Matching Items (6)
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- All Subjects: Business Plans
- All Subjects: Product Development
- Creators: Trujillo, Rhett
DescriptionI made a full business plan and pitch to investors for a company I plan on starting next semester.
ContributorsOramas, Michael (Author) / Trujillo, Rhett (Thesis director) / Naumann, Gary (Committee member) / Department of Finance (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
The focus of this project is developing a business plan for faith-based counseling for college students. Renewed Living Counseling Center (RLCC) is a faith-based counseling center in the Tempe area serving Arizona State University students. RLCC strives to bring healing and wholeness to each student who comes through the doors, to empower them to realize and live out their potential, by providing them with the skills to accomplish their dreams and live full lives, through counseling, motivation, education, and treating studentʼs behaviors to become whole and successful. Research indicates that the proposed center, Renewed Living Counseling Center (RLCC), has great potential for success because:
1. Spirituality and faith are increasingly recognized as important aspects in a personʼs life. National research shows that 66% of people feel counseling should include spirituality. Research with ASU students found that students reflect this statistic, as they feel spirituality is an important part of counseling. Students also feel spirituality is appropriate to include as part of counseling services offered by centers referred to by ASU.
2. There is a need for counseling at ASU. Nationally,approximately1,100 college students commit suicide each year. At ASU, almost one-third of students reported feeling so depressed that it is difficult to function, and 0.9% report having attempted suicide within the past year.
3. Surveys of ASU students indicate that students who describe themselves as being religious are more desirous that counseling include a spiritual dimension. Surveys of campus pastors indicate that over 80% believe there is a need for faith-based counseling and would refer students to a local center.
4. Price is an issue. Indeed, a survey of campus pastors indicated that they believed cost of counseling to be one of the primary deterrents to students seeking help. One way to control costs is to use a mixture of residents and licensed counselors. As in medicine, students must complete coursework along with a period of residency or internship to obtain licensing. Both religious and secular masters programs in counseling exist in the greater Phoenix area. Thus, there is a potential supply of students who could work as residents, permitting RLCC to offer counseling services at reasonable prices.
1. Spirituality and faith are increasingly recognized as important aspects in a personʼs life. National research shows that 66% of people feel counseling should include spirituality. Research with ASU students found that students reflect this statistic, as they feel spirituality is an important part of counseling. Students also feel spirituality is appropriate to include as part of counseling services offered by centers referred to by ASU.
2. There is a need for counseling at ASU. Nationally,approximately1,100 college students commit suicide each year. At ASU, almost one-third of students reported feeling so depressed that it is difficult to function, and 0.9% report having attempted suicide within the past year.
3. Surveys of ASU students indicate that students who describe themselves as being religious are more desirous that counseling include a spiritual dimension. Surveys of campus pastors indicate that over 80% believe there is a need for faith-based counseling and would refer students to a local center.
4. Price is an issue. Indeed, a survey of campus pastors indicated that they believed cost of counseling to be one of the primary deterrents to students seeking help. One way to control costs is to use a mixture of residents and licensed counselors. As in medicine, students must complete coursework along with a period of residency or internship to obtain licensing. Both religious and secular masters programs in counseling exist in the greater Phoenix area. Thus, there is a potential supply of students who could work as residents, permitting RLCC to offer counseling services at reasonable prices.
ContributorsMatthews, Rachel Leigh (Author) / Steinbart, Paul (Thesis director) / Chung, Sally (Committee member) / Sanders, Ben (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor)
Created2014-05
Description
The following business plan will delve into the financial feasibility of a business venture into niche pet product markets: more specifically, the market for pet products both sourced and made in the USA, which is a distinction also discussed in the body of the paper. The paper begins by detailing the anecdote that brought about the vision for the company and then segues into a description of the products that will be carried by the company. These include pet toys, beds, leashes, vitamins, soaps, treats and more, which is followed by a list of potential product suppliers who have all already expressed interest in the venture. The plan then discusses the possibility of expanding into markets abroad such as China and the feasibility of carrying products outside of those strictly for dogs and cats. An in-depth market analysis includes a series of statistics reinforcing the potential profitability of the business, including the fact that a recent study has found that 81 percent of pet owners consider their dogs to be "bonda fide family members" and that online spending on pet supplies increased 67 percent between July 2015 and July 2016. It also includes the projection that the industry is intended to reach $91.72 billion in sales by 2019. The discussion then transitions into the company's target market, which, at the most specific level, will be white, married individuals age 55 to 64 living in rural areas with an annual household income of $125,000 or more. The plan then delves into a target market segment strategy, which addresses how marketing and business strategies will target certain demographics to appeal to them individually, whether it be through a "family-owned" impression or an appeal to their sense of patriotism or social consciousness. Next, the plan addresses potential competition within the pet product market, first discussing the super giants PetSmart and Petco and how these corporations hardly cater to this niche market and then smaller companies who do meet the same demand, such as myusapetsupplies.com, but fall short in terms of strategy and marketing. Marketing for the business venture will be almost entirely digital, ranging from pay-per-click services to mass newsletters and online social media contests and giveaways. The paper then transitions to location, facilities, shipping, and licensing, discussing the layout, which will be in a residential garage that meets all city regulations. A best-in class e-commerce experience is vital to the success of the business. By optimizing our e-commerce platform and search marketing, we can level the playing field and standout from our competition. Therefore, Shopify will be used as the content management system and the domain name "petsuppliesusa.com" has been selected. Three potential logo designs and reasoning for each are examined. Next, the plan discusses the company and management, stating that decision making will lie in the hands of the founders even after a larger employee pool is hired and a flatter structure is employed. Lastly, the plan lists a pro forma for the business and a projection that the first year will reap final profit of $125,000 at the end of the first year of operation.
ContributorsGish, James (Author) / Trujillo, Rhett (Thesis director) / Gray, Nancy (Committee member) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
During the Innovation Space program, my team and I (which included graphic design, industrial design, engineering, and business majors) created a product that solves a problem posed by our sponsor Johnson & Johnson. This year long project involved researching biological aggressors, specifically mosquitoes, brainstorming over sixty ideas, developing a business plan for the final 3 ideas ("ago", "WANDELAR", & "FIL"), and eventually pursing and finalizing the final idea chosen. We chose to further develop "ago", a stroller seat insert that creates an air barrier between the child in the seat and any insects flying nearby. This portable seat fits in most strollers and also cools the child's back so they don't overheat while outside. The team created a design book, design model, and prototype of "ago" including the seat, fan, and hose. As the business member of the group, I developed three business plans, a final business plan, and conducted primary research by surveying our target market, parents. This business plan included customer research and validation efforts, cost structure, entry market, competition, and other crucial information required to sell "ago". Along with the final presentation of our product to our sponsors, I also completed a reflection paper about my experience working on an interdisciplinary team and the similarities and differences I found the Innovation Space program has to a real world product development team. I also included how my experience in Barrett and W.P. Carey contributed to my success in the program as well as any personal takeaways I had from the program.
ContributorsRefermat, Jocelyn Rae (Author) / Trujillo, Rhett (Thesis director) / Montoya, Tara (Committee member) / Department of Psychology (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Innovation Space is Arizona State University’s capstone style project in which upper division students gain real experience in the startup and product development world by solving real-world problems. These problems were presented to my team by sponsor; LG Electronics. Innovation Space uniquely offered an interdisciplinary glance into “real life” in the months before college graduation. Students are placed on teams with designers, engineers, sustainability majors, and business majors to better reflect the real world. As a business student of this program, I was able to gain and share knowledge from my teammates’ distinct backgrounds; as well as gain the interdisciplinary experience that is key to a college education, specifically to a business student. LG Electronics, our sponsor, brought our team the task of expanding their product line in their “wind comfort” business unit. LG Electronics has created a lighter, more efficient motor for a fan; likely as an answer to their dominating fan competitor, Dyson. LG Electronics wanted to see what our team could do to alter the way people cool their homes, and we responded with three original ideas: a modular, non-centralized A/C unit; a hands-free hair dryer; and a portable 360 degree fan. Our team developed the latter product, and named it Torus. The product was developed over the course of August 2018 to May 2019, ending in a working prototype formally presented to the sponsor and industry professionals. On top of this project, I was directed to also analyze the Innovation Space program for its benefits and drawbacks to a business degree from the W.P. Carey School of Business.
ContributorsSkogebo, Hannah Michelle (Author) / Trujillo, Rhett (Thesis director) / Hedges, Craig (Committee member) / Department of Information Systems (Contributor) / School of International Letters and Cultures (Contributor) / Barrett, The Honors College (Contributor)
Created2019-12
Description
This project was completed as part of the InnovationSpace collaborative thesis, an entrepreneurial joint venture program that allows students to develop products that create market value while serving societal needs. This collaborative thesis was done in a team of students from various disciplines under the sponsorship of Cisco Systems, and the goal was to develop an assistive technology project for the disabled that incorporated the internet of things (IOT). This project was broken out into several different phases. Initially, the team came up with a variety of ideas based on our market research. We narrowed down the ideas to a list of three potential products and built a business model and prototype for each of them seen in phase 5. After reviewing them further, we ultimately selected the MecX, an assistive technology designed to increase physical activity for a disabled person. We built a working prototype for this product and created a full design with all stakeholders in mind. Once this was done, we ran surveys to test the feasibility of our product to its demographic. Finally, we presented this product to a panel of judges and sponsors.
The attached files show the business write-up from phases 5, 6, and 7 from the project followed by a personal reflection.
The attached files show the business write-up from phases 5, 6, and 7 from the project followed by a personal reflection.
ContributorsPorter, Oscar Garfield (Author) / Trujillo, Rhett (Thesis director) / Hedges, Craig (Committee member) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05