Products and services
The Footsteps Fair is a local fair that charges a $5 admission fee. Booths will have their own fee based on their booth position in the rented facility where the fair is being held. Booth fees are $750 for premium, front entrance and corner slots; $500 for a mid-section slot and $200 for booths closer to the back of the facility.
The Footsteps fair will eventually offer personal merchandise such as re-usable tote bags, t-shirts, mugs, slippers, robes, and etc.
Our services are incorporated with the booths. Instead of us providing the services, we provide the organization or people who will provide the services themselves. We're just placing them all in one place for one-stop access. The exhibitor booths will provide training, hands-on classes, and/or products.
The Footsteps Fair competitors are existing baby teaching classes for mothers, diaper brands, other baby fairs, other wholesale baby websites and stores trying to sell the same products for cheap. For example, BabiesRUs, and Buy Buy Baby. Instead, we plan to make them allies by advertising in their ads.
The Footsteps fair will eventually offer personal merchandise such as re-usable tote bags, t-shirts, mugs, slippers, robes, and etc.
Our services are incorporated with the booths. Instead of us providing the services, we provide the organization or people who will provide the services themselves. We're just placing them all in one place for one-stop access. The exhibitor booths will provide training, hands-on classes, and/or products.
The Footsteps Fair competitors are existing baby teaching classes for mothers, diaper brands, other baby fairs, other wholesale baby websites and stores trying to sell the same products for cheap. For example, BabiesRUs, and Buy Buy Baby. Instead, we plan to make them allies by advertising in their ads.
Organization and management
Legal Structure: The Footsteps Fair is a partnership composed of two people: Yasmina Atta-Dosunmu and Derek Little II.
License/Permit: To operate the business, a state business license and registering the name with the Secretary of State is required. As well as, a ground permit to implement our vendor’s booths onto the property. Exhibitors will need to possess a booth license.
Management:
Partners will both:
· approach businesses to be exhibitors
· be sure all advertising is ran each month
· manage website
· give reports to investors
· complete rental contracts
· make new contacts with small businesses
· direct exhibitors and contracted employees at the fair
· welcome attendees
· complete administrative duties; such as collecting exhibitor fees and other financial duties
License/Permit: To operate the business, a state business license and registering the name with the Secretary of State is required. As well as, a ground permit to implement our vendor’s booths onto the property. Exhibitors will need to possess a booth license.
Management:
Partners will both:
· approach businesses to be exhibitors
· be sure all advertising is ran each month
· manage website
· give reports to investors
· complete rental contracts
· make new contacts with small businesses
· direct exhibitors and contracted employees at the fair
· welcome attendees
· complete administrative duties; such as collecting exhibitor fees and other financial duties
Marketing sales strategy
The Footsteps Fair’s target market includes first time mothers, specifically young women in the age of pregnancy. New mothers are always in constant need of diapers, bottles, formula, etc. However, they are often having to buy these products under high prices with smaller amounts of inventory. First time expecting mothers are also always going to pregnancy classes, or something of the sort. These classes can be highly expensive, and some mothers don’t even gain any new information from the experience. Therefore, the need for The Footsteps Fair is in constant need.
The Footsteps Fair’s sale strategies would include contacting and building relationships with local baby product and service businesses; as well as local corporate, well-named stores. Their businesses can benefit from additional advertising through the radio ads that will be ran every month as well as making them a sponsor on our Facebook page.
To market to attendees, we would advertise locally and in the big named store ads and through the radio ad. According to research, the majority of first time mothers often spend their time in doctor's offices and hospitals. Parts of our advertising will be based on these demographics so we make sure those offices and facilities are informed of the fair
The Footsteps Fair’s sale strategies would include contacting and building relationships with local baby product and service businesses; as well as local corporate, well-named stores. Their businesses can benefit from additional advertising through the radio ads that will be ran every month as well as making them a sponsor on our Facebook page.
To market to attendees, we would advertise locally and in the big named store ads and through the radio ad. According to research, the majority of first time mothers often spend their time in doctor's offices and hospitals. Parts of our advertising will be based on these demographics so we make sure those offices and facilities are informed of the fair
Financial Management
Start Up Expenditures and Investment:
One-month's rent $8,000
Tickets/Wristbands $ 100
Advertising $1,000
Labor (contracted, temporary labor) $1,540
Printer $ 200
Salaries (for partners) $6,000
Total Start-Up Expenditures $16,840
Emergency fund $1,580
Reserve for fixed expenses $1,580
Capital investment needed $20,000
Projected Yearly Income:
Selling price per ticket: $5 x 5000 tickets/year $ 25,000
Exhibitor booths sold: 500/year $247,000
180 x $750 = 135,000
160 x $500= 80,000
160 x $200= 32,000
Total Sales Projected $272,000
Variable Expenses (rent, labor, printing) $95,400
Fixed Expenses (salaries, advertising) $68,100
Total Expenses -$163,500
Pretax Profit $108,500
Pretax Profit x Taxes (15%) -$ 16,275
Net Profit $ 92,225
One-month's rent $8,000
Tickets/Wristbands $ 100
Advertising $1,000
Labor (contracted, temporary labor) $1,540
Printer $ 200
Salaries (for partners) $6,000
Total Start-Up Expenditures $16,840
Emergency fund $1,580
Reserve for fixed expenses $1,580
Capital investment needed $20,000
Projected Yearly Income:
Selling price per ticket: $5 x 5000 tickets/year $ 25,000
Exhibitor booths sold: 500/year $247,000
180 x $750 = 135,000
160 x $500= 80,000
160 x $200= 32,000
Total Sales Projected $272,000
Variable Expenses (rent, labor, printing) $95,400
Fixed Expenses (salaries, advertising) $68,100
Total Expenses -$163,500
Pretax Profit $108,500
Pretax Profit x Taxes (15%) -$ 16,275
Net Profit $ 92,225