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ENT 422: Fall 2010 Generating and Screening Entrepreneurial Ideas

ENT 422: Fall 2010 Generating and Screening Entrepreneurial Ideas. Kristin Boyd Ajai Hari Seth Hauben Kush Patel. Agenda. Team and Creed Semi-Final Ideas Vendi Cab Investigational Highlights Everywhere Heels Investigational Highlights Ideas Pros/Cons Next Steps. Team Creed.

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ENT 422: Fall 2010 Generating and Screening Entrepreneurial Ideas

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  1. ENT 422: Fall 2010 Generating and Screening Entrepreneurial Ideas Kristin Boyd Ajai HariSeth Hauben Kush Patel

  2. Agenda • Team and Creed • Semi-Final Ideas • Vendi Cab • Investigational Highlights • Everywhere Heels • Investigational Highlights • Ideas Pros/Cons • Next Steps ENT 422 – Idea Thickening

  3. Team Creed • “We see tremendous opportunity in converting the way things are currently done in everyday life and making convenient improvements that help us generate significant business revenues.” • Ideas based on every day problems • Scalable • Low tech • Rapid real growth potential and quick profitability Objectives ENT 422 – Idea Thickening

  4. Vendi Cab • Mini vending machine (5 items) in taxis in major metropolitan area • Predictable needs of taxi riders • Integrated with current point of sale system Everywhere Heels • Ladies shoes that take the pain out of high-heels • Collapsible heels • Eliminates the need for carrying extra shoes ENT 422 – Idea Thickening

  5. Vendi Cab • Products offered • Item of Substance – Cliff Bar • Gum – Stride Gum • Condoms – Trojan • Energy Drink – 5 hr. Energy • Medicine – Advil packs Product Sketch • Unit would fit in top left corner • To purchase item, select Vendi Cab button on screen • Product cost is added to the total fare • Advertisement space also available for sale ENT 422 – Idea Thickening

  6. Investigational Highlights – Resource Needs Vendi CabSupply Chain NYC Cab Company Inventory Transport Vendi Cab HQ Machine Installation NYC Cab Manufacturing Unit End Customer Raw Materials for manufacturing vending machines ENT 422 – Idea Thickening

  7. Investigational Highlights – Market Economics • 13,087 medallions • 241 million passengers ride taxis every year • Average -1.4 passenger per trip. • 18,415 fares per year per taxi; 51 passengers per day per car • Free vending machines and installation • 5% of the passengers make a purchase using Vendi Cab • 5% of sales revenue to cab company • Average profit margin of 26% from year 4 onwards Business Structure Assumptions ENT 422 – Idea Thickening

  8. Investigational Highlights – Resource Needs Facilities Cost Structure • $3166/mo., 2500 sq. ft. office space in Jersey City, NJ • Reception: 200 sq. ft. • Office Area: 400 sq. ft. • R&D Lab: 700 sq. ft. • General Storage: 1200 sq. ft. Equipment • Inventory transport: • Year 1: $20,000 • Year 3: $20,000 • Year 4: $40,000 Staffing • Sales/Business Development (Self) • Operation Management (Self) • Research and Development (3) • Manufacturer (Outsourced) • Machine Installation/Refill Crew (1) ENT 422 – Idea Thickening

  9. Investigational Highlights – Idea Financials Net/Cummulative Profit Break Even Note: All $ in millions ENT 422 – Idea Thickening

  10. Business Structure Assumptions ENT 422 – Idea Thickening

  11. Everywhere Heels Product Sketch Flexi-LockArch™ Click-Out Secure Expansion System™ ENT 422 – Idea Thickening

  12. Investigational Highlights – Resource Needs Everywhere Heels Supply Chain Everywhere Heels makes sales contracts with Retailers Raw Materials made into Everywhere Heels by Manufacturer Manufacturer to Drop Ship to Retailers Retailer Sells to Consumers ENT 422 – Idea Thickening

  13. Investigational Highlights – Market Economics • U.S. - 32% of the world footwear industry • Women’s footwear - 10% of the world market • Heels - 2.5% of world footwear market • Estimated shoes sold/per year - 621 million • U.S footwear revenue - $62.11 billion • Women’s footwear sold/year - 207 million • High heels sold/year in the US - $51.75 million • Potential share of Everywhere heels (0.3%) is approx. 155,250 pairs Business Structure Assumptions ENT 422 – Idea Thickening

  14. Investigational Highlights – Resource Needs Facilities Cost Structure • $2,000/mo., 2,500 sq. ft. office space in Rochester • Reception: 500 sq. ft. • Office Area: 1200 sq. ft. • Design Lab: 800 sq. ft. Equipment • Year 1: $10,000 • Computers: $4,000 • Design & Test Lab: $2,500 • Technology for collapsible heels: $3,500 Staffing • Sales/Business Development (Self) • Operation Management (Self) • Designers/Lab technicians (3) • Administrative Assistant (1) • Fashion expert/consultant (Fixed Budget Contract) • Manufacturer (Outsourced) • Drop Shipment (Outsourced) ENT 422 – Idea Thickening

  15. Investigational Highlights – Idea Financials Net/Cummulative Profit Break Even Note: All $ in millions ENT 422 – Idea Thickening

  16. ENT 422 – Idea Thickening

  17. Idea Pros/Cons • Product: • Unique and concise • Protectable • Market: • Large market share • Clear value and growth potential • Short sales cycle • Team: • Blend perfectly with team creed • Full team assembled internally • Members already committed • Business: • Large margins • Low initial investment • Product: • New product risk • Market: • New market risk • Business: • Concept to Market’ lead time ENT 422 – Idea Thickening

  18. Next Steps Technology Investigation Licensing/Patents Product Development Product Testing & Validation ENT 422 – Idea Thickening

  19. Questions? ENT 422 – Idea Thickening

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