Presentation on theme: "TJ’s Way: The Basics of Money Management. Problem Kids my age don’t know much about banking and money management. Hard economic times I want to give."— Presentation transcript:
TJ’s Way: The Basics of Money Management
Problem Kids my age don’t know much about banking and money management. Hard economic times I want to give them the chance to learn in a simple and fun way how to manage their money now and in the future.
Solution HHow do I plan to solve the problem? BBook and an after school program WWhat’s in the book? What am I going to teach? WWhy save money? Why start early? How to save? WWhy Budget? How to budget? HHow to write checks? How to cash checks? HHow to use debit cards?
Legal Structure TJ's way is a sole proprietorship Since I will be going to the school to teach the class on my own I choose this legal structure to run the business
Target Market High School Freshmen Start working at this age At 16 students can drop out without parental permission
Opportunity More and more schools are starting to realize the importance of an early financial education.
Differentiator My background Will present information in easy, simple and fun way Not a computer program
How do I make money? Start small, think big Monthly trial programs Eventually start charging for after school program/books
Start-up Investment ItemWhere will I buy this?Cost of Item Book Materials will be bought at a low cost from Instant publisher.com $2.75 per book Salary for Marketing Advisor Paid on commission: 2% of sales
Average Monthly Cost Fixed Costs Book Purchase Monthly Salary Variable Costs Gas2.00 Total Cost339.50
Economics of One Unit Definition of one Unit1 book plus one student Selling price per Unit$6 Books$2.75 Gross profit Per unit$3.25
Financing Strategy Source Amount Personal savings $150 Family and friends$100 Total$250
Balance Sheet Assets Books$ Cash Supplies$10 Total Assets$250 Liabilities and Owner Equity Liabilities$0 Equity$250 Total Liabilities and Equity$250
Goals Business Establish the product in Clay High school successfully Branch out to other schools and world wide after that Education
Intellectual Property Copyright Logo Trademark
Philanthropy Plan Once a month I will give away some free books and hold a free session teaching teens about banking and money management. For future establish a fund to provide a scholarship for an outstanding student that is interested in finance.
Human Resources Marketing Advisor: provides assistance in expanding product reach around the area Create a recognizable brand
Operating Plan Checking account Plan to open a business account
Yearly sales projection In a years time the net profit would be $2065 which is calculated by taking the projected sales cost per unit and multiplying it by the cost per unit then adding the number of students
Thank You For Your Consideration When I thought Of TJ’s Way I didn’t think of a way to make money I thought of the future of the economy. For a future with more financially literate people.