cool-caps !!an invention which makes your life a little easier!! klair lubonja 11 th 16
Post on 21-Dec-2015
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TRANSCRIPT
Business Profile This business was selected because there are none like it out there, which
means that there is space to make a profit and to supply the consumer with a necessary product. Our mission is to provide convenience and a necessity at an affordable price.
Type of Business: Retail My product provides the consumer with convenience at an affordable
price. Simply put it’s a contraption that turns your can into a bottle.
Legal Structure: Sole Proprietorship The first couple of months would be used on the making of the product
which means that insurance isn't necessary, afterwards when the business is up and running I would choose sole proprietorship because I like doing things my way and I like having all the responsibility.
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Opportunity Opportunities
At least 29% of Americans drink a liquid from a can each day
It provides modern aspects such as the sleek design Consumers want convenience
Qualifications I have a background in business Achieved high grades in classes such as Marketing &
Mathematics I am currently attending a Business/Marketing class.
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Consumer Profile By Location
The location of my target market would generally include all cities in Connecticut
By Population
The age of the consumer would range from 18-45 years old,and they have some source of income
By Personality
The consumer generally would like to travel and they like taking interesting products like mine with them in their voyage
By Behavior
The consumer should be a loyal customer and they would not only be someone who buy’s the product for themselves but also for their friends and families
By Income
The consumer should be one that does not mind spending their money
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Competition
Competitive Advantage •Generally customers like things that come pre-made and ready to use.
•My product fulfills all of the costumer needs (convenience, affordability, reusability)
Competitor Price Quality Greatest Strength
Greatest Weakness
Buybottletop.com
(Can Top)$1.67 Good Convenient Easily breakable
Not a lot of options to choose fromOnly satisfies one need
Dollar Tree In
(Huggy) $1.00 Good Affordable Not a lot of options
to choose fromNot used for what its made for
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Marketing Mix Price:
I chose the price because its in the same range as other products like mine and it represents the actual value of the product
Place: Seeing as though the product is in the process of being made,
the internet is a simple way to reach out to customers and begin the selling process
Product: F:The product provides protection and security to your can of liquid, comes in different varieties
B:Portable, and it fits to your wants and needs Promotion:
I plan on advertising the product on social websites such as Facebook, make business cards and distribute them to buyers, brochures, and the newspaper.
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Marketing Plan Phase Method Description Cost
Awareness 1. brochures 2. web3. self promotion4. business cards5. newspaper ad
1. Placed inside mail boxes2. Full time online, pop ups3. Talking to target market4. Pass them out with each product bought5. Once a month on the Hartford Sunday newspaper
350.00
Purchase -If more than 3 bought then a 15% discount is given
If 3 cool caps are bought then the customer will receive a 10% discount off the final price
$3.00 dollars lost
with 10% discount
Retention Great customer service I will please my customers wants and solve any problems they have with the product 0.00
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Cost of Materials/Direct Labor
Definition of One Unit 1 Cool CapCost of Sales Per Unit
Direct Labor
(Labor Cost per Hour)
Time (in hours) to make 1 unit
Direct Labor Cost Per Unit
$8.00 1 minute or 0.016/hr $0.13
Total Direct Labor Per Unit $0.13
Material Description Cost/Total Quantity Cost Per Unit ($)
Can cover .18 cents per unit $0.18
Can top .09 cents per unit $0.09
Total Material Cost Per Unit $0.27
Variable Costs Per Unit (shipping, packaging) $ 0.00
Cost of Sales Per Unit $ 0.40
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Economics of 1 UnitDefinition of One Unit 1 Cool Cap
Selling Price per Unit $10.00Including shipping and handling
Direct Labor Per Unit $0.13
Materials Per Unit $0.27
Total COGS Per Unit $0.40
Variable Costs Per Unit
(outgoing shipping, packaging)
$1.20 Included in the selling price
Total Cost of Sales $0.40
Gross Profit Per Unit $9.60
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Time Management Plan
Business Schedule for a Typical Week
Entrepreneurship 21hr
School Hours 50hr
Work Hours 13hr
Sleep 56hr
Free-Time Hours 28hr
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Average Monthly Fixed Costs
Type of Fixed Cost Monthly Cost
Entrepreneurial Stipend $15.00
Rent/Utilities (cell phone, internet) $60.00
Advertising (brochures, web, self promotion, business cards,newspaper ad)
$350.00
Depreciation (computer) $20.00
Total Monthly Fixed Costs $445.00
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Monthly Sales Projections Month Units Sold
January 175
February 160
March (B) 150
April 230
May 500
June 750
July 1200
August 720
September 520
October 300
November 250
December 200
Total = 5155
0
200
400
600
800
1000
1200
1400
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Units sold
Monthly Break-
Even Units 53
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Selling Price Per Unit 10.00
# of Units Sold 5155
Total Sales $51,550.00
Total COGS $2,062.00
Other Variable Costs $0.00
Total Variable Costs $2,062.00
Gross Profit $49,438.00
USAIIRD (Yearly) $5,340.00
Other Costs/Unforeseen $3,600.00
Total Fixed Costs $8,940.00
Profit before Taxes $40,498.00
Less Estimated Taxes @25% $10,124.50
Net Profit $30,373.50
Projected Yearly Income Statement (
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Return on InvestmentReturn on Sales
ROS 59%
For every $1 dollar of sales,
my business earned :
$.59
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ROI 58%
For every $1 dollar invested,
my business earned :
$.58
Start-up Investment Entrepreneurial hours
needed for start-upWage I pay myself Total start-up
time investment
96 hours $ 8.00 $ 768.00
Item Where I will buy this?
Cost of Item
Computer Gift/ Already owned $0.00
New designed piece Production Company $50,000
Business cards Business card inc. $ 25.00
CASH RESERVE $ 900.00
Estimated TOTAL START-UP INVESTMENT $ 51,693.00
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Financing Strategy for Total Start-up Investment
Total: $ 52,000.00
Source Amount Debt Equity
Personal Savings $ 1000.00 *
Relatives/Friends $ 1000.00 *
Investor(Bank of America) $50,000.00 *
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Social Responsibility Plan
I will donate 5% of all my net profits to a Breast Cancer association
I will stamp a pink ribbon, which represents the fight for breast cancer, on all my business cards and website in order to inform my customers of where some of the profits are going.
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Business & Educational GoalsBusiness
- I plan on making the design of my product come to life and in due time putting it on the market for consumer use
- After the passing of one year or so of the product being on the market I plan to better the design so it can fit in with the modern aspects of time.
Education - I plan on graduating from high school with a A- average so I can have the opportunity to enter a college of my choice
- After the four years of undergraduate studies I plan on going to graduate school and then entering medical school in order to fulfill my dream of becoming a cardiologist
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