Home Uncategorized Power point notes

Uncategorized

Power point notes

Slides 8,10,14,19,23

Tennessee Strong

Here is where your route begins

01
Introduction
Introduction of TSB
Our Team
Discuss the team’s background
02
About Us
A little background
03
Our Mission
Mission Statement
04

04
Our Values
Company Values
Problem vs. Solution
Why now?
05
Subscription Box Services
Industry Overview
06
SWOT Analysis
Company SWOT Overview
07

08
Marketing Message
What message do we want to send?
Demographics
Who is the ideal client?
09
Basic Plans
Overview of the basic plans
10
Premium Plans
Overview of the premium plans
11

12
Key Sales Activities
How is the client making sales?
Estimated Sales Numbers
Per Year Review
13
Estimated Revenue
Year One Snapshot
14
Initial Product Providers
Which Small Businesses Will We Support?
15

15
Order Fulfillment
How will TSB deliver?
Thank You
Final Words
16

INTRODUCTION
Introduction goes here

For years small businesses have struggled with the impact of online retailers and have never really recovered.
In January 2021, four business professionals partnered together to co-found Tennessee Strong-Box. The company consists of four co-founders, Jonathan Eyerman, Rafael Stewart, Stephanie Gillmer, and Michael Neumiller.
After realizing that they could impact and change small businesses, the four founded the company on blending small business discovery with online subscriptions.
The four selected Tennessee to start. Tennessee is and will always be a great place to put down roots. With a fast-growing economy, a low cost of living, and 260,000 jobs added, it is also a great place to build a business and products.
The company wants to make it possible for everyone to experience the small business touch. Allowing Tennessee Strong-Box the ability to help find new possibilities and feel the contribution to their local communities.
We still proudly make things in Tennessee.

Our Team
Jonathan Eyerman
CEO
Stephanie Gillmer
COO
Michael Nuemiller
CTO
Rafael Stewart
CFO

[Everyone]

About Us
We’re a small business subscription box service company.

OUR MISSION
“Our mission at Tennessee Strong-Box is sharing our love of trying new things and adventure. You have got this one life; live it!”

OUR VALUES
Transparency
Honesty
Integrity
Loyalty
Fairness
Commitment to Clients

Our company’s values statements derive from Genuineness, Quality and Having Fun. These three determine how we interact internally and with our customers. Tennessee Strong Box is built around its four senior executives (CEO, CFO, COO, CTO) who share the same ideas when it comes to decision making. Their main objective is to keep its customers the focal point of all decisions. All major decisions are decided as a team. With the small staff we have the remaining employees take direction from the COO. The COO instills the same values and guidance to the Operations team. She has the autonomy to make decisions that affect the day-to-day operations and staffing of her team.

Overview
Support for Small Business
Investing in Your Community
Enforce Tennessee as a Destination
Help Find New and Exciting Products
Help Consumers Support Small Business
Problem & Solution

$1 Trillion
Subscription Box Services Nationwide

Industry Slide

SWOT ANALYSIS
STRENGTHS
Existing Connections
Experience in Logistics & Fulfillment
WEAKNESSES
Experience In Subscription Box Services
OPPORTUNITIES
Strong Growth In Small Business Market
THREATS
Low Barrier To Entry
Cancellations

Marketing Message
There’s a saying in America: You can’t keep a good man down. The same is true of a state. Tennessee is such a state, making a strong comeback. Home to over 12 great lakes, with 315 species of fish, 300 golf courses, 7,000 acres of public hunting land, and home to the great Smoky Mountains.
The Most Beautiful Place in America.

Demographics
Age: 25-44
Some College, Bachelor’s Degree.
Income level: <$50,000, $50,000-74,999, $100,000 to $124,999. Male Demographics Female Demographics Age: 25-44 Some College, Bachelor’s Degree. Income level: <$50,000, $50,000-74,999, $100,000 to $124,999. Children Demographics Age: 18-44 Male/Female: (45%)/(55%) Has Children Research about the market for Tennessee Strong-Box showed that Americans will spend money on a subscription service. The subscription box market which is a segment of the eCommerce subscription service market and it is rapidly growing and does not seem to be going anywhere anytime soon. This market has a current net worth right now in 2021 of roughly $15 billion with niche products leading the industry accounting for about 20% of the total industry sales. This market sees more than 60% of its subscribers being women. There are more women subscribers which makes them a focused target for businesses more than the male population is. With this being true it is also true that men are seen subscribing to multiple services more often than women so it depends on the products offered whether women or men are the better choice for the targeted consumer. OUR BASIC PLANS $39 MALE Feature 1 Feature 2 Feature 3 $39 CHILD Feature 1 Feature 2 Feature 3 $39 FEMALE Feature 1 Feature 2 Feature 3 OUR PREMIUM PLANS $99 MALE Feature 1 Feature 2 Feature 3 $99 CHILD Feature 1 Feature 2 Feature 3 $99 FEMALE Feature 1 Feature 2 Feature 3 Key Sales Activities SEO/PPC Affiliate Marketing Social Media Email ESTIMATED SALES NUMBERS To modify this graph, click on it, follow the link, change the data and paste the new graph here Conventional Transports Transport App 3,000,000 Something 12,000 Something else 3,000 Something more $5,085,665 ESTIMATED REVENUE BY END OF FIRST YEAR Some Initial Product Providers Karma on Church Peanut Shop in the Arcade Poppy & Monroe Tempered Cafe & Chocolates Eighth and Roast Kore Nashville Music City Tea All American 5.11 Tactical Mountain High Outfitters Friedman’s SuperNatural Hair & Beauty Order Fulfillment Shopify Thank You For Additional Questions www.tenneeseestrongbox.com (615) 253-0600 In closing, thank you

TennesseeStrong-Box

https://jonathaneyerman.wixsite.com/website

Table of Contents

Executive summary

Description of Opportunity 7

Problem and Solution 7

Company Vision Statement 7

Company Mission Statement 7

Ethical Approach Statement 7-8

Values 8

Business Model 8

Industry

Overview 9

Target Market 9

Competitive Advantage 9

Team

Members and Their Company Roles 9-10

Board of Directors 10

Financial Snapshot 10

Conclusion 10

Company overview

Introduction 11

Business Story 11

Company Vision and Mission 12

Company Philosophy 12

Business Structure 12-13

Website 13-14

Nature of the business

Industry 14

Background information

Business objectives

14-15

Team 15-17

Board of Directors 17

Market analysis

Market Type 18

Market size

SWOT analysis

PESTEL analysis

18-19

Competitive analysis

Differentiation

Targeted Market Segments 20

Marketing plan

Marketing Message 20-21

Target Market Demographics 21

Demographics-Men’s Box 21

Demographics-Women’s Box 21

Demographics-Children’s Box 21

Price

Basic Subscription Box 22

Premium Subscription Box 22

Pricing Strategy 22

Competitive Price Analysis 22-23

Product

Value Proposition 24

Basic Box Subscription 25

Premium Box Subscription 25

Product Life Cycle 25

Product Positioning 25-26

Promotion

Advertising Campaign 26-27

Place

Key Sales Activities 27-28

Logistics and operations plan

Suppliers

28-29

Production

Facilities

Equipment

Shipping and fulfilment

Inventory

30-31

Staffing 31-32

Measurements 32

Financial plan

32-33

Sales Forecast 33-34

Expenses 34

Salaries for the Team 34-35

Fixed Costs 35

Variable Costs 35

Projected Profits Year One 35-36

Projected Profits Year Two 36-37

Legal 36-37

Protecting Intellectual Property 37

References

EXECUTIVE SUMMARY

Description of Opportunity

The online subscription box industry is growing and is not expected to slow down anytime soon which Tennessee Strong-Box (TSB) is well aware of. People have a love for surprises and with a steady revenue model TSB and it’s mystery box subscription service will be able to not only find sustainability in the Online subscription box industry but will be able to dominate the market as well.

Problem and Solution

Tennessee Strong-Box aims to help solve problems in the community and for the individual consumer as well. Shopping at a local store means that you are supporting services and products that their owners are passionate about. Additionally, shopping local allows you to make an investment in your neighborhood and community. Locally spent money helps grow other businesses and support the area’s tax base. Continued support of local business owners is helping to shape the Nashville personality and character. Small businesses support the largest segment of employers nationwide and in Tennessee. This quantity means that small businesses employ the largest amount of people. Shopping local not only means supporting local businesses, but it also means supporting your neighbors. Tennessee Strong-Box aims to make and enforce Tennessee’s local communities as a destination.

Tennessee Strong-Box also aims to solve the problems many individual consumers face when it comes to doing their shopping and finding new and exciting products along with helping them find a way to get their replenishable products delivered right to their front door. TSB aims to do this by eliminating the consumers many trips to different stores and giving them the same products and having those products delivered to their front door which takes out the middleman. TSB also aims to do just that in a unique and exciting way allowing consumers a faster and more exciting way to obtain the products they so desire!

Company Vision Statement

“To provide an assortment of genuine products from locally owned businesses. To provide these products to our customers in an exciting innovative way using our mystery box subscriptions to help local small businesses grow and maintain competitiveness in an always evolving business environment.”

Company Mission Statement

“Our mission at Tennessee Strong-Box is sharing our love of trying new things and adventure. You have got this one life; live it!”

Ethical Approach Statement

Tennessee Strong-Box is committed to maintaining the highest standard of ethical conduct in all aspects of business operations. Our adhering to our set of core values allows us to conduct our business while maintaining effective transparency in all areas. We at Tennessee Strong-box are committed to utilizing every method available to us in order to achieve the highest level of transparency in order to support our mission and to achieve our goals.

Values

– Transparency

– Honesty

– Integrity

– Loyalty

– Fairness

– Law-Abiding

– Respect for others

– Commitment to customers

– Accountability

-Trustworthiness

Business Model

Tennessee Strong-Box is an online retail subscription company that follows a subscription box business model. This type of business model is one that has customers who pay a subscription cost which is usually a monthly or quarterly payment made by the customer to the business and in return receives a subscription box on a regular basis. This type of business model is considered to be an eCommerce subscription model. TSB’s customers benefit from this type of business model because they don’t have to scramble around to find a place to shop; TSB benefits from this model because they are able to maintain a steady revenue stream and thus are able to conduct operations more efficiently. (Gregory, 2019).

Industry Overview

The top nine subscription services throughout the United States account for 1 trillion dollars in annual revenue. Some of these subscription services have upwards of 1.5 million subscribers. Subscription services started to see an uptick in revenue starting around the year of 2012 and that does not look like it is going to slow down anytime soon. This industry in 2020 saw that 15% of online shoppers have at least signed up for one subscription box service. (Chipeta, 2020). Not only that but this industry has grown by more than 100 percent within the last five years and is clearly here to stay.

Target Market

Online Consumers are Tennessee Strong-Box’s Target Market. This target market is broken down into segments in which TSB’s targeted customers are men between the ages of 25 and 44 for the men’s subscription box. Women between the ages of 25 and 44 for the women’s subscription box and 18 to 44 for the childrens box.

Competitive Advantage

Tennessee Strong-Box has a few competitive advantages in the market with one of the main ones being its outsourcing to a fulfillment provider, Shopify. By outsourcing to a fulfillment provider TSB is able to overcome many of the supply chain challenges it may have had to face. By outsourcing Tennessee Strong-Box will be more easily able to accommodate the sure to come rapid business growth and focus on its customized service to customers. Not to mention the fact that working with Shopify TSB will be able to minimize its overhead and control company costs. With Shopify being an expert fulfillment provider for subscription services this lightens the load for TSB so that the company has more time to focus on making customers happy as well as ensuring each box they receive is surprisingly delightful. This sets Tennessee Strong-Box apart from the company’s competitors. (Fabregas, 2017).

Other competitive advantages include the competitive pricing strategy used by TSB as well as the company’s unique products and the use of only products offered at small businesses in the state of Tennessee.

Team members and Their Company Roles

Jonathan Eyerman – Chief Executive Officer (CEO)

Stephanie Gillmer – Chief Operations Officer (COO)

Rafael Stewart – Chief Financial Officer (CFO)

Michael Neumiller – Chief

Technology

Officer (CTO) and Marketing Strategist

Board of Directors

Andrew Eyerman – Owner of multiple businesses and has experience in logistics, transportation, finance, budgeting, real estate, engineering and retail sales.

Diane Lockhart – 30 years experience in business planning, finance/budgeting and business strategy. Diane’s areas of expertise include accounting, cash flows. business planning and startup assistance and operations. Other areas of expertise include human resources and overall business operations. Diane also is a consultant and often mentors entrepreneurs and start-up businesses. She is located in Old Hickory, Tennessee and is a member of the Nashville chapter of an organization called Score which offers business owners and entrepreneurs guidance in ensuring their businesses are successful.

Financial Snapshot

Tennessee Strong-Box projects earnings of over $60,000 a month within 3 months of the company’s launch and within two years of operating TSB aims to achieve an annual revenue of $150,000 which is only projected to increase at the five year mark.

Conclusion

Tennessee Strong-Box is an online retail subscription box business that aims to help support small businesses in the Tennessee area, specifically Nashville. Tennessee Strong-Box offers subscription box services to its target market of online consumers with a focus on women between the ages of 25 to 55 who have a college degree level education and no children. This targeted segment also are pet owners and many of them fall into the millennial category which is another segment targeted by TSB. The company plans to be making $60,000 in revenue per month by the end of the third month operating. The company has an advantage over competitors because of its use of a fulfillment provider, Shopify, which eliminates many of the supply chain challenges the company may have encountered. This advantage allows the company to focus more on ensuring customer satisfaction and repeat business. (Fabregas, 2017). With the ever growing popularity of subscription box services Tennessee Strong-Box is going to dominate the market and by the end of two years projects an annual revenue of $150,000 and expansion into two new product categories.

Company Overview

Introduction

Tennessee Strong-Box (TSB) is an online retail subscription box service that utilizes a fulfillment provider to achieve a competitive advantage in the subscription box industry against its competitors. Tennessee Strong-Box is a Limited Liability Company (“LLC”) that sells Tennessee small business items in a mystery box, and all customers need to do is select their preferences. It offers high-end small business items to fill a niche in the market that has put a priority on shopping local.

Tennessee Strong-Box’s ideal customer is men and women who live or have lived in Tennessee, and considers shopping local important. Given the importance people in Tennessee place on their local small businesses, and that Tennessee contains 347,159 small businesses, there’s a market for continued local support.Tennessee Strong-Box will promote its products through a mix of industry trade shows, partnerships with established local small business, and digital advertising. Tennessee Strong-Box is pre-launch currently, and projects earning over $60,000 a month within 3 months of launch. The business is run by Jon Eyerman, Stephanie Gillmer, Rafael Stewart, and Michael Neumiller who not only run the business but are also the founders. The four of them have experience in many different service organizations and are combining those skills to capture a niche in the market: a subscription service that supports small businesses.

Business Story

For years small businesses have struggled with the impact of online retailers and have never really recovered.

In January 2021, four business professionals partnered together to co-found Tennessee Strong-Box. The company consists of four co-founders, Jonathan Eyerman, Rafael Stewart, Stephanie Gillmer, and Michael Neumiller.

After realizing that they could impact and change small businesses, the four founded the company on blending small business discovery with online subscriptions.

The four selected Tennessee to start. Tennessee is and will always be a great place to put down roots. With a fast-growing economy, a low cost of living, and 260,000 jobs added, it is also a great place to build a business and products.

The company wants to make it possible for everyone to experience the small business touch. Allowing Tennessee Strong-Box the ability to help find new possibilities and feel the contribution to their local communities.

We still proudly make things in Tennessee.

Company Vision and Mission

Tennessee Strong-Box’s Vision Statement is, “To provide an assortment of genuine products from locally owned businesses. To provide these products to our customers in an exciting innovative way using our mystery box subscriptions to help local small businesses grow and maintain competitiveness in an always evolving business environment.”

Tennessee Strong-Box’s Mission Statement is, ““Our mission at Tennessee Strong-Box is sharing our love of trying new things and adventure. You have got this one life; live it!”

At Tennessee Strong-Box we are all looking towards the future and making that future brighter for our customers, local businesses and ourselves. We know how important it is for us as human beings to smile and how much it means to us when we are able to be happy and to make someone else happy. We are dedicated to providing unique products to our customers in a delightful way while always using the most creative and innovative methods in achieving our goals. We are constantly evolving and plan to grow and thrive in the industry while striving to maintain relationships with local businesses to ensure they are also able to stay competitive in the market. We aim to be here providing our customers with the best and most unique products at the best price possible and we will be creatively innovative in the customization of our subscription boxes to ensure happiness.

Company Philosophy

Business Structure

Tennessee Strong-Box will operate as a Limited Liability Company (LLC) run by Jon Eyerman, Stephanie Gillmer, Rafael Stewart, and Mchael Neumiller.

In the state of Tennessee where the TSB company is located, there are state specific rules and taxes. The Franchise tax is 0.25% of the greater of net worth or real and tangible property in Tennessee (minimum $100) and the Excise tax is 6.5% of Tennessee taxable income (Tennessee, n.d.). State taxes for the company are due the 15th day of the 4th month following the close of our books and records.

All necessary information for the business license is on Tennessee Department of Revenue site. Documents can be filed with hard copies or done on the registration site located at

https://tnbear.tn.gov/Ecommerce/RegistrationInstr.aspx

. If we have additional questions we can attend the Small Business Orientation on Thursdays hosted by the TN Small Business Development Center with help from the IRS.

In order to file in Tennessee we need file: Application for Name Reservation (SS-9425) $20 fee, Application for Reservation of Name (SS-4228), Articles of Organization (SS-4270) (This is the form which forms a domestic Limited Liability Company (LLC), Certificate of Formation (SS-4232). When registering a new LLC, the fee is $50 per member in existence on the date of the filing, with a minimum fee of $300 and a maximum fee of $3,000. The Certificate of Formation and Application for Name Reservation are both $20. All associated fees are located at

https://sos.tn.gov/products/business-services/limited-liability-company-fee-schedule

. We need to apply for an Employer Identification Number through the IRS, which is free.

Website

TSB’s company website is simple and straightforward because the whole point is to offer customers convenience, and to keep the focus on the product categories offered in the company’s monthly subscription boxes. Once a person signs up for a monthly subscription at TSB, there are preferences quizzes that will be made available in order for TSB to collect data on what its customers are most interested in.

The simplicity offered on the website makes it easy for the customer to navigate their way around. The website offers people some background on the company along with the company’s vision and mission to let customers know what TSB is all about. The different types of subscriptions are offered and the prices for each subscription are included as well.

There is a drop down menu under a section marked more that offers customers the option to obtain contact information, instructions on how everything works and a faq’s section for any frequently asked questions. Tennessee Strong-Box also has an online chat option available in case any of its customers or potential customers have any questions to ask. The website also has a login push button for members to login to their accounts and manage their personal information and their subscriptions. This section also gives potential customers the opportunity to set up an account. The company’s website provides customers with convenience and easy access and also provides them with the information on the products offered and the way TSB’s subscription service works.

Nature of the Business

Tennessee Strong-Box sells unique, one-of-a-kind subscription boxes filled with products from local small businesses and is an online retail subscription company that follows a subscription box business model. This type of business model is one that has customers who pay a subscription cost which is usually a monthly or quarterly payment made by the customer to the business and in return receives a subscription box on a regular basis. This type of business model is considered to be an eCommerce subscription model. TSB’s customers benefit from this type of business model because they don’t have to scramble around to find a place to shop; TSB benefits from this model because they are able to maintain a steady revenue stream and thus are able to conduct operations more efficiently.

Industry

Tennessee Strong-Box is in the Online Subscription Box Industry which is a category of the even bigger eCommerce Industry. The Online Subscription Box Industry is responsible for a huge amount of the Subscription eCommerce Industry’s well over 10 billion dollar net worth. (Chipeta, 2020). The Subscription Box Industry is a very competitive industry that is very popular amongst millennials due to that segment of the market’s use of technology.

The popularity of the convenience of being able to order online with just the push of a button, like what is usually found in online ordering is also just as popular with the subscription box industry. (Chipeta, 2020). The subscription industry has blown up and will continue to grow for many years to come, along with this growth is going to be a highly competitive industry.

Background Information

The founders of the company, Jonathan, Stephanie, Rafael and Michael all have experience working in many different service organizations and the environments those organizations exist in. They are combining those skills to capture a niche in the market: a subscription service that supports small businesses. The founders have experienced many different things in their lives and feel that it is important that people stay connected which includes ensuring that local businesses do not disappear just because of the ever evolving online market.

Business Objectives

Tennessee Strong-Box will be ready to launch online within the next eight weeks and aims to launch its virtual business at that time. After two years in business, the company aims to drive $300,000 in annual revenue from the sale of Tennessee Strong-Box’s signature small business box service, and have expanded into two new product categories.

By the end of the first year Tennessee Strong-Box wants to have a frequent buyer loyalty program implemented in the hopes that it will help maintain loyalty among subscribers.

To ensure customer loyalty and retention, TSB aims to establish a mailing list within the first six months and will add new repeat customers to that list. Handwritten thank you letters will be sent to loyal customers on the mailing list to add a personal touch that is oftentimes overlooked in other businesses.

At the 2 year mark Tennessee Strong-Box wants to implement a referral program that offers rewards to customers for referring family and friends to our services. Understanding that it is only beneficial to use a rewards program like this when there is a profit margin that allows it will be important for TSB to establish loyal long term customers and to remain competitive in the market to achieve a profit margin to meet this goal.

To keep customers the focal point and to ensure the customer is satisfied with our products.

Team

Tennessee Strong-Box consists of four team members, Jonathan Eyerman, Rafael Stewart, Stephanie Gillmer and Michael Neumiller. These four members are also the co-founders and co-owners of the Tennessee Strong-Box company and together share the company’s vision and are dedicated to seeing the company succeed.

Jonathan:

Jonathan Eyerman is the Chief Executive Officer (CEO) of the Tennessee Strong-Box (TSB) company. As CEO Jonathan has the delegation of full authority to determine, implement and execute decisions for TSB. His other responsibilities include talking to shareholders and government entities and overlooking human relations and sales departments.

Jonathan is an entrepreneur & businessman who works with technology companies to rethink how they access data. Jonathan believes that data connectivity should be accessible by everyone. Jonathan has supported the Detroit Internet Exchange and landed large contracts with some of the world’s largest organizations. As a Network Professional, Jonathan is a certified in Cisco, has been awarded an inspiring excellence award, and is professionally trained in sales. He also has been nominated to Crain’s 40 under 40. Jonathan is about to complete a Bachelor’s of Science in Business Administration from Purdue University Global.

Jonathan is driven by making wise ethical decisions, which require a well-rounded understanding and empathy for others. Having loose ground rules for making an ethical decision is essential. He roughly follows a mixed framework for consequentialism and non-consequentialism. Jonathan’s strengths include being able to maintain a sense of calm during a crisis or emergency situation. He is energetic and spontaneous as well as being very rational and able to stay on task in any given situation.

Rafael:

Rafael Stewart is the Chief Financial Officer (CFO) of the Tennessee Strong-Box (TSB) company and in his position is in charge of budgeting, business planning and projects and corporate filings. Other responsibilities include the management of accounts payable and receivable as well as taxes and everything related to those areas of the business. As CFO Rafael is responsible for reporting to the board of directors on all of the company’s financial and accounting matters.

Rafael has 19 years of military service and works in the training department for the Recruiting Command. His team is responsible for the training of recruiters in six different states. For three years, he managed a successful recruiting center covering nearly 600 square miles. Previous experience includes ten years of cabling and fiber installation in the United States and overseas. Rafael is scheduled to complete his Bachelor of Science in Business Administration in March 2021.

Rafael believes in doing the right thing and treating everyone with respect. This includes making the decisions as if circumstances were reversed, and I’m the person affected by the decision. When available, he takes time to make decisions and avoids impulsive decisions. His strengths include being outgoing and energetic while maintaining a value of integrity in all of his actions. Rafael is assertive and is quick to the punch when necessary but also slow and steady if the situation involves more thought and finesse.

Stephanie:

Stephanie Gillmer is the Chief Operating Officer (COO) at Tennessee Strong-Box (TSB) and oversees all areas of the company’s operations. As Chief Operating Officer, Stephanie is second in command of the company reporting only to the CEO. She is tasked with implementing the daily operations and to make sure that those operations align with the long term goals of the company and the company’s strategies. Other responsibilities include ensuring that team members thrive and work well in collaboration with each other to meet shared company goals. Stephanie is responsible for taking Tennessee Strong-Box’s strategies and breaking them down into actionable goals for performance.

Works for BNSF Railway as an Intermodal Equipment Operator. This requires driving and operating of heavy equipment such as hostler trucks, side loaders and overhead cranes. Prior to her current job at BNSF Railway Stephanie had worked in retail positions and thus has retail experience. She also served in the Army National Guard as a truck driver accomplishing one tour in Iraq with her time served in the military being 4 years from 2007-2011. Stephanie is currently working towards a Bachelor’s of Science in Business Administration with a focus in Human Resources degree from Purdue University Global.

Stephanie’s strengths include assertiveness, high energy, being outgoing, having high standards for self and others, good at separating facts from emotions, and effective at applying tried and tested methods. Stephanie is empathetic and strives to look at situations from the viewpoints of all involved prior to making any sort of decision. It is her ability to empathize and work with others that makes her a good fit for the position of COO at Tennessee Strong-Box.

Michael

Michael Neumiller is the Chief Technical Officer (CTO) at the Tennessee Strong-Box (TSB) company and oversees the technological needs of the company and of its employees. These technological needs include things like the company website, software needed for team members and employees to communicate effectively and the technology needed to market the company’s brand and it’s products. Michael also oversees the marketing aspects of Tennessee Strong-Box and is responsible for ensuring that the company’s products and it’s Brand is marketed effectively and efficiently.

Michael has experience in many different areas though one of his strong suits is marketing and networking. He has retail and website development experience and has built a network of contacts around the country in the work he does assisting military veterans and their families. Michael served in the Army for four years with one 23 month tour in Iraq. After his time overseas and the experiences of combat, Michael decided to devote his time to helping other veterans and their families navigate the department of veteran affairs and the different programs within and outside of the VA that they may have access to. He works well with his hands, is a quick learner full of ambition and is very devoted to anything he is involved in.

Michael is a very ethical person and views everything and everyone as equal until he is given a reason not to. He is a firm believer in loyalty, respect, and honesty. Michael is a decisive person and is able to think quickly in most every situation. Whether it be at war or in the home. His strengths include the ability to mentor others and his planning and organizational skills which are critical in his position at TSB as Chief Technology Officer and person in charge of marketing.

Board of Directors

Tennessee Strong-Box’s board of directors is made up of five business professionals which includes three professionals affiliated with the Angel Investors and then two others handpicked by the TSB team. The two professionals that were handpicked are:

Andrew Eyerman – Owner of multiple businesses and has experience in logistics, transportation, finance, budgeting, real estate, engineering and retail sales.

Market Analysis

Market Type

The type of market that Tennessee Strong-Box will operate in is the subscription box market segment of the ecommerce subscription market.

Market Size

Research about the market for Tennessee Strong-Box showed that Americans will spend money on a subscription service. The subscription box market which is a segment of the eCommerce subscription service market and it is rapidly growing and does not seem to be going anywhere anytime soon. This market has a current net worth right now in 2021 of roughly $15 billion with niche products leading the industry accounting for about 20% of the total industry sales. This market sees more than 60% of its subscribers being women. There are more women subscribers which makes them a focused target for businesses more than the male population is. With this being true it is also true that men are seen subscribing to multiple services more often than women so it depends on the products offered whether women or men are the better choice for the targeted consumer. (Chipeta, 2020).

Swot Analysis

Positive

Negative

Internal

Strengths

· Formal graphic design training

· Existing connections in the industry for potential partnerships

· Experience in logistics and fulfillment

Weaknesses

· Little experience with the subscription service industry and understanding of customer profile

External

Opportunities

· Strong growth in small business market

· Millennials are investing more in subscription service

Threats

· Highly competitive market

· Low barriers to entry

· Cancelled Subscriptions

PESTLE ANALYSIS

Political Factors

· Legal frameworks

· Intellectual property protection

· Antri-trust laws related to goods and services

· Taxation – Tax rates and incentives

· Wage legislation – Minimum wage and overtime

Economic Factors

· Government intervention

· Infrastructure quality

· Skill level of the workforce

· Labor costs

· Economic growth rate

· Discretionary income impacts

Social Factors

· Demographics and skill level of the Nashville area population

· Education level

· Culture

· Attitudes

· Leisurely interests

Technological factors

· Recent technological developments (specific to any competitors)

· Rate of technological diffusion

Legal factors

· Discrimination law

· Patents, Intellectual property

· Copyrights

· E-commerce

· Employment law

· Data protection

· Safety laws

Environmental factors

· Weather

· Climate change

· Laws regulating pollution

· Recycling

· Waste management

· Attitudes towards green products or renewable energy

Competitive Market Analysis

Tennessee Strong-Box has competitors in each of the two markets it intersects. Most of the market subscription services use the following platforms for e-commerce. Those subscription services include CrateJoy, Shopify, and Subbly. Tennessee businesses employ 1.1 million people (almost 50% of private workforce) Additionally, the retail trade in Tennessee accounts for 33% of the small business employment share. The top nine subscription services throughout the United States account for 1 trillion dollars in annual revenue. Some of these subscription services have upwards of 1.5 million subscribers.

Differentiation

Tennessee Strong-Box will primarily rely on differentiation to stand out in the market, with segmentation as a secondary strategy. While there are multiple categories of competitors and substitutes for their product, Tennessee Strong-Box has a much more convenient and unique offer for small business support. Tennessee Strong-Box will not compete on price, and will focus on owning its initial product category before expanding. (Luenendonk, 2020).

Targeted Market Segments (Luenendonk, 2020).

Marketing plan

Tennessee Strong-Box’s flagship product is a line of subscription boxes that are customized based upon user selected preferences. Based on Tennessee Strong-Box’s ideal customer, here’s an overview of the marketing plan.

Brand Standards

Primary Typeface: Gotham

Primary Palette:

· Orange (FF8200)

· Rajah (FFB05C)

· White (255, 255, 255)

· Smokey: (88, 89, 91)

Marketing Message

There’s a saying in America: You can’t keep a good man down. The same is true of a state. Tennessee is such a state, making a strong comeback. Home to over 12 great lakes, with 315 species of fish, 300 golf courses, 7,000 acres of public hunting land, and home to the great Smoky Mountains. The Most Beautiful Place in America.

TSB is a local and trusting company, dedicated to putting a smile on the faces of Nashvillians. We do this by supporting local businesses and providing you with a great product. We help you, help others. Tennessee is and will always be a great place to put down roots. With a fast growing economy, a low cost of living, and 260,000 jobs added, it’s also a great place to build a business, and products.

We still proudly make things in Tennessee.

Target Market Demographics

Demographics – Male’s Box

Age: 25-34, 35-44

Location: Tennessee.

Gender: Male.

Education Level: Some College, Bachelor’s Degree.

Marital or family status: Married or Information Not Available.

Income level: <$50,000, $50,000-74,999, $100,000 to $124,999.

Demographics – Female’s Box

Age: 25-34, 35-44.

Location: Tennessee.

Gender: Female.

Education Level: Some College, Bachelor’s Degree.
Marital or family status: Married or Information Not Available.
Income level: <$50,000, $50,000-74,999, $100,000 to $124,999.

Demographics – Children’s Box

Age: 18-34, 35-44.

Location: Tennessee

Gender: Male (45%) / Female (55%) with children.

Education Level: High School and/or Some College possibly an Associate’s or Bachelor’s Degree.

Marital or family status: Married or Information Not Available and has children.

Income level: <$50,000, $50,000-74,999, $100,000 to $124,999.

Price

Given that the subscription boxes from Tennessee Strong-Box are customized, and that they save the consumer significant time and effort by cutting out the time needed to do their shopping at multiple small businesses, they’re priced at the higher end of the market. Tennessee Strong-Box has three different subscription box options for consumers to choose from, men’s box, women’s box and children’s box. The different options include two different types of boxes: a basic subscription box and a premium subscription box. (Luenendonk, 2020).

Basic Box Subscription

The Basic subscription box is perfect for those who are new to the subscription box world and are looking to test the waters without spending too much money. The price on the Starter package is $39 and is the same price whether the consumer orders the men’s, women’s or childrens box.

Premium Box Subscription

The Premium subscription box includes higher end products from local Tennessee small businesses and is priced at $99. The $99 price tag is the same regardless of the subscription box category chosen by the consumer. There are the same three categories of boxes offered as premium package subscriptions and those categories are the men’s box, women’s box and the children’s box.

Pricing Strategy

TSB aims to use a competitive pricing strategy known as competitor-based pricing. This strategy means that TSB will price its products in the same ballpark as its competitors in the market and also by having products that are priced above its competitors. So Tennessee Strong-box is using competitor-based pricing both to price products in the same vicinity as competitors and higher than competitors.

Pricing products close to the same price as competitors shows consumers that TSB’s products are at least as good as or very close to as good as that of the competition. This allows the online shoppers who can easily compare the prices of many different products from many different companies to see TSB right there alongside the competition with products close to the same price.

Just as offering products at a similar price allows TSB to be competitively priced against competitors, offering higher end products like those in the premium packages offered at TSB does the same thing. This is so because TSB has unique and more expensive products offered at a higher price than competitors but at a lower price than consumers would pay in the store which still provides TSB with a competitiveness needed to maintain stability in the market once penetrating the market and maintaining stability is gained.

Competitive Price Analysis

A competitive price analysis is how Tennessee Strong-Box is able to study its closest competitor’s prices on the same or similar products that are available to consumers in the same market. After reviewing similar products on the market TSB chose to either match its competitors prices or have slightly higher prices depending on which of the three products offered by the company. Using prices that match those of competitors gives TSB a competitive advantage in the market. It does this because the products in a TSB box are similar, so are the categories of products offered inside the box but the uniqueness of TSB’s products coming only from small Tennessee businesses and the higher quality of those products make TSB products more appealing to customers.

The premium packages offered at TSB may have slightly higher prices when compared to similar products however the price is not much higher and the same applies as described above. Tennessee Strong-Box products are unique because each box contains products from local businesses and many of those products can’t be found anywhere besides the store supplying TSB.

Tennessee Strong-Box’s biggest competitor for their subscription box products are

Battlbox

Bombay & Cedar

and

Luxor Box

which prices their products as follows:

Battlbox

· $59.99 per month for the Advanced box

· $109.99 per month for the Pro box

· $159.99 for the Pro Plus box (Sendor, 2021).

Bombay & Cedar

· $31.95 to $44.95 a month. (Pullman, 2021).

Luxor Box

· $50 – $139 every other month.

The main competitors of TSB are going to be beauty product subscription boxes and the outdoor/grooming boxes offered by the competitors above. The way that TSB will be able to get away with and be successful in having matching or higher priced products is always going to be by using its uniqueness and its higher quality and localized products. Mainstream products can be found at any store whether online or brick and mortar. TSB may have some mainstream products included in its boxes however all products come from local small Tennessee businesses and include products that only those stores sell and they can not be found on Amazon or at Walmart which gives TSB the edge it needs to be competitive in the market.

Product

Tennessee Strong-Box’s subscription boxes are solving a specific problem—people want to support local small businesses, but they may not know of some of these businesses. The products that fill TSB boxes come from over 30 different small businesses in the Tennessee area, predominantly Nashville small businesses. The products include jewellery and sporting goods, fashion and clothing/accessories, specialty and novelty items and many different replenishables. Replenishable products include everything from makeup/beauty/grooming supplies to food/candy/beverage/tea/coffee products. (Luenendonk, 2020).

Value Proposition

Like any other business, Tennessee Strong-Box (TSB) will continue focusing on its digital capabilities to scale back its physical presence in the business realm. To communicate its value effectively and generate revenues, it must present a value proposition to its potential customers. This means that it should first understand the diverse kinds of value propositions, particularly product value propositions. One of the virtual business products that TSB will engage in is establishing a mailing list. Such a business will typically add new repeat clients to the existing list. The mailing list is the best means of communication between clients and companies. All customers must participate in TSB for such predominant products that are cost-effective (Osterwalder et al., 2014). This is because there is considerable production overhead with fliers, traditional mails, and brochures. All potential customers will educate clients on business operations. Emails display one’s field-particular expertise a business has acquired. This will increase customer loyalty. Through this product, customers will enjoy the credibility of the company.

The other virtual business product is a referral program. Such a program will offer rewards to potential customers for referring friends to its services. This is a useful program since it will keep customers the focal point and ensure they are delighted with its products. Again, these programs are cost-effective for they boost customers’ acquisition efforts. The agenda will further connect you to a new system of potential leads with minimal effort. Simultaneously, the referral program encourages your loyalty and lifetime value through your existing network’s engagement persistently. This is another virtual business product for all customers.

Consequently, increasing revenues, improving client participation, and assisting clients in realizing their objectives is an email marketer’s dominant goal. As a result, we will require a clean mailing list and ideal email deliverability. Having a clean and precise mailing list will help keep email marketers on track, diminishing blockers, and avoiding hiccups to efficient campaigns. There is a need to have a shorter verified list, which is more valuable than having a more extensive unverified list. We will build our list since bought lists have many problems and have numerous expired email addresses (Christopher, 2016). We will further maintain a steady email cadence. This entails upholding a specific frequency, which is sensible for our business. Like referral programs, sending emails regularly is essential since our brand will remain top of mind for the customers. This further leads to enhanced engagement. Since we have different clients’ categories, we will send out a small survey form and segment our recipients founded on their responses. This will aid in meeting their desires according. Again, segmentation is the basis for scaling personalization. This further enables us to penetrate the target market for our products.

To have a working referral program, we will provide exceptional services to our customers. We will also ensure that what we provide stands out and makes an impact on the people. Therefore, we will be passionate about delivering exceptional services to our clients. Again, we will put our customers first when offering our services. A successful referral program has a sturdy customer relationship, including good communication. As a result, we will have adequate time to have profitable conversations with our potential customers. This entails listening to them and responding accordingly and sincerely. This will vastly promote our brand and enhance customers’ loyalty.

Basic Box Subscription
The Basic subscription box is perfect for those who are new to the subscription box world and are looking to test the waters without spending too much money. The price on the Starter package is $39 and is the same price whether the consumer orders the men’s, women’s or childrens box.

Premium Box Subscription
The Premium subscription box includes higher end products from local Tennessee small businesses and is priced at $99. The $99 price tag is the same regardless of the subscription box category chosen by the consumer. There are the same three categories of boxes offered as premium package subscriptions and those categories are the men’s box, women’s box and the children’s box.

Product Life Cycle

A product’s life cycle is broken down into four different phases: Introduction, Growth, Mature and Decline. TSB is at the brink of the Introduction phase as it hits the market soon. One advantage that TSB has is that their products are never the same. TSB has a few advantages in regards to the life cycle, three different boxes (men, women, children), and the contents are never the same. Overall, subscription boxes are in the Growth phase. They were introduced over ten years ago, and are still gaining popularity.

A recent Forbes article (Petro, 2019) mentions facts and surveys of where the subscription boxes stand. The article mentions that 25% of respondents (both men and women combined) were currently receiving a subscription box, and another 32% of respondents planned to subscribe in the next six months. This shows the growth of the product and with the uptick of local business support, TSB has a good cycle in the future. There are many businesses to collaborate with throughout Tennessee, resulting in exciting boxes on every release.

The mature stage is when the market becomes saturated and that will not happen any time soon. If there was a decline in local sales, TSB will be able to venture outside the state. Having a virtual business provides the opportunity to venture out and identify new target markets.

Because of TSB’s unique product offerings, and the individual consumers account preferences, customers can receive replenishable products that they use on a daily basis and also receive new and unique products offered by their favorite local stores. These two unique characteristics of TSB’s products show that they are never going to be removed from the shelves because the contents are ever changing in each subscription box.

Product Positioning

When it comes to positioning products in the market TSB will position its products the way the company wants consumers to see the products. With the unique subscription box products offered at Tennessee Strong-Box the company wants its customers to see the products as unique, something different and somewhat of a pleasant surprise. TSB also wants customers to see products that allow them to shop locally without having to leave the comfort of their own home.

TSB wants consumers to view the company’s products as unique, as one of a kind. The reason for the mystery products included in subscription boxes is to give consumers that aha type of surprise that makes TSB’s products exciting and gives the products that unique feel that is actually really important when in the subscription business.

Promotion

Tennessee Strong-Box will rely on three main promotional strategies. We have identified multiple leading trade shows that would be worth the investment to get the word out about the business. Additionally, existing relationships give several opportunities to pursue partner promotions with established products. TSB will also use digital ads on both Facebook and Instagram to help reach Tennessee Strong-Box’s ideal customers. Search Engine Optimization (Luenendonk, 2020).

The existing relationship between TSB and its many different suppliers allow promotion and advertising for TSB and its products because all of those businesses promote TSB both in their brick and mortar stores as well as on their websites and their own advertisements. This type of promotion allows Tennessee Strong-Box free advertising as well as free product promotion without TSB having to do anything other than maintain those relationships.

Advertising Campaign

TSB aims to use referral programs to promote the company and the products it has to offer. This type of program is designed to offer rewards to its potential customers in exchange for their referring friends and family members to TSB services. This is a useful program since it will keep customers the focal point and ensure they are delighted with its products. Having a referral program will help TSB encourage customer loyalty.

Building a social media presence and engaging in social media will allow TSB to connect on a more personal level with potential customers. Other companies within the same industry as TSB like Battlebox and Birchbox use social media and have been very successful in doing so. Using social media is also cost effective in that it does not cost much if anything at all other than the time taken to engage in content. This is a very cost effective way to drive sales and promote TSB and its products.

Affiliate channels are also a very big factor when it comes to advertising and promoting TSB products/Services. Using Shareasale as an affiliate partner is a wise move for the company and is also an affiliate used by many other companies to do exactly the same thing, build a customer base and increase sales.

Using social media influencers as a way to advertise and get TSB’s name out to the homes and phones of so many more people than possible with just email is also a critical factor in ensuring that the company is successful. With the way the world is nowadays social media is the best way to reach people because just about everyone has a social media account somewhere. Using influencers can help TSB reach millions of people and can do it in a much shorter time period than if TSB was doing it by itself.

Place

Tennessee Strong-Box will be run as an online store, given the nature of the subscription service. Customers can place their orders at www.Tennesseestrongbox.com, and will receive their orders at their home after the relevant shipping windows. This section of the four P’s of marketing stands for the place or places that the products will be marketed. TSB will market it’s products on its website as well as in its suppliers storefronts and on their websites and advertisements as well. There is no cost to Tennessee Strong-Box in doing this because of the partnership and the reach TSB helps those local small businesses achieve.

Key Sales Activities

This section will be used to describe key sales activities that will be used to build and maintain the sales pipeline for Tennessee Strong-Box.

The past years have shown an explosive growth in subscription boxes in the United States. Online subscription providers have grown and risen substantially. It is important to note that the year-over-year growth is reaching a maturity level, but still growing.

100% of the sales for Tennessee Strong-Box will come from online subscriptions.

In order for the company to be successful, the company will need to line up their affiliate channels. Additionally, the company will need to rely on social media.

Affiliate marketing is a fast growing industry segment in which the company can source traffic for subscriptions, and could lead to the key to customer acquisition. Some examples of affiliate use could include pinchme.com and mysubscriptionaddiction.com. Another common local usage would be that of Groupon.

The company will need to rely on social media outlets more than the traditional methods, but it is important to note that there has been a decline in this model over the past couple of years.

Email is a key source of engagement for Tennessee Strong-Box and will continue to be an important source of engagement for the subscriber base. The company will have a strong reliance on email as a source of growth.

Organic Search Engine Optimization and Paid Advertising through Search are going to be the top traffic generating sources for Tennessee Strong-Box. It is important to note that there are keywords that are important to the consumer industry. In a Pay-Per-Click (PPC) model, it is important to include items such as “best” or “review”. An example of this would be “best subscription box” or “tennessee strong-box review”. Knowing the search engine values will help optimize the bidding and content strategy.

Another key sales activity to consider is the implementation of a time-of-year or seasonality boost. The needs of consumers will change throughout the year and since Tennessee Strong-Box is offering a generality box for small businesses, it can change the trends of the box subscription based on seasonality.

As an example, the company can target Winter Holidays, Back To School, or even the Fourth of July. These seasonal holidays would be implemented with the Organic and PPC models, and the search terms would include things like “best holiday subscription service” or “best beauty box”.

The final sales key is to make sure there is continued improvement on deployment for mobile and tablet usage. Smartphones are the considerable share of usage of the internet searches for consumer B2C. Therefore, it’s important to know that the company should ensure all of it’s digital channels are optimized for a mobile experience.

Logistics and operations plan

The logistics of creating and shipping Tennessee Strong-Box’s products are a crucial differentiator for the business.

Procurement Process

1. Identify goods as selected by subscription box type

2. Explore and select small business vendors local to Tennessee

3. Submit purchase requisition to finance

4. Create purchase order

5. Receive order

6. Pay for goods

7. Record for auditing purposes

Suppliers

Box and other packaging materials

The owners have connected with several local businesses to gather prices for boxes, and given that each item needs to be made to order, sourcing cheaper options offshore in bulk is not an option for Tennessee Strong-Box. TSB’s support of small local business vision helped them in picking a supplier for the packaging materials that will be used. The company that will supply all packaging materials is a place called Nashville Wraps. Nashville Wraps provides a wide variety of boxes and other packaging materials that can all be customized to meet any order which is exactly what Tennessee Strong-Box was looking for. (Nashville Wraps, 2021).

Suppliers providing the products inside TSB boxes

TSB will be using local businesses all over the Tennessee area which aligns with the company’s vision to help support small businesses in the Tennessee area. Small business is the backbone of Tennessee’s economy and supporting those businesses helps both them and Tennessee Strong-Box.

Karma on Church Street

The Peanut Shop in the Arcade

Poppy & Monroe

Tempered Cafe & Chocolates/The Green Hour

Eighth and Roast

Kore Nashville

Music City Tea

All American

Mountain High Outfitters

5.11 Tactical

Patagonia-Nashville

Friedman’s Army Navy Store

SuperNatural Hair and Beauty

The Bubblery Nashville

The Good Fill

Abednego

Elle Grey

Living with Landyn

MODA Boutique

The MOOSE Nashville

Nashville Lifestyles

Imogene + Willie

Academy Sports + Outdoors

Two Old Hippies

Savannah’s Candy Kitchen

Legends Gift Shop

The Cat Shoppe

Nashville Crystal Store

The Candle Bar

Vincent Peach Fine Jewellery

Slumerican Made

ABLE

(Brantley, 2021).

Production

When a customer signs up for a subscription they fill out a preferences section which allows Tennessee strong-Box to get a more personalized idea for each customer. These preferences can be changed by the subscriber at any time. The selected preferences are used to customize the boxes, There really is no production involved other than getting the boxes made and then filling them with products that are already packaged from the local small businesses they come from. Each box will have the TSB logo on it and will include customized personal touches based off of the customer’s preferences.

Facilities

The team will work out of their home offices to process and ship orders, and all contractors maintain their own office facilities. Shopify will be used for shipping, warehouse storage and fulfillment. Tennessee Strong-Box is just starting out in the industry but it is important to have somewhere to store the packaging materials and the products that will be used to fill the custom made and designed boxes.

Once consumers sign up for TSB’s subscription box service their preferences are made available to TSB team members and by the next business day Nashville Wraps is given the customers preferences and designs a custom box for the subscriber for the first month’s box. The box changes each month regardless of whether the subscriber changes their preferences or not but the box design is always custom designed to align with the subscribers preferences. The boxes and any other customer specific packaging materials are then sent to a Shopify warehouse fulfillment center.

Once at the warehouse the boxes are then stored until ready to be filled with the products specified for each subscriber. Once the boxes are filled and it is time to get them shipped they are then shipped using Shopify Shipping services offered through the Shopify Fulfilment Network. (Nashville Wraps, 2021) (Shopify).

Equipment

Tennessee Strong-Box itself does not require much in terms of equipment other than the computer systems and the necessary software needed to communicate with team members, subscribers, investors and the board of directors. The team members also have to have the necessary materials and software needed to do the advertising and marketing of the company and its products. Along with the above mentioned, TSB team members all have to have their own vehicles which are leased vehicles owned by the company and are traded in routinely to ensure the team members always have reliable transportation.

Other equipment includes:

1. A unified phone system that will help in the connection of phone numbers via a precise switchboard.

2. File storage and sharing that enables emailing of documents to numerous staff.

3. Social media channels, to deliver instant communication, such as Twitter, YouTube, and Facebook (García et al., 2016).

4. Meeting space is where the communications can be carried out via virtual spaces and can accommodate numerous attendees within a specific period.

All other equipment is owned and operated by Shopify Fulfilment Network employees and the carriers that are responsible for the delivery of TSB boxes to consumers.

Shipping and fulfilment

Tennessee Strong-Box will fulfill orders using Shopify Shipping for the foreseeable future, and may look into local fulfillment options or contractors to help scale if orders take off, or during busy seasons. (Shopify).

Inventory

Given the custom nature of the subscription boxes and the customized variety of products in each box and the changes that occur each month to include the most recent products, Tennessee Strong-Box does not stockpile inventory but does have to keep some inventory on shelves to be the most efficient in operations. The type of inventory includes a variety of products from each of the businesses in Tennessee whose products are featured in the subscription boxes. Most of the inventory includes certain packaging materials that are used on all boxes and mainly replenishables such as makeup, jewellery, sporting goods, outdoor, grooming and beauty products. The inventory that is kept is products that do not change or they change very rarely and are for repeat customers. These include only products that are non perishable and are not regulated in any way which none of TSB’s products are anyway.

Staffing

This is a process of hiring competent eligible people in the company for particular positions. There are various essential elements of staffing such as;

Estimation of Workforce Requirement.

This involves assessing the workforce requirement of the company, including the type of workers and their number. Job requirements and desired qualifications are further evaluated.

Recruitment.

This is an essential element that entails searching and motivating many potential employees for a specific job in a company.

Selection.

It is a central element where the most qualified applicants are chosen from a massive number of them. In this case, the applicant’s capability and the type of work should match perfectly (DeCenzo et al., 2016).

Commissions.

In the sales process, the commission is an extra compensation the worker gets after they meet and exceed the minimum sales threshold. There are several elements of the commission structure. They include;

It is knowing and understanding profit and sales objectives and your sales spending budget. This will help in determining the target to set for the salesperson.

Considering and assessing every sales position’s job factors is another essential element that every salesperson must consider.

Determining individual sales objectives and fair compensation for all sales positions. This is quite important since every salesperson must set attainable targets and receive the best balance according to their accomplished goals.

Quotas

A sales quota is typically a target sales reps set for a particular period, such as a week, a month, and a year. There are essential elements of a sales quota, including;

Choosing a quota strategy that aligns with one’s business. Since there are different sales quotas classes, each has a different role and appropriate for a particular business objective. As a result, the kind of quota selected must be utilized in setting one’s baseline.

Considering one’s target review period is another vital element in which sales performance is measured. For instance, a short-review period (weekly or monthly) gives the sales manager an opportunity to address rapidly and correct performance inadequacies. Nonetheless, one’s particular business will vastly determine their review period.

Measurements

When considering the business’s operations, there is a need to consider better ways of implementing strategies to realize the ideal results. Ideally, marketing strategies are suitable in ensuring proper implementation and upholding of business operations. Various marketing mixes including price, products, distribution, advertising, sales team, publicity, and promotion, are central to sustain competitiveness in the market realm. As an entrant into the marketing world, as business leaders in Tennessee Strong-Box, we should ensure its progress and competitiveness by providing that all these marketing strategies and mix are operational and practical. The company’s product-line goal is very fundamental. The set objectives should be precise and sound, and subsequently, the prevailing product line must meet the set objectives. The buyers’ attitude and knowledge towards our business’s product quality and brand must be improved to increase sales, revenues, and competitiveness.

The marketing team must consider the pricing goals, strategies, policies, and procedures based on its price. It should further ensure that prices are set based on the cost, competitive criteria, and demand. The consumers should be able to see our company’s prices being in accordance with the value of its offer. Moreover, the price strategies should be compatible with the distributors’, dealers’ and suppliers’ needs. The distribution goals and strategy must be well set to ensure a comprehensive market coverage. There is a need to have influential channel members, including dealers, distributors, and brokers. If any of the distribution channels proves inappropriate, there is a possibility to change.

The company’s advertising objectives must be precise, sound, and useful. The respective department must ensure a suitable amount of money spent on advertising strategies. It should precisely choose the appropriate advertising media and ensure the adequacy of the internal advertising team. There should be sufficient and effective utilization of sales promotion devices, including displays, coupons, samples, among others, to ensure increased competitiveness and success. Providing increased sales and thus revenues. The salesforce objectives are pivotal in ensuring that customers’ right information and the right product quality are supplied accordingly. The salesforce will be organized along with suitable specialization principles based on product, territory, and product to ensure increased sales and revenues. Again, the procedures would be sufficient for setting quotas and properly evaluating performance. The firm’s sales force must be effective, experienced, and competent compared to the competitors’ sales force. Ensuring their competency in the marketing realm and increased revenues.

The Performance Milestone and Key Metrics for Measuring Success

1. The goals set must be in collaboration with workers by management via SMART goals.

2. Besides goal establishment, there ought to be an ongoing review and evaluation of the set goals.

3. There must include consultations and discussions with third parties belonging to workers by the management for performance evaluation of the milestones and recognition of accomplishments.

Service Blueprint Mapping Customer Relationship and Transaction Process

1. Distribute and experience that can be enjoyed throughout the customer journey

2. Ensure that you strengthen the collaboration amongst sales teams of marketing and the client’s personnel service.

3. Identify those opportunities and leads that are worthwhile.

4. Keeping track of the leads, opportunities, and the potential customers

5. Carry out marketing of the targeted campaigns

6. Offer robust information to help the staff in future business strategies and plans.

Risks to the Virtual Business and how to Mitigate Them

Security risks

There is a possibility of the information being hacked or breached. The process of mitigation is through the implementation of a cloud-based system and the two-way process of authentication.

Physical risks

The physical tools have the risk of getting damaged. The employees might be at risks of becoming ill—the mitigating method through maintenance and rapid replacement and facilitating medical facilities and checkups for the workers (Nærland et al., 2017).

Behavioral risks

This includes the workers being harassed, misbehavior of some workers toward the rest and management. The way that can be used to mitigate such risk is to provide pieces of training concerning behavior.

Financial Plan

Sales Forecast

https://docs.google.com/spreadsheets/d/16ZmQPlmx78t0rEOkNSY4WA0a8G8Hp0pNKHRQrbYy-t4/edit#gid=1007781135

Break Even Analysis Data

https://docs.google.com/spreadsheets/d/1fOuXGI8xqC0WI0iwQjbe6bYsh3TO-exCWmr79_fh40U/edit#gid=107448632

Break Even Analysis Chart

https://docs.google.com/spreadsheets/d/1fOuXGI8xqC0WI0iwQjbe6bYsh3TO-exCWmr79_fh40U/edit#gid=1059607023

Operating Budget

https://docs.google.com/spreadsheets/d/1vbV81PEWqDwVzBSsXpquYGnpU00nymw6/edit#gid=1356631913

Expenses

$30,000

$4000

$6000

$1000

Year One Expenses		1st Quarter	2nd Quarter		3rd Quarter	4th Quarter
	Shopify Fulfillment Network			$30,000
	Technology						$4000
	Leased vehicles						$6000
	Phone						$1000

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Shopify Fulfillment Network

$40,000

Technology

$4000

Leased vehicles

$6000

Phone

$1000

Year Two Expenses
			$40,000

Salaries for the Team

CEO – $50,000/year

COO – $50,000/year

CFO – $50,000/year

CTO – $50,000/year

Fixed Costs

The fixed costs for TSB include the salaries of the team members, Shopify Fulfilment Network, Technology costs, Leased Vehicles for team members and Phone.

Year one fixed costs per year are:

· Salaries = $200,000

· Phone = $4000

· Leased Vehicles = $24,000

· Technology = $16,000

· Shopify Fulfilment Network = $120,000

· Total fixed cost = $364,000

Year two fixed costs per year are:

· Salaries = $200,000
· Phone = $4000

· Leased Vehicles = $24,000

· Technology = $16,000

· Shopify Fulfilment Network = $160,000

· Total Fixed Costs = $404,000

Variable Costs

· The variable cost of producing one basic box subscription TSB box unit is $10.00 which means a revenue before expenses of $29.99 is seen per unit.

· The variable cost of producing one premium box subscription TSB box unit is $30.00 which leaves a revenue before expenses of $69.99 per unit.

Projected Profits Year One

TSB has projected fixed costs of $364,000 for year one. By taking out the variable cost of producing one basic box unit the unit is $29.99. The sales forecast shows 7950 basic box units sold in a year. TSB has a sales forecast showing 4450 premium box units in year one being sold for $69.99 after the variable cost of production is deducted.

· 7950 basic units sold at $29.99 = $238,420.50

· 4450 premium units sold at $69.99 = + $311,455.50

Total revenue minus variable cost of production year one = $549,876.00

Year one revenue =

$549,876

Cost of goods sold minus variable cost of production per unit = – $364,000

Gross profit projection year one = $185,876

Projected Profits Year Two

TSB has projected fixed costs of $404,000 for year two. By taking out the variable cost of producing one basic box unit the unit is $29.99. The sales forecast shows 11,275 basic box units being sold in year two. TSB has a sales forecast showing 6800 premium box units in year two being sold for $69.99 after the variable cost of production is deducted.

· 11,275 basic units sold at $29.99 = $338,137.25

· 6800 premium units sold at $69.99 = + $475,932.00

Total revenue minus variable cost of production year two = $814,069.25

Year two revenue = $814,069.25

Cost of goods sold minus variable cost of production per unit = – $404,000.00

Gross Profit projection year two = $410,069.25

Legal

Tennessee Strong-Box chose to form our business as a Limited Liability Company (LLC). An LLC is a business structure that gives its owners corporate-style limited liability, while at the same time allowing partnership-style taxation (Mancuso, 2007). This type of company separates owners from the LLC’s business debts and claims. TSB’s personal assets (cars, houses, etc.) are covered if the company runs into problems. With an LLC, TSB reports its share of business profits and losses on personal income tax returns. We don’t foresee being sued for anything but personal bank accounts are covered as well in these situations.
In the state of Tennessee where the TSB company is located, there are state specific rules and taxes. The Franchise tax is 0.25% of the greater of net worth or real and tangible property in Tennessee (minimum $100) and the Excise tax is 6.5% of Tennessee taxable income (Tennessee, n.d.). State taxes for the company are due the 15th day of the 4th month following the close of our books and records.
All necessary information for the business license is on Tennessee Department of Revenue site. Documents can be filed with hard copies or done on the registration site located at
https://tnbear.tn.gov/Ecommerce/RegistrationInstr.aspx
. If we have additional questions we can attend the Small Business Orientation on Thursdays hosted by the TN Small Business Development Center with help from the IRS.

Protecting Intellectual Property

Tennessee Strong Box (TSB) has protected its company name in Tennessee when it registered as an LLC. This does not provide any protection outside the state. It is possible that someone in another state would duplicate TSB in the future. To prevent this from happening, there is a need to trademark the company name and logo through the United States Patent and Trademark Office (USPTO). There are associated filing fees ranging from $250-$400, depending on the class of the trademark. It is not mandatory, but TSB will hire an attorney specializing in trademark law to facilitate the process and handle all other costs. The USPTO lists all associated fees at:

https://www.uspto.gov/learning-and-resources/fees-and-payment/uspto-fee-schedule#TM%20Process%20Fee

Trademarking provides exclusive rights nationwide with identified goods and services, legal presumption of ownership, and registers with the USPTO database. The database prevents others from selecting a confusingly similar logo when they file. There is no need for copyright or patent protection because TSB does not create the items inside the box, only the delivery service.

References

Brantley, A. (2021). 28 Great Nashville Small Businesses.

Retrieved from:

https://parthenonpub.com/2016/11/23/28-favorite-nashville-small-businesses-neighborhood/

Chipeta, C. (March 30, 2020). Unpacking Subscription Box Market Trends. Retrieved from:

https://conjointly.com/blog/subscription-box-trends/

Christopher, M. (2016). Logistics & supply chain management. Pearson Uk.

DeCenzo, D. A., Robbins, S. P., & Verhulst, S. L. (2016). Fundamentals of human resource management. John Wiley & Sons.

Fabregas, K. (December 27, 2017). How Order Fulfillment Companies Work. Retrieved from:

https://fitsmallbusiness.com/how-do-order-fulfillment-companies-work/#:~:text=Fulfillment%20companies%20handle%20inventory%2C%20order,development%2C%20and%20other%20growth%20drivers

García, A. A., Bobadilla, I. G., Figueroa, G. A., Ramírez, M. P., & Román, J. M. (2016). Virtual reality training system for maintenance and operation of high-voltage overhead power lines. Virtual Reality, 20(1), 27-40.

Gregory, A. (June 25, 2019). How a Subscription Business Model Works. Retrieved from:

https://www.thebalancesmb.com/how-a-subscription-business-model-works-4159768

Hofstrand, D. (2017). Product life cycle. Iowa State University. Retrieved from

https://www.extension.iastate.edu/agdm/wholefarm/html/c5-211.html

Limited Liability Company (LLC). (n.d.). IRS.gov. Retrieved from:

https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc

Luenendonk, M. (November 24, 2020). Understanding the Marketing Mix Concept – 4P’s. Retrieved from:

https://www.cleverism.com/understanding-marketing-mix-concept-4ps/

Mancuso, A. (2007). Form Your Own Limited Liability Company. (5th ed.) Nolo. Retrieved from:

https://eds-a-ebscohost-com.libauth.purdueglobal.edu/eds/detail/detail?vid=7&sid=736b78f9-5f47-477b-ad3f-323448dbef30%40sdc-v-sessmgr03&bdata=JnNpdGU9ZWRzLWxpdmU%3d#AN=202284&db=

nlebk

Nærland, K., Müller-Bloch, C., Beck, R., & Palmund, S. (2017, December). Blockchain to Rule the Waves-Nascent Design Principles for Reducing Risk and Uncertainty in Decentralized Environments. In ICIS.

Nashville Wraps. (2021). Nashville Wraps. Retrieved from:

https://www.nashvillewraps.com/

Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design: How to create products and services customers want. John Wiley & Sons.

Pullman, E. (February 15, 2021). The 21 Best Subscription Boxes for Women-2021 Readers Choice Awards. Retrieved From:

https://www.mysubscriptionaddiction.com

Petro, G. (2019). Why subscription boxes are here to stay. Forbes. Retrieved from

https://www.forbes.com/sites/gregpetro/2019/04/12/why-subscription-boxes-are-here-to-stay/?sh=250812447037

Tennessee Department of Revenue. (n.d.). Franchise & Excise Tax.

Retrieved from:

https://www.tn.gov/revenue/taxes/franchise—excise-tax.html

United States Patent and Trademark Office. (n.d.). Trademark basics.

https://www.uspto.gov/trademarks/basics

Sendor, S. (February 08, 2021). The 13 Best Subscription Boxes for Men-2021 Reader’s Choice Awards. Retrieved from:

https://www.mysubscriptionaddiction.com/best-subscription-boxes/best-boxes-for-men

SCORE Nashville. (2021). Diane Lockhart. Retrieved from:

https://nashville.score.org/mentors/diane-lockhart

Shopify. (n.d.) Shopify Fulfillment Network. Retrieved from:

https://www.shopify.com/fulfillment

Turn in your highest-quality paper
Get a qualified writer to help you with

“ Power point notes ”

Get high-quality paper

NEW! AI matching with writer

Hire a Writer

Client Reviews

4.9

Sitejabber

4.6

Trustpilot

4.8

Our Guarantees

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Money Back

If you're confident that a writer didn't follow your order details, ask for a refund.

New to Your Trusted Assignment Help Service? Sign up & Save

Calculate the price of your order

Type of paper needed:

Pages:

You will get a personal manager and a discount.

Academic level:

We'll send you the first draft for approval by at

Total price:

$0.00

Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.

Power up Your Study Success with Experts We’ve Got Your Back.

Order Now Order Now