| 2020 | 2021 | 2022 | Total | |
| Project Supervisor(Mobile Application) | $56,498.00 | $58,192.94 | $59,938.73 | $174,629.67 |
| Electronic Locker System | $17,124.78 | $17,638.52 | $18,167.68 | $52,930.98 |
| Decor Allowance | $500.00 | $500.00 | $500.00 | $1,500.00 |
| Customer Support Representative | $16,320.00 | $16,809.60 | $17,313.89 | $50,443.49 |
| Rental space in Union | $27,600.00 | $28,428.00 | $29,280.84 | $85,308.84 |
| Ad in Ohio State newspaper | $24,960.00 | $25,708.80 | $26,480.06 | $77,148.86 |
| Flyers | $250.00 | $257.50 | $265.23 | $772.73 |
| Influencers advertising on Instagram | $70,460.00 | $72,573.80 | $74,751.01 | $217,784.81 |
| Damages allowance | $10,000.00 | $10,000.00 | $10,000.00 | $30,000.00 |
| Direct Costs Total | $223,712.78 | $230,109.16 | $236,697.44 | $690,519.38 |
| Indirect Costs Total | $138,103.88 | |||
| Total | $828,623.26 |
Budget Narrative:
- A project supervisor is needed to lead the programming team to develop the app and make it secure and safe for purchases to be made on. Salary found for an Ohio State Project Manager at Ohio State from Indeed.com. https://www.indeed.com/salaries/Project-Manager-Salaries-at-The-Ohio-State-University
- Lockers are needed to store the clothes after they are sold so that the customer can come and pick them up. The lockers use an electronic system so that each seller and customer has access to the locker and can exchange the clothes. Cost found for an electronic locker system with 30 lockers on americanlocker.com. https://americanlocker.com/product/electronic-locker-system-freedom/
- We would need a decor allowance to embellish the facility and get people to want to take pictures in front of it. For example, a neon sign costs $210 so $500 would cover that and allow for other endeavors. https://www.weonlight.com/shop
- A customer support representative is needed to be available to answer questions at the lockers from 9AM-5PM every day. Cost found by using the minimum wage in Ohio($8.50) for 8 hours per business day (48 weeks / year) . https://www.minimum-wage.org/ohio
- Space in the Union is required to house the lockers and provide a space for sellers to drop off their clothes and customers to pick them up. Cost found by researching the cost of kiosk in a mall. https://www.entrepreneur.com/article/63012
- In order to fully advertise our app to the public, publishing an ad in the Ohio State newspaper will ensure this. Cost for a 4 inches by 10 inches ad in a newspaper goes for $480 each and the ad will be published once a week. https://fitsmallbusiness.com/newspaper-advertising-costs/
- Another method of advertisement is going to come from posting flyers around campus and Columbus. Cost for standard flyers that are 8.5” by 11” were found on a flyer printing website for 1000 flyers. https://www.vistaprint.com/marketing-materials/flyers?GP=10%2f27%2f2019+16%3a39%3a18&GPS=5511506160&GNF=1
- One last method of advertisement is going to come from Instagram influencers posting about our app to reach more of the students on campus. Cost was found for one Instagram post, one post per week, and using five influencers. https://www.digitalmarketing.org/blog/how-much-does-influencer-marketing-cost
- In order to have some allowance in case damages occur, we are adding in an amount into the budget to account for this.
- Indirect costs such as an office for the app development team and any costs related to that are covered by taking 20% of the direct costs.