Heather and Hide LTD. 1 Page Business Plan
Overview
Heather and Hide LTD. has a clear business objective to develop, produce, promote and distribute handmade leather products. These products have been developed over 15 months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
As a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire 75% new customers and 25% return customer within a 3 year period. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build clear customer acquisition process in both direct to consumer and wholesale markets.
The Customer
Heather and Hide LTD. has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer opportunity as supporting local business with quality, useable products. This is a critical issue for our selected target market of women, 18-45 interested in fashion and functionality.
The Value Proposition
Heather and Hide LTD. is uniquely positioned to deliver value to women, 18-45 interested in fashion and functionality. "Heather and Hide LTD. will Provide a quality product, using remnant leather that would have otherwise gone to waste." In order to be deliver on this value proposition, our US made product is fashion forward and functional for every occasion. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the handmade leather goods market. We consider our key competitors to be: baremade, topo designs and lohi bags. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with baremade, topo designs and lohi bags by leveraging our access to 30 years experience in production, creativity and design.
Key Strategies
Over the next 6 months our focus will be to develop direct-to-consumer online presence, resulting in a minimum 8% click to sale rate via our online shop. This task will be undertaken in the context of our broader strategy to streamline and outsource production in an effort to prepare for wholesale orders in high-end boutiques across the U.S. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Launch online marketplace and nurture with SEO and email campaigns. Complete successful Kickstarter campaign to acquire expansion funds. Finally developing a strategy for wholesale opportunities.
About this document
Handmade leather goods Business Plan
This document was created by Lindsay of Heather and Hide LTD. using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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