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Jennifer Raney Herriage

Your Rockwall REALTOR®

Art Supply Store and Gallery Business Plan

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Art Supply Store and Gallery Business Plan


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&#8217’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

  1. 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).
  2. To reach 80% market share, and be the best art and craft provider on the island.
  3. To achieve a 50% profit margin within the first year.
  4. To be an active, vocal member of the community.
  5. 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:

  • Provide 100% satisfaction for all our customers.
  • Advertise and promote in areas where our target customer base will learn about our store.
  • Continually review the inventory and sales, and adjust our inventory levels as needed.
  • Provide products that have the highest quality, reliability and quality. We must offer premium products at a higher price than the competition. Loss leaders and other promotional offers that draw customers to the store to purchase goods, browse our services, or sign up for future events.
  • Be a member of our community.
  • Provide demonstrations, classes, and events in-store

    • 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.

    Feed and Farm Supply Business Plan

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    Feed and Farm Supply Business Plan


    The following plan, which draws on 16 years’ experience, is extremely focused and promises prosperity for its owners as well as its staff. It is based off conservative sales figures. However, actual sales may be greater. These projections are true and will be used for the business’ budget. Latheethen Feeds, Inc., which will make a profit right away, will continue to grow its sales and profits each subsequent year.

    Latheethen Feeds, Inc., is a well-established custom food store. The company manufactures custom livestock feeds and bird feed, as well other animal products. Latheethen Feeds, Inc. expanded its production facility (custommill) recently and is well-positioned for marketing its workroom production to clients beyond its existing client base. The company is committed in providing excellent customer service, meeting all agreed delivery dates and keeping sales prices under control to keep them in line with market trends. This business plan’s main purpose is to identify future clientele, present our marketing strategy, improve internal processes, and secure the financing we need to expand.

    Latheethen Feeds, Inc., Pleasantville, Michigan. The company is privately owned and has been in existence for nearly 16 years. They live next to the store and plan on moving to Northern Michigan after this transaction. The current owners and the new owners are actually family. They will still be available to help if they need it and visit the store bi-weekly.

    In the six surrounding counties of Latheethen Feeds are estimated to be 14,695 livestock farms and 20,434 hunter. The state’s entire market is available for delivery. Latheethen’s would then be in the market to compete for the business of 53,315 farms. USDA records indicate that the same farms spend nearly a quarter of an billion dollars each year on Michigan’s feed. The current share of the market in which the company is located is less that 1%. The state’s total annual revenue was $140,000 established by the owners in the past. They achieved this without the need for advertising and outside sales. The new owners want to grow the business to increase their share of $260,000 annually.

    This business plan will show after-tax profits of $22,806 for Year 1, and nearly $30,000 within three years.

    Latheethen has two expansion phases and requires funding in order to reach these goals. We are seeking a $15,000, short-term loan that can be repaid in the next two years. This loan will enable us to purchase a delivery truck, a key element of our new sales and marketing strategy. To build the best equine board stable in the region, we will require a $135,000 long-term loan. This loan is due to us in the first year of Year 2. Mid-Town Meadows will be an additional source of revenue and a source of feed sales. Mid-Town Meadows will be a comfortable, inviting equine resort designed to make our customers and their horses feel as if they are enjoying VIP services in a world all to themselves. The decor and theme will be rustic (log exterior walls), yet formal (private club house overlooking the enclosed arena). The main entrance already has the feed store, which is located next to a water fountain and company signage.

    1.1 Objectives

    Latheethen Feeds has five major objectives. These are the primary targets.

    1. To retain 100% of the existing customer base, you must provide consistent customer service.
    2. Direct referrals and aggressive sales can help us expand our customer base.
    3. We are expanding our product range gradually, depending on customer needs.
    4. Expand our custom feed mill to meet the growing sales market.
    5. As our customers’ desires are recognized, we can expand the variety of services available to them.

    1.2 Mission

    Latheethen Feeds is a family owned and operated company, dedicated to

    providing our customers with the best premium products and services on the market. Latheethen’s gives each customer the personal attention and care they need. Our commitment to customer service ensures our customers are 100% satisfied.

    1.3 Keys To Success

    These are the keys to Latheethen Feeds’ success:

    1. Freshness and quality of product.
    2. Variation and price
    3. To keep abreast of market trends, constant research is required in every industry.
    4. Management: products delivered on time, professional customer service, managing budgets.
    5. Continuous evaluation of strengths & weaknesses, with adjustments where necessary.

    DISCLOSURES

    Texas Real Estate Commission Information About Brokerage Service

    Texas Real Estate Commission Consumer Notice

    About Jennifer

    Unlike many who get into the field, real estate has been the only career for Jennifer Raney Herriage, who has excelled in serving clients for over 20 years.  Having grown up in a real estate family, Jennifer was first inspired by her mother, a broker … Read more...