Home Accessories and Gifts Business Plan

Home Accessories and Gifts Business Plan

Dan Carithers of Atlanta, one of America’s best interior designers, said that $500,000 would buy a room. But $400,000 would go to accessories. . . An accessory is what makes a person unique. They are the main ingredient in decorating. . . It is the accessories that give you the feeling of “I’m home”

The Scarlet Tassel – A start-up retail shop that offers unique home accessories, gifts and other products to consumers looking to create a home environment that feels like home. The Scarlet Tassel plans to open in Sandy Springs/Lower Roswell. This store will cater to middle- to upper-class shoppers who want to express their style and personality beyond the traditional gift and accessory chains. Unparalleled customer service, quality, and value will enhance the customer experience. In Year Two, The Scarlet Tassel will develop its online presence at www.thescarlettassel.com. In Year Three, The Scarlet Tassel will move to e-commerce, shipping directly to its web customers. The Web will serve as an extension of the store concept. It will act as a portfolio and virtual business card for the company.

The Scarlet Tassel’s growth plans include a comfortable year one total revenue. Year Two will include the development of services and marketing plans. This will allow for a 30% growth rate. Year three expectations are for further growth through e-commerce development and consumer awareness. Owners believe these expectations to be realistic and easily achievable.

Shelly Dozier McKee and Deirdre Staub, have combined 36 years experience in this business. They bring expertise that spans merchandising marketing, purchasing forecasting, operations, and direct import sourcing. Scarlet Tassel, Inc., a S corporation. Shelly and Deirdre each own a half-share of the business as well as equity investment. The Scarlet Tassel will be realized if additional funding is available for asset purchases and startup costs.

1.1 Mission

Mission of the Company

The Scarlet Tassel is a store celebrating the home. We are committed to providing unique, eclectic, and inexpensive home accents and gifts. This will allow us to continue growth and expand our involvement in the community.

Customer Creed

The Scarlet Tassel will inspire, inform and demonstrate to you, our customer how to make your home a reflection of you. We are confident that you will trust us with your home’s personalization and pricing needs.

Employee Pledge

We will provide a fair and friendly work environment that encourages creativity, diversity, innovation, and hard work for our employees.

1.2 Keys for Success

The following factors are key to the company’s success.

  • SELL products that provide quality and value to the consumer while meeting needs for an expression of personal style.
  • Provide custom services, such as workshops in-store and promotions personnalisées, so customers can be retained to make repeat purchases and refer others.
  • COMMUNICATE to our customers through magazine advertising, postcard mailings, or via our website.
  • ESTABLISH a welcoming, visible and accessible storefront and website that positions us as the top choice for products and services in the market and beyond.
  • Ensure that you are following the Scarlet Tassel’s principles through your daily management practices so that your business grows and prospers.

1.3 Objectives

  • Maintain a direct cost of sales of 45% or less, and gross margin of 55% or greater.
  • Maintain operating expenses to equal or less than that of plan.
  • In Year One, generate total revenue of $626,000
  • In Year 2, establish an Internet presence
  • Take Internet presence to e-commerce in Year Three.
  • In Year 2, you can expect an annual growth rate around 30%
  • For Year Three, expect an average annual growth rate around 20%

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