Positioning Statement
The product we have created was made for outdoor living. It has ports, storage space, a wide umbrella, and seating. Our product includes things that will make it possible to be outside for a long time. Because of the wireless chargers, our customers will be able to charger their devices which is one of the biggest factors our table has since nowadays it's all about technology.
Pricing Strategy
We would like many people to be able to afford our product but since we are still a small business we will use a pricing technique called psychology pricing. In order to make enough money to help our business grow, we will sell our product at a certain price and then lower it later on as our company becomes more successful.
Sales Strategy
In order to get the word out there for our company we will make commercials and use billboards. We will also be depending on our customers to recommend our product to others.
Revenue Strategy
We will have long and short term sales strategies depending on what works for out business. We will be asking ourselves questions like "What is our goal?", "Who are we targeting?", and "How can we best promote our product?"
Sales Forecast
Sales forecast is just like a weather forecast, there will be highs and lows. Starting off we won't make much but then as the year goes we will be making more since we are advertising our products and will be learning how to work with what we make and lose each month.
Revenue Streams
Making enough to pay our workers and push the company forward depends on each sale we make. We focus on the amount of income since budgeting and making sure we have enough is important.
Milestones
Every time the company completes something that has been given a due date, that is a milestone reached. Each milestone will have it's own rewards like making our customers happy, the growth of the company, the feeling of completing something, ect.
Assumptions
Average percent variable cost- 20%
Estimated Monthly Fixed Cost- $30,000
Estimated Monthly Fixed Cost- $30,000
Break-even Analysis
Our company will eventually reach the breakeven point. In a hypothesized 2-3 years. After this time period our company will begin to make a profit not exponentially, but gradually.
Projected Profit and Loss
We estimated around how much we will be making when we sell and how much we will lose when making each table. In the first year we won't be making much since we are just barely going to be starting to sell. By the year 2020 we hope t be making around $6,000 more since more people will know about our product(s).
Projected Cash Flow
Projected cash flow includes the amount of money we expect to flow in and out of our business. It also includes our projected income and expenses throughout the 12 months.
Projected Balance Sheet
Balance sheets includes spending and income which is how much we will be spending on things like vehicles. The projected balance sheet depends on the amount of money the company makes.
Business Ratios
ACCOUNTS RECIEVABLE
1ST YR- 20.39% 2ND YR-20.75% 3RD YR- 19.27% INDUSTRY PROFILE- 21.00% |
SALES GROWTH
1ST YR- 0.00% 2ND YR- 3.72% 3RD YR- 5.00% INDUSTRY PROFILE- 6.20% |