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Polyglot Presentation 4-2-15
This document summarizes a business plan presentation for a translation services company called Polyglot. Some key points: - Polyglot was established in 2014 and provides translation services for virtual enterprise firms seeking to expand internationally. - It has 21 diverse employees who speak 8 languages and provides accurate translations of various documents at affordable prices. - Financial projections show the company is exceeding its revenue, profit, and sales goals for the year and has enough liquidity to cover expenses. - The management team is well trained and uses strategic planning, controls, and an organizational chart to direct the company's operations.
Polyglot Presentation 4-2-15
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- 2. COMPANY DESCRIPTION • Openedon October 5, 2014 • Located at 465 New Dorp Lane, Staten Island, NY • C-Corporation in NYS • Provide translation services to all VE firms that intend to sell their services internationally
- 3. COMPANY DESCRIPTION • 21Diverse Employees • Speak 8 different languages Urdu Japanese Chinese Arabic Spanish Russian English Albanian
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- 5. SUMMARY/PURPOSE • Focus • Direction •Future of the firm regarding: -Financial / Managerial / Marketing Standpoints
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- 7. PRODUCT • Translation servicethat produces documents in foreign languages • We translate: Brochures Flyers WebsitesCatalogs
- 8. Global Package (Includesthe following) $1000 / package Contracts $150 / page Official Documents/Exams $150 / page Newsletters (two pages) $350 / unit Brochures (one page, double sided) $250 / unit Catalogue $30 / page Flyers $100 / unit Business Cards $30 / unit Pricing Pricing Strategy = Penetration Pricing
- 9. PLACEMENT Forms of Placement •Trade fairs sales • E-commerce sales • Non-VE sales
- 10. POSITION • A partnerto all VE firms that wish to expand their market internationally
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- 12. BREAK-EVEN ANALYSIS • Break-evenpoint is $493,231.54 and 1419 sales • Average selling price to be $347.78 • Average cost of goods sold at $13.47 • Fixed expenses totaling $474,128
- 13. CASH BUDGET ANALYSIS ACTUALVS PROJECTED Actual As of 2/28/15 Projected As of 4/30/15 Starting Balance 10/1/14 $0.00 $0.00 Cash Inflows $841,087.73 $1,061,330.70 Cash Outflows ($431,652.69) ($659,017.31) Ending Cash Balance $409,435.04 $402,313.39 • We already reached 79% of our projected inflows
- 14. INCOME STATEMENT ANALYSIS ACTUALVS PROJECTED Actual As of 2/28/15 Projected As of 4/30/15 Gross Revenue $541,747.51 $761,760.00 Cost of Goods Sold $0.00 $37,359.84 Gross Profit $541,747.51 $726,920.16 Expenses ($391,605.40) ($480,813.92) Net Income - Before Taxes $150,142.11 $246,106.24 • We already earned 71% of our projected revenue
- 15. Balance Sheet Analysis Actual 2/28/15 Projected 4/30/15 % Current Assets $423,728.24$454,725.08 93% Total Assets $468,186.81 $508,211.65 92% Total Liabilities $18,044.70 $41,336.84 43% Total Owner’s Equity $450,142.11 $466,874.81 96% Total Current Assets $423,728.24 $454,725.08 Total Assets $468,186.81 $508,211.65 Total Liabilities $18,044.70 $41,336.84 Total Owner’s Equity $450,142.11 $466,874.81
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- 17. ORGANIZATION CHART Jodi Goertz Directorof Operations Jordan Leung Chief Executive Officer Kristen Weidlein Assistant Manager Johnny Lopez Corporate Fundraising Janay Peterkin Assistant Manager Nada Eladma Associate Winson Tong Accounting Manager Carmelo Peluso Associate Lin Lin Assistant Manager Joseph Furer Sales Manager Sara Husein Marketing Manager Sejda Cenaj Human Resources Manager Ronald Briggs Auditing Manager Andrew Purcell Assistant Manager Justen McDonald Associate Angel Sanchez Associate Luis Gomez Associate Robert Gough Associate Sofia Colacurto Assistant Manager Dana Keddy Associate Bazil Nadeem Associate 2015
- 18. ORGANIZATION • Manager +Assistant Manager • Daily meetings keep on the same page + avoid duplication/confusion
- 19. DIRECTING Manager: • 2-Way communication •6 month leadership training program • Motivate employees Bonus points Bonus pointsPublic recognition
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- 21. PRELIMINARY CONTROLS • HRscreens prospective employees prior to interviews • Educate prospective employees on company’s manual
- 22. CONCURRENT CONTROLS • Dailystaff meetings • Auditors report to Senior Management
- 23. FEEDBACK CONTROLS • Performanceevaluations • Customer satisfaction surveys
- 24. PLANNING • Generate $300,000in non-VE sales in the Fall of 2014 • Earn minimum $200,000 in Trade Fairs • Reach Break-even point by January 2015 • Reduce Paper usage • Purchase high-quality equipment • Earn 100% satisfaction
- 25. CURRENT ECONOMIC CONDITIONS • U.S.$ = at greatest in 11 years • Unemployment rate to 5.5% / lowest since July 2008 • Oil approx. $50 / barrel & lowest value in 5 years. • DOW = 17000+ • Interest rates = .25% from FED • Prime Rate = 3.25% • Wage growth = 2% • Overall 2014 GDP = +2.4%
- 26. TARGET MARKET • VEfirms worldwide that wish to increase international business • Over 5,000 potential clients worldwide • We focus on firms that attend international trade shows
- 27. MARKET SEGMENTATION Demographics - VEfirms with VE employees aged 17 - 20 - High School administrators Psychographic - VE employees seeking to communicate effectively in foreign languages - Businesses looking to present a more professional image Behavioral - Those attending trade fairs - Impulsive buyers that wait for a bargain Geographic - VE firms & employees from: - New York - Continental U.S. - Europe
- 28. REAL INDUSTRY ANALYSIS •Predicted growth of 42% from 2010-2020 • $39B in revenue annually • 3,000 translation companies in the US • 7,000 new translation jobs • 22,000 translation jobs in the US • Translation services among INC’s 2014 “Best Industries”
- 29. VIRTUAL INDUSTRY ANALYSIS •Only 1 other translation company in the VE network worldwide • 20 countries participated in the Germany Trade Fair this year • 150 firms from over 15 countries participating in the 2015 NYC Trade Fair Great opportunity for Polyglot to increase its revenue
- 30. COMPETITIVE ANALYSIS Direct Competition= WordWise from Belgium BUT They did not attend European Trade Fair
- 31. S.W.O.T. ANALYSIS • Weneed to establish a reputation quickly • Limited work hours hinder revenue production Internal Weaknesses External Threats • Firms provide their own translation services • New/existing translation firm External Opportunities • Participating in three trade fairs • Alliances with firms nationally and internationally Internal Strengths • A diverse staff • Debt-free • Premium translation software program
- 32. BUSINESS RISKS • Notreaching the Break-even point: -turning into a potential loss for the firm To mitigate: Participate in local & international Trade Fairs to guarantee increased revenue
- 33. BUSINESS RISKS • Inabilityto translate many languages in the future due to a reduction in multilingual staffing To mitigate: Pursue an extensive hiring process that will employ multilingual employees
- 34. IN SUMMATION • Debtto Equity ratio of 1 : 25 • Enough liquidity to cover expenses • A diverse staff w/ 8 languages • Well trained management team • An audit team to eliminate errors • An aggressive sales and marketing approach exceeded all expectations