Review and Respond To a Business Plan

Attached is a business plan that needs to be reviewed please see instruction belowImagine you are an investor looking to fund or get involved in a new business. From this viewpoint, please review the Business Plans posted by your classmates and choose one to provide feedback for this Assignment. Answer the following questions in a 1-page report.–Did the plan provide a clear picture/idea of the purpose of the business? Why or why not?–Given the information provided about the overall industry and competitors, do you feel this business will be able to stand out? Why or why not?–What is your feedback or ideas for extending their marketing strategy to attract more business?–Given the overall financial projection and business described, would you be interested in investing in this business? Why or why not?–Provide any additional comments or suggestions. As long as they are positive and productive!Complete a one page write up on the above and submit via the Assignment link. Please also take a moment to send a copy of your report to your peer via the Class Message/Class Email.
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K&A Designs
Alfred Vizzari
Business Plan
Executive Summary
K&A Designs is a wooden furniture business that builds custom wooden furniture that is
high quality and environmentally sustainable. We have our store is located in Augusta, Ga where
is #116 in job growth in America, according to Forbes.com. It is also #139 on Forbes list for the
best places for businesses and careers in America.
K&A is a small business that is a sole ownership business. It was founded by my wife
and myself to continue our passion of making excellent wooden concepts come to life. We work
with customers to find out exact what type of design it is they are looking for. We make it our
goal to ensure that every product is backed by our guarantee that you will love it. We strive to
make the world better than when we found it, so we try to be as green as possible when it comes
to our products. We only use the highest quality wood that is environmentally sustainable. We
also try to use 100% recycled and reclaimed wood. In addition to using reclaimed or recycled
wood, it allows us to cut down on material cost so we can maximize profits at the same time
allowing us to provide our clients with the best deals possible.
At K&A Designs we build custom wooden furniture ranging from anything like coffee
tables, dining tables, shelves, doors, various décor, and whatever the client can design up in my
store. We sell our products in our store where customers can sit down with my wife and let their
concept come to life. We also sell our products on social media and our website. We also
contract with local companies and builders to place our product in their stores as well as build
custom pieces during the construction phase or remodel phase.
K&A was created by a hobbyist that wanted to share his love for creating things to
everyone. This allows us to function very well on a budget as well saving money due to not
having to purchase all new tools. A strength and weakness of K&A Designs is our man power.
It’s a weakness for the obvious; less people means projects take longer. It’s a strength because it
allows us to control our quality a lot easier. Quality and customer happiness are our companies
number one goals.
Company Description
My company is called K&A Designs and it is a custom wood furniture business. We are
in downtown Augusta, Ga. I chose Augusta because it the hometown of my wife and me. It is
also #139 on Forbes best places for business and careers. My wife, Kenzi, is the inspiration
behind my business. She is always encouraging me and pushing me to build all kinds of things.
Before I started this business, my wife would come up with a design or a concept and ask
me to build it. The more products I did, the bigger and more complex the concept got. This
meant that as I would go I would need to get more tools. As the complexity of the project
increased I would have to learn new techniques. Being on a budget, most the intricate details
would have been too expensive to purchase from stores or shops, so I would watch videos to
teach myself new techniques and learn new tools to make these designs to the certain style I was
aiming for.
Currently my company is only my wife, myself, and two other employees. My wife and I
run the company together and she manages the appointments and the designs aspect. She also
speaks with the customers and helps them develop custom pieces that is that exactly what the
customer is looking for. I do the building and handle the books. The other two employees I have
do various things around but are mostly just carpenters.
K&A is a custom carpentry company that builds custom wood projects. We work with
clients to help them develop that truly custom piece that fits perfectly for their home, business, or
office. We also are contracted by contractors to build custom details in whatever project they
may be working on. Our goal for the company is to create high quality products that can
withstand the elements and time.
Products or Services
K&A Designs creates handmade furniture and custom wood pieces. We will build
anything from doors, blanket ladders, tables, coffee tables, cutting boards, and whatever you can
come up with. We try to create our products from mostly recycled and reclaimed wood. We work
with customers to get a feel of the type of piece that they may be looking for. We sell our
furniture in local shops, in our store front, as well as on the internet.
Industry Analysis/ Competitive Market Analysis
According to woodworking network.com, by 2021 home furnishing demands are
estimated to be around $35 billion dollars. Augusta has a relatively untapped market for custom
wooden furniture. The competitors in the area are selling of craigslist and other similar
platforms. When it comes to furniture, wood furniture is the most preferred says market
research.com.
Marketing Strategy
K&A designs would use different marketing strategies to promote the business. The
biggest three marketing we use is positioning, social media website, and traditional ads. Of
those three strategies, the most important is the positioning. What makes K&A Designs different
from the other furniture stores and the furniture makers. We want to make sure that we get the
word out that our prices are lower than our competitors. We make sure to use environmentally
sustainable wood and all our products are of the highest quality to ensure the best look and so
that they may last for a long time. K&A Designs uses social media sites to push out word of
mouth and to show off our products while reaching the most amount of people. Facebook is our
main source of digital medium. Traditional ads are a great strategy tool. K&A Designs has tv
commercial but our main source of traditional ad is networking. K&A Designs does networking
with interior designers, contractors, and local businesses to expand business and to get my
furniture placed in their stores.
Management Strategy
The management strategy for K&A design has to flow perfectly in order to get orders out
in a timely manner. SWOT analysis has been a huge tool for my company since it allows us to
indentify our strengths and weakness. This allows myself to develop a strategy that is the most
effective for our needs. Since build furniture takes time we will need to invest in equipment that
allows us to work quicker and more efficient. Time is money. This also allows us to plan which
employee may be better for that particular job; since my company strives for perfect and
demands excellence.
Financial Analysis
K&A Designs was started with a line of credit loan from our bank. This allows us to not
be hit with a huge loan and huge payment before we are able to start making a profit. This is
really good for our small business because it allows us to use credit to purchase the materials that
we need; when we need it. We estimate that in the first 12 months of business we will generate
about $400,000. Since we use nearly 100% recycled or reclaimed wood that always us to cut
down on the cost for materials. Since I have been making wooden furniture for years now, I have
acquired tons of tools. This also has allowed me to cut cost on not having to purchase more tools
for the job. Thus, allowing me to create a profit quicker.
However, because K&A Designs works with wood there is a lot of saw dust as well as
paints and stains. This created a need for us to have a store front that had a warehouse that is well
ventilated.
References
Augusta, GA. (n.d.). Retrieved from
https://www.forbes.com/places/
ga/augusta/
Furniture Market Research Reports &
Industry Analysis. (n.d.).
Retrieved from
https://www.marketresearch.co
m/Consumer-Goodsc1596/Consumer-GoodsRetailing-c80/Furniture-c115/
K. (2017, December 06). Residential
furniture industry: Trends &
analysis. Retrieved from
https://www.woodworkingnetw
ork.com/news/almanac-marketdata/residential-furnitureindustry-trends-analysis
Solid Wood Furniture Market
Research 2018 Industry Size,
Growth, Share, Trend and 2025
Forecast. (n.d.). Retrieved from
https://steemd.com/@batav
Wagner, N. (2017, November 21).
Wooden Furniture Promotional
Strategy. Retrieved from
http://smallbusiness.chron.com/
wooden-furniture-promotionalstrategy-70318.html
http://www.swst.org/wp/meetings/AM14/pdfs/presentations/dasmohapatra%20pdf.pdf
https://qymarket12.wordpress.com/2018/02/07/global-solid-wood-furniture-marketresearch-report-2018-size-share-trends-growth-analysis-and-forecast-2025/
K&A Designs
Alfred Vizzari
Business Plan
Executive Summary
K&A Designs is a wooden furniture business that builds custom wooden furniture that is
high quality and environmentally sustainable. We have our store is located in Augusta, Ga where
is #116 in job growth in America, according to Forbes.com. It is also #139 on Forbes list for the
best places for businesses and careers in America.
K&A is a small business that is a sole ownership business. It was founded by my wife
and myself to continue our passion of making excellent wooden concepts come to life. We work
with customers to find out exact what type of design it is they are looking for. We make it our
goal to ensure that every product is backed by our guarantee that you will love it. We strive to
make the world better than when we found it, so we try to be as green as possible when it comes
to our products. We only use the highest quality wood that is environmentally sustainable. We
also try to use 100% recycled and reclaimed wood. In addition to using reclaimed or recycled
wood, it allows us to cut down on material cost so we can maximize profits at the same time
allowing us to provide our clients with the best deals possible.
At K&A Designs we build custom wooden furniture ranging from anything like coffee
tables, dining tables, shelves, doors, various décor, and whatever the client can design up in my
store. We sell our products in our store where customers can sit down with my wife and let their
concept come to life. We also sell our products on social media and our website. We also
contract with local companies and builders to place our product in their stores as well as build
custom pieces during the construction phase or remodel phase.
K&A was created by a hobbyist that wanted to share his love for creating things to
everyone. This allows us to function very well on a budget as well saving money due to not
having to purchase all new tools. A strength and weakness of K&A Designs is our man power.
It’s a weakness for the obvious; less people means projects take longer. It’s a strength because it
allows us to control our quality a lot easier. Quality and customer happiness are our companies
number one goals.
Company Description
My company is called K&A Designs and it is a custom wood furniture business. We are
in downtown Augusta, Ga. I chose Augusta because it the hometown of my wife and me. It is
also #139 on Forbes best places for business and careers. My wife, Kenzi, is the inspiration
behind my business. She is always encouraging me and pushing me to build all kinds of things.
Before I started this business, my wife would come up with a design or a concept and ask
me to build it. The more products I did, the bigger and more complex the concept got. This
meant that as I would go I would need to get more tools. As the complexity of the project
increased I would have to learn new techniques. Being on a budget, most the intricate details
would have been too expensive to purchase from stores or shops, so I would watch videos to
teach myself new techniques and learn new tools to make these designs to the certain style I was
aiming for.
Currently my company is only my wife, myself, and two other employees. My wife and I
run the company together and she manages the appointments and the designs aspect. She also
speaks with the customers and helps them develop custom pieces that is that exactly what the
customer is looking for. I do the building and handle the books. The other two employees I have
do various things around but are mostly just carpenters.
K&A is a custom carpentry company that builds custom wood projects. We work with
clients to help them develop that truly custom piece that fits perfectly for their home, business, or
office. We also are contracted by contractors to build custom details in whatever project they
may be working on. Our goal for the company is to create high quality products that can
withstand the elements and time.
Products or Services
K&A Designs creates handmade furniture and custom wood pieces. We will build
anything from doors, blanket ladders, tables, coffee tables, cutting boards, and whatever you can
come up with. We try to create our products from mostly recycled and reclaimed wood. We work
with customers to get a feel of the type of piece that they may be looking for. We sell our
furniture in local shops, in our store front, as well as on the internet.
Industry Analysis/ Competitive Market Analysis
According to woodworking network.com, by 2021 home furnishing demands are
estimated to be around $35 billion dollars. Augusta has a relatively untapped market for custom
wooden furniture. The competitors in the area are selling of craigslist and other similar
platforms. When it comes to furniture, wood furniture is the most preferred says market
research.com.
Marketing Strategy
K&A designs would use different marketing strategies to promote the business. The
biggest three marketing we use is positioning, social media website, and traditional ads. Of
those three strategies, the most important is the positioning. What makes K&A Designs different
from the other furniture stores and the furniture makers. We want to make sure that we get the
word out that our prices are lower than our competitors. We make sure to use environmentally
sustainable wood and all our products are of the highest quality to ensure the best look and so
that they may last for a long time. K&A Designs uses social media sites to push out word of
mouth and to show off our products while reaching the most amount of people. Facebook is our
main source of digital medium. Traditional ads are a great strategy tool. K&A Designs has tv
commercial but our main source of traditional ad is networking. K&A Designs does networking
with interior designers, contractors, and local businesses to expand business and to get my
furniture placed in their stores.
Management Strategy
The management strategy for K&A design has to flow perfectly in order to get orders out
in a timely manner. SWOT analysis has been a huge tool for my company since it allows us to
indentify our strengths and weakness. This allows myself to develop a strategy that is the most
effective for our needs. Since build furniture takes time we will need to invest in equipment that
allows us to work quicker and more efficient. Time is money. This also allows us to plan which
employee may be better for that particular job; since my company strives for perfect and
demands excellence.
Financial Analysis
K&A Designs was started with a line of credit loan from our bank. This allows us to not
be hit with a huge loan and huge payment before we are able to start making a profit. This is
really good for our small business because it allows us to use credit to purchase the materials that
we need; when we need it. We estimate that in the first 12 months of business we will generate
about $400,000. Since we use nearly 100% recycled or reclaimed wood that always us to cut
down on the cost for materials. Since I have been making wooden furniture for years now, I have
acquired tons of tools. This also has allowed me to cut cost on not having to purchase more tools
for the job. Thus, allowing me to create a profit quicker.
However, because K&A Designs works with wood there is a lot of saw dust as well as
paints and stains. This created a need for us to have a store front that had a warehouse that is well
ventilated.
References
Augusta, GA. (n.d.). Retrieved from
https://www.forbes.com/places/
ga/augusta/
Furniture Market Research Reports &
Industry Analysis. (n.d.).
Retrieved from
https://www.marketresearch.co
m/Consumer-Goodsc1596/Consumer-GoodsRetailing-c80/Furniture-c115/
K. (2017, December 06). Residential
furniture industry: Trends &
analysis. Retrieved from
https://www.woodworkingnetw
ork.com/news/almanac-marketdata/residential-furnitureindustry-trends-analysis
Solid Wood Furniture Market
Research 2018 Industry Size,
Growth, Share, Trend and 2025
Forecast. (n.d.). Retrieved from
https://steemd.com/@batav
Wagner, N. (2017, November 21).
Wooden Furniture Promotional
Strategy. Retrieved from
http://smallbusiness.chron.com/
wooden-furniture-promotionalstrategy-70318.html
http://www.swst.org/wp/meetings/AM14/pdfs/presentations/dasmohapatra%20pdf.pdf
https://qymarket12.wordpress.com/2018/02/07/global-solid-wood-furniture-marketresearch-report-2018-size-share-trends-growth-analysis-and-forecast-2025/

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