final business plan ... we did it

8/12/2019 Final Business Plan ... We Did It

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FinalProject

[HAND MADE ART PIECES ]


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Submitted to: Amjad Hussain

Submitted by:

Date of submission:

28 th , January, 2014

UmamaManzoor L1F11MBAM2107

Mahvish Imran L1F11MBAM2052

Sidra Shaukat L1F11MBAM2135

FaizaTanveer L1F11MBAM2119


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Acknowledgments

By starting with the name of Allah Almighty who is most beneficial and merciful, First of all I

would like to say thanks to ALLAH who made this project successful at each step and showed

his blessing till the final stage of this project.

It is always challenging to perform the tasks like this which is assigned by our respectedAmjadHussain . These types of tasks and activities enhance the skills and abilities of us and we can get

the sufficient knowledge of Entrepreneurship that will help us in the future in our

professional/practical field. We would like to express our gratitude towards our Amjad Hussain

for giving us the opportunity to apply these Entrepreneurship concepts in opening new business

and also in the real corporate world which also helped us in completion of our project.


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DEDICATION

Dedicated to our L oving Parents, Br others,respected teachers and Supporting Fr iends

who always helped outI n times of woe and Distr ess

&Taught us to

follow the Path of Tr uth,Justi ce, Honesty and Sincer i ty.


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Executive Summary

Few months back, two sisters FaizaTanveer and Khadija Tanveer when entered Kasre-e-

Bahbood, have never thought that one day they will become one of the finest ArtificialJeweler

Makers and be able to develop a supply chain of a unique and popular design of a wide range of

product in a short span of time. They both worked together with a mission of developing

companys own brand, identity and to retain competitive edge. The production ranges a varietyof items keeping the need and fashion of the day e.g. jewelry, clutches, Pins, Brooches, Pendent

etc.

Now FLAMENCO ART STUDIO started working for the further expansion and promotion of

this business. FLAMENCOis to be based on four main departments, led by respective line

managers, Marketing, Supply chain, Production and Finances. Initial budget of our project is

10,000 each while their long term plan is to open outlets shops. Thecriteria for the location of the

outlets are to attract the major users/consumers of the jewelry i.e. Woman and young girls. Due

to rapid and uncontrolled hike in price of the gold at global level, it has been felt at all sections of

the society to move to some alternate of the real gold products. Artificialjewelry of other low

cost metals has become popular and its demand is also increasing day by day. Especially in

major cities, artificialjewelry has been replaced relatively at a higher pace in view of rapid living,

cultural values and security reasons. Regarding marketing, it is decided to share a part of the

sales outlets at the initial stage with some of the leading business networks i.e. MODEL, HKB

and PEARL Co.Some outlets are to run at their own, while use of FACE BOOK and otherelectronics Ads facilities made effective for the smooth marketing profile and future business

targets.


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ContentsAcknowledgments ......................................................................................................................................... 3

DEDICATION .................................................................................................................................................. 4

Executive Summary ....................................................................................................................................... 5

Feasibility Analysis ........................................................................................................................................ 9

Product Analysis ........................................................................................................................................ 9

Target Market Feasibility .......................................................................................................................... 9

Organizational Feasibility ........................................................................................................................ 10

Financial Feasibility ................................................................................................................................. 10

The Company .............................................................................................................................................. 11

Mission ........................................................................................................................................................ 11

Flamenco is committed to creating the finest handmade jewelry available.We execute yourimagination by providing you with your desired customized handmade jewelry. ............................. 11

Vision ........................................................................................................................................................... 11

Objective ..................................................................................................................................................... 11

Company Ownership ................................................................................................................................... 12

We are four partner of a business and we equally contribute 10,000 of each member ....................... 12

Start-up Summary ....................................................................................................................................... 12

Products Range ........................................................................................................................................... 13

Target Consumer ......................................................................................................................................... 13

Galleries .......................................................................................................................................... 13

Customers ....................................................................................................................................... 14

Marketing plan ............................................................................................................................................ 14

Product: ................................................................................................................................................... 14

Place: ....................................................................................................................................................... 14

Price: ....................................................................................................................................................... 14

Promotion: .............................................................................................................................................. 14

SWOT Analysis............................................................................................................................................. 15

Strengths ................................................................................................................................................. 15

Weaknesses ............................................................................................................................................ 15

Opportunities .......................................................................................................................................... 15

Threats .................................................................................................................................................... 15


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COMPETION ................................................................................................................................................ 16

Competitors ................................................................................................................................................ 16

Marketing objectives & goals...................................................................................................................... 16

The Competitive Profile Matrix (CPM) ........................................................................................................ 17

Porter five forces model ............................................................................................................................. 18

Low cost leadership ................................................................................................................................ 18

Threat of new entrants ........................................................................................................................... 18

Bargaining power of buyers .................................................................................................................... 18

Bargaining power of suppliers ................................................................................................................ 18

Threat of substitute products ................................................................................................................. 18

Marketing strategy ...................................................................................................................................... 18

Action programs ...................................................................................................................................... 18Budgets & controls .................................................................................................................................. 19

Competitive Edge ........................................................................................................................................ 19

Business Model ........................................................................................................................................... 19

Market Needs.............................................................................................................................................. 21

Selection .......................................................................................................................................... 21

Accessibility ..................................................................................................................................... 21

Customer service ............................................................................................................................ 21

Competitive pricing ......................................................................................................................... 22

Identification of Costs ................................................................................................................................. 22

Variable Costs ............................................................................................................................................. 22

Fixed Costs .................................................................................................................................................. 22

Market Demand .......................................................................................................................................... 22

Nature of demand curve ............................................................................................................................. 23

The Market Structure .................................................................................................................................. 23

Reasons for Monopolistic/Imperfect Competition in Jewelry Market ................................................... 23

A fairly large number of sellers ........................................................................................................... 23

Differentiation in products ................................................................................................................. 23

Advertisement..................................................................................................................................... 24

Another very important characteristic of the monopolistic competition is that each firm tries tocreate difference in its product from the other by advertising through Art galleries, websites,


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flayers, banners and through attractive packing, etc When it succeeds in its object, the firmoccupies almost the position of a monopolist. It is, thus, in a position to raise-the price of theproduct without losing its customers. ................................................................................................ 24

Freedom of entry and exit of firms ..................................................................................................... 24

Non-price competition ........................................................................................................................ 24Practicality concept ..................................................................................................................................... 24

Cost benefit analysis ................................................................................................................................... 25

MarketComparison ..................................................................................................................................... 25

Future Forecast ........................................................................................................................................... 25

Conclusion ................................................................................................................................................... 27

Appendixes .................................................................................................................................................. 28

Working ....................................................................................................................................................... 29

Start-up Summary ................................................................................................................................... 29

Raw material: .......................................................................................................................................... 30

Floor plan .................................................................................................................................................... 31

Design .......................................................................................................................................................... 32

Logo for our business .................................................................................................................................. 37


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Feasibility AnalysisFeasibility analysis is the process of determining if a business idea is viable or not. Its a way of

checking whether your business can succeed in the long run and the phases through your new

business have to pass.

Product AnalysisWe have chosen to produce handmade jewelry. We have seen the market trends these days and

preference of customers towards handmade jewelry. Nowa daysgold jewelry is not suitable to

wear because of thefts and snatching and gold prices are rising with each passing day so it is very

difficult for a common person to buy it. With such fears they are just kept inside of bank lockers

to keep them safe that is the main reason we found this gap in the market and we come up with

an idea of handmade jewelry. We are not offering only handmade jewelry but imitated jewelry as

well. Girls usually want something to wear matching with their dresses thats why we are making

jewelry of vibrant colors that can be carried with both looks whether eastern or western look

mostly we are focusing on traditional designs of jewelry. Girls were not wearing jewelry owing

to its huge size and some of them are metal allergic we have solved this issue we are using fancy

stuff along with beads, laces, ribbons and fancy thread with plastic supporting. Such trends are in

market moreover we have asked few customers in the market who regularly buy jewelry that

what would they like to wear heavy jewelry or something that looks like the heavy jewelry but

actually its way lighter than the heavy jewelry so the response was in our favor they want

something that is trendy and up to date. We have also seen the demand of our product because if

there isnt any demand for the product then all our efforts will go to vain because whe n a

customer buy jewelry they arent buying jewelry in fact they are buying a whole experience of

the entire range of the designer behind it.

Target Market Feasibility

Industry for imitated and handmade jewelry is growing so rapidly over the last year. Gold is

getting out of range these days people are shifting towards substitutes. Every girl wants to look

versatile in its own way. Our target audience will be girls 12 to 22 years of age even working

class women can also wear our collection once we will be in market we will also start a

collection for girls of 5-9 years of age.


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Organizational Feasibility

We have designed our jewelry on our own and they are quite unique in their own way. Currently

at this stage of idea it is decided that all the partners will help in managing the resources that are

needed by us. We have talked with various people we will sell our products to different malls

preliminary we are going to sell our products to H.K.B , MODEL CO , and REAL

BEAUTYPEARL CO side by side we will also sell them on stalls at the exhibition we are also

going to provide the facility to customers that they can demand the jewelry on order to facilitate

them in matching with their clothes we have also developed a page on social network to

introduce our products to our customers they can also call or leave their queries on whtsapp.

Financial Feasibility

This business is financially feasible because capital is less required to start up business at thissmall scale initially we are putting around 7 thousand to start up. Material and supporting stuff

such as ribbons fancy beads will e bought only in huge quantity once they are bought it can be

used to produce them in a sufficientamount. It will cover its cost even when few units are sold to

above mentioned retailers. But they key to success in this field is that know the preferences of

your targeted audience make up things that meets their requirements try to fulfill the gaps in your

field competition is so intense in this industry because there are lots of other people doing this

same business because of its low startup cost to keep in this industry we will come up with

unique stuff to keep alive the spirit of competition because if you are meeting the demands of

your customers they will be overwhelmed. By looking at each and every perspective we found

our self-suitable for the proposed business and there are chances of growth as well.

From this analysis we have come to know that this business is feasible and now the details of the

business is as follow


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The Company

Two sisters FaizaTanveer and Khadija Tanveer when entered Kasre-e-Bahbood, have never

thought that one day they will become one of the finest ArtificialJeweler Makers. Now both of

them created Flamenco Art Studio which is located in Mughalpura Lahore having a large rangeof artificial handmade items. Flamenco Jewelry has a wide range of jewelry offerings, from

pendants, to pins, to earnings.The business is totallybased on home base concept. Flamenco sells

the product direct through his website as well as through selected Suppliers, galleries and art

shows.

Mission

Flamenco is committed to creating the finest handmade jewelry available.We execute yourimagination by providing you with your desired customized handmade jewelry.

Vision

Flamenco vision is to make innovative art pieces in handmade jewelry. Our services will exceed

the expectations of our customers

Objective

The objectives for the first five years of operation include:

To create a jewelry manufacturing company whose primary goal is to exceed customer's

expectations

The utilization of Contemporary's designs in at least 20 different galleries

To increase the sale by 7% every year

To increase the number of designs offered by 8% per year

To develop a profitable/sustainable home-based company


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Company Ownership Flamenco is a co-partnership, owned by faiza, sidra, umama and shakeel. The advantage of

corporation generally it is easy to establish and start-up costs is low.

Flamenco will be completely financed by 4 partners named

FaizaTanveer (Manufacturing Manager)

UmamaManzoor (designer)

Sidra shaukat (Marketing Manager)

Mahvish Imran (Fiance Manager)

We are four partner of a business and we equally contribute 10,000 of each member

Start-up SummaryFlamenco start-up costs will include the following equipment for the home-based business:

Legal fees Rs.1,000

Website creation fees Rs.2,500

Home office furniture including desk, file cabinet, chairs Rs.1,000

Computer including printer, CD-RW Rs.7,000 DSL hookup Rs.2,000

Extra land phone line Rs.1,500

Cutting tools Rs.45,00

Raw materials (Ribbons, Laces, Cotton Balls,

Artificial Flowers, Beads, and Fancy Thread

with Plastic Supporting.) Rs.11,400

Anodizing equipment Rs.2,000

Total Rs.32, 900


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Products Range.All of the products are designed and made by UmamaManzoor and FiazaTanveer respectively.

The product range given for our product is as follow:

Bangles

Rings

Earrings

Brooches

Necklaces

Mehndi accessories

Kolhapuris

Hair accessories Anklet

Target ConsumerFlamenco will be focusing on two distinct groups of customers. One is the end consumer, as we

all know industry for imitated and handmade jewelry is growing so rapidly over the last year.

Gold is getting out of range these days people are shifting towards substitutes. Every girl wants

to look versatile in its own way. Our target audience will be girls 12 to 22 years of age evenworking class women can also wear our collection once we will be in market we will also start a

collection for girls of 5-9 years of age. The other is galleries, to be used as a distribution channel.

The end consumer will be interacting with Flamenco via his website as well as through personal

contact at exhibitions/shows. The galleries (museum shops, jewelry stores) will also be met

through the exhibitions and shows.

Galleries These buyers are purchasing jewelry wholesale in quantity and reselling it to the

public. Some of the galleries are private galleries, some are artisan jewelry shops, some are

museum stores, like the pearl continental exhibition and Alhamra Art Store. The margins are not

as good compared to sales to individuals and there is also the expense of setting up relationships

with the galleries to sell the art pieces, but galleries move a large quantity of work. The galleries


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and stores that typically are interested in Contemporary's work are more upscale and modern.

They appeal to a crowd that favors progressive or industrial design.

Customers These buyers are familiar with Flamenco Jewelry either from stumbling across the

website. The individual would then view the different available pieces on the website and place

the order via the Web, phone, fax, or mail. The margins for customer sales are greater because

there is not a distribution layer involved; it is direct from Flamenco to the end consumer. The

individuals that are typically attracted to this type of art work are generally from cities and are

fairly progressive. The reason for this is that the jewelry, while not flashy, is not all that

conservative looking. They are intricate pieces, typically using organic shapes and industrial

design. This is the reason that more progressive people will appreciate the Flamenco pieces.

Marketing plan Product: Flamenco Art Studio is a handmade business of all the handmade items that

includes wide range of handmade accessories for women, handmade bangles. Rings,

earrings,Brooches, Necklaces, Mehndi accessories, Kolhapuris, Hair accessories and

Ankletetc

Place: Right now we have launched our handmade products in Lahore, but in future wewill launch our product 3 big cities Karachi, Sialkot and Islamabad. We will also makeour handmade products available outside the Pakistan through online sale.

Price: We will adopt penetration marketing strategy for our handmade product range.The prices for each product will vary according to the design adapted.

Promotion: We will promote our handmade business through website, radio andthrough print media (pamphlet, brochures). We already have a facebook page with morethan 700 likes and promoting our handmade products through

flmancoartstudio/facebook.com


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SWOT AnalysisThe following SWOT analysis captures the key strengths and weaknesses within the company,

and describes the opportunities and threats facing Flamenco Art Co.

Strengths Unique designs and construction methods.

Strong relationships with suppliers as well as galleries.

The flexibility to provide custom pieces.

A comprehensive distribution network from a robust website and a network of galleries.

Weaknesses A large portion of the target market that is unaware of Flamenco Art Co.

Limited time and budget to market the company to the segmented target population.

The struggle to constantly create new designs.

The possible inability to meet demand due to the small size of the company.

Not developed brand

Opportunities A growing market that, to a large degree, is unaware of Flamenco Art Co.

The possibility to grow the size of the company so Umama is spending his time creating and

allowing others to deal with the administrative details.

The injection of fresh, creative designs in a somewhat stagnant industry.

Increasing brand recognition by development of social network

Threats A decrease of availability of raw materials due to demand from other industries.

Artistic copycats that enter the market and mimic Umamas designs.

A slowdown of the economy that will have a reduction on individual's discretionary income.


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COMPETIONCompetition for Flamenco takes the following forms:

Artists creating designs that are then manufactured on a large scale and distributed nationally.

Companies that has their own designers in-house. In this case everything is done in-house,

design, marketing and wholesaling.

Artists such as UmamaManzoor who design and make all of the pieces themselves, and then

do the wholesaling or retailing themselves.

Competitors

Haroons, Milli, Rangjha are the direct competitors of our business.

Marketing objectives & goals The goals and objectives of flamenco include:

To establish a brand name of Flamenco Art Studio. To give awareness about handmade accessories and decorative to the people.

To create a jewelry manufacturing company whose primary goal is to exceed customer'sexpectations

To increase the number of designs to achieve high attention of the customers.

To provide opportunity for women as a source of earning at home.

To develop a profitable/sustainable home based company.

To contribute in the changing trends towards handmade jewelry.


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The Competitive Profile Matrix (CPM)The Competitive Profile Matrix (CPM) identifies major competitors and its particular strengths

and weaknesses. In CPM include critical success factors both internal and external issue. In CPM

rating refers to strengths and weakness. In CPM rating is 1 to 4, where 4 represent is major

strength, 3 represent is minor strength, 2 represent is minor weakness, and 1 represent is major

weakness. CPM rating and analysis provides important internal strategic information.

Competitive Profile Matrix (CPM)

Critical Success

Factors

Weights Rating Score Rating Score Rating Score

Creativeness 0.15 4 0.60 4 0.60 1 0.60

Product Quality

0.10 4 0.4 3 0.30 2 0.20

Unique Design 0.15 3 0.45 3 0.45 2 0.30

Customer Service 0.10 3 0.30 2 0.20 1 0.10

Skills 0.10 3 0.30 3 0.30 1 0.10

Product Varity 0.10 3 0.30 3 0.30 2 0.20

Consumer Demands 0.15 3 0.45 3 0.45 2 0.90

Management 0.07 3 0.21 3 0.49 2 0.14

Total 1.00 3.01 3.09 2.54


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Porter five forces model

Low cost leadershipWe are gaining this advantage by using the scrap and transforming it into useful material once

scrap which includes wires ribbons beeds and fancy material is left out of the order that we aredone with rather than throwing it away we make jewelry out of it and sell it to the people who

like those designs thats how we are gaining the advantage of low cost leadership.

Threat of new entrantsThreat of new entrants is relatively high as china is also making handmade jewelry and they are

trying to penetrate this market by providing those designs Chinese designs can be easily imitated

but our designs are relatively difficult to imitate. There is also difference in our quality

Plus this business doesnt require much cash to start up so entry barriers are not high.

Bargaining power of buyersBargaining power is low as fleminco isnt a recognized brand yet its in it development stages

much people a rent aware of this thats why we believe bargaining power is low.

Bargaining power of suppliersBargaining power of suppliers is relatively low as we have three suppliers and can get more

suppliers if required, who can provide us with raw material.

Threat of substitute productsThreat of substitute product is low as we consider gold and we are replacing it so threat is low.

Marketing strategyWe will adopt penetration marketing strategy for our handmade product range.

Action programsAs we are at the beginning stage of our business so we have adopted penetration marketingstrategy to grab the attention of customers & we will control our cost for the implementation ofthis strategy.

As at this stage we are making our handmade products by our self so it will helpful in controllingcost but in future we will launch it on a large scale so we will hire more labor to meet the


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requirement hence, we will increase the prices according to the demand of our handmade products.

Budgets & controlsWe have a budget of approximately Rs 40,000. As we are at the initial stage of our business butin future we will increase it according to the increase in sales and revenues. We will control ourcost as we are not hiring any individual to market our product we will promote our products byourselves at this initial stage. As we will use radio, brochures, pamphlets &facebook page etc forthe marketing that are not very expensive means of advertisement.

Competitive Edge

Flamenco competitive edge is fairly simple. It is based on creative, unusual designs. While this

strategy can be replicated, it is not easy. Creative, unusual designs require skills. While not

everyone has artistic skill, Umama is certainly not the only one graced with this skill. Regardless,

Umama is very skilled in what she does, and every piece that she manufactures incorporates an

element of creative, unusual, eye catching design that stands out from most jewelry.

Business ModelSometimes the process which company performs becomes very important not only for company

but also for the customers because customers really want to know how the product came into

being. So what we did is, we selected 6 step business model, which starts from getting raw

material from supplier and ends up at product in hand of customers. The detail of the business

model is as follow:


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Product in hand of customers

In the first step of getting raw material from suppliers, we will get our raw material from Shalmimarket and 3 suppliers in the market are Ahmad laces center, Abu Bakar mote center and Arooj

plastics and glues. We almost get all our raw material from them including ribbons, laces, cotton

balls, artificial flowers, beads, and fancy thread with plastic supporting. Then after this step we

will get design from our design department, being headed by UmamaManzoor, who is our

Getting raw material from suppliers

Receiving jewelry designs from thedesigners

Finalizing the designs

Implementing the designs

Final touches to the products


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professional designer and help us in providing unique and diverse range of design to the

customers.

These designs are then being forwarded to the manufacturing department; head of this

department is FaizaTanveer. The onward step till final touches to the product is done in thisdepartment. FaizaTanveer will firstly finalize the designs of the design department and then she

will implement those designs with help of labor. She is responsible for this department and

department include 17 labors. The labor in this department is almost being paid according to the

product they manufacture. We basically pay Rs.70 per dozen to the labor. In a single day 700

products are almost made.

After manufacturing all products we will do final touches to the product and FaizaTanveer,

being a head of this department will see all these activity to assure the quality because we believein delivering the best to our customers. In the step of final touches, the product is keenly

observed and tags are attached to the products, which contains labeling, warnings and price tags.

In the last the product will be forwarded to the shops and will be in the hands of the customers.

The two other departments Finance and marketing are being headed by Muhammad Shakeel and

Sidra shaukat.

Market Needs

Flamenco is providing its customers with innovative, creative, handmade jewelry. It will provide

the following benefits to their customers:

Selection : A wide range of jewelry styles, creations, and anodizing schemes.

Accessibility : Flamenco design sells direct to the consumer, through a network of art/jewelry

galleries, and at art fairs and shows.

Customer service : The patron will be impressed with the level of attention and service that

they receive. This level of service occurs during all transactions with Flamenco designs from

answering questions, to order taking, to warranty repairs.


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Competitive pricing : The pricing structure provides the consumer with a good value for

handmade jewelry and the craftsmen with a fair profit.

Identification of CostsFor the running of business the costs are firstly indentified and there are two type of costs which

are fixed and variable costs the details are as follows.

Variable CostsVariable costs rise and fall with sales. They include materials and labor. When you make the

jewelry yourself, you should count the cost of your production laborbecause it has valuewhen

you need to expand your business.

Fixed CostsFixed costs include rent, furniture. These costs remain relatively stable, even when sales

fluctuate. Other fixed costs might include marketing expenses such as advertising.

*(Details given in Appendixes)

Market DemandThe demand of the jewelry product is elastic

When Deman d is Elastic, price has a large impact on the demand for jewelrys.

This is generally true for Jewelry, as they are not required to exist.

Price elasticity of demand is defined as the percentage change in quantity demanded divided bythe percentage change in price. For handmade jewelry, the change in quantity demanded exceeds

the change in price, therefore, its elasticity is larger than one and the product is deemed to be

elastic.


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Nature of demand curveSince the existence of close substitutes limits the monopoly power, the demand curve faced by a

monopolistically competitive firm is fairly elastic. The precise degree of elasticity will however,

depend upon the number of firms in the group product or industry. If the number of firms is

fairly large and the product of each firm is not very similar, the demand curve of a firm will be

quite elastic. In case, there is close competition among the rival firms for the sale of similar

products, the demand curve of a firm will be less elastic.

The Market StructureMonopolistic competition is a market situation in which there are relatively large numbers of

small firms which produce or sell similar but not identical commodities to the customers.

There are many other firms in the market which sell similar products (not identical) with

different brand names. The firm supplying jewelry enjoys a monopoly position over the sale of

its own product. It also faces competition from firms selling similar products.

Reasons for Monopolistic/Imperfect Competition in Jewelry Market

The main characteristic or features of monopolistic competition are as under:

A fairly large number of sellers

In jewelry the number of firms in monopolistic competition is fairly large. Each firm produces or

sells a close substitute for the product of other firms in the product group or industry.

Differentiation in products

Under monopolistic competition, the firms sell differentiated products. Product differentiation

may be real or imaginary.

Real differentiation is done through differences in the materials used, design, color etc.

Imaginary differences may be created through advertisement, brand name, trademarks

etc.
http://economicsconcepts.com/Definition_and_concept_of_monopoly.htmhttp://economicsconcepts.com/what_is_monopolistic_competition.htmhttp://economicsconcepts.com/what_is_monopolistic_competition.htmhttp://economicsconcepts.com/Definition_and_concept_of_monopoly.htm


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what would they like to wear heavy jewelry or something that looks like the heavy jewelry but

actually its way lighter than the heavy jewelry so the response was in our favor they want

something that is trendy and upto date. We have also seen the demand of our product because if

there isnt any demand for the product then all our efforts will go to vain because when a

customer buy jewelry they arent buying jewelry in fact they are buying a whole experience of

the entire range of the designer behind it. Its a small scale business, it give us a sufficient profit

within small investment.

Cost benefit analysis

It is define in the above income statement that our sales of projected five years are increasingcontinuously and net income shows that profit is increasing with 45% in 2 nd year, 47% in 3 rd

year, and this rate increase from5-7% every year.The maximum increases in our sales are 85%

and gives a positive response and image to our company day by day.

MarketComparisonBeing Flamenco Owners we are providing best quality with unique designs to our customers

which are totally customized handmade items. All these designs are properly sketched and then

given to manufacturing department. As compare to our competitors we provide reasonable price

and add value-added services which value to our customers. We are giving replacement option

and further provide low cost products with the help of waste material to wholesalers. We also

accept all the urgent orders and give on time delivery. Art Gallery Shows is also one of a reason

for a better sale. We have a home base business that makes us different from others in a case of

cost.

Future ForecastThe analyses of market scale, market competition status, import and export situation, business

performance of key enterprises is a forecast of future jewelry industry. With the diversification

of jewelry consumption, the jewelry market is constantly divided into more market segments, the

brands are enriched, and the intrinsic quality is also improved. Under the impact of the


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international financial crisis and the downward pressure from the domestic economy, in 2012,

the growth of Pakistans jewelry industry slowed do wn, but still maintained a good development

trend. Growing up in the market is a basic vision for a company. Same is a case with us; we also

planned for achieving those targets. Firstly we will expand our business by moving with an

increase in the product number e.g. from 700 to 1700 a day in the first year and for this we need

more labors and then keep on expanding with the need by launching in Karachi and Islamabad.

In the future we also are planning to have a shop in Lahore in the first year and then 4 shops in

the next 2 years.


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ConclusionHandmade items specially Jewelry is always appreciated by the young girls and women After through

research and applying the different strategies and economics concepts we have a strong intuition that our

business will be profitable and long lasting in the market. The main objective is to providing value to our

customers better than our competitors and we are doing this by making our product feasible to approach

and easy to carry we have also focused on quality and price is also reasonable. Now a days gold is quite

expensive most of the people cant afford it. So here is best suitable alternative of this to have a artificial

unique and trendy jewelry for the young girls and women.


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Appendixes


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WorkingStart-up SummaryFlamenco start-up costs will include the following equipment for the home-basedbusiness:

Legal fees Rs.1,000

Website creation fees Rs.2,500

Home office furniture including desk, file cabinet, chairs Rs.1,000

Computer including printer, CD-RW Rs.7,000

DSL hookup Rs.2,000

Extra land phone line Rs.1,500

Cutting tools Rs.45,00

Raw materials (Ribbons, Laces, Cotton Balls, Artificial Flowers, Beads, and Fancy

Thread with Plastic Supporting.) Rs.11,400

Anodizing equipment Rs.2,000

Total Rs.32, 900


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Raw material :

Beads Rs.500Bails Rs.750

Bead caps Rs.250

Ring base Rs.1500

Brooch backs Rs.300

Cages and cones Rs.350

Headpins Rs.400

Ear wires Rs.250

Jump rings Rs.650

Ends and tips Rs.400

Chokers and bangles Rs.700

Laces Rs.1100

Cotton Rs.800

Balls Rs.550

Artificial flowers Rs.1400

Thread Rs.600Plastic supporting Rs.900

Total Rs.11, 400


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Floor plan

The business is home base so the floor plan is as follow:

Entrance Store Room

Designing Department Marketing Department

Manufacturing Department Finance Department

Packaging room Washroom


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Design


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Logo for our business

final business plan ... we did it

Documents