Introduction
Contemporary Ti Design creates and produces unique titanium jewelry. Contemporary Ti Design has many designs available in earnings, pins, or pendants. Steve Artificer designs and manufactures all of the products. To grow the company and attain the desired market penetration, the company set the following production/marketing goals for the next three year:
- Contemporary’’s designs should be used in at most 40 galleries.
- Increase the number of design options by 8% annually
The Company
Contemporary Ti Design, located in Hood River, OR, is a custom manufacturer of titanium jewelry. Contemporary Ti Design offers a broad range of jewelry, including pendants and pins as well as earnings. Steve Artificer created all of the pieces. The company will be based in his home. Steve sells the pieces directly through his website, as well as through select galleries and art exhibitions. Steve plans to employ a sales representative within the eighth month to manage customer interaction.
The Market
The jewelry industry is fragmented. There are thousands to even thousands of jewelers competing in the market for distribution contracts. While some work locally and distribute, others have national distribution networks. Some artists will design products for larger companies to manufacture, others will design and make the pieces themselves. Here are some examples of Contemporary Ti Competition:
- Artists create designs that can be manufactured on large scale and distributed across the country.
- Companies that employ their own designers. This is where all the work is done in-house: design, marketing, and wholesaling.
- Steve is one example of an artist who creates and makes each piece and then retails them.
Contemporary Ti Design will target two distinct customers. The first is the end customer, and the second is galleries that will be used to distribute the products. Steve will facilitate interaction with the end customer via his website as also through personal contact at shows/exhibitions. The exhibitions and events will allow visitors to meet with the galleries (museum shops and jewelry stores).
Financial Considerations
Steve Artificer has provided equity capital for Contemporary Ti. We will pass our break-even point within the first year. Based on sales projections over the next three-years, conservative projections predict an annual revenue in excess of $75,000 by year 3. The company expects that its cash account will remain healthy.
1.1 Objectives
The following objectives are set for the initial three years of operation
- To create a jewelry manufacturing company whose primary goal is to exceed customer’s expectations.
- Contemporary’s designs can be used in at most 40 galleries.
- To increase the number of designs offered by 8% per year.
- To develop a profitable/sustainable home-based company.
1.2 Mission
Contemporary Ti Design is a company that creates innovative jewelry out of titanium. We are here to retain and attract customers. Everything else will follow this principle. We will exceed your expectations with our services.