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Table of Contents
Executive Summary………………………..…………………………………………………….3
Business Rationale
Customer Empathy, Problem Statement, Ideal State……………………………………………...4
Company Goals………………………………………...……………………………………….…4
About the Business
Mission Statement…………………………………………………………………………………5
Company Overview…………………...…………………………………………………………..5
Company Organization
Organizing…………………………………………………………………………………………5
Controlling…………………….…………………………………………………………………..6
Planning………………………...…………………………………………………………………6
Directing………………………………..…………………………………………………………7
SWOT………………………………..………………………..………………………………..…7
External Environment
Industry Analysis.…………….………..……………………………………………………….…8
Social Media………………………………..……………………………………..………………9
Current Economic Conditions………………………………..…………………………………...9
Competitive Analysis………………………………..……………………………………….10-12
Marketing Plan
Target Market & Segmentation …………………………………………………………...……..12
Marketing Mix……..……………………………………………………………………...….13-14
Marketing Analysis…………..….………………………..…………………………………..….15
Financial Planning
Break Even Analysis……………………………………………………………………….……16
Balance Sheet………………………..…………………………………………………………..17
Cash Budget……………………………………………………………………………………..18
Income Statement & Payroll…………………………………………………………………19-20
Appendix……………………………………………………………………………………21-26
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Executive Summary
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Business Rationale
Customer Empathy
At Plenty Package we realize that our customers’ time is valuable. With many working families
in the United States, it is often difficult to complete the most basic tasks in a timely fashion,
including buying gifts for loved ones. This is where Plenty Package steps in.
Problem Statement
Plenty Package wants to take the frustration out of gift giving. Our goal is to save our customers
time and money when it comes to purchasing gifts and basic necessities.
Ideal State
Customers have the ability to purchase high quality items from the comfort of their own home –
no running to several different stores to get the items you need. Our one stop shop is available
online 24/7, which gives customers the flexibility they need.
Company Goals
Short Term Goals
● Obtain a net profit of approximately
$500,000
● Increase business to business sales
Strategies
● Attend trade shows
● Promote customer satisfaction
Long Term Goals
● To expand product line
● Expand channels of distribution
Strategies
● Give back to the community
● Create a feedback section on the company website
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About the Business
Mission Statement
Plenty Package’s mission is to provide people with fully equipped care packages. We
provide our customers with popular, high quality products according to their loved ones’ wants
and needs. We cater to clients who are interested in giving to the military, new born babies,
families, and college students.
Company Overview
Plenty Package opened on September 14th 2018 for business in Franklin Square New
York We conduct at 230 Poppy Avenue, H Frank Carey High School. Plenty Package offers a
variety of care packages including the military, college, movies, and newborn babies. To expand
our market, Plenty Package distributes its products at trade shows, its online website, and social
media outlets not only to consumers but to businesses as well. Because Plenty Package offers a
different variety of products, most of the company’s target market is fit for middle to upper class
families and Virtual Enterprise participants who strive for convenience. Plenty Package aims to
promote affordable gift options while also providing its consumers with well packaged items.
While other companies have emphasized different types of care packages, none offer more
accessible and quality products like Plenty Packages’. Our company establishes and maintains an
organizational culture where associates feel safe, valued, motivated and challenged. The goal is
to recruit and retain superior associates by providing innovative tools and training opportunities
to stimulate personal and professional growth. This will support Plenty Package’s profitability
through increased productivity.
Company Organization
Organizing
Plenty Package has a structured hierarchy that runs under five departmental advisors and
one company advisor. The Chief Executive Officer (CEO), Nicholas Kubler, is responsible for
overseeing the company as a whole. The future successes of Plenty Package are dependent on
the Chief Executive Officer (CEO) and his decision making. In correlation to the long term- the
Chief Executive Officer is accountable for the development of the company. Assessing potential
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risks is a vital role under the Chief Operating Officer as our company is looking to limit future
hazards. Under the CEO is our Chief Operating Officer (COO). Our companies COO is Nicholas
Giacalone and his duties are as followed: Overseeing operations of the company and designing a
successful business operation; Collaborating with other department heads is a necessity as the
job of Chief Operating Officer requires exceptional communication skills. The other four
departments are Marketing, Human Resources, Financing, and Information Technology. The
Chief Marketing Officer (CMO) is Julia Riccobono. Her tasks include setting marketing goals
and managing sales to improve Plenty Package’s financial status. Our Chief Financial Officer
(CFO), is Christopher Perdios. A financial strategy is necessary for Plenty Package.
Additionally, the position of CFO is responsible for developing relationships with our
stakeholders and donors. Our Chief Technical Officer (CTO) is Danielle Recco. This department
provides knowledge and advice on our technological resources. Finally, our Vice President of
Human Resources, Kaitlyn Beers, manages and deals with customer relations and ensures
positive relationships in the office.
Controlling
Plenty Package monitors all aspects of the working world to ensure that each customer
gets their product at the highest quality. Our company values the importance of innovation and
collaboration by carefully selecting the best staff to get the job done. Our employee manual
outlines job responsibilities and standards for all employees. Plenty Package holds employee
evaluations quarterly by our human resources department to insure that our associates are
working in a timely and efficient matter. If standards are not being met, then the executive
department collaborates to discuss resolutions and improvements.
In addition to employee evaluations Plenty Package tracks the progress of each
department’s progression towards completing company goals. Our company holds performance
reviews at the end of each week to check the progress of the company’s projects. Plenty Package
also shows appreciation of completion of tasks by rewarding efficient associates as “Employee
of the Month”. Associates also gain recognition on our company’s social media pages.
Planning
Plenty Package has made goals to ensure that the company is moving in the right
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direction. There are always ways to improve and grow. All goals we intend to pursue will only
make the company more successful in the future. These goal are very ambitious, but our team
plans to make those goals to reality. Strides are being made constantly to achieve the goals
mentioned below:
Directing
Employees at Plenty Package are held to a high standard of expectations, and are
constantly being monitored on upcoming tasks and goals. Meetings are held by our CEO weekly
to outline and establish our company's goals. We have a file sharing system through google
drive, and a shared company email. In order to avoid miscommunication, we address all tasks
and necessary announcements at the beginning of every work day. These systems make it easier
for members of management to be notified on conflicts or completion of jobs.
To ensure that Plenty Package is running to the best of our ability, employee evaluations
are held quarterly by our human resources department. Each employee has an important role and
quota which can be found in our employee handbook. With carefully outline goals are employees
are always up to date on tasks and requirements necessary for that time period. Our goal is to
make each process simple and smooth, so everything can be completed orderly.
SWOT ANALYSIS
Strengths Weaknesses
-startup company -lack of a niche audience
-prices are more reasonable than competitors -startup company
-not many competitors -have not established our company in the V.E.
market
-superior products to other companies in the
same market Strategy to Improve
-give donations to charities based on package -advertise through the use of social media to
(i.e. military package) attract the attention of the youth
-filled with young employees that can give -make more connections with other V.E. firms
insight on how to market to younger
audiences -start with strong marketing materials that will
attract an audience
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Opportunities Threats
-trade show in January -similar products already on the market
-each package is targeted to a specific -lack of funding
audience
-shifts in consumer tastes away from the
-promote charity affiliations business’s products
Strategy to Improve
-get angel investors
-clearly separate our company from the ones
that are similar - lower pricing, different
packages, not subscription based
External Environment
Industry Analysis
With over 50,444 people who dorm in college and over 1,300,000 people in the military,
not including the 801,000 people in the reserves, there are plenty of potential customers. With
such a large primary market there are only a few competitors. With our less expensive prices and
high quality products we believe that we will stand out. Our product may have some down fall in
sales during the summer because of summer break; however, there should be a spike in sales in
September when students return back to school. There are lots of opportunities in that time frame
to run back to school campaigns.
Plenty Package does not only cater to family members of students away at college and
members of the military; we also cater to average everyday people. With packages such as the
movie package and our new baby boy/girl package we hope to expand our potential customer
base to become a household name. More and more people are purchasing products online. We
are taking advantage of this trend by selling our product primarily online.
According to SOURCE Research and Markets the care package industry is going to reach
34.36 billion by 2022 with a CAGR of 4.79% for that period. As of right now Asia-Pacific is the
dominant global care packaging market. As technology improves and these packages can
become more environmentally efficient the market is projected to spike even more. Personal care
packages hold 15% of the market.
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According to Forbes the subscription based market is growing at an extremely fast rate.
Since 2014 the market has grown by 890%. In 2017 it grew by 10% and in 2018 by 4%.2 The
rapid increase in market growth can be attributed to the introduction of beauty and food boxes.
60% of the customers make up this niche. Beauty is growing at an extremely large rate. New
brand helps to lead the growth. In the U.S there are 18.5 million subscription box subscribers.
The introduction of subscription boxes changed the market greatly due to the security of profit
each month and the industry’s explosive growth over the last 4 years.
Social Media
Social Media is the most beneficial way to promote our company. It is popular amongst
teens, and adults. Teens and adults look to it for trends and new items. We have an Instagram
account is order to promote Plenty Package and all the different things we have to offer. Our
social media account will be monitored every day and we can communicate with our customers
and provide excellent customer service. We can promote the new products that we will create in
the future.
On Instagram, we will be posting pictures and information on our products in order to get
more viewers., taking into account how popular social media is. In the near future we are
planning on making other social media accounts too. Since we have a limited budget and need to
put it to the greatest use, we are going to advertise on google for roughly three hundred dollars
for a month of advertising. This will benefit our company because, google is available in every
country and is the main place where people go to search anything. We have a website where
customers will be able to order items and give reviews which will attract other customers and
also give us advice on what we need to do better. Trade Shows are the main place where any
company advertises the products. The trade shows will be our main place to market our product.
We can interact with others personally and pitch our idea.
Plenty Package benefits from an improving economy. The national unemployment rate
currently sits at 4.1% as of January 2018. This is an increase from the 4.4% unemployment rate
in which the United States had experienced last year, in 2017. Plenty Package is a small firm that
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is combating the unemployment rate by becoming continuing to grow and offering more jobs to
more people. At this point in time, the United States is currently experiencing healthy economic
growth. According to the CIA World Factbook, as of 2017, the GDP per capita is now at 2.2%,
which is significantly higher than where the GDP per capita was in the 2016, in which it sat at
1.6%. Since the increase in the national GDP, there has been an increase in local businesses,
much like Plenty Package. Local businesses help to create new markets and new goods that
people will want to create. The current U.S. inflation rate is 2.1%, as of January 2018. The
inflation rate has fluctuated throughout 2017, but now in 2018, the rate has remained fairly
consistent and therefore, our consumers can remain confident that our prices will remain constant
when purchasing our goods.
Competitive Analysis
Plenty Package is in direct competition with What’s In The Box? and GoodieBox in the
care packaging market. All companies sell a variety of packages with items that can be sold to
multiple different demographics. Our packages include everything including college care, child
care, candy packages, movie packages, and more. Our competition in the VE world is very
limited even though we are indirectly in competition with 400+ Virtual Enterprise businesses
nationwide. Plenty Package has differentiated itself from competitors by including the best
quality items for an affordable price. We offer packages with higher quality items and a greater
quantity of items than our competitors. Also, we are very specific when describing the products
that we offer to our customers which makes the purchasing process easier.
Philanthropy ✓
Baby Package ✓
Low-Cost ✓ ✓
Military Box ✓
Candy Package ✓
Movie Package ✓ ✓ ✓
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The map to the right shows the locations of our
competitors. With such a large network of
opportunity, we plan on doing business with at
least 25% of the VE companies we are competing
with. Our goal is to connect with these firms
online, at trade shows and over the phone.
Real
Virtual
The virtual market is comprised of some firms that offer similar services to Plenty
Package. Companies such as What’s in the Box offer items dedicated to one specific niche
audience, while Plenty Package does not have as small as a niche, and this is a benefit to us
because we offer products that suit a wider audience’s needs which in turn can lead to more
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profit. In addition to this issue, What’s in the Box’s lack of an affordable price is something that
can lead to issues trying to sell their product while Plenty Package has an affordable price, and
we are still making a large profit off of our goods. Due to these reasons, it is clear to see why
Plenty Package will profit off of our goods and will begin to thrive in the V.E. economy.
Marketing Plan
Our company’s target market includes three markets. Our primary market is our families.
Families are our main target consumers because our care packages are most fit for homely
activities and appropriate for families of all backgrounds and from all different locations. Our
secondary market is the VE businesses. As well as families we also cater to the teens that run the
VE firms. These teens will be looking for packages to send to their coworkers and their family
members. Also, the packages will be good to purchase for events they may have. Our tertiary
market will consist of our non-virtual clients. This would include school faculty, members of our
community, business owners, and family members.
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Marketing Mix
Product
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Price
Plenty Package offers a variety of baskets which range in price from $39.99 to $149.99. Our
prices are fairly affordable considering that we offer high quality products. We also offer free
shipping on all packages.
Position
Our customers are the most important part to our business. We want them to have the most
pleasant experience as possible. We want to be held at the same standards as other major
companies like Walmart. We aim to be family friendly and be as helpful as possible to our loyal
customers. One of the many things that sets us apart from other care package companies is that
we have specific baskets that go to all sorts of causes like the military. No other company has
this option available to their customers. We also have phenomenal prices for what we’re
offering.
Promotion
Advertising
We’ve created a website for our company, Plenty Package. The website has many options
for our loyal customers to purchase our wonderful products. We have designed company t-shirts
with our logo on it, business cards with Plenty Packages’ information on it to give out to
people. The company also has a banner with our logo on it for tradeshows and other uses for
advertisement. Additionally, we have an Instagram where we promote our company. We’re
looking into doing business with as many companies as possible to make powerful connections
and bonds with our loyal customers. We plan on expanding later the year if the sales can support
our expansion.
VE Firms
We’re in contact with some of the other VE firms like Rapid brew NY and Forever Fit. Our
plan is to try and make connections in order to raise sales for not only our firm, but theirs as
well. There are many more benefits that come with working with other VE firms that are yet to
come but will soon. We would love to work with other people overseas and reach a broader
audience for our products.
Direct Marketing
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Direct Mail: We currently do not have a direct mail program in action right now but our
plan is to send out pamphlets and coupons to people who have shopped for similar items.
We send out emails to rival firms to see if they’d like to work together in order to build
relationships and gain sales in exchange for purchase of their products.
Marketing Analysis
The VE International Firm Directory shows that the there is only a few competitors in the
care package industry specifically in long Island we are the only care package company.
Throughout the competition we manage to be the most affordable option for care packages in
spades. With 371 firms nationally and only a few firms in the package industry, our high quality
and affordable prices will attract customers. At the Long Island trade show we will be the only
care package firm there.
The majority of Virtual Enterprise firms are considerably cash heavy and they are
growing. Total sales amounts are usually over 1 million dollars for most VE firms. There are
both existing companies and many startups. This Virtual Enterprise economy opens up many
opportunities for Plenty Package because with all of the extra money in the economy companies
have more money to spend. Because of this we can either push for higher prices or to sell more
product and have a high chance of being successful.
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Financial Planning
Break Even Analysis
Plenty Package deals packages including a movie package, 2 baby packages one for a
male and the other for a female. In addition, we have packages for the military and for college
students. The prices of our packages vary from $39.99 to $149.99 so we found an average cost of
each unit to be $65.99. For the breakeven analysis we kept the costs to be fixed so we can get a
value as our break-even point.
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Balance Sheet:
As of December 1, 2018, Plenty Package had $41,811 for cash in bank. This being our
largest asset due to an outside Angel Investor. All of our assets add up to a total of $54,773.66
Cash Budget
We plan to take in $500,000.00 throughout the course of the year. We will be acquiring this
through pure sales. We will not be taking out any loans however we received a $50,000.00
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investment which helped to pay for the initial $8350.20 in merchandise. The money is also going
to be paying for utilities and rent. We project to have a cash balance of $550,000.00 at the end of
April 2019.
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Income Summary
Operating expenses
Salaries $10,700 $10,700 $10,700 $10,700 $10,700 $10,700 $10,700
Rent $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050
Depreciation $37.51 $37.51 $ $ $ $ $
Payroll tax $1,326.80 $1,326.80 $ $ $ $ $
Advertising $0 $0 $ $ $ $ $
Insurance $3,485.71 $3,485.71 $3,485.71 $3,485.71 $3,485.71 $3,485.71 $3,485.71
Supplies $0 $0.00 $0 $0 $0 $0 $0
Utilities $550 $550 $ $ $ $ $
Allowance for Doubtful
Accounts $0 $0 $ $ $ $ $
Other $0 $0 $ $ $ $ $
Total operating
expenses $17,150.02 $17,150.02 $ $ $ $ $
Income from
operations ($17,150.02) ($3,348.85) $ $ $ $ $
Other revenues/gains
and expenses/losses $0 $50,000 $ $ $ $ $
Net Income before
taxes ($17,150.02) $46,651.15 $ $ $ $ $
Corporate income tax 21% 21% 21% 21% 21% 21% 21%
Net income after taxes ($17,150.02) $36,854.41 $ $ $ $ $
Inventory, beginning of
the month $0 $5,616.10 $ $ $ $ $
Add: Purchases $0 $ $ $ $ $ $
$ $ $ $ $ $ $
Less: Inventory, end of
month $0 $ $ $ $ $ $
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As a company with a newly written business plan, we hope to start out our business
strong, starting the month of October. When December rolls around, we project one of our
largest volume of sales because everyone is shopping for friends and family. Other large
predictions include December and April because of the California and New York trade shows,
respectively. The months prior, November and March are expected to bring in a considerable
amount of sales because companies are trying to design their booths in preparation. Slower sales
are estimated to occur in January and February.
Payroll
Name Bi-Weekly Salary Social Security Tax Medicare FWT SWT 401 (K) Net Pay
Nick Kubler $300.00 $18.60 $4.35 $22.95 $12.75 $0.00 $241.35
Julia Riccobono $250.00 $15.50 $3.63 $19.13 $10.63 $0.00 $201.11
Chris Perdios $250.00 $15.50 $3.63 $19.13 $10.63 $0.00 $201.11
Nick Giacalone $250.00 $15.50 $3.63 $19.13 $10.63 $0.00 $201.11
Danielle Recco $250.00 $15.50 $3.63 $19.13 $10.63 $0.00 $201.11
Kaitlyn Beers $250.00 $15.50 $3.63 $19.13 $10.63 $0.00 $201.11
Alyssa Fiscella $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
David Ferreiro $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Connor
Huckemeyer $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Jason Schemmer $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Gerard Devito $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Julia Zacharias $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Anthony
Dicrescento $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Frank Lombardo $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Emily Somma $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Bryan Distanislao $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Lou Capriotti $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Alessandro Viti $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Rob Metzger $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Mark Spano $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Fawaad Zahid $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Joe Surico $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Nick Minneno $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Jordan Brion $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
Grace Catanese $200.00 $12.40 $2.90 $15.30 $8.50 $0.00 $160.90
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Appendix
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Out of Network Contract & Sales
Plenty Package
230 Poppy Ave
Franklin Square, NY 11010
(516) 539-1766
Plentypackage.ny@veinternational.org
Business Contract
This agreement is effective as of _____________ between ________________ and
_______________ of Plenty Package. The parties hereby agree to the following terms and
conditions:
___________________ hereby agrees to purchase the items below, supplied by Plenty Package.
Skittles 2
Airheads 5
Smarties 10
Dum Dum 10
M&M 2
Starbursts 2
Twix 2
Snickers 2
KitKat 2
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Hershey 2
Hershey/Almond 2
Sour Patch 2
Swedish Fish 2
Reese’s 2
ITunes Gift Card 1
Teddy Bear 1
Onesie 1
Blanket 1
Book 2
Pacifier 3
Bottle 2
Boots 1
Bib 2
Package Price ($)
Baby Girl Quantity $39.99
Item 003
Teddy Bear 1
Onesie 1
Blanket 1
Book 2
Pacifier 3
Bottle 2
Boots 1
Bib 2
Chewy Bars 2
5 Hr. Energy 2
Shaving Cream 1
Peanuts 2
Razor 2
Deodorant 1
Deck of Cards 1
Toothpaste 1
Toothbrush 2
Blanket 1
Popsocket 1
String Lights 1
Mini Speaker 1
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Ramen Noodles 3
Portable Charger 1
Socks 3
Starbucks Gift Card 1
TERMS AND CONDITIONS - This is a one- time purchase effective as of ________________. Title
and ownership of this agreement is non-transferable to any other party.
Plenty Package guarantees delivery of the quantities and items stated above in accordance with the terms
and conditions stated in this agreement. Plenty Package hereby agrees to honor the firm-fixed prices
stated above during the period of the contract agreement with no consideration for economic price
adjustments.
CANCELLATION – The Contract may not be cancelled without the written agreement of both parties.
Any party defaulting on the stated terms will incur the costs associated with recovery and all associated
litigation fees.
RENEWABLE OPTIONS – During the final period of this agreement, either party may offer to
negotiate optional years.
The signatures below represent the authority to fully execute this agreement.
____________________________________________ __________________________
Signature of Buyer Date
____________________________________________ __________________________
Printed Name / Title Phone Number
____________________________________________ __________________________
Signature of (Virtual Enterprise Firm Representative) Date
_____________________________________________ __________________________
Printed Name and Title Phone Number
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