MGMT 437 California State University Pinnacle Watch Club Paper here are the word documents for the business plan and the business plan my part is (Bader) m

MGMT 437 California State University Pinnacle Watch Club Paper here are the word documents for the business plan and the business plan my part is (Bader) marketing plan and Management Team and Company Structure .chp 6 page 195 you can on chp 6 about the marketing plan and management team and company structure Pinnacle Watch Club
Business Plan
Bader Almuhana
Fahad Alsaqabi
Katharina Amann
Zsigmond Balla
Jordan Verador
Management of Entrepreneurial Enterprises
April 14, 2020
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Section 1: Executive Summary
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•
A roadmap (short overview) for the business plan (1-2 pages
At the beginning of the paper, but written last
Section 2: Industry Analysis (Jordan)
•
•
Describe the industry the business will enter (size, growth rate and sales projections,
success factors, nature of participants, structure, trends, long-term prospects)
Select a target market & know its promising areas/points of vulnerability
Section 3: Company Description (Zsigmond)
•
General description of the company (who you are, what you do, where you’ve been)
o Company description, history
o Mission statement
o Products & services
o Current status
o Legal status and ownership (LLC, S-/C-Corp.)
o Key partnerships
Pinnacle Watch Club (PWC) was founded in 2020 in hopes of making people’s
timepiece dreams a reality. PWC is a membership-based club where members are able to
have access to the world’s greatest luxury watches.
Zsigmond Balla, the founder and CEO of Pinnacle Watch Club, grew up admiring
luxury Swiss Watches. Everything from their immaculate design to their world-class
movements fascinated Zsigmond. After graduating High School, Zsigmond was gifted with a
Swiss watch of his own, a Breitling Transocean. As he became more fascinated in the world
of watches, there was one big hinderance, being able to justify buying more watches.
Visiting Rolex and Hublot boutiques in Beverly Hills became an inspiration. It was not enough
to just walk by the store. He wanted to be able to own and wear one of those iconic
timepieces. With the cheapest Luxury Swiss Watch from Rolex beginning at $5,050, there
was a significant barrier to ownership. He thought to himself, there has to be a way to feel
the ownership of a Luxury Swiss Watch without the large investment. With this thought,
Pinnacle Watch Club was born.
PWC was founded on a simple mission: To make the unimaginable imaginable, one
watch at a time. In a world where time is money, luxury watches often imply the opposite
with their high prices. Ownership of a luxury watch does not have to be that way. At PWC,
“It’s about time.” ™
As soon as a member signs up with PWC, they are introduced to a Watch Concierge
who gets to know each member and their needs. This Watch Concierge will assure that each
member’s timepiece needs will be met. With a wide variety of luxury watch brands including
Rolex, Richard Mille, Patek Philippe, Audemars Piguet, Hublot, and Jacob & Co, there is a
watch for every type of member. Through a new-member fee and monthly installments,
PWC members have access to the world’s greatest timepieces, at a fraction of their price.
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What makes PWC unique from any other watch lending club is our in-store
experience. Pinnacle Watch Clubhouse in Beverly Hills will be the hub of luxury watch
lending. PWC Beverly Hills is the perfect opportunity for guests to truly understand what
watch lending is all about. With much of the watch collection on showcase, anyone can see
what amazing timepieces they could have access to as a member. Members can come in and
meet with a Watch Concierge to try on many types of watches until the perfect timepiece is
found. Often, watch clubs are about more than wearing the best watches. PWC Beverly Hills
will be a perfect place for people to gather to talk watches all while sipping on their favorite
refreshments. With other watch clubs, members must wait for shipping time. Have a
wedding to go to tomorrow? Have an important business meeting tonight? No worries. PWC
Beverly Hills will make sure you have the perfect timepiece to impress all those around you.
PWC is proud to have reached the milestone of an established Business Plan. Our
business plan not only lays the foundation for our online platform, but our physical location,
PWC Beverly Hills. PWC is more than watch lending. It is a community that will bring
together watch gurus from around the world. That is the future of PWC. As more and more
people join PWC, they will have access to our growing watch collection and opportunities for
more Pinnacle Watch Clubhouses.
Pinnacle Watch Club is to be registered as a Limited Liability Corporation. The LLC
best fits the business model of PWC as it will offer all five owners protection as well as the
tax benefits of a partnership. With the watch expertise of founder and CEO Zsigmond Balla,
the management expertise of COO Katharina Amann, the financial expertise of CFO Fahad
Alsaqabi, the marketing experience of CMO Jordan Verador, and the sales experience of CIO
Bader Almuhana, PWC is on the road map to success. As with any organization, leadership is
key. PWC is rooted in experience in and out of the world of watches. Remember, “It’s about
time.” ™
Section 4: Market Analysis (Jordan)
•
Breaks the industry into segments and zeroes in on the specific segment to which the
firm will try to appeal
o Market segmentation & target market selection
o Buyer behavior
o Competitor analysis
o Estimate of the firm’s annual sales and market share
Section 5: The economics of the Business (Zsigmond)
•
Basic logic of how profits are earned and how many units of a business’ profits must
be sold to “break-even”
o Revenue drivers & profit margins
o Fixed and variable costs
o Operating leverage and its implications
o Start-up costs
o Break-even chart & calculations
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Section 6: Marketing Plan (Badar)
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How the business will market and sell its product or service
o Overall marketing strategy
o Product, price, promotion, distribution
o Sales process & tactics
Section 7: Product (or Service) Design and Development Plan (Fahad)
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If you are developing a completely new product or service →focus on status of
development efforts
o Development status and tasks
o Challenges and risks
o Projected development costs
o Proprietary issues (patents, trademarks, copyrights, licenses, brand names)
Section 8: Operations Plans (Fahad)
•
•
How your business will be run and how product/service will be produced
Useful way to illustrate – describe it in terms of “back stage” and “front stage”
o General approach to operations
o Business location
o Facilities and equipment
Section 9: Management Team and Company Structure (Badar)
•
Typically consists of the founder(s) + key management personnel
o Management team
o Board of directors (if applicable)
o Board of advisors (if applicable)
o Company structure
Section 10: Overall Schedule (Katharina)
•
•
To show the major events required to launch the business
In the format of milestones critical to the business’ success
o Incorporating the venture
o Completion of prototype
o Rental of facilities
o Obtaining critical financing
o Starting production
o Obtaining the first sale
With the effective date of April 13th 2020 the Pinnacle Watch Club LLC got registered
as a legal entity in the state of California. Taking this as the official kick-off event the venture
team concentrated on being fast in designing and setting up the webpage getting the frontand backend of the digital product ready. Parallel to that the watches themselves had to be
acquired through an organized and well thought out financial concept and first
conversations regarding insurance issues were conducted. Additionally, the Pinnacle Watch
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Club headquarter with a shopfront got organized that can also serve as a back-up area for
storing the luxurious watches that are typically stored offsite. Set up various prototypes,
continuously completing the product so that the first draft of a minimum viable product, our
App, is ready to be launched. With the launch, valuable feedback from first users and
customers can be acquired that is fed into the feedback loop and helps to continuously
improve the service as well getting to know the customer’s needs better. Pinnacle Watch
Club values loyalty and wants to treat its members the way the wish to be treated. The best
way of getting to know the market, the customer and to build up a culture within the PWC is
to listen to its members.
In order to roll out the improved first version of the product, start to market it more
heavily and obtain the first sales and focus on scaling, the support through critical financing
is sought. The new funds are directly invested into improving the software hiring additional
talents and pushing the product into the market by implementing the planned marketing
strategy. After enough time to monitor usage and obtaining additional feedback from
members has passed the product is supplemented with new service and invested in
enlarging the watch pool customers can choose from.
As of today, with the current resources, talent and passion this whole process is
planned to take up to 7 months, buffer time included.
Overall Schedule
10-Apr-20 10-May-20 9-Jun-20
9-Jul-20
8-Aug-20
7-Sep-20
7-Oct-20
6-Nov-20
6-Dec-20
Incorporating the venture
Set up a website (back- and frontend)
Acquire watches (set up financing structure for purchase; e.g. leasing…
Organize warehousing and shipping facilities (outsource to LSPs)
Launch MVP
Launch MVP and test on first customers, learn, adapt and pivot…
Obtain critical financing by presenting acquired market knowledge
Obtain financing
Tasks duration
Milestone
Launch product and “push” it towards customers (offens marketing…
Launch improved product
Obtain the first sales/subscription
First sale
Improve services, expand offered product range and add services
Section 11: Financial Projections (Katharina)
•
Final section
o Sources and uses of funds statement
o Assumptions sheet
o Pro forma Income Statements
o Pro forma Balance sheets
o Pro Forma cash flows
o Ratio analysis →(we do not have to include it in our project)
Presenting the Business Plan to Investors
• Oral presentation (follow directions, be smooth and well-rehearsed, sharp and not
cluttered slides)
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Questions and Feedback to Expect from Investors (be prepared)
12 Slides (15 minutes)
o Title slide
o Problem
o Solution
o Opportunity and target market
o Technology
o Competition
o Marketing and sales
o Management team
o Financial projections
o Current status
o Financing sought
o Summary
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New Business Concept – Team 1
Pinnacle Watch Club
Product
Pinnacle Watch Club is the premier watch lending club. With the most exquisite watch offerings
including Tag Heuer, Rolex, Cartier, Hublot, Audemar Piguet, Richard Mille, and Jacob & Co,
there is no other watch club that can offer such amazing time-pieces catered to each member.
Once an individual becomes a member, they will be matched with a watch concierge that will
assist them in picking the right time-pieces. In addition, all the watches will be cataloged online
for the benefit of members. There will be a monthly payment package to sign up for three
different tiers: Gold, Platinum, and Pinnacle. As the tier increases, so will the value of the
watches. Furthermore, if a member purchases a higher level tier, they will have access to the tiers
below theirs. The monthly plan includes insurance for the watch which covers damage and theft.
The watch can remain with the member as long as they wish as long as their membership
remains active.
Target Market
Pinnacle Watch Club’s target market would be the middle and lower class business people, the
people who can’t afford to own expensive pieces like the ones that Pinnacle offers. The
consumer group (here referred to as “upper class”) that could afford an expensive watch does not
lie in the centre of our attention, since their interest in renting such a luxury product versus
purchasing and owning it is low. ‘Our aim is to focus on the middle and lower classes, since they
are more likely to be individuals who are trying to climb up the business ladder through pitch
meetings and interviews and are therefore more inclined to become members. Having a nicer and
more expensive watch is a symbol of prestige and rounds off the professional appearance.
Why Pinnacle Watch Club?
With our business model we address the overconsumption but also scarcity problem of today
while helping people with less resources on hand.
Watches are our assets and provide us security through their long term value which can be
liquidized fast. Therefore the financial stability and backing provides us the possibility to serve
our customers with perfectly maintenanced products and the best service. In addition to high
quality, fashionable and exclusive luxury watches, we offer the service of well skilled and
experienced experts who will assist not only with choosing the right watch but also help
introducing our customers to society. We take care of everything from the selection process of
the watch , the maintenance, the financing plan and insurance. The only thing our members and
customers have to do is live in glamour.
Special Feature—No Other Watch Club Does This
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Pinnacle Watch Club charges for a yearly membership that will provide access to choose between
three different tiers. White Gold, Yellow Gold, and Diamond/Platinum. Each tier will have
different qualities and will also cover a high insurance protection for our watches. However, all
tiers will have a Special feature which includes the Watch Concierge that hand pick watches for
each client. Concierges will understand who the client is and what their needs are. They can consult
the clients in matters in the “upper class society” other than watches that typical concierge help
with, including for instance restaurant reservations or activities. This special feature is the quality
of being useful , easy and suitable for clients . This will allocate our client comfort , safe and secure
choice.
Management Team
New venture Pinnacle Watch Club is led by its cofounder and life-long watch connoisseur
Zsigmond Balla who has 10 years of experience as a business entrepreneur. Katharina Amann is
Chief Operating Officer, Fahad Alsaqabi is Chief Financial Officer, Jordan Verador is Chief
Marketing Officer, and Bader Almuhana is Vice President of Sales.

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