Executive Summary:
There are about 80 Million students just in the US today that get science project assignments at least a few times during their education, yet there is no organized source of information and material to support them. Our Science Project web site wants to be the answer to all such needs. We have the knowledge and the technology to do it now and to do it right.
In this business summary, I have been conservative and kept the income projection low. I projected a $2,000,000 membership revenue from 0.1% of US students for the first year. But what I am really heading for, is about 10 times more at no or very little extra production and advertising cost. I hope that at least 1% of US students will become a member of this site to benefit from enormous valuable and detailed information that it offers in the first year. This generates a revenue of $20,000,000.

Business plan remark:
This business plan is prepared up-on request of two prospective investors or venture capitalist firms. It is done just in a few hours and is a draft copy of what I have in mind about this plan.
I am confident that it has some mistakes and omissions, but it should be able to give an idea of what we are going to achieve. I will be happy to provide more information or discuss more details after the initial interest of a qualified investor.

Business Description:
Overview:
This summary is intended to shows that we can serve about 80 Million US students and many more international students by providing them with information and material for their science projects and make it a very profitable business. Although there are many more income opportunities and expansion avenues attachable to this plan, we are not trying to explore or discuss them at this time. This plan involves two major groups of products and services that will generate revenue. First, is selling membership for accessing step-by-step described projects and second, is selling science kits.
A discussion of our company.
Science Project started as a project of Industrial Research Center, Inc. in 1985 in Iran. Lack of access to affordable advertising media and commercial carriers such as UPS, forced us to stop this project and work on industrial (research, consulting and production) projects.
Popularity of the Internet in recent years as a communication and advertising media and also access to commercial carriers in US, gave us the second chance to restart ScienceProject as one of the most valuable projects in the history of our company. Science project is now a subsidiary of New Jersey Industrial Research Center, Inc. To restart this project, we posted an empty "Under Construction" web site and a phone number on the Internet and soon we started to get calls asking when our web site will be ready? We now have some startup material for visitors and some links to other resources. We have not submitted ScienceProject.com to any search engine yet and we have not advertised it in any other way either. Currently, we are getting 300 hits per day and this number is increasing.
Products and Services:
ScienceProject.com is the source for step-by-step instructions on how to do a Science Project. It has projects for school as well as fun and exciting projects for after school and the summer time. It helps you build something useful and learn science in the best possible way, hands on, not just theory. Science kits and other project related materials are also available to be ordered on-line.
Our Position:
ScienceProject.com is the only source of professionally managed scientific, technical and business information for students.

Pricing strategy:
Scienceproject.com includes free sections as well as different levels of "members only" sections. Membership fees are set to be $25 to $100 which is affordable for most US, Canadian and European families. Science kits and other science project related products offered in this site are also priced to be less than $100 in most cases and as low as $5 in some.

Market:
ScienceProject.com sells membership and Science kits to the growing number of students in US, Canada and many other English-speaking countries. Customers are students of any age or sex who can afford to pay for training aid materials or services. There are 80 million students in the US alone who can benefit from products or services offered by ScienceProject.com. This number grows by population and economic growth. We expect at least 10% of US students become a member of ScienceProject.com at different levels. We also expect another 10 million members from other countries.
The membership revenue from US students is estimated as follows:
First year $2,000,000 (One member in each 1000 US students)
Second year $10,000,000 (Five members in each 1000 US students)
Third year $20,000,000 (One member in each 100 US students)
Fourth year $100,000,000 (Five member in each 100 US students)
The sales revenue from sales of science kits and Supplies to US students is estimated as follows:
First year $100,000 (10,000 orders with $10 average Profit each)
Second Year $1,000,000 (100,000 orders with $10 average profit each)
Third year $3,000,000 (200,000 orders with $15 average profit each)
Fourth year $7,500,000 (500,000 orders with $15 average profit each)
The above estimates are based on Market Size, and the information that we receive via e-mail from visitors of ScienceProject.com.

Development and Production
Development Status:
ScienceProject.com contents and products are currently at the test and experimental level. We need to hire professional developers for both products and contents. They need to be trained and be ready to produce projects and science kits that spell "success". We have prepared a few projects and are offering some kits for sale and are studying e-mails to see what type of projects have more demand.
Production Process:
Science project developers need to go through all stages that a good student goes, collecting information, performing experiments and preparing a report with photos, charts and anything else that is required. They add to these step-by-step instructions to help the students to do the experiment themselves. They also prepare a kit description (If appropriate) that will be completed by the Kit Production Plant. The Kit Production Plan will find the sources for material, design the packaging and other kit components and finally start to produce the approved and completed science kit.

Cost of Development:
Our initial effort is developing enough science projects to encourage membership. Estimated cost of development and maintenance of science projects on the web site for the first year is $1,000,000. This includes salaries, office and production expenses, web-site programming and development expenses and finally Internet supplies and equipment.
We expect to complete about 100 projects in the first year. In most cases we keep development at the same pace as demand. This will secure our cash flow and avoid unnecessary expenses.
Kit development and production may be done in-house or by professional packaging companies.
Average Science kit costs about $25 and 50% of that is production cost.

Labor Requirements:
The following is a list of personnel needed for the first year.
_ Two science-project developers.
_ One web and database programmer.
_ One web designer with graphics and photography skills.
_ One customer support person.
_ One purchasing agent.
_ One marketing agent.

Expense and Capital Requirements:
Capital requirement for startup and the first year of operation is $2,000,000 that will be distributed as follows:
$1,000,000 Operation expense for development of Science Projects and maintenance of site.
$500,000 Production of science kits
$500,000 Advertising and cash reserve for kit productions

Total capital requirement: $2,000,000.

Sales and Marketing:
Marketing Strategy
ScienceProject is a known, appropriate and easy to remember name that simplifies our marketing and advertising efforts. Thousands of students every day sit by their computer and search for a Science Project. By submitting ScienceProject.com to the search engines and investing some advertising dollars, we can make Science project.com the first choice for everyone.
ScienceProject.com is a name that you hear it once and you never forget. We will also need some short and limited nationwide TV advertising to introduce the site and it's key benefits. We will develop Colorful Scientific Posters and send it to schools at no charge with ScienceProject's logo and name. We correspond with teachers all over the country to make sure that they recommend use of Science Project.com to their students. We will also have a teacher's section to help teachers to design, select and recommend projects to their students. We value suggestions of all teachers and thank them in our site for their contributions in the form of suggestions, recommendations and information.
Method of Sales
All retail sales and membership sales will be done via the Internet. An on-line application will accept the order, charge the customer and deliver the order information to our shipping department. Fulfillment facility or Shipping department prints the order form, ships the orders and records the tracking number in the same on-line application. Customers will be able to visit the site at any later time and find about the status of their orders and tracking number for shipped items. The on-line application will also keep track of site usage by members and limits that to the level of their membership and their available credit.
We also do wholesale of Science kits and Science Books to the Souvenir stores of Science Centers and Science Museums that generates income as well as being an advertising tool for ScienceProject.com's Web Site.
Advertising and Promotion
Although most of our advertising efforts will be on the Internet, we will have some advertisements in newspapers, magazines, radio & TV. Some of our other advertising methods are:
· We print ScienceProject.com on all products and packaging material. We will also sell inexpensive gift items and school supplies such as binder's, pen's, calculator's and etc. all with ScienceProject.com's name and logo.
· Publishing science project books that will generate income and at the same time promotes the Science Project web site.
· Mail brochures and other advertising material along with each order to introduce other products in the same class.
· E-mail promotions and updates to site visitors that request to be in our e-mail list.
· Using special and unique, reusable plastic cases for Science Kits that easily identifies the product and reminds people about that.
· Resale and distribution of school equipment that are custom ordered with ScienceProject.com's logo and name.

Management:
CEO, Mohammad Hamzeh
Mohammad Hamzeh is a graduate of Beheshti University in System Analysis and Computer Applications. He is the founder of Industrial Research Center in Tehran and has managed that center until 1990 when he came to the US. He founded NJ Industrial Research Center, Inc. in 1990 and since then he has been responsible for computer, internet and scientific services of that center. As CEO of ScienceProject.com Mohammad will be responsible for strategic planning, market development, and company operations. Mohammad has experience and technical knowledge of managing scientific and research teams and will be the head of Science Project's Development team as well.
Sales Manager
The right candidate for this job will possess contacts in the school supplies distribution market as well as experience establishing new relationships for sales to schools, science centers, and museums. Responsibilities include establishment of wholesale distribution accounts, marketing, product presentation, and customer service. The sales manager will report to the CEO.

Financial:

Risks:
ScienceProject.com sees the following risks:
· Losing our competitive advantage - Although ScienceProject.com is the only company currently producing science projects in different branches of science, the company is aware that other science suppliers could follow on our success. ScienceProject.com plans to stay one step ahead of the competition by introducing at least 500 new projects every year.
· People don't like our product. There's always the risk in any industry that people won't like a product. ScienceProject.com conducted extensive market research, including multiple focus groups, to gauge public reaction. Over 98% of respondents said they would be willing to use our site as a reference and over 30% of respondents said they would consider being a member or purchase a science kit from our site, or recommend it to someone else. The company plans to continue this type of research.
· Legal restrictions for selling products to minors- In some states and for some products we may not be able to sell science kits and products to children. We are currently accepting only credit cards for all orders and assume the owner of credit card as a responsible adult who will personally use or supervise in the use of a science kit. We continue our investigation on the laws in different states and make arrangements to have a responsible adult for each and every order.
· Failure to produce high quality products and projects- It will be a challenge in the beginning to find qualified individuals as developers of Science Projects and Science Kits. Our previous activities required employing chemists, electronic engineers, metallurgist and other professionals with a deep scientific knowledge and we know how difficult it is to find qualified individuals. Now we can use that experience to filter applicants based on their knowledge and capabilities much easier but still we cannot disregard possible need of contracting professionals from different states or different countries.