ReaXium Corp. | Application Preview
ReaXium Corp. is seeking $2.3 million in government grants to enhance its presence in Florida's school bus market. The funds will be allocated to expand the operations team, cover direct costs for in-house solutions, invest in capital expenditures, and augment development staff. The company aims to grow its school bus ridership service contracts from approximately 200 to 1,200 buses within five years, while also diversifying its services to include senior and employee transportation.
The grant funding is projected to help achieve $15.3 million in sales and establish ReaXium as the preferred provider in Florida. With a payback period of 4.5 years, a 26% total internal return, and a favorable lifetime value to customer acquisition cost ratio, the financial indicators support the request.
ReaXium faces competition from companies like SMARTtag, ZONAR, and Here Comes The Bus, which primarily operate outside Florida. However, ReaXium distinguishes itself by being the only provider in the state offering comprehensive school bus ridership solutions. The company's managed services approach eliminates the need for counties to invest in hardware and software, allowing them to sign contracts for the service.
By partnering with leading technology providers, ReaXium delivers reliable and advanced services, offering real-time tracking through its app, which assures parents and schools of their children's safety during transportation.
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General Information
Business Registration Number: 81-3135260
Location: Orlando, FL, United States
Length of Operation: 2016-today (4 years)
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
We are looking to increase our presence in the state of florida, in the school bus market sector by investing these funds in the following items: Increase the Operations Team: 970,692.00 Direct Costs associated to the solutions developed in-house: 433,188.00 CAPEX: 323,180.00 Development Teams staff augmentation: 407,537.00 OPEX: 88,713.00 Marketing & Business Dev: 83,868.00 Other SW Dev Services: R&D, Patents, Certifications, In-House Hosting, Information Protection, etc.
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Business Plan
We are looking to increase our actual business fingerprint by selling more School Bus Ridership service contracts to the county's fleets moving from ~200 school buses today to 1,200 in the next 5 years. We are also including in our projections to extend our secure transportation (Ridership) to other vertical markets like Seniors and Employees transportation services based in the same managed services solution and applications. We are seeking $2.3M so we can: Reach $15.3M in sales Be the preferred option in Florida Execute technology roadmap Our financial KPI shows the following: Payback of investment in 4.5 years TIR at 26% Year 5 LTV is 1.2 MMUS$ Year 5 CAC is 36K$ Year 5 LTV:CAC is 35.8x
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Self Identified Competition
We do have competitors but they operate outside of our Florida State, where we are the only ones offering our services portfolio to the School Bus Fleets; nevertheless these corporations represent important competition to us. The companies are: SMARTtag, which operates basically in Washington and Texas, but they offering can be compared to ours. It's a matter of time to see them bidding in Florida as well. ZONAR: They are a strong competitor, mostly outside of Florida, now looking to offer Ridership with still many limitations compared to us, as they are coming from fleet tracking and monitoring (GPS technology base) which is their core business many Florida School Bus fleets use this aspect of their offering. And, Here Comes The Bus, a division of Synovia (CalAmp) also operating outside of Florida State, but a strong competitor to Zonar in the GPS & Fleet Tracking services. Their flagship solution (here comes the bus) is an application to provide information to parents about the status of the school bus, very limited compared to ours. It work by County Level subscription, meaning without such subscription the parents cannot access to this App. We are the ONLY one Corporation offering the best School Bus Ridership Solution in the State of Florida, and potentially nationwide; with our managed services, real time dashboards, ability to produce results and with our ReaXium App to provide peace of mind to parents and Authorized Guardians, as well as the schools as we are able to send to the App the real time status of the bus on route, confirming the children is in the bus, confirming the children arrived safe to their schools and then to their home stops. We are a Florida based corporation, provided very customized solutions to the school bus fleets in the State. Our managed services approach allow the counties the need to invest in HW/SW but just sign a yearly or multi year contracts to enjoy our Ridership Solution and Management Services. We also partner with the best of breed technology service providers like TMobile & ATT, as well as Amazon Cloud, etc. to provide triple AAA class of services.
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Contact Applicant
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