Stretch ‘?r Wings, a start up company, makes medical interiors for helicopter pilots and hospital flight program operators. Stretch ‘?r Wings can design and sub-contract certain manufacturing.
Stretch ‘r Wings has identified and is working to complete four objectives that will assist them on their path to profitability. The FAA approval of Supplemental Type certification (STC), is the first objective. The second objective involves a preliminary prototype. Next is the need to secure parts manufacturer approval. Finally, a marketing campaign and plan must be developed.
Stretch ‘’r Wings targets both aircraft operators and hospital flights programs in both the United States as well as international markets. These two segments currently have the greatest market potential. These segments will be reached by Stretch ‘ ;r Wings in a variety of ways. They can send brochures and direct mail, as well as brochures and advertisements through trade publications and the internet. The US market as a whole, the international markets and military are the key segments. All three segments experience a five percent annual growth rate. 800 potential US customers, 300 in international and 100 in military markets are possible.
Stretch ‘?r Wings will use their competitive advantages, which are based primarily on product innovation/features and pricing competitiveness. Their use of aluminum frames creates an easy-to-assemble unit that is strong, lightweight and sturdy. Next is a built-in storage device which maximizes space. Finally, Stretch ‘’r Wings will use a glide ease stretcher system to make entry and exit as simple as possible. All Stretch‘:r Wings units were designed to be compact, efficient, and safely.
Stretch ‘ ;r Wings has put together a strong management team in order to implement their solid plan. Stretch ‘ ‘r Wings’s product design master is **. After a 20-year industrial design career, he has recently focused his designs on medical applications. His wife is a doctor. **, who is the business mind of our company, complements our designer master. ** will be responsible for operations and strategic planning. He was Vice President of Operations at a $45,000,000 bicycle manufacturer for 17 years.
Stretch ‘’r Wings will be profitable by year one. Profits will continue to rise through year five. For year two, sales were conservatively projected at $230,000. Year five will see sales of $634,000. Stretch ‘: Wings is an exciting company that creates innovative designs to fill a niche market need. The company will be managed by a team of experienced managers.
**Names have been withheld for confidentiality.
1.1 Objectives
These are the business goals and targets for Stretch ‘ r wings:
- You can obtain STC approval from FAA on eight popular general aviation planes.
- Prototype of a Medical Interior for FAA Conformity Inspection
- Upon completion of the first STC, Stretch ‘r Wings will secure a Parts Manufacture Approval (PMA) from the FAA.
- Develop a marketing plan, sales literature, website, e-commerce, and sales department. After approval by several STCs, this step will be executed.
1.2 Mission
Stretch ‘’r Wings will market a quick-change medical device for aircraft and helicopters. This product is unique and will enable the owner/operator of an aircraft to either carry regular passengers or to quickly switch to carrying a medical passenger. The medical unit can be described as a self contained life support system. It has an internal component with oxygen, vacuum, DC and AC electricity. Stretch ‘r Wings will develop, manufacture, and market this product.
1.3 Keys to Success
Because the aviation industry is very regulated, Stretch ‘’r Wings will have to obtain the required STCs or PMAs from FAA. Although the company’s staff has had several years of successful experience in doing STCs, this process may take longer than is planned, which could negatively affect the company’s prospects.
Strong marketing efforts will help increase brand awareness and customer acceptance once the products have been approved by the FAA. Stretch ‘ is the best tool for this purpose.
r Wings will be at all major trade fairs, publishing high quality sales literature and providing after-sales services to its clients.
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