Tonya McClendon designed and built several prototypes, as well as an elevated pet feeder model. She plans to invest at most $22,000 via a combination savings and loans. Additional funding is needed to protect her feeder components and design ideas as well to bring the products to markets. She plans to incorporate Tall Drink of Water as a New York-based subchapter S holding corporation to shield her from personal liability and double taxation.
Ms. McClendon intends to establish her product as a brand leader in the $34 billion pet products industry, which is experiencing steady growth, but it is fragmented with no clear brand leaders producing elevated feeders.
Ms. McClendon is a business manager, operator, and technical expert with experience in financial services, food service and architecture. She also has expertise in planning for Olympic events. She has a strong customer service and sales foundation and is comfortable working in environments ranging from small family businesses to Fortune 500 corporations. She can draw on a wide range of skills and experiences to launch the company.
Based on her research she is certain that a start-up pet product business that designs and produces innovative, contemporary elevated pet feeders for designers, pet care professionals and individual consumers will be able to succeed in the United States. This country has more than half the households with at least one pet cat or dog.
Based on the performance and potential growth of complementary products, sales forecasts for the first three year are modest. Projections for first year sales of $143,800 are expected. Then, sales will grow at 10% per annum over the next two, rising to $248.748 in the third year. Once the brand is established, sales are expected to rise dramatically.
* Based on preliminary patent searches on the U.S. Patent and Trademark Office website.
1.1 Objectives
- To become a leader in pet feeder market, with a significant share of the market at the end of the second-year of operation. This is based on:
- Innovative, functional and stunning elevated pet feeders
- Accessories and complementary pet products
- Products that are environmentally and socially responsible
- To increase sales by at minimum 10% in the first three year of operation.
- To achieve sales of $250,000 within the third year.
1.2 Mission
Tall Drink of Water designs, develops, and markets innovative, functional and beautiful elevated pet feeders and related pet products using methods and materials that are socially and environmentally responsible. You will find a positive and supportive work environment, with competitive benefits and compensation.
1.3 Keys to Success
Tall Drink of Water
- Develop functional, reliable, and beautiful products
- Give a competitive guarantee for your products
- Provide exceptional customer service
- Take part in pet industry and design communities
- Support animal rescue groups that train and foster humane treatment.
- Profits can be used for product development
- Promote pet safety & health