New Business Semi-Finalists M-Z
STUDENT NANNY CO.
MealPlan is an online healthy living and diet destination offering services to those looking for a convenient way to plan for meals. MealPlan offers customized meal plans, recipes, grocery shopping lists, and exclusive coupons to its paying members. MealPlan offers 3 personalized online programs including plans for families, singles, and dieters. Members complete a personal profile questionnaire to determine how to best custom tailor meal plans for their unique needs.
MealPlan's revenue model is a blend of:
Membership fees: Consumers are charged annual subscription fee for MealPlan's services.
CPM: Advertisements are charged for every thousand impressions that it gets on the MealPlan Web site.
Our main target segment is couples with children. Families represented 23% of US households in 2005. We will also make efforts to target the growing group of consumers with weight loss concerns. Families are much less sensitive to branded products and look more for low cost economy goods. Most of the shopping is done in local super/hypermarkets.
MealPlan is directly competing in the digital marketplace industry and indirectly competing in the weight loss and nutrition industry. With more than 70% of Americans using the Internet on a daily basis, the digital marketplace is growing five to six times as fast as the overall economy, creating opportunities for businesses. According to Gallup surveys, approximately 62 million people in the United States were on a diet during 2006. Approximately 6 million participated in commercial weight loss programs and 49 million conducted some form of self-directed diet.
Cost: More than half of couples with children consistently shop for bargains and see promotional coupons as an important shopping aid. These households spend an average of $125-$149 on groceries a week. MealPlan offers cost conscious consumers coupons and promotions to cut costs on groceries.
Convenience: Consumers are currently in a "cash-rich, time-poor" mindset. People spend less time on domestic tasks, choosing instead the most convenient options available. MealPlan offers grocery lists, recipes, and meal plans in a convenient, easy to access form.
Health: Due to obesity and rising rates of cancer, health concerns are growing rapidly. MealPlan provides USDA dietary guideline based plans for healthy eating and/or weight loss. MealPlan helps people make smart choices from food groups.
Stevi Raab began her career as an entrepreneur at age 7, by selling her 2nd grade classmate's art projects on the back of the school bus. Since then, Stevi has experience working with small business start-ups including advertising and tax firms. Stevi will earn a Bachelor's in Business Administration in Business Management with a concentration in Entrepreneurship in 2008. In addition to her academic achievements, Stevi is an active member and leader in the Pace community.
ProfessionalsOnCall establishes the virtual platform for a web-based referral trading system. There are two tiers of customers in this model: Core customers are independent professionals in the network; our pitch is a business-to-business referral generation sales model. These customers generate revenue for ProfessionalsOnCall. Business-to-Customer relationships create added value for network participants; customers shop for professional services through the ProfessionalsOnCall webpage and generate revenue for members.
The primary B-B value of ProfessionalsOnCall is predicated on a growing network of professionals who generate referrals for each other; this is not a social network. Targeted B-B Market Segments include: (1) Self-employed, independent professionals in referral based industries, (2) Full-time professionals who consult and sell services part-time. Initial customers (network members) will be solicited from the founder's current business relationships. Subsequent customers will be solicited through direct contact and direct mail with follow-up phone call.
The goal of B-C relationships will be to drive traffic to network members' services for consultation and sale. The customer experience will start with a home page listing a directory of services available in the network (financial, legal, business services, technical, personal, etc.). Clicking on any category will direct the customer to the appropriate professional's page.
Initial revenues will be generated through membership fees, broken out as follows:
Each network member will pay $50 each month in membership fees
By sending three referrals to others in the network, a member will receive a $15 Referral Bonus, credited towards their monthly membership fees.
By introducing a new member to the network, a member will receive a $20 Award, credited towards their monthly membership fees.
Expectations are that long-term members will pay $35 each month for this service. Revenues in later stages will be supplemented by online advertising. End of year membership and net income is forecasted to be 135 members and $13,000 for year one, and 305 members and $72,000 in year two. Start-up capital will be from the founder's savings, and the business is expected to break-even after 11 months.
Direct competition will be from existing online networks, yellow pages and classified directories, and established professional networks and business relationships. Sustainability will be predicated on the network's ability to (1) generate leads and revenues for network members and to (2) grow in size.
Dennis Brady holds a BS in Mechanical and a BA in Economics from the University at Buffalo, as well as an MBA in Entrepreneurial Management from Pace University. He currently works full-time for Con Edison as a Senior Analyst, and works part-time at Centennial Funding Group as a Mortgage Loan Officer. In his part-time occupation, Mr. Brady's primary goal has been to learn the model in order to build a business that exploits a weakness. Experience taught him that referrals drive success, especially in financial sales, and especially for new employees. The ProfessionalsOnCall model is meant to capitalize on, and satisfy, independent professionals' need for referrals.
STUDENT NANNY CO.
STUDENT NANNY CO. is a revolutionary new company devoted to the ever-changing needs of today's students applying to higher education and those currently in college. You may even consider it as outsourcing a secretary for the student population. Students today are overwhelmed and overburdened with intense responsibilities unlike those of generations past and during the most crucial period in their lives, where mistakes could mean costly consequences; they are required to have immaculate results on tedious tasks. STUDENT NANNY CO. takes out the emotional aspect of these processes and handles any and all administrative needs of the student. This includes taking care of the entire application process (excluding writing the personal essay, but will proofread them as a service) and presenting the student with neat prepackaged, organized and complete applications (including postage) that they can simply add their essays and checks to and ship out (or if the student would prefer to use internet applications, they will be sent out and provided with an extra written copy for their own comfort).
Each student will be assigned a "NANNY" who will take care of his or her needs every step of the way. Students may request simply to have their applications filled out, or have thank you cards sent to recommenders and those schools where interviews were granted or have specific itemized calendars made for them with daily e-mail reminders (or texts) of important upcoming dates. Too many times students have been too late or made an error in their application (i.e. saying how much they love Columbia University in their essay and sending it accidentally to NYU) because of the emotions and stress involved in this process. Why should students WASTE supplies when they only need a few of all the supplies that they will purchase? Why have yet another thing to worry about when you should be concentrating on your studies? Why deal with this headache when you can have someone take care of it for you? WHY CALL STUDENT NANNY? ...Because you already have enough to worry about!
*STUDENT NANNY and Logo are trademarked by USPTO
Zarina Burbacki was born 22 years ago in Brooklyn, NY. Zarina is the third and youngest daughter of two very hardworking parents whose tenacity and work ethic have driven her to value education above all other virtues. Zarina graduated Hofstra University in January 2007 in three and a half years, with a major in Political Science and Foreign Language. It was during her application process to law school where she came up with the idea of STUDENT NANNY because as she was extremely frustrated with the tediousness of the process, along with studying for an impossible exam and maintaining a high GPA, she was sure there were other students experiencing the same frustration. STUDENT NANNY was borne from this frustration, aiming to give students a way to work around the stresses of these times. Currently, she is trying to create a Web site for the venture and find investment partners who share her vision. Confident in her extensive research that there is a market for this service, she is also in the initial stage of marketing and advertising for this new venture. Zarina also speaks four languages and enjoys music and the performing arts in her spare time.