Introduction
Contemporary Ti Design designs and manufactures unique titanium jewelry. Contemporary Ti Design offers a variety of designs, including earnings, pins and pendants. Steve Artificer designed and produced all the products. The company has set the following goals for marketing and production over the next three-years in order to grow the business and reach the desired 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.
The Company
Contemporary Ti Design is a custom producer of titanium jewelry. Contemporary Ti Design offers a variety of jewelry options, including pendants, pins, and earnings. Steve Artificer makes all the pieces. The business will be located in Steve’s home. Steve sells the items through his website and select galleries. Steve hopes to hire a representative to deal with customers within the first eight months.
The Market
The jewelry industry is highly fragmented with thousands and thousands of artisans competing for distribution contracts and fame. Some artists work locally and distribute elsewhere, while others are part of national distribution systems. Some artists will design products for larger companies to manufacture, others will design and make the pieces themselves. Here are some examples of Contemporary Ti Competition:
- Artists create designs that can be manufactured on large scale and distributed across the country.
- Companies with their own designers. This is where all the work 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 are galleries, which can be used as distribution channels. The end consumer will be interacting with Steve via his website as well as through personal contact at exhibitions/shows. The exhibitions and events will allow visitors to meet with the galleries (museum shops and jewelry stores).
Financial Considerations
Steve Artificer has provided equity capital for Contemporary Ti. In the first year, we will surpass our break-even point. Based on sales in the next three fiscal years, conservative projections show that annual revenue will be $75,000 by Year 3 The company expects the cash balance to stay healthy.
1.1 Objectives
The following objectives are set for the initial three years of operation
- To build a company that manufactures jewelry with the goal of exceeding customers’ expectations.
- Contemporary’s design 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 create innovative pieces of jewelry made from titanium. Our mission is to keep customers happy and attract new ones. Everything else will follow this principle. Our services will surpass the expectations of customers.
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