RQM Technologies (RQM) is an exciting start-up company in the newly emerging field of Personal Tracking Devices; respected industry analysts such as Ovum and ABI Research predict this will become a $22 billion market within the next five years.
Products and Services
RQM will design and distribute miniaturized Personal Locator Devices or Personal Tracking Devices. Our initial manufacturing will be done by subcontractors, while the supporting software, systems, and software will be developed internally. However, in the future we hope to manufacture our products entirely in-house. Our patent-pending technology, military-inspired, allows us to use many of our devices with or without cellular towers. It is possible for our systems to be used in any location, including cities and deserts, lakes, mountains and other places where adventurous travelers may find themselves. We are unique in the fact that our products are small and fully programmeable. Our systems are flexible enough to be tailored by each end user to meet their specific needs.
Market
Our primary markets include the family consumer, channel sales for original equipment manufacturers (OEMs), tracking businesses, military personnel, and the political arena. Due to our unique programming capabilities for each unit, we have received indications from several target markets, including one U.S. Military branch.
Our systems are expected to be popular with families worried about their loved ones’ safety. Child abductions are increasing worldwide. Each day, over 2,100 children are reported missing in America (FBI National Crime Information Center). The other end of the spectrum is the 4.5 million Alzheimer patients living in the U.S., 60% wandering from their homes, unaware of their surroundings. Our devices can potentially save lives, and we believe they will reduce both of these figures.
The total number of potential customers for our products is well above 500,000,000. We will instead focus on a realistic and achievable three-year target of approximately 99,000 users worldwide. This will produce many millions in sales revenues.
Management
Andrew F. Siska (founders of RQM Technologies) and Steven M. Bloome (founders) have been partners for over 20 years. Their perfect synergy ensures the company’s success. Steven M. Bloome is a Sales and Marketing Management veteran with more than 25 years of successfully penetrating previously unseen markets niches, partnering with other companies in win-win scenarios, and creating national presence for companies. He is also, accomplished in launching new products. Andrew F. Siska is a Chief Electronic Engineer with 20 years experience, and is considered an expert in his field, having previously designed devices for military applications, medical imaging systems, computers and more.
By focusing on our strengths, our key customers, and our customers’ needs, RQM Technologies will increase sales to several millions of dollars within two years, while also improving the gross margin on sales, cash management and working capital.
1.1 Mission
RQM Technologies’ mission is to become the leading vendor of Personal Locator Devices worldwide. RQM Technologies will be the most trusted supplier of potentially lifesaving Personal Locator Devices by combining innovative technologies, minimization, affordability for end-users, programming capabilities and easy use.
1.2 Keys to Success
These are your keys to success in the business.
- Product quality in real-life situations.
- Use next-generation technology to improve on current systems and distinguish ourselves from our competitors.
- Marketing: Managing channel issues and/or barriers of entry or resolving problems with large advertising and promotion budgets to penetrate target markets.
- Management: Products delivered on schedule, costs controlled, marketing budgets monitored. There is an temptation to increase.
growth at the expense of profits; we will keep a close eye on this temptation in order to live up to our plan.
RQM Technologies needs start-up funding and partnering with value added investor/partners. They also need to have accomplished C-Level management.
1.3 Objectives
RQM Technologies has identified three types if objectives that are both challenging and achievable for the company. These are:
Business Objectives
- To be the best vendor in the emerging Personal Locator Device Industry.
- Within one year after the company’s founding, profitability.
- To develop additional profit centers like programming, training, seminars and ancillary items. Within the first year.
Financial Objectives
- The second year will see an increase in product sales of several million dollars.
- Increase gross margin and keep it at an all-time high by the third fiscal year.
- Improve inventory turnover on an ongoing basis, until “just-in-time” inventory is standard by the third year.
Marketing Objectives
- Focus on target marketing to increase market penetration and domination.
- Increase your market share with controlled growth
- RQM Technologies’#8217′ name and products should be well-known.
- Position yourself as the best Personal Locator Device Company in the World.