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Enactus Annual Report 2015 Final
- 1. CLEAN Campaign Carpool Initiative Coinsfor Change bridging the gap to prosperity Strategic Consulting Startup Incubator ANNUAL REPORT Furthering progress and positively impacting the greatest number of people to the greatest extent possible...
- 2. Need Businesses strive everydayto meet financial needs and build successful business models. However; they often need help and cannot always focus on every aspect of the business. As many students struggle with internship experience and only 10% of startups succeeding. Enactus decided to put the two together to create opportunity. By doing this we are giving students opportunity and providing resources for businesses. Enactus consulting group was able to receive a $20,000 grant from Syracuse University Startup. Next, we reached out to 50 local tech startup companies in Broome county and after discussing needs and interests. After settling with 20 companies we then created a job position, description and hiring process at our university detailing all aspects of the job. We then reviewed and interviewed potential candidates and built a model for hiring. We hired thirteen students for our program. We have now set up teams with diverse students who are currently consulting the businesses. • All together we were able to directly and indirectly impact 10,309 total people in Broome County. • With our 60 hours of executive search we were able to provide $1,500 worth of work. • Received a $20,000 grant to sustain our project with hiring, logo and website creation. • Being able to hire 14 students at $10.00 we were able to directly deliver $98,000 worth of consultancy services. • A survey by the Huffington Post states that students who have internships are 10% more likely to have full-time jobs, with this in mind our group was able to directly impact the students and local businesses. Action Impact Need In response to students mounting frustration from residential students we took on this issue of parking. As Binghamton University has increased its student and faculty population in the past five years infrastructure constraints have started to arise. An increase of 2,000 students and construction of brand new Residential Halls has resulted in a loss of logistical parking spaces. This coupled with an increase of 900 new beds in privatized off-campus housing facilities has created a higher demand on transportation. Our main goal was to find a sustainable and cost efficient solution to this mounting transportation issue. This spring we established the Carpooling Initiative in conjunction with the University’s Parking Services Department. Our system focused on reducing commuter traffic and increasing the utilization of a toll parking lot that sits in the center of our campus. Allowing carpoolers to use this lot would provide closer parking than was otherwise available. We registered a small group of off-campus students to test our new program. This was done through various marketing strategies including coffee sleeves advertisements at our on campus coffee shop and tabling/quarter sheets in off campus student apartment complexes. • With only 50 spots allocated in a 4 week trial period we have had 18 distinct users. • Out of 18 people that used the lot, we have seen 50% use it 3 or more times and 16.66% have used it 4 or more times. • One carpool trip to and from campus saves at least 10 miles of driving and a third of a gallon of gas if an average commute from off-campus housing to campus and back is 5 miles. • We have saved 94 cars from coming to campus. • The lot has been used 42 times leading to a saving of about 31 gallons. • The cost of maintaining spots on campus is around $550 per spot. With an average of 23.5 less people driving to campus the Parking Service saves $430.83 a week. • Projecting an increase to 25% usage of our trial lot by the end of the semester we see an increase saving of $1,833.33 weekly. Potentially $55,000 in annual savings. • 41.25 gal. were saved in a week to a total projected savings of 1,237.62 gal. per year • $103.13 were saved on gasoline for a week. Projected $3,094.05 per year on a $2.50 ppg Action Impact
- 3. Need The Maasai tribevillages struggle with continuous drought. They have no dependable means of income for basic necessities including shelter, food, and education. Furthermore, the Maasai tribe women must be able to effectively sell the jewelry they produce in order to significantly improve their ability become self-sustained. Our team fundraised to provide goats to the tribe, which can provide a reliable source of sustenance and income.Capable of surviving the harsh climate of East Africa, goats are capable of providing upwards of a liter of milk per day. The goats’ milk and offspring can be sold to supplement a family’s income. To aid the Maasai tribe women, we utilized an e-commerce platform to allow them to reach customers outside of their local area. • Raised $790 to purchase 15 goats and construct one boma for the Maasai Tribe. • With an average family size of 12, 15 goats directly impact 180 Maasai Tribe members. • In five years, these 15 goats and our 80 previously purchased goats, the Maasai tribe is projected to create $36,000 in additional revenues. • With $36,000, they can send 80 Maasai Tribe children to school. Action Impact Need Small business owners in the city of Binghamton often lack formal business knowledge and expertise. They have no exposure to new operational, marketing, and financial initiatives. This disadvantage, along with their shortage of resources, has made maintaining a business in this area extremely difficult. Strategic Consulting worked with the Food Co-Op, an on campus eatery, in order to cut costs, reach new markets, and facilitate growth. Together we designed a new logo, reduced inventory costs, increased sales, and created new markets. Secondly, we worked with Xtreme Straps, an e-commerce businesses. Our main focus for this project was creating a new website, increasing social media presence and advertising on and off campus. Finally our group worked with an on campus Chipotle delivery service, helping them create a business plan and increase sales through marketing. • Increased Sales by $2,000 and reached 962 people indirectly and 15 people directly with Xtreme Straps • Created a logo, Re-named the company, branded inventory control and worked to increase search engine optimization for Xtreme Straps • Before our consultancy at the Co-op they were losing $769 per week and after our consulting they were averaging $176 per week • We were able to project a 6 month break-even point, create a logo and rename the business and create a survey with over 150 respondents • We were able to partner with 4 new businesses and increase profits throughout the business Action Impact
- 4. Need From a surveyof 140 Binghamton University students, we discovered that the greatest hindrance of the Binghamton area was the general appearance of its streets. Our main goal is to bridge the gap between students and the city by helping local businesses in the downtown area generate more student revenue through addressing the issue. In response to our survey, we created the Clean Campaign and have recently revamped to partner with local businesses in the area offering them free advertising in return for them helping to keep our community clean. We advertise for our businesses through social media pages aimed towards university students and will be releasing coupon books to students on campus at the start of the Fall 2015 semester. In return, we ask business owners to attend a downtown spring cleanup that we will be hosting as well as a workshop on environmentally friendly business practices. • We hope that through our efforts local businesses will begin to see an increase in store traffic from university students. • We hope that students will begin to utilize the businesses and resources available in our community. • We hope to raise environmental awareness in Downtown Binghamton and teach business owners the importance of keeping our community clean. • We will hold a Downtown Binghamton spring cleanup with students and business owners. • We will hold a workshop for business owner on environmentally friendly business practices. Action Impact HIGHLIGHTS PROJECT SUMMARY Projects Sustained For (Years) Members Volunteer Hours Direct Impact Indirect Impact Strategic Consulting 4 7 375 521 1,525.00 Coins for Change 4 3 54 240 65,000.00 CLEAN Campaign 9 3 50 7 1,900.00 Entrepreneurship New Project 7 60 133 10,176.00 Carpooling Intiative New Project 9 73 57 20,000.00 Revenues Student Association Budget $2,000.00 Rollover $1,763.85 Fundraised Income $810.00 Fundraising for Nationals $3,000.00 Grant with Entrepreneurship Department $20,000.00 Total Revenue $27,573.85 Expenses Marketing Epenses $24.96 Nationals Costs $5,050.00 Project Expenses Carpool Initiative $20.00 CLEAN $101.00 Coins for Change $216.00 Entrepreneurship - Strategic Consulting - Total Expenses $5,411.96 Net Income 22,161.89$ FACULTY ADVISORS TONY FRONTERA & ANGELO MASTRANGELO TEAM PRESIDENT SEAN RYAN FINANCIALSTATEMENT 2014-2015 • AMA • Atomic Tom's • Binghamton University Entrepreneurship Startup Suite • Binghamton Neighborhood Project • Burritos to Bartle • ClickCare • Coins For Change • Chroma • Imagicka • Innovation Pharmacy Intelligence • Orion Beauty and Balance, Inc • Maryams Mart • Portfolios Cafe • Roots Cafe • Sal Sterns • Sonostics • Sonic Blocks • Taj Tandoor • Xtreme Straps OUR SPONSORS