Myra Bradburn, Viketa Edwards, Sebastian Miller, Waies Noorzai, Alistair Potts, Damon Shaw, Robert Richards

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14 Νοε 2013 (πριν από 3 χρόνια και 10 μήνες)

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Myra Bradburn, Viketa Edwards, Sebastian Miller, Waies Noorzai,
Alistair Potts, Damon Shaw, Robert Richards



Providing technology to further enhance users
interface with computers and software. We
continue to further our research to provide
the ultimate best technology for all ages. We
constantly learn from our previous
innovations and adapt to the rapidly changing
technological environment in the global
economy.



Voice
activated GPS navigation


Organizer and
planner


Applications
can be downloaded for a small
fee


Language tutor that
teaches


gives
feedback in 52 different languages


Companion Artificial Intelligence (AI
)


Voice activated Internet search engine with WIFI


Thousands of games
for educational and
entertainment purposes


Weather forecasting


Photo
album



Provides relief from boring and unproductive
commutes



Teaches language and provides feedback


Creates a personal experience with AI


Communicates as a technological and
entertainment device


Improves productivity by allowing for
organization and planning while you drive





Large scale radio advertising campaign


Supplemental online advertising on related
websites


targeting social networking and
virtual reality
users


Google keyword purchases


Online demo versions will be available on
company website


Partnerships developed with auto
manufacturers and rental car
companies



Primary target market: US and Canadian cities


Over 1 hour per day spent in traffic in major
metro areas
1
-
2


High levels of disposable income


Popularity of similar services


Knowledge of local market demands and
opportunities

Note:

1) Buckner, Stephen. (2004).
New York Has Longest Commute to Work in Nation,



American Community Survey Finds.
US Census Bureau News. Retrieved from http://www.census.gov/Press
-
Release



2) Ottawa’s commute one of the longest in the country. (2008, April 3).
The Ottawa Citizen.

Retrieved from



http://www.canada.com/ottawacitizen







Multiple GPS navigation services


Garmen, TomTom, etc…


Rosetta Stone language services


Indirect competition for audience attention
from radio and other music devices


Strengths:


Innovative technology


Captive audience for guaranteed amount of time


Unique product offering (no direct competition)


Technical resources and expertise


Individual customization


Consumer loyalty



Weaknesses:


Initial lack of consumer confidence


Restricted to automotive usage


Complex technological requirements


Reliance on satellite services for some service
offerings



Opportunities:



Attractive product offering to large consumer base
-

over 100 million potential consumers
3
-
4



Millions of dollars spent on similar entertainment
products



Combination of successful individual service
offerings



Increased demand in specific market segments



Expandable service offerings


Note:


3) Adapted from data collected. Nations Online.
The most populated cities in the United States.

[Data file]. Retrieved from


http://www.nationsonline.org/oneworld/most_pop_cities_usa.htm




4) Adapted from data collected. City Population. Metropolitan Areas and Agglomerations (Census Population). [Data file].



Retrieved
from
http://www.citypopulation.de/Canada
-
MetroEst.html




Threats:


Individual competitors (GPS services, Rosetta Stone,
etc)


Potential software issues


Driver distraction laws


Increase in satellite usage fees


New market entrants once product is established




The blue print of running Virtual Friend:


Money:


15 million dollars needed for cash flow, budget
and operations


Management:



organized structure




Note:

Biz Move (2009) 10 deadly small business mistakes



Retrieved from
http://www.bizmove.com/MSBcd.shtml



Small business (2009)
Operations Management:



Creating a Blueprint for Your Start
-
Up



Retrieved from
www.smallbusinessbc.ca




CEO

Executives

Management

Supervisors

Employees





Property and equipment:


Lease or purchase factory


Purchase manufacturing equipment


Vehicles for transportation


Inventory and supplies:


Batteries


Micro chips


Communication devices


Touch screen displays

Mio explore more (2009). GPS explained. Retrieved from
http://eu.mio.com/en_gb/global
-
positioning
-
system_what
-
inside
-
sat
-
nav
-
device.htm


Gaebler

(2009). Small business financial controls. Retrieved from
http://www.gaebler.com/Operating
-
Your
-
Startup
-
Business.htm










Note:


Garmin


Our biggest competitor


Average about 16 million units in sales
5



Virtual Friend wants 1/16 of the market share


VF Goal is to sell 1 million units



Note:

5) U. S. Securities and Exchange Commissions. (2009, Feb. 25). Filings & Forms.

Garmin LTD.




10K
-
Annual Report. Retrieved November 19, 2009 from




http://www.sec.gov/Archives/edgar/data/1121788/000114420409010751/v1419




10k.htm





We believe that we can reach this goal within
a 3 year period, by obtaining 30% of our goal
in the first year.



# of Units
Monthly
Month
In Thousands
Revenue
January
1
500,000.00
$

February
1
500,000.00
$

March
1
500,000.00
$

April
1
500,000.00
$

May
2
1,000,000.00
$

June
3
1,500,000.00
$

July
3
1,500,000.00
$

August
3
1,500,000.00
$

September
3
1,500,000.00
$

October
3
1,500,000.00
$

November
4
2,000,000.00
$

December
5
2,500,000.00
$

15,000,000.00
$

Total Yearly Sales Revenue
Sales Assumptions

Average PricePer Unit

$500.00
6

Note:

6) Burrell, G., & Kao,M.K.
(2009)

Garmin. Retrieved November 19, from Garmin web site:


https://buy.garmin.com/shop/shop.do?cID=134&pID=33921


Sales Forecast - 1st Year
$0.00
$500,000.00
$1,000,000.00
$1,500,000.00
$2,000,000.00
$2,500,000.00
$3,000,000.00
January
February
March
April
May
June
July
August
September
October
November
December
Months
Revenue
Month
Units in Thousands
Monthly Revenue





Start
-
up Expenses


Salaries for Sales and Marketing:



$


937
,
5
00.00



Salaries for executives and administrative personnel:

$




87
,
5
00.00

Legal Costs:







$




25
0.00

Travel and related costs:





$


1
,
8
75
.00

Cost of Goods Sold






$

1
,687
,
5
00.00

Rent








$


5
,
000.00

Furniture and Equipment





$


12
,
5
00.00


T
otal
Start
-
Up Expenses


3
Months
:



$

2,732,125
.00

Payroll



Salary per


# Employees


Total Salary





Employee



5




President



$120,000.00



1


$120,000.00

Fin. Officer



$100,000
.00



1


$100,000.00

Marketing Manager


$ 80,000.00



1


$ 80,000.00

Administrative


$ 50,000.00



1


$ 50,000.00











$350000.00



Losing touch with the outside
world


Promote
sharing of information learned from VF with
others



Older customers feel intimidated by the
technology


Include
easier to use programs. (aimed at seniors or less
tech
savvy)



Cultural
Limitations


VF features a
translation program so it can be used
in all
languages



Economic
Limitations


VF
has been priced
comparably
to all others in its
market.



Biz Move (2009) 10 deadly small business mistakes. Retrieved from

http://www.bizmove.com/MSBcd.shtml




Buckner, Stephen. (2004).
New York Has Longest Commute to Work in Nation,



American Community Survey Finds.
US Census Bureau News. Retrieved from
http://www.census.gov/Press
-
Release


Burrell, G., & Kao,M.K. (2009) Garmin. Retrieved November 19, from Garmin web site:



https://buy.garmin.com/shop/shop.do?cID=134&pID=33921


City Population.
Metropolitan Areas and Agglomerations (Census Population).

[Data file]. Retrieved from



http://www.citypopulation.de/Canada
-
MetroEst.html


Gaebler (2009). Small business financial controls. Retrieved from
http://www.gaebler.com/Operating
-
Your
-
Startup
-
Business.htm





Nations Online.
The most populated cities in the United States.

[Data file]. Retrieved from



http://www.nationsonline.org/oneworld/most_pop_cities_usa.htm


Mio explore more (2009). GPS explained. Retrieved from
http://eu.mio.com/en_gb/global
-
positioning
-
system_what
-
inside
-
sat
-
nav
-
device.htm


Small business (2009) Operations Management: Creating a Blueprint for Your Start
-
Up. Retrieved from
www.smallbusinessbc.ca



Ottawa’s commute one of the longest in the country. (2008, April 3).
The Ottawa Citizen.

Retrieved from


http://www.canada.com/ottawacitizen


U.S. Securities and Exchange Commissions. (2009, Feb. 25). Filings & Forms. Garmin LTD. 10K
-
Annual Report. Retrieved November




19, 2009 from
http://www.sec.gov/Archives/edgar/data/11
21788/000114420409010751/v141

191_10k.htm