Business Plan Sample

Took a business class…had to write a business plan…yea that was fun..hope it helps, you have to write one class!

 

Executive Summary

The Faith Kids encourages kids that they are Faith Kids and to live a life of Faith. Instilling in them sound biblical principles that will help them address issues they face daily, and to encourage them to develop moral character, through animated and interactive content such as webisodes, daily devotionals, bible lessons and games.  Providing a safe online environment for children, high quality content, excellent customer service, and sound biblical doctrine. Thefaithkids.com is a start-up company with 4 full time employees, founded by BushellMedia which is a C corporation founded by its principal founders. The company has a home-based business, the initial website is http://www.bushellmedia.com

 

Management & Organization Plan

Management Team

Antonio Bushell Owner, Manager

Antonio has over 15+ years’ experience in the videography and editing industry. In addition he has served as Founder and CEO of the successful small multimedia business BushellMedia, over 5+ years. He has an associates in computer graphics technology from Schoolcraft College. He will maintain all daily business operations.

Natausha Bushell Owner, Administration & Accounting

Natausha has over 14+ years in Administration, and has also served as co-founder of BushellMedia as business administrator and accountant. She holds an associates in Business Administration from Oakland Community College. She will manage all accounting and research and staffing operations.

Projected Management

2 Part time employees will be hired to fulfill staffing needs in the 2nd and 3rd year of operation to handle increased sales fluctuations. A sales representative will be hired within the first year of operation, to help gain access to our desired customer base. In addition, a fulltime animator will be hired in the 2nd year of operation to assist in animated production content.

Company Ownership

The proposed legal form of business is a Limited liability Corporation, which will protect the assets of the members invested in the company from the business creditors and it would only mandate its members to pay back that of which they invested personally. Furthermore, establishing the LLC will help keep additional expenses at a low, due to the registration process being affordable, and step-up is not difficult. In addition, all income and expenses made within the company are reported on the LLC owner’s personal income tax statement.

Financial Overview

Due to the face that The Faith Kids is primarily an online business, overhead costs have been dramatically reduced by nearly 80% give or take other tangible products The Faith Kids will sell on its website. Majority expenses needed therefore will go directly to establishing exactly what is needed to make the business run, instead of building costs. Therefore start-up costs for year 1 will come to a total $86,767.43 which includes website development, equipment, legal entities, insurance, and start-up marketing plan.

Based on projected sales forecast, annual sales are expected to increase by nearly 2-3 million per year, skyrocketing to a nearly 10 million dollars in annual sales within its 3 year lifespan. Yearly subscriptions are expected to increase significantly per year, while tangible memorabilia products are expected in steadily increase overtime per year. Sales are expected to increase during high seasons such as during summer months, with a low projection in sales during stagnate months such as the winter months. Furthermore, during holidays such as Christmas, and Easter are expected to experience a dramatic increase in sales, based on market research, which shows that sales for Faith based content increases during these major events.

 

Marketing Plan Overview

Target Audience

TheFaithKids.com is dedicated to providing entertaining, and biblical educational content for children, ages 8-12, mothers, and youth ministries, providing a safe and trusted online environment, family connection points, and a sound biblical curriculum.

Industry Profile

The Faith Kids is within an established but still emerging and fast growing market in the past few years. The outlook toward Faith based content is changing, over 229 million Americans identify themselves as Christians, and its recent popularity is due to its family friendliness, and positive message. Furthermore, according to research “Americans are asking for more positive, family-friendly entertainment.”

Competitive Analysis

Digital Technology is the dominating force of the 21st century and The Faith Kids mirrors and complements this dominating force, by providing online and digital streaming content, for users of various platforms. Unlike many of its competitors, The Faith Kids will teach practical biblical principles, with strong message centered content rather than just a medium of entertainment for children, through rich interactive media, while providing affordable, but competitive pricing, and high quality content.

Marketing Plan

The Faith Kids will launch with an explosive campaign on recruiting 1 million Faith Kids worldwide, establishing the brand as a powerful Faith movement, rather than just a brand selling products and offering services. The Faith Kids will become a traveling company, hosting various Faith Kid conferences at churches within the community. In addition, implementing creative guerilla marketing techniques that connect directly with the beliefs and values of those within our target audience

 

Management & Organizational Plan

 

Business Ownership

The proposed legal form of business is a Limited liability Corporation, which will protect the assets of the members invested in the company from the business creditors and it would only mandate its members to pay back that of which they invested personally. Furthermore, establishing the LLC will help keep additional expenses at a low, due to the registration process being affordable, and set-up is not difficult. In addition, all income and expenses made within the company are reported on the LLC owner’s personal income tax statement.

Business Launch

TheFaithKids.com will fully launch in summer of 2016, providing ample time for the business website to be fully developed, functional, and ready to stream and sell content. In addition, providing preparation for building an established fan base, buzz, and anticipation of its content.

Management Team

Antonio Bushell Owner, Manager

Antonio has over 15+ years’ experience in the videography and editing industry. In addition he has served as Founder and CEO of the successful small multimedia business BushellMedia, for over 5+ years. He has an associates in computer graphics technology from Schoolcraft College. He will maintain all daily business operations.

Natausha Bushell Owner, Administration & Accounting

Natausha has over 14+ years in Administration, and has also served as co-founder of BushellMedia as business administrator and accountant. She holds an associates in Business Administration from Oakland Community College. She will manage all accounting and research and staffing operations.

Jasmine Shavers co-owner, Graphic Artist

Jasmine has over 4+ years in the industry of Graphic Design, she will serve as Sr. Graphic Designer and co-lead animator in creating required graphics or the website, as well as in creating the animated content needed for business, such the webisodes, and bible lessons, upon graduating with her Bachelors of Art degree in Graphic Design.

Projected Staff Team

2 Part time employees will be hired to fulfill staffing needs in the 2nd and 3rd year of operation to handle increased sales fluctuations. They will be required to hold a high school diploma or higher, with a requirement of at least 1 year customer service or sales representative experience, and need to have established skills in basic computer processing. In orientation, employees will learn the mission, vision, sales goals, daily operations, and customer service standards, to say the least.

A sales representative will be hired within the first year of operation, to help gain access to our desired customer base. This positon will require a bachelor’s degree or higher, in sales/marketing and/or advertising, and 5+ years’ experience. The sales rep will be training on company mission and sales goals will work independently, and will be paid on a commission bases.

A fulltime animator will be hired in the 2nd year of operation to assist in animated production content. This positon will be based on portfolio based experience.

A fulltime Social Media Marketing Specialist will be hired within the first year of operation, to build, and growth a fan based among various social media platforms, such as YouTube, Twitter, and Facebook. This positon will require an associate’s degree or higher in marketing, as well as 1-2 years’ experience in social media marketing.

 

Employee Benefits

Paid vacation and sick day packages will be made available for fulltime employees, as well as incentives for outstanding performance in customer’s service, and sales goals.

 

Key Advisors

Bishop Benjamin A. Gibert will act as one of key advisors to The Faith Kids, who serves as active Pastor of Detroit World Outreach Church, and holds several degrees in engineering and holds experience in business.

Product/Service Plan

 

The Faith Kids encourages kids that they are Faith Kids and to live a life of Faith. Instilling in them sound biblical principles that will help them address issues they face daily, and to encourage them to develop moral character, through animated and interactive content such as webisodes, daily devotionals, bible lessons and games.  Providing a safe online environment for children, high quality content, excellent customer service, and sound biblical doctrine.

Features

Thefaithkids.com will provide a mix of products:

Subscription Memberships – Membership subscriptions include but are not limited to weekly webisodes, access to The Faith Kid academy Bootcamp Training which is a 4 day training course, teaching children how to be a Faith Kid. After children have completed the training successfully, and have passed all required assessments to test their knowledge, they will receive a customized certification of certification via postal mail.

Paraphernalia – T-shirts, posters, confession cards, comic books, coloring books that appeal to our target markets.

Thefaithkids.com website will meet a want for parents wanting to keep their children entertained however with good, positive, safe, and kid friendly content that is also biblically educational. Parents will have the opportunity to do lessons with their children, and children can access fun, new content every week. In addition if thefaithkids.com was meeting a need, it would be a moral need, where children can better develop more moral character, and stay spiritually fit/sound.

Advantages

Thefaithkids.com has an In-house team, such as editors, writers, animators, videographers, and web graphic developers, allowing us to produce more content at a faster rate than our competitors, such as ‘SuperBook’ who produce new episodes every 4-6 weeks. In addition, for access to all weekly and monthly content, customers pay one low price of $49 for the entire year to access all content on thefaithkids.com website. This includes weekly webisodes, monthly bible lessons, activities, games and more.

Furthermore, it becomes a valuable resource for parents, because they can let their children venture onto thefaithkids.com website, knowing that it’s safe, non-violent, positive, and is teaching their children something to better develop in their Christian Faith. Lastly, it also becomes a useful tool for churches/religious organizations to have access to Bible curriculum ideas and activities for their ministries.

 

In terms of the tangible products that will be sold on thefaithkids.com such as the custom Faith Kids confession cards, T-shirts, Coloring Books, Comic Books, ect, these will be produced by suppliers who can create the custom products for mass production.

Intellectual Property

I am a graphic design student, I have nearly completed all courses needed to obtain my associates, and I then plan on completing my bachelors in 3D modeling/animation. I plan on starting this business with my immediate family, we all have over 15+ years’ experience in writing, animation, editing, videography, photography, and graphic design, as we currently operate a small multimedia company offering services such the ones listed above.

 Risks

Thefaithkids.com is an online website, liability risk are limited. Possible risk are issues with the website itself, such as making sure the website stays active and doesn’t crash, especially during a purchase. Purchasing the necessary bandwidth, ram, and storage space to hold all website content and users is important to decrease/eliminate liability risk.

 

Market Analysis

 

Alone the Christian retail market does over $4.6 Billion in annual sales, and among the Christian demographic, there is an estimated purchasing power of $5.1 trillion a year. There are over 229 million Americans identify as Christian, and research shows 74% Americans believe in God. Darren Cranford a partner in Reel Inspired Entertainment says “Buyers are actively looking for Christian products, he says. The Passion made it OK to be a Christian.” This market is vastly growing, and is already an established market, with an even greater customer potential outside the United States. During recent years, among the Christian film industry, Christian worldviews averaged more than $73 million at the box office, compared to $21 million for films that didn’t abide by Christian morals.[http://smallbusiness.foxbusiness.com/entrepreneurs/2011/09/28/faith-based-marketing-can-tap-into-powerful-consumer-base/, http://www.homemediamagazine.com/studios/faith-based-content-rise-33079, http://www.awn.com/animationworld/faith-based-animation-rise%5D

Typical Customers

The Faith Kids customers are between the ages of 18 – 45, I start with the age of 18 because there could be young moms that are just concerned with the content their children are exposed to than “seasoned” mothers. I target woman, more specifically mothers, from middle to upper social classes, who would not only have the income to afford the products/services offered by The Faith Kids, but who have children, which is what The Faith Kids is targeted toward, the children would be the “users” of The Faith Kids products/services.

This target market would include mothers with at least a high school education, and mothers of the Christian religion, more so those within the non-denominational sector of Christianity since The Faith Kids, isn’t specifically Baptist, catholic, so one and so forth. The target audience could also include mothers who are married, so that both parents are able to make a sound decision on buying the products for their children, however is not limited to married mothers. In terms of Geographic’s, mothers within high populated or high traffic areas, rather than rural areas would be a target, who are constantly exposed to ads, when running errands, department store shopping, and ect;

The Target audience would also include Children between the ages of 10-14, elementary, and middle school children, male and females. Religious children, or those raised within religious households.

Lastly, Religious organization, such as churches, or more specifically, mega churches who have anywhere between 1,000-50,000 members. Even more specific those churches within high traffic or high populated areas, that have a strong tie with their communities.

 Consumer Behavior

The Faith Kids target audience have Semi/Strong Christian values, either ones they strictly follow, or those who have a sense of religion, based on them being raised in religious homes. Those wanting their children to grow up with a good sense of morals and character. Those who want their children to be exposed to positive content, instead of bombarded with negative images and text seen more so on television these days. Those who are looking to not only entertain their children, but also educate them in a fun way. Organizations looking for creative ministry consents and lessons to use in their Youth Ministries.

 

Consumer Needs/Wants

Create compelling marketing strategies that would resound with a mother, making use of Guerilla marketing strategies, with being a small business, in terms of why The Faith Kids is a brand she should/would invest in her children. It would be beneficial to target those places where mothers are most present, even more so with their children. For example, department stores, toys stores, grocery stores, local and retail stores. In addition those, since part of the target audience is also Christians mothers, offering the product/service in places where Christian content is sold, which includes the retail stores ( like Walmart, target, due to increase popularity of faith based content) but also Christian bookstores, online, church book stores, and other religious organizations.

Since the other half of our target market are churches/ministries/religious organizations,we will provide background information about the doctrine of The Faith Kids, since it is religious based, providing as many facts and information about the products/services as possible. Creating compelling presentations of the products/services to demonstrate the creativeness and uniqueness of The Faith Kids to emphasis the importance of what The Faith Kids teaches, and how and what children will learn from The Faith Kids.

 

 

Industry Profile

 

83% of Americans identify as Christians, and 229 Million Americans are Christian. According to an article in smallbusiness.foxbusiness.com “Regardless of the size of the company, faith-based marketing can help reach an expansive Christian demographic with an estimated purchasing power of around $5.1 trillion a year” and according to an article in homemediamagazine.com “Christian worldviews averaged more than $73 million at the box office, compared to $21 million for films that didn’t abide by Christian morals.” [ http://www.homemediamagazine.com/studios/faith-based-content-rise-33079, http://smallbusiness.foxbusiness.com/entrepreneurs/2011/09/28/faith-based-marketing-can-tap-into-powerful-consumer-base/, http://abcnews.go.com/US/story?id=90356&page=1]

 

Faith Based content isn’t a new trend, instead it’s just a market that is grower faster. Focusing in on Christian Animation for children, this content has been available since the 1960’s. In addition distribution companies such as ‘Monsters’ has established since 1977, and has created various faith based themed animations such as TLC Kids “The Ten Commandments’ and another popular cartoon “Hermie and friends” produced by Glue Works Entertainment. Furthermore there are long runners in the Faith based markets who have been producing Faith Based Animation such as CBN and EMI CMG Marketing. According to an article by awn.com on the Animation World there is cry for more Faith Based Animation. [http://www.awn.com/animationworld/faith-based-animation-rise]

 

Faith based content in general is not a new trend, however it is just one that has been steadily growing more and more. According to an article by rejuvenatemeetings.com “Americans are asking for more positive, family-friendly entertainment.” In addition, says founder Joe Boyd and president of Rebel Pilgrim Productions. “From a market perspective, it’s as simple as giving people what they want.” It has been said that the year 2014 was crowned the year for immerging popular faith based films, and that family-friendly faith based movies are earning more every year. [http://www.rejuvenatemeetings.com/feature/faith-based-films-becoming-mainstream/]

 

According to a spokeswoman from Target, there seems to be spikes in Faith Based content around the Easter Holiday. Furthermore Peluso of Affirm Films advised there are seasonal spikes for Faith based content during Holidays like Christmas, Easter, and somewhat during the back to school season, however for this is for mainstream retailers, but for Faith based retailers, there is a year-round want for Christian content. How this affects The Faith Kids, is that it may be important to drive sales/advertising during these major seasonal spikes, if products/services will be offered in stores. In addition, it may be wise to gear advertising specifically to Faith based retailers, especially those online, since The Faith Kids is more online user driven. [http://www.homemediamagazine.com/studios/faith-based-content-rise-33079]

 

It could be said that Faith Based content is in the Growth and acceptance stage, the break out for Faith based content came with Mel Gibson’s Passion of The Christ in 2004, and then with a sudden rise in 2014, in which more producers, creators, viewers, and buyers began to pay more attention to this arising market of Faith Based content or films. This market is growing, and very fast, in just a few years, focus and views on Faith based content is changing, people are having more of a popular outlook on it, especially due to its family Friendliness and positivity.

 

 

Competitive Analysis

 

The Faith Kids Our primary competitor is Phil Fischer, creator of “The Veggie Tales” in his new series “What ‘sin the Bible?” unlike The Veggies Tales, this is not animation, its more puppet based content, mixed with reality. “What’s In the Bible” primarily offers Videos and DVD’s in fun educational bible series, teaching kids and parents about the stories in the bible, both in-stores and online. They offer individual movies and movie bundles, most DVD’s are $14.99 aside from movie bundles, and items on sale. Secondary to their video series they have Bible/DVD curriculums, for church editions, and they also sell music, books, toys, gift cards, Christmas related items, and subscriptions. “What’s in the bible offers quality low priced items, affordable for families, and fun, family-friendly content. The series is not available on television, just as Veggies Tales rarely appeared on television except for a censored Christmas special, due to the nature of the content. Most advertisement is done via Social Media marketing, such as Facebook, YouTube, and Google advertising, though it may be possible that the series is being advertised on cable networks, since research shows more Faith based content is prevalent on cable networks.

“What’s in the Bible” doesn’t offer direct telephonic communication for website troubleshooting, however they offer FAQ documents and email correspondence for help, questions, and product related issues. Strengths include an already branded creator who is Phil Fischer his name is household name and trusted name behind “The Veggies Tales.” One of their weaknesses is that they have an online presence in terms of buying online content, however it’s not as strong. With this being the digital age, it’s important to have a strong online presence, where games could be offered on their website for children to better interact and learn more, instead they have stagnant social media accounts like Instagram and YouTube, with little interaction, and no games for children to play online, nor do they have an app.

A secondary competitor would be CBN’s “Superbook” which is a fun and educational bible series, to help children learn the bible and grow their Faith. Their main products are the DVD animated series, which is sold based on donations, and is offered as a church addition and by subscription base. With subscriptions buyers join the DVD club and have access to a new DVD, in which they pay $25 for once a new episode is released. In addition to their DVD’s “Superbook” has a solid online presence, offering a safe website for children to play games, learn the bible, and grow their Faith.

A major strength for “Superbook” was its innovation, “Superbook” was originally a series created in 1981, and it started as a book that turned into a 2D animated series. CBN revamped the series, updated it, gave it a new look, however it still encompasses the same strong, and powerful message of the gospel. In addition, “Superbook” is available globally, and can be seen on broadcast networks around the globe, so the brand that was created in 1981 is still present, it just has a new face. Because “Superbook” is owned by CBN, its donation based, and much of its advertisement is done on popular Christian shows like ‘The 700 Club’ with some television, and

 

Social media advertisement as well. In terms of customer service, their website offers a way to provide feedback via email.

To discuss a weakness for “Superbook” would be with most of their content, the stories being taught are strong bible stories, however the stories don’t provide a clear message to how modern-day children are able to take those stories, and apply them, directly to themselves, or to situations they face on a daily bases. Partly what sparks the popularity of a cartoon/show/movie catered specifically toward children, is that children are able to find themselves in the life of the character of those productions, even if fictional, so there is an emotional tie, a connection, “Superbook” lacks this.

One last major competitor would be “Veggies Tales” which is no longer owned by Phil Fischer however was bought by a subsidiary of DreamWorks, called ‘Classic Media’ Veggies tales main sales are still driven primarily by DVD sales, and other products they sell, including books, music, and other selected memorabilia. Most DVD’s are $9.99, which is a stepped down from their regular prices of $14.99, however this could be due to the DVD’s sold are outdated. In addition “Veggies Tales” have a mobile app.

Veggiestales.com, does offer email feedback on their shopping subsidiary webpage for product related questions. Television advertising information is unknown, though it’s possible Advertising is done on more cable networks, presently at this time, no local television advertising is present, they do however run Facebook ads about upcoming products and events, and also on their Instagram accounts, so it seems like they have more social media marketing.

“Veggies Tales” strengths would be since the brand is under new management, they have produced any new DVD’s that are being sold in-stores online, instead they were picked up by Netflix, and now have a Netflix original series, that has new stories, lessons, and songs. “Veggie Tales” is trying to gain more of a bigger online audience, their website is also fully functional, that has video clips, and games for user interaction, and they too like many, have church resources/editions. However, their weakness would include a somewhat lost or damage to the brand, based on their reviews for the new Netflix series, many consumers are not happy with the new look and voices of the original characters, and many believe the message has detoured away, meaning it isn’t Christ centered anymore. Furthermore, based on their information on Netflix, “Veggies Tales” is now catered to children between the ages of 2 – 4 years, although it says great for all ages, so they are not catering specifically to the market audience of children between the ages of 5+ unlike The Faith Kids and “Superbook.”

 

 

In direct competition, based primarily on an online presence, would be websites like nick.com,cartoonnetwork.com, and disneyXD.com which also offers kid friendly, and fun content, along with free episodes, games, virtual worlds, and activities for children to do all online, which is directly related to their favorite characters of shows and movies. It would be imperative for The Faith Kids to brand itself in such a way, that it appeals to both kids and parents, as content that is fun, educational, kid and family friend. In addition to creating a brand that appeals to children where they are able to make an emotional connection to The Faith Kids, and see them a lovable characters they would want to emulate.

That is what these indirect competitors have done, they’ve created characters in shows/movies that children can relate to, the characters have become lovable, and enough that children want to be like them in some ways, and want to stay connected with them outside of watching them on television. Thus, good marketing strategies are implemented, and children can watch those characters, in short webisodes online, interact with them in games, and purchase related merchandise in-stores and online, thus needs and wants are fulfilled.

Because The Faith Kids would be an outbreak bible series, that is being offered primarily online, to capitalize on our competitors weaknesses and gain the advantage, our goal would be to generate such a buzz online, and word of mouth to get the brand name established. The goal for this would be through creative and explosive guerilla marketing techniques, in addition using advertisement techniques not currently being used by competitors, however ones that still make sense to the message of the brand.

Furthermore, The Faith Kids is a ministry, not just a means of entertainment for the children, so to that, The Faith Kids will be a traveling brand, holding Faith Kid conferences in churches locally, and eventually nationwide, and then globally, the goal is to market The Faith Kids in such a way that it’s a movement.

The Faith Kids will have an explosive online/digital presence, offering most of their content online, with selected items being sold in-stores. The Faith Kids will be teaching practical biblical principles, with strong message centered content rather than just entertainment, through rich interactive media.

 

Marketing Communication Plan

 

The Brand

That The Faith Kids is a brand that can be trusted, to not only entertain children in a safe online environment, but also teach children sound biblical principles that will teach them problem solving skills, and that they too can be a Faith Kid. This image will be portrayed, by providing just as much information and activities to parents, as to the children, about the philosophy and biblical principles behind the Faith Kids. In addition being transparent, to show The Faith Kids is operated by a Christian Family, who follow and teach those same principals within their own families, letting customers see the faces behind the brand.

Customer Service

The Faith Kids will provide outlets for customers to provide feedback and suggestions, as well as ways to express their concerns, or if they have questions about products/services. These outlets will be made available via email contact, suggestions boxes, surveys/polls, through comments via our social media pages, and eventually a customer service telephone line.

Location

The Faith Kids is not brick and mortar, it is mainly online. Due to digital goods being so popular at this time, with online streaming, apps, social media, and of course websites, I wanted to better cater to those needs of my target customers, by offering them a more faster route to access their content via online.

Sales Team

My sales team will be responsible for providing and updating our customers on existing and new products, when they become readily available, keeping our social media accounts updated with information about the brand, in regards to sales, events,  conferences, and touch points interactions with our customers.

The sales team will be educated on the vision and mission of the company, and educated on social media marketing skills via presentations, will be required to attend regular meetings to learn about website progress, updates, new changes and implementations.

In addition, since part of our publicity would come from word of mouth, sales rep with be provided with hot cards or pamphlets with information about The Faith kids, for selling points.

Publicity

To generate publicity, The Faith Kids can Partner with local religious organizations to support various causes that involve children, to push our brand motto that they want every child to know, they too can be a Faith Kid. This could be done via Christmas gift donation/giveaways, via red cross charities, coats for kids, back to school charities, orphanage charities, and ect;

Sales Promotions

A few guerilla marketing techniques, contests, giveaways and sweepstakes to win limited edition Faith kid items, which would be held via our social media accounts like Facebook, Twitter, and YouTube. Children who pay into a membership will be able to earn points by completing various tasks on the website, and once earning so many points, will have the opportunity to cash in those points for prizes.

 

 

Advertising Plan

 

Social Media

The Faith Kids YouTube channel will be used primarily to relay information to potential customers, and existing customers about what is being offered on the Faith Kids website, snippets to new bible lessons and webisodes, and for regularly held contests and giveaways. Twitter and Facebook will be used as tools to keep customers interacted and constantly see content from The Faith Kids, to keep a constant awareness. Our Facebook page will also consist of information about upcoming events, sales, charity events and opportunities, and more.

 

Guerilla Marketing

 

  • This could be Popular in Malls, during the holidays, find a blank canvas wall, place the Faith Kids logo in the center, have each of the Faith Kids in different fighting and superhero poses on this mall canvas wall, there is a message that says “take one” people/kids can walk by and peel one of the Faith Kids characters off the wall, it’s like a reusable sticker that can stick on any wall, without damage. The sticker would also include thefaithkids.com web address, and a small excerpt or slogan about what The Faith Kids has to offer.

 

  • This could be for Popular Department stores, malls, and movie theaters, also during the holidays. There would be a display case/area there would be the 4 Faith Kids Characters, however only the heads, and people would be able to come and put their heads in the place of the characters and take pictures. There would be a slogan such “Be the superhero in your kids life this holiday” and on display would be The Faith Kids gift/memberships cards for access to The Faith Kids website.

 

  • This could be for department stores, there would be giant stickers on the floor in a trail pattern, it would be each Faith Kid character fighting one of their enemies, and as the potential customer walks, following the fighting trailer, it will lead to a display shelf that holds The Faith Kids membership game cards, and it may say “find out how the story ends”, in which a customer would purchase a membership card to access the webisodes on the website.

 

  • Since The Faith Kids is also comic book oriented it might be beneficial to set up a free comic book giveaway of The Faith Kids, such as in a mall, department store, comic bookstore, as a promotion there could be big cardboard cutout of the 4 Characters, and maybe 100-200 comic book that people can take for free, and on each comic maybe there could be a coupon for access to the website, as well as social media information for people to share with other friends/family member’s.

 

  • Good display for movie theaters, and a giant Classic View Master 3D Viewer (from like the 90’s) where people could walk up and look through the viewer, and pull down the level to view various 3D images of The Faith Kids in action, this will have also have giant QR code near the View find, and that QR will lead to the “purchase membership” page on the Faith Kids website.

 

 

Word of Mouth Advertising

The Faith Kids can generate word of mouth buzz, with a launching campaign, such as “The Goal to have 1 million Faith Kids Worldwide” this can be accomplished this by holding Faith Kid conferences in local churches. These conferences will be catered to teaching youth they too can be a Faith Kid and how. These conferences will consist of illustrated sermons, games/prizes, songs, and the final lesson about Identity. Since much of our target audiences that we are catering too are Christians, we want to make this an event that parents would be invited to as well. Our goal is to create awareness and spark an interest in The Faith Kids to as many in our target audience as possible, and be sure to provide information to families about where to purchase Faith Kids merchandise, and how to access Faith Kid social media to stay connected.

 

Specialty Advertising

For specialty or novelty items, The Faith Kids logo and web address information will be printed on T-shirts, drawstring bags, and journals as an example. We want to cater to items that our consumers can wear or use every day. We want provide specialty journals with The Faith Kids on them to provide a reminder to children every day to perhaps visit The Faith Kids website to make a purchase to keep update with weekly bible lessons and webisodes, and play games.

Business Website

Once customers have bought their 1 yr. subscription for access to The Faith Kids website children, when first accessing the website will be prompted to watch the introduction video, and immediately get started with The Faith Kid Academy Bootcamp Training, which is a 4 day training course, on 4 topics, training on how to be a Faith Kid, and what it takes. After children have completed training, they will receive a certificate of approval, and that will unlock the other content on the website, such as the webisodes, bible lessons, games, and other activities. Customers will also be able to purchase content online, down free digital downloads like wallpapers and coloring pages.

 

Email Advertising

The Faith kids will utilize more email than direct mail to connect with others, because The Faith kids isn’t meeting a direct essential needed, we want to eliminated as much wasted advertising as we can, because it may be hard to cater to our specific target audience sending things via direct mail, which are Christians. Instead we want to stay connected with our customers via newsletters through email. Customers will have the option of signing up for our monthly newsletters.

Traditional Advertising

The Faith Kids brand will advertise more so on cable network channels, seeing as more faith based content is more popular, in terms of advertising on cable networks. In addition, The faith Kids will aim to advertise in magazines, more so used by those in our target audience, such as mothers, families, and religious magazines. Furthermore, The Faith Kids will also utilize out-of-home advertising on billboards, bus stop benches, posters ads and such. With the out-of-home approach I would want to display ads in uncommon places, which one wouldn’t normally see Faith based content.

 

Pricing Strategy

 

In the marketing communication brand, The Faith Kids will strive to reflect a brand that can be trusted, that is safe and that serves as a means of not only entertainment but also educational. We want customers to get “a bang for their buck” having high quality services/products, being offered at prices they can afford. Therefore I would be offering my product a mid-range, slightly higher than my top competitors, but in line with a fairly low competitive pricing.

 

Price Lining makes sense for my product/service, since I will be offering membership subscriptions to access various levels of content on my website. In a customer wants access to more features on my website, they could upgrade, or buy into a better membership package.

 

We could also incorporate suggested retail prices, giving customers price comparisons on membership subscriptions, to show them the better value in our products/services than those similar to my own.

 

Offering bundles would be beneficial in my pricing, since I will be offering packages to religious organizations such as churches, who may have youth range from 100+ youth, so I could offer a bundle that would include both the services and products, and I could offer it at a lightly lower price if bought as a bundle.

 

Subscription Membership Packages

Standard Best Value Premium
Includes:

Faith Kid Academy ONLY

  • Lesson 1: Christ-Identity vs. Self-Identity
  • Lesson 2: The Holy Spirit Is Your Guide
  • Lesson 3: Fear Stops Faith
  • Lesson 4: The Power of Confession
  • Online Certificate of Completion

 

This package also includes printable study guides and activities for each lesson

 

Includes:

Faith Kid Academy

  • Lesson 1: Christ-Identity vs. Self-Identity
  • Lesson 2: The Holy Spirit Is Your Guide
  • Lesson 3: Fear Stops Faith
  • Lesson 4: The Power of Confession
  • Customized Certificate of Completion mailed to student that completes the Training
  • Access to weekly webisodes
  • Access to weekly bible lessons
  • Access to games and activities

 

Includes:

Faith Kid Academy

  • Lesson 1: Christ-Identity vs. Self-Identity
  • Lesson 2: The Holy Spirit Is Your Guide
  • Lesson 3: Fear Stops Faith
  • Lesson 4: The Power of Confession
  • Customized Certificate of Completion mailed to student that completes the Training
  • Access to weekly webisodes
  • Access to weekly bible lessons
  • Access to games and activities
  • Includes ONE Faith Kids poster, pack of Faith Kids Confession Cards, and a Faith Kids T-shirt

 

$25 $49 $75
Compared to my competitor ‘Superbook” who offers memberships at $25 per membership which comes with a bundle of items including episodes, however the member is charged $25 for every membership purchased when a new episode is available every 4-6 weeks.

 

Financial Narrative

Start-Up Costs

Due to the face that The Faith Kids is primarily an online business, overhead costs have been dramatically reduced by nearly 80% give or take other tangible products The Faith Kids will sell on its website. Majority expenses needed therefore will go directly to establishing exactly what is needed to make the business run, instead of building costs. Therefore start-up costs for year 1 will come to a total $86,767.43 which includes website development, equipment, legal entities, insurance, and start-up marketing plan.

Sales Forecast

Based on projected sales forecast, annual sales are expected to increase by nearly 2-3 million per year, skyrocketing to a nearly 10 million dollars in annual sales within its 3 year lifespan. Yearly subscriptions are expected to increase significantly per year, while tangible memorabilia products are expected in steadily increase overtime per year. Sales are expected to increase during high seasons such as during summer months, with a low projection in sales during stagnate months such as the winter months. Furthermore, during holidays such as Christmas, and Easter are expected to experience a dramatic increase in sales, based on market research, which shows that sales for Faith based content increases during these major events.

Financial Ratios

  • Thefaithkids.com benefits from using operating ratios to monitor performance, with this ratio the business can evaluate if resources ae being used effectively. Thefaithkids.com Isa small online business, and if we are able to use our resources effectively we won’t have to have a much capital, and this can help us stay competitive.
  • In addition, using quick ratio’s or Leverage ratios could be beneficial as well, seeing as leverage ratios measure the financing supplied by a company’s owners against that supplied but its creditors; with thefaithkids.com we do plan on obtaining loans from banks and investors if possible, this ratio will help us determine how much we are relying on our debt capital, and could help us to be innovative, so as to reverse this.
  • Furthermore, it may be important for thefaithkids.com to use Debt to Net ratio, I believe this will provide a check and balance for The Faith Kids, and its various projects. If we plan on expanding The Faith Kids, eventually globally, it’s important we don’t borrow too much and too fast, so that our debt isn’t more than what our company is worth. It may be smart to borrow less in the beginning, in order to borrow more lately, when the net worth of the company has increased, especially if we are able to do more with little. With debt to net ratio, if we maintain a low debt to net we may have more financial security.
  • Lastly, thefaithkids.com would utilize profitability ratios, or Net profit on sales ratio. In this ratio it will help thefaithkids.com measure how much profit we are really making per dollar of sales, via our website yearly subscriptions, which is the main driving force of the business. Though we have eliminated much of our overhead with our online business, because it is more service base more so than product base, that doesn’t negate the fact we will still have other expenses and incomes taxes.

Ratios are important because they establish a check and balance, or an accountability for your business, they force you to keep tabs with various parts of your business. Ratios measure the effectiveness of the back end of a business, and its important, to help the owner(s) understand you can’t spend so much time on the “frontend” of the business, when the “backend” is what really makes it run, and work effectively and efficiently. These ratios will help thefaithkids.com because it will help us to focus not just on sales and profits, but the other mechanics to help us maintain sales, and increase profits. Its sometime easy to think a business that is more service base will get more sales and profit, if it stay competitive than a business that sales products, which could be just the opposite, these ratios are just as good for service based business like The Faith Kids, as well as product based businesses.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s