Joy to the Jars

Business plan

11/23/2016

Table of Contents

Company Description ……………………………………… 3

Definition of Market …………………………………… 3

Description of Products and Services … 4

Organization and Marketing …………………… 5

Marketing and Sales Strategies ………… 5

Financial Statements …………………………………… 6

Company Description:

Joy to the Jars is a community oriented company with a mission. Our mission has been to spread holiday cheer throughout Whidbey Island by selling a product. From five aspiring young ladies came an idea; this idea was to assemble chocolate chow in mason jars, providing a sweet and delicious fall and upcoming winter snack to share with friends and family or to enjoy yourself.

Definition of Market:

Joy to the Jars worked to reach out to consumers and vendors who, like us, are community oriented. Our business catered to Whidbey Island locals. In particular, these locals included:

● Middle aged women ● Individuals who were small business oriented within the community

● Anyone interested in a holiday gift Joy to the Jars has created a vendor profile, consisting of Whidbey Island locals with promotional resources to help promote our cause with flyers and word of mouth. In addition, we targeted locals that

are middle to upper class women that concentrate their shopping on local businesses and giving back to the community. Based on our market research, we found that our best target vendor/consumer was a middle aged female (30-60 years old) with a disposable income.

Description of Product and Services: The Joy to the Jars product consists of an eight ounce mason jar filled with chex cereal covered in chocolate topped with powdered sugar.The mason jar itself was labeled and decorated with cupcake liners. The Joy to the Jars product provides a sweet and savory snack for the chilly fall and upcoming winter season.

Organization and Management:

Sarah S.-CEO/sales

Sarah P.-CFO/sales

Peyton C.-VP of sales/sales

Jacklyn C.- sales/marketing/advertising

Caity T.-sales/marketing/advertising

Kim-Mentor

What we did to promote and market our business was as followings:

● Flyers

● Door to Door Sales ● Social Media ● Onsite Sales

○ Posh Upscale Resale ○ Haggen ○ Three sisters farm ○ Flyers restaurant

● Word of Mouth

Marketing & Sales Strategies:

An announcement was placed into the chamber of commerce to market our product to those who we knew were supportive of local businesses as well as student entrepreneurs. We then decided to make a list of insurance agencies,real estate offices,and banks to bulk sell to and get more of a mass market. This worked extremely well as several people ordered in bulk for their clients. Flyers were distributed as well and received many emails and calls from those interested in buying our product. Our last strategy was to find stores that we were geared towards our target market that would let us sell outside of their store. This strategy worked great due to the amount of people

coming in and out of the stores and our product was a hit.

Financial Statements (Profit & Loss Statement):

Revenue-

Sales $1,758

Tips $100

Total Revenue $1,858

Expenses

Investment $170.26

Angel investment $24.36

Total Expenses $194.62

Net Profit $1,663.38

Loan

Amount Borrowed $194.62

Amount Repaid $170.26

(Angel investment of $24.36)

Joy to the Jars Bibliography Stim, Richard, and Lisa Guerin. "Chapter 9." Running a Side Business: How to Create a Second Income. Berkeley, CA: Nolo, 2009. N. pag. Web.

<http://web.b.ebscohost.com.access-proxy.sno-isle.org/sbrc/detail/detail?vid=19&s d=349ead9f-3184-4153-9095-c16f2bc1e4b4%40sessionmgr106&hid=125&bdata=JnNpdGU9c2JyYy1saXZl#AN=52470014&db=b9h>.

We utilized this resource for information to help us establish our marketing plan.

By using this resource, we made our own “Marketing Toolbox”. In our “toolbox” we decided to have samples, handouts, and ads of our product. We utilized the resources tips on online marketing and signs to promote our product. We also learned marketing tips. Some of these included: the customer is always right, to use words that sell, and to not rely on market research. Etherington, Bob. "Section 1." Presentation Skills for Quivering Wrecks. London: Marshall

Cavendish, 2006. N. pag. Web. <http://web.b.ebscohost.com.access-proxy.sno-isle.org/sbrc/detail/detail?vid=16&s d=349ead9f-3184-4153-9095-c16f2bc1e4b4%40sessionmgr106&hid=125&bdata=Jn pdGU9c2JyYy1saXZl#db=b9h&AN=47598420>.

We mainly utilized this resource to learn how to present our products to potential

customers and clients. Since we are young and lack business experience, we wanted to be as professional and approachable as possible. Some tips that we found from this resource that helped us were to give the impression that you work harder than you do and to save time on your presentation, or in our case our sales pitch. We learned the importance of these tips when certain people became rather impatient when we talked to them about our product and student entrepreneurship. Therefore, we had to get right to the point while keeping a approachable and professional demeanor. Stim, Richard, and Lisa Guerin. "Chapter 3." Running a Side Business: How to Create a

Second Income. Berkeley, CA: Nolo, 2009. N. pag. Web. <http://web.b.ebscohost.com.access-proxy.sno-isle.org/sbrc/detail/detail?vid=23&s d=349ead9f-3184-4153-9095-c16f2bc1e4b4%40sessionmgr106&hid=125&bdata=Jn pdGU9c2JyYy1saXZl#db=b9h&AN=52469832>.

This resource helped our group learn the basics of managing our money and documenting our sales. The sections about record keeping and bookkeeping, borrowing from family and friends, and checks were the most helpful sections for our product and business plan. From the record keeping and bookkeeping section we learned to: recognize problems early, maintain our cash flow, and figure out when it was time to raise or lowers our prices. In the borrowing from family and friends section we learned

easy ways to get money from friends and family who are more willing to help. Lastly, in the checks section we learned to ask customers and consumers to view their photo ID before accepting a payment by check.

Simply Sound Soaps Business Plan

Linzi Maddox , Ashley person, Caleb Spears

11/21/2016

Cash flow: Simply Sound Soaps: Linzi Maddox , Ashley person, Caleb Spears

1. Cash on hand $100

Total $100

2. Cash Paid Out

Merchandise/ Supplies $146.36

Rent $5

Loan Payment $51.36

Interest $0

Total Cash Paid Out $151.36

Cash Position $151.36

Extra Labor Raking leaves

Get money to cover the loan loan=$0

Budget:

Product Soap

How much to sell? 123 soaps

Cost per unit Small chip squares:$.50 (29 soaps) Small soap bars: $1.50 (19 soaps) Medium soap bars: $$2.50 (24 soaps) Decorative soap bars: $3 (21 soaps) Large soap bars: $4 (30 soaps)

Math (T)151.36/ 123= appr. $1.23

Profit per unit Small chip squares: $ 14.5 - $1.23 = $13.27 Small soap bars: $28.50 -$1.23 = $27.27 Medium soap bars: $60 - $1.23 = $58.77 Decorative soap bars: $63 - $1.23 =$ 61.77 Large soap bars: $120 - $1.23 = $ 118.77

Goal $200

To meet Goal Small Chip Squares: $200/$13.27= appr.15 Small soap bars:$200/$27.27= appr.8 Medium soap bars:$200/$58.77= appr 4 Decorative soap bars:$200/$61.77= appr. 4 Large soap bars: $200/118.77= appr. 2

Goal $200 :TOTAL PROFIT minus charity If sell all soaps

$200*.10= $20 to Veteran Charity $ 279.85 *.10 = appr. $ 28

Business Plan: Simply Sound Soaps are homemade by Oak Harbor High Schoolers and are here to help you have fun while washing your hands to help stay germ free. We want people to stay healthy and clean through quality soaps. Simply Sound Soaps provide soaps that are unique, manufactured locally, simple, enjoyable to use and affordable. 10% of the profits will go towards veterans who have been injured and aren’t getting enough financial help from the government.

Simply Sound Soaps are satisfying for adults and teenagers, but women are more likely to purchase our product, because of the unique designs and smells. Our customer target market, lives in Oak Harbor and Anacortes, Washington. Our soaps are specially designed for the bathroom, both commercial places and residential places. Based on 2010 census data, Oak Harbor has a population of about 22,000 people. 38.6% have children under 18 living with them. 51.7% are married couples, 8.5% are 65 years old or older and 31.9% are between 18 and 23 years old. Anacortes has a population of about 16,000 people. 24.3% had children under 18 living with them, 51.5% married couples, 21.4% are 18 and 23 years old and 22.9% are 65 years old or older. Our focus is also for customers that have discretionary income.

Simply Sound Soaps segments its customers by different interests. People who buy are

more likely to buy our holiday designed soaps and military designed soaps. There are many people that fit our ideal customer, who live in Anacortes and Oak Harbor. People that have a creative eye for unique and fun designs are our target customers.

Simply Sound Soaps are unique shapes and colors. Our product can be used to be germ

free or as a decoration. Our soaps are also good gifts for the holidays. There’re sold at affordable prices, than other companies and soap makers that are at a higher end.

Linzi Maddox, is the president of Simply Sound Soaps. Linzi led the team throughout the

design, finances and manufacturing of the soaps and communicated with the team mentor and company employees. She’s a freshman at Oak Harbor High School and lives in Anacortes.

Ashley Person is in charge of packing and manufacturing.She moved to Oak Harbor from Hawaii and is a freshman at Oak Harbor High School.

Caleb Spears, is manufacturer and suggested soap as the product for our company. He

lives in Oak Harbor and is also a freshman at Oak Harbor High School. Simply Sound Soaps customers are reached through social media, such as Instagram and

Facebook. Also we created a survey and asked our target market questions for example, how much would you pay for soaps or what are the color and shapes for soaps that will catch your eye? It’s free advisement online. Direct sales to the public and circle of influence. Each person is responsible for connecting to their circle of influence. On Wednesday, we’ll be selling at the Elks Lodge’s dinner for all the members. Monday, Tuesday,Thursday and Friday each employee will sell the product in their location. Bibliography: Atozdatabases. Sno Isle libraries, COPYRIGHT 2016. Accessed November 2, 2016 Chialtas, Debbie. "Soapylove." N.p., n.d. Web. Accessed November 1, 2016 Mladjenovic, Paul. “ Micro-Entrepreneurship For Dummies”. Accessed November 1, 2016 Singh, Shiv. “Social Media Marketing for Dummies”. Accessed November 3, 2016 Schneider, Mike. “Location-Based Marketing For Dummies”, Accessed November 3, 2016 Blackwell, Edward. “Writing a Business Plan”.5th ed London: Kogan Page, 2008. p[5]-16. COPYRIGHT 2008 Edward Blackwell. Accessed November 3, 2016 Blackwell, Edward. “Simple Cashflow Forecast”. 5th ed. London: Kogan Page, 2008. p[17]-29. COPYRIGHT 2008 Edward Blackwell. Accessed November 3, 2016 Blackwell, Edward. “Manufacturing”. 5th ed. London: Kogan Page, 2008. p[17]-29. COPYRIGHT 2008 Edward Blackwell. Accessed November 3, 2016 Blackwell, Edward. “Planning the Borrowing”. 5th ed. London: Kogan Page, 2008. p[17]-29. COPYRIGHT 2008 Edward Blackwell. Accessed November 3, 2016 Blackwell, Edward. “Advertisement.” 5th ed. London: Kogan Page, 2008. p[17]-29. COPYRIGHT 2008 Edward Blackwell. Accessed November 3, 2016 Nolo. Sno-Isle libraries: “How to write business plan.” COPYRIGHT 2014 Edition. Accessed November 10, 2016 Sno-Isle libraries: “Small business Reference Center.”2016 Ebsco. Accessed November 10, 2016

Berry, Jan. Back Porch Soap Company: “Business Musings.”Copyright 2009 Marla Bosworth, TheNerdyWife.com. Last edited: June 15, 2011

Simply Sound Soaps (Linzi Maddox, Ashley Person, Caleb Spears)

Receivables Payables

Cash On Hand 100.00

Cash Receipts 275.75

Donations 45.00

Other Cash Injection 146.36

Total Cash Receipts 420.75

Total Cash Available 420.75

Cash Paid Out

146.36

Rent 5.00

Total Paid Out 156.36

Total Cash Position 269.39

Donationing 5% to charity 13.50

Total Net Profit 255.89

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