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The PARTY POCKET Party Inc.

Katie Camp, Kate Godiska, and Justin Idzenga

Intro to Business

Spring 2011

Table of Contents
Introduction-1 Business Description-3 Human Resource Plan-4-5 Organizational Plan-6 Marketing Plan-7 Financial Plan-8 Appendix A. B. C. D. E. F. G. Code Of Ethics-9 Organizational Chart-10 Promotional Strategies -11 Financial Plan-12 Office Technology Plan-13 Reflection Memos-14-16 Reference Page-17

Introduction
Party Inc. presents The Party Pocket Party Inc. is located in Bloomsburg Pennsylvania which embraces the thriving campus of Bloomsburg University. Bloomsburg is home to over 9000 college student. Party Inc. can provide a great product, The Party Pocket, to enthusiastic college students attending BU. Our mission statement is that we, Party Inc. is a success driven partnership that strives to give the younger generation a unique commodity designed by individuals of the same generation. Since Party Inc. has only a few employees, a partnership is a best fit. Being a partnership allows more flexibility and consents us to take full responsibility for our products we create. We are THAT Confident in ourselves!

Business Description
The Party pocket utilizes a Snap-On feature that fastens on any article of clothing. Our product is helpful when a party goer does not have pockets on their outfit. This pocket allows the individual to be able to carry important items such as cellphones, money, and camera on themselves without having to worry about holding them and potentially losing their items. The Party Pocket has two designs, one designed for men and one designed for women. This is a consumer based product. Many college students like to express themselves with their clothing. Many articles of clothing they wear do not contain pockets. College students are also very social and partake in many social gatherings. Cellphones and money are also important to college students so many fear during high energy social gatherings that they will lose their valuables if they wear articles of clothing without pockets. Our product addresses that issue directly and solves the problem. Our product is one of a kind and can be virtually used by anyone. The Party pocket uses a mix between Polyester and cotton for the cloth and snap on buttons that are sewn into the fabric. Based on the current cost of Polyester, Cotton, and the Snap-On buttons, The Party Pocket will cost $9.99. Shipping the product will only cost $4.99 within the continental United States. The Party Pocket is U.S.A made, with our own employees, whom are mostly reside in the Bloomsburg area, making the party pocket by hand in order to ensure the best craftsmanship.

Party Inc. is locally owned company whom withhold the knowledge to use the internet to sell our product. Party Inc. intends to sell most of our inventory on-line through the company website. Shipping will be done through U.S priority mail. There will also be a few local retail outlets that will contain the Party Pocket. Although Party Inc. has the Party Pocket in local outlets, the product can extend its market potential through the internet. The Party Pockets hopes to be shipped throughout the country and the world. With the Party Pocket being a small, durable product, shipping will not be costly and doesnt need special packaging. Based on how many on-line orders Party Inc. receives is how many we produce. The process of producing one party pocket from start to finish takes only 1 to 2 days so they can be produces very quickly. If a customer receives a Party pocket that was not correctly made or was poorly made, they can return the product and we will give them a new one at no cost. Party Inc. believes that we will have no direct competitors since this is a one-of-a kind product. We plan on seeing knock-off products that will essentially be a cheaper version of The Party Pocket, but at a lower quality.

Human Resources
When positions open up at Party Incorporated, we advertise on job websites such as Monster.com and Careerbuilder.com. When Party Inc. feels we have the candidates for the job based on experience and other credentials, we begin the interviewing process. After the interviewing process we select our candidate and immediately start them on a 2 week on-the job-training. They will shadow another employee who is doing a similar job in order to have them quickly learn the day to day routine. Employees will be paid from 10 to 20 dollars an hour without benefits. Every six months they are eligible for a pay raise. Benefits will be made available to employees that show dedication and are certain they will stay with Party Inc. for the long term. Benefits include a 401(k) plan, dental, and medical. This also corresponds with a performance appraisal. The performance appraisal, which is a numerical scale, will examine such things as production rate, sales, time spent working, recent successes and failure, and personal strengths and weaknesses. If employees have a positive Exceptional performance appraisal, they will be considered for the benefits and raise mentioned earlier. If the employees performance appraisal unsatisfactory, then action will be taken to investigate that cause of the poor performance and consider possible termination.

Organizational Plan
The Party Pocket business is relatively small due to the fact that it is a partnership. Each partner in the business is assigned a major aspect of the business to be in charge of. We divided the tasks under marketing, accounting, and production. We each only have a few select people working under each of us. The party pockets are a fairly simple product and do not take a large amount of people to produce them.

Marketing Plan
Our logo depicts a man and women standing together while facing away. The angle focuses the eyes on the back pockets of the male and female. When people look at the logo, they see the pockets. This will enable the consumer to recognize the product, The Party Pocket. Our slogan for The Party Pocket is Dont Party Without it! The short, but memorable slogan hopes to stick in peoples minds before they go and enjoy their evening. The primary target market is college age students 18-24, but Party Inc. believes we can cater to anyone over the age of 18 male or female. Internet outlets such as Facebook and MySpace will provide advertisement where our primary market will notice them. Advertisement will also appear in malls and coffee shops where the primary market frequently visits. The Party Pocket comes in two product designs; the womens design will use bright pinks and yellows and the mens design will use navy blue. The pocket will be primarily sold on the company website online, and at few local stores in Bloomsburg.

Code of Ethics
We at Party Inc. believe that protecting the environment is important, therefore, we ensure that all waste material produced while manufacturing the Party Pocket will go towards another source. We also believe in hiring within the region which generates jobs. All of our employees are U.S citizens and live in the Bloomsburg area. We ensure equal rights to all of our employees and sustain a satisfactory working environment and benefits where applicable.

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Party Pocket
Sales/Marketing Accounting Production

Sales representatives

Accountants

Factory

Webmaster

Delivery

Factory workers

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Party Productions Balance Sheet April 20, 2011

Assets Cash Market Securities Accounts Receivable Less Allowance for doubtful accounts Notes Receivable Merchandise Inventory Prepaid Expenses Office Equipment Less accumulated depreciation Furniture Less accumulated depreciation Liabilities Accounts Payable Monthly Debt Installment Salaries Payable Taxes Payable Mortgage Balance Total Liabilities Owners Equity Common Stock Retained Earnings Total Owners Equity Total Assets $319,000 150,000 59,000 $209,000

$59,000 10,000 40,000 (2,000) 32,000 41,000 2,000 110,000 (20,000) 62,000 (15,000)

$35,000 25,675 4,000 5,325 40,000 $110,000

Total Liabilities + Stockholders Equity $319,000

Ratios

Working Capital = Current Assets - Current Liabilities = 187,000 - 39,000 = 148,000 Current Ratio = Current Assets/ Current Liabilities = 187,000/39,000 = 4.79 Debt to Equity Ratio = Total Liabilities/ Owners Equity = 110,000/209,000 = .53

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OFFICE TECHNOLOGY PLAN Product Dell Laptop Shredders Landline phones Smart Board Cell Phones CAD Program Security Camera System Quantity Price each $ 4 500.00 $ 4 50.00 $ 10 100.00 $ 1 6,000.00 $ 4 250.00 $ 4 1,000.00 $ 1 800.00 Vendor Dell Aurora AT&T Nextag Rationale Office use Office use Office use Product Creation Total $ 2,000.00 $ 200.00 $ 1,000.00 $ 6,000.00 $ 1,000.00 $ 4,000.00 $ 800.00 $ 15,000.00

Verizon Company use SketchUP Pro Product 8 Creation PRO SERIES Safety

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To: From: Date: Subject:

Mrs. Kotch Katie Camp 20 April 2011 Reflection of the Product Prototype Assignment

Lets reflect on this semester with the assignment of the product prototype; with the process for the project completion, team members responsibilities and contributions, assignment pros/cons and overall thoughts of the process and assignment. Each week the group gathered ideas for the section of the project we want over in class. Then the group gathered outside of class to type up and finished each section with the ideas collected within the classroom. Everyone within the group did their fair share when it came to doing the work. We kept each other focused and gave each other ideas to build off of. Pros and Cons: The class was not just taught but the information gathered was put to use. If one person did not understand something, another person in the group could help them learn. Group work is hard because you need a specific time when everyone met to do work outside of class.

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Overall, I believe this process and assignment gave a better understanding of all the aspects of a business.

To: From: Date: Subject:

Mrs. Kotch Kate Godiska 20 April 2011 Reflection of the Product Prototype Assignment

This project was a good hands on way to learn about how to plan a business. It really opened my eyes to how much work really goes into a business plan and how many parts there are to it. It is much more in depth then I originally thought it was going to be. I was in charge of the advertisement, Organizational Chart, and office Technology plan. Justin was in charge of the Cover page, Intro, Business Description, Human Resources Plan, and Organizational Plan. Katie was in charge of the Financial Planning. Overall, my group worked well together because we had good communication skills. Whether we were emailing, texting, or talking face to face we communicated well and efficiently. Communication is an important factor in the business world.

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To: From: Date: Subject:

Mrs. Kotch Justin Idzenga 20 April 2011 Reflection of the Product Prototype Assignment

The idea of The Party Pocket derived from one team member in our group. With the initial idea, the rest of the team elaborated and improved the idea to the product created today. Although I felt during the first few weeks the business plan should have been started. We, as a group, should have begun working on it sooner. We didnt really start working on the project until about 2 weeks until it was due. When we met up to work on it, we each took responsibility of certain parts of the business plan. I was responsible for Cover page, Intro, Business Description, Human Resources Plan, and Organizational Plan. I felt that I possessed sufficient writing skills required to complete the large amount of writing that was required. We had a group of three which made it easier to get together and share ideas. Everyone contributed which made the overall process easier to manage. I should have worked on the business plan more in class. When working on it, I had questions about the business plan that I could have addressed to the instructor if I was in class.

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References SBA Small Business Administration http://www.sba.gov/category/navigationstructure/starting-managing-business/startingbusiness