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FitMe Launch plan

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by

Jin Lin

on 21 April 2014

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Transcript of FitMe Launch plan

Monica Quiros, Joshua McGovern, Justin Rams, Jin Lin, Tushaar Kalra, Anamaria Najera, Anna Wang, Morris Mattout, Kiley Fischer, Gianna Sapounakis, Alana Atchinson, Parker Rand-Ricciardi, Robert Quirk
Mission Statement
FitMe intends to promise simple solutions to its customer’s fitness needs at affordable prices; in doing so, it hopes to promote widespread fitness and health across different age groups.



Company Overview
Sell to individuals, running groups and teams to achieve profit and growth
Create an open and accepting company environment
Promote a positive attitude towards fitness and a healthy lifestyle

Goals
Values
spandex, nylon fitness belt
4 compartments holds and protects valuables
affordable, simple and stylish
comes in different colors
offers customization
Suppliers
Belt Manufacturer
AE Fashion Inc.
307 W 36th St 5th FL, New York, NY 10018
(212) 643-5493

Backup: BK Studio Inc.
257 W 38th St 14th FL, New York, NY 10018




Inventory Management

Production and Delivery Time: Two Weeks
Initial Inventory: 200 belts with different sizes and colors
Storage: Babson Rented Office Space
Sorting: In cardboard boxes by sizes and colors
Keeping Track of Inventory
Operating Schedule
Access to inventory: restricted to COO and VPs of Operations
1/3/14 - Receiving funding and make initial inventory
1/20/14 - Initial inventory received and stored
1/21/14 - Official launch of business
2/1/14 - Breakeven
2/2/14 - Estimate inventory re-order #1
2/24/14 - Estimate inventory re-order #2
4/18/14 -Final Day of sales

Sales
Target for Sales: Running groups & Running events
Every member of the team will attend the 6 sales trips
Sales quota: (Sales goal=420 belts)
Sales department responsible for 50% of sales goal =210 belts
50% sales goal will be shared among other group members
Human Resources
Responsibilities:
Enhance communication and work performance
Ensure a happiness and tranquility for a productive work environment
Resolve conflicts amongst departments or employees and with vendors, sales, or customers

Resolving Internal and External Conflicts:
Internal: employees report conflicts to HR
Meetings scheduled
All information gathered is confidential
External problems: head of department notify HR

Cont. Human Resources
Performance Appraisals:
Conducted monthly Jan-April
Survey conducted to measure skills and accomplishments of employees
Identify areas for performance enhancement and professional growth
Measure employee’s work efforts at marathons and running events Feedback


Communications
Make sure all employees understand assignments
Up to date with meetings
Will work closely with marketing team
Weekly pulse reports
How we present ourselves

Corporate Social Responsibility
Goal: to have a positive social and environmental impact
Suppliers have environmentally sound practices
Promote healthy, active life style

Business Structure
Entrepreneurial Thought & Action
Balance creation and prediction reasoning to overcome obstacles
Act logically to help the business prosper
Reflect on actions and decisions for overall growth
Promotion/Advertisement
1) Launch Event

2) 12 Week Giveaway

3) Free Test Runs at Webster

Media
Website
Social media advertisement
Facebook
Twitter
Instagram
YouTube (promotional video)
Launch Plan/Request for Funding
FitMe views itself as a partner to its customers, its employees and the environment and it aims to provide solutions and convenience in ways that are in compliance with all of its partners’ needs.
Fabric Supplier
Spandex House Inc.
263 W 38th St, New York, NY 10018
(212) 354-6711
Logo Printing Supplier

Supersonic Apparel, LLC
43-25 157th Street
Flushing, NY 11355


Packaging Supplier
Uline.com
12575 Uline Drive Pleasant Prairie,WI 53158
1-800-295-5510
Honesty
Respect
Tolerance
Dedication
Impact
Promote healthy living through running and physical activity
Excel Spreadsheet:
Easy tracking of inventory checked in and out
Share inventory and sales information
Makes sure inventory and sales match
Belts are taken out as a liability for the company member checking them out

Now let's get down to the numbers...
Assumptions
Cost Per unit: $11.13
Selling price: $20
Contribution Margin: $8.87
Breakeven: 103 units (1st week February)

Our Product
Marketing
Target Market: 8,000
-Runners
-Fitness Enthusiasts
-Babson sports teams
Quality of Work Life Surveys:
Two conducted February and March
Each employee evaluates work environment and satisfaction with job
Adjustments can be made so everyone’s best work is put forth

Operations
Pro Forma Income Statement
Total Revenue: $8,400
Total Gross Profit: $3,725
Total Net Income: $2,806
Gross Margin: 45%
Profit Margin: 33%

Cash Budget
Marketing: $300
Company Bonding: $250
Inventory: $2670
Office Supplies: $36

Rent: $50
Travel: $160
Website: $60
Sales Tax Payment: $525

Start up Costs
Price: $20
tMe
I
Operations department: weekly inventory count to ensure minimum requirement of 50 belts
Full transcript