Table of Contents
I. Executive Summary 1
Highlights
Financial Overview
Objectives
Mission Statement
Keys to Success
II. Opportunity 2
Problem and Solution
Target Market
Competition
III. Execution 5
Marketing
Distribution
Operations
IV. Company 5
Ownership/Legal Entity
Location
Management
V. Financial Plan 6
Forecast
Financing
Statements
VI. Appendix 8
Executive Summary
Highlights
Safe kids (Company) is incorporated enterprise which develops hi-tech child monitoring and safety products for children between age 1 to 9. The Company will be providing solutions for parents all over the world concerned with their kids’ safety through our products.
What do we sell?
The Company’s first product is “Safe kids” Smart Bracelet (Product) with features of movement tracking, GPS system and vitals monitoring system.
The Company will target a wide share of market due to a large number of potential customers, as all the parents are worried about their kids’ safety and health, and the lower number of competitors, as our Company’s product is unique.
Financial Overview
The Company prognosis is to reach break-even point and start generating profits by the second year.
Objectives
The Company’s first three years objectives are:
• To demonstrate how “Safe kids” product will benefit new parents;
• To create service-based operation for “Safe kids” products whose primary goal is to exceed the customer expectation;
• To recover start-up cost by 2nd year and generate profits;
• To increase sales by minimum 25 percent every year by superior customer service, advertising and finding new market;
• To develop a sustainable and profitable start-up business.
Mission Statement
The Company’s mission is to be one of the world’s leading producers of high-tech safety and health accessories designed particularly for children.
Keys to Success
The Company’s unique features will be the grounds for the Company’s success:
• Innovative product;
• Excellent service;
• Convenience.
Opportunity
Problem and Solution
Problem worth solving
Children’s safety has always been a concern for parent, and the recent statistics supports this statement as the number of missing kids per year in different countries are extremely high.
Moreover, the market for kids’ safety product is expected to grow from 2016 to 2024 at a CAGR of 12.3% (Beige Market Intelligence) and by the year 2024 is projected to gross up to USD 1.7 billion.
However, the current market players do not satisfy the market’s need as they only provide a very limited variety of products: activity tracking bands, which are not specifically designed for children and have limited functionality features: step counting, calorie burn calculator, and baby monitors.
Our Solution: “Safe kids” Smart Bracelet
“Safe kids” Smart Bracelet is the solution that will satisfy the market need by providing unique features to potential customers:
• Innovative Product – Our technological advances are making “Safe kids” Smart Bracelet stand out from its competitors as it provides various features: movement tracking, vitals measuring (temperature, heart rate, etc.) and GPS tracking system.
• Convenience – “Safe kids” Smart Bracelet allows parents to monitor their kids from anywhere through the mobile/desktop application, notifying them about any irregular activities (e.g. kid being in an unknown or unusual place) or the change in the child’s vitals (e.g. temperature increase).
• Excellent Service – Our Company provides 24-hour technical support to help our customers keep their children safe.
Target Market
The Company will enter and operate Canadian market during its first year, thus, we used the following approach to determine Company’s target market for the first year of operation:
1. Identified the number of potential end user (children age 1 to 9) available to the Canadian market – 3,956,183 persons.
2. Set the threshold for potential buyers – individuals with yearly income of CAD 22,000.00 and over.
3. Identified the yearly median individual income in Canada – CAD 27,000.00
4. Determined the potential market size (parents of kids between 1 to 9) – 3,956,183 persons.
Competition
The Company considers the following market players as main competitors:
• FitBit – activity tracking band manufacturer;
• Garmin – activity tracking band manufacturer;
• Philips – baby monitor manufacturer;
• Motorola – baby monitor manufacturer.
Execution
Marketing
Overview
Our marketing strategy seeks to optimize our advantage of unique technology. We want to understand and satisfy the product, service and needs of parents regarding their children and develop the most creative and innovative products and to provide an excellent service at global level. We want our customers to see us as the world’s leading producers of high-tech safety and health accessories particularly designed for children.
Positioning
We are Safe kids, and we are taking care of what’s important for you.
Promotion
Our marketing programs are online-focused; thus, we can affect our main target market.
Google Ads. Google Ads will be the main online advertising solution that we will use to promote “Safe kids” Smart Bracelet and our online services on Google Search, YouTube and other sites across the web. We will use the following Google Ads engines:
• Search Network campaigns – the ads will show on Google Search results pages when someone searches for a product or service that’s similar to “Safe kids” Smart Bracelet;
• Display Network campaigns – the ads appear on websites or apps that “Safe kids” customers will visit;
• Video campaigns – the ads will show right before or during YouTube content;
• Shopping campaigns;
• Universal App campaigns.
Television.
Company Website.
Distribution
Operations
Company
Ownership/Legal Entity
Safe Kids is a corporation founded and currently owned by Ramon Saha.
Location
The headquarters of the Company are located in Kamloops, British Columbia, Canada.
Management
Ramon Saha – Founder/Owner
Graduate of Thompson Rivers University with a degree in International Business, Ramon will apply his business acumen to leading the Company he is passionate about.
Shantanu Shrivastava – CFO
Graduate of Thompson Rivers University with a degree in Accounting, as well as a CPA designation holder, Shantanu will be responsible for the financials of the Company.
Financial Plan
Forecast
Financing
As of now, the Company spent XXXXXXX on the development of “Safe kids” Smart Bracelet prototype.
This activity was self-funded by the Company’s owner, Ramon Saha.
Statements
Projected Profit and Loss
Appendix