OA Feasibility Final Report

ESBM 3700 Entrepreneurial EnvironmentsOpportunity Analysis Feasibility Project

Group 3 Section 004 – Shea Sullivan, Jordyn Naphtal, Bryn Valaika, Jason Ballein, Elom Amouzo

IntroductionNo Mo’ Ice is our innovation for the automotive accessory market, which accounts for 1.8% of the Colorado economy with annual sales of 705.6 million dollarsi. It is a folding electronic windshield heater that functions as a convenience and luxury commodity. This product is battery powered and its primary function is to prevent both the accumulation of snow and the development of ice on the windshield. Its accessible charging process, useful storage adaptability and safety measures make it a convenient product to store and apply in any automobile. The primary target market for the product is younger customers; specifically young professionals families. We will be directing our efforts towards automobile owners in these specific segments. Luxury, specialty, and environmentally friendly car owners will be targeted because of the survey data that reports that these automobile owners are more detail oriented in their automobile maintenance. This data supports our conclusion that this a customer need that is not currently addressed by the market. The opportunity rests in addressing this need and providing partnership opportunities with manufacturers that can integrate our technology with the fundamental design and development of automobiles.

Business ModelCustomer Segments: The Electric Folding Windshield Heater targets a segmented market of consumers in regions of the United States with harsh winters (Rocky Mountain Region, Midwest, etc.). Young professionals living in large cities and other well established, middle to upper class, consumers without coverage or garages for their automobiles make up our target market. Targeting individuals on the go with incomes ranging from medium to high will be the consumers to buy our product.Value Proposition: The newness, design, and convenience of our product creates a value to our consumers that are both emotional and financial. To our target market, young professionals, time is money and our product is tapping into a new industry and fixing a problem they have, saving them precious time in their busy lives. The convenience and design of our product drastically alters the daily lives of our consumers by making their lives more efficient. Eliminating the possibility of ruining expensive business attire when clearing their cars and creating more time them to focus on their goals and dreams are where our value is created.Channels: Partnering with car dealerships (Audi, Toyota, Ford) and automotive accessory sellers is how we will reach our consumers. By indirectly selling our product to our consumers, through intermediaries, we will be able to reach our target market better than a direct selling method. Selling our products in these retailers and dealerships will allow the employees of these locations to educate and convey our products various benefits and values to our consumer. We will however have a direct sales force that will reach these intermediaries, sell our product to them, and then educate their employees of our products value proposition.Customer Relationships: Communicating to our consumers of how our product will drastically alter their daily routines is of our main concern. Our customer acquisition will, however, be done not through us, but rather our intermediaries. We will educate the employees of these intermediaries of our products various benefits, in which they will they convey to the consumer. Selling our product indirectly through personal assistance will allow us to convey our products value proposition through human interaction, allowing the consumer to ask questions and discover the life altering value that our product will offer them.Revenue Streams: The windshield heater will be sold at a list price (fixed price) to our retailers for $55. This asset sale from our direct personal selling to each intermediary will generate more than double the price our manufacturers will charge us to make and ship our products to the U.S. Our products durability and reusability will satisfy the needs of our consumers resulting in transaction revenues, or a one-time purchase. Key Resources: Our product is tapping into a new industry not yet explored, so protecting our product with patents is a very important intellectual resource for our success. Our human sales force is a key resource because we heavily rely on them to find new potential intermediaries to sell too, sell our product to those intermediaries, and then educate the employees of those intermediaries with the necessary material so they can convey our message to

our consumers. In order to get our company up and running we are relying on investments from family members and friends. Without this financial resource our company will not be able to break the ice in starting our company.Key Activities: Product development is the most important activity for our company’s success. Our company relies on the durability and efficiency of our product to satisfy our consumer. If either of these components are compromised then our company will not be successful. Extensive research development will be taken to make sure that our product offers our consumers everything we promise.Key Partnerships: Outsourcing our product abroad is the best way for cost reduction in our product manufacturing because of the cheap labor overseas. Finding a manufacturer who can produce our product at a low cost, ship it to us at a low cost, and that can guarantee the quality is a key partnership and strategic alliance we will create. Also, creating partnerships with car dealerships and automotive accessory stores is a way in which we can more easily reach our customer and reduce the risk of not reaching our target market. By selling our products in car dealerships (Audi, Toyota, Ford) and automotive accessory stores (Napa) these intermediaries are validating the quality and effectiveness of our product, therefore reducing the risk of consumers questioning the validity of our product.Cost Structure: Allocating our manufacturing overseas help us keep our cost structure quite low. Product development, the cost of materials, the manufacturing of the product, and shipping the product back to the US is the most expensive part of the process. Once the product is here in the US we will have 4 sales personnel (2 in Colorado, 2 in Utah) which will be paid on salary (up to a certain number of sales) and receive benefits of commission for each sale made. Only one full time employee, the CEO, and 4 part time sales personnel keep our general administrative costs bearable for the first few years. Our company is cost-driven for most of the aspects of the company. However, jeopardizing the quality of our product is something we simply cannot do. The development and manufacturing of our product is a value-driven aspect of our business.

Market & IndustryMarket Analysis

Our target market is expansive. Ultimately we have designed this product for anyone living within a part of the United States that experiences snow storms throughout the winter. We will introduce the product to the state of Colorado and Utah and our market segments within each state. Colorado and Utah have dense populations in cities with a high average income. We have broken up the market and designed our marketing campaigns to target two main market segments.

First we intend to target business men and women with hectic lives and tight schedules who need to be able to get into their car without cleaning off the snow and ice from their windshield that formed from the night before. These individuals wear nice clothing that they do not want to get dirty and wet from the snow. Our product will allow for them to simply walk to their cars and be on their way, without touching the exterior of the windshield. Our second segment that we aim to market to would be families. Moms have a hard enough time getting the kids up, making them breakfast, packing their lunch, etc. No Mo Ice would alleviate the annoyance of having to get up even earlier to scrape off the windshield.

According to Hoovers’ information on operations and distribution, company financials, and funding of the auto part accessory industry, we were able to calculate the average number of accessories sold each year and the average income of these retailers. Our segments within Colorado are small; however, we believe the market segment on a national scale is large enough to bring in around $400,000 in sales a year according to these industry standards. The accessories sold range from repair shops, dealerships, and auto-part retail stores. We anticipate growing from Colorado and Utah into the Midwest and eventually all over the United States. Our product is primarily valuable in locations where snowfall affects people’s daily lives. Trends show that people are becoming busier and more willing to pay for convenience items that eliminate timely and difficult activities, such as cleaning their windshields after a snowstorm. With these trends and input from potential consumers, we are confident that our target market will be willing to spend the money to purchase our

product for the convenience of time over the course of the winter. We believe that our price allows not only businessmen and women to purchase it but also those looking to invest in a product with good quality and convenience.

Industry AnalysisWhen promoting and exposing the electric folding windshield heater, it is crucial to appeal to the

automobile industry as a whole. We want to sell our product in dealerships as well as automotive parts stores. Our product is considered a luxury good, so we intend to appeal to that segment of the market. If car dealerships offer our heated windshield cover as an accessory product, it will assist in gaining recognition and exposure as well as help the consumer better understand our product and its features.

As for competition, we are directly competing with other automobile accessory lines. We are indirectly competing with car dealerships in that many brand name cars are now designing and producing cars that offer heated windshields and defrost capabilities; however, our product offers something different. The heater is a substantially market-changing device that is very complementary to pre-existing vehicles – making the experience of owning a car more enjoyable and less daunting for the consumer. Although we are indirectly competing with dealership vehicles that are now providing this feature, there are many people in the target market who do not have a new or recently manufactured car with the latest technology. The cost of buying a $110 heating device paralleled to the cost of buying a brand new car with these features is not even comparable.

Once No Mo’ Ice capitalizes on this untapped accessory market, there is the potential that it may incite competitors to launch a similar product at a lower price. Once our customers recognize the durability and value of our product, the positive exposure will spread to not only other consumers but to other auto accessory manufacturers. By maintaining high barriers to entry and the high expectations of our consumers, competitors will not be able to steal our positioning. They may be able to copy elements of our design, however we intend to position this product as entire “experience” of ease and efficiency that competitors will not be able to replicate. People view their vehicles as a huge financial investment. By providing them with a superior product that exceeds their expectations, the heater will quickly become respected and lucrative.

Opportunity & NeedMany people, in snowy regions such as the Wasatch Mountain Range, Rocky Mountains and the Midwest,

endure harsh winters. After a snowstorm, it is a very time consuming process to defrost the windshield while simultaneously scraping off all of the snow accumulation. Although there is already a product for prevention of windshield snow build-up, it is a very inexpensive and cheaply made “blanket” of sorts that will only keep the windshield from freezing, but will not prevent snow build up. According to surveys and interviews with both industry experts and potential customers, there is a compelling need for the electric folding windshield heater because many people have jobs, or are typically in a hurry when they go out to their cars in the morning. After a large storm, it can take up to 30 minutes to clear the accumulated snow from one’s windshield. No Mo’ Ice creates delight and addresses customer pain because it eliminates a daunting task from their day-to-day lives during the winter months. It will also prevent consumer’s windshields from cracking from the harsh/drastic changes in temperature that are bad for the glass.

Our research of the industry’s financials, trends and opportunities is indicative that this automotive accessory market is very lucrative and has a lot of opportunity for success. Moreover, our interviews and surveys suggest that this is a product that many people are in the market for and would readily buy if it were available. According to potential consumers, they will buy because it will be a huge source of relief in terms of stress and time. Also, for the price of only $110, it will save them hours of hard work and annoyance. We interviewed both car connoisseurs and people who view their cars as purely a means of transportation, and in both cases, it was clear that cars are a huge investment for people. Therefore, providing a product that reduces the risk of any potential

damage to their vehicle is also a large driving factor in why this electric heater will thrive in the market and address customer needs.

Venture AnalysisProduct/Service

The Electric Folding Windshield Heater is a battery powered windshield heater that is used to prevent ice and snow build up during the winter months. Using an external battery source, the Windshield Heater will keep our consumer’s windshield above freezing temperatures making their lives more convenient. This product will be sold in auto parts stores as well as car dealerships that we partner with in regions with harsh winters. Our product breadth will be only this one product that we will provide to our partnering stores and dealerships. However, we will produce various different sizes (small, medium, and large) to fit various different types of cars windshields. This product depth will allow us to supply every consumer, regardless of the brand, size or type of car, our one of a kind product.

The Electric Folding Windshield Heater will provide value to its consumers in many different ways. Our windshield heater is a product among a market that has not yet been tapped into. Through advertising in the stores of our intermediaries of our products value proposition and educating their employees to convey our products life-altering benefits we will inform our consumers of a problem they might not know exists. Our product’s packaging will also assist in educating our consumers of its benefits and how it will save them time, and essentially change their lives. By showing, through our in store advertising and our packaging, how our product will drastically alter their daily routines, which in turn creates value to the consumer.

Our easy to use windshield heater will benefit young professionals, as well as people on the go by eliminating the constant and strenuous task of cleaning their windshields. The convenience of this product, as well as the durability and quality, will benefit our mid-to-high class consumers and make their lives more efficient. Also, the folding feature of our product will make it easy to store in between the consumers seats, and therefore creating no extra hassle of storage.

After speaking to eight potential customers (at Audi, Toyota, Napa Auto Parts, O’Reilly Auto Parts, and Autozone), interviewing two store managers (Jerry Lopez at Napa Auto Parts and Doug Jondal at Car Quest Auto Parts) and parts and sales managers at many dealerships (Garry Tuttle at GMC, Jerry Bases at Volkswagen, Ryan Bonino at Audi, and Alan Pearlman at Toyota) we’ve concluded that our customers will buy our product because of its benefits and value , but also because it is fixing a need that most consumers have. Mr. Lopez, manager at Napa Auto Parts, said that by targeting young professionals in large cities (i.e. Denver and Chicago), our product would be very successful. Very limited garage parking is available in large cities and is very expensive, leaving most consumers with street parking for their vehicles. Our product saves consumers priceless time and saves them from dirtying or damaging their nice attire when cleaning off their dirty, snowy windshields. With this evidence and these facts our product will be a huge success among the young professionals living in large cities forced to leave their vehicles uncovered in the streets.

Target MarketWe plan on addressing the retail, and wholesale markets. The retail market offers the opportunity to

generate sales based on advertising and walk-in traffic, which provides customer feedback we can use to adjust our strategy. The wholesale market refers to automobile dealerships within the market and it would allow us to partner with established brands to develop our own brand image. This presents the most opportunity for the offering of our products without affecting our value proposition, since it rests on luxury marketing. We have selected the retail market as the entry point because it offers the most opportunity to adjust our business plan based on our Sniff tests. We can enter the business-to-business market later after we have established a dominant position in the markets we have identified as primary.

Standard and Poor’s Automotive Industry survey identified trends of customers becoming more loyal and younger buyers returning to the market. In the automotive luxury segment, the top three criteria for customer loyalty include performance, quality of workmanship, and exterior styling. These are all categories that apply to the product that we are offering. Young professionals are a significant segment of the younger buyers mentioned in the survey results. This data provides support for our decision to target young professionals and mothersii. We are targeting young professionals for their image conscious consumer behavior and we are targeting mothers because they have buying power in relation to their children, whom we are targeting with our product as first time automotive ownersiii. Our marketing will be towards middle to upper middle class customers within our customer segments in order to maintain the value proposition of our product.The precise customers are customers willing to spend discretionary income on a product that saves them the hassle of disrupting their schedules to defrost their windows, which is why we targeted young professionals. The convenience of our product also appeals to customers looking to present a gift to first time or other car owners in order to maintain their security on the road, which is why we targeted mother as the purchasers for their families. We provide below demographic information about the size of this market in Colorado, and the purchasing habits of these groups. There is a spatial analysis that also looks at employment opportunities and dominant industries and their relationship to the class positioning of our customers. We specify areas of Colorado based on these factors that would be more specific markets for us to enter.

Northern Colorado, the area between Denver and Cheyenne bisected by Interstate 25, is a growing area for a diverse crowd of residents. This area hosts students, retired senior citizens, newlyweds, and young professionals. The population of Northern Colorado grew by more than 100,000 between 2000 and 2010, from 436,691 to 554,490, according to the U.S. Census Bureau. That number is expected to grow to more than 700,000 by 2020 and to top 1 million by 2035. The region is anchored by three larger cities: Fort Collins, Loveland and Greeley. The area is divided almost evenly between men and women, with a slightly higher number of women in both Larimer and Weld counties. Both counties show high numbers of residents between the ages of 18 and 64, 66 percent in Larimer and 62 percent in Weld. This demographic information matches the consumer profiles we would like to target. The median household income in Larimer County is slightly higher than that of Weld, with Larimer County residents bringing in $54,739 in 2010 and those in Weld County earning $52,334 in the same yeariv. This, in conjunction with the influx of young professionals and established families provides the ideal market for the testing of our approach to selling a luxury automotive accessory. A spatial industry analysis provides us with the information that workers in Larimer County find jobs in clean energy, health care, and at one of the area's largest employers: Colorado State University. Weld County is home to many oil and gas workers, as well as a flourishing agricultural community. This marks the area as one that is well-educated, with a strong infrastructure and a diverse economy that can sustain a middle class lifestylev.The primary market consists of females between the ages of 18-50 and males between the ages of 16-55. Average income of the target market is $27,500 with roughly 22% of income going toward automobile purchase and improvements. Eleven percent of additional income is used toward vehicle maintenance and insurance.

Aspen, Crested Butte, Leadville, Ouray, Steamboat Springs, Telluride, and Vail have the highest average annual snowfall on the western side of Colorado. In the Front Range and Easter part of Colorado, Boulder, Denver, Lakewood, and Fort Collins receive the highest average annual snowfall. This data is based on weather data collected from 1981 to 2010 for the NOAA National Climatic Data Centervi. Based on this data, the peak range for our product should be around 70 days.

Competitive AdvantageWe have done ample research on the patent process and intend to secure the technology and design of our

heater so that competitors cannot duplicate our product. The company plans to ensure that our manufacturers build this product to the highest caliber of quality and only use the most-high end products.

We already have mind and innovation behind the product, Jason, to provide the architectural aesthetics of the heater and product features. Following the implementation of the finalized design, we will need to secure premium manufacturers that can provide us with the high quality design we require. We have no tolerance for providing an inferior product. This, in turn, leads to higher productions costs and a slightly hire unit price. However, capitalizing on this untouched market while delivering only the maximum quality of product will give us a competitive advantage in that once customers have used our product, they will never want anything else.

We are looking to market our product as a time efficient way to handle the cold winter environments around the United States. We have designed our product to be effective, but still remain sleek to maintain the heater’s easy storage and use. With the battery pack and the timer settings, the foldable electric device makes the task of defrosting your windshield a mindless activity – something that falls into your routine and you no longer have to think about. Though our price is high, we believe that the quality and function of the appliance will make up for this. This product will not have deficiencies or break down easily; therefore repurchase will not be necessary. It is a reliable product that is justifiable in its price, being that it is a one-time purchase.

In order to sustain our competitive advantage we will continue to innovate upon our existing product and sustain our patents so that we can maintain high barriers to entry and prevent inferior brands from creating a less efficient and cheaper alternative that could potentially give our brand a bad connotation.

Financial ViabilityBased off of research from Standard and Poor’s Automotive Industry Survey and Hoovers’ Trends and

Opportunities surveys, we expect to sell about 7,300 heaters to the Wasatch and Rocky Mountain regions in our first year of business. Our source of revenue is primarily through consumer purchases and advertising. In year 3, we make a substantial jump in the amount of units we sell to customers. According to Sniff and Reality tests at automotive dealerships, sales and parts managers claimed that if they were to contract a partnership with No Mo’ Ice they would be willing to purchase about 5,000 heaters per year. In year three, it is anticipated that we add four dealerships to our distribution process, which will in turn majorly increase revenues.

After speaking with several manufacturers who are familiar with outsourcing production and conducting extensive research, we have concluded that our product will take about $17 to produce. This includes: $5 to produce the malleable foldable screen, $2 for the USB charging system, and $10 for the battery pack and coil. We will sell the heaters to dealerships and auto accessory stores for $55 a piece, and they will then mark up the price by double, offering the product for a wholesale price of $110. In speaking with potential customers and sales managers, it is clear that our price point should be just around $100. Furthermore, due to outsourcing, we will have to pay about $3,000 annually in shopping costs to import the heaters back into the states.

We are initially investing 15% of our revenues in sales and marketing, however this number will fluctuate as we gain recognition and contract partnerships. According to Hoover’s automotive financial surveys, the average investment in research and development in year one is 21% of net sales, however this number also fluctuates. We decrease investment once we have a foothold in the market, but then later increase it when dealerships begin to demand certain specifications. As the company’s profitability increases, the sales team begins to make a higher hourly pay and their percentage of commission increases after reaching certain quotas. Sales people will be promoted from making $11 an hour to $20 an hour, and their commission will increase from 3% to 15%.

Our operating income statement is positive and generating revenue by the end of the first year. Our break even point in year 1 is 5,881 units. Each year our % gross profit increases consistently, and with the addition of auto dealers in years 3, 4, and 5 as well as expansion to new regions, our company will flourish. In conclusion, within the first year of sales and operation we will be a financially viable and profitable endeavor, and within five years of operation we will be generating substantial amounts of income.

Risks

The heated windshield cover is an incredibly innovative idea. However, it does come with certain risks that can be potentially fatal to our business. After talking to a handful of car salesmen, they were worried about the ‘heating’ aspect of our product. They were afraid consumers wouldn’t want to turn something on to heat up their windshield with out being there to supervise. Because the product attaches directly to the windshield, and isn’t built inside, consumers might fear that their dashboards will melt or even catch on fire. If this were to happen, word of mouth would destroy our business and discard our product. Some of the other concerns were price, effectiveness, aesthetic appeal, and packaging. A salesman at the Toyota dealership was afraid we were asking too much for the product. He suggested we make 3 different models, all heating up to different temperatures, and sold for various prices. That way, our target market would grow due to the ability and willingness of consumers to spend. As for effectiveness, we would have to make sure that the product works perfectly before selling it to consumers. Another important part of our product is branding and packaging. A salesman at Audi suggested creating a strategic partnership with different manufactures. We would have to alter the size of our product (to fit the different car models) and then place the automobile brand name on our product. That way, high end car companies that primarily like to sell products with their logo on it would be interested in the heated windshield cover. This would give up the opportunity to expand our target market.

ConclusionThrough conducting extensive research, analyzing the industry, and interviewing experts and potential

customers, we have determined that our concept is an attractive opportunity. Seeing as this product, or anything similar to it, has not yet been released on the market we were very careful in conducting research to ensure it was relevant, and we asked for harsh and constructive criticism from industry experts to guarantee viability. Now that the feasibility of the product has been determined, we will move forward with all of the research, development, and marketing in an attempt to gain a foothold in an untapped market. In the categories where we ran into non-feasibilities during our opportunity analysis, we will make adjustments.

We will conduct tests to discover which materials and parts are needed to create the durable product. We will then build a prototype. This will not only entail the creation of the product itself and research into how to build the electric coils that will be used to craft a foldable windshield cover, but it will also include research into what manufacturers could produce something like this. We will need to have multiple models that will fit compact, midsize, and large vehicles. Furthermore, we have verbal confirmation from dealerships that they are interested in investing. This will require more research and development to create windshield heaters that are custom fit to their makes and models and have their emblem embroidered.

Further research will be more relative to the market. We will create more extensive surveys and schedule more in-depth interviews with experts and potential customers. We will ask customers what they would like to see in the product, what preferences and model options they would hope to purchase, and really get a set range for a price that the consumer believes is reasonable. We have adjusted our pricing to potential consumer’s suggested amount, and now will have to do further extensive research once the prototype is built to have an understanding of how much it costs to produce the product, and confirm our new wholesale price is reasonable. This could mean that we invest in producing variations of the product that complement each other. We may invest in research to see if creating a heater that is possibly not as sleek and durable that can cater to a lower price range is a feasible opportunity to sister our current product offering.

Besides our manufacturing site, we will not need any other locations. Our sales will be through intermediaries such as 4 Wheel Parts, O’Reilly Auto Parts, Auto Zone, et cetera, who will take a portion of the profit. We will start with two salesmen, working 17-hour weeks, who will travel from store to store and dealership to dealership in Colorado and Utah selling the products. They will work on an hourly income with commission for each sale they make. These people will truly be the backbone of the company because they ensure sales are made and that we are profitable. We plan to initially have three people running the company in the first year before

expansion. We propose to have a CEO/manager, which will most likely be Jason, and the two sales associates. By year 5 we intend to have 5 sales representatives in 4 regions of the United States.

In terms of raising the funds for the endeavor, every member of our group intends to pool money from friends and family. Although ambitious, we believe that each member could raise about $335,000 to initially invest into the company, and we are striving to reach that number.

In conclusion, we have created a viable product, and moving forward we will focus our efforts on getting a prototype created and gaining exposure while making the necessary adjustments.

Appendix

i 2002 Economic Census (http://go.galegroup.com/ps/retrieve.do?sgHitCountType=None&sort=RELEVANCE&inPS=true&prodId=GVRL&userGroupName=coloboulder&tabID=T003&searchId=R1&resultListType=RESULT_LIST&contentSegment=&searchType=BasicSearchForm&currentPosition=3&contentSet=GALE%7CCX2584800412&&docId=GALE|CX2584800412&docType=GALE)ii 2002 Economic Census (http://go.galegroup.com/ps/retrieve.do?sgHitCountType=None&sort=RELEVANCE&inPS=true&prodId=GVRL&userGroupName=coloboulder&tabID=T003&searchId=R1&resultListType=RESULT_LIST&contentSegment=&searchType=BasicSearchForm&currentPosition=3&contentSet=GALE%7CCX2584800412&&docId=GALE|CX2584800412&docType=GALE) Standard and Poor’s Automotive Industry Survey 2013 (https://www.netadvantage.standardandpoors.com/NASApp/NetAdvantage/showIndustrySurvey.do?task=showIndustrySurvey&type=pdf&code=aup)iii Motor Vehicle Supplies and New Parts Business Insights (http://0-bi.galegroup.com.libraries.colorado.edu/global/article/GALE%7CPC2501601796/81993bdb2bff5aa4ca78929ff7ec0415?u=coloboulder)

iv

U.S. Census Bureau (http://quickfacts.census.gov/qfd/states/08/08123.html,http://quickfacts.census.gov/qfd/states/08/08069.html)

Hoovers – Industries – Automotive Parts & Accessories StoresOverview (Forecast, Indicators, Quarterly Updates, etc.)http://subscriber.hoovers.com/H/industry360/overview.html?industryId=1521

Financialshttp://subscriber.hoovers.com/H/industry360/financials.html?industryId=1521

Trends & Opportunitieshttp://subscriber.hoovers.com/H/industry360/trendsAndOpportunities.html?industryId=1521

People QuickFactsWeld County Colorado

Population, 2012 estimate 263,691 5,187,582

Population, 2010 (April 1) estimates base 252,825 5,029,196

Population, percent change, April 1, 2010 to July 1, 2012 4.3% 3.1%

Population, 2010 252,825 5,029,196

Persons under 5 years, percent, 2012 7.5% 6.5%

Persons under 18 years, percent, 2012 27.2% 23.7%

Persons 65 years and over, percent, 2012 10.5% 11.8%

Female persons, percent, 2012 49.8% 49.8%

White alone, percent, 2012 (a) 93.4% 88.1%

Black or African American alone, percent, 2012 (a) 1.3% 4.3%

American Indian and Alaska Native alone, percent, 2012 (a) 1.7% 1.6%

Asian alone, percent, 2012 (a) 1.4% 3.0%

Native Hawaiian and Other Pacific Islander alone, percent, 2012 (a)

0.1% 0.2%

Two or More Races, percent, 2012 2.1% 2.8%

Hispanic or Latino, percent, 2012 (b) 28.4% 21.0%

White alone, not Hispanic or Latino, percent, 2012 67.4% 69.6%

Living in same house 1 year & over, percent, 2007-2011 81.6% 80.8%

Foreign born persons, percent, 2007-2011 9.0% 9.7%

Language other than English spoken at home, percent age 5+, 2007-2011

18.2% 16.7%

High school graduate or higher, percent of persons age 25+, 2007-2011

85.2% 89.7%

Bachelor's degree or higher, percent of persons age 25+, 2007-2011

25.6% 36.3%

Veterans, 2007-2011 17,167 405,303

Mean travel time to work (minutes), workers age 16+, 2007-2011

25.7 24.3

Housing units, 2011 97,031 2,224,603

Homeownership rate, 2007-2011 71.1% 66.8%

Housing units in multi-unit structures, percent, 2007-2011 16.2% 25.7%

Median value of owner-occupied housing units, 2007-2011 $193,300 $236,700

Households, 2007-2011 88,242 1,941,193

Persons per household, 2007-2011 2.75 2.50

Per capita money income in the past 12 months (2011 dollars), 2007-2011

$25,233 $30,816

Median household income, 2007-2011 $55,825 $57,685

Persons below poverty level, percent, 2007-2011 13.8% 12.5%

Business QuickFactsWeld County Colorado

Private nonfarm establishments, 2011 5,125 150,8891

Private nonfarm employment, 2011 66,594 1,972,2711

Private nonfarm employment, percent change, 2010-2011 3.1% 0.9%1

Nonemployer establishments, 2011 18,518 434,910

Total number of firms, 2007 23,024 547,770

Black-owned firms, percent, 2007 0.6% 1.7%

American Indian- and Alaska Native-owned firms, percent, 2007

1.4% 0.8%

Asian-owned firms, percent, 2007 1.5% 2.6%

Native Hawaiian and Other Pacific Islander-owned firms, percent, 2007

F 0.1%

Hispanic-owned firms, percent, 2007 S 6.2%

Women-owned firms, percent, 2007 25.4% 29.2%

Manufacturers shipments, 2007 ($1000) 4,193,672 46,331,953

Merchant wholesaler sales, 2007 ($1000) D 53,598,986

Retail sales, 2007 ($1000) 2,246,115 65,896,788

Retail sales per capita, 2007 $9,272 $13,609

Accommodation and food services sales, 2007 ($1000) 217,231 11,440,395

Building permits, 2012 1,241 23,301

Geography QuickFactsWeld County Colorado

Land area in square miles, 2010 3,987.24 103,641.89

Persons per square mile, 2010 63.4 48.5

FIPS Code 123 08

Metropolitan or Micropolitan Statistical Area Greeley, CO Metro Area

People QuickFactsLarimer County Colorado

Population, 2012 estimate 310,487 5,187,582

Population, 2010 (April 1) estimates base 299,630 5,029,196

Population, percent change, April 1, 2010 to July 1, 2012 3.6% 3.1%

Population, 2010 299,630 5,029,196

Persons under 5 years, percent, 2012 5.5% 6.5%

Persons under 18 years, percent, 2012 20.6% 23.7%

Persons 65 years and over, percent, 2012 12.9% 11.8%

Female persons, percent, 2012 50.3% 49.8%

White alone, percent, 2012 (a) 93.5% 88.1%

Black or African American alone, percent, 2012 (a) 1.0% 4.3%

American Indian and Alaska Native alone, percent, 2012 (a) 1.0% 1.6%

Asian alone, percent, 2012 (a) 2.1% 3.0%

Native Hawaiian and Other Pacific Islander alone, percent, 2012 (a)

0.1% 0.2%

Two or More Races, percent, 2012 2.3% 2.8%

Hispanic or Latino, percent, 2012 (b) 10.8% 21.0%

White alone, not Hispanic or Latino, percent, 2012 84.1% 69.6%

Living in same house 1 year & over, percent, 2007-2011 78.5% 80.8%

Foreign born persons, percent, 2007-2011 5.4% 9.7%

Language other than English spoken at home, percent age 5+, 2007-2011

8.9% 16.7%

High school graduate or higher, percent of persons age 25+, 2007-2011

93.9% 89.7%

Bachelor's degree or higher, percent of persons age 25+, 2007-2011

43.1% 36.3%

Veterans, 2007-2011 22,395 405,303

Mean travel time to work (minutes), workers age 16+, 2007-2011

22.2 24.3

Housing units, 2011 133,247 2,224,603

Homeownership rate, 2007-2011 67.0% 66.8%

Housing units in multi-unit structures, percent, 2007-2011 21.3% 25.7%

Median value of owner-occupied housing units, 2007-2011 $244,600 $236,700

Households, 2007-2011 118,791 1,941,193

Persons per household, 2007-2011 2.42 2.50

Per capita money income in the past 12 months (2011 dollars), 2007-2011

$30,276 $30,816

Median household income, 2007-2011 $57,215 $57,685

Persons below poverty level, percent, 2007-2011 13.4% 12.5%

Business QuickFactsLarimer County Colorado

Private nonfarm establishments, 2011 9,356 150,8891

Private nonfarm employment, 2011 104,622 1,972,2711

Private nonfarm employment, percent change, 2010-2011 2.6% 0.9%1

Nonemployer establishments, 2011 27,846 434,910

Total number of firms, 2007 34,660 547,770

Black-owned firms, percent, 2007 0.4% 1.7%

American Indian- and Alaska Native-owned firms, percent, 2007

0.5% 0.8%

Asian-owned firms, percent, 2007 1.8% 2.6%

Native Hawaiian and Other Pacific Islander-owned firms, percent, 2007

S 0.1%

Hispanic-owned firms, percent, 2007 3.6% 6.2%

Women-owned firms, percent, 2007 29.7% 29.2%

Manufacturers shipments, 2007 ($1000) 3,226,757 46,331,953

Merchant wholesaler sales, 2007 ($1000) 1,265,188 53,598,986

Retail sales, 2007 ($1000) 3,922,871 65,896,788

Retail sales per capita, 2007 $13,672 $13,609

Accommodation and food services sales, 2007 ($1000) 604,358 11,440,395

Building permits, 2012 1,868 23,301

Geography QuickFactsLarimer County Colorado

Land area in square miles, 2010 2,596.00 103,641.89

Persons per square mile, 2010 115.4 48.5

FIPS Code 069 08

Metropolitan or Micropolitan Statistical Area Fort Collins-Loveland, CO Metro Area

v Northern Colorado Business Report (http://www.ncbr.com/article/20120727/PUBLICATIONS09/120729892&template=mobileart)vi NOAA National Climatic Data Center (http://www.currentresults.com/Weather/Colorado/annual-snowfall.php)

Average annual snowfall totals

Days Place Inches Centimetres

22.9 Alamosa   27.6   70.1

69.7 Aspen 178.8 454.2

16.1 Colorado National Monument   25.9   65.8

19.1 Cortez   31.9   81.0

66.2 Crested Butte 216.6 550.2

18.6 Dinosaur National Monument   34.6   87.9

30.1 Durango   64.4 163.6

22.1 Glenwood Springs   46.1 117.1

19.1 Grand Junction   19.1   48.5

30.5 Gunnison   45.7 116.1

68.3 Leadville 156.3 397.0

31.9 Mesa Verde National Park   73.3 186.2

52.0 Ouray 134.4 341.4

67.4 Steamboat Springs 179.6 456.2

58.6 Telluride 175.5 445.8

66.1 Vail 190.0 482.6

Front Range & Eastern ColoradoYearly snow averages

Days Place Inches Centimetres

35.0 Boulder   88.3 224.3

12.6 Burlington   37.8   96.0

19.5 Canon City   40.8 103.6

29.2 Colorado Springs   37.7   95.8

33.3 Denver   53.8 136.7

39.9 Estes Park   75.1 190.8

26.4 Fort Collins   47.2 119.9

29.4 Great Sand Dunes Monument   47.0 119.4

22.6 Greeley   40.8 103.6

19.1 Lakewood   55.8 141.7

21.7 Pueblo   31.8   80.8

11.5 Sterling   24.9   63.2

27.4 Trinidad   39.1   99.3

Yearly Shipping Cost Researchhttp://worldfreightrates.com/en/freight

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