evin robinson inspiring 1 strengthbeautyindependencecourage chief executive officer
TRANSCRIPT
Evin Robinson
InspiRing 1
Strength BeautyIndependence Courage
Chief Executive Officer
Manufacturing retail company
InspiRing 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.
Business Profile2
Courage (White)Strength (Blue)
Independence (Red) Beauty (Pink)
“Yesterday I dared to struggle. Today I dare to win”
“Knowing others is intelligence; knowing yourself is true wisdom.
“Failure is impossible.” “Love is the beauty of the soul”
Strength BeautyIndependence Courage
Qualifications
I have been researching female empowerment since 10th grade
Understanding pressure teens face
Strong leadership skills making me confident and faithful in my product
Empowerment is about inspiring someone
3
Strength BeautyIndependence Courage
Legal Structure
InspiRing 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
4
Strength BeautyIndependence Courage
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 $0.72
Total COGS Per Unit $1.32
Other Variable Costs (Commission)
$0.00
Total Variable Costs $1.32
Gross Profit Per Unit $4.68
5
Strength BeautyIndependence Courage
Cost of Materials/Direct Labor Definition of One Unit:Direct labor (wage per hour)
Time (in hours) to make one unit
Direct labor cost per unit ($)
$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 $1.32
6
Strength BeautyIndependence Courage
Competition
Competitive AdvantageOur 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.
CompetitorPric
eQualit
yCompared 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
7
Strength BeautyIndependence Courage
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
8
Strength BeautyIndependence Courage
Marketing Mix & Plan Price: $6.00
Place: NYC
Product: InspiRing
Promotion: Email, business cards and word of mouth
Method Description Target Consumer( age, gender, location)
Cost
Business Cards Our business cards consist of our logo, name and slogan and a description of each ring and the meaning behind it
10-25 years of ageFemalesSchool, S.E.O, Events
free
Email / Internet Send emails out to friends/family around certain holidays Also create an internet website to market product
10-25 years of age Females
free
Word of Mouth Speaking of our business in every opportunity
10-25 years of age Females
free
9
Strength BeautyIndependence Courage
Philanthropy Plan
InspiRing 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 8th-12th grade. This event is held annually and focuses on female empowerment as well.
10
Strength BeautyIndependence Courage
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
11
Strength BeautyIndependence Courage
Monthly Sales Projections Month Units
SoldJanuary 10
February 30
March 20
April 20
May 24
June 25
July 20
August 26
September
20
October 15
November 20
December 40
0
5
10
15
20
25
30
35
40
45
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Units sold
12
Strength BeautyIndependence Courage
Projected Yearly Income Statement
13
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 BeautyIndependence Courage
Financing Strategy for Total Start-up
InvestmentSource Amount
Personal Savings $50
Relatives/Friends $60
Investor $0
Grant $51.50
Total: $161.50
14
Strength BeautyIndependence Courage
Return On Sales
Return on Sales (ROS) $876.42/ 1,620 x 100
54.1%
For every $1 dollar of sales, my business earned :
$.54
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
ROS
$1 of sales
Amount of $ gained/lossedby sales
15
Strength BeautyIndependence Courage
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
$ 8.76
Estimated TOTAL START-UP INVESTMENT $ 52.76
16
Strength BeautyIndependence Courage
Financial Ratio Analysis
Monthly Break-Even Units (2.92/4.68)
1 unit
Start Up Investment Doubling
Years for my start-up investment to double in value$ 52.76/ $87.42 x 2
.12
17
Strength BeautyIndependence Courage
Return On Investment Return on Investment (ROI)(87.42/52.76 x 100)
1061.1%
For every $1 dollar invested, my business earned :
$16.61
18
$0.00
$5.00
$10.00
$15.00
$20.00
ROI
Original $1 invested inbusiness
Amount of $ gained/lossed byoriginal dollar invested
Strength BeautyIndependence Courage
Business & Educational GoalsBusinessUse crystal beads and betterquality wire to make our rings.
Eventually, we would like toexpand our business and beganto make items for males.
Teach classes for young teensshowing them how to make ourrings and talking to them aboutactually creating their own business
EducationalTake jewelry classes to learn how to make different designs.
In college, attendentrepreneurship, marketing,and/or psychology classes that willhelp us expand our business.
19
Strength BeautyIndependence Courage
Time Management Plan
Business schedule for a typical week
Entrepreneurship Hours: 18 hrsSchool Hours: 40 hrsWork Hours: 40 hrsFree-Time Hours: 22 hrs
20
Strength BeautyIndependence Courage
Empower yourself by InspiRing
others.
21
Thank you for your consideration of
InspiRing
Strength BeautyIndependence Courage
InspiRing