Transcript Slide 1

Name: Kianda Hicks
Grade: 11
Age: 17
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Mission Statement
MYSecret’s mission is to keep your secret about any issue,
problem, disability, or disorder that you want to hide, or
haven’t come to terms with, by creating products that will fix
and tend to your special needs.
My Opportunity
 There are 1,174 dyslexic people in Hartford
 Most people buy new eyeglasses once a year
 Unassisted market due to small population & lack of
understanding (5 out of every 100 receive help or
assistance.)
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Service
 Creating unique product
 According to personal style & issue
 Keep your secret
Sole Proprietorship
 Full control
 No consultations before making decisions
 Least expensive option for business ownership
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 I have completed a Marketing/Entrepreneurship course
 I understand people’s need to have privacy about personal issues
 Ability to come up with innovative ideas/product
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Market Analysis
Industry Name
Optical Manufacturing
Industry Size
$20,726,900.00
Total Population
Harford, Connecticut
1,188,841
Target Market
Potential Market
Size
School-aged children, and
teens with dyslexia, in Hartford,
CT both male and female with
an average household income
of about $29, 798
Based on research I found that
people’s glasses usually last for
a year before they purchase a
new pair. This means that my
sales will be fairly predictable
Population of Hartford, CT
1,174
Visually Dyslexic people in
Hartford, CT
235
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By Location
 Hartford, CT
By Population
 School-aged boys and girls with Visual Dyslexia
By Personality/Behavior
 Lack of confidence
 Low self esteem
 Yearning for learning
By Income
 Average household income of $29,798
 Medium income levels
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Factors
See Right
Rad Prisms
MYSecret
Quality of
Product//Service
Poor
Very Good
Excellent
Price
$250+
$179
$150
Location
Online
Kentucky
Hartford, CT
Brand/Reputation
Bad
Well Known
Very Good
Unique Knowledge
Research
Shape
Tint
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People
The Visually
Dyslexic
Price
Promotion
$150.00
Website, word of
mouth, flyers,
business cards.
Marketing
Mix
Place
Product
Hartford, CT
Invisibly tinted
eyeglasses
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Awareness
Purchase
Retention
Current & Short Term (1 month -6 months)
Through my website,
word of mouth, flyers,
business cards.
Do demonstrations to
explain how the
eyeglasses work.
Excellent customer
service. Get customers
to spread the word.
Personal relationship
Long Term ( 6 months-1 year)
Commercials
Monthly cost,
by phase:
$5.00
Awareness
Same
Free shipping for customers
$20.00
Purchase
$0.00
Retention
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Definition of One Unit
One pair of Invisibly Tinted Eyeglasses
Cost of Sales Per Unit
Direct Labor
(Labor Cost per Hour)
$ 8.25
Material Description
Prescription eyeglasses
Glasses case
Time (in hours) to make 1
unit
25 min. or .416 hr.
$3.43
Total Direct Labor Per Unit
$3.43
Cost/Total Quantity
31.99/1
4.25/1
Total Material Cost Per Unit
Total Other Variable Costs Per Unit (shipping, packaging)
Cost of Sales Per Unit
Direct Labor Cost Per Unit
Cost Per Unit ($)
$31.99
$4.25
$36.24
$7.94
$47.61
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Definition of One Unit: One pair of Invisibly Tinted Eyeglasses
Selling Price per Unit
$150.00
Direct Labor per Unit
$3.43
Materials per Unit
$36.24
Total COGS per Unit
$39.67
Total Other Variable Costs per Unit
(outgoing shipping, packaging)
Total Cost of Sales
Contribution Margin
$7.94
$47.61
$102.39
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Type of Fixed Cost
Monthly Cost
Entrepreneurial Stipend
$72.00
Advertising (business cards)
$20.00
Depreciation (laptop, business cell phone)
Utilities (internet, phone, etc)
Rent (Home)
Total Monthly Fixed Costs
$23.61
$100.00
$75.00
$290.61
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Column1
School Hours, 45
Work Hours, 24
Business , 43
Free time , 56
Business Schedule for a Typical Week (168 hours)
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Break-Even
Units
3
Units Sold
60
50
40
Total Units
30
20
235
10
0
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Full Capacity
600
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Selling Price Per Unit
# of Units Sold
Total Sales
$150.00
235
$35,250.00
Total COGS
$9,322.45
Other Variable Costs
$1,865.90
Total Variable Costs
$11,188.35
Gross Profit
$24,061.65
USAIIRD
Other
Costs/Unforeseen
Total Fixed Costs
Profit before Taxes
Less Estimated Taxes
Net Profit
$3,487.32
$1,000.00
$4,487.32
$19,574.33
$4,893.58
$14,680.75
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Start-up Investment
Item
Where I will buy this?
Cost of Item
Lens tint kit
www.amazon.com
$9.62
Prescription eye glasses
www.amazon.com
$31.99
Glasses case
www.myeyeglasscase.com
Business cards
$4.25
www.123print.com
$20.00
CASH RESERVE
$871.83
Estimated TOTAL START-UP INVESTMENT
$937.49
96 hrs
x
$8.25
=
$792.00
Total: $1,729.49
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…on Investment
Annual Net Profit
Start-Up Inv.
=
$14,680.75
$1,729.49
…on Sales
Annual Net Profit
Total Sales
=
848.8%
$8.49
41.6%
$14,680.75
$0.42
$35,250.00
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Source
Amount
Personal
Savings
$1,000.45
Relatives/
Friends
$729.00
Debt
Equity
Gift
X
X
Totals:
$ 1,729.45
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
4 percent of my net profit will go to the Dyslexic Foundation of
Memphis

I will make people and potential customers aware of this by
placing it on my website and my business cards
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Long Term
Short Term
Business

Create a website that takes credit cards

Better define my business

Expand by selling and creating products
for people all sorts of special needs..

Begin to develop next product
Educational

Continue to take AP and Honors
classes and graduate with honors

Continue to study Business

Earn a degree in Business

Expand my knowledge of product
development
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Your secret’s safe with us!
Thank you for your consideration of
MYSecret
Visit us at …
www.MYSecret.weebly .com
MYSecret contacts next year!
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