TrashScan
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TrashScan was founded by Aaron Cannon, Andrea Morgan and Tara Walters. The company is dedicated to producing innovative home products using 100% recyclable plastic and manufacturing in the USA. Their current product is a trashcan with a built-in scanner, and future products may include voice command trashcans, trashcans with basketball hoops, and knife blocks that automatically sharpen knives. The company plans to partner with online grocery stores and retailers like Bed Bath & Beyond. Their strategy is to target homeowners making $30,000-$40,000 through marketing like spots on QVC and developing new products while maintaining a research team and benefits for customers and employees.
TrashScan
- 1. TrashScan Founded by: Aaron Cannon, Andrea Morgan and Tara Walters
- 2. Mission Statement We are a customer-service oriented company dedicated to producing products that facilitate everyday living. We produce innovative products targeted to aid homeowners with normal, routine tasks. We are committed to using 100 % recyclable plastic and achieving superior quality by manufacturing in the U.S.A. As our company grows, we plan on developing new trashcan designs and expanding into kitchen accessories.
- 3. Where did this idea come from??
- 4. Future Products Partnering with online grocery stores! Voice command trashcans. Trashcan with a built-in basketball rim. Kitchen knife block that automatically sharpens knives.
- 5. Product Description Stainless Steel Shell Rubber Stoppers Plastic Insert State-of-the-art Scanner
- 6. Customer Benefit Package Customer Website Support Center TRASHSCA N 90-Day Mobile App Condition Warranty
- 7. Customer Benefit Package Customer Website Support Center TRASHSCA N 90-Day Mobile App Condition Warranty
- 8. Break Even Timeline Year 1 Year 2 DECEMBER OF YEAR 2
- 9. Strategy Development -Market Niche: Homeowners with DISPOSABLE disposable income of $30,000 to INCOME $40,000. -Interest Customer: QVC Spot. -Order Winners: Money-back Guarantee. -Competitors: Newell Rubbermaid and SimpleHuman. Plan to overcome by our patented scanner! Plans to partner with BB&B.
- 10. Business Strategies Competitive Strategy: Innovation Core Competencies: Research and Development Team Maintaining and Supporting: Extensive Benefits and Perks 1% Royalty To Customers With Implemented Ideas.
- 11. Newell rubbermaids Linear Regression y = 118,600,000x + 5,205,200,000
- 12. Newell rubbermaids 5 Year Forecast Year Forecasted Sales ($) 6 $5,916,800,000 7 $6,035,400,000 8 $6,154,000,000 9 $6,272,600,000 10 $6,391,200,000
- 13. Trashscans 5 Year Forecast Year Sales Units 1 $2,800,000 12,177 2 $2,856,125 12,421 3 $2,912,250 12,665 .047% 4 $2,968,375 12,909 5 $3,024,500 13,153
- 14. Not a Seasonal Product
- 15. Fixed Costs
- 16. Year 5 Year 1 Year 2 Year 3 Year 4 Facilities Expense Rent $60,000 $61,800 $63,654 $65,564 $67,531 Utilities $25,000 $25,750 $26,523 $27,318 $28,138 Equipment $600,000 $600,000 $600,000 $600,000 $600,000 Administrative Expenses Salaries $700,000 $721,000 $742,630 $764,909 $787,856 Marketing Expenses Advertising $569,388 $545,688 $521,277 $496,133 $470,236 Training Expenses Robotics Training $5,000 $5,150 $5,305 $5,464 $5,628 Total Fixed Expenses $1,959,388 $1,959,388 $1,959,388 $1,959,388 $1,959,388
- 17. Variable Cost Stainless Steel $8.11 Rubber Stoppers $1.50 Scanner $23.40 Plastic Insert $3.00 Direct Labor $24.76 Packaging (Cardboard, plastic) $4 Shipping $5.23 Total $70 Selling Price $229.95
- 18. Break Even Analysis Est. Break-Even: =1,959,388/ Est. Left Year (229.95-70)= 12,250 units Units Over Fixed Cost of $1,959,388 Annually 1 12,177 73 Break Even Point within December 2 12,421 -97 of Year 2
- 19. Location Analysis Factor Weight Pittsburgh Boston Los Angeles Proximity to 40 4 2 1 Robotics Research Quality of Life 30 5 3 2 Proximity to Skilled 30 3 4 3 Labor Weighted Totals 100 400 290 190
- 21. PLASTIC ASSEMBL INSERTS Y CUTTING 90 SEC. 170 SEC. 90 SEC. 15 X 20 FT. 20 X 20 FT. 20 X 20 FT. TRASH ROBOTIC BAGS SHAPING S 40 SEC. 60 SEC. 45 SEC. 15 X 18 FT. 15 X 12 FT. 40 X 40 FT. Actual Output: 7 units/hr. WELDING 35 SEC. 12 X 12 FT. Effective Capacity: 21 Manufacturing units/hr. Layout
- 22. Office Layout
- 23. R&D Center
- 25. Just-In-Time Concepts Total Quality Management Utilizing quality at the source & implementing jidoka. Respect for Workforce Empowerment of all employees and creative environment. Total Productive Maintenance Scheduling preventative maintenance and gathering data for part replacement.
- 26. Questions?