FireRescue Depot is an exciting start-up business that has been registered as an Illinois S Corporation. FireRescue Depot supplies search and rescue, fire department, and other hydraulic tools. FireRescue Depot sets itself apart by providing a full range of hydraulic tools from all the top industry manufacturers. FireRescue Depot can offer a wide product range by arranging drop ship agreements with different manufacturers. This allows them to significantly reduce their inventory overhead. Steve Dalmatian, founder of FireRescue Depot, won a contest that awarded $50,000 to the winner of an e-commerce 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 has several types of tools available for fire-fighting and search/rescue units. These classes are the backbone of a department’s tools.
- Rams are used for pulling, punching, pushing, shoring or stabilizing. They can move steering columns, displace dashboards and stabilize vehicles with their punching power of up to 15,000 lbs. Various sizes are sold.
- Cutters provide maximum cutting force and flexibility. A variety of cutters are available. They can be used to cut from 20,000 pounds up to 94,000 pounds. There are many models to choose from, including different sizes and jaw designs.
- Spreaders separate a variety of materials including metal, mass timber, etc. There are several models to choose from. Some offer a wide spread distance (24-40inches), while others have a greater spreading force (19,000-37,000 lbs).
- 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 #8211 The following is a list of two distinct customer segments FireRescue Depot identified and will market to.
FireRescue Depot targets two market segments. The first segment is for urban fire and rescue services with more than 10 staff serving more than 10,000 people. 34335 potential customers were identified. The annual growth rate of 8% is the result. Rural departments that employ fewer than 10 people and serve less than 10,000 customers are the second segment. This segment is growing at a rate of 7% per year and has 8,787 potential clients.
Management FireRescue DepotՉ۪s management realizes that although business models can change, the most important aspect of a business is its management. They are able to create a business plan and manage it effectively.
Steve Dalmatian, FireRescue Depot’s leader, will take charge. Steve is well equipped to take on this business opportunity. Steve has three years experience in a fire department where he participated in countless rescue operations, becoming intimately familiar with the industry and the corresponding technology. Steve’s MBA from Loyola University gave him extensive business skills.
Mission
FireRescue Depot aims to become the largest vendor of firefighting and rescue equipment. This customer-centric company will be the best in price and service by offering outstanding selection and paying attention to details.
Keys for Success
FireRescue Depot identifies three keys to success. All of these keys are required to ensure sustainable profitability. To monitor if the organization meets these keys, they will be continuously monitored.
- Identify what the market wants and sell a wide selection of options.
- With exceptional customer service, you can build long-lasting customer relationships.
- Develop and implement stringent financial controls.
Objectives
FireRescue Depot is identifying three objectives that will serve to set lofty goals but are achievable for the entire organisation. They are:
- To be a top vendor in the market for fire rescue hydraulic tools.
- To be profitable within 24 months.
- To increase market penetration by 15% within four years.