Dan Carithers, one of the country’s most renowned interior designers, stated that if he had $500,000 to spend in a room, he would spend $400,000 on accessories. . . A sofa is a couch, but a rug is also a carpet. Accessories can be used to show you who a person really is. They are the main ingredient in decorating. . . It’s the accessories that make you feel like you are at home. Source: Atlanta Magazine Shops Fall 2001
The Scarlet Tassel retail store is a start-up that offers eclectic home accessories to customers who desire to create a personal home environment. The Scarlet Tassel intends to be located in Sandy Springs/Lower Roswell. They cater to middle and upper-class consumers looking beyond national gift and accessory chain stores to find unique expressions that express their personal style. 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. The Scarlet Tassel will transition to e-commerce in Year Three. It will ship directly to its customers online. The Web will be an extension to the store concept.
The Scarlet Tassel is expecting a relatively comfortable total revenue year one. Year Two will be devoted to developing services and marketing plans. The Web presence will also be developed so that a 30% increase in growth is possible. Year Three expects to see further growth, including the development of ecommerce and increased consumer awareness. Owners believe these expectations to be realistic and easily achievable.
Shelly Dozier McKee and Deirdre Stanab bring together 36 years of combined experience to this venture. Their expertise spans merchandising and marketing, purchasing, forecasting and operations, as well as sourcing direct imports. Scarlet Tassel, Inc., is an S-corporation. Shelly and Deirdre each have a 50 percent share of the business, as well an equity investment. Additional funding is needed for asset purchases and start-up costs to make The Scarlet Tassel a reality.
1.1 Mission
Company Mission
The Scarlet Tassel is a store celebrating the home. We provide home accessories and gifts that are unique, affordable, and eclectic. Our goal is to create a fair return so we can continue growing and expanding our community involvement.
Customer Creed
The Scarlet Tassel will inspire, inform and demonstrate to you, our customer how to make your home a reflection of you. We want you to trust us and use our custom services, smart pricing, as well as a sense of trust to create a customized home environment.
Employee Pledge
Our employees will find a supportive, fair, and creative environment which values diversity, new ideas and hard work.
Success keys 1.2
The following factors are key to the company’s success.
- Promote products that deliver value and quality to the consumer, as well as expressing personal style.
- Provide customized services such as in-store workshops, personalized promotions and other custom services so customers can continue to buy and refer.
- COMMUNICATE directly with your customer base via print magazine advertising, postcard mails, or through our website.
- ESTABLISH a visible, accessible and welcoming storefront and website to position us as the premier choice for our products and services within the marketplace and beyond.
- Ensure that daily management practices reflect The Scarlet Tassel’s values so that a growth-oriented and successful business can be developed.
1.3 Objectives
- You should aim for a minimum of 45% in direct sales and a maximum of 55% gross margin.
- Keep operating expenses equal to or lower than the plan.
- In Year 1, generate $626,000 total revenue
- Create an Internet presence by year 2.
- Take Internet presence to e-commerce in Year Three.
- In Year Two, you will see an approximate 30% annual growth rate.
- In Year Three, you can expect a growth rate of around 20% annually