Fast Moving Truckers (TMT), is a company that provides inventive transportation arrangement, for trucks, by linking all the more effective coordinate shippers’ heaps with drivers and trucks through application-based calculations. In the long, the start-up company intends to develop a strong customer base, and its goal is to ensure it becomes one of the trusted truck tracking companies that satisfactorily meet the shippers’ needs. The company intends to develop a more innovative app (software) that would enable freight and shipping companies to meet the safety ratings and more than minimum legal requirements in terms of security and expertise in the provision of reliable deliveries. The app as well serves to helps both the truck owners and carriers companies who need truck drivers, given that the app links the drivers to truck owners and shipping companies.

2.1 Company Description.

Fast Moving Truckers (FMT) is a private company oriented business whose primary service is to provide fast-moving tracking support that links carrier companies with drivers by the use of application-based innovative techniques. The company shall maintain its legal and trading name as Fast Moving Truckers (FMT) and shall be officially be based in California. Since the company is a start-up, its management team and support staff shall all be based at its central business location. The company intends to target more on both low shippers and large freight companies in the provision of driver-truck tracking services.

2.2 Objectives.

Fast Moving Truckers’ (FMT) objective for the business plan is to become one of the largest trucking companies in the United States. Due to the continuous advancement of innovation in different industries, FMT intends to apply application based calculation to enable carrier companies that are deemed small and low in terms safety rankings, and security able to compete effectively with the large carriers. This shall eliminate the closed network that exists for only the large trusted carriers. This business will as well help both the truck owners and carriers’ companies who need truck drivers. Therefore, focusing on innovative ways to link companies with all the drivers throughout the nation supports the objective of aiming to provide a solution to the people owning trucks but are not able to get a job.

2.3 Mission and Vision Statement.

FMT’s mission is to provide excellent trucking services and tools for linking drivers with freight and shipping companies in a manner that is capable of fast-tracking every movement of drivers. The company maintains a vision of becoming the leading trucking company servicing the United States.

2.4 Target Market.

The company’s primary targets are the shippers and drivers of trucks; essentially, the company targets the freight industry as its market for the technology. The start-up company intends to consider contracting private carriers, small shipping, and large shipping companies.

3.1 Products and Services.

3.2 Product description.

FMT’s main product is the app-based calculation technology that shall be developed by its contracted software developers, who shall maintain its functionality to clients (shippers and drivers). The technology shall provide real-time linkage between the driver and the shipping company enabling high safety and security ratings. This shall not only be limited to existing drivers of the shipping companies but also assist in truck owners to find potential drivers.

3.3 Product Competitiveness.

The app based technology for tracking and linking the driver with the shippers shall be patented to give the company ownership rights. The company shall seek exclusive rights from shipping and companies in much more friendly terms than the competitors. The tracking technology maintains its competitiveness by the possession of monitoring techniques with applicability that can track every movement of drivers.

3.4 Product pricing.

Given that most of the competitors in the industry are offering their technology integration systems at a high-end pricing level. The FMT company intends to take advantage of the low career companies and private truck owners who would much appreciate lower pricing for the service. Thus the company intends to sell the software rights at lower prices than the competitors in terms of the overall leasing, subscription amount, or full product usage right fee. Our pricing strategy aims to attract customers from the sense that the pricing is averagely mid-range compared to available competitors in the market and that the software rights for tracking services for drivers and trucks to be offered in three possible levels. The levels shall depend with the financial capability of the client, that is, full rights to the tracking service, period-based leasing, or activity-based subscription where the carrier contracts to for the software per single linkage. N/B: The prices are provided in the financial section.

4.1 Marketing Plan.

4.2 Marketing Research.

Given the global market need for tracking systems that have been estimated to reach $14,957.5 million by 2025, from $3,795.0 million in 2017, FMT company believes in the potential of the business. The company intends to leverage on tracking drivers and trucks by shipping companies as well as linking the drivers with the truck owners, an area of specialty that has so far been ventured by few competitors. The newness of the technology intends to contribute greatly to the success of the company. This is to means that the total size of the industry is small, and the trends are growing given the need. From the available research information, the company intends to raise its market share to 10% by the end of its first year of commencement. In the long run, particularly in five years of operation, the company aims to be controlling more than 50% of the market share.

4.3 Barriers to Entry.

The driver-truck tracking business has been identified to possess several barriers as resulted from market research. The primary barriers that the company prioritizes are the software development costs, the marketing costs, the need for specialized technology or patents, and tariffs and quotas in association with regulations pertaining to data mining and management concerns such as privacy issues.

5.1 FMT SWOT Analysis.

5.2 Strengths.

The tracking product is app-based in nature, providing easy access to drivers since they are able to get notifications on the available trucks and the location in time. The app is integrated with the GPS system that facilitates easy tracking of the shipment by careers, trucks by truck owners, and the driver can also be notified of the change in location or delivery point with clarity. The technology offers many services over the phone at the comfort of the user. Also, loss prevention usefulness adds up as a strength of the product based on the IoT technology that makes it possible to associate a myriad of things that are installed with computing and network devices; the app-based tracker distinguishes itself with an extra advanced IoT integration that not only relies on the smartphone screen to find and identify its way but also integrated with audio and system that notifies in real-time.

5.3 Weaknesses.

The app based-system encounters shortcomings relating to privacy issues. Due to the likelihood that an individual may access information regarding the location of the driver since the app intends to connect the driver to any available truck owner, or shipping company. Also, chances of misdirection also stand out as potential weaknesses of the system. For that matter, a continuous updating of direction using an azimuth calculation module that updates the direction periodically by utilizing a 3-axis electronic compass sensors serves to mitigate the weakness to avoid misdirection of the driver or the truck owner.

5.4 Opportunities.

With the increasing demand for products based on the IoT environment, the app technology stands a chance to capture the market need. In doing so, the product intends to take advantage of some of the large carriers wanting to do business with a closed network of trusted carriers who may have more than the legal minimum insurance. Thus, drivers with sterling safety records, and expertise in special areas like refrigerated shipping and can be counted on to deliver reliably. The company would serve as their connector between the available trucks with private truck owners as well as these highly coveted large shipping companies.

With the growing use of the internet and social media, the use of digital marketing strategies will also shed more light on the adoption of the product. There is also a chance to be captured for massive growth of the product awareness and accessibility via the internet; these chances constitute the use of social media optimization and search engine optimization for creating awareness of the app-based calculator that links drivers and trucks.

5.5 Threats.

The product encounters external negativities or threats such as constant shifts of the market requirements that seem much tremendous on technological products; threats of change in technology. Also, competitors’ reactions to the product necessitate a continual improvement to stay afloat, a development situation that calls for constant market research and development. Possible new market entries, too, pose threats to the app tracking technology.

6.1 Marketing Objectives.

The marketing objectives of the app tracking technology is to create awareness within and beyond about the uniqueness, cost-effectiveness, and usability of the tracker that will enable the company gains a higher market share for the new product by 10 % at the end of its first year and 50% after 5 years. Generally, the marketing strategies intend to encompass; penetration pricing approaches, extensive advertisements, expansion of distribution among others to raise the sales revenues, and foster growth rate.

7.1 Operations Plan.

7.2 App Development.

The development and maintenance of the tracking software shall be performed by contracted skilled and experienced software developers who shall become part of the company’s technical staff. The company intends to contract network companies like Google for database management, i.e., servers for cloud computing technology effectiveness. Though this might be costly, it stands out as cheaper than maintaining our own servers. Also, contracting Google for cloud computing services would serve to promote the privacy of the app, and the drivers and truck owners’ information would be safe.

7.3 Quality Control.

To maintain consistency and effective app use, the technical team shall constantly carry out an Information system audit of the app, to ensure its standards are up to date and any likelihood of a breach is noticed in time.

7.4 Location.

As mentioned, the FMT company Shall be located in California. Given the fact that the company is a start-up, it intends to begin within a small location that consists of one floor with offices for the management team, a technical team, and a few support staff. The location serves well for perfect accessibility, given that the target markets are drivers and truck owners who rely on the shipping companies in the region. For a start, the company shall restrict its (operation scope) to one state before expansion to other potential areas, which shall obviously require extra financing.

7.5 Legal Environment.

Given that the company focusses on the application of data managing software, it is prepared to face legal concerns relating to data privacy. As such, the company has to prepare privacy policy and allocate many efforts on ensuring that the application does not fall out of the legal privacy requirements. Government regulations, as well as taxation, have to be considered.

8.1 Management and Organization.

Fast Moving Trackers (FMT), shall be registered under companies act as a private company. The management of the organization shall comprise of the Chief Operating Officer, who shall be served with one general manager from whom one IT manager, One financial manager, and an operations manager report to. Under the IT manager are the IT engineers (Technical staff), under the financial manager, there shall be an accountant. The operations manager’s office shall be served with three support staff, a secretary (Receptionist), a janitor, and a security officer. The organization’s management chart shall take the format of;

9.1 Financial Plan.

FMT Estimated Cost Start-up Costs.
List of Costs	Current Year 2020	2021	2022	2023	2024
Research & Development costs	$ 100,000	$ 20,000	$ 2,000	$ 15,000	$ 15,000
Investigative costs	$ 250,000	$ 50,000	$ 25,000	$ 25,000	$ 25,000
Software Development costs	$ 750,000	$ 15,000	$ 15,000	$ 15,000	$ 15,000
Legal Costs	$ 45,000	$30,000	$30,000	$30,000	$30,000
Marketing Costs	$ 120,000	$ 180,000	$ 175,000	$ 175,000	$ 175,000
General Costs	$ 100,000	$ 60,000	$ 40,000	$ 40,000	$ 40,000
Total Costs	$1,365,000.00	$355,000.00	$305,000.00	$300,000.00	$300,000.00

The financial information regarding Fast Moving Truckers are given in aspects of costs estimation and projections, revenues collections and projections, and a forecasted income statement.

9.2 FMT Estimated Start-up Costs.

The company is expected to incur much of its costs in its first year of operation. From the second year, costs are expected to lower significantly, given the fact that much of the costs regarding installation and development are incurred once, the subsequent costs represent maintenance costs. However, marketing cost is expected to rise even after the first year of operation; this is because of the increasing need to acquire higher marketing share and gain the trust of customers.

9.3 FMT Estimated and Forecasted Sales.

FMT Estimated and Forecasted Sales.

2020

2021

2022

2023

2024

Company Sales per year (Units)

$ 1,509,600

$ 1,959,200

$ 2,039, 200

$2,075,200

$ 2,142,000

However, the sales revenue is expected to grow as well, and thus more operating profits are expected to be realized over the years, given the significant reduction in the annual incurrence of costs.

9.4 The forecasted Statement of Financial Position.

The forecasted Statement of Financial Position.
	2020	2021	2022	2023	2024
Sales Revenue	$ 1,509,600	$ 1,959,200	$ 2,039, 200	$2,075,200	$ 2,142,000
Variable costs	144,000	428,800	579,200	610,400	644,000
Fixed Costs	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
Profits	365,600	530,400	460,000	464,800	498,000
Cumulative profits	365,600	896,000	1,356,000	1,820,800	2,318,800

FAST MOVING TRUCKERS (FMT).

Table of Content.

1.1 Executive Summary.