Business Plan 2021 CANYON CREST - CREATED BY Wyatt Beal, Jasper Blume, Junior Achievement of San Diego County
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
MOAR
MASKS ON A ROPE
Business Plan
2021
CREATED BY CANYON CREST ADVISORS
ACADEMY
Wyatt Beal, Jasper Blume, Brian Baum, Faculty Advisor
Audrey Chan, Xavier San Diego JA Branch Lauren Feehrer, Volunteer Advisor
Chauvapun, and Alan Gereb
EXECUTIVE SUMMARY Summary Statement
To date, MOAR has sold a total of 279 units
through direct sales, resellers, and online.
We are reaching our target market by
building awareness of lanyard use through
social media, flyers, guerrilla marketing
events, pop-up stores, and personal selling.
Currently MOAR has generated a modest
profit. However, with bulk orders and
MISSION continued individual sales, we are on track
to increase our profitability.
MOAR's mission is to promote the wearing of
masks to protect against COVID, other germs,
pollution, and pollen by making mask wearing Summary of Finances
as convenient as possible. We do this by
providing high quality, affordable lanyards
that help wearers keep their mask handy,
clean, and worn appropriately. 279 47%
Units Profit
We want to do MOAR for our community by
donating 25% of sales to the Community
Sold Margin
Resource Center (CRC) in Encinitas, a non-
profit dedicated to providing support and
counseling to those in need.
Generated Revenue - $316
Start Up Costs & Donations - $269.29
Table of Contents
Executive Summary 1
Company Overview 2
Products 3
Operations 4
PRODUCT DESCRIPTION Management 4
MOAR lanyards are made of durable nylon and Market and Marketing Strategy 5
come in a wide variety of colors. All lanyards
have plastic clips that are compatible with all Sales and Promotions 6
types of masks and have an adjuster to ensure
proper fit per the CDC guidelines. Financial Report 7
Future Potential of the Company 8
By MOAR Masks On A Rope
Company Overview
MOAR was founded and is run by five high school students from Canyon Crest
Academy in San Diego. The initial idea was pitched by Wyatt Beal, CEO, when mask
wearing peaked in California. As a volunteer at the CRC, he saw how many people
struggled with their masks, and wanted to do something to help. In many places,
masks are still considered a hassle to wear, and in some places masks litter the
ground after being lost or discarded. Ill fitting masks that slip under the nose reduce
effectiveness, and still expose wearers to germs. We eliminate the hassle of lost and
dirty masks by keeping the mask securely around the users neck when the mask is
not in use, and we eliminate ill fitting masks by providing an adjuster that ensures a
proper fit.
Our strategy to compete with existing sellers is by offering available, high quality,
low priced lanyards that are easy to use and convenient. Our main priority is to
ensure that customers are able to use the lanyards immediately after purchase. Since
MOAR’s inception in February 2021, we have seen increasing interest in direct sales,
sales through resellers, and online sales. MOAR received an initial venture capital
amount of $250 which was used to secure inventory that is currently being sold in
California, Illinois, Louisiana, Missouri, Massachusetts, and Washington.
TO DATE DONATIONS
$75.25
2
By MOAR Masks On A Rope
MOAR Products
MOAR lanyards are made of durable nylon that will not break as it is taken on and off.
The material can be spot cleaned, sprayed with disinfectant, or machine washed on gentle
cycle. Additionally, the material is strong enough to support pins to customize the lanyard
per the consumers preference. The clips are compatible with disposable and fabric masks,
and made of plastic to prevent scratching, rusting, and allergic reactions associated with
metal clips. MOAR lanyards have a circular sizing mechanism that allows for easy access
over the wearer's head and allows them to ensure that their mask fits snuggly
(recommended by CDC as the proper way to wear a mask). A mask that is loose or slips
below the nose is ineffective in stopping the spread of germs like COVID. MOAR lanyards
are available in a wide variety of colors and can be special ordered to have logos or
company names.
MOAR Customers
Our customers help promote MOAR lanyard use because once people see their friends and
family wearing a MOAR, they want a MOAR. Recently, Solana Beach Lifeguards bought 10
MOAR lanyards after seeing a friend wear one, and in Louisiana a girls basketball team
bought lanyards after seeing a player wearing one.
3
By MOAR Masks On A Rope
Management
The organizational structure of MOAR is designed to delegate individual responsibilities
to members while still being flexible enough to encourage as much collaboration as
possible. Each member is assigned a role related to either planning, marketing, finance,
organization, or sales. During the initial launching of the company, tasks were shared
between all group members to determine the general concepts for logo design, packaging,
and price ranges. Now, meetings are regularly held to discuss goals and follow up on
progress.
MOAR is currently comprised of 5 members:
Wyatt Beal (CEO) - Representative of
MOAR, delegates tasks and roles, pitches
sales to potential investors and customers,
oversees general tasks
Jasper Blume (CMO) - Design and
marketing lead, manages social media and
email communication, editor of published
work
Audrey Chan (CFO) - Reviews and records
all transactions related to MOAR, determines
budget and future, assists in design review
Xavier Chauvapun (COO) - Organizes team
schedules and goals, assists in reaching out to
potential customers
Alan Gereb (Director of Sales) - Reaches out
to potential customers and works with
finance to determine pricing
Operations
MOAR operates through a general process of securing inventory and distributing to
customers and resellers. Lanyards are purchased through our supplier and then repackaged
into a custom bag. Then they are divided into categories for individual sales - through pop-
up shops, employees, or online - and bulk packages through retail. Individually, customers
are able to select their preferred color of choice and can request gift wrapping and
personalized notes. MOAR is actively recruiting resellers. As of the end of April 2021 the
main reseller is the CRC Resale Shop in Encinitas, California. The CEO, COO, and Director
of Sales are actively recruiting additional resellers. Some businesses have purchased our
lanyards in bulk, and are giving them to their customers as a thank you for supporting them
through COVID. We are also pursuing sales to senior living facilities.
4
By MOAR Masks On A Rope
Market and Marketing Strategy
Target Market
Our lanyards are targeted towards people who
follow a busy, active lifestyle. When reviewing
our previous sales, we have found that a large
percentage of our customers have purchased
our lanyards for sports and recreation. Our
sales have spanned across all ages and
categories; however, our target market is
primarily to those with middle to high end
income. MOAR's target market tends to believe
the science that masks curb the spread of
airborne disease, and they want a way to wear a
mask that preserves personal freedom.
Trends in the Target Market
Target market usage of MOAR is increasing as schools transition back to in person learning
where lunch is an important part of the schedule. While vaccinations are moving forward,
there is no approved vaccination for children. Plus there is risk of COVID variants being
resistant to the vaccine. San Diego County has over 500,000 students, and we have a sales
history of selling to students who return to school. School districts represent a huge market.
Build awareness of how MOAR meets
customers' need of having a better way to
MOAR MARKETING wear a mask through social media,
events, flyers, and in store displays -
STRATEGY seeing a MOAR leads to sales
Make MOAR available for immediate use
5
By MOAR Masks On A Rope
Competitve Analysis
Our competitors are offering similar products for higher prices ($10 to $20 per lanyard) or only selling
in large quantities (minimum order of 20 lanyards). Our competitors do not donate a portion of their
sales, while we donate 25% of our sales to the Community Resource Center. The competitors at higher
prices are at department stores such as Nordstrom who are selling “designer - name brand lanyards” or
individual sellers such as those on Etsy who are selling custom one of a kind lanyards. Based on the
feedback we received from interviews our lanyards are higher quality and functionality than the
“designer” and “custom” offerings which have a tendency to break quickly and have no means of
tightening the mask when it is in use. The competitors selling in bulk are on sites such as Amazon. Bulk
competitors sell their products usually in packs of twenty or greater, which is an impractical quantity
for most individual consumers. Bulk sellers also tend to rely on consumers knowing what they want and
searching for it on the internet. Our research shows that consumers tend not to search out lanyards for
their mask because they are unaware of the benefits until they are educated, so our education program
gives us an advantage over other sellers. Furthermore, our research shows that people are more likely to
buy a lanyard for their mask immediately after seeing its benefits, that is why we are prioritizing
personal selling.
Sales and
Promotions
MOAR's image is based on using real customers
as our models. The image of a mask around your
neck clearly shows that it is a convenient way to
wear it when not in use. It stays close and clean.
To further promote this image we will continue
to use Instagram and are expanding to our local
NextDoor social media because it is heavily used
by our target market. We are also proactively
contacting schools, PTA groups, sports teams,
and ski resorts who are in a position to make
large volume purchases from us. Customers are
also offered a chance to win additional MOAR
lanyards by posting pictures of themselves with
our product.
WHY DO MOAR lets you take a drink or eat
without losing your mask.
CHILDREN LOVE MOAR holds your mask, so you can
MOAR LANYARDS? hold your handle bars. 6
By MOAR Masks On A Rope
Financial Total Revenue $316.00
Statement Total Expenses $269.29
(this includes committed donations to charity)
Net Profit $46.71
Currently, MOAR lanyards has a net profit.
This profit is projected to grow as we
continue to build our market. Recently Total Inventory $11.13
being featured in the Del Mar Times
boosted our sales. Our profit margin is 47%
on in-person sales and 53% on online sales.
MOAR's current sale price for lanyards is $1
for direct sales and to resellers, and $2
online. To date we have raised $75.25 for
the Community Resource Center.
279 units sold
$400 80
$300 breakeven $269.29 60
$200 40
$100 20
$0 0
1
4
1
14
1
14
)
nt
b1
1
14
1
14
1
14
21
b
ch
ril
re
ch
ril
Fe
Ap
Fe
b
ch
ril
ar
ur
Ap
ar
b
ch
ril
ril
Fe
M
Ap
(c
ar
Fe
M
Ap
Ap
ar
21
M
M
ril
)
nt
Ap
re
ur
(c
47% Profit Margin
In-Person sales
53% Profit Margin
Online sales
7
By MOAR Masks On A Rope
Lessons Learned
Members of the team have all learned that to
drive sales it is critical to educate consumers on
the better way to wear a mask. We have
expanded beyond our comfort zones to cold call
people and interact through social media. We
have also learned how important it is to hold
each other accountable for making progress. We
succeed as a team. Together we have learned
through trial and error what resonates with
customers. After implementing color selection,
we learned how to manage logistics when
inventory sites were spread over multiple
locations. Lastly, we have truly learned the
importance of positive customers reviews
because they lead to future sales.
Future Potential
MOAR lanyards has future potential because
masks have proven to be an effective way to
reduce the transmission of air borne particles.
While a vaccine is available, not everyone wants
it, it is not yet available for children, and it only
protects against current variants. European
countries and regions of the United States
continue to struggle with outbreaks which will
likely continue the mandate of masks on public
transportation such as air travel. Therefore, we
intend to continue promoting mask-wearing as a
way to prevent the spread of germs and
inhalation of pollution and pollen.
WHERE DO ALL THE LOST
MASKS GO?
WITH MOAR YOU'LL
NEVER NEED TO WONDER
8
You can also read
