Ross School - Senior Project 2006-07

Student: Daniel Richard   

Mentor: Patty Lein

Consultant: Debbie Woods

Domains: Business/Science

Product                            

Title: Business Proposal: A Biodiesel Firm

Description:

The focus of my Senior Project was to create a business plan for a company I called DanEagle Biodiesel. DanEagle Biodiesel could produce and distribute biodiesel to transportation companies such as the Hampton Jitney. My Senior Project consisted of learning how a company would produce a business plan, including marketing, financial planning, and legal ramifications of starting a company. I also discovered the scientific process that turns vegetable oil into biodiesel, and how much it would cost to build a production facility. 

 


Details:

My senior project product was a sixteen page business proposal that proposed a business called DanEagle Biodiesel in which the business would manufacture and distribute Biodiesel on the east end of Long Island.

Business Plan

Abstract

Being an entrepreneur and businessman is something that I have always loved to do and was good at. Since I was in elementary school I was involved in business. I discovered the barter system and bought the most popular snacks at the time and trade them for snacks that I’d want. In middle school I would sell bubble gum for a high profit and this is where I would gain the love for business. In the summer going into senior year was my most mature business venture. I assisted people in selling their cars for a percentage of the sale price. These experiences led me to want to go into the area of business for my senior project.  I knew I wanted my senior project to have something to do with this innate talent.

My primary goal of the senior prefect was to learn how to create a company. The rising gas prices inspired me to head into the area of fuel. Then I read a business magazine about an alternative diesel fuel called biodiesel, created from vegetable oil. At that point I knew I wanted to create a company that would address rising gas prices and global warming. Global warming was a large part of the inspiration for my project. The more I learned about global warming the more I became shocked at the damage and danger we were inflicting upon our earth. One statistic that I think everyone in America should know is that America makes up 5% of the world population but emits 25% of the worlds carbon emissions. Carbon emissions are what cause global warming. The world is already experiencing the affects of global warming as seen in the increase of violent storms. This is caused by the increasing temperature of the ocean temperature. The higher the ocean temperature’s are the more violent a storm will be. In 2006 Australia was hit by unusually strong cyclones. That year Australia was hit by five cyclones and one of them was the strongest ever recorded. Global warming will cause massive drought and heat waves. The ten hottest years ever recorded have happened in the last 14. 2005 was the hottest year ever recorded. In 2003 Europe was hit by a massive heat wave that killed 35,000 people. The Artic Ice Caps have diminished 40% in 40 years. This research is what inspired me to develop a company that would address global warming issues.

The basis of my senior project was to explore what goes into creating a business. I did this by creating a business plan for a company called DanEagle Biodiesel. Throughout the process of creating a business plan I would have to research many different topics such as global worming, marketing, biodiesel manufacturing and biodiesel qualities. I also created a small portion of biodiesel.

From the project I learned how to take an analytical approach to marketing strategies. I learned the production process of biodiesel. Learning how to Develop professional business relationships is a very important quality that I gained from the project. The revision process of my business plan was a learning experience that will surly help me in the future. Before the senior project I have never worked on a project of this magnitude for this long. The experience of this project will help me in future projects, in education and the professional world.  

My greatest challenge was time management. It is very important to budget ones time.  In the future, I plan to present the business plan to several companies including the Hampton Jitney and School Districts.

Works Cited

Carter, Dan ad Darby, Dave. How to Make Biodiesel. Winslow, United Kingdom: Low-Impact Living Initiative, February 2005.

Gore, Al. “An Inconvenient Truth” New York, New York: Melcher Media, 2006.

Pahl, Greg. Biodiesel: Growing A New Energy Economy. United States: Chelsea Green Publishing Company, January 2005.

 “Tax Incentive Fact Sheet.” Viewed 20 Jan. 2007. <www.biodiesel.org>.

Community Member (Details)

I consulted with two outside community members. One was Debby Woods from the Hampton Jitney and the other was Green Logic a solar panel installation company located in Sag Harbor. There website is: www.greenlogicenergy.com/index.html

I met with Green Logic at their office in Sag Harbor. We would discuss the significance of alternative energy and the tax incentives that where given for using them. Green Logic was interested in including a branch to there company that would deal with the Biodiesel and home heating. In result, our discussions would be based around this.

My other community member was Debby Woods. We would communicate via email. Here is a email that I sent to her:

1.How much did Hampton Jitney spend on diesel gas last year, and each of the past five years?

2.Has Hampton Jitney looked at using alternative energy such as biodiesel? If so what type of alternative sources have you considered and what might have prevented the company from making the change?

3.Could Hampton Jitney see themselves in the near future using green fuels? Do you think this would give you a competitive edge?