NALB Creative Center (NCC) is the place where artists meet. NALB is an acronym for “No Artist Left Behind,” with our company by-line stating: “Live Your Art.” NCC is a specialty retail store offering a large array of artists’ materials and supplies, crafters’ needs, a gallery, and an education center. NCC will be a comfortable facility that will inspire, support and encourage amateurs as well as professionals and crafters from the Big Island art scene. NALB will sponsor art competitions and fairs, as well as scholarships for artists who wish to continue their education. NALB will facilitate, organize and offer creative workshops and classes in a variety of techniques and media.
The Market
NALB leads in a growing and exciting market. Only two stores currently exist on Hawaii offering only art and craft supplies. Neither of these stores is able to offer education and hands-on opportunities. Both do not actively support the artists community. NALB also cannot provide the level of customer support they can. NALB is unique in that it is run by artists and is the only art supply shop on the island. NALB Creative Centre will reach out to the increasing number of West Hawaii’s professional artists. We will also fill the needs of the growing market of retirees (100% growth in the last three years) many of whom have settled in Kona because of the thriving art community that exists here. NALB will market actively with teachers and students within the expanding private and public education systems.
The Organization
NALB is owned and operated by practicing artists. It is founded on the idea that maintaining satisfied customers is essential to the bottom line. NALB Creative Center will make every effort to satisfy all customers with all transactions. To maintain a presence within the art and craft community and close relationships to customers, NCC will be an active member of the local art scene through participation and education. The latest trends and products will be taught to staff at NALB. NALB’8217’s owners will be able to anticipate and create consumer trends through creative work.
Products, Services, Delivery
NALB will open a store in the commercial area between Costco, Home Depot and Home Depot. The store will measure 3,000 square feet. Many of the original tenants were cabinetmakers. NALB will have the floor space to offer a wide variety of art and craft supplies. Due to our size, we will also have the purchasing power to buy from manufacturers directly, thus avoiding middle man mark-ups. We will offer discounts to regular customers. All orders above $300 will receive free delivery to North Kona. NALB will offer Artist’s Oasis vacations to travelers by organizing local accommodations, renting equipment, selling materials, and providing maps and guides.
Financials
NCC expects to make modest profits starting in month 1. A wholesale buying option will ensure that margins of 50% are possible. The first full year’s sales will exceed $300,000. We are projecting conservatively a growth rate of 5% the first three years and 20% thereafter, even though existing art supply stores are reporting growth of over 30%. We have great vision, even though we budget conservatively.
1.1 Objectives
- Customer Satisfaction: To create a shopping environment that caters to the needs of the art and craft community of the Big Island by offering knowledgeable and professional customer service. We aim to measure customer satisfaction through repeat business (our goal for 50% of our customers to return within six months for an additional order) and multiple sales (our target is 30% of all sales that are accompanied with an additional purchase).
- To achieve 80% market share and be the top art and craft supplier in the island.
- To reach a profit margin of 50% within the first one year.
- To be an active, vocal member of the community.
- To create, in years two and 3, Artist’s Oasis for Hawaii. This program would provide local accommodation and rental of materials for visiting/vacationing artist.
Success keys 1.2
We must do these things in order to make NALB Creative Center a success:
1.3 Mission
NALB Creative Centre’s mission it to support and help the community of artists, crafters and craftspeople by offering quality, brand-name supplies to satisfy customer needs. By hosting and supporting shows and classes; and by promoting the island to be an artist’s oasis and destination.
We will strive, constantly, to supply what the consumer is asking for; we will continually review what is available in the marketplace. We will be able to offer the services and products you need. We will maintain NALB as a place for artists to gather.
Our customers will define success as their trust in us and their ability to deliver on their price, service, or selection expectations.