Industry sign banking hawaii business plan template computer
good afternoon thanks for coming this is our 18th annual business plan competition at University of Hawaii I'm Peter Owen I was gonna fill in say I was Susan Yamada but I'm the executive director of pace the Pacific Asian Center for Entrepreneurship at the Shidler College of Business I took over from Susan this summer and I wanted to thank her for giving me for making it really hard and making it really easy so she made it really easy because it's a wonderful team of great programs and it makes it an easy wonderful job she also made it really hard and so I'm not that grateful for that part because it made it really hard for me to have some kind of meaningful impact I'm still I still work on that but even though I want many months it I still you know feel like I'm benefiting from the new dive engine so and so bare with me so we're really proud to organize this again for the 18th time and the program wouldn't be a success without huge amounts of Health particularly from our sponsors so first I'd like to give a big thanks to our title sponsors hei Charitable Foundation and Hawaiian Electric Company's their partnership and involvement an investment in pace makes this all possible so we might you also have wonderful sponsors for our our prizes for tonight so the University of Hawaii office of the vice president of research and innovation hi V Pia ARMA from pineapple Tweed and Greg Kim from conversion law group so this is a multi round competition it's a semester long project it starts in January with a pitch party and actually a couple of folks made it all the way through from that party to this which is wonderful the students will tell you that it's a pretty intense program and over the past three month participating teams were asked to submit product market summaries they wrote comprehensive business plans and they prepared compelling presentations I think you'll find these finalists all of them are very compelling so pace provided somehow along the way we partnered with the accelerating age and Kenobi margins to hold to Saturday workshops called entrepreneurial boot camps and we gave you the team's exclusive access to our wonderful co-working space well space come visit Society and each semi-final team was also matched with the dedicated cook from the business community to assist with the development of the nooses plan and this this presentation so can I ask the coaches who are all volunteers and put in a lot of time the kindness of their hearts as a stand-up so very much [Music] so just finalist teams congratulations you made it this far got a little bit more work to do now I our briefing I made sure that the judges know that there's no percentage for you and that'd be nice sorry there were many upsetting ideas it should be very proud to get you to this final it's a pressure different driven and time-consuming silently know and and work very proud of your treatments that you should be too so I'd like to welcome now our distinguished panel of judges unfortunately Eric Clark couldn't make it tonight so we have three which i think is a good number so there'll be no ties no chance of the time so David I is the director of office of innovation and commercialization and hue she's the chief innovation officer at the University of Hawaii system so thanks to you Shelly she were a senior vice president of business development and strategic planning at Hawaiian Electric Company I just found my rockers most of you know my hat is the president CEO of Blue Planet software and the founder of startups so I'm almost done for you you can read the text files and let's see you have a difficult task there's four excellent teams and they're competing for prize money that is a real denomination so before we begin the presentation I have a couple of housekeeping announcements it sounds a little bit like scolding sorry you're not allowed to interfere with the presenters or their judgments of no passing or anything like that so please try not to cause disruptions while presentation during session so I guess that means if you have to try on tea and then take a moment to turn your phone off and each team's gonna have ten minutes for the presentation and then ten minutes for tough to an end so let's get started so the order of the presentations is bursting that Rhonda you second team is Gro May 13 is Rose Bowl attempts and the 14 is my drive so you have your order right okay [Music] [Music] any houses ever [Music] where's he running you and I think first route by a Houston team yourself so Ryan Theriot myself I'm doing Commission so three of us are actually trying to enroll here is avoiding for grad students in their science and what we like free to this in our background collaboration systems so the three of us combined we have over ten years of experience in collaboration spaces in particular with a software piece called sage - that is National Science foundation-funded and what that is is a piece of software to help with data analysis organization collaboration and high resolution environments so most of you may be familiar with these communication pieces of software so Skype a house way back soon addressing a name a few and what each of these do if the big boat but each of these do is that they focus on communication so bringing people to people but they're not actually designed to help with say getting work done besides conveying information and even these companies have recognized these limitation and offer are currently offering separate pieces of solutions so for example Microsoft is offering myself service hub and attaches an eight thousand dollar piece of hardware that is static is one display and they'll Google Network also a single large display five thousand dollars minimum because you'll also have to either an annual fees finally a Cisco where they offer tough well and direct work and some things in common that they all have is their version collaboration work is enabled wrong that's almost about it but the other thing is that this partners you're locked in do you buy it it only runs their stuff so arbitration so what we have is a web-based solution you can access it through the web browser there's no easy install so think there's no need to set up prior accounts and what we address is that when you like the next with meaning you don't have to have a blog and how so so this removes any venture barrier so anyone who you have joins the meeting that knew they have you to suffer before you don't have to worry about having these salts or ahead of time for anymore is that this is cross-platform it works on Mac Windows and multiple devices so like I've had third is that we are focusing a workspace so all the changes all the data are synchronized across all the devices sorry addresses should be showing how these up over before that yeah so this is a working prototype recording the ideas are they operating system logic browser can actually what a page I you specify name and which route do you want to connect it actually login you'll get it for space so from here all the content on the wall is an individual by everyone so it's democratic is equal rights drag-and-drop dad more content and what some people give that download it's you have to worry about other systems to get that information that you are dependent on you're searching multiple users of all the views are standardized across the devices so I feud right now you see that was swishing back from grounds of her body no live far as ident so his views synchronize with what were shown so when people say about this whatever they seem when we talk about the interspace so their face might be say a the resource up or over other commercial solutions in part because of the features that we developed at a lot and who is out mountain and they salts 82 they were interested in also the same reasons features offered that other students do not have but they've been certain ones that they want to work with a company for a visa Defense Information Systems agency they also son as well and they were willing to are considered the possibly working with us you can find the security standards for Department events finally started coda they a lot producing the first site request to be part of the test and in particular they noted that the dynamic nature the non-locking usage of how to display organize the data was what they are most interested in so the marketing we had four groups medication and multi and across communication and press five occasion services and virtual office space rot abuse is a nice spot in the center or we can fight for all four but not have to size this also anyone in a example of the scenario instead of making a face narrow we're gonna go with what we've got it's getting so far scary music when we show these show people our product what we are gonna share is instead of our own what someone else the vision that we use and particularly real estate so be sure to introduce a agent there are media top bosses was this was a great way to share clients what they want kind of work our show them all the houses in the inning have them decide reorganize put post-it notes about they want more information on what they like what they dislike fireteams Booga was especially interested in hotshot diagrams get information all in a row in his face reorganize to point out things and marca potentially what needed to be addressed in the infusion and have this persistent idea board so our pricing is designed below to the progress and in favor or office so in beginning we have a free here where and I'll be the room yeah I just maybe you're not sure elusive life you're not sure if it is right for you so this is easily attested without committing fraud next is the basic plan that's designed for the average being size nest is or six users and that will increase of ugliness and there's no knowledge loss so findings are 512 users the ideas of this very large project groups for people for our clattering for work not necessarily communication and that's a $35 month so today I mean I it's based on April AdWords for every tune up so far that was two and these are targeted use so that Hawk random people who see the site will be looking for producing platters and systems of workspaces and communications so this is this man that roughly five percent will be Pinterest users and majority of that will start on the street in the sauce so I thought that maybe five percent would be willing to pay to support their group size after six months the expectation is we'll have roughly 20 percent conversion from tree to the base button and a five percent conversion from basic to profile so there is the amount of people may lead to a bicycle batch basis and the cost of acquisition per user in roughly ten dollars with a lifetime value on one year at $60 so the ratio would being three puts it as a viable term so the best pace we're actually looking for a much larger buying again that is in percent but of the users who join us in her six month or more length paper and after the six month period for the conversion they'll be a high converting from sheet three two basic and likewise from basic growth ratio from the lifetime valuable increase increase in the viability so our ideal start timeline is from right now over the next six months or in this unit all of this with who are getting me infinity feedback we have resentfully opening for other companies as well to be part of the test group after that is the tester these where we've been professional corporate customers in particular assignment habitant to get further feedback pen and i in particular identify bugs or particular users cages that we need to further work that will further refine that is marketing advertising so a lot of money lender once you know how to get the word out how to convince people to at least tested bigger let's read them and then and find these initial release or will be trying business schools and five teams thank you so my name is Omni our hockey thank you for taking the time this afternoon to come to the competition my partners are Sheikh Mohammed Vico and Billy Allen so our company is called romaine and we bring living gourmet crops into culinary spaces for chefs and cooks who enjoy a relish of a harvest freshness at their fingertips so in a sense what we bring is live crops not harvested not cut so the differences are these plants still have their roots and so we specialize in that type of technology that's what my wife's dysfunction that allows us to maintain living products within kitchens and this is very important for several reasons so to business overview alright so we are going to call a CEA or Control Department of Agriculture we practice growing plants in laboratory settings so we are very hygienic we are very clean we do not have pests we do not have vectors for infection from like from one disease we do not have a coli Salmonella or a hepatitis A which you know it's kind of the most recent kind of outbreaks and so some of the things that we do do and this is in our laboratory this is somebody else's concept of what an indoor or enclosed growing structure looks like this is amara Japan and so they produce 2,500 heads of lettuce per day and they have 22,000 square feet of space we have much less but we're able to produce much more and these places as much as what they're able to do and I have a mathematical model so answer that question later during your name all right so during this year one we're going to be setting up our operations year to two years to be able to see some expansion some sales increases see Bravo in more squared area that we'll be using or cubed area actually on the Big Island and years three to five this actually plus he is developing our primary factor so initially you plan to have two different types of purposes a primary content a secondary thing our primary product is going to be part of this rated structure so it's going to be high demand of a low value both to find out so think of herbs those are going to be our primary income generators and then at the same time we are going to be developing a long-term stock this is a wasabi plant in Japan so if you know sushi actual wasabi not the green case that you get out of the tubes this is actual wasabi and in 2014 ABC set the retail price and that's in the UK after turning 16 US dollars per pound of wasabi and in Japan which I just came from in February it actually can go even higher than that so it's a very expensive plant but it takes two years to make sure and that's why we need them initially infrastructure and a long term investment structure okay so to talk about our innovations Shekinah is now going to demonstrate some of the products sorry [Music] okay so what we've got here this morning I went to chef song so I want you guys to put on your chef status for ten with or do you know if you guys cook you're home that's good too I mean we will also want our most nutritious most highly dense types of products to cook from for your kids your family right so this is what you get from white - all right chefs um this is oregano and this is so I was talking to the produce manager yeah you guys can all sample leader in the room over there totally come and smell trying tastes totally check it out okay it's worth seeing all right so just a few mom's okay if you come to the box okay so this is what they sell for five bucks okay you can see the leaves are kind of small shriveled up plaques are a little bit desiccated or a little dried out try smell strong smell light smell no smell okay try tasting a small beer just a little taste okay and then you guys got large goods to wash it palette the flavor I wanted to taste that - go for it we watched the ones those ones have to do to this one patient I have manners alright okay so this is our product okay so this is ours and this is luck so we took this out of our system today that's not good okay you guys know this difference is right there's more oil not as much smell or characteristic and that's because the plants are alive see when you pick a plant when you cut all of those nutrients that essential oils start beating the plant because they no longer have the without getting too scientific they don't have the necessary force to hold them within the plant so those leaves lose them
very rapidly and I'm talking to do a produce manager that chefs are they receive have oregano on Tuesday this past Tuesday so they weren't exactly fresh they're kind of fresh in the ballpark but they're what's available to make ours is very fresh and it's traveled zero food months those depicted right here so not even a mile okay all right so some of them our innovations we don't do soil if you want to take a look at the plant in there no soil Mulder so there's no e coli or Salmonella possibilities no vectors for them they have an altered cooking process alright so let's get back to the talking days things I make mechanical engineer by trade so I like to talk a dose not really the financial models so I gotta stay on point hi okay so let's look at the financial scenarios here so this is our very how should we say conservative view I think it's a proper term we for our sales structure we're saying or shorting ourselves by 25 percent throughout the first 5 years so we're making less money that we mean and we're projecting but because we're running very lean so my family has a home on their Hawaii high and because this is an enclosed space I was able to convert a good portion of the house into a laboratory and I practice with HEPA filters so it's very clean and we're able to conserve long rent we're able to conserve on electricity because our process is variable power I've been researching this process over a six-year span and it is by far the most efficient thing that I have been able to design there so this is a conservative you visit your average use so the right graph there as if we make our sales goal and and then this is an optimistic curve where are we saying we're winning the competition to get first place so that's that little bump up in the beginning we get a little bit extra capital so I can expand faster we have seven acres on the Big Island waiting for us to develop and so we can kick them off of it a lot easier on the sooner that's that major dip right there which means that we get more mature wasabi plants ready by gear three your four years five which means that we have a greater standing crop value by your five for our bottle and I'll take us to our exit strategy where something would be very happy with me at this point so exit strategy we hope to attract the attention so that's so why haunted Anil Tommy one of the major distributors and get them interested and neither flashing us with it you know they buy us out so they can take over the operations and I can retire to some water that's an expensive or they want to collaborate with us because right now they have to import wasabi and that's mainly coming from Japan and it has to be a way to eat it before we eat itself that's all it's great to Buffalo a little bit more all right folks so our exit strategy we have five times we turn on a lot by year three and ten times by year for so we're performing a lot better because our second crop value is increasing in value the longer it sits there and doesn't sell so we're appreciating overtime but they would be buying our structure it's mainly what they'll get all right I'm wrapping it up all right so there's the funding which you guys already seen so the ten thousand that we could win today before we begin I want to talk about the digital dynamic behind our business so the digital age is bringing a change in consumer spending habits where businesses now have the opportunity to place their product into the hands of the consumers well they're working while they're walking even sometimes while they're driving consumers spent four hundred and fifty three billion just on online purchases and this was a 16 percent increase from 2016 2 2007 we plan to capitalize on this digital age by providing seamless way shop online so my name is rose volunteer now the founder of rose gold chunks my name is Takao shadow and I'm the director of marketing - water the American operations new Warby Parker jewelry offering affordable luxury for a direct-to-consumer distribution line so each of our pieces are solid 14 karat 18 karat gold with diamonds and gemstones and I created rose gold gems because I believe you shouldn't have to take between accessible price and high quality and so our objective is to ride every day find everywhere for the hard-working woman so first question how large is the jewelry market well as of last year online jewelry sales alone were fifteen million dollars and by the year 2020 month that number is expected to jump up all the way to 30 million dollars so as you can tell this is a market that's growing pretty rapidly with the compound annual rate of 70% and seeing that Millennials are the ones paying the most time online our customers are going to be the 46 million young female professionals in the US ages between 20 to 35 and these are most important customers and it will have an annual between 45,000 $200,000 and we'll be living in urban areas as well so the total available market of 2021 on results expected hit 30 million and of this the Millennium expenditure is loosening and we estimate our target market to be 3.5 billion so as we transition into a digital world ecommerce gets growing quickly and there is a skyrocket and digitally native friends by definition these are brands to report online and they have strong focus in the customer experience these graphs have the power to control their own distribution their ground story and really the residue is directly to the consumer a superacid understand this connection ROA luggage movement watches and stopping auctions in just a few years each of these online affordable electric browser able to hit the big millions in revenue so make some conversations when targeting consumers 61% of a 61% fitted that they had a problem to find affordable prices and high quality low low price tradition ease low quality and vice versa our customers being hanging is related to price and quality but other paints include you means of shopping stores crowded stores Park and unless election we knew it adds about to heart problems first yeah okay so first the customer problem and second is the industry problem and the traditional markup is often eight to ten times of coss wors only two to three classical and traditional brands must come for the ditional basic expenses such as the expense of bringing order of a distribution market retailer our online business model as to avoid any cost to be typically incur our online business model allows us to avoid Bank Gaza and typically in current - traditional brands as a result were able to provide value to our customers to lower retail price so Rose multi name value proposition is a workable we specialized in 90 days drinks we also offer a broad price range for our jewelry pieces we have a strong online focus and we also utilize the interactive crowdsourcing so I see probably tell marketing to Millennials is not like marketing to their parents or grandparents as they are digital natives at home alright as you see the jewelry retail market is headed it's highly active our main competitors are the wolf online and all playing each others however although well established these traditional jury ranks are having a bit about our time fully adjusting to the new majority because of their or a fixed image and because they market markers Generation X and the baby boomers these traditional jury grants pride themselves in their tiniest pieces however it is going to be a more modern trendy and contemporary piece that attracts Millennials today so I've shown here some of our main online measures include names like Blue Nile caterers and Newtown and each of these three companies have a focus on their engagement rings but through our market research we actually found that Millennials aren't interested in marriage for engagement rings seeing that implying that 69% of lives are you married as a result millennium disruptions are negatively affecting our competitors as they are struggling to attract new shoppers for example Tiffany and Co 2017 saw the net sales decline by 3 percent and even sing the jewelers saw declining net sales for the first time since in 2008-2009 recession ever with rose but with rose gold but we seeing that on a little marker price matched with our training designs we believe that we can be favorably and market for finder robotics so who are we to determine what's training well we do this by a few different methods the first is who better knows what Millennials want that millennial result second is we analyze the cells of our products obviously for price and selling they're not ready the third were utilizing we're utilizing a system aware of Crocs or Zeke there are social media platforms and for example this is what we did so we asked our target consumers which product they like better and exchange them for entertaining of free ring so this method is for consumers by consumers we also recently ran into math company and we generated over 10,000 questions in just four days so this summer we had a lot of interest in our online teaser and our one of our customer validation part two is actually converting this into our actual paying customers so we've been able to generate sales through our online website or Instagram right seeing through our pop-up shops so for example we recently did a collaboration with Lululemon and ready to eat and well we were selling from some of our pretty sure a business we were able to test the market and actually saw some of our old pieces since we're distributing our products that are directed and supermodel our main goal is to maintain a strong online presence as you see our website is launched and it's fully functional it's just the Internet is you can go to rose gold calm so we have secured partnerships with Drake Bell famous actor musician and comedian and at 11 a leading brand for athletic wear we will also maintain a strong presence through our unique marketing campaigns called Sandler phosphates and work for Kennedy so if your aprons making strong online presence respected and positive cash flow by YouTube this financial projections based on computer to credit functions so first it's based on an initial investment of $70,000 in which will give it a return times five by year five second the revenue and expense percentages are beasts from assumptions from based on actual result for my last story business so we know that we'll be able to solve this amount because we've done it before the last is that we compare different financial projections retain different levels of our target market so since no one can really tell the future especially the economy rejections of our optimistic level a bit above what a nice level growth slowed has also been featured in many perceives magazines in his Hawaii business magazine and clear magazine we've also been featured on think tech Hawaii we've also noticed if you're not making awards such as the Women's Business Enterprise National Council suit entrepreneur awards of the EO Jesse a oars of the 2018 Cape surges Choice Awards man like I said we've read in the works of a collaboration running so again my name is rose Wong the founder of rose gold gems I'm also the founder of a local jury Business Council ocean gems which I started when I was 15 years old seventy thousand body or four so he's my experience knowledge and resources selling a much smaller away market and our you know II want to expend too much more is larger in scale market I'm also the president of oyster entrepreneur answer to the shot that cloudbank original dedicated tell me student suppose we start and run dog businesses I have on my side archives she - my director of operations and Chinese Mandarin marketing cutting I our undergraduate stock Morris a traditional and cocky I was under graduated junior and regional until the really defining lady with you luxury by providing affordable prices still natural high quality for every day fine jewelr and right now we're offering extra school surprises for a limited time only and the keys record I know rules to get ten percent off just in time and to motivate [Applause] i'm jonathan weapon and this is Tom Knapp Ramos and we are Swiper at the gift wrap for digital beauty so imagine this I want to get you a present so I go to the store I think out something really nice I even go to the trouble of getting a gift wrap and I bring it to you not imagine your excitement as you pull off that bull and you ripped apart that paper to reveal that what I got you was a what I got you what they and I that cool right now imagine a different scenario I want to get you together a little story and I think out that same iPad but instead of getting gift wrap I just give it to you now you'll be appreciative you'll be happy but ultimately you would have missed out on the truth gifting experience currently the gifting experience is much like that second set where usually it's composed of a simple run-of-the-mill or an email where you just get a picture of your gift along with the gift code that allows you to redeem digital gift that you could redeem your gift later this is lacking the true gifting experience that's that's where Swiper comes in so who are you we're an online service what we do we innovate to improve the digital gifting experience by bringing the fun of physical gifting into the real into the digital world how do we do it we do it by enhancing the user experience by creating virtual gift boxes that users can interact with now how it works on the on the sender side when they purchase a gift the sender is allowed to go ahead and personalize their gift to fit the receiver on the receiver side they will receive a personalized swipe wrap email which will then take them to our experience engine where they will be able to interact with and unwrap their gift ultimately revealing their final digital gift what swipe wrap has essentially done is create a big line actual gifting experience in the digital world that's cool right we think so too but don't take our word for it with these simple mock-up slides that we were able to create in under 10 minutes we were able to conduct 52 random interviews in high density populated places and what we were able to find was a 74% of people were actually interested in using digital gift wrap to wrap digital gifts not only that we were able to find that they were willing to pay an average of $1 98 cents per wrap some people were so excited about swipe wrap that they were willing to pay upwards of $5 to wrap digital gifts so we realized that those cases were a bit extreme so what we did was halation redid the average and what we got was a price point of 99 cents per rep so now that you see that people are interested in Swiper and you see that people are willing to pay for swipe rap let's show you the future of digital gifting so imagine there's a big concert coming on you want to take your significant other you want to surprise it with a ticket so you go ahead you purchase a ticket and you want to ensure that that experience or that that surprise is as special as possible now with a simple click you could wrap it with Swiper imagine you want to surprise a family member with a surprise placing into New York City you spent thirteen hundred dollars on that you want to definitely ensure that that expect experience is as special as possible now you do now that you'd rather this slight back it's your nephews birthday you want them to be able to get themselves some of you nice you get a gift card you want to give them a fun experience while you're at it why not do it with swipe that it's your cousin's graduation you need to get something so you just decide to send them plain boring right right so now you can actually take that plate lure gift and make it fun with swipe wrap the digital gift card market in the u.s. is eight point five billion dollars with a twenty percent growth rate imagine what we could do if we can capture more of the digital gifting market other than just get a card engine so we can't change the world overnight therefore to penetrate the market we're playing on Tinian three-pronged approach our first problem which is our partner innovations we saw before is our main revenue stream next we plan to use our website swipe calm as a means of propagating digital content of any type l
stly as a side endeavor we've plenty of swipe that technology doesn't marketable so for business partners we offer a free integration with a 50/50 revenue share on TV locator purchases this makes integration with white crowd and usually a visual on our swipe website with County native wrap anything approach so people can upload PDFs images videos anything representing dependable gifts they can wrap it and deliver a grab the side wrap not only that we're leveraging this natural shared nature of gifting to instill built in morality to our system so when we receive a receives a gift they actually get a free clean get around on swipe rascal now once we have those two systems fully built out functional we don't need to just sit around and wait for partners we can use WebEx technology to bring in new angles of digital discount offers so let's suppose people that's doing 10% off large pieces of them we can create an interactive branded experience that people can literally interact with their advertisement before we're doing that pile coupon well additionally we can also use the same exact morality engine to encourage those receivers to actually share their discount offer now and in fact this does two things first we have a very unique brand test point secondly we increase conversion rates on food by usage during this time we're performing 3px ATI's first we're perfecting the online digital gift wrap experience next we're building a large user base familiar with Swiper out and his wife crapper and lastly we're creating a large land of partners we have direct access to their deep poverty and all these three things combined makes it creates a very damaging for potential people wouldn't want to create their own digital games out ultimately it would just be easier and better to integrate those now in the long run we see two potential axes first we simply continue growing and leading to the future of metal I appealed alternatively we see Swiper as a desirable acquisition target in terms of my financials if you read our written business plan you in solving the exact approach where we build our own user base however in the new plan and our new financial law we took a more aggressive approach so we actually start off with an initial partner where we sell digital good friends as you can see looking a little bit more into our our net sales is roughly doubled our profit that is from a 50-50 revenue share somewhere in between years two and three we have it break you call the play at large we see a large kink in your three about 21 million dollars in revenue that comes and that comes from a generation with a high-volume digital different vendors as gift are calm weather recently Larkin I was a good price beyond that we're just dominating the market of digital Metro clean to a calculation 75 design now one thing that's important notice here this is only the u.s. in fact the u.s. is only one-sixth of the entire digital gift card market globally so this means we have big potential for Hydra our team is composed in Mokpo diverse scholars developers and designers but really at the end of the day we're just a group of people who wanna awesome now to end our presentation I'd like to give to show you how to use case from our youngest user today's [Music] [Music] [Applause] [Music] thank you all right well that's it thanks very much for coming [Applause]