Friday, April 23, 2010
The Foldio
Christian Lane came looking cfor an investment of 30,000 pounds for 15% for a company named "Foldio". A product that holds a big peice of paper folded, but leaves no fold marks behind. Only two dragons stayed in. One offered 80,000 for 35% for support and mentorship from the investor himself.
3 ideas come out of this product presentation:
1. Every idea is good.
2. Homework is important.
3. Mentorship is key.
This guy was only 19 and got approximately 200,000 dollars for this idea that turned out good.
Element Bars
The entrepreneur who makes Element bars - a natural energy bar made with regular ingredients came to the Shark Tank. He asked for $150 000 investment for 50% of the business. He went for giving up 30% of his business for a licensing agreement where he gets 4% of sales and $150 000 for investment.
The funny thing was, that he went back and forth with the sharks. He negotiated with the sharks and refused every offer, until the last one was re-made. He knew his product was valuable and decided the last offer made was worth it.
Thursday, April 22, 2010
Streamline Fitness
A high-end, sophisticated gym, dedicated to helping you achieve your fitness goals. Enthusiastic trainers, high-end equipment, and a postive surrounding atmosphere will encourage growth, perseverance, and determination. There will be a tanning salon, a supplements and juice bar, sauna and a massage therapy option located inside the gym. There will be an optional "women's only" side to the gym as well.
This gym will not be open to public without a $30.00 drop in fee. This is a members-only area, dedicated to your success. The monthly membership can range anywhere from $50.00 - $100.00/month. We will be in association with nutritionalists and physiologists so that we can work with the injured or medically impaired clients.
Friday, April 16, 2010
Ray Kroc
The ultimate competitor in the food industry was Ray Kroc. He was born in 1902 and his first business ventures were lemonade stands, grocery stores and soda fountains. In grammer school all he cared about was making money - and he jumped at the chance to join the army during World War II. He trained, but the war ended soon, so he went back home, and at the prompting of his parents - went back to school. But he only returned for one semester.
In order to get his father's permission to marry his love - Ethel, he began to sell paper cups. He also found work at a local soda fountain. He conviced them to use his paper cup, so people could bring a soda home, and he was right. It revolutionized the face of the soda fountain.
Work was everything to ray after this, and he barely made time for his family. He left the paper cup business and went into milkshake machines. His business slowed over time, but one restaurant continued to order these machines. He flew out to California and went to meet the men of McDonalds.
The McDonald brothers revolutionized fast food. They created an assembly line like that of FORD. Every burger was the same. No questions asked. Kroc joined the team, and thought he could open franchises for them, making more money for their great business model. At 52 years old he made the cover of American Restaurant Magazine. He sold 18 franchses and kept 1% of the sales; giving the McDonald brothers only 0.5%.
In 1951, he ended his marriage with Ethel. He married a woman named Jane out of convenience and continued to make money. He wanted more control of franchises and sought out new locations. He always looked where there were churches. Where there were churches, there were good families - the perfect customers. He bought McDonalds from the brothers for 2.7 million. He then utilized TV commercials for the business.
Later on, he found his absolute true love, divorced jane and married Joan - the woman of his dreams. He then used his money to start a scientific medical research company and bought the San Diego Padres baseball team. He suffered many strocked and in 1984 - died at age 81
McDonalds was mostly into the real estate business - not necessarially all wrapped around the food industry. The company developed an innovative food production and delivery system. Ray Kroc wanted to make sure everyone got good value - essentially what they deserved.
Friday, April 9, 2010
Dream Maker Lottery
This is the quick informational speech I will be giving while trying to sell tickets for the car Sardis Secondary is drawing for.
"Hi there! I'm here on behalf of Sardis Secondary Highschool supporting our Dream Maker Lottery. We're raising funds for the dreams of our graduating students this year. You will be able to help students go for post-secondary education by providing more scholarships and bursaries to them. We also have many grads who cannot afford to even go to their own graduation banquet. Honda has kindly donated a 2001 Acura EL, and we are selling tickets for it. All the proceeds will go straight into our graduation legacy fund. The draw date is June 8th. We would really appreciate your support with this."
"Hi there! I'm here on behalf of Sardis Secondary Highschool supporting our Dream Maker Lottery. We're raising funds for the dreams of our graduating students this year. You will be able to help students go for post-secondary education by providing more scholarships and bursaries to them. We also have many grads who cannot afford to even go to their own graduation banquet. Honda has kindly donated a 2001 Acura EL, and we are selling tickets for it. All the proceeds will go straight into our graduation legacy fund. The draw date is June 8th. We would really appreciate your support with this."
Thursday, April 8, 2010
Shark Tank!! 2nd Attempt
Jeff Wolsky went to the sharktank for a swim. He asked the sharks if they would invest $75,000.00 in expanding his existing business - making bobblehead dolls available in a mall kiosk. He did not however inform the sharks that he had an existing online business, selling the bobbleheads already.
The sharks first accused him of being guilty of hiding his online business from them, and few of them opted out for this reason. Information and numbers were asked about this business, and he wouldn't give exact count for what it made - he would only give the answer "Between five and six hundred thousand a year."
After the offer for $125,000.00 for 20% was presented, Jeff almost accepted until the other sharks sent him out of the room to deliberate.
The sharks came up with a plan to give him $100,000.00 and 20% of the business. Jeff declined. After the offer was declined, the last shark offered once more $125,000.00. Jeff countered the offer and asked for $100,000.00 with only 7% of the business. The last shark finally ducked out, and Jeff was sent home.
What I don't understand is why he couldn't use his company's money to expand. He was called greedy and he called the others greedy right back. In reality, he was greedy. He wasn't willing to risk any of his other business for the new one. He refused every offer, and walked out the door empty handed.
His online business is still thriving, but the kiosks never really took hold. This was probably a good thing - considering a lot of money would have been lost from the sharks when it could have gone to a better place.
Wednesday, April 7, 2010
Top 100 Businesses
West Jet:
West Jet lets employees share in the company's success with a profit-sharing plan and helps them save for retirement with matching RSP contributions.
West Jet offers employees a variety of great financial benefits, including reduced airfares for employees, friends and family as well as preferred hotel and car rental rates.
West Jet also encourages employees to advance their careers within the company, with a formal career development program, career mobility workshops, and an annual "career mapping" event that helps employees learn more about WestJet's different departments.
Canada Safeway Ltd:Safeway manages a share purchase plan that all employees are eligible to join
helps pay tuition fees for employees pursuing further studies related to their current position (to $4000/year).
They subsidize the cost of memberships to a nearby fitness facility, and provides onsite shower facilities for employees who ride their bikes to work. They also maintain an onsite nap room for employees who need a break during the day. :)
ATB financial:
ATB financialsubsidizes the full cost of tuition for employees completing courses at outside institutions (with no annual maximum).
They encourage employees to pursue professional accreditation with financial bonuses (to $500) upon successful completion.
They help employees prepare for retirement with retirement planning workshops, and phased-in retirement work options.
University of Alberta Teacher:
UFA operates subsidized onsite daycare facilities for employees with young children, in addition to an offsite daycare subsidy of $2000 per child.
UFA gives employees free memberships to its onsite fitness facility, which includes a climbing wall and running track. They also help employees transition to retirement with phased-in retirement work options, and financial planning assistance.
Vancity:
Vancity lets employees "purchase" extra vacation days in exchange for reduced coverage under their flexible benefits plan.
They support alternative work arrangements, including flexible hours, telecommuting, shortened work weeks and 35-hour work weeks (with full pay).
Vancity bank provides generous tuition subsidies (to $2,400 each year) as well as a variety of in-house training programs to help employees continue their education.
Thursday, April 1, 2010
Dave Thomas
In 1932 in a time when 13 million were unemployed, Dave Thomas was born in Atlanta City. Being born out of wedlock, he was adopted 3 months later by a young couple. At 5 years old his adoptive mother - the only mother he knew, died. It was now up to his father to raise him. His father took him to restaurants for meals every night. They moved to oakridge when Dave was 12 years of age - in the second world war. He was hired on at a local drugstore "Wall Greens" but fired soon afterward. Wanting to prove his value to his father, he applied for a job at a restaurant. In order to be hired on as a part of the staff, he had to lie about his age.
Stating that he was 16 years old - he was hired. He had a dream about starting his own chain of restaurants. At 15 years old he moved to Fort Wayne and lived at the YMCA, getting a job at the Hobby House Restaurant.
During the Korean War, rather than waiting for the the draft, he volunteered for the U.S. Army to have some choice in assignments. Having food production and service experience, Thomas requested the Cook's and Baker's School at Fort Benning, Georgia. He was sent overseas to Germany as a mess sergeant and was responsible for the daily meals of 2000 soldiers. He later attributed his success in fast food to this experience in feeding large groups. Thomas was honorably discharged in 1953, with the rank of Staff Sergeant.
Before and after Thomas' Army enlistment he worked at a restaurant owed by the Clauss family, located in Fort Wayne, Indiana. During that time, Kentucky Fried Chicken founder, Col. Harland Sanders, came to Ft. Wayne to find established restaurants to buy franchises from him. At first, Thomas, who was the head cook of the restaurant, and the Clausses declined Sanders' offer, but the Colonel persisted and the Clauss family franchised their restaurant with KFC and later also owned many other KFC franchises in the midwest. During this time, Thomas worked with Sanders on many projects to make KFC more profitable and to give it brand recognition. Among other things Thomas suggested to Sanders that were implemented; reduce the number of items on the menu, focusing on a signature dish, and introduced the trademark sign featuring a revolving red-striped bucket of chicken. Thomas also suggested Sanders make commercials that he appear in himself. Thomas was sent by the Clauss family in the mid-1960's to help turn around four ailing KFC stores they owned in Columbus, Ohio. By 1968 he had increased sales in the four fried chicken restaurants so much that he sold his share in them back to Sanders for more than $1.5 million. This experience would prove invaluable to Thomas when he began Wendy's about a year later.
Thomas opened his first Wendy's in Columbus, Ohio, in 1969. (This original restaurant would remain operational until March 2, 2007, when it was closed due to lagging sales.)[5] Thomas named the restaurant after his eight-year-old daughter Melinda Lou, whose nickname was Wendy, stemming from the child's inability to say her own name at a young age. According to Bio TV, Dave claims himself that people nicknamed his daughter "Wenda. Not Wendy but Wenda. So one day, I looked at her and said...'I'm going to call it Wendy's Old Fashioned Hamburgers'."[6]
In 1982, Thomas resigned from his day-to-day operations at Wendy’s. However, by 1985, several company business decisions, including an awkward new breakfast menu and loss in brand awareness due to fizzled marketing efforts caused the company’s new president to urge Thomas back into a more active role with Wendy's. Thomas began to visit franchises and espouse his hardworking, so-called “mop-bucket attitude.” In 1989, he took on a significant role as the TV spokesman in a series of commercials for the brand. Thomas was not a natural actor, and initially, his performances were criticized as stiff and ineffective by advertising critics. By 1990, after efforts by Wendy's agency, Backer Spielvolgel Bates, to get humor into the campaign, a decision was made to portray Thomas in a more self-deprecating and folksy manner, which proved much more popular with test audiences.[8] Consumer brand awareness of Wendy's eventually regained levels it had not achieved since octagenarian Clara Peller's wildly popular "Where's The Beef" campaign of 1984. With his natural self-effacing style and his relaxed manner, Thomas quickly became a household name. A company survey during the 1990s, a decade during which Thomas starred in every Wendy’s commercial that aired, found that 90% of Americans knew who Thomas was. After more than 800 commercials,[1] it was clear that Thomas played a major role in Wendy’s status as the country's third most popular burger restaurant.
Thomas, realizing that his success as a high school dropout might convince other teenagers to quit school (something he later admitted was a mistake), became a student at Coconut Creek High School. He earned a GED in 1993. He later earned an honorary membership of Duke University's Sigma Phi Epsilon. Thomas was inducted into the Junior Achievement U.S. Business Hall of Fame in 1999.
Thomas was a Freemason, and a member of the Shriners. He was also an honorary Kentucky colonel, as was former boss Colonel Sanders.
Thomas was posthumously awarded the Presidential Medal of Freedom in 2003.
Thomas died at his home in Fort Lauderdale, Florida, after a decade-long battle with liver cancer. He was buried in Union Cemetery in Columbus, Ohio. At the time of his death, there were more than 6,000 Wendy's restaurants operating in North America.
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