Introduction
Hart Fraeme Gallery features a fine art gallery as well a full-service custom-frame shop. Hart Fraeme Gallery’s core business is custom framing. The company is unique in its field in that it offers same-day and 11-day custom framing, in contrast to the industry-standard 21-day lead time. Hart Fraeme Gallery is founded on a dedication to offer the Triopolis metro area the most innovative, trend-setting designs and a finished product of impeccable quality at unmatched speeds.
The Company
Hart Fraeme Gallery (S-Corporation) is run by Hart Fraeme. Hart Fraeme has many years’ experience running a custom frames shop and an art gallery. Hart Fraeme Gallery was born from the knowledge, experience, and contacts Mr. Fraeme has acquired over this period.
The company doesn’t currently have a retail location. However, plans are being made to buy a space in Uptown Mall by September 2005. This location is attractive for the fact that there are not many frame shops within the immediate vicinity. It also has the same demographics as Hart Fraeme Gallery’s target client.
Products and Services
As mentioned above, Hart Fraeme Gallery’s primary focus will be on custom framing, which is expected to generate roughly 75% of monthly income. The company will offer artwork for purchase, but this will be done primarily as a service to customers and typically will not exceed 25% of monthly sales. Although artwork is required to model and market custom framing options that are numerous, it is still necessary. It will have a variety of over 500 mouldings, and more than 1,000 unique matboards. Hart Fraeme Gallery is also offering a large selection of decorative mats, design styles, as well as display options.
Financial Outlook
Strong demand is evident for custom framing. In fact, 42% consumers indicate that they expect to make a purchase in the next 12 months. According to industry analysis, custom framing sales are expected to grow by 46% in 2006. Hart Fraeme Gallery is confident this will allow it to establish itself on the market. Financial projections are positive, and the company expects to generate healthy sustainable income and gross margin over the next three years.
1.1 Objectives
Hart Fraeme Gallery has four main goals. The first two are related to establishing a market presence at the outset, while the third and fourth are ongoing goals.
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- Open a retail location in the Triopolis metropolitan area. Specifically, the company plans to enter into a lease agreement with the Uptown Mall, to lease a retail space of 1,500 – 2,500 square feet, with a stockroom / workshop area of at least 750 square feet.
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- Establish consumer awareness of both product and company through marketing. This can be accomplished by advertising weekly in local newspapers, including Pioneer Press and Star Tribune for four weeks prior to and two weeks following the grand opening, and then on alternate weeks thereafter for three months, advertising more or less as results suggest. Additionally, the company will create a website detailing products and services, which will include an online shopping cart for Web purchases.
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- The industry leader in project completion time with an average of 11 days for most orders and same-day framing using selected materials. To achieve this, you will need to purchase the appropriate framing equipment. You also need to have a selection stock materials on hand for any same-day projects. Establishing business relationships in the material industry, such as Roma Moulding & Mouldique, is crucial. It is also important to keep track of weekly delivery and ordering with these vendors.
- You should be focusing on custom framing. It is important to emphasize cutting-edge and high-end design. The company will be monitoring changes in decor and design trends. Particularly, staff must follow such trends; therefore, the company will subscribe to several trade magazines, such as Picture Framing Magazine, Decor, and Art Business News.
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2 Mission
Hart Fraeme Gallery was founded with the goal of offering the Triopolis the most cutting-edge, trend-setting designs as well as a finished product that is unmatched in quality and speed.
The company is proud of three things.
- A strong knowledge base and ongoing study of current and traditional design trends and decorating styles has led to eye-catching and unique frames designs.
- You can expect the best craftsmanship and a constant commitment to excellence.
- Dedication to work. Constant drive to exceed the industry-standard 3-week time frame to complete product.
1.3 Keys to Success
Hart Fraeme Gallery is a success story because of four key factors:
- Quality Craftsmanship HTML8211: Because picture framing can be aesthetic, the product must be flawless.
- Innovation, Creativity Custom framing means uniqueness. The customer is entitled to a custom-made product.
- Professional, Fast Service 11 days is an amazing change in pace for a business that has a three-week lead time. Furthermore, same-day framing in today’s society is highly sought after.
- Embracing Tech #8211 The computer has been a great time-saver in all business sectors, including art framing. Computerized equipment is quickly becoming a necessity for modern framers.