momentex - plan de negocios - spanish

8/10/2019 Momentex - Plan de Negocios - Spanish

1/24

Momentex LLC Plan de Negocios

Resumen Ejecutivo

Imagnese ... usted ha estado conduciendo por una carretera de peaje, y que tienen sed. Al

acercarse a un rea de servicio, se tiene en cuenta parar para una bebida. Sin embargo,cuando se piensa en el momento de salir de la autopista se sumar a su viaje, usted deciderenunciar el desvo de 10 minutos y para seguir conduciendo, sed insaciable. ... Como ustedpaga su peaje, te das cuenta de que usted tiene la opcin de utilizar el servicio de Gulp yGOSM comprar una bebida fra, pagar por la bebida y el nmero de vctimas, al mismo tiempo,y lo han dispensado a usted a la derecha en la peaje. Usted tiene su dinero en la mano, y lasbebidas mira refrescante. Basta pensar .. compraras? Momentex ha identificado unaimportante oportunidad de mercado y ha desarrollado un nuevo servicio diseado para capturareste mercado como la primera empresa de mudanzas. El mercado tiene un enorme potencialglobal ... incluso con slo el 10 por ciento de los usuarios de las autopistas estadounidensescompran una bebida, oportunidades de ingresos anuales son ms de $ 600 millones. Gulp yGOSM, un servicio Momentex, ofrece pedido automatizado bebida, la facturacin y la entregaen las cabinas de peaje y otros lugares donde un conductor ya ha emprendido en unatransaccin monetaria. Este sistema de distribucin de bebidas de alta tecnologa adapta lastecnologas existentes para satisfacer las necesidades (comodidad, rapidez, seguridad,capacidad, y la interfaz de software) de los operadores y conductores de autopistas de peaje.Momentex supervisa las operaciones de comercio minorista controlador de interfaz mientrasque la externalizacin de algunas funciones, como la recarga del dispensador. Momentexproporciona relaciones pblicas y servicios de marketing para facilitar la adopcin de Gulp & Goy aumentar las tasas de uso, servicio integral al cliente, lo que crea un bucle deretroalimentacin para asegurar el uso continuo, y la integracin de sistemas, para disear el

proceso de servicio. La siguiente tabla resume el paquete de servicios Gulp & Go. (1)Momentex desarrolla y gestiona el sistema de bebidas peaje, trabajando con los operadores deautopistas de peaje y los integradores de sistemas (2) contratos Momentex con un servicio dedatos inalmbrico de auditora remota y control de inventario (3) Momentex analiza los datosrecibidos a travs de Internet y transmite informacin para gestin de bebidas (4) Momentexsupervisa la gestin del mercado de bebidas proceso Potencial externalizada. En unaestimacin ms conservadora, con base en una tasa de compra de un 2%, una bebida puedefijar un precio de $ 1.25, y las transacciones de peaje estadounidenses anuales 4250000000,los ingresos anuales se estima en $ 128 millones 1. Compra tarifa por peaje con servicio Gulp& GoServiceavailability%oftotaltollboothsAnnualRevenuePotential($MM)40%$128$255$510$765$1,02030%$96$191$383$574$76520%$64$128$255$383$51010%$32$64$128$191$2555%$16$32$64$96$1285%10%20%30%40%1

Gulp & Go Potencial. Adems de la participacin en el mercado estadounidense Momentexcaptura como un primer motor, existe un gran potencial de expansin internacional, as comolas oportunidades de ingresos adicionales a partir de la publicidad en los dispensadores ycontratos exclusivos con empresas de bebidas que pueden atraer una "derechos-fees".


2/24

Momentex tambin anticipa que su sistema de distribucin propietaria proporcionar unaplataforma para otras oportunidades de comercio minorista controlador de interfaz, como en lagasolinera o en el garaje. La rentabilidad y flujo de caja atractiva. Con mrgenes brutosatractivos y volumen significativo, Momentex asegurar una alta rentabilidad, reduciendo almnimo los costos de operacin a travs de la externalizacin de actividades no centrales.

Como las carreteras de peaje operan continuamente y proporcionan un flujo constante de losconductores, Momentex anticipa que su modelo de negocio Gulp & Go ofrecer flujos deefectivo altos y consistentes. Momentex anticipa un crecimiento de ingresos anual de 342% (de6 aos CAGR) y un EBITDA tras ao 6 de 39.300.000 dlares. Estado de Resultados IngresosBeverage Comisiones por Ventas y Ventas Impuesto Total Ingresos Gastos Gastos GastosMaterias Primas operativos Investigacin y Desarrollo de las utilidades operativas ImpuestosBeneficio Neto 1.999 50.465 (11.102) 39.363 12.112 374.939 469.500 854.051 (814.688)276.994 (537.694) 2.000 3.095.518 (681.014) 2.414.504 742.924 4,534,601 400,000 5,677,526(3,263,022) 1,109,427 (2,153,594) 2001 26909900 (5.920.178) 20.989.722 6.458.3768.939.114 400.000 15.797.490 5.192.231 (1.765.359) 3.426.873 2.002 69.860.379 (15.369.283)54.491.095 16.300.755 9.297.322 400.000 25.998.078 28.493.018 (9.687.626) 18.805.39277.491.282 2003 (17.048.082) 60.443.200 18.081.299 8.041.672 400.000 26.522.97133.920.229 (11.532.878) 22.387.351 2004 85.517.164 (18.813.776) 66.703.388 19.954.0058.417.283 400.000 28.771.288 37.932.100 (12.896.914) 25.035.186 Tendencias. Momentex hadiseado su servicio Gulp & Go capitalizar tres tendencias principales: (1) los conductoresestn cada vez ms dispuestos a utilizar los servicios que proporcionan un mayor nivel decomodidad; (2) como operadores de autopistas de peaje se hacen ms lucrativa de mente ymenos burocrtica, que estn buscando nuevas oportunidades de negocio que tanto aumentarsus ganancias y mejorar la satisfaccin del cliente; y (3) la intensa competencia entre lasempresas de bebidas ha llevado a estas empresas para colocar una importancia creciente en elimpulso (una sola porcin) los canales de distribucin. Valor a los clientes. Gulp & Go es

atractivo para los conductores, operadores de autopistas, y las empresas de bebidas. ValoranDrivers Gulp & Go de conveniencia y atributos que permiten ahorrar tiempo. Gulp & Go permitea los operadores de autopistas de peaje para aumentar la rentabilidad y la satisfaccin delcliente. Momentex espera que las empresas de bebidas para dar la bienvenida la oportunidadde aumentar las ventas y obtener acceso a los clientes sin tener que desarrollar losconocimientos internos de los sistemas de peaje. Estrategia Venture.

Momentex primero proteger un sitio de demostracin en una carretera de peaje ms pequeo yluego lanzar el servicio Gulp & Go en lugares peaje comercialmente atractivas en todo EstadosUnidos.

En el mediano plazo, Momentex ampliar sus servicios mediante el desarrollo de otrasplataformas Gulp & Go y ampliar su gama de productos ms all de las bebidas.

Objetivos a largo plazo de Momentex son desarrollar oportunidades de controlador interfazminoristas adicionales mediante la anticipacin de la llegada de las distintas tecnologasinalmbricas.


3/24

Equipo de Gestin. El equipo Momentex formado por profesionales con experiencia enasesora financiera, estrategia, desarrollo de negocios, gestin de procesos de servicio, y lasindustrias de transporte. 2Melissa Chadwick --Como presidente y director financiero, Sra. Chadwick se centra en eldesarrollo de negocios, financiamiento y comercializacin. Ella tiene varios aos de experiencia

en finanzas corporativas y asesora financiera y un MBA de The Wharton School. Zafar Khan -Como consejero delegado, el Sr. Khan se centra en el desarrollo de negocios y operaciones.Cuenta con varios aos de estrategia, asuntos pblicos y experiencia en la industria y un MBAde The Wharton School. David Smith -Como Director de Operaciones, el Sr. Smith estparticipando activamente en el desarrollo de hardware prototipo y optimizar el proceso deservicio. Cuenta con varios aos de estrategia y gestin de procesos de experiencia y segraduar en 1999 con un MBA de The Wharton School. Paul Glaab -Como Director deDesarrollo de Canales, el Sr. Glaab ser responsable del desarrollo de la estrategia poltica y laobtencin de puntos de apoyo dentro de las agencias de peaje. l tiene 30 aos de experienciatrabajando en el desarrollo de canales y asuntos gubernamentales de la California DOT, unaagencia de autopistas de California, y la asociacin de autopistas internacional (IBTTA).(Contrato en negociacin). Adems, Momentex ha establecido una red de expertos queaconsejan en reas tales como (1) la entrega del producto automatizado, (2) el desarrollo eintegracin de sistemas, (3) la iniciativa empresarial, (5) el modelado de trfico, y ( 6) dinmicade la industria de peaje. Necesidades de financiamiento. Momentex ha comenzadonegociaciones preliminares para un sitio de demostracin con dos autopistas privadas, elDulles Greenway (ubicado en Virginia) y Agencias de Transporte del Corredor (ubicadas enCalifornia). Para lograr la aprobacin de un sitio de demostracin, Momentex anticipa que unamanifestacin fsica de hardware prototipo ser necesario y busca capital para financiar losgastos de investigacin y desarrollo vinculados con la operacin piloto de prototipos ysubsiguiente. Inversin Requerida y uso del capital. Momentex busca un compromiso de $ 2

millones para financiar hardware prototipo y desarrollo de software, integracin de sistemas,marketing educativo, los gastos operativos y los gastos legales para un sitio de demostracin yoperacin piloto. Esta inversin posicionar la compaa para lanzar operaciones de lasprincipales carreteras de peaje. Estrategia de retirada. Momentex planea hacer crecer elnegocio hasta que sea bien recibido por los mercados pblicos, a continuacin, utilizar unaoferta pblica inicial como una salida. Una segunda oportunidad de salida es a travs de loscompradores estratgicos como bebidas o servicios de peaje empresas. Sede. 34 Lee Street,Cambridge, MA 02139. Telfono: 877.868.4857. Gulp y GOSM Highlights fuerte potencial , demercado sin explotar enorme Financiera --4.25 millones de potenciales oportunidades decompra en los Estados Unidos El margen bruto de alta, alto volumen Operaciones

escalables --nationally, internacionalmente Alta, flujos de caja predecible potencial --revenuede 600 dlares millones en el 10% tasa de xito flujos de ingresos adicionales de publicidad y

"honorarios de los derechos" negocio IPOable basado en empresas pblicas comparables de

alta rentabilidad de la inversin flujo de ingresos Temprana Baja inversin de capital de 3

Alta salida potenciales mltiplos --value voluntad "salto" despus Momentex logra hitosoperacionales (conseguir contratos, prueba de concepto, el inicio de operaciones). Bajos costosde marketing


4/24

Alta visibilidad y exposicin a dirigirse a los clientes las 24 horas / da, 7 das por semana

base de clientes cautiva

mtodo Bajo costo de crear --Momentex reconocimiento de marca es esencialmente la compra deacceso a los clientes de las carreteras de peaje, dando las carreteras un porcentaje de los

ingresos. Estructura de la comisin propuesta por Momentex se basa en la cantidad decompras, y no en la exposicin total del conductor. Aspectos Servicionico Proceso de servicioy hardware especializado est pendiente de patente Captura una nueva pieza de punto de venta al por menor de bienes races con el flujo de

clientes garantizada Establece un nuevo canal de distribucin --potential vender e introducir otros productos Cumple un consumidor bsico necesitar -Mejora la satisfaccin del cliente y la experiencia deconduccin Esencial pero las funciones que no agregan valor pueden ser subcontratados atractiva

oportunidad de inversin modelo de negocio viable --tangible, nueva integracin de la tecnologa off-the-shelf Bajo riesgo, alto potencial de crecimiento a largo plazo con contratos -una vez operacionesson probados y adoptaron negocio de alta visibilidad

Nuevos usos conceptuales --rewarding

Usos de capital

Asegurar el compromiso de los ejecutivos de autopistas

Negociaciones con mltiples partes

Hardware y software de desarrollo

Desarrollar y sitio de demostracin de pruebas Demostrar trfico insignificante impacto

Desarrollar y probar las operaciones piloto early adopter Educar a los conductores sobre el servicio

1 Transaccin estimacin Sistemas Inteligentes de Transporte 1998 de la empresa IntroduccinMomentex LLC fue fundada para aprovechar las oportunidades de comercio minorista mediantela creacin de nuevos canales de distribucin que permiten la venta de artculos de bebidas,refrigerios y entretenimiento a un pblico previamente servido bajo-: los conductores deautomviles. Momentex es una empresa de marketing y el servicio que se esfuerza por ofrecerltimo Conveniencesm para los conductores. Momentex logra este objetivo mediante lacomprensin de las necesidades del cliente, la identificacin y la creacin de nuevos canalesde distribucin orientada de conveniencia, y por lo tanto, el avance de la evolucin de losservicios de controladores. El primer canal que Momentex ha desarrollado para el conductor dela interfaz comercio minorista est en las cabinas de peaje, bajo la marca "Gulp & Go". 4Gulp & Go. Servicio piedra angular de Momentex, Gulp y GoSM, permite a los conductores acomprar bebidas enlatadas en lugares donde el conductor ya ha emprendido en unatransaccin monetaria, tales como el pago de un peaje. Momentex anticipa Gulp & Go


5/24

proporcionarn una plataforma bsica para la venta al por menor conductor-interfaz ysignificativas oportunidades adicionales se derivarn de este modelo de negocio.


6/24

Beneficios de inversin.

El negocio Gulp & Go proporcionar apreciacin valor significativo para los accionistas.

mercado sin explotar ofrece Gulp & Go con grandes perspectivas de crecimiento; Caractersticas de Conveniencia y compra de impulso promueven oportunidades de alto

margen flujo de trfico continuo, de gran volumen en el peaje carreterasproporcionan fuertescaractersticas de generacin de efectivo; Las posiciones de diseo de proyectos de inversin de capital bajo para un alto retorno de la

inversin; Los "honorarios" derechos de distribucin exclusiva y selectiva oportunidades depublicidadaumentan el alza de los ingresos. Estrategia y objetivos. Momentex se esfuerza por ser elprimero en el mercado con su servicio bsico Gulp & Go, controlar el espacio al por menor enel punto de venta en el peaje, y aprovechar las relaciones existentes para facilitar un rolloservicio nacional fuera. En el corto plazo, Momentex lanzar servicio Gulp & Go en el mercadoatractivos lugares de autopistas en todo Estados Unidos. En el mediano plazo, Momentexampliar su gama de servicios mediante el desarrollo de otras plataformas para su servicio deGulp & Go, como en la gasolinera y garaje. Adems, Momentex buscar desarrollar an mssu relacin con los proveedores de bebidas y ampliar su gama de productos ms all de lasbebidas. Objetivos a largo plazo de Momentex son desarrollar oportunidades de controladorinterfaz minoristas adicionales mediante la anticipacin de la llegada de las tecnologasinalmbricas innovadoras. Origen e Historia El Gulp & Go concepto fue concebido por ZafarKhan, director general, en 1996 mientras conduca desde Washington, DC a Filadelfia, seapresuraron a hacer una clase de las 9:00 am en The Wharton School. Hambrientos y

sedientos, sin tiempo para tomarse un refresco, Khan se detuvo en una plaza de peaje en laRuta 95. Durante la parada en el peaje a pagar el peaje, cartera en mano, Khan pens, "nosera genial si pudiera conseguir mis refrescos aqu ... sin retardo de tiempo. " Despus dedescribir el escenario a sus compaeros y amigos familiarizadas con los viajes por carretera enel noreste, cada uno pareca comentario, "si Gulp & Go estaba all, claro, yo lo uso todo eltiempo!" La gente hablaba de la compra de impulso, la compra por aburrimiento, la planificacinanticipada para comprar en el peaje ... "definitivamente me conseguira al menos una vez ...posiblemente muchas veces en un solo viaje." 2 Khan estaba convencido de que haba unsegmento de conductores que valorara este servicio ... pero que las autopistas aceptar estainnovacin? Wharton compaeros de clase Zafar Khan y Melissa Chadwick queran probar lareputacin burocrtica de los altos ejecutivos de las principales carreteras de peaje. Para lograresto, decidieron emprender un, 5.000 millas de un mes "road show" de Massachusetts a Floriday tan al oeste como Iowa ... con un puntal clave, una, cartn y madera de balsa modelo hecho amano , que representa el servicio Gulp & Go en una plaza de peaje. La respuesta fueenergizante ... "Me gusta mucho el concepto. Es tan claro, sin embargo, nadie ha consideradoque es ... Me imagino en el futuro que va a estar en todas partes y nadie lo pensara dos vecesantes de usarlo, "exclam Bill Thorp, director de Finanzas de la Florida Turnpike. "Es un 'pancomido' -alta potencial de volumen ... y podra integrar a la derecha en nuestro sistema de


7/24

peaje electrnico," Leonard Fornier, un director en el Massachusetts Turnpike afirm despusde caminar a travs de una plaza de peaje previendo Gulp & Go en su lugar. Khan y Chadwickpudieron ver la demanda de los conductores y la aceptacin por parte de las carreteras depeaje ... pero era posible construirlo? Al final del ao 1998, se determin que el servicio Gulp &Go podra instalarse con xito en el peaje y se haba incorporado la empresa, las operaciones

de refinado y automatizado el proceso de servicio, diseos de hardware desarrollados, yprotegida la propiedad intelectual clave. Actualmente, el equipo est trabajando con DavidSmith, un MBA de Wharton, para revisar el plan de negocios para las oportunidades definanciacin, las operaciones de preparacin para 5programas piloto, y prepararse para las negociaciones de la alianza. Hasta la fecha, Chadwicky Khan han auto-financiado el negocio. Estado actual Momentex est desarrollando unprototipo de trabajo y busca capital para financiar los gastos de investigacin y desarrollorelacionados con el funcionamiento del prototipo y piloto. Momentex LLC ha presentado en elestado de Massachusetts como una sociedad de responsabilidad limitada (LLC) y su ao fiscalest basado en el ao calendario. Sede se encuentran en 34 Lee Street, Cambridge, MA 02139(877-868-4857). 2 grupos de enfoque, graduados de Wharton, 1998 Descripcin del ServicioImagnese ... usted ha estado conduciendo por una carretera de peaje, y que tienen sed,medida que se acerca un rea servir, considere la posibilidad de parar para una bebida. Sinembargo, cuando se piensa en el momento de salir de la autopista se sumar a su viaje, usteddecide renunciar el desvo de 10 minutos y para seguir conduciendo, sed insaciable. ... Comousted paga su peaje, te das cuenta de que usted tiene la opcin de utilizar el servicio de Gulp yGOSM comprar una bebida fra, pagar por la bebida y el nmero de vctimas, al mismo tiempo,y lo han dispensado a usted a la derecha en la peaje, Usted tiene su dinero en la mano, y lasbebidas mira refrescante. Basta pensar ... qu comprar? Caractersticas Momentex traeservicio Gulp & Go a los conductores y operadores de autopistas, proporcionando experienciaen actividades comerciales que son clave para una implementacin exitosa, mientras que la

externalizacin de funciones no esenciales que no son competencias bsicas. Momentex creeque actualmente posee o puede desarrollar las seis competencias bsicas fundamentales parasu xito.

KeyBusinessActivitiesUnderstanddrivers'needs&designservicestomeetcriterianeedsSecureexclusiverighttosellonlocationandmanagesuppliersanddeliverymethodsOverseedevelopmentandimplementationofautomatedservicesdriverneeds&trendsOverseeintegrationintoelectronicandtraditionalpaymentsystemsmanagement,marketing&brandingOptimizetrafficflowthroughservicedesignandcomputersimulationSupervisesystemsmaintenanceandbeveragemanagementDesignprogramstoeducatedriversandinstitutionalizeserviceMarketservicetotime-sensitivedriverstoincreasepurchaseratesTrainandmotivatesitestaffwhointerfacewiththesystemCoreCompetenciesIdentifyingemergingdriver/customerPinpointingnewdistributionchannelsDesigningservicestocapitalizeuponCreatingvaluethroughdataDesigningoptimalsystemsintegrationNegotiatingandstructuringalliancesService Descripcin 6servicio Gulp & Go Momentex ofrece comodidad del conductor, permitiendo a los conductores acomprar y recibir inmediatamente los elementos, a travs de un proceso automatizado, en loslugares en los que ya estn obligados a detener -tollbooths. Puntos de presencia. Momentexdirige a las plazas de peaje de servicio completo dentro de los 35 estados que operan las


8/24

carreteras de peaje. Momentex utiliza modelos de simulacin de trfico y datos decontroladores para seleccionar las plazas ms adecuadas basadas en la demografa, elvolumen de la plaza, y la congestin del trfico. Oferta de productos. Momentex ofrecerbebidas enlatadas. Como un proceso simple decisin es importante para evitar interrupcionesen el flujo de trfico de tres a cinco selecciones de bebidas estarn disponibles e incluirn una

cola y una cola de la dieta. Precio del producto. Estudio de mercado indica que los conductoresestn dispuestos a pagar una prima por la conveniencia de Gulp & Go. Momentex anticipa almenos una prima de precio 25-90% sobre el precio de tienda de conveniencia bebida habitual(un 0,80 dlar lata de refresco podra vender por $ 1.00 a $ 1.50). Ordenando bebidas. Losconductores seleccionan sus bebidas en la mesa de recaudacin de peaje a travs de undiseo ergonmico, interfaz de pedido de fcil utilizacin.

Pago. El pago se produce al mismo tiempo que los conductores pagan sus peajes. Momentexha desarrollado el servicio de incorporar telepeaje (ETC) de sistemas, proporcionando de estemodo no slo pago en efectivo al recaudador de impuestos, sino tambin el pago electrnico atravs de transpondedor ETC. Entrega de Bebidas. Drivers alcanzar sus bebidas ordenadas enun dispensador de Gulp & Go, que se encuentra a dos autos de distancia ms all de laestacin de peaje. Momentex ha diseado el dispensador de bebidas con un brazo detransporte especializado para facilitar la recuperacin rpida y acomodar mltiples bebidas.

GRADO DE DESARROLLO.

Momentex ha patentado el proceso de mecanismo de entrega de productos y servicios,desarroll el plan de ejecucin de la integracin y el software, y ha comenzado negociacionespreliminares para un sitio de demostracin con dos autopistas privadas, el Dulles Greenway(ubicado en Virginia) y Transportes Agencias de Corredor (que se encuentra en California).

Para lograr la aprobacin de un sitio de demostracin, Momentex est llevando a cabooperaciones de investigacin de mercado y refinacin adicionales. En marcha ConcepcinPrueba. El equipo Momentex ha llevado a cabo grupos de enfoque, encuestas y entrevistasextensas, cuestionando los interesados a todos los niveles dentro de todos los sectoresindustriales relacionados con su negocio. La siguiente tabla identifica el alcance de lasdiscusiones que influyeron en reas tales como la mquina y proceso de diseo, estructura demodelo de negocio, la planificacin de la negociacin, la estrategia de marketing, la evaluacinde la rentabilidad y viabilidad. En general, se celebraron varios niveles y rondas de entrevistasy reuniones cara a cara con cada uno de los siguientes grupos. Las entrevistas de investigaciny Concepcin Prueba Toll Road Operaciones Transp. Corredor (CA) Sistemas de ControlVerstil Dulles Greenway Tcnica Ciencias Aplicadas MA Turnpike Ergonoma ConsultorOrlando-Orange TransCore Acadmicos / Wharton Poltico Facultad MIT Facultad WhartonSBDC MA altavoz Bebidas / Dist. Los conductores de autopistas de peaje de transporteinteligentes. Coca Cola Encuesta de Usuario (100) Texas Instruments Pepsi MA conductorEntrevistas (30) Transp inteligente. de Am Virgin Cola CA Conductor Entrevistas (15) Wayne-Dresser Cadbury PA conductor Entrevistas Amtech Systems 7Gnty FL Turnpike NH NJ Turnpike Turnpike NY Thruway KS Turnpike IL autopista de peaje APTurnpike Dulles Toll Road TrMi Lockheed Martin IMS SAWNET pico interactivo del Ciclo de


9/24

Wada metal de Amrica ProModel / Simtech Prisma Mtodos Cuantitativos MA Casa StarbucksMA Senado Wittern Grupo Comits Transp MA VendSource me BTTA -Comercio Assoc.Cantina expendedora Industria Jubilados Real Mason & Martin Dixie Narco Cesari y McKennaSevamco Peck & Associates Crane (50) Grupos de enfoque (2) Sentinel ID MIT Transporte Ing.Continua Operaciones refinamiento. Dado que el sistema Gulp & Go integra componentes de

hardware y software existentes, Momentex trabaja para adaptar el diseo de procesos deservicio a las infraestructuras especficas de autopistas. Programa Piloto. Momentex hatrabajado con expertos de la industria de peaje, consultores de negocios, empresas demquinas expendedoras, abogados e ingenieros para crear un plan piloto de implementacindetallado para una serie de carreteras de peaje que han expresado un inters en una operacinpiloto Gulp & Go. El Dulles Greenway, por ejemplo, ha ofrecido los datos de operaciones y hacolocado Momentex en contacto con su integrador de sistemas. La Compaa tiene pedidoprototipo y dispensacin diseos de hardware y del sistema para facturacin automatizadaempujones en las transacciones electrnicas actuales. Consulte el hardware, software ydiseos de integracin en el apndice.

Posicin Propia y Barreras para entrada

Momentex ha diseado su modelo de negocio para crear barreras a la entrada de lacompetencia potencial y proporcionar Momentex con una ventaja competitiva. Amplitud deconocimientos y relaciones. Momentex ha pasado 18 meses la construccin de suconocimiento de los sistemas de peaje, las necesidades del conductor y de distribucin debebidas. Para aprovechar estos conocimientos, Momentex ha formado una red de asesoresque tienen amplia experiencia en estas reas clave y brindan la capacidad para desarrollar yasegurar una operacin piloto y eventual despliegue. Adems, la gestin Momentex haintroducido la plataforma de servicios Gulp & Go a numerosas carreteras de peaje y ha

comenzado a forjar relaciones con estos grupos y los polticos que sern fundamentales para eldespliegue nacional de la plataforma Gulp & Go. Tiempo y Costo de Desarrollo. Los costospara entrar en el mercado de destino incluyen tiempo y gastos para disear, desarrollar yfabricar el dispensador Gulp & Go y construir la infraestructura de servicios (instalacin,mantenimiento y gestin de inventario). Una empresa que entra en el mercado debe incurrir enesta inversin antes de experimentar los ingresos del proyecto. Complicado, ProductosIntegrada. Momentex cree que las grandes compaas de bebidas seran los participantes en elmercado ms probables. Sin embargo, para poner en prctica el modelo de negocio Gulp & Go,se necesita experiencia fuera de produccin de la bebida tradicional, distribucin ycomercializacin. Con la automatizacin y la integracin en clave de los sistemas de peaje auna ejecucin exitosa, las empresas de bebidas veran este servicio de alta tecnologa comofuera de su mbito de negocio. Ventaja competitiva. El servicio Gulp & Go crea un nuevorecurso escaso con valor econmico mediante la creacin de un nuevo canal de distribucinpara aprovechar una base de clientes cautivos y los bienes inmuebles existentes en la plaza depeaje.


10/24

Una vez Momentex instala la plataforma de servicios Gulp & Go en una cabina de peaje,Momentex bloquea el recursos y previene eficazmente la competencia debido a que las

limitaciones de espacio hacen que la introduccin de un servicio competidor poco prctico.

A medida que el desarrollador del modelo de negocio Gulp & Go, Momentex planea aprovechar

esta primera toma la delantera y la negociacin con las autoridades del peaje para garantizarlos derechos exclusivos de productos al por menor en los puntos de conductor-interface.

Barreras legales. Dada la competencia prevista, la compaa ha creado barreras legales ycontractuales a la entrada. Momentex ha diseado la plataforma de servicios Gulp & Go serautomatizado utilizando un proceso patentado. La plataforma est protegida a travs de unaserie de patentes y marcas de servicio de 1) el ordenamiento nico y el proceso de suministrode bebida eficiente, 2) la interfaz nica entrega del producto, 3) la integracin automatizada enpeaje y sistemas de pago electrnico, y 4) obra que mejora el concepto y crea una marca. Lasmarcas de servicio incluyen "Gulp & Go" y "Lo ltimo en comodidad" y dominios de Internetincluyen Momentex.com, GulpandGo.com y GulpNGo.com. Mercado y Estrategia de MarketingDescripcin del servicio de mercado El Gulp & Go crea un nuevo punto de contacto entre elsector de autopistas y la industria de bebidas. Gulp & Go ofrece estas industrias maduras enuna nueva fuente de ingresos. Toll Industria Road. Autopistas, aunque gobernadaprincipalmente por organizaciones estatales, se gestionan como empresas privadasresponsables de la explotacin de las autopistas y generar suficientes ingresos de peaje paracubrir sus costos de operaciones y servicio de la deuda. Contratistas de peaje, como el lder delmercado TransCore, instalar nuevas estaciones de peaje y los nuevos sistemas como el ETC ydeben una oferta competitiva para los nuevos proyectos. Servicio concesionarios plaza, comolder en el mercado de Host Marriott Services, suelen tener contratos a largo plazo para darservicio a la totalidad o parte de una autopista de peaje con los servicios fuera de la carretera.

Por lo general, los concesionarios pagan comisiones a autopistas que van desde 10% a 15%de los ingresos. Momentex mide el mercado para el servicio Gulp & Go en el nmero detransacciones de peaje, lo que refleja las oportunidades de compra de conductor. El nmero decabinas de peaje representa el mercado de punto de venta de bienes races para el servicioGulp & Go.StateTollsAnnualTransactionsPlazasTollboothsTransactions/BoothMajorTollOperatorsNYTollRoads787,000,000877902729NYThruway,MTANJTollRoads772,000,000777112975Turnpike,Highway,Transport.Auth.ILTollRoads626,000,000604503811HighwayAuthorityFloridaTollRoads500,000,000553304151Turnpike,ExpresswayAuth.TexasTollRoads230,000,000451603938NorthDallas,HarrisCountyCaliforniaTollRoads186,000,000351633126CalTrans,TCAMATollRoads170,000,000171203881TurnpikeAuthorityPATollRoads140,000,000181083551TurnpikeAuthorityNY-NJBridges/Tunnels114,000,0008774056PortAuthorityNY&NJTotalMajors3,525,000,0004022,9093320Others725,000,000806003311VA,OK,ORMD,ME,other(est.)Total4,250,000,0004823,5093,318UnitedStates(excludesint'lbridges)Source: IBTTA; Telepeaje y gestin del trfico Nota:"Las transacciones por Booth reflejan promedio diario de la Industria de Bebidas. La industriade bebidas de Estados Unidos, la distribucin de 230 mil millones can-equivalentes de refrescoal ao, es intensamente competitivo y est dominado por las empresas Coca-Cola Company yPepsiCo3 bebidas tpicamente se centran en la creacin, produccin y distribucin de los


11/24

jarabes de bebidas, los concentrados y bases de bebidas y el edificio marketing / marca debebidas. Embotelladores toman el concentrado sabor, se mezcla con 9edulcorante y agua, botella de los lquidos, y luego distribuirla a los minoristas o para suspropias mquinas expendedoras. Debido a la importancia de la distribucin, las empresas debebidas tpicamente poseen participaciones en el capital de las embotelladoras principales y

tambin pagan "comisiones de derechos", para el acceso exclusivo a clientes cautivos, a losque controlan ciertos canales de distribucin de claves.

Potencial de mercado

Con 3.500 puestos de peaje en 35 estados y ms de 4 mil millones de transacciones de peajeal ao, los Estados Unidos ofrece un importante potencial de mercado. A nivel internacional,otros 5 mil millones de transacciones de peaje se llevan a cabo anualmente en 9.500 puestosde peaje internacionales, lo que proporciona otra va para crecimiento sustancial.

Con una tasa de uso cerca de 10%, el potencial total de ingresos anuales para el servicio Gulp& Go en las autopistas se estima en ms la mitad de mil millones de dlares. En unaestimacin ms conservadora, con una tasa de utilizacin del 2% y un precio de $ 1.25 porbebida, el potencial de ingresos anual se estima en $ 128 million5,6. Una tasa de uso del 2%refleja dos cabinas de peaje en una plaza de diez stand que ofrecen servicio de Gulp & Go, yuno de cada diez conductores que se auto-selecciona estos carriles Gulp & Go peaje compran.Los proyectos piloto proporcionarn un mejor conocimiento de la tasa de adopcin de losconsumidores y el precio de sensibilidad real. Momentex espera que las tasas de uso paraaumentar la comodidad del conductor como de los servicios aumenta con el tiempo.EstimateofMarketPotentialCalculationNotesTollTransactionsTotaltolltransactions(35statesinU.S.)4.25billionSource:ElectronicTrafficManagementofITSTollbooths(US)3,509Source:IBTTA1996,E

T`TMAveragedailytolltransactionsperbooth3,318Calculation-notevariationexistsbylocationanddayofweekGulp&GoTransactionsPurchaseratepertollboothwithGulp&Goservice10%Estimateof1in10carsself-selectingaGulp&GolanepurchaseGulp&Godailytransactionsperboothwithservice332CalculationServiceavailability(%oftotaltollbooths)20%Estimateof2tollboothswithGulp&Goserviceper10laneplazaServiceavailability(4oftotaltollbooths)702CalculationGulp&Goannualtransactionestimate(US)85,000,000Calculationreflectinga2%hitratepertotaltolltransactionsRevenueDriversPurchasespertransaction1.2Estimateof1in5buyerspurchasing2drinksPriceperbeverage$1.25PricepremiumforconvenienceRevenueandProfitTotalannualrevenue$127,500,000CalculationExpectedgrossprofitmargin60%Estimate:20%tobottlerforgoods,15%totollroad,5%forrefillingGrossprofitpotential$76,500,000CalculationGrowth Motores de crecimiento de la empresa. Momentex crecer susingresos por (1) el aumento de las tasas de uso y (2) el aumento de puntos de servicio.Momentex se centrar primero en un esfuerzo de ventas para penetrar en el mercado de peajemediante la maximizacin de lugares que alojan el servicio, seguido de una campaa demarketing para aumentar las tasas de compra por peaje. Para lograr penetracin en elmercado, Momentex debe demostrar las ventajas econmicas del servicio Gulp & Go yconvencer a los operadores de autopistas de peaje que los consumidores van a utilizar elservicio si est instalado. Crecimiento del mercado. Los factores clave que afectan el


12/24

crecimiento en el mercado, medido en las transacciones de peaje, son los precios del gas, elcrecimiento del PIB y fuertes factores econmicos, la legislacin que permite los peajes en lasautopistas interestatales y nuevas 10carreteras de conveniencia privadas. El crecimiento adicional puede provenir de nuevosproductos, como los bocadillos, la expansin internacional de peaje (5 mil millones de

transacciones de peaje a nivel internacional), o la oportunidad de vender al por menor en otroslugares, como las cabinas de peaje de aparcamientos subterrneos y las islas de gas en lasestaciones de servicio y conveniencia stores7. Mercado Aceptacin, Tendencias y Necesidadestendencias actuales en la comodidad del conductor, la industria de peaje y la industria debebidas han creado una ventana de oportunidad para. Servicio Gulp & Go Momentex. Driversvalorarn Gulp & Go de conveniencia y atributos que permiten ahorrar tiempo. Concesionariasde autopistas aumentarn la rentabilidad y la satisfaccin del cliente. Los fabricantes debebidas darn la bienvenida a la oportunidad de aumentar los volmenes de ventas y ganaracceso a los clientes sin tener que desarrollar el conocimiento inhouse de sistemas de peaje.Comodidad del conductor. La investigacin indica que el 81% de los consumidores de hoyquieren ms simplicidad --y ms comodidad -ya que el tiempo se ha convertido en un tema tanen su lives.8 Con la poblacin y los avances en el restaurante "drive-thru", sistemas de sonido,comunicaciones celulares sensibles al tiempo de hoy y los sistemas de navegacin por satlite(GPS), es decir, el automvil se est transformando en una herramienta no slo para eltransporte tradicional, pero tambin restaurantes, entretenimiento, comunicacin y navegacin.Reconociendo la convergencia de la tecnologa y la necesidad del mercado, Momentex hadesarrollado el comercio minorista controlador interfaz para entregar ltimo Conveniencesm alos conductores mediante la adicin de venta al por menor automatizado para la cartera delconductor de accesorios que permiten ahorrar tiempo. Servicio Gulp & Go es un cambio decambio de fase en la evolucin de la comodidad del conductor. De los 160 millones deconductores de vehculos de pasajeros en las carreteras de Estados Unidos, los Gulp & Go

objetivos de servicio ambos conductores y pasajeros que tienen los siguientes atributos yaporten un valor a them9:

viajeros diarios. En lugar de hacer una parada extra en el camino al trabajo, seran adquirir

una bebida a su paso por el peaje, ahorro de tiempo y hassle.10 Familias. Familias con nios pequeos tendrn especialmente labienvenida a la presencia deGulp & Go, ya que elimina la tarea de llevar a los nios dentro y fuera de los asientos deseguridad y en stores. Viajeros de Negocios. Extremadamente sensible al tiempo, interesado en obtener

rpidamente una bebida para ayudarles a llegar a su siguiente cita o reunin. Estoicos. Este segmento, por lo general hombres, saben que su mejor tiempo para llegar a su

destino, y una vez en el camino, tratar de batir este rcord con determinacin. Este grupo evitaparadas innecesarias y dara la bienvenida a la opcin de comprar bebidas de donde sonobligatorias para detener no slo, sino tambin pasar money. Las mujeresy los ancianos. La investigacin ha demostrado que este segmento tienepreocupaciones acerca de las paradas innecesarias en la noche por razones de seguridad.Gulp & Go will provide these thirsty drivers with a safer alternative. Toll Industry Trends. Formany toll roads, increasing fees is a politically damaging method of increasing revenues. They


13/24

are under pressure to cover bond payments and increase spending on improvements to roadsand customer service.13 Therefore, to ensure viability, toll roads must look at methods ofcreating additional revenue or increasing driver usage.14 As one of the leaders of toll roadinnovation explains: "I am always thinking about new ways to make money." James Kerasiotes,Chairman of the Massachusetts Turnpike Authority The Gulp & Go service addresses both of

these needs by (1) adding an additional profit stream to the operator and (2) increasingcustomer satisfaction and the convenience of using the road vis a vis alternatives. In addition,recent federal legislation calls for each state to choose whether to increase revenue for highwayoperations by building toll plazas on existing interstate highways. This could yield a proliferationof toll plazas and increase the available real estate for Gulp & Go service. 11Beverage Industry Trends. As traditional distribution channels mature, the large beveragecompanies have begun to focus on the higher-margin and growing convenience channels. Withfierce competition among the major beverage companies, exclusive access to these distributionchannels has become a source of competitive advantage. The beverage companies are payingmulti-million dollar, multi-year "rights fees" for this exclusivity, often equating to $3-40 perpotential customer.15 Gulp & Go will provide value by offering the opportunity for exclusiveaccess to a new mass distribution channel, expanding the total size of the beverage market byreaching thirsty drivers. Market test results Momentex conducted a survey which documents (1)a need for the Gulp & Go service and (2) that customers are willing to pay a premium for theconvenience that the service offers. Momentex conducted a survey of toll road users over thepast two months and results are summarized in the Market Research appendix. Based upon115 toll road user respondents, we estimate that the usage of the Gulp & Go service by ourtarget market could be as high as 32%. (In our financial model, a usage rate of 10% is usedbased on more conservative scale factor of 0.25 vs. 0.75.) Refer to the Market Research TollSurvey appendix for details. The survey confirms our hypothesis that most drivers (73%) do notstop for a beverage while they are on the toll road due to lack of time. The fact that over 60% of

respondents do purchase a beverage on a regular basis during their commute to and from workindicates an opportunity to serve the needs of time sensitive customers. In addition, the surveyresults show that potential users consider the key attributes of Gulp & Go to be important: 88%of respondents rated convenience/speed as very important, 59% rated easy to use as veryimportant or somewhat important, and 56% rated beverage variety as very important orsomewhat important. The average price respondents are willing to pay for a 12 ounce beverageis $1.10, a 38% premium over the customary convenience store price. (Momentex anticipates aprice premium of 25-90% and uses $1.25 in financial models.) Competitive Position While nodirect competition currently exists, Momentex anticipates that once it introduces Gulp & Goservice, competition will develop. Opposition Potential. Competition, in the form of entry oropposition, will stem from companies whose revenue will be either significantly positively ornegatively impacted by Gulp & Go's new distribution channel. The degree of competition willdepend upon those companies' ability to respond to the introduction of Gulp & Go. Responseability would be measured by (1) level of past technological innovation; (2) degree of nationalpresence (potential or existing); (3) knowledge level of toll systems, drivers' needs, beveragedistribution; and 4) strength of toll authority relationships. Competitive Landscape. The diagrambelow depicts the competitive landscape for Gulp & Go service. Momentex believes thatcompanies whose market is expanded by Gulp & Go, such as the major beverage companies,


14/24

may attempt to enter the market. The major beverage companies, however, lack technologicalinnovation, knowledge of both toll systems and drivers' needs, and relationships with tollauthorities. Companies who perceive that their revenue would be threatened, such as serviceplaza concessionaires, may attempt to block the development of Gulp & Go. Whileconcessionaires do have relationships with toll authorities, their ability to leverage these

relationships to block an agreement between Momentex and a toll authority is debatable.Momentex's meetings with toll authorities indicate that often the toll authority andconcessionaire have tenuous relationships16. Momentex considers entry by Host Marriott, thelargest concessionaire, unlikely, as it has stated that toll roads are not its focused area forgrowth17 . For further details, refer to the Company and Competitor SWOT Analysis appendixfor a comparison of competitor strengths, weaknesses, opportunities and threats. 12Circle = Magnitude of "deep pockets" for project investment +/-depicts positive/negative revenueimpact Determinants of Response Ability Past innovation National presence Relationships

with multiple toll roads Knowledge (customer, bev. dist., toll systems) Sales and PromotionMomentex will market its Gulp & Go service to two target groups: collaborators and consumers.Collaborators control sites on which the Gulp & Go machine will be located. Consumers are theultimate users of the service. The rate of return on investment and consumer demand will drivethe purchase decision of collaborators. To achieve market penetration, Momentex mustdemonstrate the economic benefits of the Gulp & Go service and convince collaborators thatconsumers will use the service if installed. Momentex expects that all prospective customers willalready consume the beverages sold at the Gulp & Go machine through other channels. Ratherthan creating new beverage consumers, Momentex will provide existing beverage consumerswith a new, more convenient channel to purchase beverages. The marketing challenges areproviding the right products at the right price and educating consumers on how to use theservice. Attract Customers. First, by supplying drivers with the refreshing beverage of theirchoice, Momentex will attract customers by its Gulp & Go service. To create this draw,

Momentex will offer popular beverages and install signage along toll roads to trigger thirst. Tooptimize beverage selections, Momentex has conducted market research and understands whatits target market prefers. In addition, Momentex anticipates that the name-brand beveragesoffered will enhance the attractiveness of the Gulp & Go service. Momentex will also seek co-marketing opportunities with its beverage provider to further develop sales. 13Customer Education and Support. Momentex plans to conduct a pre-marketing campaign tointroduce the Gulp & Go service and to create consumer interest. The initial campaign willconsist of pamphlets or direct mailings to drivers in the area surrounding the toll road. Themarketing materials will fully explain the mechanics of the service and introduce a consumerfeedback loop for questions or complaints. Once Momentex installs Gulp & Go service in anarea, it will continue to educate drivers about the service through advertising spots in print andbroadcast press. Additionally, Momentex will continue to provide strong customer supportthrough both a website and a toll-free telephone number. Customer service will not only educatedrivers on the Gulp & Go service, but will also provide the avenue for rectifying any ordering orproduct problems. Refer to Marketing Plan Summary appendix. 3 1997 Figure. Hays,Constance L. "Bottlers Becoming Rivals To Vending-Sales Merchants," New York Times NewsService (1999). 4 IBTTA 1996, ETTM of ITS 1998. 5 Momentex focus groups, (1) WhartonGraduate, (2) UPENN Undergraduate, 1998. 6 Momentex market interviews, Philadelphia and


15/24

Boston area, 1998. 7 IBTTA 1996. 8 Convenience Store News, December 1998, 9 FederalHighway Administration, Selected Highway Statistics and Charts, October 1997. NationwidePersonal Transportation Survey, April 1998. 10 Momentex focus groups, (1) Wharton Graduate,(2) UPENN Undergraduate, 1998; Department of Transportation Nationwide PersonalTransportation Survey April 1998, 11 Ibid. 12 Momentex focus groups, (1) Wharton Graduate,

(2) UPENN Undergraduate, 1998. 13 Momentex interview with managers at MA Turnpike 1998.14 Momentex interviews with management at MA, PA, NY, FL, NJ, VA, DE toll roads 1998; thetoll industry trade association (IBTTA) 1998, TransCore 1998, TRMI 1998. 15 interviews withCoke, Pepsi 1999. 16 Jim Kane, Massachusetts Turnpike Authority 17 Host Marriott Services

Annual Report 1997; DLJ Equity Analyst Jake Fuller Business Model and Operations BusinessModel Momentex has designed the Gulp & Go business model to enable rapid penetration ofthe currently untapped driver-interface retailing market with minimal capital investment andlimited on-going personnel requirements. The real estate provider (toll road operator) providesthe right to use existing space and systems in exchange for Gulp & Go service and apercentage of revenue. The toll road's proposed commission will be based upon similar feespaid by service plaza concessionaires18. While not crucial to the viability of the business model,Momentex plans to contract with a major beverage company to secure its beverage supply andrefilling services. In addition, Momentex anticipates that the beverage companies will offer a"rights fee" for exclusive distribution and the potential for advertising. Momentex owns thedispenser and ordering hardware while the beverage company owns the inventory. The diagrambelow outlines the basic structure. Additional Revenue Opportunities. Momentex recognizes thatthe Gulp & Go platform provides advertising potential, both on the machines and possibly on thesignage. Momentex plans to lease this advertising space to either the beverage supplier orother companies interested in targeted advertising to drivers. Momentex will also seek co-marketing opportunities with companies, such as service plaza concessionaires, offeringcomplementary products or services. In addition, Momentex plans to explore revenue

opportunities via the Internet. Technology Opportunities. By the year 2000, virtually every majortoll road and service stations in 20 major markets will be equipped to charge customers'accounts through a seamless, and virtually timeless, electronic transaction19. In the future,Momentex anticipates that Gulp & Go's retail transactions will piggyback off these transponder-receiver payment systems to enable ordering retail products through the driver's on-boardcommunication transponder and have this order beamed to the retailing system as they pull intothe transaction area. By developing additional applications for this evolving technology, Gulp &14Go will become the backbone of a truly cutting-edge new distribution platform --high-tech driver-interface retailing. Operations Strategy Among key Momentex functions, the Company (1)develops and designs the Gulp & Go service, (2) launches and manages pilot operations, (3)collects and analyzes operations data to refine the service process, (4) markets andcommunicates to customers, and (5) negotiates for and implements roll out of service.Momentex manages expert contractors who conduct actual mechanical drawings, equipmentmanufacture, service installation, software integration, beverage refilling, and inventorymanagement. By leveraging the technical know-how, assets and organizational processes ofpartners, Momentex lowers its operating risk and reduces its capital investment. Operational

Activity and Resources. The following chart summarizes the key operational activities and the


16/24

partners/contractors that the Company plans to work with. Momentex will outsource theactivities which do not lead to a competitive advantage for the Company. Key criteria to identifyprospective partners are: (1) strategic fit; (2) quality of service; (3) service level (response timeto customer problems); (4) entrepreneurial management; (5) geographic market coverage; (6)price; and (7) technical proficiency. Operational Activity In-house Design machine Service

process design Pilot operation Data collection and analysis Customer education Roll-out serviceManage Contractors Manufacture machine Microprocessor design Install machine** Maintainand service machine Inventory management** Billing Internet Data collection, transmissionDescription Customer needs, concept design and testing Design service process flow andmaintenance Design, launch and manage pilot operations Analyze operations data. refineservice process market and communicate to customers negotiate for and implement roll-out ofservice Mechanical engineering and manufacturing Software and electrical engineering Tollsystems integration Electronics servicing Beverage distribution and route management Tollsystems integration Web development, hosting, maintenance Wireless data service PotentialContractors (Momentex) (Momentex) (Momentex) (Momentex) (Momentex) (Momentex)Technique, VendSource, Wittern Versatile Control Systems TransCore, TRMI, Lockheed MartinIMS Local contractor or toll system integrator Coke or Pepsi bottling company TransCore,Lockheed Martin IMS SawNet, Epic Cycle Interactive Isochron, Motorola Note -** Reflects keyactivity where a more formal alliance may exist. Plan for Service Roll Out To launch and roll outthe Gulp & Go service, Momentex will (1) win approval for a demonstration site, (2) strengthenestablished relationships with major toll road executives, (3) launch the pilot, (4) demonstrateworking model, live, to prospective toll road executives in anticipation of roll out, (5) negotiatecontracts and permission for demonstration sites at major toll roads, and (6) build-out operationson major roads. Pilot Approval. The process to win approval for a pilot operation, outlined below,differs for the different toll road categories; localized public/privates, private roads, and majorpublic turnpikes. With each of the three roads mentioned in the chart, Momentex is progressing

through Stage 2. PilotApprovalProcessLocalizedPublic/PrivatePrivateRoadMajorPublicRoad15Key Stages Stage I Political Goodwill Senior Executive Interest Stage 2 Operational ConceptTesting Systems Integrator Approval Labor Approval Driver Demand/Hit Rate Stage 3 SeniorExecutive Approval Contract Negotiation Trans. Corridor Agencies CalTrans, Local PoliticiansCEO, Director or Operations Traffic flow, site specifics Lockheed Martin IMS Not requiredSurvey of local drivers CEO Negotiate terms Dulles Greenway Not applicable CFO Traffic flow,site specifics TransCore Not required Survey of local drivers CFO Negotiate terms Mass PikeState Politicians Chairman Traffic, concessionnaires TransCore Labor Director & TeamstersSurvey of local drivers Chairman Negotiate terms Strengthen Established Relationships.Momentex has met with the senior executives of eight major toll roads, representing 32% of ourtarget market, to discuss the merit of Gulp & Go service on their roads. Each has expressedinterest in the service and looks forward to a physical demonstration of the pilot. Before a pilotoperation is implemented at a demonstration site, Momentex will refresh these relationships toemphasize the connection of d river-interface retailing with the Gulp & Go brand. Launch Pilot.

At a localized toll road, Momentex will launch a demonstration site as its first pilot operation.Momentex will collect and own the data from the pilot to further refine financial and operationalassumptions. Demonstrate Operations. With a working pilot operation, Momentex will have theopportunity to drive prospective toll road executives through the service so that they can


17/24

experience Gulp & Go's Ultimate Convenience first-hand. Negotiate with the Majors. Early in thepilot operation, Momentex will negotiate with the major toll roads (excess of 100 million annualtransactions) to implement a pilot on their road with the option to roll the service out. Build-outOperations on Major Roads. Roll out within a major toll road will involve a tailored pilotoperation, specific systems integration, demographic and traffic flow analyses, and an

awareness marketing campaign. Competitive Reaction. Momentex views the beveragecompanies as potential competitors, with the threat heightened if they are excluded from theGulp & Go distribution channel. For this reason, Momentex has designed the business model toattract an alliance with the strongest of the beverage companies and turn them into an ally. Bygaining exclusive rights to the toll roads, Momentex plans to pre-empt competitive threats.Contingency Plans. Momentex will monitor the political climate around toll road negotiations todetermine whether to develop and shift toward contingency plans. This could include a tighterrelationship with a major beverage company, a strong alliance with a systems integrator, orother strategic options to facilitate implementation of the Gulp & Go business model. Alliances.In the key areas listed below, Momentex formalizes relationships to leverage the existinginfrastructure and expertise while minimizing Momentex's capital investment. OperationalComplexity 16Gulp & Go integrates components of off-the-shelf technology to meet the demands or driver-interface retailing. Process Flow. The Company has designed a process flow to accommodateGulp & Go service in various toll system configurations. From the driver's perspective, theprocess flows as follows: Order Decision Gulp & Go Lane Selection Product Selection

Automated Ordering Toll & Product Payment Drive Forward to Pick-up Zone Next CarBegins Order Process Pick-up Beverage Re-enter Traffic The chart below depicts theoperations perspective. The front end of the Gulp & Go service involves the driver-interfacing atthe order and delivery points, as well as integration into the toll systems for automated payment.The wireless data service monitors inventory levels and dispenser performance, relaying

information at set periods throughout the day to the data service's central computer, which, inturn, posts the data to the Momentex Intranet via the Internet. Beverage management analyzesthis inventory and monitoring data to optimize refilling routes and machine maintenance. In thechart below, potential outsource and development partners are indicated for driver-interfaceretailing at the tollbooth. Hardware Design and Software Integration. Momentex, along with itscontracted partners, will design and develop a customized casing and ordering interface toenable efficient product order and delivery to drivers. The casing will house an off-the-shelfbeverage dispensing machine and the ordering interface will be linked to the central processingunit that controls the Gulp & Go system operations. Software process flow has been designed tolimit change to the current toll systems. The Gulp & Go central processing units will package thetransaction information and relay it to the toll lane computer for toll lane functionality and auditreporting. Refer to the appendices for detailed schematics of the hardware designs, capabilities,and software integration flow. Pilot Development Cost Estimates Service Component OrderingInterface Control Panel & Microprocessor Product Dispenser (off-the-shelf base) BaseDispenser Modifications Product Delivery arm Dispenser Casing & Artwork Wireless DataService First & -Second Stage Internet Site Hardware Installation Software Integration (Non-ETC) Software Integration (ETC) Testing Operations Total Development $6,000 $30,000 $5,000$7,500 $9,000 $15,000 $4,000 $45,000 $6,000 $60, 000 $150,000 $180,000 $457,500 Source


18/24

& Notes Versatile, Technique Applied Sciences Versatile Control Systems Wittern Group WadaMetal of America, VendSource Technique Applied Sciences Technique Applied SciencesIsochron, DEX Epic Cycle Interactive TRMI TRMI, Lockheed Martin IMS, TransCore TRMI,Lockheed Martin IMS, TransCore Lockheed Martin IMS 17

Audit and Reconciliation. The retail operations are audited in two channels, through the current

toll plaza computer software and via wireless data service inventory monitoring. Beverage salerevenue is recorded in tandem, with weekly reconciliation of toll revenue versus retail revenue.The toll road retains an agreed percentage of gross revenues. Process Design. Beverageordering and pick-up are de-coupled to minimize traffic impact, as the time to pick up abeverage is less than the time to order and pay. De-coupling occurs by locating the dispensertwo car lengths beyond the tollbooth on the end of the tollbooth island. Momentex hasconducted on-road, timed simulations to test this concept. In addition, toll collector training isgeared toward increasing toll fare and beverage fee collection efficiency to maximizethroughput. Optimize Traffic Throughput. Momentex has used queuing theory, computersimulation, and animation to model the traffic flow with and without Gulp & Go service at thetollbooth. Computer simulation enables an understanding of the impact on the transactionprocessing time and the capacity/demand relationship at different periods throughout the dayand week. Prior to roll out of Gulp & Go service, Momentex will model each toll plazaindependently to account for distinct traffic patterns. The simulation model has been designed ina partnership with ProModel representatives, SimTech and Prism Quantitative Methods. Referto the Traffic Flow appendix. Inventory Management and Control. To ensure well stocked andhigh performing dispensers, wireless data service interfaces with the dispenser and themanagement software via the Internet, allowing dispensers to be monitored closely from theMomentex central office. Wireless data companies such as AES, Isochron, or Cellemetry arefavored for their transmission capabilities, including broad geographic coverage and in somecases, a particular focus on the vending industry. Refer to the Internet Integration appendix for

details. Dispenser Refilling and Route Design. Upon roll out, Momentex will outsource beveragedispenser refilling and maintenance and has incorporated the latest inventory and logisticstechnology into its operational plan to facilitate this process and provide an audit trail. Thedispenser design will allow the route driver to drive into the lane during off-peak hours, close thelane temporarily, and refill the dispenser from the truck parked next to it. With the opportunity fordaily maintenance and the absence of money acceptors (which contribute to 90% ofmalfunctions), Momentex anticipates infrequent machine breakdowns20 . Route design willcenter on maximizing efficiency and minimizing expense. Route drivers will be responsible fordispenser refilling and simple preventive maintenance, and their daily route will be determinedby tracking the number of cans sold each day at each location through the wireless datasystem. Quality Control. Momentex has designed its operations to ensure seamless integrationinto existing systems, efficient beverage delivery, and quick acceptance by drivers. In theunlikely event of a problem, Momentex has built the necessary infrastructure, processes, andfeedback loops to address issues. Refer to the Quality Control and Trouble Shooting appendixfor details. 18 10 -15% based on MA, PA Turnpike Marriott contracts 19 Momentex interviewswith management at MA. PA, NY, FL NJ, VA, DE toll roads 1998 the toll industry tradeassociation (IBTTA) 1998: Wayne-Dresser website 1999 20 The Wittern Group 1998 andCanteen Vending 1999. Management Momentex is founded by individuals with breadth and


19/24

depth of experience in the key areas of finance, marketing, operations, negotiations andstrategy. The Gulp & Go business model requires skill in negotiation and marketing because thesuccess of the business hinges upon securing locations to install the Gulp & Go system. Due tothe high profit potential and the competitive nature of the beverage industry, negotiationexpertise must be coupled with strategy and finance skills. Since a new dispenser will have to

be designed and integrated into the existing information systems, skills and experience in 18engineering and information technology will be necessary. Lastly, as the Gulp & Go serviceinvolves flows of traffic and multiple locations, expertise in operations and management will alsobe critical. The table below outlines key skills that are necessary to turn Gulp & Go into asuccessful long-term business and rates capabilities in these areas. Key Skills Management &Strategy Negotiation & Sales Operations Marketing & Channel Development InformationSystems & Automation Engineering Finance Knowledge of Beverage Dist. Management HighHigh Medium High Low Low High High Advisor Network High High High -High Medium -HighOutsourced --High -Medium High --Overall Capability High High High High High Medium HighHigh To accommodate this range of expertise, Momentex's in-house capabilities are enhancedthrough advisor and contractor relationships. The organizational structure is outlined in thefollowing chart. Management Team Melissa Chadwick-President and Chief Financial Officer.Ms. Chadwick focuses on business development, finance and marketing as well as coordinatingthe raising of the Company's first round of funding. She has been with Momentex sinceinception in 1998. Ms. Chadwick worked as an investment banker with Lehman Brothers andMcDaniels SA In these positions, she met capital raising goals for both public and private sectorclients and implemented growth strategies for them through her involvement in research,valuation and negotiations for several acquisitions. She holds a Masters of Arts degree ininternational relations and a Bachelor of Arts degree in economics from the University ofChicago, and recently completed a Masters of Business Administration degree in finance andentrepreneurial management from The Wharton School at the University of Pennsylvania. Zafar

Khan -Chief Executive Officer. Mr. Khan focuses on strategy, operations and developingpartnerships with venture stakeholders. He has established a high quality advisor andconsultant network and has designed-the service process. He has been with Momentex sinceinception in 1998. Mr. Khan worked as a strategy consultant for Braxton Associates/DeloitteConsulting. In addition, as a manager for a chemical industry trade association, he helpedbusinesses adapt technologies and develop new business lines, and interacted with federalgovernment on the industry's behalf. He holds a Bachelor of Arts degree in biology andpsychology from Wesleyan University and recently graduated with a Masters of Business

Administration degree in finance and entrepreneurial management from The Wharton School atthe University of Pennsylvania. David Smith -Director of Operations. Mr. Smith is activelyengaged in developing prototype hardware, optimizing the service process, and refining thebusiness model. He joined the Momentex team at year-end 1998. Mr. Smith has. worked as astrategy consultant with Bain & Company and a business advisor with Price Waterhouse LLPwhere he consulted firms in a wide range of industries on process management, businessplanning, and internal control procedures. He holds a Bachelor of Arts in economics and aBachelor of Business Administration in accounting and international business from theUniversity of 19


20/24

Texas at Austin and will graduate in 1999 with a Masters of Business Administration degree inmarketing and operations from The Wharton School at the University of Pennsylvania. PaulGlaab -Director of Channel Development. Mr. Glaab will be responsible for developing politicalstrategy and gaining footholds within toll agencies. He anticipates joining Momentex in 1999(contract under negotiation). Mr. Glaab has over 30 years of experience working in channel

development and government affairs for the California Department of Transportation,Transportation Corridor Agencies (a California private toll road agency), the international tollroad association (IBTTA), and Continental Airlines. During this time, he has successfully (1)launched the marketing program for the nations largest privately-funded public toll road, (2)spearheaded legislative efforts for critical toll industry legislation, and (3) managed negotiationsfor major CalTrans development projects. He holds a Bachelor of Arts degree in political sciencefrom California State University at Long Beach. Advisors Network The Company has sought andwill continue to seek guidance in development and execution from a group of advisorsexperienced in starting companies. Momentex's network of advisors have expertise in toll roadoperations, intelligent transportation, engineering, entrepreneurship, and operations. Currently,Momentex is searching for a beverage industry veteran to advise on beverage-related issues.Harry Hansen. Mr. Hansen advises on toll systems integration and intelligent transportationsystems. He is the Manager of Systems Development and Integration for Lockheed Martin IMSand manages all California electronic toll collection projects for Lockheed. He has nearly 10years of experience implementing Lockheed Martin technology into development projects and isone of the developers of their electronic toll collection system. Ian MacMillan. Mr. MacMillanadvises on entrepreneurial management matters. He is Executive Director of the Sol C. SniderEntrepreneurial Center and is a Professor of Entrepreneurial Studies at The Wharton School. Inaddition, he is the author of Corporate Venturing (Harvard Business School Press) andnumerous articles on organizational politics, new ventures, and strategy formulation. WilliamMiller. Mr. Miller advises on driver-related and toll industry matters. He was formerly Executive

Director of the Delaware River and Bay Authority and has been affiliated with the toll industrysince 1957. Also, he was the 1971 President of the International Bridge, Tunnel, and Turnpike

Association (IBTTA) and voted "l 994 Engineer of the Year" by the American Society of HighwayEngineers, Joseph Sussman. Mr. Sussman advises on "intelligent transportation" matters. He isa Professor of civil and environmental engineering at MIT and on the Board of Directors forIntelligent Transportation Systems of America. Karl Ulrich. Mr. Ulrich advises on productdevelopment matters. He is an Associate Professor of operations and information managementat The Wharton School. He is co-author of Product Design and Development (McGraw Hill) andhas participated on development teams for products ranging from snack foods to surgicalinstruments, John Woodruff. Mr. Woodruff advises on driver-related and toll industry matters. Hewas formerly Director of Engineering and Planning / Chief Engineer for the Delaware River Port

Authority. He was also the 1987 President of IBTTA and currently serves on the IBTTA Past-Presidents Advisory Council. Summary Financials 20Key Assumptions The financial projections model the basic Gulp & Go service at the tollboothand do not account for revenue from "rights fees," product expansion, or additional serviceplatforms. The specific critical assumptions are highlighted in the appendix. Momentex assumesthat a pilot begins in September 1999 and the first state will be rolled out at the beginning of2000. Revenue Drivers. Key drivers for revenues are the number of locations with Gulp & Go


21/24


22/24

Momentex will seek an additional $2 million in mid to late 2000 to fund rapid national expansion.Investment Potential Momentex anticipates the Gulp & Go service has a strong investmentpotential with 6 year revenue growth projected at 342% compounded annually. (Momentex usesa 6 year horizon as 1999 is a stub year.) In addition, EBITDA for year 6 is projected at$39,320,000. Based on an EBITDA multiple of 8x21 and a 15% IPO discount, Momentex's 6

year valuation is estimated $315 million. An example of equity investment value appreciationbased on firm valuation follows. In the middle EBITDA scenario, a $100,000 first roundinvestment for 1.1% of equity is anticipated to be valued at $3 million at the end of year 5 at thetime of the anticipated initial public offering. This reflects a 5 year compound annual return onthe initial investment of 80%, assuming that the equity is non-dilutive. Sensitivity of Investor's

Annual Return2005EBITDAMultipleHitRate3%4%5%6%7.063%72%81%86%8.067%76%85%90%9.070%79%88%94%In the case of a strategic investor or buyer, equity value could increase dramaticallyas these buyers typically pay premiums of 25% or more. Financing History Momentex LLC waslaunched in August 1998 with a $20,000 start-up investment in January 1999 by the Companyfounders, Melissa Chadwick and Zafar Khan. The founders were each awarded 50% equity for22their initial investment. To date, the venture has received no outside investment and prior to theensuing first round, they have retained 100% of the equity combined. Exit Strategy investors inMomentex LLC would be able to realize a return on the appreciation of their investment underthe following scenarios: Initial Public Offering. If Momentex meets growth expectations anddemonstrates cash flow and earnings characteristics attractive to the public markets, theCompany may seek a public offering to raise capital for further rapid expansion as well as toadd liquidity for founders and investors. Momentex anticipates that the high visibility of Gulp &Go service would create strong retail demand for the offering. Rapid expansion in servicelocations will help Momentex to penetrate the market with Gulp & Go service, which if fully-

penetrated by Momentex would achieve an attractive annual revenue stream in excess of $600million, reflecting 10% of toll road users purchasing. If, for example, Gulp & Go service hasbroader availability, exposing more drivers to the service, annual revenues will near $1 billionwith 15% of toll road users purchasing. In addition, Momentex views international toll roads,concentrated in Japan and Europe, as a significant source for expansion, with a combinedmarket estimated to be 20% larger than the US market. Investment or Acquisition by a StrategicPlayer. Momentex believes that there are a number of beverage companies who would bepotential investors or buyers for the Gulp & Go service platform as it offers an alreadydeveloped operating model for a new distribution channel which can lock out competition andprovides a pipeline for new service and product introductions. With the major beveragecompanies such as Coca-Cola and PepsiCo investing in equity of its bottlers (distributors), theymay view an investment in Momentex as a method of securing access to a new distributionchannel. In addition, Cadbury Schweppes and Virgin Cola may see this investment as a methodof increasing the reach of their struggling beverage brands. Nestle and Starbucks may seeMomentex as providing an ideal method to increase the popularity of their packaged coffeesthrough mass distribution within the Gulp & Go service to commuters on the roads. Momentexalso believes that companies in the related areas of service plaza concessions and toll roadsystems integration would also be possible investors or acquirers. Service plaza


23/24

concessionaires may view the Gulp & Go platform as an exciting new service offering whichcould provide the key differentiator in bidding for toll road concession contracts. Toll roadsystems operators, too, may consider the service as an attractive offering and a way todistinguish itself from other bidders. 21 Sodexho Marriott, Host Marriott Comparables. RiskFactors Managerial 1. Real Estate Use Approvals. As the Company must have the right to

operate at toll plazas, its success in securing a pilot operation is dependent upon toll roadapprovals. With a limited operating history and bureaucratic management of some roads, therecan be no assurance that the Company can secure such approvals quickly. To mitigate this,Momentex not only works with an influential network, but also understands the needs of the tollroad operators and the benefits the Gulp & Go service brings to them. 2. Market Acceptance ofToll Plaza Retailing. Gulp & Go beverage service is an innovation that will be dependent upondriver adoption for its success. The Company's marketing and public relations campaign isdesigned to educate drivers and publicize the availability and convenience of Gulp & Goservice. Market research indicates that the Gulp & Go target market segment is 23amenable to innovation but there can be no assurance of driver adoption of the service. Tomitigate this, Momentex will conduct thorough market research on each road before roll out toidentify local price and time sensitivity, and beverage selection preferences. 3. DependenceUpon Exclusivity. The business model is based upon the key assumption that Momentex canacquire exclusive rights from toll roads to retail products at points of driver interface. WhileMomentex has established relationships with the ten largest toll authorities in the United States,there is no assurance that it will be able to secure exclusive retailing contracts with theseentities. To mitigate this, Momentex will continue to prove the operational model through livedemonstrations and model the value it adds to specific roads. 4. Limited Track Record. TheCompany believes that it has assembled a management team with breadth and depth ofexpertise, yet has limited experience working together. To mitigate this, Momentex understandsthe needs of management and advisors and uses a strong team-based management style. 5.

Competition. While the Company will take every step to protect its proprietary business model,there can be no assurance that competition will not ensue. The Company's potentialcompetitors are much larger, with more resources, -and may have market power. To mitigatethis, Momentex will form alliances with chief "deep pocket" competitor threats. 6. Labor Force. Incertain toll configurations, the Company must develop an arrangement where the toll collectorswill also process beverage orders in full service lanes. This will require a discussion with the tollauthority as well as the Teamsters Union. It is possible that the union may demand that the tollcollectors' job classifications be changed to accommodate the addition of Gulp & Go service.Demands such as these could add significant delay to or otherwise impede the pilotimplementation or the ensuing roll-out. To mitigate this, Momentex aims to tie-in ideas of localworkers and avoid surprising the local unions. 7. Cannibalization. In some configurations, thetoll authority or food service providers at service plazas may perceive the Gulp & Go service ascannibalizing upon their sales. With market research demonstrating that restrooms are thelargest draw to service plazas, and Gulp & Go providing more fluids and caffeine (a diuretic) todrivers, restroom stops at service plazas may increase, adding to their total foot traffic. Tomitigate this, Momentex will relay the value proposition to stakeholders and understand theirconcerns. 8. Potential Legislation. In some states, there have been referendums to eliminatetolls on turnpikes. While initiatives such these are unlikely to be approved because of existing


24/24

bondholder claims to future toll revenues, proposals such as these draw negative publicity to tollroads. Additionally, as toll authorities begin to raise funds through increased commercial use ofthe toll authority land, the public might see this as improper use of government resources. Tollauthorities need only suggest the alternative of raising taxes, and most will prefer thecommercialization of the land to generate the necessary revenues. To mitigate this, Momentex

will monitor and use proactive tactics to influence new legislation. 9. Politics. If people startwriting letters to their state representatives complaining about the Gulp & Go service, it maybecome a politically bad endeavor, regardless of how economically attractive it is. To mitigatethis, Momentex will perform a detailed traffic analysis to localize service design and will performa strategic driver education program prior to implementation, 0perational 1. Traffic Flow. TheCompany must ensure that its service does not increase traffic delays at the toll plazas.Momentex will use computer simulation and determine the optimal plaza configuration toaccommodate Gulp & Go. However, there is no assurance that all traffic flow issues can beanticipated and adequately resolved. To mitigate this, Momentex will model plaza specific trafficflow using a proprietary computer simulation. 2. Technology. There are potential operationalobstacles to instituting Gulp & Go service at toll plazas. In addition to modifying existingsoftware, there are hardware requirements for beverage selection and dispensing. Until thesesystems are developed and tested, as well as during ongoing operations, they will pose thepotential for technological uncertainty. To mitigate this, Momentex will contract to establishedtoll systems integrators to integrate/install and thoroughly 24test the Gulp & Go service before installation and throughout pilot operation. In addition,Momentex will service the equipment frequently during on-going operations. 3. Safety andLiability. While the Company has developed Gulp & Go service to address safety issues, theCompany has no assurance that safety issues will not arise. The Company plans to haveliability insurance to cover expected risk. To mitigate this, Momentex has designed the servicewith features and a process to enhance safety. 4. Seasonality of Revenues. The Company

expects that its operations will be concentrated in the Northeast portion of the United States. Asa result, revenues may fluctuate with seasonal temperatures. To mitigate this, Momentex willlook at offering service in stable climates such as California and Florida. 5. Intellectual PropertyRisk. The Company's ability to compete is in part dependent on resources to protect andenforce Momentex's intellectual property rights. To mitigate this, Momentex will monitorinfractions on its intellectual property and design a situation specific strategy with legal counselto approach each infringement. 6. Dependence Upon Third Parties. With certain functionsoutsourced, the Company could become dependent upon certain contractors and be exposed toopportunistic renegotiations. To mitigate this, Momentex will aim to align incentives andcontinue discussions with their competitors. Appendices (not provided for this exercise) 1.Market research survey 2. Hardware integration 3. Software integration 4. Internet integration 5.Traffic flow analysis 6. Income statement 7. Balance sheet 8. Cash flow statement 25

momentex - plan de negocios - spanish

Documents