Top 20 team in the 2018 High School Utah Entrepreneur Challenge at the University of Utah. lassonde.utah.edu/hsuec

1. Herriman High DECA
Independent Business Plan
Peyton Williams
Herriman High School
11927 S 6000 W
Herriman, UT 84096
Edison Velasco, Peyton Williams, Maelyn Dougher
February 22-23, 2018

2. Table&of&Contents
I.#Executive#Summary#.............................................................................................................#1#
II.#Problem#..............................................................................................................................#3#
III.#Customer#Segments:#..........................................................................................................#6#
IV.#Unique#Value#Proposition:#.................................................................................................#8#
V.#Solution:#...........................................................................................................................#10#
VI.#Channels#..........................................................................................................................#12#
VII.#Revenue#Streams#............................................................................................................#14#
VIII.#Cost#Structure#................................................................................................................#16#
IX.#Detailed#Financials#...........................................................................................................#17#
A. Projected income and expenses……………………………………………….18
1. Projected cash flow by month for the first year’s operation…………….18
2. Projected balance sheet, end of first year………………………………..19
3. Projected three-year plan………………………………………………….19
B. Proposed plan to meet capital needs………………………………………...20
1. Personal and internal source………………………………………………20
2. External sources…………………………………………………………….20
3. Repayment plans…………………………………………………………...21
X.#Key#Metrics#.......................................................................................................................#21#
XI.#Competitive#Advantage#...................................................................................................#23#
XII.#Conclusion#......................................................................................................................#25#
XIII.#Bibliography#..................................................................................................................#27#
&
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3. 1
9% 5 LJ P L A TTHY
AskManny fuses all aspects involved in the high school
dance-planning process into a user-friendly app. Teenagers
attending high school dances plan everything from asking a date
and purchasing dance tickets to planning the date activities and
even what to wear. By creating a simple and stress-free dance
experience for high school students, AskManny encourages
participation at school dances, events which provide funds for high
schools, customers for local businesses, and timeless memories for
high school students.
Problem:
High school dance attendance is in decline nationwide. This
is because high school students find dances to be far too difficult to
plan and carry out. The decline of high school dances leads to three
major problems: 1. Schools lose money from ticket sales, 2.
Businesses lose money from high schoolers, and 3. High schoolers
lose the lasting memories that dances allow.
Customer Segments:
AskManny will target schools, businesses, and high school
students located within Utah’s Salt Lake Valley. AskManny plans
to begin in the Jordan School District, supported by the six high
schools within the region, and expand to neighboring schools and
districts. AskManny will target local businesses that would benefit
from an increase in dance attendance. Flower shops, dress and
suit rental locations, and dinner locations will all be contacted
about supporting offers through the AskManny platform. High
school students will be encouraged to use AskManny from both
their school administration and school student government.
Unique Value Proposition:
AskManny fuses all elements involved in the dance-planning process into an
easy-to-use app, creating a stress-free dance planning experience for high school
students.
Channels:
AskManny will be available for high school students to
download through Apple’s app store and the Google Play
store. It will also be accessible via a website. By locating
AskManny in a variety of locations, AskManny will allow as
many high schoolers as possible to use the planning
process.

4. 2
Revenue Streams:
AskManny will gather revenue from two
major sources: schools and businesses. Schools
will sell tickets through the AskManny app, and
AskManny will earn 10% from ticket sales.
Businesses will advertise offers to students
through the AskManny app and website. These
businesses will pay based on a cost-per-
conversion setup.
Cost Structure:
Once the AskManny app and website are developed, AskManny will pay three
major expenses: app maintenance, customer acquisition, and market research costs.
App maintenance will include the cost to develop new features and release updates for
the app. Customer acquisition costs will include the costs of marketing to schools,
businesses, and students. Market research costs include developing and distributing
surveys, conducting focus groups, and analyzing the information obtained.
Detailed Financials:
AskManny’s projected income for its first year in operation, the 2018-2019 school
year, is $88,428. The projection was obtained through conducting interviews and
surveying students throughout Utah. AskManny anticipates a steady growth for its first
years as it will be introduced to an increasing number of schools. Due to the information
obtained from surveys and interviews, AskManny believes that its projected figures are
fairly conservative and will accurately represent the upcoming years.
Key Metrics:
AskManny will measure its success by measuring
student, school, and business satisfaction. Because these
three groups are all essential to AskManny’s success,
AskManny will focus on increasing the satisfaction of each of
these groups.
Competitive Advantage:
AskManny is the only app tailored to creating an
easier high school dance planning experience. As it will be
owned and operated by recently-graduated students from the
Salt Lake area, AskManny can be confident that schools in
the area would support AskManny even if a competing app
was developed.
AskManny is excited to offer students a simple
alternative to the stresses associated with high school dance
planning. By focusing on schools, businesses, and high
school students, AskManny will be able to develop a
company that increases school dance attendance, which will
increase revenue for schools and businesses, and will allow
high school students to make memories that will last.

5. 3
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14. 12
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16. 14
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17. 15
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19. 17
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20. 18
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A.Projectedincomeandexpenses
1.Projectedcashflowbymonthforthefirstyear’soperation

21. 19
AskManny will begin in schools in the Jordan School District throughout its
development, but it hopes to expand to high schools throughout the rest of Utah within
the next three years. By the beginning of the 2018-2019 school year, AskManny plans
to have a solid foundation established in the five high schools in the Jordan School
District. One year later, we hope to have expanded that market to encompass
surrounding school districts. Its goal is to achieve a solid foundation in 15 of the 20 high
schools within 20 miles of Herriman High school. By its third year of operation,
Balance Sheet
FY-2019
Asset Type Year One
Cash 163,544
Fixed Assets 50,000
Current Liabilities 42,360
Long-term Liabilities (Bank Loan) 75,116
Total Assets 238,428
Total Liabilities 117,476
Balance 120,952
2. Projected balance sheet, end of first year
3. Projected three-year plan

22. 20
AskManny hopes to be an integral part of school dances in at least
30 high schools throughout Utah with potential of some high schools
in surrounding states as well.
AskManny intends to release updates periodically as obtained
market research data suggests improvements. These updates will
include additional features and interface improvements; expanded
planning capabilities and increases in ad accessibility. These
features may include options for students to share their asking and
answering ideas, or easy ways for students to join groups of friends.
By releasing updates, AskManny will stay ahead of market trends.
B. Proposed plan to meet capital needs
1. Personal and internal sources
AskManny will fund the business with $20,000, of which
$15,000 will come from internal sources and the owners’
personal savings. The other $5,000 will come from friends and
family of the owners. These friends and family members will be
paid back within two years as the company progresses.
2. External sources
AskManny is seeking a $100,000 loan as a long-term
investment in order to launch the AskManny app successfully
and cover additional start-up expenses. AskManny plans to
repay the loan within five years, including interest.

23. 21
3. Repayment plans
The $100,000 loan will be paid off within five years at an
interest rate of 4.37%. Based on AskManny’s projections for the
upcoming years, it is reasonable to believe that AskManny will be
able to pay off this loan within five years. AskManny is willing to
pay $2,073 monthly until the loan is paid off. After the five year
period, the total amount paid back on the loan will be $124,420.
Therefore, the total interest paid on the loan will equate to $24,420.
X. Key Metrics
AskManny will use a variety of metrics to
determine its market success. The first metric it will
measure is student satisfaction. The main goal in
developing AskManny is to improve student dance
experiences, so AskManny hopes to measure the
effectiveness of the AskManny app by measuring
student experiences. Following dances, AskManny
will invite users to take a short survey to indicate
their satisfaction with the planning process. Survey
results can be immensely valuable to the
understanding AskManny has of where it stands in the eyes of consumers. AskManny
will also conduct focus groups before its official launch and prior to every update
release. Both surveys and focus groups will focus around the ease of using the app and

24. 22
on the quality and variety of featured date ideas. App reviews on app stores will provide
additional insight into AskManny’s significance. In order to improve student satisfaction,
AskManny aims to reduce the stress surrounding dance planning, offer a variety of
money-saving options, and eliminate any bugs and app issues.
The second metric AskManny will
measure is school satisfaction. To gather data
for this metric, AskManny will contact school
administrators directly and interview them
specifically about their experiences supporting
the app. AskManny wants to measure how comfortable administrators are with the
AskManny system, the effect of AskManny on school dance attendance, and the
likelihood of the school’s continued use of AskManny. By
measuring how comfortable school administration is with the
AskManny app, AskManny can determine if its interface is easily
understandable. The school dance attendance aspect of this
metric is connected to the student metric. AskManny hopes to
measure school-by-school success of the app by analyzing trends in dance attendance.
Finally, AskManny will analyze the likelihood of schools
continuing to promote the AskManny app. AskManny hopes to
study trends in dance attendance successes and the
relationship between dance attendance trends and the
continued use of the AskManny app by school administration.

25. 23
The third metric AskManny will measure is business satisfaction. AskManny
hopes to measure business satisfaction by analyzing advertising success. This includes
the reach of offers and the number of students that use those offers. Based on the
success of offers, AskManny will work directly with businesses to improve their
advertisements.
AskManny will increase dance participation by 10%, school fundraising by 10%,
and revenue by 20% to businesses wh advertise thorugh us. By measuring student,
school, and business satisfaction, AskManny will
identify improvements that it can make and will
measure how effectively it increases student dance
participation.
XI. Competitive Advantage
AskManny fuses together two types of
businesses: the crowdsourced-review company such
as Yelp or Foursquare - and the money-saving
business - such as Groupon or RetailMeNot.
Similar to Yelp, a company that uses
crowdsourced reviews to highlight businesses and
activities in an area, AskManny has the ability for
users to submit creative ideas on different aspects of

26. 24
the dance planning process. Yelp also has the
capacity to place reservations for the businesses
that they highlight. This feature will also be
available on AskManny. The different tabs inside
of AskManny advertise for restaurants, activities, clothing places, etc, each tab will allow
the user to make a reservation for dinner, day date activities, or clothing stores.
AskManny’s major competition is other apps and services that focus on offering
coupons and deals. Groupon, RetailMeNot, and other money-saving apps are used
nationwide by students looking to save a little cash as they plan activities. The major
advantage AskManny carries over these
money-saving companies is that AskManny
organizes its offers in the most convenient way
for students, giving it a better form utility than
its competitors. Instead of searching an
unnecessarily large number of times to find
offers to apply to every event throughout the
night, users of AskManny can easily swipe
from one tab to the next in a smoother, faster,
and more convenient process.
A major weakness AskManny will have in relation to larger money-saving apps,
however, is that AskManny will lack the brand-recognition that aforementioned
companies have. Brand recognition is extremely important to advertisers, as advertisers
will most often gravitate to larger companies as their main advertising platform.

27. 25
AskManny hopes to ameliorate this issue as soon
as possible by hiring employees to reach out to local
businesses that would benefit from the advertising
on the AskManny app. In contacting these local
businesses personally, AskManny has the
opportunity to become home to exclusive offers.
A threat AskManny faces is its possibility of being stolen and recreated - which is
very often the worry for emerging businesses. Neither the concept nor the app are
protected by patents, so a larger company could potentially duplicate the idea.
AskManny will address this issue through gaining a cemented position in its starting
location. The Jordan School District and AskManny’s community are both very open to
helping entrepreneurs get their start. If other major companies released products similar
to the AskManny app, AskManny would be confident that Utah’s schools would stick
with the app developed locally.
XII. Conclusion
AskManny is seeking a $100,000 loan with the
market interest rate of roughly 4.37%. This loan would
require monthly payments of $2,073.68 over a five-year
period, including interest. This loan will allow AskManny
to finish developing the AskManny app and will allow
AskManny to begin its first year in numerous high

28. 26
schools in the Jordan School District. Given projected profit margins, $2,073 per month
should be very manageable. High school dance planning is a relatively untapped
market. AskManny will be able to expand to many large high schools quickly because it
benefits students, schools, and businesses. Through surveying students throughout
Utah, AskManny found that 90% would use an app that makes planning high school
dances easier. As only 35% of students currently attend dances regularly, 90% claiming
support of an app is extremely significant. By targeting schools’ student governments
and encouraging them to promote the app to their schools, AskManny can expand to
many students quickly. Because of the innovative method of planning dances that
AskManny allows, it will clearly become a successful business and is one that can be
invested in with confidence.

29. 27
XIII. Bibliography
! “Teens' Ownership of Smartphones
Has Surged.” EMarketer, 5 July
2016,
www.emarketer.com/Article/Teens-
Ownership-of-Smartphones-Has-
Surged/1014161.
! Allen, Scott. “4 Questions Before
You Launch That Start-Up.” The
Balance,
www.thebalance.com/startup-
business-financing-1200987.
! Peavler, Rosemary. “Apply for a Small Business Loan in 6 Steps.” The Balance,
www.thebalance.com/how-to-apply-for-a-small-business-loan-393254.
! Dashevsky, Evan, and Evan DashevskyFeatures EditorEvan Dashevsky is a
features editor with PCMag and host of our live interview series The Convo. He
can usually be found listening to blisteringly loud noises on his headphones while
exploring the nexus between tech, culture, a. “How to Create an App for IOS,
Android, or Windows Phone.” PCMAG,
www.pcmag.com/article2/0,2817,2476480,00.asp.
! Lee Davidson The Salt Lake Tribune · November 13, 2014 8:47 pm. “Utah
Leads Nation in Computer Ownership.” The Salt Lake Tribune,
archive.sltrib.com/article.php?id=1821172&itype=CMSID.

30. 28
! Varshneya, Rahul. “Where to Get the Money to Build Your Mobile
App.” Entrepreneur, 8 Jan. 2014, www.entrepreneur.com/article/230600.
! Foxhall, Emily, and Mihir Zaveri. “Homecoming Dances Fading Away at Some
High Schools.”Houston Chronicle, Houston Chronicle, 2 Oct. 2015,
www.houstonchronicle.com/news/houston-texas/houston/article/Homecoming-
dances-fading-away-at-some-high-schools-6546873.php.
! Pawlowski, A. “Is Social Media Killing the School Dance? Schools Cancel
Dances as Teens Opt Out.” TODAY.com, TODAY, 14 Mar. 2014,
www.today.com/parents/social-media-killing-school-dance-schools-cancel-
dances-teens-opt-2D79369803.
! Moss, Caroline. “My High School No Longer Holds Dances.” CNN, Cable News
Network, 10 Dec. 2014, www.cnn.com/2014/03/17/living/school-dances-
canceled-business-insider/index.html.

31. OPPORTUNITIES
$100,000
AskManny is seeking a
long-term investment
$20,000
From internal
sources.
90% Of Students
Surveyed Would Use
AskManny

32. START-UP
RISKS
App Development
4-6
Months
$15,000

33. BUSINESS OPERATIONS
Administrative
Services
App Maintenance
Market Research
Day-to-Day Operations
Personal Selling

34. FINANCIALS
$85,000
COST
Ad Revenue
$30,000
Store
Commission
$70,000
Ticket Sales
$50,000
PROFIT

35. MARKETING STRATEGIES
Face-to-Face
Business
Development
Digital