Introduction
Project Summary
Design Process
Product Design
Market Research
Financial Data
Future Plans
References
Background Research
Site Map

• Market Info
• The Survey
• Results of Research

The ToggleLace is a simple solution to the problem of untied shoelaces in children. The ToggleLace is essentially a loop of shock cord threaded through a plastic toggle. The shock cord and toggle comes in a variety of bright colors to appeal to children aged 5-14. For use, the ToggleLace is laced onto the top intersection of shoelaces. When the child wishes to wear their shoes, he/she ties everything as usual, and when the knot has been made, the ends and loops are all placed inside the loop of the ToggleLace and the toggle is tightened by squeezing it and then pushing downward so that it rests on the shoelace loops and ends.

Market Research/Finance

Future Plans

Market Info

Our initial plans of business call for a headquarters and main office in the Greater Toronto Area. The area has a population of about 4 million and a child (children age 0-14) population of 611,500. If we assume that we can tap into 1% of that market the first year since this product has relatively low competition, we assume that we can sell 6115 units in Toronto. With nation-wide expansion programs initiating in year two, we hope to achieve a doubling of sales each subsequent year. This is due to the product being appealing to a larger portion of Canada than just children. From surveys conducted, many people (older than 14) were willing to purchase the product for themselves for either the convenience or performance (sports such as running) benefits that our product provides.

Our Competitors

Name of Company and their Device	How the device works	Disadvantages of the device	Cost
Sammons Preston Rolyan Canada, “Shoe Buttons”	Plastic buttons are inserted onto the top 2 holes of the shoe and the laces are wrapped around them to maintain various levels of tightness.	These buttons cannot be used on running shoes that have loops for the shoelaces instead of holes; they were designed for one particular type of running shoe.	1 pair: $6.96 (Canadian)
Sporting Innovations Group, LLC. “Yankz! Sure Lace System” (U.S.company)	Shoe must be laced up with the Yankz! Laces from top to bottom, and the cords are then slid into the plastic “lock-system” casing. This device can adjust the length of the shoelaces.	These laces will require at least ___ to be threaded into the shoes and may be difficult for a child to understand how to use.	1 pair: $7.50 (American)
Tana Canada Inc., “Boingz Laces”	These laces are actually two cords that are twisted into a curly shape. The user must wear the shoe in order to lace it up, and the laces must untwisted in order to slip through the shoelace holes. In order to adjust the tightness of the laces, the user pulls on them.	When tested these shoelaces came untied relatively quickly in comparison to the testing done by our own device.	1 pair: $4.00 (Canadian)

The Survey

In order to better understand the market and demand for our product, red team conducted an oral survey of 56 people on July 16th, 2003 on the University of Waterloo campus.

All persons participating in the survey were randomly selected from people walking through the campus grounds. This is to ensure that participants of the survey were conscious the needs of children, every potential participant was asked if they were in contact with a child 14 years or younger. Only participants who answered yes to the above question were counted in the official count of participants.

The survey appears below:

1. We are designing a device that can be clipped onto a child’s shoe 
	      to prevent their shoelaces from coming undone. If there was such a 
	      product, would you buy it?

	a)	yes
	b)	no
          

2. If yes, how much are you willing to pay for such a device?

	a)	1-5	
	b)	6-10	
	c)	11-15	
	d)	16-20	
          

3. How old are you?

	a)	10-20	
	b)	21-30	
	c)	31-40	
	d)	41+	
          

Thank You for your time.

Results of Research

(name of product) is designed to help children avoid trips and falls resulting from shoelaces that have become untied. Data collected from a recent survey conducted on the University of Waterloo campus area revealed that the vast majority (88%) of interviewees who were in contact with a child 14 years of age or less were interested in the purchase of “a product which prevented untied shoelaces”. Of the surveyed people, most (59%) were 10-20 years old, but the people interviewed above the age of 31 all showed an enthusiastic response to the idea of the product (Note: all people interviewed who were over 31 were seen caring for children). Of the people who were interested in the product, 76% were willing to pay up to $5 for the product while the rest of the interviewees were willing to pay prices higher than $5. With a Manufacturer’s Suggested Retail Price (MSRP) of $4.98 a pair, our product will certainly be suitably priced for the majority of people.

1.  We are designing a device that can be clipped onto a child’s shoe
to prevent their shoelaces from coming undone. 
If there was such a product, would you buy it?

		Yes	49
		No	7
          

2) If yes, how much are you willing to pay for such a device?
	
		1-5	37
		6-10	8
		11-15	3
		16-20	1
          

3) How old are you?

		10-20	33
		21-30	15
		31-40	6
		41+	2