Ammo needed to set up a Transit ad agency

Discussion in 'Growing and Managing a Business' started by tombig01, Apr 30, 2010.

  1. tombig01

    tombig01
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    We in a team of 5 are trying to enter a new venture by creating a transit ad agency of ours. We are all amateurs as regard to our new initiative and we lack experience. But why we are so upbeat about this idea is because transit advertising is one of the most sought-after advertising media by companies in India and the place where we reside in India is now prospering and developing with new establishments and companies but as such there are no credible transit ad agencies here So if we are able to put up an effective show here then might be tasting success in terms of growth and revenues won’t be that far. But this is all prescience and we are still short of ideas in giving this business plan a go ahead. In simple terms perceive me as a layman asking you people to suggest ideas that would help us in establishing our business. We would be extremely grateful if you people can provide some inputs. Thanking you in anticipation.
     
  2. Kay

    Kay
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    Welcome to the Business Advice Forum, tombig01. Can you explain please what transit advertising is and how it works? It's not a term I'm familiar with.

    When you say it's big business, have you looked into how other existing companies approach this to see what you can learn from their tactics and how you'll differentiate yourself from them?

    What funding do you have in place? Do you have a business plan? Please share as much detail as possible. The more you tell us, the more we can help.

    P.S.There's 5 of you. It would be good to sort out from the outset who's in charge, who's ultimately responsible for any debts incurred, and what the pecking order is, amongst other things. If there is to be no leader and all are considered equal (nice idea but probably impractical in the long run), get a contract drawn up to say that to prevent issues later. Whatever is decided, put it in black and white. Expect power struggles and prepare for that today and not at some vague time in the future.
     
    #2 Kay, May 1, 2010
    Last edited: May 1, 2010
  3. seanstevens

    seanstevens
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    As above, could you provide some more details on the business. I notice you mention that it is in high demand, have you done some market research on this? Have companies expressed interest in the idea?
     

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