gift shop business proposal sample

Gift Shop Business Plans

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Gift Novelty Souvenir Shop Business Plan

Yeti Cards & Gifts, an established retailer with a broad diverse product line, opens a second store.

Gift Shop Business Plan

Regali Luxuri is a start-up gift shop located in a newly gentrified area of old Niceburg, specializing in unique gifts, specialized printing services, and custom decorated garments.

Gifts and Collectibles Retail Shop Business Plan

Classique Gifts Etc. is a start-up retail store offering fine gifts, collectible dolls and doll accessories.

Gifts, Novelties, Souvenir Business Plan

Avant-Garde Shop will be the new flagship of Jakarta's Avant-Garde Building, offering merchandise with the Avant-Garde logo, a symbol of the new Indonesian economy.

Specialty Gifts Business Plan

Pink Lady Bug Designs is a provider of uniquely crafted chocolates, gift baskets, etc., that are sold to raise awareness and funds for women's health programs.

Are you a gift giver? Do you love seeing the expressions on your friends and families faces when you give the perfect gift more than you like receiving them? Ever think about spreading your gift of gift-giving to others by opening up a gift shop?

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Gift Shop Business Plan Template

Written by Dave Lavinsky

Gift Shop Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their gift shops. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a gift shop business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your gift shop as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a gift shop, or grow your existing gift shop, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your gift shop in order to improve your chances of success. Your gift shop business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Gift Shops

With regards to funding, the main sources of funding for a gift shop are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for gift shops.

How To Write a Business Plan For a Gift Shop

If you want to start a gift shop or expand your current one, you need a business plan. Below are links to each section of your gift shop business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of gift shop you are operating and the status. For example, are you a startup, do you have a gift shop that you would like to grow, or are you operating gift shops in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the gift shop industry. Discuss the type of gift shop you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of gift shop you are operating.

For example, you might operate one of the following types of gift shops:

In addition to explaining the type of gift shop you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

Industry Analysis

In your industry analysis, you need to provide an overview of the gift shop industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the gift shop industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your gift shop business plan:

Customer Analysis

The customer analysis section of your gift shop business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: travelers, collectors, families, and anyone looking for a gift for a friend or loved one.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of gift shop you operate. Clearly, collectors would respond to different marketing promotions than travelers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other gift shops.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes online retailers and antique shops. You need to mention such competition as well.

With regards to direct competition, you want to describe the other gift shops with which you compete. Most likely, your direct competitors will be gift shops located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a gift shop business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of gift shop company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to a gift shop, will you provide gift wrapping, gift sourcing, engraving, and any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your gift shop company. Document your location and mention how the location will impact your success. For example, is your gift shop located in a museum, a restaurant, an airport or local attraction, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your gift shop marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your gift shop, including cleaning, updating inventory, cash register reconciling, product ordering, customer interaction, and payroll and staff scheduling.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your Xth gift, or when you hope to reach $X in revenue. It could also be when you expect to expand your gift shop to a new city or location.

Management Team

To demonstrate your gift shop’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing gift shops. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a gift shop or a historian of a museum or landmark if it is a landmark/museum themed gift shop .

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you start with a small selection of gifts and expand to offer more gifts ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your gift shop, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a gift shop:

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your gift shop location lease or list of gifts you plan to sell.

Putting together a business plan for your gift shop is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the gift shop industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful gift shop.

Gift Shop Business Plan FAQs

What is the easiest way to complete my gift shop business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Gift Shop Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of gift shop you are operating and the status; for example, are you a startup, do you have a gift shop that you would like to grow, or are you operating a chain of gift shops?

Don’t you wish there was a faster, easier way to finish your Gift Shop business plan?

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Gift Shop Business Plan

Are you thinking of starting a gift shop We have prepared a solid gift shop business plan sample that guides you on every stage of your business plan writing

If you are planning to start a new gift shop, the first thing you will need is a business plan. Use our sample Wellington – Gift Shop Business Plan created using upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new gift shop business, spend as much time as you can reading through some examples of the retail and online store business plans .

Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample Wellington – Gift Shop Business Plan for you to get a good idea about how a perfect gift shop business plan should look like and what details you will need to include in your stunning business plan.

Gift Shop Business Plan Outline

This is the standard gift shop business plan outline which will cover all important sections that you should include in your business plan.

After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your gift shop business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.

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Home » Business Plans » Wholesale & Retail

How to Write a Gift Shop Business Plan [Sample Template]

Are you about starting a gift shop online? If YES, here is a complete sample gift shop business plan template & feasibility report you can use for FREE . Businesses that are worth going for are businesses that you are certain people would need your services or products on a regular basis. A business like gift shop falls into this category; you can be certain that there would be occasions of celebration that would warrant a customer to purchase gifts for friends and family members.

One good thing about this type of business is that you don’t need to enroll in a conventional school to learn how to run this type of business; it only requires basic business skills such as customer service, accounting, bargaining, people skills cum networking skills and of course overall business management skills.

If you have decided to start a gift shop business, then you should ensure that you carry out feasibility studies and market survey. Below is a sample gift shop business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Gift Shop Business Plan Template

1. industry overview.

Players in the Gift Shops and Card Stores industry retail a range of gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies, seasonal and holiday decorations. This industry does not include retailers that operate as used merchandise stores, electronic shopping, mail-order houses and discount retail stores.

If you are close observer of happenings in this industry, you will notice that the Gift Shops and Card Stores industry has displayed signs of contraction as external competition has caused the number of operators to fall over the past five years. On the other hand, industry revenue has continued to rise as consumers have increased their discretionary spending on nonessential items that are predominant in this industry.

Please note that the continued growth of per capita disposable income has also enabled consumers to travel more and purchase items from gift shops and other industry operators. Going forward especially as it relates to projecting for the five years, the industry is anticipated to benefit from rising disposable income levels and tourist activity.

Statistics has it that in the united states alone, the Gift Shops and Card Stores industry generates over $19 billion annually from more than 61,279 bridal shop outlets scattered all around the United States of America. The industry is responsible for the direct employment of over 188,120 people.

Experts project the Gift Shops and Card Stores industry to grow at a 0.2 percent annual rate between 2013 and 2018. American Greetings Corporation and Party City Holdco are the establishments with the lion market share of the industry.

A recent report published by IBISWorld shows that the Gift Shops and Card Stores industry is in the mature stage of its life cycle. The report further revealed that over the 10 years to 2023, industry value added is estimated to increase at an annualized rate of 1.0 percent, whereas US GDP is projected to expand an annualized 2.2 percent during the same period.

This industry is growing at a slightly slower rate than the economy as a whole, but its growth generally mirrors that of the US at large, which is characteristic of a mature industry. Industry revenue is expected to grow relatively consistently over this period however, intensifying competition from alternative retailers will likely mitigate any faster growth.

The market for the gift shop business is also no longer limited to a single customer or to women, especially as women once made up the largest segment of the industry’s market. The market has now expanded to include the corporate client.

The Gift Shops and Card Stores industry has minimal barriers to entry, with low startup capital and no specific licensing requirements. The majority of gift shops operate as a one – outlet business and the capital costs of establishing gift shop outlets are not substantial relative to many other retail industries.

On the other hand, the high level of competition and market saturation in a declining industry can prove challenging to aspiring entrepreneurs who want to start their own gift shop – business. Most players in the industry are small – to medium – establishments that cater to the local community.

If you are contemplating opening a gift shop business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. The truth is that if you get some key factors wrong before starting out, then you are likely going to struggle to stay afloat.

2. Executive Summary

Dora Wellington™ Gifts & Cards Shop, LLC is a registered gift and card shop business that will be located in one of the busiest market districts in Baton Rouge – Louisiana. We have been able to lease a shop facility along a major road that is big enough to fit into the kind of gift shop that we intend launching.

Dora Wellington™ Gifts & Cards Shop, LLC will be involved in retailing a wide range of gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies, seasonal and holiday decorations. We will also be involved in helping our clients wrap and deliver their gifts.

We are aware that there are several gift shops all around Baton Rouge – Louisiana, which is why we spent time and resources to conduct thorough feasibility studies and market survey so as to offer much more than our competitors will be offering.

We have delivery service options for our customers, and our outlet has various payment options. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they visit our shop.

Dora Wellington™ Gifts & Cards Shop, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position Dora Wellington™ Gifts & Cards Shop, LLC to become the leading brand in the industry in the whole of Louisiana, and also to be amongst the top 10 gift and card shops in whole of the United States of America within the first 10 years of opening our first gift shop.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are confident that Baton Rouge – Louisiana is the right place to launch our business before spreading to other parts of the United States.

Dora Wellington™ Gifts & Cards Shop, LLC is owned by Isabella Mrs. Dora Wellington. She has the experience, qualification and skill that will help grow the business to profitability within the shortest time frame. Although the business is launching out with just one outlet in Baton Rouge – Louisiana, but there is a plan to open other outlets all around key cities in the United States of America.

3. Our Products and Services

At Dora Wellington™ Gifts & Cards Shop, we have a wide range of gifts and cards, and we will engage in retailing and wholesale distribution to both individual and corporate clients. As part our strategy to create multiple sources of income in line with our core business concept, we will go into franchising and consultancy services.

Our intention of starting Dora Wellington™ Gifts & Cards Shop, LLC is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. Here are some of our products and services;

4. Our Mission and Vision Statement

Our Business Structure

As part of our plan to build a standard gift and card shop in Baton Rouge – Louisiana, we have perfected plans to get it right from the beginning which is why we are going to hire competent and hardworking employees to occupy all the available positions in our organization. Below is the business structure that we will build Dora Wellington™ Gifts & Cards Shop on;

Chief Executive Officer

Shop Manager

Merchandize Manager

Human Resources and Admin Manager

Information Technologist

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (Owner):

Sales and Marketing Manager

Accountant/Cashier

Distribution Van Drivers:

Client Service Executive

6. SWOT Analysis

Due to our drive for excellence, we were able to engage some of the finest business consultants in Baton Rouge – Louisiana to look through our business concept and together we were able to critically examine the prospect of the business to be sure we have what it takes to run a standard gift shop.

In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in our business. Here is a of what we got from the SWOT Analysis conducted for Dora Wellington™ Gifts & Cards Shop, LLC;

Our strength lies in the fact that we have a wide range of gifts and cards that can meet the needs of our customers. Another factor that counts in our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight professionals in the United States of America.

We are not ignoring the fact that offering consultancy services and running a franchise is definitely going to count as a positive for us.

The fact that we are setting up a gift and cards retailing business in a city with other leading gift and card retail outlets might likely pose a challenge for us in breaking into the already saturated market. In essence our chosen location might be our weakness, but nevertheless, we have plans to launch out with a big bang.

Opportunities:

The opportunities available to us are unlimited. Loads of people and organizations give out gifts during special periods. Americans and foreigners have begun to travel more, boosting demand for industry products. So also, there are also loads of people who would want to buy our franchise and start their gift shop business on a platter of gold; our platform will be ideal for them to fulfill that goal.

The threat that is likely going to confront us is the fact that we are competing with already established businesses in Baton Rouge – Louisiana and also there are other entrepreneurs that are likely going to launch similar businesses within the location of our business.

Competition from discount retailers will intensify as supercenter and discount store chains expand. Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face, is unfavorable government policies and of course economic downturn.

7. MARKET ANALYSIS

Market Trends

The Gift Shops & Card Stores industry has risen slowly over the last five years while combatting lackluster consumer spending and changing preferences pattern. The introduction of technology and subsequently online retail store has indeed helped in reshaping the industry.

It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their shop to meet their needs; in essence, the use of technology helps retailers to maximize supply chain efficiencies.

The market for the gift and card shop business is also no longer limited to a single customer or to women. The market has now expanded to include the corporate client. As a matter of fact, external factors such as Domestic trips by US residents and Per capita disposable income in the Gift Shops & Card Stores industry impact the overall performance in this industry.

8. Our Target Market

When it comes to gift and card sales and delivery business, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who resides in the location where we intend opening our shops. These are the groups of people we intend marketing our gift items and cards to;

Our competitive advantage

Our aim of starting Dora Wellington™ Gifts & Cards Shop, is to build a business that can grow within the first 10 years of establishing it to be listed amongst the top 10 gift shops in the United States of America. With that in mind, we have been able to come up with competitive strategies that will help us compete favorably in the industry.

Another competitive advantage we have is that we have a wide range of gift items and cards that can meet the needs of a wide range of customers. We have state of the art facility and competent workforce that has positioned us to meet the demand of products even if the demand tripled.

Another factor that counts to our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired. We are not ignoring the fact that offering consultancy services and running a franchise is definitely going to count as a positive for us.

Lastly, we can boast of having attractive product presentation and effective quality control. We are not taking for granted that our excellent customer service culture, highly competitive prices, reliable and easy to use payment options.

9. SALES AND MARKETING STRATEGY

Sources of Income

Dora Wellington™ Gifts & Cards Shop, is established with the aim of maximizing profits in the United States of America and we are going to go all the way to ensure that we do all it takes to sell a wide range of gift items and cards to a wide range of customers. Dora Wellington™ Gifts & Cards Shop, LLC will generate income by offering the following products and services;

10. Sales Forecast

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough profits from our first month of operation and grow the business beyond Baton Rouge – Louisiana to other states in the U.S.

We have been able to critically examine the Gift Shops & Card Stores industry, we have analyzed our chances in the industry and we were able to come up with the following sales forecast. Below is the sales projection for Dora Wellington™ Gifts & Cards Shop, LLC. It is based on the location of our business and our competitive advantage;

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

Before choosing a location to launch Dora Wellington™ Gifts & Cards Shop and also the types of gifts items and cards to retail, we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time and also for our products to favorable compete with other leading gift and card shops in Baton Rouge – Louisiana.

We hired experts who have good understanding of the industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market Baton Rouge – Louisiana. In summary, Dora Wellington™ Gifts & Cards Shop, LLC will adopt the following sales and marketing approach to sell our products;

11. Publicity and Advertising Strategy

Despite the fact that our gift and card shop is a standard one with a wide range of products that can favorably compete with other leading brands in the United States, we will still go ahead to intensify publicity for all our products.

Dora Wellington™ Gifts & Cards Shop, LLC has a long term plan of opening outlets in various locations all around the United States of America and also to sell our franchise which is why we will purposefully build our brand to be well accepted in Baton Rouge – Louisiana before venturing out to other cities in the United States of America.

As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand. Here are the platforms we intend leveraging on to promote Dora Wellington™ Gifts & Cards Shop, LLC;

12. Our Pricing Strategy

Generally, the prices for gift items and similar products are relatively affordable hence there is no need to employ any detailed strategy when it comes to pricing.

In view of that, our prices will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months, our gift items and cards are sold a little bit below the average prices in the United States of America. We have put in place business strategies that will help us run on low profit margin for a period of 6 months; it is a way of encouraging people to buy into our brand.

Payment Options

The payment policy adopted by Dora Wellington™ Gifts & Cards Shop, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Dora Wellington™ Gifts & Cards Shop, LLC will make available to her clients;

In view of the above, we have chosen banking platforms that will enable our clients make payment for our gift items without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for gifts purchased.

13. Startup Expenditure (Budget)

When it comes to starting a standard gift shop business, one is expected to spend the bulk of the startup capital on renting a store facility. Aside from that, you are not expected to spend much except for purchasing distribution vans, purchasing commodities, paying your employees and utility bills. These are the key areas where we will spend our startup capital;

We would need an estimate of $250,000 to successfully set up our gift and card shop business in Baton Rouge – Louisiana.

Generating Startup Capital for Dora Wellington™ Gifts & Cards Shop, LLC

Dora Wellington™ Gifts & Cards Shop, LLC is owned and financed by Mrs. Dora Wellington. She has decided to restrict the sourcing of the startup capital to 3 major sources.

N.B: We have been able to generate about $100,000 ( Personal savings $80,000 and soft loan from family members $20,000 ) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Dora Wellington™ Gifts & Cards Shop, LLC is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to retail our gifts a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Dora Wellington™ Gifts & Cards Shop will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry.

Check List/Milestone

Gift Store BUSINESS PLAN

CRYSTAL CREEK GIFTS

1329 Thompson Blvd.

Charlevoix, MI 49625

This gift and clothing store is located in a thriving tourist location. The summer season's influx of travelers will make up the bulk of this store's clientele, which has prepared carefully for it's market by choosing affordable and attractive products with wide appeal. This business plan is thorough in it's analysis of patrons and financing.

STATEMENT OF PURPOSE

Basic business definition, market analysis.

MARKETING PLAN

ORGANIZATION AND MANAGEMENT

Summary of sources and use of funds, capital equipment, start-up costs, working capital.

This business Plan has been developed as a planning, operating, and policy guide for the owners of Crystal Creek and as a financing proposal to submit to local financial institutions.

Mike and Hannah Taylor are requesting a loan of $70,000 and a credit line of $25,000. This sum will be sufficient to purchase capital equipment and beginning inventory to cover start-up costs and to provide adequate working capital to successfully initiate this new business. The legal structure will be set up as a proprietorship. The anticipated opening date is April 1, 1997.

The Crystal Creek Gifts is a year-round retail clothing store, located at 1329 Thompson Blvd. in Charlevoix, Michigan. It will service the summer tourist trade (80% of business between May-October). The merchandise carried will be men's sportswear (20%), ladies' sportswear (50%) with accessories at (10%), and gift items (20%). We aim to carry unique products and high quality apparel.

The target market for Crystal Creek is concentrated on the tourist to our area. He/she is a professional, well-educated, up-scale clientele who's taste in clothing and gifts reflect an unique, active, lifestyle. The target market income is $25,000 and higher. Crystal Creek will focus on these individuals during the tourist season, May through October.

Downtown Charlevoix attracts tourists who are walking up and down Thompson looking for items which they don't find at big city malls and an item which will remind them of their trip to Charlevoix.Thompson Boulevard also attracts a local or seasonal resident who enjoys the amenities of downtown. These include personal service, holiday shopping nights, "Friday Night Live," and the friendly atmosphere.

MARKETING PLAN: PRODUCT DIFFERENTIATION STRATEGY

To offer products that are different from competition in ways other than price.

Products and Services

Ladies apparel will consist of "groupings" of clothing which coordinate and sell each other. An example of this would be shorts, tees, and sweaters in sporty colors; cotton and twill bottoms, funembroidered sweatshirts. Menswear includes Rugby-stripe golf shirts, cotton sweaters, golf caps, and nautical and golf-embroidered sweatshirts. Brand names will be recognizable for their quality. Gift items will be moderately prices items: flowerpots, calendars, frames, birdhouses, many impulse items which will intrigue customers from the front display window.

Crystal Creek will use a 50% mark-up for fashion goods. A 60% mark-up for fleece embroidered goods will compensate for seasonal markdowns. Gift items will be evaluated for quality and priced accordingly.

The promotional budget for Crystal Creek is approximately $200 a month in the off-season, which would cover the cost of small newspaper ads. During the season, in addition to newspaper ads, the store plans to run ads in up-scale local magazines, possibly do a postcard mailing to customers.

The advantage for Crystal Creek's to be on Thompson Boulevard is tremendous. Not only does Thompson Boulevard have the best walking traffic, but being in an area of other successful stores attracts people to the area. Other advantages to downtown include participation in the Downtown Development Authority which promotes downtown throughout the year via craft shows, "Friday Night Live," holiday shopping nights, etc.

Attorney : David Stanford, Esq., 410 S. North Street, Charlevoix, MI 49625

Accountant : Linda Persimmons, 346 E. Thompson Boulevard, P.O. Box 2050, Charlevoix, MI 49625

Insurance Agent : Jerry Smith 515 Baylor Street, Charlevoix, MI 49625

Other : Rick Bameldi, Economic Development Contact for Northwest Michigan Council of Governments, P.O. Box 67809, Charlevoix, MI 49625

Mike and Hannah Taylor, the owners of Crystal Creek, will be responsible for ordering inventory, merchandising, maintaining accounting and inventory records, supervising dayto-day records operations and hiring, training, and scheduling employees other than part-time help in the busiest part of the season. Mike and Hannah will be responsible for the majority of working hours.

Mike Taylor has a marketing degree from Ferris State University. He also has 15 years' experiencein merchandising day-to-day operations of a business in addition to experience in hiring, training employees.

Hannah Taylor is a graduate of Michigan State University's merchandising program and has many years experience as a buyer and shop manager at private golf clubs, resorts, and retail stores.

Mike and Hannah Taylor have owned their own shop before. In 1989, they secured a loan from Second National Bank in Newton, Michigan, to operate the ProShop Express at Wanatchee Country Club. The loan was paid back, on time, over the course of the golf season. The following year, 1990, a loan was also taken out and paid back on time.

Summary of Sources and Uses of Funds

Office furniture, business machines (computer equipment, copier, FAX machine, cashregister, typewriter), store fixtures (display cases, shelves, stands, counters), delivery equipment, air conditioners, production machinery and construction equipment

List of only the equipment needed to start business, not what is already owned:

BEGINNING INVENTORY

Start-up costs are one-time expenses that are incurred prior to opening our business. Some of these expense categories, such as professional services and advertising, also may be on-going expenses. Therefore, they may be part of your working capital estimate for the first six months of operation.

Minimum working capital requirements should be estimated by totaling projected expenses for the first six months of Year 1.

Projected Income Statement: Detail by Month

Projected Income Statement: Detail by Quarter Year 1

Projected Income Statement: Detail by Quarter Year 2

Projected Cash Flow Statement: Detail by Month

Projected Cash Flow: Detail by Quarter Year 1

Projected Cash Flow: Detail by Quarter Year 2

Projected Balance Sheets

Gift Shop Business Plan Template

Download this Gift Shop Business Plan Template Design in Google Docs, Word, Apple Pages Format. Easily Editable, Printable, Downloadable.

People love to celebrate every occasion and gift-giving is always a part of it, that’s why a gift shop can be a lucrative business if managed with the right marketing strategies through a solid business plan. Don’t be reluctant to utilize our well-written and professionally-made Gift Shop Business Plan Template in order to have a reliable and effective plan before you decide to start your gift shop. Add, edit, replace, or modify any of its suggestive content in any file formats presented to have your desired business document. Stop wasting any more of your time, and start making the best out of it by downloading this Gift Shop Business Plan template now!

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Gift Shop Business Plan Template

MAY.03, 2019

Do you want to start gift shop business?

Is it difficult for you too, to find the perfect gift for your loved ones, matching the occasion? Well, it is a tedious and difficult part of other’s life as well, and that’s from where the scope of the gift shop business starts. You can provide ease to the people living near you if you know how to open a gift boutique. By opening a gift shop, you’ll be running a profitable business, while continuously interacting with people of all ages.

The business provides a platform to grow, so if you think you are well suited for the type of this business than don’t hesitate a minute and start working on it. To help you with making gift shop business plan , we are providing here one, for a startup named, ‘Gift Galore’.

Executive Summary

2.1 the business.

Gift Galore will be based in Las Vegas, owned by Meryl Walters; based on providing all types of gifts ranging from interesting presents for children to luxurious gifts for adults and old.

2.2 Management

Gift Galore will not only be operating through its store but also be providing home delivery of gifts by taking online orders. So, our management framework will consist of the salespersons, web developers, transport persons for gifts delivery, and a general co-manager. If you want to know more about how to start a gift shop business, go through this gift shop business plan template which we have provided free of cost.

2.3 Customers

We’ll have our customers of all age groups who can be the residents or tourists residing in Las Vegas. Later in this souvenir shop business plan, we’ll be making groups of our customers in more detail.

2.4 Target of the Company

Our target is to be the best and the most popular business of our type in whole Las Vegas and to earn a profit margin of $10k per month by the end of the first year.

3 years profit forecast - gift shop business plan

Company Summary

3.1 company owner.

Meryl Walters will be the owner of Gift Galore. Meryl is a graduate in Sociology from the University of Nevada. She has an eight-year experience of working as a management counselor.

3.2 Why the Business is being started

People and society are a subject for Meryl. After working for eight years as a management counselor, she wanted to do something different and interesting. After research on businesses which can link her directly to people, she is starting a gift shop business.

3.3 How the Business will be started

Before taking a startup, you have to create a business plan for a gift shop. After making your business plan gift shop will be easy to run as you will be able to prioritize your business. If you don’t know much about writing a gift shop business plan covering all the aspects, you can take help from here.

A building will be taken on rent and will be converted into a beautiful and well-lit shop to make the entrance appealing. We’ll gather an assortment of various types of gifts, greeting cards, hats and bags, handmade collections and much more. To run the shop Meryl will hire salespersons, web developers and transport persons along with some other staff as will be discussed later.

The detailed start-up requirements, start-up expenses, total capital and liabilities as forecasted by experts, is given below:

We’ll be providing our services by hand to hand manually and through our online site. So, even if you are looking for online gift shop business plan, you can take help from here. The products we’ll be providing are:

Marketing Analysis of Gift Shop Business

Great service.

Great service. Good turnaround time and quality work. Thanks!

After having decided the products you’ll provide in your shop, its time now to develop a marketing plan for gift basket business. Knowing just about how to start a souvenir business, is not enough to run your business successfully. To survive and achieve more than your competitors, you have to develop an accurate gift marketing strategy after analyzing the market trends and target customers.

5.1 Market Trends

Gift shop businesses are running from a long time before and have experienced several growths and falls. According to IBISWorld, more than 61 thousand gift shop businesses are running in the United States at this time generating an annual revenue of $17 billion. The industry is responsible for employing more than 187 thousand people around the U.S. Although latest statistics haven’t reported a positive growth rate overall, but we expect to achieve our goals due to our unmatched competitive advantages.

5.2 Marketing Segmentation

Our customers belong to every age group. To understand the needs of our customers, Gift Galore has divided them into three groups, as given here:

Marketing Segmentation - gift shop business plan

UK Start-Up Visa Business Plan

5.2.1 Children & Teens: The biggest group of our target customers will mostly comprise of the children, college going girls and boys who give small and normal priced gifts to their friends. We’ll be having gifts in affordable prices for them to fulfill the need of giving gifts without disturbing their budget.

5.2.2 Senior Citizens: The second category will comprise of the elder citizens, men, and women who give small gifts to their partners, friends and colleagues. We will be having a wide collection of gift items for this group so that they won’t need to search for the desired item by visiting many shops.

5.2.3 Young & Adults: The third category includes the young and adults, they are expected to purchase mostly the specialty gifts or little expensive gifts. As they can afford giving gifts by their own incomes.

The detailed market analysis of our potential customers is given in the following table:

5.3 Business Target

Our target to be achieved over the course of three years are:

5.4 Product Pricing

To achieve our business targets while gaining and maintaining potential customers, we have decided to price our items in similar ranges as our competitors.

After opening a gift shop business, you have to devise an effective business strategy services to let your customers know about the products you have bought for them. Before you start gift shop business find ways to let people know about the best part of you.

6.1 Competitive Analysis

To take a lead upon our competitors, we have come up with several competitive advantages, the biggest one of which is our online delivery system. Only we among our competitors are providing the facility to shop online. Our customers can choose the packages from the web, and get it at their doorstep within 12 hours by paying online. Secondly, we have ideas to make our entrance so creative and attractive that everyone would come to see inside. Lastly, we’ll have excellent customer care service, we’ll guide our customers about the gift that suits the event and will make sure that they are getting more than that they expected from us.

6.2 Sales Strategy

To advertise its services, Gift Galore will follow the following techniques:

6.3 Sales Forecast

6.4 Sales Yearly

6.5 Sales Forecast

Considering the quality of our services and our exceptional customer service, we expect our sales to increase by years. Our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.

The detailed information about sales forecast, total unit sales, total sales is given in the following table:

Personnel plan

You can start a gift shop business with a little or no staff, for if you are starting on a smaller scale. Meryl will be opening her shop on larger scales and, has decided to provide online services as well, so she will need additional staff to run her business smoothly.

7.1 Company Staff

Meryl will act as the General Manager, and will initially hire the following people:

7.2 Average Salary of Employees

The following table shows the forecasted data about employees and their salaries for the next three years.

Financial Plan

After you have decided to start a gift shop business, a general question arises that how much does it cost to open a gift shop. Well, this business doesn’t require a very large investment. The only expenditures you will have to do will be buying the inventory for your store business plan , expenses of advertisement and the salaries of your employees. These expenses can easily be balanced by the earned profits provided that you plan and market your business successfully. All the financial details of Gift Galore are provided in this sample gift shop business plan pdf. Anyone who is looking for how to open a gift shop business and run it successfully while achieving all goals can take help from here.

8.1 Important Assumptions

8.2 brake-even analysis.

Brake-even Analysis - gift shop business plan

8.3 Projected Profit and Loss

8.3.1 profit monthly.

Profit Monthly - gift shop business plan

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

Gross Margin Monthly - gift shop business plan

8.3.4 Gross Margin Yearly

Gross Margin Yearly - gift shop business plan

8.4 Projected Cash Flow

Projected Cash Flow - gift shop business plan

8.5 Projected Balance Sheet

8.6 business ratios.

Download Gift Shop Business Plan Sample in pdf

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Gift Shop Business Plan

Gift shops can increase their clientele and manage the tourism and traveler customer service market with this free, printable business plan.

Sample text from Gift Shop Business Plan:

1.0 Executive Summary

[COMPANY NAME] is a start-up Company located in [CITY], [STATE] and owned 100% by [NAME]. The Company will become a licensee of [COMPANY NAME]. [COMPANY NAME] has created a personalization product that is revolutionizing the floral industry, and is making its mark on many markets that traditionally have not had an interest in flowers, like the gift market, the greeting card market and the promotional industry. By creating a patented process that embosses your own personalized message or photograph directly onto the petal of live, fresh flowers, [COMPANY NAME] has combined the customized instant message with the emotion of a flower to create "The New Standard of Expression", and given you the opportunity to print flowers for today's era of personalization.

The Company will have a storefront in the Greater [CITY], [STATE] area.

The Company

[COMPANY NAME] business was formed in 2010 as a Corporation in the State of [STATE]. The Company is a start-up business in the Floral and Gift Shop Industry owned 100% by [NAME].

Our Services

[COMPANY NAME] has created machinery and processes that are the finest quality available anywhere in the world. They are extremely reliable and easy to use. This state of the art equipment does not apply a sticker or a decal; it prints on the petals of flowers that look like they were grown with metallic letters as a part of the petal. There is no shellacking the flower or any other plastic looking process. It actually embosses beautiful bright colors and even metallic ink directly onto the petals of fresh live flowers. In addition our equipment can personalize wooden flowers, silk flowers, silk petals, fresh petals, soap petals, glass, wood or ceramic vases and all kinds of pots and plant holders.

[COMPANY NAME]'s storefront will be located in [CITY], [STATE] area. The city proper had a 2009 estimated population of 645,169, making it the twentieth largest in the country. [CITY] is also the anchor of a substantially larger metropolitan area called Greater [CITY], home to 4.5 million people and the tenth-largest metropolitan area in the country. Greater [CITY] as a commuting region includes six [STATE] counties, [COUNTIES, all of [STATE] and parts of [STATE]; it is home to 7.5 million people, making it the fifth-largest Combined Statistical Area in the United States.

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1.1 Objectives · Generate total sales revenue to establish a profit at the end of year one. · Implement e-commerce capabilities to existing company website in
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Gift Galore will not only be operating through its store but also be providing home delivery of gifts by taking online orders. So, our
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Description. Describe the types of gift items you plan to sell in your boutique. · Analyzing Potential Shoppers. Explain the target market you want to attract to