Tonya McClendon has developed a new* elevated pet feeder component, designed several elevated feeder models around the component and built several prototypes. She plans to invest a minimum of £22,000 through a combination of personal savings and loans and is seeking additional funding to protect her feeder component and design ideas and to bring the products to market. She plans to incorporate Tall Drink of Water as a New York-based subchapter S holding corporation to shield her from personal liability and double taxation.
Ms. McClendon intends to establish her product as a brand leader in the £34 billion pet products industry, which is experiencing steady growth, but it is fragmented with no clear brand leaders producing elevated feeders.
Ms. McClendon has managerial, operational and technical experience in business, including financial services, management consulting, food service, architecture and landscape architecture, and Olympic planning. She has a strong customer service and sales foundation and is comfortable working in environments ranging from small family businesses to Fortune 500 corporations. She has a broad range of skills and experience to draw from to launch the company from start-up to stellar.
Based on her research, she is confident that a start-up pet products business that designs and sells innovative, contemporary elevated pet feeders to design professionals, pet care professionals, government agencies and individual consumers will be successful in the United States, where more than half of all American households have at least one pet dog or cat.
Sales forecasts for the first three years are modest based on the performance of competing and complementary products. First year sales are projected to total £143,800 and to increase at a rate of 10% over the following two years, reaching £248,748 by the end of 2007. Sales are expected to improve dramatically once the brand is established.
* Based on preliminary patent searches on the U.S. Patent and Trademark Office website.
1.1 Objectives
- To be a leader in the pet feeder product market with a measurable share of the market by the end of the second year of operation, based on the design and development of:
- Innovative, functional and beautiful elevated pet feeders
- Accessories and complementary pet products
- Products that are environmentally and socially responsible
- To increase sales by at least 10% for the first three years of operation.
- To reach sales of £250,000 by the third year of operation.
1.2 Mission
Tall Drink of Water designs, develops, and markets innovative, functional and beautiful elevated pet feeders and related pet products using methods and materials that are socially and environmentally responsible. It provides a rewarding and respectful work environment with competitive compensation and benefits.
1.3 Keys to Success
Tall Drink of Water, will:
- Design and develop innovative, functional, reliable and beautiful products
- Provide a competitive guarantee for our products
- Provide exceptional customer service
- Participate in design and pet industry communities
- Support pet associations that rescue, train and promote the humane treatment of animals
- Use profits for new product development
- Promote pet safety and health
