Truckbay, LLC, Limited Liability Company, is an organization under Nebraska law. It was established by Jim Bell (co-founder) in October 2002. Truckbay.com has a new business model. It will be a light equipment list service on eBay Motors. The network will also include linked websites that can increase sales and exposure. Truckbay.com is aiming to become the world’s leading light equipment classified listing service. This goal can be achieved by ensuring that every listing gets the maximum number of views.
Truckbay.com was created in October 2002. Truckbay.com was launched in February 2003 after a five-month initial software development period. The core business model of Truckbay.com is currently a recurring monthly income from a member fee that light duty truck dealer pay. This membership fee grants access to an e-community that consists of like dealers, who use the industry-specific software to purchase and sell wholesale equipment online.
Truckbay, Mr. Y. and Mr. Z. discussed a merger proposal in September 2004. This was done to discuss the benefits Truckbay would derive from a partnership with them. Company X was established by Mr. Y and Mr. Z in the early 2000s. Company X was the most successful eBay Motors listing service, capturing more than 21% of all their automotive listings. Company X purchased their company from eBay Corporation in January 2003. This resulted in an 800% return for their original investors. Their success and expertise in eBay Motors and Search Engine technology are ideal compliments as Truckbay turns its focus to this similar business model. Company X has agreed to contribute capital, business and technical consulting, along with a venture capital pool, in exchange for 15% ownership in Truckbay.
Truckbay will be focusing on four key markets for our online classified advertising solutions.
- Light Truck Dealers
- Fleets
- Financial Institutions
- Individual Owners
Our most important customers are the Light Truck Dealer Principals and Sales Managers. The Sales Manager is usually responsible for distributing the large advertising budget to the best sources of lead generation. Although they are open-minded to new sources for most of the time, they seek immediate returns on their investment. Truckbay can generate leads and sales immediately by leveraging eBay MotorsՉ۪s vast marketplace and other multi-channel linked sites.
Financial Considerations
The marketing research and tailored marketing strategy described in this business plan will result in after-tax profits of approximately $549,000 by 2007. By 2008, the eBay Motors light truck market will have a market share of 20%. Cash basis. Pre-paid listings accepted only.
Truckbay is seeking venture capital of $475,000 for 19% ownership. Based on projected earnings from Company X’#8217’s past, we anticipate an IRR between 109% and $1,043,100. An investor would be valued at $1,043,100. Truckbay should be sold within 3 to 5 years to a more related company (such e-bay).
1.1 Objectives
Truckbay’s main objective is to offer an online classified advertising platform that targets the global heavy-truck and equipment market. Our key goals include:
- Make use of eBay Motor’s marketplace for rapid market exposure in this highly niche industry.
- You can drive viewership with cutting-edge Search Engine technology.
- Offer a complete, affordable eDealer package of online services that will help you to build long-lasting loyalty.
1.2 Mission
Truckbay is a business enterprise. It exists to generate sales and profits for its owners, employees, managers, and owners. Truckbay is also a service company and exists to provide services for its customers.
- The company will offer the best online marketing solution for the global heavy-truck and equipment market.
- The company will partner with proven, experienced consultants and industry leaders.
- Our customers will always get a value-added service that makes use of the most recent technology advances.
- Our team will consist of high-energy, results-oriented people who are trained to be the best.
- Our
Team will have the opportunity to thrive and grow in a dignified environment.
1.3 Keys to Success
Our main keys to success are:
- Utilizing key Search Engine technology to drive traffic
- eBay Motors: Traffic Boosting
- Positive team workplace environment
- A team of skilled managers
Certain risk factors will be minimized by:
- Keep overheads low
- Hire a draw team, rather than a commissioned sales team
- Utilizing successful practices from a proven business model
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