Section 3Team 8

Fall 2014

Business PlanBusiness Name: EnviroLite Business Idea: Hotel Key Card System

Team Members:Email Address:

Brittany Boyer ________________________________boyerbc@dukes.jmu.edu

Samir Desai ________________________________desaisg@dukes.jmu.edu

Kayla Gibbs ________________________________gibbsks@dukes.jmu.edu

Taylor Lewis ________________________________lewis2tr@dukes.jmu.edu

Tom O’Sullivan ________________________________osullitd@dukes.jmu.edu

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Patrick Ryan ________________________________ryanpg@dukes.jmu.edu

Jeff Thompson ________________________________thomp6jm@dukes.jmu.edu

Table of Contents Page Number

Executive Summary 3Product Description 4Business Description 4-5Marketing 5-8

Mission & Vision Statement 5Competitive Advantage 5Industry Analysis 5Competitor Analysis 5-6Target Market Analysis 6Positioning 6Perceptual Maps Descriptions 6-7Pricing Strategy 7Branding Strategy 7Promotion Strategy 8Integration Strategy 8Product Strategy 8Distribution Strategy 8

Operations 9-12Location 9Outsourcing 9Range of Distribution 9Operational Strategy 9Inventory Management 9-10Capacity Planning 10Operations Process 11Proactive Quality Assurance Plan 11-12

Management 12-14Porter’s Five Forces 12Triple Bottom Line 12-13Staffing 13Job Descriptions 13-14

Financials 14-15Conclusion 15

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Addenda 15-17Financial Statements 17-20Financial Notes 21Bibliography 22-25

Executive SummaryEnviroLiteJeffrey Thompson1075 American Pacific, Henderson NV 89074Phone: (703)-254-3741 Fax: noneE-mail: thomp6jm@dukes.jmu.edu Web Address: www.enviroliteco.com

Management:Co-owners: Brittany Boyer

Samir DesaiKayla GibbsTaylor LewisTom O’SullivanPatrick RyanJeff Thompson

Industry: Hospitality

Number of Employees: 8

Amount of Financing Sought: $260,000

Current Investors: 5% Bank Loan-$14,000 at 8%37% Co Founders-$96,000 58% Outside Investors-$150,000

Use of Funds: Purchase of building, plant and equipment, initial inventory, initial salaries.

Business Description: EnviroLite, an S-Corporation, is a distributor of customizable hotel key card systems. Located at 1075 American Pacific, Henderson NV 89074. Expected revenues of $1,350,000 in sales for four large and eight medium hotels by the end of the second year.

Products/Services: EC-83 Series has a limited customization factor for customers. EC-83 is sold at $30,000 for a small hotel, $90,000 medium, $150,000 large, and $300,000 mega. EC-83LX is sold at $31,500 for a small hotel, $94,500 medium, $157,500 large, and $315,000 mega.

Company Background: Start-up

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Competitive Advantage: EnviroLite is the first company in the continental US to provide a customizable line of energy efficient hotel key cards.

Markets: Hotels small (<100 rooms), medium (101-300), large (301-1000),

and mega (1000+). Market size differentiates per city* and the growth rate from year one to year two is 50%. Market share is approximately six medium and two large hotels. *Refer to forecast

Distribution Channels: EnviroLite uses our sales reps to process and finalize sales. Once the orders are processed, they are sent out to customers via Jet Delivery. This is covered in our initial price.

Competition: Direct competition is Entergize. Indirect competition includes CFLs/LEDs and motion sensors.

Financial Projections (Unaudited):2015 2016 2017 2018 2019

Revenue: $855 $1,359 $2,201 $3,012$4,457 (dollars in thousands)

EBIT: -$97 $179 $306 $464 $1,027 (dollars in thousands)

Product Description: “The Hotel and Tourism Industry spends on average $2,196 on electricity annually per room” (Sylvania, 2013). EnviroLite provides products that reduce energy consumption and costs in unoccupied hotel rooms. The EC-83 Series activates the electrical circuits in a room when a card is inserted into the device. EnviroLite differentiates itself from competitors by offering a customizable line of engraved products, allowing for personalization. We produce two variations of the EC-83 Series; the EC-83 and the EC-83LX. The EC-83 has a plastic shell covering and is better suited for economical hotels. The EC-83LX consists of a glass faceplate and metal shell, appealing to luxury hotels. Each device has an LED strip which stays on until the card is inserted for use. The EC-83 Series technology “reduces the electricity consumption in guest rooms by 20 to 30%” (Hotel Energy Solutions, n.d.). Lighting constitutes 57% of all electricity usage in a typical hotel room (Business Energy Advisor, 2014). EnviroLite saves hotels $250 - $352* annually per room and the payback is approximated to be 12 months for the EC-83 and 13 months for the EC-83LX. With energy costs on

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the rise and a rapidly growing environmental movement, our product is a must have for hotels who want to stay ahead of the competition.Business Description: EnviroLite is a startup company based in Henderson, Nevada. Customization, operations, and delivery will take place at our headquarters, 1075 American Pacific Henderson, NV 89074. EnviroLite will function as an S-Corporation. Conducting business in Nevada has many benefits including state income tax exemptions and a potentially large market share. EnviroLite will operate as a B2B. For the EC-83, EnviroLite will charge $30,000 for small hotels, $90,000 for medium, $150,000 for large, and $300,000 for mega. We will markup the EC-83LX price by 5% and charge $31,500 for small hotels, $94,500 for medium, $157,500 for large, and $315,000 for mega (explained in pricing strategy). Our components will be shipped from our manufacturer GTD IOT Technology Co. in Shenzhen, China. This company will ship from Shenzhen to Los Angeles, California via Amid-Logistics through sea freight. (Amid-Logistics, 2011). The components will then be shipped from Los Angeles to our headquarters via Jet Delivery (Jet Delivery, 2014). EnviroLite will employ sales representatives who will directly sell to clients. We will distribute final products via Jet Delivery to the clients’ location (Jet Delivery, 2014). EnviroLite will subcontract the installations to companies near our

clients’ location. For example, we would subcontract the installations to Vegas Pro Electrical Services for projects in Las Vegas (Vegas Pro, 2011). In year one, we will consist of eight full time employees (Figure 1). EnviroLite will purchase two Zing 16-30 laser engravers to complete customization. (Pricelist, 2014). EnviroLite will sell in Nevada in year one and then expand to California in year two. We plan to be in business throughout the West Coast in year three and expand nationally in years four and five. EnviroLite’s fast growth and expansion eliminates the risk of being overwhelmed by a more aggressive competitor.

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*Hotels use approximately $2,196 annually for electricity costs. 57% of the costs are a result of lighting. The EC-83 Series is proven to reduce consumption by 20-30% which] equals $250-$352. [2196*.57] x [.2]= $250 [2196*.57] x [.3]= $352

MarketingMission Statement: EnviroLite will provide eco-friendly energy solutions to reduce the carbon footprint and operational costs in the hotel industry. Vision Statement: EnviroLite aspires to revolutionize the hotel industry by providing ecofriendly-technologies that are financially beneficial to customers. Competitive Advantage: EnviroLite’s competitive advantage is being the only company in the continental US to provide a customizable key card system for hotels. The lagging behind of the US industry in adopting these devices will provide our company with a strong initial benefit. Customization allows EnviroLite to target all hotels by providing an appearance of the device that will coincide with the hotels culture. Outsourcing allows us to sell the EC-83 Series for a cheaper price than manufacturing the devices ourselves. Industry Analysis: This past year, the hotel industry generated $269 billion in exports and contributed 8.5% of total GDP (World Travel and Tourism, 2014). “[Nevada] doesn’t collect corporate taxes, franchise, capital gains or inventory taxes” which contributes to the 12.6% increase in business growth since 2012 (Small Business, 2011). Due to increasing energy costs and new environmental regulations, the hotel industry recently made an effort to go green (Roth, 2009). The EC-83 Series makes this possible in a simple, convenient, and reliable way by cutting electricity usage by 20-30% (Hotel Energy Solutions, n.d.). “The hospitality industry is acknowledging the long term benefits to be reaped in terms of reduced maintenance and energy savings.” Furthermore, “with technology constantly improving and becoming cost effective, initiatives that seemed too expensive… are now within reach of most hotels.” (Hotels Going the Green Way, 2014). Fitra Nisa claims that “the certification of so called ‘GreenStandards’ also became one of the main aims to attract consumers” (Nisa, 2013). Travel websites, such as TripAdvisor, advertise hotels with green amenities, proving that going green is an element consumers

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consider when traveling (Green Leaders, n.d.). EnviroLite has observed these trends and provided the EC-83 Series to meet the demand for hotels who wish to cut operating costs and attract green-travelers.Competitor Analysis: While this technology is widespread in other parts of the world, EnviroLite has limited competitors within the US. EnviroLite considers a company named Entergize a direct competitor because they utilize a similar technology base to provide energy efficient products to hotels. While Entergize also sells a hotel key card device, we believe EnviroLite will be more successful for multiple reasons. For example, Entergize capitalizes on thermostats and sells multiple products. Since EnviroLite only sells the EC-83 Series, we will be more successful due to our focus. EnviroLite also customizes our products, something that Entergize does not offer. Our indirect competitors are primarily motion sensors and nontraditional lighting. While motion sensors are cost efficient, they are inconvenient for guests. Nontraditional lighting, such as compact fluorescent lamps (CFLs) and light emitting diodes (LEDs) “typically use 25%-80% less energy than traditional incandescent lights” (U.S. Department of Energy, 2014). The most expensive LED lights have a “useful life of up to 25,000 hours,” which is a lifetime of approximately 4.5 years if ran for 16 hours a day, seven days a week (U.S. Department of Energy, 2014). The EC-83 Series needs to be replaced every 100,000 uses, lasting approximately 11 years (assuming used 25 times a day); over double the time of LEDs life (Liang, 2014). Implementing LED lights in a typical hotel room would cost hotels $300-$900 per room (U Save LED, 2014). The EC-83 Series would be more cost efficient in the long term. CFLs cost around $1.25 per bulb, and last roughly a third of the time compared to the EC-83 Series (Energy Saving Bulbs, 2013). The EC-83 Series can be used in conjunction with LEDs and CFLs; however, lights can still be left on in unoccupied rooms, resulting in wasted costs.Target Market Analysis: EnviroLite is targeting hotels of all sizes. We have classified these sizes as small having 100 rooms or less, medium with

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101-300 rooms, large with 301-1,000 rooms, and mega with over 1,000 rooms. This allows us to target all hotels and provides for easier expansion in future years. We will target hotels in Nevada during our first year of operation with most of our business coming from within 500 miles of our headquarters. This span will include cities such as Henderson, Las Vegas, Reno, Los Angeles, San Diego, Carson City, and Phoenix. Most of these areas are tourist attractions, which provides us with success and large market share. Our target will remain constant throughout all years of operation, with the addition of expanding to California in our second year, the West Coast in our third year, and nationally in our fourth and fifth years of operations.Positioning: EnviroLite supplies hotels with an electronic key card device that reduces electricity consumption, which correlates with lower operational costs. The EC-83 Series allows hotels to market themselves as a green company and pleases guests who value eco-friendly technology.Indirect Perceptual Map: Refer to figure 2

Material Cost per room--Based upon how many LEDs/CFLs & EC-83 Series are required per room; assuming a two bedroom size with four small lamps, two tall lamps, and two panel bulbs. [(Units required * Unit price) = Material Cost]. Only one EC-83 Series is required per room.Material Life Span—LEDs/CFLs are based on annual usage. EC-83 Series lifespan is 100,000 uses, lasting approximately 11 years (assuming used 25 times a day) (Liang, 2014). Motion sensors have a lifespan of 6 years at a cost of approximately $42 (LightGuide, 2013) (AutomationSource, 2014).Direct Perceptual Map: Refer to figure 3

Customization --EnviroLite offers two customizable products; Entergize offers one standard option.Multi vs. Single Product Focus--EnviroLite utilizes a single product focus, allowing us to create the most efficient product possible. Entergize offers multiple products, with a primary focus on thermostats. Our focus on the EC-83 Series allows us to specialize and cater to our customers’ needs.

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Pricing Strategy: The EC-83 Series will be offered in two models and will be sold in quantity discounts. EnviroLite will charge four different prices for four different size hotels. Small hotels will consist of 100 hotels rooms or less, medium hotels are 101-300 rooms, large hotels are 301-1,000 rooms, and mega hotels are over 1,000 rooms. The EC-83 is cheaper due to the exterior housing being composed of plastic, appealing to more economical hotels. The EC-83LX is composed of a glass exterior housing with a metal frame and will appeal to higher-end hotels. Our prices are partially dependent on the cost of installation, which is approximately $100 per unit (Sachs, 2004). The rest of the cost includes shipping, manufacturing, and customization. For the EC-83, EnviroLite will charge $30,000 ($300*100 units) for small hotels, $90,000 ($300*300 units) for medium hotels, $150,000 ($300*500 units) for large hotels, and $300,000($300*1,000 units) for mega hotels. The payback period is one year for this product. $300 was chosen because it has average savings of $250 - $352 annually per room. The EC-83LX will have a 5% markup cost since it is a more elegant product. Therefore, EnviroLite will charge $31,500 ($30,00*1.05) for small hotels, $94,500 for medium, $157,500 for large, and $315,000 for mega hotels. Since the 5% markup is not a large incremental cost and the payback period is one month longer, we expect most hotels to buy the EC-83LX over the EC-83 since it looks nicer at only a slightly higher cost. The EC-83 Series will be attractive to hotels because the investment pales in comparison to the potential savings offered. Branding Strategy: EnviroLite will utilize a multiproduct branding strategy. We will use “EC-83” in both product names and implement price lining to show the varying quality levels. These strategies differentiate our products, however, we are branding “EnviroLite” rather than our product names. We plan on making our logo and name recognizable through our promotional strategy. Our brand promise aligns with our positioning statement: providing eco-friendly technology that lowers energy consumption. EnviroLite’s logo and name will become synonymous with our

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advantageous product. We differentiate ourselves through customization, which helps build our brand. Promotional Strategy: EnviroLite’s goals are to spark interest, build relationships, and capitalize on sales with customers. Within these goals, our top priority is to finalize sales. This will be accomplished by using various vehicles of promotion including magazines, direct emails, attending popular conferences, acquiring an informational website, and having effective sales representatives. Promoting through magazines allows us to advertise and hopefully receive positive references. We will focus on the hotel industry through magazines such as “Lodging Magazine” and “Hotel Business Magazine.” Informational emails will allow us to acquire interest and spread knowledge. We will attend hospitality conferences, allowing EnviroLite to expand across the industry. Our informational website will provide information about the EC-83 Series along with sales reps contact information. Our sales reps will directly go to our targeted customers to explain and demonstrate our product. According to Judith Zimmerman, “if a product has a high unit value and requires a demonstration, then personal selling is the best vehicle for promotion” (Zimmerman, 2014). *Monthly promotional budget is located in the addendum as figure 4. 5 year promotional budget is located in the addendum as figure 5.

Integration Strategy: Integrating all of our promotional strategies ensures that EnviroLite reaches all customers. Attending conferences and utilizing magazine articles provides us with the opportunity to spread information and gain interest. The informational emails will refresh the information with all potential customers. The website provides any informational content that a customer needs, along with contact information. Sales representatives will capture and finalize sales. Product Strategy: EnviroLite will succeed due to our focus on customized hotel key devices. CFLs/LEDs are complementary products to the EC-83 Series but our product has a longer life and is less expensive in the long run. Motion sensors are substitute products, but are very inconvenient for

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guests. The size of our product is 86 x 86 x 40 mm, and each unit will be individually packaged with its components. EnviroLite will put 100 units in a large brown rectangular cardboard box with cushioning. The boxes will have EnviroLite’s logo on it. Since EnviroLite is B2B, aesthetics are not as important for our packaging. We are more concerned with getting our products safely delivered. Distribution Strategy: EnviroLite distributes via indirect channel, consisting of GTD IOT sending products to us which we will then distribute directly to consumers. Our sales representatives directly sell and distribute our products to customers. Sales reps allow companies to “control pricing and establish direct relationships with the customer.” (Marketing Donut, 2014) Since our channel consists of sales reps, we will employee multiple, allowing us to reach numerous areas and focus on customer satisfaction and requests. EnviroLite will ship the desired products to the customer via Jet Delivery once a sale is made.

OperationsLocation: Our headquarters will be located at 1075 American Pacific, Henderson, NV 89074 containing 5,336 square feet. This space provides us close access to McCarran International Airport, as well as close proximity to i-15. We will lease this property for $2,614 a month (LoopNet, 2014).Outsourcing: EnviroLite will purchase both cardholder units from GTD IOT Technology Co. located in Shenzhen, China. GTD IOT specializes in producing these products for the hotel industry. GTD IOT provides the device we need in different models and colors, allowing client customization. GTD IOT allows us to purchase quality devices inexpensively in bulk. EnviroLite compared GTD IOT to other Chinese manufacturers and found that the other products were inferior in quality and more expensive. The three items we will purchase from GTD IOT are the G3 CLE, G12 CTE, and B86. The G3 CLE will be used in the EC-83 and costs $5 per unit. The G12 CTE will be the main component in the EC-83LX and costs $8.60 per unit. EnviroLite will purchase the B86 mounting box for the G3 CLE which

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will cost $0.50 a unit. Our components will be shipped from Shenzhen to Los Angeles, California via Amid-Logistics through sea freight. (Amid-Logistics, 2011). The components will then be shipped from Los Angeles to our headquarters via Jet Delivery (Jet Delivery, 2014). We plan to subcontract the installation of our systems to external electrician firms within a 50 mile radius of our targeted area. EnviroLite will then distribute final products via Jet Delivery to the clients’ location (Jet Delivery, 2014). We will maintain a relationship with these firms and offer feedback to ensure that their quality standards are up to par.Range of Distribution: Our management will handle distribution. Sales representatives will be utilized to sell our product. We will ship our products via Jet Delivery to our clients. We chose Jet Delivery because they provide dependable same day delivery to our customers. Operational Strategy: Our goal is to provide seamless system installations of a quality product that can be quickly assimilated into a hotel's operations.Inventory Management: EnviroLite uses a fixed interval inventory system. Our lead time is three weeks because this allows enough time for our inventory to travel from Shenzhen to our headquarters. We desire a service level of 95% so only 5% of our customers experience a stock-out. This number is reachable for an organization with our limited resources. Based on our first year forecast, EnviroLite will have a safety stock of 163 and a reorder point of 191. Our inventory level will be based on our forecast and will be adjusted based on how many projects we have in the coming month. As EnviroLite grows, we will have to adjust inventory accordingly. Based on our forecast in the last three years, we will have to adjust our safety stock to 232 and reorder point to 309. We will begin implementing this new inventory strategy in the third year. For the first two years, we will be ordering 1,000 units at a time; this number will increase to 2,000 units as we acquire more business. Our inventory will consist of 25% EC-83 models and 75% EC-83LX models based on our forecast. Inventory will be managed on the assembling floor using Lettuce, a web-based application that allows

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for cloud based inventory management. This app is $39 a month and costs an additional $15 for each user added to the system (Lettuce Pricing, n.d.). The workers on the factory floor will use iPads to update inventory as it progresses. Managers and office workers can check inventory via the Internet, and the Lettuce application on a smart device. Each device will receive an etching of our company name on it, and from there, the system will either place the inventory in finished goods ready to ship, or move it to the customization process. EnviroLite will use Lettuce to maintain customer accounts and create invoices. Inventory will be based on forecasting.Capacity Planning: EnviroLite will purchase two Zing-16 laser engravers’ ($8,319 each) to customize the EC-83 Series (Epilog Zing, n.d.). The lasers speed varies depending on the material desired and the amount of power allocated to the machine. The engraver operates at a 60watt power. For our glass products, we will engrave at 500 DPI to ensure a high quality finish. Our engravers will run at 60% speed and 100% power to safely and effectively engrave the glass. This will be the design capacity for the engravers. The engravers effective capacity is subject to several factors. Each assembler will switch out the finished product for work-in-process and line up the product with the laser guidelines. The effective capacity is also subject to idle time. Assuming the assembler spends two hours a day idly, 15 minutes of each hour is allocated elsewhere an eight-hour workday. We are conservatively estimating that our assemblers will spend two minutes idle, or switching out devices. By viewing demonstrations of the laser in action, we estimate that the machine will take at most three minutes for even the most extensive engravings. Considering these two factors, we estimate the design capacity for one machine is 20 units per hour. Effective capacity (subtracting the idle time) is 12 units per hour for one machine. With two machines, we have the design capacity to produce 1,600 units a week. At effective capacity, we can produce 960 units a week. By our fifth year, based on our forecast, we will be running at 28.6% efficiency and 17.2% utilization. Since we only control one part of our manufacturing

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process, the laser engravings will be the bottleneck. We can meet our forecasted demand with one laser but we have two to deal with the risk of needing extra capacity due to unforeseen increases in demand. The second machine will serve as a backup when the first machine needs maintenance or cleaning.Operations Process: Hotels purchasing the EC-83 Series will contact EnviroLite through a sales representative. The hotel will choose a model and then send us any logo, image, or words they want engraved on their product. The products will be shipped to our headquarters via Jet Delivery. EnviroLite will contact state and local government regulatory bodies to obtain necessary installation permits. Once the order arrives, the products will be put through the Zing 16-30 laser engraver. Our assembler will load the requested images into the laser engraving software, then lift up the engraver’s cover, placing the product in line with the grid utilized for initial image placement. After an order is completed, it will be prepped for shipping through airfreight via Jet Delivery. We will have an electrician team available for installation once the product arrives. When dealing with multiple hotels, we will subcontract with additional electrician firms. Six months after the product is installed, our in-house electrician will go to the customer site to run a final check on the installation. Proactive Quality Assurance Plan: In order to prevent failures, as indicated on the process flow chart in figure 6, we will have a variety of procedures. To deal with failure point one, all orders will have at least one device randomly selected for testing. To test these devices, our in-house electrician will hook them up to a small circuit to see if the power appropriately functions. Once the device has passed, it will be cleared for customization. For failure point two, an on-site manager will review the logos and sign off on the order before engraving begins. For failure point three, we will replace any damaged products immediately. The damaged goods will be shipped to our location to conduct further analysis as to why the product failed. Finally, for failure point four, our electrician will check

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the installations at the hotel. If the hotel contacts us earlier with an issue, we will send our electrician as soon as possible, otherwise our electrician will go six months after completion. If the job is not done adequately, we will contact our contractor to improve their processes. We will utilize benchmarking to ensure that we are up-to-date with the best industry practices. Our operations manager will be collecting data regarding our customer order cycle time in days, our manufacturing order cycle time in hours, our cost of goods sold as a percentage of revenue, percentage of sales orders delivered on time, total cost to perform the process “order materials and services” per $1,000 purchases, average monthly product family forecast error measured by the mean absolute percentage error, and budget for marketing as a percentage of revenue. We will be using these metrics with the ASPQ database to compare our standards to industry leaders. We will use a TQM system to ensure that our products are successfully integrated for our clients. As a part of our continuous process improvement, we will maintain a close relationship with each electric firm we contract with. Before we contract with an electric firm, we will send our electrician to run a seminar on the devices that will go over the installation of the devices, troubleshoot common problems, and describe the appropriate etiquette expected while installing. To remain customer-focused, we will conduct follow up surveys with our clients which will be useful in understanding how effective and reliable the devices are, and give us insight into the productivity of the seminar and training. Our sales representatives will serve as a customer line to answer any questions or concerns. All information we gain on contractors will be used to adjust our training process and fix any problems that arise. Every year we will run a brief refresher seminar for our subcontracted electricians. We will seek total involvement within our company hierarchy by conducting weekly meetings between managers and floor workers. This will give floor workers a chance to provide insight into how the operations process can be improved. Every employee will evaluate one another on a quarterly basis.

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ManagementPorter’s Five Forces: Rivalry: The majority of EnviroLite’s competitors are operating outside of the US and will not be threats. Of the companies operating in the continental US, none have taken a significant chunk of market share. Operating in NV gives EnviroLite the opportunity to develop a reputation for being the best in our industry. We plan on expanding nationally to dominate the market.Threat of Substitutes: The EC-83 Series has few competitors, primarily Entergize, LEDs and other lighting technology. Our technology has been proven to function longer and save more money than these technologies. We do not see sustainable lighting taking much business from our company.Bargaining Power of Suppliers: GTD IOT has an advantage setting the price per unit. However, other suppliers do exist and we could make the switch if necessary. As an expanding company, EnviroLite’s suppliers have the incentive to maintain a good business relationship with us.Bargaining Power of Buyers: Buyers may be reluctant to purchase the EC-83 Series due to it being a new technology in the US. With an effective marketing campaign and good sales representation, our products will sell effectively. Once buyers realize the savings associated with our products, sales will proliferate among hotels nationwide.Barriers to Entry: Entry may be difficult due to high installation expenses. We plan on combating this with proof that our devices will recover their initial cost within 12-13 months.Triple Bottom Line:People: Employing local contractors contributes to the local economy. By implementing our product, EnviroLite will raise awareness among hotel guests to become eco-friendly. Profit: Customization is the main element of how EnviroLite generates profit. We will be outsourcing our manufacturing to GTD IOT. Establishing our company at a central location will save us money on transportation

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costs and the amount of time that sales representatives spend on each customer. Planet: The EC-83 Series minimizes the carbon footprint left by the operational processes by reducing electricity consumption by as much as 30% in each hotel room (Hotel Energy Solutions, n.d.). This will have long-term benefits for the environment, as well as saving hotels a significant amount of money on operational expenditures.Staffing: EnviroLite will begin searching for employees on October 6, 2014. Job descriptions will be available for one month and posted on employee search engines such as LinkedIn, Monster, and CareerBuilder. EnviroLite’s owners will review resumes and interview qualified candidates. The owners of EnviroLite will select the individuals that provide the best value to our company. Training for managers of EnviroLite will begin immediately after they have accepted their offer; while training for line employees will begin two weeks before the first sale of the EC-83 Series. Semi-annually, EnviroLite will offer off-site training and team building for employees to maintain sharp skills, motivation, and cohesiveness, which will contribute to our professional and friendly culture. EnviroLite will maintain employee satisfaction by compensating employees competitively. See Figure 7 for organizational structure chart

These descriptions and benefits were found at the Bureau of Labor Statistics, Occupational Outlook Handbook.General Manager: Our general manager will help develop and execute our goals, missions, and visions. The general manager will report to the owners quarterly to present the current status of the company. We will be searching for an individual who holds a bachelor’s degree in business administration with four or more years of professional experience. Their qualities should include effective communication, efficient decision-making, leadership, and time-management skills. Sales Manager: The sales manager will direct the acquisition of new contracts with hotels. Their primary goal is to ensure sales are growing

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year-by-year. The sales manager will have a base salary coalesced with a bonus based on commission. We will search for an individual who holds a bachelor’s degree in marketing with three or more years experience. This individual needs to have outstanding people skills and must be able to adapt to new targets as EnviroLite grows.Operations Manager: The operations manager will oversee transportation, engraving, and packaging of the EC-83 Series. This individual will manage efficient production, quality assurance, and movement of the EC-83 Series. We will search for an individual who holds a bachelor’s degree in business administration with three or more years’ experience in operations, requiring reputable leadership, and problem-solving skills.Bookkeeper: The bookkeeper will be responsible for creating and maintaining the financial papers. The individual must hold a bachelor’s degree in business and have two years of experience.Sales Representatives (6): We will begin with two sales representatives in year one and two. We will hire a third rep in year three. When we go national in year four, we will hire two more reps and then an additional rep in year five, for a total of six reps. Our sales reps will attend the two hospitality conferences annually to increase EnviroLite’s exposure. The sales reps are the first point of contact for client’s questions. We will be looking for employees with a B.A. in marketing with at least three years of marketing experience. These employees will need to have an enthusiastic personality, and high energy levels to sustain the travel that will be required of them.Assembler (2): Assemblers will engrave and construct units. They will report to the operations manager weekly to improve workflow and production. Employees need a high school diploma.Electrician (5): Electricians will provide direction to the contractors at each site. While the employee will not stay onsite, the individual will check in periodically to ensure that the device is installed correctly. The

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electrician will then approve the wiring of the device. The electrician will checkup six months after installation to ensure that the device is working correctly. We will search for an individual who is a licensed electrician with three years of experience and a high school diploma. An additional electrician will be hired every year.

FinancialsFor our future cash flows we have estimated NPV, IRR, MIRR, and the payback period accordingly. The given information for the following results is in Figure seven and Figure two stating our free cash flow and the calculated WACC. The net present value for the five years and the terminal value are $2,463,093. This is based off the terminal value being calculated with 1% growth after the 5th year. Factoring in our initial investment, our final NPV is $2,217,093. Since this is positive, it shows that given our future cash flows we will be making money and the project should be accepted. Based on the same free cash flows, we find out IRR to be 85.6%. This means that for our project to have a NPV of 0, our WACC would have to be 66.2% higher than it is now. MIRR is 72.4% and since this is over the WACC it means that our company is profitable. Given our initial investment of $246,000 it will take 2.07 years to pay that back. This means everything after this point is good because it means our investment paid for itself. To show our sensitivity, we altered unit sales by 25% above and below the base case showing that we could either have a NPV of $4,091,750 if our sales are high by 25% and if they are low by 25% we still would not reject the project NPV because it is still positive by $342,436. Assuming our base case, our plan after the 5 years is to continue business trying to maintain 1% growth at least. With this assumption, our terminal value would be $6,087,605 which means after 5 years, given the 5th year cash flow, we would be making money in the future even with 1% growth.

ConclusionThe market of customizable hotel key cards is relatively untapped within the continental US, establishing success for EnviroLite. Outsourcing allows

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cheap, yet reliable products for customers. Customization will fulfill customer needs while adding value to their brand. Our financial forecast indicates strong growth and stability for the future, ensuring a profitable return of approximately 70% in year five. Our triple bottom line indicates that EnviroLite intends to be profitable by making sound financial decisions. It also emphasizes the environmental benefits that the EC-83 Series will provide, while allocating jobs to local personnel with reasonable benefits. With proper implementation, EnviroLite will replicate the success that the technology has seen internationally.

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Figure 1

Figure 3Figure 2

Figure 4

Addenda

1.We plan on advertising in Lodging Magazine which will cost us $433 per ad per month, totaling to $5,196 per year (years 1-5). We obtained this information from emailing with Sol Ortasse of Lodging Magazine.

Figure 5

2. We plan on advertising in Hotel Business Magazine once a month, which will be a monthly cost of $1,160 based on http://www.hotelbusiness.com/media/advertising/hb_2014_classified.pdf . Per year would be $13,920. Advertising via this magazine will begin in year 1 and we will place two ads per month starting in year 3, once we start expanding to the entire West Coast, in order to get our name out more.3.We plan on attending the HD-expo, a Hospitality Design Event located in Las Vegas May 13-15, in May of all 5 years. This costs $175 per ticket, and we plan on sending two sales reps in the first two years, 3 sales reps the third year, and 4 in the fourth and fifth year.4.We plan on attending the Lodging Conference in Phoenix, AZ every year in October which cost $2,195 (lodgingconference.com).5.Web Year 1-$3500 to create a website, $840 to maintain it (webpagefx.com, Arimaweb.com)5.Web Year 2-5- $840 to maintain it each year. (Arimaweb.com)6.  We plan on sending out direct emails to hotel executives and presidents in our target market quarterly. We will be doing this via email (that we receive at the Lodging Conference and at the HDExpo), which will cost us nothing. This will be a task of the sales representatives.*Our sales reps are included in our promotional budget, they are accounted for in our management chart/financials with explanation of their personal selling on pg. 8.

Figure 7

Figure 3- Owners’ Equity

Figure 4- Sensitivity Analysis

Financials

Figure 6

Ratio Table Analysis *All ratios are compared against the industry average of the Commercial electrical industry (Dun & Bradstreet, 2008).

Our current ratio is much higher than the industry average because we are not a heavily leveraged company. Our fixed assets were only able to cover a $14,000 loan from the bank so we rely heavily on outside shareholders. The ratio begins to increase after the first year as we begin selling many units which bolsters our cash. This combination of events increases our current assets and constrains our current liabilities, allowing for an increased current ratio. The ratio begins to decrease at the end of the third year due to the reinvesting of our cash in the form of dividends and investing into CDs.

Our total asset turnover is increasing because we have predicted that our market sales are going to increase rather aggressively. Again, due to the nature of our equipment and a rather steady inventory, our total assets are rather consistent. Thus, our numerator is increasing and denominator is staying the same, causing an increase in total asset turnover. The only time this does not hold true is the second year where we experience a small decline due to our expansion not being as great as subsequent years.

Our debt ratio is much lower than the industry average because much of our capital comes from equity rather than loans. It also stays fairly consistent each year because we do not add any debt or any major fixed assets throughout the 5 years.

Our return on assets and equity are negative the first year because of our negative net income the first year. As our sales begin to increase in the following years leading to a positive income we begin to have a very impressive ROA and ROE.

Figure 1- Ratio Table Figure 2- WACC

Figure 5- 5 Year Forecast Figure 6-Capital Formation Chart

Figure 7- Statement of Cash Flows

Figure 8- 1 Year Forecast

Figure 9- Future Cash Flows and Investment Analysis

Forecast AnalysisWe believe through proven success in Europe and Asia, the short payback period, and the skill of our sales representatives that we will at least be able to reach one hotel a year per city, with the exception of Las Vegas where we believe we will reach two due to the abundance of hotels and the excessive usage of electricity in the city. We believe that this is a conservative forecast and believe our potential could be much greater. In our first year, we will be staying within 500 mile radius of our facility. This will allow us to reach several major cities that have large hospitality markets. The cities within this area with the most potential for success are Henderson, Reno, Las Vegas, Los Angeles, Phoenix, Salt Lake City and Carson City. Our second year, we are expanding to Denver, San Diego, Sacramento, and San Francisco. Third year we are going to grow to San Jose, Portland, Seattle, and Albuquerque. Fourth year we are going to start moving east to Dallas, Houston, Austin, Chicago, St. Louis, Milwaukee, Indianapolis, and Columbus. Fifth year we make it to the east coast New York, Boston, Washington D.C., and Philadelphia. Through market research and market surveys we were able to gain sense on the quantity and size of hotels in each city. Each of these cities we plan on reaching have at least 100 hotels within the city and the surrounding area and the major cities such as Las Vegas, Los Angeles, Chicago, and New York have hundreds within their city limits. When conducting market surveys on the size of hotels in these cities the majority of them fall within the medium and large specification. We were on the conservative side and forecasted that we would mostly reach hotels that fall under the medium specification. We forecasted that we would sell more of our EC-83LX model rather than our EC-83 model due to the fact that we are not charging that much more and the incremental cost would insignificant. We believe seasonality will play a major role in when we

Figure 10- Monthly Cash Budget

Figure 11- Balance Sheet

Figure 12- Income Statement

Financial NotesLegal Form of BusinessOrganization- S-Corp, The founders are Jeffery Thompson, Patrick Ryan, Kayla Gibbs, Samir Desai, Thomas O’Sullivan, Brittany Boyer and Taylor Lewis. The money contributed was $12,000, $13,000, $14,000, $15,000, $13,000, $15,000, and $14,000 respectively. Each of the founders will have 600, 650, 700, 700, 750, 650, 750, and 700 shares respectively. Outside shareholders contribute $150,000 to attain

7,500 shares.1Cash and cash equivalents- We decided that we do not want to hold an excess of $150,000 dollars on hand at the end of each year. We will invest our surplus of cash into a CD at 1.14% starting at the end of our second year. We invest $100,000 in the second year, $150,000 the third, $120,000 the fourth, and $170,000 the fifth. We will also redistributing the surplus of cash to our shareholders starting at the end of our third year. 2Inventory- We will be using a fixed interval inventory system. Our inventory will consist of 70% of the EC-83, and 30% of the EC-83LX. These purchases will be from GTD IOT Technology Co. For the first year we will not be purchasing more than 1,000 units at a time and as we acquire more business, this number will increase to 2,0003Accounts Receivable- We are extending credit to our customers and estimate that our average collection period will be 30 days. 4Equipment and Furniture- We purchased 2 laser engraving machines for the customization of our product from Epilog Lasers for $8,319.69 each. Our office equipment for our first year will consist of a printer (capable of fax and copying) for $349.99, three desktop computers for $349.98 each, one laptop for $329.99 and three ipads for $299.99

each. As we hire more sales reps in the following years we are going to purchase an additional iPad for each rep. All the office equipment will be purchased at Best Buy. We also are purchasing five desk for $200 each, five desk chairs for $50 each, one file cabinet for $250, five office telephones for $60 each, and leaving us with $200 to spend on other miscellaneous furniture needs. All these purchases will be made from Office Depot. 5Accrued Salaries- We will pay our employees on a monthly basis and will always have a one month salaries expense in accrued salaries from the previous month. 6Long-term notes and debt- We calculated that the most we could loan from the bank was $14,000. This was based on the amount of our fixed assets could back up the loan. We calculated that our engraving machine value will be held at 65% value, our equipment and furniture will be held at 80% value. The loan’s term is five years at 8%. We got this loan from a phone interview with Andrew Suglia at Wells Fargo. 7 Revenue- Our revenue is broken down into how many hotels we will reach and the size specification of each hotel. We classified a hotel with less than a 100 rooms as a “small” hotel, one with 100-300 rooms as a “medium” hotel, one with 300-1000 rooms as a “large” hotel, and one with 1000+ rooms as a “mega” hotel. The pricing for hotels that elect to go with our EC-83 model for each of these specifications are $30,000, $90,000, $150,000, and $300,000 respectively. Hotels that elect to go with our EC-83LX model will pay $31,500, $94,500, $157,500, and $315,000 respectively. The years will be broken down as follows. First year- 6 medium hotels of EC-83 and 2 large hotels of EC-83LX . Second year- 6 medium hotels of EC-83 and 2 medium and 4 large of EC-83LX. Third year- 8 medium hotels of EC-83 and 9 medium and 4 large hotels of EC-83LX. Fourth year- 8 medium and 1 large hotel of EC-83 and 16 medium and 4 large hotels of EC-83LX. Fifth year- 9 medium and 1 large hotel for EC-83 and 22 medium, 7 large, and 1 mega hotel for EC-83LX.8Cost of Goods Sold- Our EC-83 model cost $5.00. Our EC-83LX model cost $8.60. We also need to purchase a plastic holder for our EC-83 model which cost $0.50. We are purchasing our entire inventory from GTD IOT Technology Co., Ltd who is based out of China. (GDIOT, 2014). 9Salaries – Based on research from the Bureau of Labor Statistics, average salary was reached and then applied to specific business skill and size of business in Nevada. 10 Shipping- We are using sea freight to ship our product from Shenzhen, China to Los Angeles using Amid-Logistics, which charges us $550 per 181 units (Amid-Logistics, 2011). We are then using air-freight by Jet-Delivery to get our inventory from L.A. to Henderson, NV (Jet-Delivery, 2014). 11Distribution- We are going to use Jet-Delivery to distribute our product out to our customers. Using their website, we attained quotes for shipments to the different cities we are going to sell to (Jet-Delivery, 2014). 12 Supplies- Our Company as appointed $125 a month or $1,500 a year for buying office supplies. This will entail buying printing paper, pencils, pens, calculators, staples, tape, markers, sharpies, scissors, and all other office supplies.13Advertising and promotion- $24,408 budget for: magazine advertisements, conferences, and website maintenance (see figure 1 for breakdown). 14 Rent- Using Loopnet.com we found a 5336 Sq industrial warehouse and office. Ft. lease in Henderson, Nevada for $31,373 a year. (LoopNet, 2014)15Utilities- We estimated that we will be paying $906 per month for utilities which is the average cost of utilities for commercial properties in Nevada according to the U.S. Energy Information Administration (eia.gov). 16 Website design - Using webpagefx.com we estimated that using a freelancer and have a website that included everything we needed for a one-time fee of $3,500.17Website maintenance- By outsourcing website maintenance we pay for our website to be updated for a total of 5 hrs. a month at $14 an hour, which comes out to $840. This is based on Arimaweb.com’s estimates. 18Insurance- According to the U.S. Small Business Administration (sba.gov) based on the type of business we are and the type of liability insurance we think is suitable for us our annual premium is going to be $1,000. 19Employee Benefits- We decided to provide our GM and salespeople with incentive based benefits. We also are providing paid life and health insurance, and a 401(k)/IRA/SIRA match for all our employees. 20Employee Taxes- Employee Taxes are SS of 6.2%, WC of .54%, SUTA of 7.58%, and FUTA of .6 attained by research from government sources and each is applied to individual employee salaries. This information was accumulated from Tax.nv.gov, and ssa.gov.21Business License Fee- The state of Nevada requires all businesses located in their borders to pay a business license fee that has to be renewed annually for $200. 22Subcontracting Expense- We are using a variety of electrical contractors depending on the location of the installation. Through research, we were able to discover that it cost $100 per room to install our product (American Council for an Energy-Efficient Economy). 23Incorporation Fee-The state of Nevada charges an annual fee for incorporating in the state of $284. 24Depreciation- Our equipment is depreciation using straight-line depreciation with a salvage value of $707 at the end of eight years. It depreciates $2,659 every year for 8 years. 25 Sales Tax- The state sales tax in Nevada is 6.85%. 26Interest Expense- 12 payments per year at 8% for 5 years. 27Interest Revenue- We invest the excess cash that follows our cash policy in a CD from Nationwide Bank at 1.14% (Nerdwallet, 2014)28 Taxes- There is no franchise and corporate income tax in the state of Nevada. 29Dividends- We will start paying out a dividend at the end of our third year. We will distribute 50% of our owners’ equity at the end of the third year, 65% at the end of our fourth year, and 70% at the end of our fifth year.

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