Transcript [Name of Business]

Peerless Jewels
Unique Handcrafted Jewelry
Jasmina Uvalic
Grade: 11th
Age: 17
Business Profile
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
My business is called Peerless Jewels and it consists of
customized jewelry making which varies by each customers
taste and request.
Type of Business:
 Retail
Legal Structure:
 Sole proprietorship
 I want to be my own boss and manage my business on
my own
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Opportunity
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
Define opportunity
 There are no jewelry places around community
 I am making customized jewelry to satisfy each
customer individually
Qualifications
 Have taken a Marketing 1 and Entrepreneurship Class
 Work in retail
 Have sold jewelry before and was very successful
 Placed 1st in the first round of Business Plan
competition
2
Consumer Profile
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By Location
 Hartford and surrounding towns
By Population
 Females in general, no particular
age
By Personality
 Girls and women that like to
accessorize.
By Behavior
 People that are continuously trying
to keep up with fashion and jewelry
trends, in order to improve their
look and fashion lifestyle.
3
Competition
Competitor Price Quality Greatest
Strength
Greatest
Weakness
Mishy & Davids
$4.50
Poor
Low costs
Factory made
Claire's
$6.50
Good
Variety of choices
Factory made
Sify Online Mall
$5.97
Good
Decent Pricing
Inconvenient if
customer wants
to return product
Competitive Advantage
• Affordable high quality products
• Unique and customized designs
4
Marketing Mix

Price:

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Place

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I choose to sell all over Connecticut by using a website
Product:
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My price is very fitting for the quality of my jewelry
Handcrafted and customized to your taste
Promotion:

I will use business cards, websites and brochures to
promote my jewelry
5
Marketing Plan
Phase
Awareness
Purchase
Retention
Method
Description
Cost
Ask small business
owners to help me
promote my business by
telling people about me
and giving out my
business cards.
The cost would
be $.03 per
business card.
Using logos about the
donation that I am
making to support the
National Foundation
for Cancer Research
On every plastic bag I will
have a ribbon stating
that I am helping others
with my business.
It will cost me
.05 cents to
put one label
on the ribbon.
I will have special
discounts for regular
customers that
recommend people to
buy products from me.
The people that are
willing to give their email
so they are informed
about special discounts,
and new products.
The cost varies
from discount
to discount.
Websites, Brochures,
Business Cards, and
word by mouth.
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Cost of Materials/Direct Labor
Definition of One Unit
Bracelet
Cost of Sales Per Unit
Direct Labor
(Labor Cost per Hour)
Time (in hours) to make
1 unit
$7.65
5 minutes or .08
Direct Labor Cost Per
Unit
$0.61
$0.61
Total Direct Labor Per Unit
Material Description
Cost/Total Quantity
Beads
$12.99 / 3000
$.01 x12 = $0.12
Elastic Thread
$2.49 / 197 in
$.01 x 6 in= $0.06
$5.00 / 100 units
$.01 x 1
= $0.01
$.01 x 1
= $0.01
Pretty bag
Ribbon
4 in.= $.01
Cost Per Unit ($)
Total Material Cost Per Unit
$0.20
Variable Costs Per Unit
$0.00
Cost of Sales Per Unit
$0.81
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Economics of 1 Unit
Definition of One Unit
Bracelet
Selling Price per Unit
$ 5.00
Direct Labor Per Unit
$ 0.61
Materials Per Unit
$ 0.20
Total COGS Per Unit
$ 0.81
Variable Costs
$ 0.00
Total Cost of Sales
$ 0.81
Gross Profit Per Unit
$ 4.19
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Time Management Plan
Business Schedule for a Typical Week
Entrepreneurship
33
School Hours
30
Work Hours
0
Sleep
70
Free-Time Hours
35
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Average Monthly Fixed Costs
Type of Fixed Cost
Monthly Cost
utilities
(telephone, internet connection)
$
19.99
advertising
( flyers, business cards, radio commercials)
$
10.00
insurance
( 1 million $600/yr= $50/month
$
50.00
rent
(electricity + heat)
$
15.00
Depreciation
(light bulb / yr)
Total Monthly Fixed Costs
$
$
7.00
101.99
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Monthly Sales Projections
Month
Units Sold
January
720
February
960
March
720
April
720
May
720
June
840
July
840
August
720
September
720
October
720
November
720
December
1000
Total = 9400
Monthly BreakEven Units
24 units
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Projected Yearly Income Statement
Selling Price Per Unit
$ 5.00
# of Units Sold
9,400
Total Sales
Total COGS
$ 47,000.00
$ 7,614.00
Other Variable Costs
$ 0.00
Total Variable Costs
$ 7,614.00
Gross Profit
USAIIRD
Other Costs/Unforeseen
$ 39,386.00
$ 1,223.88
$ 600.00
Total Fixed Costs
$ 1,823.88
Profit before Taxes
$37,562.12
Less Estimated Taxes @25%
$ 9,390.53
Net Profit
$ 28,171.59
14
Start Up Investment
Entrepreneurial hours
needed for start-up
Wage I pay myself
Total start-up
time investment
6
$ 7.65
Item
Where I will buy this?
Bag of Beads
Joann's
$ 12.99
Elastic Cord
Joann’s
$ 2.49
Plastic bags
Joann’s
$ 10.99
Ribbon
Joann’s
$ 9.99
$ 45.90
Cost of Item
CASH RESERVE covering 3 months of fixed costs
$ 305.97
Estimated TOTAL START-UP INVESTMENT
$ 388.33
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Return On Investment
Return on Investment (ROI)
28,171.59/388.33 x 100
7254%
For every $1 dollar invested,
my business earned :
$72.54
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Social Responsibility Plan
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
Peerless Jewels will give 6% of its yearly net profit
to the National Foundation for Cancer research
every year.
I am letting people know that 6% of my profits will
go the National Foundation for Cancer Research
by including small labels on the bags that I will be
selling my products in.
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Business and Educational Goals
o Education
o Business
- Keystone or better on
the jewelry that I sell
by the end of my
junior year.
- Open my own
jewelry/accessory
retail store after
-
Get an A in pre calculus by
the end of my junior year.
- Maintain an A in my college
years, and become a
successful dentist.
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When second best isn’t good enough
Thank you for your
consideration of
Peerless Jewels
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