Custom Jewelry Business Plan – Project Topics for Student
Executive Summary
Introduction
Contemporary Ti Design is a designer and manufacturer of 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. In order to grow and achieve the desired level of market penetration, the company has outlined the following marketing/production goals over the next three years:
The utilization of Contemporary designs in at least 40 different galleries. Increase the number of designs offered by 8% per year.
The Company
Contemporary Ti Design, located in Hood River, OR, is a custom manufacturer of titanium jewelry. Contemporary Ti Design has a wide range of jewelry offerings, from pendants, to pins, to earnings. All of the pieces are made by Steve Artificer.
The business will based out of his home. Steve sells the pieces direct through his website as well as through selected galleries and art shows. Steve plans to hire a sales representative by month eight to handle customer interaction.
The Market
The jewelry industry is highly fragmented with thousands and thousands of artisans competing for distribution contracts and fame. Some work and distribute locally, others have national distribution systems set up. Some artists will design products for larger companies to manufacture, others will design and make the pieces themselves. Competition for Contemporary Ti takes the following forms:
Artists creating designs that are then manufactured on a large scale and distributed nationally. Companies that has their own designers in-house. In this case everything is done in-house, design, marketing and wholesaling. Artists such as Steve who design and make all of the pieces themselves, and then do the wholesaling or retailing themselves.
Contemporary Ti Design will be focusing on two distinct groups of customers. One is the end consumer, the other is galleries, to be used as a distribution channel. The end consumer will be interacting with Steve via his website as well as through personal contact at exhibitions/shows. The galleries (museum shops, jewelry stores) will also be met through the exhibitions and shows.
Financial Considerations
Contemporary Ti will be completely financed by equity capital provided by Steve Artificer. We will pass our break-even point within the first year. Conservative projections based on sales over the next three years yield an annual revenue of $75,000 by Year 3. The company expects its cash account to remain healthy.
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1.1 Objectives
The objectives for the first three years of operation include:
To create a jewelry manufacturing company whose primary goal is to exceed customer’s expectations. The utilization of Contemporary’s designs in at least 40 different galleries. To increase the number of designs offered by 8% per year. To develop a profitable/sustainable home-based company.1.2 Mission
Contemporary Ti Design’s mission is to make innovative pieces of art in jewelry form out of titanium. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall in to place. Our services will exceed the expectations of our customers.
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Custom Jewelry Business Plan – Project Topics for Student
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