During my junior year of college, I decided to turn my hobby of calligraphy into a business. From hand-lettering prints to painting canvases to writing wedding placecards, this business journey continues to teach and mold me. Through it, I have developed a deeper love for entrepreneurship, creativity and excellence.
Feasibility Study: Executive Summary
Sugarplum Designs is a calligraphy and design company that focuses on creating custom, personalized art. This company primarily focuses on paper goods, such as prints, cards, envelopes and journals. What sets this business apart is its highly personal approach of designing goods that are unique to each customer. Though Sugarplum offers pre-made goods that could be bought from stock, most goods sold are born out of a consultation session where the customer pitches an idea of what he/she wants and the designer works to turn this idea into a tangible product. For example, a customer might approach Sugarplum wanting a set of cards and addressed envelopes. The designer would ask who these cards were for and ask for any names, addresses and other necessary information to include in the design. From there, the designer would work on the product and develop it from both the customer’s recommendations and his/her own artistic freedom and creativity.
This feasibility study focuses on the reasons why this business should be started. It focuses on the fact that the advantages of it far outweigh the disadvantages. Though there is importance in every part of this study, some specific sections to focus on are “Industry Analysis,” the SWOT analysis contained in “Operations/Production Feasibility,” and “Finance.” “Industry Analysis” focuses on why Sugarplum’s calligraphy goods correlate with the trends of the industry into which it is being implemented. As these goods are unique and thoughtful, the industry likewise possesses these traits, as well as harbors an appreciation for art. The SWOT analysis further enforces the positives of the venture as it shows how strengths and opportunities could be maximized while weaknesses and threats are minimized. Some strengths include creating a product that the customer cannot find anywhere else and being able to eventually expand the target market to include larger events, such as weddings. Weaknesses and threats include: losing the original format of customization for every customer and leaning toward a more mass production format. Both of these could be easily controlled and even if they did come to fruition, profit would still be made and the business would still be intact, but may just need a readjusted mission statement. “Finance” demonstrates how a high amount of profit can be made from small startup and maintenance costs. For example, the only startup costs would be buying enough supplies that would allow me to advertise what kind of services I offer. This figure would be approximately $100. From there, I would buy supplies based on the orders received, which means that these moneys would never be lost, as supplies would never be wasted.
Sugarplum Designs is a calligraphy and design company that focuses on creating custom, personalized art. This company primarily focuses on paper goods, such as prints, cards, envelopes and journals. What sets this business apart is its highly personal approach of designing goods that are unique to each customer. Though Sugarplum offers pre-made goods that could be bought from stock, most goods sold are born out of a consultation session where the customer pitches an idea of what he/she wants and the designer works to turn this idea into a tangible product. For example, a customer might approach Sugarplum wanting a set of cards and addressed envelopes. The designer would ask who these cards were for and ask for any names, addresses and other necessary information to include in the design. From there, the designer would work on the product and develop it from both the customer’s recommendations and his/her own artistic freedom and creativity.
This feasibility study focuses on the reasons why this business should be started. It focuses on the fact that the advantages of it far outweigh the disadvantages. Though there is importance in every part of this study, some specific sections to focus on are “Industry Analysis,” the SWOT analysis contained in “Operations/Production Feasibility,” and “Finance.” “Industry Analysis” focuses on why Sugarplum’s calligraphy goods correlate with the trends of the industry into which it is being implemented. As these goods are unique and thoughtful, the industry likewise possesses these traits, as well as harbors an appreciation for art. The SWOT analysis further enforces the positives of the venture as it shows how strengths and opportunities could be maximized while weaknesses and threats are minimized. Some strengths include creating a product that the customer cannot find anywhere else and being able to eventually expand the target market to include larger events, such as weddings. Weaknesses and threats include: losing the original format of customization for every customer and leaning toward a more mass production format. Both of these could be easily controlled and even if they did come to fruition, profit would still be made and the business would still be intact, but may just need a readjusted mission statement. “Finance” demonstrates how a high amount of profit can be made from small startup and maintenance costs. For example, the only startup costs would be buying enough supplies that would allow me to advertise what kind of services I offer. This figure would be approximately $100. From there, I would buy supplies based on the orders received, which means that these moneys would never be lost, as supplies would never be wasted.