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) -NAME/ catchy slogan -Mission statement (we need to help kids, and we can do anything!) -list of services offered -prices -recommendations -bios with pictures (experiences) -short commercial (posted on our website) Start-up costs: -any prep books need (for us) -paying for advertisement (in paper/taped around elementary schools) Possible service list: -tutoring: - Elementary and middle school math, English, science -SHSAT prep -SAT prep -beginner/intermediate French -High school Chemistry, Physics, English, Geometry, US History, Global History, Pre Calculus/Calculus AB, Algebra -Babysitting -fashion consultation for your challenged adolescent boys (no offense) -grocery/clothing shopping (just give us your list!) (and you money!) 1. Why did you choose this product/service/cause? (refer to question 1, letter D.) 2. What market are you trying to influence with your advertisement (i.e., children, teens, adults—what age/gender/income level)? While our services are aimed at kids in need of tutoring or babysitting, our market is really their parents. We have tried to design advertisements that have an uplifting feel (hence our service’s name, ELEVATE) that are clever (to show how smart we are!) and simple (to get our message across promptly). We are really aiming our program at parents because students are far less likely to enroll themselves in a tutoring or test prep program willingly. Also, the age group of kids that is in demand of babysitting rarely has the capacity to search for their own babysitters. We have decided to print lots of flyers and business cards on which we can print our website for further information. 3. How did your group come to a decision about your product/service’s price?
Babysitting flyers could definitely have a lot of exposure in apartment buildings.) Flyers and business cards seem to be the most logical solution for advertisement. Bulletin boards are found in schools and are noticeable to parents who visit their children’s schools on Parent Teacher Conference day. and our website. and a few posts on facebook or group e-mails could reach many NYC parents. have heard of. newspapers. but eventually we might graduate to school newsletter or newspaper ads. . we based the prices we chose on programs we know of. because usually kids our age don’t bother spending the money for a few babysitting gigs. We will start simply with business cards. We don’t want to creep people out. What type of media (television. no matter its quality. 5. Business cards are helpful because they can be passed out easily and casually. We also decided that a parent will be likely to spend a little bit more on a babysitting service for their child if the service is as legitimate as we plan to make ELEVATE (with a website and everything!).) do you feel would be most successful in advertising your product/service/campaign? Why? (Note: The answer to this does not have to be the same as the type of advertisement your group has chosen to create. Our website is another great promotional vehicle because so many things are done on the internet today. Do you feel advertising is a positive or negative aspect of our society? Defend your position. As for tutoring/test prep. Schools seem like prime location for tutoring/test prep flyers. magazines. Depends on the product. 4. parents don’t expect to see ads for babysitting on a television commercial or in a magazine. flyers. Feeds into the whole corporatocracy concept that controls our society today. Often very negative. so we’re avoiding that sort of media. Teachers who like us could hand them out to their students if they were in need of some extra help. Brainwashing people to believe that they will be made better if they spend money on a good or service. or have personally encountered. Those who are able to advertise for a large audience are then able to sell their product. Also. which is often where babysitters advertise anyways. radio.We all have experience babysitting and know the general pricing of New York City babysitters. Business cards give us an edge over other babysitters. etc.
Also. and even elementary school. like the red cross babysitting certification. However. the market is huge. Therefore. our individual academic accomplishments.1. What will your business do? Where is it located? Who will it serve? Our Philosophy We are dedicated to helping students with homework. and as it becomes increasingly difficult to get into college. There is a fair amount of competition in our market. there are no permits. tutors are in high demand today. Describe your market and competition. Babysitters are always needed. middle school. licenses or other regulations? Our market includes parents or guardians in need of tutors (for children in grades kindergarten to 11th grade) and/or babysitters. high school. and relatively low prices hopefully put us ahead of our competition. Describe your company’s philosophy and goals. prior teaching experiences. There are tons of babysitters both in high school and college who are looking to make some easy money. Business: ELEVATE Logo: The Limit Does Not Exist B. C. would most likely help increase our demand (and one member of our staff already has obtained this). START YOUR OWN BUSINESS! A. we have clients already for both babysitting and tutoring which gives us a jumpstart. However. and anything else school-related. licenses or regulations necessary for our company. Are there barriers to entry like permits. Lastly. Name your business. specific licenses. we will make use of public transportation and public spaces for meetings. We believe in positive reinforcement and getting kids excited about their work so that they are motivated to focus in school. Identify the company’s logo or slogan. test prep. Coming from a performing . Establish your product or service. There are several tutoring centers and companies in the city. Because our company is based in NYC.
LaGuardia Arts high school.arts school. $20 for college test prep. middle. Clients will never have trouble getting a babysitter at peculiar hours and will only have to ask once. We also decided on ELEVATE because it costs almost nothing to provide the services we offer. and travel. It is hard to collect credentials when we haven’t had any clients yet. Once a few people become interested and begin using our services. Why did you choose this business? What are some of the issues you will face in establishing this business? We’re making use of our own talents and abilities. D. clean. or their houses. we are a group of friendly teenage girls who are good with kids and have a lot of experience as babysitters! We are all willing to cook. In order to expand profit possibilities. even those that require diaper changing! As for test prep. Two of our staff members are headed to Harvard. As we have an entire staff. We baby-sit all ages. Our tutoring program will be not bound to any one location: we are flexible to meet students in coffee shops. As for babysitting. we offer both individual and group sessions. $15 for academic tutoring. We come from an esteemed and widely known high school in New York City and each have impressive grade point averages to qualify us. we decided to add babysitting to the equation (as that is a service we’re all capable of as well). We could make a whole lot of money! The issues we may face include getting our company to take off. and that sort of name is very appealing to parents who want their children to have a successful academic career. namely our skills in understanding academic material and translating that to someone who might have a harder time grasping concepts initially. Our sessions range from half an hour to 2 hours. we have many hours between us that are available for services. and high school curriculums. We can work with kids of all ages: we are well versed in elementary. we can have client testimonials and referrals on our . Rates vary depending on service: $12 for babysitting. depending on the student’s need. libraries. we’re especially versed in creative approaches to academia.
Brooklyn. By starting our own company. construction. the advertisement cost is more or less covered. especially in the test prep category (which will be measurable once kids are successful on their tests).00 for purchasing tutoring prep books and other brush up materials and tips for ourselves. We’ll become even more notable once people spread information about us via word-of-mouth.00 X 3 = . once our business has taken off. so we’re almost covered in terms of representation in the 5 boroughs. 2. $500. There is no middleman/no overseer that will get a percentage.website. 100% of the money that does not go to buying prep books or paying for public transportation will be split appropriately between the three person staff. partnerships. we would not want to turn them down. So. All business must prepare a startup plan. despite how inconvenient such a commute might be. Your business report should include the following: A. if a person from Queens asked us to come to their house for a late-night babysitting job. Another issue could potentially be that of excessive travel time. What are the advantages and disadvantages of opening your business rather than some other form such as sole proprietorship. We currently have staff members who live in Manhattan. such as fees. we would have a staff member stationed in each borough to minimize travel time and increase flexibility of our services. E. or corporations? Our business has basically no start-up costs. This report should include ideas or concepts about the business.000. as well as projected costs and financing issues. Ideally. Advertisements: 500 printed fliers = $145 Business cards for each staff member: 250 for $20. equipment. and Staten Island. THE BUSINESS REPORT. there would be no reason to form a partnership or go in with a corporation. because we are just starting out. However. All we really need to pay for is advertisement. Start-Up Costs. and with our rich uncle Seymour and his $30. supplies. etc.
prep (20 X 6) 2 hrs. Projected Monthly Profit $1996 -. NA C. tutoring(15 X 12) 12 hrs.$312 = 1684 $3992 -. Test Prep = $20/hr. such as bank loans. such as rent.$312 = 3680 . subject test prep (17 X 4) 2 hr. supplies.00 B. savings. Projected Monthly Sales Babysitting = $12/hr Academic Tutoring = $15/hr. babysitting (12 X 30) TOTAL WEEK: $998 TOTAL MONTH: $3992 Projected Monthly Sales = $1996 . sales: 6 hrs.$60. Suggested Financing. Projected Monthly Costs. loan repayment. subject test prep (17 X 2) 1 hr. possibly benefits). Min. etc. etc. babysitting (12 X 15) TOTAL WEEK: $499 TOTAL MONTH: $1996 Max. Group prep session = $75/hr.$3992 Minimum: E. labor (wages. tutoring: (15 X 6) 6 hrs. group SAT prep (75 X 1) 15 hrs. prep (20 X 12) 4 hrs. 3 unlimited metrocards per month ($104 each) = $312 D. group SAT prep (75 X 2) 30 hrs. SAT Subject test prep = $17/hr. sales: 12 hrs.
How would you save and invest your money? Skim through Chapter 9 for some ideas. Additionally.Between $1684 and $3680 monthly. we can decide to make use of more promotional advertising that would cost more money. Those decisions would be made individually and after about a year of successful business. G. . like posts in newspapers or school newsletters. once we have launched our business. so that we can have the most effective and recent material to work with. F. What additional costs might your business face? It would be smart to update our test books after a year of the run of ELEVATE. This means an additional $500 or so per year.
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