FireRescue Depot is an exciting start-up business that has been registered as an Illinois S Corporation. FireRescue Depot is a vendor of fire department and search and rescue hydraulic tools. FireRescue Depot is able to offer a full line of hydraulic tools made by all the major industry manufacturers. This sets FireRescue Depot apart from other vendors. FireRescue Depot offers a large product selection because they have arranged drop ship agreements with all the manufacturers. This greatly reduces inventories. Steve Dalmatian was the founder of FireRescue Depot. A competition awarded $50,000 in prizes to the winning ecommerce business plan. FireRescue Depot’’s unique approach in offering an extensive selection and also its ability to address the common pitfall that large inventories can lead to, the plan won the competition. Steve’s initial validation of his innovative, profitable business model was when he won the competition.
Products– FireRescue Depot will offer several different classes of tools for fire and search/rescue departments. These classes are the foundation of a department’s toolbox.
- Rams are used in punching and pulling, as well as for shoring, stabilizing, and supporting. With up to 15,000 pounds of punching force, they can easily displace a dashboard, move a steering column, or stabilize a vehicle. Available in various sizes.
- The best cutters offer maximum flexibility and cutting force. You can choose from various sizes and pressures to fit your needs. There are many models to choose from, including different sizes and jaw designs.
- Spreaders are used to separate different materials such as metal, timber, and other mass-materials. Different models have different spreading distances (24-40inches), and different spreading forces (19,000 – 37,000lb).
- Combination tools mate cutters and spreaders into one tool. These are useful tools when you have to move metal. They also provide quick response times and the cutting power needed.
Market– The following is a description of the two distinct customer segments that FireRescue Depot has identified and will tailor their marketing and sales activities toward.
FireRescue Depot targets two market segments. The first market segment is the urban fire and emergency departments that have more than 10 employees, serving more then 10,000 people. 3,435 potential customer have been identified. The annual growth rate is 8.8%. Rural departments employing fewer then 10 people and serving less that 10,000 people are the second category. This segment has 8,787 potential customers and grows at an annual rate 7%.
Management FireRescue Depot’’s management is aware that even though business models and ideas may change over time, what is most important to a business are the people who can execute a well-designed business plan.
Steve Dalmatian is the FireRescue Depot manager. Steve is well-equipped to handle the business opportunity. Steve is a veteran of three years working in a fire service, where he assisted in many rescue operations. This experience has given him a deep understanding of the industry and its technology. Steve’s MBA from Loyola University gave him extensive business skills.
Mission
FireRescue Depot’s mission is to be the best vendor of fire- and rescue equipment. Through a combination of outstanding selection and attention to detail, this customer-centric organization will be known as the best retailer for the price and customer service.
Keys to Success
FireRescue Depot identified three key keys to success that are essential to sustain profitability. To determine if an organization is meeting these key requirements, the organization will continuously monitor them.
- You should identify the most popular products on the market and then sell a variety of them.
- Excellent customer service is key to building long-lasting relationships with customers.
- Design and implement strict financial controls.
Objectives
FireRescue Depot is identifying three objectives that will serve to set lofty goals but are achievable for the entire organisation. These objectives are:
- To be a major vendor in fire rescue hydraulic tool markets.
- To achieve profitability in 24 months.
- To increase market penetration to 15% over the course of four years.