Executive Summary:

Everybody who enjoys a good pair of shoes, whether theyre a stylish pair of

sneakers or a tough pair of work boots, needs a quality pair of socks to go with them. At

Sox4U, we plan to offer a wide variety of socks to the individuals specific sock needs.

These different kinds include mix n match colorful socks for anyone looking for a

fashionable look, waterproof athletic socks for a rising sports superstar, or even heavy

duty work socks for a person who needs some more support while excelling in their

highly active workplace. Our focus is to offer a wide variety of socks to any two different

people in need of two completely different sock experiences. We feel the best way to

reach the people is through the new frontier of business, Social Media. Through sites

such as Facebook, Twitter, or Instagram, we can reach the widest demographic of

people by connecting to the whole world online. Hopefully by reaching this many people

online, we can turn the greatest profit and partner with various novelty stores and local

gift shops. This way we can put our socks out on storefronts, and increase the demand

by making them hard to find and rare.

Mission Statement:

Offering quality socks with practical purposes, to suit every individual need.

Organizational Structure:
Employees:

Bridget Byrne Benjamin McKayla Zorn Joshua Skrapits

Randall
Materials Manager Project Manager Spokesperson Recorder

Marketing Financials Executive Planning Distribution

As well as the executives listed above, we also offer employment to seven

workers in manufacturing, and one janitor, totalling about $20,000 a month.

Business Location:

Our place of manufacturing takes place in Northern Illinois because we strive to

make our products 100% American made. We offer only the best facilities and

resources for our hard-working employees to produce the best product possible. Our

goal is to provide high-quality socks, and we believe we must provide the best

resources available to our workers in order to produce the best product that we can.

Type

Waterproof These socks are used for hiking/outdoor situations where it will keep
your feet dry and breathable.

Cotton These are your most basic wear everyday and use for any situation
socks.

Wool These socks are very warm and durable wash after wash.

X Static These socks are made for performance applications for those who
are constantly moving.

Pocket Sock The Pocket Sock is very useful when traveling, or when cute clothing
 does not offer any pockets.

Mix N Match The Mix N Match sock is used for those in a hurry, where all socks
have many different styles and any two can be worn together and
still match!

Heavy Duty The heavy duty line of socks are for those who work hard, need a
rough and tough sock that can we washed and worn again and
again!

Sale Price
Type Ankle Crew Athletic Ski/Work

Waterproof $25 $30 $40 $40

Cotton $5 $7 $9 $11

Wool $10 $12 $20 $15

X Static $12 $15 $22 $20

Pocket Sock $17 $19 $26 $24

Mix N Match $6 $8 $10 $12

Heavy Duty $8 $10 $12 $14

Actual Price

Type Ankle Crew Athletic Ski/Work

Waterproof $20 $25 $32 $32

Cotton $2 $3 $4 $5

Wool $7 $9 14 $10

X Static $8 $11 $18 $17

Pocket Sock $12 $14 $21 $19

Mix N Match $3 $4 $6 $8

Heavy Duty $5 $6 $8 $10

Profit for Each Item

Type Ankle Crew Athletic Ski/Work

Waterproof $5 $5 $8 $8

Cotton $3 $4 $5 $6

Wool $3 $6 $6 $5

X Static $4 $4 $4 $3

Pocket Sock $5 $5 $5 $5

Mix N Match $3 $4 $4 $4

Heavy Duty $3 $4 $4 $4

(Business Need) Cost (Month) Up Front (1 Time) (Total if Everything

Sells)

Building 10,000

Machinery 70,000

Supply 24,900

Labor 19,200

Tax (Business Exempt)

Advertisement 1000 (After Monthly)

144,400

Merchant Fee 5% (10,500) 210,000

TOTAL 65,600 70,000 (Borrow 150,000)

Our group will need to borrow $150,000. This will be a small business loan. This

loan is expected to be paid back by the 4th month of business operation. The above

data is not factoring in the income of the 4 executives of the company. Any extra profit

will be split 4 ways between the executives. Most of the money for the first couple
months of operation will all be put towards business measures. Our product will cost

(with everything factored in) roughly about $65,000 a month, with a gross profit of (if

everything sells) $210,000 a month. Factoring in the cost, we stand to make (if

everything sells) $144,400 a month. Our expected sales of the first month of operation

is $36,100, second month of operation $72,000, third month of operation $108,300, and

by the fourth month of operation $144,400. In the next five years, our business stands to

make $8,664,000 in profits if kept the same size. More machines could always be

bought to speed up production for more profits and further expansion later down the

road.

Marketing Strategy:

We plan on selling our product in novelty stores, such as Mom and Pop shops,

local small shops, and bookstores. Rather than commercializing our product, we want to

use the rarity factor in order to create interest.

Target Audience:

Sox4U produces products for everyone from 2 to 102. However, we intend to

target ages 14-34 in more urban areas which would include an income range of people

who have lower-middle to high income. Sox4U strives to make our socks as affordable

as can be for everyone. We want to be able to establish large sized regular customer

base, with the rest being made up in profits from tourists and novelty enthusiasts. Our

goal is to make our customers completely satisfied with their purchase and make them

want to keep coming back with our rewards program.

Market Need:

Socks are a staple item in almost every Americans life and are also something

people will continue to need as long as shoes are still around. In the Northwest and

Midwest region of the United States, specifically urban cities in Washington, Oregon,

and around the Great Lakes there is a need for a unique product such as ours. With

winters being slightly longer in these states, people are more likely to be wearing close-

toed shoes and which usually includes wearing socks. We see a potential burst in

interest for our socks in cities like Portland, Oregon, Seattle, Washington, and Chicago,

Illinois due to the high interest in new age and indie clothing and other products.

Advertising:

We intend to create hype for our product through social media. Ads on places

such as Facebook, Instagram, Twitter, and Tumblr, will create interest in our product as

well. We aim for word of mouth advertising which has seen success in products like

Cards Against Humanity. Our product will be accessible online and in a limited amount

of stores. We also plan on having a subscriber list for our loyal customers so that they

are able to know when we have a new style or design coming out.

Distribution and sales plan:

We will produce our product in Illinois, mostly due to the convenience of it being

local to our startup and also in part of the 6.0% unemployment rate. The likelihood of

finding workers for our startup would be considerably higher than in most of the other
surrounding states. We will sell our product in novelty shops in the Midwest and

Northwest area. We also will be selling our product online due to the increase in internet

sales traffic in the past years. Our sales representatives will be internal. We will have

McKayla and Bridget head the sales force. We will train them to create a need and then

sell based on that need.

Recordings

Thursday February 2, 2017: Josh was not at this conjunction, he is in the

tuesday group, today we mostly brainstormed the project, assigned roles, and created a

rough outline of our business plan.

Thursday February 9, 2017: Today our group met again and began to set to

work, Josh came this time so our entire group was here. Each person took up their own

role and got a fair portion their work done in class.

Friday February 10, 2017: We began to work and all four of our group members

were present to complete a majority of the business plan.