LenCo

INNOVATIONS

  • Describe your industry? I am focusing my marketing into the Do it yourself workers, mechanics, and people doing a project that don't really know what they're doing
  • Describe your customers? Our customers are experienced mechanical workers to people who don't really know what they are doing and just want a quick and easy way
  • Who are your competitors? Irwin tool
  • What advantages do you have over your competition? with our competitors size gauges the bolt has to already has to be taken out of the whole. both of they'res are made of thing plastic that will either break or ware out. Mine is made of good 1/8 steel, Mine is also a lot smaller than my competitors and only takes up about as much room as a ruler. the only down size of making it our of metal is that it is heavier
  • What regulations apply to your company? I Cannot currently find any regulations the apply to my product
  • What is your mission statement? Our mission is to have people take notice to our product and to have our product make a difference is their lives

    • What is the legal structure of your company?The principal member of this company is me Matt Leonard.
    • Complete a SWOT analysis.Strenghts-
      MY product is helps solve an old announce in an new an innovative way.
      Weaknesses-
      I am new to the business world and don't know everything about business.
      Opportunities-
      Our product solves a problem that has been around for along time and should gain the support by others.
      Threats-
      My company faces the threat of other companies calming the idea for themselves.
    • What is the culture of your business? What's it like to work there?A high efficiency low stress environment. where employees are happy working
    • What product or service will your company provide?A gauge for measuring the size of bolts

      • Describe your pricing structure?My product will cost 2 to 4 dollar to make and it will sell it for 6 to 8 dollars
      • In which life cycle stage is your product or service?Our product is for people who have lots of experience to people who don't know what they are doing and just want a simple and easy way.

      • What intellectual property rights do you have for your product or service?I have worked on mechanical equipment involving bolts to know that this problem exists

        • What research and development (R&D) activities are you performing or planning?I plan to use a 3d printer to make my prototype. then when i gain support i will make it out of meta

          • What is your plan to grow your company?we plan to grow by getting our product by getting as many supporters as we can well making sure we can handle it

            • How will you communicate with your customers?Once our product has gotten start i will try to start up a suggestion page started or on a social media site
            • How will you sell your product or service?through department stores hardware stores and auto store.