Business Plan: Lacey Couture Designs
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Business Plan: Lacey Couture Designs Business Plan: Lacey Couture Designs Document Transcript

  • Lacey Couture Designs Business Plan 21 July 2013 Copy A.1 Disclaimer of Confidentiality This document is for information only and is not an offering for sale of any securities of the company. Information disclosed herein should be considered proprietary and confidential. The document is the property of the Lacey Couture Company and may not be disclosed, distributed, or reproduced without the express written permission of the Lacey Couture Company. Contact Lori Tantawi 2554 Holiday Dr., New Orleans, LA 70131 544-253-8790 lori.tantawi@yahoo.com
  • 2 MISSION STATEMENT “Lacey Couture Designs is a company that is focused on providing one of a kind, special event jewelry and accessories. Our couture jewelry and accessories are never duplicated and are competitively priced with off the shelf costume jewelry. Every piece is a handmade work of art designed and constructed with exceptional care and quality. We are trendsetters, and we present styles that are flashy, creative, and unique and attention grabbing. Our company aims to become a regionally recognized brand name, capitalizing on the sustained interest in trendy fashion jewelry and accessories. Our goal is moderate growth, annual profitability, and maintaining their uniqueness and style.” Lori Tantawi President, Manager and Designer of Lacey Couture Designs TABLE OF CONTENTS
  • 3 Company Description pg. 6 Industry Analysis and Trends pg. 9 The Target Market pg. 13 The Competition pg. 16 Marketing Plan and Strategy pg. 21 Operations and Management pg. 25 The Financials pg. 33 Appendix A: Finance Charts pg. 35 Appendix B: Technology Plan pg. 40 Appendix C: Product Photographs pg. 41 Appendix D: Market Research pg. 45 Lacey Couture Designs View slide
  • 4 Handmade Couture Fashion Jewelry Quick Facts Seeking: $9,000 in equity financing. Company Profile: Costume/Fashion Jewelry sector with 1 employee and organized on 1FEB2013 Contact Information: www.laceycouturedesigns.com; Lori Tantawi 2554 Holiday Dr., New Orleans, LA 70131; 544-256-7856, lori.tantawi@yahoo.com Investment Information: current funding is $4,000 from principle. Seeking $9,000 in equity. ROI of 50% a year Management: Lori Tantawi, mentored by Anthony Patton, MBA and advised by Perfecto Boudillo, owner Exagere’ Art Gallery and Furniture Boutique Key Financials: $9,000 is needed within the next 7 months. Start up cost is $5,600 Working capitol need is $3,000 Positive cash flow of $3,000 after first month of operation Profit potential $246,000 in 3 years Business Summary: We make handmade, trendy jewelry pieces that are never duplicated and that are competitively priced with off the shelf costume jewelry. I’m presenting an investment opportunity for the cost of $9,000. Customer Problem: Consumers want one of a kind statement jewelry pieces that provide glitz and glamour with out the big price tag. They want to be able to update their jewelry style with the new trends in an affordable way. Product: We provide affordable, never duplicated, handmade statement jewelry that can turn a 400% or more net profit per piece. Each jewelry piece takes approximately 3 hours to make, and cost about $30 in supplies. These pieces sell, on average for $250-$375 each. Management: Lori Tantawi is the manager and owner of Lacey Couture Designs. She’s an international model and jewelry designer, a artist, actress and self taught fashion designer. She’s a retired US Army CPT with a undergraduate degree from the United States Military Academy and a graduate degree in Entertainment Business from Full Sail University. She’s also a production assistant and event planner. Target Market: 21 to 34 year-old female tourist and locals that are employed and have a extreme interest in current fashion trends, and/or women involved in pageants, modeling, styling, that can commute by public transportation and/or has internet access, with a household income of $40,000-$120,000 per year, and visit, or reside in the greater New Orleans area. Sales/Marketing Strategy: The sales process consist of inside, outside on online sales. Inside sales will be generated through the Art Gallery and outside sales will be conducted through special events. We will also increase brand awareness of Lacey Couture Jewelry designs by implementing a digital marketing campaign that will entice customers to come to the Gallery, special events and visit the website and ultimately share information about the brand. Purchases are paid in full at the time View slide
  • 5 of purchase. The point of sale system will be online through PayPal, or in person with cash or credit card. Business Model: Once a jewelry piece has been made, the designer determines the sale price, and a image and description of the piece is added to the digital marketing campaign, and its inventoried and added to the Lacey Couture website, or to the Exagere’ Art Gallery store front for sale. All items purchased are wrapped in the signature Lacey Couture box. Purchases must be paid in full before the item is processed for shipping or taken out of the gallery. Competitors: Our direct competitor is African-American hair and beauty supply stores. There are over 150-beauty supply stores in the New Orleans area. The pieces are large and very flashy, and are purchased directly from a wholesale distributer and are sold at a high mark-up price. Our indirect competitor is websites such as Etsy.com. The site offers access to thousands of jewelry designers that sale their handmade pieces from carrying price ranges. Competitive Advantage: Our pieces are large, flashy and never duplicated. Each piece is packaged in high quality signature boxes that are signed by the designer at the time of purchase. We also offer a customization service and can also bead gowns and formal attire. Each purchase comes with a free program to repair jewelry that was bought within 3 months. The jewelry is sold in the historic district and is considered artwork, and therefore customers do not have to pay taxes on their purchases. We are also producing a reality TV show that will feature Lacey Couture jewelry. This show will air on Lifestyle and Bravo. In Dollars Year 1 Year 2 Year 3 Net Sales $154,948 $239,286 $392,889 Expenses w/COG $59,772 $61,472 $65,552 Profit Before Taxes $80,965 $141,803 $245,431 LACEY COUTURE DESIGNS
  • 6 COMPANY DESCRIPTION Lacey Couture Designs is a sole proprietorship that sells fashion Jewelry and accessories. The company is based in New Orleans, LA that provides couture jewelry and accessories. Business Concept In the glamorous world of fashion and beauty, women are constantly seeking ways to stay current with trends while standing out as an individual. Fashion jewelry trends change and grow along with the designer fashions that are being sent down the catwalk. There is a increasing demand to provide these designs at a affordable price. Lacey Couture Jewelry will meet this demand by providing custom jewelry designs that are never duplicated, affordable and trendy. What makes Lacey Couture Jewelry unique? We make one of kind pieces that are never duplicated and that are competitively priced with off the shelf costume jewelry. Every piece of jewelry is also a work of art and can’t be found anywhere else. All pieces are handmade with exceptional care and quality. Lacey Couture Jewelry will be available at Exagere’ Couture Art Gallery and Furniture Boutique and online at exagere.com. This gallery is located in the French Quarter in New Orleans, LA and will attract the cultured business travelers, tourists and middle to late aged professionals needed to support the jewelry sales. Lacey Couture Jewelry is already on sale and is continuously promoted through email mailings, special event invitations and target advertising to the surrounding hotels and venues. Products and Services Lacey Couture Designs is a jewelry making service that specializes in couture jewelry and accessories for special events. Our jewelry pieces are made with Swarovski element gemstones, beads and crystals. All the materials are hand selected for maximum shine and brilliance. Each piece sparkles and shines even in low lighting. We provide custom, non-duplicated jewelry and accessories for prom, weddings, pageants, formals ect. Lacey Couture also provides a consultation service that will allow customers to help design their own jewelry and/or accessories. The Lacey Couture Deigns line currently consists of 18 jewelry pieces. We anticipate releasing a new line consisting of 10 more pieces every month, starting next month. In the second year of this plan, we anticipate introducing a custom gown/garment beading service. Average Cost of Lacey Couture Designs Jewelry
  • 7 Only the larger pieces are sold on location in the Exagere’ Art Gallery. This is due to the fact they all pieces sold from the gallery are subject to a 40% consignment fee. The smaller pieces are sold online or by direct contact. Specialty pieces are also made that can range in cost from $300-$600. These pieces are larger and are designed for affluent older women, and are therefore also sold on location at Exagere’ Gallery. Patents and Licenses Lacey Couture will secure a trademark for the brand name, and a wholesaler license so that they can have access to the entire wholesaler network. Business Location Lacey Couture Designs operates out of the owners home office located at 2554 Holiday Dr., New Orleans, LA. Exagere’ Couture Furniture Boutique and Art Gallery is located at 227 Dauphine St, New Orleans, LA and serves the entire Orleans Parish area. Lacey Couture Designs are designed and produced at the owners home office and will be available for sale at Exagere’ Couture Furniture Boutique and Art Gallery and online. Developments to Date Lacey Couture Designs was founded in October 2012 by Lori Tantawi, and the company began designing and selling jewelry and accessories for Exagere’ Couture Furniture Boutique and Art Gallery in February 2013. In March 2013, Lacey Couture Designs owner and designer, Lori Tantawi, entered into a partnership with the Exagere’ gallery owner Perfecto’ Boudillo. The pieces were initially made for wearing in international pageants in 2012. In April 2013, Lacey Couture Designs were featured in a T.V. News broadcast and in a runway show that was produced in conjunction with CBS. The jewelry will also be featured in a new reality show called “Southern Couture” which is set to air on the Bravo and Lifestyle networks. The show is centered on the Exagere’ Gallery, and follows the life of the owner, Perfecto Boudillo and his partners. As of May 2013, Lacey Couture Designs has sold 8 pieces and turned a profit of 50%. Legal Status and Ownership unit price my cost gross margin per sale ear rings SM $48 $12 $36 Ear rings LRG $80 $24 $56 Necklace SM $140 $40 $100 Necklace LRG $200 $80 $120 E/N set SM $120 $32 $88 E/N set LRG $260 $100 $160 Bracelet- Cuff $80 $32 $48 Bracelet- other $48 $20 $28 Head Piece-chain $40 $12 $28 Hair jewelry-Pony T $60 $12 $48 TOTALS per collection $1,076 $364 $712
  • 8 Lacey Couture Designs, will be a sole proprietorship in the state of Louisiana, licensed to do business in Orleans Parish, Louisiana. The owner, Lori Tantawi, owns 100% of the business. The company will secure a U.S. trademark to the name “Lacey Couture,” which will be used on its logo, “Lacey Couture Custom Designs”. Lacey Couture Designs has entered into a one-year, non-exclusive consignment agreement with Exagere’ Couture Furniture Gallery and Art Boutique, the largest gallery servicing the French Quarter and greater New Orleans area. Lacey Couture is willing to offer 20% ownership to investors. Legal Name: Lacey Couture DBA: Lacey Couture Designs Brand name “Lacey Couture Custom Designs” Domain name: www.laceycouturedesigns.com Financial Concerns The overhead cost associated with the business is very small and credit has already been established. The main financial concern is that the profit margin might have to decrease in order to build up a local customer base and become more competitive. This concern is small due to the fact that profit margin is mostly based upon tourist and local events. Also the clientele that’s exposed to the jewelry in the Exagere’ gallery are from high-end hotels such as the Ritz Carlton and represent a higher income bracket. The amount of debt that will be carried will be about $2000 dollars. This is controlled through effective use of current inventory. INDUSTRY ANALYSIS & TRENDS
  • 9 Lacey Couture Designs is well positioned to take advantage of the significant opportunities presented by the expanding costume jewelry industry. As large statement pieces become trendier, Lacey Couture has been able to take advantage of this trend by offering better-designed and more affordable pieces. With the low cost of materials and the proper design knowledge, Lacey Couture has been able to create a solid place for custom made, non-duplicated, trendy jewelry. Economic changes have caused consumers to choose more affordable costume jewelry over the highly priced “real thing”. According to city-data.com, the median household income in New Orleans, LA is $43, 362. With a lower median household, Lace Couture can capitalize on the need for affordable jewelry. Lacey Couture is posed to position itself as a competitor within the local, and regional marketplace as a provider of statement, gemstone jewelry. According to the U.S. Census Bureau, Lacey Couture falls into NAICS 448150: Clothing Accessories Store Compared to the 2008-2012 US GDP growth rate of 1.7, the costume jewelry industry is growing significantly. This is due to an increasing need for more affordable jewelry as consumers are cutting back on spending. Industry Maturity The jewelry market is currently expanding and this growth rate is giving many business owners the opportunity to offer lower priced products in a market where luxury items normally dominate. The risk associated with this is a potential flooding of the market of low-end retailers that offer low prices, but decrease the overall value of the product. Lacey Couture will mitigate this by offering exceptional, consistent high quality products. Current market leaders such as chain retail stores and major department stores are expanding their fashion jewelry departments, however these areas are very large and they often carry pieces months behind the current trends. In this growing market Lacey Couture will establish itself as fashion jewelry provider that always provides trendy, flashy, high quality pieces at bargain prices. Our products range from jewelry and accessories and will have the opportunity to grow to fashion apparel and custom beading and embellishments. Long-term customer loyalty will be maintained through a continuous marketing campaign and customer rewards program. The foundation of our loyalty program will be customer service and product quality. Within the regional market, Lacey Couture’s largest competitors are: Rainbow Fashion and Accessories, located on Canal St, New Orleans, LA (www.rainbowshops.com) Assessory Wholesale, located on River Rd, New Orleans, LA (www.awnol.com)
  • 10 Antiques, Arts, Collectables, located on Royal St, New Orleans, LA (http://www.antiquesartcollectibles.com) Costumes, Carl Mack Presents, located on Dauphine St, New Orleans, LA (www.carlmackpresents.com) Financial Patterns and Figures Currently, retail stores and major department stores are selling small costume jewelry pieces at very high markup rates. Stores such as Macy’s and Charlotte Rouse sell jewelry for $15-$30+, however the same items can be purchased in bulk from a wholesaler for $.20-$2.00 per piece (minimum purchase of 6 items required). Lacey Couture Designs buys the items in bulk, a uses them to re-create bigger, flashier pieces. Competitive Advantage Lacey Couture Jewelry Designs are located at the Exagere’ Art Gallery. Exagere’ is over 13,000 square feet of multi level space located in the heart of the French Quarter. We are one block from Bourbon Street and a few hundred feet from the Ritz Carlton and other prestigious hotel. With in feet from our door we have covered valet parking and a public parking garage. The gallery hosts the only VIP nightclub venue that caters to celebrities, athletes and VIPs. With exclusive contact list containing celebrities, local athletes, we have access to high profile events and clientele. The gallery also host events that incorporate fashion, art, music and theater and draw crowds of thousands of people. A reality show called “Southern Couture” is currently in production and centers around events conducted at the gallery. This show is set to air on Lifetime and Bravo and will feature the artwork, designers and owners of the gallery. The website list every artist that is featured in the gallery as well as a bio and picture. Customers can also arrange VIP visits ad special showings. Every service offered by the gallery is listed on the site, as well as pictures from past events and celebrations. All of our artwork and designs are one of a kind and prints and duplicates are not made. Since we are located in the historic district, our customers don’t pay taxes on the items they purchase from the gallery. Industry Overview Real Jewelry 2009 10% decline 2010 2% growth 2011 10% growth 2012 6% growth 2012-2017 11% projected growth Costume Jewelry 2012- 2017 4% projected growth
  • 11 The overall jewelry market is fragmented in that no single company controls more than 5% of the costume jewelry market. Major competitors in the US costume jewelry market make up 21% and the other 79% is made up of small independent, jewelry only retail stores. The costume jewelry market is ruled mainly by current trends. Trends are constantly changing and a specific style that’s “in” today, might not be “in” the next day. This, along with the desire to remain trendy on a budget, has caused consumers to spend disposable income more wisely. In comparison with real jewelry styles, costume jewelry is relatively cheap, and therefore appeals to younger consumers. Flashy statement pieces, retro designs and glamour pieces are also in high demand. Also used for special events such as weddings, proms, balls and pageants, costume jewelry is in high demand. Sold year round, faux pearls, rhinestones and statement pieces are in demand. Well-made costume jewelry allows consumers to purchase on a budget and remain up-to-date with all the latest trends. Costume jewelry is sold off-the-shelf in all major retail stores such as Charlotte Rouse, Forever 21, Wal-Mart, and Target. Since fashion jewelry is in such high demand, major retail stores such as Bloomingdale, Macy’s and Dillard’s are displaying more costume jewelry. Barriers to Entry There are numerous clothing and accessories stores located within blocks of the art gallery. Not only do these stores target part of my target market, but they also have the advantage of selling clothing. The convenience of getting accessories along with an outfit in one location is a advantage. These stores are also well established and have multiple chain locations throughout the area. Canal St is located two blocks away from the art gallery and is a tourism attraction for shopping. Long-Term Opportunities The long-term goal for Lacey Couture is to establish a consignment relationship with some well-known retail stores. Through this relationship, Lacey Couture can offer a custom line of jewelry for each store. These pieces would not be as flashy or as big as the pieces offered in the art gallery, but they will still be designed with the same care and quality materials. This will allow Lacey Couture to target younger consumers in the age group of 16-21. Affordable and still trendy, these pieces will appeal to younger girls. Lacey Couture would also like to establish a relationship with local costume store operators. Located next door to the art gallery, Carl Mack Presents offers Mardi Gras Costumes and other special event/parade costumes. All of these costumes are beaded and embellished. Since Lacey Couture plans to start offering a gown beading service, it would be a great opportunity to do this in conjunction with Carl Mack Costumes. This would increase exposure for the Lacey Couture brand.
  • 12 Lacey Couture will capitalize on the need for trendy jewelry by making flashy statement pieces and trendy styles that are displayed in an artistic way and are never duplicated. Each piece will be made using hand selected gems, stones, crystals and hardware. These items will be competitively priced with off-the-shelf jewelry that is found in retail fashion stores and major department stores.
  • 13 TARGET MARKET DESCRIPTION Market Description The costume jewelry market has continued to show growth over the past few years. According to a report on jewelry industry trends, the jewelry market is expected to see a 4% growth over the next 5 years. This market is a direct result of the economic downturn and the affect it has made on consumer spending. We plan to dominate the market by providing trendy couture costume jewelry at reasonable prices and by offering the latest trends before our competitors. We will offer designer costume jewelry and therefore target a large segment of the industry. We plan to increase brand awareness in New Orleans, LA and saturate the market by offering major discounts for local events and by gifting pieces to local socialites, professional athletes, VIPs and celebrities. A big part of our target market is tourism to the French Quarter. According to a report by “What’s New in New Orleans”, over US $9 million tourist visits New Orleans yearly. Also, over 100 events are held at Ernst E Memorial convention center yearly. According to a report about the 25th Anniversary of the convention center, the center is the 6th largest in the nation, has an economic impact of $48.1 billion, and over 500,000 attendees come to the convention center yearly. Market Size and Trends The costume jewelry industry has seen continuous growth since 2005 and is projected to continue to grow over the next ten years. The trends of costume jewelry closely mirror the fashion trends as well as what celebrities are wearing. In New Orleans, we have year round festivals and parties that are extravagant and rely upon costumes and over the top accessories and clothing. Mardi Gras, and the French Quarter Festival are both one the biggest festivals held in the US and draw in millions of tourist yearly. Formal parties and balls are also held on a continuous basis and require formal attire complete with jewelry and accessories. These festivals offer a great opportunity for us to provide tourists and locals with fashion accessories to go along with their costumes and event attire.
  • 14 The urban modeling market, and the pageant, prom and wedding industry will also be a part of our target. Miss USA (Teen, Mrs., Classic) along with Miss Swimsuit USA and various independent beauty pageants hold contest in New Orleans. These industries rely heavily upon costume jewelry and accessories. The prom, pageant and wedding industries are worth over US $4 billion. Urban modeling, or glamour modeling, is also heavily reliant upon current fashion jewelry. These pieces are very large, unique and flashy. Target Customers 21 to 34 year-old female tourist and locals that are employed and have a extreme interest in current fashion trends, and/or women involved in pageants, modeling, styling, that can commute by public transportation and/or has internet access, with a household income of $40,000-$120,000 per year, and visit, or reside in the greater New Orleans area. Education level: some college Marital or family status: single or married Fashion forward Trend Setters Age: 24-34, and 18-25 Gender: female Race: All, with a special focus on African Americans Income: $40,000-$120,000 Target Market: The primary target audience is females aged 24-35. The audience is educated young adults with or without children. Alexa analytics of the popular jewelry website Etsy.com show that the majority of traffic is from 24-35 year old women, who have some college education, while they are at home. According to the report “Women- Retail Study”, the second largest group accessed jewelry sites while at work. 49% of this online shopping was done on Fridays between the hours of 11am to 2pm.These young professional women are likely to be more financially stable and have time and the resources to devote time to staying current in trends. Secondary Market: 18-25 year-old females, with little to no college experience is the secondary market. 75% of this target market shop online while they are at work, in order to pass the time. 18-25 year-old females are also the second largest group that represents site traffic of the competitor’s sites. By targeting both these audiences I can get an advantage by making sure my jewelry appeal to them. Since the majority of shopping is done at work and out of boredom, I will make sure that the ads are exciting, compelling and offer great deals. The site is also user friendly so it will allow the typical woman the 15-20 minutes she will need in order to shop. Due to the fact that all of my jewelry designs are not duplicated, on the spot decisions will have to be made, or the buyer will miss out. I can target the
  • 15 market by offer great deals on new items that will spur a quick purchase. Market Readiness According to The Country Report on jewelry, the costume jewelry market is expected to grow 4% over the next five years. Major department stores such as Dillards and Macys have expanded their costume jewelry lines in order to meet the new demand. Mall kiosks that specialize in costume jewelry have also increased. The New Orleans area is comprised of designers and stylist that are fashion forward and trendsetters. According to the New Orleans Event Guide, there are over 65 regularly scheduled formal events and balls in New Orleans. Also New Orleans is the home of two professional sports teams, The New Orleans Saints and the New Orleans Pelicans. These arenas are also regularly scheduled tour stops for major recording artist. The city also host after parties and social events that require Strategic Opportunities Fashion forward women are always looking for the next trend and want to be the first to showcase it. They need styles that are affordable and flashy. They want to stand out and be able to coordinate their own unique look. Being the only person to own an outfit or assessor is extremely important and Lacey Couture can meet that need. Specialty shops that offer flashy pieces are straight from the manufacturer and are not current with trends. Lacey Couture will be able to hand make flashy pieces that are current and unique. Furthermore we will stay ahead of current trends by offering pieces that appeal to upcoming formals, parties and urban modeling events in the New Orleans area. Through our extensive list of high-end contacts, celebrities and VIPs, we will be able to create brand awareness and get our jewelry pieces exposure. Since Lacey Couture is also a minority partner with Exagere’ Art Gallery, we will be part of the planning process for all events and projects that the gallery produces. This will give us first hand access to the affluent women that the gallery markets to.
  • 16 COMPETITION Competition Plan The jewelry industry is a highly segmented industry. No single company dominates the revenue production. The U.S. retail jewelry industries consist of over 28,000 specialty stores, and they annually generate revenue of approximately US $30 billion. The main competitors in this Landscape are major retail stores such as Macy, and Dillard’s and specialty retail stores such as Rainbow, hair supply stores and jewelry kiosks. These retailers are trying to market towards the consumers with less disposable income. The economic situation has caused shoppers to favor trendy costume jewelry instead of real jewelry. Since trends change rapidly, this allows the consumer to keep up with the current styles in a affordable way. Lacey Couture is differentiating ourselves because we are able to quickly adapt to new trends and we offer statement pieces that are better designed, higher quality and are unique. We also offer customization services that will allow the customer to direct specific design elements of their jewelry piece. Key Competitors Our key competitors are online sites that sell handmade jewelry, mall kiosks, African American hair supply stores and major retail stores. Online stores, such as Etsy.com have grown in popularity and allow designers and shoppers to buy and sell handmade jewelry. The pieces range from small to very grand and intricate. Vintage items are also available on the site. It’s free to signup on the site and anyone wishing to sell his or her items pay a very small fee per piece sold. Retail stores are located in every mall in the greater New Orleans area. They offer trendy jewelry at very reasonable prices. They are also well known and established in the industry and are composed of national stores such as Macys and Dillard’s. These retailers offer smaller statement jewelry pieces and a few larger pieces made with genuine stones. The jewelry kiosks offer larger statement pieces that major retailers don’t sell. These pieces are flashy and designed for wearing with formal wear. Hair supply stores also offer flashy statement pieces. Their pieces are usually displayed and lighted properly and they showcase one piece at a time. According the Businessfinder.com, New Orleans has over 200 hair and beauty supply stores. These
  • 17 stores are conveniently located throughout neighborhoods and in shopping areas. Their pieces are priced affordably and they also offer other matching accessories such as gloves, purses and shoes. Designed for formal wear, or urban wear, their pieces are trendy and flashy. Other Competitors Our weaker competitors consist of “teeny bopper” stores such as Charlotte Rouse, Forever 21 and Rainbow. These stores offer trendy jewelry pieces, however they are very small and they are sold in bulk. They are very inexpensive, however they are not designed for wearing with formal attire. They are also only marketed towards young girls and young adults. Lacey Couture jewelry is marketed towards affluent females and females in the urban modeling industry. Our target market wears flashy statement pieces that are large and unique. Competitive Positions (listed highest to lowest) African american hair supply stores- Strengths: Well known throughout the African American community, there are over 150-beauty supply stores in the New Orleans area. They are often located in rural neighborhoods next to convenience stores and gas stations. They feature unique jewelry pieces that are designed for urban culture and special event jewelry. The pieces are large and very flashy, and are purchased directly from a wholesale distributer and are sold at a high mark-up price. Weaknesses: The pieces are bought in bulk, so there is no uniqueness. Also the pieces are duplicated and well-liked designs saturate the market easily making them loose their appeal to the trendier buyer. The quality of the pieces can be low and they are easily subject to breaking and often utilize cheap materials. Etsy.com- Strengths: This site allows you to buy and sell vintage and handmade items. It’s easy to use and membership is free. You can browse categories from children’s jewelry, to special event jewelry. The site offers access to thousands of jewelry designers that sale their handmade pieces from carrying price ranges. Weaknesses: The overall design of the site does not allude to the different styles of jewelry and merchandise that’s available. Also, the pieces featured on the homepage are from multiple designers that have the same design aesthetic. Therefore, a buyer won’t be sure that they can find the type of piece they are looking for when they first visit the site. Also, as a designer you have to consider the fact that there are thousands of others selling from the same webpage and that your designs can be lost or not found as easily as others. Mall Kiosks- Strengths: They are located within in all major shopping malls in the greater New Orleans area and they showcase jewelry in a manner that draws attention to the consumer. They feature large pageant and special event jewelry as well as body jewelry. Their pieces are unique and fairly priced. The pieces are bought in bulk from a wholesaler and are marked up to 300%. They are easy to keep in stock and
  • 18 have low operating cost. They have access to my entire target market, and get exposure to all shoppers due to their convenient location. Weaknesses: Due to the fact that they are kiosks, they can loose the appeal of the more affluent shopper. While the kiosk are well lit and organized, they can make their pieces seem low-end to the consumer that wants to buy high quality couture jewelry. They are also limited in display space and can have a hard time making a consumer feel comfortable during their shopping experience. Major Retailers- Strengths: they sell both real and costume jewelry, and can conveniently present a different option for a shopper that can’t afford a real piece. They also offer large costume jewelry pieces that are made with high quality cubic zirconia and other emerging lab techniques for simulated precious stones. They carry large amounts of costume jewelry and the sections are organized in terms of color, making it easy for the consumer to find for what they are looking for. These retail stores are already internationally known and have extreme market exposure for all their different departments. Due to this, they offer convenient, one stop shopping for the consumer and can give a consumer the ability to buy a dress, shoes, handbag and jewelry all in one place. The affluent shopper might associate their costume jewelry to be that o higher quality due to the fact that’s its being sold in the same location as real jewelry. Weaknesses: These major retailers have only recently expanded their costume jewelry sections. Also the sections are usually poorly maintained, and the pieces are often tangled, broken or put in a “discount” pile. The pieces are also relatively still expensive and are sold at 400% or higher markup. Major retailers are often two months behind the current trend and carry pieces that are overpriced. “Teeny Bopper” stores- Strengths: They offer the current trends in clothing and accessories. The jewelry pieces are small, yet trendy and fairly inexpensive. In one store, you can buy a trendy outfit, shoes and jewelry and accessories. The stores are also internationally known and are located in major tourist areas such as Canal St. Weaknesses: They cater and market towards young girls, and therefore do not appeal to the affluent older woman. They also offer pieces that are smaller and repetitive. While fairly priced, the pieces loose their uniqueness due to over saturation in the market and their ease of availability throughout different retailers. They offer limited to no special event jewelry, and can be slow with updating current jewelry inventory. Advantages over Competition The Lacey Couture brand personality is high-end couture fashion. It’s designed for affluent and trendy women from the ages of 24-35. It appeals the beauty queens and the every day women. Lacey Couture designs are all about being sparkly, and over the top. Each piece makes a statement and is designed for the quiet confident woman that carries a prestigious presence everywhere she goes. The competitor’s image is not as high class or creative. Their image is a direct copy of current trends
  • 19 and doesn’t take them to the next level by creating a new trend within the trend. Simplistic and basic, the competitor’s image does not meet the high standards of class that Lacey Couture Jewelry designs do. Lacey Couture has several specific advantages over our competition. Some of our key advantages are:  Our designs are located throughout a 13,000 square foot Couture Art Gallery located in the heart of the French Quarter.  Lacey Couture jewelry is exposed to high-end Gallery clientele through exclusive gallery parties and events held for celebrities, professional athletes and VIPs.  Our pieces are never duplicated and are wrapped in high quality signature boxes that are signed by the designer at the time of purchase.  Our pieces are always up to date with current trends.  We offer a customization service and can also bead gowns and formal attire.  We also offer a free program to repair jewelry that was bought within 3 months.  The jewelry is sold in the historic district and is considered artwork. Therefore customers do not have to pay taxes on their purchases.  We are producing a reality TV show that will feature Lacey Couture jewelry. This show will air on Lifestyle and Bravo.  Lacey Couture designs large, flashy formal event jewelry that is never duplicated  Our designs are made by a international model and artist that has over 15 years of experience with fashion, design, jewelry making and the modeling and fashion industry  We offer the shopping convenience of a online store and a physical store front Future Competition and Their Barriers to Entry The costume jewelry industry is continuing to grow as independent jewelry makers start making their designs available through Facebook, websites, blogs and through booths set up at numerous events. These designers are picking up on current trends such as beaded bracelets and horizontal crucifixes, and making small trinket sized jewelry. These businesses are gaining access into the jewelry industry, however due to their design esthetic, they are competing with major brands such as Charlotte rouse, Forever 21 and Rainbow. These major retails stores are operating successfully throughout the entire greater New Orleans area. According to store locator services, there are over 15 of these locations within a 30-mile radius of New Orleans, and their designs are focused on the same trends that small independent designers are.
  • 20 The barriers to entry these new businesses will face is getting brand awareness and setting themselves apart from the major stores that offer the same product and a bigger selection. Future competitors will need to stay ahead of trends and offer designs and services that aren’t available in these stores. They will need have a artistic and unique space in order to properly display their items. They will also need to gain access to celebrities, professional athletes and the modeling and fashion design industry. They also must find a designer that is able to make intricate designs composed of several elements and made utilizing varying techniques. Jewelry and accessories is all about fashion and trends, and as long as a competitor is able to offer something unique and trendy in a convenient way, there is a place for them in the costume jewelry market. Strategic Opportunities Lacey Couture will capitalize on the competitors weaknesses by staying ahead of current trends, marketing our products to appeal to affluent women, keeping the jewelry well-displayed and properly lighted, keeping the pieces unique and using the highest quality materials and best construction techniques. We will also offer a free repair service for jewelry purchased with-in three months and also provide our customers with exclusive event invites if they wear their Lacey Couture design to the event. Our jewelry combines the demand for designer jewelry with the need for fashion/ costume jewelry. Both these industries are the largest in the jewelry industry. According to Fashion Overview, designer and costume jewelry makeup the majority of the jewelry market.
  • 21 MARKETING PLAN AND STRATEGY Marketing Plan Lacey Couture is owned and operated by a retired US Army Disabled Campaign Veteran. We meet our customer needs by providing a high-end couture version of current trendy and flashy jewelry. Our pieces are priced competitively and we offer a loyalty rewards program that gives special discounts to repeat customers. We will also offer shopping on-line with same day shipping, as well as a free option for store delivery. We also offer free jewelry repairs for items bought within 3 months. Our message: “Embrace Yourself” The Lacey Couture brand personality is high-end couture fashion. It’s designed for affluent and trendy women from the ages of 24-35. It appeals the beauty queens and the every day women. Lacey Couture designs are all about being sparkly, and over the top. Each piece makes a statement and is designed by hand. Unique Position in Market We will offer personalized services to our customers so that they can design their own pieces. We will also demonstrate our extensive knowledge of current trends by offering advice on how to wear the pieces and coordinate them with clothing. We can make pieces with a one-day turn around and make specialized events for local festivals and events. We will also offer services to local designers, and models in order to increase the overall image of their brands. We will also provide pieces for fashion shows, photo shoots, music videos and special events in order to add elegance and art to these events. We will also work closely with the community and local charities in order to create opportunities for under privileged children in the greater New Orleans area. Marketing Plan Objective Statement: Increase brand awareness of Lacey Couture Jewelry designs by implementing a digital marketing campaign that will entice customers to come to the store and share information about the brand. The broad idea of the marketing plan is it to make locals and tourist know that they can get quality couture jewelry at affordable prices in the French Quarter. I want to make customers aware that I offer statement pieces that are designed for every season and occasion and that nothing is every duplicated. I further want to convey the message that every piece is a work of art and is affordable on almost any budget. Channels Selected Social Media Digital Promotion/PR Digital Advertising Email Marketing
  • 22 Press Release: Lacey Couture will host/take part in at least one special event per month during the campaign. For each of these events a press release will be made. News/T.V.: Lacey Couture will attempt to feature special interest news stories relating to special events and fundraisers though out the campaign. Lacey Couture will take part in at least one event per month and will pitch a special interest news story to the local channels. Free Gifts: Lacey Couture will give 2 free gifts away to local fashion and industry socialites in order to increase brand awareness and gain exposure. Digital display advertising: Lacey Couture will place digital ads on three different targeted websites. These ads will run during the peak shopping time for the targeted consumer group. Customers will have the option to join the email subscriber list once they click on an ad. This will increase the chance of this person becoming a repeat customer. Social Media advertising: Facebook and Pinterest will be used for the social media campaign. Facebook will provide advertising that is specific to the target audience for Lacey Couture jewelry. Facebook will allow Lacey Couture to advertise to the primary and secondary target audiences, 18-35 year-old females, during a the time when they are on-line, which is Fridays from 11am to 2pm. Pinterest will be used to further brand awareness due to its increasing popularity and the volume of consumers that utilize the network that are interested in jewelry. According to Pinterest.com, 79% of the users on Pinterest are female. Pinterest now allows businesses the options to create accounts instead of personal profiles. This will allow Lacey Couture the ability to include “Pin It” buttons on webpages and use the brand logo as an avatar. For Pinterest, Lacey Couture will feature all the current jewelry designs and list the price. Including the price increases “Likes” by an average 36%. This platform will also allow Lacey Couture to provide company information and the ability to follow the interest of other consumers that are searching for jewelry. The friends and family members currently following the Lacey Couture Brand will be engaged through direct communication via email, in person and through general invites. In order to attract new followers, Lacey Couture will widen its current network by reaching out to other models, designers and artist. The brand will also keep the content on the social media pages new by engaging consumers and posting pictures of events. Care will be taken to ensure that pictures are properly tagged and captioned so that consumers can share them more easily. QR Code cards: Lacey Couture will host/take part in at least one special event per month during the campaign. For each of these events, QR code cards will be handed out to the attendees. The cards will also be handed out on a daily basis as the owner
  • 23 socializes and makes business connections. 50 cards will be handed out a month, for a total of 3,000 cards. Emails: Email marketing will be used to increase brand awareness amongst consumers and increase jewelry sales. The emails will provide discounts and special deals as well as reward customers that refer people to the brand. The email marketing list will be developed by giving consumers the option to join the list after a purchase, on the website, in person at special functions and on digital ads. Business cards with the Lacey Couture logo will also have QR codes that will allow consumers to join the mailing list. Once a recipient receives the marketing email, they will be prompted to view a gallery of current jewelry that is available, as well as current discounts. The landing page will showcase current and past designs and inform the consumers about the brand. It will show consumers past community events the brand has taken part in and give them the opportunity to connect with the brand through social media websites. The content will be tailored, entertaining and non-clutter. This will increase the effectiveness of the overall strategy. Lacey Couture will send out two emails per month for a total of 12 emails for the campaign. The emails will have information about the current months special event, sales and promotions, as well as give the reader information about press releases and upcoming events. As the campaign progresses, the subscriber list will grow and sales that result from the email list will increase. Lacey Couture will set aside an initial marketing budget of $5,000 for each year. This will allow us to run a yearlong campaign that will focus on key events and major national holidays. Sales Strategy As a new business, Lacey Couture will have to prove its worth in order to gain and maintain customers. We must sell our products and our Company to our target market. We will approach sales from a salesperson-customer relationship basis. All sales personnel will be respectable, engaging and knowledgeable. We will gather key customer information and encourage customer feedback. Since Lacey Couture is currently being sold at Exagere’ Art Gallery and Boutique, the sales force will consist of the Art gallery owner, the gallery curator and jewelry designer. The gallery owner and curator are currently trained on fashion and jewelry trends. They are also kept up to date with new Lacey Couture designs and are given proper information on each piece in order to encourage sales. Each piece is logged into the inventory at the art gallery and has a detailed description of the item along with the materials used to make it. Instruction is also given on how to put the pieces on and care for them.
  • 24 The sales process consist of inside, outside on online sales. Inside sales will be generated through the Art Gallery and outside sales will be conducted through special events. The designer, art gallery owner and gallery curator will attend regular exclusive social events and functions throughout the greater New Orleans area. For these occasions, personnel will wear a piece of Lacey Couture jewelry and carry business cards. Anyone interested in the jewelry being currently worn or at the Gallery can come by to make purchases. Jewelry will also be available online through the exagere.com website. Purchases are paid in full at the time of purchase. The point of sale system will be online through PayPal, or in person with cash or credit card.
  • 25 OPERATIONS AND MANAGEMENT Overview of Company Operations Our products are created at the home office of the owner of Lacey Couture. Once a month, items such as beads, jewelry, stones, wire, and jewelry displays are resourced and collected at the home office. These items are bought based upon the current trends, as well as any upcoming events and/or holidays. All materials are inventoried at the home office and stored there. Each item is individually designed and created by hand. Elements are bonded with industrial adhesives and specialty wire to ensure longevity of the piece. During the final stages, each piece is worn in order to ensure ease of use and overall comfort. Each piece is also paired with an outfit in order to determine the best style elements for each piece. This information is then relayed to the curator and jewelry owner so that they can advise customers on how to properly wear and style their jewelry pieces. One to two jewelry pieces are made per day and are put on jewelry displays in order to be sure they don’t get damaged. After four or more pieces have been made, the designer will then transport the pieces 5 miles to Exagere’ Art Gallery. At this point the owner, or the gallery curator, will inventory the pieces to include the name, general description, and price. Once the pieces are signed in, they will be put on display but the curator or the owner and available for sale. Once a customer buys a piece of jewelry, a sales receipt is made and the item is updated on the log sheet. After 21 days of the final sale, 80% of the sale price is given to the designer by check or money order. All of our pieces are packaged in a signature box, which includes a felt finished jewelry display board, a Lacey Couture business card, information on free repairs and an autograph from the designer. All packaging materials are the signature Lacey Couture colors, brown, pink and gold. For online purchases, our pieces are packaged in the same signature box, which includes a felt finished jewelry display board, a Lacey Couture business card, information on free repairs and an autograph from the designer. All packaging materials are the signature Lacey Couture colors, brown, pink and gold. The packages are sent through the Lacey Couture FEDEX business account and can be mailed according to the time line the customer needs. Pieces placed on the Lacey Couture website are not subject to any consignment fee. Once four or more pieces are made, they will be photographed on a plain display model and on a fully styled mannequin. Photoshop will be used to edit the pictures and then they will be uploaded to the website. Labor/Variable We currently do not require any employees in order to make the jewelry pieces. Each piece is designed and constructed by the designer and owner or Lacey Couture Productivity The rate of productivity varies between the size and types of pieces that are being made.
  • 26 Based upon this custom ratio, you can see that it’s more profitable to spend more time producing small trendy jewelry sets. These sets are sold online and therefore are not subject to the 20% consignment fee that the larger sets are, therefore the time it takes to make one of these sets is worth $78 an hour. These sets also sell faster than the other sets. The formal pieces can take longer to make, but the time it takes to do it is worth more than the time to make a large trendy jewelry piece. Depending upon the month, different consumers are targeted. For example, during Mardi Gras, (last week of January through the third in February) we will be targeting tourist and locals that are participating in balls and parades. Therefore, there will be a higher demand for large formal pieces and the sale of the trendy jewelry pieces will decline. Quality Control Each item is individually designed and created by hand. Elements are bonded with industrial adhesives and specialty wire to ensure longevity of the piece. During the final stages, each piece is worn in order to ensure ease of use and overall comfort. The designer will wear the piece and conduct normal activities such as driving, putting on a jacket, bending over, etc., that is reasonably expected activity of the consumer while wearing. Any problems that occur with the piece are then fixed in order to ensure that the piece is able to withstand the normal movements that the customer would make. All of our pieces are packaged in a signature box, which includes a felt finished jewelry display board, a Lacey Couture business card, and information on free repairs. The display board is to ensure that the customer can store their piece in a way that won’t damage it, and so that they can enjoy their piece as a work of art when they are not wearing it. Suppliers The purchasing decisions are made by the designer and are influenced through current sales and feedback from the gallery curator, gallery owner and customers. Jewelry making accessories, along with beads, pre-made jewelry pieces, crystals, clasps, wire and adhesives are the key materials necessary to produce the jewelry. The average cost of a month’s supply of these goods is $250. One month’s supply can produce over 15 jewelry pieces, with enough materials left over to contribute to future pieces. The sources of these goods come from the following: Michaels Craft Store Wal-Mart Craft section Burlington Coat Factory Jewelry Section Genie’s Hair and Beauty Supply Store Fire Mountain Beads Online Store Product Unit Price Cost Gross Margin Per Sale ProductionGross Margin per hour of production AVG sales LRG Formal E/N sets $350 $45 $280 5 hrs $56 1/month SM Formal E/N sets $200 $35 $165 3 hrs $55 4/month LRG Trendy E/N sets $250 $30 $120 3 hrs $40 3/month SM Trendy E/N sets $175 $20 $155 2 hrs $78 4/month
  • 27 7 different wholesalers through online stores. (Protected list) All the suppliers, to include the wholesalers have been tested and are reliable with shipping and returns. Many of the good are offered on multiple wholesale sites, so if one site runs out, there is at least one more back up site, which might have the item in stock. On-demand or short notice goods are difficult to obtain due to shipping and handling, however short notice goods can be bought from Wal-Mart, Michaels and other craft stores. The wholesale suppliers require that the items be bought in bulk. For example, instead of buying one necklace for $0.20, you have to buy the pack of six for $1.20. There is no minimum cost associated with buying materials from any of the wholesalers. Suppliers are chosen for the uniqueness of their collections, quality, shipping and customer service, as well as the size of their store. Order Fulfillment and Customer service Orders are processed online through the designer, or at the Exagere’ Art gallery by the designer, curator or gallery owner. Items purchased at the gallery must be paid in full at the time of purchase, as well items purchased on-line. Orders are packaged in a signature box, surrounded by tissue paper and the custom Lacey Couture initials. Inside the box is a jewelry display stand, care instructions, 3 month free repair service information and a Lacey Couture business card. Items that need to be shipped are prepared the same way, except the piece is encased in bubble wrap inside of the signature box, and secured in a mailing box via Fed Ex. The customer pays for all shipping cost. The service program allows a customer to have piece repaired within 3 months of the purchase date for free. This one time service will repair any damage due to normal wear and tear, or settling of the elements of the piece. Since each piece is very intricate, Lacey Couture understands that some elements could become loose. Therefore we offer this service to ensure that our customers stay happy and because we stand behind the quality of our pieces. Any repairs needed after the 3 month time frame will only require the customer to pay shipping and a small repair fee ranging from $10-$30. All items are final sale, except is the piece arrives damaged (if the piece is shipped) or if the piece has a major malfunction that is not a result of negligence from the consumer. Exchanges can be made for purchased made within 7 days. Currently, Lacey Couture has sold nine pieces and has not had a compliant, return or any required repairs. Efficiencies Since the owner will be making and selling the jewelry. It's important that time is spent efficiently. For the first 4 years, I don't plan to hire any additional help. Therefore I need to make sure the jewelry I'm making is worth the time it takes to make it. In other words, 2 hours spent making a unit that only generates a net sale of $15 is not as good as spending that same amount of time making a unit that generates net sale of $40. This is a fine line, because I have to be sure that I can sell
  • 28 the units as well. Therefore I developed the custom ratio: Gross margin per Hour of work. The gross margin per sale divided by the time frame is equal to the gross margin per hour of work. This will help us determine whether or not it’s profitable to work on one design versus another. Another efficiency we will implement is on hand inventory control. Any on used inventory is money that we could be making. While the parts and pieces kept in inventory are extensive, there are times when the designer might be tempted to buy an item from a store in order to enhance the piece. When bought from a retailer, we are subject to all the markup fees associated with that purchase and therefore its better to use supplies that are already on hand. If absolutely necessary, last minute items will be purchased, however in an attempt to utilize inventory effectively and save money we will implement an inventory control procedure. This procedure will all items in the inventory displayed so that the designer can get a full view of everything that’s available for use. Also, pieces that are taken apart will have any of their parts salvaged for future designs. For example, we might buy a set of 12 beaded necklaces and earrings from a whole seller for the total price of $5. We will then take apart these earrings and necklace sets and reuse the earing clips, necklace clasps and all the beads in order to make new jewelry pieces. No useable part of the earring and necklace sets will be thrown away. Each usable item will be stored in an appropriate bin so that it can be used in the future. Competitive Advantages Since the majority of our jewelry designs are made from a pre-existing design, we don’t have to create every piece from scratch. This saves a lot of time and money. We are able to buy “base” pieces in bulk and then make unique pieces from them. They are either used in their entirety, or they are taken apart and used on several other separate pieces. We buy these pieces wholesale and therefore save over 300%. Buying jewelry pieces in bulk specifically for their stones, color or other design elements is cheaper than buying the specific end item from a craft store. Another competitive advantage is our location. Lacey Couture Jewelry Designs are located at the Exagere’ Art Gallery. Exagere’ is over 13,000 square feet of multi level space located in the heart of the French Quarter. We are one block from Bourbon Street and a few hundred feet from the Ritz Carlton and other prestigious hotel. With in feet from our door we have covered valet parking and a public parking garage. The gallery hosts the only VIP nightclub venue that caters to celebrities, athletes and VIPs. With exclusive contact list containing celebrities, local athletes, we have access to high profile events and clientele. The gallery also host events that incorporate fashion, art, music and theater and draw crowds of thousands of people. A reality show called “Southern Couture” is currently in production and centers around events conducted at the gallery. This show is set to air on Lifetime and Bravo and will feature the artwork, designers and owners of the gallery.
  • 29 Problems addressed The problem we predict occurring is not having the time to keep up with the demand or the services offered. All pieces are made by a single designer in order to keep the integrity of the creative process and the authenticity of the design esthetic. Due to this a very strict design and production schedule must be met at all times. This schedule predicts slow and high demand months and is centered on local and national events and holidays. This production schedule allows the designer to plan ahead and make pieces in a timely manner without compromising the overall quality. During ramp up months, the demand can double; therefore the months prior to this, the designer has to be making pieces in prep for the high demand period. In some cases, this will mean staying ahead of trends by predicting where the current trend will go and being prepared by having those items already in stock and ready to sale. This means that the designer will always have to remain one month ahead of the current time frame she is designing for. This will ensure that the designer can allocate time for any special orders or other problems that could arise with the current collection. Another problem that we predicted was a lack of efficient revenue due to the 40% commission fee. The price range for the pieces varies from $35-$450. If a piece of jewelry sales for $35, it’s still subject to the 40% consignment fee and therefore the profit is very small. Due to this, Lacey Couture will only sale pieces in the gallery that are worth over $200. The smaller pieces that cost less than this will be available for sale through the Lacey Couture website only. This way more profit can go back to the company and the larger pieces that sell for more can still turn a profit through the gallery. Since the pieces are all handmade and composed of several small items, we have devised a “care card” for out customers. These care cards will ensure that the customers store and wear their pieces in a way that will ensure their longevity. These care cards give tips on how to properly wear the jewelry, advice on what to wear with it, and how to put the specific piece of jewelry on. Each piece is unique and therefore has specific techniques in order to put the piece on. These cards ensure that the customer is able to wear their piece and keep it intact. Along with this we offer a one time free repair, for any normal wear and tear damages that occur within 3 months of the initial purchase. After this time frame, we will still offer repairs, but for a small fee. The fee will be dependent upon the total damage to the piece and the cost of the materials needed in order to restore it. Location The company headquarters is located at a home office in the owner’s residence at 2554 Holiday Dr., New Orleans, LA 70131. The home office is approximately 300 square feet and is solely used for business functions. Lacey Couture designers are also located at Exagere’ Couture Furniture Boutique and Art Gallery through a consignment deal. The gallery is over 13,000 square feet and consists of four levels. The ground level is retail space and approximately 2,000
  • 30 square feet and showcases the Lacey Couture designs. It’s the main level of the gallery and showcases artwork, sculptures and furniture. An office is located in the back of the showroom. It’s approximately 600 square feet and has a small computer desk and meeting area. The owner uses this area as an office and for retail space. Restrooms and a small outdoor smoking area are also located in this space. The second level of the gallery is event and retail space. It features artwork and sculptures, as well as numerous dance floors and rooms. The theme of the space is changed depending upon the needs of the client. Jewelry can be showcased in this space for special events. The space is approximately 6,000 square feet and has a storage room that is approximately 400 square feet. The storage room is where the packing materials for Lacey Couture Jewelry are stored. The material consists of boxes, labels, wrapping paper and bubble wrap. A second set of restrooms, and a catering prep area is also located on this level. The third level consists of approximately 500 square feet of retail and event space and leads to the rooftop. The rooftop offers 3,000 square feet and is used during special events. Live bands and other entertainment is placed on the rooftop. There is no retail space allocated on the rooftop, however hired models will be placed in this area in order to model Lacey Couture Jewelry. Lease Lacey Couture currently does not have any leases. The gallery owner, Perfecto Boudillo, covers the rent of the Art Gallery, and all expenses associated with the building. Lacey Couture pays a 40% commission on all jewelry sales that are sold through the art gallery. The owner and her husband currently own their home residence and pay a monthly mortgage. Improvements Currently no improvements have been made to the home residence office, however we plan to put in shelves and storage bins in order to organize jewelry pieces and supplies. The owner of Lacey Couture will pay for these improvements. Perfecto Boudillo currently does not have any improvements planned or underway. Any improvements he makes to Exagere’ will be financed by him. Utilities/Maintenance The owner Perfecto Boudillo pays for the costs of all utilities and maintenance associated with the Art Gallery. The owners of the private residence cover utilities and maintenance cost of the home office. Key Factors The fact that our facility is also a Couture Art Gallery, high class event space and located in the French Quarter a block away from Bourbon, as well as walking distance from covered economy and valet parking is likely to affect our success in a positive way. This location gives up prime access to our target market and gives us the chance to increase brand awareness through our exclusive contacts within the
  • 31 entertainment and professional sports industries. The art gallery is over 13,000 square feet and the jewelry collection has room to grow to the different levels. Fashions shows and other live events are also hosted at the venue and the jewelry is displayed on models and live mannequins. We can present out jewelry in an eloquent manner without having the cost associated with moving to a different location. Telecommunications Internet access, a fax machine, and a mobile smart phone will also be needed. These items will ensure that Lacey Couture can present their designs and conduct business in all environments. Currently, Lacey Couture has all of these items and they are working properly. Website Plan Our website will be used to display past events showcasing Lacey Couture designs, keep customers up to date about upcoming events and provide a way for people to purchase and order special pieces. The website will increase brand awareness and also allow customers to sign up for newsletters and special discounts. We will make the website interactive so that customers are engaged and keep returning. The website will also feature a blog which contains information about new trends and styling tips. Free giveaways and links to current fashion events will also be featured on the webpage. This will increase traffic ability to the site and increase brand awareness. MANAGEMENT PLAN Key Employees The President, manager and designer of Lacey Couture is the owner, Lori Tantawi. Lacey Couture currently does not have any employees and does not predict having them within the next three years. After the term of three years, Lacey Couture will expand the brand to include designer formal wear which will then require the addition of employee(s) to handle the construction of the designs, as well as the beading of the garments. This service is part of the future expansion of the Lacey Couture brand, and will only occur after a firm foothold has been made within the market, and the brand is financially ready to expand. Currently Lacey Couture has designs available for sale at Exagere’ Art Gallery. All cost associated with running the gallery to include the hiring and paying of employees is the responsibility of the gallery owner, Perfecto Boudillo. Currently, the art gallery employees a curator that will be selling the jewelry that is located within the gallery. The art curator is educated on art history, art construction methods, knowledgeable about local and international designers and artist and up to date with current styling trends. There are eloquent and very approachable and must be able to present that artwork and jewelry in a professional and engaging manner that increases customer interest and showcases the beauty in every piece. Past experience with curating is preferred.
  • 32 Consultants Lacey Couture will be utilizing the services of Rocket Lawyer on a case-by-case basis for legal consultations. The price of there service varies depending upon the needs of the customer. Lacey Couture will use their basic monthly service for a fee of $40 a month for the first year of operation to ensure that the business is set up correctly and establish key procedures. Following the first year, Lacey Couture will hire Rocket Lawyer on a case-by-case basis. For business related matters, Lacey Couture will utilize the help of a business associate by the name of Anthony Patton. Mr. Patton is a marketing leader and has over 13 years of experience. He is currently mentoring and providing advice to the owner of Lacey Couture. He does not charge for this service. Management Structure The owner of Lacey Couture designs and creates every piece of jewelry. The owner also purchases and organizes all materials and maintains close contact with the Exagere’ owner in order to ensure pieces are displayed properly and follow up on any past issues. The designer is also responsible for the set up and maintenance of the Lacey Couture website, to include taking the pictures and designing content for the page. All shipping of sold materials is managed and conducted by the owner as well. The owner of Exagere’ is responsible for all cost associated with promoting the jewelry, to include hiring models, paying for special events and any shipping cost associated with jewelry sold from the gallery. The owner also provides vital feedback from customers about the jewelry and advises the designer in terms of wants and needs of the customer. The owner is also responsible for selling the jewelry; maintain proper receipts and paying the designer. The gallery curator is assisting the gallery owner in all of these manners.
  • 33 FINANCIALS A positive cash flow will be established during the first month of the first year of operation of Lacey Couture Designs, with a net income after taxes of $2,999. Sells increase during the second quarter due to Mardi Gras, prom, wedding, and tourism season. The fourth quarter also sees a sales increase due to the holiday season and local festivals. By the end of the first year, a total net income after taxes of $50,198 will be earned. (See appendix A, chart 1) During the second year of operations income will continue to trend upwards in the same quarterly trend as the first year. Marketing efforts will increase, and higher quality goods and services will be offered as the price of the jewelry increases slightly. The second year of operation has a projected total net income after taxes of $88,170. (See appendix A, chart 2) This method will be mirrored for the third quarter in terms of seasonal sales increases and the price and quality of product offered. The projected total net income after taxes for the third year of operation is $152,167. (See appendix A, chart 3) Start-up Cost The start-up cost associated with Lacey Couture Designs is very minimal. Home office improvements will only cost $200, and approximately $1,600 will be needed for equipment such as furniture, POS systems and new software. Materials and supplies make up the bulk of the start-up cost at $2,500. This cost includes all the materials needed to compile a complete inventory of jewelry and jewelry making supplies. The final $1,290 comes from fee such as business licenses, insurance and legal. With the addition of a working capital need of $3,000, Lacey Couture Designs requires approximately $8,600 in start-up cost. (See appendix A, chart 4) $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 Year 1 Year 2 Year 3 Net Income A er Taxes Net Income A er Taxes
  • 34 Summary Income Statement Sources and Uses of Funds Statement The total amount of funds required is $13,000. This will be accomplished in one funding round. The principle has invested $4,000 and is seeking an investment of $9,000 in the form of a short-term loan. Lacey Couture is offering a ROI of 50% per year. $1,785 will be used for capitol expenditures in the form of office improvements and the purchase of furniture and equipment. $5,575 will be used for working capitol in the form of inventory, supplies, fees and services. A 3-year working capitol need of $3,000 has been established. The total amount of funds used is $8,575, and this leaves a cash reserve of $4,425. (See appendix A, chart 5)
  • 35 APPENDIX A: Financial Charts Chart 1 Income Statement by Month-1st Year first year of operation JAN FEB MARCH APRIL MAY JUNE JULY AUGUST SEPT OCT NOV DEC TOTAL INCOME Gross Sales $13,550 $15,700 $13,550 $15,700 $15,700 $15,700 $15,700 $13,550 $13,550 $13,550 $16,100 $18,650 $181,000 (commissions) -$1,470 -$1,720 -$1,470 -$1,720 -$1,720 -$1,720 -$1,720 -$1,470 -$1,470 -$1,470 -$1,720 -$1,970 -$19,640 (returns / allowances) -$480 -$557 -$480 -$557 -$557 -$557 -$557 -$480 -$480 -$480 -$569 -$658 -$6,412 NET SALES $11,600 $13,423 $11,600 $13,423 $13,423 $13,423 $13,423 $11,600 $11,600 $11,600 $13,811 $16,022 $154,948 (Cost of Goods Sold) $1,045 $1,215 $1,045 $1,215 $1,215 $1,215 $1,215 $1,045 $1,045 $1,045 $1,235 $1,425 $13,960 GROSS PROFIT $10,555 $12,208 $10,555 $12,208 $12,208 $12,208 $12,208 $10,555 $10,555 $10,555 $12,576 $14,597 $140,988 EXPENSES Salaries & Wages $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $3,583 $43,000 Employee Benefits $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Payroll Taxes $358 $358 $358 $358 $358 $358 $358 $358 $358 $358 $358 $358 $4,300 Professional Services $190 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $630 Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Equipment Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Furniture & Equipment $300 $0 $0 $150 $0 $0 $100 $0 $0 $75 $0 $0 $625 Depreciation $45 $45 $45 $45 $45 $45 $45 $45 $45 $45 $45 $45 $536 Insurance $396 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $396 Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Telephone Svc $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Office Supplies $75 $0 $0 $75 $0 $0 $75 $0 $0 $75 $0 $0 $300 Postage / Ship Expense $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,200 Marketing & Advertising exp $460 $610 $560 $1,110 $360 $460 $310 $310 $1,060 $410 $535 $1,210 $7,395 Travel $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Entertainment $100 $200 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,300 Technology $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other:Licenses and Permits $90 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $90 Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL EXPENSES $5,697 $4,936 $4,786 $5,561 $4,586 $4,686 $4,711 $4,536 $5,286 $4,786 $4,761 $5,436 $59,772 EBIT (earnings b4 interest & taxes) $4,858 $7,272 $5,769 $6,647 $7,622 $7,522 $7,497 $6,019 $5,269 $5,769 $7,815 $9,161 $81,217 interest expense $21 $21 $21 $21 $21 $21 $21 $21 $21 $21 $21 $21 $252 $4,837 $7,251 $5,748 $6,626 $7,601 $7,501 $7,476 $5,998 $5,248 $5,748 $7,794 $9,140 $80,965 ( Provision for income taxes) $1,838 $2,755 $2,184 $2,518 $2,888 $2,850 $2,841 $2,279 $1,994 $2,184 $2,962 $3,473 $30,767 $2,999 $4,495 $3,564 $4,108 $4,712 $4,650 $4,635 $3,719 $3,254 $3,564 $4,832 $5,667 $50,198 Lacey Couture DesignsIncome Statement by MONTH Net Income before Taxes NET INCOME AFTER TAXES summation of cash flows $4,881 $12,177 $17,969 $24,639 $32,285 $39,830 $47,350 $53,393 $58,685 $64,477 $72,316 $81,500
  • 36 Chart 2: Quarterly Income Statement 2nd Year second year of operation 1st QTR 2nd QTR 3rd QTR 4th QTR year INCOME Gross Sales $67,500 $72,750 $65,850 $74,100 $280,200 (commissions) -$7,470 -$8,010 -$7,470 -$8,010 -$30,960 (returns / allowances) -$2,399 -$2,583 -$2,349 -$2,624 -$9,954 NET SALES $57,632 $62,157 $56,031 $63,467 $239,286 (Cost of Goods Sold) $8,618 $9,278 $8,453 $9,413 $35,760 GROSS PROFIT $49,014 $52,880 $47,579 $54,054 $203,526 EXPENSES Salaries & Wages $10,750 $10,750 $10,750 $10,750 $43,000 Employee Benefits $0 $0 $0 $0 $0 Payroll Taxes $1,075 $1,075 $1,075 $1,075 $4,300 Professional Services $150 $0 $0 $0 $150 Rent $0 $0 $0 $0 $0 Maintenance $0 $0 $0 $0 $0 Equipment Rental $0 $0 $0 $0 $0 Furniture & Equipment $200 $0 $0 $200 $400 Depreciation $134 $134 $134 $134 $536 Insurance $396 $0 $0 $0 $396 Utilities $0 $0 $0 $0 $0 Telephone Svc $0 $0 $0 $0 $0 Office Supplies $50 $50 $50 $50 $200 Postage / Shipp Expense $600 $600 $600 $600 $2,400 Marketing & Advertising exp $1,810 $2,335 $1,635 $2,510 $8,290 Travel $0 $0 $0 $0 $0 Entertainment $450 $450 $450 $450 $1,800 Technology $0 $0 $0 $0 $0 Other: $0 $0 $0 $0 $0 Other: $0 $0 $0 $0 $0 Other: $0 $0 $0 $0 $0 TOTAL EXPENSES $15,615 $15,394 $14,694 $15,769 $61,472 Interest Expense $63 $63 $63 $63 $252 $33,336 $37,423 $32,822 $38,222 $142,055 ( Provision for income taxes) $53,885 ( Carryover tax credit) 0 $20,668 $23,202 $20,349 $23,698 $88,170 QUARTERLY Income Statement Lacey Couture Designs Net Income before Taxes NET INCOME AFTER TAXES
  • 37 Chart 3: Quarterly Income Statement 3rd Year third year of operation 1st QTR 2nd QTR 3rd QTR 4th QTR year INCOME Gross Sales $111,600 $117,300 $112,200 $118,800 $459,900 (commissions) -$12,380 -$12,960 -$12,380 -$12,960 -$50,680 (returns / allowances) -$3,967 -$4,167 -$3,985 -$4,212 -$16,331 NET SALES $95,253 $100,173 $95,835 $101,628 $392,889 (Cost of Goods Sold) $19,835 $20,835 $19,925 $21,060 $81,655 GROSS PROFIT $75,418 $79,338 $75,910 $80,568 $311,234 EXPENSES Salaries & Wages $10,750 $10,750 $10,750 $10,750 $43,000 Employee Benefits $0 $0 $0 $0 $0 Payroll Taxes $1,075 $1,075 $1,075 $1,075 $4,300 Professional Services $150 $0 $0 $0 $150 Rent $0 $0 $0 $0 $0 Maintenance $0 $0 $0 $0 $0 Equipment Rental $0 $0 $0 $0 $0 Furniture & Equipment $200 $0 $200 $0 $400 Depreciation $134 $134 $134 $134 $536 Insurance $396 $0 $0 $0 $396 Utilities $0 $0 $0 $0 $0 Telephone Svc $0 $0 $0 $0 $0 Office Supplies $50 $50 $50 $50 $200 Postage / Shipp Expense $750 $750 $750 $750 $3,000 Marketing & Advertising exp $2,625 $3,150 $2,850 $3,700 $12,325 Travel $0 $0 $0 $0 $0 Entertainment $300 $300 $300 $300 $1,200 Technology $0 $0 $0 $0 $0 Other: $45 $0 $0 $0 $45 Other: $0 $0 $0 $0 $0 Other: $0 $0 $0 $0 $0 TOTAL EXPENSES $16,475 $16,209 $16,109 $16,759 $65,552 Interest Expense $63 $63 $63 $63 $252 $58,880 $63,066 $59,738 $63,746 $245,431 ( Provision for income taxes) $93,264 $36,506 $39,101 $37,038 $39,523 $152,167NET INCOME AFTER TAXES QUARTERLY Income Statement Lacey Couture Designs Net Income before Taxes
  • 38 Chart 4: Start-Up Costs (initial capital expenditures) Start - Up Costs (initial capital expenditures) Facilities Land $0 Building $0 Improvements / Remodeling $200 other : $0 other: $0 subtotal $200 Equipment Furniture $200 Production Machines / Equipment $200 Computers / Software $705 Cash Registers / POS Terminals $30 Telephone / depreciable equipment $450 Vehicles $0 other: $0 other: $0 subtotal $1,585 Materials / Supplies Office Supplies $200 Stationary / Business Cards $200 Brochures / Pamphlets / forms $100 Inventory $2,000 other : $0 other: $0 subtotal $2,500 Fees and professional services Initial Rent $0 Deposits (Security/ Utilities/ etc) $0 Licenses, Permits $300 Trade or Professional $0 Attorneys $40 Accountants $0 Insurance $550 Marketing / Mgt Consultants $0 Design / Technical Consultants $100 Advertising / Promotion $300 other: $0 other: $0 subtotal $1,290 TOTAL Capital Costs $5,575 Working Capital Needs $3,000 Total Funds Required $8,575 Lacey Couture Designs
  • 39 Chart 5: Sources and Uses of Funds Sources and Uses of Funds Lacey Couture Designs Number of funding rounds expected for full financing : 1 Total amount being sought in this round: $13,000 Sources of Funds Equity Financing Preferred Stock : $0 Common Stock : $0 $0 Debt Financing Mortgage Loans: $0 Other Long Term Loans: $0 Short Term Loans: $9,000 Convertible Debt: $0 $9,000 Investment by Principal(s) $4,000 Total Source of Funds $13,000 Uses of Funds $200 $1,585 $1,785 Working Capital $2,500 $1,290 $3,790 subtotal $5,575 Three year working capital needs $3,000 Total Use of Funds $8,575 Cash Reserve: $4,425 Capital Expenditures Land, building and leasehold Improvements: Purchase of Equipment/Furniture: Materials, supplies and inventory Deposits, fees and professional services Sources and Uses of Funds Lacey Couture Designs Amount of Investor funds being sought this round: Investment by Principal(s): TOTAL SOURCE OF FUNDS : Uses of Funds Capital Expenditures Land, building and leasehold Improvements Purchase of Equipment/Furniture Working Capital Materials, supplies and inventory Deposits, fees and professional services total start-up costs Three year working capital needs Total Use of Funds Cash Reserve: $5,575 $4,000 $13,000 $1,290 $1,785 $2,500 $9,000 $200 $1,585 $4,425 $3,790 $8,575 $3,000
  • 40 APPENDIX B: Technology Plan Equipment Schedule Currently Owned Equipment Equipment to be purchased Software Needs Lacey Couture needs QuickBooks Pro in order to keep track of all cost and ensure we remain on budget as we acquire new jewelry making items. We will also need to keep track of the cost and time associated with each piece made and how much the piece sold for. This information will provide us with the basics we need in order to conduct vital analysis to see where we can improve production and increase sales. Photoshop will be used to edit pictures, and create graphics. A credit card scanner for the iPhone will be needed so that the owner can make transactions while traveling. Portrait studio will be used in order to take pictures of the jewelry pieces to post online and to use for promotional purposes. This studio is a travel-sized studio that has all the elements needed to provide optimal lighting in order to get high quality photographs. A soldering tool will be used in order to provide a better permanent adhesive for jewelry designs, and the iPhone will allow the owner to synchronize her phone seamlessly with her MacBook. Hardware Needs Lacey couture will need to purchase a professional quality camera in order to take pictures that would be suitable for display on promotional items and on websites. The Nikon CoolPix P520 was selected due to its professional quality and shelf life. Also an I Pad mini will also allow Lacey Couture to show case designs to potential clients while outside of the gallery and at special events. Description Status Date Purchased Cost Payment MacBook Air OS X On Hand/working 2010 $2,500 completed Back Up drive 5GB On Hand/working 2009 $200 completed Kodak Digital Camera On Hand/working 2006 $375 completed Tool Kit Advanced On Hand/working 2013 FEB $50 completed Canon Laser Printer/fax On Hand/working 2011 $400 completed Photoshop On Hand/working 2012 w/ computer completed Office Suite On Hand/working 2012 w/ computer completed Description Purchase Date Cost Terms Payment I Pad Mini WiFi only 2013 AUG $330 cash paid in full Nikon Coolpix P520 2013 SEP $450 cash paid in full Sodering Tool 2013 AUG $200 cash paid in full Portriat Studio 2013 SEP $200 cash paid in full Credit Card Scanner 2013 OCT $30 cash paid in full QuickBooks Pro 2013 2013 NOV $174.95 cash paid in full I Phone 4 8GB 2013AUG free upgrade n/a n/a
  • 41 APPENDIX C: Product Photographs Models wear Lacey Couture Designs “Come Play with Me” , “Coral Reef”, “Dynasty” and “Fall to Command” at Exagere’ Charity Fashion Show Designer, owner and manager of Lacey Couture Designs, Lori Tantawi modeling “Sub Punishment” and “On the Rocks”
  • 42 APPENDIX C: Product Photographs cont. “Diamond Waterfall” “Blueberry” “Bronze Goddess” “Blue Nile” “Stormy Night” “Blue Angel”
  • 43 APPENDIX C: Product Photographs cont. “Dynasty” “Orgasm” “Truth or Dare” “Man’s World” “Cougar”
  • 44 APPENDIX C: Product Photographs cont. Lacey Couture Designs on display for sale at Exagere’ Art Gallery. Each piece is displayed on a piece of couture furniture. “Fire” “Cloudy Night” “Fleur de lis” and “Bronze Goddess” “Blue Nile”
  • 45 APPENDIX D: Market Research Average Cost of Lacey Couture Designs Jewelry (pg. 7) Charlotte Rouse: www.charlotterouse.com Macy’s: www.macys.com Wholesale figures from protected wholesaler list Industry Analysis and Trends (pg. 9) Gross Domestic Product: http://www.bea.gov/index.htm Competitive Advantage (pg.10) NAICS Association: http://www.naics.com/free-code- search/naicsdescription.php?code=448310 City-Data: http://www.city-data.com Industry Overview (pg. 10) Country Report, Jewelry in the US: http://www.euromonitor.com/jewellery-in-the- us/report Global Costume Jewelry Market: http://www.prweb.com/releases/costume_necklaces/jewellery_ear_rings/prweb7 41624.htm How is Fashion Jewelry Doing in the Second half of 2012: http://www.awnol.com/wholesale-fashion-blog/?cat=24 Faux, Fun and Fabulous by Marcia Turner: http://specialtyretail.com/issue/2004/07/retail-products/costume_jewelry/ Market Size and Trends (pg. 13) Chart-http://www.fashionproducts.com/fashion-accessories-overview.html The $4billion Prom Industry by the Numbers: http://theweek.com/article/index/215703/the-4-billion-prom-industry-by-the- numbers Fashion Accessories Overview, Growth Chart: http://www.fashionproducts.com/fashion-accessories-overview.html Country Report, Jewelry in the US: http://www.euromonitor.com/jewellery-in-the- us/report What’s New in New Orleans: http://www.neworleanscvb.com/press-media/press- kit/whats-new New Orleans Ernst N. Memorial Convention Center Celebrates 25 Years: http://www.neworleanscvb.com/articles/index.cfm?action=view&articleID=5324& menuID=1603 Target Customers (pg. 14) Traffic stats and audience demographics. Etsy.com. http://www.alexa.com/siteinfo/etsy.com# Women-Retail Study by Maria Pousa’: http://www.slideshare.net/mpousa/women- retailstudy
  • 46 Market Readiness (pg. 15) Country Report, Jewelry in the US: http://www.euromonitor.com/jewellery-in-the- us/report New Orleans Event Guide: www.neworleanseventguide.com Competition Plan (pg. 16) Jewelry Industry Chart-Jewelry IQ Industry Report by Profile America http://www.immediate.com/images/Jewelry%20Stores.pdf Future Competitors and their Barriers to Entry (pg. 19) Store Locators: www.charoletterouse.com www.forever21.com www.rainbowshops.com Strategic Opportunities (pg. 20) Fashion Overview: http://www.fashionproducts.com/fashion-accessories- overview.html Marketing Plan (pg. 21) Women-Retail Study by Maria Pousa’:http://www.slideshare.net/mpousa/women- retailstudy How to promote your business with Pinterest : http://www.pinterest.com 25 Clever Ways to Grow Your Email Marketing List by Andrew Pitre: http://www.blog.hubspot.com