Business Plan - New Venture

Memory Lane Service | Business Plan 0
Crafting Nostalgic Journeys
BUSINESS PLAN
VENTUTE INFORMATION
Legal Name: Memory Lane Service
Business Address: 111 McIntosh St.
Suit 204, Scarborough, M1N 3Y6
Phone: (6470) 239-1890
E-mail: info@memorylane.com
Website: www.memorylane.com
April 06, 2024

Contents
Executive Summary......................................................................................................................3
Venture Overview .........................................................................................................................5
Business Model Canvas ............................................................................................................6
Legal Structure .........................................................................................................................7
Product Offering...........................................................................................................................7
Core Offerings ..........................................................................................................................7
Benefits ...................................................................................................................................8
Market Research ..........................................................................................................................9
Environmental Analysis .............................................................................................................. 10
PESTLE Analysis ..................................................................................................................... 10
Competitive Environment ........................................................................................................... 11
Direct Competitors ................................................................................................................. 11
Indirect Competitors .............................................................................................................. 12
Our Key Competitors: ............................................................................................................. 12
Our Competitive Advantage: ................................................................................................... 13
Market Assessment .................................................................................................................... 14
Industry Description ............................................................................................................... 14
Geographic Market Scope ....................................................................................................... 14
Market Needs ......................................................................................................................... 15
Market Trends ......................................................................................................................... 15
Market Segmentation.............................................................................................................. 16
Marketing Strategy ..................................................................................................................... 17
Product Strategy ..................................................................................................................... 17
Pricing Strategy ...................................................................................................................... 18
Promotion Strategy ................................................................................................................. 19
Place Strategy ........................................................................................................................ 19
People Strategy ...................................................................................................................... 20
Operating Plan ........................................................................................................................... 20
Financial Plan ............................................................................................................................ 22
Growth Roadmap ....................................................................................................................... 28
Management Team ..................................................................................................................... 30
Risks ......................................................................................................................................... 32
Market Risks ........................................................................................................................... 32
Competitive Risks................................................................................................................... 32
Financial Risks ....................................................................................................................... 32
Operating Risks ...................................................................................................................... 33
The Venture as an Investment: .................................................................................................... 33
Attractiveness of the Venture for the investors: ........................................................................ 33
Equity Offering: Finding the Right Balance ............................................................................... 34
Hypothetical Evaluation as an Investor: Would This Venture Get My Backing? ........................... 35
Appendix ................................................................................................................................... 36
Appendix-01 ........................................................................................................................... 36
Appendix-02 ........................................................................................................................... 37
Appendix-03 ........................................................................................................................... 38
Executive Summary
We are delighted to present the "Personalized Memory Lane Service," a pioneering initiative
aimed at alleviating the pervasive issue of social isolation among seniors, particularly within
the Toronto region. Our core objective is to address the profound disconnect experienced by
individuals through the preservation of personalized memories.
As a socially conscious enterprise, our commitment lies in venerating the life stories of
seniors, nurturing interpersonal connections, and cultivating enduring legacies. Our
comprehensive suite of memory preservation solutions is meticulously tailored to the
unique narrative of each senior, encompassing bespoke memory collection sessions,
professional storytelling services, and the creation of tangible artifacts. Through these
tailored offerings, our aspiration is to provide bespoke experiences that foster reconnection
among seniors and their families, thereby reshaping the narrative of solitude.
Acknowledging the substantial market potential, with the personalized services sector
forecasted to attain a valuation of $103.5 billion by 2025 and Toronto's aging demographic
expected to burgeon to 680,000 seniors by 2036, our enterprise is strategically poised for
expansion. Our initial concentration on the Toronto market will serve as a precursor to
broader national and international outreach.
Our growth strategy is underpinned by a harmonized approach encompassing product

refinement, pricing optimization, promotional initiatives, and strategic placement. By
leveraging community workshops, localized media campaigns, targeted social media
engagement, client testimonials, and loyalty initiatives, we endeavor to amplify our market
presence and outreach.
With a dedicated team comprising 15 seasoned professionals, we are establishing a central

headquarters in Scarborough, Toronto, outfitted with requisite infrastructure to ensure
streamlined operations, stringent quality control, and maximal customer satisfaction.
Prudent financial stewardship will remain pivotal to our organizational ethos, with an
unwavering focus on sustainability and expansion.
Our financial projections affirm robust fiscal health, boasting a net present value of
$949,091.92 and an internal rate of return of 12.19% by the fifth year. These metrics
underscore our potential for profitability and expansion, rendering the "Personalized
Memory Lane Service" an enticing proposition for investors seeking both monetary returns
and societal impact.
We cordially invite you to embark on this transformative journey alongside us by investing

$100,000, as we endeavor to effectuate meaningful change in the lives of seniors while
engendering sustainable returns for our esteemed investors. Together, we can illuminate the
path towards a brighter future for our aging populace.
Venture Overview
In the bustling city of Toronto, there's a poignant tale that echoes across countless homes
and senior residences—a tale of seniors like Mrs. Smith, who find themselves navigating the
twilight years of their lives in isolation. Mrs. Smith, once surrounded by the warmth of family
and community, now spends her days in a nursing home, yearning for the simple joys of
shared memories and companionship. Her story is not unique; it reflects a broader societal
issue of seniors feeling disconnected and lonely, despite the care and attention of
caregivers. As immigrants from a collectivist culture, we've keenly observed the stark reality
that many seniors here live in nursing homes or senior residences, separated from their
families who may be miles away.
The "Personalized Memory Lane Service" was born from a recognition of this profound
problem—a problem rooted in the changing dynamics of family structures, cultural shifts,
and the demands of modern life. Statistics from the 2022 Ageing in Canada Survey by the
NIA paint a stark picture: 41% of Canadians aged 50 and older are at risk of social isolation,
with 58% admitting to feeling lonely at some point. These numbers tell a story of unmet
needs, untold stories, and a yearning for connection that spans generations.
Our mission at the "Personalized Memory Lane Service" is clear—"To honor the unique life
stories of seniors, fostering connections, and creating enduring legacies through personalized
memory preservation”. We are driven by a collective sense of purpose, a commitment to
addressing the pain points of social isolation among seniors, and a belief in the power of
storytelling to bridge divides and bring families closer together.
Organized as a social enterprise, we aim to balance financial sustainability with social

impact, maximizing our ability to effect positive change in the community. While our initial
focus is on serving clients in Toronto, our vision extends far beyond city limits, with plans to
expand nationwide and potentially internationally as demand for personalized memory
preservation services grows.
Currently, the "Personalized Memory Lane Service" comprises a dedicated team of

passionate individuals, each driven by a shared belief in the transformative power of
preserving memories. We are at the early stages of our journey, refining our offerings,
building strategic partnerships, and laying the groundwork for future growth. Financially, we
are supported by initial investments and are actively seeking additional funding to propel our
mission forward.
Our core products and operations center around comprehensive memory preservation
solutions, personalized memory collection sessions, professional storytelling services, and
tangible artifact creation—all designed to provide seniors with personalized experiences
that honor their life stories and reconnect them with their families. Through our venture, we
aim to rewrite the narrative of loneliness and isolation among seniors, replacing it with one
of connection, belonging, and enduring legacy.
Business Model Canvas

The business model canvas (Appendix-1) of the venture revolves around a social enterprise
with a core mission to preserve the unique life stories of seniors, thereby creating enduring
legacies and fostering emotional connections. The main activities undertaken by the
enterprise include personalized memory collection sessions, professional storytelling,
tangible artifact creation, community engagement events, and marketing initiatives.
Management of the online platform, provision of customer support, and continuous
innovation to enhance services constitute integral components of the operation. Key
resources at the disposal of the enterprise include an expert team specializing in web
development, marketing, and elderly care, along with established relationships with elder
care professionals, storytellers, and artisans. The value proposition of the enterprise is
directed towards non-tech-savvy seniors and their families, as well as community centers
and investors who support socially impactful ventures. Customer segments primarily
encompass seniors and family members, with sales and marketing efforts primarily focused
on strategic partnerships, community engagement, and maintaining an online presence.
Partnerships are cultivated through collaborations with senior centers, professionals, and
local artists. Competitors in the domain are recognized to include traditional photo album
and memoir services, while local media and digital platforms are viewed as complementary
avenues. The intended impact of the enterprise addresses social isolation and emotional
well-being among seniors, with metrics such as engagement rates, customer satisfaction,
and social impact being utilized to measure effectiveness. Revenue streams are diversified
and include earned income from product sales, program-related investment, debt, and
social impact bonds. The cost structure encompasses expenses related to salaries, rent,
platform maintenance, marketing, and technology development. As an organization, the
enterprise operates as a social enterprise with a hybrid model, combining for-profit
elements with a non-profit mission to maximize positive impact on the community.
Legal Structure
The Benefit Limited Liability Company (BLLC) is selected as the optimal business structure
for the "Personalized Memory Lane Service" venture. It seamlessly aligns with the mission of
positively impacting the lives of non-tech-savvy seniors by integrating financial success with
social responsibility. The BLLC's unique feature of prioritizing social and environmental
objectives complements the goal of preserving and celebrating seniors' life stories. By
choosing a BLLC, the venture signals dedication to a dual bottom line, attracting socially
conscious investors and distinguishing itself in the market.
Product Offering
The "Personalized Memory Lane Service" is a specialized venture dedicated to preserving
and celebrating the life stories of non-tech-savvy seniors. Unlike traditional memory
preservation services, our venture offers a deeply personalized and tailored approach. We
understand that each individual has a unique story to tell, and we aim to capture and
immortalize these stories in a meaningful and tangible way.
As the entrepreneurial team behind the "Personalized Memory Lane Service," we developed
a Double Diamond Model to guide our innovative approach. In the Idea Generation phase,
we conducted extensive research, empathy interviews, and brainstorming sessions to
understand the complexities of social isolation among non-tech-savvy seniors. The Concept
Shaping phase introduced creative ideas through workshops, prototype development, and
user feedback. Systematic refinement, guided by evaluation metrics and pilot programs,
ensures our solution aligns with our mission and meets the unique needs of our audience.
Based on that and our business model canvas the core offering and benefits as below
Core Offerings
Comprehensive Memory Preservation Solutions: At the "Personalized Memory Lane
Service," we offer a range of comprehensive solutions designed to preserve and celebrate
the life stories of non-tech-savvy seniors. Our services are tailored to meet the unique needs
and preferences of each individual, ensuring a personalized and meaningful experience.
Personalized Memory Collection: Our process begins with personalized memory

collection sessions, where our team engages in one-on-one interviews and interactions with
seniors. During these sessions, we encourage seniors to share their fondest memories,
cherished experiences, and life lessons. Through open-ended questions and guided
conversations, we capture rich and detailed anecdotes that form the foundation of their
personalized memory journey.
Professional Storytelling: Once memories have been collected, our team of skilled writers
and editors transforms them into beautifully crafted narratives. We understand the power of
storytelling to evoke emotions, create connections, and preserve legacies. Our writers
carefully weave together the threads of each individual's life story, capturing the essence,
emotion, and significance of their experiences.
Tangible Artifact Creation: In addition to digital storytelling, we offer tangible artifact

creation services to provide seniors with physical mementos they can hold, touch, and share
with loved ones. Our artisans and craftsmen specialize in creating custom photo albums,
memory books, and other keepsakes that serve as tangible reminders of cherished
memories. Each artifact is meticulously crafted with attention to detail, ensuring a quality
product that reflects the uniqueness of each individual's story.
Benefits
Our service delivers several key benefits to purchasers.
Personalized Experience: Seniors receive a personalized and tailored experience that

honors their unique life stories and memories.
Emotional Connection: By capturing and preserving cherished memories, our service

fosters emotional connections and strengthens family bonds.
Tangible Reminders: The tangible artifacts created through our service serve as tangible
reminders of life's precious moments, providing seniors with physical mementos they can
hold and treasure.
Legacy Preservation: Our service ensures that seniors' life stories and legacies endure for
generations to come, leaving behind a lasting legacy for their loved ones.
Market Research
Market research is a crucial tool for understanding customer preferences, market trends,
and competitive dynamics, and for our endeavor, the "Personalized Memory Lane Service,"
extensive primary research was conducted to gain insights into the requirements and
preferences of our target audience: non-tech-savvy elders. Our methodology employed both
qualitative and quantitative techniques, including surveys, interviews, and focus group
discussions, to ensure a comprehensive understanding of the market. Surveys were
predominantly distributed online to family members of our target group, while interviews and
focus groups involved seniors, family members, and potential partners like caregivers,
geriatricians, and artisans. This mixed-method approach facilitated the capture of both
emotional components and statistical patterns within the target group.
The sample size comprised 50 seniors aged 65 and above, 100 family members, and 20
potential partners, ensuring diversity in age, gender, income, and technological proficiency
among seniors. By purposefully incorporating variety in the sample, we aimed to ensure
representativeness and capture a broad range of viewpoints and experiences. The questions
posed during the research phase addressed preferences for memory preservation methods,
challenges to technology adoption, willingness to spend on personalized services, and
desired features in a memory preservation service.
The findings highlighted a strong preference among seniors for traditional memory retention
techniques, such as tangible picture albums and handwritten notes, over digital platforms.
Technological hurdles were evident, with many expressing discomfort or unwillingness to
adopt digital tools. However, there was a clear desire to invest in personalized services
tailored to their specific needs and preferences, particularly those offering emotional
support and physical artifacts.
The research findings significantly influenced our product concept and marketing strategy.
We placed greater emphasis on physical mementos, collaborating with local artisans to
create personalized artifacts like custom photo albums and memory books. In-person
workshops and events were incorporated into the marketing strategy to foster direct
connections with the target audience, while tailored approaches were adopted to
accommodate regional preferences and cultural nuances.
However, despite the valuable insights gained, there are areas of uncertainty that pose
potential risks to the venture. Most notably, the reluctance of customers to commit to yearly
subscriptions for the service challenges our initial business model. Additionally, while the
research focused on the Toronto market, the feasibility of international expansion remains
uncertain and requires further exploration. Continuous monitoring of long-term adoption,
the competitive landscape, and potential technological integration challenges are also
essential to ensure the venture's sustainability and success.
Environmental Analysis
PESTLE Analysis
Political:
Government initiatives in Canada focus on improving the quality of life for seniors, including
measures to combat social isolation and support aging in place. The "Personalized Memory
Lane Service" aligns with these objectives by offering personalized experiences that
enhance seniors' well-being and sense of community.
Economic:
The economic landscape in Canada is witnessing a shift towards services that cater to the
needs of an aging population. The "Personalized Memory Lane Service" is well-positioned to
capitalize on this trend by offering a unique and valuable service tailored to non-tech-savvy
seniors, potentially driving demand and revenue growth.
Social:
The aging population in Canada is steadily increasing, with seniors aged 65 and over
projected to make up 23% of the population by 2030. This demographic shift highlights the
growing market for services catering to seniors’ needs, such as memory preservation and
storytelling. The 2022 Ageing in Canada Survey by the NIA revealed that 41% of Canadians
aged 50 and older are at risk of social isolation, and a whopping 58% have felt lonely at some
point. The "Personalized Memory Lane Service" has the potential to address this issue by
fostering connections through shared memories and community involvement.
Technological:
Despite the rise of digital memory preservation services, a significant portion of seniors
remain non-tech-savvy. The "Personalized Memory Lane Service" strategically targets this
segment by offering phone-based survey options and user-friendly interfaces, bridging the
digital divide and ensuring inclusivity. Impact Analytix data suggests that the adoption of
technology among seniors in Canada is increasing, with 67% of seniors aged 65-74 using the
internet. By providing a seamless and intuitive user experience, the service can attract
seniors who may be hesitant to engage with digital platforms.
Legal:
Compliance with data protection regulations, such as the Personal Information Protection
and Electronic Documents Act (PIPEDA) in Canada, is crucial for maintaining seniors’ trust
and confidentiality. The service's commitment to clear data protection compliance ensures
the security and privacy of seniors’ personal information.
Environmental:
The service's emphasis on tangible artifact creation, such as custom photo albums, aligns
with the growing consumer preference for physical products in an increasingly digital world.
This approach not only reduces the environmental impact of purely digital services but also
resonates with seniors who value tactile connections to their memories.
Competitive Environment
Direct Competitors
Traditional Photo Album and Memoir Services: Established companies offering photo
album creation and memoir writing services pose direct competition. While they may lack
the personalized approach and digital integration of our venture, they cater to similar needs
for preserving memories.
Digital Scrapbooking Platforms: Online platforms that facilitate digital scrapbooking and
memory sharing among users represent another form of direct competition. These platforms
offer convenience and accessibility but may lack the personalized touch and
comprehensive services we provide. But some other platforms combines unique, on-trend
designs with a powerful online editor, allowing customers to create one-of-a-kind photo
goods including photo books, prints and other personalized products (Case study: Digital
photobook platform)
Elderly Care Facilities with Memory Programs: Some elderly care facilities offer memory
programs or activities aimed at preserving seniors' life stories. In some places, Staff
members are specially trained to support seniors who may be experiencing frustration,
anxiety, aggression or communication issues as a result of cognitive aging. While these
initiatives address social isolation, they may lack the personalized and family-centric
approach of our venture.
Indirect Competitors
Social Networking Platforms: Social media platforms like Facebook and Instagram
indirectly compete by offering channels for seniors to connect with family members and
share memories digitally. However, they often lack the tailored services and emotional depth
provided by our venture.
Non-Profit Organizations: Non-profit organizations focusing on seniors' well-being and

social inclusion indirectly compete by offering various programs and initiatives to combat
isolation. While their missions align with ours, they may lack the scalability and innovative
edge of our venture.
Home Care Services: Companies providing home care services for seniors indirectly
compete by addressing seniors' broader needs, including companionship and social
engagement. However, they may not offer specialized services like ours.
Our Key Competitors:

StoryWorth | Location: San Francisco, CA
StoryWorth, based in San Francisco, California, offers a digital memory preservation service.
While they focus on collecting memories through online platforms, they may not cater as
effectively to non-tech-savvy seniors who prefer phone-based interactions and tangible
artifacts.
Estimated Revenue: $4.5 M | Estimated # Employees: 50
LegacyBox | Location: Chattanooga, TN

LegacyBox, headquartered in Chattanooga, Tennessee, provides a service for digitizing and
preserving memories. However, their emphasis on digital formats may not resonate with
non-tech-savvy seniors who prefer physical artifacts and personalized storytelling.
Tribute | Location: New York, NY

Tribute, located in New York, New York, offers a digital platform for creating video montages
to celebrate special occasions. While they focus on video content, they may not provide the
same level of personalized artifact creation and tangible memory packages as the company
does.
Estimated Revenue: $4 M | Estimated # Employees: 48
OneDay | Location: Dallas, TX

OneDay, based in Dallas, Texas, specializes in video storytelling services. Their focus on
video content may not fully align with the personalized artifact creation and tangible memory
packages that the company offers, potentially missing out on catering to non-tech-savvy
seniors’ references.
WCD | Location: Calgary, Alberta

WCD provides On-Demand Print & Information Solutions with creative, personalized, and
integrated services. They are also print and distribution partner for other leading digital photo
book platforms outside Canada because of their leading-edge technology and expansive
network of resources.
Size: 5 million+ users | Estimated # Employees: 250
Our Competitive Advantage:

The Personalized Memory Lane Service specializes in catering to non-tech-savvy seniors
within the digital memory preservation industry. Offering customized memory collection,
storytelling, and artifact creation, the company ensures a tailored experience for this
demographic. Key features include user-friendly interfaces, professional writers, and
tangible products, all aimed at providing a comprehensive and emotionally resonant service.
A standout aspect is the emphasis on storytelling, with skilled writers crafting personalized
narratives that add depth and emotion to preserved memories. Collaboration with local
artists and community centers enhances marketing efforts and fosters a sense of
community among customers.
To accommodate seniors with varying tech literacy levels, the service provides online and
phone-based survey options, ensuring accessibility without complexity. Delivery services
bring personalized memory packages directly to customers' doorsteps, enhancing
convenience.
With staff training prioritizing sensitivity and empathy, collaborations with senior centers,
and adherence to data protection compliance, the service builds trust within its target
demographic. The ultimate goal is to offer a meaningful experience that celebrates and
preserves the life stories of non-tech-savvy seniors concisely and accessibly.
Market Assessment
Industry Description
Based on data from Impact Analytix, the 'All Other Personal Services industry is a diverse
sector encompassing a wide range of personalized services for individuals. This industry
includes businesses offering unique and customized services such as personal shopping,
event planning, personal coaching, and more. With a projected market value of $103.5
billion by 2025 and a steady CAGR of 6.2%, Personalized Memory Lane Service is well-
positioned to carve out a niche in this growing industry. By offering tailored memory
preservation services, Personalized Memory Lane Service aims to cater to the increasing
demand for personalized and meaningful experiences in today's market.
Geographic Market Scope

While our initial focus is on serving clients in Toronto, our services are accessible to
individuals nationwide through our online platform. We also have the potential to expand
internationally as the demand for personalized memory preservation services grows
globally.
Market Size in Units

By 2036, there are expected to be 680,000 seniors in Toronto, representing 1 in 5 Toronto
residents, indicating a significant potential market size. The number of seniors in Toronto is
projected to increase by over 55% in the next 20 years. The estimated 2024 population of
Toronto is 2,928,879 and if we use the same proportion, 1 in 5 Toronto residents, the
addressable market will be 2,928,879*(1/5) = 585,775.
Market Size in Revenue

The median income of the seniors of Toronto was $24,310 in 2013 (Avery, 2017) and we can
assume it's $30,000 for 2024.
Let's assume a percentage of seniors with income above the median as potential
purchasers. For example, 20%.
Potential purchasers = 585,775 * 0.20 = 117,155 seniors
Let's assume an average spending per purchaser. For example, $500 per year.
Market size by $$ value = Potential purchasers * Average spending per purchaser
= 117,155 * $500 = $58,577,500
But this is the total addressable market. For the first 5 years, we assume we will be able to
cater 9000 senior citizens which is 8% of the addressable market. Our services will also be
accessible to individuals nationwide through our online platform and have the potential to
expand internationally, which will make the business case even stronger.
Market Needs
The "Personalized Memory Lane Service" caters to the needs of non-tech-savvy seniors
within the digital memory preservation industry by addressing several key customer needs.
Firstly, it offers a tailored experience, focusing on memory collection, storytelling, and
artifact creation specifically designed for seniors who may struggle with technology. To
accommodate varying levels of tech literacy, user-friendly interfaces are provided through
online and phone-based survey options. Skilled writers are employed to transform
memories into beautifully written narratives, capturing the essence of each individual.
Tangible products such as custom photo albums are crafted to provide seniors with a tactile
connection to their digital memories. Active participation in community events and
collaborations fosters a sense of belonging and shared experiences. The service ensures
reliable and secure delivery of personalized memory packages directly to seniors' doorsteps,
enhancing accessibility and convenience. Staff training prioritizes sensitivity and empathy,
catering to the unique needs of seniors, while collaborations with senior centers and
retirement communities build trust and familiarity within the target demographic. By
incorporating these features, the "Personalized Memory Lane Service" aims to offer a
comprehensive and meaningful experience that celebrates and preserves the life stories of
non-tech-savvy seniors in a concise and accessible manner.
Market Trends
In terms of market trends, there is an increasing demand for personalized memory
preservation services tailored to non-tech-savvy seniors, focusing on memory collection,
storytelling, and artifact creation. User-friendly interfaces are gaining importance to ensure
accessibility for seniors with varying levels of tech literacy. Tangible memory packages, such
as custom photo albums, are becoming more popular as they provide a tactile connection
to digital memories. Services that promote community engagement and family participation
are preferred, emphasizing the importance of collaboration and shared experiences.
Convenience is key, with a growing emphasis on delivery services that bring personalized
memory packages directly to seniors' doorsteps. Partnerships with local artists and
community centers are trending, adding cultural relevance and fostering a sense of
connection. Professional storytelling and personalized artifact creation are also gaining
traction, adding emotional depth to preserved memories. Staff training in sensitivity and
empathy is increasingly important to ensure a comfortable and trustworthy experience for
seniors, along with clear data protection compliance to address concerns related to privacy
and security.
Market Segmentation
Market segmentation involves dividing a heterogeneous market into smaller, more
manageable segments based on similar characteristics, needs, or behaviors. For the
Personalized Memory Lane Service, a thoughtful segmentation strategy is essential to
effectively target and serve diverse consumer groups. The following segmentation approach
considers various factors such as demographics, psychographics, and behavioral patterns:
Demographic Segmentation:
Demographic segmentation divides the market based on demographic factors such as age,
gender, income, education, and family size. For the Personalized Memory Lane Service, the
following demographic segments may be considered:
Seniors: This segment comprises individuals aged 65 and above who are the primary users
of the service. Within this segment, further segmentation can be based on factors such as
income level, education, and family size.
Adult Children: Adult children of seniors represent another key segment, as they may be
involved in decision-making or purchasing the service for their parents.
Middle to Upper-Income Families: Segments with higher disposable income levels may be
more inclined to invest in personalized memory preservation services.
Psychographic Segmentation:
Psychographic segmentation focuses on consumers' lifestyles, interests, values, and
personality traits. For the Personalized Memory Lane Service, the following psychographic
segments may be considered:
Nostalgic Individuals: Consumers who value nostalgia, cherish memories, and seek ways to
preserve and relive them.
Family-Oriented Individuals: Consumers who prioritize family bonds and value activities that
strengthen familial relationships.
Creative and Artistic Individuals: Consumers who appreciate creative expression and may
be drawn to the artistic elements of memory preservation, such as multimedia storytelling
and customizable themes.
Behavioral Segmentation:
Behavioral segmentation categorizes consumers based on their purchasing behavior, usage
patterns, brand loyalty, and engagement with products or services. For the Personalized
Memory Lane Service, the following behavioral segments may be considered:
Early Adopters: Consumers who are quick to embrace new technologies and services, such
as digital memory preservation platforms.
Traditionalists: Consumers who prefer traditional methods of memory preservation, such as

physical photo albums and scrapbooking.
Occasional Users: Consumers who may use the service sporadically for special occasions
or milestone events.
Regular Users: Consumers who regularly engage with the service and may benefit from
subscription or loyalty programs.
Geographic Segmentation:
Initially targeting Toronto, this venture capitalizes on its diverse demographic and cultural
landscape to preserve seniors' life stories and foster emotional connections. Potential
expansion into other Canadian cities and international markets with aging populations and
a penchant for memory preservation is anticipated, ensuring broad reach and impact.
Marketing Strategy
Drawing from our market research findings, our marketing strategy integrates product
enhancement, pricing optimization, promotion tactics, and strategic placement to resonate
with consumer preferences while thriving amidst competition.
Product Strategy
Expanding the product strategy for the Personalized Memory Lane Service goes beyond mere
enhancement of existing features. It entails exploring innovative avenues to meet evolving
consumer demands. This comprehensive approach includes various facets:
Interactive Digital Platforms: In addition to physical artifacts, an interactive online platform

will be developed to engage seniors in digital memory preservation. This platform will offer
user-friendly navigation and participation, catering to tech-savvy seniors and providing an
alternative for those inclined towards digital experiences.
Multimedia Storytelling: Introducing multimedia storytelling options will enrich the narrative
creation process by incorporating audio and video elements. This approach appeals to a
wider audience by accommodating different learning styles and preferences, thereby
enhancing the emotional impact of the preserved memories.
Collaborative Memory Projects: Facilitating collaborative memory projects allows multiple

family members to contribute to the creation of collective memory keepsakes. This fosters
a sense of unity and shared storytelling among different generations within families, thereby
strengthening familial bonds.
Customizable Memory Themes: Offering a variety of themes or templates for memory

preservation provides seniors with the opportunity to customize the aesthetic and style of
their memory artifacts. This personalized experience appeals to diverse interests and
cultural backgrounds, ensuring inclusivity.
Memory Preservation Workshops: Conducting memory preservation workshops led by

professionals fosters community engagement among seniors. These workshops provide a
collaborative and supportive environment for memory sharing, while also serving as an
additional revenue stream through workshop fees.
Pricing Strategy
Determining the pricing strategy for the Personalized Memory Lane Service involves a
delicate balance between the value provided, competitive landscape, and customer
willingness to pay. Key elements of the pricing strategy include:
Value-Based Pricing: Prices are determined based on the perceived value of the service to
customers, considering its emotional significance. This approach reflects the
comprehensive nature of the offerings and the emotional value associated with memory
preservation.
Tiered Pricing: Introducing tiered pricing options caters to different customer segments by
offering various packages with different levels of service or customization. This provides
flexibility for customers to choose the package that best fits their needs and budget.
Basic Package: CAD $99.99 - This package includes basic memory preservation services
such as digitalization of photos and documents, access to the online platform, and a
standard memory artifact.
Standard Package: CAD $199.99 - The standard package offers additional features like
multimedia storytelling options, customizable memory themes, and a higher level of
personalization.
Premium Package: CAD $349.99 - The premium package is tailored for customers seeking
comprehensive memory preservation solutions. It includes all features from the standard
package plus collaborative memory projects and priority access to workshops.
Workshop Fees: CAD $49.99 per session - Memory preservation workshops led by
professionals will be offered at a competitive fee to engage seniors and provide additional
revenue streams.
Promotion Strategy
Creating awareness and establishing a strong brand presence are vital for the success of the
Personalized Memory Lane Service. The promotion strategy includes various approaches:
Community Workshops and Events: Free entry -To engage with the local community and
establish trust, Personalized Memory Lane Service will host workshops and events at senior
centers, retirement communities, and local libraries. These events will educate attendees
on the importance of preserving memories and showcase the service's user-friendly
interfaces and personalized approach. By providing hands-on experiences, the company
aims to build relationships and generate word-of-mouth referrals.
Local Media Campaigns: Budget allocation of CAD $2,000 - Personalized Memory Lane
Service will invest in local media coverage to reach non-tech-savvy seniors in the
Scarborough area through newspapers, magazines, and online publications.
Targeted Social Media Campaigns: Budget allocation of CAD $1,500 per month - Targeted
social media campaigns on platforms like Facebook and Twitter will highlight the emotional
value of memory preservation and community involvement.
Testimonials and Word of Mouth: Encouraging satisfied customers to provide testimonials

and implementing a referral program helps build trust and credibility through authentic
customer experiences.
Loyalty Programs: Subscription models starting at CAD $9.99 per month, offering exclusive
discounts and perks for long-term engagement.
Place Strategy
Ensuring accessibility and convenience is crucial for the success of the Personalized
Memory Lane Service. The place strategy includes:
Senior Communities and Retirement Residences: Conducting memory collection sessions

and workshops directly within these communities facilitates easy access for seniors.
Online Platform: Creating a user-friendly website serves as a hub for collaboration and
service delivery, ensuring nationwide accessibility.
Cultural and Community Centers: Establishing a presence in these centers through

collaborative events and educational workshops helps expand reach and visibility.
Partnerships with Local Businesses: Forming partnerships with local businesses facilitates
showcasing and promotion of the service, reaching a wider audience.
Scarborough Toronto Headquarters: Leveraging the strategic location of the headquarters

for effective operations and community engagement ensures accessibility and facilitates
outreach initiatives.
People Strategy
Customer-Centric Approach: Ensuring every interaction reflects empathy and dedication to
meeting customer needs.
Training and Development: Investing in ongoing staff training to enhance memory

preservation techniques and customer service skills.
Diverse and Inclusive Team: Building a team that reflects customer demographics, fostering
better understanding and connection.
Empowerment and Feedback: Empowering employees and soliciting feedback to improve

processes and customer experiences.
Operating Plan
Our operating plan outlines the strategies and resource allocations crucial for Personalized
Memory Lane's success. From staffing and facilities to quality control and customer
support, we're committed to excellence in memory preservation and satisfaction.
Staffing and Organizational Structure

We plan to hire a team of approximately 15 professionals with diverse backgrounds relevant
to our business needs. This team will include memory preservation experts, customer
service representatives, digital content creators, marketing and sales specialists, operations
managers, and administrative staff. Each team member will have clearly defined roles and
responsibilities to ensure smooth workflow and accountability within the organization.
Facilities and Equipment

Regarding facilities and equipment, we will secure a central office space in Scarborough,
Toronto, with an estimated monthly rent of CAD $5,000. Additionally, we anticipate spending
approximately CAD $20,000 on equipping the office with necessary infrastructure such as
furniture, computers, printers, scanners, and audio/video editing software. For the online
platform, we plan to allocate approximately CAD $10,000 for hosting on reliable servers and
ensuring robust security measures.
Supplier and Vendor Relationships

To establish supplier and vendor relationships, we will partner with trusted suppliers for
materials required in memory preservation, estimating an annual expenditure of CAD
$15,000. This includes sourcing high-quality paper for printed artifacts and archival-grade
storage solutions. For digital services, we will collaborate with vendors, allocating an annual
budget of CAD $30,000 to ensure timely delivery of multimedia content creation and online
platform maintenance.
Operational Processes
In terms of operational processes, we will implement standardized procedures for memory
collection, digitalization, content creation, and artifact production. We anticipate spending
approximately CAD $5,000 on developing a user-friendly interface for the online platform to
facilitate easy navigation and engagement for seniors and their families. Additionally, we will
allocate funds for customer inquiry management systems, order processing software, and
delivery logistics, estimating an annual expenditure of CAD $25,000.
Quality Control and Assurance

Quality control and assurance measures will be integrated at each stage of the process to
maintain accuracy and integrity in preserving memories. We plan to allocate approximately
CAD $10,000 annually for conducting regular reviews, audits, and customer feedback
mechanisms to identify areas for improvement and ensure high service quality.
Financial Management
In terms of financial management, we will establish an annual operating budget of CAD
$500,000, covering staffing costs, equipment purchases, marketing campaigns, and
overhead expenses. Financial tracking and reporting systems will be implemented to
monitor revenue, expenses, and profitability, with an estimated annual expenditure of CAD
$50,000 for accounting services and software.
Customer Support and Satisfaction

Customer support and satisfaction will be prioritized through various channels such as
phone, email, and live chat, with an estimated annual expenditure of CAD $50,000 for
customer service salaries and training programs.
Continuous Improvement and Innovation

Continuous improvement and innovation initiatives will be supported through an annual
research and development budget of CAD $50,000. This includes investments in exploring
new avenues for memory preservation, staying updated on industry trends, and
incorporating innovative features and services into our offerings. Overall, we aim to allocate
resources strategically to ensure operational efficiency, high-quality service delivery, and
sustainable growth of the Personalized Memory Lane business.
Financial Plan
Startup Assets Startup Liabilities
Capital Expenditures $ 20,000 Current Borrowing $ 50,000
Cash $ 90,000 Long Term Liabilities $0
Total Startup Assets $110,000 Total Startup Liabilities $ 50,000
Startup Expense Startup Investment

Initial Capital: $ 50,000 Owner $ 40,000
Working Capital: $ 30,000 Investor $0
Total Startup Expense $ 80,000 Total Planned Investment $ 40,000
Total Requirement Startup Funding

Startup Expense $ 80,000 Total Startup Liabilities $ 50,000
Startup Assets $110,000 Total Planned Investment $ 40,000
Total Requirement $190,000 Total Funding $ 90,000
Our venture's financing needs amount to $190,000, encompassing startup expenses and
assets essential for our business's establishment and growth. These expenses include initial
capital of $50,000, crucial for setting up our infrastructure and acquiring necessary
resources, alongside working capital of $30,000, vital for covering day-to-day operational
expenses. Additionally, we require $110,000 for startup assets, including capital
expenditures and ensuring adequate cash reserves to sustain operations and drive
expansion. While we have secured $90,000 in funding, comprising $50,000 from current
borrowing and $40,000 from our owner's investment, there remains a shortfall of $100,000.
To bridge this gap and meet our total funding requirement, we are seeking external
investment. This request is crucial to ensure that we have the financial resources necessary
to cover our startup expenses, acquire essential assets, and maintain sufficient working
capital to support ongoing operations and future growth initiatives.
Key Metrics
Orders Total Revenue Gross Margin EBIT
Year 01 2,000 $ 660,000 $90,000 $ (742,000)
Year 02 3,000 $ 978,500 $ 97,850 $ (304,150)
Year 03 5,000 $ 1,699,125 $ 231,375 $ (182,625)
Year 04 6,000 $ 2,283,958 $ 522,658 $ 95,657
Year 05 9,000 $ 3,764,926 $ 1,043,718 $ 603,718
Revenue Forecast
Year 1 Year 2 Year 3 Year 4 Year 5
Revenue by Product
Basic Package 150,000 258,750 495,938 684,394 1,180,579
Standard Package 100,000 172,500 330,625 456,263 787,053
Premium Package 200,000 300,000 575,000 793,500 1,368,788
Workshop fees 10,000 17,250 33,063 45,626 78,705
Subscription 200,000 230,000 264,500 304,175 349,801
Total Revenue 660,000 978,500 1,699,125 2,283,958 3,764,926
Production Costs
Memory Collection Sessions 100,000 154,500 257,500 309,000 477,405
Professional Storytelling 200,000 309,000 515,000 618,000 954,810
Tangible Artifact Creation 150,000 231,750 386,250 463,500 716,108
Artisanal Crafts for Artifacts 60,000 92,700 154,500 185,400 286,443
Transportation for Memory Sessions 60,000 92,700 154,500 185,400 286,443
Total Cost of Good Sold 570,000 880,650 1,467,750 1,761,300 2,721,209
As a startup business, our production forecast offers a glimpse into both the opportunities
and challenges ahead. We've outlined revenue projections for various product categories,
including Basic, Standard, and Premium Packages, Workshop Fees, and Subscriptions, over
a five-year period. While we're optimistic about the growth trajectories projected for each
product category, with significant increases anticipated annually, there are notable
concerns regarding our production costs. Particularly, the costs associated with Memory
Collection Sessions, Professional Storytelling, and Tangible Artifact Creation are expected
to rise substantially over the forecast period.
Projected Balance Sheet
Memory Lane Service

Pro Forma Balance Sheet (Thousands CAD)
Assets
Current Asset:
Cash 70 109 134 260 375
Accounts Receivable 39 73 120 95 108
Prepaid Expense 11 18 25 25 29
Inventory 29 33 32 35 39
Total Current Assets 149 233 311 415 551
Fixed Assets:
Intangible Assets - - - - -
Tangible Assets 18 16 14 12 10
Total Long-term Assets 18 16 14 12 10
Total Assets 167 249 325 427 561
Liabilities
Current Liabilities:
Accounts Payable 18 21 29 33 35
Accrued Expense 8 9 11 14 16
Unearned Revenue 7 6 9 12 13
Total Current Liabilities 33 36 49 59 64
Long Term Debt 50 50 50 50 50
Other Long-term liability 8 11 10 13 15
Total Liability 91 97 109 122 129
Shareholder's Equity
Equity Capital 40 40 40 40 40
Retained earnings 36 112 176 265 392
Total Shareholder's Equity 76 152 216 305 432
Total Liabilities and Shareholder's Equity 167 249 325 427 561
The balance sheet over the projected five years highlights several key achievements. Our
current assets, including cash, receivables, and inventory, show consistent growth,
reflecting effective resource management and healthy cash flow. Stable fixed assets
underscore our commitment to operational infrastructure. Despite modest increases in
liabilities, shareholder's equity experiences significant growth, driven by robust earnings and
prudent reinvestment. This balance sheet reflects our sound financial position, strategic
planning, and commitment to delivering long-term value to stakeholders, positioning us for
sustained success and growth.
Projected Income Statement
Memory Lane Service

Pro Forma Income Statement
Revenue 660,000 978,500 1,699,125 2,283,958 3,764,926
Cost of goods sold (COGS) 570,000 880,650 1,467,750 1,761,300 2,721,209
Gross Margin 90,000 97,850 231,375 522,658 1,043,718

Expenses
Marketing, Advertising &
Promotion 100,000 100,000 100,000 100,000 100,000
General Administrative 611,000 159,000 172,000 179,000 186,000
Depreciation & Amortization 11,000 18,000 15,000 17,000 21,000
Operating Expenses 110,000 125,000 127,000 131,000 133,000
Total expenses 832,000 402,000 414,000 427,000 440,000
Earnings before Tax (742,000) (304,150) (182,625) 95,657 603,718
Taxes 96,460 39,540 23,741 12,435 78,483
Net Earnings (838,460) (343,690) (206,366) 83,222 525,234
As a startup venture, our production and revenue forecasts outline a journey towards
consistent growth over the next five years. We anticipate achieving the break-even point in
Q2 of Year 4, marking a significant milestone in our path to success (Appendix-2). While we
acknowledge the challenges of low gross margins and negative EBIT in our initial years, we
are confident in our ability to pivot towards profitability by streamlining operations and
boosting efficiency. The fluctuations in quarterly EBIT reflect the seasonal nature of our
business operations, requiring us to remain agile and adaptable. We are committed to
prudent cost management and strategic investments in growth initiatives to ensure our long-
term viability and success in the market.
Projected Cash Flow Statement

Memory Lane Service
Pro Forma Cash Flow Statement
Cash Flows from Operating Activities
Net Earnings (838,460) (343,690) (206,366) 83,222 525,234
Depreciation & Amortization 11,000 18,000 15,000 17,000 21,000
Changes in Working Capital
Accounts Receivable 39,000 34,000 (25,000) (25,000) 13,000
Prepaid Expense 11,000 7,000 7,000 - 4,000
Inventory (29,000) 4,000 (1,000) 3,000 (4,000)
Accounts Payable 18,000 3,000 8,000 4,000 2,000
Accrued Expense 8,000 1,000 2,000 3,000 2,000
Unearned Revenue 7,000 (1,000) 3,000 3,000 1,000
Net Cash from Operating Activities (774,460) (278,690) (197,366) 88,222 562,234
Cash Flows from Investing Activities
Purchase of Fixed Assets (18,000) (16,000) (14,000) (12,000) (10,000)
Net Cash from Investing Activities (18,000) (16,000) (14,000) (12,000) (10,000)
Cash Flows from Financing Activities
Long Term Debt Issued/ (Repaid) - - - - -
Equity Capital Issued/ (Repaid) - - - - -
Net Cash from Financing Activities - - - - -
Net Increase/(Decrease) in Cash (792,460) (294,690) (211,366) 76,222 552,234
Cash at Beginning of Period 70,000 109,000 134,000 260,000 375,000
Cash at End of Period 70,000 109,000 134,000 336,222 927,234
In analyzing our pro forma cash flow statement, we anticipate a journey of steady
improvement and resilience over the upcoming five-year period for Memory Lane Service.
While we foresee challenges in the initial years, including potential negative net earnings and
decreased cash flows from operating activities, we are committed to implementing strategic
adjustments. Through prudent management of working capital and other key financial
levers, we anticipate turning the tide by Year 4, achieving positive net earnings and a
significant increase in cash flows from operations. Our key objectives include navigating
through potential initial losses to attain profitability, transitioning from a projected net loss
of $838,460 in Year 1 to a net gain by Year 4 (Appendix-3). Furthermore, our disciplined
approach to financial management will be evident in the gradual reduction of projected net
losses over the first three years, culminating in sustained positive cash flows thereafter.
Additionally, we aim to maintain stable cash reserves and even enhance them by Year 5,
despite anticipated investments in fixed assets, demonstrating our commitment to financial
resilience and potential for future growth. We believe this steady progression will underscore
the effectiveness of our strategic initiatives and position us favorably for continued success
in the years ahead.
Liquidity Ratios
Current Ratio 4.52 6.47 6.35 7.03 8.61
Quick Ratio 3.64 5.22 5.73 6.86 8.70
Cash Ratio 2.12 3.03 2.73 4.41 5.25
NWC to Total Assets Ratio 0.69 0.79 0.81 0.83 0.87
In the coming five years, we anticipate seeing a consistent upward trend in Memory Lane
Service's liquidity ratios, reflecting our strong financial health and efficient short-term
obligation management. Our current ratio is expected to steadily increase from 4.52 in Year
1 to 8.61 in Year 5, indicating our improved ability to cover liabilities with current assets.
Similarly, our quick ratio will rise from 3.64 to 8.70, demonstrating enhanced liquidity without
relying heavily on inventory. We foresee a significant improvement in our cash ratio from 2.12
to 5.25, underscoring a stronger cash position. Additionally, our NWC to Total Assets Ratio
will show consistent growth, indicating improved working capital management. These
trends will highlight our effective financial management, positioning us well to tackle short-
term challenges and seize future opportunities.
Sensitivity Analysis
Best Case Scenario (Revenue & COGS Increase by 15%)
Revenue 759,000 1,125,275 1,953,994 2,626,551 4,329,665
Cost of Goods Sold 655,500 1,012,748 1,687,913 2,025,495 3,129,390
Gross Margin 103,500 112,528 266,081 601,056 1,200,275
Gross Margin/Revenue 14% 10% 14% 23% 28%
EBIT (741,500) (289,473) (147,919) 174,056 760,275
EBIT/Revenue -98% -26% -8% 7% 18%
Worst Case Scenario (Revenue & COGS Decrease by 15%)

Revenue 561,000 831,725 1,444,256 1,941,364 3,200,187
Cost of Goods Sold 484,500 748,553 1,247,588 1,497,105 2,313,027
Gross Margin 76,500 83,173 196,669 444,259 887,160
Gross Margin/Revenue 14% 10% 14% 23% 28%
EBIT (768,500) (318,828) (217,331) 17,259 447,160
EBIT/Revenue -137% -38% -15% 1% 14%
The sensitivity analysis reveals the significant impact of changes in revenue and cost of
goods sold on the venture's financial performance. In the best-case scenario, where both
variables increase by 15%, we observe promising growth trajectories, with profitability
achieved by Year 5. Conversely, in the worst-case scenario of a 15% decrease in revenue and
COGS, our venture faces considerable challenges, experiencing sustained losses initially
but showing signs of recovery towards breakeven by Year 5. These findings underscore the
imperative for us to prioritize revenue generation and implement robust cost management
strategies.
Net Present Value (5th Year) Internal Rate of Return

$ 949,091.92 12.19%
Based on our meticulous analysis utilizing discounted cash flow techniques, we project an
impressive Net Present Value (NPV) of $949,091.92 for our venture in the fifth year. This
valuation reflects our anticipation of future cash flows, adjusted for the time value of money,
and provides a compelling estimate of our venture's worth in five years' time. As we invite
potential investors to consider our business, we highlight the significant growth potential
and profitability it embodies.
With an internal rate of return (IRR) value of 12.19%, calculated from the initial investment
to the projected cash out after 5 years, our venture presents an attractive opportunity for
potential investors seeking substantial returns. This figure represents the rate at which our
investment is expected to grow over the specified period, indicating the profitability and
viability of our business model. As we consider potential investors, we emphasize the
potential for significant returns upon cashing out, making our venture an appealing prospect
for those looking to maximize their return on investment.
Growth Roadmap
Year One: Establishing Local Presence (Toronto)
In the first year, we will concentrate on establishing a strong presence in Toronto. Through
meticulous market research, we'll gain insights into the local demographics and
competition. This will guide our efforts in forging strategic partnerships with local
businesses, event organizers, and community centers to extend our reach. Our focus will be
on acquiring customers through targeted marketing campaigns, ensuring a steady flow of
personalized memory projects. Operational efficiency will be paramount as we streamline
internal processes to deliver exceptional service and maintain high-quality standards.
Year Two: Expansion Within Ontario

In the second year, we will expand our operations to a few select cities within Ontario.
Drawing on insights gained from our successful launch in Toronto, we'll tailor our marketing
strategies to each new city, aiming to grow our customer base and revenue streams.
Alongside this expansion, we'll invest in scalable infrastructure and resources to support the
increasing demand for personalized memory projects. Strengthening partnerships with local
businesses and organizations will remain a priority to enhance brand visibility and market
reach.
Year Three: Solidifying Position in Ontario

During year three, we'll focus on solidifying our position as a reputable service provider
throughout Ontario. Building on existing partnerships and customer relationships, we'll
intensify our efforts in brand recognition through consistent marketing initiatives and
community engagement activities. Loyalty programs and incentives will be introduced to
foster customer retention and satisfaction. Quality assurance will continue to be a
cornerstone of our operations as we strive to maintain our reputation for delivering
exceptional products and services.
Year Four: Cautious Expansion to Other Provinces

In year four, we'll cautiously explore expansion into other provinces in Canada. Thorough
market assessments and feasibility studies will precede any expansion efforts to ensure
financial stability and operational readiness. Flexibility and agility will be key as we adapt our
business strategies to the unique dynamics of new markets. Establishing strong regional
partnerships and integrating customer feedback will be pivotal in laying the groundwork for
successful market entry and sustained growth.
Year Five: Regional Presence in Canada and International Expansion Exploration

By the fifth year, we aim to have a strong regional presence in Canada while exploring the
potential for modest international expansion. Building on our success in multiple provinces,
we'll consolidate our position as a leading provider of personalized memory projects.
Feasibility studies and market penetration strategies will guide our exploration into
international markets, ensuring a thoughtful and strategic approach to expansion.
Upholding responsible business practices will remain a core value as we strive for
sustainable growth and positive impact, both domestically and internationally.
Management Team
Samia Azim Dooty | Chief Executive Officer

Samia Azim Dooty, CEO of Personalized Memory Lane Service, boasts a distinguished career
in customer relations and elderly care. With over a decade of hands-on experience working
directly with seniors, Samia has developed a profound understanding of their unique needs
and preferences. Her background includes implementing innovative solutions to enhance
the quality of life for elderly individuals, demonstrating her commitment to improving the
aging experience. Additionally, Samia has spearheaded several community outreach
programs aimed at promoting senior well-being, showcasing her dedication to making a
meaningful impact beyond the confines of her role. With a keen eye for detail and a passion
for creating personalized experiences, Samia is well-equipped to lead Personalized Memory
Lane Service towards success.
Muntaha Chowdhury Farzeen | Chief Financial Officer

Muntaha Chowdhury Farzeen, CFO of Personalized Memory Lane Service, brings a wealth of
expertise in finance and business development to the table. With a solid background in
financial planning and analysis, Muntaha has successfully navigated complex financial
landscapes, optimizing resources and maximizing returns. Her strategic acumen and
proficiency in risk management have enabled her to steer companies through periods of
growth and uncertainty alike. Moreover, Muntaha's collaborative approach and effective
communication skills have fostered strong relationships with stakeholders, facilitating
smooth operations and strategic decision-making. With a track record of driving financial
performance and facilitating organizational growth, Muntaha is instrumental in shaping the
financial future of Personalized Memory Lane Service.
Khaled Hassan | Chief Marketing Officer

Khaled Hassan, Chief Marketing Officer of Personalized Memory Lane Service, brings a
wealth of experience in marketing and project management to the team. With a proven track
record of successfully launching and managing community-focused initiatives, Khaled
possesses a deep understanding of consumer behavior and market dynamics. His
innovative approach to marketing strategies, coupled with his proficiency in data analysis,
enables him to develop tailored solutions that resonate with target audiences. Khaled's
creative flair and attention to detail have resulted in the creation of compelling storytelling
content that effectively engages customers and fosters brand loyalty. Additionally, his strong
leadership skills and ability to collaborate cross-functionally ensure alignment between
marketing efforts and overall business objectives. With Khaled at the helm of marketing
operations, Personalized Memory Lane Service is well-positioned to effectively reach and
connect with its target market.
Nasirul Hasan | Chief Operating Officer

Nasirul Hasan, COO of Personalized Memory Lane Service, is a seasoned professional with
a proven track record in web development and digital platforms. With extensive experience
in designing and optimizing user-friendly online interfaces, Nasirul has played a pivotal role
in enhancing the digital presence of numerous organizations. His technical expertise,
coupled with his strategic vision, enables him to effectively oversee the development and
implementation of operational strategies that drive business growth. Nasirul's commitment
to data security and privacy ensures that Personalized Memory Lane Service maintains the
trust and confidence of its customers. Furthermore, his strong leadership skills and ability
to foster a culture of innovation and collaboration empower teams to achieve their full
potential. With Nasirul leading operational efforts, Personalized Memory Lane Service is
poised for success in the digital age.
Risks
Market Risks
Changing Demographics: Shifting demographics, such as fluctuations in the senior
population or changes in family structures, could impact the demand for personalized
memory preservation services.
Economic Downturn: Economic downturns or recessions may affect seniors' disposable

income, leading to decreased spending on non-essential services like ours.
Technological Advancements: Rapid advancements in technology may introduce

alternative solutions or platforms that compete with our traditional memory preservation
services, posing a threat to our market position.
Competitive Risks
Emerging Competition: New entrants or existing competitors introducing similar
personalized memory preservation services could intensify competition and erode our
market share.
Established Players: Established companies with greater resources or brand recognition
may enter the market or expand their offerings, posing a challenge to our market penetration
efforts.
Substitute Products: Non-traditional alternatives or substitute products, such as DIY

memory preservation kits or digital scrapbooking platforms, may divert potential customers
away from our services.
Financial Risks
Revenue Volatility: Fluctuations in customer demand or seasonal variations may lead to
revenue volatility, impacting our ability to maintain consistent cash flow and meet financial
obligations.
Capital Constraints: Limited access to financing or investment capital may hinder our
ability to fund expansion efforts, develop new services, or invest in marketing initiatives.
Cost Overruns: Unexpected increases in operational expenses, such as materials, labor, or

overhead costs, could strain our financial resources and affect profitability.
Operating Risks
Technology Failure: Dependence on technology for memory collection, storytelling, and
artifact creation introduces the risk of system failures, data breaches, or disruptions that
could disrupt operations and damage our reputation.
Quality Control: Ensuring the quality and accuracy of memory preservation services,
including storytelling and artifact creation, is crucial to customer satisfaction. Any lapses in
quality control processes could lead to dissatisfaction and negative word-of-mouth.
Regulatory Compliance: Compliance with data protection regulations, intellectual

property laws, and other legal requirements related to memory preservation and storytelling
is essential to avoid legal disputes or penalties that could harm our business operations.
The Venture as an Investment:

We recognize the importance of understanding how our business could appeal to potential
investors. We aim to gain insights into how our venture could attract investment, assess its
potential value, and explore the perspective of an investor. This exercise will allow us to
critically evaluate our business model, market potential, and growth prospects from an
external standpoint.
Attractiveness of the Venture for the investors:

Market Potential: Despite the inherent risks associated with any business venture, our
personalized memory preservation service operates in a niche market with significant
growth potential. The aging population and increasing awareness of the importance of
preserving memories make our venture particularly attractive. The growing demand for
personalized services adds to the appeal, offering a unique value proposition to customers.
Social Impact: Beyond financial returns, our venture offers the opportunity for meaningful
social impact. By addressing the prevalent issue of social isolation among non-tech-savvy
seniors and enhancing their emotional well-being through memory preservation, we
contribute positively to society. This dual focus on profitability and social responsibility
enhances the attractiveness of our venture to socially conscious investors.
Scalability and Growth Potential: With a scalable business model and continuous
innovation, our venture has the potential for rapid growth and expansion. The ability to
leverage technology, establish strategic partnerships, and tap into diverse revenue streams
enhances our scalability, making us an appealing investment opportunity for investors
seeking high-growth ventures.
Long-term Sustainability: Our venture's investment horizon aligns with our long-term vision
of building a sustainable and impactful business. By focusing on sustainable growth
strategies and maintaining a strong market position, we ensure the longevity and resilience
of our venture, offering investors the prospect of consistent returns over the long term.
Diversified Revenue Streams: The diversified revenue streams outlined in our business
model mitigate the risk associated with relying on a single source of income. By offering
various packages, workshops, and subscription-based services, we spread the revenue risk
and create multiple avenues for generating returns, increasing the attractiveness of our
venture to investors.
Despite the market, competitive, financial and operating risks in our business venture, it
offers investors the potential for attractive returns while making a positive difference in the
lives of seniors and their families.
Equity Offering: Finding the Right Balance

While we currently do not have immediate plans to offer equity to investors, understanding
the hypothetical scenario is crucial for future considerations. Considering factors such as
market size, growth prospects, revenue streams, and competitive landscape is essential to
assess the current value and potential growth of the venture. After 5 years, we may require
some investment to scale up our operations as we expand into new markets and enhance
our product offerings. In that case, potential investors may expect to receive a proportional
ownership stake in exchange for their investment amount. Our financial analysis reveals that
our venture falls into the moderate-risk category and hence our risk-return profile will
influence the equity offering, balancing the investor's expectations with the venture's
potential return. Some adjustments to the equity offering may also be made to align with
market expectations. We may also offer favorable terms such as governance rights, exit
strategies, and potential future financing rounds to facilitate a mutually beneficial
agreement.
And as we already mentioned, although we do not currently have immediate plans to offer
equity to investors, we remain vigilant and prepared for any potential scenarios.
Hypothetical Evaluation as an Investor: Would This Venture Get My

Backing?
This is an interesting scenario, where we want to put on an investor’s hat. Although we would
be very biased, we want to see our venture through a different lens. Even if we were the
investors, rather than one of the entrepreneurial team, we would definitely vouch for the
team's expertise, experience, and ability to execute the business plan based on the team
members' backgrounds, qualifications, and track record of success in relevant fields. Market
potential is another factor that would influence us to invest in this venture. Since the market
research indicates significant growth potential with limited competition, it enhances the
attractiveness of the venture as an investment opportunity. The venture effectively
addresses unmet needs of the target market and offers innovative features or technology,
hence it increases the likelihood of attracting customers and generating sustainable revenue
streams, thereby enhancing its attractiveness as an investment opportunity.
On hindsight, if we were the investors, we would like to assess whether the venture has
identified potential risks and implemented robust measures to mitigate them. We would
prefer strategies such as diversifying revenue streams, securing intellectual property rights,
establishing strategic partnerships, or maintaining sufficient financial reserves. Effective
risk management measures would reduce investment risk and enhance the venture's appeal
to us as investors.
Appendix
Appendix-01
Business Model Canvas
Mission: To honor the unique life stories of seniors, fostering connections and creating enduring legacies through personalized memory preservation
Activities and Resources: Value Proposition: Customer Segments and Relationships:
Main activities: Personalized Memory Collection Sessions, Professional Storytelling, Tangible Customer segments: Seniors (Aged 65 and above): Seeking personalized memory preservation.
Artifact Creation, Community Engagement Events, Marketing and Brand Building. Stakeholders: Seniors and Families: Family Members: Interested in preserving the legacies of their loved ones.
Operational support: Online Platform Management, Customer Support and Training, Meaningful, personalized memory Sales and marketing approach: Strategic Partnerships: Collaborate with senior centers, retirement
Continuous Innovation and Service Enhancement, Collaboration with Elder Care Professionals, preservation fostering emotional communities, and community centers. Community Engagement: Conduct workshops, events, and
Event Coordination connections. informative sessions. Online Presence: Leverage local media, community newsletters, and social
Resources required: Expert Team (Web Development, Marketing, Elderly Care), Online Platform Community Centers and Partners: media platforms.
Infrastructure, Relationships with Elder Care Professionals, Storytellers, and Artisans, Marketing Collaboration opportunities addressing Customer relationships: Exceptional Experience: Sensitivity, empathy, and respect in every
and Outreach Budget, Workshop and Event Spaces. social isolation. interaction. Regular Communication: Utilize the online platform for continuous engagement. Trust
Customers/recipients: Non-tech-savvy Building: Showcase testimonials and success stories to instill confidence.
Partners: Competitors/Complements: Seniors: Personalized memory solutions for Intended Impact: Impact Measurement:
Senior Centers, Retirement Communities, Competitors: Traditional photo album services, legacy preservation. Problems addressed: Measurement criteria: Engagement Rates: Tracking
and Community Centers: Strategic memoir ghostwriting services, digital memory Family Members: Access to a service Social Isolation: Addressing the prevalent participation in memory collection sessions, events,
partnerships for outreach and collaboration. preservation platforms. honoring and preserving the life stories of issue of social isolation among non-tech- and workshops.
Elder Care Professionals, Storytellers, Participants: Non-tech-savvy seniors (65 and loved ones. savvy seniors, fostering connections with Customer Satisfaction: Evaluating feedback,
Artisans, and Technology Experts: above) and their families. Funders: Investors: Support a socially their families and communities. testimonials, and overall satisfaction.
Collaborative relationships to enhance Complements: Local media, community impactful venture in the growing market for Emotional Well-being: Enhancing the Social Impact Metrics: Measuring the reduction in
service offerings. newsletters, and social media platforms personalized memory solutions. emotional well-being of seniors through the reported social isolation among seniors.
Local Artists: Partnerships for community supporting marketing efforts. Traditional photo Grants and Funds: Back initiatives preservation of cherished memories and Direct and indirect impact: Direct impact on
engagement events, workshops, and album services and digital platforms can combating senior social isolation with the creation of tangible reminders. Seniors and their families, indirect impact on
sessions. complement the service for a comprehensive innovative approaches. Communities and society.
memory preservation approach.
Revenue Stream: Cost Structure:
Sources of revenue: Earned income from selling of products, program related investment, Debt, Social Impact Bonds Costs: Expenses related to Salary, rent, platform maintenance, marketing, and potentially technology development.
Revenue basis: Depending on the volume and complexity of unit ordered, with potential variations in pricing models. Fixed and variable components: Fixed costs for Salary, rent, advertising, platform maintenance, variable costs based on
per unit production cost.
Per unit basis: Cost efficiency linked to the number of unit produced .
Basic organization form: Social enterprise with a focus on impact, utilizing a hybrid model that combines for-profit elements (earned income) with a non-profit mission (social impact).
Appendix-02
5 Year Income Statement (Quarterly )
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenue by Product
Basic Package 15,000 30,000 45,000 60,000 25,875 51,750 77,625 103,500 99,188 99,188 148,781 148,781 136,879 171,098 171,098 205,318 236,116 295,145 295,145 354,174
Standard Package 10,000 20,000 30,000 40,000 17,250 34,500 51,750 69,000 66,125 66,125 99,188 99,188 91,253 114,066 114,066 136,879 157,411 196,763 196,763 236,116
Premium Package 20,000 40,000 60,000 80,000 30,000 60,000 90,000 120,000 115,000 115,000 172,500 172,500 158,700 198,375 198,375 238,050 273,758 342,197 342,197 410,636
Workshop fees 1,000 2,000 3,000 4,000 1,725 3,450 5,175 6,900 6,613 6,613 9,919 9,919 9,125 11,407 11,407 13,688 15,741 19,676 19,676 23,612
Subscription 20,000 40,000 60,000 80,000 23,000 46,000 69,000 92,000 52,900 52,900 79,350 79,350 60,835 76,044 76,044 91,253 69,960 87,450 87,450 104,940
Total Revenue 66,000 132,000 198,000 264,000 97,850 195,700 293,550 391,400 339,825 339,825 509,738 509,738 456,792 570,989 570,989 685,187 752,985 941,232 941,232 1,129,478
Production Costs
Memory Collection Sessions 10,000 20,000 30,000 40,000 15,450 30,900 46,350 61,800 51,500 51,500 77,250 77,250 61,800 77,250 77,250 92,700 95,481 119,351 119,351 143,222
Professional Storytelling 20,000 40,000 60,000 80,000 30,900 61,800 92,700 123,600 103,000 103,000 154,500 154,500 123,600 154,500 154,500 185,400 190,962 238,703 238,703 286,443
Tangible Artifact Creation 15,000 30,000 45,000 60,000 23,175 46,350 69,525 92,700 77,250 77,250 115,875 115,875 92,700 115,875 115,875 139,050 143,222 179,027 179,027 214,832
Artisanal Crafts for Artifacts 6,000 12,000 18,000 24,000 9,270 18,540 27,810 37,080 30,900 30,900 46,350 46,350 37,080 46,350 46,350 55,620 57,289 71,611 71,611 85,933
Transportation 6,000 12,000 18,000 24,000 9,270 18,540 27,810 37,080 30,900 30,900 46,350 46,350 37,080 46,350 46,350 55,620 57,289 71,611 71,611 85,933
Total Cost of Good Sold 57,000 114,000 171,000 228,000 88,065 176,130 264,195 352,260 293,550 293,550 440,325 440,325 352,260 440,325 440,325 528,390 544,242 680,302 680,302 816,363
Gross Margin 9,000 18,000 27,000 36,000 9,785 19,570 29,355 39,140 46,275 46,275 69,413 69,413 104,532 130,664 130,664 156,797 208,744 260,929 260,929 313,115
Gross Margin/Revenue 1% 3% 4% 5% 1% 2% 3% 4% 3% 3% 4% 4% 5% 6% 6% 7% 6% 7% 7% 8%
Expenses
Advertising & Promotion 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000
General Administrative 427,700 61,100 61,100 61,100 39,750 39,750 39,750 39,750 43,000 43,000 43,000 43,000 44,750 44,750 44,750 44,750 46,500 46,500 46,500 46,500
Depreciation & Amortization 2,750 2,750 2,750 2,750 4,500 4,500 4,500 4,500 3,750 3,750 3,750 3,750 4,250 4,250 4,250 4,250 5,250 5,250 5,250 5,250
Operating Expenses 27,500 27,500 27,500 27,500 31,250 31,250 31,250 31,250 31,750 31,750 31,750 31,750 32,750 32,750 32,750 32,750 33,250 33,250 33,250 33,250
Total expenses 482,950 116,350 116,350 116,350 100,500 100,500 100,500 100,500 103,500 103,500 103,500 103,500 106,750 106,750 106,750 106,750 110,000 110,000 110,000 110,000
EBIT (473,950) (98,350) (89,350) (80,350) (90,715) (80,930) (71,145) (61,360) (57,225) (57,225) (34,088) (34,088) (2,219) 23,914 23,914 50,047 98,744 150,929 150,929 203,115
EBIT/Revenue -718% -75% -45% -30% -93% -41% -24% -16% -17% -17% -7% -7% 0% 4% 4% 7% 13% 16% 16% 18%
Appendix-03
5 Year Cash Flow Statement (Quarterly )

Cash Flows from Operating Activities Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Net Earnings (83,846) (167,692) (251,538) (335,384) (34,369) (68,738) (103,107) (137,476) (41,273) (41,273) (61,910) (61,910) 16,644 20,806 20,806 24,967 131,309 131,309 131,309 131,309
Depreciation & Amortization 1,100 2,200 3,300 4,400 1,800 3,600 5,400 7,200 3,000 3,000 4,500 4,500 3,400 4,250 4,250 5,100 5,250 5,250 5,250 5,250
Changes in Working Capital - - - - - - - - - - - - - - - - - - - -
Accounts Receivable 3,900 7,800 11,700 15,600 3,400 6,800 10,200 13,600 (5,000) (5,000) (7,500) (7,500) (5,000) (6,250) (6,250) (7,500) 3,250 3,250 3,250 3,250
Prepaid Expense 1,100 2,200 3,300 4,400 700 1,400 2,100 2,800 1,400 1,400 2,100 2,100 - - - - 1,000 1,000 1,000 1,000
Inventory (2,900) (5,800) (8,700) (11,600) 400 800 1,200 1,600 (200) (200) (300) (300) 600 750 750 900 (1,000) (1,000) (1,000) (1,000)
Accounts Payable 1,800 3,600 5,400 7,200 300 600 900 1,200 1,600 1,600 2,400 2,400 800 1,000 1,000 1,200 500 500 500 500
Accrued Expense 800 1,600 2,400 3,200 100 200 300 400 400 400 600 600 600 750 750 900 500 500 500 500
Unearned Revenue 700 1,400 2,100 2,800 (100) (200) (300) (400) 600 600 900 900 600 750 750 900 250 250 250 250
Net Cash from Operating Activities (77,446) (154,892) (232,338) (309,784) (27,869) (55,738) (83,607) (111,476) (39,473) (39,473) (59,210) (59,210) 17,644 22,056 22,056 26,467 140,559 140,559 140,559 140,559
- - - - - - - - - - - - - - - - - - - -
Cash Flows from Investing Activities - - - - - - - - - - - - - - - - - - - -
Purchase of Fixed Assets (1,800) (3,600) (5,400) (7,200) (1,600) (3,200) (4,800) (6,400) (2,800) (2,800) (4,200) (4,200) (2,400) (3,000) (3,000) (3,600) (2,500) (2,500) (2,500) (2,500)
Net Cash from Investing Activities (1,800) (3,600) (5,400) (7,200) (1,600) (3,200) (4,800) (6,400) (2,800) (2,800) (4,200) (4,200) (2,400) (3,000) (3,000) (3,600) (2,500) (2,500) (2,500) (2,500)
- - - - - - - - - - - - - - - - - - - -
Cash Flows from Financing Activities - - - - - - - - - - - - - - - - - - - -
Long Term Debt Issued/ (Repaid) - - - - - - - - - - - - - - - - - - - -
Equity Capital Issued/ (Repaid) - - - - - - - - - - - - - - - - - - - -
Net Cash from Financing Activities - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - -
Net Increase/(Decrease) in Cash (79,246) (158,492) (237,738) (316,984) (29,469) (58,938) (88,407) (117,876) (42,273) (42,273) (63,410) (63,410) 15,244 19,056 19,056 22,867 138,059 138,059 138,059 138,059
Cash at Beginning of Period 7,000 14,000 21,000 28,000 10,900 21,800 32,700 43,600 26,800 26,800 40,200 40,200 52,000 65,000 65,000 78,000 93,750 93,750 93,750 93,750
Cash at End of Period 7,000 14,000 21,000 28,000 10,900 21,800 32,700 43,600 26,800 26,800 40,200 40,200 67,244 84,056 84,056 100,867 231,809 231,809 231,809 231,809

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Memory Lane Service | Business Plan 0

Crafting Nostalgic Journeys

April 06, 2024

Our growth strategy is underpinned by a harmonized approach encompassing product

With a dedicated team comprising 15 seasoned professionals, we are establishing a central

We cordially invite you to embark on this transformative journey alongside us by investing

Organized as a social enterprise, we aim to balance financial sustainability with social

Currently, the "Personalized Memory Lane Service" comprises a dedicated team of

Business Model Canvas

Personalized Memory Collection: Our process begins with personalized memory

Tangible Artifact Creation: In addition to digital storytelling, we offer tangible artifact

Personalized Experience: Seniors receive a personalized and tailored experience that

Emotional Connection: By capturing and preserving cherished memories, our service

Non-Profit Organizations: Non-profit organizations focusing on seniors' well-being and

Our Key Competitors:

LegacyBox | Location: Chattanooga, TN

Tribute | Location: New York, NY

OneDay | Location: Dallas, TX

WCD | Location: Calgary, Alberta

Our Competitive Advantage:

Geographic Market Scope

Market Size in Units

Market Size in Revenue

Traditionalists: Consumers who prefer traditional methods of memory preservation, such as

Interactive Digital Platforms: In addition to physical artifacts, an interactive online platform

Collaborative Memory Projects: Facilitating collaborative memory projects allows multiple

Customizable Memory Themes: Offering a variety of themes or templates for memory

Memory Preservation Workshops: Conducting memory preservation workshops led by

Testimonials and Word of Mouth: Encouraging satisfied customers to provide testimonials

Senior Communities and Retirement Residences: Conducting memory collection sessions

Cultural and Community Centers: Establishing a presence in these centers through

Scarborough Toronto Headquarters: Leveraging the strategic location of the headquarters

Training and Development: Investing in ongoing staff training to enhance memory

Empowerment and Feedback: Empowering employees and soliciting feedback to improve

Staffing and Organizational Structure

Facilities and Equipment

Supplier and Vendor Relationships

Quality Control and Assurance

Customer Support and Satisfaction

Continuous Improvement and Innovation

Startup Expense Startup Investment

Total Requirement Startup Funding

Orders Total Revenue Gross Margin EBIT

Year 01 2,000 $ 660,000 $90,000 $ (742,000)

Year 02 3,000 $ 978,500 $ 97,850 $ (304,150)

Year 03 5,000 $ 1,699,125 $ 231,375 $ (182,625)

Year 04 6,000 $ 2,283,958 $ 522,658 $ 95,657

Year 05 9,000 $ 3,764,926 $ 1,043,718 $ 603,718

Projected Balance Sheet

Memory Lane Service

Projected Income Statement

Memory Lane Service

Revenue 660,000 978,500 1,699,125 2,283,958 3,764,926

Cost of goods sold (COGS) 570,000 880,650 1,467,750 1,761,300 2,721,209

Gross Margin 90,000 97,850 231,375 522,658 1,043,718

General Administrative 611,000 159,000 172,000 179,000 186,000

Depreciation & Amortization 11,000 18,000 15,000 17,000 21,000

Operating Expenses 110,000 125,000 127,000 131,000 133,000