InstaDorm

YOUR PERFECT DORM ROOM, ALL BUNDLED UP

Shria Arul, Chase Courville, Nick Giguere, Chloe Welch, Tomas Zita
December 12th, 2019

Table of Contents
Executive Summary 1
Business Concept/Product Description 2
Returns 5
The Keys to Success 6

0
 Value Proposition 6
Benefit to Consumers 6
Benefit to TJX 7
Market Analysis 8
Target Market 8
Competition 9
S.W.O.T. Analysis 10
Financial Plan 13
Supply Chain 16
Suppliers 16
Equipment Needed 18
Marketing Plan 19
Physical Marketing 19
Virtual Marketing 20
Human Resources 23
Past Experiences 23
Specific Responsibilities 24
Personnel and Culture 26
Personnel Plan 26
Organizational Culture 27
Appendix 28
Figure 1 - Sample Flyer 28
Figure 2 - Revenue Chart 29
Figure 3 - Budget 29
Details About Costs 31
Figure 4 Target Market 33
Figures 5-11 Survey Responses 34
Figure 12 - Growth of College Students in the US 38
Sources 39
Business Pitch Presentation Slides 43

Executive Summary

InstaDorm is looking to partner with TJX’s branch, HomeGoods, to create attractive dorm room

bundles sold on university campuses during move-in week. InstaDorm is able to benefit the consumer

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with the convenience of purchasing a prepackaged bundle on-campus. The service will be beneficial for

TJX because it will expand TJX’s customer basis and target market to include Generation Z.

InstaDorm is looking to expand TJX’s current target market to Generation Z because they

currently have a purchasing power of $143 Billion 1. They will accomplish this by directly targeting

college students. InstaDorm’s initial market will be three major Boston based universities: Boston

University, Boston College, and Northeastern. During the first year in business, the projected market

size is 48,400 students (Figure 4). In the long run, InstaDorm plans on expanding to more colleges

throughout the US, while the number of college students continues to expand in the US (Figure 12).

One of InstaDorm’s competitive advantages over other businesses it that each bundle is unique

and caters to the individualized personality of Generation Z. Secondly, the convenience factor of selling

the bundles on campus will appeal to the average college student, as a survey showed that 57 percent of

students said that convenience is “very important” to their shopping experience (Figure 6). None of

InstaDorm’s competitors have the same combination of convenience, accessibility, and style.

Our business model’s main cost is our inventory or liquid capital. Excluding the costs of buying

our products from TJX, for our first year, we will require $31,179 in startup costs. Half of that sum,

$15,589, will be provided by the founders, while the other half will be obtained through the form of a

bank loan. InstaDorm will pay TJX 98% of the in-store price for each product sold in its bundles, which

will generate $1.5 million dollars of revenue for TJX over their first three years of business.

Business Concept/Product Description

InstaDorm creates unique dorm room supply bundles using HomeGoods merchandise and offers

a convenient way for students to obtain all of the basic dorm room essentials without having to leave

1
C. Cakebread, “Here Are the Top Four Things Retailers Need to Know About Gen Z.” EMarketer, EMarketer, 1 Apr. 2019,
www.emarketer.com/content/what-retailers-need-to-know-about-gen-z.
2
their campus. InstaDorm was conceptualized after the members of the founding team found their own

dorm shopping process to be time consuming and overwhelming. College students want to have a stylish

dorm as a survey by HGTV found that 82% of students consider dorm decor to impact the perception of

students’ happiness 2. The extensive amount of time and effort that goes into visiting multiple stores and

purchasing each individual item seemed like an ‘inconvenience’ that could be easily solved by creating

an ‘all-inclusive’ package brought straight to the customer by means of a pop-up store on college

campuses during move-in week.

InstaDorm seeks to maximize convenience for customers by providing numerous buying

opportunities. While classes may not start until fall, many college campuses are busy throughout the late

spring and summer preparing for the next freshman class. Based on a survey conducted by InstaDorm,

35% of college students buy their dorm supplies before their move-in week (Figure 5). Events like

Accepted Students Day and Orientation allow InstaDorm to capitalize on multiple selling windows.

Even if students are from another state or country, InstaDorm will allow them to purchase their bundle

in advance and pick it up on move-in day.

Once at the campuses pop-up tents will be set up. Each will consist of 10 collapsible tables and a

banner with the InstaDorm and HomeGoods logo. The bundles will be sold from 8am-7pm every day of

the move-in week. InstaDorm will communicate with the university campuses in advance to make sure

the tents are in convenient areas that still have the most foot traffic. At the end of the day, everything

will be packed up and transported back to the warehouse where inventory will be taken to figure out

what is leftover and what else may need to be restocked; if restocking is needed then employees will

return to the TJX distribution center.

2
“Discovery, Inc.” Discovery Inc, 1 Aug. 2019, corporate.discovery.com/discovery-newsroom/hgtv-survey-reveals-dorm-
room-decor-impacts-students-happiness/.
3
 InstaDorm will create three different types of bundles to accommodate the different needs and

preferences of students: the Dorm Bundle, the Basic Bundle, and the Decoration Bundle.

● The Basic Bundle:

■ Sheets and pillowcases

■ Duvet

■ Hangers

■ Towels

○ This bundle will cost InstaDorm an average of $60 per bundle

○ InstaDorm will charge $80 per bundle

● The Dorm Bundle:

■ Sheets and pillowcases

■ Duvet

■ Throw pillow

■ Throw blanket

■ Hangers

■ Towels

○ This bundle will cost InstaDorm an average of $105 per bundle

○ InstaDorm will charge $130 per bundle

● The Decorations Bundle:

■ Wall decorations

■ Desk organizer

■ Fairy lights

■ Picture frame

■ Planting pot

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 ○ This bundle will cost InstaDorm an average of $45 per bundle

○ InstaDorm will charge $65 per bundle

The decoration bundle will always have five items, but due to TJX’s varying inventory, its exact

contents may vary from the list above.

For the customer, the shopping process is simple, and the purchasing of a bundle can be done at

two times:

1) During orientation, first year students can browse the assorted bundles at the tents located on

campus and choose their preferred selection. They then pay for the product, but do not have to

take the bundle home; InstaDorm will store the bundle and deliver it to campus during move in

week. The customers will have to provide their name and date that they would like to receive the

bundle.

2) During Move-in Week, students who choose to buy the bundles during move-in week will again

browse the bundle selections, pay, and take their bundle with them immediately.

All transactions will be cash, credit or debit.

Returns

Since the bundles come as a package, customers will not be able to return individual items,

however they will be able to return the entire bundle via mail to the InstaDorm warehouse. To return the

bundle, the consumer will have to use the instore InstaDorm email, to receive the mailing address. The

customer will have to pay for shipping. The consumer will get a full refund if the items are all accounted

for, are in good condition, and are mailed back within 25 days of purchase. For bundles purchased

during orientation week, customers will have a 10-business day window to call and cancel their order

and receive a refund.

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 InstaDorm’s strategy is simple. Success of the company will be achieved by providing a product

that will benefit customers and supplier, HomeGoods. This will be achieved by combining convenience

and price to move a large quantity of product.

The Keys to Success

● To create a partnership with TJX distribution centers in order to obtain a continuous supply of

inventory

● To foster a relationship with universities in order to easily reach the target market

● To establish a customer basis and a positive reputation with students to ensure customer loyalty

● To offer bundles that have quality, stylish goods at a reasonable price

Value Proposition

Benefit to Consumers

InstaDorm seeks to maximize convenience for customers by giving them numerous buying

opportunities. On average, an American college student only has 2.2 hours per week for all ‘other’

activities, including shopping 3. When asked during a survey, 77% of students said they would be

interested in buying dorm supply bundles on campus (Figure 9). InstaDorm allows students to get

quality and stylish dorm room supplies while eliminating the extensive amount of time the traditional

shopping experience would have taken them. There are currently no companies or services that provide

pre-packaged dorm room bundles on campus. Furthermore, by using HomeGoods products, we are

ensuring that each consumer will receive the FBQP that has made TJX a Fortune 100 company.

3
D. Thompson. “Your Day in a Chart: 10 Cool Facts About How Americans Spend Our Time.” The Atlantic, Atlantic Media
Company, 26 June 2012, www.theatlantic.com/business/archive/2012/06/your-day-in-a-chart-10-cool-facts-about-how-
americans-spend-our-time/258967/.
6
Benefit to TJX

TJX has only ever been able to reach 25 percent of their target market, but InstaDorm’s

partnership will open up the stores market to Generation Z. In a survey of college students, 82% said

they would be more likely to shop at HomeGoods if they were satisfied with their bundle (Figure 8).

This could make HomeGoods even more attractive to Generation Z which is estimated to be the largest

consumer population in the United States by 20264. With over 82 million people in total, Generation

Zers ages 16 to 21 alone spend an estimated $143 billion a year 5. InstaDorm will charge HomeGoods a

$100,000 promotional fee for the introduction of this new target market and advertising, as well as

receiving a 2% fee on each item InstaDorm sells.

4
“Generation Z: Latest Gen Z News, Research, Facts & Strategies.” Business Insider, Business Insider,
www.businessinsider.com/generation-z?r=US&IR=T.
5
C. Cakebread. “Here Are the Top Four Things Retailers Need to Know About Gen Z.” EMarketer, EMarketer, 1 Apr. 2019,
www.emarketer.com/content/what-retailers-need-to-know-about-gen-z.
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Market Analysis

The number of students attending US universities is expanding at an impressive rate with a

potential increase of 23% by 2030 6, while the packaging industry is expected to grow by 4.1% between

2019-20247. There are 20 million college students 8 in the US, 150,000 college students in Boston,

70,000 students attending NEU, BC, and BU, and 48,400 students living on these campuses (Figure 4).

The size of the initial target market of InstaDorm relative to the number of students in Boston and the

US shows the potential of the Generation Z market.

Target Market

COLLEGE STUDENTS

InstaDorm’s target market are students from Northeastern, Boston University, and Boston

College. After conducting a survey of roughly 100 college students, it was found that 77% of students

6
H. Richardson,“University Place Demand to Grow by 300,000 by 2030.” BBC News, BBC, 15 Mar. 2018,
www.bbc.co.uk/news/education-43399089.
7
“United States Packaging Industry Growth, Trends, and Forecasts to 2024 - Plastic Material Expected to Hold Significant
Market Share - ResearchAndMarkets.com.” Business Wire, 12 July 2019,
www.businesswire.com/news/home/20190712005322/en/United-States-Packaging-Industry-Growth-Trends-Forecasts.
8
“Back to School Statistics.” NCES, 2019, https://nces.ed.gov/fastfacts/display.asp?id=372
9
A. Lima, et al, “Boston By the Numbers, Colleges and Universities.” Boston Plans, Boston Redevelopment Authority ,
Mar. 2011, http://www.bostonplans.org/getattachment/1770c181-7878-47ab-892f-84baca828bf3.
8
would be interested in buying at least one bundle (Figure 9). Acknowledging that it is unlikely that the

entire 77% will buy the bundles, a conservative estimate has been taken of 10% of students as

customers. This would equate to 4,840 sales in the first year. With the number of people attending

college on the rise, as well as the expanding and highly profitable Generation Z market, InstaDorm

expects successful growth in the future.

TJX currently has a target market of 25 to 54-year-old women, of which they have only been

able to reach 25 percent of. Meanwhile, Generation Z makes up 40% of all consumers in the United

States and has about 143 billion dollars in spending power10. InstaDorm looks to introduce TJX to this

market by targeting said college students.

Competition

InstaDorm’s main competitors are Bed Bath & Beyond, Target, Amazon, and DormCo. Bed

Bath & Beyond has a cart system where the customer can buy dorm supplies ahead of time and pick

them up at a later date. However, InstaDorm’s bundle system is more convenient for the customer, since

they will not have to leave campus to obtain their supplies. Also, InstaDorm’s prices, when compared to

Bed Bath & Beyond, are cheaper; the same items in the Basic Bundles would could $120 from Bed Bath

and Beyond11. Compared to Target, InstaDorm has competitive prices, however the main advantage for

consumers is again the on-campus location and ease of having a pre-made bundle. InstaDorm is also

able to compete with Amazon because customers do not have to wait for shipping and are able to see the

products in person. Finally, there is DormCo., InstaDorms most similar competitors, who also offer

college bundles. InstaDorm offers prices that can compete with theirs ($160 for the “College Dorm

Essential Set”)12 and has the advantage of giving customers the opportunity to see the bundles in person.

10
C. Cakebread, “Here Are the Top Four Things Retailers Need to Know About Gen Z.” EMarketer, EMarketer, 1 Apr.
2019, www.emarketer.com/content/what-retailers-need-to-know-about-gen-z.
11
“Bed Bath & Beyond.” Bed Bath & Beyond.com https://www.bedbathandbeyond.com/
12
“DormCo.”DormCo.com,https://www.dormco.com/
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S.W.O.T. Analysis

Positive Negative

Interal Strengths Weakness

● Price competitive ● Lack of experience

● Personal experience as college ● Limited initial workforce

students ● Short period of time for selling

● Mobility

● Convenience

External Opportunities Threats

● Nationwide expansion ● Variable source of inventory

● Sell InstaDorm ● Interest

● New deals/partnerships ● Increased competition

● Rise in oil prices

● Weather

The main strength InstaDorm offers is the convenience factor to the consumers; a trait that is

very important amongst Generation Z. This was shown in a survey of college students in which 57% of

respondents prioritized convenience (Figure 6). The number of college students in the US is increasing,

therefore, expanding the potential target market (Figure 12). Compared to InstaDorm’s competition, the

price competitiveness of InstaDorm is a major strength. Because the co-founders are in Generation Z,

personal input and experience of the cofounders will help InstaDorm stay competitive. When the co-

founders get older, they will hire younger employees for their input and do research to understand the

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latest trends. The mobility of the business is also a strength of the company as the products can be

deployed and sold across the country without needing to buy a permanent space for a retail store.

One weakness of the company is the lack of experience the group has in the workforce and in the

market. Another weakness is that the stock must be collected several months before move-in week in

order to obtain enough inventory and have time to create the bundles. Because InstaDorm is a new

company, there will be a limited workforce and a variable source of inventory. Finally, another

weakness of the company is the fact that the bundles will not be sold year-round (the bundles will only

be sold during orientation days and move-in weeks). This means that InstaDorm will only be selling

products a few weeks out of the year.

The company has many opportunities for expansion in New England and the rest of the country.

Due to the versatility of the bundles, they can easily be marketed to any university. It is evident to

InstaDorm that not every student has the same needs when it comes to dorm supplies. To solve this

problem, InstaDorm will offer different types of bundles that vary in both content and style. InstaDorm

plans to expand to other US universities after the first years of operation. Because of the close

relationship with TJX, there is the opportunity that InstaDorm will be bought by TJX or another

company. When the company gets recognized as a dorm bundle supplier, InstaDorm will have the

potential to get deals and partnerships with other universities and distributors.

Some threats to the company include the unreliability of inventory by TJX. The company

revolves around the fact that TJX provides the materials to make the bundles, so if TJX has limited

inventory or decides to stop supplying InstaDorm, it will be important to quickly find another reliable

source. Another threat to the business is the possibility of students not showing as much interest in the

products as expected. This could potentially result in a surplus of product. Direct competition is also

likely to occur, as other companies begin to target Gen Z. Raising the cost of goods purchased from TJX

is also a threat to the company as students might decide that our convenience factor is not worth the

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slightly marked up prices. Other external threats include a rise in oil prices and harsh weather

conditions. This could negatively affect the profit margins of the company, seeing as how all goods will

be transported by truck and our pop-up stores will be located outdoors and are therefore vulnerable to

natural forces.

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Financial Plan

InstaDorm plans to get the majority of its sales during move-in week in both September and

January. During these times students are interested in buying their dorm basics for the school year.

Based on an InstaDorm survey, 57% of students bought most of their dorm supplies during move-in

week (Figure 5). To attract customers, InstaDorm will offer the same shopping experience as

HomeGoods where the customer is on a treasure hunt. Since each of the bundles is filled with

HomeGoods products, bundles will be unique, and thus provide students with their own bundle that

speaks to their personality.

InstaDorm is confident in its ability to generate profits even with conservative sales estimates.

InstaDorm’s sales strategy is to start off by selling bundles to on campus students at three of the major

universities in Boston: Boston College, Boston University, and Northeastern University. This totals to a

market of roughly 48,400 students (Figure 4). InstaDorm expects to capture about 10% of this target

market, or 4,840 sales in the first year. InstaDorm plans to grow at the same rate as back to school

spending is growing in the United States, 11% per year13. This will give InstaDorm 11.1% of its target

market in year two and 12.3% in year three.

In the second year, InstaDorm looks to expand its market to the University of Connecticut’s main

campus, adding another 12,400 on-campus students to the market, bringing the total to 60,800

students14. InstaDorm decided to expand to the University of Connecticut because of its close proximity

to its warehouse in Hartford, and its earlier move-in week. These factors will allow InstaDorm to expand

without too much additional strain on the business, thus allowing InstaDorm to continue operations with

one truck. In the third year, InstaDorm will purchase another truck and expand again by selling its

13
“Back-to-School and College Spending to Reach $75.8 Billion.” NRF, 20 July 2016, https://nrf.com/media-center/press-
releases/back-school-and-college-spending-reach-758-billion.
14
“Here's What Student Life Is Like At University of Connecticut.” U.S. News & World Report, U.S. News & World Report,
https://www.usnews.com/best-colleges/uconn-29013/student-life.
13
bundles at Harvard University. Harvard has 22,000 on campus students which increases InstaDorm’s

target market to 82,800 students and its sales to almost 9,50015. Looking beyond the third year,

InstaDorm will continue to grow by expanding to other major universities in the Boston area such as the

University of Massachusetts-Boston and the University of Massachusetts-Lowell.

Based on a survey, InstaDorm expects sales of the basic and dorm bundles to each be about 45%

of their sales, or 2,178 bundles each in the first year. They also expect about 10% of their sales to come

from the decoration bundle, creating 484 decoration bundle sales in the first year (Figure 11).

Beyond bundles, InstaDorm will generate revenue through a $100,000 promotional fee to TJX.

InstaDorm believes that this annual fee is justified since according to an InstaDorm Survey, 82% of

respondents would be more likely to shop at HomeGoods after a positive experience with InstaDorm

(Figure 8). Even if only 20% of these students actually shop at HomeGoods even once this would

generate $218,000 in revenue for TJX throughout the first three years of operation (assuming they spend

average transaction of $50 in-store). In addition, some of these customers might become lifetime TJX

customers, which would generate even more revenue.

To make this plan work, InstaDorm will need funding in the first three months. In these months

the company will be faced with upfront costs; warehouse rental, purchasing store supplies, purchasing a

used truck, and other expenses outlined in the pro-forma cash budget (Figure 3). This will amount to a

debt of $31,179. To fund this, InstaDorm plans to use $15,589 from its founders and obtain the rest in

the form of a bank loan. Since this is a relatively low-cost business, InstaDorm will be able to pay off

this debt with the sales from the last nine months of the first year of business.

In terms of revenue, InstaDorm plans to increase its revenue each year as shown in the chart in

the Appendix (Figure 2) and the pro-forma cash budget (Figure 3). Most of this revenue will go toward

paying HomeGoods for their products, while the rest will go toward other expenses and profit. At the

15
“Student Life.” Harvard University, https://www.harvard.edu/about-harvard/harvard-glance/student-life.
14
end of the first three years, InstaDorm will have a running profit of $269,861 with $159,185 coming in

the last year. The success of this third year speaks to the future profitability of the company and its long-

term success.

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Supply Chain

InstaDorm’s headquarters and packaging center will be located in Connecticut at 179-221 Park

Ave East Hartford, CT 0610816 where the company will rent out a 1,500SF warehouse (at $536 per

month) with access to a loading dock. This location was chosen for several reasons:

● Connecticut has a lower minimum wage compared to Massachusetts making the cost of labor

more affordable ($10.10/h compared to $12.00 17)

● The building is available now and has a negotiable lease length

● The location is close to the HomeGoods distribution center (1415 Blue Hills Ave, Bloomfield,

CT 0600218; 12 miles and a 20-minute drive

● The space is large enough to allow for the packaging and storing of the bundles

At this location, sorting, packaging, and storing of bundles will be done. This location will also

act as the main office where employees will return to after selling the products on university campuses.

Suppliers

InstaDorm is looking to partner with TJX in order to have direct access to the brands and

companies already affiliated with HomeGoods. Only products supplied from the HomeGoods

distribution center will be used. The decision to partner with TJX is due to the access to quality goods

and brands at an affordable price and the simplicity of already having a variety of brands in one central

location.

16
M. Healy, “277-281 Garden StFeeding Hills, MA 01030West Hampden County.” 277-281 Garden St Feeding Hills, MA
01030 - Industrial Property for Lease on Showcase.com, www.showcase.com/277-281-garden-st-feeding-hills-ma-
01030/17171037/.
17
J. Brainerd, “State Minimum Wages: 2019 Minimum Wage by State.” State Minimum Wages | 2019 Minimum Wage by
State, www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx.
18
“Homegoods Distribution Center 1415 Blue Hills Ave Bloomfield, CT.” MapQuest,
www.mapquest.com/us/connecticut/homegoods-distribution-center-345960280.
16
 The only items which will be outsourced to other suppliers are the shrink wrap in which the

bundles will be packaged, as well as the promotional flyers. The shrink wrap will be purchased in bulk,

costing around $1,345 per year (Figure 3), and the flyers will be designed by the InstaDorm team, but

production will be outsourced to Alphagraphics. The flyer supplier was chosen because they are local to

Connecticut (Wallingford) and offer the most competitive price at $1,895 for 35,000 flyers 19.

The first step of the supply chain will be to go to the HomeGoods distribution center - located in

Bloomfield, CT- and select the InstaDorm inventory. For the first year, InstaDorm’s partnership with the

three universities will result in the sale of around 4,840 bundles. Because TJX’s inventory changes so

frequently, goods will be acquired over a series of four months. For the Bundles that are going to be sold

at the start of the fall semesters (late August to early September), the goods will start being obtained

from TJX in May. Although some goods are planned to be sold during the summer months (at

orientations) the majority of sales will be during the move-in week. The same process will be done for

the January semester. Again, InstaDorm will begin collecting several months earlier (in this instance,

October). By using the estimated sales numbers the employees of InstaDorm will try to ensure that the

correct number of products as well as styles that most suits the Generation Z demographic are obtained.

All inventory will be kept in the warehouse.

After this step, the goods will be transferred back to the InstaDorm packaging center. The

packaging process will be done in an assembly line style. Each item will be categorized by putting items

in groups (such as duvets, sheets, decorations) and then subcategories (by color, style, etc.). Once this is

done, team members will be in charge of combining the goods for each bundle. Several others will be in

charge of the packaging process, in which plastic wrap will be rolled around each bundle using a shrink-

wrapping technique. Then, a quality check will be carried out to make sure each bundle is orderly and

19
“Alphagraphics.” Printing Services, www.alphagraphics.com/centers/wallingford-connecticut-us517.html.
17
will keep track of the number of complete bundles. Finally, several workers will be in charge of loading

the bundles onto the truck.

Our next step will be to commute from the InstaDorm warehouse to university campuses. It is a

95-mile commute (1 hour 34 minutes) to Boston College, 98 miles (1 hour 36 minutes) to Boston

University and 100 miles (1 hour 36 minutes) to Northeastern. If any of the opening days overlap, then

the InstaDorm truck will distribute the ‘first truckload’ of bundles equally between campuses. After each

campus receives some bundles, the truck will reload at the warehouse and complete another circuit

between campuses. InstaDorm employees will be in charge of selling the bundles. It would be ideal to

keep the truck on location until the end of the day (in order to pack up the booth as well as the leftover

bundles). This means that permission from the universities to park on campus will be needed.

Equipment Needed

The business requires minimal capital.

InstaDorm will need to obtain:

● a trailer truck to transport the goods to and from the distribution center as well as the InstaDorm

warehouse. This truck will be used and purchased by InstaDorm

○ A commercial driver’s license and truck permit, which a member of the IstaDorm team

plans on obtaining

● Insurance for the truck, as well as the warehouse

● Twenty collapsible tables (Figure 3)

● Three pop up tents (Figure 3)

● Three banners (Figure 3)

● A shrink wrap machine (Figure 3)

● Three dollies (Figure 3)

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Marketing Plan

InstaDorm’s marketing will use a low budget marketing and advertising plan. The majority of

the company’s exposure will come through online advertising and social media presence as well as

flyers and university partnerships. Through a survey completed by consumers in our target market,

flyers remain the second most popular and successful form of advertising, and one of the most

accessible forms for our business (Figure 10). As a result of this data, InstaDorm will utilize both

physical and virtual flyers.

College students typically receive a physical or virtual envelope of documents and guides once

accepted to university. With this infrastructure already in place, through an agreement and slight fee of

printing for physical flyers, InstaDorm will be able to market their name and product to every single

accepted student. This will be the most effective form of advertising InstaDorm pursues because it

guarantees to reach all members of our target market. Not only does it guarantee this, but also prevents

InstaDorm from marketing to people outside the target market, saving money on advertising. InstaDorm

will be negotiating with the admissions departments of each university we target and will be printing the

flyers and delivering them to the schools (Figure 1).

Physical Marketing

Northeastern

● 15,000 students accepted in the class of 2023, 32.8% international 20

● Roughly two thirds, or 10,100 students receive physical acceptance envelopes

Boston University

● 12,000 students accepted in 2019, 21.3% international 21

20
“Undergraduate Admissions: Northeastern University.” Northeastern University Admissions, 2019,
www.northeastern.edu/admissions/.
21
“Academic Profile.” Academic Profile | Admissions, 2019, www.bu.edu/admissions/why-bu/academic-profile/.
19
 ● About 9,500 students receive physical acceptance envelopes

Boston College

● 14,500 students accepted 22, 8% international23

● About 13,400 students receive physical acceptance envelopes

This will bring the flyer printing to around 33,000 in total. InstaDorm will print around 35,000

flyers for the next academic year, as a buffer for larger class sizes and other unforeseen events. The print

will cost InstaDorm about $1,895 based on a quote received from Alphagraphics 24.

Virtual Marketing

When targeting the college student market, InstaDorm’s online presence is essential to

connecting with potential consumers and building the brand. Social media is the most important online

tool, being used by over 98% of college students in America 25. With such influence within the target

market, InstaDorm’s success will be based heavily off its ability or inability to connect to these students

via social media.

InstaDorm’s social media tag (Instagram and Twitter) will be promoted through the flyers sent to

next year’s students as well as printed on the price tag on each bundle. Through social media on various

platforms, InstaDorm plans on creating hashtag fueled lotteries for gift cards, as well as promoting some

of the bundle themes, and the dates the pop-up shop will be at various universities throughout their

22
“Admission.” Admission - Boston College, 2019, www.bc.edu/bc-web/admission.html.
23
“Boston College Class of 2023 Acceptance Rates & Admissions Statistics.” Top Tier Admissions, 2019,
www.toptieradmissions.com/resources/college-admissions-statistics/boston-college-class-of-2023-acceptance-rates/.
24
“Alphagraphics.” Printing Services, www.alphagraphics.com/centers/wallingford-connecticut-us517.html.
25
R. Griffin, “Social Media Is Changing How College Students Deal With Mental Health, For Better Or Worse.” HuffPost
US, 22 July 2015, https://www.huffingtonpost.co.uk/entry/social-media-college-mental-
health_n_55ae6649e4b08f57d5d28845?ri18n=true&guce_referrer=aHR0cHM6Ly9jb25zZW50LnlhaG9vLmNvbS9jb2xsZW
N0Q29uc2VudD9zZXNzaW9uSWQ9M19jYy1zZXNzaW9uXzI0MWJlNmU5LTFkZWEtNGRkOC05ZmRhLWRkN2RkZ
TcxMzI1NCZsYW5nPWVuLXVzJmlubGluZT1mYWxzZQ&guce_referrer_sig=AQAAADc93Qu8Z9IIZgOvNOg1QfflQxn
j2_4Dy92yWVADSxV3lCo1LYQS5Trro9r-F2JldtpRhf_tH0MBuC5mT6SQOXEifzTONHkuhevgWrLz_pfmq0zDrSIfSvO-
NYrb4MzsdC4B866kCKYndJuMqkwMNHf0I_gn8szHL9v0znKcnQQf.
20
move-in weeks. Promotional videos as well as teasers will also be used to stir interest and intrigue

towards the bundles.

Through a survey of InstaDorm’s target market, it was discovered that email promotions and

YouTube ads are the most likely forms of marketing that college students respond to, along with flyers

(Figure 10). Email promotions will be difficult to encourage due to the lack of online presence of

HomeGoods as a brand. InstaDorm’s working partnership with universities to sell bundles on campuses

can lead to negotiations to be able to attain emails of students to promote the bundles before move-in

week as well as announce dates InstaDorm will be selling on campus during move-in week. The form of

marketing with the strongest potential that will be utilized within our first couple of years is through

YouTube adverts and sponsorships. The online community of influencers who create videos regarding

college experiences and college dorm tours is a huge opportunity. Advertising to this community can be

accomplished in two ways: InstaDorm’s own video ads playing before, during, and after these

influencers’ videos, and a sponsorship of said influencers. The latter would give a competitive advantage

in having the support of the influencer’s communities. The price-per-view of video adverts is around

$0.1-$0.326. These video adverts would be targeted towards our chosen audience through YouTube

algorithms, inevitably leading to some loss of money in our ads playing for the wrong target market. The

price for sponsoring influencers can range anywhere from $0.01-$0.1 per view 27, a more affordable

(depending on the popularity of the influencer) alternative with a more direct message and greater

likelihood of success, without having any false positives on advertisements. The support of influencers

can translate into emotional connection from their fans to InstaDorm's products. The main downside of

this model is that it is much more time consuming as it requires a built-up relationship with influencers

on an individual level and contract negotiations for the sponsorships.

26
“How Much Does YouTube Advertising Cost?” How Much Does YouTube Advertising Cost? | YouTube Ad Pricing, 24
Sept. 2019, www.webfx.com/internet-marketing/how-much-does-youtube-advertising-cost.html.
27
H. Hunt, “How Much Do YouTubers Make (And How You Can Make It, Too).” G2, 26 Oct. 2018, learn.g2.com/how-
much-do-youtubers-make.
21
 Given the market strategy of selling bundles at various universities during move in week, profit

maximization is entirely based around an accurate estimate of the quantity of bundles needed. Based on

survey results conducted by InstaDorm, about 50% showed interest in purchasing the “Dorm Bundle”

(including bed sheets, duvet, throw pillow and blanket, towels, and hangers), and another 45% were

interested in the “Basic Bundle” (bed sheets, duvet, towels, and hangers) (Figure 11). Therefore, it is

imperative that InstaDorm utilizes this information to manage inventory. With the initial cost of

purchasing and assembling all the bundles, $60, $105, and $45 for the Basic, Dorm, and Decoration

bundles respectively, InstaDorm expects to sell them at a non-variable price of $80, $130, and $65,

respectively.

22
Human Resources

InstaDorm’s management team will initially consist of the company’s five founders: Shria Arul,

Chase Courville, Nick Giguere, Chloe Welch, and Tomas Zita. During the first year, they will assume a

majority of the responsibilities of running InstaDorm and will then expand the staff as the company

grows and profits increase. During move-in week InstaDorm will hire six additional part time workers to

assist with tasks such as loading and unloading trucks and working the tents.

Past Experiences

Shria Arul did an internship at an ophthalmic hospital for a month. She had many responsibilities

including retrieving patients from the waiting room and prepping them for their doctors and traveling to

rural camps to register patients and assist physicians. This internship was abroad in India, so she learned

how to adapt to different cultures and deal with language barriers. She also did an academic program

called The Young Entrepreneur where she had to create a product with four other team members and

went through the processes of a real business. She was the CMO of the company, so she has experience

identifying a target market, developing advertisements/promotions, and creating and presenting a

marketing strategy for a product.

Chase Courville was the president of the Charlton LEOs, a community service club in his

hometown. During this experience, he learned valuable leadership and communication skills by leading

meetings and engaging with people in need. In addition, Chase served on the Charlton Old Home Day

Committee for four years where he helped organize his town’s annual Labor Day festival. On this

committee, he was responsible for fundraising and organizing the soapbox derby held on Labor Day

morning. Chase also draws leadership experience from his role as the team captain of his high school

Cross-Country and Track teams.

23
 Nick Giguere was an employee at Dunkin Donuts. He managed the restaurant by himself, so he

learned responsibility and time management. He also became familiar with managing inventory which is

useful as we will be handling thousands of units of TJX stock. He developed customer service and

relations skills that can be applied when we run the tents on campus because we will have to interact

with the thousands of college students. Nick also has experience in video editing and audio engineering

where he learned the basic skills to produce InstaDorm’s advertising, and how to perform in stressful

situations, organizational and team management skills.

Chloe Welch has developed similar skills to Nick Giguere as she was a waitress at the Waverley

Country Club. Through this work experience, she learned excellent people skills as well as how to take

on multiple responsibilities simultaneously. She has also had work experience in computer consulting,

where she was able to expand her knowledge of Excel, and other IT platforms which improved her

ability to do financial and data analyzing. Chloe was also the Vice President of her school's Class

Council. Her responsibilities included delegating roles and organizing all school events and fundraisers.

Chloe also founded the first student run recycling campaign at her high school.

Tom Zita was an Eagle Scout at 14 years old. He went on many hiking and camping trips and

completed many merit badges that exercised various skills. He knows how to survive in the wild, the

importance of responsibility, and to do service for others. He was also a dedicated rower for his

nationally ranked high school team. His team practiced 6 days a week for 3 hours, all year round. During

that time, he learned how to work as a team and to go past the physical and mental limits. Tom has also

worked with the Special Olympics to teach mentally challenged athletes how to row. He learned how to

be determined, get things done in a timely manner, be a leader, and be an effective part of a team.

Specific Responsibilities

Each of the co-founders will be responsible for a specific task and will be assisted by the part time

workers:
24
 ● Tom will be in charge of loading the InstaDorm trucks with the stock from the HomeGoods

warehouse and driving it to the storage unit.

● Chloe and Shria will be in charge of picking out and purchasing inventory, as well as assembling

the bed, bath, and decoration bundles with various themes and sizes. They will create stylish

themes for each bundle by matching certain colors, patterns, and designs. As current college

students, they will take student preferences into account when creating these bundles since we

know from first-hand experience what other college students may like as well.

● Chase will be the main person in charge of running and selling the bundles at tents on the

university campuses.

● Nick will take care of all forms of marketing and advertising such as creating our forms of

advertising (flyers, photos, videos, etc.) and building relationships with social media influencers

and universities.

Since InstaDorm is a seasonal business, employees will only be needed for certain parts of the

year. August and September will be the main time of business since early September is when most

universities in the Boston area have their move in weeks. August will be spent packaging the bundles

and September will be spent selling on campus. After the first year, personnel will be required in August

to assemble all of the bundles and then sell them on campus throughout September.

December-January will be the time of the year with the second highest demand for personnel as

NUin students are coming to live on Northeastern campus for the first time after their studies abroad.

The other schools that we are targeting do not have a significant number of admits in January, so

InstaDorm will only be selling on the Northeastern campus at this time. December will be spent

packaging the bundles and January will be spent selling on campus.

April-July will be used for creating and distributing advertising on campus such as flyers and

online ads as current college students are wrapping up their school year and may be interested in buying

25
a new set of dorm supplies for the upcoming year, recently admitted students are on campus for

welcome days, and new incoming students are on campus for orientation.

Personnel and Culture

As InstaDorm grows, the plan is to expand staffing by hiring part time employees. In order to

save resources and money, we will rely on the gig economy. It will allow us to hire people with the

knowledge and expertise that we need without having to pay them a full-time salary for jobs such as

running the tents and driving the trucks. People can also be easily hired for any other tasks that go

beyond the InstaDorm team’s expertise. The flexible nature of a gig economy will benefit InstaDorm as

company costs will also be reduced. We will not have to incur employer liability insurance, tax

obligations, paid holidays, or any other benefits that are normally entailed for a full-time employee. The

cost of benefits alone can make up over 31% of the average employee’s total compensation package 28.

This, along with other costs such as workman’s compensation, can add up to a significant cost for the

company. However, these costs will be avoided as the only payment necessary will be for the set

days/tasks that the personnel serve InstaDorm for. Steady employment is needed for tasks such as

assembling the bundles and sales/marketing as these jobs will require training and consistency.

Personnel Plan

All founders of InstaDorm will be in a partnership so they will share all liabilities and profits

equally, and each member will earn an income of 20 thousand dollars a year for all three years.

28
A. Muhammed, “Four Statistics Showing How Business Can Benefit From The Gig Economy.” Forbes, Forbes Magazine,
1 Aug. 2018, www.forbes.com/sites/abdullahimuhammed/2018/07/31/four-statistics-showing-how-business-can-benefit-
from-the-gig-economy/#13f081b6752f.
26
Organizational Culture

As the owners of InstaDorm, it is our responsibility to establish a positive workplace culture that

effectively demonstrates how employees should behave in order to achieve their goals. It is important

for us to acknowledge employee improvement to encourage consistent involvement. Performance

reviews by one of the founders will be implemented to obtain a full evaluation of each employee’s

conduct and ensure they are achieving customer satisfaction.

Encouraging diversity and inclusivity within our workforce is very important to us because

everyone should feel welcomed and valued within our company. Communication will be a priority as

well since InstaDorm wants to create an environment where everyone feels as if their contributions,

ideas, and opinions are being heard and taken into consideration. These goals will be accomplished by

hosting a get-together at the end of each week in which InstaDorm will provide food and refreshments.

Employees will get a chance to voice their ideas and concerns at these gatherings.

27
Appendix

Figure 1 - Sample Flyer

28
Figure 2 - Revenue Chart

Figure 3 - Budget

29
30
Details About Costs
Labor
https://www.google.com/search?q=ct+minimum+wage&rlz=1C1CHBF_enUS819US819&oq=ct+minim
um&aqs=chrome.0.0j69i57j0l4.8260j1j7&sourceid=chrome&ie=UTF-8
Warehouse rental

http://www.showcase.com/property/179-221-Park-Avenue/East-Hartford/Connecticut/10330828
31
Box truck
https://worcester.craigslist.org/search/cta?sort=priceasc&query=box%20truck

Office supplies ($1,274 year 1, $174 for the rest)

Desk ($160 each X 5)
https://worcester.craigslist.org/search/fua?query=office+desk&sort=priceasc
Chair ($50 each X 5)
https://worcester.craigslist.org/search/fua?query=office+chair&sort=priceasc
Printer ($30)
https://worcester.craigslist.org/search/ela?query=printer&sort=priceasc
Power Strip ($5 each X 5)
https://www.amazon.com/GE-Integrated-Protection-Mountable-
14833/dp/B0080Z7974/ref=sr_1_7?crid=3EGK4Y9W2F5T7&keywords=powerstrip&qid=1574255129
&sprefix=powerst%2Caps%2C206&sr=8-7
Printer Ink ($58 X 3 per year)
https://www.amazon.com/Hewlett-Packard-HP-Black-
Inkjet/dp/B072N5YPCG/ref=sr_1_1?keywords=hp+printer+ink&qid=1574256246&sr=8-1

Gasoline ($2,967)
Price ($2.67 per gallon)
https://boston.cbslocal.com/2019/06/17/massachusetts-gas-prices-gasoline-cost-falling-summer/
Fuel efficiency (9 mpg)
http://www.fuelly.com/car/ford/e-350_econoline/2000
Miles driven (10,000)
10,000/9 X 2.67 = $2,967

Packaging
Bags ($0.25 each)
https://www.discountplasticbags.com/24-x-2000-75-gauge-centerfold-pvc-shrink-film.htm

Pop-up tents ($450 each X 3)

https://www.wayfair.com/outdoor/pdp/freeport-park-16-ft-w-x-33-ft-d-party-tent-w001484642.html

Cash register ($130 X 4)

https://www.amazon.com/SILVER-AccuBANKER-Removable-Currency-
Compatible/dp/B07T4TY88G/ref=sr_1_19?keywords=cash+register&qid=1574258942&sr=8-19

Display tables ($99 X 30)

https://www.wayfair.com/school-furniture-and-supplies/pdp/iceberg-enterprises-indestructabletoo-
rectangle-folding-table-uey1496.html

Disposable table cloths ($0.66 X 100)

https://www.napkins.com/wholesale-white-plastic-tablecloth-12-ct-cb-910272.html

Credit card fees

3% of transaction

Utilities ($162 X 12)

32
https://www.payscale.com/cost-of-living-calculator/Connecticut-Hartford

Insurance
General liability insurance ($428)
https://www.insureon.com/small-business-insurance/general-liability/cost
Workers comp insurance ($1230)
https://www.insureon.com/small-business-insurance/workers-compensation/connecticut
Car insurance ($2,000)
https://truckinsurancequotes.com/box-truck-insurance-cost/

Truck registration ($173)

https://portal.ct.gov/DMV/Fees/Fees/Commercial-Fee-Chart

Professional (accounting fee $400)

https://smallbusiness.costhelper.com/accountants.html

Advertising

www.webfx.com/internet-marketing/how-much-does-youtube-advertising-cost.html.

www.alphagraphics.com/centers/wallingford-connecticut-us517.html

Incorporation ($475)
https://www.northwestregisteredagent.com/connecticut-incorporation.html

Figure 4 Target Market

College/University On Campus Students Sources

Northeastern University 10,600

https://www.usnews.com
/best-
colleges/northeastern-
university-2199

Boston College 11,800

https://www.usnews.com/best-
colleges/boston-college-2128

Boston University 26,000 https://www.usnews.com/best-

colleges/boston-university-2130

33
 University of Connecticut 12,400
https://www.usnews.com
/best-colleges/uconn-
29013/student-life.

Harvard University 22,000

https://www.harvard.edu
/about-harvard/harvard-
glance/student-life.

Figures 5-11 Survey Responses

Figure 5

34
Figure 6

Figure 7

35
Figure 8

Figure 9

36
Figure 10

Figure 11

37
Figure 12 - Growth of College Students in the US

38
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42
Business Pitch Presentation Slides

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