You face a problem typical to all start-ups - you have developed a brilliant product, but do not have the resources to bring it into the market. The wheelchair designed by you for children with impaired mobility has many advantages over the competition. To reiterate these:
However, this is a small number when compared with the reported 4.5 million children who suffer from disabilities. So why do wheelchairs not sell to more children who need them The primary reason seems to be the high cost and the short period of usefulness of the equipment.
If we consider the total number of children using wheelchairs and the age span of 8 years (14-6) that translates to less than 10,000 additional purchases each year, excepting of course, the replacements. As against this you have projected sales of 340; 5400; and 22,400 units in the first three years of operations - in a market that is growing at three percent anuually. This is not likely to go down well unless substantiated by other arguments.
The additional market for children suffering from muscular dystrophy needs to be explained in greater detail and supported by data. In the meanwhile, you ought to consider revising the investment proposal by reducing projected sales in the 2nd and 3rd years.
The wheelchair is a sign of ability impairment and may result in a lowering of self esteem and this will deter potential customers. The findings and recommendations of Doctors in that powered wheelchairs actually provide an impaired child with a sensory experience close to that of a normal child and improves their spatial skills and relations need to be highlighted in the promotion part of the marketing mix strategy. ...