Ways of Life

Pitched by: Jennifer Schfer & Teresa Weckwerth

Table of Contents

Executive Summary . 2

Service Description .. 3

Market and Customer Analysis 4-7

Sales and Marketing Analysis 7-8

Management ... 9 - 10

Financial Plan . 10 - 13

Summary Timeline . 14 - 15

Attachments & Appendices 15

1
Executive Summary

With our forever changing world, new fields and professions arise constantly and the already
existing ones can change from one day to another. For students deciding how they want to
live their lives in the future, this constant flux can make it incredibly difficult for them to
make an informed decision. That is why we decided to help confused students as much as we
can by providing easily accessible information about a broad range of professions, and give
them insight on how life in that profession is lived. Through this, we aim to make sure
students truly find a life they can succeed in and be passionate about, and hopefully ease their
path to getting there.

Ways of Life is a company who sets out to organize practical seminars with voluntary
lecturers from all kinds of occupations and companies. These seminars will as accurately as
possible show students what is done, needed and expected in a typical day of that job. We
want to create an experience similar to that made in internships, however shorter and less
stressful for the students.

The two of us have recent experience with how difficult and time consuming it can be to find
the right direction to go in the future, and understand how long sitting down seminars during
the weekends and breaks can be frustrating and not something to particularly look forward to.
That is why we decided to make the seminars we host ones that are active and interactive
between students and students and lecturers so that they are something that is both
informative and enjoyable. To make sure we keep them this way, we have an employed
psychologist who will be monitoring seminars and making notes for improvements and
adjustments. We believe that factor could be a major selling point and would make us good
competition to other organizations similar to ours.

Our main advertising platforms will be our website, where tickets will be sold as well and
contact with schools and colleges. With the help of our employed psychologist we will
further develop effective ways to advertise our service and constantly improve and update our
method to be as efficient as possible.

With an assumed average of 25 students per seminar and a cost of 28.99 per ticket we have
predicted to start making profit by the fourth month of running the business. With a gradual
growth of market and business and an increase from 10 seminars per month to 20+, the
calculated break even point will arise in the first quarter of the second year of business. With
a loan of 15,000 we will cover most major costs of setup and keep the office running
efficiently until business rises enough. By the end of our 5th year however, this loan is
predicted to be covered 16 times. With a hope of receiving a further loan from the bank
around our fourth year we want to exponentiate our business and hopefully increase these
numbers further.

2
Service Description

We as a company want to provide an easy way for those who are curious about different
occupations to experience a bit of what their life in that profession would be like. Therefore
we act as moderators for different practical seminars for the interested to participate in. These
practical seminars will be hosted by experts in their professional field and depending on line
of employment they are presenting, these seminars can range between one and two days. At
the end of each seminar further information, such as possible internships, places of study and
future employment options will be provided to students who are interested.

We as a company will only be managing these events. This means we will be providing the
venue, contacting possible seminar hosts, advertising seminars to schools and organizing
ticket sales. The seminar agenda, however will be in collaboration with the expert themselves
and the seminars will be held by them as well. We do however want to make the entire
process as easy as possible for the lecturer as it is likely they will only have limited time to
invest in this matter.

We insist upon these seminars to be mainly practical, stay relatively small in size (between 15
and 25 participants) and mimic the work day of the professional as closely as possible so as
to prevent a lecture type seminar. The students enjoyment and realistic experience in these
seminars is of great importance and so we believe, and have found from personal experience,
that this will be achieved with the mentioned set-up. Additionally, it provides a more
collaborative experience between students and lecturer and amongst students themselves. It is
also more likely that the participants will come out more informed about the nature of the
profession with this design. To monitor the reception of our services we will have a
psychologist on the team, who will observe and consult us on the design of the seminars.

This service provides a great opportunity for students to discover work life and truly find a
future they will be passionate about and enjoy, as well as bringing people together who share
interests in the same field. It can be a platform where new connections are formed between
students or even between students and lecturers. Therefore it will also be an opportunity for
companies to get attention from smart and engaged students early on, and for students to find
possible mentors that will help them reach the profession they want in their future.

The service we are providing is one that is not yet too frequent within Germany (our main
area of business) however, in countries like UK and the US this service is more common.
They however provide these seminars in a lecture format and often have very large class sizes
so we feel that our design will give us the upper hand in this matter.

3
Market and Customer Analysis

Although there are a great amount of workshops and seminars that are offered to give
students an opportunity to have an insight of different careers and services that can be
followed in the future, there doesnt seem to be any that focus as intensely as ours. The
classes that are offered are filled and therefore have a great number of people participating.
This means that students might feel too pressured and they will be scared to ask questions. By
analysing other markets, setting a clear target audience, being aware of the risks and
possibilities and having a set location, this company will be more successful than any others.

Target Market
- Age: 15-18
- All genders will be included
- Will be attending school (10th grade - 12th grade)
- Primarily english speaking schools/students
- Different topics will be available and since students get to sign up by themselves
(their own choice/not forced), people participating in these seminars, will have
common interests and common future goals, which will make them interact more
openly with each other.
- Focused seminars will ensure this
- High demand for workshops like these, meaning that a great amount will be offered
- They will spend about 28.99 for each seminar, which covers the costs for the chosen
location
- Seminars offering this service are more common in the UK, meaning that Germany is
in need

Competitive Analysis

- National Career Guidance shows (UK)

- London Job Show (UK)
- BMJ Career Fairs (UK)

Indirect competitors
- Pilot Career (UK)
- National Career Fairs (US)

How will they compete with us?

None of the available workshops and seminars will be able to compete with ours. Since ours
is located in Germany, english speaking students living in Germany will have easier access
(dont have to fly to a different country). Additionally the competitive seminars are too broad
or too focused. The Pilot Career seminars are too focused on pilots and dont offer a variety
of job areas. However, the other offered workshops are too big, making it difficult to focus on

4
separate questions and students. Other seminars that focus on more job areas are also
suffering disadvantages. They are all represented at one fair, which makes it difficult to seek
out the wanted career and the amount of people that attend these workshops are high.

Factor Us Strength Weak- London Job Pilot Career

ness Show

Products A variety of x A great number Only one career

careers, all of careers available to see
presented at available, all
different times, crowded at the
also allowing the same time
participants to be
interactive

Price 28.99 per x Free entry 17.50 per

workshop workshop

Quality High x High (although High

crowded)

Service Education/ x x Education/ Education/

Information Information Information

Reliability High x High High

Stability Moderately stable x Stable Stable

Reputation Not present x Good reputation, Trusted by many

well known job
show

Appearance Student friendly, x Through great Very tense

creating a relaxed amount of environment, not
and comfortable people, more everyone may
environment to ask stressed feel comfortable
any questions to ask questions

Sales Seminars held in x Open event. Open event.

Method private rooms. Taking place in a Taking place in
Sign up not forced huge inside area, seminar rooms,
not very with over 50
organized. Sign people
up not forced

Advertising Approaching x Advertised Advertising

schools as well as through through
companies. Letting pamphlets and pamphlets. Some
students know short school advisors

5
 about events announcements will recommend
through short in some schools this
speeches held at
their school

Our company will be balanced between strengths and weaknesses, when comparing it to two
of our biggest competitors. When comparing us to the London Job Show some weaknesses
arise, since they have a completly free entry. However this is balanced out, since the signed
up students will be able to ask more questions and get more direct feedback. Both
competitive companies also have a better reputation and stability, due to the fact that their
business has been running for longer than ours. However, this can quickly change with time,
since our business will eventually become more and more known, adding to its stability. Our
main strengths lie in the service itself, its quality and reliability and the appearance.
Additionally, a good and effective sales method and advertisement method will be used, in
order to inform and attract enough customers.

Niche
Our service is promised to be customer friendly and safe, giving the participants a great
opportunity to be interactive and also to learn more about the chosen career. Although the
chosen career will be very focused, there are different workshops that are being offered,
which can be chosen from. Within these seminars, questions are always welcome and we will
ensure that at the end of the presentation, good and suitable universities as well as companies
will be suggested for one's future. This gives the participant more of an opportunity to
research further in the chosen career.

Location

Seminar Locations
- Renting seminar rooms as needed (saving costs since they will only be rented when
there is demand for them)
- Building needs constant access to an internet connection and power, in addition to a
smart board and enough space for the participants to be interactive
- Central located, due to the fact that the seminars should be easily accessible and easy
to find. This will also give the participants a greater opportunity to find multiple ways
of arriving at their destination.
- Companies presenting during these seminars will also have easier access and
more technology
- A around 75 m2 - 100 m2 will be needed, depending on how many people sign up for
a workshop
- Enough parking space should be provided for students, parents and also company
representors.
- Estimated cost:

6
 - Seminar room rent: about 120 per seminar
- Business hours will be from about 8:00 a.m. - 6:30 p.m.
- Each seminar will be held over one weekend or during vacation times, giving
the students enough time to interact and ask questions.

Business Office
- Central - easy access to companies who might collaborate with us
- Around 100 m2 office for employees to convene
- Assures cohesive teamwork
- Estimated costs: Total of around 1520 per month
- Rent: 10 per m2
- Interior and office supplies: 220
- Maintenance, electricity, water, etc.: 433
- Business Services: 152

Sales and Marketing Analysis

Economics

Industry Size
The size of this industry depends on the location. Within Germany (where our company will
be set up), there are only limited organizations that provide this direct link from seminars to
students and companies. However in the UK and USA there are a number of big
organizations, which dont do smaller workshops and are big events only.

Potential Barriers When Entering the Market

Consumer acceptance and brand recognition

Overcoming barriers
Money will be focused on marketing and advertising so consumers will become aware of the
company

Strategy

Promotion
- Word of mouth
- Visits at various schools
- Visits at companies
- Giving presentations
- Spreading posters and flyers

7
 - Sponsorship
- Website

Why?
- Cheap
- Clear and structured insight on a specific career (different career for each seminar)
- Recommendations for top universities and companies
- Effective way of reaching out to students and companies

Frequency
- Promotional speeches
- At least once every two months at schools, career events, public events etc.
- Sponsorship
- Ensuring that companies receive promotion
- Supporting each other

Promotional Budget
- Before startup
- - 100
- Ongoing
- 70 (years 1 + 2)
- 100 (year 3)
- 100 (year 4)
- 150 (year 5+)

Pricing
- Pricing Methods:
- Psychological pricing:
- One time payment making it seem like less (no frequent payment if
student didnt sign up for other seminars)
- 28.99 instead of 29.00
- Economy Pricing
- Compared to competition:
- High pricing
- Importance of pricing to the customer:
- Not too important due to middle to higher class target group
- Higher price additionally ensures the customer good and supportive quality

8
Management

Legal Environment

- No licensing or permits are needed

- No approved information will be used in unagreed ways
- Health in the workspace and environmental regulations will be controlled by the
landlord that owns the building
- Property insurance
- Liability and professional liability insurance
- Business life insurance
- Business owners policy
- Trademarks on logo and name
- Copyright will be bought for the information where it is needed, in addition to the
companies that want copyrights
- Due to the fact that we will work with various companies, presenting different
carriers, this will vary from company to company
- There will be copyright on the information present during our seminars and
promotional presentations

Personnel

- 3 workers in total
- All workers should be skilled with technology
- 1 psychologist, that will ensure that the information that is presented to the students is
comprehensible and suitable for their age.
- Functioning teamwork
- Other employees should also be willing to help each other
- No contract workers (lecturers)
- A total of 6,000 per month for salaries

Suppliers

- Various companies will be in constant contact with our organization

- Companies as well as schools will support us
- A contracts will be set
- People who will manage the company from day-to-day:
- CEO/CMO/CFO/COO
- These people should have the following knowledge and attributes:
- Event management

9
 -Children's wants and needs, in addition to minimal psychological background
of how presenting and interacting is the most effective
- Organizational abilities
- Adequate communication skills
- Considerate and open-minded to various opinions
- Management hierarchy:
- CEO/CFO/CMO/COO (be split between 2 people)
- Psychologist
- Presenters
Professional and Advisory Support
- Board of directors
- 2 people (CEO, COO, CFO, CMO)
- Consultant
- 1 person internal
- Mentors and key advisors
- Board of directors

Financial Plan

Startup Expenses

- Business registration: 300

- Domain name registration: 16 per year
- Insurance premiums: 200
- Lease deposit and advance rent: 2600
- Fitout: 2040
- Utility bonds and connection: 433 per month
- Stationery and office supplies: 500
- Telecommunications: 200
- Advertising and promotion: 100

Total cost: 6,889

- Equity investment: 15,000

Surplus Funds: 8,111

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10
Profit and Loss Forecast (Year 1)

Sales
Sales (invoiced)
January - April: 7,247.50
May - August: 10,871.25
September - December: 14,495
Costs of goods sold
January - April: 1,800
May - August: 2,200
September - December 2,600
Gross Profit:
January - April: 5,447.50
May - August: 8,671.25
September - December: 11,895

Total Gross Profit: 104,055

Expenses
- Advertising: 70 per month
- Depreciation: 170 per month (furniture)
- Insurance: 17 per month
- Rent and office maintenance (including stationary): 1,520 per month
- Superannuation: 100 per month
- Wages: 6000 per month
- Set up costs (January only): 4,849

Total: 99,373

Total Net Profit: 4,682

Total Gross Profit Margin: 80%
Total Net Profit Margin: 4%
Break Even Point of P&L Forecast: Month 5

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Cash Flow

11
Outgoing

Fixed Costs
- Administration: 0
- Marketing: 0
- Operations: 2,092

Variable Costs (consistent throughout year 1)

Administration: 6,000 (per month)
Marketing: 70 (per month)
Operations:
January - April: 1800
May - August: 2,200
September - December: 2,600

The increasing variable costs in the operations sector arise from the increase in seminar room
usage and therefore an increase in the rent paid for them.
Total Outgoing: 124,344

Incoming

From accounts receivable:

January - April: 7,247,50 (per month)
May - August: 10,871.25 (per month)
September - December: 14,495 (per month)

Total Incoming: 130,455

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Balance Sheet (After 1 Year)

Assets
Current Assets
- Accounts receivable: 2,642

Fixed Assets
- Furniture: 2,040

Total: 4,682

Liabilities

12
(Year one there will be no liabilities present)

Total: 0

Owners Equity
- Retained Earnings: 0
- Current year earnings: 4,682

Total: 4,682

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Break - Even Analysis

- Average selling price per unit: 29

- Average cost of each unit: 7
- Gross Profit Margin: 75%
- Fixed costs: 99,373
- Dollar sales to break even: 132,209
- Number of unit sales to break even: 4,560 (will be reached in the third month of
year 2)

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Risks and Rewards

- Ticket prices too high loss of customers

- Ticket prices too low not enough net profit

----------------------------------------------------------------------------------------------------------------

Return on Investment

Investment: 15,000

Cash Return on investment: 0.176

Annualised profit: 48,216

Enterprise value: 241,080
Return on investment: 16

13
Summary Timeline

Year 1

(January)
Needed Investment: 15,000

Business office set up

Website set up
Total Setup Cost: 6,889
Surplus Funds: 8,111

(January - April)
10 seminars per month
Total of 40 seminars organized
A total of 1000 tickets sold, 28,99 each
Total Net Profit (with expenses subtracted):

(May - August)
15 seminars per month
Total of 60 seminars organized
A total of 1500 tickets sold
Total Net Profit (with expenses subtracted):

*Break even point for profit and loss analysis*

(September - December)
20 seminars per month
Total of 80 seminars organized
A total of 2000 tickets sold
Total Net Profit (with expenses subtracted) :

End of Year:
- Total Net Profit: 4,682
- Total Net Profit Margin: 4%
- Cash return on investment: 0.176

Years 2 - 5

Goals by the end of year 5:

- Increased number of seminars - up to 40 per month

14
 - Employment of an accountant
- Procure a bank loan to expand
- Increase worker wages from 2000 per person per month to 3000 per person per
month
- Increase spending on advertising to 150 per month

Finances by the end of year 5:

- Enterprise value, assuming no further growth after year 1: 241,080

- Return on investment, assuming no further growth after year 1: 16 times
- Break even point: First month of year 2

Attachments & Appendices

BMJ Careers Fair. 2017, https://careersfair.bmj.com. Accessed 3 Apr. 2017.

London Job Show. www.londonjobshow.co.uk/seminarsworkshops/. Accessed 3 Apr. 2017.

National Career Fairs. 2000-2016, www.nationalcareerfairs.com. Accessed 3 Apr. 2017.

National Career Guidance Shows. 2017, www.nationalcareerguidanceshow.com. Accessed 3

Apr. 2017.

Pilot Career News. 2011-2017, www.pilotcareernews.com/live/london/. Accessed 3 Apr.

2017.

15