Professional Documents
Culture Documents
2018-2019
Living in an increasingly competitive society, many people have stress and mental health
disorders and some individuals do not know how to cope. Some turn towards unhealthy living
habits and tend to distant themselves from others, leaving them with no one to talk to. I have
a friend that gets very emotionally distressed when it comes to school. She is very intelligent
but doesn’t put in all her effort depending on the class due to unfavorable teachers, topics
and the students that are in that class. As a result, she cuts class and her attendance is very
poor, however, she still manages to keep her grades in exceptional condition. When in the
classes that she resents, she is not engaged and is in a depressed state of mind. She has
been trying to seek counseling from trusted staff diminishing her burdens. Stress can lead to
depression and sometimes involve impulsive actions resulting to unhealthy habits. Many high
school and college students have been caught up in anxiety from the pressure to accomplish
and from society’s “standards”. These teens and young adults of today’s generation are the
most distressed. According to an article by the National Education Association Today, a
survey found that 70% of teens say anxiety and depression is a major problem among their
peers. Because of this college students make up one of the largest groups of drug abusers
nationwide. NYU researchers have found that 38% of students reported getting drunk and
34% of students reported getting high on an illegal substance, being two times the standard
average recorded. Everyone is different when it comes to managing stress, but substance
abuse should not be a coping mechanism these young adults turn to. Many have social
withdraw and distant themselves away from others because they may not want to be a
burden to others. Copeer is aimed to assist individuals who feel alone with no one to talk to
and allow them to talk to anonymous people to resolve problems. Since not everyone may be
comfortable speaking and sharing out to close ones. The purpose of my app is so that young
adults can have someone to talk to when feeling distressed. Copeer guides this self regulated
community made up of individuals to cope with mental agony and tension collectively.
Copeer is a service business type because it is more accessible and easier to connect to
consumers since service businesses are; business to consumer. By being a service, I would
not need to go through any distribution channels. In doing this, there will not be a need to
markup and so customers will be willing to pay for this app service.
1.3
Type of Business
Ownership
The reason I chose to do sole proprietorship is because since my service is an app, I will
not need to pay anyone else to put in labor and produce products or perform other services.
Being a sole proprietor, the owner will collect all profit. This business form is not a legal entity
and so it has unlimited liabilities where one could be forced to use personal money to pay
debts. However, it is the simplest and least expensive option. The income and cost together
go on the owner’s personal income tax return making it easier to file taxes. This makes the
most sense for my business because my business is simply just an app and it is a small
business. Since I do not have any employers, I will not need to pay their salary and so there
will be no need to have another separate income. A sole proprietor is able to be created
easily and inexpensively with few formalities.
Copeer is here to comfort and encourage individuals who feel alone to communicate
thoughts, feelings and emotions, discovering multiple perspectives. By allowing young adults
and teens to communicate anonymously through the use of technology, Copeer guides this
community made up of individuals to cope with mental agony and tension collectively.
My business is socially responsible because we are focusing on caring for the people in our
communities who are dealing with mental health issues like stress, anxiety, and depression.
We are here to help individuals not feel alone and create a sense of community through the
Copeer app. A way we could give back is by personally go to high schools and present in
classrooms. Through this act of educating and informing students, they will recognize that
there are better alternatives than substance abuse, social withdraw, self harm, binge eating.
In doing this I will be directly connecting with my potential target market.
NFTE Written Business Plan
2018-2019
Having the background knowledge in business involving marketing and finance allows me to
comprehend. I have experienced the process towards producing and selling a product as well
as acknowledging what components go in to constructing a business. I have encountered
trouble with self confidence and have also dealt with excessive amounts of stress and
anxiety, so I am able to empathize with potential consumers. Being relatively close to people
who also encounter high stress levels and anxiety, I want to be able to offer peer support. I
hope the app, Copeer, can potentially help others dealing with depression and other mental
problems they may have when reaching out and talking to anonymous peers. In order for my
business to be successful, I would need to have knowledge in business, data analytics,
design, innovation, programming and copywriting.
My business belongs in the mental health industry because it is an application that helps
you relieve discomfort and stress where you can consult your problems. The size of the
mental health mobile service industry is currently very large. According to CBS News, as of
2018, the market size was valued at $28.320 billion and a projected 40% growth through
2025.There has been an increase of stress and depression levels in the recent years due to
the competitive society we live in and the stereotypes placed on certain groups causing
pressure from society. The potential target market is large with depression being the leading
cause of the world’s disabilities with people having untreated mental health disorders. Based
off of my personal data collected, I found that 92% of the students I surveyed have
experienced stress and depression. 62% of those students say that they try to find ways and
cope with stress and depression while the other 38% say they do not try to find coping
mechanisms. According to an article by the National Education Association Today, a survey
found that 70% of teens say anxiety and depression is a major problem among their peers.
Young adults and teens are the largest group that obtains the highest levels of stress due to
the pressure to achieve and the pressure from societal standards.
My potential target market consumers ages range from 16-28 since they have the buying
power. Customers are of the two genders and are primarily students in the middle to lower
class since they are busy being stressed due to school work. Living in the urban areas, their
living environment is extremely competitive because of the growing workforce and
innovations leading to the pressure to achieve. These teens and young adults are generally
oppressed, perfectionists, strive for success, over thinkers, introverts, reserved and aloof
since they are not willing to speak to peers or adults in person turning them to the Copeer
app. Items they may purchase may include alcoholic beverages, narcotics, junk foods, stress
toys, books as coping mechanisms, music apps to relieve their stress
Headspace is a direct competitor whose app is free of charge with hundreds of themed
sessions on everything from stress and sleep to focus and anxiety. Copeer is priced at an
affordable price being $2.99 which shows that individuals want to genuinely get relief. They
have a rating of 4.9 stars and customer support services respond to customer reviews
individually. They offer mini guided meditation sessions and are flexible for busy schedules.
Copeer allows users to be interactive with peers creating a community while Headspace’s
meditating exercises improve concentration, and reduce daily stress individually. Talkspace is
another direct competitor being convenient and affordable to improve your mental health.
They have a 4.1 out of 5 star rating with five social media platforms to be connected with
customers. Unlike Copeer, where we provide various anonymous peers who can empathize
with you, they match you with a licensed therapist in your state from the comfort of your
device, and message via text, audio, and video making it easily accessible and feasible for
consumers. Copeer only costs $2.99 with no additional in app purchases where as Talkspace,
you are able to download the app at no cost but their subscription service fee is $49 a week
which provides high-quality mental health care to anyone ages 13 and up. 7 Cups is an app
being a direct competitor free of charge to download with numerous hidden in-app purchases.
With a rating of 3.8 stars, They provide trained active listeners that are available to chat with
you 24/7 via text or online, there to help you through difficult times. Unlike Copeer, they
provide professional listeners, while we involve peer feedback resulting to a more comfortable
and understanding feel while communicating. Yoga for Anxiety & Stress is an indirect
competitor that is an online six week yoga course that introduces you to a suite of techniques
that can help you find calm and peace, including breath, movement, meditation, and yoga
helping you heal for a one time pay of $249. You can access your courses with a computer,
tablet or smartphone, taking your courses when and where ever you want. Your access never
expires. Videos and interactive content designed for a proven learning experience. The
Spotify music app is an indirect competitor for free of download or a premium service for $10
a month. With a 4.8 star rating, users are able to find the right music for every moment easily
NFTE Written Business Plan
2018-2019
from your phone, your computer, your tablet and more. They provide a variety of music for
any mood and can be used by people who are looking for tranquility.
Copeer is different from others because we built a self regulating community offering live
chat rooms for a younger audience where they are able to connect to an anonymous peer
dealing with similar problems alike. They can discuss their problems to relieve themselves
and at the same time offer peer support creating a sense of community. This app provides live
chat services where anonymous young adults communicate about personal problems and
give one another advice. Including a calendar for mood tracking, you are able to add pictures
for remembering the good memories during the not so pleasant times. There is also a public
space that is anonymous where anyone can share their thoughts and or emotions as well as
receiving positive, reassuring comments from peers. Being in the app store, consumers can
download the app to their own benefits. This selling method is effective because it is available
for consumers at the tip of their fingers. Certain individuals don’t appreciate when others tell
them to seek help without knowing the real reasons, while some would much rather take their
own initiative to recognize and identify their own problems and get help. Certain individuals
experience social withdraws from loved ones and this app, Peer Support, will allow for
anonymous peer support while talking about personal issues. Copeer is a service able to help
individuals by allowing them to explore methods of coping mechanisms dealing with stress,
anxiety and depression including expressing yourself and interacting with real people through
a screen.
Trends in the mental health industry will grow due to the increase in self-help and wellness
tools introduced by technology. With almost every consumer having smart devices, it enables
customers to be self reliant and seek help. Data analytics and data visualization tools help
collect, store and analyze data enabling for tracking client activities and their progress. To
help my business grow, I will introduce updates to my app every few months including
personal track records for customers for them to see their own growth progress. By including
more personalized features for my customers, it will allow them to feel more connected. In the
future, I anticipate for my app to be expanded into a website after seeing how successful the
app will be and have it’s own domain to reach out to an older range of audience since 75% of
adults in the U.S are too, dealing with financial or work related stress. With this domain, it can
help Copeer to potentially become a new form of social media in the next five years.
Because the mental health industry is currently just beginning to explode, there are more
competing businesses.Trends in the future can possibly harm my business it is difficult to
advocate for the use of health apps compared to other apps like online shopping or gaming.
With other apps intercepting with my business sales, decrease the amount of potential
customers for Copeer. Since there are already some apps made, it is becoming increasingly
harder to come up with new, innovative and original ideas without plagiarizing and repeating
the same concepts. Since this is an app required for download, consumers have to be
knowledgeable and take the initiative to know that they need to get help. Not everyone will
have the initiative to find help and so not everyone with stress, anxiety or depression will seek
help using my app, especially since there are also many other coping mechanisms out there
for individuals. I would need to be more informed on the different types of apps already
inexistence and how to efficiently and effectively build an app suitable for consumer needs.
NFTE Written Business Plan
2018-2019
Materials
None $0 0 0 $0
Labor
Cost of Labor per Hour Time (in hrs) to make one Total Labor Costs per Unit
unit
$0 0 $0
COGS/COSS
$0 $0 $0
Commission $0.90
Packaging $0
Other $0
Total Other Variable Expenses $ $0.90
Total Variable Expenses $0.90
Interest $0 None
Depreciation $0 None
FIXED OPERATING
EXPENSES
3.7
Startup Expenditures
I can personally pay $1500 out of pocket for what I need to pay for my start-up expenses. I
will need to make about $27,000 for start up expenses.
This app is aimed towards young adults and students ages 16-28 in the middle to lower
class. Being students, they are put under large amounts of pressure and so they experience
stress, and peer pressure from peers leading to anxiety. Therefore, I will be using the
instagram and spotify app to target my customers since these apps all have similar
demographics. Living in urban areas they may tend to over thinkers, introverts, have low self
esteem and confidence levels due to the rapidly growing economy and innovations. Copeer is
an anonymous communication messaging app where young adults can talk out personal
problems and share advice with peers. A mood tracking calendar will help users record their
emotions, moods, and scrapbook memories by uploading images. My app is aimed to
emphasize the importance of communication and how it can help solve many problems. With
the youth being exposed to technology, this allows for my app to be an additional source of
support using technology. This app is available for purchase in the app store for both Apple
and Android users providing easy access. Copeer’s selling price is just $2.99 for emotional
support. Being priced at $2.99, it shows that the users that download the app honestly want to
improve their own mental health which ensures a positive space for individuals to express
emotions. The app’s commission is $0.90 cents and hence, we have a contribution margin of
$2.09 per unit. With my fixed expenses valuing at $7,719.25, I would need to increase the
selling price so I can break even and gain profit.
I will be advertising on Instagram and Spotify. Using social media like Instagram app, is
effective to use and target these young adults who commonly may have this app downloaded.
Also, using the Spotify music app, it is ideal for our app to promote there since music is a
calming mechanism. People with anxiety and depression will most likely be listening to music
in hopes to help decrease their levels of stress. By including the app layout, features and
functions of the app, hopefully it will intrigue and draw in the attention of consumers. This
visualization will help the potential customers be informed on what they are getting out of a
$2.99 app. It will show the layout and feel of the app so people will be interested and see
whether it suits them or not. Being a sole proprietor, I will personally go to high schools and
present in classrooms educating and informing students that there are better alternatives that
substance abuse, social withdraw, self harm, binge eating. In doing this I will be directly
connecting with my potential target market. Since I will be going to schools and advocating for
the use of communication to relieve stress and mental problems, we can use posters to put
up in school settings, and possibly public bus stops where young adults will most likely be
commuting through.
Instagram and Copeer have similar user demographics. According to The Statistics Portal,
Instagram users that are ages 13-34 in total are 71% of the app’s users out of 500 million
users. The music app, Spotify is effective for my app to advertise on because according to
The Statistics Portal, their listener ages that range from 18-34 is about 55% out of their 200
million active users. So it would make sense to use this app and advertise since these
students and young adults are most likely listening to music to destress and calm their
nerves.
4.4
Sales Estimates
Since I need to sell approximately 3,694 units in order to break even per month, I will need
to have good marketing strategies. Instead of having only one platform to advertise off of, I
will be using two. By doing this, it will help to generate more efficient sales based on my
target market. I need to sell approximately 3,694 units in order to break even per month
based on my calculation from fixed and variable expenses. Instagram users that are ages
13-34 in total are 71% of the app’s users out of 500 million users.Spotify has 200 million
users and 55% of their users are ages 18-34 and my app targeting consumers ages 18-26.
Based on that data, approximately 350 million units could be sold. Based off of my personal
data collected, I found that 92% of the students I surveyed have experienced stress and
depression. 62% of those students say that they try to find ways and cope with stress and
depression while the other 38% don’t even try at all. This shows that it is highly feasible for
my app to be purchased by students ages 14-18. Depending on seasons, because of school
sessions, my app will be thriving during the fall and spring seasons since school is a very
large stressor. During the summer and winter, there will be less sales and a decrease in
active users due to holidays and breaks where people will be less stressed and relaxing
instead. I can lower my selling price during the breaks and summer seasons so there will be
more sales since there may be a decrease in sales during those times.