04 Mar Inventory Control Software Business Plan
Royal’s Software is launching an ambitious plan to create Royal’s' Inventory Basic–: a scalable inventory management software product. Pursuit Solutions is selling the new product. The product will be released in May.
Pursuit Solutions, a $50M company hardware integration reseller will distribute Royal’s Inventory Basic to more than 1,100 Valued Added Resellers. The product will go for $2499. Royal's Software will receive $1,250 on each unit sold. Pursuit Solutions expects to sell 250 units per month by the end of month six. It is projected that Royal's Software will gross $313,000 from sales the first year.
Tech support and product modification will be a critical part of software sales. Royal’ s Software anticipates $63,200 in product modification before the end of six-months.
In addition, Royal's Software has entered into a business agreement with Pursuit Solutions and Johnson and Roe (CPA firm) to create a MAS 90 portable data collection interface that will be sold to accounting firms. This software product is in development for the past ten month.
John Royal and Dan Whiteaker played an integral role in product development. MAS 90 will not be sold as a single product. It will come with software customization ($2,000-$3,000), which Royal’s Software will provide. This software product is expected to sell for $2,500
Royal’, Software will receive 1/3 gross sales ($833). Royal’â€™s Software, which includes product sales as well as customization services, is expected to reach $500,000.
John Royal and Dan Whiteaker will each invest $50,000. In addition, the company will obtain a $100,000 short-term loan.
These are the objectives of Royal’'s Software:
- Position the company as a leader for inventory software products.
- Each year, increase sales 20%
- Every year, develop one new product for your inventory.
Royal’s Software was founded to provide inventory software that is inexpensive and scalable. This allows customers to modify the software easily.
Success Keys 1.3
Productivity and ability to deliver products that meet user specifications and needs on time.