Cool Wrist Entrepreneurship Business Plan

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CoolWrist is a growing idea and product that plans to defeat the thought of heat exhaustion/stroke in the sports and exercise field. This is a revolutionary idea that solves many problems. CoolWrist is an elastic wristband that has a cooling agent on the inside ring of the elastic band. Its purpose is to provide a cool sensation to have the opportunity to overcome your body with relieving coolness. How does it have the ability to do this?

The human body has many cooling spots on it, but one of the largest regions is the wrist. You have a major blood vessel that runs on the bottom side of your wrist. Allowing that wristband to cool that blood vessel, it will react and send a shock of coolness to the rest of your body. The cool band will only stay cold on a summer day for about 10-15 minutes. Although that is not for long, studies do show that you only need

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about that much time for your body to realize that something is trying to help it cool down. Once it realizes that, your body will then have a lasting coolness over the whole body solely because of the wristbands.

How do we have a competitive advantage to competitors?

CoolWrist is a tight but stretchy material that is much more elusive than have a loose sleeve or even a towel around your body. Our product is designed to be used in the field of play knowing that there are no regulations against having them in any sports venue. This wristband will help keep players on a field or court stay cool for much of their game or competition.

Overall, this is an inexpensive product that will accommodate the needs of heat safety issues that have rapidly been going on in our fitness world. Thank you for your time and hope you promote our product in the future.

Overview

CoolWrist is a startup company that launched in October of 2016. Our product is listed in the active cool wear industry. This company will seek to serve athletes and people of this world who are physically active.

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CoolWrist started by advertising in OKC and its nearby suburbs and eventually to the entire state. From there, we would try to sell to local school and university sports programs in hope that this could meet the needs of heat safety that many high school athletes are not aware of. This process is what plunged our company, once schools became more and more interested in the product for their athletes, it kind of put our small idea into a successful reality.

Product Description

CoolWrist is an elastic wristband with a patented cooling agent on the inner wrist of the band. The outside of the band is elastic cloth like Nike, Adidas, and Under Armour sell. Between those three companies and us, we are the only one to think of this idea and get it on the market. One way we have a competitive advantage over these corporations is that we are targeting a specific cause. Nike is more worried about their athletes looking cool, although they do create great revenue, but we want our products to have purpose and a real reason to be worn. We have priced this product at $14.99, this is a very reasonable price that is inexpensive for the technology that is implemented into it. If Nike, Adidas, or Under Armour were to sell this product, based on statistics, would sell it for $20-$25 in their market. We understand that is a very high price for essentially a pair of wristbands, hoping that their customers would turn away in that instance and realize that our price is a much more reasonable one.

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Strategic Partnerships

Building relationships is one of the most important parts of the success of our company. We want to meet the needs of our customers and go out of our way to make sure we keep them happy and continue to buy our products. High school and university sports programs were our initial target and we intend to grow the relationships that we have with those programs. In Oklahoma this has been a success but we want to venture to other states and see how successful we can be. Our clients know that we are genuine people and that is why we will be able to keep business and even grow our business in a short amount of time.

Philosophy

We have a very strategic but yet intrinsic philosophical value to the core of our company. We are determined to make sure that we follow by these ideals and implement them into the way we sell and the way we think as entrepreneurs. These core values follow as:

- Build Relationships

- Be a Problem-Solver

- Be Passionate and Determined

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These values are important to us because we know that these three simple commands will provide only success for our company in the years ahead of us. Our founders and employees must uphold these three core values for our company to perform

at the highest level each and every day. Our founders believe that to be successful we must display these values as if our consumers cannot help but be satisfied.

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- Management

Derek Reeves, Founder and CEO

Derek Reeves is the Founder and CEO of Cool Wrist. Derek has over 10 years of experience in the sports business and is responsible for leading the strategic direction of Cool Wrist. Derek has held senior positions with Nike and Under Armor.

Austin Steele, Senior Vice President and Chief Operating Officer

Austin Steele is the Senior Vice President and Chief Operating Officer of Cool Wrist. His responsibilities include merchandising operations, managing relationships with partners and vendors, and designing and implementing business strategies, plans and procedures. Austin has over 8 years of operations management experience in which he has held various management roles.

Saith Correa, Executive Vice President and Chief HR Officer

Saith Correa is the Executive Vice President and Chief HR Officer of Cool Wrist. Saith has over 7 years of experience in the HR Industry where he has served in many human resource roles. Before joining Cool Wrist, Saith served as HR coordinator for the company Global Interactions. Saith’s responsibilities include

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