ALL INCLUSIVE (dont get crazy) Components: -Website: (weebly?

) -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, adultswhat 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 services 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/services price?

We all have experience babysitting and know the general pricing of New York City babysitters. 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!). As for tutoring/test prep, we based the prices we chose on programs we know of, have heard of, or have personally encountered. 4. What type of media (television, radio, magazines, newspapers, etc.) 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.) 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 childrens schools on Parent Teacher Conference day. Schools seem like prime location for tutoring/test prep flyers. Business cards are helpful because they can be passed out easily and casually. Teachers who like us could hand them out to their students if they were in need of some extra help. Babysitting flyers could definitely have a lot of exposure in apartment buildings, which is often where babysitters advertise anyways. Business cards give us an edge over other babysitters, because usually kids our age dont bother spending the money for a few babysitting gigs. Our website is another great promotional vehicle because so many things are done on the internet today, and a few posts on facebook or group e-mails could reach many NYC parents. Also, parents dont expect to see ads for babysitting on a television commercial or in a magazine, so were avoiding that sort of media. We dont want to creep people out. We will start simply with business cards, flyers, and our website, but eventually we might graduate to school newsletter or newspaper ads. 5. Do you feel advertising is a positive or negative aspect of our society? Defend your position.

Depends on the product. Often very negative. Brainwashing people to believe that they will be made better if they spend money on a good or service. Feeds into the whole corporatocracy concept that controls our society today. Those who are able to advertise for a large audience are then able to sell their product, no matter its quality.

1. START YOUR OWN BUSINESS! A. Establish your product or service. Name your business. Identify the companys logo or slogan. Business: ELEVATE Logo: The Limit Does Not Exist B. Describe your market and competition. Are there barriers to entry like permits, 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. There is a fair amount of competition in our market. There are several tutoring centers and companies in the city. There are tons of babysitters both in high school and college who are looking to make some easy money. However, we have clients already for both babysitting and tutoring which gives us a jumpstart. Also, our individual academic accomplishments, prior teaching experiences, and relatively low prices hopefully put us ahead of our competition. Lastly, the market is huge. Babysitters are always needed, and as it becomes increasingly difficult to get into college, high school, middle school, and even elementary school, tutors are in high demand today. Because our company is based in NYC, we will make use of public transportation and public spaces for meetings. Therefore, there are no permits, licenses or regulations necessary for our company. However, specific licenses, like the red cross babysitting certification, would most likely help increase our demand (and one member of our staff already has obtained this). C. Describe your companys philosophy and goals. What will your business do? Where is it located? Who will it serve? Our Philosophy We are dedicated to helping students with homework, test prep, and anything else school-related. We believe in positive reinforcement and getting kids excited about their work so that they are motivated to focus in school. Coming from a performing

arts school, LaGuardia Arts high school, were especially versed in creative approaches to academia. Our tutoring program will be not bound to any one location: we are flexible to meet students in coffee shops, libraries, or their houses. Our sessions range from half an hour to 2 hours, depending on the students need. As for babysitting, 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, clean, and travel. As we have an entire staff, we have many hours between us that are available for services. Clients will never have trouble getting a babysitter at peculiar hours and will only have to ask once. Rates vary depending on service: $12 for babysitting, $15 for academic tutoring, $20 for college test prep. We can work with kids of all ages: we are well versed in elementary, middle, and high school curriculums. We baby-sit all ages, even those that require diaper changing! As for test prep, we offer both individual and group sessions. D. Why did you choose this business? What are some of the issues you will face in establishing this business? Were making use of our own talents and abilities, namely our skills in understanding academic material and translating that to someone who might have a harder time grasping concepts initially. In order to expand profit possibilities, we decided to add babysitting to the equation (as that is a service were all capable of as well). We come from an esteemed and widely known high school in New York City and each have impressive grade point averages to qualify us. Two of our staff members are headed to Harvard, and that sort of name is very appealing to parents who want their children to have a successful academic career. We also decided on ELEVATE because it costs almost nothing to provide the services we offer. We could make a whole lot of money! The issues we may face include getting our company to take off. It is hard to collect credentials when we havent had any clients yet. Once a few people become interested and begin using our services, we can have client testimonials and referrals on our

website. Well become even more notable once people spread information about us via word-of-mouth, especially in the test prep category (which will be measurable once kids are successful on their tests). Another issue could potentially be that of excessive travel time. We currently have staff members who live in Manhattan, Brooklyn, and Staten Island, so were almost covered in terms of representation in the 5 boroughs. However, because we are just starting out, if a person from Queens asked us to come to their house for a late-night babysitting job, we would not want to turn them down, despite how inconvenient such a commute might be. Ideally, once our business has taken off, we would have a staff member stationed in each borough to minimize travel time and increase flexibility of our services. E. What are the advantages and disadvantages of opening your business rather than some other form such as sole proprietorship, partnerships, or corporations? Our business has basically no start-up costs. All we really need to pay for is advertisement, and with our rich uncle Seymour and his $30,000, the advertisement cost is more or less covered. So, there would be no reason to form a partnership or go in with a corporation. By starting our own company, 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. There is no middleman/no overseer that will get a percentage. 2. THE BUSINESS REPORT. All business must prepare a startup plan. This report should include ideas or concepts about the business, as well as projected costs and financing issues. Your business report should include the following: A. Start-Up Costs, such as fees, construction, equipment, supplies, etc. $500.00 for purchasing tutoring prep books and other brush up materials and tips for ourselves. Advertisements: 500 printed fliers = $145 Business cards for each staff member: 250 for $20.00 X 3 =

$60.00 B. Suggested Financing, such as bank loans, savings, etc. NA C. Projected Monthly Costs, such as rent, labor (wages, possibly benefits), supplies, loan repayment, etc. 3 unlimited metrocards per month ($104 each) = $312 D. Projected Monthly Sales Babysitting = $12/hr Academic Tutoring = $15/hr. Test Prep = $20/hr. SAT Subject test prep = $17/hr. Group prep session = $75/hr. Min. sales: 6 hrs. tutoring: (15 X 6) 6 hrs. prep (20 X 6) 2 hrs. subject test prep (17 X 2) 1 hr. group SAT prep (75 X 1) 15 hrs. babysitting (12 X 15) TOTAL WEEK: $499 TOTAL MONTH: $1996 Max. sales: 12 hrs. tutoring(15 X 12) 12 hrs. prep (20 X 12) 4 hrs. subject test prep (17 X 4) 2 hr. group SAT prep (75 X 2) 30 hrs. babysitting (12 X 30) TOTAL WEEK: $998 TOTAL MONTH: $3992 Projected Monthly Sales = $1996 - $3992 Minimum: E. Projected Monthly Profit $1996 -- $312 = 1684 $3992 -- $312 = 3680

Between $1684 and $3680 monthly. 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, so that we can have the most effective and recent material to work with. This means an additional $500 or so per year. Additionally, once we have launched our business, we can decide to make use of more promotional advertising that would cost more money, like posts in newspapers or school newsletters. Those decisions would be made individually and after about a year of successful business. G. How would you save and invest your money? Skim through Chapter 9 for some ideas.