FireRescue Depot was an exciting start up business that was registered as an Illinois S Corporation. FireRescue Depot sells search and rescue and fire department hydraulic tools. FireRescue Depot is able to offer a full line of hydraulic tools made by all the major industry manufacturers. This sets FireRescue Depot apart from other vendors. FireRescue Depot’s drop ship agreement allows for a wider product selection. This helps to reduce inventories. Steve Dalmatian was the founder of FireRescue Depot. A competition awarded $50,000 in prizes to the winning ecommerce business plan. The plan won the competition due to FireRescue Depot’s unique approach to offering an extensive selection, as well as its addressing the common pitfall of large selection which is huge inventory. Steve had created what seemed to be a novel and profitable business model. This was confirmed by his winning the competition.
Products FireRescue Depot has several types of tools available for fire-fighting and search/rescue units. These classes are essential to the tools of a fire department.
- Rams are used in punching and pulling, as well as for shoring, stabilizing, and supporting. With a punch force of up to 15,000 pounds, they can easily move a steering column or displace a dashboard. Available in various sizes.
- Cutter provide maximum flexibility and cutting force. You can choose from various sizes and pressures to fit your needs. There are many models to choose from, including different sizes and jaw designs.
- Spreaders can be used to separate various materials, including metal and mass timber. There are several models to choose from. Some offer a wide spread distance (24-40inches), while others have a greater spreading force (19,000-37,000 lbs).
- Combination tools combine cutters and spreaders to create one tool. These tools are extremely useful for metal moving.
Market– The following is a description of the two distinct customer segments that FireRescue Depot has identified and will tailor their marketing and sales activities toward.
FireRescue Depot targets two market segments. The first is urban rescue and fire departments with over 10 employees that serve more than 10,000 customers. 3,435 potential customers have been identified. Annual growth is 8%. The second segment of customers is rural departments that have fewer than ten employees and serve fewer people than 10,000. This segment has 8,787 potential customers and grows at an annual rate 7%.
Management FireRescue Depot’,s management acknowledges the need to have a plan that is well thought out and executed.
Steve Dalmatian, FireRescue Depot’s leader, will take charge. Steve has the necessary skills to successfully implement the well-thought out business opportunity. Steve is a veteran of three years working in a fire service, where he assisted in many rescue operations. This experience has given him a deep understanding of the industry and its technology. Steve has extensive business skills and a Loyola University MBA.
FireRescue Depot’s goal is to be the premier vendor of rescue and fire equipment. Through a combination of outstanding selection and attention to detail, this customer-centric organization will be known as the best retailer for the price and customer service.
Keys to Success
FireRescue Depot identified three key keys to success that are essential to sustain profitability. These keys will be constantly monitored to determine if the organization is meeting them:
- Identify the needs of the market, and offer a wide variety of products.
- Excellent customer service is key to building long-lasting relationships with customers.
- Financial controls must be implemented and maintained.
FireRescue Depot is identifying three objectives that will serve to set lofty goals but are achievable for the entire organisation. These are:
- To be a leader in the fire-rescue hydraulic tool market.
- To achieve profitability in 24 months.
- To increase market penetration by 15% within four years.