SITUATION ANALYSIS
Industry
Safety Step International caters to a diverse customer base, servicing industries large and small. Some of the larger industries include:
- Airports / Ground Servicing Equipment
- Mining
- Oil & Gas
- Heavy Vehicles
- Manufacturing
- Schools / Universities
- Public Transport
- Hospitals & Clinics
Trusted Clients
- Their manufacturing pipeline is steady with a maximum 72-hour turnaround time from order to delivery out of Australia to Australasia, the Middle East and North America
- As health and safety standards evolve and tighten, new and existing client requests emerge
- Safety Step International’s composite products and custom-made solutions offer superior quality, durability and reliability in North America, Middle East and Australasia
- ESG (Environmental, Social & Governmental) scores are all positive
- Product demand remained steady over COVID-19 with a temporary slowdown in aviation only?
- Shipping and supply are currently the main issues for the Australian operations
| Key Performance Indicators | Safety Step Composite FRP | Folded Metal With Surface Coating | Extruded FRP with Surface Coating |
|---|---|---|---|
| Solid Anti-Slip Material with no Surface Coating | yes | no | no |
| Anti-Slip Grit Embedded Within Base Material | yes | no | no |
| Thickness of Anti-Slip Surface | 4 mm | 1 mm | 0.5 mm |
| Doesn't Delaminate, Peel or Lose Grit | yes | no | no |
| Cut and Drill on Site Without Initiating Product Failure | yes | no | yes |
| Able to Withstand Strong Chemical Attack | yes | no | no |
| High Tolerance to Heavy Impact | yes | no | no |
| Long Resistance to UV Exposure | yes | no | no |
| Suitable for Marine Environments | yes | no | yes |
| 100% Rust Proof | yes | no | yes |
| 100% Resistant to Galvanic Corrosion | yes | no | yes |
| Useful Life Expectancy | 5-8 Years | 8-12 Months | 3-6 Months |
| Warranty Period | Lifetime | 3-5 Years | None |
Competition
Lower quality anti-slip products exist worldwide, often consisting of a steel, aluminum or fiberglass base with paint and a chip coating for traction. Safety Step International manufactures a unique, composite material with the grit and a high-quality paint distributed. This provides durability and higher traction. Safety Step International quality avoids the usual wear and tear of the competition’s cheaper top coat solution that fades and dissolves over 1–4 years, thereby increasing maintenance and replacement costs. Safety Step International clients usually only require replacement product due to more stringent health and safety standards or for a newer look.
- North America: SAFEGUARD (USA); however, upon inspection at the Houston conference, SAFEGUARD’s quality is not as durable as SSI product thereby confirming the company can quickly corner the North American market++
- South East Asia: SCOTGRIP (UK based), CERAMABOND (Australian based), VIGIL ANTI-SLIP (Australian based). These are not composite based materials and lack the durability of Safety Step product.
- Middle East: SAFEGUARD TECHNOLOGIES (US based) and presumably cheaper Chinese manufactured products as the Middle Eastern market is strongly driven on price.
- Europe: The freight costs from Australia has prevented any market growth in Europe currently. Having a manufacturing base in North America will rectify this issue and help identify any competitors.
- Africa and Latin America: Anti-slip, underfoot traction devices in general are almost unknown in both of these markets. This was further reinforced at the 2022 OTC in Houston. Almost every visitor to the UBS booth, from either Latin/South America or Africa, had never seen an industrial stair nosing or step cover before. These are two huge markets that are prime for a motivated company to enter and gain a majority share. This will require creating base knowledge of the risks slip and fall accidents present and awareness of the solutions available by the end users and industry more wholly (not cutting corners with paint and sand as an example). It will also require identifying trustworthy and reliable re-sellers/distributors
- Cheaper made products are sold internationally but only remain effective for up to 12–18 months. Safety Step International products last anywhere from 5–20+ years.
- Price appears to be the main reason for loss to a competitor but clients who buy cheaper alternatives often come to Safety Step eventually due to Health and Safety standard requirements and long-term fiscal savings
- Safety Step will not compromise on the brand’s integrity by selling a cheaper option that will not last
- Safety Step International did patent another unique product, Adverstep, but found the patent path to be ultimately very long and unaffordable if they needed to defend their IP
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Multiple anti-slip competitors have similar names. This leads to market confusion but has also driven new sales for Safety Step International:
1. Require national and global reputation / brand recognition
2. Amplify brand and online presence
3. Improve sales, marketing & communication efficiencies in North America and new global markets
- Safety Step International must convey the level of value they bring to customers via regional statistics outlining the benefits including the reduction of accidents and death (which reduces loss of labor and escalated costs), durability of Safety Step/TRAX product compared to cheaper competitors, environmental sustainability and innovative custom-made solutions built to last.
Reputation
Safety Step International (SSI) is the only company in the world making a durable, composite anti-slip product. They guarantee:
- Barriers to replicating manufacturing methods – SSI composite products are all hand laid on custom-designed equipment
- Proven appeal to wildly diverse client sectors
- Commitment to environmental standards and sustainability
- Established reliability of both products and product profit margins
- Reputation of returning clients and word of mouth referrals
- Proven ability to replicate into larger and larger markets and model
- Operates on core values of quality, reliability, and honesty
