BUSINESS PLAN UD Coolbacks

Cooler Backpacks President: Matt Packard Accountant: Reese Eckenrode Marketing and Sales: Ian Palin Logistics: Casey Lebrun Crotty Center for Entrepreneurial Leadership University of Dayton 300 College Park Dayton, OH 45409 Tel: 207-329-8408 udcoolbacks@gmail.com Date Prepared: November 2013
1.0 Table of Contents:.........................................................................................................................2 2.0 Executive Summary......4 1

2.1 Mission Statement....4 2.2 Venture Description.....4 2.3 Venture Objectives and goals...5 2.4 Venture Market....6 2.5 Venture Operations..8 2.6 Venture Organization...9 2.7 Venture Financing9 3.0 Management and Organization Plan....10 3.1 Management Team........10 3.2 Compensation and ownership.....10 3.3 Board of directors/Advisory Council..............10 3.4 Infrastructure......11 3.5 Contracts and franchise agreements...11 3.6 Insurance12 3.7 Employee stock option plan and other incentives....12 3.8 Organization charts.....12 4.0 Product/Service Plan.......13 4.1 Purpose of the product.......13 4.2 Unique features..13 4.3 Stage of development.....13 4.4 Future research and development .........14 4.5 Trademarks, patents, copyrights, licenses, royalties....14 4.6 Product/Service limitations.........14 4.7 Product/Service liability......15 4.8 Production......15 4.9 Suppliers.....15 5.0 Marketing Plan...........15 5.1 Industry profile.......15 5.2 Growth Potential........16 5.3 Industry Location...........16 5.4 Industry Trends......16 5.5 Seasonality Factors............17 5.6 Profit Characteristics.........17 5.7 Distribution Channels.........17 5.8 Basis of Competition......18 5.9 Competitive Profile........18 5.10 Customer Profile..........19 5.11 Target Market Profile...20 5.12 Pricing Profile...........20 5.13 Gross Margin on Product..20 2

5.14 Break-even Analysis.21 5.15 Distribution Channels........21 5.16 Sales Representatives...22 5.17 Direct-sales Force.22 5.18 Advertising and Promotion....23 5.19 Package and Labeling...23 5.20 Service and Warranties ....23 5.21 Future Markets.........23 6.0 Financial Plan......24 6.1 Projected Income Statement..........24 6.2 Projected Cash Flow Statement......25 6.3 Projected Costs...25 6.4 Sales Projections.....25 7.0 Operating and Control Systems Plan......26 7.1 Receiving orders.....26 7.2 Billing customers.....26 7.3 Paying suppliers..26 7.4 Reporting to management.......27 7.5 Staff development...27 7.6 Inventory control.....27 7.7 Handling warranties and returns.........28 7.8 Monitoring the company budgets....28 7.9 Security systems.....28 8.0 Planning Chart.....29 8.1 Timeline plan......29 9.0 Growth Plan....35 9.1 New offering to market......35 9.2 Capital requirements...........35 9.3 Personnel requirements...35 9.4 Exit strategy....36 10.0 Appendix36 10.1 Invoice and Order Quote......36 10.2 Works Cited..37 10.3 Matt Packards resume....38 10.4 Casey LeBruns resume...39 10.5 Ian Palins resume....40 10.6 Reese Eckenrodes resume......41 10.7 Advertisement Example....42 10.8 Copy of Invoice..........43 3

2.0 Executive Summary 2.1 Mission Statement

As aspiring entrepreneurs, UD Coolbacks will do our best to plan, organize, and create a complete, efficient micro-company using sound business tactics we have learned in our time in the University of Dayton business school thus far. We will strive not only to meet our marginal goals throughout the life of the business, but to undertake any and all issues on the way to ensuring a profit return on our investments. UD Coolbacks is an honest company, and will treat all customers fairly and equally on the way to our goals. Lastly, we hope to learn from our successes and failures throughout the venture and to gain knowledge on how to handle future business opportunities. 2.2 Venture History and Description Our company has a short and brief history on campus. However, we did have the advantage of receiving our product very early on in the process. We made our first sale on September 28, during parents weekend. This was a key selling point for our company, and showed us just how important it was to get the product in early. UD Coolbacks has been around since the middle of September, and is set to disintegrate in April, 2014. UD Coolbacks is a micro-company created and limited to the University of Dayton campus. However, we are more than just a project. We are four individuals with unique responsibilities that comprise a team with a common goal of selling our product to any and all customers who are interested. We are not limited to selling only to students, and have a goal of
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selling to diverse customer segments. An important aspect of our company is the name. It is a combination of our school, and the description of our product. The words cooler and backpack are mixed together to create a name that pops, and gains customer intrigue. This fact, along with the Flyers logo attached to our product combine to make the product sell itself. Our team is constantly thinking of more ways to sell, and different markets to hit in order to achieve the largest profit possible. Our product is unanimously relevant, and can be used by and gender or age. 2.3 Venture Objectives and Goals

Over the duration of our business venture, we have set weekly goals to keep the team focused and productive. Our weekly tasks include goals for sales, completion of the business plan, and further marketing ideas. These weekly tasks are the basis of our company and help us deal with ongoing issues and opportunities to further the success of UD Coolbacks. Our goals will change as the months go on to coincide with our sales forecast and strategies pertaining to the time of year. Long term goals include keys to success in a business venture in general. These include: 1. Attention to Detail. Each and every task is to be fully completed and every aspect is to be

thoroughly examined before completion 2. Communication is paramount. Weekly meetings are the time to communicate any issues,

concerns, or ideas! Constant communication is open via group text and e-mail. 3. Persistence. When selling, and when completing tasks, persistence is key in order to get a

sale or to create the best end result.

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4.

There is always work to be done. Group members should never be without a task during

the venture. There is always something to be done, and we need to be proactive in completing those tasks. 5. All actions in line with the company must ultimately be in the best interests of UD

Coolbacks If and when all of these goals are achieved, UD Coolbacks will be unified for the entirety of the venture. We will also be very successful, selling out our entire inventory and gaining a profit that is near the top of the class. Learning from failures and issues, and ultimately gaining success will provide our group with the most business knowledge possible, and set us up for our future. 2.4 Venture Market Via observation and extensive thought, the Coolback marketing team concluded that they would market at first to parents and alumni, and then later to students and faculty. With this said, we have chosen the demographics of our venture market. Alumni and parents belong together in our marketing outlook because both alumni and parents attend the University of Dayton tailgates. Alumni may attend more on a regular basis, however, big selling opportunities, like family weekend for example, attract large crowds of parents as well. Our Coolback team believes strongly that parents are an ideal customer of our product, largely because of the higher cost it carries amongst other products. Most obviously, parents contain significantly more money than their children and furthermore, much more money they will be inclined to spend. We believe at these family outings students and siblings will find
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an interest that parents will fulfill upon impulse. These transactions are a crucial goal of our marketing strategy. Alumni, like parents, possess a higher income that will also accept a yes to our product. Unlike parents, however, we feel that alumni will purchase our product because of the UD logo, rather than the product itself. With this said, we believe that we should market our product in a way that shows benefit to the University. For instance, we could go into a greater depth about the micro businesses we are running and the charities that the proceeds are going towards. Retaining now to the University of Dayton students that most certainly fit into our marketing vision, we plan to target the freshman on campus after headway has been achieved in our teams sales. Freshman surely will be inclined to buy our product because of their new energy and passion of the school that they now attend. Freshman, however, will not be our only student target. With 7,843 undergraduates and 3,202 graduate students, we cannot diminish ourselves from the masses. With a product so favorable to tailgates, we will aim to target students of all ages at University sporting events. Furthermore, because our product is more attached to warm weather, we will aim to sell our product as soon as possible and after the holidays. Unlike many other groups, we believe that selling to the freshman is the easiest way to go about getting sales, and therefore, we should target them later, rather than sooner, when our sales are slowing down. 2.5 Venture Operations Due to our target market existing heavily amongst UD sports fans, our sales schedule depends largely upon the schedules of sports teams here at the University of Dayton. Because
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each member of our team is a highly dedicated entrepreneurship student, we all are constantly busy with schoolwork and outside activities. Because of this issue, sales is so important within our Operations. One of our members is actually on the UD football team, and therefore, cannot possibly attend any tailgates related to football. In order to solve this, our team has done its best and will continue to do its best to make up for any missed selling opportunities either during the week or at separate times other than what our team has planned. In order to remain organized and in tune with our actual sales, our team has a Google Docs page that team members can update whenever they make a sale. On the page, members can record how many were sold and on what date they were sold, and all members can view each others submissions. This page is a huge help to the accountant as he records the teams monthly income and cash flow on a separate excel worksheet. As well as documented evidence, our team president hosts meetings every Monday night to clarify the submissions and to reflect our standing upon the sales projections we envisioned earlier on. These meetings also are used as a time for team members to discuss any difficulties or successes they have found while working with our target markets. Within our operating plan are illustrations of inventory transportation (from vendor to the University), money management, development, from start to exit, documentation, planning, and any assistance that was needed along the way.

2.6 Venture Organization UD Coolbacks is operated under the guidance and education of the Crotty Center for Entrepreneurial Leadership and the University of Dayton School of Business Administration. UD
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Coolbacks is led by the President, Matthew Packard. Mr. Packard ensures the timely completion of class assignments and business goals, group cohesiveness, and overall business success. Ian Palin serves as the Vice President of Marketing by identifying target markets and developing marketing plans. Casey LeBrun, the VP of logistics, heads all things related to inventory and dealing with the supplier. Reese Eckenrode handles financial activity and records sales. As the VP of Accounting, he ensures the books are kept. Prof. Robert Chelle is our main business advisor who serves as counselor for major business decisions. 2.7 Venture Financing In 1998, Bill Crotty gifted the University of Dayton $1 million to establish the Crotty Center for Entrepreneurial Leadership. In September 2013, UD Coolbacks was formed with the educational direction of the Crotty Center and was approved for a $5,000 no interest loan from the Center. This start-up loan was received by UD Coolbacks and deposited in a Day Air Credit Union checking account to be used for inventory and operations of our micro-company. UD Coolbacks VP of Accounting and other members of the Coolbacks team will analyze financial statements to determine the overall financial success of the company. Income statements, cash flow statements, inventory, and budget cohesion will all be analyzed.

3.0 Management and Organization Plan 3.1 Management Team In our company, we have four members, all contributing to the operation of UD
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Coolbacks. First is Matthew Packard, the president. His job is to oversee operations of the company, keep up our reputation, and keep team morale high. Also, he keeps in contact and maintains a relationship with our supplier. Next is Reese Eckenrode, the Accountant. He keeps detailed, accurate records of the income, expenses, and expected profits incurred by our company. Next is Ian Palin, in charge of Marketing/Sales. He takes care of setting up times and venues to sell, and also constantly promoting our product. Last is Casey LeBrun, the logistics manager. He is in possession of our inventory, and stays on top of product count, as well as online order forms. Each member of the team has a resume attached to the appendix. 3.2 Compensation and Ownership Our micro-company is operated entirely under the name UD Coolbacks. We are a partnership, consisting of four people who share a common interest of gaining valuable business experience as well as earning a profit. Each member hopes to learn all aspects of running a business, with a specialty in their respective fields. The team with the most profits receives a prize, and all profits are given to charity, providing a sense of pride to the winning team as well. 3.3 Board of Directors/Advisory Council As a micro-company constructed on the campus of the University of Dayton, we have no acting board of directors. However, members of the UD community could be helpful as an advisory council. Professor Timothy Wood could help in case of a legal question. He has been a respected lawyer for years. Professor Robert Chelle, an entrepreneur himself, has extensive knowledge when it comes to business activities. He owned and operated a company for twentyseven years. Geeta Shankar, a long-tenured Accountant, could help us straighten out our books
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and financial statements if need be. Lastly, we have a JEM (Junior Entrepreneurship Mentor) that has been through the same process we are currently going through, who could help us with any questions. -Timothy Wood twood1@udayton.edu Timothy wood is a

MGT 201 professor at the University of Dayton, as well as a local lawyer/judge. -Robert Chelle rchelle1@udayton.edu Robert Chelle is an

ENT professor at UD, and retired after 27 years of business ownership. -Geeta Shankar gshankar1@udayton.edu Geeta Shankar is an ACC 207 professor at UD. -Kelly Muskat muskatk2@udayton.edu Kelly Muskat is a

JEM for the ENT program. 3.4 Infrastructure Key advisors include Professors Wood, Shankar, and Chelle. Their compensation is helping student become successful, which is fulfilling for teachers. Also, our parents, with extensive business experience, have helped throughout the process. However, most of the business analysis and decision making falls on the four members of the team. We rely on constructive criticism, substantial effort, and attendance at all team meetings.

3.5 Contracts and Franchise Agreements We are a unique company in the Dayton area, and we do not present a legitimate threat to any other companies. We have no non-compete statute, no franchisees, and no limitations.
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However, we are under two contracts. The first is with the universitys athletic department. We are expected to uphold and maintain the integrity of any UD logos we use in our marketing or on our products. Our product was cleared before the order process. Second, we consulted with Camille Espinola of Branders.com, and engaged in a verbal agreement to purchase 100 logoed cooler backpacks at a price of $9.93 per.

3.6 Insurance Our micro-company is bound and owned by the University of Dayton. Any legal issues, including insurance, personal liability, including any situation involving compensation for a specified loss or damage that may arise over the duration of our venture, will be covered under the University of Daytons indemnity policy. 3.7 Employee Stock Option Plan and Other Incentives The main incentive for our micro-company is to have the most profit in comparison to other micro-companies in the ENT program. This would allow us to give the most money to charity, and also reimburse the full loan we received upon starting the venture. Also, UD Coolbacks has set up an incentive plan to ensure we sell out our entire inventory. The highest seller at the close of the company gets an all-expenses paid dinner at the Brown Street restaurant of his choice. 3.8 Organizational Chart

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4.0 Product/Service Plan 4.1 Purpose of the Product The purpose of our product is to provide an insulated bag that keeps food or beverage items cold on the go. The customer is benefited in multiple ways. Firstly, as stated before, the bag keeps items colder than a non-insulated backpack and it is also waterproof. Secondly the bag provides an alternative to using a more expensive backpack for the storage of cold items. Price is an advantage because it is less expensive than all competitors. It addresses the student need of a bag that is designed to keep items cold when moving from place to place, something that a regular backpack does not provide. Our bag is not a necessary item to most consumers. It is a luxury for the consumer to have a colder beverage on the go than the average bag provides. 4.2 Unique Features The insulation and waterproof aspects of our bag are what makes it unique. The risk of a
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beverage sweating through the heat-sealed PEVA lined cooler is completely wiped out. It can hold up to 18 cans so it is fairly large. Our bag is emblazoned with the red Dayton Flyers logo with blue accents on various parts of the black backpack, making it more valuable to those with connections to UD. There are 3 exterior pockets, along with an adjustable elastic cord that can hold larger items. The backpack straps are padded and adjustable to fit, and there is also a carrying handle at the top of the pack. 4.3 Stage of Development After multiple phone conversations with our manufacturer, Branders.com, we were able to get an image of our finalized product design. Once all the group members approved it was what we wanted, we sent in the final image to Al Tomlinson, the Assistant Director of Corporate Relations at UD. Mr. Tomlinson approved our product design and we contacted our manufacturer and were able to place an initial order of 100 backpacks with an agreed upon shipping date. The backpacks arrived on time and as planned. After deciding on a price of 20$ we began the selling stage that we are currently still in. 4.4 Future Research and Development Our future R&D will be limited to ordering more of the same product if the demand proves to be high. Because we initially ordered a relatively small amount and sales have been high, it is not unlikely for us to make another order. It is also possible for our next order to be a different color or different design, but with the same general product. 4.5 Trademarks, Patents, Copyrights, Licenses, Royalties The Dayton Flyers logo that we used is a trademark of the University of Dayton. We got
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permission from the University to use their logo. The final design was approved by one of the Universitys marketing representatives. Our Dayton Flyers logo contains a registered logo in the top right corner to show it is official. 4.6 Product Limitations The biggest limitation of our product is that the zipper is not waterproof. If the bag was filled with water and turned upside down, the water would seep out through the zipper. This is not a major concern of ours because the likelihood of that happening is small. Another limitation is that our product is more of a hot weather item. This is also not a major concern because its functionality is not affected and usage of it during cold months will most likely only slightly decrease.

4.7 Product Liability Product liability is very minimal. There is no insurance cost. A potential liability would be if the zipper breaks or the material tears. We are not liable for the product once a sale occurs. Also, the 100 coolbacks we received were guaranteed to be functional by the supplier. If we had a problem with that, they would have been replaced at no charge. 4.8 Production All of our backpacks are produced and shipped to us by Branders.com. We decided on our vendor after looking around at different companies able to produce the type of product we wanted. We chose Branders.com because they offered the highest quality product in our price range. Branders.com lowers their price if the number of backpacks ordered increases. These
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increments start at 50 backpacks priced at $12.32 each. If you order 100 they are $9.93 each, which is what we went with. There was an initial artwork setup charge of 50$. We also had to pay for shipping which was 126$. No sales tax was added onto the order, and our shipping fee was cheap considering how quickly we received the product. 4.9 Suppliers Our manufacturers are in charge of having suppliers of the raw materials needed to make our product. 5.0 Marketing Plan 5.1 Industry Profile The backpack manufacturing industry will continue to recover over the next five years because of constant innovation and better quality backpacks. Domestic producers will continue to feel the pressure of foreign manufacturing since it is cheaper to produce in other countries. But fortunately for domestic manufacturers, there is a continual a focus on backpack quality. The industry for cooler backpacks is not a large one. The product we ordered is mainly used for promotional activities by companies.

5.2 Growth Potential UD Coolbacks has started out, selling forty backpacks, on our first two outings at the University of Dayton football games, selling to alumni and parents. We are now in our growth stage and constantly searching for new ways to sell, improve and change the look of our cooler backpacks. Dorm storms, alumni events, and selling over holiday breaks to family are a few
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other ways to drive up sales. Other growth potential includes the possibility of placing a second order and selling those out in order to create extra profit. 5.3 Industry Location The backpack industry is located both domestically and foreign. Backpack manufacturers are found throughout the USA, China, and Mexico. UD Coolbacks obtained our backpacks from Mountain View, California from Branders.com. This was a unique vendor, considering they are cooler backpacks, which are basically only found on promotional websites. A cooler backpack is not a common household item, so we have to look at the backpack industry in general for the most part. 5.4 Industry Trends Cooler backpacks are higher in quality, more durable, and directed towards people who love the outdoors. Some new features have been added to cooler backpacks continuing the trend towards innovative quality products. 5.5 Seasonality Factors Cooler backpacks sell the most during the warmer months, as people are not as concerned about keeping their food and beverages cold during winter. Also, the UD Coolbacks can be used to keep food warm and protected from cold winter weather. Therefore, our group needs to do a good job of emphasizing the usefulness of our product throughout the year, no matter what the weather is. We can use the warmth factor to our advantage in advertising during colder months, and the cool factor to our advantage in warmer months. 5.6 Profit Characteristics
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The average profit margin for the industry is 40-75 percent. The backpacks are relatively cheap to make but the consumer is willing to pay up to sixty dollars for a cooler backpack. With all of our costs accounted for, each product costs $11.70, and our profit margin comes out to 41.5%. There are a few reasons why our margin is on the low side. First, we got our product from a supplier who is selling the products for a profit for themselves. They undoubtedly got them for a lower price, but drove that price up to earn a profit. Second, we could have chosen to charge more for each product, but we decided on a flat $20 rate because it is simple and easy for people to pay. 5.7 Distribution Channels Some of the distribution channels consist of drug stores, sporting goods stores, and outdoor activity oriented stores. Another main distribution channel nationwide is the internet, where many promotional websites sell a similar product. UD Coolbacks is focusing on selling the Coolbacks directly on campus to provide convenience for our customers. The furthest off campus we have ventured is to Welcome Stadium, with the products in hand to sell at football games. 5.8 Basis of Competition The cooler backpack industry competes on both price, and purpose. Some cooler backpacks are cheaply made and they compete by having a lower price. Others are just directed towards different audiences, for instance: fisherman or for a family picnic. UD Coolbacks will beat its competitors by having a low price and the convenience of being located right on campus making them easy to purchase. Also, our University of Dayton athletics logo is what sets us apart
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from competition outside of campus. 5.9 Competition Profile UD Coolbacks is in competition with coolers, backpacks, and other means of transporting beverages or cold items. Coolers appeal to tailgaters but are often expensive and a load to carry around. Almost everyone has a quality backpack but very few have a backpack that is also a cooler. Our coolbacks combine both the backpack and the cooler functionality for a low-priced quality product. Below is a chart showing our competitive analysis.

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5.10 Customer Profile The profile of the intended customer is a University of Dayton college student who needs a cooler backpack for beverages on the go, or for bringing back groceries to their room. Also,
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alumni or parents anywhere from age 35-65 who enjoys tailgating and attending University of Dayton sporting events. 5.11 Target Market Profile The target market size is approximately seven thousand undergraduate students plus their parents and alumni from the University of Dayton. UD Coolbacks have the potential to change the design of the backpack to appeal to broader markets as well. 5.12 Pricing Profile The price of the Coolpack is $20. This is an easy amount to pay for in cash, and an amount customers are willing to pay on the spot. 5.13 Gross Margin on Product Projected Sales Projected Expenses Projected Gross Profit September October November December January $800.00 $600.00 $160.00 $0.00 $140.00 $1170.92 $0.00 $0.00 $0.00 $0.00 $(370.92) $600.00 $160.00 $0.00 $140.00

5.14 Break-even Analysis

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5.15 Distribution Channels On campus there are many distribution channels that UD Coolbacks is able to access. Our most successful distribution channels consist of: sports tailgates, freshman dorms, UD Coolbacks' Facebook group, and outside of Kennedy Union. Other means of distribution will be to alumni and parents. A graph is shown below of the projected sales numbers to each distribution channel.

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5.16 Sales Representatives UD Coolbacks will be sold by Matt, Reese, Casey and I equally, with a goal to sell 25 coolbacks per person. We will share the profits equally. We will also all take part in making the flyers, brochure, and other promotional activities. Another important form of advertisement is word of mouth. Our representatives are expected to constantly endorse the product, and take any opportunity to sell or drive up our exposure on campus. Each representative is not required to sell a certain amount, but incentives will be installed for the highest sellers. 5.17 Direct-sales Force The four-team members including myself are each responsible for selling 25 coolbacks. Although we each are responsible for selling 25 Coolbacks, we go out and sell as a team. We have found that being in a group together has helped our charisma and increased the chances of potential customers agreeing to buy. Coolbacks can and will be transferred between team members if opportunities come up, or if a team member has sold all of their inventory. Everyone
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started with 25 coolbacks, and was asked to at least attempt to sell all of them. 5.18 Advertising and Promotion UD Coolbacks has set up a Facebook group, a Twitter profile, and a gmail account. We can be reached at all of these accounts at any time. Another means of promotion is our class brochure, including a picture of our team and an advertisement for our product. This has been put on the Crotty Center website, and has led to some sales for our team. We feel our time is best spent going out and selling the product, and hopefully gaining more word of mouth from the satisfied customers who have purchased a coolback. 5.19 Packaging and Labeling UD Coolbacks are not sold in any packaging or wrapping because we want the product to be showing at all times. Also, we like the idea that as soon as the transaction occurs, the customer can immediately use the product. 5.20 Service and Warranties UD Coolbacks stands by its product as a quality product that will last; however we do not have any warranties. Service is not required. 5.21 Future Markets UD Coolbacks has the ability to change its backpack design to appeal to different markets. For instance we could change the school logo on the backpack to appeal to different schools. UD Coolbacks has the ability to adapt and progress into new markets.

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6.0 Financial Plan 6.1 Projected Income Statement

UD Coolbacks Income Statement (Projected) September 1, 2013 - April 30, 2014

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6.2 Projected Cash Flow Statement

UD Coolbacks Cash Flow Statement (Projected) September 1, 2013 April 30, 2014

6.3 Projected Costs

The projected costs are based off an original inventory purchase of 100 units. UD Coolbacks does not plan on ordering anymore cooler backpacks at this time, however, if a second inventory purchase is needed, UD Coolbacks will coordinate as a team and decide upon a reasonable second inventory investment.
6.4 Sales Projections

Our sales projections were based upon an original purchase of 100 cooler backpacks. These projections align with the sales and marketing sections of our business plan, and because of this, we feel they are attainable. We plan on selling our entire inventory before April 30,
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2014.

7.0. Operations and Control Systems Questions 7.1. Receiving orders Orders that are received are normally hand to hand direct exchanges. Whoever is making the sale is responsible for handing over the product. For any online orders, Casey LeBrun contacts the customer and finds a time and place to make the exchange. Any major decisions will be discussed by all members of UD Coolbacks before becoming final. Anything that cannot be agreed upon will ultimately be decided by the President. Casey LeBrun is in charge of Excel spreadsheets to keep track of orders. 7.2. Billing Customers Customers have the opinion of paying with cash, check, or Flyer Express. The sales date, amount received, and inventory on hand for each person will be updated after every sale. UD Coolbacks makes sure every sale is complete and final. 7.3. Paying Suppliers The suppliers, Branders.com, were paid via debit card by our President. The total fee was $1,170.30 for one hundred coolbacks. In turn, we wrote a company check to reimburse the team
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president who originally incurred the cost. The purchase was recorded into all the financial statements as expenses to the business. Involved in the exchange were two other payments that helped equal the total. They consisted of a $50 fee for a one time printing charge, and $126 for shipping from California. 7.4. Reporting to Management Any issues pertaining to UD Coolbacks are to be communicated to our president, Matthew Packard. The President is responsible for discussing the issue with the team. Regular weekly meetings are scheduled by the President on Monday nights, in accordance with everyones schedule. Everyone is required to attend each meeting, as we discuss business operations. No formal reports are used for issues or communication. 7.5. Staff Development Through the creation of UD Coolbacks, the purpose is to learn and develop each member of the teams knowledge of business operations and what it takes to be a successful entrepreneur. Having weekly meetings will stress being prompt and responsible. Weekly tasks are also distributed at each meeting, and are expected to be fully completed. Marketing and sales techniques are also fine-tuned throughout the selling process. The entrepreneurship lifestyle is experienced fully on a small scale.

7.6. Inventory Control Our inventory is accounted for by using an Excel spreadsheet. We record how many coolbacks each team member has in possession, has sold, and on what dates they were sold. This
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excel spreadsheet is manual, and available via Google Docs to all members of the company at all times. Logistics manager Casey LeBrun is ultimately responsible for making sure the inventory is always updated and correct.

7.7. Handling Warranties and Returns We do not have any return policy. However, if the product is clearly defective and it is pointed out before the transaction, we will provide a different coolback. Once a coolback is bought, the customer cannot return it. We have had no problems with defective product or customers desire to return items. If that comes up, we may meet as a team and decide what action to take. 7.8. Monitoring the company budgets We have a few systems set up to record and update our budget. First, the credit union on campus set us up with a bank account starting with $5,000. This is equipped with online banking that can be monitored at any time. Secondly, our inventory Excel spreadsheet also shows the money coming in, which is added to the budget, and periodically entered into our bank account. We also receive a monthly bank statement to ensure the numbers are all correct. Budget expenses are to be very limited besides the original purchase. 7.9. Security Systems We have passwords set up as security for all accounts pertaining to important info about UD Coolbacks. Only our group has access to our inventory lists, financial statements, e-mail, and social media. Computer info is internet based so its protected from a computer malfunction. Our
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money is protected in the schools bank with no chance of being lost.

8.0 Planning Chart 8.1 Timeline Plan

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9.0 Growth Plan 9.1 New offerings to market UD Coolbacks is providing a lightweight, portable, cooler backpack for all of those adventurers out there interested in keeping things cold! These things could be anything ranging from beverages to sandwiches to the milk you bought at the dollar store; you name it! Furthermore, our product lives in style with the ever popular Dayton Flyers logo right on the heart of it. On both sides of the backpack lie pockets for napkins, flashlights, walkie talkies, or whatever else our customer may need along their adventure. The straps are even adjustable to fit the large and small so no customer shall be left uncomfortable. If our product fails during the duration of our venture, our company will conduct further research and try to find a cooler backpack with different features to generate profit. We feel that our failure will be due to pricing related issues and therefore a cheaper backpack may be more applicable. 9.2 Capital requirements UD Coolbacks was provided a $5000.00 non-interest bearing loan in order to cover its cost of goods sold of $1170.00. This loaned money will be used to fund any further investments in inventory that may arise in the duration of the company. 9.3 Personnel requirements Each member of the UD Coolbacks management team has chosen and is responsible for either the accounting portion of the business, the sales/marketing portion, the logistics portion, or the presidential portion. Regarding these roles, each member is expected to contribute their
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portion to the companies benefit. Time, energy, commitment, integrity, honesty, reliability, communication, and teamwork all attribute and are expected of the management team to acquire success. Surely all of these attributes apply to the selling of our inventory, and each member is required to participate in the physical sales that lead to profit generation. 9.4 Exit strategy At the end of the second semester, 2014, our company, UD Coolbacks, will close down, as well as all of the accounts affiliated with it. Our bank account at Day Air Credit Union, our Facebook group, Gmail account, and Twitter account will all be terminated, and our excess inventory will be donated to the Crotty Center for miscellaneous use. Any profits made will go towards the funding of our groups trip to Chicago for the CEO Conference, and any further proceeds will be given to a charity of our choice.

10.0 Appendix: 10.1. Invoice and Coolback Quote Branders.com Rep: Camille Espinola (866.296.0019) Mountain View, California Invoice #: 651285111 Date: 9/21/13 Client: UD Coolbacks Description: Cooler lined backpacks Production: (1) Setup Charge and Labeling/ $50.00 (100) Black and Blue Cooler Backpacks/ $994.00 (1) Shipping/ $126.92 Amount Due: $1,170.92 Total (paid before delivery) -$0 Sales Tax

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10.2. Works Cited

Bradley III, Don B., Dr., Jeannette Thomas, Kim Stubbs, Pierre Murat, Sherryl DeVries, and Stephanie Wheetley. "A Step-by-Step Business Plan Guidebook." Small Business Advancement Center, n.d. Web. 5 Nov. 2013. <https://myfilessecure.udayton.edu/oneNet/NetStorage/DriveJ%40SBACRSE/MGT%20220/Business%20Plan% 20References/14-BusinessPlanGuide.pdf>. Espinola, Camille. Branders.com. Branders, n.d. Web. 21 Sept. 2013. <https://www.branders.com/pages/order/viewLineItemDetail.action?orderNo=9330631>. "UD Bookstore | Team Apparel, Gifts & Cheap Textbooks." UD Bookstore | Team Apparel, Gifts & Cheap Textbooks. N.p., n.d. Web. 07 Nov. 2013.

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10.3 Matt Packards Resume

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10.4 Casey LeBruns Resume

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10.5 Ian Palins Resume

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10.6 Reese Eckenrodes Resume

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10.7 Advertisement Example

10.8 Copy of Invoice

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