Overview
Company name: No Parking Solutions.
Vision: to be a leader in affordable and reliable security service for energy delivery systems.
Problem: Security service for energy delivery systems in the energy-intensive urban environment of New York City and Westchester County. With the high load of the energy delivery grid and aging utility infrastructure, both accidents and planned repair works are possible. Consequently, there is a need to provide security and safety of the site that can be located above ground or underground in the sewer system.
Product: Security service for energy delivery systems that are provided by teams of professionals located in different places to guarantee quick arrival and high-quality service. An innovative feature is the use of cybersecurity technologies for energy delivery systems.
Founders: Bill Smith and John Johnson (college graduates, majored in security systems). Place relevant information here!
Early Hires: 8 people for 4 teams of 2 people each, with 1-3 years of work experience in the field of security service for energy delivery systems.
Market: The market for this startup is that of security service for energy delivery systems. Apart from providing security, the company is involved in traffic control and flagging.
Business: The business that the company is expected to enter is security services for energy delivery systems.
Risk Analysis: The major risk in this field is related to competitors that have been already working for years in this market and proved their reliability. Therefore, there can be difficulties in entering the market. Another risk is the inability to satisfy consumer needs. Providing service for Con Edison, the largest energy company in New York, implies a high level of responsibility and quality. Consequently, this risk is related to calculating the volume of staff necessary to function effectively at the beginning of work.
Team
History and Motivation: The team of No Parking Solutions is a union of college friends who decided to unite their ideas and knowledge in a startup. The choice of business is not accidental. Uncle of one of the founders, has been working for a big energy company Con Edison and frequently complains that there are problems with providing the security of locations where they come to work. Therefore, there is a need for more effective security services for energy delivery systems.
Founders: Bill Smith (CEO, college graduate, majored in security systems, worked as a project manager at an energy company).
John Johnson (a college graduate, majored in security systems, studied finance, did a security systems internship).
Composition: The skills of the company founders complement each other. While both of them major in security systems, one of them studied management, and the other took a course in finance. Therefore, they are aware of startup management peculiarities. They hire employees who are supposed to have from one to three years of experience in the field and thus can provide high-quality service, which is the major task of the company.
Product
Problem: Energy delivery systems are crucial for the energy infrastructure. Still, incidents and accidents, as well as planned interventions on improvement, are necessary to guarantee the safety and security of the infrastructure. Moreover, maintenance activities should be provided quickly and safely for the citizens. This problem can be particularly acute in big cities such as New York. Therefore, there is a need for a service that can secure the location before representatives of an energy company arrive.
Product: The major product suggested by No Parking Solutions is securing sites and locations prior to the arrival of energy company employees. The service spreads on both above-ground utility lines and underground ones placed throughout the sewer system. Additional products serviced by the company are securing roadways for road work and flagging. Multiple services stimulate the number of contracts and the acquisition of new loyal customers.
Core Features: The major peculiarity of the company service is the placement of offices in different districts of the city. This approach allows immediate reacting and quick service delivery, which is critical for securing energy delivery systems in conditions of a big city. Also, the important feature of the suggested product is its flexibility, which guarantees satisfying customers’ demands.
Readiness: The product is ready to be implemented.
Market
Description: The market for the company is that of security services for energy delivery systems, which is a part of the security services industry. The focus of the market is securing sites where works of energy companies are provided. There are not many companies involved in this market, but most of them work for some decades and thus have proved their reliability.
Challenges: The major challenge is to prove the company’s reliability and receive contracts from Con Edison, which is the biggest energy company in New York. Another challenge is hiring experienced staff able to provide high-quality service to enter the market and teach new employees when the company grows.
Competition: The major competitors of the company are No Parking Today and San Mateo Construction. No Parking Today is focused on such services as support activities for transportation, parking security services, security guards and patrol services, flagging services, national security, and international affairs, security and safety consulting, transportation consulting, and guard and security services. San Mateo Construction mainly subcontracts traffic flaggers to Con Edison.
Business
Revenue Sources: The major sources of revenue are contracts for security services for the energy delivery company. These services include securing sites for the energy company, traffic control, and flagging.
Sales Strategy: No Parking Solutions develops its own sales strategy. Its major features are as follows. First of all, the company investigates the services provided by major competitors and develops more beneficial suggestions for clients. Another important feature is flexibility, which implies a unique approach to every contract considering its peculiarities and needs of a client. Also, the strategy of No Parking Solutions is grounded on the principle of urgency, realizing the importance of timely service delivery in the condition of a big city. Quick service is expected to be provided due to the presence of offices in different districts of the city. As the company grows, new offices will be added, which guarantees better service delivery all over the city.
Revenue Estimates: Revenue will depend on the size of contracts the company takes. The expected revenue during the first year of the company’s functioning is $2 million. The revenue growth will be re-evaluated after the first six months when there is an opportunity to assess the average contract value.
Funding: At the initial stage of project implementation, funding is expected to be provided at the costs of the grant. To launch the project, I the investment of $1 million I needed. Further investments will be made from the company budget to provide the firm’s development on the market and steady growth of the business.