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video: http://www.youtube.com/watch?v=kGmygodFe2k. Description of UKick and why it is unique compared to competitors. Originate in China. Also called Jianzi , Da cao and featherball. International competition. First to introduce it to the UK. 3 times less expensive . - PowerPoint PPT PresentationTRANSCRIPT
Description of UKick and why it is unique compared to competitors.
Also called Jianzi, Da cao and featherball
Originate in China
International competition
3 times less expensive
First to introduce it to the UK
Describe your customer segment and how you researched their needs.
What was your value proposition to them?
Target group : Students, schools
Test market: trade fair, potential investors, friends
What were your Key activities? Key partners? Key resources?
- China- Packaging- Instruction- Logo- Freight
- Investment- Knowledge- Connections- Bulk sales- Distribution channel
Supplier Investors
branding strategy and marketing channels. Evaluate the strengths and weaknesses of what you did.
Product designLogo
Make the “UK” obviousSlanted as being kicked
Bright colour - customisable
Packaging
Cylinder shape, see through
Fit into vending machines
UKick logoI and instructions
Marketing channels : B2B
Firebox.co.uk
Internet Vending machines
Rapport group
What were your company policies, IP and other legal considerations?
Safety first
Trademark
Return policyNo return policy at trade fairrefund or exchange within 30days of purchase
Profit/loss
Revenue 72 COGS 40 Gross profit 32
Expenses colour spray 17.5 Other expenses for trade fair 11.2 registration for YE 100Total expense 128.7
profit/loss (96.7)
40 units purchased
Cost(p&p included) 1sales price 2*discounts were given if the customer purchased more than 1unit
What were the key challenges that you faced and how did you overcome them? What would you have done differently?
Low cash flow from B2C Focus on B2B
Long lead time Better time management
Raising fund Approach investors
Small team Split the task meet more often
More people on the team
Go directly for B2B
• Experience on starting up business• The importance of connection and networking• Practice pitching skills• Gain confidence and develop attitude• First step to actual business in the future
What was the most successful part of your business? How did it prepare for future entrepreneurship?
