Jewelry Business Plan Template | Free Business Plan Software

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Here's the Business Plan Template's Table of Contents:

1.0 Executive Summary
1.1 Objectives
1.2 Mission
1.3 Keys to Success
2.0 Company Summary
2.1 Company Ownership
2.2 Start-up Summary
Table: Start-up
3.0 Products and Services
4.0 Market Analysis Summary
4.1 Market Segmentation
Table: Market Analysis
4.2 Target Market Segment Strategy
4.3 Service Business Analysis
4.3.1 Competition and Buying Patterns
5.0 Strategy and Implementation Summary
5.1 Competitive Edge
5.2 Marketing Strategy
5.3 Sales Strategy
5.3.1 Sales Forecast
Table: Sales Forecast
5.4 Milestones
Table: Milestones
6.0 Management Summary
6.1 Personnel Plan
Table: Personnel
7.0 Financial Plan
7.0 Financial Plan
7.1 Start-up Funding
Table: Start-up Funding
7.2 Important Assumptions
7.3 Break-even Analysis
Table: Break-even Analysis
7.4 Projected Profit and Loss
Table: Profit and Loss
7.5 Projected Cash Flow
Table: Cash Flow
7.6 Projected Balance Sheet
Table: Balance Sheet
7.7 Business Ratios
7.7 Business Ratios
Table: Ratios

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Jewelry Business Plan Market Analysis Summary Sample

The market for jewelry consists of all female adult individuals, as well as some male individuals who require watch maintenance services and those who wish to purchase items for their female partners. Therefore, the market for this jewelry store is synonymous with the adult population of Morgantown, WV, in which the Suncrest Town Centre is located as well as Uniontown, PA a 45-minute ride from the store location – where the owner is based and can therefore spread the word. Furthermore, Morgantown, WV has been voted numerous times as one of the best cities to live in and will therefore attract many customers to come and visit for the day from the surrounding areas.

4.1 Market Segmentation

 [COMPANY NAME] has several distinct groups of people who will shop at the store. These specifically include couples who are either looking for a romantic present, those who seek to maintain or repair their current items of jewelry, as well as those who are shopping for themselves for a special event or an everyday item, or those who are shopping for other family members or friends.

Table: Market Analysis

Market Analysis
		Year 1	Year 2	Year 3	Year 4	Year 5
Potential Customers	Growth						CAGR
18+ Population of Uniontown, PA	2%	12,422	12,670	12,923	13,181	13,445	2.00%
18+ Population of Morgantown, WV	5%	30,330	31,847	33,439	35,111	36,867	5.00%
Total	4.15%	42,752	44,517	46,362	48,292	50,312	4.15%

4.2 Target Market Segment Strategy

Paper advertising. [COMPANY NAME] aims to pursue the more conventional forms of advertising through local papers and other fashion publications in order to attract everyday customers.
Website. With the growing use of the Internet, the Web has become an indispensable tool. The [COMPANY NAME] therefore plans to have a full-service website that allows the visitor to view the store's current inventory, as well as obtain contact information. The Business will develop the site even further to allow customers to make purchases online.
Word of Mouth. [COMPANY NAME] will also plan to target its market by building up a solid reputation that will be spread to other potential customers via word of mouth.

4.3 Service Business Analysis

Competing jewelry businesses in the Morgantown area include - Kays Jewelers; Universal Jewelry; Elder Beerman; Piercing Pagoda; JC Penny's; Masman Jewelry; Jane V Jewelers.  ElderBeerman, JC Penny's, and the Piercing Pagoda are all located in mall complexes, and are all well known brands.  There are lessons that can be learned from their longevity in the business.  Though, with a larger business regional items that are popular may be overlooked with a corporate brand, thus resulting in a loss of sales opportunities.
The remaining jewelry stores listed are singular, self-owned and operated businesses.  Location, and a modern store design and layout will be the catalyst for the [COMPANY NAME]'s business growth.

4.3.1 Competition and Buying Patterns

The jewelry industry is composed of thousands upon thousands of people. Some work and distribute locally, others have national distribution systems set up. Some artists will design products for larger companies to manufacture; others will design and make the pieces themselves.
Competition takes the following forms:

• Artists creating designs that are then manufactured on a large scale and distributed nationally. The artists might be famous enough to have their own one-name studio that they create designs and the product is made and sold under the larger company’s name. If the artist does not have national name recognition, the designers might belong to a firm that is hired to develop designs for a company who will manufacture and sell the product.
• A company that has their own designers in-house. In this case everything is done in-house, design, marketing and wholesaling. Another variation would be in-house designers, marketers and wholesalers with the manufacturing contracted out.
• Artists who design and make all of the pieces themselves, and then do the wholesaling or retailing themselves.
• The buying patterns of consumers fall into typically two types: gifts and impulse purchases. A gift purchase occurs when the buyer is looking for a gift for someone, sees the jewelry piece, and then purchases it. In this case the plan is to make a purchase, it is just not known what or where that purchase will be made. The other buying pattern is an impulse purchase. Someone will be shopping, they are not in need of anything, will see the item and have to have it, buying it on the spot. One last pattern that occurs less frequently is if someone was looking for an "accessory" that would match an outfit and happens to come across the piece of jewelry and buys it. Price is oftentimes the major influencing factors on whether or not someone will make any of the above purchases.

5.0 Web Plan Summary

The [COMPANY NAME] will develop a website, which will primarily feature information regarding the Company's mission, history and inventories as well as location details and hours of operation. There will also be a 'contact information' section, where more in depth inquires will be directed to the Company's phone number. The [COMPANY NAME]'s website will also serve as a basic catalog of offered jewelry pieces and services that will be provided. 

5.1 Website Marketing Strategy

The website's marketing strategy will employ two distinct mechanisms:

• Search engine submission: This will be most useful to people who are unfamiliar with the [COMPANY NAME], but are looking for a local jewelry supplier. There will also be searches from customers who may already know about the Company, but are seeking additional information or wanting to browse inventory online.
• URL on all printed material: For every printed piece of material that [COMPANY NAME] will offer, the site's Web address will be listed, encouraging a visit to the site.

5.2 Development Requirements

The site will be developed upon receipt of grant funding. One person will be hired to build and maintain the site, keeping it up to date with the catalog of jewelry and services. Eventually, the site will also add an e-commerce function where customers will be able to place orders online and have items shipped directly to their homes.

6.0 Strategy and Implementation Summary

[COMPANY NAME] intends to implement the grant funding in the following ways:

Use	Funding
Deposits	$30,000
Working capital	$15,000
Store security	$10,000
Marketing	$10,000
Opening supplies	$20,000
Company vehicle	$20,000
Store improvements	$5,000
Inventory	$120,000
Accounting	$15,000
Total	$245,000.00

6.1 SWOT Analysis

The main strength of the [COMPANY NAME] lies in the experience the owner has accumulated over the past five years within the jewelry industry. The Company's current weakness, the lack of starting funds and working capital, can be overcome by the receipt of grant funding. Although there are certain threats from other already-established boutiques, the owner plans to overcome this by leasing a store in a central location to attract as many customers as possible as well as by offering more unique pieces of jewelry and affordable maintenance services. This will enable the Business to take advantage of current market opportunities, allowing it to double its sales by 2012.

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