minimum investment. maximum return.

Team #1

Jason AmidonMichele Crispin

Marian FeanTatyana Kriushina

Joe Marsella

Presentation Outline-Entrepreneurship

-Boomerang- Introduction

-Interviews

-Financial Analysis

-Problems-Recommendations

Definition of Entrepreneurship

The most simple definition of entrepreneurship is an individual that

organizes, operates, and takes on the risks of a business.

Entrepreneurship Vital to the U.S. Economy

Ensures job creation and economic growth

What does it take to be a successful entrepreneur?VisionPassionRisk taker

Subject Choice

Seth DeForest, 28, of Haddonfield, New

Jersey is the winner of the Young Entrepreneur of

Southern New Jersey Award 2005. DeForest is the

CEO & owner of Boomerang, which offers high-end

used office furniture and cubicles. His business

philosophy is unique and he believes in building

customer relationships by having fun at work.

Interview One- Seth DeForest Seth DeForest founded Boomerang in 2001 with a

warehouse & 5 employees

Started by purchasing the inventory of a going out-of-business used office furniture company

Pure cash-flow company/no financing

Distribution & Marketing Strategy

A look inside Boomerang…What do these have to do with selling used office

furniture?

Interview One- Seth DeForestWhat does it take to be a successful

entrepreneur?

People, product and passion Soul of the company Know your product, customer and distribution Challenges

Interview- AssociatesWhat makes Seth a successful entrepreneur?

Hard working and passionate

Understands the product, marketing and distributionCaterers to his customersRewards his employeesStays within his financial means

Financial Analysis

The Boomerang Effect

The Financial Statements

The Impact

The Boomerang EffectMinimal investment, maximum return

Pre-owned office furniture @ 50-75% savings

Purchaser obtains quality pre-owned office furniture while:• Making the most of their furniture

budget• Saving time• Helping the environment

Estimated Income Statement Using Industry Averages

Sales – Increasing by $1.0 million+ per year Inventory - $10 Million Debt - $0 Based on known figures and industry averages:

Ind. Avg. 2004 YTD ’05Total Revenue 100.00% 4,000 5,000 Total Expenses 79.88% 3,195 3,994 Net Income 20.13% 805 1,006

(000’s have been omitted)

The Impact Turned around a failing business Currently employs 15 people Gives back to the community Environmentally friendly

• Reduces discarded waste• Less pollution• Reduces waste of natural resources

A positive impact on the community

Problems Young Entrepreneur Having too much fun/relaxed relationship with his

employees Overly optimistic & confident

• Started a new venture without a proper business plan

• Pursuing an opportunity without a stated NEED for the product/service

Problems Delegation of responsibility and authority Promotion of people to positions for which

they are not qualified Keeping people for convenience vs. skill

requirement Lacking a long-term business strategy Risk of purchasing the wrong product

Recommendations Continue to use creative “outside the box” thinking Continue to foster a team environment amongst

employees that promotes entrepreneurial ideas Utilize planning (i.e. business strategy) and market

research Develop better skills for interviewing & cultivating

potential employees

Questions???