Peerless Jewels Unique Handcrafted Jewelry Jasmina Uvalic Grade

Peerless Jewels Unique Handcrafted Jewelry Jasmina Uvalic Grade: 11 th Age: 17

Business Profile My business is called Peerless Jewels and it consists of customized jewelry making which varies by each customers taste and request. Type of Business: Retail Legal Structure: Sole proprietorship I want to be my own boss and manage my business on my own 1

Opportunity Define opportunity There are no jewelry places around community I am making customized jewelry to satisfy each customer individually Qualifications Have taken a Marketing 1 and Entrepreneurship Class Work in retail Have sold jewelry before and was very successful Placed 1 st in the first round of Business Plan competition 2

Consumer Profile By Location Hartford and surrounding towns By Population Females in general, no particular age By Personality Girls and women that like to accessorize. By Behavior People that are continuously trying to keep up with fashion and jewelry trends, in order to improve their look and fashion lifestyle. 3

Competition Competitor Mishy & Davids Price Quality Greatest Strength Greatest Weakness $4. 50 Poor Low costs Factory made Claire's $6. 50 Good Variety of choices Factory made Sify Online Mall $5. 97 Good Decent Pricing Inconvenient if customer wants to return product Competitive Advantage • Affordable high quality products • Unique and customized designs 4

Marketing Mix Price: Place I choose to sell all over Connecticut by using a website Product: My price is very fitting for the quality of my jewelry Handcrafted and customized to your taste Promotion: I will use business cards, websites and brochures to promote my jewelry 5

Marketing Plan Phase Awareness Purchase Retention Method Description Cost Ask small business owners to help me promote my business by telling people about me and giving out my business cards. The cost would be $. 03 per business card. Using logos about the donation that I am making to support the National Foundation for Cancer Research On every plastic bag I will have a ribbon stating that I am helping others with my business. It will cost me. 05 cents to put one label on the ribbon. I will have special discounts for regular customers that recommend people to buy products from me. The people that are willing to give their email so they are informed about special discounts, and new products. The cost varies from discount to discount. Websites, Brochures, Business Cards, and word by mouth. 6

Cost of Materials/Direct Labor Definition of One Unit Bracelet Cost of Sales Per Unit Direct Labor (Labor Cost per Hour) Time (in hours) to make 1 unit $7. 65 5 minutes or. 08 Direct Labor Cost Per Unit $0. 61 Total Direct Labor Per Unit $0. 61 Material Description Cost/Total Quantity Beads $12. 99 / 3000 $. 01 x 12 = $0. 12 Elastic Thread $2. 49 / 197 in $. 01 x 6 in= $0. 06 $5. 00 / 100 units $. 01 x 1 = $0. 01 Pretty bag Ribbon 4 in. = $. 01 Cost Per Unit ($) Total Material Cost Per Unit $0. 20 Variable Costs Per Unit $0. 00 Cost of Sales Per Unit $0. 81 8

Economics of 1 Unit Definition of One Unit Selling Price per Unit Bracelet $ 5. 00 Direct Labor Per Unit $ 0. 61 Materials Per Unit $ 0. 20 Total COGS Per Unit $ 0. 81 Variable Costs $ 0. 00 Total Cost of Sales $ 0. 81 Gross Profit Per Unit $ 4. 19 9

Time Management Plan Business Schedule for a Typical Week Entrepreneurship 33 School Hours 30 Work Hours 0 Sleep 70 Free-Time Hours 35 10

Average Monthly Fixed Costs Type of Fixed Cost Monthly Cost utilities (telephone, internet connection) $ 19. 99 advertising ( flyers, business cards, radio commercials) $ 10. 00 insurance ( 1 million $600/yr= $50/month $ 50. 00 rent (electricity + heat) $ 15. 00 Depreciation (light bulb / yr) Total Monthly Fixed Costs $ $ 7. 00 101. 99 11

Monthly Sales Projections Month Units Sold January 720 February 960 March 720 April 720 May 720 June 840 July 840 August 720 September 720 October 720 November 720 December 1000 Total = 9400 Monthly Break-Even 24 units Units 13

Projected Yearly Income Statement Selling Price Per Unit $ 5. 00 # of Units Sold 9, 400 Total Sales $ 47, 000. 00 Total COGS $ 7, 614. 00 Other Variable Costs $ 0. 00 Total Variable Costs $ 7, 614. 00 Gross Profit USAIIRD Other Costs/Unforeseen $ 39, 386. 00 $ 1, 223. 88 $ 600. 00 Total Fixed Costs $ 1, 823. 88 Profit before Taxes $37, 562. 12 Less Estimated Taxes @25% $ 9, 390. 53 Net Profit $ 28, 171. 59 14

Start Up Investment Entrepreneurial hours needed for start-up Wage I pay myself Total start-up time investment 6 $ 7. 65 Item Where I will buy this? Bag of Beads Joann's $ 12. 99 Elastic Cord Joann’s $ 2. 49 Plastic bags Joann’s $ 10. 99 Ribbon Joann’s $ 9. 99 $ 45. 90 Cost of Item CASH RESERVE covering 3 months of fixed costs $ 305. 97 Estimated TOTAL START-UP INVESTMENT $ 388. 33 15

Return On Investment Return on Investment (ROI) 28, 171. 59/388. 33 x 100 7254% For every $1 dollar invested, my business earned : $72. 54 16

Social Responsibility Plan Peerless Jewels will give 6% of its yearly net profit to the National Foundation for Cancer research every year. I am letting people know that 6% of my profits will go the National Foundation for Cancer Research by including small labels on the bags that I will be selling my products in. 17

Business and Educational Goals o Business - Keystone or better on the jewelry that I sell by the end of my junior year. - Open my own jewelry/accessory retail store after - o Education Get an A in pre calculus by the end of my junior year. - Maintain an A in my college years, and become a successful dentist. 18

When second best isn’t good enough Thank you for your consideration of Peerless Jewels 19