Table of Contents
MAJJ is a multi-functional company that caters to market needs. We provide our clients with the most up-to-date styles as well as the outstanding service they deserve (without making them pay an arm and a leg for them). Clients will no longer opt to shop elsewhere for their handbag requirements because of its trend and quality. MAJJ Handbags will provide a well-maintained and strong relationship with our clients since it keeps up with the latest fashion trends.
Demand
Our team devised a clever solution to a common issue based on a student survey: if the females do find a similar bag, it will be much more expensive than MAJJ bags. Many people would at least stop and look at these bags if we sold them (either at faculty or at the mall). They are trendy and inexpensive, so many of these people would purchase them.
Demand Satisfaction
To accommodate consumer demand, we’ve opted to create the items by hand to keep the cost down. Using gently worn long-sleeved t-shirts might also help to reduce the rate. Furthermore, our first priority will be to allow us to market our items during school lunch. Zombies, cats, lions, and dogs will be among our creations.
Model of Organization
Because we are fresh to the business world, MAJJ Handbags will work harder than the competition. Because we don’t know the routes, we’ll be forced to slow down, examine our errors, and correct them, raising the value of our products beyond what they are today.
Profitability
MAJJ Handbags has the potential to be a high-ranking valuable company. Our firm is expected to make at least $500,000 by the end of the year.
After we’ve paid all our bills, we’ll have $300 in our pocket. The majority of this will come from sales at colleges and shopping malls.
profits. If our business takes off and people start buying more of them, we’ll start designing bigger designs, hiring more people (paid labor), and selling them online.
Statement of purpose
We will strive to take in more females between the ages of thirteen and twenty by providing recycled, high-quality, over-the-shoulder luggage at a lower cost than our rivals.
After starting revenue at our school and the Northwest Arkansas mall at the World Trade Expo, we made a $245 greenback profit.
History
The idea for MAJJ handbags began during the World Trade Expo. We were determined to find a solution to reduce the cost after seeing how much of a demand there was for a low-cost, ecologically friendly handbag.
,,, thought that Northwest Arkansas would be a good spot to start selling since our area has hundreds of female students that want a bag for college and other activities.
MAJJ is now accepting orders to generate product samples. We have a method for making the bags, but after looking at the cost of supplies, we’ve individually decided to contribute a certain amount of money up front so that we may continue shopping for the materials we’ll need. The funds will be used to pay the initial costs of materials and other items necessary to prepare for the World Trade Expo in November.
Because we only carry the designs that are now “in” and at a cheap cost, demand for our goods will continue to grow. We’ll stay up to date on new trends and characteristics and adjust our baggage appropriately. Because our luggage has the most fashionable designs, our target market will follow us.
Goals and objectives
Non-Monetary
Only high-end bags are offered.
Showcase our goods to the people that will be interested in it.
As a team, we must do our best and support each other’s efforts.
Participate at the World Trade Expo Monetary Forum if you are chosen.
When the World Trade Expo is over, expect to earn at least $245.
We put $55 of our own cash aside.
After the Expo, keep selling bags to earn $200 in two months.
Describe the product
MAJJ handbags are stylish and fashionable. Small, medium, and big are some of the sizes available. MAJJ handbags are available in a variety of unique designs, including animals and zombies.
Aspects and Advantages
Our handbags are one-of-a-kind in terms of color and fabric kind. Our bags are designed to reflect the most popular fads and trends. MAJJ purses are fashioned from fun, unique materials that “pop.” We never produce two handbags alike, so each one is unique.
Advantage in the market
MAJJ handbags have an edge over the competition since our costs are much lower than those of similar retailers. Our bags will also no longer come apart after a few days. If this is the case, the buyer is entitled to a refund.
An examination of the market and its competitors
MAJJ Handbags caters to females in their twenties and thirties who live in the United States. Clients will be pleasantly pleased to learn that our rivals’ rates are in the twenties. They will tell their friends and family about the product as soon as they have purchased it. Clients would be drawn to our goods because of the vibrant and cutting-edge colors, as well as the unique and fascinating patterns. Animal lovers and fashionistas will both appreciate these bags.
The Target Market’s Characteristics
Trendy and stylish
New fads are something that you should be aware of.
Affordability
Female teenagers
Female teenagers
Despite the fact that we have several rivals, our pricing are unbeatable. The majority of these foes may be found at or around the Northwest Arkansas Mall. Low-quality messenger baggage is also available at Wal-Mart and Target. To save money, a number of purchasers have attempted to make their own bags. Several websites sell bags, however they come at a greater price owing to shipping and handling costs.
Team of Directors
CEO- was born in Harrison, Arkansas, and is now the Chief Executive Officer.
In the year 2008, he relocated to Farmington. She is in the eighth grade and attends Middle School.
I was in seventh grade when this happened. In addition to Builder’s Club and GT, she is concerned about a number of activities at school. She likes to analyze and volunteer in lifestyle ministries. Currently, she is living with.
reaches
, the Chief Marketing Officer, was born in the little town of Ashdown in the state of Arkansas. She is a seventh-grade student at Middle School. is concerned about the
Builders Club, baseball, and figure skating are just some of the activities available. Currently, she is living with.
reaches
Missoula, Montana native, is the Chief Operating Officer. She is a seventh-grader at Middle School. is concerned about the
Band, track, basketball, and GT are just a few of the many activities available. Currently, she lives with.
CFO- (Chief Financial Officer) was born in Fayetteville, Arkansas, and
Her whole life has been spent in that location. She is in the sixth grade at the time of this writing.
and
appreciates solving mathematical puzzles. She is concerned about G.T. and is a member of the Dance Team at school. resides with right now
Structure of the Company
MAJJ purses currently employs four people, all of whom are also Co-Founders. and make all choices together as a group, and value each other’s contributions
viewpoints of others We all work together to manage this company, and we treat each other fairly.
Marketing Strategies (Part VI)
Product
Our product is handbags, which MAJJ handbags provides. Young people and women in their early twenties are our target demographic. They’re constructed from a variety of designs on discarded t-shirts.
Price
We decided that with the one-of-a-kind designs, we would sell our recycled handbags for $7-10 based on our own thoughts and the opinions of our peers. Many of the children and instructors we spoke with said they would purchase them if they were wandering through a mall. Our prices are much lower than those of our competitors. Because we utilize “gently worn” long-sleeve shirts rather than new shirts, this is possible.
Place
Our product will be sold and distributed via four major channels. The internet will be the first place we market them. This, we believe, will aid in the public awareness of our goods. Then, during our lunch break, we’ll start selling it. We hope that by having our peers buy it, we will be able to help spread the message. After that, we’ll promote them in our own churches. If we’re accepted, we’ll use the Northwest Arkansas Mall to market our goods.
Hazards of Importance
Strengths
We can be profitable because MAJJ has power. To our customers, we’re marketing a genuine product. Only a few retailers sell ecologically friendly bags, and even if they do, their prices are too high to compete with ours. Our crew has worked for or volunteered for a variety of companies. We have parents and experts who provide us with guidance and assistance at every turn. Our colleagues also shared their opinions on what they believe might benefit our community.
Weaknesses
We aren’t well-known since MAJJ is just getting started. We will spend money on advertising in order to fulfill this challenge. Posters, brochures, and business cards are among the materials available. Because there are just four of us, we are also at a disadvantage. We’ll strive to be the best we can be. We will compete and produce as much baggage as possible, despite the fact that large corporations have hundreds of people.
Opportunities
The large target market at our campus and at the Northwest Arkansas Mall is one idea that has emerged as evident. Teenagers are prone to purchasing something appealing at a cheap price. Our handbags are stylish and contemporary, and they may flaunt them in front of their friends and family. No one is currently providing luggage to college students during school hours, giving our product a competitive advantage.
Threats
Despite the fact that we have few competitors, anyone could come up with the same idea and sell it in a well-known store. To compete, other stores should lower their style purse expenditures. New fads may come and go faster than we can keep up with them, causing our product to become obsolete.
Needed funds
Each MAJJ member will contribute a small sum of money in order for MAJJ Handbags to begin production. We will present our business mission to viable traders once we are up and running and profitable (parents and grandparents.) To begin the bag-making process, we’ll need a few items, including an old long-sleeve T-shirt (gently used), a sewing machine, unique fabric, and embellishments like buttons, jewels, and zippers. We will also purchase or make desk decorations and promotional flyers. All of these will re-create our stylish and fun logo.
Statement of Income
Income Statement for MAJJ Handbags
Revenues for the fiscal year ended December 21, 2012:
Gross Profits
$300
Cost of Goods Sold is a term used to describe the amount of money spent on
$20
Profitable Revenue
$280
Supplies are a part of the operating costs.
Decorations $25
Flyers $5
$5 per set of business cards
$35 in total operating costs
$245.00 in profit
Each member of our team contributed $13.75 to help pay for materials that will assist us in starting to make our handbags. A total of $55 in loans should be repaid.
Goods and Services Pricing The amount of money we put into the production of our product when it is sold is the amount of money we invest all at once. This includes items like buttons, trim, beads, fabric, and gently used long-sleeved t-shirts, among other things. A further $35 will be spent on decorations and publicity.
Analysis of Break-Even
Expenses/sales MAJJ Handbags Prize = the number of bags required to break even.
To break even, you’ll need 8 MAJJ Handbags at $55 each.
Explanation: The $65 represents the loan we need from JBU Sife, as well as the money we’ll need to repay ourselves and/or the people we borrowed money from. The original amount for our expenses was $55, but the extra $10 was added to account for any unforeseeable fees associated with the $100 loan from JBU. Our $7 animal purses are expected to sell the most, while our $10 zombie handbags are expected to bring in the least money.
