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Heated Steering Wheel Cover. Mark Allers, President Keith McDermott, VP Technology Craig Kronenthal, VP Human Resources Divesh Patel, VP Finance Olivier Demange, VP Marketing Donald Yeh, VP International Marketing. Board of Advisors.

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heated steering wheel cover

Heated Steering Wheel Cover

Mark Allers, President

Keith McDermott, VP Technology

Craig Kronenthal, VP Human Resources

Divesh Patel, VP Finance

Olivier Demange, VP Marketing

Donald Yeh, VP International Marketing

board of advisors
Board of Advisors
  • David Friedmon: Director, Television Bureau of Advertising
  • Mark Hallyburton: Director of Technology and Marketing, SMI Sales
  • Larry Thompson: Thompson Development
  • Michael Kay: Principal, Armstrong Group
  • James Kronenthal: CEO Magna-Kron Corporation
technology
Technology
  • 12 volt car adaptor going through a disjoint connection.
  • Cover is heated by fiber elements found in electric blankets.
  • Fiber is covered by synthetic leather.
patents
Patents
  • Patent numbers 4,549,069 and 5,294,775 deal with heated steering wheel covers.
  • Neither will require us to purchase the rights (King & Spalding, LLP).
  • The disjoint connection and the fiber heating system makes our idea unique.
manufacturer info
Manufacturer Info.
  • Imetec (England/Germany)
    • $17/unit, 2 months for initial batch,

turnaround 2-3 weeks/10,000 units

  • Yung Tien Industrial Co., Ltd. (Taiwan)
    • $15/unit, 2 months for initial batch,

turnaround 2-4 weeks/10,000 units

  • Sports Leisure International (Maine, US)
    • $16/unit, 2 months for initial batch,

turnaround 3-4 weeks/10,000 units

finance
FINANCE
  • $300,000 initial seed investment
  • Operate as Corporation
  • 25% Equity to President

15% Equity to other 5 Partners

  • Majority expenses from Marketing ($8000/market)
  • Sell Product for $30
  • Expect profit within 1st year
  • Projected to breakeven within 4 months
finance year 1
FINANCEYear 1
  • Fixed Costs:

Marketing: $40,000

Salaries: $20,000

Patent: $10,000

Accounting: $5,000

Rent: $0

Total: $75,000

  • Variable Cost:

Manufacturing: $15/unit

5% accounted for unpaid/damaged units

  • Breakeven Analysis:

30(x) = 15(x) + 75,000 + 0.05(30)(x)

x = 5556 units

4 p s of marketing
4 ‘P’s of Marketing
  • Product  Need: The next step in cold morning comfort
  • Price: $ 49.95
  • Promotion
  • Place: channel of distribution
slide9

TARGET MARKETS

1st year target

first year market
FIRST YEAR MARKET
  • Response rate to TV ads for products around $50 on local cable channels:
  • “prime-time”: 10-30%

 otherwise: 1-5%

why we ll succeed
Why We’ll Succeed
  • Thompson Development, Seed Capital
  • 6-8 Week Delivery Standard
  • SMI Sales, Partnership, Warehousing and Distribution
  • Outsource Manufacturing
  • SMI Sales, Internet Search Optimization