iToilet
Ally Atkeson, Daisy Joseph, Irina
Leonchik & Stefani Azar
Business Plan
Business Plan: To partner with Apple - one of the
largest and most successful companies in the technology
world. Our goal is for them to help us get our product
desired and distributed all across the world through
advertisements, word of mouth, and promoting it through
their website.
Type of Business
Type of Business: Partnership
We will be a partnership company so all of us have equal power
and say in our company, as well as our equal partnership with
Apple
Why a partnership?
We chose a partnership because we believe our product is a
need and will benefit from it. Having equality in ownership leaves
us with more time to improve and sell our product as opposed to
fighting over company issues of inequality
Market, Industry & Competition
Analysis
❖ Already existing competition:
Oligopoly (Kohler, Toto, Mansfield, American Standard
Companies)
❖ Needed to get started:
-Loans
-Employees
-Advertisement
Market, Industry & Competition
Analysis Continued
Why our product is the best in the market:
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Plays music
Warms seat
Charges phone
App to flush and control
Partnership with Apple
Amazing quality for an affordable price
Comes in many colors
Financing
Product price: $299.99
If product is in great demand, the price will increase.
Production cost: $100.99
Profit from each iToliet: $199.00
Short-term finances: Sponsors and people who are willing to invest money in
our business plan.
Intermediate-term financing: Taking out a small business loan ranging from
5K to 150K.
Long-term financing: The company Apple will be be able to loan us money if
needed.
Finances Needed to Start Business
Office Space: $5,000
Expenses: $5,000
Start up Expenses: $5,000
Employees: $15,000
Equipment/Supplies : $20,000
Production Materials: $25,000
Product Designer: $3,000
Additional/Promotion Expenses: $5,000
Total Cost : $ 83,000
Average Daily Revenue: $ 8,999.99 (Beginning amount).
Marketing, Advertising &
Product Distribution
❖ How will you reach your customers and your sales goal?
We will be test marketing, and want to make our product known all across the
world and in order to do so partnering with Apple would be our best shot in
getting our product out on the market. We also want to keep it at a price that
most people could afford.
❖ Marketing Mix
In order to advertise our product, we will collaborate with Apple for them to
include an advertisement on their website that has information all about the
iToilet. Another way we will advertise our product is through commercials on
television and through public channels to begin with. The last way we would
advertise is by flyer. By spreading flyers and handing them out to people, we
will get our product spread directly from person to person.
Marketing, Advertising &
Product Distribution Continued
❖ Product/Service
The iToilet will provide a convenient and useful way for people to charge their
phone and enjoy iTunes music at the same time. We want to ensure that our
customers have the best experience with our product. If they aren’t satisfied
with the product we will give them a full refund with no hassle. We will also offer
our services of installing the product in the consumers home.
❖ Price
Our product will cost $299.99 to start. Once demand increases we will raise the
price to $349.99. If demand doesn’t increase after 6 months, we will cut down
the price to $249.99. If the product still doesn’t have an increase in demand,
our back up plan is to sell 100% of our company to Apple with a $20.00 royalty
to us for each toilet sold.
Marketing, Advertising &
Product Distribution Continued
❖ Promotion(s)
Since our product is newly launching into the world of technology, especially
with one of the most popular technological producers, we will give a $25.00
discount to those who complete a customer service survey on Apple’s website
after they purchase the product. They just have to bring in their ticket of
authenticity that they print.
Operation
How we will be set up: our own store, Apple stores & online
through our store or Apple
Employees & Info: we will be ran by ourselves & our
partnership with Apple. We will also hire a manufacturer and
employees to work in our store. We will pay them more than
minimum and have competitive benefits. We will also manage all
of our own finances
Hours, etc: 24/7/365 online, in store Monday-Friday 9-6,
Saturday 8-10 and Sunday 10-6. We accept cash, check or card
Operation Continued
Pitfalls: The older population may not understand or
want this product, but we believe since we will be targeting
a younger market, that this product will succeed. If we do
face any pitfalls, we will have help from our partners, Apple.
What we are asking for:
We are asking for $100,000 in exchange for
10% of our company. We need this money in
order to expand and manufacture. Apple is nice
enough to help take care of our
advertisements.