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Business Plan Competition
Transcript of Business Plan Competition
William Purdy (CEO)
Casey Stengel (CFO)
Ariel Abesamis (VP of Sales)
Anna Cinquemani (VP of Human Resources)
Arthur Rudel (VP of Design)
Anthony Sposato (VP of Purchasing & Administration) StyleXpress 29 employees
StyleXpress, a class ‘C’ corporation
Founded on November 17, 2012 at East Islip High School on Long Island, New York Current Economic Condition GDP Risen to 2.7%
Unemployment rate: 8.3% and continuously decreasing
Decreased unemployment means more disposable income
Consumer spending in the second quarter of 2012 has risen by .2% Real World Analysis Consumer spending declined in 2008
Increased demand in 2010 for sunglasses.
The sunglass industry was ranked one of the top ten growth industries of 2012.
Sunglass sales have grown 4.5% since 2011.
Sunglass industry = 66.7 billion dollar industry.
Jewelry demand, expected to grow at an annual rate of about 4% each year. (Greyling.com) Target Market -StyleXpress' target market very broad:
Appeals to both genders
-Major 4 Targeted Market Groups:
VE Employees ages 15-18
Visitors at International and Long Island Trade Fairs
Non-VE Sales to East Islip High School Faculty
Decision makers of prosperous firms for our CorporateXpressions line. (Business to Business) Mission Statement Financials Virtual World Analysis Staff lacks business experience
Weak cash flow
Lack of brand recognition
Products are not necessities
Expensive product line At StyleXpress, we strive every day to earn the confidence and trust of our clients through providing a unique online shopping experience. We satisfy our customers with an unprecedented selection of today’s trends, always changing and always in style. SWOT Psychographics Identify consumers buying trends
-Surveys containing questions about personal style Mindset of those who would like to be fashion forward. Product PLACEMENT PROMOTION POSITIONING PRICING Three product lines Non-Virtual Sales Social Media Employees can make a purchase every pay period Indirect competitors only.
Random items vs. Comprehensive product line. Intro Retail Sunglasses 3.3% increase
Sales in watches and jewelry grew 7.6%
$1.66 billion for first two quarters
Significant increase from 2011 Strong leadership
User friendly customizable jewelry section
Creative Website Trade shows
Sunglasses are top 10 growing industry
Only firm with customizable jewelry option
Little Competition Weak economy
Rapid shift of style
New competitors to the market Management Functions Strengths Opportunities Weaknesses Threats SUNGLASSES JEWELRY ORPORATE PRESSIONS Planning Short Term Goals: Interactive website allows for customization of jewelry Multiple designer brands Oakley
Michael Kors CorporateXpressions apparel is offered for various departments, or whole company. Long Term Goals: Heighten brand name recognition .
Generate cash flow prior to trade fair.
Maintain a flexible, user-friendly website Create long lasting relationships with nearby firms
Maintain a high level of customer satisfaction Organization Directing StyleXpress has created a efficient system for employees to work under, consisting of the constant use of the Virtual Enterprise Task Guide, as well as weekly executive and departmental meetings to keep staff on task. Controlling Contains information regarding current and previous tasks assigned.
Allows for monitoring of employees as well as allowing for guidance and assistance from executives. Insert Image Of Progress Log 25-30% of total revenue LIVE Trade Fair & International Trade Fair 50-60% of total revenue Facebook
Twitter Personal Selling E-mail
Telephone Repeat Business Ring pops to each customer with invoice Average net pay is about $360 every two weeks Demographics Product Benefits Developing the product line StyleXpress chose to include:
Luxury wear Geographics Emphasis on selling to firms in our region
Reciprocity to develop business relationships = CorporateXpressions "WHERE STYLE LIVES" Thank You For Your Time. Sunglasses
Jewelry & Watches
CorporateXpressions Penetration Pricing Brand Recognition Cross Departmental Committee Accounting Marketing Sales Design Administration "Where Style Lives" Projected Annual Expense Loan Amount: $160,000
Paid over 5 years, 8 payments a year
Interest Rate: 4.75%
Interest Paid: $20,233.69 Loan Amortization C X Sphere of Influence (World Business Magazine) Break Even Point Business Risks Cash flow crisis. Lack of business experience 2139 Sales