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TJ’s Way: The Basics of Money Management
Problem Kids my age don’t know much about banking and money management. Hard economic times I want to give them the chance to learn in a simple and fun way how to manage their money now and in the future.
Solution How do I plan to solve the problem? Book and an after school program What’s in the book? What am I going to teach? Why save money? Why start early? How to save? Why Budget? How to budget? How to write checks? How to cash checks? How to use debit cards?
Legal Structure TJ's way is a sole proprietorship Since I will be going to the school to teach the class on my own I choose this legal structure to run the business
Target Market High School Freshmen Start working at this age At 16 students can drop out without parental permission
Opportunity More and more schools are starting to realize the importance of an early financial education.
Differentiator My background Will present information in easy, simple and fun way Not a computer program
How do I make money? Start small, think big Monthly trial programs Eventually start charging for after school program/books
Start-up Investment Item Book Salary for Marketing Advisor Where will I buy this? Cost of Item Materials will be bought at a low cost from Instant $2. 75 per book publisher. com Paid on commission: 2% of sales
Average Monthly Cost Fixed Costs Book Purchase 137. 50 Monthly Salary 200. 00 Variable Costs Gas 2. 00 Total Cost 339. 50
Economics of One Unit Definition of one Unit Selling price per Unit 1 book plus one student $6 Books Gross profit Per unit $2. 75 $3. 25
Financing Strategy Source Personal savings Amount $150 Family and friends $100 Total $250
Balance Sheet Assets Books $137. 50 Cash 102. 50 Supplies $10 Total Assets $250 Liabilities and Owner Equity Liabilities $0 Equity $250 Total Liabilities and Equity $250
Goals Business Education Establish the product in Clay High school successfully Branch out to other schools and world wide after that
Intellectual Property Copyright Logo Trademark
Philanthropy Plan Once a month I will give away some free books and hold a free session teaching teens about banking and money management. For future establish a fund to provide a scholarship for an outstanding student that is interested in finance.
Human Resources Marketing Advisor: provides assistance in expanding product reach around the area Create a recognizable brand
Operating Plan Checking account Plan to open a business account
Monthly Sales Projection Month Units Sold September 50 October 50 November 0 December 0 January 50 February 25 March 20 April 30 May 20 June 0 July 0 August 0 Total= 295
Yearly sales projection • • In a years time the net profit would be $2065 which is calculated by taking the projected sales cost per unit and multiplying it by the cost per unit then adding the number of students
Thank You For Your Consideration When I thought Of TJ’s Way I didn’t think of a way to make money I thought of the future of the economy. For a future with more financially literate people.