Contemporary Ti Design creates and produces unique titanium jewelry. Contemporary Ti Design makes many different designs in the form of earnings, pins, and pendants. All of the products are designed and manufactured by Steve Artificer. The following are the marketing/production goals that the company has established for the next three years in order to expand and gain market penetration.
- The utilization of Contemporary’s designs in at least 40 different galleries.
- Increase the number and quality of designs by 8% each year.
Contemporary Ti Design is a custom producer of titanium jewelry. Contemporary Ti Design has many options for jewelry. They offer a range of products, from pendants to pins and even earnings. Steve Artificer is the designer of all pieces. His home will be the business’s headquarters. Steve sells the pieces directly through his website, as well as through select galleries and art exhibitions. Steve plans on hiring a sales representative in the eighteenth month to handle all customer interactions.
The jewelry industry is fragmented. There are thousands to even thousands of jewelers competing in the market for distribution contracts. While some artisans work locally and distribute their products, others have national distribution channels. Some artists will design products for larger companies to manufacture, others will design and make the pieces themselves. The following are examples of Contemporary Ti competition:
- Artists create designs that can be manufactured on large scale and distributed across the country.
- Companies that have their own designers in house. This is where all the work is done in-house: design, marketing, and wholesaling.
- Steve and other artists design and create all of their pieces, then sell them to the public.
Contemporary Ti Design will concentrate on two distinct types of customers. One is the end-consumer, the other are galleries, which can be used as distribution channels. Steve will allow the end consumer to interact via his website, as well as by personal contact at exhibitions/shows. Exhibitions and shows will be used to meet the galleries (museum shops, jewellery stores).
Considerations for Financial Planning
Contemporary Ti will be completely financed by equity capital provided by Steve Artificer. Our break-even point will be reached within the first one year. Based on sales projections over the next three-years, conservative projections predict an annual revenue in excess of $75,000 by year 3. The company expects its cash balance to be healthy.
The following are the goals for the first 3 years of operation:
- To build a jewelry manufacturing business whose main goal is to exceed customers’ expectations.
- Contemporary’s designs must be used in at minimum 40 different galleries.
- To increase the number od designs by 8% annually.
- To develop a profitable/sustainable home-based company.
Contemporary Ti Design’s mission is to make innovative pieces of art in jewelry form out of titanium. We are here to retain and attract customers. If we live by this principle, all else will follow. We exceed our customers’ expectations.