Eyes Vision is a company that was born with a vision to better other people's lives. The idea came when the founder, Katty overheard an Autism care support staff talking about the misgivings of the AAC software they regularly use. The goal of creating a better platform for both those that work with and use AAC solutions in their daily lives.

The Industry that Eyes Vision will be competing in is the Augmentative and Alternative Communication (AAC)application industry which is a niche market that operates within the broader assistive technology and healthcare fields. The primary focus is in developing, manufacturing, and distributing products and services that specifically provide communication solutions for people with speech or language impairments. The industry is driven by a core objective of improving communication and enhancing the overall quality of life for individuals who rely on AAC solutions.

We at Eyes Vision have done preliminary research on the characteristics and trends of the AAC application industry. What we found shaped our future projections for what we want from our product.

The preliminary research couldn't indicate the exact market cap of the augmentative and alternative communication industry, however there was indication of growth throughout 2023 and onwards. This is due to the increase in prevalence of speech and language disorders according to the National Institute on Deafness and Other Communication Disorders, "Boys ages 3-17 are more likely than girls to have a voice, speech, language, or swallowing disorder (9.6 percent compared to 5.7 percent)". The growing awareness and acceptance of AAC solutions, and the technological advancements in the field are some of the key factors driving the market growth.

Product and Service Offerings Electronic communication aids allow the user to use picture symbols, letters, and/or words and phrases to create messages.

Sales and Marketing Plan

Eyes Vision's primary goal is to improve the lives of individuals who are living on the spectrum and assist by work to connect those with things to say to those who want to listen. We make listening easier. As mentioned within the product and services offerings we will be having one tier for a pricing model. To ensure that this is accessible for all users and to reduce barriers for entry the price will be $4.99 CAD for the users.

While user sales will be a portion of total revenue earned, the main source of income will be from B2B sales. As a result, we will be focusing less on marketing the product through traditional mediums like paid social ads, print or web. Instead this will be through business partnerships within organizations like Health Canada, Autism Society of Ontario and Educational Boards.the usertate your business's mission. By connecting with these large organizations and teaching them about the benefits of Language Spark, they in turn will connect with their stakeholders and communicate the value for them. We will still be running and managing our own Facebook, Instagram and Blog pages, however this will be targeting the consumers more than other businesses. Most of our Marketing will be directly focused on targeting the main institutions indicated above. As a result, the marketing we will conduct will be unique. We will employ our own sales team who is responsible for acting as a liaison for our business and their business. Their primary role is to connect with the organizations and answer questions about our app, and essentially train the contacts within the organizations, so they can in turn become salespeople and communicate the value of the app and drive more users. The Language Spark Liaison will be compensated at an annual salary of $ 60,000, as the business grows so will our sales team. While we are just starting, they will be a small team of two individuals.

Ownership Structure and Management Plan

Eyes Vision will operate as a Partnership, as this business will be operating with multiple owners, this will allow for a clear understanding when it comes to ownership based on Canadian legislation. Eyes Vision has 4 main directors: Katty - CEO, John - CFO, Jay - COO, and Danny - CMO. The business has been formed with equal investments from all four partners. As a result the division of equity will be 25% each as there has been no additional investment from outside sources. Upon entering the agreement a General Partnership agreement has been drafted, this will protect the business as each partner will be liable for any debts and obligations that the business occurs during its operation.

 

Questions. 

1. Demonstrate the potential growth and profitability of Eyes Vision. 

2. Make a projected income statement (Word doc).

 

3. Make a projected cash flow statement (Word doc).

4. Make a projected balance sheet (Word doc).

5. Provide a break-even analysis.

*Note that the company has two more people salaried at 60k per year. All other socials will be free as they are targeting the organization.

Answer rating: 100% (QA)

Analyzing Eyes Visions Potential and Projections Demonstrating Potential Growth and Profitability Eyes Vision has several factors favoring its potenti... View the full answer