Stretch ‘r Wings is a start-up company making medical interior equipment for aircraft operators and hospital flight programs. Stretch ‘ ‘r Wings will provide cost-effective and thoughtful medical interior design solutions. They also sub-contract some manufacturing.
Stretch ‘: Wings has identified, and is working towards four objectives that will help them on their way to profitability. The FAA will approve the first objective, which is to receive Supplemental Type Certification (STC). An initial prototype of the design is the second objective. Next comes the need for parts manufacturer approval. The final step is to create a comprehensive marketing plan.
Stretch ‘’r Wings targets both aircraft operators and hospital flights programs in both the United States as well as international markets. These two segments currently have the greatest market potential. These segments will be reached by Stretch ‘ ;r Wings in a variety of ways. They can send brochures and direct mail, as well as brochures and advertisements through trade publications and the internet. The US market, including international markets, will be the primary target. The growth rates of all three segments are five percent. 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. Their aluminum frame creates a lightweight, strong unit that can be assembled quickly. The second edge has a storage device built in, optimizing the space available. The Stretch ‘ ;r Wings will also have a glide-ease stretcher system that makes it easy to enter and exit. All Stretch ‘r Wings units are designed to be compact, efficient and safe.
Stretch ‘ ;r Wings has put together a strong management team in order to implement their solid plan. ** is the product design master for Stretch ‘r Wings. After a 20-year industrial design career, he has recently focused his designs on medical applications. His wife is a doctor. **, the business mind of the company, complements our design master. ** will handle operations and strategic plans functions. He was Vice President of Operations at a $45,000,000 bicycle manufacturer for 17 years.
Stretch ‘’r Wings will be profitable by year one. Profits will continue to rise through year five. Sales for year two are conservatively pegged at $230,000, growing to $634,000 in year five. Stretch ‘ ;r Wings, an innovative business, combines innovative designs to meet a market need. It will be supervised by a team with experience.
**Names have not been published for confidentiality.
These are the business goals and targets for Stretch ‘ r wings:
- You can obtain STC approval from FAA on eight popular general aviation planes.
- Prototype of a Medical Interior for FAA Conformity Inspection
- Once the first STC is completed, Stretch ‘: Wings will be issued a Parts Manufacture Approval(PMA) by the FAA.
- Prepare a marketing strategy, sales literature, website and sales department. This step will be implemented after the approval of several STCs.
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, which is a self-contained, life-support system, has an internal component that includes oxygen, air and vacuum as well as both DC and AC electric power. Stretch ‘ r Wings will design, 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. The company’s staff have many years of success in performing STCs. However, the process may take longer than anticipated which could adversely impact the company’s prospects.
After products are approved by FAA, the next step is marketing to increase brand awareness. Stretch ‘ is the best tool for this purpose.