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Business Plan

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by

Vishal Vinjapuri

on 2 April 2015

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Transcript of Business Plan

Market: Education
Employees and Manufacturing
The future of textbooks
CrystalText
Our product is called the CrystalText
This product will help reduce cost and save the environment
Instead of buying multiple textbooks and wasting thousands of dollars, you can the
Portable, attractive, and easy to use in class or on the go
Trees are being cut down for paper and this can be reduced by digitizing textbooks
These new digital textbooks will have interactive features that engage readers
They will also have sections to take notes
The design of our product is sleek and modern. It is crystal clear but can provide a translucent background of your choice.
We will market to customers through social media such as Instagram and Twitter because they are both free and many students have accounts for these services
Our main goal is to get school districts to buy these because it will allow us to sell thousands of them
We are asking for $200,000 in exchange for a 10% equity stake in our company
Main competition will be from other low-cost tablets and e-readers, such as the Kindle or Nook
A current business partner we have is History Alive!
We are looking to make deals with other companies such as Pearson Education and McDougal Littell
There are many ways to expand this product and the high cost of textbooks will not change anytime soon
Many parents will like this idea because students will not have to carry heavy books
Retail Price
Wholesale
$150 per device
$125 per device for 30 units (bulk)
Conclusion
Markup price from the manufacturer to retail stores is 200%
Markup from the manufacturer to the wholesale units is 150%
Markup from wholesale to retail stores is 20%
Profit made for retail is $100 per retail unit and $75 for wholesale units
Cost per textbook
Hard Copy
$100
$10
Device
$150
$0
Total cost
Number of Books
5
$200
$500
or
$125
or
$175
5
Market Price Comparisions
Market Plan
Economics
Cost to manufacture
$50 per device
CrystalText
Device Specs and How It Works
Our device has a screen that measures 9 in diagonally and has a resolution of 1280 by 720 pixels
The screen is made of a clear liquid crystal display and it is an color e-ink display so it is easy on the eyes and does not cause headaches
It uses lithium ion batteries which are made from silicon substrate with nanoscale trenches. This allows for the battery to be virtually invisible
There is a 720p front-facing camera and mic for video chat with teachers
The whole device is beautifully crafted with tough Corning Gorilla Glass 4
This keeps the device very light and resistant to scratches and shattering from drops
The devices are also waterproof
Each device comes with 16gb of flash storage which allows up to 150 textbooks to be stored on it
You charge it through Qi wireless charging pads
We currently distribute and manufacture our devices in Fort Worth, Texas
We have large machinery that takes about 15 min to manufacture a CrystalText
Our employees supervise the machines and test the devices before packaging them
Eack employee makes about 360 CrystalTexts everyday
They work for about 8 hours, and we pay them $13 an hour
We pay about $379,600 to our employees in total every year
Our products are packaged in boxes that are 1 foot by 1 foot by 1 foot
Shipping and Packing costs us about $2500 every month depending on how much we sell
Shipping on average every year costs about $30,000
Advertising
We will advertise by posting on different social media sites such as Instagram, Twitter, Facebook etc.
These websites and services are our main target because many students use them frequently
They are also free of cost so we can use the advertising budget for other things such as manufacturing
In the future, we will consider video ads on sites such as YouTube and Hulu
On our YouTube channel we post educational videos on the product such as setup and how to download new textbooks
Our current social media campaign seems to be working because many students are spreading the message to their friend and family
With the money you give us, we will directy advertise to school districts by going there and demoing the product to them
Thanks for listening to our presentation!
Any questions Sharks?
By Teresa and Vishal
Current Profits and Sales
Currently we have been in business for 6 months
This is through Amazon and also through retail such as bookstores and technology focused stores like Best Buy.
We have sold about 16,000 CrystalTexts over that time period
We have made about $2.4 million dollars in sales currently
Our profits have been about $1.6 million dollars
We have a projected sales figure of about$3.6 million dollars in sales over the next 6 months
Our costs have been paying employees, shipping and distributing, and machinery
This all adds up to about $800,000 in costs
Your ROI is $322,102 after 5 years
Full transcript