: $50,000|
|Third-party Funds Raised: $|
|Marketability: (demand, sustainable competitive advantage)||Entrepreneur/Management|
| In this fast pace world, an app such as Transit is needed. No matter what part of the world, especially the big cities, people want to be on time, especially if it is for work. The demand for an accurate application that not only give the times of the different transportation but also alerts you on delays while giving alternative routes, plans your trip & uses your data to learn who you are, is very much need.
The competitive advantage for an application such as this is very simple. Give the customer what he or she wants in one place while learning who he or she is. While also providing them with the necessary tools to have fun (event updates for travelers) and be on time.
|(Name, Qualifications and Title)|
|Viability: (profitability, technical feasibility)||Advisors|
Like any start up business the financial forecast and the initial financial feasibility reports of the business plan are considered to be the key information before the execution phases of the business start. In this context, the financial position of the startup is as follows:
To achieve a workable, condition the need for the total required capital is $300,000. This further breakdown in to smaller yet mandatory division of the capital. Total capital required in cash is $50,000. This further adds up with the procurement of fixed assets purchases and App development that is $50,000
Working in hand capital is $50,000. This amount will be utilized to meet any operational contingencies. Or meet any unexpected operational expenses.
$25,000 will be used for marketing expenses. Advertising through social media and electronic media. $25,000 will be used for salaries for the next 4 months. And remaining $5,000 will be used for IT equipment.
The division of the total working capital is tentative to the most suitable function. It will not be wrong to say that this break downs can be re calculated depending upon the request of the stakeholders. Still, in clarity of the financial kick start, the above mentioned capital is essential to make sure that the initial working capacity is not compromised and the company will work on great footing as this capital will be the starting point of the new business capacity.
As per the financial forecast the first year expected revenue is 1.5 million which can easily compensate for the total starting capital. Further, the expected and the calculated growth rate is 20% which is a great promising start for any business. Since our business has the ability to create a boom in the market the growth rate has the potential to break the ceiling in the first six months of the app launch. Expected net income $800,000 that is being under constant appraisals and customer satisfaction protocols. 5-year projection net income is expected to be around $3.5 million which shows that the business is highly viable and the benefit to the stakeholders is definite.
|Management: (background of key members)||Current Investors|
Action Plan: (milestones)
The action plan of the startup is to arrange the initial working capital and procurement of the assets both fixed and intellectual property. Further, the technical development will be initiated simultaneously asking for permissions from the national transit authorities to get the real time schedule information. The testing phases will follow before the all-out media and marketing campaign before the hard launch of the app. In the marketing the strategy the use of social media and coverage of the local media will be the key objectives.