Mobile Billboard Business: A Growing Industry in Bangladesh

Companies in Bangladesh have employed different strategies to market their products to consumers. The rise in traffic congestion caused by increased automobile usage has created an opportunity for mobile advertising. Due to the bustling streets of Bangladesh, the "Mobile Billboard Business" is well-suited for reaching the public directly without relying on consumer activity. This form of advertising has emerged alongside the internet and DVRs and is a growing industry with limited competition, making it a potential avenue for newcomers. Recent studies support its effectiveness compared to traditional methods.

Our aim is to provide affordable and high-value mobile billboard advertising services. We expect to generate revenue without external funding in fiscal year 20_. To achieve this, our management team envisions a simple yet effective administrative structure that fosters harmony, coordination, and control within the workplace. Our office is divided into several groups to maximize efficiency and meet the standards set by our main office in Dhaka. All employee procedures must be organized to ensure smooth workflow within the Mobile Billboard company.

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Our company stands out not only for its unique location but also for the routes assigned to our drivers, which have both primary and secondary objectives. The main aim is to pass specific checkpoints based on population distribution across the country. Furthermore, we strive to identify any coincidental gatherings of people along the route. The driver has the authority to decide whether or not to pursue this secondary objective, as they should feel a sense of belongingness to the company as a symbol of Employee Empowerment.

A team of supervisors thoroughly analyze the routes by studying road maps, upcoming infrastructures, new complexes, and any group activities that may attract a large number of individuals. Additionally, our office will have a secretary who will coordinate appointments for future, potential, current, and past customers. This individual will also connect them with management in order to increase public exposure to product advertisements. Moreover, there will be a dedicated team responsible for truck maintenance and handling any mechanical failures that may occur. This team includes one driver specifically trained for on-road mechanical issues. In addition to these roles, decision makers within our company include an accountant who will manage financial statements and budgeting for the year. According to Mr.GM's statement,the Operation Manager has a vision for the company that includes improved equipment,a more professional staff,and greater utilization of technology. The main objective is to ensure customer satisfaction and influence the public, while also improving internal operations. The General Manager holds the highest position in the hierarchy and has ultimate authority in enhancing future endeavors. According to market analysis using survey data, it is determined that out of Boulder, CO's 28,042 students, 24,139 participate in skiing and/or snowboarding. Among these individuals, 19,131 would potentially be interested in utilizing our service. Therefore, our projected customer base represents 7% of the total addressable market - which equals 1,339 individuals. The University of Colorado reports an annual increase in enrollment by approximately 5%, so we expect a corresponding growth in our potential and addressable market. Furthermore, as the skiing and snowboarding industry continues to expand, we believe this will further enlarge our addressable market. Several trends are influencing the market; for instance: as gas prices rise, cost-conscious students seek to avoid expensive drives to ski resorts. The cost of gas alone for a single trip amounts to over $28 per driver without factoring in vehicle maintenance and depreciation costs. Another significant trend is the focus on eco-friendly opportunities like mass transit reducing emissions per person and benefiting the environment; this trend is evident from the steady increase of over 15% in membership for the CU Ski and Snowboard Club over the past four years reflecting growth within the skiing and snowboarding industry.Vail Resorts has seen consistent growth in season pass sales as a result of the lack of transportation options for many students on campus. Snowboarding, which is particularly popular among Generation Y, drives trends and expansion in this industry. Our main competitor is the University of Colorado Ski Bus, managed by both the CU Outdoor Program and the CU Environmental Center. This regular charter bus operates on Saturdays and Sundays from early December to mid-March, accommodating up to 55 passengers and offering TVs for entertainment during the journey. The round trip cost for CU students, faculty members or guests is $10. The Ski Bus travels to two ski resort destinations: Breckenridge on Saturdays and Keystone on Sundays. Boarding takes place at two pick-up locations on campus: William's Village at 5:55 am and the corner of Regent Dr.and Kittredge Loop at 6:10 am. Departure from the ski resort happens promptly at 6:30 am with boarding starting at 3:45 pm before leaving by 4:00 pm. The Ski Bus operates with a high capacity rate of 92% and frequently sells out (over 60% of time). Additionally, other competitors in this industry include Colorado Mountain Express, Vail Coach, and limousine services that provide transportation from DIA to various ski resorts in the Rocky Mountains catering to tourists visiting or vacationing in Colorado's mountains.Vail Coach offers various transportation options, such as an 8-10 passenger van, four-wheel drive Suburban, or Cadillac, depending on customer preferences. Similar to Colorado Mountain Express, Vail Coach caters to out-of-town travelers visiting or vacationing in the mountains and transports them to different Colorado airports using vans or SUVs. Rates for Vail Coach and its competitors are determined by the number of passengers and distance traveled. Both Vail Coach and its competitors accommodate customer-specific departure times. Additionally, Ski Carpool is a website where users can create profiles and connect with others interested in sharing rides to the mountains; creating a profile on Ski Carpool is free of charge. It's important to note that transportation services are considered public utilities in Colorado, so all companies must complete an application with the Colorado Public Utilities Commission to operate as common carriers of passengers by motor vehicle. The commission reviews and evaluates these applications publicly for a month.During this time period, any other bus carrier in the region has the right to dispute our application and start service in the same area. If another company challenges our application, we can take the matter to court and present our case to a Judge. We would explain why our company offers better service for Students in Boulder who have limited transportation options for skiing or snowboarding in the mountains. Driving is one option available to students, but it can be a difficult journey of over two hours each way, especially with traffic. Many students are not willing to make this drive themselves or risk damaging their vehicles. Carpooling is a more popular choice due to rising gas costs but has drawbacks such as drivers often going unreimbursed and finding available space in carpools being difficult. The CU Ski Bus is another option subsidized by the CU Environmental Center and potentially affordable but lacks capacity and convenience. Therefore, both University of Colorado students and other students in Boulder need a comfortable and convenient ride to ski resorts in Summit County and nearby areas. To develop our business strategy, demand/revenue model, product strategy, internet strategy, marketing plan & strategy, and customer research, we conducted over 200 surveys targeting High School and CU students. These surveys were distributed in both CU classes and outside local Boulder high schools.According to our customer survey, out of our target age range of 28,042 people, a total of 24,139 individuals ski or snowboard. Additionally, within this age range, we estimate that there are 19,131 individuals interested in using our shuttle service. Our target market at Shred Sled primarily consists of consumers - specifically high school and college students aged 15-22 in the Boulder County area. We focus on attracting a niche group of ski/snowboard enthusiasts who struggle with finding reliable transportation to the mountains. Our buses initially serve resorts offered on the Vail Resorts Colorado ski pass exclusively; therefore, our consumers must have this pass or be willing to purchase a lift ticket at one of these resorts. While the CU Ski Bus is an option for current CU students as affordable transportation, it has several drawbacks such as early pick-up times, limited destinations, lack of pick-up locations, inconvenient booking process,and more. Shred Sled provides an alternative to the CU Ski Bus for these students and offers features specifically catering to their needs. Shred Sled is a new alternative transportation option for local high school students without access to a bus. Instead, they rely on carpooling to find an affordable ride. Our buses are spacious enough to accommodate large groups and are perfect for events like birthday parties.We aim to target any group that is looking for a convenient and affordable way to transport their members to the mountains. Our primary market consists of local high school students, so we will focus on targeting their parents as potential customers who may be willing to pay for our service. Additionally, Shred Sled plans to generate additional revenue through bus advertising by seeking sponsorship from ski/snowboard manufacturers, ski resorts, and local retailers. Initially, our channel strategy will be E-commerce. This means that customers can easily access our website and book their bus reservations online. The booking process is simple and allows customers to choose trips based on their desired destination, date, and pick-up location. Customers will need to pay in full using a credit card at the time of booking. If customers need to cancel their reservations, they must do so at least one week in advance in order to receive a full refund. Shred Sled is specifically designed as a shuttle service catering towards high school and college students. Our service operates on a flexible schedule and promotes a relaxed atmosphere that embraces the core values of skiing and snowboarding. Our goal is for this bus service to serve as more than just transportation; it should also act as a connection point for skiers and snowboarders within this age range. Shred Sled aims to provide a unique and enjoyable journey for individuals in a specific demographic. By utilizing company-sponsored buses, passengers can experience both comfort and convenience while also feeling a stronger connection to the skiing and snowboarding industry. Shred Sled takes a grassroots approach, fostering community and friendship while advancing the industry. The primary focus is on offering customers an exceptional mountain experience rather than just transportation. Initially operating three buses from Friday to Sunday, serving Keystone and Breckenridge resorts, the plan is to expand to seven buses by the third year, servicing Breckenridge, Keystone, and Vail. Pick-up/drop-off times have been adjusted based on market research findings that 39% of the target market prefers departure between 8-9:OOam compared to competitors' early morning schedule. As a result, Shred Sled will depart at 8:30 am as a way of distinguishing itself from competitors.In order to stand out from other companies in the industry, we will equip our Shred Sled shuttles with additional features such as TVs and video game systems for enhanced entertainment options and customer enjoyment. For rides heading towards Summit County destinations, the pricing will be $20, while rides going towards Vail will be priced at $25. We have chosen a cost + markup pricing strategy due to the high variable and fixed costs involved. Our target market is price-sensitive, but we have an advantage because as our costs increase, the cost of individually driving to the mountains increases even more due to economies of scale. Therefore, our goal is to find a balance between our costs and the price of individual driving through our pricing strategy. For advertising on buses, Partial Bus Advertisement will cost $3,000 per year, while Full Bus Advertisement will cost $5,000 per year. With these prices, we aim to offer comparable value to magazine ads that many of our sponsors are familiar with. The pricing is determined by considering the potential number of people who will see the ad on 1-70 or passing by in parking lots. Feedback from companies in the industry has led us to explore joint advertisements on vehicles as well. For example, we may partner a ski manufacturer with a shop that sells their products for joint advertising opportunities.Our website is the main platform for ticket sales in e-commerce due to its convenience and lower costs compared to physical sales locations. In addition to ticket sales, Shred Sled's website includes sponsor links, sponsor news, and updates related to skiing/snowboarding such as snow reports, terrain park reports, and upcoming events. We regularly update the website to encourage repeat visits. Our communication strategy focuses on advertising efforts at the University of Colorado campus and Boulder high school campuses. To reach our target market at CU, we will establish relationships with student groups and teams like the Ski and Snowboard Club at CU, the CU Snowboard Team, the CU Freestyle Ski Team, the Outdoor Program, and the Herd. We plan to distribute informational flyers and stickers to these clubs' offices, attend their meetings and events for further distribution of materials, and have a link to our website on their website. Word of mouth will also play an important role in our advertising approach. For Boulder high school campuses, we aim to target both students and parents by posting flyers on campus twice a month during ski season. Additionally, we plan to advertise in monthly PTA newsletters from October to February.Our communication strategy will heavily rely on e-commerce, as our website will provide comprehensive information about Shred Sled's features, benefits, prices, and general details. We plan to establish reciprocal links with CU clubs' and teams' websites, where they will have links to our website while we have links to theirs. Additionally, we aim to be mentioned in the Ski and Snowboard Club's weekly emails. To further promote our brand, we will incorporate outdoor advertising by placing Shred Sled logos on all of our vehicles. The cost of advertising will be covered by the companies sponsoring these vehicles. In terms of sales strategy, customers can create profiles with email restrictions on our website. If all seats are reserved for a trip, customers can join a waitlist and cancellations must be sent by noon the day before departure. In case of cancellations when all seats are reserved, we will notify the first person on the waitlist. At Shred Sled, credit card payments made through our website are the only accepted form of payment. For customer support or any issues they may encounter, customers can find a dedicated email address on our website. One major risk we face is potential denial of our application by the Colorado Public Utilities Commission. To operate as a commercial transportation company in Colorado and become a "common carrier," approval from this public board is required since new bus companies are considered utilities.To minimize the risk of existing bus companies contesting our application and claiming they already serve this market, we will ensure that our application is highly specific. This will make it less appealing to currently operating bus companies and more challenging for them to argue against their current market coverage. Shred Sled also faces a risk due to its reliance on one client for summer operations. In order to reduce this dependency, management must actively search for additional revenue streams. One potential stream involves offering advertising space on mobile vehicles that drive around busy areas during traffic hours for 8 to 14 hours a day. The success of this venture relies on studying traffic patterns in the city. Rates for this service can be charged based on a minimum number of hours per week or month, and may vary depending on the route, event, and specific services provided (such as GPS, driver, illumination, fuel, and number of billboards). This mobile billboard service can also be utilized by events like product rollouts or marketing events to reach a wider audience and enhance branding. Shred Sled's objective is to improve customers' mountain rides by providing a convenient and enjoyable alternative to driving. Their shuttles are equipped with entertainment features and spacious seating for a stylish and relaxing experience.Shred Sled's operational strategy focuses on providing comfortable transportation to the mountains while ensuring convenience through a simple two-step sign-up process on their user-friendly website. Customers can quickly reserve their ride online, selecting pick-up locations and departure times. Shred Sled has designated two pick-up locations: Williams Village (CU dorm off Campus) and campus Parking Lot 308 across from Regent Administrative Center, chosen for their suitability. Pick-up times are at 8:00 am and 8:15 am, with departure for the slopes set at 8:30 am. According to survey data, 39% of our target market prefers leaving for the mountains between 8:00 am and 9:00 am, making our departure times valuable for customers. Shred Sled conveniently drops-off passengers directly at the resort entrance, eliminating the hassle of parking, paying for it, and walking or taking a bus to the entrance. At 3:45 pm, Shred Sled begins picking up passengers at the resort entrance and departs for Boulder at 4:00 pm. This ensures that riders have enough time to fully enjoy a day shredding on the mountain. To access the Shred Sled Schedule, please refer to Appendix F Table 1. The initial scope of operations for Shred Sled involves leasing buses and storing them in a rented warehouse located outside of Boulder (Louisville/Superior area).Leasing buses is a strategic decision that reduces start-up costs and overhead expenses for the company. After the first year, there are plans to purchase new buses. Inkmonstr or another graphic design firm will wrap sponsor logos on the buses, while a separate company will outfit the interior. Specialized bus maintenance technicians will handle regular maintenance, while Shred Sled staff will manage all other aspects of operation and maintenance. It is crucial for all staff members to have strong connections to the skiing/snowboarding industry and knowledge about current trends in these sports. Sales exclusively occur on our internally developed and managed website to reinforce our image as a "core" company. The website includes a calendar displaying available operating dates for Shred Sled, allowing users to select a date, view shuttle routes, and check availability. Users can then proceed with purchasing tickets for their desired shuttle. If a shuttle has reached maximum capacity, there will be a notification indicating it is sold-out. Shred Sled's primary partners include high school and college clubs and student groups such as the Ski and Snowboard Club, Snowboard Team, Freestyle Ski Team, Alumni Association, Outdoor Program, and Backcountry Club at CU.These organizations are a perfect fit for Shred Sled's target market. By closely collaborating with each group, Shred Sled can meet their specific needs and maintain customer loyalty. Moreover, Shred Sled has arrangements with various groups to provide group transportation for trips, competitions, and events. They also offer special pricing incentives for members of these groups. Additionally, Shred Sled aims to establish strategic alliances with ski areas such as Breckenridge Keystone Vail Resorts Inc., which are all owned by Vail Resorts Inc. This single agreement will allow them to obtain special permits for all areas, bringing benefits like preferred parking and lift incentives. Furthermore, Shred Sled has partnered with the Boulder Outdoor Center to offer summer trips. In exchange for these trips on specific days (Fridays, Saturdays, and Sundays), the Boulder Outdoor Center will pay a predetermined fee to Shred Sled. To meet their sales forecast based on winter season capacity requirements, it is necessary for each bus operated by Shred Sled to have an average occupancy of 90% per trip. Each bus has a maximum seating capacity of twenty-five seats; hence they must have an average of twenty-three occupied seats per trip. Initially, the company leases three buses to fulfill this inventory requirement. In the second year, they plan to lease one new bus and purchase another one.Shred Sled plans to purchase four new buses by years three and four. These buses are stored in a rented warehouse in the Boulder area for protection purposes, while maintenance is outsourced elsewhere. The initial staff of Shred Sled includes Taylor, Chris, Courtney, and Brad. Taylor, Chris, and Courtney work as drivers for the vans, while Brad handles business logistics and website maintenance. As the company expands its operations and strengthens its marketing efforts over time, more drivers will be hired so that owners can focus on expansion instead of driving duties. Prospective new drivers must have a clean driving record and obtain a commercial vehicle license. They will be paid $10 per hour for approximately six hours per trip. Vehicle maintenance tasks are outsourced to local mechanics. When referring to "inventory," Shred Sled specifically means the available "seats" offered to customers in their services provided. The company has a fleet of three buses, each with a capacity of twenty-five passengers. These buses operate three times a week, resulting in a total inventory of 225 seats per week (25 seats x 3 buses = 75 seats; 75 seats x 3 times/week = 225 available seats per week), which is the maximum capacity. To accommodate customers when a bus is full, Shred Sled offers a waitlist for reservations.The cost of insurance for each bus is $7,000 per year and provides coverage of $1.5 million as required by Colorado law (quoted by TIB Insurance). Maintaining an average capacity of 90% during winter months and 80% during summer months is crucial for achieving projected revenues at Shred Sled. This requires focusing on promotion, market penetration, and exploring opportunities for group sales and subsidies from campus organizations. To ensure high capacity during low demand periods, Shred Sled must operate three trips per bus per week. During peak season, more frequent trips are scheduled while fewer trips are scheduled at the beginning and end of the snow season. In the summer months, the Boulder Outdoor Center will schedule an average of six bus trips per week. Shred Sled provides food and beverages for these trips and expects to sell approximately $30 worth of products per round trip. These items can be easily stored and have a profit margin ranging from 75% to 100%. Approximately one-third of advertisers will choose full bus advertising while the remaining two-thirds will opt for partial bus advertising. A complete sponsorship costs $5,000 per year and a partial sponsorship is priced at $3,000. Both sponsorships cover the cost of wrapping the bus with the sponsor's logo and adding additional equipment.By implementing a concentrated but cost-effective promotional strategy, Shred Sled can acquire customers for approximately $0.3 each, particularly through student groups at the University of Colorado campus. Once acquired, each customer is expected to generate an average of $100 in annual revenues (equivalent to 5 rides). Mobile Billboards present an attractive option for foreign franchisees and companies looking to showcase their products as they have the potential to reach over 1.5 million people per month. This method allows growing businesses to capture people's attention without the need to ensure public awareness of their advertised product. The attention-grabbing trucks offer a unique perspective to everyone on the road, increasing the likelihood that drivers or those stuck in traffic will read the truck ahead instead of a sign located kilometers away.