Business plan for party supply store

Business plan for party supply store

Generally, you have the option of either choosing a general partnership, limited liability Company or a sole proprietorship for a business such as party supply rental store. Ordinarily, sole proprietorship should have been the ideal business structure for a small – scale party supply rental business especially if you are just starting out with a moderate start – up capital in a small blogger.comted Reading Time: 8 mins Feb 04,  · If you are certain that starting a party supply business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your product Estimated Reading Time: 8 mins This business plan for a party supply retailer is a nearly exhaustive consideration of the party planning industry's potential in this owner's market. This entrepreneur has considered not only his initial startup, but related businesses that can be developed as blogger.com: $75,

party supply storeparty supply store - Business Plan #

Kokomo, IN This business plan for a party supply retailer is a nearly exhaustive consideration of the party planning industry's potential in this owner's market. This entrepreneur has considered not only his initial startup, but related businesses that can be developed as adjuncts. Note the use of available data to get a commanding picture of the business' possibility for success. The market research data is based on a limited geographical sales area, the central counties of the state of Indiana.

All costs and expenses are taken from the high side of any estimates or ranges. The sales figures are deliberately figured from the low side of any projections. This was done to present the project in the most conservative manner. Targeted market share projections are very conservative considering that we will be the only store of this type in the market area. The nearest full line competitors are 70 miles away. The cash flow chart does not account for four weeks in the year. For ease of business plan for party supply store all months are assumed to have exactly four weeks.

This action allows for some buffer effect in cash flow assumptions. The size of the store's inventory and projected sales figures have prompted some sizable discounts on the costs of inventory.

These savings are not reflected in the cash flow estimates, as they are not locked in until the actual purchases are made and are based on the size and the timing of the order.

The landlord, recognizing that the store will be a magnet store that will draw customers, offered an excellent lease at about half the going rate for the area that we are located in. We will generate shopping traffic for the other businesses in the building. The depreciation expense account in the cash flow projections is based on MACR schedules for assets in the 7 year category.

This plan covers three distinct stages, business plan for party supply store. The first is to open Celebrations of Kokomo. This will be a retail store selling three lines of merchandise. The break even point of sales vs. expenses occurs in the 5 th month of operation.

Debt service is paid from the first month of operation. Total accumulated profits compared to all accumulated expenses become positive in the 10 th month of the first year.

In stage two we hope to expand the business to include event planning and coordination of peripheral services such as hall, rentals, business plan for party supply store, business plan for party supply store, and caterers, business plan for party supply store.

This stage does not require financing and will be implemented, as it becomes viable. The retail market in the tri-county are of Jackson, Green, and Yardley counties is estimated at 3.

Greg Rivers: B. in Business Management from Lake Superior State University, office experience with Randolph Construction, Selling experience in both wholesale and retail sales. June Rivers: 28 years experience in billing, collection, scheduling, and office operations. Legal structure of the company : "S" Corporation. Type business plan for party supply store Business : Retail sales of decorations, paper goods and accessories for weddings, birthdays, anniversaries and all types of parties and occasions.

The main reasons for business plan for party supply store this company are to provide a useful and needed service to the community, to fulfil lifelong ambitions of being in charge of our destines, to work for our own economic welfare, and to function at our potential.

The short term goals for this business are to establish a thriving and competitive presence in the accessories niche of the wedding and party business, and provide a local alternative to what is now a major trip to the nearest competitor. We also want to provide glassware engraving, a unique and specialized service that will be recognized for high quality and considered to be an appropriate gift for very special occasions.

The long term goals start with cementing the position of the business business plan for party supply store a reasonably priced, full line, service center for the paper products and of the wedding and party accessories business, business plan for party supply store. We plan to expand this service to include printing services, consulting and organizing for weddings and other events, and some rentals for these types of events.

The etching and engraving part of the business is planned to expand to provide products and services to a wider area. We would like to be a supplier of personalized, etched to order, stemware and glassware in the Indiana, Ohio, and Michigan area. The business intends to compete in three areas. The first area is paperware. This includes all the plates, napkins, balloon, tablecloths, banners, business plan for party supply store, decorations, and so forth, that are needed to have a party or reception.

This will be the largest portion of the inventory and will require the most display space. The second area is centered around the wedding accessory market. These type of products include items such as unity candles, ring pillows, toasting glasses, garters, guest books, gift books, pompoms, and wedding albums. It is planned to expand this area to include a wedding and event co-ordinating service to provide one stop planning of all peripheral services such as the limo, hall, flowers, organist, soloist, horse and carriage, photographer or any other service that would enhance the event.

The third area is engraving and etching of stem ware and glasses. The ability to engrave names, dates, and patterns on champagne and wine toasting glasses will enhance the bridal part of the business.

For other events such as birthdays, gag gifts, business plan for party supply store, souvenirs and anniversaries the ability to engrave or etch names, dates, and patterns on the spot will create its own traffic. There is also a large market to be exploited in supplying other stores, businesses, and service clubs with both previously engraved glassware and glassware engraved per order.

In the local market place there is limited direct competition in the paper products area, there are no engraving places that cater to the glassware market, and the wedding accessories market does not have business that offers a full line, in depth selection.

None of these products are necessities, but they compete in a selected market that has several advantages. Despite the ups and downs of the market place, weddings will continue to consume these products and services. People will still continue to celebrate events and occasions and they tend to view the purchase of these types of products and services as being of importance to the occasion. We believe that the business will compete very favorable in terms of price, location, and selection.

As a whole, the wedding and party paperware industry has shown remarkable resilience in the market place. In the last few years there has been an upswing in the purchase of these types of products.

The number of suppliers has also increased significantly. Locally, there has been little attempt at serving this market. The wedding accessory industry has been a solid part of the economy for a number of years. There is no expectation in this industry of relinquishing market share or slowing its steady growth. As far as I can determine the glassware etching and engraving business per order is so scattered and fragmented that there is no practical industry to relate to. I have found one business in Florida that engraves glassware and one company in Plymouth, Michigan that actually does what I envision the market requires.

They are in such diverse markets that trying to use their data for market size and share is impractical. There is some competition in peripheral areas from other businesses such as business plan for party supply store glass companies that etch or frost glass. They typically do not do stemware or glassware, however. I anticipate slow to steady growth in the paperware and wedding accessory parts of the business. The growth of the etching and engraving business will be a little more explosive.

There is no direct competition and the primary markets, tourism and giftware, are experiencing great growth. The wedding industry has two major focuses in the year. Spring and fall weddings account for the majority of weddings. There is however, a long lead time in the planning and purchasing of the products in this area. This tends to flatten the purchasing cycle. The purchase of paper products for special events such as parties, anniversaries, and holiday celebrations are spread out pretty well and help keep the business in a good cash flow position.

The glassware end of the business will follow the wedding and paperware cycles, but will also be influenced by the flux of the tourist seasons. There are no licensing requirements, no franchising fees, or obligatory memberships in trade associations. The biggest impediments will be inventory costs, advertising budgets, and the cost of either renting or purchasing a location.

The only social or economic factors that would influence the business would be a major re-adjustment in how people perceive the importance of their wedding, anniversary, birthday or holiday parties.

This will be a retail operation on the wedding and paperware side and both wholesale and retail on the engraving side of the business. In general the demographics of the retail customers, reflect the broad spectrum of income and lifestyles of the surrounding community. Sales in the areas I have selected are not limited to any specific segment of society or level of income. However, the level of spending per event rises with the level of income of the particular customer.

The products will, in general, appeal more to women than men. Hobbies, education, profession, or age will not impact the buying decisions. Customers tend to purchase on the basis of price, quality, location, and service. The competition in the paperware part of the business is mainly from one paperware retailer 70 miles away. Local competition is provided by two stationary stores, business plan for party supply store, several drugstores, business plan for party supply store, and a large, broad spectrum marketer.

In the wedding accessory part of the business, the competition flower shops offer some accessories and the two bridal shops in the marketing area do not offer a broad spectrum, full line selection of bridal accessories. The etching and engraving part of the business shave no direct competition.

There are business have no direct competition. That are businesses in the area business plan for party supply store do stain or etch plate glass, but none that focus on stemware or barware.

The greatest competition my business will face will be Indiana Paper Products Company of Indianapolis, Indiana. They are a full line, well positioned company. They are at present, the best option available for the purchase of paperware products and for wedding accessories. Their price structure reflects their dominant position in the market. Their greatest attraction is the full spectrum of choices available to their customers.

Another strong competitor is Kokomo Bridal Salon. The area of competition is in wedding accessories.

How to Write a Business Plan - Entrepreneurship 101

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Sample party supply store Business Plan Template #, written on Monday, August 29, AM, in Hannibal,. Here's is How to Write a Business Plan BUSINESS DESCRIPTION. FirstThe Party Depot Enterprises is a quality party supply store, concept, party supply store business Jun 05,  · A starting party supply store needs to obtain a number of products, including paper products, decorations, banners and tablecloths. It will also need a full line of wedding accessories, such as cake tops, server sets and similar items. Halloween costumes, candy and entertainment supplies will need to be blogger.comted Reading Time: 7 mins Feb 04,  · If you are certain that starting a party supply business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your product Estimated Reading Time: 8 mins