Writing a business plan is a good way to develop your idea. The writting of the plan helps you through the process of exploring thoughts and ideas. Though, a business plan can be much more involved, this is an illustration of a draft business plan. This is the time to put some ideas down and address some of the marketing issues. Remember, you may still be in the idea stage and writing it out can help flush out ideas you have not thought about. Pay particular attention to Marketing, as reaching your target market is one of the most important things a company can do.

Date: 05/17/2012
Proposed Business Name: Anja's Jewelry

Introduction

Brief Description of your business or idea:

I will specialize in selling five types of high quality handmade jewelry at craft shows and flea markets.

Anticipated timeline for starting your business. Please list any goals you hope to reach in the next 12 months:

I would like to have my checking account set up and produce enough product to rent a table at the Arundel flea market on Rt. 111.

Business Operations

Describe your experience in this industry:

I have been doing bead jewelry for several years and have made pieces for my daughter and others.

Describe the location and why you chose it:

I hope to test market my idea at local craft fairs and flea markets, and would like to have a website.

Will you/do you employ other people? If so, please describe what they will be doing for you:

I will do all the work myself, with a little help from my boyfriend.

Marketing

Description of your products and/or services:

All my pieces are handmade using beads I buy from flea markets or created with Sculpy ( a clay like substance that can be molded, then heated to harden it).

Have you determined how you will price your goods/services? If so, please describe:

Initially, I will shop around in Wal-Mart and craft fairs to see what others are pricing their pieces. I hope to create one of a kind pieces that can bring higher prices.

Who do you see as your market (businesses or people who you will sell to)?

Craft fair followers, female, age 10 to 35. Also, some upscale jewelry for women 55 to 64.

How do you intend on communicating/advertising to potential customers?

Mostly by word of mouth, but hope to increase sales and advertise on ebay and other online stores. I would like to create a website to sell my jewelry.

Who are your competitors?

There are hundreds of others doing this, but mostly others at flea markets and craft fairs.

Why would your customers buy from you versus your competitors (what is your “competitive advantage”)?

I will have unique items, and branching into more complex designs.

Have you performed any market research? If so, please describe:

Yes, I have spend hours on eBay and doing google searches for similar items. I also learned from Forrester Research that online jewelry sales are a $2.8 billion market and growing. U.S. Fine Jewelry sales in 2003 were $45 billion. A survey by Unity Marketing in April 2002 found that the typical fine jewelry customer is a youthful female with above average income. Women (43%) are more likely to buy fine jewelry than men (34%). Households with incomes over $75,000 are more likely to purchase fine jewelry. The 55-64 age group spend the highest amount on jewelry at $172 per capita. http://www.refresher.com/!umi.html Generation Y (those born in 1978 or over), children of the baby boomers are reaching the age of 25, and 27 is the current age for getting married. According to Blue Nile, Generation Y children are moving into their prime jewelry buying years.