adam kint - reviewit
DESCRIPTION
ChiTech 2013-14 Business PlanTRANSCRIPT
By: Adam Kint
Have you ever had a Problem Choosing a Product?
V.S =
Solution
+ =
•Never regret a purchase again
•Compare products side by side to find the right one
•Find the cheapest product around your area
How does it work?
1. Find a product
2. Scan it
3. Make an informed purchase
Review IT
• If you are having trouble picking out a product, or even just wanting to learn about one, then just scan the barcode, and BAM!, all of your problems are solved
Business Model
Adam will sell 1 appand receive $0.91 foreach app sold. Economics of One Unit
Selling Price $2.00 Cost of materials N/A Cost of labor $0.50 Other variable costs $0.59Total COGS/ COSS $1.09Contribution Margin $0.91
Definition of One Unit1 app
Monthly Break Even Units$134.91
= 149.9 ≈ 150 units$0.91
Market Analysis
Description of Target ConsumerDemographics Geographics
Any person from 17-45, and an income of $25,000+ per year
City of Chicago
Psychographics Buying Patterns
•Are interested in new products•Likes to shop
•Would like to know more about products (40 million customers like to showroom products)•Impulse buyers
Total population of targeted geographic area
Population of target market
2,659,598
Market size(based on
survey)
Target Market Size
Market Statistics
Industry Name: Consumer Services Market Cap: 3.1 billion
1,969,234
921,291
Promotion and Sales
• Have a website• Earn points • Host scavenger hunts• Donate to charity • Customer of the month
Competition
Direct• There are several
shopping apps on Google play
Indirect• Shopping website
that give help to shoppers
Why Review IT?1. You can compare items side
by side2. Find the cheapest products in
your area3. Gives products similar to the
ones you scanned4. Accurate reviews
Qualifications• Enrolled in a NFTE
entrepreneurship class, and is also in Chi-Tech Launch
• Received a 50 for the Future award
• Has very good leadership skills and makes good decisions
• Knows HTML, CSS, and JavaScript
Sales Projections
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec0
50100150200250300350400
Units Sold
Units Sold
Total Units3,804
Gross Revenue$7,608.00
Net Profit$1,533.98
Startup Funds
Item Why Needed CostComputer To write the code and run
the software to create the app
$1000
Marmalade To make the actual app work
$149
Total Startup Expenditures $1,149Emergency Fund $574.50Reserve for Fixed Expenses $404.73Total Startup Investment $2,128.23
How to Scale Review IT
• Review IT will partner with stores to promote their products, and they will promote Review IT
The App