Business Plan Interior Designing

8/12/2019 Business Plan Interior Designing

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Context:

1) Description of area

2) Executive Summary

3) Statements

4) Objectives

5) Key to success

6) Company summary

7) Company ownership

8) Company location

9) Services

10)Service description

11)Sales literature

12)Market analysis summary


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13)Market segmentation

14)SWOT analysis

15)Value proposition

16)Competitive edge

17)Market strategy

18)Promotion strategy

19)Market programs

20)Positioning statement

21)Sale strategy

22)Web plan program

23)Management summary

24)Organization structure


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25)Financial plan

26)Financial difficulties

27)Important assumption


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Management Team of

Project

Manager of

Sales and

Marketing"Hafiz Zafer "

Manager of

Finance

"Agha Rizwan"

Manager of

HR "Sadia &

Sehrish"

Manager of

Quality

Insurance"Umer "


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Description of Area:

Commercial area

Lahore's two major markets both are located in Gulberg. The Main Market gulberg andLiberty Market are commercial hubs in central Lahore, functioning as half bazaar andhalf shopping mall in appearance and layout. Along the side of Main Market is the CanalPark Bazar.

Most of Lahore's major high-end commercial districts are located within Gulberg,

includingM. M. Alam road,Gulberg Main Boulevard, portions ofThe Mall Road,JailRoad,Gaddafi Stadium and others.

Residential area

Many of Pakistan's leading industrial clans, entrepreneurs, and "pro-establishment"social elite maintain residences in Gulberg, making it the civilian epicenter of Lahore, asMilitary families of high rank either reside in the city of Rawalpindi, or in the Cantonment

("Cantt") district of Lahore.

Gulberg's posh reputation is well-deserved. Leading athletic competitions, health andfitness gyms, as well as bi-gender swimming pools are easily accessible to the wealthyinhabitants of the district. The area is known for its cultural centrality for the modern pro-establishment elites of Pakistan, as well as the presence of nearly all of Lahore andPunjab's prestigious non-military families. Hafeez Center is the one of the famousMobile and computer market of the province Punjab.This is the biggest market of mobilephones in continent Asia under one roof.There are more than 1500 shops of mobilephones.The biggest problem of this market is car parking.
http://en.wikipedia.org/wiki/M._M._Alam_roadhttp://en.wikipedia.org/wiki/The_Mall_(Lahore)http://en.wikipedia.org/wiki/Gaddafi_Stadiumhttp://en.wikipedia.org/wiki/Gaddafi_Stadiumhttp://en.wikipedia.org/wiki/The_Mall_(Lahore)http://en.wikipedia.org/wiki/M._M._Alam_road


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Executive SummaryComsats Interiors is a proposed venture that will offer comprehensive interior designservices for homes and offices in the Boulder, Colorado area. Comsats Interiorsalso will provide access to products to complement the design consulting servicesincluding furniture, both new and antique, decorator fabric, and home and officeaccessories. This venture offers the personalized services the target market desiresand can afford in a way that is unique from concept to implementation.

Recent market research indicates a specific and growing need in the area for the

interior design consulting services and products Comsats Interiors offers the market itwill serve. The market strategy will be based on a cost effective approach to reach thisclearly defined target market. Although the population of Boulder is under 100,000, themarket has a significant quantity of relatively wealthy households that are conscious ofthe appearance and feel of their home and offices.

The approach to promote Comsats Interiors with be through establishing relationshipswith key people in the community and then through referral activities once a significantclient base is established. Comsats Interiors will focus on developing solid and loyalclient relationships offering design solutions based on the client's taste, budget, use,and goals for the space. The additional selection, accessibility of product, design

services, and value-based pricing will differentiate Comsats Interiors from the otheroptions in the area.


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Mission Statement:

We are committed to add beauty, comfort

and finest life style to your life.

Vision Statement:

Our vision is to create value with a difference


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Objectives

1. Generate a minimum of 45% of revenues from product sales versus consultingbilling.

2. Establish a commercial revenue client base accounting for 10% of total revenues.

Mission

Comsats Interiors will be an interior design service for discerning, quality-conscious

clients that seek assistance in their design choices for their primary residences,

vacation homes, and businesses. This experience will offer personal attention through

the design process and provide design resources and products to its clients through

special purchases of furniture, fabric, and accessories. The total experience will be

provided in a way to inform, inspire, and assist people through the process

of transforming their home or business environment to become a unique and

personalized expression of themselves and add to their enjoyment of that interior space.

Keys to Success

The primary keys to success for Comsats Interiors will be based on the following factors:

Provide the highest quality interior design consulting experience possible.

Sell specially selected products to these clients to further meet their

interior design needs.

Retain clients to generate repeat purchases and initiate referrals.


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Company Summary

Comsats Interiors is a start-up business that will offer comprehensive interior designservices for home and office. This business will assist those that want to have guidance

and council in developing a basic design concept of their project, to the person thatdesires someone to take it from concept to complete implementation. Comsats Interiorswill offer the ability for clients to purchase new and antique furniture, art work, decoratorfabric, and home accessories. The business will begin as a home-based business andis expected to remain in this structure through at least the first three years.

Company Ownership

Comsats interior, located in Gulberg, in the city of Lahore as a partnership owned andoperated by Comsians.

Company Locations and Facilities

Comsats Interiors is operated from a home office located in Boulder, Colorado. A room

is dedicated to support a work area, a client contact work center, and display samples ofdesign concepts, products, and past work.

Services

Comsats Interiors focuses on providing interior design consulting. This iscomplemented by specially purchased furniture, art pieces, decorator fabric, and

accessories for the home and office. The sales process will begin with interior designconsulting services, and then progress on to offer specially selected components tocomplement the design theme.


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Service Description

Our primary points of differentiation offer these qualities:

A unique client experience from a trained and professional interior designer that isqualified and capable of meeting the needs of discerning clients with highexpectations.

Access to a wide and unique selection of new and antique furniture, accessories,and special-order decorator fabrics.

Personal assistance from a complementary product offering, including hard-covering window treatment, hardware, and home accessories that fit the look andobjectives of each project.

Sales Literature

A simple and professional looking brochure will be available to provide to referralsources, leave at seminars, and on a select basis, use for direct mail purposes.

Market Analysis Summary

Comsats Interiors has a defined target market client that will be the basis of building thisbusiness. This client is identical for both the residence and office spaces, but thetarget market is identical based on her different roles for each of those spaces.

Effective marketing combined with an optimal product offering is critical to the ComsatsInteriors' success and future profitability. The owner possesses solid information about

the market and knows a great deal about the common attributes of those that areexpected to be prized and loyal clients. This information will be leveraged to betterunderstand who Comsats Interiors will serve, their specific needs, and how to bettercommunicate with them.


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Market SegmentationThe profile of the Comsats Interior client consists of the following psychographic, and

behavior factors:

Psychographics

The appearance of her home is a priority.

Entertaining and showing her home is important.

She perceives herself as creative, tasteful and able, but seeks validation andsupport regarding her decorating ideas and choices.

Behaviors

She takes pride in having an active role in decorating their home.

Her home is a form of communicating "who she is" to others.

Comparison positioning and stature within social groups are made on an ongoingbasis, but rarely discussed.

Comsats Interiors will be providing its clients the opportunity to create a homeenvironment to express who they are.They will seek design assistance and have theresources to accomplish their goals. They desire their home to be personal, unique,and tasteful as it communicates a message about what is important to them. ComsatsInteriors will seek to fulfill the following benefits that are important to our clients.


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SWOT AnalysisThe following SWOT analysis captures the key strengths and weaknesses relating tothe market analysis summary and describes the opportunities and threats facingComsats Interiors.

Strengths

The proven ability to establish excellent personalized client service.

Strong relationships with suppliers that offer flexibility and respond to specialservice requirements.

Good referral relationships with architects, complementary vendors, and localrealtors.

Client loyalty developed through a solid reputation among repeat, high-pricepurchase clients.

Weaknesses

The owner is still climbing the "retail experience learning curve."

Not established in a market where a variety of interior design options exist.

Challenges of the seasonality of the business.

Opportunities

A significant portion of our target market is desperately looking for the servicesComsats Interiors will offer.

Strategic alliances offering sources for referrals and joint marketing activities toextend our reach.

Promising activity from new home construction activity.

Changes in design trends can initiate home updating and, therefore, generatesales.

Threats

Continued price pressure due to competition or the weakening market reducingcontribution margins.


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Dramatic changes in design, including fabric colors and styles can presentchallenges to keep paced with what is desired by what is expected to be a leading-edge client base.

This analysis indicates solid potential success, but the weaknesses and threatsmust be recognized throughout the life of the venture.

Value Proposition

Comsats Interiors will offer the highest interior design experience for the home andoffice conveniently available for those in the Gulberg area. The concept is uniquethrough the selection of antiques, home accessories, and complementary productsalong with the interior design consulting experience.

Competitive Edge

Comsats Interiors will be differentiated from other interior designers by the valueit offers in quality. This competitive edge leverages the same proven factors thatindicated higher success rates for interior design services.

Marketing Strategy

The marketing strategy is based on establishing Comsats Interiors as the resource ofchoice for people in need of interior design ideas. The more involved "do-it-yourself"and the "buy-it-yourself" clients will find the consulting and guidance helpful. On theother end of the spectrum, the "just-get-it-done" client will find Comsats will successfullyaccomplish exactly that. All clients will find Comsats Interiors to be resources todecorate their homes and offices in a way that is inspiring, inviting, and motivating.

Our marketing strategy is based on superior performance in the following areas:

Unique consulting services.

Overall quality of the experience and the result.

Excellent client service and support regardless.


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Promotion Strategy

The promotion strategy will focus on generating referrals. Other potential sources ofpromotion include:

Newspaper Advertisements: Quarterly Postcard: Website:

Marketing ProgramsThe single objective is to position Comsats Interiors as the premier source for homedecorator fabrics in the Gulberg area. The marketing strategy will seek to first createclient awareness regarding the services offered, develop that client base, establishconnections with targeted markets and work toward building client loyalty and referrals.

Comsats Interiors' four main marketing strategies are:

1. Increased awareness and image.

2. Leveraging existing client base.

3. New home construction promotion.

Positioning Statement

For the person that seeks to create a personalized and unique impression of her home,Comsats Interiors is the source for client-oriented design services. Clients will be

impressed with, and return for, the services they receive and the outcome they haveenjoyed. Comsats Interiors is a pleasant and tasteful resource that encourageseveryone in the process of decorating their home. Comsats Interiors allows theindividual to participate in their design choices to the extent they choose, and realizegreater value for the rupees they invest.


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Sales Strategy

The key to our sales strategy will be referrals from pleased clients that are proud of theresult. Sales activities will depend on creating awareness about the services ComsatsInteriors offers and then build on each and every client as they make the decision torefer to others.

Web Plan Summary

The website of www.Comsatsinteriors.com will be used for information only purposes atthis time. Contact information will be presented with a complete portfolio of workaccomplished. Additional information will be provided regarding the product-basedresources Comsats Interiors incorporates into the work done for clients.

Sales Programs

In brief, our marketing mix is comprised of these approaches to pricing, distribution,advertising and promotion, and client service.

Advertising and Promotion:

Client Service -Excellent, personalized, fun, one-of-a-kind client service isessential. This is perhaps the only attribute that cannot be duplicated by any competitor.

The first goal is to recognize individualized needs of each client. If they are a repeatclient, they benefit from the knowledge regarding their lifestyle and taste that wasgained from the previous experience.


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Management Summary

Agha Rizwan, Umer,Sadia, Sehrishand Hafiz Zafer are going to be founder and ownerof Comsats interiors. We all will receive a bachelor degree from COMSATS institute of

information and technology.

Organizational Structure

The organization structure is simplistic. We will manage all employees and professionalcontacts. We will also determine resources requirements and monitor expenses for allaspects of the firm.

Financial Plan

The initial funding of 2 lacs will be invested by the owner. The goal is to fund the growthof the business from its earnings.

Financial difficulties and risks

Slow sales resulting in less-than-projected cash flow.

Unexpected and excessive cost increases compared to the planned expenses.

Overly aggressive and debilitating actions by competing designers.

A parallel entry by a new competitor further diminishing revenuegeneration potential.

Worst case risks might include

Determining the business cannot support itself on an ongoing basis.


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Dealing with the financial, business, and personal devastation of the venture'sfailure. Survivable but painful.

Important AssumptionsThe following captured critical assumptions will determine the potential for futuresuccess.

A healthy economy that supports a moderate level of growth in the market.

Keeping operating costs low, particularly in the areas of product purchases ongoingmonthly expenses.


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Business Plan Interior Designing

Documents

Transcript of Business Plan Interior Designing