THE END

Hey guys,

So everything is now posted for the Final Business Model Package...I hope. SOOOOO GLAD TO BE DONE! Have a great Christmas and good luck on all your exams!

5 Year Plan

I am stuck on how to move forwrd with the 5 year plan...I am gonna email what I have to everyone and maybe one of your guys will have an idea to move it forward?

Thanks!

Lane

5-7 Page Report

I just added customer relations and key activities. I kept my parts short because we are already at 5 pages without Jared's parts.

I can extend mine if need be.

What we need to have done:

Hey boys, as you know we need to have our sections ready for the business model canvas hand in thing. Here is how we've broken it up:

• Key Resources - Jared
• Key Partners - Jared
• Key Activities - Pat
• Value Proposition - Madeline
• Customer Relations - Pat
• Customer Segments - Madeline
• Channels  - Madeline
• Cost - Lane
• Revenue - Lane

Prototype Hand-In

I just added a page called "PROTOTYPE HAND-IN"

Look at it and let me know what you think of the content. The formatting is off because I copied and pasted it from word.

Almost Done!

Last night went quite well. I am proud of His Man Friday, because we started this concept from scratch at the beginning of the semester. It's interesting to compete against ventures that have been in the works for over a year, and it's satisfying to be in the top 3 among those types of ventures.

Now that we are wrapping up, we have to finish our 5-7 page hand-in by the 14th. Also, We have to compile a hand-in with all the relevant numbers about our prototype. Hopefully we can have this done soon as well so that we can get our marks back soon.

Almost done team, lets finish strong!

Congrats to Mido and NYX, both pitches were extremely well done. Peter came right out of the gates with a tug at the heartstrings, then moved to literal examples of customer segments with his use of "Jessica" and her "boyfriend" and their buying patterns. It was well explained, and I think he did an outstanding job getting his concept across to the crowd in 6 minutes. Ian and the NYX team used great visuals and I loved the short video that began the pitch - it really set the stage for the brand's identity. Ian is a great pitcher as well, and followed the video with a well thought through pitch that addressed all the necessary points. This, backed up with Matt's visuals on the slides, really captured the brand.

Great job everyone!

Men's Grooming Lounge

www.groominglounge.com

This place is an extremely similar offering to our. Check it out!

Awesome!!!!

WOW! - This looks fantastic you guys. It's come a long way since the inception and orginal vision. All of you should be very proud of what you have accomplished is such a short period of time. I can't get over how well you all work together and support one another in this great venture. All the best to you when you present your pitch. I was hoping that I might get an invite to see you all in action. Once again . . . job well done.

Cheers,
Monica

Prototype

For Tuesday morning (9AM), when we meet with Evan, are we supposed to have the Sketchup, building costs, and calculations in one hand in? Or is it okay if we reference to the blog for the building costs and calculations? He never specified how he wanted it handed in to him, so I assume its okay if we show him the Sketchup on Jared's computer, then refer to the building costs and calculations on the blog...

What do you think?

Also, is everyone able to come in the morning? I know Madeline and Lane said they could last week in class, but I never heard from Jared - can you make it?????

One Page Investor Summary

His Man Friday Team

Patrick Bruns, Madeline Dowhaniuk, Lane Kinas, Jared Rasmussen

The Problem

Real men need to be pampered. Men are interested in their visual appearance, and society is as well. Making a first impression on an employer, a complete stranger, or the opposite sex, can oftentimes make or break a person. People are quick to judge on appearance, but why even give them a reason in the first place? The key is to look sharp and always put your best face forward. The problem is, men can lack knowledge in how to groom, don’t know enough about products in the market to try them, or are simply overwhelmed with the array of products in an aisle of the local drug store.

The Solution (Value Proposition)

To solve this issue, men need a source to get an education of grooming and hygiene products and how they can utilize them for their benefit. Introduction of the His Man Friday store could be of great assistance to enhance your natural man. This store caters to men who upkeep their appearance, present themselves appropriately, and stay well-groomed. His Man Friday can be the sidekick for everyman to utilize; body, fragrance, skin, hair, and shaving products are all chosen based on personal needs.

Customer

• Men – Primary User and Buyer
• Women – Secondary Buyer

Marketing & Sales Approach

• Social Media:
• Facebook and Twitter accounts – updates, photos, contests
• Website – pages that included: who we are/what we represent, in-store promotions, contact information
• Print Ads – posters with QR codes and magazine ads

Key Resources

• Suppliers – white labeling manufacturer/supplier (key milestone: completion date by July 2012)
• Store Design – unique store to offer specialized products and services 

The Competition

• Men specific brands (i.e. Axe or Dove Men Care) and the retail locations that carry them (i.e. Shoppers, Wal-mart, etc.)

Financial Projections

Total monthly income: $69,000                 Annual income: $828,000

	Products	Services
Avg Price:	$8	$40
Avg Daily Sales in Units:	200	15 – 20
Avg Daily Revenue:	$1600 x 30 = $48,000/month	$700 x 30 = $21,000/month

The Close

We are solving the problem of under-groomed and under-pampered men. With our team and your investment, we can solve this problem in the emerging and growing market. We are looking for $250,000 for initials building renovations/materials, inventory, and first six months rent.

Final Prototype Completed 1/2

Hey everyone! So I have completed the final version of the prototype in Google Sketchup. Here are a selection of screenshots depicting the store layout. Please let me know what you think!

Cheers,

Jared R

Final Prototype Completed 2/2

Here are some more screen shots

Revised Floor Space...Again

Revised from "How to Utilize Floor Space to Gain Maximum Sales" post.

His Man Friday has decided to dedicate floor space to respective offerings based on their projected revenue contributions:

1. Cologne Bar will have 12.5% of the floor space (150sq ft/15ftx10ft space in back left of store)

2. Shave Cave will have 20% of the floor space (240sq ft/20ftx12ft space in back right of store)

3. Product Shelves will have 6% of the floor space (74sq ft/displayed throughout the store)

5. The Lounge (including sofas and TV's, will have 12.5% of the floor space (150sq ft/15ftx10ft space in the center right of the store)

4. The remaining 51% of the floor space (612sq ft) is left for walking space to ensure that our customers don't feel crowded.

I previously forgot to include the amount dedicated to the lounge area, and after revising the shelf space, I had to recrunch the numbers to account for the drastic reduction in sq ft of shelf space.

This looks much better, and we now have 51% of the space open for walking, standing, etc. That seems much more realistic.

Revised Shelf Space

Revised from "Shelf Space Utilization" post

As explained earlier, we have changed our shelf space to be 74sq ft. After trying to place the desired amount of shelving into our prototype, we realized that they will not fit, and we have to drastically reduce the amount.

74sq ft of shelf space will allow us to have:

• 4, 10ft x 1ft 3 sided shelving units (40sq ft). These will rest against the west wall. They will each be 10ft long, 1 ft deep, and 6ft tall (including the lower 3ft tall locked cabinet). 1 ft deep ensures that we don't store an excessive amount of rows of product on our shelves, and since we have the locked storage cabinets below, storing respective products, we won't run out of a product on shelf.
• 2, 3ft x 3ft 4 sided shelves (18sq ft). These will be placed behind the lounge, east of the 3 sided shelving units, where our customers can comfortably access all 4 sides. They will be 3ft wide on all 4 sides, and 6ft tall (including the lower 3ft tall locked cabinet).
• 1, 4ft x 4ft table (16sq ft). This table will be placed in the southeast corner of the store - specifically focussing on product specials and promotional products. It will be just over 3ft tall since the table top will simply be resting on the 3ft tall locked cabinet.

With our average product taking up 9sq inches of space, we can comfortably conclude that we can fit 99 products on our shelves/tables at one time ({12inches/9inches}x74sq ft).

With our average product price of $8, we will be looking at having $792 in product available on our shelves at one time. That's $10.70/sq ft of shelf space. This ratio will be extremely useful when debating more or less shelf space. It will allow us to calculate the cost or benefit, in available product dollars, of adding or removing shelves.

Revised Locked Cabinet Space

Revised from "Locked Cabinet Space" post.

Here are the revised locked cabinet space calculations:

• In the 4, 10ft x 1ft 3 sided shelving units (40sq ft), we will have a 3ft tall locked cabinet underneath that will have a volume of 30 cubic feet available, per shelving unit, for product storage. If we assume the average product is 3"long x 3"tall x 3"wide, we can conclude that each product will take up 27 cubic inches. 27 cubic inches is 0.0156 cubic feet. 30 cubic ft/0.0156 cubic feet = 1923 products that can be stored in the 3 sided shelving unit's locked cabinet. That's a total of 7,692 stored products in the locked cabinets of the 4, 3 sided shelves.
• In the 2, 3ft x 3ft 4 sided shelving units (18sq ft), we will have a 3ft tall locked cabinet underneath that will have a volume of 27 cubic feet available, per shelving unit, for product storage. If we assume the average product is 3"long x 3"tall x 3"wide, we can conclude that each product will take up 27 cubic inches. 27 cubic inches is 0.0156 cubic feet. 27 cubic feet/0.0156 cubic feet = 1730 products that can be stored in the 4 sided shelf's locked cabinet. That's a total of 3,460 stored products in the locked cabinets of the 2, 4 sided shelves.
• In the 1, 4ft x 4ft table (16sq ft), we will have a 3ft tall locked cabinet underneath, that will have a volume of 48 cubic feet. If we assume the average product is 3"long x 3"tall x 3"wide, we can conclude that each product will take up 27 cubic inches. 27 cubic inches is 0.0156 cubic feet. 48 cubic feet/0.0156 cubic feet = a total of 3077 products that can be stored in the table's locked cabinet.

That's a grand total of 14,229 products stored in our 105 cubic feet of locked cabinets.

The Six Minute Pitch

Pitch:

#1 The Intro - Your "Ah ha!" moment

#2 What you do (in a few repeatable sentences):
We created _____ that does ______ which solves _______ for ______.

#3 Problem Solver - What problem are you solving? For who? Are you making lives easier? (if you can make this a human story - do)

#4 Target Customer - who are your customers and how are you going after them? (keep it simple, don't go too deep)

#5 Business Model - who are your customers? how are you going after them? how are you going to get money from them? why are they willing to pay? how can you change their behaviour?

#6 Differentiator - why you'll win over the others. your sustainable, competitive edge. what are you doing different? we do XYZ that our competitors doesn't do - and we have usable products/talent to back it up

#7 Traction/Growth - proof is in the pudding. what growth thus far? projected growth. can you mention potential customers/clients that you've talked to? use logos

#8 Winning Team - why your team is THE team to make this happen. promote yourself and your team - headshots?

#9 The Ask - advice, partnership, money (your skin in the game as well)? what value do your advisors bring and would they give you money? what does that person in front of you have that you need? it is connections or a network? seed funds to accomplish XYZ? distribution companies like ABC?

Know your audience and who is best to pitch to them:

• Stephen Kenny
• Brad Johnz
• Terry Sydorick
• Alice Reimer

Slides:

• Less is more - less words and more images that reinforce what you're talking about (before and after)
• Pie charts, bar graphs - support your pitch
• screen shots and photos of what your building - prototype and products
• Clean images
• Equation for The Ask - this is the money that's in there right now and this is what we want

Appearance:

• Dress for your audience and representing your brand - don't dress in anything makes you uncomfortable in or that would make your audience uncomfortable

Body Language:

• Be open, don't talk with your hands too much, eye contact with audience