The ignition interlock business plan is a document for a company that either commercializes an ignition interlock technology, or that installs and maintains systems designed to override an attempt to start a car without the operator submitting to an in-cab breathalyzer test. Lives are lost on U.S. highways and streets by the thousands every year because of drunk driving, and some of the most tragic accidents of recent years took seed with an intoxicated driver getting behind the wheel. Whether mandated by a court, offered as an optional feature by a manufacturer, or required by a commercial trucking, transport, or cab company, ignition interlock devices are worth every penny. A business plan for a company in this field should cover:
• The market need for the devices
• The target market (who do you sell to)
• Any IP you hold that improves upon the standard
• The use of funds you envision, if fully capitalized
• The timeline for hiring staff
• Marketing concepts, etc.
There are other items to cover, including the competitive advantages your company has in the space and the weaknesses of your competitors. You should look closely at the competitive comparables to show who are the main manufacturers/installers are now and what their revenues and staffing levels have been over the years. Use this information to inform your own financial forecast, which should ideally show your projected revenues and expenses for 5 years. Couple this with a description of what your chief services are, a look at the market segmentation, and an assessment of your core advertising methods and you'll have a complete plan. Need assistance? MasterPlans has written more than 10,000 business plans for clients dating back to 2002. Call today to learn more about what we can do for you: 877-453-2011.
