Section 6

Team 8

Fall 2016

Business Plan
Business Name: American Elevation: Making Outdoor Leisure Easy
Business Idea: Our Company is producing an outdoor chair that has a built-in pneumatic seat to
assist those with limited mobility. American Elevation will be manufacturing assembled chairs and
shipping them to consumers.

Team Members: Email address

Aaron Bryant _______________________ bryantab@dukes.jmu.edu
William Furlow _______________________ furlowwo@dukes.jmu.edu
Katherine Lachine _______________________ lachinkm@dukes.jmu.edu
Daniela Nadal Martinez_______________________ nadalmdx@dukes.jmu.edu
Viktorija Rodgers _______________________ rodgervd@dukes.jmu.edu
Nicole Swindell _______________________ swindenx@dukes.jmu.edu
 Executive Summary
American Elevation, S-Corporation
Harry Behie
668 N Orlando Ave, Maitland, FL 32751
Phone: 407-683-4592
E-mail: harry.behie@ae.com

Management:
Titles: Business Description: American Elevation
General Manager is an S-Corporation that manufactures a
Accountant pneumatic assisted outdoor chair helping
Sales Representative people with limited mobility.
Customer Service Representative
Manufacturing Worker Products/Services: Our product is a
Operations Specialist pneumatic assisted outdoor wicker chair. Our
QA/QC supervisor target is to sell 6,000 units in the first year.
The cost of production for each chair is
Industry: Furniture Manufacturing $97.86 with our selling price at $400.

Number of Employees: 29 Competitive Advantage: Unlike anything in

Amount of Financing Sought: $1,850,000
Investment Sources:
Bank loan worth $550,000
Issuance of stock worth $1,300,000
Collateral: Company assets
Use of Funds: Distribution of salaries,
manufacturing, office buildings and
equipment.
Product/service selling price: $ 400
the market, the AE wicker chair will be
specialized and high-quality. It will provide
comfortable outdoor style living, while
providing assistance through a pneumatic
spring seat to people in need.
Markets: Our business markets are assisted
living homes, rehabilitation centers, and
physical therapy centers. Our customer
markets will consist of baby boomers and
children of people who need mobility
assistance, reaching over 194,395 people in
those age groups; we will be reaching a total
around 3,463,183 people through businesses.

Distribution Channels: We will be using an online channel to reach individual customers through our
website. We will also use B2B selling through direct sales by our sales representatives calling based out of our
Maintland, FL.

Competition: Our main competition is an indoor motorized chair that assists people out of the chair. These
chairs need to be plugged in and are not easily movable. This provides a lot of inconvenience to consumers.
We are the only company who makes outdoor furniture with an assisted seat.

Financial Projections (Unaudited):

2018 2019 2020 2021 2022
Revenue: $2,400,000 $2,800,000 $3,400,000 $3,740,000 $4,114,000

2
 American Elevation Narrative

Elevator Pitch: Imagine your loved one who is frail or recovering from an injury is unable to get up

easily; while you want to help them, you can only do so much. Our company, American Elevation,

assists those with mobility issues by providing a convenient alternative to traditional outdoor

furniture. We have a vision to make outdoor lounging more accessible to those with limited

mobility. Our American made pneumatic spring chair is hand woven using high quality wicker. We

are proud to provide comfort and convenience to people in need. As generations get older, a loss of

muscle reduces the strength to stand and can increase the likelihood of injuries (livescience.com).

Our aim is to prevent that inconvenience with our chair. With this innovative design, now your

loved ones are happy, comfortable, and can enjoy their independence once more. Now, all walks of

life are able to push the boundaries to enjoy outdoor living and experience nature’s beauty.

Product Description: The differentiating factor in our lawn chair is the innovative seat. The seat

incorporates pneumatic springs to lift consumers out of the chair upward to assist them in standing

up. The AE wicker chair is customized with a weather resistant fabric, allowing it to be outdoors.

Competitive Advantage: We are trailblazing the path of a spring assisted outdoor chair; while there

are similar products on the market, none of them offer a chair suitable for outdoor use. The

materials used on our product will be both durable and weather resistant. We will use aluminum that

is resistant to oxidation for the frame and lift spring. Our hand woven wicker chairs provide a

quality unmatched in the modern market.

Value Proposition: The AE-Wicker Chair aims to enhance accessibility for people with difficulty

standing. Our chair provides assistance and comfort for our consumers with a polyester cushion

along with hand-woven wicker around the frame of the chair. This design will increase customer

satisfaction and will lead to more independent living. As a result, this will benefit the businesses that
3
will buy our product. Our high quality standard adds to overall customer satisfaction, thus adding

value to our company.

Business Strategy: At American Elevation our human resources department plans to deliver high

quality service through our friendly sales and customer service representatives, while adequately

going through the hiring process in an efficient and swift manner. Our operations consists of an

assembly line process, considering we are only producing one product. Mass production will

produce large volumes of our chair which is made through handmade welding and wicker weaving.

Our differentiation focus comes from the unique purpose of our chair. The AE wicker chair is made

for the outdoors for the point of making lives easier and more enjoyable. Due to the fact that our

company is introducing a new product within a new market (differentiation), we will use a wide array

of marketing strategies, which includes flyers, brochures, website, newspaper, email, PPC, and

Facebook advertising. Financially, as an S-Corporation, we will be receiving money from the

issuance of stocks as well as from a bank loan. These sources of cash flow will help our company

get on its feet to cover immediate costs incurred.

Business Location: Our headquarters will be based out of the suburban city of Maitland, Florida

due to the high population of elderly moving south. Maitland’s proximity from Orlando is ideal in

the sense that it is not too expensive to operate, but is able to contact large populations of people.

Sources: We are obtaining the pneumatic seat of the chair and the wicker from Shanghai, in order

to cut down costs. Additional materials in the chair will also be obtained from China. If a problem

occurs within the value delivery network, we will get all of our backup resources from distributors in

the US. We will assemble the AE Wicker Chair at our manufacturing plant in Maitland, Florida.

4
Exhibit 1- Organizational Chart

American Elevation Staff 2019

Changes in
Year 1 Year 2 Year 3 Year 4 Year 5
Staff
Manufacturing
15 15 17 18 19
Workers
Sales
6 6 6 7 7
Representatives
Customer
3 3 3 4 5
Representatives

5
6
Exhibit 3 – Market Segmentation Analysis

7
8
Exhibit 5 – Positioning/ Competitive Analysis

We plan to position American Elevation chairs based on specialization and high quality to
give our company a competitive edge. Our manufacturing factory will be based out of Florida,
which will make our shipping cost less extreme when distributing to our target market. We plan to
obtain our lifting seat from China, costing approximately $20 each, then assembling the rest of the
chair at our factory. Some of our primary competitors in the online market include AmeriGlide,
Carex and Brenyth Power Lift Recliner, with their prices ranging anywhere from $220 to $550 range.
Our differentiation focus comes from the unique purpose of our AE Wicker Chair. We are setting
ourselves apart from our competitors through our outdoor material used on the chair as well as the
handwoven aesthetic of the frame, making enjoying the outdoors more accessible. In order to
maximize the quality of our chair, we plan to line the cushion with memory foam along with a
waterproof fabric to cover the cushion. None of our competitors offer the same level of quality that
American Elevation provides. We plan to use that target segmentation to position the AE Wicker
Chair and emphasize the distinguishing features it offers to our advantage when selling to the public.
As a result, the specialization of our industry, superior quality of the outdoor material, pneumatic
seat design, and hand woven wicker differentiates our chair from the competitors.
American Elevation provides men and women with physical impediments with a high quality
assisted outdoor lounge chair. We accomplish this through United States manufacturing, an
integrated lift assist, as well as a lightweight, well-crafted wicker exterior. With this innovative design,
now your loved ones are able to enjoy their independence again. You'll be at ease letting them
outside to experience nature’s beauty once more.
9
Exhibit 6: Marketing Mix
Product/Service Branding
Our value lies in the quality of our product and our focus on customer service and satisfaction. "American
Elevation- Outdoor living made easy" represents the goal we have to create more enjoyable experiences for
those who have, until now, been limited in mobility and independence. We are introducing a new chair that will
change the way people in retirement communities and rehab centers enjoy the outdoors, positioning our brand
as an innovative product that provides a sense of opportunity to our customers.

Pricing
2016 2017 2018 2019 2020
Unit Variable Cost: 97.86 97.86 97.86 97.86 97.86
Retail Price: 400 400 400 400 400
Our "more for more" value proposition comes from our value-based pricing strategy. We have seen a need in
our target market and have strived to set an affordable price for a high quality, hand-made product that we
believe will fulfill this need. Our price reflects the quality of our product as well as the quality of the service we
provide to our customers, and we believe that our price is reflective of the quality of experience that we offer.

Distribution/Location Strategy
We are a manufacturing company so we will be delivering the chairs directly to our consumers. We
will be using freight transportation from YRC Inc. to transport our chair; hence, minimizing our
shipping costs. Further, they are a nationwide company that will be able to provide shipping all
around the US. The dimensions of the chair costs for the shipping cost to be around $50 per chair.
We plan to split the cost between us and the customer; each will pay $25.

Promotional Strategy (in thousands of $)

2018 2019 2020 2021 2022
Total IMC Budget: 117.0 114.0 119.0 119.0 124.0
Facebook Ads 16 16 16 16 19
Google Pay Per Click 84 84 87 87 88
Website Exp. 12 9 9 9 9
Promotional Exp: 5 5 7 7 8
Our promotional strategy is trying to convey a message of helping those with mobility issues back to the
independence they want. We will achieve this by promoting our chair through direct selling and targeting places
where our targets might live. We plan on advertising by reaching our target markets daily via face to face
advertising and internet advertising. By using Google's Pay Per Click advertising, our website will be found when
certain key words are searched. Facebook advertising is another big promotion for us, considering our main
target market- baby boomers use Facebook very frequently (jetscram). Sales representatives’ interactions
include face-to-face marketing for our B2B companies. As part of our test marketing strategy the
representatives will take the chairs as a promotional strategy to the targeted businesses- retirement homes,
nursing homes and lastly physical therapy centers for consumers to interact with the product. (Comp.Adv.
study.com)
# of Salespeople: 6 6 6 7 7
Compensation Method: $31,800 Salary + 3.5% commission. Estimated min. $46,360 per year.
We plan to start with six salespeople and then expand that number after year 3. We are putting a heavy
emphasis on the role of our salespeople to sell the chairs to businesses. Due to the projected increase in sales
each year, we want to increase the number of sales representatives to be able to cover demand.

10
 Exhibit 7 – Flow Chart

For each major quality step:

Quality What is measured? How often? How will you ensure quality?
Step
Q1 The Structure of the Every Chair By inspecting the welds on each frame
Frame
Q2 The lift mechanic Every Chair By testing the chair to make sure it can help lift
& Wicker a person
Q3 Test Entire Chair Every Chair We will have an employee test functionality of
every chair
For each critical failure point:
Failure Brief description How will you How will you recover if this failure occurs?
Point prevent this
failure?
F1 Pneumatic Springs Anti-Corrosion We will throw out the lift before we attach it
Spray to the chair
11
Exhibit 8 - Quality Assurance
Indicate the Why is this dimension important, given your Identify the Quality
Dimensions of industry & target market? Step(s) on the Process
Quality on Flowchart / Service
which you will Blueprint to which this
focus. corresponds.
Special Features The pneumatic mechanism feature allows customers with Wrap cushion in
mobility issues to easily stand up out of a comfortable weather-resistant
water resistant outdoor chair. material/
Attach cushion to lift
Durability American Elevation has the ability to stand outdoor
Wrap frame in
climate. We are using wicker material, weather resistant
wicker/Stress Test
polyester fabric to accommodate the outside weather.
Perceived This is a one of a kind outdoor chair will be perceived as a
Quality pleasant and reliable product that will assist the elderly and Test quality
people with mobility issues in general.
Aesthetics Our chair will be aesthetically pleasing to our customers
because of its hand-woven wicker frame. Our chair’s ease Follow up survey
of use and ability to fit at any size or shape table will
contribute to our customers’ outdoor experience
immensely.
Use the space below to describe any additional Proactive Quality Assurance Plans that are not
connected to a specific activity on your Process Flowchart / Service Blueprint.
Our proactive plan is that while we are wrapping our frame with wicker, the workers will check the welding of
the frame for any imperfections. As well as performing a stress test on the wicker, to check the durability and
its weather tolerance. If they notice something wrong with the frame, then they will take it back to the welders
to fix the issue. B2B consumers will be contacted through our sales representatives and our B2C will be
contacted through customer service representatives.
Describe any reactive quality assurance plans. Include a recovery plan should a customer receive
poor quality goods and/or services.
We plan on having a customer service line to provide customers with assistance if they have any
questions/issues about our product. We will provide the customer with a new chair if it is a manufacturing
defect regarding the spring lift. If a customer receives a defective product, we will send the shipping company
to pick up the defective product and send them a new one immediately.

If you will utilize a quality/process improvement methodology, indicate which:

☐ NA ☐ TQM ☒ Six Sigma ☐ ISO ☒ Benchmarking
☐ Other (specify what):
Note: You will not use all of them; only those with highest relevance.
Provide a specific explanation of how your chosen quality methodology relates to your business
and how it will be applied:
We are making the design of our chair more portable and lightweight. We could improve production by
carefully assessing the assembly line process to cut down time; hence, cut down cost. We are very focused on
customer service and providing a great experience for our customers, that is why we provide a lifetime
warranty for the pneumatic device. We strive to better our service by creating relationships with our customers
through the customer service line so we can better any aspect of the chair that might need improvement. We
will focus on improving our delivery service by cutting down delivery time and expanding our delivery to
Mexico and Canada. In addition, we plan on using the Benchmarking strategy by comparing ourselves to
small-scale outdoor furniture manufacturing companies. We will compare their unit sales, quality requirements
and market growth to our annual reports each year.

12
Exhibit 9 - Inventory, Suppliers, and Distribution

13
 Exhibit 10 – Capacity & Resources

Demand Hours of Capacity Utilization

(per hour) Operation (per hour) (%)

At Start Up 1.44 8 1.65 87%

At the end of Year 1 2.88 8 3.00 96%

At the end of Year 2 3.37 8 3.88 87%

At the end of Year 3 4.09 8 4.85 84%

At the end of Year 4 4.90 8 5.62 87%

At the end of Year 5 5.88 8 6.62 89%

Bottleneck Brief description of How will you manage the bottleneck identified on your Process Map
Bottleneck to ensure you can appropriately serve or supply your customers?

B1 Workers are hand-weaving We plan on adding more workers to the bottleneck each year, that way there
the chair frame in wicker is no blocking during the production process. Currently, there are 15 full
time manufacturing workers, but we will need more after the second year.

Additional resources (beyond your bottleneck) must be appropriately allocated to support operations. Identify which
resources have a significant impact on your capacity at start up and describe why these are appropriate amounts of resources
to start up your organization.

At the start of our company, we have manufacturing workers welding the frames of the chairs, while other workers are
working on hand weaving the wicker. Capacity is able to increase due to the fact that we can add workers to operations on
an as-needed basis. Other raw materials include the seat and the memory foam materials for the seat cushion and back of the
seat. These materials are essential for our start up because they are all need to be incorporated into the chair.

Describe all/any adjustments you will make as resource requirements vary with time. Be specific regarding which key
resources will be adjusted, when and how. If you will make multiple adjustments, explain each adjustment.

Producing more chairs each year, leads to an increase of our need for human capital. We will hire new employees through a background
check, interview process and train them to be able to start working at the beginning of each year, based on demand. We will also increase
our raw materials on hand by ordering more seats, wicker, aluminum, memory foam, etc. to be stocked in our warehouse. Our expansion
in human capital will be able to handle this increase in raw materials to address the increase in orders.
How will you manage seasonality? ☐NA We suspect that our production units will decrease during the colder
months of the year throughout the nation. Managing seasonality will be
secured by effectively maintaining production throughout the entire
year so that during the colder months, inventory will be higher, this will
help during the warmer months when demand is higher.

14
 Exhibit 11a. – Income Statement

American Elevation
Pro Forma Income Statement
5/30 5/30 5/30 5/30 5/30
2018 % 2019 % 2020 % 2021 % 2022 %

Sales Revenue $ 2,400,000 100.00% $ 2,800,000 100.00% $ 3,400,000 100.00% $ 4,080,000 100.00% $ 4,896,000 100.00%
COGS 587,160 24.47% 685,020 24.47% 831,810 24.47% 998,172 24.47% 1,197,806 24.46%
Gross Profit $ 1,812,840 75.54% $ 2,114,980 75.54% $ 2,568,190 75.54% $ 3,081,828 75.54% $ 3,698,194 75.54%

General and Administrative Expenses

Salaries & Wages - includes commission $ 1,250,850 52.12% $ 1,285,700 45.92% $ 1,307,250 38.45% $ 1,406,100 34.46% $ 1,444,660 29.51%
Payroll Tax Expenses 105,641 4.40% 107,497 3.84% 110,716 3.26% 113,197 2.77% 115,293 2.35%
Employee Benefits and Retirement 363,315 15.14% 375,146 13.40% 388,360 11.42% 411,679 10.09% 425,657 8.69%
General Insurance Expense 26,568 1.11% 26,668 0.95% 26,768 0.79% 26,868 0.66% 26,968 0.55%
Depreciation Expense 8,284 0.35% 8,284 0.30% 8,284 0.24% 8,284 0.20% 8,284 0.17%
Manufacturing Rent Expense 50,000 2.08% 50,000 1.79% 50,000 1.47% 50,000 1.23% 50,000 1.02%
Travel, Meals, and Entertainment 10,000 0.42% 10,000 0.36% 10,000 0.29% 10,000 0.25% 10,000 0.20%
Website Expense 12,000 0.50% 9,000 0.32% 9,000 0.26% 9,000 0.22% 9,000 0.18%
Google Pay Per Click Advertising 84,000 3.50% 84,000 3.00% 87,000 2.56% 87,000 2.13% 88,000 1.80%
Facebook Advertising 16,000 0.67% 16,000 0.57% 16,000 0.47% 16,000 0.39% 19,000 0.39%
Promotional Expense 5,000 0.21% 5,000 0.18% 7,000 0.21% 7,000 0.17% 8,000 0.16%
Licenses 500 0.02% 500 0.02% 500 0.01% 500 0.01% 500 0.01%
Office Rent Expense 24,000 1.00% 24,000 0.86% 24,000 0.71% 24,000 0.59% 24,000 0.49%
Office Equipment 21,098 0.88% 21,098 0.75% 21,098 0.62% 21,098 0.52% 21,098 0.43%
Travel Expense 20,000 0.83% 20,000 0.71% 20,000 0.59% 20,000 0.49% 20,000 0.41%
Manufacturing Equipment 61,742 2.57% 61,742 2.21% 61,742 1.82% 61,742 1.51% 61,742 1.26%
Packaging & Shipping Expense 145,766 6.07% 147,523 5.27% 148,730 4.37% 150,182 3.68% 151,094 3.09%
Utilities Expense 20,000 0.83% 20,000 0.71% 20,000 0.59% 20,000 0.49% 20,000 0.41%
Total General & Administrative Expenses $ 2,224,764 92.70% $ 2,272,158 81.15% $ 2,316,448 68.13% $ 2,442,650 59.87% $ 2,503,296 51.13%

Earnings Before Interest and Taxes $ (411,924) -17.16% $ (157,178) -5.61% $ 251,742 7.40% $ 639,178 15.67% $ 1,194,898 24.41%

Interest Expense 33,000 1.38% 27,780 0.99% 22,247 0.65% 16,382 0.40% 10,165 0.21%

Earnings Before Taxes $ (444,924) -18.54% $ (184,958) -6.61% $ 229,495 6.75% $ 622,796 15.26% $ 1,184,734 24.20%

Income Tax Expense 0.00% - 0.00% - 0.00% 0.00% 0.00%

Net Income (Loss) $ (444,924) -18.54% $ (184,958) -6.61% $ 229,495 6.75% $ 622,796 15.26% $ 1,184,734 24.20%

Operational Cash Flow $ (403,640) $ (148,894) $ 260,026 $ 647,462 $ 1,203,182

Free Cash Flow $ (1,730,000) $ 103,432 $ 103,432 $ 103,432 $ 103,432

WACC (Cost of Capital) 7.87%

NPV = $ (1,314,348)
IRR = -46%
MIRR = -35%

Statement of Retained Earnings

Beginning Balance of Retained Earnings $ - $ (444,924) $ (629,882) $ (400,387) $ 222,410

Net Income (Loss) (444,924) (184,958) 229,495 622,796 1,184,734

Dividends to Stockholders - - - -

Ending Retained Earnings $ (444,924) $ (629,882) $ (400,387) $ 222,410 $ 1,407,143

15
Exhibit 11b. - Income Statement Notes

1. Revenues in 2018 are expected to be $2,400,000 based on the sales of 6,000 units. In the

following years, units sold will be 7,000, 8,500, 9,530, and 10,285 respectively. All sales are

based on the selling price of $400.

2. Cost of goods sold is $97.86 per unit. In year one we are planning to produce 6,000 units

and 7,000, 8,500, 9,530, and 10,285 in the following four years.

3. Salaries include bonuses ranging from 6-10% with manufacturing workers getting a $1,000

bonus per year.

4. Commission expense is 3.5% based on each chair sold.

5. Depreciation of the manufacturing machinery and office equipment expenses are computed

using the straight line depreciation method. The manufacturing machinery is projected to

have a 10 year life with no salvage value.

6. Rent expense is based off on location and industry averages

7. Interest on $550,000 bank loan at a rate of 6% per year.

8. No income taxes for S-Corps in Florida, property taxes are included with the rent expense,

and consumers will pay the sales taxes when they buy the products.

16
Exhibit 12a. – Balance Sheet

17
Exhibit 12b. - Balance Sheet Notes

1. No accounts receivable in year 1. In the following years, Accounts Receivable will be

calculated based on 6% of revenue.

2. Inventory is based on manufacturing and office equipment, which will be the same amount

each year

3. Purchased at inception year, and no new equipment and machinery was purchased until after

year 5

4. Accumulated depreciation is the straight line rate multiplied by the number of years that the

equipment is depreciating

5. No long term assets

6. We are purchasing everything from our loan money, which means that we are not paying

through types of accounts payable

7. We are issuing shares of stock valued at a total of $1.3 million. The loan interest rate is 6%;

the loan will be repaid in about 16 years, and we are paying back the loan at a rate of 10%.

18
Exhibit 13a. – Cash Flow Statement

19
Exhibit 13b. - Statement of Cash Flow Notes

1. Depreciation is based off of straight line depreciation with no salvage value and having a 10

year life

2. Based on 6% of sales

3. No cash flow from investing activities

4. Interest payments of our $550,000 loan is paid off 10% each year

5. Ending cash balance becomes the following year’s beginning cash balance

20
Exhibit 14 – Financial Ratios and Analysis

21
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 Meet the Team - Section 6, Team 8

My name is Aaron Bryant and I was born in Chesterfield Virginia. I am a junior

and a Computer Information Systems Major. I recently joined the Association for
Information Systems and enjoy working with computer networks. I love running
and playing ultimate Frisbee in my free time.

My name is Will Furlow and I am from Manassas, VA. I am currently a junior

Finance major. In the future I see myself working for a consulting firm in North
Carolina. In my free time I enjoy scaling up the sides of cliffs and going off-roading
in my Jeep Wrangler.

My name is Kate Lachine, and I am from Williamsburg Virginia. Currently I am a

junior Accounting major working towards a minor in Nonprofit Studies. In my free
time I enjoy hiking and tutoring in lower level math classes.

I am Daniela Nadal, I was born and raised in Peru and moved to the United States
in late 2009. I am currently a junior and a Marketing major with a French Business
minor. I am the marketing chair of the Francophone Club, a member of the
Madison Marketing Association, and I am a Spanish tutor in my free time.

My name is Vicky Rodgers and I am a junior Computer Information Systems major

from Fairfax, Virginia. I hope to get a job in the area of IT Consulting after school,
preferably in the South. In my free time, I enjoy hanging out with my brothers in
Delta Sigma Pi as well as watching Netflix!

My name is Nicole Swindell and I am a junior marketing major from New Jersey. I
want to get involved with sports marketing and advertising and strive to make a
career out of it. In my free time, I enjoy playing soccer and reading classic novels.

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