Business Plan for Women Seminars

WOMENAR

By Michelle T. Ross
 Table of Contents

1. EXECUTIVE SUMMARY..........................................................................................................................
1.1. PURPOSE OF PLAN:...............................................................................................................................
1.2. THE COMPANY.....................................................................................................................................
1.3. MARKET ANALYSIS..............................................................................................................................
1.4. MARKETING AND SALES ACTIVITIES.....................................................................................................
1.5. RESEARCH AND DEVELOPMENT.............................................................................................................
1.6. ORGANIZATION AND PERSONNEL..........................................................................................................
1.7. FINANCIAL DATA.................................................................................................................................
2. INTRODUCTION OF THE COMPANY..................................................................................................
2.1. OUR VISION STATEMENT......................................................................................................................
2.2. OUR MISSION STATEMENT....................................................................................................................
2.3. GOALS.................................................................................................................................................
2.4. OBJECTIVES..........................................................................................................................................
3. MARKET ANALYSIS.................................................................................................................................
3.1. CONSUMER SEGMENT...........................................................................................................................
3.2. OCCUPATION........................................................................................................................................
3.3. THE PSYCHOGRAPHICS.........................................................................................................................
3.4. SMALL BUSINESS SEGMENT..................................................................................................................
3.5. PROFESSIONAL/EXECUTIVE SEGMENT....................................................................................................
3.6. CONSUMER ANALYSIS..........................................................................................................................
3.7. MARKET TEST RESULTS (SURVEY DATA)..............................................................................................
4. MARKETING AND SALES ACTIVITIES..........................................................................................15
4.1. POSITIONING..................................................................................................................................... 15
4.2. SALES FORCE.......................................................................................................................................
4.3. SALES AND ADVERTISING ACTIVITIES...................................................................................................
4.4. COST ANALYSIS OF ADVERTISING.........................................................................................................
5. SERVICE RESEARCH AND DEVELOPMENT.....................................................................................
5.1. COMPETITION.......................................................................................................................................
5.2. COMPETITIVE ANALYSIS.......................................................................................................................
5.2.1. Strengths...............................................................................................................................................
5.2.2. Weaknesses...........................................................................................................................................
5.3. FEATURES AND BENEFITS.....................................................................................................................
6. ORGANIZATION & PERSONNEL..........................................................................................................
6.1. ORGANIZATION AND PERSONNEL...................................................................................................... 22
7. FINANCIAL DATA.................................................................................................................................23

8. REFERENCES.........................................................................................................................................24

APPENDIX A - INDIVIDUAL SURVEY................................................................................................A-1

APPENDIX B - SMALL BUSINESS SURVEY......................................................................................B-1

APPENDIX C - EXECUTIVE/PROFESSIONAL SURVEY................................................................C-1

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 1. Executive Summary

Womenar has been formed to create an arena to educate, facilitate &

expand women’s empowerment in the financial aspect of their lives.
Later, expansion would include seminars on management seminars
for women, empowerment workshops, and books. The market for
seminars directed at women for women is growing as women find
themselves in need of information, advice and education in an area
not generally comfortable for most women. Womenar will have
programs for women at different stages of their lives & directed for
different levels of knowledge, such as single Mom’s, young women
starting careers, widows on their own, women in the middle trying to
grab the right brass ring.

Womenar plans to position the seminars as a premium event. The

seminars will be sold directly through advertising to both individuals
and corporations. Later, it will be sold in book form.

At this time, the company will provide its own capital to start up the
business and cover the company’s short-term working capital needs.

The seminar programs are currently being tested and refined to be a

complete, yet fun experience in learning.

1.1. Purpose of Plan:

Although at this time we are not seeking investors or financing, we
do want a comprehensive plan that would assist us in the future.

The business plan is our operational plan for starting up and running
a successful business to outline a short term and with notes for a
long- term plan to include growth and expansion, while allowing for
flexibility to adjust in the market.

1.2. The Company

As a start-up business, the management team consists of the husband-
wife owner team of Michelle and Steve Ross. Michelle Ross has had
extensive financial experience and training through 19 years with a
prominent financial institution, a B.A. & M.B.A. in business.
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 Womenar will focus on creating a seminar program that is designed
for women as individuals, small businesses, and corporations. The
seminar is designed for women who are willing to pay a premium for
an educational and uplifting event. Womenar will assist women in
evaluating their current & future financial situation in relation to their
priorities and dreams. The seminar will give tools that will enable
them to plan for their future financial well-being. It will also provide
a secure arena for questions and learning without fear or
embarrassment, so they can better utilize their resources. Womenar
will continually work at updating training material and expanding as
the market demands.

The Womanar training programs are in final review and testing.

Marketing research conducted by surveys indicated that there is a
strong consumer need and desire for the seminar/training programs.

The owners of the company will provide initial capitalization.

Womanar believes that a comprehensive program plan will be in
place within six months with an initial target of four seminars per
month with a projected 50 attendees at $75 per person for one day.
Later seminars will expand into a two-day seminar workshop at
higher prices of $250 with a target of 250+ attendees.

1.3. Market Analysis

There are approximately 723,293 women in the workforce in San
Diego County. There are approximately 535,000 women in the
county under 20 & 1,062,855 women between the ages of 20-69
years of age.

For future expansion, we will analyze the opportunities in Orange

County/Riverside/Desert/Los Angeles Counties.

In San Diego County, there are 3,972 financial managers that are
women that may include, Certified Financial Planners and Financial
Planners. There are 9,614 women accountants including CPAs.

There a limited amount of books, seminars or magazines that provide

financial tools directed for/to women.

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 ********************************************************
Over 700,000 women are currently working, some with no benefits or
retirement plan in place. Other women may have plans available, but
may not be maximizing its potential due to lack of investment
knowledge. The need for understanding of personal finance will
continue to grow as more and more people’s future depends on the
stock market, debt management, and future expenses such as
emergencies, college education and retirement. In San Diego County,
it is becoming more increasingly difficult to afford a home unless you
currently are a homeowner. Yet, it is still one of the biggest dreams
of every American. Our seminars will teach women how to take
control of their dreams and their financial futures with confidence
and comprehension.

The potential number of clients for Womenar seminars is at least 5-

10 seminars in the next year in order to fine tune the program and
begin network of clients. Potential can grow into 24+ seminars in two
or three years. Recent trends indicate that the fast growth in interest
in savings, retirement needs and debt management will result in a
growing need for training to better understand and plan for personal
and business finance.

The target group of consumers are broken down into four categories:
young women starting out (a non-profit education process); women
currently in the workplace – family women, head of household
(single parents) and single women; women without employment –
either homemakers, widows, retired; and women business owners
and employees. Seminars will focus on the overall concepts with an
emphasis on the specific needs of each group.
1.4. Marketing and Sales Activities
Because Womenar’s budget is limited, it will keep its message
simple, emphasizing the focus of women/for & by women.

With the company’s limited budget, initial advertising will be limited

to area cores for direct mail brochures, magazine articles, newspaper
articles and website. Some presentations will be directed toward the
corporate/women owned business market. A financial
mailer/newsletter will be a crucial marketing tool, as seminars occur
to keep in touch with participants for future seminars, market
surveys, and corporate contacts.

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 To monitor inquiries and provide information, Womenar will mail out
brochures, have an informative website, an 800 number which will
give seminar sign up information which will allow follow up on
sales/potential sales.

1.5. Research and Development

Womenar plans on structuring its seminar to best provide its
customers with an up-to-date and comprehensive, yet enjoyable
financial-training learning experience.
The company will continue to poll potential and existing customers
for changes and enhancements. Womenar anticipates rapid growth in
this area and along with the growth, anticipates word of mouth to
create demand for the additional seminars and books.

1.6. Organization and Personnel

Operations are greatly simplified, as there are only the
owner/employees. The office will be organized in a manner to
maximize its professional appearance, yet operate effectively and
practical.

As previously noted, the owners of Steve and Michelle Ross will also
be the employees of the business. Both will share the overall
operation and management that includes sales, training and all office
maintenance.

1.7. Financial Data

The financial data is outlined in the following: Operations budget,
Advertising budget, Equipment Analysis in their respective sections.
The Sales Forecast, Pro Forma Income Statement, Pro Forma Cash
Flow analysis, Expense Forecast with break-even analysis and
Balance Sheet.

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2. Introduction of the Company

Over half of the world is made up of women. Women have been a

part of the workforce since WWII, however they have not been active
in the financial markets as a group. Women now are understanding
that they need to plan for a variety of financial goals such as home
ownership, children’s education, retirement, medical and long term
care needs, and insurance to name a few. Although there are
numerous financial books and magazines available, they do not speak
to the unique circumstances of women. There is an underlying desire
for information, but a need for learning the basics – a comfort level
that is difficult to attain with current means of information. Women
also tend to feel uneasy learning about financial matters from or with
men. There is a fear of appearing not competent when asking a
question or needing additional understanding. However, women do
feel more accepted by other women who they feel will be more
empathetic and less judgmental; therefore they will become more
open with other women. While the World Wide Web and Internet
access has expanded the world of financial information to individuals
and businesses in addition to all the books and magazines, it has
created a glut of information that can become overwhelming for the
average person. Consequently, even with the plethora of information
available, there is a need for a tailored program for women of all ages
that will provide considerable opportunity for the expansion of
seminar topics and training.

The prospective business called Womenar will serve the needs of

three particular groups initially; general consumer
(housewife/working mother & wife/widow/retiree), small
businesswomen, executive & professional women. Subgroups may
be defined as generation X, baby boomers, older generation. As the
dynamic world of financing changes, there will be additional services
and challenges that the business will address in the market. Although
there is an estimated 30 million women in the United States, the
percentage of women who require financial training is extremely
high. Also, there is a gap in the needs of women at different ages,
circumstances, and experience. Young women are hopefully being
exposed to financial matters, such as purchasing stock and retirement
planning in college, but not all have that exposure. It requires
knowledge and discipline to start saving from the beginning of your
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working career when money is tight and there are many costly
distractions to take you away from our goals. Some young women
don’t even plan about retirement, buying a home or other financial
matters because they think when they’re married that they will
address those things. However, many of the X-generation are waiting
to marry into their 30’s. The result is a loss of empowerment and
potential for many years of savings wasted. There are many in the
baby boomer generation that will inherit billions of dollars from
parents and grandparents. The need for proper financial management
will be crucial. Many in the baby boomer generation have not
planned sufficiently in anticipation of inherited wealth. However,
with people living longer and healthier, that transition of money may
not happen when the boomers are ready to retire. Thus, it becomes a
tragic miscalculation in planning. Also, the older population is
finding out that Social Security and stipends of pensions are not
sufficient to sustain the quality or length of life, as they had believed.
Many women born during the depression-era have not ever dealt with
the financial matters of the household; then the burden is thrust upon
them, as they become widows. There are many different scenarios
that can present themselves, but the focus is on providing needed
information in a secure, informative and empowering fashion.

Womenar is a prospective start-up business that addresses the needs

of women and their financial needs. In addition to helping high &
middle income/net worth women, we would provide basic budgeting,
saving, and retirement planning workshops for underprivileged, low-
income women. Many have not had financial experience needed for
their new or evolving situations. Yet they do not want to miss
opportunities or fall behind by not having a comfort level with even
the basics of check writing, checkbook balancing and budgeting.
Also, we will provide tools for teenagers, such as seniors in high
school that may not been taught specific financial skills pertaining to
retirement and savings planning, budgeting, self-promotion (love-me
book), etc. The seminar would be of no or low cost to the school and
be directed for both boys and girls.

Womenar will address the needs of families or family members that

should understand the need for financial focus and goals. Part of the
workshop will be in understanding and outlining specific goals and
prioritizing them in order to complete a financial plan. This part of
the workshop will deal more with the emotional side of goal setting,
prioritizing, communicating, managing, and reevaluating of their
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financial plan. Often women feel torn not only by their commitments,
but also by the financial constraints they experience. Many have a
budget, but it doesn’t include savings or retirement. They need help
getting to that next step. There is considerable time that is involved in
gaining financial skills and sometimes it can be frustrating. Our
business wants to address those needs by providing a positive,
comfortable experience with useful materials they can continue to
use. The seminars can be taken at different levels or as packages.

Small business is another section of the market that can benefit from
a financial consultant and training. As statistics show, women-owned
or women-run small businesses comprise 25.47% of all businesses in
the US. Many have not taken advantage of financial expertise for
several reasons: cost of expert training and information, lack the
knowledge or time to investigate the proper expert, and lack of
women focused training. Nonetheless, the small business is a perfect
match for seminars. There are innumerable ways that the information
from the seminar would in the long run save business owners time
and money. The small business seminar would focus on business and
personal financial planning and forecasting, best use of daily cash
and investment options in addition to various business focused
strategies.

Womenar will evaluate the ideal locations to have seminars to

maximize the number of attendees. Hotels, convention centers, and
schools will be the most likely facilities for the seminars. Contracts
will vary for number of people, room costs, equipment rental costs,
food/refreshment costs, as well as training material costs. All costs
will be built in with an expected return of 60% back to the company.
Seminars for small or large companies can be set up using their
facility. Location and outlay of capital are two major considerations
in pursing this area within the short-term plan of the business.

Womenar is a prospective business presently in its development

stage. Womenar can best be described as being in the business of
empowering women in the financial arena by giving them a secure
atmosphere to learn and understand the concepts needed to make
plans, set goals, evaluate and re-valuate their plans. Key strengths of
the business will be the uniqueness of the women focused seminar.
The flavor of the seminar plus the empowerment aspect will elevate
Womenar from other seminars available.

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 The business will be a sole proprietorship with the owner Michelle
Ross. Michelle Ross will serve as the manager, marketer and
trainer/facilitator. An outside source will serve as the web master and
assist with marketing. There are no plans to hire initially.

2.1. Our Vision Statement

Our vision is to legally and honestly earn all the money we can by
providing our customers with exceptional value by doing things that
we can enjoy and be proud, while being flexible to changes in the
market and making those adjustments smoothly.

2.2. Our Mission Statement

Our mission is to enhance the lives of women and their families by
empowering them to make life-altering changes through financial
planning tools to achieve their dreams.
2.3. Goals
1. To price seminars competitively
2. To provide a valuable and enjoyable experience for the participant
3. To ensure customer satisfaction within reasonable parameters
4. To provide a comfortable and secure climate for learning in
acquiring practical financial planning skills

2.4. Objectives
1. To fulfill the needs of a niche market
2. To expand and adapt goals as the market changes

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 3. Market Analysis

Women owned over 6.4 million of all U.S. businesses in 1992,

employing over 13 million people, and generating $1.6 trillion in
business revenue. The number of women owned businesses are
expected to grow in number due to government financing programs,
by 25% each year over the next five years. Recent trends indicate that
the majority of the growth in computer use and Internet access will be
seen in the home and small business market. Therefore, this support
an upward trend for the need of the services that Womenar will offer.

The market is divided into three relative, yet distinct groups (as
outlined in the introduction). These are the consumer segment, the
small business segment and the professional or/and corporate
segment.
3.1. Consumer Segment
The demographics of the consumer segment are outlined as the
following for San Diego County: (based on 1992 census)

Population: 2,839,975 people

Households: 942,280
Female population: 1,418,973

College Grad Professional/ Some College/AA

Grad Degree Degree
92590 = 6% 40,002 = 3% 222,132 = 15%

3.2. Occupation

Exec/Professional 167608 -
12%
Sales 75682 -5%
Clerical 144854 -
10%
Service 88053 - 6%
Technical 20529 - 1%
Unskilled 193625 -
14%

Total average income: $44375 Median: $35,022

Total annual income: 39% income over $50K
Average number of persons in a family: 3
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 Population distribution: 1/2 male & 1/2 female (within a 100,00
difference)

3.3. The Psychographics

Lifestyle: Family-oriented, fast-paced, weekday consists of school
and work. Weekend consists of sports, education and entertainment.
Motives: To keep up with changes in financial information and tools
for personal and professional needs/reasons – life events.
Interests: Time for self, family and personal growth/improvement
Needs: Comfort with life plan – security for future.

This data supports a viable segment that needs or will need financial
training or skills. This segment is driven by personal or professional
need of financial skills, while requiring ease and practical ways of
learning and utilizing the training from the seminar. There may be a
varying degree of skill level within each group, which will require
sensitivity to individual needs while giving a group seminar. This
would be done by early identifying mentors in the group, group
leaders or previous attendees volunteering as service to their fellow
women.
3.4. Small Business Segment
The demographics for the small business segment are as follows:

Number of business in San Diego County: 186,804

Women owned: 67,013
Receipt totals: $6,658,000
Number with employees: 7,910
Breakdown % of businesses: 2%

Women-owned businesses in Orange County, CA: 75,219

Receipt totals: 9,688,000

Women-owned businesses in Los Angeles, CA: 232,723

Receipt totals: 28,674,000

Women-owned businesses in California: 801,487

Receipt totals: 84,943,000

U.S. totals:
Women-owned “C” corporations: 517,000
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 Receipt totals: $932 billion
Employees: 7 million

Women-owned sole proprietorships: 5,078,000

Receipt totals: $122 billion
Women-owned partnerships: 244,000
Receipt totals: $88.3 billion
Women-owned subchapter “S” corporations: 567,000
Receipt totals: $432 billion

This segment of small businesses will require more specific financial

information geared directly analyzing, interpreting, understanding,
forecasting, managing their businesses now and in the future with our
financial tools. This would include some basic account ratios,
terminology, business plans, resources, borrowing and other
specialized areas.
A crucial issue is to explain the benefits to the small business owners.
Generally, business owners are reluctant to take the time for anything
outside their business arena. Therefore, the benefits of easy to use
tools, indispensable business/financial information, money
management tips must be outweighed by the costs and time
objections. The aspect of financial money management being a
crucial component in growing the business and maximizing profits
while managing expenses & costs. Selling the necessity of the
seminar and the cost will be less important, but the time commitment
may still be a consideration.

The seminars will range between $250-$800 - depending on a 1-day

seminar or a 2-day retreat event. The cost will be contingent on the
set-up location and materials. Additional costs would include meals,
entertainment, and overnight accommodations, if included in
package.

3.5. Professional/Executive Segment

As outlined above the demographics for the segment is the largest
market combined with professional/executives, sales and technical.
This market includes women employed by various sizes of
corporations, high tech companies, financial institutions, government
agencies, and retailers. Many corporations have limited to no
financial assistance outside minimal information about their 401K
participations. There are more companies offering options, bonuses
11
 and other enticements that the professional woman must deal. Even
with college degrees and corporate training programs, many of the
professional women have not taken the time to explore their current
or future financial plans. While experts in their fields, many women
do not have the knowledge or resources in the financial areas that
will impact their lives. The seminars will address the different levels
of skills.

The target market size is approximately the 350,000 prospective

customers based on the breakdown of data between the combined
target markets of individuals, small businesses and corporations.
Annual purchases of seminars, self-help books and tapes are estimate
in the billions per year in the US, however the actual numbers are
unknown. An unknown estimate of approximately millions of dollars
is spent annually on self-help/improvement products and services in
San Diego County.

This market continues to grow at a rapid rate. The trend has been that
in economic good times these products are sought. Especially in
economic down turns these products become an integral part of
people feeling good about themselves and their future. The area of
the greatest growth is in not only the seminars, but also the
subsequent products such as books, tapes, t-shirts, etc. The key is the
message is clear, understandable, meaningful and useful – the sky
then is the limit.
In the next five years it is unknown the estimated that there will be
spent on self-improvement products and services in San Diego
County. The market potential for the seminars and products will be
represented by a percentage of the total amount spent of financial
products nationwide. The upside potential for Womenar in the three
target markets over the next two years is 100% of initial sales
projections.

3.6. Consumer Analysis

The target group of consumers for the seminars is women with little
or no experience with financial matters, but feel the pressure to know
due to media focus on the economy & stock market coverage, their
own personal needs or due to a life event change such as divorce or
becoming widowed. Some are transitioning from two incomes into
one, into a fixed income or starting all over. The basic understanding
of where they are, where they want to go and how to get there are the
12
essential pieces. Others have information and knowledge, but have
not put into motion due to lack of confidence, time or a place to start.
Generally it becomes the easiest thing to procrastinate until it’s too
late. This would apply to any of the three groups, but especially to
business owners. Often they are experts in their field or business, but
are not financial experts. They may rely on hired professional to take
care of their basic financials, such as tax returns and financial
statement, but it does not provide short or long-term financial
planning for either their personal or business goals. It is imperative
the businesswoman has training in order to better understand what is
taking place in her business finances, ensure from fraud and make a
comprehensive personal and business plan.

As a result of the seminar tools and training, the women should have
an increasing comfortable level with their own financial future. There
will be a message along with the tools that will hopefully transcend
the mechanics of the financial training and empower the women in
new and better ways in their current and future roles.

Members of the individual target group tend to live in suburbs or

urban areas. They are will be from various walks of life with one
common goal – to empower themselves with knowledge and skills to
better control their financial lives. Also, there is a need for
professional women. Their ages range from thirty to fifty-five. They
tend to be college-educated with household incomes between
$40,000- $150,000. Many are homeowners and hold professional
jobs.

Members of the small business target group are similar to the

individual target group in many ways. They want to become more
financially literate for practical reasons. They want to manage their
finances and bookkeeping through a computer program. They need to
be able to analyze the information they gather to make informed
decisions and utilize their capital in the efficient ways. However, they
probably have not taken the time to delve into their financials other
than the CPA overview and maybe reluctant for fear of things not as
good as hoped. Many have become experts in their own business
fields, yet not taking the control and power of their finances.

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3.7. Market Test Results (Survey Data)

# of potential customer contacted:

100 Individuals/Consumers
50 Women-owned Businesses
50 Executives/Professionals

# of responses:
XX Individuals
XX Women-owned Businesses
XX Executives/Professionals

The overall reaction of potential customers from the surveys

validated the interest and need for a seminar aimed at women for
financial training. There was a clear understanding on the importance
and need for financial competence and training. All three test group’s
were not as concerned in pricing as value for their time and money.

The following is a statistic review of the data collected from the

surveys. (Note: this was just a sampling survey in order to get some
feedback on what the needs and key trends that is in the market.)

Survey Results Individuals Business Corporations

Participation: 78/100 35/50 15/25
Have a financial plan 69% 80% 100%
Attended a seminar 12% 28% 60%
Feels control of finances 75% 65% 50%
Wants more knowledge 75% 72% 56%
Wants more comfort 71% 68% 12%
with own finances
Willing to pay over 62% 34% 72%
$100

Some anticipated changes within the target market would be as a

reputation is identified with the seminars as more than just financial
information. The trend will result in word-of-mouth referrals; repeat
business, and other product extensions such as books, tapes and
merchandise.

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 4. Marketing and Sales Activities

There are several avenues of marketing and sales activities that

Womenar will implement. The most important focus with the
marketing plan is to get the company name - Womenar and an image
with its benefits out to the target market. Since we have a limited
budget for advertising, we will be utilizing the least expensive, yet
most proven effective advertising mediums first.

 Letters to the editors of local newspapers

 Articles in magazines
 Women’s group ads (e.g. NOW)
 Newspaper Ads
 Company newsletter/news bulletins
 Direct Mail
 Women’s Magazines advertisement (e.g. Money for Women)
 Web site for information/sign up
 Ads or/and articles in professional/specialty magazines

4.1. Positioning
Womenar will position it services as professional, personal,
informative and fun. It will target its marketing efforts at the
professional women market. To establish and maintain our company
image, the delivery and tone of our statements will be professional
and informative.

4.2. Sales Force

The sales force will consist of the owners at this time to keep
operating costs down. However, we will consider using a printing
company for our brochures, manuals, and marketing materials. We
will look into hiring administrative assistance to set up locations,
seminar dates, mail confirmations, etc.

The main obstacle will be creating an image that will attract women
to the program in lieu of other seminars available. It will be
imperative that sales generation reaches a level to provide more
efficiency and customer service through hiring staff. However,
staffing will continue based on need. Temporary hiring will most
likely be the initial step for staff before creating a permanent
workforce.
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 We will be starting with low cost approaches. One step in our
marketing plan is to send brochures to the women owned businesses,
as well as women managers in corporations. The first focus will be to
the middle management level professional/working women. It will
include middle class to upper middle class homemakers, working
Mom’s and widow/retirees. The purpose is to provide information
and tools to empower women to enable them to become more
independent and confident in dealing with financial matters. Part of
the purpose will be to create a fun and supportive environment that
will assist in creating a bonding with the other participants.
Establishing support groups and networks will also be a goal of the
workshops while having fun.
4.3. Sales and Advertising Activities
Given the growing potential, we will build our own mailing list and
prospect list in a marketing database. Part of our sales activities will
be developing relationships with the participants in order to
encourage referrals or repeat attendees. Periodic customer surveys
will help us to understand out customer, and measure the success of
our marketing, sales and training activities. Profile overlays or other
lists that we buy will fill in our awareness gaps. It will allow us to
update our customer knowledge on a monthly basis. We plan to
develop a customer information system that will assist us in making
sound decisions by giving us historical answers to our marketing
questions.

Our goal will be to contact 10 business contacts and 50 potential

participants per week to provide information on the company, the
seminars and upcoming seminar dates. After seminars, we will spot
call participants for feedback and critiques, as well as referrals. We
project that at a hit rate of 20% will give us the customer rate for
sales averaging $75 per sale initially, to grow to $250 per person per
seminar after established program and reputation.

Ads will convey the look and feel of a professional company.

Research indicates that direct mail has not been used to by any of our
competitors. Ideally, the consumer will call us for more information
or a brochure outlining our seminars and pricing. To eliminate the
biggest objections to immediate action, our ads will address the ease
of learning how to take control of your finances – NOW!

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4.4. Cost Analysis of Advertising

For the next year advertising will require approximately $4,000. On

an ongoing basis we will budget our advertising investment as 10%
of total sales. Our advertising budget in within the range for the
industry given data that was received via interviews with similar
business of similar size.

Type of Advertising Cost Frequency

Letter to Editor 0 Quarterly
Articles in Magazines 0 Quarterly
Newspaper Ad $256.00 7 Times
Specialty Magazine Ads $Varied Monthly
Newsletters $100.00 Quarterly
Direct Mail $100.00 Weekly
Telemarketing $25.00 Weekly
Web site/page $30.00 Monthly
Radio spots $Varied Pre-seminar

All advertising will be analyzed based on the break-even point.

Initially, different methods will be used to verify the most effective,
while cost efficient way to reach potential customers. Direct mail will
be the primary vehicle, in conjunction with the web site. Newspaper
ads and magazine ads will be used primarily before events. Radio
spots may be used in an alternating two-week stretch prior to seminar
sign ups or event. After each event, there will be quantitative
measurement on the effectiveness of the advertising that was most
effective and why. It will allow us to better reach our market or
customers the most cost-effective way.
Used in part as advertising, will be follow up cards or surveys to
gather feedback on the event. It will again reinforce the name and
have another contact with a possible repeat customer or an indirect
referral source.

17
 5. Service Research and Development

4.5. Competition
It is difficult to gauge the number of seminars in general available or
seminar companies in the U.S. Zig Ziegler, Tony Robbins, Deepak
Chopra, and Suze Orman are some of the most successful names in
the self-improvement or financial success focused multi-media
companies. Information is scarce on the annual sales of the above
type companies. However, sales range in the multi-millions based on
the number of books sold, tapes and videos sold, and seminars that
some frequently do.

4.6. Competitive Analysis

4.6.1. Strengths
Market specific: There are not many seminars that are
focused specifically on the needs of
women. This is a niche market that has
been untapped. The numbers of
women grow in their importance as
consumers.

Beyond finance: There will be similarities to the above

names mentioned in the Womenar
seminars. They will not only focus on
the technical aspects of finance, but
the motivational aspects of building
confidence, knowledge and control of
life and future. This is a very wanted
commodity in the mass audience. Need
for validation and reassurance. Ways
to win.

4.6.2. Weaknesses
No market presence:
18
Womenar currently does not have its
name out into the market. There is no
brand name or reputation at this point.
The above personalities have built a
reputation that has become a brand
that people will buy just based on their
name.
Weak marketing and sales: Since the owners will manage all parts
of the business, it could be detrimental
to the business if it does not keep
focused on marketing for new
business, while maintaining its current
business.

Financial: Since it is a start-up business,

Womenar is less capitalized than its
competitors who have been in the
market. Because of their reputation
they have built an audience. Based on
that audience, they have built a capital
base that allows for high-end
advertising such as informercials, TV
ads, expensive print ads, etc. to reach a
maximum audience worldwide.

19
4.7. Features and Benefits
There are several seminars that we will offer for the following
segments: individuals, small business and executives/professionals.
Since we are still in testing stages, we do not have finalized copy of
brochures and listings. The following is our current price listing and
list of services:

Basic Seminar $100.00-$250.00

 1 day seminar – basic concepts of empowerment and financial aspects
 Workbook and exercises
 Tapes and supplemental merchandise for sale

Small Business – Women-owned $150.00-$800.00

 1 day seminar – basic concepts of empowerment and financial aspects
 2 day seminar – expanded look at managing own financial powers
 Focus on personal, business, mentoring and networking
 Tapes and supplemental merchandise for sale

Executive/Professional $150.00-$800.00
 I day seminar – basic concepts of empowerment, network, mentoring, acceptance
 2 day seminar – same as above expanded
 Focus on personal, business, mentoring, and networking
 Tapes and supplemental merchandise for sale

Womenar seminar’s main features are skills and empowerment. The

benefit to customers is that the seminars can save teach them
important, crucial skills they have never or barely been exposed, even
college graduates. The training gives the women confidence and
skills, while having a good time doing it. The seminar is more of an
event that a course in financial management. They will come away
with ways to plan that fits their needs, schedule and money.

The prices for our services are determined first and foremost by our
customer’s willingness to pay. It is important to know that perceived
value pricing is essential to our market profile. Our prices reflect our
competitors pricing for similar services. Based on our competitive
analysis, our prices are comparable to our competitors. We will
present Womenar seminars as a premium event with pricing that
matching.

For this type of business, we will not have returns. However, we do

want to ensure customer satisfaction. We will make appropriate
adjustments for any customer not completely satisfied with our event.

20
While financial seminars do not specifically have a life cycle, it will
need to continually be updated as the information and customer
expectation’s changes. There will be ongoing research to expand the
business in new ways. An example, Womenar would expand the
business with broad merchandising as a brand with books,
magazines, newsletters, tapes and miscellaneous merchandise. Also,
Womenar would provide financial training to high school boys and
girls as part of a giveback to the community.

21
 6. Organization & Personnel

Womenar is a planned home-based business with a legal structure of

a sole proprietorship. The office will be located at an adjacent
building to our home. The office address will be a local post office
box for privacy. The office will be equipped to handle calls,
messages, scheduling and correspondence without an office staff.
The following is a costs list for set-up and recurring monthly costs.
SET-UP COSTS:
Phone/Fax line installation: $100.00
Fax machine/Printer/Scanner: 300.00
Womenar bldg. 2500.00
Website set-up: 1000.00
Page/Phone/Message network 50.00
set-up:
Post office box: 50.00
Stationary supplies: 200.00
Marketing materials: 600.00
Computer: 600.00
Software: 300.00
Office Furniture: 800.00
Logo development: 150.00
Business license/filing fees: 65.00
Total:
$6700.00
RECURRING COSTS:
Post Office Box rental: $50.00
Postage: (estimated) 200.00
Marketing supplies: 100.00
Advertising costs: (estimated) 350.00
Travel budget(.345/mile): 150.00
Insurance (liability/auto/health): 800.00
Manual/training materials/JIT inventory: 100.00
Utilities: 100.00
Message network monthly fee/web maintenance 200.00
Total: $2050.00
**Salaries: Negotiable on start-up basis
**Rent: None. On-property office.

4.8. Organization and Personnel

The key manager and employee will be the owner - Michelle Ross.
See the attached resume.

22
1. Financial Data

See the financial analysis outlined below on the following pages:

1. Sales Forecast with Profit/Loss Analysis

2. Pro Forma Income Statement
3. Pro Forma Cash Flow Analysis
4. Expense Forecast with Breakeven
5. Balance Sheet

Sales Forecasting: Worst Case Most likely Best Case

1/4 (.25)% Mkt. 1/2(.5)% Mkt. 1(1.)% Mkt.
share share share
Individuals (169929) 425 850 1700
Small Businesses (71668)
179 358 716
Corporate (8403) 21 42 84
Total: 625 1250 2500

Revenues: ($75 per sale

average) $46,875 $93,750 $187,500
Expenses: $42,208 $42,208 $ 42,208
Profit (Loss): $ 4,667 $51,542 $145,292

Sales Pattern:
1st Quarter: 35%
2nd Quarter: 30%
3rd Quarter: 20%
4th Quarter: 15%

23
2. References

Books:

Adams, Bob, (1996). Small Business Start-Up. Adams Media

Corporation: Holbrook, Massachusetts.
Bangs, Jr., David H. (1994). The Start Up Guide, 2nd Edition.
Upstart Publishing Company, Inc.: Chicago, Illinois.
LeBoeuf, Michael (1996). The Perfect Business. Simon & Schuster:
New York, New York.

Websites:

Various online websites

24
 Appendix A

Survey
Please take a few minutes to complete the following questions.
Thank you for your time and comments.

1. What magazines do you read most often?

2. Do you use the Internet? YES NO

3. If so, what web sites do you visit most often?

4. How often do you visit the web sites?

a. Once a day c. Once a week e. Once a month

b. Several times a day d. Several times/week f. Several times a month

5. What newspaper’s do you read?

(check)

- Union-Tribune
- Wall Street Journal
- LA Time
- USA Today
- Other: __________________________________

6. What are your favorite sections?

7. Have you ever attended a seminar?

a. Yes

b. No

8. If yes to answer 7, was it:

a. Work-related c. a college or community college course

b. Personal development d. other:__________________________

A-1
9. What did you like best about it? Why?
________________________________________________________
________________________________________________________

10. What did you like least about it? Why?

________________________________________________________
________________________________________________________

11. What was the cost (approx.)? Was it worth it to you? Why?
_________________________________________________________________
_________________________________________________________________

12. How would you rate your money management skills?

1---------------------------5------------------------10
no skills passable great – on track!

13. Rank the most important to you:

___Retirement
___Home buying
___Stock market
___College fund
___Debt management
___New car
___Vacation
___Other: __________________________________

14. I know my net worth?

a. Yes
b. No

15. I feel I have control of my finances?

a. Yes
b. No

16. I currently have a financial plan?

a. Yes
b. No

A-2
17. My financial advisor is:

a. None c. Tax preparer e. Stock broker

b. CPA d. Certified Financial Planner f.

Other_________________

18. Who manages your financial plan?

a. Me c. Both e. Other:_______________

b. Spouse/significant other d. No one

19. I am on target to meet my financial goals?

a. Yes
b. No

20. When was the last time you spoke with a financial counselor?
a. Never c. Annually e. Monthly

b. Weekly d. Daily f. Quarterly

21. Do you want to better understand & take control of your financial future?
a. Yes
b. No

22. Where are you now? Where would you like to be?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

A-3
 Appendix B

Small Business Survey

Please complete the following survey. Thank you for your time and
comments.

1. What magazines do you read most often?

2. Do you use the Internet? YES NO

3. If so, what web sites do you visit most often?

4. How often do you visit the web sites?

a. Once a day c. Once a week e. Once a month

b. Several times a day d. Several times/week f. Several times a month

5. What newspaper’s do you read?

(check)

- Union-Tribune
- Wall Street Journal
- LA Time
- USA Today
- Other: __________________________________

6.What are your favorite sections?

7. Have you ever attended a seminar?

a. Yes

b. No

8. If yes to answer 7, was it:

a. Work-related c. a college or community college course

b. Personal development d. other:__________________________

B-1
9. What did you like best about it? Why?
________________________________________________________
________________________________________________________

10. What did you like least about it? Why?

________________________________________________________
________________________________________________________

11. What was the cost (approx.)? Was it worth it to you? Why?
_________________________________________________________________
_________________________________________________________________

12. How would you rate your money management skills?

1---------------------------5------------------------10
no skills passable great – on track!

13. I know my personal net worth?

a. Yes
b. No

14. I know my business net worth?

a. Yes
b. No

15. I feel I have control of my personal finances?

a. Yes
b. No

16. I currently have a business financial plan?

a. Yes
b. No

17. I currently have a personal financial plan?

a. Yes
b. No

18. I follow and update my business plan?

B-2
a. Yes
b. No

19. My financial advisor is:

a. None c. Tax preparer e. Stock broker

b. CPA d. Certified Financial Planner f.

Other_________________

20. I know my debt coverage ratio?

a. Yes
b. No

21. I am on target to meet my financial goals?

a. Yes
b. No

22. When was the last time you spoke with a financial counselor?
a. Never c. Annually e. Monthly

b. Weekly d. Daily f. Quarterly

23. Do you want to better understand & take control of your financial future?
a. Yes
b. No

24. Where are you now? Where would you like to be?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

B-3
 Appendix C

Executive/Professional Survey
Please take a few minutes to complete the following survey. Thank you for
your time and comments.

1. What magazines do you read most often?

2. Do you use the Internet? YES NO

3. If so, what web sites do you visit most often?

4. How often do you visit the web sites?

a. Once a day c. Once a week e. Once a month

b. Several times a day d. Several times/week f. Several times a month

5. What newspaper’s do you read?

(check)

- Union-Tribune
- Wall Street Journal
- LA Time
- USA Today
- Other: __________________________________

6. What are your favorite sections?

7. Have you ever attended a seminar?

a. Yes

b. No

8. If yes to answer 7, was it:

a. Work-related c. a college or community college course

b. Personal development d. other:__________________________

C-1
9. What did you like best about it? Why?
________________________________________________________
________________________________________________________

10. What did you like least about it? Why?

________________________________________________________
________________________________________________________

11. What was the cost (approx.)? Was it worth it to you? Why?
_________________________________________________________________
_________________________________________________________________

12. How would you rate your money management skills?

1---------------------------5------------------------10
no skills passable great – on track!

13. Rank the most important to you:

___Retirement
___Home buying
___Stock market
___College fund
___Debt management
___New car
___Vacation
___Other: __________________________________

14. I know my net worth?

a. Yes
b. No

15. I feel I have control of my finances?

a. Yes
b. No

16. I currently have a financial plan?

a. Yes
b. No

C-2
17. My financial advisor is:

a. None c. Tax preparer e. Stock broker

b. CPA d. Certified Financial Planner f.

Other_________________

18. Who manages your financial plan?

a. Me c. Both e. Other:_______________

b. Spouse/significant other d. No one

19. I am on target to meet my financial goals?

a. Yes
b. No

20. When was the last time you spoke with a financial counselor?
a. Never c. Annually e. Monthly

b. Weekly d. Daily f. Quarterly

21. Do you want to better understand & take control of your financial future?
a. Yes
b. No

22. Where are you now? Where would you like to be?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

C-3