Borrow My Tools is an innovative start-up that provides home improvement tools to rent or lease to the San Mateo community. Josh Taylor is the primary shareholder. The California S Corporation was formed to form the business. Borrow My Tools will provide customers with a variety of common home improvement tools and benchmarked customer service.

The Market

San Mateo’s two most important market segments are Borrow My Tools. The first segment is individuals who are undertaking a home improvement project on their house. While some of these customers know exactly what they need in terms of tools, many of them are coming to Borrow My Tools specifically for the expertise and guidance for the home improvement project. The group has 54,050 potential members. This segment sees an average growth rate of 5% each year. Handymen are those who have been hired by clients to finish a project. Borrow My Tools attracts handymen because they have many leasing and rental options. The handymen have 1,200 potential segment member and a 4% growth rate.

Services

Borrow My Tools offers a range tools for rent or lease. The tools are divided into three main groups: wood, exterior, or assorted. Borrow My Tools’ tools are all of the best quality and in exceptional condition. Borrow My Tools has developed a strategic relationship with a premier leasing company to allow customers to lease tools from them. Leasing can be advantageous in many ways. Customers have the latest and greatest tools to use, capital is not lost, lines of credit are not cut by leasing, and the lessee enjoys certain tax advantages.

Competitive Edge

Josh is an industry veteran from both the contractor market and the rental/leasing of tools. He’s taking his industry observations to create a niche in Borrow My Tools. He will emphasize two competitive edges that will help Borrow My Tools increase its market share.

• Best-quality product offerings Customers want the best tools for their needs. Borrow My Tools only purchases the best tools within each category. This ensures that customers are delighted with the choice. The products are maintained with great care so they look as new.
• Best customer service. The role of Borrow My Tools sales agents is to help customers in all possible ways. This includes determining which tool is best for the job, explaining the proper way to use the tool, as well as offering suggestion on how best to complete the job. Each sales representative is the customer’s personal expert. Borrow My Tools’ goal is to meet every customer’s needs.

Borrow My Tools – Borrow My Tools is an innovative new concept. It recognizes competitors’ customer service deficiencies and leverages Borrow My Tools’ incredible customer support to address those customers who want a positive experience with their rental or lease. Borrow My Tools is a start-up that will quickly gain market share.

Mission

Borrow My Tools’ mission is to offer the finest selection of home improvement tools for the San Mateo Community. Borrow My Tools provides the highest level of customer support. All customers will have their expectations exceeded.

Keys to Success

• Maintain a sufficient inventory of high-quality tools, kept in excellent condition.
• Make sure that all employees are well-versed in all available tools.
• Maintain strict inventory control and accounting controls. This will reduce overhead and assure availability.

Ziele

• To ensure that 70% of the tools are rented by the end of month seven.
• In the second year, reach profitability
• By year 2, you will be able to generate self-sustaining income.