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- 1. P a g e | 1 1.0 EXECUTIVE SUMMARY A handicraft, sometimes more precisely expressed as artisanal handicraft, is any of a wide variety of types of work where useful and decorative objects are made completely by hand or by using only simple tools. The demand of handicraft is rising day by day because of it‟s attractiveness. People are seeking more toward handicraft items. Secondary data were collected form company prospectus, internet, books, blogs, different publications. There are also some limitations such as privacy or reluctance to disclose confidential data was another important problem, cost constraints, lack of experiences. I have always admired entrepreneurship and hoped that someday I will have what it takes to be one. For the love to the environment and for my personal and professional interests, I have decided to make a business plan for wood and handicraft items, the name of the company is „Craftworld‟ with a slogan “Bring Elegance to your Home”. The main objective of it is to improve the handicraft industry. Craftworld will be established in 2017 as a partnership business. We will use bamboo, crane, wood such type of things as raw material to produce the products. Thus our operational activity will be environment friendly Biplab Babu [email protected]
- 2. P a g e | 2 1.1. INTRODUCTION Nowadays handicrafts are very popular in Bangladesh. It is also known as craftwork or simply craft is a type of work where useful and decorative devices are made completely by hand and using only simple tools. Usually the term is applied to traditional means of making goods. The individual artisanship of the items is a paramount criterion, such items often have Cultural and religious significance. In Dhaka city, it is very difficult to find handicrafts because only fashionable people collect it to decor their home. Most of the people have a Little idea about it. For this reason, in our handicrafts shop, we are providing different kinds of handicrafts-Textile products (Wall mat Soft Toys, Make-up bags) Ceramics and pottery(salad bowls, nut bowls, amphorae, plate and pencil holders), Mosaic products (small gift items, wall to wall artwork, pictures and furniture, Photo Frame). The most common materials used for making handicrafts products are Wicker, Jute, Paper, pottery, wood ,textiles, Stone, Glass, and a combination of different metals. Our target consumer is couple those who both Husband and wife are Job owners, Fashionable women, both middle and high class people. Young generations are not so interested for handicrafts. We also target young generations but they are not our main focus. We have selected 3 divisions Dhaka, Sylhet & Chittagong for our main showroom and different areas of Dhaka such as Dhanmondi, Gulshan, Banani, Bashundhara and Uttara for sub-showroom to sell handicrafts. 1.2 Business Description Craft world is a new SMI (Small and Medium Industry) invesing in an existing but prosperous sector of Bangladesh. In Bangladesh there are lots of people who are looking for different kinds of Handicraft products from different districts of Bangladesh. But one might not find all the handicraft products from one place. On the other we are the only handicraft shop having both online and normal Product selling system. Besides, we are creating jobs for the urban people who are currently unemployed because of not having any proper guideline to reach their products to the customer. We are adding people and operating from major 3 Divisions of Bangladesh. So that we can collect, make, sell our product easily. Biplab Babu [email protected]
- 3. P a g e | 3 We know handicraft shops are nothing new but why our company is different from others. Because we have designed operating our product channels system in such a unique way so that we can reach and give after sales service of the product within company rules. 1.3 Mission Statement It is Craft World‟s mission is to convert the creativity into reality in hand. The most important thing to remember is that every customer must be satisfied with our services. 1.4 Vision of Craftworld 1. To become the first choice of the customers in the chosen areas 2. To build beneficial and lasting relationship with customers 3. To continuous improvement of the products and services. 1.5 Objectives Main objective Main objective of craftworld is to glorify the different occasions of our customers by providing exclusive and quality products. a. Commitment to well being We believe well being is the cornerstone of personal and professional growth. Without personal and professional well being our mission cannot be achieved. Biplab Babu [email protected]
- 4. P a g e | 4 b. Commitment to goal attainment We believe every individual shoid have economic and personal goals. A joint effort will be put forward to identify and achieve our long term objectives. c. Commitment to the team objective We believe in total commitment to the team. The team is a guide for us to follow in our service to our clients, support of each other, and team growth. d. Commitment to innovation We believe our strength lies in our passion to implement new ideas and embrace change. We realize that innovation involves risk of failure, but we choose to face risk of failure in our pursuit of success rather than fail passively. e. Commitment to excellence Our philosophy is to achieve excellence in all that we do. All efforts of our team are directed towards achievement of maximum quality f. Commitment to Value added service Value added service means doing and giving more than what is expected. We believe each of us needs to go beyond the call of duty. g. Commitment to incredible, outstanding, unbelievable customer service We believe in extending such incredible service to all customers that they feel real sense of creativity in our establishment. Long term objectives a. To expand business activities in other cities b. To satisfy the customers who uses our products and services every time. c. To be socially responsible by utilizing the waste materials for making new and innovative products. 2.0 BUSINESS OPERATIONS, PRODUCT & SERVICES 2.1 Operational activity We use Bamboo, Cane, Cloth, Jute, Spin, Clay & many more to produce our product. We‟ve decided to set our business at Dhaka, Shylet & Chittagong division that are the main showroom 7 in attractive place of Dhaka city like Dhanmondi, Gulshan, Bonani, Bashundhara & Gazipur. Because here the place is crowd & here is a huge market for Biplab Babu [email protected]
- 5. P a g e | 5 handicraft. Our main labor force form northern part of Bangladesh. Because there agriculture development in not so good. Most of the time there have drought. We have stowage at Motihar Rajshahi & supply all products from there to each main 7 Sub-showroom. Here the transportation and all other resources are available. The surrounding environment is quite good. We can transport our manufactured items to Dhaka easily. We have to keep some experienced worker in marketing side to convince the customer. We have to give different look to our showroom for attraction of customer. All handicrafts businesses are our competitors like “Bangla craft”. We will not conceder “Arong” & this type of institute isn‟t our competitor. We will also increase our product line later. There will be adding Jamdani sharee, Nokshi katha, Non- traditional jewelry item, wood made table & many more. 2.2 Services We are going to launch a new handicraft company; through our company we will sell almost every district best handicraft products of Bangladesh. We will sell the handicrafts products directly to the customers in Bangladesh. We would also sell them through the suppliers where reaching to the customer directly impossible. For the Foreign and international customers we will reach them through suppliers too. Some of the Service we are going to provide that others hardly do. 1. Taking Custom design orders for handicrafts items. 2. We will give three days free product changing opportunity. 3. We will take product orders from online and also going to provide free home delivery. 4. We will give 1 month replacement warranty for any kind of factory fault. 5. Environment-friendly products. 6. Highly professional quality control team. 7. Modern warehouse facilities, with moisture 8. Regular process of product development detector and moisture control system. 9. Well equipped office with modern communication facilities. Biplab Babu [email protected]
- 6. P a g e | 6 10. Self-sustaining organization, without any external dependency 2.3 Some of the products name and detail 1. Bamboo Fancy Clock. Code: BFC0121 Price: 2500 BDT 2. Table Lamp Code: LMP0131 Price: 1500 BDT 3.Busket Code :BS201 Price: 1200 4. Jwellary Box Code: JB0145 Price: 3000 BDT Biplab Babu [email protected]
- 7. P a g e | 7 5. Sari(Female) Code: ClF056 Price: 4000 BDT 6. Cloths(Female) Code: ClF056 Price: 4000 BDT 7. Wallet Code: Wa568 Price: 500 BDT 8. Cane single Sofa Code: Css650 Price: 4000 BDT Biplab Babu [email protected]
- 8. P a g e | 8 9. Photo Frame Code: Pf950 Price :1000 BDT 10. Fruit Basket Code: Fb100 Price:1500 BDT 11.Tea Tre Code: Tt250 Price: 4000 BDT 12. Wall Mat Code: Wm500 Price: 1400 BDT Biplab Babu [email protected]
- 9. P a g e | 9 13. Cane Sofa Code: Cs 300 Price: 6000 BDT 14. Cane Rocking Chair Code: Crc 650 Price :2000 BDT 15. Weigh Bridge Code: Wb520 Price : 2000 BDT 16. Flower Vassal Code: Fv500 Price: 1000 BDT Biplab Babu [email protected]
- 10. P a g e | 10 Here are Lot's more Products made of bamboo and other natural elements. There are more products and other details on the website. Website address: www.craftworld.com.bd 3.0 INDUSTRY ANALYSIS 3.1 Competitive Analysis For Bangladesh this is a new impression and hence there is hardly and commercial competition. That‟s why it holds competitive advantage. The market is relatively new and has a high growth potential. Since it has no major competitor, it is easier for Craft world to invest in the industry. The fact that we invested in this new industry is in itself innovative, so craft world is also trying to come up with more innovate ways to solve customer problems. And this is reflected in its workplace environment. 3.2 Market Analysis: A target market is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. For our handicrafts product we will need to target customer as their need want & demand. Our craft world target markets are high class and middle class. Men & women both are wanted to decorate their home. Those types of customer are front line customer for our product. Through research, we come up with a list of demographics statistics, characteristics and qualities that represent our ideal target market. Demographics can be segmented into several markets to help us to target our consumers more accurately. The geographical location of our products is all over Bangladesh & foreign country. As we might expect, demographic segmentation variables are amongst the most popular bases for segmenting customer groups. This is partly because customer wants are closely linked to variables such as income and age. Also, for practical reasons, there is often much more data available to help with the demographic segmentation process. 4.0 SALES & MARKETING PLAN 4.1 Identify Target Customer: We can identify our target market by demographically, like: Age: Above 12 Biplab Babu [email protected]
- 11. P a g e | 11 Location: 1st 3 Divisions Dhaka, Sylet, Chittagong (Main Showroom) & 4 Sub- showroom In attractive part of Dhaka City. Gender: Both male & Female. Income level: Middle & higher class people. Education level: Minimum knowledge about handicrafts Marital or family status: Single, married, Unmarried. Occupation: Housewives, corporate worker, Student. Ethnic background: Bengali & Foreign people. Also we can identify our target market psychologically. For this segmentation we will see: Lifestyle: Fashionable man & women. Belief: Know & understand our culture and traditions Besides we‟ll identify our customers by their behavior (knowledge, occasion, benefits. User status) in next in International Business we‟ll segment our customers geographically also. 4.2 Marketing Mix: The main thing for marketing any type of product is effective advertising. It‟s a part of marketing mix under product promotion. Biplab Babu [email protected]
- 12. P a g e | 12 a. Product: Product is anything that can be offered to a market to satisfy a need or want. Our product is different types of handicrafts work. That contains a tradition of a country. These are: Jute made Bag, Moneybag, Tea tray. Flower vessel, Terracota vassel, glass, Show piece, Cane made chair, fruit basket, Trash can etc. b. Price: Price is a amount of money which is charged for a product or service. We have charged reasonable price for our customer, which is easily affordable for our customer. We have different types of package like terracotta package. We priority any customer needs. Nobody‟s necessity is tiny to us. By using market penetration we can make a very high profit within short time. For using low price our sell will be high. Our per unit cost will be also reduce for unique selling so that we can achieve our success very short time. c. Place: Place is very important for any business. Success of business depends on strong distribution channel. Our distribution channel is very strong. In some markets distribution channel is complex because of existing product. We sell our product through our showrooms & retail shops. we select some specific place for our shop for selling our products so we‟ll easily sell our product easily. We select Dhanmondi, Gulshan, Banani, Basundhara and Uttara for selling our products. d. Promotion: We promote our products by using different policies. We promote our products through Advertising Personal selling Advertising: We advertise our product via internet (own website), bill board, print media like noksha page of Prothom- alo. The reason of choice Noksha page is our target consumer are mainly women‟s. So that people can understand about our product easily. Personal selling: For personal selling we‟ll appoint some strong qualified salesperson who represent our company to customers by communicating, selling, servicing, information gathering relationship building to the customers. Besides sales person customer can buy our Biplab Babu [email protected]
- 13. P a g e | 13 products from our main showrooms or sub-showroom. We have 3 main showrooms. There are in Dhaka, Chittagong & Sylet. Inside Dhaka we have some sub-showrooms. That‟ll be situated at Dhanmondi, Banani, Gulshan & Bashundhara. 4.3 Distribution channel: All decisions, goals & future plans are taking in our meeting. Then give direction to our worker where we manufacture our product. Then final goods are shifted to our showroom & finally sold to our customers to domestic & abroad. 4.4 Selling system: Our product sell trough showroom, sub-showroom, online & sending abroad through Fedex. Any one from Bangladesh would be get home delivery with a minimum charge by the quantity. We‟ll take Debit, Credit & MasterCard transaction. Customer get total product category in our website with an image of each product & ordered through online also can ordered from Facebook fan page. 5.0 MANAGEMENT SUMMARY The organizational plan is the part of the business plan that described the ventures form of Ownership. This business will start out as a general partnership business, including myself , Mr. Sanjay Saha and Mr. Washim Sazzad. 5.1. Human Resource: We‟ve a CEO who have a very good skills about Handicrafts. He‟s highly educative and experienced in this area. Under him there are two managers. They are also experienced. We‟ve a General Manager. We also have accountants, marketing manager and others administrative manager who have lots of experiences. The each engineer has 10 workers and technicians. There are also supervisors under each departmental manager. Biplab Babu [email protected]
- 14. P a g e | 14 5.2 Management Team Background: The business will be formed as partnership business. The entrepreneurs of the business are Mr. Biplab Babu, Mr. Sanjay Saha and Mr. Wahim Sazzad with 50%, 30% and 20% share of investment and profit respectably. Mr. Biplab Babu (BBA in Management Studies at BSMRSTU) Mr. Sanjay Saha (BBA in Human Resource Management at NUB) Mr. Washim Sazzad BBA in Marketing at AIUB 6. PRODUCTION PLAN 6.1 Manufacturing Our products will be manufactured at the production outlet. There will be a separate portion behind outlet that will serve as production area. We will produce the products ourselves. A joint production will be made by all the members for production process. Creative ideas for innovative products will be explored through brain storming sessions. Production process includes: a. Purchase of material and accessories b. Production process c. Packing 6.2 Merchandizing Craftworld has also planned to acquire finished products from household artisans to sell them on reasonable prices for earning profit both parties. Thus craftworld is not earning for itself but also serving as platform for those investors who want to commercialize their handmade products. Biplab Babu [email protected]
- 15. P a g e | 15 7.0 FINANCIAL PLAN As we are starting a handicrafts company, we have a huge financial budget plan.. At first we are intending to buy land for setting our business. We‟ve decided our manufacturing company will be at Kajla, Motihar Rajshahi. For getting a land and making building structure of our handicrafts Company whatever the cost is needed we‟ve mentioned above. We‟ll buy our all accessories and machineries from China. Because they are popular to do it and also they take less cost from another country because of their employee cost is not as much as high in other countries. For our plant we will have to pay Machine settlement cost, Transportation cost, Engineer cost etc. For our product‟s promotion we are taking more budgets in marketing than advertising. Because we know marketing is the best way to increase our product sales. We are hoping that we‟ easily reach our break-even point within 7 months. Management cost is including with salary, we also categorize employer‟s salary with their skills. Here is a huge expense to buy, transportations, maintenance etc. General Assumption Amount (Taka) Receipts : Sales 50,00000 Disbursements : Land 1,500000 Structure 970000 Plant 1000000 Setting (Machine & Transportations Cost ) 1,000000 Raw Materials 1,300000 Advertising 15,00000 Marketing 15,00000 Management 40,00,000 7.1 Pro-forma income statement for the first year Particulars Amount Sales Less: Cost of Goods Sold 160500000 20000000 Gross Profit 140500000 Biplab Babu [email protected]
- 16. P a g e | 16 Gross Profit percentage 87.54% Less: Operating Costs Sales & Marketing exp. Administrative exp. Depreciation exp. Maintenance exp. Utilities exp. 2000000 5000000 14500000 500000 100000 Total Operating Cost 22100000 Profit before Interest & Tax 118400000 Less Interest expense 35000000 Profit before Tax 83400000 Less Tax 0 Net Profit (After Tax) Net Profit percentage 83400000 51.96% (Note: All those costs and revenues are rough estimates. Actual may vary) 7.2 Pro-forma Cash Flow Statement of first year Particulars Amount Cash Received: Cash Received from Operations: Cash Sales Cash from receivables 60000000 100000000 Subtotal Cash from Operations 160000000 Additional Cash Received: New long term liability New investment received 700000000 800000000 Subtotal Additional Cash received 1500000000 Biplab Babu [email protected]
- 17. P a g e | 17 Total Cash Received 1660000000 Cash disbursement: Cash Spending for Operations: Cash Spending Payment of Accounts Payable 7600000 20000000 Subtotal Cash spending for operations 27600000 Additional Cash Spent: Purchase of land Purchase of building Purchase of machinery Purchase of other fixed assets Interest payment 600000000 200000000 300000000 100000000 35000000 Subtotal Additional Cash Spent 1235000000 Total Cash Spent 1262600000 Net Cash Flow 397400000 (Note: All those costs and revenues are rough estimates. Actual may vary) 7.3 Pro-forma Balance Sheet of first year Particulars Amount (taka) Assets: Current Assets: Cash Bank Account Receivables 7400000 390000000 500000 Total Current Assets 397900000 Fixed Assets (land, building, machinery & Other fixed Assets) 1200000000 14500000 Biplab Babu [email protected]
- 18. P a g e | 18 Less : Accumulated depreciation Total Fixed Assets 1185500000 Total Assets 1583400000 Liabilities & Capital: Current Liabilities 0 Long term liabilities 700000000 Total liabilities 700000000 Paid-up Capital 800000000 Retained Earnings 83400000 Total Capital 883400000 Total Liabilities & Capital 1583400000 (Note: All those costs and revenues are rough estimates. Actual may vary) 7.4 Pro-forma Sources & Application of Fund for the end of first year Particulars Amount(Tk.) Amount(Tk.) Sources of funds: Long term loan Personal funds Net income from operations Add depreciation 700000000 800000000 83400000 14500000 Total funds provided 1597900000 Application of funds: Biplab Babu [email protected]
- 19. P a g e | 19 (Note: All those costs and revenues are rough estimates. Actual may vary) 8.0 ANALYSIS AND FINDINGS 8.1 Environmental Analysis (PESTEL) Several factors in the macro environment of a business are responsible for impacting business decisions made by management of any organization. The model consists of six different factors namely Political, Economic, Social, Technological, Environmental and Legal and seeks to analysis the business environment of an organization. a. Political Forces Political forces can highly influence any business. In Bangladesh, there is so much political instability which directly affects affects economy because purchasing power of people will be reduced. b. Economic Forces Economic forces of any country can affect the availability, production and distribution of resources among competitive users. Now a day in Bangladesh inflation is prevailing and it can affect Craftworld to a great extent. c. Social Forces Social forces of any country show the values, needs and culture of that country;s people can affect the organization. In case of Craftworld this factor is highly in favour of organization because people have great tendency to like handicraft items. d. Technological forces Technological factor in this project in a way that consumers can order products online. No rocket science will be adopted by Craftworld for production process. Basically, idea is Purchase of land Purchase of building Purchase of machinery Purchase of other fixed assets Interest payment 600000000 200000000 300000000 100000000 35000000 Total funds expended 1235000000 Net increase in working capital 362900000 1597900000 Biplab Babu [email protected]
- 20. P a g e | 20 providing handmade items, so Craftworld eays of utilizing waste material will be explored. e. Environmental Forces Environmental forces includes changes in weather, global climate, natural calamities etc. We assume that this category would not significantly affect our business in near furure. f. Legal forces Legal forces deals with the legal environment in which our firm would be operational. Legislative change made by the government might impact the organizations behaviour 8.2 SWOT Analysis: Every business has Internal Strength –Weakness & External Opportunity- Threats. We must Analysis. Big profits are depending on proper SWOT analysis. SWOT analysis of Our business are given blew: a. Strength: Diversification: Handicrafts has a various product line. So, it has a large market & capturing the potential market. Cheap labour: Many people interested to do handicrafts work. So, labour are cheap in this business. Low barriers: Actually there have no major barriers to enter handicrafts market. Only need a trade licence & need capital through our plan. Biplab Babu [email protected]
- 21. P a g e | 21 Innovative and Passionate Partner: All the partners are very much energetic, innovative and has a great passion to the work. Strong market research before entry in the market: To make entry in a new market, strong market research will be conducted b. Weakness: Lack of skilled labour: In this sector have not enough skilled labour. Skilled labour can add a new era of this business. They can make handicrafts market more attractive. Less interest: Today‟s young generation are interested to buy mechanical product. They think handicrafts only for old generation. Lack of promotion: Handicrafts market demand is not so very high. For that reason many publication company don‟t interested to give advertise of handicrafts. Lack of practical experience in mass production of stock: Pure knowledge about the production is not sufficient. c. Opportunity Rising Demand: Demands of handicrafts are rising day by day in developing countries. This is a positive side for this business. Developing Fashion Industry: Now people are interested on fashion. Fashionable product has huge demand on today‟s market. Tourism Sector: Our country are developing in tourism sector. Tourist have interest on this type of products. No direct competitor: No direct competitor in Bangladesh Market. Availability of supplier: Easy availability of supplier providing innovative products. d. Threats Competition: There are many old and renowned competitors in this sector. As a new it‟s a great problem. Quality Products: Quality products are produced by many renowned companies. For new company it‟s difficult to control the quality. Biplab Babu [email protected]
- 22. P a g e | 22 Decreasing purchasing power: Decreasing purchasing power of people due to political instability in the country. 9.0 RISK MANAGEMENT Opening a new company in a new industry has its limitations especially because of the political instability in the country. We also have some different problem to start our business. The major issues that might be a barrier to our company: Political pressure for investing in a new industry Price exploitation Waste management Working conditions and treatment of workers etc. To solve this kind of problem we will take some step: We will do a insurance policy for our industry and also our workers For Transportation, we will use our personal van To satisfy our workers we provide many different types of advantages. Like bonus, treatment cost, vacation etc. 10.0 MILESTONES Milestones are a very important aspect of a business plan. They provide concrete, achievable, yet lofty goals that the business must concentrate on. By targeting lofty goals, Craftworld ensures that it is aiming high, therefore it is more likely to achieve more. The milestones that Craftworld has chosen are very specific to the company and will be embraced by all employees. To enhance business activities all over Bangladesh To capture maximum market share To provide a wide range of innovative and creative products To build strong customer relationship Increase product lines. Biplab Babu [email protected]
- 23. P a g e | 23 11.0 CONCLUSION: Handicrafts are a valuable part and culture of the Bengali people. Besides regular basis, people buy handicrafts on special cultural occasion such as pahela Falgun and Pahela baishakh. Sometimes teenagers and members of the family buy handicrafts as a gift. So, only for this occasion, we decide to offer many kinds of package for them. Our main motto is getting profit with customer satisfaction. For that, we try to provide best service for the customer. We also provide some other facility such as ATM Booth and kids‟ zone. We use market penetration for pricing our handicrafts. So that, consumer can gets our products with a low price. Also, our project and marketing strategies are explained in the marketing and promotion mix. We hope that people will get the best service from us. Because in here, we are not selling only handicrafts, also we are giving people our hope and love for handicrafts which come from the core of our heart. Biplab Babu [email protected]
- 24. P a g e | 24 12.0 REFERENCES http://en.wikipedia.org/wiki/Handicraft [Referenced 02.06.2016] http://www.crafts.com/business-reports/bangladesh-handicraft-industry/swot-analysis- handicraft-industry.html [Referenced 08.06.2016] http://www.creativehandicrafts.org/ [Referenced 02.06.2016] http://www.banglacrafts.org/ [Referenced 14.06.2016] www. Eventive.com [Referenced 12.06.2016] Biplab Babu [email protected]
- 25. P a g e | 25 Biplab Babu [email protected]
- 26. P a g e | 26 Biplab Babu [email protected]
- 27. P a g e | 27 Biplab Babu [email protected]
- 28. P a g e | 28 Biplab Babu [email protected]
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Create a Craft Business Plan
Develop a craft business plan for the upcoming year, and set your business up for success.
This 18-step action plan will guide you through strategic choices and help you become more focused and ready to maximize opportunities as they arise.
When you see the words "business plan" you might immediately think of the traditional kind of plan that requires things like market analyses, organizational charts, and detailed financial projections.
Don't panic!
We're not talking about writing a colossal formal business plan. As a craft business owner, you probably don't need a formal business plan.
You do require a roadmap designed for the needs of a handmade business to help you:
- create products shoppers will love
- meet important deadlines (like craft show application closing dates)
- set smart goals
- and use your time productively
Create Your Craft Business Plan
Here's what we're going cover to develop a craft business plan that will help set you up for success for the upcoming year:
- Research craft trends for 2022 - So you can create products that reflect what shoppers want to buy.
- Set realistic goals - So you have a clear vision of what you want to accomplish in the upcoming year.
- Build effective work habits - So you can get down to work and get things done.
- Research juried art shows & studio tours - So you don't miss important application deadlines. Selling at craft shows requires a surprising amount of advance preparation.
Research craft trends for 2022
In December, companies like Etsy and Pinterest release trend reports for the upcoming year. January a great time to dig into some of these reports, see what customers might be searching for in the coming year, and decide if and how you want to reflect some of those trends in your own business.
Action Steps:
1. Learn about craft trends for the current year
Each year, I review the newest trend reports with an eye toward understanding trends that are most relevant to craft business owners. Check out my article Crafts That Sell Well - updated for 2022 to see what design trends might impact your sales in the coming year.
2. Find design trends on Pinterest
I follow several companies that publish fashion and decor trends predictions and share their reports on Pinterest, so you can find them quickly.
I have three boards for 2022 - one for color trends, one for spring / summer, and one for autumn / winter.
Here's where you'll find my 2022 boards:
- 2022 Color Trends
- 2022 Spring / Summer Trends
- 2022-2023 Fall / Winter Trends
3. BONUS: Check out some trends reports yourself
If you want to take a more comprehensive look into trends predictions for 2022, go beyond my article and Pinterest boards, and check out the original reports yourself.
I couldn't possibly report on every trend for the year, so there are plenty I didn't cover. You might find something inspiring for your own business in one of these reports:
- Pinterest Predicts 2022 (Pinterest's report on searches trending for 2022)
- Etsy Marketpplace Handbook Early 2022 Trends Report (Report on searches trending on Etsy going into 2022)
- More Home & Fashion Trend Forecasting (List of several trend forecasting sources I follow)
4. Decide if you want to reflect any of the trend predictions for 2022 in your business
Do current trends fit with your brand? Would embracing certain trends advance your craft business plans and goals? You'll need to determine for yourself the right balance between trendy and classic for your company.
5. Decide how you will reflect 2022 trends in your business
If you do want to embrace a trend or two, you'll need to decide how that will look. Will you incorporate hot colors? design motifs? a specific type of product? a particular frame of mind or philosophy?
Of course, you can reflect trends in your product design, but there are also other ways to embrace trends. You could reflect trends in your craft booth merchandising, your product packaging, or your communication with customers as well.
Set realistic goals
Realistic, motivating goals that are in line with your values should be at the heart of your craft business plan.
A business plan is a road map to get to a specific destination. Your goals are the destination.
Time spent reflecting on your core goals and values will help ensure you make plans, decisions, and commitments throughout the year that will lead you to create the type of business you really want.
6. Define your priorities
You can't possibly do it all, so you need to decide what's really important. What do you want to do extraordinarily well, and what are you willing to let go of to achieve that goal?
If you set compelling priorities , you can actually accomplish more by doing less but doing it better.
7. Consider where you want to be long term
When you know where you want your business to be next year, you'll be able to make better decisions about how to invest your time.
With your ideal business goals in mind, you can work out the steps you need to take to get from where you are to where you want to be. You'll be better equipped to make strategic decisions to work on projects that support your vision instead of bouncing from day to day on tasks that don't lead to your big picture goal.
8. Tie your goals to actions, not outcomes
For the most part, you can control whether you follow through on a commitment to action. You can not control the outcome. So if you want to stay motivated to accomplish something big, your goal needs to revolve around actions, not outcomes.
The SMART goal setting technique is all you need to set realistic, motivating goals that are tied to actions.
I earn a commission for purchases made through links on this page. To learn more, please see my disclosure .
9. BONUS: Reassess your values, priorities, and goals
If you're up for investing some time to make sure you're really building a business that's in line with your values, you need to read Busy: How to Thrive in a World of too Much by Tony Crabbe.
I've read stacks of popular books about setting and achieving goals.
Honestly, I didn't like many of them.
Most other books on the subject assume you have total control over vast swaths of time. You just need to learn to use all of that time well.
I don't have vast swaths of wide open time. I'm willing to bet you don't either.
That's why Busy is the one book about priorities and goal setting that completely blew me away.
The book centers around the assumption that your time is finite and precious. It completely changed my perspective and transformed how I approach life and business goal planning.
Build effective work habits
What's at the heart of achieving your smart goals and following through on your craft business plan?
Habits will get you further than willpower. Willpower is finite and requires emotional effort and energy. Habits, once established, happen automatically.
Research shows that habits account for a full 45% of our daily behaviors ! If you can consciously develop more constructive habits, you could potentially get 45% of your day right automatically.
10. Determine the habit you want to build
Remember, you can't do everything, and often you can accomplish more by doing less. So choose one or two habits that will have the biggest impact on the goals you set for your business.
Commit to building those one or two most impactful habits.
Stay focused.
Don't let yourself get distracted by other enchanting ideas. You can add more habits in the future once the first one is more firmly established.
11. Use proven habit building strategies
Habits work on a predictable cycle:
- cue (the trigger)
- routine (the established behavior)
- and reward (the benefit from the routine)
If you can recognize and redirect the habit cycles that drive your own routines, you have a much better chance at changing them successfully.
12. Manage your motivation
Even with the best habit cycle in place, you'll need a degree of motivation to persist through inevitable low points. Your reasons to continue have to outweigh your reasons to stop.
If you find your motivation is slipping, use some of these strategies to boost self motivation .
13. BONUS: Learn habit building strategies that Suit You
There's another book in the achievement genre that has actually been extremely helpful to me — Better Than Before by Gretchen Rubin.
The book is written around the premise that were are all different, so different types of habit building strategies will work for different types of people. It shows you how to use practical, actionable strategies that suit you and work with your natural inclinations, not against them.
If you want to take a more comprehensive look at habit building, I think you'll find a lot of value in the strategies that are taught in Better Than Before
Research juried art shows & studio tours
If you're new to selling at craft fairs, January might seem shockingly early to start planning for shows that won't happen for another 6-11 months.
Many shows open up the application process several months in advance. If you want to start selling at a few craft shows this year, you need to start planning sooner rather than later.
14. Find craft shows & studio tours that interest you
Your local arts association or crafts guild will be an excellent resource for finding shows in your area. They probably even publish an annual craft show directory for your area.
15. Note important deadlines and application requirements
A craft show directory is a great starting point for finding shows in your area, but occasionally craft show directories contain mistakes. When you check deadlines, go directly to the show's website so you can be sure you're getting important information directly from the source.
Important craft show dates include:
- when applications will be available / the first day you can submit your application
- the application deadline
- when those who are accepted will be notified
- booth fees due date
- show date(s)
While you're checking deadlines, you can also look for other important information about the craft shows that interest you such as:
- organizer contact information
- how to apply
- where to get an application
- application requirements (be sure to check the requirements for product and booth photos)
- show location
- any unusual show rules
- information about past show attendance if available
- any information available about types of vendors (e.g. Is the show for handmade items only? Are there limits on the number of vendors allowed in each category?)
All of that information will help you to assess each craft show and decide which ones you'd like to attend.
Art studio tour organizers also typically start accepting applications for both spring and fall tours quite early in the year. If you think you might like to participate in your local studio tour, start your research now. Your arts association will have information about that event as well.
16. Get fabulous photos of your products
Your product photography can make or break your craft show application. Whether you hire a pro or take the photos yourself, craft product photography is no place to cut corners in your juried art show applications, particularly if you're applying to more competitive shows or if you're applying to a competitive category like jewelry or painting.
You might not need to start your applications in January. That will depend on the deadlines for shows you'd like to attend.
Just don't wait until the last minute to apply to juried art shows that interest you. Complete your applications thoroughly, carefully, and in a timely manner.
18. Plan to attend as a customer if you won't be a vendor
There may be shows that interest you but you can't attend this year because you're not ready for them, or you were not accepted. Put those show dates in your calendar, and plan to attend them as a customer if at all possible.
You'll be able to check out the vendors, see whose booths are full of paying customers, and learn what works so you'll be ready to apply to those shows in coming years.
More Craft Business aCtion Plans
Craft photography tips.
15-step craft photography action plan shows beginner product photographers everything you need to know to take great photos of the items you make to sell.
Craft Show Set Up Ideas - Easy 8 Step Guide to Create a Great Display
Craft show set up ideas & photos. Use this easy 8 step guide to create your own fantastic craft fair display booth.
How to Start a Craft Business Right
How to start a craft business right. Here's how creative entrepreneurs can find accurate information to register a business, set up books & complete other business admin tasks to lay a solid foundation for your creative business.
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The One Page Business Plan for Makers & Handmade Biz Owners
Most makers don’t have a business plan. For a lot of us, we never intended to be business owners. We just liked making things.
Eventually, somewhere along the way that changed into a way to make some extra money on the side, a way to create flexible working conditions, or even just a way to get paid to make things.
When you slide into building a business, you often skip the foundations. It all seems like a bit of an experiment so business plans and strategy feel like something for later. You just want to figure out whether you can make this thing work before thinking about any of that stuff.
But here’s the problem with that approach.
Business is ALWAYS an experiment. It’s never done. Just like life, there’s never a point when you’ve got it all figured out and you’re just doing it.
So, all that time you’re just “trying to figure it out?”
You’re doing it. You’re running a business.
But without any kind of plan, you’re taking the long way around. And no, “make enough sales to live on” is not a business plan.
So, what is a business plan and why do you need one if you already know you need to sell more?
A business plan is document that sets out how your business will function. It sets out what you want your business to look like. But business plans don’t need to be some huge, boring document that’s painful to create.
If you’re trying to secure funding then your business plan generally needs to follow a set format but if it’s just a roadmap for you it can take any form you like.
So it doesn’t have to be a dry, boring document.
You could sketch or draw your business plan, you could make a business plan vision board, you could write the story of your future business.
You can make your business plan as creative as you want, as long as it gives you clarity on a few simple questions.
Questions like:
— What do you want your business to provide for you? — How much money do you need to get this? — What products do you intend to sell? — How many of them do you intend to sell? — Who will you sell them to? Be as specific as possible — What will you do to find a large number of these people? — How will you continue to sell to them?
It should be fun to think about this stuff. To think about what it is you want your business to provide for you and for your customers.
But there are also other benefits to creating a business plan, the biggest one being that this kind of clarity about what you want makes it easy to overcome some of the most common problems faced by makers.
1. Lack of direction and problems with decision making
It becomes SO much easier to make a decision when you have something to measure it against. When you can think about a decision and consider whether your choice will bring you closer to your business plan or not, it’s simple to know which path to choose.
2. Money Mistakes
A lot of makers waste a large amount of money on expensive shows and advertising that don’t bring any real benefits. It’s also very easy to overbuy materials and equipment when you’re first getting started. But if you know exactly how many products you need to sell to make a profit on that fancy stand or that glossy advert, it makes it easier to avoid getting carried away.
3. Overwhelm
Overwhelm is such a common issue for makers and so much of it comes from having so many things you COULD be doing, but no idea which one you SHOULD be doing. A business plan helps you focus on the most important things – getting your work in front of more of the people most likely to become customers, getting those people to sign up to hear more from you and then making them fall in love with you. (If you don’t know how on earth you would do this, check out Mailing Lists for Makers: Part Two, which walks you through creating an automated sequence to turn subscribers into buyers)
4. Distractions
So often we find ourselves getting massively distracted when we don’t know where to start.
Think about it, how often do you find yourself hopping on to Facebook when you don’t know what to write in a difficult email or a tricky section of a blog post (ahem)?
Or what about the distractions we can’t just switch off? Health issues, friends and family who need us, that annoying person who always seems to be doing work on their house?
When we have a limited amount of time to work on our business because other things keep getting in the way it certainly helps to have something to remind you of what you’re doing and why. Your business plan can do this for you and help you quickly figure out what the priority is today.
So, are you ready to create your one page business plan?
Click here to download my One Page Business Plan Template
But remember, the business plan sets out the destination. It doesn’t set out the route. Your strategy is the route. If the Business Plan is the What, your strategy is the How. Or at least the How I’ll try first.
Because running a business is really just a series of experiments to see what works – with a bit of common sense thrown in.
It’s all about testing different things and finding out what works for your lifestyle, your income goals, the way you want to work, the customers you want to serve, the life you want to have. And that’s different for everyone.
While you’re looking for that How, it can be easy to get off track. It can be easy to follow experts and other makers into the rabbit hole of a new social media platform, or to get worried about missing out on a new art show. This is where your Business Plan keeps you grounded. It keeps you focused on the destination so that, unlike Alice, you don’t need to take the long way.
Of course things always change and your Business Plan doesn’t need to be rigid. In fact you might even make it a yearly exercise to revisit and review both the destination (your Business Plan) and the route (your Strategy)
I'm Nicola Taylor
I’m the founder of Maker’s Business Toolkit and I help artists, makers, and handmade business owners to make more money with less stress.
Click here to find out more about me.
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Can Creative People Stick to their Plans?
We’ve all seen those articles about how creative people are special. Probably when we were scrolling social media, procrastinating on some task for our business that we know we need to do, but don’t know how to start. They’re clickbait for creatives. And they make us feel good. We feel special – like we have some superpower that only a few are blessed with. But we probably should also feel a little patronised and undervalued too.
Step-by-Step Sample of a Craft Business Plan
Reality Check
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Having a passion for arts and crafts is a great place to start, but that does not mean you should completely overlook the importance of having a solid plan to back up your interests.
While being passionate about your product is a great place to start, you need to put a plan into place that will help you to start, build and grow your business. That is where this sample of a craft business plan can help you to focus on your goal of being a small business owner.
After putting all the pieces into place, implementing them is much easier, and your excitement for your passion project will translate into a passion that is reciprocated by your customers.
Creating a business plan will provide you with a solid basis from which to start your craft business. Generally, most business plans follow a similar format , and this sample of a craft business plan includes the following areas:
Executive Summary
The Executive Summary pinpoints the main bulletpoints of your business, offering a quick glance at the most important aspects of your small business and what you hope to achieve. These can include:
Our ideal customers are females between the ages of 20 to 40. Our clients pride themselves on wearing fashions that express their individuality and they choose our designs for their creative styles that are both fashion-forward and can be worn for years to come.
Mission Statement
The Mission Statement should include your intentions for your company
Product/Service Description
Each piece in the Sparkle Jewelry Designs line is handcrafted in limited edition batches.
This provides a much sought-after appeal to our pieces, while offering unique designs that are handcrafted to the highest standards specifically for our customers.
This also allows us to apply the highest level of craftmanship to every piece in the Sparkle Jewelry Designs line.
Marketing Plan: Reaching Your Target Market
Sparkle Jewelry Designs are currently sold via our online website, which receives traffic flow from our various social media pages on Facebook, Twitter and LinkedIn.
We plan to market our jewelry via these online spaces, as well as through various blogs that our shoppers read. Our sales will be tracked online via Paypal, which we will use to collect payment, as well as run & print monthly reports of all sales & expenses.
Our clients love fashion but they are not satisfied with mass-produced, cookie-cutter accessories. They seek out our brand for our attention to detail, custom designs, and the personal touch that comes with our handcrafted designs.
Financial Information
Since Sparkle Jewelry Designs will be run from our home, our start-up expenses will be minimal. Our expenses will be web hosting, domain registration and minimal advertising costs. We will also need to purchase packaging materials for our orders, and to pay a minimal fee for each sale by using Paypal as our payment processor.
Final Thoughts
While your aim is to make your business plan as professional as possible, don’t think that you cannot be creative with your business plan. Creating a small craft business plan will allow you to see your entire business laid out before you, and give you a snapshot of how you can live your dream and make money doing so.
Inserting your personality and the passion you have for your craft business idea will translate into a compelling document that will help you propel your business forward.
- Emprendimiento
Handicraft Business plan. DIY Creative Workshop
- L Liu Jiaping
- 12 minutos de lectura
With the continuous development of the economy, people’s work and life pressure is increasing, it is difficult to really relax. Aiming at this business opportunity, we decided to create such a slow-life DIY creative workshop . This is a DIY Creative Workshop run by a college entrepreneurship team. Its main business is DIY clay painting, DIY ceramics and handicraft, as well as time courier service and milk tea snack service. Although there are some DIY workshops or time slow delivery service stations, but we are better in a comprehensive, both have everything. We will strive to develop more services to attract more types of consumers and stabilize our market share. In a word, we are right to choose.
DIY Creative Workshop – Handicraft Business plan
Our company is called DIY Creative Workshop , which is a comprehensive Slow Living Service hall. The company’s main businesses are DIY clay paintings, DIY pottery and handicrafts, and time delivery service and milk tea snack service. Our shop will be located in the commercial street near the bustling Autumn Square. There are two main sources of funding for us: members’ s equity and our crowd-sourcing.
Each team member’s share is divided according to the proportion of capital contribution, one vote per share. Each team member is a partner, sharing the decision-making power and the management power of the company. The company temporarily operates DIY clay painting, DIY pottery, time slow delivery, milk tea snacks four major services, shop assistants are also divided into four groups, each group selected a foreman responsible for the work of their shop assistants. For the management of shop assistants in four sectors, a competitive management model is adopted.
Which group has the highest performance and the best service is rewarded. Fiscally, we adopt the principle of openness and transparency, and all accounts should be open. The company’s short-term plan is to seize the market as soon as possible and recover costs. The long-term plan is to retain customers and maintain or even increase market share.
Products and services DIY Creative Workshop
Diy flower-clay painting.
Flower clay painting is a kind of craftsmanship and art work which is mainly made of special color clay. Flower clay painting is a new type of relief craft decoration painting with vivid color and relief effect. The pigments used in this process are an environmentally friendly soft color mud, which can be easily painted on cardboard, wood, porcelain, stone, cloth, glass and other hard materials. They have strong adhesion and can be used to tone each other. Pigments in the picture are raised and layered distinctly. After natural drying, the color mud pigments are hard as stone, with bright colors, trendy fashion, non-fading and non-falling off, and can be preserved in good condition for a long time. Deposit. Put the mud paintings on the frame, that is to say, they are beautiful decorations that can be hung and placed in the home, office and other places.
Flower clay painting has a wide range of themes and is made at will. Like rubber clay, sand painting and hand-made pottery, it is a new art that advocates self-use, brain-use and personal imagination. It not only enlightens children’s art, but also plays an important role in cultivating adolescents’ practical ability, creative thinking, color allocation and so on. It can help children to achieve continuous success. Experience of Gong. Children’s self-made clay paintings are precious gifts for their classmates and friends. They are also exquisite decorative paintings, which can be taken home or sold. They are healthy after-school interests. They can not only keep away from learning, but also keep away from games and Internet cafes and gradually cultivate good thinking qualities such as patience, meticulousness and creativity. Children are happy, parents are happy, everyone has a sense of achievement!
Here, children can create by themselves, cultivate their hands-on ability and thinking ability; couples can make love gifts for their loved ones to increase intimacy; pot friends can play with each other and enhance friendship. Here, everyone can find their own fun, spend a good and full period of time, leaving the most precious memory.
DIY Ceramics
Similar to DIY clay painting, DIY pottery is also a good way to enhance feelings and relax. I personally experience the birth of one piece of ceramics, just like a baby I personally nurtured, is it a sense of accomplishment, well done can also take home slowly to appreciate, become a collection carrying precious memories. This activity is very helpful to relax the body and mind, release the pressure, for those enterprises white-collar workers who are under too much pressure, absolutely must not be missed.
Slow delivery of time
Slow delivery is the same kind of mail delivery service as ordinary post office. The only difference is that the time of delivery is decided by the sender himself. Slow delivery is a similar way of behavioral art, reminding people to pay attention to themselves in the rapid development of modern society. It has become popular in big cities in China. The concept of slow delivery can be understood as the creative combination of «time capsule» and «traditional letters». «Time capsule» is also called time capsule, time capsule, time capsule, cultural relics capsule, and time cultural relics concealer. It is an internationally popular way to commemorate important events. The specific method is to put the cultural relics, materials and objects that record important events into sealed utensils and bury them underground for a long time, such as 50 or 100 years, and then take them out.
Neglecting the «slow delivery» of time can slow down the squeeze of the concept of time on people’s lives in industrial society. The inconvenient emotions expressed directly in life can alleviate the sender’s anxiety and help relieve stress by prolonging the time of receiving letters. In the instant of receiving the letter, the space-time dislocation occurs, reminding people not to forget the most precious memories and expectations in the fast-paced life style. Stop and think calmly about what is really worth cherishing.
Customers of the courier service include people of all ages, mothers-to-be, a letter for the baby to be born, and the boy who is lovelorn chooses to tell his girlfriend the helplessness of his choice after five years. Just so so. . . . . .
Write to yourself in the future, remember the ideals at the moment, pour out the distress at the moment. . .
Write to your future wife about the image of your ideal wife and your expectations for her. . .
Wrote to the future husband, Tucao why he is reluctant to appear. . . . . .
Write to the future baby, looking forward to his or her healthy growth. . .
Write to parents, friends and classmates a few years later and tell them what you want to say to them but can’t say at the moment. .
Are you ready to take this slow delivery to the future?
Milk tea and snacks
Milk tea and snacks are bundled as additional products. When you are happy to complete your creation, do you need some drinks and desserts?Is it especially good to enjoy the delicious food while enjoying one’s own works?Or would it be more efficient to go downstairs for an afternoon tea when you are tired at work and then shake your spirits?
Marketing and Marketing
Market positioning DIY handicraft
The flourishing development of DIY handicraft can not be separated from the change of people’s consumption situation. From satisfying food and clothing, we can now satisfy our psychological desire and publicize our personality.
So our market positioning is mainly for young couples who have the ability to consume and want to satisfy certain psychological desire, white-collar workers of the company, relatives and friends who are going out to gather. For different groups of people, we will introduce different choice packages, such as couple packages, parent-child packages and Party packages, to meet their different needs. Different packages have different contents, different prices and different preferences. For groups with large numbers, they can also be offered group purchase prices.
Marketing propaganda DYI
Before opening, we will have corresponding publicity to attract customers. For example, handing out leaflets, distributing push and advertising on the Internet, and launching sponsorship activities in the circle of friends, etc.
Three days before opening, we will have more concessional activities, such as 28, 58, 128 compliments, corresponding reduction and exemption activities, while also giving small gifts, surprises, such as our special milk tea snacks free trial, discount purchase activities. In short, every effort should be made in the first three days to attract customers, retain customers and accumulate reputation.
In the latter period, we will occasionally surprise customers on holidays, such as buying three free one and so on. At the customer’s birthday, it will also give customers a certain discount, in a word, only you can’t think of it, we can’t do it without it.
Business plan DIY Creative Workshop
Production of coloured clay pigments and finished coloured clay paintings for sale.
Coloured clay painting is a fashionable decorative craft painting which is popular in the market. It mainly uses non-toxic, aromatic and non-polluting special material, colored clay, which is made by simple process and pasted with colorful clay according to the favorite patterns. The finished product resembles relief, and can also mix colors with each other. It can draw the effects of oil painting, ink painting, watercolor painting and other kinds of paintings. Coloured clay painting can be made without art foundation, and it is a new art form suitable for everyone.
Because of its novelty, fashion and elegance, many hotels, kindergartens, business offices and families use painted clay paintings as interior decorations. Therefore, the color clay painting has broad market prospects. Coloured clay pigments can also be used for students’ merchandise, crafts, leisure creation, advertising, wall decoration, relief, three-dimensional maps, art posters, paper processing, sample room modeling and other aspects. There is a large market demand.
As a part of the main business, we should make the best investment to realize its normal operation in the early stage. At the same time, we can adopt the consignment mode of «cross embroidery» to realize the benign interaction between operators and consumers and benefit sharing. At the same time, it can be sold online to provide services for the national market.
Open a Coloured Mud Gallery
On the ceiling of the Coloured Mud Gallery, decorations like vine leaves and melons and fruits are hung, and the walls are filled with finished and semi-finished paintings of various sizes. There are shelves, tables and chairs in the painted mud gallery. Some slogans are written, such as «Coloured mud painting integrates knowledge and interest, which is a new way to improve students’ aesthetic awareness, painting skills and hands-on innovation ability», «foster children’s perseverance and creativity».
Patient places, quality education gardens and matters needing attention in the production of painted clay paintings, etc., are posted inside and outside the gallery or used as advertising signs. In this elegant and civilized gallery, it will be full of artistic flavor everywhere. Operators will teach the production methods of mud paintings on the spot, coupled with funny and humorous language, which is undoubtedly a live advertisement to attract customers.
Focus on training students’ economy, through high-quality services and products to enhance word-of-mouth value, to achieve «one zone, two zones, three zones» group economy, so that consumers can experience the fun of cooperation.
Gradually follow up other sidelines
After realizing the normal operation of the main business and having a group of loyal customers, follow-up other businesses to improve the overall quality of service, enjoy comprehensive services, constantly enhance the customer’s sense of experience, and find new fun. If milk tea snacks are provided, customers can stay longer and keep the store full. Providing time delivery service enables customers to examine their own value and value their mud works more.
Plan summary Handicraft Business plan
In the first year of operation, we should realize the core business to connect customers, cultivate loyal customers, devote ourselves to the main business, focus on making our own characteristics, and deepen the impression of customers. At the same time, we sell products and services online.
In the second year, depending on revenue and business conditions, we will add other businesses, expand the industrial chain, and focus on the divergent development of core business, so as to add to our customers’ basic value.
In the third year, on this basis, we tentatively expanded the establishment of branches in other areas, strengthened cooperation with the industry, joined the branches, continuously realized the business scope, and covered the intra-city business in this field.
Management team Handicraft Business plan
In today’s world, competition in the market is in large part the competition of talents, because the goals of enterprises need to be achieved by people. The people who devote themselves enthusiastically and accomplish their work well are the most valuable resources and capital of the team.
In order to further enhance the overall awareness of all managers, service awareness, crisis awareness, market awareness and team awareness, and strive to temper their own quality and make themselves both virtuous and talented, dedicated, professional and professional talents, and become the leader and leader of the second entrepreneurship, affecting and driving the departmental staff to achieve various goals.
- Team members’ ideological and moral character can be refined and their working ability can be enhanced.
- Team members work diligently and consistently. Sales performance has been greatly improved.
- Construction object
All store managers (including deputy director and management team leader).
- Major management aspects
Develop corporate culture, formulate relevant important rules and regulations, service etiquette and safety knowledge. Everyone is required to be familiar with relevant professional knowledge, first of all, to be able to do well in clay painting. Secondly, to achieve basic staff literacy, to comply with rules and regulations, and to enhance the turnover of stores through service etiquette and other related details, to understand the basic knowledge of commodity display, commodity structure management, commodity inventory management, commodity promotion, Market Research and so on, and to be timely. Take self-criticism to a new level.
- Daily requirements
- Require managers to have a unified understanding of their ideas, improve their concepts and correct their working attitude.
- Require managers to recognize their post functions and responsibilities, and have the ability to train subordinates;
- The comprehensive quality of all managers has been further improved, the executive power of management has been further improved, and the management of stores has been streamlined, standardized and institutionalized.
- All managers of stores strictly arrange their work and rest time according to the team building plan, and ask the storekeeper for leave in case of special circumstances. Only after approval can they do so.
Financial analysis Cost of investment – Handicraft Business plan
Operating site: local schools, parks, near the Children’s Palace or children’s gathering place, a 100-200 square meters of facade, both as production areas and finished goods sales areas. If funds permit to enter large shopping malls, large passenger flow, a wide range of consumer groups, help to enhance sales and promote the formation of brand concept stores.
Investment and Conditions: Raw materials such as sketches, pens, mud, plywood and so on, plus rent, tables and chairs, simple decoration fees for the facade. Operators need no experience, are not subject to age, cultural constraints, have or not art foundation can be engaged in.
The main material of mud painting is mud paint, in addition to shop rent, simple tools and technology franchise fees, the total investment is about 60,000 pesos, and a mud gallery can be opened.
Profit analysis
If the finished picture with a frame is well-packed, it can be charged according to the size of the frame, such as inner core 15 cm * 20 cm (small), 20 cm * 25 cm (medium), 30 cm * 40 cm (large), selling at 60 pesos, 90 pesos, 150 pesos, material cost (including frame) is only 10 pesos, 18 pesos, 36 pesos; if students, children, adolescents or young people are in the clay gallery by themselves. Creation, each painting frame charges 30 pesos, 45 pesos, 90 pesos, if not, then each painting charges 15 pesos, 24 pesos, 45 pesos, material cost is only 1.5 pesos, 3 pesos, 6 pesos; a single bottle of mud (30 grams) can be sold for 6~9 pesos, but also has a net profit of 3~6 pesos.
The on-site production takes the management mode of charge first, then production, free use of materials and free guidance. Good products can be taken home or sent to people, or can be hung in the shop for people to enjoy or sell. According to the actual operation effect, the main business of a general shop can make a profit of 150,000 pesos a year, and 600,000 pesos a year if it is managed properly. In addition, with various sidelines, profits can be increased by another 50% on the previous basis.
Because of the small capital investment, there is no debt risk. In the latter stage, we should consider from point to point, and continue to occupy the market by means of alliance expansion in the city. We need to borrow part of the debt in order to achieve financial leverage benefits.
Financing return
Shop is a very «personalized» investor, whose investment will vary due to different locations, passenger flow, business scope, etc. Therefore, we can not blindly finance until we can not do enough market research and can not determine whether we can achieve net cash inflow.
First of all, we should make a full budget. Carefulness is also a subjective requirement. Small businesses can be compatible with big businesses to complete together, but we must ensure the best cash holdings.
Secondly, in order to achieve a certain scale and have certain assets, we can carry out financing, expand the business area, and produce scale effect. Choose the right operator, through operating leverage, financial leverage to further enhance profits, when necessary, the operator can be given stock incentives, but the premise is to achieve financing cost offset, not blindly enhance the asset-liability ratio, while maintaining the vitality of the enterprise, but not to make the enterprise into debt crisis.
In addition, we should make clear that the basic purpose of financing is to achieve high-level planning, improve the investment value of stores. In the choice of expanding business areas, we should lock in areas with high investment expectations, give full play to professional expertise, and ensure a high return on financing.
Editor: Liu Jiaping
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Business Plan To Open A Handicraft Work
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