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Business Plan - Pet Id Tag

Autor:   •  March 8, 2011  •  Case Study  •  2,672 Words (11 Pages)  •  2,022 Views

Page 1 of 11

I. EXECUTIVE SUMMARY

Losing pet is not only hard for the family but even harder for the pet itself. A dog or cat without a home is a pet without a life to offer. Hence, it is crucial for our society to take action and prevent the world of lost pets to catastrophe. Lost dogs and lost cats are just like a missing child, family feel heartbroken and it cannot be measured by the money value of the pets, but what we lose is the value of love.

Smart pet tag is a device to help you find your lost pets. Our system consists of three parts: smart ID Tag, online pet database, National-wide shelters. Each smart ID Tag has a RF transmitter implanted and once the pet is in the range of our local shelter, our system may detect the current location of pet. Once your pet gets lost, the first thing you need to do is to inform our Live Emergency Response Centre. Then our staff may search pet's profile in our database and start the searching process. Once our local shelter reports any clues that match pet's profile, we will inform pet's owner at the first time and help him identify the pet.

Currently, around 65 percents of all US Households have pets, some family even have more than one pet. Our customers are mainly all the families that have small pets, like cats and dogs. Our product will be implemented in the Los Angeles region which comprises of about 3.2 million pets. Our goal is to expand the scope of work to all of the southern regions of the State and then further to other regions where the events of losing pets happen frequently.

Our product can be advertised online as most people like to search accessories online for their pets. Google Ads is good place to propagate our product. Advertising in regions with high pets' density such as urbanized areas will also promotes the sales of our product. Furthermore, we will put advertisements through local television networks. And we will contact the local pets store, persuade them promote our products and in return, they may get commission from our product.

The founder of Smart Pet Tag is Wang Yu, an Electrical engineer from UCLA. We also need one computer engineer for building the database and one personnel to fill the sales and marketing position. Further, as expansion of company, we may need more people in charge of the shelters in different regions for searching purpose.

The smart tags can be sold to the public for $80 and each tag has a profit margin of 40%. We are expecting 500 thousands customers for the first year and looking at $16 million gross profit. And the final revenue will be around $10 million for the first year, and over the course of 4 years, we are expecting to grab two million customers and increase our annual profit to $20 million.

We need $50k investment for company's initial settlement. The investment may include the costs of database, tags manufacture,

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