introducing green bin, inc

8/13/2019 Introducing Green Bin, Inc.

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Introducing Green Bin Inc

A detailed Business Report outlining GreenBin

Incorporates new product the GreenBin. The report

covers company information, detailed product

information, customer analysis, marketing strategies,

and financial information for the GreenBin products.

Avadikian, Denaro, & Gingold

December 2, 2013

GreenBin, Inc

806 E. Henderson Ave.

Tampa, FL 33602

813)GO GREEN (464-7336)


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Phone: 813.464.7336Fax: 813.414.8027www.GreenBin.org

GreenBin, Inc.806 E. Henderson Ave.Tampa, FL 33602

GreenBin Inc.

Business History

GreenBin, Inc., was established in 2013, as an alternative and innovative way to dispose ofand recycle items, which would provide a convenient, fun and educational experience for theindividuals in the business, corporate, government and learning environments.

The founders of GreenBin, Inc., are:

Ms. Nina Denaro holds a BA in Environmental Science and Policy, a minor inMarketing and is currently Chief Executive Officer.

Mr. Mike Avadikian holds a BA in Business Administration in Marketing andManagement and is Chief Information Officer.

Ms. Melisa Gingold holds BA in Business Administration with a concentration inManagement and Accounting and is currently Chief Financial Officer.

Together, this dynamic trio has come together, in order to create a company that is functionaland fun, as well as educational and earth friendly.

Mission

Our mission is to create a sustainable future my minimizing waste going to the landfill and toraise a positive image of the recycling industry to the public eye.

Vision

GreenBin, Inc. will span the globe with worldwide GreenBins and continue to educate. Wewill challenge every consumer to step forward, take action, and continue to make a change.We will continue to make recycling more convenient for our customers.

Values
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GreenBin Inc.

The core of who we are as a company.

GreenBin, Inc., is committed to instilling pride, values and assurance in each employee thatjoins the GreenBin Team. The three basic beliefs of GreenBin, Inc., are respect for each otheras individuals, service to our customers and striving for excellence in the product and servicethat we deliver as an eco-friendly corporation.

GreenBin, Inc., employees will receive a full package of benefits, including medical, dental,vision, life insurance, disability plans, 401K contribution and matching, tuition assistanceand a multi-level training program to ensure that qualified leaders are developed from allranks at GreenBin. This allows for upward mobility and eventual franchise opportunities forour employees.

Integrity

Respect

Goodwill

Good Ethics

Communication

Quality
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GreenBin Inc.

We, at GreenBin, Inc., strive to be a successful corporation, but with the involvement of

entire communities, in which we live, work and play.

GreenBin, Inc., has core values, which are based in education, eco-friendly approaches and asystematic and dynamic approach to recycling for our future.

Greenvow to use only recycled materials and live by the creed Green = GreenesponsibleVow to use the earth and her resources responsibly and with care.

co-FriendlyVow to be eco-friendly with our GreenBin operations.

mployeesVow to give them cutting edge training and education at all times.

ewest and latest TechnologyVow to be up to date and meeting all standards.

usiness that will serve as a model for those companies that desire to save the earth.

nnovativeUp to date and always using breaking edge technology.

atural ResourcesVow to protect them.recycle!

REE

B

I


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GreenBin Inc.

ompany that cares about our future.

GreenBin, I nc., a perfect soluti on for our future.

Questionnaire

GreenBin conducted one survey in order for us to find whether or not people would consider

using our product, if recycle bins are located in a convenient area, and whether or not theywould recycle more if they were readily available. The survey was used as whether or notcustomers would use the product.

Tangible Product

GreenBin, Inc., provides a dynamic way to dispose of recyclable goods and products. Thebin is actually a green bin that sorts refuse into four different types of recyclable goods atonce. As an example, an individual can approach a GreenBin with paper, plastic, glass andmetal and empty the items into the main receptor. Within the GreenBin, various sensors willdetect the type of material and will automatically sort the items into their respective holding

bins within the GreenBin container. Depending on the size of the organization, business oreducational institution, GreenBin, Inc., will evaluate your specific needs and institute a

program based on your refuge and individual recycling needs. GreenBin, Inc., will deliverthe appropriate size GreenBin (s) to your location, provide training for your employees andothers that will be using the GreenBins, and be on site for a period of time, in order for allindividuals to feel comfortable with the process of disposing of recyclable goods by way ofthe GreenBin.

GreenBin, Inc., and the GreenBin containers are unique, in that the sensors willautomatically sort the items without any assistance from the individual disposing of therefuge. GreenBin, Inc., has many sensors that operate as not only electronic eyes, but also anelectronic brain, and hands, in order to properly sort and compact the items placed into theGreenBin. GreenBin amazingly sorts, compacts and handles your recycling needs withoutnothing more than the individual tossing the items into the bin.

C


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GreenBin Inc.

No human sorting, no ten different bags to hold all of the different types of recyclable refuge,no worries, no buttons to push, no waiting.just toss in the items and you are done!

A 8 yard GreenBin is one of the smallest size GreenBin for purchase. A 8 yard GreenBinholds 10 cubic yards of waste. This GreenBin size is perfect for tighter spaces and smallertrash loads. A eight yard GreenBin is a good size GreenBin for a household, and small

corporations.

A 10 yard GreenBin is designed to hold 20 cubic yards of waste. This size is a good size forrestaurant, cafeteria, and established corporations. A ten yard GreenBin will holdapproximately 300 square feet of recyclable waste.

A 15 yard GreenBin is a good size for college campus, large corporations, and large entities.Fifteen yard GreenBin can hold 30 cubic yards of waste.

Best of all, all GreenBin, Inc., bins and electronic parts are made in the United States of100% recycled materials, in order to have the least amount of carbon footprint on theenvironment as possible, and to employ Americans in the process of building our dynamicGreenBins. The bins are made of 100% recycled plastics and metals, as well as eco-friendly

paints and dyes. Our compactor component of the GreenBin compacts the recycled itemsinto a 1 foot by 1 foot square bag, which is easy for transport by our GreenBin, Inc.,

personnel.


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GreenBin Inc.

GreenBin, Inc., Advantages

We at GreenBin, Inc., believe that recycling should be fun, educational, clean and compact.There is nothing worse than those unsightly blue recycle bins jammed in every corner of an

office, break room, cafeteria or under a cubicle area. More often than not, employees,students and others, find recycling to more of a hassle than pleasure. So, we at GreenBin,Inc., have designed brightly colored GreenBins that will be placed in one or two areas foreasy access to all employees, students and the like. Recycling will be easy and no longer arequired office chore!

GreenBin, Inc., is a feel good way to recycle. And, as your employees, faculty and

students begin using the GreenBins, they will find a personal satisfaction in knowing that byevery deposit into the GreenBin saves our earth, one step at a time. And, as a bonus,GreenBin, Inc., contributes a certain percentage of the savings to programs that sponsoreducational awareness of recycling and saving our earth.

GreenBin, Inc., makes a person proud to be a part of the recycling movement and a part ofsaving our earth!

Be proud! Be a GreenBinner! Go GreenBin


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GreenBin Inc.

Target Market

Our main clients would mainly be large corporations, and as well as Universities/schools.After analyzing all of the results from the survey (41 volunteers) we concluded that nearly80% of the survey takers would use the GreenBin knowing that it recycles. Approximately70% of them said that they would make more of an effort to recycle if it was available tothem.

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GreenBin Inc.

Customer Analysis

The typical GreenBin client will be large corporations and Universities/Schools looking foran efficient way to recycle all of their trash into one large bin. This will provide not onlyeasy accessibility to which our survey takers wanted but it will also be more environmentalfriendly.

We believe that many corporations will be interested in purchasing this product because of

how effective it will be and also how the survey statistically proves that approximately 80%of the customers would use GreenBin knowing that it recycles every item. For schools, thiswould benefit them because of how much trash they go through each day.

Millions of pounds of trash are dumped onto landfills and none of it is recycled. We willprovide information for schools showing them how much trash they can recycle each yearafter gathering the results from previous years on how many students/teachers they have andhow much trash they waste they go through.

Market Strategy

GreenBin will be the new and innovative way to recycle trash. This is the first of its kind inthe industry and with that being said it is expected to be all over the news because of howeffectively it is going to help reduce the waste lands and as well as our pollution.

Starting locally we will distribute our business cards and brochures throughout Tampa andhave billboards having our logo and information that is appealing to the eye which willcreate strong brand awareness. On the brochures, we will have company reviews such asCoca Cola, Verizon, and the USF dining hall giving quotes on how much the GreenBin is a

benefit to them and how this will make a new change in the U.S. Those large companiesbeing in our brochure will start spreading through word-of-mouth. Other ways we willpromote ourselves is with the new social media sites we will use such as Twitter andFacebook. This will provide our clients and customers details on how to use the product andas well as create stronger brand awareness and start the electronic-word-of-mouth(EWOM) .


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GreenBin Inc.

We will also provide helping services which shows you how to use it which will be onYouTube and have our contact information if needing more help. Not only will it benefit ourusers but it will benefit us because of how low the cost will be.

After all the ways reaching out to our customers we will host a large convention indowntown Tampa. All of the large corporations and Universities/Schools will be invited andinformed about our product and how it will help not only their companies but as well as ourenvironment.

Market Needs and Demands

Current trends in the market greatly favor the start-up of our recycling business.

Laws have been passed in the state of Florida placing greater restrictions on the types oflandfills that can receive human waste. These laws took effect in 2010. Municipalities areseeking alternatives means of disposal as disposal prices are expected to skyrocket andlandfill space decreases dramatically. With the laws in place, recycling is on the rise. Ourrecycling service solves this problem for municipalities.

The recycling industry has been focusing on promoting the ease of recycling. GreenBin Inc.has made way into the economy with the concepts of throwing trash into the garbage andletting the bin do the work of sorting and recycling all waste being thrown out. It eliminateshaving to sort recyclables by hand and offers a quick and reliable form of recycling all waste.

Market trends are skewing more and more toward recycling all goods possible and awayfrom waste going to landfills. The GreenBin addresses this concern. This green practicemeets the needs of every consumer out there who wants to save our Mother Earth. With our

environmentally favorable waste disposal, the ease of recycling all goods is a popularmovement in the world today and GreenBin will help further push that change.

Competitive Analysis


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GreenBin Inc.

Direct competitors are essentially non-existent in our region. There are a couple indirectcompetitors with a similar concept of recycling. They typically use a method of havingdifferent bins available for you to sort your recycled items. This is not as an efficient methodas GreenBin because it takes more human effort, and knowing what gets recycled.

Additionally, these types of recycling have a limited availability. Their market primarilyconsists of households which ignores the greater market. These products do not address themarkets trend of having the ease of a typical garbage bin do the recycling for you.Recycling Bin Price Features Picture

New Home Step-On

Recycle Bin

Sold online atCasa.com

$168.99 -triple side-by-sidecompartment step-on opener-12 gallons-foot pedals of different colors

Smart Sort RecyclingCenter

Sold online atIndustrialSuppliers.com

$75.99 -Choice of 4 differentcontainers colors and lidopenings

-22 gallons-low-profile design

GreenBin

Sold online atGreenBinInc.com as

well as select retailstores

Rangefrom$99.99-$369.99

-choice of 3 different sizes allequipped with Sensor2000 thatsorts into 3 categorizes

Demographics
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GreenBin Inc.

Our promotional strategy will be two-fold used throughout the East Coast of the US. Ourfirst phase promotion will focus on before, during, and six months following our opening; thesecond phase of promotion will deal with the long term and expanding throughout the rest ofthe country. The purpose of the first phase is to assist with rapid market entry to ensure earlyand sustained profitability and the purpose of the second phase is to ensure long-term growthand help propel us toward achieving our goal of expanding nation-wide.

First Phase Promotion:

Publicity: We will send new releases to all of the major newspapers in the state of Florida.Advertising: We will utilize direct mail and face-to-face promotional strategies to raiseawareness about our product and services in the target markets. Newspaper, radio, andtelevision advertising will be used.Internet: We will have a content heavy website geared toward educating potential customersabout the benefits of our product and services.

Second Phase Promotion:

Publicity: As the business grows and expands we will continue to seek publicity throughnews media about our successes.

Advertising: We will continue to make face-to-face contact with customers and potentialcustomers. Mail-outs will be updated to reflect the benefits provided to customers thus farand will be sent out periodically.Internet: We will continue to have a comprehensive website. The website will be updated to

provide responses to frequently asked questions. After the first six months, and after the firstyear, we will evaluate the viability of having target clients advertise on our site, andconversely, we will evaluate viability of advertising on our target clients websites.


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GreenBin Inc.

Financial Information

Our financial plan is based on receiving several loans to purchase/fabricate the productionequipment, provide initial operating capital and establish the customer base.

We will achieve profitability early in the first year and due to the expected high growth rate,we will realize strong profits on sales by year three.

Start-up Funding

We have come up with a plan that minimizes the startup costs for our GreenBins. Weproduced 200 test GreenBins at a cost of $10,000 and gave them to a selected trial group togather feedback and help us budget for the future. We spent $5,000 on advertising to generateawareness for the GreenBin launch. These costs included social media development, ads innewspapers, flyers, business cards, brochures, and commercials. We have also signedRegional Council of Revolving Loan to a 5 years, $100,000 contract to endorse the GreenBinand be featured in any advertising campaigns.

Projected Costs of 2014

The costs of GreenBin have been projected using an Activity Based Costing System. Thisallows us to assign directs costs and allocate indirect costs in the most accurate possiblemethod. Each product has direct cost pools of materials, labor, and machine maintenancecosts. The indirect cost pools consist of research and design, machine setups, machineoperations, shipment setups, distribution, and administration. By identifying many differentinventorial cost pools, our company have best accounted for total production costs of our

product and has allowed us to appropriately price the product for retail sale. The following isa projection for the first years production:


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GreenBin Inc.

Projected Costs 2014

Cost

Description Small- 8 cubic yards Medium- 10 cubic yards Large- 15 cubic yards Tota

Total for 500 units Per Unit Total for 500 units Per Unit Total for 500 units Per Unit

Direct Costs:

DirectMaterials $100,000.00 $200.00 $120,000.00 $210.00 $125,000.00 $225.00 $325,0

DirectManufacturingLabor $10,000.00 $25.00 $12,000.00 $30.00 $13,000.00 $31.00 $34,0

DirectMachineMaintenanceCosts $5,000.00 $6.00 $10,000.00 $8.00 $11,000.00 $9.00 $26,0

Total

Direct Cost: $115,000.00 $231.00 $132,000.00 $238.00 $148,000.00 $255.00 $385,0

Indirect Cost:

Design($15/hr) $1,125.00 $12.00 $1,155.00 $14.00 $1,160.00 $15.00 $3,2

Setup ofMachines($5/hr) $2,500.00 $5.00 $2,750.00 $10.00 $2,800.00 $11.00 $6,5

MachineOperations($10/hr) $5,000.00 $15.00 $7,500.00 $20.00 $7,600.00 $21.00 $18,6

ShipmentSetup($2/setup) $1,000.00 $2.50 $1,100.00 $3.00 $1,200.00 $3.50 $3,3

Distribution($15/shipment) $4,500.00 $18.00 $4,600.00 $20.00 $4,650.00 $21.50 $8,2

Administration($25/hr) $12,500.00 $50.00 $12,650.00 $55.00 $12,725.00 $56.00 $36,6

Total

Indirect Cost: $26,625.00 $102.50 $31,225.00 $115.75 $32,000.00 $118.00 $76,5

Total Costs: $141,625.00 $333.50 $149,765.00 $350.75 $153,250.00 $365.50 $461,5


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GreenBin Inc.


Cost



Direct Costs:



Direct

MachineMaintenanceCosts $5,000.00 $6.00 $10,000.00 $8.00 $11,000.00 $9.00 $26,0

Total

Direct Cost: $115,000.00 $231.00 $132,000.00 $238.00 $148,000.00 $255.00 $385,0

Indirect Cost:

Design($15/hr) $1,125.00 $12.00 $1,155.00 $14.00 $1,160.00 $15.00 $3,2


Machine

Operations($10/hr) $5,000.00 $15.00 $7,500.00 $20.00 $7,600.00 $21.00 $18,6

Shipment

Setup($2/setup) $1,000.00 $2.50 $1,100.00 $3.00 $1,200.00 $3.50 $3,3



Total

Indirect Cost: $26,625.00 $102.50 $31,225.00 $115.75 $32,000.00 $118.00 $76,5

Total Costs: $145,625.00 $350.50 $153,765.00 $361.75 $154,250.00 $368.00 $463,6


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GreenBin Inc.


Cost



Direct Costs:



Direct

MachineMaintenanceCosts $5,000.00 $6.00 $10,000.00 $8.00 $11,000.00 $9.00 $26,0

Total

Direct Cost: $115,000.00 $231.00 $132,000.00 $238.00 $148,000.00 $255.00 $385,0

Indirect Cost:

Design($15/hr) $1,125.00 $12.00 $1,155.00 $14.00 $1,160.00 $15.00 $3,2


Machine

Operations($10/hr) $5,000.00 $15.00 $7,500.00 $20.00 $7,600.00 $21.00 $18,6

Shipment

Setup($2/setup) $1,000.00 $2.50 $1,100.00 $3.00 $1,200.00 $3.50 $3,3



Total

Indirect Cost: $26,625.00 $102.50 $31,225.00 $115.75 $32,000.00 $118.00 $76,5

Total Costs: $148,775.00 $340.00 $150,805.00 $355.80 $155,300.00 $370.00 $465,95

Bottom Line


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GreenBin Inc.

After projecting our startup costs, production costs, and sales revenues for the next threeyears, we were able to project the products annual addition to net income and determine the

payback period for investors. Our product line would need an initial investment of $148,775to be able to launch in January 2014. The projected payback period for investors is 2.3 years.We need to sell our products at a 19% markup, in order to break-even and make profit. Afterthe 2.3 payback period, we will be able to reinvest in the company and make improvements.

Sales Forecast

The table below outlines the sales forecast and cost of goods sold. The forecast is based onreasonable sales projections within the large market. The high growth is based on our plansto expand by increasing operations throughout the east coast of the US and placing similarfacilities in other areas of the mid-west and west coast. We anticipate that by 2015 we willhave 20 facilities and by 2017 we anticipate having 40. Thus our sales forecast doubles ineach of those years.

GreenBin collection services

Waste acceptance in tons

Sale of Recyclables in tons


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GreenBin Inc.

Conclusion

The new Green Bin, Inc. products provide an eco-friendly mode of disposing ofgarbage by recycling all goods possible into 4 categories: plastic, paper, aluminum,and waste.

It is a long term time benefit for all consumers with the needs of waste disposal andwho want to save Mother Earth.

We continually educate youth about the importance of minimizing waste going to thelandfill, reducing carbon emissions in our environment, and reusing materials.

Studies provided from local Universities revealed that with the replacement of regulargarbage cans with GreenBins, waste going to the landfill is reduced by 72%

In initial surveys about 52% of the surveyed people said they would use GreenBin if itwere publicly available to them. After our trial group, 87% of the people surveyed saidthey would personally purchase a GreenBin.

The GreenBin will not only benefit earth, it will revolutionize the disposing of wasteand provide many years of


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GreenBin Inc.

Agenda

Date: 10/1/13In attendance: Michael Avadikian, Nina Denaro , Melisa Gingold

I. Begin Meeting: 5:00 PM at USF library computer labII. Confirmed invention topic

a. Brainstormed how our product will workb. Target audiencec. How we will model it

III. Checked out brochure templatesIV. Different size options

a. Purchase or rent binb. Taking a risk

V. Wristbands for classVI. Green shirts for presentation

VII. Ended Meeting: 6:15PM


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GreenBin Inc.

Agenda


I. Begin Meeting : 3:45PM at USF library basementII. Drew out rough draft of brochure

a. Came up with history of companyb. Mission statementc. What is green bind. How it workse. Recycling for the futuref. Why recycleg.

FactsIII. Came up with design of GreenBin, and our logo

IV. Ended Meeting: 6:30PM


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GreenBin Inc.

Agenda


I. Begin Meeting: 4:00PM at the USF library 4th

floor roomII. Went over business plan requirements

III. Discussed how to separate tasks on the business plana. Each person designated to a specific task

IV. Searched for competitors in the industry to understand any competitiona. Found no other companies with same idea

V. Ended Meeting: 5:15PM


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GreenBin Inc.

Agenda

Date: 11/16/13In attendance: Michael Avadikian, Nina Denaro

I. Begin Meeting: 5:30PM at BSN buildingII. Reviewed sample Business Plan

III. Exchanged some insight of ideasIV. Ended Meeting: 6:00PM


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GreenBin Inc.

Agenda

Date: 11/18/13In attendance: Michael Avadikian , Nina Denaro , Melisa Gingold

I. Meeting time: 5:00PM at USF library StarbucksII. Puts all Business Plan documents together

III. Wrote MemoIV. Met with professorV. Discussed what we need to fix and work on

VI. Overall rough draft of Business Plan looks goodVII. Ended Meeting: 8:30PM


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GreenBin Inc.

Agenda

Date: 11/30/13In attendance: Nina Denaro , Melisa Gingold

I. Meeting time: 5:00PM at USF computer group work areaII. Wrote ConclusionIII. Reviewed and edited final touches on Business PlanIV. Made PowerPoint PresentationV. Worked on individual letters

VI. Ended meeting: 7:00PM

introducing green bin, inc

Documents