Business Plan

Business Plan for Avant Meadow (Online Sewing Company)

Business Plan for Avant Meadow (Online Sewing Company)

Business Plan for Avant Meadow

Avant Meadow is a solely-owned home sewing enterprise that is state registered and sells artisan sewn items over the Internet. The formal business plan for Avant Meadow (an online sewing company) includes: its purpose, core values, measurable goals, SWOT analysis and marketing plan. This is to guide the initial development of the online company in its first year. These parameters mirror the guidance from the Small Business Administration.

Purpose Statement

To create artisan sewn products which are useful and practical, made with high quality materials and skilled craftsmanship.

Core Values

Avant Meadow is committed to:

Reduce, reuse, and recycle source materials creatively

Include detailed product information

Create functional designs

Provide clear communication about products and policies

Goals

The measurable and achievable goals of Avant Meadow, based on time availability to complete work, are to achieve:

90% client satisfaction rate

$500 in monthly sales

30% annual profit margin

60 days finished inventory

10 hours/week: 6 hours production, 4 hours marketing, 1 hour design research

Legal Structure

The sole proprietorship of the company is registered with a tax ID number according to Small Business Administration (SBA). An online search was conducted to ensure sole use of the name Avant Meadow. Following this search, the website, blog, and Avant.com name have been secured.

SWOT Analysis

Strengths

The entrepreneur has 30 years of sewing experience, owns and operates dependable production and computer equipment, has a well-organized, dedicated workspace and ample inventory to start a product line with little additional investment. In addition, the proposed entrepreneur understands that client satisfaction includes variables such as: quality workmanship, delivery timeliness, client respect, artisan-client trust and price point.

Weaknesses

A particular challenge for this entrepreneurial undertaking involves time management. In owning a home-based business, regular daytime hours do not exist and it may be difficult to manage the needs of both family and business. Donovan (2010) recommends scheduling buffer days or at least hours to address delayed shipment of supplies, equipment failure/maintenance, family illnesses and various interruptions. In her stress on taking care in setting deadlines and managing time, her rule-of-thumb is to not take an order if a buffer cannot be built into the deadline.

Opportunities

There are many opportunities to sell items online. Avant.com lists 12 sellers in the area including one seamstress. There are 100 registered sellers inside the state, of whom four sell handmade children's clothing and three sell sewing supplies. Also, the state has several new boutique clothing stores that sell children's clothing (e.g., Happy Spaces and Sproutlings). In addition, with many fabric stores in one area, the ability to experiment with fabrics is accessible, and the stores' staff is helpful in making social connections (networking) to find buyers.

Threats

The entrepreneur needs basic organizational skills to run a successful business. The most challenging of these are: handling business and legal documents, using email to best advantage, and not procrastinating in making timely ...