Baraton Interior Designers Business Ideas - Example

Baraton interior designers business ides by (your name) Interior designing and product sales for interior designing of homes and offices. Key Partners The key partner is the Melbourne construction company who will provide raw materials of constructed houses for internal designing. The suppliers are the local craftsmen. Our partner links their customers to ours. Our partners specialize in construction Key Activities The activities mainly are consultation services as well as design product sales. They will be distributed to the stores in several towns in Melbourne. The firm will collect revenues from its premises and build a strong customer relations Value Propositions We provide quality interior design to customers, by solving the problem of poor design of offices and homes. We offer consultation services as well as interior design products, e.g. furniture. We are adding quality and luxury to our customers. Our competitors are cheap in both pricing and quality Customer Relationships Customers expect good relations from our range of expertise client handling. Repetitive buying will help establish relationships, which is integrated in our marketing strategy. These customers draw more ones with time. It is time costly to build relationship, since it’s a matter of customers trusting our work. Customer Segments The value is created to the clients we are targeting 100 customers a month with increase with time. Most paying customers are ones in big cities and with higher income generation, we can capture a third of Melbourne market share in 5 years, a quarter in 3 years Key Resources The resources needed in the firm will be the raw materials for fabrics and furniture, they will be distributed through the esteemed suppliers Channels We will use television and print media to reach our new customers, now the firm uses its website to reach its customers. TV adverts will work the best. Website is cost efficient since no charges to advertise in our website. We integrate then in TVs to target customers in homes. User Segments The important end users are our clients as well as friends who see our art work. We project about 15 potential users by nvember2015 Cost Structure Our most important costs are the total costs, fixed costs, marginal costs and the variable costs. The most expensive resources are the furniture’s and offices designing are the expensive activities Revenue Streams The clients are willing to pay as much as the service is quality and cost effective, most are willing to pay $100 an hour for consultations. We are currently charging $120 an hour for consultations with a few complaining. The revenues from consultations and services as well as product sales collectively sum of the firm’s total revenues. Project Initiative Proposal Name Institutional Affiliation Date Executive Summary My proposed business venture seeking to offer exclusive interior design services for offices and homes in Melbourne in Victoria State. It will as well contain compliment products for the designs of the consulting services which include both new and antique furniture, homes and office accessories as well as decorator fabrics. This business venture will offer specialized and professional interior designing in a way that is unique to the process if implementation. A recent market study in Melbourne indicated that there is a specialized need for new interior designing services and products, my interior design business will therefore offer the market the desires services. The market strategy will involve a cost effective approach meant to reach out to the intended target market. My business seeks to serve about a fraction of 100,000 people in Melbourne. Most of our target are people of high class and wealthy who wish to have a feel of improved designing of their homes and offices. The approach to promote my proposed interior design firm will be through interactive process of marketing with the community. My business will intend to as well establish relationships with key personnel through referral activities once we establish the client base. It will as well seek to establish loyalty and solid relationships with the client as well as providing services based on customer’s tastes, goals, use, and budget. The nature of pricing, availability and quality of my interior services will differentiate the services with others in the region. Objectives My interior design business will work to achieve each of the following objectives; 1. To reach the average sales of $4,560 in each business month in the first year, $6,730 in the second year and $7,420 in the third year. 2. To ensure generation of 40% minimum of revenues got from product sales compared to consulting billing. 3. To establish a commercial value for client base accounting for 15% of the total revenues got. Goal To be a successful interior business sin Melbourne, achieve the target of one million customers in one year and achieve revenues of $250,000 in a year. Key to Success Primarily, the key to success in the business will be based on the following factors; 1. Providing the highest quality interiors designing as well as consultations where available, 2. Sell specifies products to consumers wishing to meet their interior design dream, 3. Provide effective communication to our clients, through our website as well as hotlines, 4. Ensure retention of clients to repeatedly buy our products as well as initiate referrals and consultations, through an effective after sales service. Company Summary My start up business will venture in providing interiors design products and services. The business will provide guidance and council to the individuals seeking to develop concepts in interior designing and implementation. The business will remain to offer home based and office designing for the first year and advance with the consecutive years. The proposed business will offer customers with new and antique furniture for purchase, decorator fabric, art work as well as home accessories. The firm will as well develop a dot com website, in which it will engage all its customers with new products and services in interior designing. Business Timeline The business proposal is set to start at the end of 2015, mid-November. The first plan is stipulated for three years, with its full profits expected after 5 months upon its establishment. The three year timeline will include the full revenue collections for reach month as well as stipulated profits for each month. The business will start officially on Monday the 19th of October after an opening awareness and ceremony done on the previous Sunday. The business is expected to make loss on first month till February next year, where it’s expected to make profits. This business proposal is meant to last for 3 years, after which another plan will be strategized for the business. Company Ownership, Locations and Facilities My desired businesslocation will be in Melbourne, Victoria state and will be registered in the state of Victoria as a sole proprietor business which will be owned and operated by my family. My interior design business will be operated from a home office, situated in Melbourne Victoria. The premise will be dedicated to support all the work areas, display samples of design concepts, past work as products as well as hosting the clients’ contract work areas. Products and Services I will mainly focus on interior design consulting. This will be complimented by an exclusive purchasing of furniture, decorator fabric, artwork, at home accessories as well as in offices. The sales theme will commence with interior designing as well as progress to offering of specialized components to cover the entire designing theme. The list of my intended business products will entail the following; 1. Furniture’s specially designed to suit the customers, which will be got from liaising with local craftsmen in Melbourne, 2. Selected decorator fabrics from all over Melbourne from specialized designers, 3. A drapery hardware, commonly known as ‘oval office iron’, used in most of Australia’s states and which will be purchased from the firm’s website, 4. Art pieces as well as accessories which will be displayed in the firm’s premises for sale, 5. Hard window coverings as well as window treatment products, interior shutters and antiques for specific customer needs. Competitive Comparison Our competition will be from merely other businesses offering interior designing from Melbourne as well as the entire Victoria state. There is as well co petition from other businesses offering ‘do-by-self’ internal designing services who own retail stores and websites. Among our competitors is the Melbourne Internal Designers Company And Inc. who have been in the industry since 1990s and who are widely known and considered for inter al designing services and products. Discount stores across Melbourne towns will as well offer competition for furniture sales since more customers consider their offers. Market Analysis Summary My proposed firm has a well-defined target market in which it intends to base its business. The market is only identical for homes designing as well as offices, identical for both roles in those spaces. Effective market strategy will be crucial for the client penetration and future success of the business. My family holds the relevant information in the market as well as their clients, which will serve better to comprehend specific needs as well as effective communication means with the customers. Target Market Segmentation Strategy My interiors design firm marketing strategy will involves creation of awareness, appeal and interest in the target market in which the Baraton interiors will be working from. I intend to sell the products to the middle and the upper income earning individuals in Melbourne. Despite the speculated revenue collections, these factors may impact on the success as well as challenges of Baraton interiors: national economic health, shifts in market design trends as well as new homes construction activities. My firm will as well provide with their customers an environment to express their desires as well as choosing to actively involve them in the designing process. The interior design for the past years had lagged but its showing cautious optima and therefore a good move for the business venture. We will as well incorporate fellow interior designers and traditional fabric retailers. Strategy and Implementation Summary Our marketing and sales strategy will involve the following factors; a premium consulting experience which provides client experience through, sale of other design products which add value to the clients’ experience, experience provision that results to business that is for r homes and office as well as clients referrals.1 These tactics will be implemented through strategies addressed in this section The firm will as well conduct some SWOT analysis to gauge on both external and internal factors to affect their performance. The strengths that the firm hold arethe following; the ability to provide an excellent client service, string relationship between the suppliers and the firm as well as architects, vendors and client loyalty achieved by solid customer reputation and high dollar purchase. Threats which the firm is most likely to cause are; pricing pressure from competitors as well as weakening of the market contribution margins, changed in design notspeculated for including fabric styles and colors, expansion of services and products offered by retail promotion stores and catalog sources, which are aggressively priced in fabric product trend setting. Strategy Pyramid The following are strategies to be used by my firm in its marketing and sales, which address retail revenue; web based sales as well as expansion to non-fabric sources. 1. Strategy 1 will involve generation of referrals. The first tactic will entail building strong client base through existing details lavage. The second tactic will involve build of strong referral network by mean of professional contacts. 2. Strategy 2 will involve product sales. The first tactic will be promoting all devices available in the firm. The second will involve holding seminars and demos for promotion purposes, and then lastly thefilm will conduct cross selling activities in home and office consultations. 3. Strategy 3 will entail awareness generation through websites. In this case my firm will involve in cooperate a website through which its information will be available. This will help in integrating completed client works. The market strategy relies upon provision of unique consultation services as well as quality wise result of client works. The market strategy will always be appealing as well as create awareness to all clients compared to other interior designers in the market.2 This will be done in a manner that the clients will always come back for more purchases while building a strong relationship and an empire in interior designing. In a bid to promote the business, my management will embark in print media advertisement, which is most effective since many people red newspapers in Melbourne. Television advertisements will also be used, in the local TV stations as well as production of a quarterly business post card, a direct mailing card distributed to all client mails in the list. Baraton interiors will have four main strategies for marketing, which will be; 1. To increase awareness and image 2. To leverage the existing client base 3. Cross selling 4. New home and office construction promotions Management Summary I will be the founder as well as the owner of my interior design company. I am a bachelor’s degree holder from theUniversityof Oregon in US in 2006 through the college of architecture and interior designing. I have worked for many years in an interior design company in Sydney, and have ever considered starting my own firm. I will be the overseer of the interior design company as well as all business activities of the firm. My responsibilities will involve by all means establishing the business, buying, bookkeeping, marketing as well as financial dealings. The organizational structure of my interior design company will be very simple; I will manage all the workers as well as the professional consultants. Being the CEO of the firm, I will be interfacing with over 15 account staff. I will be the person in charge if the business and I will be determining the resource requirements as well as monitor all the expenses of the firm. In the personal plan, I will be the sole proprietor with no employees at the starting point. Labor for contraction on fabric and upholstery purposes will be required, which will be included in the cost of goods in each clients required project. My salary will modestly begin at $1500 per month while gaining an increase on quarterly basis then project to $2800 in the second year than $ 3500 in the third year. Financial Analysis I will be the owner of the business and so I will pump $25,000 as the capital to start up the business. The goal of this is to fun the growth and the progress of the business from its earnings. The financial analysis will involve the following essential factors, a. Growth rate of 45% fir the first year, 2016 as well as 25% for 2017 b. An averaging sales in a month, increasing each year, with average of $4560 in the startup year 2016, $6370 in the second year and $ 7480 for the third year. c. Continued fund of the business front e revenue it generates. Some of the financial difficulties and risks will be expected to face the firm. Some of them are, slow sales mainly from less than projected cash flows, unexpected cost increases, aggressive actions by competitors as well as parallel entries of new competitors who would diminish baritones’ revenue potential.3 The interior design company’s future success will be based on the following assumptions; a healthy economy to support growth in the market, the ability to have a gross marginal percent over 65%, operations costs kept low and receiving payments in time. At all times the following should be kept; gross margins will be kept over 65%, month to month increase in revenues as well as self-fund growth to set goals.4 Conclusion The interior designing company will be successful if it works hard with the stipulated strategies. The company will generate great goals and objectives which when well worked for in the strategy framework the company will realize its financial dream. The company will need to take the best economic measures, to ensure that it does not incur too many costs in production, rather than capitalizing on sales of the products as well as consultations services. With the right management good financial flow the interiors company will progress to greater heights. All these will be achieved if we employed strategies which compete productively with those of their rival competitors. The firm can dominate the market in Melbourne and even sail past traditionally established designers. This project proposal if well evaluated and executed will bring up a good business. References Jean Murray, The complete guide to writing effective and award winning business proposals: step-by-step instructions (Ocala, Atlantic publishers, 2008), 235 Jean Murray, The complete guide to writing effective and award winning business proposals: step-by-step instructions (Ocala, Atlantic publishers, 2008), 235 Mary Khackstedt and Laura Haney, the interior design business book (New York, Van Nostrand Reinhold, 2012) 112 Tom Sant, Persuasive business proposals: writing to win more customers, clients, and contracts (New York, Amacom, 2012), 23 Read More