Section 6

Team 3

Fall 2022

Business Plan

Business Name: OrgoGlove

Business Idea: Biodegradable disposable gloves at an affordable price.

Team Members:

Sam Clark Samuel A. Clark clark6sa@dukes.jmu.edu

Savannah Harris Savannah Harris harri4sr@dukes.jmu.edu

Victor Hartley Victor A Hartley hartleva@dukes.jmu.edu

Mackenzie Keeling Mackenzie Keeling keelinmc@dukes.jmu.edu

Deven Singh Deven Singh singhda@dukes.jmu.edu

Yusuf Niamati Yusuf Niamati niamatya@dukes.jmu.edu

Executive Summary
OrgoGlove
Victor Hartley
212 Nuway Packing Rd, Forest City, North Carolina, 28043
Phone: 443-878-3343
E-mail: Hartleva@dukes.jmu.edu

Management:
Titles:
CEO
Sales Manager
General and Operations Manager
Production Supervisor
Industry: Medical Glove Manufacturing; NAICS
Code 339113
Number of Employees: 42
Amount of Financing Sought: 1.5 million from
bank loans (9% interest), 1.5 million in common
stock, 600,000 from private equity
Investment Sources:
-Issuing Common stock
-Corporate loan from bank
-Private equity (100,000 per owner)
Use of Funds: Investing in machines to
manufacture our product, paying rent for an
expensive, large facility, and getting our production
started.
Product/service selling price: $ 5.19 per box of
gloves sold wholesale(year 1) with 10 cent
increases per year. 9.99 retail price for B2C.
Business Description: Making biodegradable
gloves at an affordable price to sell to medical and
restaurant suppliers and, eventually, directly to
customers.
Products/Services:
Our product is a versatile, biodegradable glove
made from all natural inputs including Calcium
Nitrate, Polylactic acid, and soybean oil, all sourced
from the United States. Our projected sales for
year 1 are 877,500 boxes at a price of $5.19 to
cover our variable cost of $3.02 per box, and high
fixed cost from beginning our operations.
Competitive Advantage:
Our product is completely biodegradable which
sets it apart from typical glove manufacturers, as
well as lesser biodegradable glove manufacturers
like Ecoglove. Our product biodegrades in 10-20
months in landfill conditions, but that period
shortens to only 15 days in ideal composting
conditions. Our product is ensured to be sterilized
and durable, allowing it to be used in hospitals and
kitchens. Though our product is more expensive
than traditional gloves, it is more affordable than
biodegradable gloves in the market.
Markets:
Our largest customers will be suppliers to the food
and healthcare industries, but we also have B2C
segments “fast-track families” and “old-time
media” (Claritas). There are 1,230 hospitals in our
target area (MA-FL), which isn’t expected to grow,
and 210,345 restaurants in our area, growing at
.45% a year. Our B2C market size is 5,229,363
households, but uses significantly less gloves than
our B2B .

Distribution Channels: For B2B, our product is shipped to distributors who then deliver to firms who use our
product. In our 3rd year of operation, our product will be available to consumers through amazon.

Competition: Our main competitors are non biodegradable glove manufacturers such as TopGlove and Sysco, but with
the trend and need for our society to be more environmentally friendly, we have a competitive advantage over traditional
glove manufacturers, and price cost is competitive with them for the quality of product we provide. We also are
competing with other biodegradable glove companies, in which we sell our product at a lower cost than them, offer bulk
and wholesale, offer more versatility, and biodegrade quicker than companies like Ecoglove.

Financial Projections (Unaudited):

2023 2024 2025 2026 2027
Revenue: $4,554.225 $5,415.638 $9,969.824 $11,833.045 $12,141.003
(dollars in thousands)
EBIT: -$627.939 -$95.548 $3,041.767 $4,442.552 $4,064.507
 Our company has developed affordable, biodegradable gloves made from polylactic

acid (PLA), a biodegradable polyester derived from corn, sugarcane and other starches (CDC

2021; BioPak 2019). The COVID-19 pandemic has allowed the medical glove manufacturing

industry to grow substantially, with 300 billion gloves being used in the medical industry

each year. 80 million of these are made from synthetic rubber, contributing to landfill waste

more than ever (Foundation 2022). As concerns of business’s social responsibility grow,

issues of sustainability within the industry are becoming more prevalent, presenting an

opening in the market. Our business strategy is both focus-differentiation and focus-cost, as

these are the aspects we greatly position our company on. A sterile, affordable,

biodegradable glove such as our product not only fulfills safety needs of consumers, it also

allows our consumers to support a cause they are passionate about. We provide a product

that is inherently authentic and trustworthy, creating value for consumers as well as

investors. Our slogan, “All gLOVE, Zero Waste,” is indicative of this and demonstrates our

commitment to supporting the environment. Moreover, the values presented by our

branding are a reflection of our values and culture as a company.

A competitive advantage our company has over other competitors in the industry is

the incorporation of completely biodegradable materials in our manufacturing process which

can be bought in bulk at a cost-effective price. Our product is also composed of PLA, rather

than latex/synthetics, which have similar qualities, allowing us to utilize the same

machinery. PLA is then used in addition to soybean oil, a biodegradable plasticizer, and

calcium nitrate to help form the gloves in shape and coagulate. One company, Ecoglove, has

brought a biodegradable product to the market, for $14.30 per a box of a hundred gloves,

which is too expensive for many businesses to consider, according to our survey

respondents. Ecoglove, per their website, takes 90 days to biodegrade under composting

conditions, and is only recommended to be thrown in compost. A competitive advantage we

have over Ecoglove in this regard is that our product can be disposed of both in the garbage

or, if it's available, compost. According to the NC State Biosource Department, PLA, our
main (and slowest biodegrading) input, takes 15 days to biodegrade under ideal composting

conditions of soil with high nitrogen, while under regular landfill conditions it takes 10-20

months to biodegrade. Additionally, under regular compost conditions, it takes 3-4 weeks to

biodegrade which continues to be quicker than Ecoglove (Ncube, L. K, Et al. 2020).

The location of our facility also presents benefits. Forest City, North Carolina has an

abundance of blue-collar workers willing to be trained for work. Forest City resides in

Rutherford County which has 64,586 residents, 27,000 of which are employed, and 19.5%

of which are college educated (Rutherford). This area has a very low cost of living, and our

company has established a starting wage of $15 an hour. This makes the job very desirable

and allows us to select the best possible prospects for work in our factory. There are two

large wholesalers nearby, Owens & Minor and Medline, who will be our channel members

and will account for our distribution to business customers in the healthcare industry;

Performance Food Group will handle distribution to business customers in the food industry.

North Carolina also provides immense tax benefits: their current corporate tax rate is 2.5%

and will be 0% by 2030 (Goldman 2022). Distribution wise, our location is a short distance

from our B2B target segment of businesses residing in large, progressive, metro areas such

as Raleigh-Durham-Charlotte, Hampton Roads-Richmond, and a day's drive from most of

the Bosh-Wash Metro area. Additionally, it is within a two day’s drive to most parts of the

country allowing us to reach our target market of consumers worldwide.

We maintain steadily growing revenues between 2023 and 2027, and outperform our

competition in many other key areas. Our revenues start at $4.55 million in year 1 and

gradually increase to $9.88 million by year 5, with net income growing from a $-721,718

loss to $1.67 million profit by year 5. Our gross profit margin, net profit margin, and

inventory turnover are all significantly higher than that of our competition, with the industry

averages being 40.02%, 8.00% and 6.44 respectively, and our ratios being 72.93%,

16.85%, and 29.85 respectively by year 5.

Exhibit #1: Management Organizational Chart
 Exhibit #2: Pay, Deductions, Benefits, Knowledge, Skills, Abilities & Motivation
Position CEO General Operations Sales Sales Reps Customer Production Factory Workers
Manager Manager Service Rep. Supervisor

# 1 1 1 5 1 3 (Yr 1-2); 4 (Yr 30 (Yr 1-2); 40 (Yr

3-5) 3-5)

Salary/Wage $208,000(1.03 $97,970(1.03% $127,490(1.0 $78,790(1.03 $60,360(1.03% $60,600(1.03% $15/hour(raise of

% annual annual raise) 3% annual % annual annual raise) annual raise) half dollar a year)
raise) raise) raise)

Benefits Social Security, Social Security, Social Social Social Security, Social Security, Social Security,
Medicare, Medicare, Workers Security, Security, Medicare, Medicare, Medicare, Workers
Workers Comp, Comp, Unemployment Medicare, Medicare, Workers Comp, Workers Comp, Comp,
Unemployment Insurance, Vacation, Workers Workers Unemployment Unemployment Unemployment
Insurance, Health Insurance, Comp, Comp, Insurance, Insurance, Insurance
Vacation, 401k Plan Unemploymen Unemploymen Vacation, Health Vacation, Health
Health t Insurance, t Insurance, Insurance, 401k Insurance, 401k
Insurance, Vacation, Vacation, Plan Plan
401k Plan Health Health
Insurance, Insurance,
401k Plan 401k Plan

Skills Judgment & Coordination, Social Active Active Listening, Management of

Decision Monitoring, Time Perceptivenes Listening, Critical Thinking, Personnel
Making, Management, s, Speaking, Speaking, Judgment and Resources,
Complex Management of Coordination, Negotiation,
Decision Making, Speaking, Time
Problem Material Resources, Critical Persuasion,
Solving, Critical Systems Analysis, Thinking Social Complex Management,
Thinking, Systems Evaluation Perceptiveness Problem Solving, Coordination,
Coordination, Instructing, Monitoring,
Time Coordination, Operations
Management, Negotiation,Time Monitoring,
Operations Management Quality Control
Analysis
Analysis

Knowledge Administration Administration and Sales and Sales and Personnel and Production and Mechanical
& Management, Management, Marketing, Marketing, Human Processing,
Law & Production and Customer and Customer and Resources, Administration
Processing, Public Personal Personal
Government, Administration and
Safety and Security Service, Service,
Public Safety & Communicatio Communicatio and Management,
Security, ns and Media ns and Media Management, Personnel and
Economics & Customer and Human
Accounting Personal Service Resources,
Education and
Training

Abilities Oral Information Ordering, Oral Oral Oral & Written Information Control Precision,
Comprehension Problem Sensitivity, Comprehensio Expression, Comprehension, Ordering, Manual Dexterity,
, Oral Speech Clarity n, Oral Speech Deductive Flexibility of Information
Expression, Clarity,
Expression, Reasoning, Closure, Manual Ordering,
Fluency of Deductive
Deductive Ideas, Reasoning, Problem Dexterity Perceptual Speed
Reasoning, Originality Problem Sensitivity,
Visualization, Sensitivity, Speech
Speech Clarity Originality Recognition

Motivation Social Medicare Unemployment Workers 401k Paid Health Insurance

Security Insurance Comp Vacation

Amount 6.2% up to 1.45% for 6% of first $7,000 $1.46 for $1.66 per $3.33 per $3.49 per hour worked(only
$147,000 both ($420) for FUTA & every $100 hour hour for salaried)
employer & 2.85% of first $28,000 of payroll worked(only worked(for
employee ($798) for SUTA for salaried salaried
equaling a employees) employees)
2.9% total
 Exhibit #3: Market Segmentation Analysis/Target Market Selection

Segment Segment #1: Health Care Segment #2:Restaurant Segment #3: Fast-Track Segment #4: Old-Time Media
Name Industry (Miami-Boston and industry (Miami-Boston and Families
surrounding metro surrounding metro
areas/states) areas/states)

Size 1,230 hospitals in target area 210,435 total restaurants in 2,364,678 households 2,864,685 households
target area

Growth Number of hospitals not 3.2 % expected growth from -1% expected growth from 30.48% expected growth from 2020
Projection expected to increase, but 16% 2019 to 2026 2020 to 2030 to 2030
growth of employees is
expected between 2020-2030,
market share for industry is
growing at a 7.62% annual
rate

Description Demographics: Healthcare
officials (nurses, surgeons,
dental workers, nursing home
employees, hospital
administrators).
Geographics: mainly states
that legislate for sustainability,
(ex: California, New York) but
all hospitals and healthcare
facilities.
Lifestyle/Psychographics:
promote sustainability
Purchasing Behavior:
Hospitals usually focus on low
cost. The Sentara Leigh
Orthopedic Administrative
director is willing to pay 2
cents extra per pair for
biodegradable gloves, and the
current nitrile gloves they use
are 8 cents a pair (price
increased due to COVID).
Sentara Leigh goes through 7
million pairs of gloves a year.
Demographics: restaurants
that handle large volumes of
food. Geographics: mainly
restaurants that reside in
states that legislate for
sustainability.
Lifestyle/Psychographics:
upscale, quality restaurants
that are also wanting to be
more eco-friendly.
Purchasing Behavior:
focused on low cost.
Demographics: people
between 35-54 with an
upscale income, high assets,
average of 3 technological
devices, and a college degree.
Geographics: rural
households.
Lifestyle/Psychographics:
this segment leads busy lives
centered around children. They
own a GMC and listen to
mainstream rock. Purchasing
Behavior: tend to shop at
sporting goods stores such at
Cabelas, eat at Qdoba, indulge
in their childrens' interests,
and take vacations.
Media Habits: Uses Fantasy
sports sites/apps.
Demographics: Mix of urban and
rural homeowners. Aged 65+, upper
midscale income with low tech.
Mostly retired without children in th
e household. Geographics:
Nationwide.
Lifestyle/Psychographics: Does
not use a smartphone, uses
XFINITY Voice/Comcast for phone
services. Keeps a landline for fax.
Purchasing Behavior: shop locally
at grocery and superstores such as
Kroger, Costco, and WalMart.
Media Habits: Reads email on the
desktop, watches TV using DVR 26+
hours per week.

Priority Level 1 2 3 4

Justification Healthcare industry uses
disposable gloves more than
any other industry, accounting
for over 87.6% share of the
global revenue in 2021, and
their consumption will continue
to grow steadily with the
industry's growth rate. They
go through thousands of
gloves a day, so even a small
profit margin on each pair
would generate a larger profit.
Hundreds of thousands of
gloves are used by the global
food industry every year.
They are used to prevent
hand contact with food and
ensure the quality of the
product being served. In the
near future there will likely be
regulations on plastic use,
and since many people have a
latex allergy an alternative
that is both eco-friendly and
latex-free will be in high
demand.
Outside of businesses and Health-conscious, elderly folks that
organizations, people like to use gloves for everyday activities as
use disposable gloves for well as personal protection from
household cleaning. disease and germs. There are
Households with owners 2,864,685 households in this
between 35-54 years old do a market with a growth projection of
lot of their own cleaning 30.48%.
because it saves them money,
and they are fit and active
enough to do it themselves.
People within this age range
have kids, and cleaning up
messes is typical, so
marketing our gloves to this
segment can gain us a lot of
potential customers.
Additionally, consumers are
just as, if not more, likely to
take environmental concerns
into consideration over
businesses.
 Exhibit #4: Market Quantification

Year 2023 2024 2025 2026 2027

B2B Total Market Potential (No. of Customers)* 211,665 212,653 213,640 214,628 215,616

B2C Total Market Potential (No. of Customers)* 0 0 5,490,600 5,577,679 5,664,758

B2B Market Share** 0.48% 0.48% 0.48% 0.48% 0.48%

B2C Market Share** 0 0 0.80% 0.80% 0.80%

B2B Annual Purchase Amount (boxes/year)*** 1168 1179 1190 1201 1212

B2C Annual Purchase Amount (boxes/year)*** 0 0 11 11 12

B2B Annual Unit Sales 877,500 1,023,750 1,220,560 1,237,659 1,254,863

B2C Annual Unit Sales 0 0 339,440 504,334 513,145

Wholesale Price $5.19 $5.29 $5.39 $5.49 $5.59

Retail Price**** x x $9.99 $9.99 $9.99

Annual Revenue from B2B Transactions $4,554,225.00 $5,415,637.50 $6,578,818.40 $6,794,747.91 $7,014,684.17

B2B % of Total Sales 100% 100% 68.31% 59.54% 59.45%

Annual Revenue from B2C Transactions $0.00 $0.00 $3,391,005.60 $5,038,296.66 $5,126,318.55

B2C % of Total Sales 0% 0% 31.69% 40.46% 40.55%

Total Annual Revenue $4,554,225.00 $5,415,637.50 $9,969,824.00 $11,833,044.57 $12,141,002.72

*For businesses, we are assuming the yearly growth rate of the healthcare industry and the restaurant industry are 1.6% and 0.46% respectively. For consumers, we are
assuming our target segment is growing 3% each year. These assumptions are based on data gathered in our market segmentation, which was derived from Claritas.com and
the U.S. Census Bureau. In years 1 and 2 we are strictly selling to healthcare and restaurant suppliers, and in year 3 we will begin selling to consumers.

**For our B2B transactions for hospitals and healthcare facilities, we will be distributing our product through Owens & Minor, a medical supply company that supplies to every
single Sentara Hospital, as well as Medline, who distributes to many healthcare facilities on the east coast. We are confident that we are able to reach at least 75% of our total
market potential in healthcare facilities and hospitals. 75% of our 1,230 total market potential of hospitals is 923 facilities, combined with 100 sales to restaurants per year
equates to 1,023 total B2B sales each year, which is 0.48% of our total market potential. We will also be utilizing 2 of our salesmen to advertise and sell directly to small,
privately owned restaurants within our region. The average salesman will reach five prospects per week, and with a 20% closing rate, will make one sale per week. 50 working
weeks worth of time with one sale per week for each salesman will equate to 100 sales to restaurants per year.

***The data used in our annual purchase amount calculations, for both businesses and consumers, is based on the data collected in our surveys. We took an average of how
many gloves each business/consumer uses per day, and then divided that by 100 (gloves/box) to determine how many boxes each company/business uses per day. Multiplying
that by 365 gives us how many boxes per year the business/customer uses, and as such purchases. These figures were then multiplied by the respective growth rate for the
industries/segments to determine how many more boxes per year they will purchase (although this also assumes that the purchase amount will increase proportionately with
the increase in population/number of businesses based on the growth rate).

****For our purposes, we are assuming 100% of our wholesale purchases will come from suppliers to businesses, and 100% of retail sales will come from our consumers, and
we are assuming that the percentage of sales from both businesses and consumers will be proportionate (that is not to say equal to) with our market share in each of those
areas.

Year Average Price Total Fixed Costs Unit Variable Cost BEP in Units
2023 $5.19 $3,026,322.00 $3.02 1,432,654
2024 $5.29 $3,154,594.00 $2.52 1,138,872
2025 $7.69 $3,588,959.00 $2.43 1,232,026
2026 $7.74 $3,691,176.00 $2.36 1,204,190
2027 $7.79 $3,739,720.00 $2.40 1,169,977
Exhibit #5: Positioning/Competitive Analysis

Positioning Statement:

Our brand, OrgoGlove, provides a sustainable and affordable glove for both

consumers and businesses such as hospitals and restaurants. This product solves the issue

of waste from disposable gloves, as 300 billion gloves are used a year creating a massive

amount of pollution, most of which takes decades to biodegrade. With this massive issue, an

affordable, environmentally friendly alternative is needed before irreversible damage is done

to our planet. Ultimately, by providing the best solution to this issue, we will sustain this

competitive advantage through brand loyalty.

 Exhibit #6: Marketing Mix

Product Branding: Brand Name: OrgoGlove; Slogan: "All gLOVE, Zero Waste;" Logo: see front page; URL: www.OrgoGlove.com.
Our company creates value through each of these aspects by emphasizing our stance on sustainability. We want to provide a
product that is inherently authentic, trustworthy, and promotes love for the environment, and our slogan is indicative of that.
Additionally, by incorporating a sea turtle into our logo, we align ourselves with an already established movement, Save the Turtles,
further demonstrating to consumers our commitment to our mission.

Pricing

2023 2024 2025 2026 2027

Unit Variable Cost $3.08 $2.52 $2.43 $2.36 $2.40

Wholesale Price $5.19 $5.29 $5.39 $5.49 $5.59

Retail Price x x $9.99 $9.99 $9.99

Justification: We will utilize a skimming pricing strategy: our prices are close to the maximum of what both businesses and
consumers are willing to pay (based on survey results) in order to manufacture our sustainable product while creating a profit
margin. Our wholesale price is low enough to be desirable for suppliers to purchase, while being enough to cover our high fixed cost.
We also based our retail price off similar alternatives sold on Amazon and other websites to consumers. The price increases
incrementally each year to account for inflation and to maintain our profit margin.

Distribution Strategy:
$5.19 is on the slightly high end for prices, but competes with other wholesalers for non-biodegradable gloves, and beats every
biodegradable glove we can find.For distribution to businesses, our company will cover the UPS transportation costs to our
wholesalers, and the final delivery to businesses will be handled by the corresponding wholesaler. For distribution to consumers
(beginning year 3) our company will cover the UPS transportation costs to Amazon warehouses, and the final delivery to consumers
will be fulfilled by Amazon. Our company will be partnered with wholesalers Owens-Minor and Medline for hospitals and other
healthcare services that will be utilizing our product. Performance Food Group will be supplying our product to restaurants, and our
sales team will look for other local restaurant supply companies to be wholesale partners.

Promotional Strategy: We want to demonstrate our product as disruptive, and by providing an affordable, eco-friendly product,
we show consumers that change is possible. This will be communicated to our consumer markets through campaigns, and it will also
be demonstrated in trade shows for healthcare and restaurant supplies.

2023 2024 2025 2026 2027

Total IMC Budget $100,000 $100,000 $100,000 $100,000 $100,000

Campaign #1 Facebook Facebook Facebook Facebook Facebook

Campaign #2 Google Display Google Display Google Display Google Display Google Display

Campaign #3

Description of Campaigns: Campaigns targeted at business consumers will often display a responsibility and bandwagon appeal
as the purpose behind businesses is at the forefront of consumers’ minds. Campaigns for consumer markets will display an
emotional appeal showing the devastating impact of plastic glove usage/waste while promoting the sustainability of our product. We
will also run a PR campaign supporting Parkinson’s research, targeting our elderly consumer demographic . We will also have Google
Display Ads with our logo and slogan to get clicks from prospective customers.

No. of Salespeople 5 5 5 5 5

Compensation Method: $78,790 Salary + 10% Commission

Professional Sales Management Plan: For B2B, we will utilize a push strategy in which salespeople pitch our product and
demonstrate its efficiency, creating demand for suppliers. Business suppliers have a wide variety of clients and our salespeople will
increase awareness for our product to companies they supply. For B2C, we will utilize a pull strategy in which campaigns will be
targeted at consumers, creating demand for retailers, such as Amazon, where our product will be sold.
 Exhibit #7: Process Map

For each major quality step:

Quality Step What is measured? How often? How will you ensure quality?
Q1 Conformance Whenever we get materials. For Pick a random sample for each item and Inspect
materials like calcium nitrate packaging to make sure materials sent in have been
and PLA, it would be Bi-Monthly packaged and stored correctly prior and during
or Monthly. Soap, Bleach, and shipping. Ensure proper amounts of each good is
Soybean oil are weekly. delivered. Check expiration dates on everything, check
for holes in packaging, etc. Inspect odors of
materials(except bleach) to make sure it is still
suitable for use. Store each material in appropriate
conditions and ensure they are stored in a dry,
well-ventilated area.
Q2 Conformance Every time 100 gloves are pulled The workers pulling the gloves off the molds on the
off the machine machine will count 100 as they go. This will prevent
the people boxing from having to count out 100 gloves
individually and slowing the overall process

Q3 Performance, After every 15 minute cycle on Inflate each glove with an air hose to check for holes
durability the glove machine, our workers in the glove, ensure uniform texture and size, and
will sample 10 gloves make sure the glove has desired elasticity and
toughness.

For each critical resource:

Critical Resource Brief Description Unit Cost (in appropriate unit) How
many?
CR1 Industrial furnace(GreenVinci) $5,200 1
CR2 Glove making machine(BAIWEI BW-II Surgery $450,000 3 year
Hand Gloves Making Machine) 1-2 and 4
year 3-5
CR3 Factory workers $15 per hour 10 per
machine

Briefly describe your main facility - provide information about layout and dimensions.

Exhibit #8: Quality Assuranc

 Exhibit #8: Quality Assurance

Indicate the Why is this dimension important, given your industry & Identify the Quality
Dimensions of Quality target market? Step(s) on the Process
on which you will Flowchart / Service
focus. Blueprint to which this
corresponds.
Conformance This dimension is important because to manufacture high quality, Q1- Receiving the
biodegradable gloves, our raw materials must meet specifications materials and Q2- Pulling
and must be of good quality. We Also need to make sure each the gloves off the
box contains 100 gloves machine and making sure
there is 100 per box Q3-
making sure each glove
has no defects
Durability This dimension is important because for customers to want to Q2-gloves can’t have
buy a glove that is suitable for medical and kitchen use, the obvious defects prior to
glove would need to be able to withstand usage without going to quality control.
breaking, as breaking increases risk for contamination. Q1- if the materials are
defective, our product
won’t be durable Q3-
making sure gloves can
pass quality control
Performance This dimension is important because for our gloves to be Q2-gloves can’t have any
desirable for customers, they have to be able to be used for a obvious defects before
variety of purposes such as surgery, medical exam, and cooking. being sent to quality
Due to its toughness, it will also be more than suitable to control . Q1- making sure
perform in these areas . Our product has an innovative edge materials are adequate.
over other biodegradable gloves as it doesn’t need to be put into Q3-making sure gloves
compost to completely biodegrade and can be used for more have no defects and can
purposes. perform

Use the space below to describe any additional Proactive Quality Assurance Plans that are not connected to
a specific activity on your Process Flowchart / Service Blueprint.
Making sure our employees are trained to operate the equipment and know how to properly check the gloves for desired
quality. This will all be ensured through proper training. Additionally, we will choose suppliers that produce high-quality
materials which will allow our gloves to be high-quality when manufactured, and the materials we use for our gloves need
to be effective and eco-friendly.
Describe any reactive quality assurance plans. Include a recovery plan should a customer receive poor
quality goods and/or services.
Offer a 50% discount on the next bulk order for B2B and offer the next box free for B2C along with a full refund.

If you will utilize a quality/process improvement methodology, indicate which:

☐ NA TQM ☐ Six Sigma ☐ ISO ☐ Benchmarking
☐ Other (specify what):
Note: You will not use all of them; only those with highest relevance.
Provide a specific explanation of how your chosen quality methodology relates to your business and how it
will be applied:

Six Sigma relates to our business in that our process design keeps the occurrence of defects low, along with our costs,
which improves customer satisfaction and will be achieved through our quality steps of ensuring our raw materials meet
expectations, and inflating our gloves with pressurized air to ensure no holes or defects are present. This quality
improvement model will be implemented from top management all the way down to our factory workers and will be
continuously improved. Our factory workers will be trained to adequately examine samples of gloves in each batch by
learning how to detect a hole in the material and assuring that each glove is durable and the correct size. They will be
incentivized with high hourly wages and being well treated.
 Exhibit #9A: Inventory, Suppliers and Distribution

Raw Material Inventory & Supplier Selection

Item(s) Supplier Name & Reason for selecting Supplier Frequency of System of Mode(s) of
Location (City, State, this supplier lead time replenishment Management Transportation
Country) (in days) (in days)
Polylactic Advanced Extrusion Sells PLA in the form 21 45 Fixed Quantity ☒ Highway ☐
Acid (PLA) Rogers, MN USA needed at a discounted Rail
bulk price. Company is a ☐ Waterway ☐
polyester roll stock Air
manufacturer and sells
high quality
products.Offers shipping
Soybean Vigon International Sells soybean oil in bulk 5 30 Fixed Quantity ☒ Highway ☐
Oil East Stroudsburg, PA at a cheap price and is Rail
USA relatively close to our ☐ Waterway ☐
plant, can quickly ship to Air
us
Calcium Noah Chemicals One of the few suppliers 21 120 Fixed Quantity ☒ Highway ☐
Nitrate San Antonio, TX USA that sells Calcium Nitrate Rail
in bulk and offers ☐ Waterway ☐
affordable shipping. Air
Bleach Level 7 Chemical Fast lead time, cheap 5 150 Fixed Quantity ☒ Highway ☐
Conway, AR USA shipping, and low prices. Rail
They ship to us. ☐ Waterway ☐
Air
Soap RS Quality Products Fast lead time, cheap 4 30 Fixed Quantity ☒ Highway ☐
Allentown, PA USA shipping, low prices, and Rail
is relatively close to our ☐ Waterway ☐
plant. They ship to us. Air

Finished Goods Inventory

Finished goods Frequency of Average level of Finished Amount of safety stock on site
produced shipping goods inventory on site
(per hour) finished goods
At the end of Year 1 407 Monthly 36,964.76 334.76
At the end of Year 2 474 Monthly 43,049.87 389.87
At the end of Year 3 565 Monthly 51,314.72 464.72
At the end of Year 4 573 Monthly 52,041.29 471.29
At the end of Year 5 581 Monthly 52,767.87 477.87

What is the lifespan of your finished goods ☒NA

inventory?

How will you manage the perishability of ☒NA

Finished Goods Inventory?

Distribution

Name of transportation Reason(s) for selecting this provider/carrier Frequency of Pick

provider/carrier Up / Drop off
UPS Freight Fast, reliable, and affordable shipping that can move our items in Once a month
bulk. For mostly B2B purposes
Amazon Convenient and practical for B2C transactions as many consumers Once a month
shop on amazon, and with organic search engine optimization our
product can become a top result under the “disposable glove”
search in later years. Amazon is also affordable to do business with
and ships very quickly to our customers
 Exhibit #10: Capacity
Deman Capacit Utilizat Hours Bottleneck name How will you manage
d y ion of and description /adjust the bottleneck to
(per (per (%) Opera ensure you can
hour) hour) tion appropriately serve or
supply your customers?
At the end of Year 1 407 500 81.40% 9 Glove making N/A
machine
At the end of Year 2 474 500 94.80% 9 Glove making N/A
machine
At the end of Year 3 565 667 84.71% 9 Glove making Purchase another glove
machine making machine
At the end of Year 4 573 667 85.91% 9 Glove making N/A
machine
At the end of Year 5 581 667 87.11% 9 Glove making N/A
machine

Show your calculations for the following parameters at the end of Year 1.
Hours of Demand/month Demand/ho Capacity/mont Capacity/hour Utilization
operation/month ur h
180 73,125 407 90,000 500 81.40%

Additional resources (beyond your bottleneck) must be allocated appropriately to support operations.
Identify which resources have a significant impact on capacity at start up and describe why these are
appropriate amounts of resources at start up.
Resources that have significant impact on capacity at start up are our labor workers, the amount of raw materials we
have, and the industrial furnaces we need in order to melt the PLA. We will have 30 labor workers in years 1 and 2
because we need 10 employees per machine in order to operate the machine and perform quality assurance. We will
need 40,000 lbs of PLA, 1,320 gallons of calcium nitrate, 55 gallons of bleach, 55 gallons of soap, and 192.7 kg of
soybean oil. These are appropriate amounts because they will fill up each of our dipping tanks and we will last us for a
decent length of time. Finally, we will need 3 furnaces to melt 759.375 lbs of PLA daily because each furnace has a
melting capacity of 180 kg per hour.
Describe adjustments you will make as resource requirements vary with time. Be specific regarding which
key resources (beyond your bottleneck) will be adjusted, when and how. If you will make multiple
adjustments, explain each.
Since our demand goes up every year, we need to be able to produce more gloves to meet this demand. An adjustment
we make is hiring more labor workers after we purchase another glove making machine. We will start with 30 workers
the first 2 years and will hire 10 more after the purchase of the additional machine in year 3. We need 10 employees per
machine. As well as hiring more workers, we need to buy more raw materials to support our increased production from
the new machine. While our per-unit use of raw materials doesn’t change, materials like bleach and soap have to be
purchased in larger quantities to fill up the tubs on the new machine, and we will get larger or more frequent shipments
of PLA, Calcium Nitrate, and Soybean oil.
How will you manage seasonality? If your organization does not have seasonal
demand, please check this box: ☒NA
 Exhibit #11: OrgoGlove Pro Forma Income Statement

Date Ending Date Ending Date Ending Date Ending Date Ending

2023 % 2024 % 2025 % 2026 % 2027 %

100.00 100.00
Sales Revenue $4,554,225 100.00% $5,415,638 % $9,969,824 100.00% $11,833,045 100.00% $12,141,003 %

Materials Cost $537,908 11.81% $627,559 11.59% $956,280 9.59% $1,067,842 9.02% $1,083,789 8.93%

Direct Labor Cost $1,057,810 23.23% $1,091,852 20.16% $1,501,192 15.06% $1,546,582 13.07% $1,591,972 13.11%

Total Cost of Goods Sold $1,595,717 35.04% $1,719,411 31.75% $2,457,472 24.65% $2,614,424 22.09% $2,675,761 22.04%

Gross Profit $2,958,508 64.96% $3,696,227 68.25% $7,512,352 75.35% $9,218,621 77.91% $9,465,242 77.96%

Operating Expenses

Indirect Labor Cost $1,240,672 27.24% $1,274,198 23.53% $1,373,017 13.77% $1,410,507 11.92% $1,449,119 11.94%

Advertising and Promotion Expense $- 0.00% $ - 0.00% $100,000 1.00% $100,000 0.85% $100,000 0.82%

Rent Expense $1,260,000 27.67% $1,260,000 23.27% $1,260,000 12.64% $1,260,000 10.65% $1,260,000 10.38%

Commissions Expense $602,448 13.23% $718,212 13.26% $874,592 8.77% $905,409 7.65% $936,818 7.72%

Insurance Expense $4,635 0.10% $4,635 0.09% $4,635 0.05% $4,635 0.04% $4,635 0.04%

Website Expense $276 0.01% $276 0.01% $276 0.00% $276 0.00% $276 0.00%

Amazon Expense $- 0.00% $ - 0.00% $81,329.88 0.82% $247,529.88 2.09% $252,029.88 2.08%

Licenses $275 0.01% $275 0.01% $275 0.00% $275 0.00% $275 0.00%

Depreciation/Amortization Expense $102,800 2.26% $102,800 1.90% $134,943 1.35% $134,943 1.14% $134,943 1.11%

Transportation Expense $375,342 8.24% $432,379 7.98% $641,517 6.43% $712,494 6.02% $722,640 5.95%

Other $- 0.00% $ - 0.00% $ - 0.00% $ - 0.00% $ - 0.00%

Total Operating Expenses $3,586,447 78.75% $3,792,775 70.03% $4,470,584 44.84% $4,776,069 40.36% $4,860,735 40.04%

Earnings Before Interest and Taxes -$627,939 -13.79% -$96,548 -1.78% $3,041,767 30.51% $4,442,552 37.54% $4,604,507 37.93%

Interest Expense $94,500 2.07% $128,780 2.38% $119,334 1.20% $109,039 0.92% $104,413 0.86%

Earnings Before Taxes -$722,439 -15.86% -$225,328 -4.16% $2,922,433 29.31% $4,333,513 36.62% $4,500,094 37.07%

Income Tax Expense $ - 0.00% $ - 0.00% $752,526 7.55% $1,115,880 9.43% $1,158,774 9.54%

Net Income (Loss) -$722,439 -15.86% -$225,328 -4.16% $2,169,906 21.76% $3,217,633 27.19% $3,341,320 27.52%
 Exhibit #12: OrgoGlove Pro Forma Balance Sheet

Inception % 2023 % 2024 % 2025 % 2026 % 2027 %

ASSETS

Cash and Cash Equivalents $1,114,681 43.71% $269,231 13.29% $9,948 20.57% $966,719 28.25% $1,412,672 36.24% $1,571,767 39.80%

Accounts Receivable $- 43.71% $379,519 18.73% $451,303 20.57% $830,819 24.28% $986,087 25.30% $1,011,750 25.62%

Inventory $- 0.00% $44,826 2.21% $52,297 2.38% $79,690 2.33% $88,987 2.28% $90,316 2.29%

Total Current Assets $1,114,681 43.71% $693,575 34.23% $513,548 23.41% $1,877,228 54.85% $2,487,746 63.82% $2,673,833 67.71%

Machinery and Equipment $1,421,752 55.75% $1,421,752 70.17% $1,872,008 85.34% $1,872,008 54.70% $1,872,008 48.03% $1,872,008 47.40%

Office Equipment and Supplies $12,827 0.50% $12,827 0.63% $12,827 0.58% $12,827 0.37% $12,827 0.33% $12,827 0.32%

Intangible Assets $740 0.03% $740 0.04% $740.00 0.03% $740.00 0.02% $740.00 0.02% $740 0.02%

Total Gross Fixed Assets $1,435,319 56.29% $1,435,319 70.84% $1,885,575 85.96% $1,885,575 55.10% $1,885,575 48.37% $1,885,575 47.75%

Less: Accumulated Depreciation $- 0.00% $102,782 5.07% $205,563 9.37% $340,487 9.95% $475,412 12.20% $610,336 15.46%

Less: Accumulated Amortization $- 0.00% $19 0.00% $37 0.00% $56 0.00% $74 0.00% $93 0.00%

Net Fixed Assets $1,435,319 56.29% $1,332,519 65.77% $1,679,975 76.59% $1,545,032 45.15% $1,410,089 36.18% $1,275,146 32.29%

100.00

Total Assets $2,550,000 100.00% $2,026,094 % $2,193,522 100.00% $3,422,259 100.00% $3,897,834 100.00% $3,948,979 100.00%

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

Accounts Payable $- 0.00% $76,104 3.76% $88,328 4.03% $133,150 3.89% $148,361 3.81% $150,536 3.81%

Accrued Labor Costs $- 0.00% $191,540 9.45% $197,171 8.99% $239,517 7.00% $246,424 6.32% $253,424 6.42%

Current Maturity of LT Debt $69,111 2.71% $75,331 3.72% $111,747 5.09% $121,804 3.56% $132,766 3.41% $144,715 3.66%

Total Current Liabilities $69,111 2.71% $342,975 16.93% $397,246 18.11% $494,471 14.45% $527,552 13.53% $548,675 13.89%

Long-Term Liabilities

LT Debt Less Current Maturities $980,889 38.47% $905,558 44.69% $1,244,067 56.72% $1,122,263 32.79% $989,497 25.39% $844,781 21.39%

Total Liabilities $1,050,000 41.18% $1,248,533 61.62% $1,641,313 74.83% $1,616,734 47.24% $1,517,048 38.92% $1,393,457 35.29%

Common Stock $1,500,000 58.82% $1,500,000 74.03% $1,500,000 68.38% $1,500,000 43.83% $1,500,000 38.48% $1,500,000 37.98%

Retained Earnings $- 0.00% -$722,439 -35.66% -$947,790 -43.21% $305,525 8.93% $880,786 22.60% $1,055,522 26.73%

Total Stockholders' Equity $1,500,000 58.82% $777,561 38.38% $552,210 25.17% $1,805,525 52.76% $2,380,786 61.08% $2,555,522 64.71%

100.00

Total Liabilities and Stockholders' Equity $2,550,000 100.00% $2,026,094 % $2,193,522 100.00% $3,422,259 100.00% $3,897,834 100.00% $3,948,979 100.00%
 Exhibit #13: OrgoGlove Pro Forma Statement of Cash Flows

Inception 2023 2024 2025 2026 2027

Cash Flows From (For) Operations
Net Income $- -$722,439 -$225,351 $2,169,890 $3,217,619 $3,341,304
Depreciation/Amortization $- $102,800 $102,800 $134,943 $134,943 $134,943
Changes in Current Assets
Increase in Accounts Receivable $- $379,519 $71,784 $379,516 $155,268 $25,663
Increase in Inventories $- $44,826 $7,471 $27,393 $9,297 $1,329
Changes in Current Liabilities
Increase in Accounts Payable $- $76,104 $12,224 $44,822 $15,212 $2,174
Increase in Accrued Labor Cost $- $191,540 $5,631 $42,347 $6,907 $7,000
Net Cash Flow From (For) Operating $ - -$776,340 -$183,951 $1,985,093 $3,210,115 $3,458,429
Cash Flow (For) From Investing
Activities
Machinery and Equipment Purchases/Sales -$1,421,752 $ - -$450,000 $ - $- $-
Intangible Asset Purchases/Sales -$740 $ - $- $- $- $-
Office Equipment Purchases/Sales -$12,827 $ - $- $- $- $-
Net Cash Flow (For) From Investing -$1,435,319 $ - -$450,000 $ - $- $-
Cash Flow From (For) Financing
Activities
Issuance of Common Stock $1,500,000 $ - $- $- $- $-
Long Term Debt Borrowings/Repayments $1,050,000 -$69,111 $374,669 -$111,747 -$121,804 -$132,766
Dividends Paid to Stockholders $- $- $- -$916,575 -$2,642,358 -$3,166,567
Net Cash Flows From (For) Financing $2,550,000 -$69,111 $374,669 -$1,028,322 -$2,764,162 -$3,299,333
Net Change in Cash $1,114,681 -$845,451 -$259,282 $956,771 $445,953 $159,095
Beginning Cash Balance $- $1,114,681 $269,231 $9,948 $966,719 $1,412,672
Net Change in Cash $1,114,681 -$845,451 -$259,282 $956,771 $445,953 $159,095
Ending Cash Balance $1,114,681 $269,231 $9,948 $966,719 $1,412,672 $1,571,767
Exhibit #14: OrgoGlove Notes to Financial Statements
Note 1: Assumptions
The following assumptions are made in developing the pro forma statements:
● Depreciation of fixed assets is computed using MACRS, classes 00.11
and 30.1 (Macrs)
● Income tax is assumed to be 21%, 2.5% and 2.25% for federal, state
(NC) and county (Rutherford) respectively for income taxes.
● Accrued labor cost is assumed to be one months’ worth of the total
direct and indirect labor cost.
● Accounts receivable is assumed to be one month's worth of the total
annual revenues.
● Accounts payable are assumed to be one month's worth of the total
annual materials cost plus the total annual transportation cost.
Note 2: Investment capital
Initial startup costs include $925,256 raised from corporate bank loans, $475,000 of
which will be raised upon inception and the remainder being raised in year two. An
additional $1,000,000 will be raised from issuance of common stock upon inception.
Note 3: Capital investment
The money raised from both the bank loan and common stock will be used for 3
glove making machines in years 1 and 2, office equipment, and intangible assets. We will
purchase another glove machine in year 3 where we will take out an additional loan in year
two to fund the new machine.
Note 4: Risks
Orgoglove Inc. assumes various risks in its operation. These risks include:
● Risk related to competition (development of similar products at a cheaper price).
● Risk related to patents (no patents will be secured on our process).
● Risk related to inputs (reliance on suppliers for production of raw materials).
● Risk of available skilled labor (business location has low manual labor supply).
● Risk related to purchasing (all of our equipment will be purchased outright, which
would create a massive financial loss in the event of failure).
● Risk related to debt (large loan amounts creating exceptional risk in the event of
default).
Exhibit #15: OrgoGlove Pro Forma Financial Ratios

Date Date Date Date Date Industry

Ending Ending Ending Ending Ending Average
2023 2024 2025 2026 2027 Ratios
Liquidity Ratios
Current Ratio 2.02 1.29 3.8 4.72 4.87 2.73
Quick Ratio 1.89 1.16 3.64 4.55 4.71 1.81
Operating Cycle 34.01 33.94 33.33 33.16 33.13 37.87
Leverage Ratios
Debt/Equity 1.16 2.25 0.62 0.42 0.33 0.46
Times Interest Earned -6.64 -0.75 25.48 40.74 44.09 11.28
Asset Management Ratios
Inventory Turnover 71.2 35.41 37.24 31 29.85 6.44
Receivables Turnover 12 12 12 12 12 4.79
Fixed Asset Turnover 3.42 3.22 6.45 8.39 9.52 7.04
Profitability Ratios
Gross Profit Margin 64.96% 68.25% 75.35% 77.91% 77.96% 40.02%
Operating Profit Margin -13.79% -1.78% 30.51% 37.54% 37.93% 11.00%
Return on Assets -35.66% -10.27% 63.41% 82.55% 84.61% 10.10%
DuPont Analysis
Net Profit Margin -15.86% -4.16% 21.76% 27.19% 27.52% 8.00%
Total Asset Turnover 2.25 2.47 2.91 3.04 3.07 1.38
Equity Multiplier 2.61 3.97 1.9 1.64 1.55 1.58
Return on Equity -92.91% -40.81% 120.18% 135.15% 130.75% 17.00%
Exhibit #16: OrgoGlove Financial Analysis of Pro Forma Financial Statements

Liquidity
Our company’s liquidity remains below the industry average in years 1 and 2, but
then improves and outperforms the industry average in year 3 onward (save for the
operating cycle, which consistently outperforms the industry average by 3-4 days). The
sudden spike in performance in year 3 is due to our purchasing of a fourth glove-making
machine, thereby increasing our assets by $450,000.
Financial leverage
Our debt to equity ratio is comparable to our industry after year 3 of operation
because we will have taken out 2 loans for our machines by year 2. We are also significantly
better at paying off our long-term debt than other firms in our industry.
Asset management
Our inventory turnover is higher than our industry average because we are selling to
our customers monthly, thereby requiring us to replenish our inventory more often than the
industry average. Our receivables turnover is higher than our industry average because we
collect cash monthly. Our fixed asset turnover is well below the industry average in years 1
and 2, but spikes in year 3 and gradually increases to outperform the industry average by
year 5. Similarly to our liquidity ratios, this is due to our purchasing a fourth glove-making
machine, which increases our fixed assets and also increases the number of units sold,
which also increases revenue.
Profitability
The gross profit margin is higher than our industry average simply due to our having
a higher profit margin (roughly 80% across all 5 years). The gross profit margin increases
over time due to a 10 cent price increase each year. The operating profit margin is below
the industry average in years one and two, but gradually increases and exceeds the industry
average from years three onward. Our return on assets is lower than our industry average
throughout all five years, but approaches the industry average by year five.
DuPont Analysis
The net profit margin is higher than our industry average because we have a very
high profit margin. Our total asset turnover is high due to our continuous turnover in
inventory coupled with our machines producing all of our sales. Our return on equity is
much larger than our industry average because we have very high sales compared to the
amount of equity we have.
Valuation Method
The valuation of OrgoGlove Inc. is based on the method of multiples using the
median earnings multiples of comparable firms, Our firm is valued at $10.33M by year 5.
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Meet the Team - Section 6, Team 3

My name is Victor Hartley. I am from Norfolk, Virginia and I am a marketing

major with a geography minor. Outside of class I am a member of Beta Theta Pi

fraternity, club bass fishing, and club wrestling. In my free time you can usually

find me fishing, at the gym, hiking, or just hanging out with friends.

My name is Savannah Harris. I am from Colonial Heights, Virginia. I am a

business management major with a music industry minor. Outside of school I

work at Chick-fil-a and in my free time I like to read and go to concerts.

My name is Deven Singh. I was born and raised in Gainesville, Virginia. I am

majoring in Computer Information Systems. Outside of class, I enjoy

weightlifting, playing video games, playing golf, and hanging out with friends

and family. I am currently in JMU Fitness Club and also play intramural football.
My name is Yusuf Niamati and I’m from Ashburn, VA. I’m a finance and

economics major who is really passionate about the stock market and investing.

My goal is to try to work on Wall Street, but not lose my soul/morals.

My name is Mackenzie Keeling, and I am from Ashburn, Virginia. I am a

transfer student from Northern Virginia Community College, majoring in

marketing and minoring in music industry. In my free time I enjoy being in

nature, listening to music, and connecting with others.

My name is Sam Clark. I’m from Mt. Jackson, Virginia, and I’m a transfer

student from Lord Fairfax Community College majoring in finance and minoring

in classical studies. I enjoy weightlifting, blacksmithing, shooting, hiking,

reading, and being with family and friends among other things. I currently work

at Randy’s Hardware, a local Do It Best hardware chain with four stores in Mt.

Jackson, Timberville, Bridgewater and Ruckersville. I have worked there for just

over two years, and currently plan to continue working there after college with

the hopes of becoming a divisional or regional manager.