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Picture That: The Picture Perfect Company

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by

Connor Pease

on 25 February 2015

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Transcript of Picture That: The Picture Perfect Company

Mission Statement:
Our goal is to create a fun and unique collaging experience for everyone while ensuring top quality in the picture frame market. Our easy to use, fully adjustable picture frames bring home decor to a brand new level.
Code of Ethics:
Customer Relationship
Create Brand Loyalty
Positive Reputation
Operations and How Things Work
Accounting
Picture That: The Picture Perfect Company

Marketing Mix
Financing
$1,000 from each person, $10,000 from each family
$57,800 bank loan from Citizens Bank
5.5% interest rate over 5 years
C.R.A.K.K.
Start up Costs
$5.78 per unit * 10000 units
$2,000 for office desks
Connor
Pease
Limited Partnership
Place
Promotion
$8106.35 for advertising
Kevin
Ludemann
Exit Strategy
Rebecca
Altman
When we run out of money, and are not turning a profit
Irresistible offer: $5 million+
Competition Pricing Strategy
$2.28 Produce, $3.50 Packaging and Labor $5.78 Total Cost
$28.00 retailers, $31.99 on website
Kyle
Richard
www.picturethatframe.wix.com/picturethat
College Bookstores and Kiosks
Retailers; JC Penny and Michaels
Ratio
Phoupasit
Souvannavong
Current Ratio: 4.31 vs.
1.78
Nearly 95% of people surveyed said they were very interested in our product
6.56% said they would definitely purchase this frame within the next 3 months
a majority of these people were female
Acid-Test: 1.09 vs.
1.06
Magazines (Home and Garden)
Flyers
Google Ads
Inventory-Turnover: 0.26 vs.
0.06
Important Survey Data
Operations and How Things Work
Finances continued...
Only one general partner is personally liable
Three-Year Cash Flow
Easier decision making
Profit at end of September the first year
Assume high sales numbers during summer and holidays
Balance Sheet
What is the product?
Plastics Plus, Inc. in Cumberland RI.
International Packaging Company in Pawtucket RI.
Base of Operations: 102 Theresa St. in Woonsocket RI.
Delivered by our company truck to each location.
Return Policy.
Income Statement
Changes C.R.A.K.K. would make?
Simpler product
Less procrastination
Ask more questions

Operations and How Things Work
S.W.O.T.
Strengths:
Unique adjustability
Small Cost
Flexibility
Greatest Revenue Factors
Weaknesses:
Lack of Experience
Low Assets
Customer satisfaction
Price and Quality
Opportunities:
Framing Industry
Economy
Threats:
Decline of Industry
Competitors
Industry Trends
Worth 2.1 billion dollars
Benchmark Company:
Aaron Brothers Inc.
50% market share
Picture framing experience
General partners are only taxed once
Limited partners cannot participate in business operations
Shares of partners cannot be sold
Unique and innovative frames
Joy and passion in the customer

Price
CEO
Director of Marketing
Director of Survey Information
Director of Industry
Director of Operations
What is Picture That, and how did we come up with the idea?
Target Market:
Mothers
Female college students
Full transcript