 Samantha Figueroa & Marisa Stolting  Grade 11  Age 16 & 17.

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Presentation transcript:

 Samantha Figueroa & Marisa Stolting  Grade 11  Age 16 & 17

Mission Statement  will provide active diabetics with a customizable band that will secure their insulin pumps. This will allow our customers security and freedom. Opportunity  300,000 people, worldwide that currently use an insulin pump  60,000 from USA  We plan to expand our product line (i.e. pockets for asthma pumps, etc.)

Type of Business  Retail  is a business which provides active diabetics with a customized band that secures and protects their insulin pump while engaging in any physical activity Legal Structure  Partnership  Share the finances  Share responsibilities  Share the time

We’re qualified to run this business because:    One partner has been a part of our target market for 13 years We will have completed an Embroidery/Art class We’ve completed a Marketing and Entrepreneurship course

Market Analysis Total PopulationU.S. population of people using insulin pumps Target MarketActive Males and Females ages 5-24 that use insulin pumps Potential Market90% of our target market we surveyed said they would be willing to purchase a customized body band online 60,000 13,878 15,420 Total Population Target Market Potential Market

Demographics  Active Males and Females  Ages 5-24 Geographic's  United States Psychographics  Active diabetics who do not allow their medical situation to impact their physical activity Buying Patterns  Willing to spend money on customizable bands to show their individuality while providing safety and security

Bands 4 Life Pump Wear Inc. Pump Wear Inc. Factors $ $44.99 Quality of Product/Service Price Location Reputation/Brands Unique Factors/ Knowledge $ $24.00 $19.99 SatisfactoryGreatExcellent Pocket Bands Kid OrientedCustomizable Online GoodGreat Excellent

People ProductPlace Price Promotion Active Males and Females ages 5-24 Word of mouth Business Cards Website/Social Networks Online Customizable body bands to cover and secure insulin pumps Competitive

Promotional Expense Monthly Amount Monthly Amount

Materials Material DescriptionCost/Total QuantityCost per Unit Sewing Thread$47.37/52 colors(400 yards) $0.91 Embroidering Thread$ 99.99/60 pieces$1.67 Spandex Fabric/Body Bands$5.79/9 meters$0.64 Packaging Boxes$22.92/50 boxes $0.46 Total Material Cost per Unit$3.68 Labor Labor Cost per HourTime (in Hours) to Make One Unit Labor Cost per Unit $8.253min or.05/hr$0.41 Total Labor Cost per Unit$0.41 COGS (per Unit)$4.09 Description of One Unit of Sale: 1 Embroidered Arm Band

Selling Price (per Unit) $19.99 (plus shipping and handling) COGS (per Unit)$4.09 Other Variable Expenses$0.00 Total Variable Expenses (per Unit)$4.09 Contribution Margin (per Unit) $15.90 Description of One Unit of Sale: 1 Embroidered Arm Band

Total Hours in a Week = 168

Total Units Sold 781

In an average month, the company will begin to make a profit after selling units. 28 =Monthly Break-Even Units $ Monthly Break-Even Units = Monthly Fixed Expenses Contribution Margin per Unit $15.90

Start-Up Investment Start-Up Expenditures ItemWhere Will I Buy This?Cost DBANew Britain, CT$10.00 Partnership AgreementWeber & Myers, LLC$ Laptop/Cell PhoneBest Buy/Sprint Already own Art/ Embroidery classJoanne Fabrics $45.00 Sewing & Embroidery Machine Joanne Fabrics $ Sewing & Embroidery Thread Ali Express $ Spandex FabricAli Express $6.00 Shipping/Packaging BoxesAmazon.com $22.92 Total Start-Up Expenditures $1, Emergency Fund $ Reserve for Fixed Expenses $1, $3, Total Start-Up Investment

ROS: Return on Sales For My Business: Dollar Equivalent = ROI: Return on Investment For My Business: Dollar Equivalent = $ $15, X 100 = 56% $8, $3, X 100 =270% $0.56 $2.70

$ 3, Total Start-Up Investment

Philanthropy  will donate 5% of our net profits to the Ronald McDonald House Charities in New Haven, CT. Business Responsibility  We will make our customers aware of this cause by having the logo on our website.

Take a class to learn how to promote our business better. To get a website up and running To graduate from SMSA and get accepted to the college of our choice Business Personal To move the business out of the house and into a store front We hope to double our sales in the second year Short-Term Long-Term S: Have a secured job in the Business field M: Have 4 more years left to become an Endocrinologist