Unit 5 Project

EXECUTIVE SUMMARY

ToolsCorp Corporation

Purpose

The main reason for this executive summary is to present the future of ToolsCorp for consideration of the preparation of its business plan, dependent on foreseen viability in the expansion. ToolsCorp Corporation will be established as a C Corporation at Lowes Australia with future development plans to the global market. ToolsCorp shall seek financial boost for its products including lawn mowers, power tools, ranges, microwaves and lawn furniture.

Business Description

ToolsCorp specializes in electrical, lawn and general outdoor products. The firm’s operations will abide by the legal requirements of Tennessee and the COO heading it who must be Master’s graduate and having a verifiable excellent performance record in Business.

Process

The firm will begin with selling in Tennessee, the products of the company already being manufactured. From an established company, the new firm will capitalize on the mother company’s experience, expertise and information to forge important goods for the new clientele.

Findings

The market competition for the same products is low with 95% of the market still unexploited. Most of the people in Australia need power tools, electrical products, lawn mowers among other similar products that they can depend on and have access to.

Customer and the staff

Looking at getting positive feedback from our customer base and increase it by at least 95 percent while doubling our current revenue by the end of the fiscal year. Put in place is an employee’s incentive program for the employees that come with the best ideas within the year that will build the company’s brand. Triple traffic to our website to increase sales. Introduce an updated product after five years.

Recommendations

It is necessary and vital to get financing that can help run the company in Australia for at least 6 months and have the right fit for employees on board for success. Especially in the management, production section, and marketing highly skilled and competent workers.

Business Mission

The products will be made locally and sold through big box retailers such as Lowes and Walmart. For advertising purposes, we will put flyers in the local newspaper every Friday.

New Product

ToolsCorp will introduce their products to the market after a short trial period for the products listed below: Power tools, lawn mowers, lawn furniture, microwaves, and ranges. The target market is a global region with a demand for power tools electrical and lawn equipment.

Management Team

The management team will consist of the following: Officer heading finance (CFO), Officer leading the marketing activities (CMO), Chief Officer in charge of operations (COO), Security Officer (CSO), and the Officer overseeing Technology (CTO).

Business Goals

Short-Term Aims: To generate a report for the Strategic Officers Steering Committee of the firm.

To extend the operations of the company to Australia.

Long-Term Aims: To have the company operating in at least 180 countries worldwide and the firm’s products being used in at least 200 countries in the next 20 years.

Funding Request

The Company will ask for a loan of $5,000,000.00 for a 30-year loan, to be used for the following purposes:

Operating Expenses, Global Market Entry.

The company will engage in a long-term debt repayment financial plan with the expectations of breaking even within a 10-year period. After the fiscal year, we expect to have a return of 2.5%.

Reference:

Ward, S. (2017, March 29). An Example of writing an Executive Summary for Your Business Plan

Retrieved May 11, 2017, from https://www.thebalance.com/business-plan-executive-summary-example-