May 18, 2015
Mr. Mark Fulong
BMO Harris Bank
151 W N Ave
Villa Park, IL
Dear Mr. Fulong, inclosed you will find a detailed business plan for Traversal. Traversal is a
luxury bus company that gets customers from point A to point B in the most luxurious and efficient way possible
. We hope to be have over 250 daily users in the first six months.
To establish the business, we are putting up $100,000 and are requesting $1,500,000 as an initial investment. If all goes as planned this loan can be payed back in a maximum of five years.
Please let us know if you have any questions about the business. Thank you for your time!
OUTLINE OF BUSINESS PLAN
Ownership and Legal Structure
Advantages Over Competition
Identification of Risks
Hours of operations
Day to day management
Necessary equipment and production process
Statement of Purpose
As Traversal we are requesting funding to start the operations of the company. We are requesting $1,500,000 which would be used for:
● First to pay off an existing debts of the company. ● Then the money would be used to buy a fleet of 6 buses to start off. ● After purchasing the buses, a group of people would be hired to completely change the inside of the buses to allow for a more comfortable, relaxing bus ride. ● After the buses are completed, six drivers would be hired to drive the buses. ● With the money left over, it would be saved in a bank account to keep the company running for as long as the company still has money.
Traversal is corporation that is located in Chicago, Illinois. The company will be run by Daniel Kania as CEO and Haythm Ahmed as COO. Traversal is a luxury bus company that gets customers from point A to point B in the most comfortable and efficient way possible. This is made possible by our professional team of bus drivers and our professionally built technology. This service is different from your traditional city bus because we pick you up at any point throughout the city. Just login to our app and tell us where your end location will be. Our app will then use gps satellites to calculate how long it will be until a bus is at your location. The app will even go as far as seeing how long it will take to get to your destination and calculate a price
for the service. There is no exchange of physical money between our drivers and our customers. All our transactions are done with credit card tab. We bill the credit card at the end of each day so i you ride the bus six times in one day you will billed once for the whole day. Once on the bus you will have a seat waiting for you. While on the bus you can purchase snacks and drinks from our onboard vending machine. Again when buying food and drinks you do not need physical money the bill is put on your tab for the day. There is also a bathroom in the back of the bus so you never have to miss a bus because you need to use the bathroom. Traversal is expected to capture at least 20% of the public transportation industry and should be profitable within one year. To finance the startup of the company, Traversal is seeking $1,500,000 in financing, which is expected to be repaid in 5 years
After learning about Uber the independent taxi service that is valued at over $40 billion we knew we wanted to get in this industry. Because Uber is a private taxi that one person orders for themselves or a small group of people it can get pricey. We thought of Traversal as a much ...
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