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I must provide feedback on this business plan draft. Grammar errors, suggestions, questions etc. Nothing too crazy just a few bullet points on what...
I must provide feedback on this business plan draft. Grammar errors, suggestions, questions etc. Nothing too crazy just a few bullet points on what they can work on:
INTRODUCTION The estimated impact of the equine industry on the United States GDP for products and services is $38.8 billion dollars annually. EquesTrail is a design and marketing firm which will own the patents for innovative products to complement this industry. The production of products will come from joint partnerships with one or more manufacturers. The American Horse Council Foundation estimates the U.S. horse population at 9.2 million horses, with 3.9 million of these being used for recreational purposes. EquesTrail intends to penetrate this industry with a revolutionary Saddle Horn Cell Phone Mounting System. The EquesTrail Company is nestled into the foothills of the beautiful Ozark Mountains at 1050 Elm Grove Road in Rogersville, MO. Our primary contact, Amy Hart can be reached at (417) 331-6202, or via email at
COMPANY HISTORY EquesTrail was co-founded by a team of five entrepreneurial-minded graduate students from Colorado State University in February 2018—Amy Hart, Casey Davis, Joelle Good, Travis Rempe, and Chris Stopczynski. The founding team desired to create company that would manufacture a product catering to the identified needs of the equestrian community. The original concept was presented by team member Amy Hart. Amy and her husband live in Missouri and enjoy a broad range of equestrian activities, including recreational trail riding. It was on one such trail ride that Amy found herself on the ground, digging through the bushes in search of her cell phone. Her favorite horse had spooked while she was referencing the GPS app, and the cell phone had gone flying out of her hand while she quickly focused on re-gaining control and staying in the saddle. Thus, an unaddressed need was identified. The GPS ability of cell phones today are a great asset to adventure-loving horse enthusiasts, but a safe and reliable method of carrying them in the saddle was needed.
MISSION STATEMENT Helping trail enthusiasts find their place in the world with innovative products to make equestrian activities safe and enjoyable. TAGLINE: "Riding With Confidence" This idea has multiple meanings. The first being riding with the confidence that you have access to the navigational tools available to ensure a successful adventure. Second being riding with the confidence that your phone is locked into a superior bracket, and there is little-to-no danger of it falling off. Finally, riding with the confidence that you have two free hands to focus on controlling your horse.
PRODUCT EquesTrail started with a vision for a safer and more effective method for using a GPS device while trail riding. Our team recognized a lack of options for a hands-free means of using an electronic GPS device while riding and the dangers this can create for horses and their riders. Through a thorough understanding of riding culture, the team designed the revolutionary Saddle Horn Cell Phone Mounting system. The system is adjustable, ensuring a custom fit for a variety of devices. This allows a rider to use both hands to handle their horse, while still referencing their GPS to follow the trails of fellow riders. Our leadership team recognizes the competitiveness of the cellular solutions market and the need to create barriers to entry. The overall design of our product and several unique components will be submitted for patents to protect our intellectual property. As an additional barrier to competitors, EquesTrail is working with trusted, reliable partners in the riding industry to create strategic partnerships and begin establishing our brand with potential customers. Company Description
CURRENT STATUS EquesTrail will open for business September 1, 2018. Since the business was conceived on February 16, 2018, we have achieved the following milestones, and still have the following milestones to complete before opening for business. Milestones Completed: ● Five-member management team in place ● Private funding established through management team ● Product proof of concept - Minimally viable product created ● Initial potential customer feedback received Milestones Remaining to Be Completed: ● Company name registry ● Incorporation ● Feasibility analysis ● Business plan development ● Focus group sessions ● Final product design(s) ● Source manufacturer ● Source sales force ● Establish Board of Directors ● Source funding opportunities ● Seek corporate partnerships
FUNDING SOUGHT EquesTrail will require $80,000 in start-up capital. The five founders of the company will contribute equity of $60,000. The remaining $20,000 will be financed externally through equity and small business loans. This capital will cover the initial costs of a product run, research and development, and sales and marketing costs. By outsourcing manufacturing and focusing on a patentable design, EquesTrail will be able to cover all development and manufacturing expenses, as well as earn double the initial returns with a successful product run within the first two years.
LEGAL STATUS & OWNERSHIP EquesTrail will be incorporated as a limited liability corporation in the United States, headquartered in Missouri, with ownership retained by the five co-founders.
BRAINSTORMING AND FIRST REVIEW We began our trademark search by brainstorming name ideas. The team identified 15 potential names for the business. We then ran a preliminary trademark search on the national Trademark Electronic Search System (TESS). This initial search eliminated one of our ideas—Trail Mate. We reviewed the remaining 14 names again and eliminated those we felt lacked sophistication (i.e. Horse Phone), were misleading (i.e. Saddle Map), or limiting in terms of future expansion (i.e. Saddle Phone).
SECOND REVIEW After our initial review, we had limited our options to three potential names: EquesTrail, Saddle Cell, and Equine Trail. We had to regroup to determine what direction we saw ourselves expanding. After careful consideration, we returned to why our company was formed initially. We had identified a need faced by trail enthusiasts and desired to create product to solve that need. Future expansion would likely focus on additional horse-centric products. Additionally, we did not want to contribute to the already saturated cell phone accessory industry. This led to our elimination of the potential name "Saddle Cell," as we felt the use of "cell" would limit future growth to cellular solutions.
MISSOURI SECRETARY OF STATE SEARCH We determined we would likely incorporate in Missouri, the home state of our team lead. We used the Missouri Secretary of State's Online Business Search site for both remaining names. We found a business called Equine Trailer Supply and another called Equine Trailer Sports. We eliminated Equine Trail as an option to avoid any possible confusion with these companies. A search for EquesTrail came up with no results. We broadened our search to eliminate any homonyms both with the "s" and without. We were able to determine that none of the following 17 names were registered in Missouri, with or without spaces: EquusTrail, EquisTrail, EquesTrial, EquusTrial, EquisTrial, EquesTrale, EquusTrale, EquisTrale, EqueTrail, EquuTrail, EquiTrail, EqueTrale, EquuTrale, EquiTrale, EqueTrial, EquuTrial and EquiTrial. We searched for all names by both Business Name and Name Availability.
TESS SEARCH We returned to TESS to conduct a more thorough trademark search at the national level. We searched for the same 36 search terms (EquesTrail and the 17 homonyms) and found one dead trademark. Equestrials was registered January 15, 2008, and was cancelled August 24, 2014. We discussed this dead trademark and decided it was different enough and had been cancelled for long enough to move forward with EquesTrail.
WEBSITE AND GOOGLE SEARCH Utilizing our 36 search terms, we conducted a Google-search to see what results were related to the names. None of the results matched existing companies or websites. We moved forward with a website search, and tested the same with both ".com" and ".net"—none were found. As a result of our process, we have decided to move forward with calling our business EquesTrail.
