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Business Plan

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In my class Entrepeneurship we were asked to make a business plan for the "mock" business we created. This is the final version of the business plan I made, I managed to score 150/150 on it.

In my class Entrepeneurship we were asked to make a business plan for the "mock" business we created. This is the final version of the business plan I made, I managed to score 150/150 on it.

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  • 1. Smiley Incorporated December 2012This document holds confidential and classified information belonging exclusively to Smiley Inc. Nathan Beil Founder of Smiley Inc 319 Mozart Avenue East Mankato, Mn 56001 Cell: 507-779-4758 Email: nathan.beil.god.bless@gmail.com
  • 2. Business PlanVision and Mission:Vision: Our company vision is to create a new trend in society, create a new sphere inthe market, generate tremendous revenues, and then give back and make our world abetter place with generous, substantial financial resources at our disposal.Mission:Smiley Inc. commits to the following:Our mission is to provide unique, self expressory products at a price that is affordable toeveryone. We believe in everyone, and that everyone deserves the opportunity toexpress themselves. Our first responsibility is to make our product available to all typesof people in the world. We believe our wide range of customer outreach will enable us toestablish a strong customer foundational base that will allow us to propel forward ingaining capital. We believe in five key principles that will define our company. 1.) Allow customers, and employees to be themselves 2.) Treat everyone as equals 3.) Be generous 4.) Strive for excellence 5.) Be the standard of excellance Staying committed to our mission, vision, and five key principles, we believe inourselves to achieve company excellence. Company OverviewBusiness Description 1.) I think my business will be profitable because I think my idea is really unique, and I believe that with the recent market trends of creativity and expressing yourself, that it would satisfy that desire. I think growth opportunities are
  • 3. tremendous. My vision is to go into all types of markets including, clothing, gaming, toys, accessories and possibly other merchandise. 2.) I think what will appeal to customers is the personal creativity aspect. You can create your own Smiley, and express yourself with it. And why it is appealing because I think people naturally in some way want to express themselves. And much like say with art or music, where isn’t the fun in creating something and expressing yourself with it?Product Strategy 1.) My product is a Smiley which in a simple context is a smiley face with a celebrity or a personal influence. Then that image is then created on an object. Right now the plan is shirts, hats, rings, key chains, cards, with the smiley created on the chosen object. Other products in the works for the future would be action figures with the celebrity faces (or even possibly a customized creation you’ve made); also a website where you can create your custom image and then put them on products and then order them. A computer game (on the website), and a possible future video game, and costumes for like Halloween. Location Smiley Inc. headquarters is located 319 Mozart Avenue East, MankatoMinnesota, 56001. I chose this location to save money, it is currently where I live sountil I generate more revenue I figured I’d cut costs where I could and keep thecompany HQ at home. Other details in location besides headquarters will be explained,like where is the ideal location for a store. I would say that my ideal location for abranch of our store would be a busy place that is easily accessible. I would like thefacility to be small, and for many of the branches to be stores located in a strip mall, orchain of small businesses that are together. I would want to own the facility so that Icould customize it to my liking. I would want my store to have a unique design and feel,and for it to be full of color, and create an atmosphere of wonder. Other business’s Iimagine being around are the heavyweights like Target, and Walmart, and is many ofthe branches or Smiley Inc. are located in strip malls I imagine clothing stores, andmore small scale retailers like Barnes and Noble, Gamestop, being around us. I thinkthis is the right location because I want to be where the people are.
  • 4. Legal Business DescriptionSmiley Inc.The legal name of Smiley Inc. is Nathan Beil doing business as Smiley IncLegal Form of BusinessThe legal form of Smiley Inc. is a corporation. Marketing AnalysisCustomer Profile/Demographics I have a broad target market, so I will do my best to pin-point and be as specificas possible in the definition of my target market. I believe my ideal target market wouldbe kids and then young adult/ college students. So I would say for age ranges 6-12,and then 16-25, would be the people I am targeting. To give a comparison I think of asuper hero, like say Captain America. He can appeal to both kids and adults in differentways and that’s what I think is a blessing to my product idea. As for geographic locationI think because I am looking for mass consumption and anyone can buy the productbecause it is mainly clothing. I am going to look for more heavily populated areasbecause in theory more people equates to more consumers to buy my product. I think
  • 5. income is going to be middle class, much like say with a mass consumption of a CD orDVD; I envision the same result with my product. I don’t see the price being too high unless you really get into customizing yourshirt. Education level I am going to go for the norm too because, again, my product isflexible where anyone can buy it, and I don’t want a bias where say with a Tiffany wheremore “rich people buy it”. I want to (as much as possible) appeal to all incomes andages, but if I have to pick I’ll go with the group that I believe has the most population(young people, and middle class folk). Lastly for the psychographic information, I would ideally like to target the “cool”people and the trend setters first and possibly get well known people to wear it too. Ithink that has helped set trends are when well-known people wear the product, peoplethink “I want to be like them”, wear it, and then it trickles down with everyone wanting tofit in and be accepted. So in conclusion this is a broad base of my targetmarket/customer profile, and what I would do to start spreading it out! Competition To be honest, I think what my makes my product and company unique is thereisn’t really a specific competitor who is selling anything similar to our own product. Ithink the closest competitors are LIDS with the custom hats, and Spencer’s with therandom, goofy products. Trends The main trend that were appealing to is EGOnomics, which is the person’scraving to express themselves and for people to recognize it. We feel as a companythat much of today has to do with one expressing themselves; And creating your own,customizable Smiley will help curb the appetite of that desire. We also feel that trendsin our world have helped support our theory that self-expression is a positive epidemicfor business’s. Trade AreaOur potential customers live all over; we are targeting everyone because we feel thatour product is going to be so big that almost everyone is going to want it. And with ourwebsite and shipping capabilities we will be able to deliver our product to anyone whowants to buy it.Promotional Plan
  • 6. By month:January- Deals for Single ParentsFebruary- Deals on Smileys regarding Valentine’s DayMarch- Saint Patrick’s Day SmileysApril- Spring SpecialsMay- Military Special SmileysJune- Back to School specials on SmileysJuly- Most Creative Smiley contest (video, normal Smiley)with prizes for winners!!August-Deals for VeteransSeptember- Fall SpecialsOctober- Deals on Halloween themed SmileysNovember- Black Friday specials on all productsDecember- Deals on special Christmas Smileys and Holiday themed stuff!Advertisement #1
  • 7. Got Your Smile? Advertisement #2
  • 8. BEYOURSELF
  • 9. Company Website
  • 10. Descriptions of numbered items on Company website: I have numbered each section of my website vision so that I can explain it ingreater details in the next section. Some definitions show some categories that you canclick on if your mouse was over it. Otherwise if that is not applicable, then the logicbehind adding that feature to website is explained. 1.) Like our page, add our team as friends, post your smiley! 2.) Post videos, create your own for prizes, watch our videos! 3.) Tweet, follow us and our team, post on twitter with our hash tag! 4.) This week’s blog, previous blogs 5.) About us, History, Mission Statement/ Vision, Income Statement, Company Details 6.) Create your own Smiley, How to create a Smiley, Adding images to clothes & merchandise 7.) Hats, Shirts, Accessories, Customized Gear 8.) FAQS, Questions, Help, Call/ Email Us 9.) Job openings, franchising, internships 10.) Sign in, My account, My stuff 11.) Opportunity for fans and customers to connect with the site and brand more, so it feels like it’s more personalized and that they help make the product! 12.) Same with Twitter/ Facebook posts logic, a way to keep the buzz going and for fans to participate and have fun with Smileys! Interactive gamed, targeting kids more, another reasons for people to hop on our website more and to add visitors. Also creates the foundation if we choose to enter the video game market. 13.) Interactive game, targeting kids more, another reasons for people to hop on our website more and to add visitors. Also creates the foundation if we choose to enter the video game market. Management Team
  • 11. Due to our company being new we are keeping our management team, short,sweet and to the point .Chain of Command:Nathan Beil: Founder/CEO/PresidentSam Gast: Vice PresidentAmber Bartlett: Chief DesignerSteve Dirckx: Daily Operations ManagerAshley Enter: Public Relations/ Human Resource ManagerLevi Pederson: Director of TechnologyHeidi Beske: Director of MarketingResponsibilitiesNathan Beil, Founder-Acts as the leader of the company, and oversees the implementation of hiscompanies vision (obviously with consent from other team members).Sam Gast, Vice President-Acts as assistant to the President and helps take on his roles and assume hisresponsibilities as needed.Amber Bartlett, Chief Designer-Acts as the chief designer and creative expert for current Smiley’s and thecreation of future Smiley’s.Steve Dirckx, Daily Operations Manager-If the company were a boat, he’d make sure everything is running smoothly onthe production/sailing end; works closely with the Vice President.Ashley Enter, PR/HR Manager-handles problems within the organization, keeps up to date on polices, andhandles the companies PR to the outside world.Levi Pederson, Director of Marketing
  • 12. -Runs our Twitter, and Facebook page, and runs the website and makes surethere up to date, and running smoothly.Heidi Beske, Director of Marketing-Gets our name out there, and makes sure that the consumer knows about us.Outside SupportWe accept volunteers which would feature family and friends. Benefit of thatwould be that if there work is good, and greatly contributes to our organizationthen we would add them to our business and create a customizable position forthem. Also as we grow we are looking to add college students via interns. Muchoutside support is to be expected but too numerous to list.StaffingWe recognize we need a big staff, and thou we are excited to accept and addvolunteers/interns to our ranks we are going to be looking for in the near future,social media experts, more sales and marketing people, technology experts toprevent hacking, retail experts (to help purchase property) and many more thingsin the foreseeable future. Projected staff is difficult to determine at this point.Income StatementSales Daily Price TotalNumber of Shirts 10 $15 150Number of Hats 5 $15 75Number of Accessories 50 $5 250 475plusExpensesInk/Material $50Manufacturing $50Equipment Use $25 125minusDonations 25 plusTotal Revenue One Day $375Revenue projections
  • 13. Sales Daily Price Total X30 (monthly total) X12 (Yearly Total)Number of Shirts 10 $15 150 4500 54000Number of Hats 5 $15 75 2250 27000Number of Accessories 50 $5 250 7500 90000 $475 14250 171000ExpensesInk/Material $50 1500 18000Manufacturing $50 1500 18000Equipment Use $25 750 9000 125 3750 45000Donations 25 750 9000Total Revenue One Day $375Total Revenue One Month $11,250Total Revenue One Year $135,000 Equipment NeededWe will need a steady variety of equipment: 3 Computers, tons of printing paper,a plethora of ink cartridges, sowing machines to stich hats, shirt racks, big signs,big smiley costumes, coupons, and software for website our personal website.