The NALB Creative Centre (NCC), is where artists come together. NALB stands for “No Artist Left Behind”, and our company motto is: “Live Your Art.” NCC is a specialty store that offers a wide range of supplies and materials for artists and crafters, as well as a gallery and education center. NCC will provide a pleasant facility that will inspire and support amateurs, professionals and crafters in the Big Island art community. NALB will sponsor art competitions and fairs, as well as scholarships for artists who wish to continue their education. NALB will offer creative classes and workshops in many media and techniques.
The Market
NALB is leading in an exciting, growing market. Two stores are currently available on Hawaii’s island that only sell art and craft supplies. These stores are unable to provide education or hands-on opportunities. Neither currently supports the artists community in active ways. NALB is able to provide the highest level of customer service. NALB is an exclusive art supply store in West Hawaii that is owned and managed by artists. NALB Creative Center will be able to tap into West Hawaii’s growing population of professional artists. We will also be able to meet the needs for the growing retiree market (a 100% increase over the last 3 years), many of who have settled in Kona as a result of the vibrant and supportive art community. NALB will market actively for teachers and students in the rapidly growing private and public education systems.
The Organization
NALB is owned and operated by practicing artists. It was founded with the belief that happy customers are key to the success of the business. NALB Creative Center has this in mind and will work hard to meet all of its customers’ expectations. NCC will participate and educate in local art events to maintain its presence in the community of art and craft. The latest trends and products will be taught to staff at NALB. NALB’’s owners will anticipate and set consumer trends through their creative work.
Deliveries, Products and Services
NALB will be located in the commercial business park between Costco and Home Depot, in a 3,000 square foot store. Many of the original tenants were cabinetmakers. NALB will be able to offer a wide range of art and craft supplies thanks to its large floor space. We will be able to purchase directly from the manufacturers due to our size. This will allow us to avoid middleman mark-ups. Regular customers will get discounts. We will also offer free delivery in North Kona for orders of $300 or more. NALB will provide Artist’s Oasis holidays for travelers through the arrangement of local accommodations, renting equipment and selling supplies. We also offer maps and guides.
Financials
NCC will show modest profit from month one. Due to the ability of buying wholesale, margins are expected to be around 50% Sales in the first full year will be slightly over $300,000. The growth rate we expect is 5% in the first three year and 20% thereafter. Existing art supply stores have reported growth of 30%. Although we budget conservatively, we have great vision.
1.1 Objectives
- Customer Satisfaction: To create a shopping environment that caters to the needs of the art and craft community of the Big Island by offering knowledgeable and professional customer service. We will measure customer satisfaction by repeat business (our goal, 50% of our clients will return within six month to make another purchase) and multiple transactions (our objective is 30% of sales should be accompanied with an additional buy).
- To reach 80% market share, and be the best art and craft provider on the island.
- To achieve a 50% profit margin within the first year.
- To be an active, vocal member of the community.
- In year two, and three, to create Artist’s Oasis, Hawaii. This program would allow artists to rent local lodging and materials.
Success keys 1.2
To make NALB Creative Center succeed, we need:
1.3 Mission
NALB Creative Center’s mission is to support artists and crafters through the provision of quality supplies from reputable brands to meet their needs. They also host and support shows, classes, and contests. The island is promoted as an artist’s paradise and destination.
We will strive, constantly, to supply what the consumer is asking for; we will continually review what is available in the marketplace. We will be able to offer the services and products you need. NALB will continue to be a gathering place for artists.
Our customers’ trust in our ability and ability to exceed their expectations regarding price, selection, and service will determine our success.
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