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SIMPLE-WORKS
Business Plan and Status
Why are we doing this?
Create a profitable internet business which provides
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Financial piece of mind and
security
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Flexibility to stay at home while kids are school age (yes even in high
school)
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Income for retirement by 68
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Fund ¾ of Peter’s and Rachel’s college education to a State
University
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Purchase of vacation home within 2 hours of Seattle by 2010
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Pay off home mortgage 10 years
early
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Financial means to give back to the
community
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Yearly Family trip
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Yearly Bart and Laura retreat
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Yearly Laura retreat
Where are we now?
Product
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Selling wide variety of miscellaneous items i.e. CD’s, Toys, Books,
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Niche or theme not developed.
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Brainstorming ideas
Marketing/Sourcing/Research
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eBay Store: Simple-Works. Functions as testing ground and placeholder for defined business.
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Services: Combined shipping, Drop Ship, Gift Wrap, Gift
Card
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About Me Page: to be developed
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Use Terapeak, Turbolister,
Financial Goals
Where are we going this year?
Product Concept > Develop product line supporting a lifestyle store
Concept Idea #1: Needleart
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Target Market – Experienced and new hand crafters who embrace the simplicity of slower times. Experience creative, relaxing, inspiring simple hobby that can be done alone or as part of a community.
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Product Categories – Sewing, Knitting, Needlepoint, Cross stitch Crocheting, Weaving, Embroidery, Embellishments
Concept Idea #2: Sewing/Fabrics
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Target Market: Crafters who focus on sewing or crafts which can be embellished with sewing. Key words: clothing, home dec, teens, creative, customize, personalize, streamline,
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Product Categories – Clothing, Quilting, Home Dec, Crafts, Embellishments, Collectables –vintage machines and fabrics,
Concept Idea #3: Paper Crafts
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Target Market:
Everything Paper for Crafters
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Product Categories – Scrapbooking, Cardmaking, Framing and Matting, Rubberstamping, Origami, Paper Mache, Decoupage, Bookmaking, (Wedding Invitations, Birth Announcements??)
Product Mix > Include high ticket (drop ship) items specific to category, basic items and accessories, trend items, product bundles, written guides, books.
Sourcing/Marketing
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Source Product, Test Product
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Attend eBay Live, June
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Attend Craft and Hobby Show, Chicago, July
21-23
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Attend National Sewing Show, Vegas, September
19-21
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Develop exciting eBay storefront
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Website
Financial Goals
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September 2006 - Powerseller
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4th Quarter 2006 - $1600 per month net ($53 day
net)
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2007 - $2500 per month net ($82 day
net)
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2008 - $3000 per month net ($100 day net)
Questions:
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What are your thoughts on the three product concepts? Suggestions?
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Starting out should I keep to just few categories for the lifestyle store? How do I ease into this? So many vendors feels overwhelming.
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Is business name Simple-Works too broad or not narrow enough? Does it make sense?
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Do you have to use .com for domain or is there another that is ok? Simple Works is taken.
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When researching competition, how do you find top stores in a category?
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What are examples of goals for attending a show? eBay live?
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Is there a program/service available that evaluates profitability of the listings including markup and net profit? Or do you have to create this in excel or QuickBooks?
Research Questions:
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How many sewing machines do I offer? Is it just specific to sewing? What about embroidery? Computerized? Kids machines? Industrial? Portable?
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Is there really an upsurge in sewing? Is it enough to support a business? (I know these are my old experiences) Given my space how do I offer fabrics? Rot? FF? DF? Is it really profitable to spend my time cutting fabric (fat quarters etc)?
Needleart
Knitting yarns*
Knitting organizers/totes*
Knitting accessories ie needles
Knitting boards and looms*
Knitting kits adults and children
Knitting books
Knitting machines and accessories*
Needlepoint kits, canvases, needles, books, patterns, yarn
Cross-stitch fabric, linen*, frames, floss, patterns, books, kits,
Crocheting – hooks, kits, patterns, thread, books,
Embroidery Hand* – floss, linen, hoops, needles, patterns, kits, books, stabilizer,
Embroidery machines*- design cards/cd’s, thread, bobbins, digital software
Weaving looms, yarns, bobbins, patterns
Embellishments* – bedazzle, buttons, trims, appliqué, fabric paints, sequins, tassels, Sewing* (see below but more limited)
Sewing and Fabrics
Vintage Sewing Machines and accessories*
Vintage Fabrics*
Sewing Machine* – Electronic, Mechanical, Computerized, Embroidery, Portable, Handheld, Kids, Industrial
Sewing Machine – Parts and accessories
Sewing Machine - software
Sewing Machine Memory cards such as the Amazing Box 2 for flash car
Sewing Furniture & cabinets
Sewing Chairs
Cutting tables
Dress forms
Sewing Notions – scissors,
Embellishments* – trims, buttons,
Specialized lighting i.e.: Ott-Lite
Magnifying lamps
Quilt hanging systems
Sewing Mats/cutters
Quilting Cabinets
Quilt squares or quarters
Quilt patterns and books
Organizing systems
Fabric Cabinets
Sewing vacuums
Irons
Steamers
How to books
Instructional DVD
Instruction PDF’s
Project kits (doll making, purse making, fabric frames etc.)
Kids Sewing Project kits
Teen Sewing project kits
Gift sets
Drapery hardware and accessories
Papercrafts
Scrapbook – organizers, paper, cutters, trimmers, grommets, inks, chipboard, adhesive, photo editing software, Die cutting machines, Dies, pens, scrapbook kits, patterns, Cardmaking/rubberstamping: paper, stamps, inks, vellum, organizers, travel cases, punches, envelopes and templates, books, magazines, sizzix, xyon, eyesets, tools, cutting mat
Framing and Matting: point driver tab, mat cutter, hangers, frames,
Origami: Paper, instructions, projects,
Quilling: Board, paper,
Decoupage: books projects, materials
Bookmaking: paper, handmade paper,
Machines for crafting
Sewing Machines – serger,
Knitting Machines - $100, 66% sell thru, range 0-4500, listings 1400
Embroidery Machines - $1000, 48% sell thru, Range 3-14000
Matt Cutter - $158, 70% sell thru, Range $1.25 - 3100
Heat transfer press - $258, 50% sell thru, Range $10 -1900
Shrink Wrap Machines for baskets and packaging - $228, 50% sell thru, Range 25-2300
Looms - $25, 75% sell thru, Range $1-100
Die Cutting Machines - $62, 76% sell thru, Range $3-440
Bart and Laura key words:
Community, Simplicity, Creativity, Spirituality, Choose, Compassion
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