Interstate Travel Center is intended to be the major travel center in Dallas, Texas. It will consist of a convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Interstate Travel Center is a corporation owned and operated by Steve and Janet Smith. The company's management philosophy is based on responsibility and mutual respect. Interstate Travel Center has an environment and structure that encourages productivity and respect for customers and fellow employees. Interstate Travel Center is organized into two main functional areas: convenience store-gas/diesel, and the restaurant, each will have its own on-site management. Steve and Janet Smith are the founders and co-presidents. They will head the operation, and will concentrate on product sourcing, sales, marketing, finance, and overall administration. Each area will have a manager responsible for daily operations who will report to the Smiths. Standard & Poor's estimates that the U.S. commercial freight transportation market had aggregate revenues of $436 billion three years ago. In other words, five cents of every dollar of U.S. gross domestic product that year was spent on transportation. With some $344 billion in revenues that same year, the trucking business claimed 79% of the U.S. commercial freight transportation market. This total was divided among two sectors: private carriage and for-hire. The initial start-up costs will amount to $2.75 million, which will be used to purchase land, develop it, and construct a 6,000 square foot travel center, complete with gas/diesel islands, scales, and a restaurant. The initial capital injection will be $250,000. The remaining will be in the form of a $2.5 million loan.
The mission of Interstate Travel Center is to start a new public travel center which will service the truck fueling and shopping needs of NAFTA trade, the general traveling public, and local Dallas customers. Company Summary
Interstate Travel Center is a start-up company whose management perceives a growing demand for commercial vehicle services within the Dallas area. The company's management staff includes Steven Smith, who has extensive experience within the automotive repair industry, and Janet Smith, who has provided budgeting and bookkeeping services to small companies for twenty years, who will provide the logistical support for the business. It is Interstate Travel Center's long-term goal to create multiple service centers within the southwest area to service the NAFTA commercial traffic and create a brand awareness that transcends state borders. Location:
Interstate Travel Center will be located between I-45 and I-635 in Dallas, Texas. Access to the travel center will be through these major highways. The advantages of this site are listed below and should be evaluated accordingly when investments for site developments (or improvements) are being considered. * Visibility of this site is considered good.
* Competition at and around this location is low.
* Quantity of competition is classified as limited.
* Accessibility to location is good.
* Traffic count potential (during rush hour traffic) at this location is considered good. * House count at this location is very low.
* Demographics at this location are excellent.
* Growth of area around this site is fair.
2.1 Company Ownership
Interstate Travel Center is solely owned by Steven and Janet Smith. It is not anticipated that the company will seek additional shareholders for the foreseeable future. 2.2 Start-up Summary
Funding Requirements and Uses
The initial start-up costs will amount to $2.75 million. This will be used to purchase land, develop it, and construct a 6,000 sq./ft travel center, complete with gas/diesel islands, scales, and a restaurant. The initial capital injection will be $250,000. The remaining will be funds in the form of a $2.5 million loan. Figure...