Wallet InnovationsFrom the roll to your pocket

Christian Peters Christian Peters

17 years old, Junior17 years old, Junior

Malden High SchoolMalden High School

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Duct Tape wallets

Ordinary wallets

Wallet Overview

Wallet InnovationsFrom the roll to your pocket

ProblemProblemBasic leather wallets tend to create Basic leather wallets tend to create

moisture inside one’s pockets.moisture inside one’s pockets.

Wallet InnovationsFrom the roll to your pocket

SolutionSolutionOur company eliminates these Our company eliminates these problems along while giving problems along while giving individuals a stylish and unique individuals a stylish and unique look.look.

Wallet InnovationsFrom the roll to your pocket

Here at Wallet Innovations, our primary concern is to satisfy the Here at Wallet Innovations, our primary concern is to satisfy the customer. We provide excellent, efficient, and top-of-the-line duct customer. We provide excellent, efficient, and top-of-the-line duct tape wallets that last significantly longer than ordinary ones.tape wallets that last significantly longer than ordinary ones.

Wallet Innovations will donaWallet Innovations will donate 15% of its revenue to e 15% of its revenue to The Animal Rescue League in Boston, MA. Unlike our The Animal Rescue League in Boston, MA. Unlike our competitors (leather producers) we want to take care of animals.competitors (leather producers) we want to take care of animals.

Mission & Social Impact

Wallet InnovationsFrom the roll to your pocket

Description of Product/Service

• Wallet Innovations creates duct tape wallets Wallet Innovations creates duct tape wallets for people of ages 18 and under in the for people of ages 18 and under in the Malden Malden Area.Area.

• Customers can Customers can call, email, or use PayPalcall, email, or use PayPal to to request our product when encountering our request our product when encountering our advertisements.advertisements.

• Customers can Customers can specify which type of walletspecify which type of wallet they would like to buy out of all of the products they would like to buy out of all of the products displayed on our website at displayed on our website at www.walletinnovations.comwww.walletinnovations.com

• Customers will receive our product Customers will receive our product in 3 - 7 in 3 - 7 business daysbusiness days after ordering. after ordering.

Wallet InnovationsFrom the roll to your pocket

Business Model

Description of Expenses

Variable Material Expenses

Total: $ 3.90

One-half roll of duct tape

$ 2.00

One plastic sheet $ 0.90

One more plastic sheet (for lamination purposes)

$ 1.00

Fixed Expenses Total: $ 185

Insurance (product liability

insurance)

$ 30.00

Advertising $ 100

Utilities $ 55.00

Economics of One Unit

Selling Price $ 15.00 Cost of var. materials exp.

$ 3.90

Cost of labor $ 4.00 for

one half hour

Other variable costs

Total COGS/ COSS $ 7.90

Contribution Margin $ 7.10

Definition of One Unit

One wallet

Monthly Break Even Units

$ 185= 26 ≈ 26 units$ 7.10

Description of Target Consumer

Demographics Geographic

Teenagers and children. Ages 18 and under. Lives with parents.

Malden, MA

Psychographics Buying Patterns

Extra money. Reliant on others. Have free time to shop and purchase.

Make their own purchases. Occasional splurges, since living with parents, don’t need to buy essentials.

Total Population

Target Market Population

60,374

Market Size(based on

survey)

Target Market Size

Market Statistics

Industry Name:

All other Leather Good and Allied Product Mfg Industry

Annual Industry Sales: $ 3,350,000

11, 978

8,385

Wallet InnovationsFrom the roll to your pocket

Marketing and Sales• FlyersFlyers in local hardware stores, in local hardware stores,

grocery stores and playgrounds grocery stores and playgrounds

• AdsAds in local “Malden Observer” in local “Malden Observer” newspapernewspaper

• Ad-podAd-pod Bluetooth advertising on phonesBluetooth advertising on phones

• Social mediaSocial media advertisement advertisement

• ReferralReferral discounts offered discounts offered

Wallet InnovationsFrom the roll to your pocket

CompetitionWallet Innovations

Direct competition:

Flea Markets & Craft Fairs

Indirect competition:

Macy’s, Sears & Nordstrom

Location Home Street festivals, large indoor / outdoor marketplaces. (Hectic environment)

Department Stores

Loyalty Friendly and builds relationships

Friendly but do not build relationships

Unknown Employee

Creativity Creative and custom-made

Creative but Not custom-made

All the same (usually leather)

My Competitive Advantages

1. Product differentiation: We custom make our products.2. Superior customer satisfaction.3. Highly trained and skilled personnel.

Qualifications

• NFTE student for the Entrepreneurship program at MHS.NFTE student for the Entrepreneurship program at MHS.

•Expert in creating duct tape wallets.Expert in creating duct tape wallets.

•Basic knowledge in measurements. Basic knowledge in measurements.

Wallet InnovationsFrom the roll to your pocket

Sales Projections

Total Units360

Gross Revenue$45,000

Net Profit$ 16,235

0

5

10

15

20

25

30

35

Jan Mar May Jul Sept Nov

360

Start-up FundsItem Why Needed Cost

X-Acto Knife To craft my wallets. $ 4.00Core Bamboo Baker’s measuring Board

To measure each and every wallet. $ 50.00

Threshold Avington Desk Hutch—Dark Tobacco

To provide me with a comfortable working space.

$ 60.00

Total Startup Expenditures $ 114.00

Emergency Fund $ 57.00Reserve for Fixed Expenses $ 1,005

Total Startup Investment $ 1,176

ROI: Return on Investment$ 4,488

= 381% ≈ $ 3.81$ 1,176

ROS: Return on Sales$ 4,488

= 9.97% ≈ $ 0.10$ 45,000

Future PlansFuture Plans

•Strive to strengthen the core business by discovering more skillful personnel.

•Expect to reach $1 million by end of 2020, growing at a compounded annual growth

rate of 5% from 2014 to 2020.

Wallet InnovationsFrom the roll to your pocket

Wallet InnovationsFrom the roll to your pocket