SweetSpot provides efficient parking solution to existing problems faced by patrons of large and small businesses. Based on a state-of-the-art machine learning technology, the objective is not only to provide consumers with easy access to the available parking spots in the lots, but also help businesses in tracking, optimizing and integrating the complete parking systems into a comprehensive cloud-based platform. Why Should We Care About Parking Issues? Our company tackles the perennial parking problem because apart from personal convenience, it has huge economic and environmental consequences. It is estimated that to find a parking spot, people drive extra 12 million miles in US alone. In some large businesses, real-time parking technology …show more content…
We target our initial customers to be universities, University at Buffalo (UB) being our first potential customer. Given our association with UB, we find the need to find a parking solution at UB very palpable. We believe that cultivating a strong initial relationship with UB and other universities and small businesses is critical to our …show more content…
Of the $78,000 in start-up funds, $42,000 is targeted for initial expenses for installing the required hardware at UB. The remaining $36,000 is required for development and maintenance of the cloud-based app and server. After successful implementation of our technology using the start-up fund, UB will be charged an estimated $10,000 per parking lot to provide the app-based services and regular maintenance of the hardware. We are forecasting total revenue of $430,000 at the end of 2nd year, with net cash positive of 18% in 2 years. At this stage, we expect funding from potential investors to aid us in expanding our business. What are Our Long-Term Plans? During the expansion phase of our business starting from 3rd year, we plan to target 10 universities in WNY. A total expense of $1.21 million is required at that stage, which will be targeted towards essential expansion of 3 main components: personnel, hardware, and software. We project our business to break even during the expansion, and transition into a cash positive business from this point onwards. Our forecast projects a net revenue of $7.2 million at the end of 3rd year, increasing to $20.5 million in 4th and $51.2 million in 5th
As children and next generations grow up faster and faster, the population increase and also do the vehicles. The vehicle is an important method that helps people today transport from place to place. Cars increase dramatically as young students and teenagers begin to learn how to drive. However, the packing space in the neighborhood are still limited that people don’t have enough spaces to park their cars. The parking problem in the neighborhood is one of the most common problems in today. People is facing parking problems in their neighborhood; however, the city can overcome the problem by create more parking space and encourage people to expand their garage.
Supported and empowered by VetPride’s executive leadership our proposed implementation plan is essentially flawless. Our executive leadership team plays an active role during implementation and throughout the duration of the contract to ensure the customer’s complete satisfaction with the services provided. Renowned by exceptional attention to customer service and operational detail, VetPride is by far the best choice. We maintain this distinction by rigorous standards of recruiting, hiring, training, evaluation, and ongoing empowerment. VetPride is committed to a partnership with our clients by providing efficient and convenient parking services. We focus on adaptability and responsiveness to our customer’s needs. We strive to conduct ourselves and serve our clients and customers with unwavering dedication and integrity. Currently, VetPride successfully manages and operates the 20 VA Medical Centers throughout the United States and has zero unresolved claims for personal or property damages. We are committed to the healthcare industry and highly motivated to take Stratton VAMC parking operations to new levels of customer service and success. We welcome the opportunity to do so. As a leader in the healthcare parking operations, VetPride has extensive experience in implementing valet parking service programs ranging from simple to complex operations for hospitals. We would begin by forming a start-up team composed of VetPride and the Stratton VAMC management. The intention of the start-up team will be to provide a smooth transitional and successful introduction of our Company to support the hospital facility. The strategy is to share pertinent information, develop procedures agreeable to both parties,
Mr. Gayle and I choose to fix the parking issues by removing all special parking for Professors, build more parking by purchasing the empty lot across the street from the campus. This project will be feasible with the amount awarded because it is enough to pay for the empty lot, pay workman, and materials for example, paint, tar, and cement. This project does not take a lot of money or time and can be completed within a semester or the summer break. My friend Dianne attends Binghamton College at upstate New York and was amazed when I discuss the special parking for Professor. Compared to, her school were they do not have that problem and both students and Professors have sufficient parking and the only marked parking is for people with a disability. Therefore, addressing this problem is beneficial to students and can prevent late arrivals for
Webmasters.com has developed a powerful new server that would be used for corporations’ Internet activities. It would cost $10 million at Year 0 to buy the equipment necessary to manufacture the server. The project would require net working capital at the beginning of each year in an amount equal to 10% of the year's projected sales; for example, NWC0 = 10%(Sales1). The servers would sell for $24,000 per unit, and Webmasters believes that variable costs would amount to $17,500 per unit. After Year 1, the sales price and variable costs will increase at the inflation rate of 3%. The company’s
The enforcement of parking restrictions is one of the most problems that condominium associations and property managers are forced to deal with. In densely packed urban areas, parking spaces are often at premium in condominiums and issues arise when co-owners fail to park in their designated areas. In contrast, suburban site condominiums with single family homes often face parking issues related to parking boats, commercial vehicles or inoperable vehicles in driveways or on the street. Accordingly, given the vast array of potential parking issues that can arise in a condominium, condominium associations and property managers need to be prepared to
Peter’s Peripherals assembles multimedia upgrade kits --- sets of components for adding sound and video to desktop computers. The demand for their kits for the next four quarters is estimated in the table below. Unit manufacturing cost for each kit is $160. Holding costs on each kit is $80 per quarter. Any kit that must be delivered late is assessed a backorder cost of $120. Each worker is capable of finishing 10 kits per quarter. If the company chooses to vary work force levels, it will incur costs of $400 for each additional worker; $600 for each termination. The company currently has 28 employees.
GigaTech will be renting an office space in Newport News, Virginia. It will cost the company $2,700 per month to rent out a 3,842 square-foot office. It will also pay $210 for utilities such as electric, water, gas, and sewer. In order to form our Limited Liability Company, we are responsible for paying a LLC formation expense of $200. We also need to obtain a software license, which costs $170. To create an Apple app, we must also create an Apple account and pay $99 each year. An estimate of $300 is needed to trademark our company as well. Our company will also be paying $800 every month for internet expenses. Attorney fees will cost $1,220 a month based on one four hour meeting a month at $305. In addition to the administration costs, our company will need to purchase all office equipment, office supplies, and bathroom supplies. We plan on spending $17,483 within the first year and purchasing these items from Staples, Walmart, or online. Our company will be providing health insurance to all the employees, which will cost approximately $228,000 per year in total. The
Speedy Rentals is will have many external stakeholder to consider when doing business. First, the most important stakeholder to any company’s success is their customer, and at Speedy Rentals we are going to have a great customer pool. We at speedy rental are lucky that we have a captive audience with college students. We anticipate that a majority of our sales are going to come from DeSales college students renting our transportation equipment. Our second target market will be the guests who come to Desales beautiful campus whether just to visit for a friend or watch a sporting event. Finally Speedy Rentals also hope to get the traveling faculty member a quick and easy way to get around this large campus.
Established in 1984, 210 full-time employees, 200 part-time employees. 2006 sales = $1.9 Billion. Dealing with an
Currently, our findings indicate that there are indeed issues with the availability of commuter parking on campus. This issue will increase as Virginia Tech attracts more students who wish to study at our campus, and as more building projects take up space that was once used for parking. Prior to the start of Goodwin Hall’s construction in 2011, older campus maps show that the space was once available parking ("Main Campus Map", 2007). These additions to campus are never to be discouraged, and greatly benefit the student body and campus community. The concern lies in the fact that while additional buildings are being added to campus with the ability to attract a larger student body there are no additional logistics projects under construction along with the classroom and learning environment expansions.
Startup Costs: The initial investment required to start this business will include the following costs: 3 wheelchair vehicles ($150,000), 2 sedans ($40,000), 1 years rent, ($12,000), 1 year’s salaries for employees ($100,000), 3 portable ramps ($1,500), and an App ($50,000). This total amount is $353,5000 and doesn’t
We have to spend a substantial amount in developing our customers’ base. For example, we will print fliers and this will cost the business an estimated sum of $2000 dollars. These fliers can be distributed to 10,000 customers, meaning that each customer will absorb $0.2. In addition to this cost, we need to spend some money for transportation as we get these fliers around. This can be estimated as $500. This entire process will definitely takes us around two weeks to complete it. A success in this process will put the business in a very good
There have been many reasons why on-campus parking has become difficult in recent years. Increased student enrollment at Kent State University has posed many problems. The parking lots cannot facilitate the growing need for vehicle parking. Campus officials have undertaken construction projects to curb the parking problem, but these renovations have closed lots in the near term. Also, the increased enrollment of
Most of the installations include medium or bad partial services like restaurants and shops. Many restaurants moved from the city to the area of the express way to follow traffic. In fact, Informal and illegal service stations are now dominating service delivery and they are very close to road and cannot be moved back because of obstacles behind it parking, especially of trucks needs management and repair. Most of the parking of trucks is obstructing movement and activities. The installation along the way slows traffic unnecessarily on a high speed Expressway, distracts drivers, and in effect removes
Traffic congestion is the growing problem in today 's scenario.The major factor that contributes to this problem is the existing parking system where there is no proper parking rules observed. Car registrations in India increased to 236761 cars in December from 228267 cars in November of 2015.Car