Executive Summary
Mission Statement
Moo Boutique’s mission is to create farmhouse-style crafts, eccentric gifts, holiday décor, repurpose furniture, and love all things vintage.
Objectives
Moo Boutique strives to create things that add a unique value to one’s Interior and holiday decorations. This is done in an ethical and sustainable manner by reusing and repurposing the materials. The Company ensures the quality of Its products and services by creating a client-oriented strategy, hiring the best specialists, and cooperating with vintage collectors.
Value
We treat our customers with respect and integrity as if they were a member of our own family. Our goal is to make sure our customers feel like they are walking into an “experience”, not just a sale, and leave feeling appreciated and special.
Our Values
With our partners, our crafts, and our customers at our core, we live these values:
- Creating a culture of warmth and belonging where everyone is welcome.
- Acting with courage, challenging the status quo, and finding new ways to grow our Company and each other.
- Being present, connecting with transparency, dignity, and respect.
- Delivering our very best in all we do, holding ourselves accountable for results.
- We are performance-driven through the lens of humanity.
Company and Industry
The company functions within the industry of repurposed furniture, vintage gifts, and holiday décorations. People who value quality tested by time, creativity, and uniqueness are searching for new entries to provide services and products to make their events and homes memorable.
Target Market
Although there are traditional ways of décorating the Interior and creating a holiday atmosphere offered by the mass market, the Moo Boutique company aims at a different audience. The target market of Moo Boutique involves people with Income that Is above average and who develop their taste and value vintage style.
Funding
Moo Boutique, Barn Loft Treasures is requesting a loan of $50,000.00 which will go towards capital expenditures and inventory/raw materials, including but not limited to building improvements and aesthetics, a computer and graphic design software, sublimation printer, transfer paper, heat press, cutter, office equipment, bookkeeping software, POS system,
Moo Boutique is requesting a loan of $75 000, which would go to the Company’s assets and liabilities that include expenses such as labor costs and purchase of materials.
Advertising
Moo Boutique, Barn Loft Treasures expects to drive awareness via radio, social media (F.B., I.G., SC, Twitter), direct mailings; advertisements hung at local business establishments, and promotional events. By keeping advertising fun and energetic, I plan to create a sense of camaraderie among local consumers.
To promote the products and services of Moo Boutique, the Company would use social media campaign that targets audiences Interested In vintage things and décor. Besides that, the advertisement will be published on websites where antique and vintage things are sold and purchased.
General Company Description
Mission Statement
Moo Boutique’s mission is to create farmhouse-style crafts, eccentric gifts, holiday décor, repurpose furniture, and love all things vintage.
Business Concept /Business Summary
Since a very young age, my dream has always been to start my own business. I have always been energetic and passionate, especially about projects and goals. I am a multi-tasker and often have many irons in the fire at once. There are always creative and innovative ideas swarming in my head, which I need to learn to organize and manage one by one. I am passionate about being organized and getting things done. I am a “go big or go home” person. When I have a project, I take it on full throttle and get hardly involved in it. I never had a quieter attitude, and I feel there is always a way to do something. If I am told It cannot be done, I exhaust every option before I give up. Not to be stubborn or rebellious, but because there usually is some way to accomplish something, it may take a little thought and ingenuity. People make me happy. When I am around people, I feel energized and motivated and have solid spiritual fulfillment. This is when I am at my inner best.
While attending college and fulfilling my degree(s), I have been proactive toward my goal of starting a seasonal business on my farm in rural Glyndon, MN. It will be called Moo Boutique, Barn Loft Treasures. I chose Moo Boutique as we have black Angus cattle on our farm, and many of them are “pets” with names. Its tagline is Barn Loft Treasures, as I plan to have my actual sales event(s) up in our barn loft.
My target audience is predominantly women ages 18-75 and males ages 25-75.
Over the years, I have purchased used furniture and collected vintage items with plans to repurpose and handcraft them for future sales. I have acquired most of the items I currently have stored through independent sales and donations. Throughout the years, I have also purchased new materials and supplies at clearance prices, so when I am ready to get started, I will be able to handcraft several items quickly and have inventory for sale. I continually have my eyes peeled for auctions, private sales, etc., to acquire additional pieces to repurpose.
I will be selling refurbished furniture, handcrafted decorative items, wood crafts, handcrafted seasonal décor, vintage gifts, and novelty items. I will have new merchandise for sale, food items, and baked goods. I plan to have seasonal sales events with a focused concentration on holidays such as Valentine’s Day, Mother’s Day, Father’s Day, and Christmas. I will have rustic tools and “burly man” merchandise for sale to attract some of the males within the vicinity. My husband is a well-known farmer and construction laborer and will have farm equipment that will also draw in the male demographic.
I have plans to sell my merchandise online, such as on Facebook lives, in addition to my seasonal events. My digital marketing degree will assist me in planning these social media events and keep me on track by watching/analyzing my sales and market data.
Strategy
The formation of a well-thought-out and grounded business strategy is of particular importance for the development of a start-up company. To do this, the first step will be to identify the objects that directly affect the result and productivity of work. Moreover, it is valuable to study the market for the sale of furniture and other interior items to understand how the business should be organized. In addition, it is important to develop a backup plan in case of difficulties and prediction of possible issues and how external and internal factors can affect the development of the company. This is especially important since my proposed organization relies on an above-average financial segment.
Objectives
My ultimate goal is to create a business where customers will feel they are part of something global and useful. Thus, they will have a certain valuable “experience”, which will not be limited to the purchase of an interior item. In my strategy, I intend to provide clients with a sense of value, importance and care. Thus, the main objective of creating a business is to create a favorable and loyal attitude on the part of buyers. The same can be attributed to the staff, which has one of the decisive roles in the success of the initiative. Moreover, another objective for me is to maintain the sustainability of the environment and limit the negative impact that production activities have on the well-being of people and the environment in order to create a secure future.
Goals
- Current:
- Create enough inventory to establish a marketable impact within the community after hosting my grand opening event. My overall goal is to leave a memorable experience that resonates with my new customers attracting them to future sales and word-of-mouth advertising on my behalf.
- Promoting my first Event.
- Take a QuickBooks class this summer. I have used it but taught myself. I need to learn the correct way.
- Grow a social media presence. Have a healthy number of followers on different social media platforms. I intend to sell my merchandise online via lives and still images.
- Social media contests and giveaways.
- Create an Email Campaign and Newsletter.
- Long Term:
- Continue creating inventory for surplus, avoiding skimpy visual appeal and decreasing sales.
- Consign other crafters
- Grow my business by introducing freelance graphic design services and merchandise production.
- Business location
- Keep my farm business location, adding a vendor location, i.e.) Moorhead Antique Mall.
- A brick-and-mortar location in town.
- Continue social media presence.
- Start an Etsy store.
- Legal Status: Limited Liability Corporation (LLC).
- Startup: Start-Up. Will open in January 2024.
- Business Schedule: Seasonal – Days and Times to be determined. Months, days, and hours your business will be open/in operation.
- Purpose: To lovingly produce one-of-a-kind handcrafted products and provide my customers with exceptional customer service offering them a heartfelt shopping “experience.”
- Reason Founded: The owner has always been employed by others and has stifled her dream of owning and operating her own business. At age 51, the owner has gone back to college to learn graphic design, digital marketing, and business management to further pursue her goal of starting her own business.
Owners
Over 37 years of experience in sales, merchandising, and creative design management. Worked as an insurance agent for several retail companies, graphic design firms, marketing for a volunteer blood bank, and the Grand Forks Chamber of Commerce as Operations Manager, VP. Ms. A owns 100% of the business.
Target Market and Industry
The demand for this market was rising significantly during the coronavirus (COVID-19) pandemic as people were compelled to find ways to entertain themselves while staying at home. During the health crisis in 2020, retail sales of arts and crafts in the U.S. surged to 1.17 billion U.S. dollars, its highest amount in the last ten years. Arts and crafts were the sixth fastest-growing toys, games, and hobbies category in the U.S. in 2020, recording nearly an 11% growth in retail sales over the previous year. The number of active sellers on Etsy skyrocketed in 2020 to a record high of around 4.4 million sellers, almost doubling the figure reported in the year prior to the pandemic. The $30 billion dollar craft and hobby industry represents a sizable chunk of the growing small business community within the United States. Startup costs for these types of businesses are low, and most owners can create items in their own homes, making it an accessible and affordable avenue for those starting a business.
Strengths and Core Competencies (Usp- Unique Selling Proposition)
A unique selling proposition (USP) plays a vital role in distinguishing a business from competitors. One of the core competencies of this approach in the company will be the creation of a well-thought-out corporate culture. It includes the definition of values, the nature of relationships within the organization, and the purpose of the business. The USP also includes human resource management. As already mentioned, the business will be aimed at creating the most comfortable working conditions for employees. Moreover, it also includes working on the limitation of discrimination and creating diversity and inclusion in the workplace. I consider this component to be one of the most important since the staff and their activities are a reflection of the company and help in establishing positive and loyal relationships with customers. Furthermore, another aspect is the constant conduct of market research, which will give a significant advantage over competitors.
Market Analysis
I have done extensive research over the years, both in-person and online, to determine the type of products and services customers desire in my market.
The online marketplace has three core sections: handmade, vintage, and supplies. According to industry estimates, almost 90 percent of sellers are represented in the handmade segment.
Market trends show the demand for this market is rising significantly during the coronavirus (COVID-19) pandemic as people were compelled to find ways to entertain themselves while staying at home. During the health crisis in 2020, retail sales of arts and crafts in the U.S. surged to 1.17 billion U.S. dollars, its highest amount in the last ten years (Statista Research Department). Arts and crafts were the sixth fastest-growing toys, games, and hobbies category in the U.S. in 2020, recording nearly an 11% growth in retail sales over the previous year. The number of active sellers on Etsy skyrocketed in 2020 to a record high of around 4.4 million sellers, almost doubling the figure reported in the year prior to the pandemic (Number of active Etsy sellers from 2012 to 2021 para. 1). The $30 billion dollar craft and hobby industry represents a sizable chunk of the growing small business community within the United States. Startup costs for these types of businesses are low, and most owners can create items in their own homes, making it an accessible and affordable avenue for those starting a business.
Businesses have temporarily closed and shut down entirely because of Covid. Now is a great time to start a business and capitalize on the opportunity for growth of the economy and the excitement of people stepping out of “isolation.”
Target Market
My target audience is predominantly women ages 18 to 75 and males ages 25 to 75. Since the business will start with just me, I will focus my attention and energy on gaining customers from the surrounding areas to expand my customer market through social media sales and attracting new buyers. My goal within the first year is to grow my social media to 1500 followers on Facebook and Instagram. Providing excellent customer service, especially at our grand opening event, will ensure that customers provide positive feedback and reviews to their family and friends.
Competition
I have searched and studied websites, social media pages, and online reviews of home-based crafters, especially those within a 50-mile radius. Most of the crafters or craft stores within the area are antique shops lacking an emphasis on handcrafted items.
There are two similar businesses that could be considered my direct competition; however, I chose to look at this as a positive rather than a negative as I can embrace them and utilize their business model to my advantage. Such as: being rural and having a seasonal business is a novelty and often looked forward to by locals.
One of the businesses, 14 miles from my farm, is owned by a very spiritual woman who exudes this side of her personality for all to share. As a customer of hers, I have first-hand knowledge of her kindness, authenticity, and spiritual being, and I feel we have much positive energy to offer one another as I have many similar personality traits as her. I do not feel as though I would be a threat to her business, as I feel we can only build great things from one another. She lives a few miles from my farm and has her sale a couple of times a year. If I have mine at the same time, her current customers will flow toward my Event. This is a win-win for both of us as it gives shoppers an opportunity to attend two similar events near one another. She has been in business for quite a few years and knows many people around the area. I have a customer base that will travel here from my hometown of Grand Forks, bringing new customers to her Event.
The other business, 26 miles from my farm, is owned by a gal that has many items for sale. However, it offers and sells antiques.
If we all can “work” together, I feel we have an exciting and fulfilling opportunity.
Having a hands-on approach to producing unique handcrafted items caters to our customers and strengthens our mission and value. Customer service has fallen to the wayside in business, which is key to the success and growth of a business. To set me apart from my competition and specialize in my own niche, I plan to focus on this crucial factor allowing for more one-on-one customer service and the opportunity to provide the exceptional shopping “experience” I value. Being price competitive and offering the best customer care and experience, I am confident I will be able to gain the trust, confidence, and loyalty of many of these customers.
I am a kind, caring, and generous person. Those that know me will appreciate my business style and the positive word of mouth I will send to my competitor. If we “work” together, I feel we have an exciting and fulfilling opportunity. I know this is not a get-rich business, but I do know there is a richness to be had in other ways.
Demographics
Clay County Population 62,324
- (11) Incorporated Cities in Clay County
- Barnesville, Comstock, Dilworth, Georgetown, Glyndon, Hawley, Hitterdal, Felton, Moorhead, Sabin, Ulen
- (30) Townships
- (7) Villages
- Averill, Baker, Dale, Downer, Kragness, Rollag, Rustad
- (4) Neighboring Counties
- Norman County to the North
- Becker County to the East
- Ottertail and Wilkin Counties to the South
- Cass County of N.D. to the West
Cass County Population 171,512
- (24) Cities in Cass County
- (50) Townships
Local Competitors
Rusty Barn Junque
- Flea Market/Home Décor/Events
- Upcycled ~ Recycled ~ Reclaimed ~ Vintage Home Furnishings, and more!
- Facebook Followers: 2639
Events:
- Annual Christmas Market – One Day Event
- Sat November 7, 2020
- 9 am – 2 pm
- Join us for our annual Christmas Market!! Christmas decor, farmhouse decor, repurposed furniture, jewelry & Baked goods
- Just 20 miles N.E. of Moorhead! Follow the signs!
- Annual Christmas Market – One Day event
- Sat November 6, 2021
- 9 am – 1 pm
Rusty Barn JUnQue Christmas Market invites you to a delightful day of shopping; Home decor, Christmas gifts, vintage, repurposed, and unique finds. Start the Christmas season at the barn as local makers provide an outstanding shopping experience for you. A quaint drive in the country, just 20 miles N.E. of Moorhead
Moorhead Antique Mall Booth 4
The Chalky Artist/Connie Bruse
Facebook Group
713 Members
Chalky and Company is a five-year-old Direct Sales company where we provide workshops free to the public with the purchase of a kit or furniture bundle. We had much fun and relaxed! Join the fun!
Inspired Designs by Connie Bruse
Antique Store, Painting Lessons, Vintage Store
Upcycled ~ Recycled ~ Reclaimed ~ Vintage Home Furnishings, and more!
- Facebook Followers: 1392
- Art, vintage, shabby chic, barn wood, quilting, and much more! My farm is N.W. of Horace, ND. We are open every other weekend from 10a-4p.
- Art, vintage, shabby chic, barn wood, quilting, and much more! My farm is N.W. of Horace ND. 4293 168th Ave SE Horace ND
Events:
- 40th Annual Prairie Boutique
- Horace Senior Center
- Sat, November 5, 2022
- 9-4 pm
We are giving you the best retail therapy once again! This boutique has surpassed the average and is known for the highest quality decor and clothing in the F.M. area. We will have jewelry, cards, quilted decor, vintage, handmade, and hand-painted decor, handwoven baskets, Christmas greens arrangements, gnomes, mugs, clothing, hand-knit scarves and sweaters, baby items, hand made bags, screen printed t-shirts, hand-carved wood signs, jellies, and baked goods, and watercolor paintings.
- 11th Annual Horace Winter Extravaganza
- Horace Senior Center
- Sat., February 12
- 9-4 pm
Is Winter cold getting to you? Well, we have FUN for you! 26 crafters, artists, and vendors have many beautiful items for you to see and buy for the right person. Homemade lunch is also available. Come out and see us. Enjoy!
12th Annual Unglued: Craft Fest
West Acres
- Fri March 11
- 4pm-8pm
- Sat March 12
- 10am-6pm
The Fest is March 11, 4-8 pm, and March 12, 10-6 pm, with FREE admission on both days – more below:
Oh heck yes, the 12th Annual Unglued: Craft Fest is almost here! This year we will be back at West Acres Mall with new crafty fun in-store, a Crafty Libations Lounge, free workshops, and crazy talented makers to meet and shop from!
We’ll take care of that cabin fever and get you inspired with over 65 curated modern handmade makers, artists, and crafters at West Acres on Friday 4-8 pm & Saturday 10-6 pm.
Admission is FREE all weekend – but there’ll be a bonus Crafty Lounge experience. You can snag a ticket for Friday night.
Additionally, we have a schedule bursting at the seams with free workshops, a West Acres scavenger hunt, and so.much.more! On both days, you can also enjoy the Crafty Libations Lounge with Wild Terra Cider, Dakota Vines, Drekker Brewing Company, and Proof Artisan Distillers. Plus, local D.J.s are pumping the tunes, Young Maker’s Market on Saturday, and their photo booth wall.
Stay in touch and watch for the full schedule here around February 20: www.ungluedcraftfest.com.
Follow here for the deets comin’ as we get closer for crazy fun ways for you to get creative, take in some art, and keep our creative community growing.
Simply Vintage
Facebook Followers 1213
Jewelry and Watches Store
Simply vintage offers one-of-a-kind pendants created from vintage treasures and much more.
Events:
- Fargo Pride of North Dakota
- Nov 2021
- Fri 4-9 pm
- Sat 9-5 pm
- Sun 11-4 pm
Vintage Rose
Dilworth, MN 56529
Moorhead Antique Mall
Moorhead, MN 5656
Management and Organization
Owners
Over 37 years of experience in sales, merchandising, and creative design management. Worked as an insurance agent for several retail companies, graphic design firms, marketing for a volunteer blood bank, and the Grand Forks Chamber of Commerce as Operations Manager, VP. Ms. A owns 100% of the business.
Professional Relationships
- Accountant.
- Attorney.
- Banker.
- Insurance Agent.
- Professional Advisors.
Products And/or Service Description
I will be selling refurbished furniture, handcrafted decorative items, wood crafts, handcrafted seasonal décor, eccentric gifts, vintage gifts, and novelty items. I will have new merchandise for sale as well as food items and baked goods. I plan to have seasonal sales events with a focused concentration on holidays such as Valentine’s Day, Mother’s Day, Father’s Day, and Christmas. I will have rustic tools and “burly man” merchandise for sale to attract some of the males within the vicinity. My husband is a well-known farmer and construction laborer and will have farm equipment that will also draw in the male demographic.
In addition, I plan to grow my business by offering graphic design services: illustration and artwork production, including, but not limited to, t-shirts, mugs, and novelty items.
I have plans to sell my merchandise online, such as on Facebook lives, in addition to my seasonal events. My digital marketing degree will assist me in planning these social media events and keep me on track by watching/analyzing my sales and market data.
Marketing and Sales
Consumer-oriented philosophy – identifying customer needs and satisfying those needs.
Like many small business startups, the first year of operation will be a learning experience. As with many things in life, success is often measured by trial and error. Innovative business practices include knowing when to pivot and change directions when something isn’t working towards a positive outcome.
Moo Boutique plans to open its barn doors for its first grand sales event on November 15, 2023. Having a grand opening before the Thanksgiving and Christmas Holidays is a great way to entice sales and solidify an excellent financial start.
Prior to the physical sale, I will establish new clients utilizing social media, and hang signage in local post offices and businesses, raising awareness of what is coming. I will do personal lives on Facebook, giving a sneak preview and educating the public on what is to come. Previews allow customers the opportunity to preplan for an event, especially if they want to coordinate transportation, shopping companionship, and a spending budget. With social media, there are so many ways to advertise, whether you are paying to promote or trying to gain likes, shares, comments, and followers. These all could lead to possible sales and repeat customers. Social media (Tik-Tok, Instagram, Facebook, Twitter, etc.) ads/videos/mentions will all be increased as the holidays near, enticing customers to do their holiday shopping at Moo Boutique. The overall goal of these events is to encourage our customers to immerse themselves in a joyful and magical shopping experience.
Develop a Marketing Strategy
Creating a good marketing strategy is essential for spreading awareness about the existence of my business. Presumably, the basis of my marketing will be the use of online platforms. In particular, this aspect concerns social networks, for example, Facebook, which will help in the growth strategy. The use of this information is conditioned by the active spread of online presence in modern society and the availability of various platforms for business advertising (Kingsnorth 58; Micu et al. 1095). Marketing will be carried out by creating a Facebook page of the company and using contextual advertising.
Since most people own their own houses or rent housing, the penetration of the market will be almost maximum. This is due to the fact that in addition to furniture, the company will offer various decorations and other items for a variety of interiors. As distribution channels, the business will use a direct channel. In other words, all products will be sold directly from the store or through an online platform.
Suppliers
Moo Boutique will have a list of suppliers for raw materials, office supplies, merchandise printing supplies, etc. This list is still being put together.
Subcontractors/Consigners
The first year of business operations will be solely myself creating, selling, and operating the business. Once the business has a solid footing, I may allow other crafters to consign some of their crafts to my store. These crafters would pay a 6-month consigners contract fee in exchange for displaying their merchandise for sale. In addition, a small percentage of each sale would be retained by Moo Boutique.
Value Chain
The value chain is one of the most critical components in the development of a business strategy and operation. This approach implies actions that include the process of creating a product (Kamran 334). The development of a value chain at the initial stage of the implementation of a business initiative allows you to get a complete picture of business procedures. Moreover, it will help to determine the aspects that are worth paying more attention to and which it is possible to reduce costs.
Thus, the first action that is performed when creating a product is incoming logistics. This step consists in determining the process of acquiring goods, warehousing, and inventory management of materials. Hence, all resources and manufactured products will be stored directly in a separate room in the boutique. Larger goods will be stored in a warehouse, and inventory management will be carried out by means of accounting using Excel. The initial logistics, such as distribution and marketing strategy, were discussed in the preceding sections.
Regarding after-sales service, customers will have a ten-day warranty. In such cases, they can receive free services for the return or replacement of the goods. As for large goods, such as furniture items, the warranty is five years from the date of purchase. This is due to the fact that this piece of furniture has a long circle of life. It is worth noting that the company will bear full responsibility for the quality of the products delivered.
Communication Strategy
- Advertising.
- Promotional Events.
- Direct Mailers.
- Social Media Marketing/Ads.
- Lives.
- Vehicle Magnet and/or Decal.
- Collateral/Marketing Materials.
- Publicity.
- Personal Selling.
- Website.
- Google Search.
Promotion
Promotional Plan Timeline and Budget
GRAND OPENING (I will choose the first weekend in Dec for the grand opening and then sales events on the two weekends listed)
- December 3-4, 2023, Saturday and Sunday (Do Lives throughout the Event)
- December 10-11, 2023, Saturday and Sunday (Do Lives throughout the Event)
- December 17-18, 2023, Saturday and Sunday (Do Lives throughout the Event)
The picture with Santa- there will be an area set up for pictures with Santa. (in the planning stage)
Grand Opening Theme: Christmas Wonderland.
Use Menards as inspiration: their Christmas tree section, I plan to have decorated-themed Christmas trees for sale (as a whole). The customer can walk into a magical setting of decorated trees, crafts, refurbished items, and new merchandise for sale. Each sale of mine will have a holiday or particular occasion theme. Emphasis will be placed on visual appeal and merchandising products and inventory in a group setting, enticing the customer to purchase multiple items that accentuate one another.
In addition, I will have a portion of the food and drink area with a menu of items: warm chili, pop, water, hot cocoa, and baked goods for sale.
Operation Christmas Child Shoeboxes – table with boxes. Purchase and fill or donate $15 to be filled.
- 12 Days of Christmas- Dec 12-23 DO LIVES DAILY – specials Include Norwex (more to come)
- February 11, 2023, Saturday Valentine’s Sale (14)
- March 11, 2023, Saturday St Pattys Day Sale (17)
- April 8, 2023, Saturday Easter Sale (9)
- May 7, 2023 Mother’s Day (8) and Memorial Day (30) Sale
- June 2023 Father’s Day ( )
- July 2023 4th of July (4)
- August 2023 Back to School
- September 2023
- October 2023 Halloween (31)
- November 2023 Thanksgiving ( )
- December 2023 Christmas (25)
Media Used
Frequency and Costs.
Operational Plan
Geographic Location and Facilities
I will operate, run, and maintain my business at my residential farm location in Glyndon, MN. My future goal is to purchase or lease a business location storefront within the local city limits once the business has become stable and producing enough income. I will continue the fabrication of merchandise at my farm location and, in addition, utilize the storefront to promote and display merchandise for sale, drive traffic, and gain a recognizable presence within the community.
Equipment
I will purchase the equipment needed to create, print, and transfer designs onto merchandise for sale. There will be a more significant initial investment upfront. However, it will be more cost-effective to purchase this startup equipment versus renting or leasing.
I will reevaluate after the first year to determine the financial possibility of purchasing additional equipment needed to expand upon my merchandise inventory.
Inventory
Each item will be individually marked with a sale tag. This tag will include an item number and price. When purchased, the item number will be entered into our computer system, which will adjust accordingly within our inventory management system.
Production
Products will be sold at my farm sales events, packaged, and handed directly to the customers. If an item is purchased online via Facebook, Esty, Moo Boutique’s website, etc., then it will be shipped directly to the customer per their delivery instructions. There will be a shipping charge, an amount determined by parcel size, weight, and customer zip code.
Training
I have completed a lot of research on my market competitors: learning about the type of merchandise they offer, their sales techniques, their sales platforms, marketing and advertising mediums, and reading customer reviews. I hope to utilize this knowledge in my own business practices enabling me to be welcomed into the personable “group” of crafters. My goal is to establish a following for the personality and creativity I provide while “enhancing” my competitor’s opportunity for sales traffic during my peak sales events. I will continue attending crafting events and seminars, watching social media, and engaging with my peers to learn what customers desire in crafted products and to stay ahead of the competition, having a constant pulse within the market. I have several friends within the graphic design and creative industry with whom I brainstorm on a frequent basis.
Funding Request and Startup Expenses
Exit Strategy
The future of Moo Boutique • Barn Loft Treasures will be contingent on numerous factors and will take dedication and demanding work for the business to succeed. Customer satisfaction and loyalty will be essential for the expansion and growth of the Company. My goal is to have the Company stable and able to sustain itself without additional monies from outside sources after the original investments. I strive to see the business making a profit after the second year with a goal of hiring one full-time crafter/employee after the first year.
In the Event my sales are down, future projections are dim, and I cannot produce a profit to keep the business afloat, I have an exit strategy in place, liquidating all company assets and ensuring all debts will be paid in full.
Financial Plan
Sales Forecast
To develop sales forecast, a study of current trends will be conducted. For example, at the moment society is very interested in preserving the environment and its sustainability. Thus, this will have a positive impact on sales due to the fact that the company offers products using reused and repurposed materials. The Excel program can be used to track sales, as it is the most accessible.
In addition, sales analytics tools can be used. Their value lies in combining data on products, as well as making forecasts and presenting analytics (Bishop). Another advantage of such programs is updated analytics in real time. This aspect is useful, as it can also provide timely problems in sales.
To assume future sales, the following scheme can be used. Let’s assume that the average seller in the same region had monthly sales of $300,000. In addition, after analyzing it, it can be assumed that the company’s annual revenue increased by 50 percent due to the spread of coronavirus infection. At the same time, the outflow was about 1% every month. To calculate the expected income, you need to multiply the monthly income by the expected growth and subtract the expected outflow:
($300,000 * 1.50) – ($300,000 *.01) = $447,000.
Works Cited
Bishop, Karri. “Sales Forecasting 101: Definition, Methods, Examples, KPIs.” Sales Hacker, 2022. Web.
Kamran, Qeis. Strategic Value Chain Management: Models for Competitive Advantage. Kogan Page Publishers, 2020.
Kingsnorth, Simon. Digital Marketing Strategy: An Integrated Approach to Online Marketing. Kogan Page Publishers, 2022.
Micu, Adrian, et al. “Analyzing User Sentiment in Social Media: Implications for Online Marketing Strategy.” Psychology & Marketing, vol. 34, no. 12, 2017, pp. 1094-1100.
“Number of Active Etsy Sellers from 2012 to 2021.” Statista, no date.
Statista Research Department. “Crafts and Creative Activities in the United States – Statistics & Facts.” Statista, 2022.