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Executive Summary
The Company
Threading Joy Creations is a faith base small home business. Founded by Veona Untalan and inspired
by many handcrafters worldwide. The business' product line includes handcrafted cross body bags,
pouches, wristlets, school back packs, sling bags, and other accessories that targets tourists, teens,
women, and men of all ages.
The Ownership
The Company will be structured as a sole proprietorship.
The Management
The Company will be managed by Veona Untalan.
The Product
The company has a product line of locally made product line that includes handcrafted cross body bags,
pouches, wristlets, school back packs, sling bags, and other accessories that targets tourists, teens,
women, and men of all ages.
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Pricing Strategy
The Company will make use of an economy pricing strategy.
The Competitors
Ross Dress For Less, Macy's, Tommy Hilfiger, Guess.
Capital Requirements
The Owner's initial investment is valued at $10,000.00.
In addition, the Company will need to obtain a loan in the amount of $50,000.00.
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Business Plan - Threading Joy Creations
The Company
Business Sector
The Owner would like to start a business in the following industry: retail sector.
Company Background
Threading Joy Creations is a faith base small home business. Founded by Veona Untalan and inspired
by many handcrafters worldwide. The business' product line includes handcrafted cross body bags,
pouches, wristlets, school back packs, sling bags, and other accessories that targets tourists, teens,
women, and men of all ages.
Ownership Background
- Owner: Veona Untalan
Experience and training:
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The Product
The Product
The company has a product line of locally made product line that includes handcrafted cross body bags,
pouches, wristlets, school back packs, sling bags, and other accessories that targets tourists, teens,
women, and men of all ages.
Future Product
Travel bags, beach tote bags, messenger bags, and various other styles and designs to products that are
on the product line.
Marketing Plan
Location Analysis
Other businesses that sell high-end bags as mall vendors.
Pricing
The Company will make use of an economy pricing strategy.
Advertising
The Company will promote the business through:
- Social media
- Other: Word of mouth and self advetising.
Competitor Analysis
The Competitors
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Ross Dress For Less, Macy's, Tommy Hilfiger, Guess.
Strengths
The maker of the handbags are cut and sewn by only one person. The pricing of the products is
competitive yet affordable with the construction, materials, and labor, of all products.
Weaknesses
This business currently lacks a reputable relationship with the community. There is a need for bigger
workshop to produce the products and lacks storage space for all materials, hardwares, and finished
products as well as for new items that will be introduced to the product line. The business has limited
online presence compared to other stores or retailers. The business also lacks funding to purchase the
necessary machines and tools to produce the quality bags which is one of the goals.
Opportunities
There is an opportunity to expand the business by opening branches in different areas to promote the
business and to build a positive rapport with the community. Lastly, tapping into more media coverage
will increase brand awareness for the company.
Threats
The economic slowdown has discouraged customers from purchasing quality handbags. There are lots
of emerging competitors in nearby areas and some of these stores are offering both locally produced
and imported items.
Operations
Daily Operations
Once the shop opens daily, my goal is to sew at least 15-20 bags within a week. Sharmaine Eay will be
assisting me when the bookkeeping, Courtney will be assisting me with advertising, mu husband
Charles will be taking care of all the logistics I need.
Suppliers
Your Vinyl Source, IndoLove Creations, SiahSwag, Jess Ocklaroots.
Financials
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Capital Requirements
The Owner's initial investment is valued at $10,000.00.
In addition, the Company will need to obtain a loan in the amount of $50,000.00.
The loan's terms are: The loan will be paid in equal payments for a period of 80 months. The payments
will go toward both the interest and the original amount.
Other financial information: The capital will cover initial permits, licenses, and the down payment for
the construction of a shop with the needed space and storage for the business and to keep it separate
from my personal home. Any unused amount will be used to purchase equipment, tools, hardware, and
materials.
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Threading Joy Creations
Projected Income Statement:
For the year ending the 31st day of December: (USD - US Dollars)
500
$
Revenues:
Gross Sales: 800.00
Less Cost of Goods Sold: (800.00)
Gross Profit: 0.00
Expenses:
Sales and Marketing 800.00
Research and Development 0.00
Insurance 0.00
Legal and Professional Services 0.00
Bookkeeping 0.00
Rent 0.00
Utilities 500.00
Repairs and Maintenance 0.00
General Office 0.00
Entertainment 0.00
Licenses 200.00
Salaries and Benefits 0.00
Bank Fees 0.00
Interest 0.00
Miscellaneous Expenses 0.00
Total Expenses: 1,500.00
NET INCOME (Before Tax): (1,500.00)
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