Stretch ‘?r Wings, a start up company, makes medical interiors for helicopter pilots and hospital flight program operators. Stretch ‘r Wings will design thoughtful, complete, and cost-effective medical interior solutions and sub-contract some of the manufacturing.
Stretch ‘, Wings has identified and is pursuing four objectives to help them on the path to profitability. The FAA approval of Supplemental Type certification (STC), is the first objective. The second objective involves a preliminary prototype. Next, you will need to get approval from the parts manufacturer. Finally, a marketing campaign and plan must be developed.
Stretch ‘?r Wings will target hospital flight programs as well as aircraft operators in both the United States, and internationally. These segments have the highest potential market. These segments can be reached via Stretch ‘: Wings in many ways. Direct mailings, brochures, ecommerce, trade publications and demo units are just a few of the options. The main segments that will be targeted are the US market as a whole, international markets, and the military. All three segments show a 5-percent growth rate. 800 potential US customers, 300 in international and 100 in military markets are possible.
Stretch ‘?r Wings will use their competitive advantages, which are based primarily on product innovation/features and pricing competitiveness. The first edge is their use of an aluminum frame that creates a strong, light unit that is easily assembled. The next edge is a built in storage device, maximizing the precious available space. Stretch ‘?r Wings has a glide aid stretcher system, making it as easy as possible to get in and out. All Stretch’r Wings units can be compacted, efficient, as well as safe.
Stretch ‘ ;r Wings has put together a strong management team in order to implement their solid plan. Stretch ‘ ; Wings’ product designer is **. After a 20-year industrial design career, he has recently focused his designs on medical applications. His wife is a doctor. ** is our business head. ** will take over operations and strategic plan functions. He spent 17 years as Vice President, Operations, for a $45 million bicycle maker.
Stretch ‘’r Wings will be profitable by year one. Profits will continue to rise through year five. Year two sales are expected to be $230,000 with a growth rate of $634,000 by year five. Stretch ‘: Wings is an exciting company that creates innovative designs to fill a niche market need. It will be supervised by a team with experience.
**Names were removed to preserve confidentiality.
1.1 Objectives
These are the business goals for Stretch ‘’r Wings.
- Get STC approval by the FAA for eight of the most loved general aviation aircraft.
- Build a protype of a medical interior for FAA conformity inspection.
- After completion of the STC, Stretch ‘ ‘r Wings will obtain a Parts Manufacture Approval. (PMA).
- Make a marketing plan and develop sales literature. After several STCs approval, this step is implemented.
1.2 Mission
Stretch ‘: Wings intends develop and market an aircraft- and helicopter-friendly medical unit. This product will allow an owner/operator to fly regular passengers, or change to carry a patient. The medical unit can be described as a self contained life support system. It has an internal component with oxygen, vacuum, DC and AC electricity. Stretch ‘r Wings will develop, manufacture, and market this product.
Success keys 1.3
The aviation industry is tightly regulated and requires product conformity. Therefore, Stretch ‘ r Wings needs to get the FAA required STCs/PMAs. Although the company’’s staff has years of experience in completing STCs successfully, this process could be longer than planned which could negatively impact the company’s prospects.
Once products have been approved and marketed to customers, then the next step to success is strong marketing. Stretch ‘? is an excellent resource.
r Wings will be attending all major trade shows and publishing high-quality sales literature. It will also provide after-sales support to its clients.