NALB Creative Center (NCC) is the place where artists meet. NALB is an acronym that stands for “No Artist left Behind” and our company slogan is: “Live your Art.” NCC, a specialty retail shop, offers a large range of materials and supplies for artists, crafters, and a gallery. It also has an education center and a gallery. NCC will offer a friendly environment that will encourage and support both amateurs and professionals in the Big Island arts community. NALB will sponsor art shows and competitions, art and craft fairs, scholarships for artists to continue their formal education, and other community events. NALB will offer creative classes and workshops in many media and techniques.
NALB is a leader in a rapidly growing market. Two stores are currently available on Hawaii’s island that only sell art and craft supplies. Neither of these stores is able to offer education and hands-on opportunities. They do not support the artists in any active way. They also are not able offer the same level of customer support as NALB. NALB is the only island art supply store that is exclusively owned and operated by artists. NALB Creative center will help West Hawaii’s professional artist community. We will also serve the growing retirement market (100% growth over the last three year), many of whom settled in Kona due to the vibrant art community. NALB will actively market to teachers and students in the growing public and private education systems.
NALB is operated and owned by practicing artists. The company was founded on the belief that satisfied customers are essential to its success. NALB Creative Center has this in mind and will work hard to meet all of its customers’ expectations. NCC will play an active role in the local craft scene, providing education and support. NALB staff will be trained in the latest products and trends. NALB’8217;s owners can anticipate consumer trends and make them happen in their creative work.
Products, services, and delivery
NALB will be located in the commercial business park between Costco and Home Depot, in a 3,000 square foot store. Many of their work is still available to us from cabinet makers, who were the previous tenants. NALB will have enough space to sell a variety of craft and art supplies. Due to our size, we will also have the purchasing power to buy from manufacturers directly, thus avoiding middle man mark-ups. Regular customers will receive discounts. Orders over $300 qualify for free delivery to North Kona. NALB offers Artist’s Obasis holidays by providing local accommodation, rental equipment, supplies, maps, and guides.
NCC will see modest profit in the first month. Margins are forecasted to be at 50%, due to the ability to buy wholesale. The first full year’s sales will exceed $300,000. Our projections are conservatively for a growth rate 5% the first three-years and 20% thereafter. However, existing art supply retailers are reporting growth rates exceeding 30%. We budget conservatively, but have great vision.
- Customer Satisfaction – To create an environment where art and crafts enthusiasts can shop by providing knowledgeable and professional support. Customer satisfaction will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of sales are accompanied by an additional purchase).
- To achieve 80% market share and be the top art and craft supplier in the island.
- To achieve a 50% profit margin during the first year.
- To be an active and vocal member in the community and to provide continual re-investment through sponsorship of community activities and celebrations, including: supporting art and craft events, hosting classes, providing scholarships.
- To create, in years two and 3, Artist’s Oasis for Hawaii. We would organize local accommodations and rental materials for visiting artists.
1.2 Keys to Success
To make NALB Creative Center succeed, we need:
NALB Creative Center’s mission is to support artists and crafters through the provision of quality supplies from reputable brands to meet their needs. They also host and support shows, classes, and contests. The island is promoted as an artist’s paradise and destination.
We will constantly strive to provide the customer with what they need. We will also continue to review the market. We will offer new products and services in areas where they are needed. NALB will be maintained as an area for artists to gather.
Our customers choosing us to fulfill their expectations in price, service and selection will be the ultimate measure of our success.