Award Winning Jam
Transcript: Implementation Award Winning Jam Company Presented by: Trish Wright, Kristyn Miller, Kelly Burns and William Mendieta Company was created by CEO, Trish Wright, soon after winning first place at the local state fair. With a rise in Celiac Disease, customer need for gluten free products are in demand. Award Winning Jam is both organic and gluten free. In the United States, over 3 million people are affected by this disease. Ingredients are from local farms; no artificial colors or ingredients are added. Jams can be sweet or savory The need for a local jam with the above benefits has proven to be a customer favorite. Distribution Whole Foods - Slotting fee for shelf space Sprouts - slotting fee for shelf space Website Implement an additional feature - send your wedding guests home with a jar of Award Winning Jam. Petite 2.5 ounce jars are available for $4.00 as a custom order for your event. Expansion can add stress and take away from quality family time (Nechako). Provoking competitors for shelf space. Growing too fast; not able to keep up with orders even with all hands on deck. Vision: Award Winning Jam focuses our business around organic, healthy and delicious jam which supports the power of family mealtime. Mission: Award Winning Jam provides consumers with jam to be part of their everyday meals, snacks shared with friends, and family celebrations. It is through these times that connections are made, relationships are nurtured, meaningful traditions are built, and creating lasting bonds with those most special to each of us. Award Winning Jam recognizes and respects the power of family coming together through meals and food shared. Quick Review Risks Huffstutter, P.J. (2010, June 9) Economic Slump Stirs up Homemade Preserves Industry, Los Angeles Times, Retrieved from http://articles.latimes.com/2010/jun/09/business/la-fi-preserves-20100609 Nechako, Community futures, Risk of expansion http://www.cf-sn.ca/business/business_expansion/expansion_risks.php RBC Royal Bank. (1995-2014). Retrieved from Business Resources: http://www.rbcroyalbank.com/RBC:THeaNo71JscAA7Emh@o/busexpanding/risksrewards/be_comprisk.html Schoenberger, C.(2000, June 12) Ca-Ching!, Forbes, Retrieved from http://www.forbes.com/forbes/2000/0612/6514084a.html Strom, S.(2014, February 17) A Big Bet on Gluten-Free, New York Times, Retrieved from http://www.nytimes.com/2014/02/18/business/food-industry-wagers-big-on-gluten-free.html?_r=0# The University of Chicago Celiac Disease Center. (n.d.). Retrieved from Celiac Disease Facts and Figures: http://www.uchospitals.edu/pdf/uch_007937.pdf Within 2 to 3 weeks- Have self space secured in both Sprouts and Whole Foods; including product placement. Complete first set of orders (6) for wedding favors. Within 3 months - Complete first quarter of sales. Determine opportunity for growth/improvement as needed (product placement, website, consumer options available specifically for wedding favors). Within 3 to 12 months - Continue to track quarterly sales (ensuring goal of 8,000 sold). Manage cannery/space available to maintain quality product. Track growth and monthly quota to staff and produce enough product to fulfill need. One year plus Consider expanding market to additional stores/locations. About Our Jam Budgeting Contingencies Get additional vendors/suppliers if demands aren't met to get product to shelves. Start looking for additional space if the business grows beyond the cannery. Be willing to cut back if Award winning Jam grows too quickly and allow it to grow gradually, reducing stress and preventing poor products or service. Vision and Mission Slotting fee for shelf space at Sprouts and Whole Foods are each $5,000. Award Winning Jam projects selling 8,000 jars a quarter. Based on the stores data of how many jars are sold a month Selling wedding favors for $4.00 a jar. Costs $1.50 to make each 2.5 ounce jar. This includes jam, jar, ribbon, label, advertising and shipping. 6 wedding orders, totaling $4,800, need to be completed by 7/4/2014. Our jams are produced in a cannery that abides by the FDA standards to certify as a gluten free organization. Technology and staff are in place to test for signs of gluten on a weekly basis to help prevent cross contamination. Research shows that the gluten free market is a 10.5 billion dollar industry and has a high potential market. Business model plan is to continue to be known as a local business, with opportunity to expand and get our product to all potential consumers - country wide. Homemade jam companies costs can be low. Even in tough times, consumers still seek out comfort foods. (Huffstutter, 2010) Timeline Reference
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