Toogood Express LLC | Application Preview
Toogood Express LLC is seeking funding to eliminate existing debt and facilitate business expansion, specifically by hiring additional staff and acquiring a fleet of trucks. The total cost for expansion is $60,000, which will cover leasing trucks and trailers, developing a mobile application, and legal/registration fees, among other expenses.
As a New Jersey-based logistics company, Toogood Express provides services such as freight hauling and tracking for businesses nationwide. The goal of the expansion is twofold: to create a mobile app that allows clients to track their freight in real time, streamlining communication and reducing paperwork, and to acquire ownership of trucks to enhance logistics capabilities. They plan to start with several trucks and trailers and aim to expand to at least ten by the end of the second fiscal year, projecting a gross margin of around 60%.
The management team, led by owner Taj Toogood, includes seasoned professionals with extensive experience in logistics and trucking operations. This team is well-positioned to leverage existing relationships with major companies in the industry to secure more partnerships and drive business growth.
Toogood Express acknowledges the competitive nature of the trucking industry, where they compete against both local and national carriers. Their competitive advantage lies in their reputation for reliable service and their commitment to innovative technology with the mobile application. Partnering with Resolute Logistics, a company with significant experience and resources, will further enhance their capabilities in managing operations effectively and efficiently.
Overall, the funding will enable Toogood Express to expand its services and operational capacity, tapping into the growing logistics market while maintaining strong relationships with its partners.
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General Information
Business Registration Number: 85-3929396
Location: Elmont, NY, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
The funds will be used to pay off all of Toogood Express LLC existing debt and expand business by hiring more employees to help manage the day to day operations and aquire a fleet of trucks. Please find breakdown below: The cost of expansion is $60,000. The breakdown is as followed: • Trucks/trailers: $25,000(down, trucks and trailers will be leased) • Mobile Application: $15,000 (Mercury Development’s fee to make mobile application of the highest quality) • Attorney + Registration/Licensing fees: 10,000 • Loan+Debt payoff: 10,000 Total= $60,000
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Business Plan
Toogood Express is a medium sized logistics company based out of New Jersey. Toogood Express will serve businesses all across the United States with its, logistics management, freight hauling and freight tracking services. YES, THAT’S RIGHT! Through Toogood Express, businesses will now be able to track there freight the same way consumers track there Ubers as expansion becomes complete. Toogood Express has developed a reputation for its on-time and accurate service developing relationships in the trucking industry with some of the giants such as Hello Fresh, ShipMonk, and McLane Company just to name a few. The goal now is to expand and capitalize off of these relationships. Being that Toogood Express has been a major partner in such company’s day to day logistics, its safe to say we know exactly what they want and more importantly NEED. With this expansion we have two goals. One will be to create a mobile application. The other will be to own our trucks. Simple. Our mobile application will provide a software to track loads our partners will be hauling, allowing clients to align their businesses with Toogood Express services and scheduling automatically RIGHT THROUGH THERE PHONE and/or smart device. It must be stated that we are NOT a factoring company and will never be. A mobile application will eliminate paperwork, enable better communication between our company, our partners, & its drivers, and speed up the logistics process allowing Toogood Express to manage more trucks and form more partnerships. The second part of our expansion will be launched with 3 Power trucks, 2 reefers (refrigerated and temperature-controlled trailers), 1 dry van trailer, and will expand its operations to utilize a minimum of 10 trucks by the end of its second fiscal year, using money saved from the net income to finance further expansion. Gross margins will be around 60%, allowing for significant profit by the end of the first year alone. Toogood Express is managed by Taj Toogood, the sole owner. Upon expansion Toogood Express will be partnering with Resolute Logistics, a team of truck dispatchers and logistics coordinators, who combined have more than 40 YEARS of experience in the trucking industry and specialize in semi-trucks, Dry Van, Reefer, Flat Bed, and Step Deck trailers. The staff will be as followed: • Alex Green (Head of Operations): knows the logistics business inside and out and will be overseeing operations with Taj Toogood. He has 10+ years of experience in logistics and knows how to manage any issue pertaining with brokers, customers, and facilities. He will be in constant communication with Taj Toogood. • Vas Solo (Head of Legal and Finance): solves all the money and paperwork issues. He has 15+ years of various business experience. Through him we will get paid for delivered loads in the fastest way possible! • Elijah Harper (Dispatch Team Lead): he is obsessed with getting freight from point A to point B as quickly as possible. He leverages his 5+ years’ experience in the US freight market to guarantee loads get delivered safely, in great condition and ON TIME. Together, we have the experience needed to keep drivers on the road and operations running smoothly as our workload is scheduled to increase. Also, Taj Toogood has established top notch relationships with some of the biggest businesses around the industry such as Hello Fresh, McLane Company, Shop Rite and Ship Monk being he was an employee first before they became partners. Opportunities aren’t scarce for Toogood Express, our limited resources just prevent us from capitalizing on all of them.
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Self Identified Competition
The trucking industry is very competitive. Unlike restaurants, truck companies are not just competing against companies in the area because trucks aren’t limited on where they can go. Toogood Express will be competing with national and local carriers such as Ryder, New York Trucking Company and Corvette Trucking Inc. However, for the distances we intend to travel, and due to the few rail lines over the Eastern states, trucking is at an advantage. Shippers choose between trucking companies based on: • Their track record of on-time and accurate deliveries and accessibility. • Their price for shipping the load. • Their ability to partner with the shipper to offer logistics expertise and added service and their relationships with the brokers and/or companies. Toogood Express has developed a reputation for its on-time and accurate service developing relationships in the trucking industry with some of the giants such as Hello Fresh, ShipMonk, and McLane Company just to name a few. Our mobile application will provide a software to track loads our partners will be hauling, allowing clients to align their businesses with Toogood Express services and scheduling automatically RIGHT THROUGH THERE PHONE and/or smart device. It must be stated that we are NOT a factoring company and will never be. A mobile application will eliminate paperwork, enable better communication between our company, our partners, & its drivers, and speed up the logistics process as a whole allowing Toogood Express to manage more trucks and form more partnerships. Our experience will also play a major factor. Upon expansion, Toogood Express will be partnering with Resolute Logistics. Resolute Logistics is a major player in the logistics business managing over 132 trucks and maintaining relationships with the nations best brokers. Between us two, we’ll have over 40 YEARS combined in the industry!
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