Independent Mobility Scooters LLC
Business Plan
Owner and CEO:
Ms. Naomi L Johnson
Business Plan
1. Executive Summary
Independent Mobility Scooters LLC (hereafter also referred to as the Company) will be a newly established firm located in Tucson, Arizona. The Company will operate within the Mobility Scooters Industry in the U.S. offering high-quality mobility scooters and related services through its retail store. Independent Mobility Scooters LLC will primarily focus on disabled individuals and disabled veterans by providing its products at competitive prices in tis local area and beyond.
Independent Mobility Scooters LLC will be fully-owned by Ms. Naomi L Johnson, who will serve as the Owner and the Chief Executive Officer of the Company. In addition to its CEO, Independent Mobility Scooters LLC will also hire several other employees, reaching a total of five employees and by the end of Year 5.1
After conducting extensive analysis of the Company’s potential, Ms. Naomi L Johnson has decided to offer its high-quality mobility scooters at competitive rates, and turn the Company into a highly profitable business establishment in the process.
The Company has developed a detailed strategic plan with clear milestones that will take Independent Mobility Scooters LLC from its current position, to one of the most important mobility scooter stores in its local area.
As presented in the Industry Analysis section of this business plan Independent Mobility Scooters LLC will operate in an expanding industry, with a continuously increasing number of potential customers. The increased need for professional mobility scooters in the U.S., as well as increases in disposable income and the growing elderly population and population of people with limited mobility are expected to drive the demand growth over the next five years.
Moreover, the expanding number of customers will increase the potential market share for the Company, providing Independent Mobility Scooters LLC with growth and expansion opportunities in the future.
Furthermore, the Market Analysis section will show favorable conditions, indicating that Independent Mobility Scooters LLC is making its business move at the right time. The increasing need for mobility scooters in the U.S., will drive the market over the next several years, offering new market entrants the opportunity to establish their dominance, build new brands, and capture a significant portion of the market.
The Company will face low number of direct and indirect competitors in its area, and the highly fragmented market will ensure Independent Mobility Scooters LLC has the opportunity to capture a significant part of its designated market.
The Company is expected to achieve $495,000 in revenue in Year 1, and the revenue is expected to grow to $1.036.456 by the end of Year 5.
The Company’s professional team, well-developed strategy, and favorable conditions in the U.S. market make Independent Mobility Scooters LLC an exceptional investment opportunity and potentially highly profitable establishment.
Year 1
Address
Employees: Locations: Revenue: Income Tax: Net Profit:
Year 5
3
1 $537,075 $12,728 $29,699
5
1 $1,124,554 $57,432 $134,009
Employees: Locations: Revenue: Income Tax: Net Profit:
1 Year 1 is calculated from the moment the Company starts implementing its business plan
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2 Company Description
As previously mentioned, Independent Mobility Scooters LLC will be a new business that is excited to bring high-quality mobility scooters to the disabled community in Tucson, Arizona. The Company's focus will be on empowering disabled individuals and disabled veterans with more independence and freedom to do the things they couldn’t before. Independent Mobility Scooters LLC will understand the unique needs of their clients and aim to provide solutions that cater to those needs.
The mobility scooters that Independent Mobility Scooters LLC will sell are all-terrain, with the ability to travel off-road and at a speed that is safer to move. These scooters are designed to allow disabled individuals to go places they could not before and do so with ease. The Company will also sell other mobility devices to allow for even more mobility.
One of the main goals of Independent Mobility Scooters LLC will to make these scooters affordable and accessible to everyone who needs them. The Company understands that many disabled individuals may not have the financial means to purchase expensive mobility equipment, which is why Independent Mobility Scooters LLC will be committed to offering competitive pricing. Additionally, the Company will offer a trade-in program, where customers can bring in their old scooters to be upgraded for a more advanced model.
Independent Mobility Scooters LLC recognizes that there is very little to no competition in its area. As such, the Com- pany is eager to fill this gap and provide the disabled com- munity in Tucson with the resources and guidance they need. The primary target market for Independent Mobility Scooters LLC will be disabled individuals and disabled veterans, who will benefit greatly from the Company's products and services.
The Company’s mission will be to provide affordable and high-quality mobility scooters that cater to disabled individuals and veterans, empowering them with greater independence and freedom to live their lives to the fullest. Independent Mobility Scooters LLC will be committed to delivering exceptional customer service and support, and to continuously improving its products and services to meet the evolving needs of its customers.
The Company's vision is to have a physical shop in Tucson where disabled individuals can come and try out the mobil- ity scooters and other devices for themselves. The shop will also provide clients with the guidance they need to choose the right product for their specific needs. Independent Mobility Scooters LLC will be committed to being a trusted and reliable source for mobility equipment in Tucson, and
look forward to serving the disabled community for many years to come.
The Company will aim to achieve its mission and vision by identifying and continuously meeting client needs through research and direct inquiries, on a regular basis. Independ- ent Mobility Scooters LLC will regularly measure the progress towards achieving its mission and vision, by com- paring its current market position with its full potential.
Independent Mobility Scooters LLC will value community involvement and aim to stimulate job growth by creating employment opportunities in the community. The Com- pany will be committed to building a strong presence on online platforms and engaging with customers through social media, blogs, and other interactive channels.
By fostering a community of support, Independent Mobil- ity Scooters LLC will seek to create a safe and inclusive space where potential customers can share their experi- ences and receive the support they need.
Furthermore, the Company will be transparent and profes- sional in its daily operations. Independent Mobility Scoot- ers LLC will primarily focus on optimizing and personalizing the experience of its customers, by continuously research- ing new products it can include in its offer, while delivering excellent, quality-oriented customer service.
This is why, the Company will instruct its future contractors and employees on how to deal with customer on a daily basis in order to secure high levels of customer satisfaction. This strategy will provide Independent Mobility Scooters LLC with much needed word-of-mouth marketing and increased referral rates, further expanding its potential market.
The Company plans to rely on both online and offline marketing activities to reach new clients. Independent Mobility Scooters LLC will conduct additional market research in order to identify and connect with the best industry professionals and further improve the quality of its work, as well as leverage professional experience of its future partners to ensure the success of its daily operations.
3 Location Analysis
The Company will be located at 3674 s Manitoba Avenue, Tucson AZ 85730. Before making a final decision on the Company’s location, Independent Mobility Scooters LLC took into account several key parameters, such as the distribution of its potential customers, partners, and competitors, as well as other important inputs such as market saturation, price levels, and the level of demand.
Tucson, Arizona, is an ideal location for a mobility scooters store due to several factors. Firstly, Tucson is home to a large population of retired individuals, many of whom have mobility limitations due to age or disability.
According to the U.S. Census Bureau, in 2019, 16.5% of Tucson’s population was aged 65 or older, making it an ideal market for mobility scooters and related products. Additionally, Tucson is a popular retirement destination, with many retirees choosing to relocate to the area each year.
Another reason is the city’s warm and dry climate. This makes it an attractive location for seniors and individuals with mobility limitations who may find it difficult to navigate slippery or snowy conditions. With its mild winters and abundant sunshine, Tucson offers a conducive environment for year-round outdoor activities, making mobility scooters an essential tool for those who want to enjoy the city's offerings.
Furthermore, Tucson is a hub for healthcare services in Southern Arizona, which makes it an ideal location for a mobility scooters store. The city is home to several hospitals, rehabilitation centers, and other healthcare providers, making it easy for individuals with mobility issues to access medical care and related services. This also provides opportunities for the mobility scooter store to partner with healthcare providers and offer their products and services to a broader customer base.
Furthermore, Tucson is a vibrant and diverse city that is home to individuals from different backgrounds and with various interests. This makes it an excellent location for a mobility scooters store, as it can cater to a diverse customer base with different mobility needs.
The store can offer a wide range of products, including portable and travel scooters, power wheelchairs, lift chairs, and other mobility aids, to cater to the varying needs of customers.
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4 Industry Analysis
4.1 Mobility Scooters Industry in the U.S. – Overview and Outlook
According to Fortune Business Insights,2 the mobility scooter industry involves the design, manufacturing, or retailing of motorized scooters that aid individuals with mobility impairments. Mobility scooters are battery-powered and typically feature a seat, steering tiller, and a platform for the user's feet. They provide a convenient and accessible means of transportation for individuals who have difficulty walking or standing for extended periods. The industry also includes the production of various accessories and replacement parts for mobility scooters, as well as repair and maintenance services.
The mobility scooter industry has experienced significant growth in the past several years, driven by several factors. The aging population has increased demand for mobility aids, including scooters, as individuals seek to maintain their independence and mobility. Additionally, advance- ments in technology have led to the development of more advanced and reliable mobility scooters with longer battery life, improved safety features, and greater comfort.
These factors have resulted in an expansion of the market, with new companies entering the industry and established players investing in research and development to stay com- petitive. The positive outlook for the mobility scooter industry is expected to continue as more individuals seek to improve their quality of life through enhanced mobility and accessibility.
As society becomes more inclusive and accessible, the demand for mobility aids and assistive devices such as mobility scooters is set to increase significantly. The disabled population is a growing demographic, and mobil- ity scooters offer a way to enhance their independence and quality of life.
In addition, the ongoing technological advancements are expected to revolutionize the mobility scooter industry. The development of more advanced and efficient batteries, the incorporation of artificial intelligence and IoT technolo- gies, and the use of lighter and more durable materials are among the many areas of innovation that hold great prom- ise for the industry.
As companies continue to invest in research and develop- ment, the mobility scooter market is likely to experience continued growth and expansion. With the right strategies and investments, companies in the mobility scooter indus- try can look forward to a bright future filled with opportuni- ties for growth and innovation.
Mobility Scooter Industry Size in the United States by Revenue in 2023 and 2028
$2.1 billion $1.9 billion $1.7 billion $1.5 billion $1.3 billion
$0
$2.8 billion $2.6 billion $2.4 billion $2.2 billion $2.0 billion
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Mobility Scooter Industry Size in the United States by Revenue in 2017 and 2022
2017 2022
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The outlook for the mobility scooter industry remains highly positive, with the growing awareness and increasing importance of disability rights expected to drive the market growth.
2 https://bit.ly/43g9yMc
3 https://bit.ly/3MwuWXw
According to Allied Market Research, the industry has shown strong results in the past several years with its revenues rising from $1.3 billion in 2017 to $1.9 billion in 2022.
2023 2028
According to the same source the industry revenue is expected to rise from projected $2.0 billion in 2023 to $2.8 billion in 2028.
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Conclusion
As the statistics mentioned above show, the Mobility Scooter Industry has achieved strong growth over the past several years across all segments and is projected to grow even further by 2028, indicating a strong need for the industry’s prod- ucts among customers.
The Company’s products are well-desired within the industry and bring real life value to potential customers. Overall, the time is right for joining the industry, as niche markets and a growing demand are expected to lower the barriers for entry.
5 Market Analysis 5.1 Market Conditions
According to Mordor Intelligence, The personal mobility devices market is expected to register a CAGR (compound annual growth rate) of nearly 5.85% during the forecast period, 2022-2027.
Many people with chronic conditions or people with physical disabilities were not able to follow the guidelines and proce- dures to reduce the spread of COVID-19. For example, complete isolation may not have be possible for a person with a disability because they needed help from assistants or caregivers.
Furthermore, the major factors contributing to the growth of the market are the increasing number of disability cases due to the growing elderly population, an increasing number of road accidents, spinal cord injuries, and other conditions.
According to the revised World Population Prospects by the United Nations 2020, the number of people aged 60 years or above is expected to grow more than double by 2050, from 962 million in 2015 to 2.1 billion by 2050 worldwide. This age group is at high risk for various age-related illnesses, which require the help of personal mobility. According to the same source, currently, about 10% of the world's population, or nearly 650 million people, are living with a disability.
Moreover, an estimated 25.5 million Americans have disabilities, which makes traveling outside the home difficult for them. Continuous evolution and advancement in personal mobility devices have taken place for centuries.
Wheelchairs have more robust wheel design and movement capabilities, and the following models continuously shift toward weight reduction and increased maneuverability and performance. There are many companies that offer advanced technological wheelchairs.
Growing research and development programs by key players to solve issues and develop products are expected to propel the growth of the market in the coming years.
North America is expected to dominate the overall personal mobility devices market throughout the forecast period. Due to the increasing geriatric population who are more prone to mobility disorders, such as osteoporosis, rheumatoid arthri- tis, etc., the need for mobility aids has been on the rise in North America.
The United States and Canada are the major contributor to the regional market. The supportive government initiatives that reduce the burden of the high cost of the devices, combined with growing reimbursement policies, have resulted in a high-volume usage of personal mobility devices.
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In Ontario, Canada, the Department of Health and Long-Term Care provides support and funding to Ontario residents with a long-term disabilities under the Assistive Devices Program (ADP). The program offers to cover the cost of items, such as wheelchairs, walkers, mobility scooters, and specialized seating items.
Key Success Factors
Product Quality and Selection: A key success factor for a mobility scooter store is offering high-quality products with a wide selection of options to meet the diverse needs of customers. Mobility scooters should be reliable, durable, and easy to use. The store should offer a range of models to accommodate different body types, mobility needs, and personal preferences. By providing customers with quality products and a wide selection, the store can build a reputation for excel- lence and attract repeat business.
Customer Service and Support: Excellent customer service is crucial for a mobility scooter store to succeed. Customers who are purchasing mobility scooters often have specific needs and concerns, and it's essential to have knowledgeable staff who can assist them in selecting the right scooter and provide ongoing support.
This includes offering demonstrations and test drives, providing repair and maintenance services, and assisting customers with navigating the insurance process. Exceptional customer service can lead to positive word-of-mouth referrals and help to establish the store as a trusted resource for customers.
Marketing and Promotion: Effective marketing and promotion are critical for a mobility scooter store to attract and retain customers. This includes creating a strong online presence, utilizing social media, and hosting events to showcase products and services.
The store can also partner with local healthcare providers, disability organizations, and other relevant groups to expand its reach and build credibility. By investing in marketing and promotion, the store can build brand awareness and attract new customers, leading to increased sales and growth.
Business Plan
5.2 Market Segmentation
In order to better understand its market, the Company
has analysed the segmentation of customers by looking
at the type of the potential customers requiring mobility
aid vehicles in the United States. This segmentation will
help Independent Mobility Scooters LLC decide on a
proper market targeting using different online and offline 30% campaigns as well as to make future decisions on intro-
ducing new products to the market or addressing specific segments.
Seniors (50%) - Seniors are a major market segment for mobility scooters. As the aging population continues to grow, so does the demand for mobility aids. Seniors are more likely to experience mobility issues due to age-related conditions such as arthritis, and mobility scooters offer a convenient and accessible means of transportation. This segment is likely to be attracted to scooters that are easy to operate and provide a comfortable ride, with features such as adjustable seats and handlebars.
Individuals with Disabilities (30%) - Individuals with disabilities, such as spinal cord injuries or muscular dystrophy, are another significant market segment for mobility scooters. They may require a scooter that can accommodate their specific mobility needs, such as a higher weight capacity or more advanced control systems. This segment may also be interested in accessories and customization options, such as specialized seating and storage options.
Active Lifestyle (20%) - The active lifestyle segment includes individuals who may only have partial mobility issues but are looking for a convenient and eco-friendly means of transportation. This segment may be attracted to smaller and more lightweight scooters that are easy to transport, with features such as foldable frames and removable batteries. They may also be interested in scooters with long battery life, which allows for extended use without the need for recharging.
5.3 SWOT Analysis
STRENGTHS
The Company will have highly-experienced owner
The Company will maintain an unmatched level of customer service
Flexibility and responsiveness to customer needs
Efficient use of technology to optimize operations and improve customer service.
WEAKNESSES
Need to deply multiple marketing strategies to expand its online presence
20%
50%
Seniors
Individuals with Disabilities Active Lifestyle
SWOT
Strong projected growth of the market in the future
Possibility of expanding operations in the future to include new locations or additional products
Underserved market with an increasing demand
OPPORTUNITIES
Industry has some already established competitiors
THREATS
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6 Competitive Analysis 6.1 Competitive Environment
The competitive environment in the mobility scooter market is relatively fragmented, with numerous players operating in both the online and offline spaces. In addition to direct competition from other mobility scooter retailers, the market also faces competition from alternative forms of mobility aids such as power wheelchairs and electric bicycles.
To compete effectively in this environment, mobility scooter stores must focus on differentiating themselves through factors such as product quality, customer service, and marketing strategies. Those that can successfully build brand recog- nition and loyalty through these means will be better positioned to succeed in this competitive landscape.
According to Westfield Insurance,5 companies operating in the same industry as Independent Mobility Scooters LLC make an annual average revenue of $720,692 in Tucson, which is just below the average revenue of $836,454 for Tucson metro- politan area, and below the state average of $1,071,500. The national average revenue for these establishments is $996,401.
5 https://bit.ly/2H421Kz
Business Plan
According to the same source, revenue of establishments operating in the same industry as Independent Mobility Scoot- ers LLC, and in the Company’s area ranges between $540,000 million and $1.4 million. Considering that the Company’s revenue is expected to fall within the above mentioned range in the first five years of operations (Section 9, Subsection 2), its financial projections are considered viable and achievable.
6.2 Key Competitors
After conducting extensive market research, the Company has identified some of its main competitors including Power Mobility & Lifts, AZ Lifts 4 Less, and Arizona Mobility Scooters. Although these competitors are not geographically close to the Company, their operations can still affect the Company’s digital marketing efforts.
Power Mobility & Lifts
Power Mobility & Lifts is a locally owned and operated full-service power mobility equipment provider, serving the Metro Phoenix area. The company offers a wide range of mobility aids for rent, sale, and service, including mobility scooters, power wheelchairs, lift chairs, vehicle lifts, and much more. With a commitment to understanding each client's unique needs and providing affordable and reliable solutions, Power Mobility & Lifts is dedicated to delivering excellent value and performance. The company prides itself on providing exceptional after-sale service, including warranty and parts support for the life of its products. Customers can visit the showroom in downtown Phoenix or receive service throughout Phoenix and Arizona, with annual service available through a network of providers in other states.
The company maintains a modern website at powerandmobility.com, which has a DR of 8/100 and is supported by 192 referring domains. Power Mobility & Lifts has only 11 estimated monthly visitors and can easily be outranked in search engines by creating a simple but well maintained content marketing strategy via blog or online magazine.
AZ Lifts 4 Less
AZ Lifts 4 Less - Mobility Scooters and Power Chairs is a family-owned business with over 50 years of combined experience, located in Mesa, AZ. The company takes pride in being a full-service power mobility provider, offering a wide range of products including scooters, power wheelchairs, lift chairs, vehicle lifts, and bathroom safety equipment. AZ Lifts 4 Less is committed to providing timely repairs and exceptional customer service, with pick-up and delivery services available. Customers can have peace of mind knowing that all products are backed by new and used warranties, and the company also accepts trade-ins. AZ Lifts 4 Less strives to meet all mobility needs at their wheelchair store in Mesa, with no compro- mises on quality.
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AZ Lifts 4 Less maintains a simple and outdated website at az-lifts4less.com. With the DR (domain rating) of 0/100 supported by only 13 unique referring domains, the website can be outranked using simple content marketing tech- niques and 15 inbound links.
Arizona Mobility Scooters
Arizona Mobility Scooters is a company that is dedicated to helping people maintain their active lifestyle by providing them with mobility solutions that allow them to rediscover their independence. They believe that regardless of health concerns, everyone should have the freedom to move around freely. Their electric scooters are designed to offer a smooth, quiet, and relaxing ride. Arizona Mobility Scooters is committed to providing their clients with mobility solutions that are stylish, practical, and affordable, allowing them to go wherever they want, whenever they want.
Arizona Mobility Scooters also maintains a simple and outdated website at arizonamobilityscooters.com. The company’s DR is only 0.1/100 indicating that Arizona Mobility Scooters is not investing a lot in its online marketing activities.
Conclusion
After analyzing some of its most important online competitors, the Company can conclude that ranking on top of the SERP (search engine result pages) will be an easy task. A websites with an integrated blog and small investments into link build- ing activities should be enough for Independent Mobility Scooters LLC to outrank its main competitors and benefit from the organic search traffic. Building online authority in such way will also expand the brand awareness and result in an increasing conversion rates.
6.3 Competitive Advantages
Personalized Approach
Personalized approach to work, especially in retail related industries has a key role in client retention and increased referral rates. The Company will create standard operating procedures and instruct employees on how to deal with customers, as well as how to approach work to provide highly customized services on a daily basis.
The Company will regularly conduct inquiries in order to identify client preferences, and search for ways to fulfill the client’s needs in the most personalized way possible. Independent Mobility Scooters LLC will adapt its offering in accord- ance with all market demands, ensuring the success of its operations. This strategy will help the Company win its position in the market, as well as secure high rates of client referrals and word-of-mouth marketing. The Company’s regular research will help Independent Mobility Scooters LLC expend its product range and provide only high-in-demand prod- ucts, reducing operating costs in the process.
Flexibility
The ability to be flexible and adapt quickly to changing market conditions is increasingly becoming a competitive advan- tage for businesses. As previously mentioned, being the small business, and being able to pivot and shift quickly to customer needs can provide a significant advantage over larger corporate chains.
In today's fast-paced business environment, being nimble and agile in response to customer demands can make a signifi- cant difference in retaining and attracting customers. Moreover, with the increasing speed of technological advancements and changing customer preferences, businesses need to be able to adjust their strategies and operations to remain com- petitive. By being flexible and responsive, small businesses can develop a reputation for superior customer service and establish a loyal customer base that may not be as loyal to larger chains.
Furthermore, flexibility can also help businesses to stay ahead of the curve by anticipating changes in the market and proactively responding to them. For small businesses that have industry experience and expertise, this advantage can be further leveraged. By leveraging their deep knowledge of the industry, small businesses can anticipate and respond to changes faster, making them more agile and competitive.
7 Marketing Plan
7.1 Website
Independent Mobility Scooters LLC will develop and maintain a modern, user-friendly website. The Company is in the process of selecting the best website theme, such as one below, for its operations, and implementing the best SEO prac- tices and ensuring high-levels of the overall website health. The Company is exploring websites such as themeforest.com to find the most suitable website template.
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Independent Mobility Scooters LLC will further adapt its website according to the market demands, as well as conduct all the necessary Search Engine Optimization activities in order to ensure the best website rankings on Google and other browsers.
Proper Search Engine Optimization will ensure a continuous stream of organic visitors to the website. Additionally, the Company will dedicate a part of its budget for digital marketing such as Google Ads, targeting its potential market by taking into account the geographical distribution of customers, the most popular keywords and search terms, as well as current, in-demand online content and popular trends.
The Company will negotiate with local businesses, influencers, and potential partners, and ask them to include inbound links towards the Company’s website, increasing its domain authority and domain ranking by strengthening the Company’s backlink profile and increasing the organic traffic in the process. Independent Mobility Scooters LLC will also make sure its website theme is optimized for mobile devices, is fast to load, and does not include broken links, which will further increase its SERP rank.
Independent Mobility Scooters LLC will use pop ups below the fold, ensuring the best possible user experience for its web- site visitors. In order to collect email addresses the Company will rely on ConvertKit platform, which will allow it to send promotional emails, updates, and newsletters with ease, keep track of leads, and automate the reach-out process.
Furthermore, Independent Mobility Scooters LLC will monitor changes in traffic before and after using the paid advertis- ing. By analyzing reach and frequency data for campaigns, the Company will better understand how many people were shown ads and how frequently the same people saw them over a certain period of time.
This strategy will help the Company focus on reinforcing the message or on reaching new potential clients, and this infor- mation will help get a clearer picture of how the Company is meeting its online reach goals. In order to use the full advan- tage of its digital marketing campaigns the Company will rely on carefully selected keywords/phrases.
7.2 Keyword/Phrase Analysis
The Company has conducted extensive market research and identified several keywords and phrases that showed high search frequency in the previous four years. These keywords and phrases are closely related to the Company’s operations and will be used in digital marketing campaigns on both social media platforms, and third-party websites. The following charts show the search frequency for keywords and phrases such as mobility scooter, mobility aid, and mobility scooter for adults.
The keyword/phrase mobility scooter shows a high search frequency trend in previous years. The Company will use this phrase to optimize its website and social media activities, as well as to create comprehensive digital marketing campaigns.
The keyword/phrase mobility aid also shows a high search frequency trend in previous years, and will be an important part of the Company’s SEO activities.
The keyword/phrase mobility scooter for adults shows a high search frequency trend in previous years as well, and will also be an important part of the Company’s SEO activities.
7.3 Social Media Plan
Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. Social media is also one of the most profitable digital marketing tools that can be used to increase business visibility. Applying a social media strategy will significantly help the Company to increase its brand recognition. According to Digital Doughnut, by spending only a few hours per week, over 91% marketers claimed that their social marketing efforts greatly increased their brand visibility and heightened user experi- ence.
Additionally, social media marketing is possibly the most cost-effective way to advertise. Creating an account and signing up is free for almost all social networking platforms.
The Company will maintain professional social media accounts on platforms such as Facebook and Instagram. These accounts will be of utmost importance for the Company’s digital marketing strategy. Independent Mobility Scooters LLC will also dedicate a part of its budget for social media advertising.
The Company will rely on the most popular keywords and location tags to reach its potential customers, as well as create visually attractive content in order to encourage reposts, comments, and content sharing.
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Independent Mobility Scooters LLC will dedicate a monthly budget for social media advertising, focusing primarily on Facebook and Instagram ads. The Company will alternate between two social media platforms placing ads on Facebook in the first month of the year, and switching to Instagram in the second month. Independent Mobility Scooters LLC will continue with this strategy throughout the year, measuring the response and the efficiency of each ad and each post, as well as adapting its campaign along the way. The Company will increase and decrease the advertising budget depending on results of its digital marketing campaigns.
In order to create its Instagram/Facebook campaign using Facebook Ads Manager, the Company will follow several key steps:
Step 1 – The Company will start by choosing a “Brand Awareness” campaign option.
Step 2 - Independent Mobility Scooters LLC will name its campaign
Step 3 – The Company will select its target audience by including its geographic area on the map and selecting the proper radius to include its desired market. Since this is a brand awareness building campaign, the Company will primarily focus on its local environment, as gaining traction among potential partners as well as customers is of key importance for build- ing brand awareness. This step is one of the most important elements that will determine the Company’s advertising costs and the results of its ads.
Step 4 – Independent Mobility Scooters LLC will set up its ad placement by selecting both Instagram in the first month and Facebook News Feeds (Mobile and Desktop) in the second.
Step 5 – The Company will set up its marketing campaign budget and bidding in accordance with Facebook Ads Manager recommendations.
Step 6 – Independent Mobility Scooters LLC will create its promotional post using its high-quality videos and photos showcasing the Company’s capabilities and testimonials from satisfied customers.
7.4 Other Marketing Strategies
Independent Mobility Scooters LLC will also rely on other marketing strategies such as usage of print ads and influencer marketing. By relying on print ads, the Company will benefit from the advantages provided by traditional marketing. According to Outreach Media Group, some consumers trust print ads more than digital ads. The same source states that advertising in newspapers and magazines will tend to add credibility to a product or service, while an online pop-up ad will reduce the credibility.
Additionally, customers recall print ads better than digital ads. The Internet is cluttered and any given page may have dozens of links, ads, calls to action, and choices competing for customer’s attention. In a magazine or newspaper, readers still have distractions, but there are generally fewer of them, and they physically move through ads as they interact with the content. The Company will conduct an extensive market research in order to identify the best potential magazines for ad placement in Arizona and beyond.
Furthermore, integrating influencer marketing into the Company’s overall advertising strategy can boost the other form of digital marketing the Company uses. Beyond meeting immediate marketing goals, an influencer marketing strategy has the potential to improve the website’s search engine rankings and expands the reach even further.
It also increases brand awareness by driving more users to the Company’s website. The influencers promoting content about the mobility scooters offered by the Company, will also link it to the Company’s website from their social channels. Customers who seek information on social media will also use search engines during their decision-making process.
The power of influencers lies in the trust of their followers. The trust they build enables them to develop loyal fan followers. Influencer marketing allows brands to break into that circle of trust in a way that feels organic and welcomed because it is relevant, reliable, and relatable.
When an influencer shares their honest feedback about a particular product or a service, it is perceived as a genuine testi- monial, strengthening the brand’s reputation and reinforcing its credibility. This method also helps brands to win the trust of their audience, encouraging them to try their services and products.
Independent Mobility Scooters LLC will rely on third party websites such as www.heepsy.com to identify the best influenc- ers and key opinion leaders in its field, and establish long-term business relationships with those that offer the best organic user engagement at the most competitive price.
7.5 Marketing Goals
The Company has identified four main marketing goal categories, covering: brand, customers, media relations, and adver- tising.
Brand
The Company will aim to develop Independent Mobility Scooters LLC brand as a unique, one stop solution to acquiring high-quality mobility scooters. The Company plans to associate its brand with professionalism, personalization, and premium quality, enriching the brand experience for Independent Mobility Scooters LLC customers in the process.
Branding is important because not only is it what makes a memorable impression on customers, but it allows them to know what to expect from the Company. It is a way of distinguishing one’s offer from the competitors and clarifying what it is that makes Independent Mobility Scooters LLC the better choice. The brand will be built to be a true representation of what the Company is as a business, and how it should be perceived.
Clients
The Company will also aim to excite and reward its repeat customers, increasing their satisfaction in the process and secur- ing high levels of referrals and word-of-mouth marketing. Moreover, Independent Mobility Scooters LLC will extend the reach to local and national customers through joint partnerships, Key Opinion Leaders (KOL), and events.
Traditionally influencers have been used for their ability to build communities and engage consumers in a more personal way than brands can do on their own. Influencers understand their target audience on a personal level. They have built communities that trust them, and are fully engaged, creating close connections with consumers. The best influencers understand the line between what is authentic and what is fake, and they use it to their advantage. The Company’s engagement with influencers and Key Opinion Leaders will be of key importance for customer reach and engagement.
Media Relations
Media relations are an important part of every organization. The main goal of media relations is to maximize positive coverage of organizations, providing a clear voice in public discussions, and giving visibility about the field or the organi- zation.
Independent Mobility Scooters LLC will aim to educate the media on the brand’s vision and mission, increasing the brand awareness in the process and building relationships with its potential market based on trust and professional approach. The Company will also promote media interviews with Independent Mobility Scooters LLC founder, Ms. Naomi L Johnson, to heighten the brand’s credibility.
Business Plan
16
17
April, 2023
Advertising
Advertising is important for every aspect of a business. It plays an imperative role for both service providers and consumers. Advertising is important for the business on the whole as it lets the business gain more customers, thereby increasing business turnaround.
Advertising can be achieved using various media such as television, newspapers, radio, banners, pamphlets, websites etc. Each advertising media has its own pros and cons and one must evaluate all of them before selecting a particular media. The main thing that needs to be considered is that the advertising medium selected must be able to reach a large number of customers.
Independent Mobility Scooters LLC will aim to maintain the brand presence in online / offline environment and prominent social media platforms, increasing the number of followers with each new campaign. The Company will also focus its marketing spending on carefully selected touch points to maximize the advertising impact and PR value.
8 Personnel Plan 8.1 Employee Positions6
Owner and CEO: Ms. Naomi L Johnson
Ms. Naomi L Johnson will serve as the Owner and Chief Executive Officer of the Company. She will design and implement business strategies, plans, and procedures, set comprehensive goals for performance and growth, and establish policies that promote the company’s culture and vision. Ms. Naomi L Johnson will also oversee the daily operations of the Company, lead employees to encourage maximum performance and dedication, and evaluate performance by analyzing and interpreting data and metrics.
Ms. Naomi L Johnson will also develop high-quality business strategies and plans ensuring their alignment with short-term and long-term objectives; make high-quality investing decisions to advance the business and increase profits; review financial and non-financial reports; and build trust relations with key partners and stakeholders. She will also conduct all other sales and marketing-related activities, ensuring high rates of return-customers and referrals.
Store Manager
This employee will develop business strategies to raise the customers’ pool, expand store traffic and optimize profitability, meet sales goals by training, motivating, mentoring and providing feedback to sales staff, and ensure high levels of customer satisfaction through excellent service. The Store Manager will complete store administration and ensure compliance with policies and procedures, maintain outstanding store condition and visual merchandising standards, report on buying trends, customer needs, profits, and propose innovative ideas to increase market share. This employee will also conduct personnel performance appraisals to assess training needs and build career paths, deal with all issues that arise from staff or customers, and be an example of well behavior and high performance. The Store Manager will also conduct other store duties as needed.
Sales Representatives
These employees will present, promote and sell products to existing and prospective customers. Sales Representatives will perform cost-benefit and needs analysis of existing and potential customers to meet their needs. Duties of these employees will also include establishing, developing and maintaining positive business and customer relationships and reaching out to customer leads through calling. Sales Representatives will expedite the resolution of customer problems and complaints to maximize satisfaction.
6 Tools used to determine salaries: glassdoor.com, payscale.com, salaryexplorer.com
These employees will achieve agreed upon sales targets and outcomes and coordinate sales effort with team members and other departments. Sales Representatives will be responsible for analyzing the market’s potential, and tracking sales and status reports. These employees will also conduct all marketing related activities and manage the Company’s social media accounts and the website content.
Social Media Specialist
This employee will build and execute social media strategy through competitive research, platform determination, benchmarking, messaging, and audience identification, as well as generate, edit, publish and share daily content (original text, images, video or HTML) that builds meaningful connections and encourages community members to take action.
The Social Media Specialist will set up and optimize company pages within each platform to increase the visibility of the Company’s social content, moderate all user-generated content in line with the moderation policy for each community, as well as create editorial calendars. This employee will also continuously improve by capturing and analyzing the appropriate social data/metrics, insights and best practices, and then acting on the information.
Administrative Assistant
This employee will answer and direct phone calls and organize and schedule appointments. Administrative Assistant will be responsible for planning meetings and writing and distributing email, correspondence memos, letters, faxes and forms. This employee will assist in the preparation of regularly scheduled reports and development of filing system. Administrative Assistant will update and maintain office policies and procedures.
Duties of this employee will also include ordering office supplies and researching new deals and suppliers, as well as maintaining contact lists and booking travel arrangements. Administrative Assistant will submit and reconcile expense reports and provide general support to visitors.
This employee will also act as the point of contact for internal and external clients and liaise with other team members to handle requests and queries from senior managers, as well as organize trips and book travel arrangements.
8.2 Hiring Plan
Year
Year 1
Year 2 Year 3 Year 4
Job Position #
Owner and CEO: Ms. Naomi L Johnson 1 Store Manager 1 Sales Representative 1
Business Plan
Social Media Specialist
1
Sales Representative
1
Administrative Assistant
1
18
Owner and CEO: Ms. Naomi L Johnson
1
1
1
0
0
1
1
1
1
0
1
1
1
1
0
1
1
1
1
1
1
$45,000
$47,250
$49,613
$52,093
$35,000
$36,750
$38,588
$40,517
$0
$40,000
$42,000
$44,100
$0
$0
$0
$30,000
$45,000
$47,250
$49,613
$52,093
$35,000
$36,750
$38,588
$40,517
$0
$40,000
$42,000
$44,100
$0
$0
$0
$30,000
$140,000
$187,000
$196,350
$236,168
19
April, 2023
8.3 Payroll Expenses
Personnel Forecast
Store Manager
Sales Representatives Social Media Specialist Administrative Assistant
Salary per Position
Owner and CEO: Ms. Naomi L Johnson Store Manager
Sales Representatives
Social Media Specialist Administrative Assistant
Payroll Expenses
Owner and CEO: Ms. Naomi L Johnson Store Manager
Sales Representatives
Social Media Specialist Administrative Assistant
Total Payroll Expenses
9 Financial Plan
9.1 Financial Projections
Year 1
Year 1
$60,000
Year 1
$60,000
Year 2
Year 2
$63,000
Year 2
$63,000
Year 3
Year 3
$66,150
Year 3
$66,150
Year 4
Year 4
$69,458
Year 4
$69,458
Year 5
1 1 1 1
Year 5
$72,930 $54,698
$42,543
$46,305 $31,500
Year 5
$72,930 $54,698
$42,543
$46,305 $31,500
$247,976
Determining financial benchmark for specific services is not an easy task, as there is usually no real publically disclosed information that can be compared to the Company’s services. For the purposes of the business plan, and in order to deter- mine the cost structure benchmark for the Company’s Profit and Loss Projections, category data provided by statistical analysis and past performance of competitors is used. Additionally, for the purposes of the business plan, an increase of 5% annual in both expenses and salaries is projected to compensate for potential market fluctuations, inflation, and other unforeseen effects. Furthermore, Compound Annual Growth Rate (CAGR) of 15.9% is projected over the next five years.7
Loan Details
For the purposes of the business plan, the Company has used the projection and assumptions created by the NerdWallet tools. The loan assumptions are as follows:
Loan Amount: $100,000
Interest Rate: 10.75% Repayment Periods: 120 months
7 https://bit.ly/43inhlC
Insurance
Interest
Other
Profit Before Interest and Taxes
Taxes Incurred
$413
$250
$896
$208
$16,629
$77
$77
$23
$54
$413
$250
$892
$208
$16,625
($1,775)
($1,775)
($532)
($1,242)
$413
$250
$877
$208
$16,611
($3,617)
($3,617)
($1,085)
($2,532)
$413
$250
$883
$208
$16,616
$3,802
$3,802
$1,141
$2,662
$413
$250
$879
$208
£16,612
$5,663
$5,663
$1,699
$3,964
$413
$250
$875
$208
$16,608
$7,523
$7,523
$2,2257
$5,266
$2,750
$413
$250
$870
$208
$16,603
$1,959
$1,959
$588
$1,371
$413
$250
$866
$208
$16,599
$3,820
$3,820
$1,146
$2,674
$2,750
$413
$250
$861
$208
$16,590
$5,680
$5,680
$1,704
$3,976
$413
$250
$857
$208
$16,586
$7,541
$7,541
$2,262
$5,279
Business Plan
9.2 Sales Projections
Annual Projections
Sales Projections
Direct Costs
Monthly Projections Year 1
Sales Projections Month 1
Sales From Operations $37,125
9.3 Profit and Loss
Monthly Projections Year 1
Year 1
$295,391
Year 2
$398,778
Year 3
$478,534
Year 4
$562,277
Year 5
$618,505
Sales From Operations
$537,075
$725,051
$870,062
$1,022,322
$1,124,554
Direct Costs
$20,419
$18,150
$15,881
$24,956
$27,225
$29,494
$22,688
$24,956
$27,225
$29,494
$26,091
$28,813
Profit and Loss Projections
Sales
Gross Margin
Marketing Rent
Utilities
Total Operating Expenses
EBITDA
Net Profit
Month 1
$37,125
Month 2
$33,000
Month 2
$33,000
Month 3
$28,875
Month 3
$28,875
Month 4
$45,375
Month 4
$45,375
Month 5
$49,500
Month 5
$49,500
Month 6
$53,625
Month 6
$53,625
Month 7
$41,250
Month 7
$41,250
Month 8
$45,375
Month 8
$45,375
Month 9
$49,500
Month 9
$49,500
Month 10
$53,625
Month 10
$53,625
Month 11
$47,438
Month 11
$47,438
Month 12
$52,388
Month 12
$52,388
$23,574
$446 $2,750
$413
$16,582
$6,992
$4,895
Gross Margin $20,419 $18,150 $15,881 $24,956 $27,225 $29,494 $22,688 $24,956 $27,225 $29,494 $26,091 $28,813
Operating Expenses
$16,706
$446
$2,750
$14,850
$446
$2,750
$12,994
$446
$2,750
$20,419
$446
$2,750
$22,275
$446
$2,750
$24,131
$446
$2,750
$18,562
$446
$20,419
$446
$2,750
$22,275
$446
$24,131
$446
$2,750
$21,347
$446
$2,750
$413
$250
$848
$208
$250
$852
$208
$16,608
$4,761
$4,761
$1,428
$3,333
$6,992
$2,098
20
Sales
Gross Margin
Utilities
Profit Before Taxes
Taxes Incurred
$537,075
$295,391
$241,684
$33,000
$4,950
$3,000
$10,455
$2,500
$42,428
$12,728
$725,051
$398,778
$326,273
$5,618
$34,650
$5,198
$3,150
$9,799
$2,625
Profit and Loss $199,256 $248,040 $259,211 $300,894 $314,609
$42,428
$78,233
$78,233
$23,470
$870,062
$478,534
$391,528
$5,898
$36,383
$5,457
$3,308
$9,058
$2,756
$132,317
$132,317
$39,695
$1,022,322
$562,277
$460,045
$6,193
$38,202
$5,730
$3,473
$8,233
$2,894
$159,151
$159,151
$47,745
$1,124,554
$506,050
Profit and Loss Year 1 Year 2 Year 3 Year 4 Year 5
Marketing
$140,000
$5,350
$187,000
$196,350
$236,168
$6,503
$6,017
$191,441
$57,432
Net Profit $29,699 $54,763 $92,622 $111,406 $134,009
Assets
Cash and Other Current Assets
$123,804
$123,804
$172,006
$172,006
$257,325
$257,325
$360,603
$360,603
$485,566
LiabilitiesandCapital Y$e21a,0r010 Yea-r2 Yea-r3 Yea-r4 Yea-r5
Long-term Liabilities
Earnings
Total Liabilities and Capital
$94,105
$94,105
$0
$29,699
$29,699
$123,804
$29,699
$87,544
$87,544
$29,699
$54,763
$84,462
$172,006
$84,462
$80,241
$80,241
$84,462
$92,622
$177,084
$257,325
$177,084
$72,113
$72,113
$177,084
$111,406
$288,490
$360,603
$288,490
$63,068
$485,566
21
$134,009
April, 2023
Annual Projections
Profit and Loss
Direct Cost of Sales
Payroll
Rent
Insurance
Interest Other
EBITDA
9.4 Balance Sheet
Balance Sheet Projections
Current Assets Total Assets
Total Liabilities
Retained Earnings Total Capital Net Worth
Year 1
Year 2
Year 3
Year 4
Year 5
$618,505
$247,976
$40,112
$3,647
$7,315 $3,039
$191,441
Year 5
$485,566
$63,068
$288,490 $422,498 $422,498
Year 1
Year 2
Year 3
Year 4
9.5 Breakeven Analysis
Monthly Revenue Break-even
Annual Revenue Break-even
9 Financial Plan
Break Even Analysis
Daily Revenue Break-even
$1,165.44
$34,963.15
$419,557.78
Business Plan
As previously mentioned, Independent Mobility Scooters LLC will be a new retail store located in Tucson, Arizona, that focuses on providing high-quality mobility scooters and related services to the disabled and disabled veterans at competitive prices. The store will be owned by Naomi L Johnson, who will serve as CEO. The Company will aim to hire up to five employees by the end of Year 5.
Independent Mobility Scooters LLC will operate in an expanding market in its area. Projections show favorable trends within the Mobility Scooters Industry in the next five years, signaling expansion opportunities, as well as possibilities for increasing prices and including additional products in the future.
The Company will face a low number of direct and a low level indirect competitors in its industry due to its specific location and its business model. To stay ahead of them, Independent Mobility Scooters LLC will rely on its competitive advantages. The Company’s marketing strategy and its use of modern technologies will set Independent Mobility Scooters LLC apart from its current competitors, who rely on underperforming websites and are not present on some social media platforms. The Company is expected to achieve $495,000 in revenue in Year 1, and the revenue is expected to grow to $1.036.456 by the end of Year 5.
Additionally, by developing long-lasting relationships with its clients and key opinion leaders, by establishing superior and personalized customer services, and by continuously improving its offer through productive business partnerships, Independent Mobility Scooters LLC will become a vibrant part of the community. Its profit projections, market conditions, and professional orientation, make Independent Mobility Scooters LLC an exceptional business opportunity.
10.1 Disclaimer
All financial and non-financial projections are made based on market averages and the information available in April 2023. Market conditions and industry trends can change as a result of multiple factors starting with unforeseen effects of COVID-19 pandemic, technology, trend, and input price changes, to other effects such as potential declines in the global economic activity in the future. Overall strategy should be adapted through regular market research and projections available in the following years.
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