Describe the progress you've made this semester on your genious hour project.
Our progress for Year Round Sports llc. includes a variety of different business developments including the design and production of a professional business logo. Additionally, we have broadened our market versatility to a variety of different test subjects including not only the community youth but also middle aged and senior clients. Our marketing strategy includes a mixture of different techniques including flyers, social media, and word of mouth. From the studies and surveys we've conducted, our projected target market will consist majorly of the community youth. We've concluded through thoroughly analyzed statistics that our because of our target price and market, plus the demographics of our town and surrounding area, that our projected net income will most surely surpass our overhead and expenses. This being said, I'm very confident that our profit for the next quarter will not only allow us to increase our salary, but give us the flexibility to reinvest those profits for further expansion.
What is the most challenging aspect of your project so far?
The most challenging aspect so far has been the difficulty we have had raising capital. We have considered many different strategies for funding including taking out loans, paying out of pocket, giving up equity in our company for funding through a private investor, and have even considered using crowdfunding if need be. Although we have a rock solid business plan, and outstanding projected numbers, it is still a very large task at hand convincing banks and private investors to invest in Year Round Sports llc. That being said, I feel that if we can find the resources for funding, Year Round Sports llc. will be a phenomenal business and will be a great investment for anyone who is interested.
Our progress for Year Round Sports llc. includes a variety of different business developments including the design and production of a professional business logo. Additionally, we have broadened our market versatility to a variety of different test subjects including not only the community youth but also middle aged and senior clients. Our marketing strategy includes a mixture of different techniques including flyers, social media, and word of mouth. From the studies and surveys we've conducted, our projected target market will consist majorly of the community youth. We've concluded through thoroughly analyzed statistics that our because of our target price and market, plus the demographics of our town and surrounding area, that our projected net income will most surely surpass our overhead and expenses. This being said, I'm very confident that our profit for the next quarter will not only allow us to increase our salary, but give us the flexibility to reinvest those profits for further expansion.
What is the most challenging aspect of your project so far?
The most challenging aspect so far has been the difficulty we have had raising capital. We have considered many different strategies for funding including taking out loans, paying out of pocket, giving up equity in our company for funding through a private investor, and have even considered using crowdfunding if need be. Although we have a rock solid business plan, and outstanding projected numbers, it is still a very large task at hand convincing banks and private investors to invest in Year Round Sports llc. That being said, I feel that if we can find the resources for funding, Year Round Sports llc. will be a phenomenal business and will be a great investment for anyone who is interested.