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Published byCharity Carr Modified over 9 years ago
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Bamboo to You By Team Boo Hoo Jane Doe & Claude Kane
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Product /Service Handmade bamboo fibre jewelry Bamboo Fibre jewelry made while the customer waits, in about 15-20 minutes In future years – bags, hats and natural clothing EcoBook bamboo covered laptop Dinnerware
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Customers Our Target Market is the affluent customer Prizm marketing defines our typical consumer as Young Literati : Upscale Urban Singles & Couples Bohemian Mix: Bohemian Singles & Couples Our Market will flourish in Glassboro http://www.claritas.com/MyBestSegments/Default.jsp?ID=20&SubID=&pageName=ZIP%2BCode%2BLook-up
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Market Competition Many NJ stores sell products with Bamboo Fibre; none specialize in handmade products. No store specializes in products made ONLY from Bamboo Fibre - a “first mover” competitive advantage Near Glassboro, four stores sell bamboo products – mostly ethnic cookware Most competitors sell goods manufactured outside the US; few US handcrafts We will create jewelry that is unique for the person who orders it.
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Price Structure Necklace prices range from $8 to $30 Decorative items at $10 - $50 Furniture $300 - $3,000.
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Price Structure Startup Cost – Bamboo & Fibre Materials Raw - $120 Beads - $1,345 Decorative Goods Stock $2,000 Store shelves and displays - $2,000 Equipment & supplies - $1,610 Building* - (22 E High St) $175,000 Total Estimated Startup –$182,055 http://www.loopnet.com/New-Jersey/Glassboro-Commercial-Real-Estate/
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Financing & Profitability Because start-up costs are low, we can use our own capital If we need any help, Jane’s father said he would help out Also, Claude can take a loan out from the bank We have estimated that the business will break even within one or two years The only thing that will hold this back is rent prices going up While figuring out how long it will take to become profitable, we realized that if we sold a little over 300 pants and jewelry pieces we would break even on my expenses in one year.
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Future Action In the future We hope to break even and begin making profit Once this happens, we will add the items When we start out, we will be working alone since We have done this work before In the future we also want to hire employees and possibly a partner to make running the business easier In 3 years We’d like to open another store in other university towns. We think this business idea is feasible due to its low start up costs and it distinctiveness of product.
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