Executive Summary / Powerpoint Presentation
padhfindery1966
week_9_template_change_1.docWaddell’s Herbal Tea
Business Plan
Waddell’s Herbal Tea Inc.
Ernest W. Butler
Strayer University
Copy #1 for Dr. Bakari
2015
Non-Disclosure Agreement
This document is for information only and is not an offering for sale of any securities of the Company. Information disclosed herein should be considered proprietary and confidential. The document is the property of ______ Company and may not be disclosed, distributed, or reproduced without the express written permission of ______ Company.
Executive Summary
Waddell’s Herbal Tea Inc. is a Virginia based company offering an alternative to the standard prescribed and over- the- counter medicine. It has hot and cold tea such as; Moringa which provides vitamins, minerals, protein, antioxidants and amino acids.
Management will vigorously promote the dignity and self-worth of all their current and future customers, and strive to give them an excellent quality of life by providing them with alternative natural medicine.
The company will offer free delivery for any purchase of $50 or more, within the Hampton Roads area. Currently, there are 2 different types of herbal tea ready to be sold immediately. Future plans are to broaden the scope of free delivery throughout the state of Virginia.
Corporate social responsibility and sustainability are integral parts of the Waddell’s business strategy. The company strives to grow in harmony with social standards without having a negative impact on the environment.
Once underway and well established management will expand their scope and take advantage of high-margin sales and leverage existing labor force to sell and service more products. Within two years the operations team intends to be one of the most sustainable producers of fast-moving consumer goods in the region and hopefully nationally.
Contents
4 Products
8 Assessment of Competitor’s Market Condition
10 Operation,
11 Technology
11 Ethics and Social Responsibility
13 Health Issues or Claims Related to the Product
13 Advertising and Distribution
15 References
This Table of Contents (TOC) has all the headings from the template included. To update your TOC, right click anywhere in the Table of Contents, select Update Field, then select Update entire table or Update page numbers only, and click OK.
Business Plan
Waddell Herbal Tea Inc.
Company Description
Waddell’s Herbal Tea Inc. is a Virginia based company offering an alternative to the standard prescribed and over- the- counter medicine. It has hot and cold tea such as; Moringa which provides vitamins, minerals, protein, antioxidants and amino acids. Dill tea that helps eases upset stomach and Cat Nip which provides relaxation and calmness. Through interaction with a number of herbalist and nutritionist they discovered a ready market of clients who are eager to explore alternative medicine and willing to change immediately.
Company Mission
Waddell’s Herbal Tea Inc., mission is to promote the dignity and self-worth of all their current and future customers, and strive to give them an excellent quality of life by providing them with alternative natural medicine. They differentiate themselves from competitors by offering premier mobile training and consultation in keeping their products consumer-centric, continually upgrading their knowledge and expertise and always maintaining the best quality of customer service. Their goal is to expand and make a footprint throughout the state of Virginia as being the leading Herbal Tea Company and distributor. This can be accomplished by breaking even in the second year and start making substantial profits in the third year, allowing room for expansion and growth.
Products
Herbal Tea has been around for centuries but may have been called several different names
and typically used by boiling it in water. Waddell’s Herbal Tea is offering the same product but in a bottle, ready to use immediately. The tea can be stored in a refrigerator, left out at room temperature, or boiled; whatever the consumer prefer. There are different bottles for all sorts of health concerns such as; high cholesterol, weight loss, weight gain, metabolism, energy etc... The company will offer free delivery for any purchase of $50 or more, within the Hampton Roads area. Currently, there are 2 different types of herbal tea ready to be sold immediately. Waddell’s Herbal Tea comes in a 16 ounce bottle and sold as a six pack, cost vary dependent on the item the customer request but prices range from $7.50 to $10.00. Waddell’s Herbal Tea, Inc. owns the trademark and the slogan ”Waddell’s Herbal Tea Makes Your Body Feel Free”.
SWOT Analysis
Waddell’s Herbal Tea makes its brand and products available to its consumers throughout the Hampton Roads area. Through careful study, examination, and inquiries to avoid costly mistakes, his management team conducted a SWOT analysis to get as much feedback as possible that could impact the success of his organization.
Strengths
After an introductory sentence or two, bulleted points are acceptable.
· High Product Diversity
· High Financial Gains ranging over thousands of dollars per year
· Effective advertising and marketing strategies
· High rate of Sales
· Periodic Progression
· Extensive beverage distribution channel
· Consumer Loyalty
· Bargaining skills over Suppliers
· High global value in terms of brand image This is the correct position for bullet points
· This give your document a uniform look
Weaknesses
· After an introductory sentence or two, bulleted points are acceptable.
· FDA
· Low prices
· Operational mistakes
· Less market share compared to its competitors
· In-effective brand awareness programs
· Less profit Margin Negative Publicity
The use of numbered bullets is appropriate when listed items must be executed in a specific order.
1. If there is no specific order, then use the round bullets.
2. Be aware, in most cases, round bullets are appropriate
Opportunities
· Increasing demand of herbal tea
· Customer requirement for healthy products
· Potential expansion in case of acquisitions
· Bottled water demand
· Hospitals & Military Installations
· More flow of money in global market
· Baby Boomers After an introductory sentence or two, bulleted points are acceptable.
External Threats
· Consumer taste changes
· Lack of water and other resources
· Decreasing net profit margin
· Increasing dollar value
· More competition in market
Negative Label information
Side Effects After an introductory sentence or two, bulleted points are acceptable.
Marketing Plan
Company’s Target Market
The owner’s operation team is focused on expanding their herbal tea products and services throughout the state and in the future nationwide. This will be accomplished by doing the following: reaching out to all his target market, out working his competition, offering the best prices for the product, and establishing an effective and excellent marketing concept as the company continues to grow.
In any industry characterizing your target business sector helps you plan an advertising crusade that dodges squander and gets your promotions before likely clients, without spending valuable assets on those unrealistic to be intrigued (Small Business Chronicle 2015). Therefore, having target customers in mind is one of the strategic decisions that management should have.
The Hampton Roads area, where Waddell’s Herbal Tea Inc. is located; 17% of the population consists of the age group 30 to 65 and older. Mostly, in the above population, whites are 65%, Blacks/African Americans 30%, Asians 2% and others are 3%. The gender is 51% female and 49% male. Median household is around $56,000 a year, 23 % are college graduates or higher, 58% are married and 71% own their residence (The Virginian-Pilot 2009). This is significant information for Waddell’s Herbal Tea because this is demographic in which their sales team will be targeting. The company rationale for choosing the above consumer base was due to the increased need to minimize some of the aging problems and alternatives to prescription and over- the- counter drugs.
Assessment of Competitor’s Market Condition
The effectiveness of marketing strategy is determined by how well the organization assesses the competitors in the same field of business. This enables one to take the advantages of the weak points of the competitors and make them your strength (Stewart & Brown 2012). Waddell’s management team will carefully assess the market condition and devise a strategy that will earn the market share by differentiating their products from those of the competitors.
The herbal tea market is very competitive in the Hampton Roads area. Just to name a few, their adversaries range from herbal tea weight loss companies, organic tea companies, herb-spice companies, and caffeine free herbal teas companies. The market is not saturated, so there are plenty of opportunities to be successful.
The basis in which their marketing team out-competes other businesses is primarily due to the pricing strategy, which is one of the best in the area because their rates are very affordable. This ensures that even the low income (social security, Medicare, government assistance) earners can afford thus winning the bragging rights over the competitors.
Waddell's business group accepts they are a venture over the opposition in light of the fact that they are on the ground communicating with the clients, their worries can be effectively and adequately be tended to, propelling agreeable client relationship, guaranteeing demonstrable skill and obligingness is given every day. The team knows by taking this approach will be the key factor in winning the trust of the customers and hence gaining the market share. This also assists in getting the information of the products in the minds of the customers. Therefore, the successful strategy that allows them to beat their competitors not only by sales but their customer recommendations will be put on the frontline when it comes to evaluating the success of Waddell’s Herbal Tea.
The future competition will be a treat not only for Waddell’s company but many others in the area. The worldwide business for tea is substantial and estimated growth at over 15 billion dollars (PRNEWSWIRE 2014). Unfortunately, PepsiCo and Coca-Cola see an opportunity in tea as soda sales continue to lose their fizz in the American marketplace. Tea, however, is on an upswing and the companies are battling over the market (CNN Money 2105).
Barriers for new companies entering the herbal tea market are that consumers are searching for the individual business that are genuine and caters to their needs. Large manufacturers such as Pepsi and Coke, customer may believe they should continue making and distributing what they are famous for which are soft drinks. Another barrier for new companies right now is over 77% of the tea brewed in the United States was prepared using tea bags. Prepared to-Drink and frosted tea blend involves more than one-a large portion of (52%) of all tea arranged in the U.S., with moment and free tea representing the offset that arranged to drink (Tea Association 2014).
Companies Message
With the use of 5 F’s in marketing brings a new perspective in the field where it is a cutting edge over and above the normal marketing campaigns. This is explained by functions: Waddell’s Herbal Tea is used to advance the health and quality of life for the customers. The targeted demographic can use this product as an alternative for healing and soothing, which he believes will definitely have a positive impact on their lives.
The financial element, both the consumer and company, will equally benefit. The low prices make it affordable to the customers while from the sales; the company gets financial gain. When it comes to the availability of the herbal tea to the consumers, the widespread outlets make it possible for the products to purchase them everywhere and in varied quantities.
Freedom to purchase the quantities one can afford in the Hampton Roads area. The company’s product is genuine because the level of satisfaction the customer gets can’t be compared to any other in the sector.
Operation,
Operations Plan
Waddell’s Herbal Tea Inc., understands how vital a role of an Operations Plan, and are needed to unify his company in order to accomplish all the necessary tasks that must be done in the necessary order to achieve success. Waddell’s management team has composed a strategic plan based on realistic, tangible, and achievable goals that must be reached if his company is to accomplish its sales and profit objectives.
Waddell headquarters is currently located at 4837 Merrimac Trail in Williamsburg VA. However, the main bottling equipment (two mixers and the auto snap cappers) are at a facility in Newport News VA., approximately 12 miles from headquarters. This cost and time effective strategy was derived due to the demographics (30years and older) and location (military installations) of his customer base.
The competitive advantage is that Waddell's business group accepts they are a venture over the opposition in light of the fact that they are on the ground communicating with the clients, their worries can be effectively and adequately be tended to, propelling agreeable client relationship, guaranteeing demonstrable skill and obligingness is given every day. The team knows by taking this approach will be the key factor in winning the trust of the customers and hence gaining the market share. This also assists in getting the information of the products in the minds of the customers. Therefore, the successful strategy that allows them to beat their competitors not only by sales but their customer recommendations will be put on the frontline when it comes to evaluating the success of Waddell’s Herbal Tea.
With every business, there will be some problems and risk involved. The management team may be exposed to some uncertainties such as; decreasing net profit, more market competition, and consumer taste changes, ineffective brand awareness, FDA, negative publicity, counteractions with other medications and possibly lawsuits. However, there are established measures to alleviate and overcome some these risks such as; pricing strategy, continuously working on the customers gaining their trust, so they’ll feel comfortable in buying and using their product. Ensuring his sales and management team have the best administration, quality service, and polished sales representatives to successful meet all specified goals.
Technology
Technology Plan
Every business owner understands the significance of technology in their organization. With business technology, companies can target a wider customer base and grow to higher levels. In return, the business can make more money and benefits that will help meet the requirements of your customers.
After careful examination for programming Waddell's administration group picked SYSPRO, which empowers 14,000 authorized assembling and conveyance organizations in more than 60 nations worldwide to enhance their main concerns through improved production network control, cost and lead time diminishment, stock efficiencies, client administration and eventually benefits. The newest release offers ground-breaking technological enhancements, including a next generation reporting tool, electronic signatures and a new user interface tailor the product to suit their needs (Top Ten ERP 2015)
Currently, for hardware needs Waddell’s company has three Apple Macintosh desktop computers, three printers, two labeling machines and three Apple iPads. For telecommunication, they have four land line phones, two at headquarters and two at the facility in Newport News.
They likewise have seven Apple Smartphones and later on are investigating uniting with clients and representatives by means of constant vicinity with online gatherings, including sound, feature, and web conferencing, which will upgrade profitability and benefit (Strategy & Business 2014).
Ethics and Social Responsibility
Waddell's Herbal Tea Inc. is a company that strives to be the best corporate citizen in the industry. Being socially responsible for himself and the actions of his employees is of the utmost importance. With most businesses, the culture of the company starts with the owner and Waddell’s reputation throughout the community; is of the highest integrity, honesty, and fairness. His Human Resource (HR) team made it their top priority to hire qualified candidates from the community to fill vacant positions, to show good stewardship and to provide better opportunities for the unemployed
The management team follows all jurisdiction laws including, payment of taxes, having an active business license, treating its employees as required by the law and its operations are legal. His company pays its employees in good time; it ensures each employee is given annual leave, and the expectant women are given maternity leave as required. His management department ensures that each and every employee is compensated for his work accordingly.
The operation team ensures the company is deeply involved in social and charitable programs throughout the community. The schools, churches, youth programs, social clubs and sororities have direct access for any assistance or support needed for any relief.
The company does not discriminate any worker due to basis of age, race, creed, color, sex, national origin, religion, sexual orientation, gender identity, disability, marital status, and socioeconomic status (Stewart & Brown, 2012). If workers are not abiding by the rules and regulations in the employee handbook, they will be counseled, and if the actions continue, they can be reprimanded, or the last result is termination.
Environmental Affects
Waddell recognizes that safeguarding the environment is a practice of conserving, protecting and restoring the natural habitat for the communities and surrounding areas. His management team understands the environment is essential and will ensure all daily operations are in compliance with the Clean Air Act; Clean Water Act and the United States Environmental Protection Agency (HG Legal Resources, 2015).
The scarce of water in the tea industry has an impact on the environment because water is indispensable and such a high commodity in the beverage market, which no one can afford polluting it. Therefore, his company will not dispose of any contaminants or sewage in bodies of water before treating it by the rules and regulations mentioned above (Southwell, 2011).
Packaging and disposal of bottles are also a concern for his operations team. The high volume of bottles traveling through the manufacturing process, at extraordinary speeds the possibility of a crack or leak is bound to happen. For that reason, inspection of equipment will be intensified to ensure the integrity of the package, and that the beverage itself is not filled too high or too low to avoid or minimize waste and pollution of any kind.
Finally, the company is in the process of joining the Beverage Industry Environmental Roundtable (BIER), which is a coalition of leading beverage companies working together to advance environmental sustainability including; water, energy, climate, beverage containers, and recycling (BIER, 2013). His management team believes this will have a positive impact on the community by showing transparency and the seriousness of the environment.
Health Issues or Claims Related to the Product
Waddell’s operation team is aware herbal teas are extremely famous for the numerous medicinal qualities they should have. It's asserted herbal tea can help with everything from preventing blood circulation problems, weight control, and heartburn to battling contamination and sickness. They also understand teas can be made out of many plant materials, including a couple plants that are dangerous, the specific fixings must be checked independently for wellbeing and security (Natural Health, 2014).
Like many of his competitors that sell herbal teas as refreshments could be viewed as protected; however medicinal herbal teas could undoubtedly contain herbs that bring about harm in vast amounts. Herbal teas can likewise have diverse impacts from individual to individual, and this is further aggravated by the issue of potential misidentification. If a consumer is pregnant, nursing, taking prescription medications or have known allergies to certain foods or plants, caution and consultation with a physician or pharmacist are advised.
To mitigate some of the adverse claims, Waddell’s sales and management team are handing out brochures, pamphlets, and quick reference cards to its customers, about his products. This is important to ease the anxiety of consumers, so when it’s time to purchase Waddell’s Herbal Tea, the client is confident theirs no side effects.
Advertising and Distribution
The operations team will implement an advertising strategy that focuses on his target market (ages 30 and above). His company advertising will be honest and not deceptive and preceding dispersing a promotion. Advertisers must have sufficient substantiation for all target item guarantees.
Waddell's administration group has made a move against supplement makers, and in addition, in fitting circumstances, against advancement workplaces, wholesalers, and retailers, which are not being honest with their clients about the adverse effects of their refreshments. Being straight forward with the consumers are the best means of distribution and advertisement. The team segment of loyal customers believes in his brand, leadership, and trust that they are
The Financials
An introductory paragraph should appear here. Always use the MEAL plan to form complete paragraphs. For the financials, each spreadsheet page can appear in the document; however, this may result in a lot of dead space that will give the document a fragmented appearance. The more appealing option is to refer to the appendices. Simply have a discussion and refer to each element, then parenthetically direct the reader to the location of the spreadsheet (see Appendix A).
References
American Journal (2015). Polyphenols: Antioxidants and Beyond: Retrieved from:
http://ajcn.nutrition.org/content/81/1/215S.full
BIER (2013). Beverage Industry Environmental Roundtable. Retrieved from:
http://www.bieroundtable.com/
CNN Money (2015). PepsiCo's 'Pure Leaf' Brews Growth for its Tea Business. Retrieved
from: http://money.cnn.com/2015/04/17/news/companies/pepsi-coke-bottled-tea/
HG Legal Resources (2015). Environment Law - Environmental and Natural
Resources Law. Retrieved from: http://www.hg.org/environ.html
Medical Examiner (2012). Herbal Supplement Dangers, FDA Does Not Regulate.
Retrieved from:
http://www.slate.com/articles/health_and_science/medical_examiner/2012/11/herba supplemen_dangers_fda_does_not_regulate_supplements_and_they_can.html
Natural Health (2014). Herbal Teas That Benefit the Body and Spirit. Retrieved from:
http://healthtips24by7.blogspot.com/2014/12/herbal-teas-that-benefit-body-and-
spirit.html
New York Times, (2015). Beverages – Non Alcohol. Retrieved from:
http://markets.on.nytimes.com/research/markets/usmarkets/industry.asp?industry=54113§or=54
PR News Wire (2014). The Future is Green and Herbal - Global Markets, Competitors
and Opportunities - 2013-2018 Analysis and Forecasts. Retrieved from:
http://www.prnewswire.com/news-releases/tea-the-future-is-green-and-herbal---
global- markets-competitors-and-opportunities---2013-2018-analysis-and-forecasts-240079191.html
QVC (2012). How to Become A QVC Vendor. Retrieved from:
http://vendorportal.qvc.com/SitePages/How%20to%20Become%20a%20QVC% 20Vendo
Small Business Chronicle (2015). The Importance of Defining a Target Market.
Retrieved from: http://smallbusiness.chron.com/importance-defining-target-
market-69728.html
Southwell, I. A., Russell, M. F., & Davies, N. W. (2011). Detecting traces of methyl
eugenol in essential oils: tea tree oil, a case study. Flavour and Fragrance Journal, 26(5), 336-340.
Stewart,G.L. & Brown, K.G.(2012). Human Resource Management (2nd ed.).Hoboken
NJ: John Wiley & Sons Inc.
Strategy & Business (2014). Five Essential Elements of the Digital Workplace. Retrieved
from: http://www.strategy-business.com/blog/Five-Essential-Elements-of-the- Digital-Workplace?gko=eebed
Tea Association (2024). Tea Fact Sheet. Retrieved from:
h ttp://www.teausa.com/14655/tea-fact-http://www.teausa.com/14655/tea-fact-s heet
Top 10 ERP (2015). ERP Software Systems Index for Manufacturing. Retrieved from:
http://www.top10erp.org/syspro-products-advantages- 2?gclid=CPz228G2usUCFdKEfgodBH8Azw
Appendix A: Table A
# Salaried Employees
0.00
0.00
0.00
0.00
0.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
Avg Salary per employee
$0
$0
$0
$0
$0 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $14,000
Benefits (across all employees) $0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$833
$600
$833
$600
$833
$600
$833
$600
$833
$600
$833
$600
$833
$600
$5,833
$4,200
Total Costs $0
Administrative/Support
$0
$0
$0
$0 $5,433 $5,433 $5,433 $5,433 $5,433 $5,433 $5,433 $38,033
# Salaried Employees
Avg Salary per employee
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
$0
Benefits (across all employees) $0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Sales/Marketing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
# Salaried Employees
600.00 500.00 200.00 250.00 400.00 710.00 1901.00 2000.00 1212.00 8831.00 3233.00 753.00 e
Avg Salary per employee $2,500 $1,500 $9,098 $5,000 $2,300
$900
$500
$250
$555
$212 $1,313 $2,522 $26,650
Benefits (across all employees)$250,000 $208,333 $83,333 $104,167 $166,667 $295,833 $792,083 $833,333 $505,000 $3,679,583 $1,347,083 $313,750 $8,579,167
Payroll Taxes (across all employees)$225,000 $112,500 $272,940 $187,500 $138,000 $95,850 $142,575 $75,000 $100,899 $280,826 $636,739 $284,860 $2,552,689
Total Costs
Operations/Production
$1,975,000 $1,070,833 $2,175,873 $1,541,667 $1,224,667 $1,030,683 $1,885,158 $1,408,333 $1,278,559 $5,832,581 $6,228,752 $2,497,676 $28,149,783
# Salaried Employees
0.00
0.00
0.00
0.00
0.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Avg Salary per employee
$0
$0
$0
$0
$0 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $21,000
Benefits (across all employees) $0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$417
$450
$417
$450
$417
$450
$417
$450
$417
$450
$417
$450
$417
$450
$2,917
$3,150
Total Costs $0
Other
$0
$0
$0
$0 $3,867 $3,867 $3,867 $3,867 $3,867 $3,867 $3,867 $27,067
# Salaried Employees
Avg Salary per employee
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
0.00
$0
$0
Benefits (across all employees) $0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Part-Time / Hourly Employees
# Part-Time Employees
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
Avg. Hours per Hourly Employee 20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
Avg Hourly Rate
$10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00
Calculated Wages Per Hourly Employee $200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$2,400
Wages
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$2,400
Benefits (across all employees) $8
Payroll Taxes (across all employees)$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$8
$30
$100
$360
Page 1 of 6
Total Costs
TOTAL
# Full Time Employees
# Part-Time Employees
$238
600
1
$238
500
1
$238
200
1
$238
250
1
Staffing Budget
$238 $238
400 713
1 1
$238
1,904
1
$238
2,003
1
$238
1,215
1
$238
8,834
1
$238
3,236
1
$238
756
1
$2,860
Salary/Wages
Benefits
Payroll Taxes
$1,500,200 $750,200 $1,819,800 $1,250,200 $920,200 $646,200 $957,700 $507,200 $679,860 $1,879,372 $4,252,129 $1,906,266 $17,069,327
$250,008 $208,342 $83,342 $104,175 $166,675 $297,092 $793,342 $834,592 $506,258 $3,680,842 $1,348,342 $315,008 $8,588,017
$225,030 $112,530 $272,970 $187,530 $138,030 $96,930 $143,655 $76,080 $101,979 $281,906 $637,819 $285,940 $2,560,399
GRAND TOTAL COSTS $1,975,238 $1,071,072 $2,176,112 $1,541,905 $1,224,905 $1,040,222 $1,894,697 $1,417,872 $1,288,097 $5,842,119 $6,238,290 $2,507,214 $28,217,743
Page 2 of 6
Staffing Budget
Management
2016
May
June
July
Staffing Budget
August September October November December January February March
April
TOTAL
# Salaried Employees
2.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
0.00
0.00
0.00
0.00
Avg Salary per employee
$2,070 $2,070 $2,070 $2,070 $2,070 $2,070 $2,070 $2,070
$0
$0
$0
$0
$16,560
Benefits (across all employees)
$875
$875
$875
$875
$875
$875
$875
$875
$0
$0
$0
$0
$7,000
Payroll Taxes (across all employees)
$621
$621
$621
$621
$621
$621
$621
$621
$0
$0
$0
$0
$4,968
Total Costs
Administrative/Support
$5,636 $5,636 $5,636 $5,636 $5,636 $5,636 $5,636 $5,636
$0
$0
$0
$0
$45,088
# Salaried Employees
Avg Salary per employee
Benefits (across all employees)
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Sales/Marketing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
# Salaried Employees
Avg Salary per employee
1541.00 7645.00 8311.00 4131.00 2331.00 7685.00 4433.00 5345.00 3254.00 7612.00 424.00 4144.00
$7,143 $314 $712 $7,843 $1,344 $766 $656 $242 $0 $84 $2,331 $24
$21,459
Benefits (across all employees)
$674,188 $3,344,688 $3,636,063 $1,807,313 $1,019,813 $3,362,188 $1,939,438 $2,338,438 $1,423,625 $3,330,250 $185,500 $1,813,000 $24,874,500
Payroll Taxes (across all employees)
$1,651,104 $360,080 $887,615 $4,859,915 $469,930 $883,007 $436,207 $194,024
$0 $95,911 $148,252 $14,918 $10,000,962
Total Costs
Operations/Production
$13,332,655 $6,105,297 $10,441,109 $39,066,660 $4,622,606 $10,131,904 $5,283,693 $3,825,951 $1,423,625 $4,065,569 $1,322,096 $1,927,374 $101,548,540
# Salaried Employees
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
0.00
0.00
0.00
0.00
Avg Salary per employee
$3,105 $3,105 $3,105 $3,105 $3,105 $3,105 $3,105 $3,105
$0
$0
$0
$0
$24,840
Benefits (across all employees)
$438
$438
$438
$438
$438
$438
$438
$438
$0
$0
$0
$0
$3,500
Payroll Taxes (across all employees)
$466
$466
$466
$466
$466
$466
$466
$466
$0
$0
$0
$0
$3,726
Total Costs
Other
$4,008 $4,008 $4,008 $4,008 $4,008 $4,008 $4,008 $4,008
$0
$0
$0
$0
$32,066
# Salaried Employees
Avg Salary per employee
Benefits (across all employees)
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
0.00
$0
$0
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Part-Time / Hourly Employees
# Part-Time Employees
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
1
$0
0
$0
0
$0
0
$0
0
$0
Avg. Hours per Hourly Employee 20.0
20.0
20.0
20.0
20.0
20.0
20.0
20.0
0.0
0.0
0.0
0.0
Avg Hourly Rate
$10.35 $10.35 $10.35 $10.35 $10.35 $10.35 $10.35 $10.35
$0.00
$0.00
$0.00
$0.00
Calculated Wages Per Hourly Employee
$207
$207
$207
$207
$207
$207
$207
$0
$0
$0
$0
$1,656
Wages
Benefits (across all employees)
$207
$9
$207
$9
$207
$9
$207
$9
$207
$9
$207
$9
$207
$9
$207
$9
$0
$0
$0
$0
$0
$0
$0
$0
$1,656
$70
Payroll Taxes (across all employees)
$31
$31
$31
$31
$31
$31
Page 3 of 6
$31
$31
$0
$0
$0
$0
$248
Total Costs
TOTAL
# Full Time Employees
# Part-Time Employees
$247
1,544
1
$247
7,648
1
$247
8,314
1
$247
4,134
1
Staffing Budget
$247 $247
2,334 7,688
1 1
$247
4,436
1
$247
5,348
1
$0
3,254
-
$0
7,612
-
$0
424
-
$0
4,144
-
$1,974
Salary/Wages
$11,014,815 $2,407,982 $5,924,884 $32,406,885 $3,140,316 $5,894,162 $2,915,500 $1,300,942
$0 $639,408 $988,344 $99,456 $66,732,694
Benefits
$675,509 $3,346,009 $3,637,384 $1,808,634 $1,021,134 $3,363,509 $1,940,759 $2,339,759 $1,423,625 $3,330,250 $185,500 $1,813,000 $24,885,070
Payroll Taxes
$1,652,222 $361,197 $888,733 $4,861,033 $471,047 $884,124 $437,325 $195,141
$0 $95,911 $148,252 $14,918 $10,009,904
GRAND TOTAL COSTS
$13,342,546 $6,115,188 $10,451,000 $39,076,552 $4,632,497 $10,141,795 $5,293,584 $3,835,842 $1,423,625 $4,065,569 $1,322,096 $1,927,374 $101,627,668
Page 4 of 6
Staffing Budget
2017
Staffing Budget
2018
2019
Management
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter TOTAL
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter TOTAL
TOTAL
# Salaried Employees
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Avg Salary per employee
Benefits (across all employees)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Administrative/Support
# Salaried Employees
Avg Salary per employee
Benefits (across all employees)
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
$0
$0
$0
0.00
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Sales/Marketing
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
# Salaried Employees
544.00 7655.00 342.00 643.00
4223.00 1232.00 323.00 1236.00
436.00
Avg Salary per employee
$7,764
$987 $5,544
$775
$15,070
$876
$43 $6,434
$675
$8,028
$655
Benefits (across all employees)
$749,700 $10,549,547 $471,319 $886,134 $12,656,700 $6,110,813 $1,782,743 $467,391 $1,788,531 $10,149,477 $2,649,804
Payroll Taxes (across all employees)
$633,542 $1,133,323 $284,407 $74,749 $2,126,021 $554,902 $7,946 $311,727 $125,145 $999,721
$42,837
Total Costs
Operations/Production
$5,606,858 $19,238,355 $2,651,774 $1,459,208 $28,956,195 $10,365,063 $1,843,665 $2,857,300 $2,747,976 $17,814,004 $2,978,221
# Salaried Employees
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Avg Salary per employee
Benefits (across all employees)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Other
# Salaried Employees
Avg Salary per employee
Benefits (across all employees)
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
0.00
$0
$0
$0
$0
$0
$0
0.00
$0
$0
Payroll Taxes (across all employees)$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Costs
Part-Time / Hourly Employees
# Part-Time Employees
Avg. Hours per Hourly Employee
Avg Hourly Rate
$0
0
0.0
$0.00
$0
0
0.0
$0.00
$0
0
0.0
$0.00
$0
0
0.0
$0.00
$0
$0
0
0.0
$0.00
$0
0
0.0
$0.00
$0
0
$0.00
$0.00
$0
0
$0.00
$0.00
$0
$0
0
0.0
$0.00
Calculated Wages Per Hourly Employee
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Wages
Benefits (across all employees)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Management Plan
Management & Organization
At this time, Waddell’s Herbal Tea has seven employees that are on payroll, which are; computer expert, master mixer, production foreman, senior executive from the Federal Trade Commission, two outside sales representatives and himself. Waddell also has a host of family and friends that is presently helping as drivers and custodians at various facilities.
An introductory paragraph should appear here. Always use the MEAL plan to form complete paragraphs.
President
VP
Operations
Comptroller
VP
Bottling
VP
Sales
VP
Marketing
