1 Inspi. Ring Evin Robinson Chief Executive Officer Strength Independence Beauty Courage
2 Business Profile Manufacturing retail company Inspi. Ring is all about boosting young women’s confidence and awareness of female empowerment through the symbolic messages associated with our rings The color of our stones along with an associated inspirational quote represents the symbolic messages. Strength (Blue) Courage (White) “Knowing others is intelligence; knowing yourself is true wisdom. Independence (Red) “Failure is impossible. ” Strength Independence “Yesterday I dared to struggle. Today I dare to win” Beauty (Pink) “Love is the beauty of the soul” Beauty Courage
3 Qualifications I have been researching female empowerment since 10 th grade Understanding pressure teens face Strong leadership skills making me confident and faithful in my product Empowerment is about inspiring someone Strength Independence Beauty Courage
4 Legal Structure Inspi. Ring is a Sole proprietorship business. I have chosen this legal structure because it allows me to have complete control over the future direction of the business Strength Independence Beauty Courage
5 Economics of One Unit Definition of One Unit One ring including a gift box and a polishing cloth. Selling Price per Unit $6. OO Direct Labor per Unit $0. 60 Materials per Unit Total COGS Per Unit $0. 72 $1. 32 Other Variable Costs $0. 00 Total Variable Costs $1. 32 Gross Profit Per Unit $4. 68 (Commission) Strength Independence Beauty Courage
6 Cost of Materials/Direct Labor Definition of One Unit: Direct labor (wage per hour) Time (in hours) to make one unit Direct labor cost per unit ($) $5. 00 7 min=. 12 hr $. 60 TOTAL $. 60 Material Description Cost /Quantity Cost per Unit ($) Gold Wire $2. 50/ 200 $. 01 Gift boxes $. 55/ 1 box $. 55 Polishing Cloth $3. 00/ 20 $. 15 Beads $4. 00/ 750 $. 01 TOTAL $. 72 TOTAL MATERIALS/DIRECT LABOR Strength Independence Beauty $1. 32 Courage
7 Competition Competitor Price Quality Compared to my business (better, worse) why? Street Vendors $5. 00 Poor Quality over quantity H&M $8. 50 Good Greater selection Internet $4. 00 Good No sentimental value Competitive Advantage Our rings are unique and hand crafted Our product sends a positive message to young women and teenage girls which provides our product with a sentimental value. Strength Independence Beauty Courage
8 Consumer & Market Analysis Consumer Analysis: Market Segment: Young women and teenage females. Target Customer: Empowered females throughout New York City Market Analysis: Location: Events such as Avon Breast Cancer Walk Population: 10, 000 per event Income: Wide Range Behavior: Already supporting female empowerment Strength Independence Beauty Courage
Marketing Mix & Plan 9 Price: $6. 00 Place: NYC Product: Inspi. Ring Promotion: Email, business cards and word of mouth Method Description Target Consumer Cost ( age, gender, location) Business Cards Our business cards consist of 10 -25 years of age our logo, name and slogan and Females a description of each ring and School, S. E. O, Events the meaning behind it free Email / Internet Send emails out to 10 -25 years of age friends/family around certain Females holidays Also create an internet website to market product free Word of Mouth Speaking of our business in every opportunity free Strength Independence 10 -25 years of age Females Beauty Courage
10 Philanthropy Plan Inspi. Ring would like to give 10% of its profit to Girls Inc, a national nonprofit organization dedicated to inspiring all young girls to be strong, smart, and bold Volunteer my time to help SEO organize an annual all day conference (The Emerging Leaders Conference) for females from the 8 th-12 th grade. This event is held annually and focuses on female empowerment as well. Strength Independence Beauty Courage
11 Average Monthly Fixed Costs Type of Fixed Cost Monthly Cost Entrepreneurial Stipend [hours x (minimum wage + $1] $ N/A Pliers (Depreciation) $. 42 Ring mandrel (Depreciation) $2. 50 Business Cards (free) TOTAL Fixed Costs $2. 92 Strength Independence Beauty Courage
Monthly Sales Projections Month Units Sold January 10 February 30 March 20 April 20 May 24 June 25 July 20 August 26 September 20 October 15 November 20 December 40 Strength Independence Beauty Courage 12
13 Projected Yearly Income Statement Selling Price Per Unit $6. 00 # of Units Sold 270 Total Sales $1, 620 Less Variable Costs Total COGS $356. 40 Other Variable Costs $0 Total Variable Costs $356. 40 Gross Profit $1, 263. 60 Less Fixed Costs USAIIRD $35. 04 Other Costs/Unforeseen $60. 00 Total Fixed Costs $95. 04 Profit before Taxes $1, 168. 56 Less Estimated Taxes @25% $292. 14 Net Profit $ 876. 42 Strength Independence Beauty Courage
Financing Strategy for Total Start-up Investment Source 14 Amount Personal Savings $50 Relatives/Friends $60 Investor $0 Grant $51. 50 Total: Strength Independence Beauty $161. 50 Courage
15 Return On Sales Return on Sales (ROS) 54. 1% $876. 42/ 1, 620 x 100 For every $1 dollar of sales, my business earned : Strength Independence $. 54 Beauty Courage
16 Start-up Investment Entrepreneurial hours needed for start-up Wage I pay myself Total start-up time investment 6 hrs $ 4 per hour $ 24 Item Where I will buy this? Cost of Item Ring Mandrel Jewelry store $ 15 Pliers Hardware store $5 CASH RESERVE covering 3 months of fixed costs Estimated TOTAL START-UP INVESTMENT Strength Independence Beauty $ 8. 76 $ 52. 76 Courage
17 Financial Ratio Analysis Monthly Break-Even Units 1 unit (2. 92/4. 68) Start Up Investment Doubling Years for my start-up investment to double in value $ 52. 76/ $87. 42 x 2 Strength Independence Beauty . 12 Courage
18 Return On Investment Return on Investment (ROI) (87. 42/52. 76 x 100) For every $1 dollar invested, my business earned : Strength Independence Beauty 1061. 1% $16. 61 Courage
19 Business & Educational Goals Business Use crystal beads and better quality wire to make our rings. Eventually, we would like to expand our business and began to make items for males. Educational Take jewelry classes to learn how to make different designs. In college, attend entrepreneurship, marketing, and/or psychology classes that will help us expand our business. Teach classes for young teens showing them how to make our rings and talking to them about actually creating their own business Strength Independence Beauty Courage
20 Time Management Plan Business schedule for a typical week Entrepreneurship Hours: School Hours: Work Hours: Free-Time Hours: Strength Independence 18 hrs 40 hrs 22 hrs Beauty Courage
21 Inspi. Ring Empower yourself by Inspi. Ring others. Thank you for your consideration of Inspi. Ring Strength Independence Beauty Courage
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