business

Business Plan

BUSINESS DESCRIPTION Oak Furniture Warehouse, is a furniture store specializing in the selling of furnishings constructed hardwoods, the bulk of which will be oak, to Coeur d’Alene area customers. The store will be a show floor/warehouse, with 85 percent of the available space open to the customers. The merchandise has been carefully selected to be affordable to the majority of consumers along with higher line items for upgrades and future purchases. Oak Furniture Warehouse, plans to open for business during January, 2000. The store will be open Monday thru Friday, from 10:00 am till 8:00 pm and Saturday, from 10:00 am till 6:00 pm. • In the strong and stable furniture sales market, Oak Furniture Warehouse will stand out as a leader in customer service and quality craftsmanship. • A strong customer focus, an accessible location and a broad product line will enable the establishment to slowly and steadily develop a loyal customer base. The retail demand for home and office furnishings is seasonal and business in Coeur d’Alene fluctuates according to the seasons. Primarily, the Oak Furniture Warehouse, will attract business during seasonally slow months through a comprehensive marketing and promotional strategy to generate additional revenues in these slack periods. Secondly, by directing attention to the business and home office markets, which budget more on a fiscal basis. Finally, there is no direct competition in the area giving The Oak Furniture Warehouse an advantage in the lack of competition. MARKET PROFILE Oak Furniture Warehouse, will provide quality, competitively priced specialty furniture not yet available from a single source in the Coeur d’Alene metro area. The goal is to sell solid, well built furniture through a knowledgeable and professional sales staff in an inviting atmosphere, that will encourage customers to return to the Oak Furniture Warehouse for all their home furniture needs. Customers will be attracted by: ¨ The well crafted quality of our product. ¨ The affordable pricing and group discounts. ¨ Convenience of a local location. ¨ Our convenient location, where ample parking is available. ¨ Word of mouth advertising from past customers. CUSTOMER PROFILE The 4 major categories of customers are: ¨ First time buyers, recently out on their own ¨ Young families - renting or purchasing a home ¨ Families updating their ...

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...omers will spot the store and stop to shop. • Active shoppers will see the advertisement in the Yellow Pages and recognize the familiar location immediately. • Plentiful parking at the nearby Albertsons, Cinima Complex and retail complex will draw volumes of customers. Oak Furniture Warehouse has first option pending on a lease option. This would be a three year lease for a 11,300 sq. ft. building at a cost of $3850.00 per month. This would be slightly larger than the two Spokane stores but would be ideal for the high volume seasons. DESCRIPTION OF MANAGEMENT Dean W. Spratt, Owner and General Manager of Oak Furniture Warehouse, will manage all aspects of the business. Dean’s background includes an education at the University of Idaho with a major in Electrical Engineering and a minor in business management, twelve years experience in managing projects and businesses and start-ups. He has worked for the last two years as a General Manager of the valley Oak Furniture Warehouse store and has acquired the following relevant experience: • Business and personnel management. • Marketing and promotional experience. • Wide base of distributor contacts. • Shipping and receiving experience.