Food safe final business plan

Professional Business Plan
04.20.2016
Eric Gunderson|Kristen Smith
Mason Mears|Ashley Schuett|Jenna Caldwell

ii | Food Safe, by Safe Solutions
Table of Contents
Executive Summary.………………………………………………………………………………1
Company Overview ……………………………………………………………………………….2
Product…………………………………………………………………………………………….3
Market and Industry Analysis……………………………………………………………………..5
Marketing………………………………………………………………………………………….8
Operations………………………………………………………………………………………..12
Key milestones…………………………………………………………………………………...15
Management……………………………………………………………………………………...16
Risks……………………………………………………………………………………………...18
Financials………………………………………………………………………………………...20
Funding…………………………………………………………………………………………..22

1 | Food Safe, by Safe Solutions
Executive Summary
Opportunity
Consumers need a quick and reliable way to monitor their food. For many, it can be difficult to
quickly and accurately look into a refrigerator and pick out which food is expired, and which
food is good to eat. Safe Solutions, a technologically innovative company, has developed Food
Safe to address this issue.
Concept
Food Safe is an ‘intelligent’ option for food storage. Integrating cutting-edge technology, each
container senses food spoilage within it, and reacts by changing the color of its lid.
Marketing Strategy
With Food Safe, Safe Solutions will endeavor to be perceived as a trustworthy company that
gives customers confidence in their food selections. This confidence will be instilled by
demonstrating Food Safe’s benefits via social media, Facebook ad targeting, networking, and
referral advertising. After establishing a reputable brand and a loyal customer base, sales will be
expanded into retail stores in subsequent years.
Competitive Advantage
As of now, food spoilage technology has not been made readily available to the general public.
There is neither an affordable nor accurate method to monitor food that is easily accessible to
families. This creates dissatisfaction amongst people and families who are ambivalent about
what to eat. Food Safe will provide both an affordable and high quality product that will be
accessible to individuals across the United States.
Management
A board of five industry and academic leaders will counsel safe Solutions. The executive board
will be led by the five co-founders, and includes the Chief Executive Officer (CEO), Chief
Financial Officer (CFO), Chief Marketing Officer (CMO), Chief Operating Officer (COO), and
Chief Technology Officer (CTO).
Finance
In Year 3 of sales, Safe Solutions will have a net income of $777,675. Breakeven will occur in
the fourth quarter of the second year of operation. Cash balances after Year 3 are estimated at
$907,999.
Funding
Safe Solutions will require a total of $690,690 of funding for the initial three years for all startup
costs and expenses. The five owners will provide $50,000 of funding, and the rest will be
acquired through a federal grant, equity funding, and friends and family. Safe Solutions can offer
10% equity for the required funds with 80% ROI per year for investors over the next three years.

Company Overview
Introduction
Developed by parent company Safe Solutions, Food Safe is an intelligent food container that will
indicate when the food inside has expired by changing the color of the lid. This color-changing
technology will be developed through a technical partnership with Peking University, in Beijing,
China.
Food Safe works to solve the issue of foodborne illnesses that result from food spoilage, and
helps consumers not waste food that hasn’t yet expired. According to the National Resources
Defense Council, the average American tosses roughly 25% of food and beverages purchased.
For a family of four, this amounts to spoilage costs of $1,365 to $2,275 by either throwing out
food that is still good to eat, or throwing out food that has spoiled and should have been eaten
sooner. These statistics illustrate the need for Food Safe. As of now, food spoilage technology
has not been made readily available to this market segment in a broad sense. There is neither an
affordable nor accurate method to monitor food that is easily accessible to families. This creates
dissatisfaction amongst consumers who are ambivalent about what to eat. Food Safe products
will help individuals easily minimize waste, monitor their food, and improve their overall health.
Vision
Safe Solutions believes in creating high quality, safe, and certified products for the consumer.
With the Food Safe product, Safe Solutions aims to provide this peace of mind to consumers by
giving them a way to ensure the quality and safety of their food. Food Safe wants every
consumer to feel secure and confident in what they choose to eat or provide for their families.
Mission Statement
Food Safe is dedicated to providing safe, reliable, color-changing technology to help consumers
maintain confidence when storing and consuming their food in order to increase their health,
wellness, and eliminate food waste.
Business Model
Food Safe will utilize a business-to-consumer model and will become a profitable business
beginning with initial online sales at a $20 single-unit price. In subsequent years, sales for Food
Safe will dramatically increase due to expansion into retail stores like Target and Bed Bath &
Beyond. Marketing efforts will focus on families and on-the-go individuals, Food Safe’s target
market. In the future, Food Safe believes that it has a substantial opportunity to expand to the
food industry. From a legal standpoint, Safe Solutions believes that restaurants and any store that
sells food will be very interested in purchasing Food Safe. Our product will help the food
industry protect themselves from customers purchasing and consuming contaminated food.

Product
Figure 1: The Food Safe Container
According to the Center for Disease Control and Prevention, one in six Americans get sick,
128,000 are hospitalized, and 3,000 die of foodborne diseases each year (CDC, 2014).
Monitoring the quality and state of food is an issue both in the home and at all stages of
industrial food production. Each year, illnesses that result from food spoilage place a $77.7
billion burden on the public health industry. Each Food Safe container is stackable, reusable,
durable, and utilizes spoilage-sensitive, color-changing technology to alert the user when food
within the container has reached and surpassed expiration.
Key Attributes
Features Benefits
Reusable and durable Saves you money in the long run. You don’t have to
keep purchasingsemi-disposableTupperware.
Dependable Provides you with reassurance about the freshness of your
food. Saves you money in healthcare.
Stackable Saves space in your refrigerator.
MachineWashable Avoid hand washing Tupperware; saves you time.
Changes color of lid when
food has spoiled
Saves you the time of inspecting your food.
Offered in a variety of sizes Meets the needs of many consumers not looking for a “one-
size-fits-all”Tupperware.
Figure 2: Features and Benefits of Food Safe

Each Food Safe container is made of materials that are of a quality superior to its counterparts on
the market today. Available in several sizes, each container is made of a durable glass ceramic,
to ensure a long lasting, quality product. This glass ceramic is treated and manufactured to be
stronger than traditional glassware, and will stand up to repeated washing and use far better than
plastic counterparts. Food Safe’s lid is made of a flexible, adaptive plastic, which features
advanced color-changing technology that is sensitive to food spoilage conditions. While the glass
container vessel comes in different sizes, the lids remain the same dimensions. This allows for
easy replacement should one container break.
Enhancements
Food Safe sets itself apart from other traditional food storage options by its ‘intelligent’ design.
Unlike traditional Tupperware, Food Safe has the ability to detect when food products have
spoiled, and to what degree. In addition to a complete food container product offering, lids will
be provided to the market as a separate product, making it easy for the consumer to utilize Food
Safe’s technology on their existing food containers. In addition, Food Safe is scalable, meaning
that containers of different shapes, sizes, and colors, can be offered, without fundamentally
changing the features or properties of Food Safe.
Product Strategy
Beyond an initial food container product, the technology present in Food Safe can be applied to
products such as plastic bags, flexible coverings, and baking accessories. One of the most
promising areas of expansion for Food Safe’s market is within the industrial food market. Safe
Solutions is confident that the opportunity to decrease health risks within a restaurant with Food
Safe would be highly attractive to many in the food service industry. Additionally, Food Safe
will expand into the existing Tupperware market by offering ‘intelligent’ lids that can be used
with other food containers.
Value Proposition
When compared to its competitors, each Food Safe can be perceived as a long term investment.
Even without the ‘intelligent’ technology, the construction of Food Safe is of a quality that sets it
apart from other food containers. With the inclusion of the technically advanced lid, our product
provides a sense of security to the consumer about the nature of their food that competitors
cannot achieve. This security also saves the customer additional money in the areas of
healthcare, impacts to business (in the case of a restaurant), and has the potential to save
thousands of pounds of food thrown out prematurely worldwide.

Market and Industry Analysis
According to the U.S. Census Bureau, 115,610,216 households existed in America between the
years of 2009 and 2013. Furthermore, 97.8% of households considered to be below the poverty
line still owned a refrigerator. Hence, the estimated 115 million households present in the U.S. is
an applicable indicator of Food Safe’s ultimate addressable domestic market.
In 2015, The Tupperware Brands Corporation achieved a gross income of $1.54 billion. The
continual formation of American households, and a growing millennial population are
contributing factors to drive business for firms within the food industry. A growing middle class
also represents a positive trend in the market, as it is this segment of the population that food
container companies target most heavily currently.
Addressable Market
Safe Solutions considers the addressable market for the Food Safe product line to be
considerably less than the overall market for the food container industry. Ultimately, Food Safe’s
addressable market will primarily be composed of middle-high income families ages 25-60.
Because 46.61% of United States citizens are aged 25-60, and approximately 31.7% of citizens
earn an annual income of $75,000 or more, Food Safe’s addressable market will shrink to 21.5
million households nationwide.
Entry Point
Based on the findings outlined above, Food Safe will find its entry point among middle-to-high
income families. In many respects, Food Safe can be considered a ‘luxury’ product when
compared to many competitors. For this reason, Food Safe believes that the middle class
population, with more disposable income, will be the most attractive segment for successful
market entry.
Industry Analysis
The food storage industry is a diverse and complex area of product development. Rising global
populations and demand for food are expected to drive growth in the food distribution industry,
especially in emerging markets. As global population increases, countries develop economically,
and sanitary standards abroad change, it is predicted that global demand for products and
services in the food storage industry will increase at a rate of 4.4% annually through 2017, with
demand for food containers growing by 4.5% per annum to a total value of $135 billion.
The market for food containers is therefore predicted to return (and exceed) to a size and scope
seen worldwide prior to the global recession of 2007-2012. Consumption patterns internationally
have been changed by the ‘westernization of food products.’ Many countries and global food
industries are shifting toward chilled, processed foods, as well as instant ingredients and meals.
Within this shift is a rising demand for an array of products that the food storage industry
provides.

Within the United States food container industry, several large brands dominate. Of the entire
industry, over 75% of products sold domestically are made by Gladware, Rubbermaid, and
Ziploc. An additional 10% is purchased through ‘store brand’ offerings (i.e. Kroger, Costco, and
Wal-Mart). This leaves Food Safe and other small brands with approximately eight percent of
the market, which translates to 25 million consumers in the United States.
Segmentation
Below, Food Safe has outlined several key subgroups within our addressable market:
Young & Middle
Aged Families
These families lack the time to inspect their food closely and to
hand wash their Tupperware, making them ideal consumers for
Food Safe.
Middle-High
Income Families
Our product will not be the cheapest on the market. By offering a
premium, these middle to high-income families can be assured they
are receiving the best quality and value for their dollar.
Backpackers &
Campers
This subgroup is especially important because their food is prone to
spoilage, especially if they are without a cooler.
Food Industry We plan to open our market to these potential consumers after we
have introduced the product to our entry point. By purchasing Food
Safe containers, the food industry would greatly improve the quality
and freshness of their food offered to consumers. They would also
benefit by not wasting “usable” food.
U.S. Citizens Initially we will focus on the U.S. domestic market.
Those Concerned
With Their Health
Food Safe will provide reassurance to both cautions and careless
consumers regarding their health.
Consumers That
Value High Quality
Products
Food Safe will address the needs of customers unsatisfied with the
current, flimsy, state of semi-disposable food containers.
Online Shoppers Since Food Safe will begin as an online product, it will depend
heavily on an internet-savvy consumer. Eventually, Food Safe will
expand into the retail market.
Figure 3: Primary Subgroups within Food Safe’s Addressable Market
Competitive Environment
Consumer-oriented food containers compete on three key factors: durability, size, and material.
The dominant materials in the food container industry are rigid plastics, glassware, and paper
(paperboard). Food Safe is planning to enter into the glassware section of this material-focused
industry. Because our product is more expensive than many of our competitors, Safe Solutions
believes that occupying the smaller glassware market is a more prudent decision than attempting

to directly compete with rigid plastic companies, especially when Safe Solution’s commitment to
quality in our products is considered.
Barriers to Entry
Food Safe faces the large market share occupied by trusted brands such as Gladware and Ziploc.
A strategic alliance with distributors and retailers allows these brands to continually place their
product in front of returning and new customers. Therefore, it is crucial that Food Safe works to
establish connections with retailers that have a broad-reaching presence in terms of region. The
internet marketplace represents a promising avenue for Food Safe to pursue heavily, as this
relatively low cost option can reach many potential customers, regardless of where brick-and-
mortar retailers are located.
One particularly notable barrier to entry Food Safe faces is the fact that switching to the Food
Safe brand requires consumers to dispose of or replace their existing food containers. To address
this, Food Safe will endeavor to clearly articulate to the consumer the technical advancement
embodied in each container. This focus on technical prowess sets Food Safe apart from many
competitors, allowing the product to not directly compete with many of the industry giants, who
do not employ this color-changing technology at all or on a large scale.
Competition
Food Safe has several main competitors that set themselves apart through a variety of products
and features. For a complete competition matrix see the appendix of this document.
Glad- This competitor sells cost effective, yet low quality plastic wrap, food
storage bags, trash bags, and Tupperware. They have a well-known presence
both online and in retail locations. Glad products come in a variety of colors
and sizes, but are less durable than Food Safe. This causes the customers to
have to replace the product more often. One Tupperware unit costs
approximately $0.70.
CARDs- A sensor developed by MIT chemists that can transmit information
on food spoilage to a smartphone. The sensor was originally designed to
monitor hazardous material and waste. The price of this technology is not
applicable as it is not currently on the market.
Bump Mark- A label that can be placed on food or containers that detects
when food has spoiled by generating bumps on the label. The product
demonstrates a higher likelihood of emerging into the market than others,
which makes Food Safe consider Bump Mark a major competitor. However,
the Bump Mark label and container must be thrown out, meaning it is not
reusable like Food Safe.

Pyrex- Kitchenware that is considered to be durable, and of a high quality in
the realm of food containers. Pyrex containers are made of durable ceramic
glass. Although Food Safe sees the potential for direct competition with
Pyrex, this competitor lacks the color-changing technology that Food Safe
will provide. One Pyrex unit costs $6.99.
Opportunity
Food Safe is an ideal food storage solution for early-adopter families with discretionary funds.
As shown, this market segment has a proven potential for growth. Therefore, Food Safe will be
entering a growing market that will respond favorably to the presence of a technically superior
option for food storage.
Food Safe’s smart container technology allows it to stand out from the competition. As of now,
similar technology is being used to test for spoiled meat or hazardous materials, but has yet to be
applied in a reusable, consumer-oriented setting. Food Safe’s focus on quality ensures that
consumers will be satisfied with their choice to invest in a durable and long-lasting product.
Marketing
Safe Solutions conducted secondary market research early in the product development process
for Food Safe. Primary surveys were conducted on February 12, 2016 at King Soopers in
Boulder. Food Safe team members interacted with customers of varying ages in an effort to get
impressions from a wide range of our potential market. Of primary concern to Safe Solutions
was customers’ ‘gut reactions’ to Food Safe. In addition, where customers would expect to find
our product, what mattered to them in the Food Safe product, and how much they expected it to
cost were all questions Safe Solutions sought to answer through this research.
Of those surveyed, 61% stated they were interested in Food Safe. These customers further stated
that both price and durability were the most important factors influencing their buying decision.
Furthermore, a significant amount of respondents indicated that they would expect to find Food
Safe in a ‘big box’ store like Target or Wal-Mart, rather than at a local grocery store. Of those
surveyed, the price point for Food Safe popular with consumers fell primarily into two ‘sweet
spots:’ $15, and $8-9. List prices of $10-$12 and $5-6 were also popular. Because of the
disparity between this pricing data, and the financial feasibility of creating the Food Safe product
as intended, it was at this juncture that Safe Solutions elected to fundamentally change Food
Safe’s pricing and availability to vendors to a market segment that mirrored a focus on premium
pricing, rather than cost-effectiveness.

Figure 4: “Gut Interest” Reactions to Food Safe
Customer Profile
Food Safe’s target demographic consists of on-the-go individuals and families. Consumers who
purchase similar products such as Tupperware tend to claim $40,000-$125,000 in yearly income,
and possess an advanced degree through an institute of higher education such as a four-year
university (InfoScout).
Channel Strategy
Based on research findings, traditional brick-and-mortar retailers are where most people first
expected to find the Food Safe product. As a result, Year 1 of internet sales is intended to drive
credibility to expand into these outlets. In the second and third years of operating, Food Safe will
enter into two retail stores: Target and Bed Bath & Beyond.
Positioning
Food Safe will initially be sold at a premium price to support our belief that our company is
producing a quality product. Food Safe’s durability and intelligence gives consumers confidence
when selecting it over competitors, and will add substantial value to the consumer well after the
purchasing decision. Careful choice of key retailers allows for Food Safe to be placed in retail
locations that appeal most to its addressable market.
Branding Strategy
Safe Solutions Inc.’s name suggests that we care about the safety of our clients and customers.
The company logo, a set of polymer rings followed by our company name, will remind
consumers of our commitment to science and advanced knowledge. The Food Safe logo conveys
that Food Safe is family friendly, and reminds the consumer that Food Safe cares for their
wellbeing. Green inspires wellbeing, balance, and freshness, which are all qualities Food Safe
aims to promote in our consumer’s lives.
22%
39%
22%
11%
6%
Definitely would buy
Probably would buy
Might or might not buy
Probably would not buy
Definitely would not buy

Figure 5: The Food Safe and Safe Solutions, Inc. Logos
Pricing Strategy
Safe Solutions will initially sell Food Safe at a $20 single-unit price, both through online and
traditional retail avenues. Assuming each retailer requires 40% of our yearly earnings in
exchange for selling our product, Food Safe will receive $12 per unit in Years 2 and 3. Food
Safe’s manufacturing efficiency is expected to improve by 33% by the end of Year 1. Once the
primary point of sale for Food Safe is through retail avenues, gross margin per unit will decrease
from $15 per unit to $8 per unit. Nonetheless, this loss per-unit will be accounted for in the
substantial increase sales volume that will result from retail partnerships.
In the second and third years of operation, Food Safe has accounted for a reduction in variable
cost to $2 per lid. Both manufacturing costs of lid and glassware at Jia Bao Glassware ($2-3 per
unit) places production of the total Food Safe product at a variable cost of $5. At a sale price of
$20, this allows us introduce a 75% markup on our Food Safe product. Additional factors
incorporated into the pricing of each container include packaging information from suppliers,
international shipping fees, product volumes, and competitor values.
Digital and Communication Strategy
For Year 1, Safe Solutions will utilize Weebly business package to host the website for Food
Safe which includes a domain name, hosting, E-commerce, website maintenance, and inventory
management appropriate for a business of Food Safe’s initial size. Costs for Weebly and
additional components of Food Safe’s digital and communication strategy are outlined below.
Website—Weebly Business
Package
$300
Facebook and Google
Advertisements
$2,000
Direct Marketing—Robly $385
SEO Agency $30,000
Figure 6: Costs of Food Safe’s Digital and Communication Strategy in Year 1
Food Safe will utilize social media for networking, referrals, and advertising. Facebook ad
targeting will cost Food Safe $2,000 per year. In addition, Food Safe will have a social media
presence on Twitter, Instagram, and possibly employ Snapchat initiatives in localized areas, in
order to gain more followers and exposure for the brand during community events. Safe

Solutions will also use Robly as a direct response advertising and communication platform,
which will give Food Safe the ability to release bi-weekly newsletters, special offers, and
coupons directly to consumers. In order to further enhance Food Safe’s digital reach, Safe
Solutions will hire an SEO agency for $2,500 per month to optimize Food Safe’s overall web
presence.
Revenue Model
To estimate total revenue, Safe Solutions used the ‘top down’ model for Food Safe. Values used
within this model were reached as a result of using data including market size, historical industry
growth rates, typical growth rates for startups, and expected sales increases after partnering with
Target and Bed Bath & Beyond. By the end of Year 3, Food Safe projects sales volumes will
have reached 10,030 units per month.
Food Safe’s addressable market has been determined to consist of 21.5 million households. Since
small food container brands have a national market share of 8%, Food Safe products can
potentially reach 120,400 individuals in a year. At the start of Year 1, Food Safe will sell our
products mainly online, and reach 1.5% of 10,030 consumers, or 156 people.
Following conservative estimates of the historic growth rate of food storage containers (4.5%),
expected growth for small startup businesses (158%), and the increase in sales due to partnering
with Target in Year 2 (27%) and Bed, Bath & Beyond in Year 3 (27%), Food Safe can expect to
sell 3,852 units in Year 1, 15,006 units in Year 2, and 65,388 units in Year 3.
Figure 7: Projected Cumulative Sales of 3-Pack Lid Sets and Food Safe Containers by Month
through Year 3
In addition to traditional container sales, Food Safe will offer customers the option to purchase a
three-pack of lids that will fit their already-purchased Pyrex glass containers. Because nearly 80
million American households own a Pyrex product, this dramatically opens Food Safe’s
addressable market (Schuman, 2015). 40 million of Pyrex’s 245 products are sold annually. Of
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Food Safe Containers

these products, Pyrex® Simply Store® 6-pc Rectangular Set (which mimics the dimensions of
our lid design) makes up 163,265 of the products sold annually. If consumers were to buy Food
Safe lids to replace their already purchased Pyrex lids, it is reasonable to expect an adoption rate
of 10-35% of this market. By including those families that already own Pyrex products and
continuing with the same growth rate as above, Food Safe can expect to sell 90,101 three-pack
lids by the end of Year 3.
Operations
Initial production for the Food Safe product will primarily be conducted in China through Jia
Bao glassware manufacturing, and technical partnerships with Peking University, located in
Beijing. Through a carefully prepared and organized supply chain, Food Safe plans to have a
physical product ready for shipment to customers by January, 2017. Before this can occur, Food
Safe will establish the infrastructure necessary to accomplish this goal. Progress will be
monitored through key dates and validation of the product through testing.
Figure 8: Peking University, Jia Bao Glassware
Operations Strategy
Online sales will be met with rapid shipment to the customer. Food Safe will have the ability to
monitor customer buying habits while offering our product to a nationwide market. Additionally,
this will serve to solidify and validate demand for Food Safe, which will be crucial for successful
expansion into retail partnerships.
While outsourcing manufacturing process reduces costs, it also gives the customer a fair price
during initial years of offering. At the same time, Safe Solutions has resolved to not sacrifice
quality of our Food Safe product in the name of a better bottom line. In addition, Safe Solutions
is exploring FDA certification for Food Safe. Through these core areas of focus, and with
strategic partnerships in place to enact them, Safe Solutions believes that Food Safe has a
competitive advantage over competitors.
Scope of Operations
Food Safe will lend technical staff to manufacturing partners at key times in the development
process. Jia Bao has a proven track record for large-scale food container production, with over
10 years of experience manufacturing glassware for the Chinese market. From the beginning of
development, Food Safe and partners at Jia Bao and Peking University will have the technology
for the lid designed, tested, and implemented in a manufacturing setting within a 6-month time
period.

Processing and order fulfillment will take place at a warehouse in Colorado by the Food Safe
staff. Based off of projected sales volumes for the first three years, this warehouse will need to
be between 1,000 and 2,000 square feet. This establishment will also provide Food Safe a facility
to monitor products for quality, and house our administrative offices. Initially, installation and
service in the field will be conducted by local shipping companies. In subsequent years, the
shipping process will be prepared at this site, with partners executing deliveries to retail locations
and the end customer.
Customer service issues and questions will be handled in house, by qualified and trained Safe
Solutions employees. Customers will be able to call Safe Solutions directly, or contact us to
provide feedback through our website. If customers call in about glassware or lid production
issues specifically, their questions may then be referred to representatives at Food Safe’s
overseas manufacturers if deemed necessary.
Staffing
Initially, Food Safe will employ seven people full time. Of these seven, five are founders, and
will fulfill executive and ownership roles in the company. In addition, a materials scientist and
customer service representative will fill crucial roles in Food Safe’s team. As demand for our
products grow, Food Safe will incrementally hire more employees to meet demand. Over the
course of the first three years, our company will incrementally hire three warehouse workers and
a human resources employee. By the end of Year 3, our company will consist of 11 people. For
more on the core competency and experience of the founders of Safe Solutions, see the
management section of this plan.
Figure 9: Growth of Staffing for Food Safe
Production and Service Capacity
Initially, Food Safe will receive an order of 5,000 containers. For the first year, projected sales
volumes of 3,852 container units, and 5,200 3-pack of lids sales are expected. With sales
volumes increasing consistently each year, Food Safe plans to bring lid-manufacture in-house by
the end of Year 4, anticipating increasing production efficiency and volumes.
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Research, Development and Engineering
Initial dimensions of the Food Safe Containers and Lids are as follows: (2) 400 ml containers,
and (2) 750 ml containers per set of Food Safe containers. All Food Safe lids will initially be the
same dimensions to ensure universal fit to all glassware containers. Initially developed to detect
the expiration of milk, Dr. Chao Zang and his research team at Peking University have
developed Smart Tags, a technology that can sense and respond to changes within a packaged
environment. These tags are made of compounds known as nanorods, and are composed
primarily of gold, silver, and acetic and lactic acids. When paired with vitamin C, these tags
change color progressively (i.e. red or orange when fresh, yellow or green when spoiled). Dr.
Zang and his team have successfully used this tag for detection of E. coli in milk. These tags,
which are approximately the size of a kernel of corn, cost researchers between $0.01-0.05 to
make, and have the potential to be packaged into a unit like the Food Safe container lid.
Figure 10: Technical drawing of the Food Safe lid, Smart Tag on Fingertip
Of primary concern to Food Safe, its partners, and the customer, is the quality and functionality
of the Food Safe container and lid technology. As a result, a Food Safe materials scientist will
oversee development of the design and mass production of the color-changing technology. In
addition, they will initiate several stages of product testing before Food Safe is brought to the
public market in January 2017.

Key Milestones
Safe Solutions plans to begin development of Food Safe in May of 2016. In order to initiate
research, technical representatives of Food Safe will meet with Dr. Chao Zhang and Peking
University, in order to negotiate technology licensure and begin the filing process for patents.
Beginning this step early will give both Food Safe and our technical partners six months for the
technology to be perfected and applied to the product before Food Safe is brought to market.
Within the next month, additional meetings will be conducted with Jia Bao Glassware, where the
glass containers will be manufactured, and with whom Dr. Chao and Peking University will
partner for mass-producing the advanced technology lids.
By August of 2016, Safe Solutions will obtain prototype glassware and lids with Smart Tags
technology incorporated. In September of 2016, the first stages of alpha testing will be initiated.
This will be conducted with one hundred households using the samples obtained from the
manufacturing process. At this time, Safe Solutions will also invest in a warehouse that will
serve as the company’s storage facility, office, and distribution center. This will also be the point
in time that the company website will begin to be created.
Figure 11: Key Milestone Timeline, From May 2016 to January 2017
By November of 2016, the color-changing technology for the lid will be in the final stage of
research. The manufacturing process will be refined and finalized. Beta testing will be conducted
with 500 households in the vicinity of the Safe Solutions warehouse, and the website will be
finalized and checked for functionality. Initial shipments of glass containers and lids will arrive
from China to the United States by December 20, 2016, and will be in the Safe Solutions
warehouse by December 31. The final Food Safe product will be available online and ready for
shipment in January of 2017. Advertising for Food Safe will also have begun online through
social media, the company website, search engine optimization, magazines, and YouTube
tutorials. By the early months of the following year, January-March of 2018, Safe Solutions will
have completed negotiations to transfer Food Safe into retail stores.
5/1 5/31 6/30 7/30 8/29 9/28 10/2811/2712/27 1/26 2/25
Peking University, Technical Alliance
Jia Bao Glassware, Supply Chain
FDA Compliance
Licensing and Manufacture
Alpha Testing (10-20 families/sites)
Production Initiated
Initial Shipment Arrival
Product Ready for Release
Date (May '16-Jan '17)
Duratio
n

Management
Safe Solutions has taken steps to ensure that the Food Safe product line is handled in a
professional and careful manner. To achieve this, our company has been formed with quality
people in positions that will both play to their strengths, and ensure a complete and effective
management team:
Eric Gunderson, Chief Executive Officer:
Eric Gunderson has a Bachelor’s degree in geology, with an emphasis in hydrology, and a Minor
in business from the University of Colorado Boulder. Eric honed his public speaking and
interpersonal skills while serving as a coach for working professionals with Dale Carnegie. In
addition, Eric brings practical experience in professional preparation and attention to detail to
Food Safe through 10 years of experience as a national and regional championship-winning
driver, coach, and team leader in the motorsports industry. Eric also has extensive experience
with practical marketing and component design. As CEO, Eric will be responsible for all day-to-
day management decisions and for implementing Safe Solution’s short term and long term plans.
Eric will also be a direct liaison between the Board of Directors and the rest of the company.
Kristen Smith, Chief Financial Officer:
Kristen Smith earned a Bachelor's degree in environmental studies, and a Minor in business at
University of Colorado Boulder. She is a member of Phi Beta Kappa and the Golden Key Honor
Society. She gained leadership and analytical skills through her experience as Director of
Finance and Community Outreach Leader for the Environmental Studies Club. Kristen also
brings a depth of interpersonal skills, an ability to communicate effectively, excellent time
management, and a superb attention to detail to Food Safe. As CFO, Kristen will be responsible
for financial planning, record keeping, and reporting finances to the Board of Directors.
Jenna Caldwell, Chief Marketing Officer and Vice President of Sales:
Jenna Caldwell has a Bachelor's degree in communication, a Minor in business, and a certificate
in Entrepreneurship from the University of Colorado Boulder. She has gained over four years of
experience while working as a strategic communication and marketing intern for two businesses,
as well as the restaurant and real estate investment industries. Other skills that she offers are
accounting, human relations, public speaking, leadership, and customer service. Jenna will be
responsible for leading sales management, product development, distribution channel
management, marketing communications (including advertising and promotions), pricing,
market research, and customer service.
Mason Mears, Chief Technology Officer:
Mason Mears has a Bachelor's degree in biochemistry, and Minors in chemistry and business
through the University of Colorado Boulder. Mason offers exceptional customer relationship
skills through his work with the Youth Service Initiative and the department of parks and
recreation in Boulder and through his work in the restaurant industry. He also has experience
through his lab work at Air Pollution Testing Inc. in producing standard operating procedures in

the laboratory ensuring a reproducible method and product. Mason will be responsible for
scientific and technological issues and future directions.
Ashley Schuett, Chief Operating Officer:
Ashley Schuett graduated from the University of Colorado Boulder with a Bachelor’s degree in
psychology and a Minor in business. Ashley has extensive experience in the field of clinical
psychology through her work as an evaluator in a Psychiatric ER. As a research assistant for a
social psychology research lab, she has a comprehensive knowledge in experimental design,
statistics, coding, and data analysis. In the business realm, she especially enjoys marketing and
management. Ashley will be responsible for the daily operations with the company and work
closely with Eric to ensure that these operations are being carried out efficiently.
Board of Advisors
• Ron Dunlap, COO for Graebel: Mr. Dunlap has extensive experience in managing
organizations, and overseeing international operations for Graebel.
• Zach Shepard: Mr. Shepard brings an extensive background in biochemistry and
chemistry to his advisement for Food Safe.
• Derek Lacey, durability test engineer for Chrysler: Mr. Lacey has extensive experience
with advanced materials implementation in mass production, performance testing, and in
product development.
• Sky Gomer, accredited angel investor: Mr. Gomer has funded and worked with multiple
companies to facilitate their success.
• Bill Cathey, investor: Mr. Cathey has invested in various companies, and also started
Earthfield Technology.
Figure 12: Management Structure at Food Safe
Board of
Advisors
Eric Gunderson
CEO
Mason
Mears
CTO
Jenna
Caldwell
CMO, VP of
Sales
Customer Service
Representative
Human
Resources
Employee
Kristen
Smith
CFO
Ashley
Schuett
COO
3 Warehouse
Employees

Ownership Structure
Each of the 5 founders of Food Safe will own 17.9% of the company. At the end of Year 3, this
number will be valued at a total of $13,920,383 for all five founders.
Figure 13: Ownership Structure Breakdown by Dollar Amount at the End of Year 3
Risks
Safe Solutions, Inc. is committed to creating a product that will decrease the incidence of food
borne illness. As a team, Food Safe’s staff and partners demonstrate a passion for our product
that is unparalleled by competitors in the food storage industry. However, every venture faces
inherent risks. Below, Safe Solutions has outlined several potential risks, as well as our strategies
to mitigate them.
Market
Safe Solutions expects sales for Food Safe to reach our targeted sales forecast of 10,030 units per
month by the end of Year 3. The calculations used to arrive at this number were meticulously
computed and conservative in nature. The general food industry market is insulated from facing
extreme economic downturn because everyone purchases food. However, Safe Solutions runs the
risk of overestimating the size of the addressable market, and the willingness of our customers to
pay a premium for our product.
To mitigate this risk, our product must be marketed effectively. With an initial monthly
advertising budget of $1,191, our marketing team will be tasked with the responsibility of
communicating to the public why Food Safe is a prudent and quality investment. Through our
YouTube demonstrations, billboard advertising, social media presence, and Safe Solutions’
Weebly website, Food Safe will demonstrate a simple cost-benefit analysis. Food borne illnesses
pose a $77.7 billion economic burden on the United States annually (Bottemiller, 2012). This
sobering dollar amount, along with the price of perfectly good food that consumers throw away
every day, will help reduce the consumer’s “buying anxiety” when they invest in our product.
Angel Investor
Owner's Equity
Friends and Family
$1,555,350
$77,768
$13,920,383

First-time users must have a positive experience with Food Safe. To ensure this, our beta testing
will consist of 500 households that will help us to continually refine Food Safe until it is ready
for the market. If Safe Solutions still struggles to meet its financial projections, new sales
strategies will be implemented accordingly. Food Safe’s marketing team will work tirelessly to
understand our consumers’ needs and to ensure revenue goals are met.
Strategic
When outsourcing Food Safe production to an international company, there can be various risks
that may occur. One potential risk is that Jia Bao Glassware, Food Safe’s main outsourcing
manufacturer in China, may have complications and our partnership could potentially fall
through. In the case that Food Safe’s glassware manufacturer does not create a product to
required standards or decides not to accept Safe Solution’s business, our company has explored
other manufacturing options. The Le Shin Corporation, for example, is another possible
company that can meet the quality and quantity of products we expect to produce.
Technical
Of primary concern to Safe Solutions and potential investors is the nature and strength of the
alliance that will be formed with the research team at Peking University. Their technology is
what Safe Solutions intends to utilize in the Food Safe product. Because of the risk inherent in
any technical partnership, Safe Solutions will take steps to ensure that alternatives are available.
In particular, the principal alternative technology that could be applied to the Food Safe product
most easily would be the Bump Mark technology still under development by domestic
researchers. This technology has similar capabilities to the technology employed at Peking
University.
A secondary risk to the success of the Food Safe product is an extended period of technical
development. Anticipating this issue, Safe Solutions has elected to retain and hire a materials
scientist to oversee the technical development of our product. This member of our staff, as
explained previously, will be in charge of overseeing technical milestones, and will lead testing
programs to ensure Food Safe is ready for market launch by January, 2017.
Lastly, for many products, the issue of ramping up supply of product from suppliers can be
problematic. At Food Safe, our initial excess of food container stock will allow us to anticipate
an uptick in sales and demand, and react accordingly, ensuring that Food Safe has enough time
for overseas production to scale up to new demand amounts, mitigating the potential for
inventory shortage.
Financial
Safe Solutions requires $690,690 for funding. In order to achieve these funds, Safe Solutions will
be relying primarily on an angel investor, and receiving a 7(a) loan from the Small Business
Administration of $222,640. Although it is highly likely to receive the SBA loan, as the average

loan given out in 2015 was $371,628 (7a loan amounts, fees and interest rates, 2016), there is
still the possibility that Safe Solutions will not receive the loan. In this case, our company has a
few options in order to receive the necessary funds. It is possible to rely even more on the angel
investor. However, as the angel investor already owns 10% of the company this may not be the
primary option pursued. Instead, the owners can look towards friends and family to invest more
and also invest more themselves. Safe Solutions can also take out a loan from a bank or search
for state and city grants such as the Colorado Startup Community Fund (Colorado Startup
Community Fund, 2016). These local grants could fill the funding deficits and also increase the
connection of Safe Solutions with the community.
Financials
Safe Solutions has identified several key drivers for Food Safe’s financial success. Revenue,
large investments, advertising, and research and development are factors that are vital to the
growth, costs, and cash flow of Food Safe. The following financial projections are based on
meticulous research and conservative estimates.
In Year 1, Food Safe must sell $675,592 in revenue in order to cover our total fixed business
expenses of $484,339. This is due, in part, because every dollar Food Safe sells, 28% can be
attributed to the cost of goods sold, while 72% is profit. After Food Safe enters the retail market
in Year 2, gross profit margin will significantly decrease. At this point, for every dollar Food
Safe sells, 33% can be attributed to the cost of goods sold and 66% is profit. However, by
entering into these retail stores, Food Safe also witnesses a significant increase in sales. Food
Safe expects to breakeven in the fourth quarter of the second year of operation. This is specified
by the point where our total income equals our total expenses.
Figure 14: Breakeven Analysis by Quarter for Food Safe
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
TotalIncomeandTotalExpenses
Total Income
Total Expenses

Food Safe will begin to generate positive income in its 22nd
month of business. The figure below
shows Food Safe generating a positive growth of $232,083 in net income from Year 1 to Year 2,
and an additional positive growth of $916,434 in net income from Year 2 to Year 3. The
exponential growth seen here mirrors Food Safe’s breakeven analysis.
Figure 15: Net Income for Food Safe by Year
Food Safe expects to have a positive cash flow by the end of Year 2. Key expense assumptions
include research and development, legal and professional fees, contract labor, and advertising.
Research and development includes the hiring of a materials scientist, YouTube demonstrations,
beta testing, and license and patent applications for a total of $198,994 for all three years. Legal
and professional fees were estimated at $556 per month, contract labor is assumed to cost $1,458
per month, and Food Safe plans to spend about $1,000 per month on advertising.
Food Safe’s balance sheet takes into account assets, liabilities, and owner’s equity. By the end of
Years 1 and 2, Food Safe has a negative value in our retained earnings. This number corresponds
with the negative total net income in the income statement. By the end of Year 3, however,
retained earnings will be positive, and Food Safe’s total owner’s equity will be $736,124,
making this a very attractive investment. Also, as Food Safe pays off the principle on loans, the
loan payable amount decreases but is countered by a decrease in assets—cash. However, this is
only a temporary decrease in cash, as by the end of Year 3 Safe Solutions will have a total cash
balance of $907,999.
Food Safe’s ROE is 105.6% at the end of the third year. This implies that for every dollar in
equity, Food Safe is generating $1.05 in profit, indicating that shareholders are faring relatively
well (Nelson, 2014). For Tupperware Brand Co., their ROE as of September 15, 2015 was
95.83% (“Tupperware Brands Corp.”). Food Safe’s ROE is comparatively high because of its
efficient utilization of equity. Moreover, Food Safe’s return on assets (ROA) is 83.7% at the end
of Year 3. Tupperware Brand Co. has an ROA of about 11.03% (“Tupperware Brands Corp.”).
Food Safe’s ROA is high, and indicates an efficient use of assets. Finally, Food Safe’s profit
margin is 66.7% at the end of Year 3. Since Tupperware’s gross profit margin is about 67.41%,
-$600,000
-$400,000
-$200,000
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
Year 1 Year 2 Year 3
NetIncome

this further justifies the raw pricing of our product in comparison to the cost of goods sold.
(“Tupperware Brands Corp.”, 2016).
Figure 16: Cash Flows for Food Safe by Quarter
Funding
Food Safe will need an initial startup funding of $222,640, which includes a 20% financial
cushion in the form of working capital. In the first year of operation, Food Safe requires an
additional $340,553 to cover inventory, salary, and losses expenditures. In the second year, Food
Safe will have cut this funding need in half, to $127,497 before our breakeven point. In total,
Food Safe requires $690,690 in funding for the initial three years of operating.
Funding Strategies
Safe Solutions will seek three different sources of funding Food Safe: equity funding, debt
financing, and nontraditional financing. In the form of entrepreneur’s savings and assets, $10,000
of the required funding can be contributed by each owner in order to add value to the company.
Since Food Safe has five owners, this puts our total owner’s equity at $50,000. Initially, these
five owners will be the sole investors and own 100% of the company. Over time, the ownership
of the company will become diversified as a result of several groups investing in Food Safe. The
same logic is used to calculate funding from friends and family. Food Safe assumes that each
owner can obtain $10,000 from his/her friends or family. At this early stage in business, the
founders must rely on the generosity of friends and family to further create value for the
company. Food Safe will also receive funds from an angel investor. Through an organization
called Investors Circle, Food Safe hopes to receive $268,056. This angel investor group was
selected due to their focus on health technology and sustainability startups. This group is
compatible with Safe Solution’s vision.
-$200,000
-$100,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
Cash

Figure 17: Sources of Funding for Food Safe
Safe Solutions will also receive a commercial loan from the Small Business Administration for
Food Safe (SBA loan). This loan will be worth $222,640 with an interest rate of 2.25% (7a loan
amounts, fees and interest rates, 2016). In addition to the funds already listed, Safe Solutions has
a competitive advantage when attempting to receive a grant from the Department of Health and
Human Services. The Integrated Food Defense & Emergency Response Cooperative Agreement
Program (IFD&ER CAP) grant awards are given to companies that generate food defense tools
and resources that help support food defense programs through innovative products. Food Safe
meets the criteria for this grant, and Safe Solutions is confident that Food Safe will be an
applicant that garners serious consideration upon submittal for the grant. $100,000 can be
obtained through this grant (RFA-FD-15-022, 2016).
Below, Safe Solutions has outlined uses of funding for Food Safe. Some of the major areas of
fund use include the following: initial losses, required startup funds, and a key hire. As Food
Safe goes through its initial stages of business, research and development costs necessitate the
hiring of a materials scientist, which increases our pre-opening salaries and wages. Additionally,
inventory and salary expenses drive Food Safe to take losses in its first year of business. Over
time, however, Food Safe will experience product sales growth while retaining a key core of
business-critical employees, and will achieve considerable profits by the end of Year 3.
$50,000
$100,000
$50,000
$268,056
$222,640
Friends and Family
Grant
Owner’s Equity
Angel Investment
from Investor’s Circle
SBA Loan

Figure 18: Uses of Funds for Food Safe
Offering and Valuation
To determine the value of the Food Safe company, Safe Solutions used the price/earnings
multiple method, by multiplying the Year 3 net income by a factor of 20. For Safe Solutions, the
resultant value of the company is $15,553,500. Safe Solutions expects to obtain $50,000 from
friends and family and are offering a 20% rate of return over the next three years. This gives
those investors approximately 0.5% ownership of the company. Safe Solutions will need an
additional investment of $268,056 from angel investors. With a rate of return of 80%, this gives
the angel investors roughly 10% ownership of Safe Solutions.
Safe Solutions’ extensive research on market trends, costs, and revenue projections has made the
Food Safe unique venture a reality. The level of research and care placed into preparing the
values and estimates used to reach the financial conclusions presented will create a sense of
confidence in the feasibility of the plan, and will prove to be an attractive investment
opportunity. The relatively high rate of return and return on equity is an appealing aspect of the
Food Safe enterprise and should be taken into consideration by investors and government
agencies alike.
Required Start-up
Funds
Losses in First Year
Key Hire in First Year
(Material Scientist)
$370,842
$97,208
$222,640

Works Cited
CBSNews. American Chemical Society, 17 Mar. 2014. Web. 9 Feb. 2016.
Centers for Disease Control and Prevention. Centers for Disease Control and Prevention, 08 Jan.
2014. Web. 12 Apr. 2016.
"Colorado Startup Community Fund." Colorado Startup Community Fund. N.p., n.d. Web. 05
Apr. 2016.
Glad Plastic Container. Digital image. Glad. N.p., 2016. Web. 9 Feb. 2016.Jaslow, Ryan.
"Smart Tags Change Color When Food Goes Bad." CBSNews. CBS Interactive, 17 Mar.
2014. Web. 07 Feb. 2016.
Jeffrey, Terence P. "Census: Americans in 'Poverty' Typically Have Cell Phones, Computers,
TVs, VCRS, AC, Washers, Dryers and Microwaves." CNS News. CNS News, 11 Sept.
2013. Web. 06 Feb. 2016.
JP. "How Much Food Does the Average American Waste?" U.S. News Money. N.p., 2 Apr.
2013. Web. 8 Feb. 2016.
Kerr, Dara. "'Smart Tags' Can Sense When Food or Medicine Go Bad." CNET. 18 Mar. 2014.
Web. 07 Feb. 2016.
Levins, William. "How to Price Your Product for Retail, Distributor, and Direct to Consumer
Sales." How to Price Your Product for Retail, Distributor, and Direct to Consumer Sales.
Nuvonium, 10 Apr. 2011. Web. 22 Feb. 2016.
Nelson, Tom. BUSM2002 Accounting/Finance for Business Minors. N.p.: McGraw-Hill
Education, 2014. Print.
Prosser, Marc. "SBA Loan Rates - Current Interest Rates and How They Work." Fit Small
Business. N.p., 01 Mar. 2016. Web. 15 Mar. 2016.
"RFA-FD-15-022: Integrated Food Defense & Emergency Response Cooperative Agreement
Program IFD&ER (U18)." RFA-FD-15-022: Integrated Food Defense & Emergency
Saibus Research. "Tupperware Brands: Undue Emphasis On The Past 5 Quarters Creates An
Attractive, Low-Risk Opportunity." Seeking Alpha. Seeking Alpha, 21 Jan. 2015. Web.
06 Feb. 2016.
Smart Tags Change Color When Food Goes Bad." CBSNews. CBS Interactive, n.d. Web. 01
Mar. 2016.
The MIT Researchers' Wireless Chemical Sensor. Digital image. MIT News. N.p., 8 Dec. 2014.
Web. 9 Feb. 2016.
The Statistics Portal. "Number of Households in the U.S. 1960-2015 | Statistic." Statista. Statista,
2016. Web. 06 Feb. 2016.
Tupperware Dashboard. InfoScout, 2016. Web. 15 Feb. 2016.
"Tupperware Brands Corp." TUP Key Statistics. Market Watch, 8 Mar. 2016. Web. 09 Mar.
2016.
"Tupperware Brands Corp." TUP Annual Income Statement. Market Watch, 5 Feb. 2016. Web.
06 Feb. 2016.
U.S. Census Bureau, 2 Dec. 2015. Maze. 06 Feb. 2016.
"U.S. and World Population Clock." Population Clock. United States Census Bureau, 09 Feb.
2016. Web. 09 Feb. 2016.
"7(a) Loan Ammounts, Fees and Interest Rates." Small Business Administration. N.p., n.d. Web.

Appendix A: Competition Matrix
Price Glass
Color-changing
technology Durability Reusable
Alerts
Food
Spoilage
Variety of
colors/sizes Comments
Glad $0.70 x x Inexpensive
CARDs N/A x
Disposable, wireless
application
Smart Tags N/A x x Cost 1/5 penny to make
Bump Mark N/A x Tactile bumps
Pyrex $6.99 x x x x
Microwave/dishwasher
safe
Food Safe $20 x x x x x x
Appendix B: Customer Research
Customer
Howlikelyareyoutobuythisproduct/service?
How Much would you
be willing to pay for
this product? ($)
Where would you expect to
find this product?
Secondary Location
Comment
(unsolicited)
Location Durability Design Price Other
1 Definitelywouldbuy 15Costco x x x Accuracy
2 Definitelywouldnotbuy 25BedBathBeyond x Accuracy
3 Probablywouldbuy 15ContainerStores GroceryStores x x Accuracy
4 Definitelywouldbuy 15grocery x Accuracy
5 Probablywouldbuy 15Grocery Specialty x x x Accuracy
6 Probablywouldbuy 10KingSoopers CookingStores x x DropProtection
7 Probablywouldbuy 10KingSoopers x x x Material
8 Probablywouldbuy 10KingSoopers x x Material
9 Probablywouldbuy 9notgrocery x x Recognition
10 Definitelywouldbuy 8Specialty GroceryStores Recognition
11 Probablywouldbuy 8Specialty GroceryStores x x SameSizeasExisting
12 Might,mightnotbuy 8Specialty GroceryStores x SealLid
13 Might,mightnotbuy 6Target x x ToasterOven
14 Might,mightnotbuy 6Target Walmart x
15 Might,mightnotbuy 5Target Costco x x
16 Definitelywouldnotbuy 5Target x x

Appendix C: Financial Documents
Food Safe Yearly Balance Sheet
End of Year One End of Year Two End of Year Three
Assets
Current Assets
Cash $163,081 $57,269 $907,999
Inventory $17,500 $17,500 $17,500
Prepaid Expenses $106,613 $53,307 $0
Other Current $333 $167 $0
Total Current Assets $287,527 $128,242 $925,499
Fixed Assets
Equipment $2,412 $2,412 $2,412
Furniture and Fixtures $6,724 $6,724 $6,724
Total Fixed Assets $9,136 $9,136 $9,136
Less: Accumulated Depreciation $1,689 $3,379 $5,068
Total
Assets $294,974 $133,999 $929,567
Liabilities and Owner's Equity
Liabilities
Accounts Payable $4,828 $12,988 $61,949
Loan Payable $192,938 $162,562 $131,494
Total Liabilities $197,766 $175,550 $193,443
Owner's Equity
Common Stock $468,050 $468,050 $468,050
Retained Earnings -$370,842 -$509,601 $268,074
Total Owner's Equity $97,208 -$41,551 $736,124
Total Liabilities and Owner's Equity $294,974 $133,999 $929,567

Food Safe Quarterly Income Statement
Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019
Total Income: $31,962 $45,357 $64,366 $91,341 $76,949 $107,529 $150,263 $209,980 $305,032 $450,778 $666,169 $984,493
Total Cost of Sale: $9,060 $12,858 $18,246 $25,893 $25,650 $35,843 $50,088 $69,993 $101,677 $150,259 $222,056 $328,164
Gross Margin: $22,902 $32,500 $46,120 $65,449 $51,299 $71,686 $100,176 $139,987 $203,355 $300,518 $444,113 $656,329
Total Salary and Wages: $101,340 $101,340 $101,340 $101,340 $90,520 $88,023 $94,704 $94,704 $115,293 $115,293 $123,763 $123,763
Fixed Business Expenses:
Advertising $3,480 $3,480 $3,480 $3,480 $3,584 $3,584 $3,584 $3,584 $3,943 $3,943 $3,943 $3,943
Car and Truck Expenses $1,929 $1,929 $1,929 $1,929 $1,987 $1,987 $1,987 $1,987 $2,185 $2,185 $2,185 $2,185
Discounts and Refunds $2,504 $2,504 $2,504 $2,504 $2,579 $2,579 $2,579 $2,579 $2,837 $2,837 $2,837 $2,837
Legal and Professional Fees $1,669 $1,669 $1,669 $1,669 $1,719 $1,719 $1,719 $1,719 $1,891 $1,891 $1,891 $1,891
Rent (on business property) $3,563 $3,563 $3,563 $3,563 $3,669 $3,669 $3,669 $3,669 $4,036 $4,036 $4,036 $4,036
Other $5,001 $5,001 $5,001 $5,001 $5,151 $5,151 $5,151 $5,151 $5,666 $5,666 $5,666 $5,666
Total Fixed Business Expenses $18,146 $18,146 $18,146 $18,146 $18,691 $18,691 $18,691 $18,691 $20,560 $20,560 $20,560 $20,560
Other Expenses:
Amortized Start-up Expenses $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368 $13,368
Depreciation $422 $422 $422 $422 $422 $422 $422 $422 $422 $422 $422 $422
Loan $1,239 $1,197 $1,155 $1,113 $1,071 $1,029 $986 $943 $900 $857 $813 $769
Taxes - - - - - - - - $13,236 $32,677 $59,711 $102,163
Total Other Expenses $15,029 $14,988 $14,946 $14,904 $14,862 $14,819 $14,777 $14,734 $27,927 $47,325 $74,315 $116,723
Net Income: -$111,614 -$101,974 -$88,312 -$68,942 -$72,773 -$49,847 -$27,996 $11,858 $39,575 $117,341 $225,475 $395,283

Food Safe Quarterly Cash Flows
Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q4/2019
Beginning Cash Balance: $1,406,780 $1,102,955 $831,152 $606,480 $414,836 $242,303 $137,480 $117,776 $218,775 $465,848 $990,219 $1,925,076
Cash Inflows:
Income from Sales $31,962 $45,357 $64,366 $91,341 $76,949 $107,529 $150,263 $209,980 $305,032 $450,778 $666,169 $984,493
Total Cash Inflows $31,962 $45,357 $64,366 $91,341 $76,949 $107,529 $150,263 $209,980 $305,032 $450,778 $666,169 $984,493
Cash Outflows:
Investing Activities
Cost of Sales $7,371 $12,150 $17,241 $24,467 $25,718 $33,952 $47,444 $66,300 $95,472 $141,088 $208,503 $308,134
Operating Activities
Salaries and Wages $101,340 $101,340 $101,340 $101,340 $90,520 $88,023 $94,704 $94,704 $115,293 $115,293 $123,763 $123,763
Fixed Business Expenses $18,146 $18,146 $18,146 $18,146 $18,691 $18,691 $18,691 $18,691 $20,560 $20,560 $20,560 $20,560
Taxes - - - - - - - - $13,236 $32,677 $59,711 $102,163
Financing Activities
Loan Payments $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601 $8,601
Total Cash Outflows $135,459 $140,237 $145,329 $152,555 $143,529 $149,267 $169,441 $188,296 $253,162 $318,220 $421,138 $563,221
Cash Flow: -$103,497 -$94,880 -$80,963 -$61,214 -$66,581 -$41,738 -$19,178 $21,684 $51,870 $132,558 $245,031 $421,272
Operating Cash Balance: $1,303,283 $1,008,075 $750,189 $545,266 $348,256 $200,565 $118,302 $139,460 $270,645 $598,405 $1,235,250 $2,346,348
Ending Cash Balance: $1,303,283 $1,008,075 $750,189 $545,266 $348,256 $200,565 $118,302 $139,460 $270,645 $598,405 $1,235,250 $2,346,348

3300 Bridger Trail, Apt. 212
Boulder, CO 80301
ERIC GUNDERSON Eric.Gunderson@Colorado.edu
858-335-7545
EDUCATION
University of Colorado at Boulder – College of Arts and Sciences
B.A. Geological Sciences Anticipated Graduation December 2016
Business Minor – Entrepreneurship Focus
WORK EXPERIENCE
ChatLingual Boulder, CO
Marketing, Sales and Lead Generation Intern January 2016-May 2016
• Facilitate meetings with Fortune 500 clients by determining points of contact
• Work with ChatLingual staff to develop industry-appropriate content
University of Colorado Boulder, CO
Student Ambassador September 2012 – March 2013
• Lead tours of the campus to prospective students
• Participated in campus events to direct and support attendees
Eric Gunderson Driver Development San Diego, CA, Boulder, CO
Owner January 2011 - Present
• Coach drivers on track technique
• Assist race teams in car fabrication, setup, safety systems
LEADERSHIP
Eric Gunderson Racing
Team Leader 2005 – 2012
• Racecar driver
• Maintenance and repair of cars and race equipment
• General preparation for race events
• Participated in designing and building innovative fire suppression and escape system in racecars.
Dale Carnegie
Coach, “Effective Communications and Human Relations” Course
2006-2007
• Lead class demonstrations, individual coaching
TECHNICAL SKILLS
Geological/Geodesy
• Proficient with ARC GIS, MODFLOW 2000
Computer
• Microsoft Office suite, VBA, Mathematica, Solidworks
AWARDS
Chancellor’s Achievement Scholarship Recipient Fall 2012
Leadership Award, Global Leadership Connection, University of San Diego Spring 2011
National and Regional Champion, International Karting Federation Summer 2007

2406 Fossil Trace Drive
Golden, CO 80401
MASON MEARS Mason.mears@colorado.edu
303-501-9449
EDUCATION
University of Colorado at Boulder – College of Arts and Sciences
B.A. Environmental Studies Anticipated Graduation May 2016
Business Minor – Entrepreneurship focus
Chemistry Minor
WORK EXPERIENCE
Air Pollution Testing Inc. Arvada, CO
Laboratory Intern May 2015-August 2015
• Compiled and analyzed test information
• Tested samples for various chemical analyses.
• Verified that information in the computer system was up-to-date and accurate
• Completed extensive glassware cleaning processes
• Compiled statistical information for special reports
City of Boulder Parks and Recreation Boulder, CO
Program Coordinator June 2014 - Current
• Created daily lesson plans for activities
• Organized activities that developed children's physical and social growth
• Redirected children to encourage safe, positive behaviors
• Worked with parents and children of other cultures
Subway Boulder, CO
Sandwich Artist June 2013 – August 2014
• Provided excellent customer service wile preparing meals
• Maintained a clean workplace during slow periods
• Counted inventory and cash at closing and locked doors
LEADERSHIP
Chemistry and Biochemistry Club Member, University of Colorado at Boulder August 2015 – Present
Youth Service Initiative Volunteer February 2014-June 2014
• Managed the daily activities of over twenty children
• Responsible for the safety of the children
Intramural Sports Captain, University of Colorado at Boulder August 2011- May 2015
• Informed team of weekly games and ensured punctuality
• Maintained team morale during difficult situations
TECHNICAL SKILLS
Computer
• Microsoft Word, Microsoft Excel, Microsoft PowerPoint

952 Marine St. Unit #1
Boulder, CO 80302
Ashley Schuett Ashley.Schuett@colorado.edu
720-233-0955
EDUCATION
University of Colorado at Boulder – College of Arts and Sciences, GPA 3.50
B.A. Psychology – GPA 3.55 Anticipated Graduation May 2016
Business Minor – Innovation Focus
Member of Psychology Honor Society
Studied at University of Sevilla in Spain, Summer 2014
WORK EXPERIENCE
Porter Adventist Hospital Psychiatric Emergency Department, Intern May 2015-Present
• Documented all steps of the ER evaluation process; prepared legal documents and evaluation
reports for use by assisting psychiatrists
• Review evaluations with ER attending physicians to collaboratively determine dispositions
• Communicate with insurance companies to authorize patient’s insurance; requires a solid
understanding of patient’s presentation, diagnosis, and reasons for meeting criteria for admission
• Handle crisis calls, explain services and make referrals by answering incoming calls to the ER
• Participate in all facets of the disposition process: call facilities to inquire about bed availability,
fax ER paperwork and discuss symptoms and acuity with other hospitals
• Observe group therapy and help with intakes in Intensive Outpatient Program settings
Emotion, Decision, Judgment, and Intuition Research Lab, Research Assistant August 2014-Present
§ Collaborate with Ph.D. students and professors to design, execute and analyze experiments
§ Present experiment findings and progress at weekly laboratory meetings
§ Participated in all measures of a published dissertation titled: Phenomenological foundations of
psychological distance
Greens Point Catering, Server August 2014-Present
§ Provide outstanding service at weddings, corporate events, and other functions
§ Assist with setting up, serving, bussing, and cleaning
VOLUNTEER AND LEADERSHIP EXPERIENCE
Counseling and Psychiatric Services, University of Colorado at Boulder August 2015-Present
• Work in collaboration with psychologists, licensed professional counselors, and social workers
• Organize and participate in outreach programs focused on mental health & wellness
• Attend skill-building trainings: basic counseling skills, multi-cultural issues, and different areas
of mental health
Family Learning Center January 2014 – Present
§ Tutor Spanish speaking students in math, science, and English
§ Mentor and connect with underprivileged Boulder area children, ages 6-16
Hospital da La Caridad May 2014 – August 2014
§ Volunteered at charity hospital located in Sevilla, Spain
§ Prepared meals for patients

1410 19th
Street Apt. 13
Boulder, CO 80303
JENNA CALDWELL jenna.caldwell@colorado.edu
970-210-0014
EDUCATION
University of Colorado at Boulder – College of Media, Communication and Information
B.A. Communication Anticipated Graduation May 2016
Business Minor – Entrepreneurship Focus
Certificate in Entrepreneurial Studies
WORK EXPERIENCE
AvenueR Group Boulder, CO
Strategic Communication and Marketing Intern December 2015 - Present
• Create different strategies for business growth and form financial projections through Microsoft Excel
• Assist clients with new avenues for revenue, marketing and financial management
• Increase clients’ online visibility and customer traffic by facilitating new website design and content
• Coordinate and attend client meetings each week
ZisBoomBah Boulder, CO
Strategic Communication and Marketing Intern December 2015 - Present
• Create web site interaction and customer traffic through press releases and email campaigns
• Assist in design and creation of ZBB Amazon store
• Construct price packages for games, books and posters to facilitate a healthier lifestyle for families
and students
• Research and analyze competitive market in order to strategize opportunities to increase customer
interest and company sales
Rakor Properties, LLC Morrison, CO
Administrative Assistant May 2014 - Present
• Manage all company investment accounts, invoices, billing and expenses
• Plan and prepare company events including budget, materials and venue
• Reorganize and maintain entire filing and billing system from 2011 to present
Circle C Outdoor Grand Junction, CO
Marketing and Advertising Intern May 2013 – January 2014
• Constructed and tracked monthly bills through Microsoft Excel
• Designed business logo to be created by graphic arts specialist
• Engaged with billboard suppliers and designers to ensure proper installation
• Developed marketing plan to grow target market with the use of fliers, social media and email
LEADERSHIP
Kappa Kappa Gamma, University of Colorado at Boulder
Member September 2013 –August 2014
• Attended weekly meetings and participated in philanthropic events
Cancer League of Colorado-Annual Hope Cancer Benefit Ball
Volunteer May 2014
• Assisted directors in set-up, silent auction promotion, and accommodated guests
• The event raised $41,000 more than the previous year
TECHNICAL SKILLS
• Experienced using social media platforms for marketing and advertising, including the use of
Twitter, Instagram, WordPress, LinkedIn and Facebook
• Proficient in Microsoft Word, Excel, Outlook and PowerPoint
• Knowledge of Google AdWords, Google Analytics and Facebook advertising for SEO

3440 Colorado Ave. Unit 112
Boulder, CO 80303
KRISTEN SMITH Kristen.p.smith@colorado.edu
303-720-2023
EDUCATION
University of Colorado at Boulder – College of Arts and Sciences, GPA 4.0
B.A. Environmental Studies Anticipated Graduation May 2016
Business Minor – Analytics Focus
Member of Phi Beta Kappa
Member of Golden Key International Honor Society
Studied at University of Otago in New Zealand Spring 2015
WORK EXPERIENCE
Thorne Nature Experience Boulder, CO
Teaching Assistant Intern July 2014-August 2014
• Coordinated a safe, educational, explorative environment for children ages 5-11
• Enhanced teacher’s lesson plans by encouraging hands-on learning and answering children’s questions
• Gained strong leadership and communication skills
Salsa Brava Highlands Ranch, CO
Hostess May 2013 - August 2013
• Provided friendly, professional customer service as greeting restaurant patrons
• Utilized problem solving skills to make sure customers and staff were satisfied
Pam Weems Highlands Ranch, CO
Tutor January 2011 - August 2012
• Encouraged child to adopt good study habits
• Guided child in his nightly coursework, resulted in an increase in grades and motivation
LEADERSHIP
Environmental Studies Club, University of Colorado at Boulder
Director of Finance August 2015 – Present
• Responsible for the budgeting and obtaining of funds for the club
• Administered applications for funds and attended hearings
Undergraduate Faculty Representative August 2014 – December 2014
• Attended weekly faculty meetings as a representative for the Environmental Studies major
• Gave input when asked about upcoming classes and formal procedures
• Summarized information from the meetings to keep club members informed
Community Outreach Leader August 2014 – December 2014
• Promoted and publicized the Environmental Studies Club
• Recruited new members by speaking in lecture halls and classrooms addressing up to 300 people
TECHNICAL SKILLS
Statistical Analysis
• STATA
Computer
• InDesign, Microsoft Word, Microsoft Excel, Microsoft Outlook
AWARDS
Dean’s Scholarship Fall 2012- Present
Ruthann LeBaron Fund Fall 2014
McCray Scholarship Fall 2015
Certificate of Excellence from Otago University Spring 2015

Acknowledgment: We would like to thank David Culbreth for all of his time and valuable insight
in office hours. In addition, thank you Dr. Keith Stockton for overseeing this class and preparing
us for our future.

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