Identify one business idea that you could launch as a start-up business. Please use this as reference: “Business Plan I will be developing is Entrepreneurial.
The big idea is partnering with a partner that specializes in DOT inspections to offer full company audits. I currently cover the compliance side of the trucking businesses which includes back office and paperwork. My partner covers the “outside” of the business which includes DOT inspections, equipment safety and education, and violations that drivers and owner operators may have when over the road. Together we would offer a service where we do full audit of companies from paperwork which includes driver qualification files to equipment inspections. Inside to Outside Audit, so to speak.
The problem that this “big idea” would solve is making sure clients are better educated and prepared for any upcoming audits that could be conducted by Department of Revenue, DOT, or FMCSA.
I’m sure this product exists in the market, I just haven’t seen it advertised. I have seen companies that cover the paperwork. I have seen companies cover the inspections. Both educating on separate matters. I just haven’t seen anyone yet incorporate both sides of compliance to offer a service that would not only educate carriers but make sure they stay in compliance and on the road. ”
COMPANY DESCRIPTION
Briefly describe the Start-up Company that you propose to create:
o What is the name for your new business? THE TRUCKERS’ AUDITOR
o When will your start-up business launch? Jan 2022
o What will its mission be? TO MAKE SURE THAT AFTER A FULL AUDIT, CARRIERS ARE IN COMPLIANCE, LEGAL & SAFE TO BE ON THE ROAD
o How many staff will you need? Provide an Organizational Chart that shows the positions that will need to be filled. THERE WILL ONLY BE TWO POSITIONS. MANAGING PARTNERS- ROWENA Thornton & ERIC BALL
o How fast do you plan to grow? PLAN TO BE ABLE TO DO 2 AUDITS A MONTH WITHIN 6 MONTHS
o Where is your company based? Where does it or where will it do business? COMPANY WILL BE FORMED IN North Carolina BUT BUSINESS WILL BE CONDUCTED ALL OVER THE US
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What is new and unique about your product or service?
o What customer needs or desires does it satisfy?
o What is the value proposition – i.e., why would someone buy your product or service? Include key resources and key activities.
SWOT ANALYSIS (Attached SWOT Template)
Explain the Strengths, Weaknesses, Opportunities, and Threats that affect your Business Plan, by answering the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT Template or the SWOT Worksheet providedin your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant
