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Patented Truck Bed Extension Manufacturer Seeking Investors
Posted by: sally mechur on 8/16/2016 12:50:16 PM
Funding Needed:
$250k - $500k
Category:
Manufacturing & Production
Location :
USA
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Favorited : 0 times
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Description:
Business Description
The Company was established in 2014 in order to develop, patent and manufacture highly useful, durable, lightweight truck bed accessories. The Company’s truck bed extension has been recognized as the best on the market, designed to solve the problems the competitors have not. The Company focuses on the needs of truck owners.

The Company’s truck bed extension is protected by a Utility Patent, also referred to as a "patent for invention." A Utility Patent is issued for the invention of a new and useful process, machine, manufacture, or composition of matter, or a new and useful improvement thereof, it generally permits its owner to exclude others from making, using, or selling the invention for a period of up to twenty years from the date of patent application filing, subject to the payment of maintenance fees.

Unique Value Proposition:
Custom built to fit the specific year, make, and model of any truck! Installing the Company’s Truck Bed Extension is done in 5 easy steps. Only one bracket is installed and the extension latches onto existing tailgate hardware. The patented extension mounts simply, and permanently to the inside of the tailgate. When you need it, use it! It’s that simple. It uses a minimal 1 inch of space when stowed. The Company’s truck bed extension “dangles" from the end of the tailgate, allowing full access to the truck bed. Just flip, latch, and go. The owner/inventor took quite some time to develop an extension that would be slim, lightweight, durable, and fully functional.

Sales/Marketing:
The Company's marketing strategy has, and will continue to be on sales promotion, niche positioning in the market and customer service. The focus will be on loyalty and retention in sales.

Pickup trucks are selling at some of their highest volumes in almost a decade, making monster profits for automakers. While the Truck Bed Extension is an obvious enhancement for short-bed pickups, the pickup truck market as a whole is a target market. Pickup truck owners represent a very loyal segment and the fact that the Company’s Truck Bed Extension can be made to fit any model is a value added. Additionally, installation enhances the value for current truck owner and increases the resale value of the truck itself.

Sales have been limited, as the majority of time and financial resource have been assigned to Research and Development.

Key Risk Factors:
With the patent protection there are no discernable risks at this time

Exit Strategy:
The owner of the Company’s primary intention is to sell the Utility Patent for $500,000. As an alternative strategy the owner will consider an equity partner (25% share in exchange for $125,000) and continue to run the business. A third alternative would be to sell a portion of his patent.

Should equity investment prevail over selling the patent, the Company will seek to form strategic alliances with local truck dealers by developing and offering on the lot enhancement deals for truck buyers. This program, once developed and in place, will eventually be introduced to truck manufacturers themselves either by offering assembly line enhancement or selling the rights to the patent/product outright.

Industry:
Truck Accessories

Sales Forecast
Year 1 – $101,000
Year 2 – $126,500
Year 3 - $158,000

Financing Sought
To sell the current Utility Patent that the Company currently owns for $500,000.
Or sell part ownership of the patent
Or take on an equity partner offering 25% equity share in return for $125,000.

Use of Proceeds
Set up full scale production for the Company

Additional Documents Available
Business Plan
Executive Summary
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