Nvc Ejima
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- Words: 2,094
- Pages: 18
Tables of Contents 1.0 Executive Summary...............................................................................................................1 1.1 Objectives…………………………………………………………………………………………2 1.2Vision and Mission Statement………………………………………….......................................3 2.0 Company Summary……………………………………………………………………….........4 2.1 Company Ownership.............................................................................................................. 5 2.2Start Up Summary…………………………………………………………………………………6 3.0 Products and Services……………………………………………………………......................7 4.0 Market Analysis Summary………………………………………………………………..........8 3.1 Market Segmentation…………………………………………………………….....................9 3.2 Target Market Segment Strategy………………………………………………………………….10 3.3 Services Business Analysis……………………………………………………………................11 4.3.1 Competition and Buying Patterns……………………………………………………………….12 5.0 Strategy and implementation Summary..................................................................................8 5.1 Competitive Edge..............................................................................................................8 5.2 Marketing Strategy...............................................................................................................8 5.3 Sales Strategy......................................................................................................................9 6.0 Conclusion...............................................................................................................................10
1.0 Executive Summary Exclusive T-shirts Design Inc is an exciting new business plan that allows people to custom design a shirt (specifically the design on the front or back) any way that they would like. By intelligently leveraging cutting edge technology, Exclusive T-shirts Design Inc, will harness the power of computer sublimation to allow custom shirt printing in production runs as small as one unit..The company will be set up in Knoxville, Tennessee as a limited liability company. The design and style of our product line is unique. We will be offering better-quality and design at Competitive prices. Our affordable designs are recent our products are available in a variety of elastic finishes and colors so that customers have the flexibility to customize to their individual tastes. We will continue to expand and develop our existing product lines and add new product lines such as air brush. It is our goal to design and introduce 2 to 3 new products per year.
Competitive Edge
Exclusive T-shirts Design Inc has two sustainable competitive edges that will help in market penetration. The first edge is an enormous catalog of graphic images. The company will offer an unprecented number of options. Our second edge is the high quality of sublimation offered.
Management Exclusive T-shirts Design Inc will start out as a simple proprietorship, owned by its founder. As the operation grows, the owner will consider re-registering as a limited liability company or as a corporation, whichever will better suit the future business needs. The initial management team depends on the founders themselves, with little back-up. As we grow, we will take on additional consulting help, plus graphic/editorial, sales, and marketing.
1.1 Objectives * Influence cutting edge technology as a competitive advantage. * Exceed customer’s expectations by offering high quality products at reasonable prices with quick ROI (Return on investment). *Employ careful financial and accounting analysis to ensure efficiency and proper controls of our system * Expand our product lines to meet customer demand. We will introduce three new types of Designs including air brush, silk screen and direct on garment (DOG).
1.2 Vision and Mission Statement Exclusive T-shirts Design Inc will grow and initiate new design. We offer our Customer’s more quality and unique designs at affordable prices. We will continue to expand our product lines, based on the needs of our customers.
2.0 Company Summary Exclusive T-shirts Design Inc is a start-up organization. The company was formed to market the
largest selection of printed, custom, and blank T-shirts to consumers, Businesses and the trade also to establish good customizing services.
2.1 Company Ownership Exclusive T-shirts Design Inc will start out as a simple proprietorship, owned by its founders. As the operation grows, the owners will consider re-registering as a limited liability company or as a corporation, whichever will better suit the future business needs.
2.2 Start-up Summary TABLE: START-UP Start-up Requirements Start-up Expenses Stationery Brochure Computer equipment
$200 $0 $6,200
Rent
$0
Insurance
$0
Office Furniture
$1,000
Sublimation heat press unit
$2,000
Website development
$6,500
Total Start-up Expenses
$17,100
Start-up Asset Needed Cash balance on Starting Date Start-up Inventory
$56,400 $0
Other Current Assets
$1,500
Total Current Assets
$57,900
Long-term Assets Needed
$5,000
Total Asset
$62,900
Total Requirements
$80,000
Funding Investment
$15,000
Owner
$0
Investor 2
$0
Other
$0
Total Investment
$15,000
Currently Liabilities
$0
Accounts payable
$0
Current Borrowing
$0
Other Current Limited
$0
Currently Liabilities
$0
Long-term Liabilities
$65,000
Total Liabilities
$65,000
Loss at Start-up
($17,000)
Total Capital
($2,100
Total Capital and Liabilities
$6,290
Section 2 3.0 Product and Services Exclusive T-shirts Inc is a custom T-shirt sublimation company that will Offer customers a choice of imagery (out or theirs to apply to the front or back of a shirt. Sublimation is a process using heat transfer (embed) into a fabric surface such as a shirt. The alternative method of creating custom shirt designs called silk-screen, this is a process in which a screen is made with image and this image is transferred onto a shirt. Customers can then choose from pre-existing graphics or custom artwork. Pre-existing graphics are chosen from a catalog. Exclusive T-shirts Inc, introduce a wide range of graphic Images. These images can be viewed and ordered online, providing customers with flexibility and convenience. Exclusive T-shirts Inc will have a Comprehensive website that will allow ordering a customer’s home, or where ever they may be. Exclusive T-shirts Inc will also offer custom artwork or graphic options for sublimation. The customers may bring in a graphic or may use Exclusive T-shirts Inc, sub-contracted artist to realize their vision.
4.0 Market Analysis Summary Exclusive T-shirts Design Inc has segmented the market into two groups, organized by the type of product they purchase. The first groups are customers that desire an already created graphic image to be placed on their shirt. The second groups are those that prefer custom artwork to be placed on their shirt. The company will divide the market by the products that they purchase because it offers an intuitive, easy method of targeting two different groups. An additional reason for segmenting the market based on the two products is because the demographics for the buyers of the two products are distinct enough to group them separately.
4.1 Market Segmentation Exclusive T-shirts Design Inc, will segment their market into two distinct groups. As mentioned previously, the two segments will be grouped by the type of product they chose. The company will divide the market by product type; it is effectively divided in the market by age as well since the customers who purchase The custom artwork shirts tend to be older than the group preferring the ready-made graphics. Graphics-- This group purchases a shirt and has an existing graphic placed on the shirt. This is less expensive option and lends itself to low production numbers, as low as one, since there is not the inherent expense of artwork creation * Ages 22-26 (core) * 69% will be students * Median individual income is $26,000 * Go out to eat 3.4 times a week * Trend setters * Unconventional in attitude * Adventurous Artwork -- This segment prefers having custom artwork created and placed on their shirt. They generally have the image or style in mind and will direct the artist to create it. Occasionally when the customer will not have an exact image in mind but will rely on the artist's skills to help shape the work. Some of these customers will use Exclusive T-shirts Design Inc, partner’s artist; others will have a friend or other service provides develop the art. * Ages 23-32 * Median individual income is N42, 000 * Go out to eat 2.7 times a week * Listen to 3.3 hours of music a week * 18% are using the shirt as a form of communication for a cause or a message
Table: Market Analysis Market Analysis Potential Customers
Growth
Graphic
7%
Artwork Total
2003
2004
2005
2006
2007
CAGR
7,879,664
8,431,240
9,021,427
9,652,927
10,328,632
7.00%
8%
5,969,854
6,447,442
6,963,237
7,520,296
8,121,920
8.00%
7.43%
13,849,518
14,878,682 15,984,664 17,173,223
18,450,552
7.43%
Market Analysis Pie
4.2 Target Market Segment Strategy Exclusive T-shirts Design Inc will choose these two market segments because their demographics (reasonable young) have the highest likelihood of purchasing a custom shirt. Music is also an important interest for both the target markets since both segments listen to and
watch more than average amount of music. T-shirts are particularly popular at music events. This phenomenon may be explained in part by expressive nature both music and t-shirt graphics. Exclusive T-shirts Design Inc will provide a form of expression, allowing each customer to choose what aesthetic or idea they want to communicate. Sport is a medium that gets the attention of these people. Graphic of superstars can also go a long way in catching their mind, mentors like Nelson Mandela, Ben CarsonEl, Salase.
4.3 Service Business Analysis Recently a number of companies have just begun offering computer-based Sublimation enabling then to Offer low productions. The new technology will allow companies to offer sublimation using computers; the image quality is average at its best Exclusive T- shirts Design Inc will Leverage proprietary technology as a competitive edge to produce much higher quality Computer sublimation.
.3.1 Competition and buying Patterns Exclusive T-shirts Design Inc will identify three competitors, Two local companies the third is an internet based shirt designer * T-shirt-- The local competitor’s heat-transfer. 70% of their business is heat-transfer with the remaining 30% of sublimation. The company will use existing images for their heat-transfer and for sublimation you must use their artist. * Shirt Shack-- This local retailer is geared towards organizations and teams with productions runs of 20 or more. They do fairly good work but are rigid regarding custom work. * Design House--This is an internet-based retailer that primarily offers computer sublimations. Designs House has a catalog of approximately 1000 or more images for customers to choose from. They do allow customers to use their own graphic. The quality of the sublimations is mediocre at the best because they can only use off the shelf technology
5.0 Strategy and implementation Summary Exclusive T-shirts Design Inc, will leverage their two competitive edges to quickly gain market share.The competitve edges are unpredecented catlog of graphic images and the quality of their computer generated sublimatons, a fuction of using prototyped sublimation technology. The marketing campaign will empahasize the ability to completeley customize a shirt.Youth events and student groups will be targeted. The sales campaign will empahasize making the experience as easy and pleasing as possible to encourage repeat customers and word of mouth referrals. Endorsement of artists and youth ambassadors would be adopted to engender trial and also as a form of publicity to the brand.
5.1 Competitive Edge Exclusive T-shirts Design Inc, has two competitive edges that they will use to their advantage to achieve market penetration. *Large catalog of graphics-- Exclusive T-shirts Design Inc, will develop several strategic relationships with customers and they will create their own library of graphics so customers can make a choice of theirs. This will offer expansive array of imagery. *Quality of the sublimation-- Exclusive T-shirts Design Inc, will be able to produce sublimations of much higher quality than their competitors. This gives Exclusive T-shirts Design Inc, a fantastic competitive edge. 1. Strong networking and link with the target markets 2. Strong personal relationship with targets (one on one marketing)
5.2 Marketing Strategy The marketing campaign will seek to increase visibility for Exclusive T-shirts Design Inc, emphasizing the ability of the customer to completely customize their design. Exclusive T-shirts Design Inc will use several different venues to communicate this message. *Advertisement-- Exclusive T-shirts Design Inc will run ads in several teen/young adult magazines whose readership demographics are similar to Exclusive T-shirts Design Inc. *Youth event-- Many different events will be sponsored as means of increasing visibility. These include but are not limited to music festivals and sporting events along with the new genre of extreme sports events. *Student group-- Exclusive T-shirts Design Inc will attempt to gain awareness of different student groups who actively purchase shirts for the members. Awareness will be achieved through a combination of sponsorship of advertisements in magazines that specifically target this demographic.
5.3 Sales Strategy The sales strategy will emphasize the fact that ordering a shirt from Exclusive T-shirts Design Inc, will be very easy and pleasing, the company will also rely three factors to help boost sales. The first is exemplary customer service having excellent services will provide the customer with the feeling that the business is looking out for customer's interest. Second when a customer places an order, they will probably be excited to see the finished product, so Exclusive T-shirts Design Inc, will ensure the fastest turnaround time possible. Lastly, sales will be boosted by offering customers a high quality product. We will use high grade cotton shirts and state-of-theart sublimation printing material.
6.0 Conclusion/ Keys to Success * Leverage cutting edge technology as a competitive advantage. * Exceed customer’s expectations by offering high quality products at reasonable prices with quick ROI (Return on investment). * Employ careful financial and accounting analysis to ensure efficiency and proper controls of our system.
1.0 Executive Summary Exclusive T-shirts Design Inc is an exciting new business plan that allows people to custom design a shirt (specifically the design on the front or back) any way that they would like. By intelligently leveraging cutting edge technology, Exclusive T-shirts Design Inc, will harness the power of computer sublimation to allow custom shirt printing in production runs as small as one unit..The company will be set up in Knoxville, Tennessee as a limited liability company. The design and style of our product line is unique. We will be offering better-quality and design at Competitive prices. Our affordable designs are recent our products are available in a variety of elastic finishes and colors so that customers have the flexibility to customize to their individual tastes. We will continue to expand and develop our existing product lines and add new product lines such as air brush. It is our goal to design and introduce 2 to 3 new products per year.
Competitive Edge
Exclusive T-shirts Design Inc has two sustainable competitive edges that will help in market penetration. The first edge is an enormous catalog of graphic images. The company will offer an unprecented number of options. Our second edge is the high quality of sublimation offered.
Management Exclusive T-shirts Design Inc will start out as a simple proprietorship, owned by its founder. As the operation grows, the owner will consider re-registering as a limited liability company or as a corporation, whichever will better suit the future business needs. The initial management team depends on the founders themselves, with little back-up. As we grow, we will take on additional consulting help, plus graphic/editorial, sales, and marketing.
1.1 Objectives * Influence cutting edge technology as a competitive advantage. * Exceed customer’s expectations by offering high quality products at reasonable prices with quick ROI (Return on investment). *Employ careful financial and accounting analysis to ensure efficiency and proper controls of our system * Expand our product lines to meet customer demand. We will introduce three new types of Designs including air brush, silk screen and direct on garment (DOG).
1.2 Vision and Mission Statement Exclusive T-shirts Design Inc will grow and initiate new design. We offer our Customer’s more quality and unique designs at affordable prices. We will continue to expand our product lines, based on the needs of our customers.
2.0 Company Summary Exclusive T-shirts Design Inc is a start-up organization. The company was formed to market the
largest selection of printed, custom, and blank T-shirts to consumers, Businesses and the trade also to establish good customizing services.
2.1 Company Ownership Exclusive T-shirts Design Inc will start out as a simple proprietorship, owned by its founders. As the operation grows, the owners will consider re-registering as a limited liability company or as a corporation, whichever will better suit the future business needs.
2.2 Start-up Summary TABLE: START-UP Start-up Requirements Start-up Expenses Stationery Brochure Computer equipment
$200 $0 $6,200
Rent
$0
Insurance
$0
Office Furniture
$1,000
Sublimation heat press unit
$2,000
Website development
$6,500
Total Start-up Expenses
$17,100
Start-up Asset Needed Cash balance on Starting Date Start-up Inventory
$56,400 $0
Other Current Assets
$1,500
Total Current Assets
$57,900
Long-term Assets Needed
$5,000
Total Asset
$62,900
Total Requirements
$80,000
Funding Investment
$15,000
Owner
$0
Investor 2
$0
Other
$0
Total Investment
$15,000
Currently Liabilities
$0
Accounts payable
$0
Current Borrowing
$0
Other Current Limited
$0
Currently Liabilities
$0
Long-term Liabilities
$65,000
Total Liabilities
$65,000
Loss at Start-up
($17,000)
Total Capital
($2,100
Total Capital and Liabilities
$6,290
Section 2 3.0 Product and Services Exclusive T-shirts Inc is a custom T-shirt sublimation company that will Offer customers a choice of imagery (out or theirs to apply to the front or back of a shirt. Sublimation is a process using heat transfer (embed) into a fabric surface such as a shirt. The alternative method of creating custom shirt designs called silk-screen, this is a process in which a screen is made with image and this image is transferred onto a shirt. Customers can then choose from pre-existing graphics or custom artwork. Pre-existing graphics are chosen from a catalog. Exclusive T-shirts Inc, introduce a wide range of graphic Images. These images can be viewed and ordered online, providing customers with flexibility and convenience. Exclusive T-shirts Inc will have a Comprehensive website that will allow ordering a customer’s home, or where ever they may be. Exclusive T-shirts Inc will also offer custom artwork or graphic options for sublimation. The customers may bring in a graphic or may use Exclusive T-shirts Inc, sub-contracted artist to realize their vision.
4.0 Market Analysis Summary Exclusive T-shirts Design Inc has segmented the market into two groups, organized by the type of product they purchase. The first groups are customers that desire an already created graphic image to be placed on their shirt. The second groups are those that prefer custom artwork to be placed on their shirt. The company will divide the market by the products that they purchase because it offers an intuitive, easy method of targeting two different groups. An additional reason for segmenting the market based on the two products is because the demographics for the buyers of the two products are distinct enough to group them separately.
4.1 Market Segmentation Exclusive T-shirts Design Inc, will segment their market into two distinct groups. As mentioned previously, the two segments will be grouped by the type of product they chose. The company will divide the market by product type; it is effectively divided in the market by age as well since the customers who purchase The custom artwork shirts tend to be older than the group preferring the ready-made graphics. Graphics-- This group purchases a shirt and has an existing graphic placed on the shirt. This is less expensive option and lends itself to low production numbers, as low as one, since there is not the inherent expense of artwork creation * Ages 22-26 (core) * 69% will be students * Median individual income is $26,000 * Go out to eat 3.4 times a week * Trend setters * Unconventional in attitude * Adventurous Artwork -- This segment prefers having custom artwork created and placed on their shirt. They generally have the image or style in mind and will direct the artist to create it. Occasionally when the customer will not have an exact image in mind but will rely on the artist's skills to help shape the work. Some of these customers will use Exclusive T-shirts Design Inc, partner’s artist; others will have a friend or other service provides develop the art. * Ages 23-32 * Median individual income is N42, 000 * Go out to eat 2.7 times a week * Listen to 3.3 hours of music a week * 18% are using the shirt as a form of communication for a cause or a message
Table: Market Analysis Market Analysis Potential Customers
Growth
Graphic
7%
Artwork Total
2003
2004
2005
2006
2007
CAGR
7,879,664
8,431,240
9,021,427
9,652,927
10,328,632
7.00%
8%
5,969,854
6,447,442
6,963,237
7,520,296
8,121,920
8.00%
7.43%
13,849,518
14,878,682 15,984,664 17,173,223
18,450,552
7.43%
Market Analysis Pie
4.2 Target Market Segment Strategy Exclusive T-shirts Design Inc will choose these two market segments because their demographics (reasonable young) have the highest likelihood of purchasing a custom shirt. Music is also an important interest for both the target markets since both segments listen to and
watch more than average amount of music. T-shirts are particularly popular at music events. This phenomenon may be explained in part by expressive nature both music and t-shirt graphics. Exclusive T-shirts Design Inc will provide a form of expression, allowing each customer to choose what aesthetic or idea they want to communicate. Sport is a medium that gets the attention of these people. Graphic of superstars can also go a long way in catching their mind, mentors like Nelson Mandela, Ben CarsonEl, Salase.
4.3 Service Business Analysis Recently a number of companies have just begun offering computer-based Sublimation enabling then to Offer low productions. The new technology will allow companies to offer sublimation using computers; the image quality is average at its best Exclusive T- shirts Design Inc will Leverage proprietary technology as a competitive edge to produce much higher quality Computer sublimation.
.3.1 Competition and buying Patterns Exclusive T-shirts Design Inc will identify three competitors, Two local companies the third is an internet based shirt designer * T-shirt-- The local competitor’s heat-transfer. 70% of their business is heat-transfer with the remaining 30% of sublimation. The company will use existing images for their heat-transfer and for sublimation you must use their artist. * Shirt Shack-- This local retailer is geared towards organizations and teams with productions runs of 20 or more. They do fairly good work but are rigid regarding custom work. * Design House--This is an internet-based retailer that primarily offers computer sublimations. Designs House has a catalog of approximately 1000 or more images for customers to choose from. They do allow customers to use their own graphic. The quality of the sublimations is mediocre at the best because they can only use off the shelf technology
5.0 Strategy and implementation Summary Exclusive T-shirts Design Inc, will leverage their two competitive edges to quickly gain market share.The competitve edges are unpredecented catlog of graphic images and the quality of their computer generated sublimatons, a fuction of using prototyped sublimation technology. The marketing campaign will empahasize the ability to completeley customize a shirt.Youth events and student groups will be targeted. The sales campaign will empahasize making the experience as easy and pleasing as possible to encourage repeat customers and word of mouth referrals. Endorsement of artists and youth ambassadors would be adopted to engender trial and also as a form of publicity to the brand.
5.1 Competitive Edge Exclusive T-shirts Design Inc, has two competitive edges that they will use to their advantage to achieve market penetration. *Large catalog of graphics-- Exclusive T-shirts Design Inc, will develop several strategic relationships with customers and they will create their own library of graphics so customers can make a choice of theirs. This will offer expansive array of imagery. *Quality of the sublimation-- Exclusive T-shirts Design Inc, will be able to produce sublimations of much higher quality than their competitors. This gives Exclusive T-shirts Design Inc, a fantastic competitive edge. 1. Strong networking and link with the target markets 2. Strong personal relationship with targets (one on one marketing)
5.2 Marketing Strategy The marketing campaign will seek to increase visibility for Exclusive T-shirts Design Inc, emphasizing the ability of the customer to completely customize their design. Exclusive T-shirts Design Inc will use several different venues to communicate this message. *Advertisement-- Exclusive T-shirts Design Inc will run ads in several teen/young adult magazines whose readership demographics are similar to Exclusive T-shirts Design Inc. *Youth event-- Many different events will be sponsored as means of increasing visibility. These include but are not limited to music festivals and sporting events along with the new genre of extreme sports events. *Student group-- Exclusive T-shirts Design Inc will attempt to gain awareness of different student groups who actively purchase shirts for the members. Awareness will be achieved through a combination of sponsorship of advertisements in magazines that specifically target this demographic.
5.3 Sales Strategy The sales strategy will emphasize the fact that ordering a shirt from Exclusive T-shirts Design Inc, will be very easy and pleasing, the company will also rely three factors to help boost sales. The first is exemplary customer service having excellent services will provide the customer with the feeling that the business is looking out for customer's interest. Second when a customer places an order, they will probably be excited to see the finished product, so Exclusive T-shirts Design Inc, will ensure the fastest turnaround time possible. Lastly, sales will be boosted by offering customers a high quality product. We will use high grade cotton shirts and state-of-theart sublimation printing material.
6.0 Conclusion/ Keys to Success * Leverage cutting edge technology as a competitive advantage. * Exceed customer’s expectations by offering high quality products at reasonable prices with quick ROI (Return on investment). * Employ careful financial and accounting analysis to ensure efficiency and proper controls of our system.
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Nvc Ejima
June 2020 0