Ride DaWave

Shequari Edwards and Devon Evans 17Age17

Mission Statement Mission Statement To ensure our customers the most all natural hair

product and good service. Opportunity This will give our customers a chance to have better

hair products locally.

Business Profile Type of Business

retail service We provide a natural crème based wave

lotion that has the hold of a pomade. Legal Structure Partnership Limited Liability Company We chose a partnership because their

would be more ideas between the two of us. Having a partnership would share the responsibility and work load of our company.

Qualifications I’m qualified to run this business

because:

We are a part of our target market

Natural idea for healthy hair

We have taken a Marketing and Entrepreneurship Business class

Market AnalysisIndustry Name Cosmetics, Beauty Supply & Perfume Stores

Industry Size $10 billion

Total Population Hartford county

Target Market Both man and women, ages usually range from 18-35

Potential Market Based on 25 individuals 88 percent of the people wanted an all natural wave product with no build up.

894,478

17,400

19,773

Total Population

Target Market

Potential Market

7

Target Market Segment Demographics

We plan to focus on the ages of 18-35 years of age. Male or female who have a low cut and wants 360 waves naturally.

Geographics The focus of our target market

live in Hartford, Connecticut. Our target market are people who wants to keep their healthy and natural.

Psychographics Our target market is people

who wants to develop 360 waves naturally.

Buying Patterns Our target market’s buying

patterns are people who are loyal to one product and may put the word out if or when it works for their hair.

Competitive AdvantageRide Dawave

(crème)360

Style(pomade)

WaveBuilder(Lotion)

Factors

5.19$

Quality of Product/Service

Price

Location

Reputation/Brands

Unique Factors/Knowledge

2.99$ $10.00

Excellent Great Excellent

Smooth and great hold w/ grease

Great hold and washes

out easy

All natural & all

around performanc

e

Online/ store

Online/ store

Online

Excellent Excellent Excellent

Marketing Mix

People Product Place Price Promotion

Males and females 18 - 35

• Word of mouth• Business cards• Social networks• Sale to distribution

stores

Hartford , ct Online website

An all natural crème that has the hold of a grease without the non sticky build up.

Affordable starting at $ 10 (plus shipping)Only applies to people online

Promotional Mix

Advertising Business cards $3.99

Publicity Facebook, twitter, word of mouth, website $0.00

Personal Selling 10 Free product samples $7.50

Sales Promotion

25% more of our product in the summer $12.50

Total Monthly Promotional Expense $23.99

Promotional Expense MonthlyAmount

Cost of Materials/LaborMaterials

Material Description Cost/Total Quantity Cost per UnitDouble wall plastic jar (4oz)

$ 200/$ 129.95 .65$

Pure un-refined raw shea butter

6.95/50 1 teaspoon .15$

Jamaican black castor oil

$9.50/50 1 teaspoon .20 $

Organic burdock root (samples)

$ 1.95/50 .04$

Total Material Cost per Unit 1.04$LaborLabor Cost per Hour Time (in Hours) to

Make One UnitLabor Cost per Unit

$8.25 Time 15min. 2.06$Total Labor Cost per Unit 2.06$

COGS (per Unit) one bottle: 1.04+ labor: 2.06 = $3.10

Economics of One Unit

Selling Price (per Unit)$10.00(plus shipping and handling)

COGS (per Unit) $3.10

Other Variable Expenses (per Unit) $0.00

Total Variable Expenses (per Unit) $3.10

Contribution Margin (per Unit) $6.90

Description of One Unit of Sale:

One jar of all-natural wave lotion

Average Monthly Fixed ExpensesFixed Expense Average Monthly Expense

Salary of employers $300.00

Advertising (business cards) (online advertisements) $23.99

Depreciation (freezer, phone, laptop) $25.11

Utilities (Gas, Electric, Telephone) $35.00

Rent (home) $40.00

Total Average Monthly Fixed Expenses $424.10

Time-Management PlanSchedule for a Typical Week

Total Hours in a Week = 168

School

New Business

Free Time

0 20 40 60 80 100120140

40

7

121

Hours

Monthly Sales ProjectionsFirst Year

050

100150200250300350

Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec

Uni

ts So

ld

Total Units Sold

2,355

Monthly Break-Even Units

In an average month, the company will begin to make a profit after selling units.194

Monthly Fixed Expenses

Contribution Margin per Unit

= Monthly Break-Even Units

756.06

3.90= 194

Projected Yearly Income StatementFir st Year

Selling Price per Unit $10.00

Number of Units Sold 2,355

Total Sales $23550.00

Variable Expenses $7300.50

Contribution Margin $16249.50

Fixed Operating Expenses $5089.20

Pre-Tax Profit $11160.30

Taxes @ 15% $1674.05

Net Profit $9486.25

Start-Up InvestmentStart-Up Expenditures

Item Where Will I Buy This? CostComputer Best buy already own Cell phone T-mobile Already own

Start up supplies/ingredie

nts

Bj's or wholesale website

$279.00

DBA City of Hartford $10.00Business cards

(250)Vistaprint.com

$3.99Partners

agreement Webster & Myers, LLC

$150.00Total Start-Up Expenditures $ 442.99

Cash ReservesEmergency Fund $ 221.49

Reserve for Fixed Expenses $ 2268.18

$2932.66Total Start-Up Investment

ROS & ROIROS: Return on Sales

For My Business: DollarEquivalent =

ROI: Return on Investment

For My Business: DollarEquivalent =

$9,486.25$23,550.00 X 100 ≈ 40%

$9,486.25$2,932.66 X 100 =323%

$.40

$3.23

Financing Strategy

Source Amount Debt Equity Gift

Personal Savings xRelatives/Friends 100.00

Investor xPartner(s) 200.oo

Totals 300.00

$442.99Total Start-Up Investment

Business Responsibility& PhilanthropyPhilanthropy

Ride the wave will give 5 % of our net profit to a foundation for cancer research and also 3- 5 hours out of the week to comfort these special people and make their life’s a little better than yesterday.

Business Responsibility As our business grows we plan to use more eco- friendly

jars or bottles that our all natural product we be placed in.

Business & Personal Goals

Our short goal business plan is to double the

money we put into this business in a year.

Business Personal

To move out from selling these products out my house into selling many different products in a local store front.

Shor

t-Ter

mLo

ng-T

erm

D: To be working in the medical field as an APRN or MD.

S: I plan to be an artist or graphic designer for clothing and pictures.

• To graduate from high school and

go to 4 year college.

Taking care of your hair in everyway, everyday!

Thank you for your consideration.Ride Da

Wavehttp://Devonevans.inuitwebsites.com