Bloomfield Hills248-494-4486
Detroit313-757-4724

Business planning necessary to launch new SuperTrike idea

Before Chrysler was bought by Daimler, the company had plans to produce a car especially made for the Third World which utilized a two-piece body which had been injection molded out of specialized thermoplastic polyester. The company even went as far as to begin test production of the vehicle in Michigan, but ultimately the new vehicle was never brought to market. However, now an entrepreneur has came up with a new business planning idea for a lightweight vehicle that would utilize similar plastic technology.

The man's new idea is for a three-wheeled vehicle with a lightweight body made of thermoplastic composites. He explains that there are a large number of people who, when they reach approximately 45 to 50 years of age, begin to be interested in riding a motorcycle because they like the concept and potential enjoyment of riding in the open air. However, because many of these people do not have any previous motorcycle riding experience, they end up injuring themselves in accidents.

The entrepreneur believes his new idea will give these potential customers an alternative to purchasing a motorcycle. The man calls his new concept the SuperTrike, which he envisions would be much less expensive than the similar three-wheeled vehicle already on the market known as the Morgan. Additionally, through the use of new plastic technology, the SuperTrike will also be 100 pounds lighter than the Morgan.

However, just like any entrepreneur with a good idea in Michigan and elsewhere, the man will likely have to begin the business planning project in order to obtain venture capital necessary to start the project. A well-written business plan will assure potential investors that the entrepreneur's idea is financially viable and can make a profit. Also, it is important that the business plan takes into consideration applicable rules and regulations in order to ensure compliance, which could prevent future lawsuits and fines from regulating agencies.

Source: plasticstoday.com, " Entrepreneur eyes Chrysler CCV technology ," Doug Smock, July 8, 2013

Need Legal Advice?

To schedule a consultation, email or call us at 248-494-4486. Whether your case is a business law matter, a real estate transaction, an employment law matter or anything else, our law firm is ready to serve you.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close