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The Millennial Miracle “Millennial Miracle Makes Your Future Bright” Damian Smith-15 Princess Brown-15 Asia Aaron-15 Tammy Padilla-15 Discovery High School 1 st period 2017
Mission Statement. To teach millennials the skills necessary for obtaining and keeping a job/career. ● Opportunity. Kids have an opportunity to have there improve their skills and get a head start in the “job race” ●
Market Analysis Industry Name Technology and Engineering Industry Size $30 Billion in sales (U. S. Market) Total Population In America, there are currently 92 million millennials and is at a continuously growing rate. Total Population 92 million Target Market Residents who are between the ages of 12 -30 with an average household income of $ 5, 000. 12 -30 Potential Market 75% Potential Market Based on survey, 75% of millennial residents would buy a robot at least once a year.
Business Profile ● Type of Business � � Millennial Miracle is a technology business selling a product to skills that will help them in the future. Legal Structure � We are a technology and engineering Liability Limited partnership. We are making this model by hand, and to make this robot, it will cause for technical skills and abilities.
Qualifications ❶ Everyone on our team are millennials, so we have the ability to create a product that is appealing to our target market. ❷ Our team has first hand experience with various items of technology, including some of our competitors. ❸ The Strickland Entrepreneurship Center trains us to create a business and build it to its full potential. We’ve learned. how to develop and grow a business through this program
Target Market Segment Demographics • This product is targeted towards millennials of both genders Psychographics • Anyone involved and interested with technology • Anyone who wants to be prepared for their future. Geographics • Georgia Buying Patterns • The product would be bought yearly • Accessories would be monthly
Competitive Advantage Factors Sphero Ez Robots Price $150. 00 $430. 00 $135. 00 Quality of Product/Service High Medium High Location of Availability Online Reputation/Bran ds Remote Control Robot Teaches you activities Movie skin designs Teaches you activities Unique Factors/ Knowledge Online Thump Online. Teaches you skills Get’s you active
Marketing Mix Georgia Later on: California New York Florida Millennials People Product A robot that you have the ability to personalize yourself Place Advertising: Social Media Price $135. 00 Promotion
Promotional Mix Promotional Expense Advertising Publicity Personal Selling Monthly Amount You. Tube $600 (0. 30 per view) Websites $4, 000 ($2 per view) Coupons Sales Promotion Trade Shows Other Cleaning Products (for the robot) Total Monthly Promotional Expense $100 $ 1 5$4, 930 0
Cost of Materials/Labor Materials Material Description Cost/Total Quantity Cost per Unit Transmitters 1 $7. 00 Engine 1 $6. 00 Circuit Board 1 $75. 00 Battery 1 $3. 00 Conveyor Belt 1 $4. 00 Wires 1 $3. 00 Silicone Walls 1 $4. 00 Prongs 1 $3. 00 $105. 00 Total Material Cost per Unit Labor Cost per Hour Time (in Hours) to Make One Unit $7. 00 30 min Total Labor Cost per Unit COGS (per Unit) $108. 50 Labor Cost per Unit $3. 50
Economics of One Unit Description of One Unit of Sale: $130 Selling Price (per Unit) $130. 00 COGS (per Unit) $33. 50 Other Variable Expenses (per Unit) $5. 00 Total Variable Expenses (per Unit) $5. 00 Contribution Margin (Gross Profit per Unit) $31. 50
Average Monthly Fixed Expenses Fixed Expense Average Monthly Expense* Insurance $1, 200 Salaries of Employees $2, 500 Advertising $1, 000 Interest Depreciation $200 Utilities (Gas, Electric, Telephone) $800 Rent $ 2, 000 Other Fixed Expenses ______ Total Average Monthly Fixed Expenses $7, 750 * Numbers are rounded to the nearest dollar throughout.
Time-Management Plan Schedule for a Typical Week Total Hours in a Week = 168 Hours Per Week 70 60 50 40 30 20 10 0 Homework Family Time Church School Hours Per Week Free Time Work Sleep
Monthly Break-Even Units In an average month, the company will begin to make a profit after selling 2500 units, which will take 26 years if we do it at a rate of 100 units per year.
Monthly Sales Projections First Year MONTHLY SALES 12 10 8 6 4 2 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Projected Yearly Income Statement First Year Selling Price per Unit $130. 00 Number of Units Sold 100 $13, 000 Total Sales Variable Expenses $500. 00 Contribution Margin Fixed Operating Expenses $105. 00 $12, 395 Pre-Tax Profit Taxes @ 15% Net Profit $1, 859. 25 $10, 535. 75
Start-Up Investment Start-Up Expenditures Item Where Will I Buy This? Cost Rent Online Store Buy Store $327, 00 Personally $105. 00 Initial Inventory $8/moa year ($96) Total Start-Up Expenditures $327, 113 Cash Reserves Emergency Fund $1, 000. 00 Reserve for Fixed Expenses $2, 000 Total Start-Up Investment $330, 113
ROS & ROI ROS: Return on Sales For My Business: $13, 000 95 X 100 = ROS Dollar Equivalent = $13, 684 Dollar Equivalent = $347, 487 ROI: Return on Investment For My Business: $95. 00 X 100 =% ROI $330, 113
Financing Strategy $15, 000 Total Start-Up Investment Source Amount Debt Equity Gift Personal Savings $_______ Relatives/Friends $_______ Investor $______ Partner(s) $______ Totals $______
Business Responsibility & Philanthropy ● Business Responsibility � Use local products whenever possible. � Collect data by surveying different people. ● Philanthropy � Contribute ________________ and to support ______________ � 1% of yearly net profit (after 3 years of business) to _______________________
Business & Personal Goals Business To attend trade shows every year ● We want to eventually have more people working for us, including engineers, designers, etc. ● We want to gain popularity on social media including Instagram, Twitter, etc. ● To advertise the business all over social media and other websites such as banners on other sites ● To have a business building where we can sell our products ● To host fundraisers every year. ● By the fifth year, we hope to spread our business around the country. ● We will donate money to a variety of charities such as Red Cross Short-Term ● Long-Term Personal
“A Road That You Must Take” Damian Smith, Asia Aaron, Princess Brown, Tammy Padilla Thank you for your time