We choose to found a new limited liability company with the elements of partnership and corporate structures.
The founders are becoming the graduate of Hong Kong Polytechnic University. So we have variety of business skills, from Management, Marketing, Accounting, and Finance. Most of we follow Entrepreneurship courses. We have also strong negotiation and strategic skills to manage and grow the venture. We know that we have a lack of engineering and design skills, so we plan to hire qualified personnel of engineers and designers to support our operation.
The name of the pillow is "BeCozy". We have huge ambitions for our pillow. We want to make a luxury product, the reference in the field of multifunctional pillow. All the components of our pillow (Music speaker, LED Substrate, Control panel with the battery, aroma diffusor and massage vibrator) will be excellent quality. The pillow itself will be made with a viscoelastic foam material, a memory foam and feather (Cf. part VI b)
[...] The price should be around 7500 HKD per month. Then, we will have also to employ some office worker for the office duties. Designers, office workers and the top managers will work in the office located in Hong Kong. Engineers and workers will work in our factory. b. Process for monitoring progress Our goal for the selling part is to sell ten thousand pillows by months in the Chinese market. We will have some retailor who will sell our pillows and also a website of our company where customers can order their pillows. [...]
[...] Sales revenue and COGS Our products are range from pillows, aroma refills, batteries, and exchange covers. The pillows are the major products, and all other products would be considered as accessories. However, we assume the sales volume of accessories to be 2,000. The price of aroma refill (cost: is HK$50, that of battery is HK$100, and that of exchange cover is HK$50. However, I suggest these accessories can be sold as a package of a price of HK$150 that would be used as calculation of sales. [...]
[...] Also, it is necessary for us to improve our brand recognition that helps enhance the responsiveness from our target customer. Because we are the new player in this market, we do not have considerable history and background, in order to compete with our competitor, it is suggested that launching more events or sponsorship for enhance our recognition and help enhance the consumer acceptance as well. Product technology: Product technology embraced the stability and quality problem of the raw material, production process and product. [...]
[...] In addition, we calculate rental expense of office rental expense of Tsim Sha Tsui store ($2,400,000), interest expense of Heng Seng bank loan and Government loan insurance of factory (36,000), logistic expense ($600,000), advertising expense ($10,000,000), IT expense ($12,000) and salary of five in-store salesperson $8000 = $480,000). So we summarize these revenue and expense in the financial statement. The Statement of Profit and Loss is as follow: So I would say that the company has a great potential to earn about $65 million Hong Kong Dollar a year. It has a high value for return of investment in the company. NPV Thus, the NPV of investment in the company would be presented. [...]
[...] The risk of product technology may cause a huge loss for a company. Therefore, measures for protecting own product is needed for the new product development. There are several controlling measures to avoid this risk. Register the patent & design, a patent protects company invention by giving company, the patent owner, a legal right to prevent others from manufacturing, using, selling or importing company patented invention. Before register the patent of our product at The Intellectual Property Department, we are going to prior art search to ensure our patentable invention must be new and prepare the specification of our product, which is Description; Drawings and Claims and Abstract. [...]
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