Retro
Transcript: DATE RETRO: CHANGE IT! EXECUTIVE SUMMARY EXECUTIVE SUMMARY Our company is called Retro and our product is called Change it!. “The purpose of our company is for our consumers to be able to change the color and/or alter the design of their clothes from just a tap from their phone.” "Stop. Drop. Change it!" COMPANY DESCRIPTION COMPANY DESCRIPTION The goal of Change it! is for the consumer to be able to change the color of their clothing by connecting a clip (which we provide) to a piece of clothing which connects to our app Retro by blue-tooth connection. TEAM TEAM Our team is made up of Sarah, Nolan, Fatima, and Noami. Without everyone hard work this project would not have pulled through. CUSTOMERS CUSTOMERS The consumers would be forced to buy the t-shirts, pants/skirts, shoes, etc. due to the technology and data stored in the shirt. This would ultimately force major companies to partner up with us so we could install our technology in there clothing. Also we plan to only limiting the color selection to 25 colors when they download the app for free. If the costumer wants a new color in there collection on the app they have to pay 0.10 cents for every new color they want to purchase. That means that even when the customer has finished purchasing the item, we are still getting money from them. Also we have a great customer service team which will help customers who have a difficulty with the product. MARKET ANALYSIS MARKET ANALYSIS I would sell the product for 25 dollars, I estimate at first that our product will struggle, but as time goes on major companies will come by and be interested in our company’s technology. During our first few months as our company will be gaining popularity so profits will slowly increase, but by month six we expect our product to be in almost every household. We estimate about at least 3 to 5 million consumers, due to this being the only technology of its kind on the market. Our main target consumers are basically everyone, because everyone has clothes therefore they are all capable of changing the color. Plus this products technology is advanced yet so cheap, so its . COMPETITIVE ANALYSIS Economical Quality We have no compition and intend for there to be none because we keep the structure of our technology a secret. In other means we are the only technology of it's kind. ORGANIZATION ORGANIZATION We expect our profits to surpass 50 million dollars. Our plan is to target United States, Europe, and Asia (places where fashion and design matter. We are targetting the age group of 8 to 35, but in reality this product can be used by everyone. This product is for both men and women. It’s for almost every income and social class, and very cheap and affordable. FINANCIAL FINANCIAL Office Space/ Warehouse/Factory rental? We use 5,000 dollars a month on a warehouse we are renting, and use 2,000 dollars for rented office space. Utility Costs(Electricity/Water)- Electricity is 1,500 dollars, water is 1000 dollars Product Costs- Our clip is 35 dollars and comes with a selection of 25 colors, and if you want a new color you have to purchase it on our app for .14 cents for every new color you want. Labor- Our labor would end up costing around 6,000 dollars a month. Advertising- Would be commercials on youtube, and spread of the word by mouth. FUNDING REQUEST FUNDING REQUEST We will need $10,000,000 over 4 years
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