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OMG GUM! Business Plan
Transcript of OMG GUM! Business Plan
We believe that we are different because gum has never tried to clean teeth while providing exotic flavors. Everyone can feel good that while they are chewing on a food flavored gum, like taco-flavored gum, that the gum on the other side of the pack will clean their teeth just as much as toothbrush could. It is 2 benefits in one. We are opening up a new market in both dental hygiene as well and the gum industry that has not previously been discovered or tried.
We chose the US as our starting market because it would be more cost-efficient and easier to ship. we also learned that we could have large possible markets in other countries when we choose to expand. One example of a country that we could spread to is Saudi Arabia. However, the United States standards for the FDA could be an obstacle in producing the gum.
Research: We realized that although many different types of gums existed, there was really not one that focused on dental hygiene. There was a gap in the market, and we decided to fill that gap by creating OMG GUM! - a creation of toothpaste gum and food flavored gum. We decided to research to see if our creation had already existed, as many ideas happen to already be created. We realized that our toothpaste gum only existed in other countries, specifically Japan and France. Our food flavored gum already existed, but we could always improve on it.
The Beginning of A Revolution
We decided to manufacture our gum in
Haverford, PA due to the fact that there was already a gum factory built there. It is also being sold very cheap. This creates more jobs as
well as provides more money for the
economy. It is also easier to export due
to the fact that it is located in the United States.
Human Resources and Creating:
We are planning to employ 500 people and we are going to be using state of the art machines to continually produce 477, 500,000 sticks of gum per year. We will pay each laborer $7.50 and healthcare benefits.
According to Orbit: "Initial research published in "Appetite" showed that chewing gum before snacking helped reduce hunger, diminished cravings for sweets, and decreased snack intake by 36 calories. Similar results were reported in a follow-up study with restrained eaters, that is, individuals who tend to restrict their food intake in order to lose weight or maintain a healthy weight. The effect of chewing gum was to reduce snack intake by about 10%; hunger and the desire to eat were significantly suppressed by chewing gum.A study by a different research group showed similar results."
Where are we planning to sell our product?
We are planning to sell mostly in convenience stores and grocery stores, and place it ideally in the check out lane, as studies show that the most impulse buys happen at this part of the store. However, as our product falls into 2 separate categories, we could also sell it in the candy and dental hygiene aisle.
Once we grow a following or an interest, we could sell the gum packs in bulk to big box stores like Costco, Sam's Club, ShopRite, and BJ's.
Using creative catchlines, such as the one below,
grabs intrests of consumers with creative words,
and bright colors.
- Our value is 19 million dollars or 1% of the market share.
- Annual revenue is $20 million.
- We are producing 1000 tons of chewing gum.
- We are spending $240,000 in total gum base for 4 years.
- We are spending $60,500 in total gum base per year.
- We are using 250 tons of gum base per year.
- We will be producing 477,500,000 sticks of gum every year.
- We will be spending $500000 on Research and Design.
- We will be producing 3,979,160 packs of gum.- We will be paying $1.26 million for an already built gum factory in Haverford, PA.- $2,000,000 for executives.- $2,000,000 for shipping and upgrading/fixing - We will be spending $84,000 for advertising.-Our total salary given away to all the workers for a 10 hour workday and Sunday's off is about $11 million.-For a 30 year mortgage we will pay about $1427400 a year- The overall cost for the first year is $19070000.-The overall cost for the next 29 years is $17800000- The overall cost after that is $16380000