05 Mar Art Sales Custom Framing Business Plan

Introduction

Hart Fraeme Gallery houses a fine arts gallery as well as a full-service custom frame shop. The cornerstone of Hart Fraeme Gallery’s business is high-quality custom framing. Hart Fraeme Gallery is unique in the field because it offers custom framing within one day or 11 days, as opposed to the industry-standard 21 days. Hart Fraeme Gallery was established with the intention of providing the Triopolis area with innovative and trend-setting designs, as well as a high quality finished product at unbeatable speeds.

The Company

Hart Fraeme Gallery S-Corporation is managed by Hart Fraeme. Hart Fraeme is an experienced operator of custom frames shops and another art gallery. Hart Fraeme Gallery was born from the knowledge, experience, and contacts Mr. Fraeme has acquired over this period.

Presently, the company does not have a retail location, although plans are in place to acquire a location in the Uptown Mall by September of 2005. This location is attractive for the fact that there are not many frame shops within the immediate vicinity. It also has the same demographics as Hart Fraeme Gallery’s target client.

Products and Services

Hart Fraeme Gallery will be focusing its main focus on custom framing. This should generate around 75% of its monthly income, as mentioned previously. Although Hart Fraeme Gallery will offer artwork for sale, this will be primarily a service to its customers and not more than 25% of the monthly sales. However, artwork is essential to sell and model custom framing options. There will be over 500 different mouldings available and more than 1000 unique matboards. Hart Fraeme Gallery will also offer a wide range of mat designs, styles and display options.

Financial Outlook

Strong demand is evident for custom framing. In fact, 42% consumers indicate that they expect to make a purchase in the next 12 months. Industry analysis predicts a 4-6% increase in custom framing orders for 2006. Hart Fraeme Gallery believes it is able to enter the market and be successful. The financial projections of Hart Fraeme Gallery show a positive outlook. They expect to make healthy sustainable incomes and increase their gross margins over the next three decades.

1.1 Objectives

Hart Fraeme Gallery has 4 major goals. The first two of these goals are to establish a market presence, and the third & fourth are ongoing.

1. 1. In the Triopolis metropolitan region, open a retail space. Specifically, the company plans to enter into a lease agreement with the Uptown Mall, to lease a retail space of 1,500 – 2,500 square feet, with a stockroom / workshop area of at least 750 square feet.

1. 1. Marketing can help increase consumer awareness about both the company and product. This can be done by advertising in local newspapers (including Pioneer Press) for four weeks before the grand opening and for two weeks following it. Next, for three consecutive weeks, you can advertise more or less depending on the results. The company will also create a website that will detail its products and services. It will also include an online shopping cart to make it easy for customers to purchase.

1. 1. This industry is leading in project completion with an 11-day timeline for most orders and same day framing with selected material. This will require you to purchase the necessary framing tools and keep them on-site. It is also necessary to establish business relationships with leaders in the materials industry such as Roma Moulding and Mouldique, and to maintain weekly ordering and delivery schedules with such vendors.

1. The company will primarily focus on custom framing and emphasize high-end, cutting-edge design. The company will be monitoring changes in decor and design trends. The company will subscribe to several trade magazines including Picture Framing Magazine, Decoration, Art Business News.

1.

2 Mission

Hart Fraeme Gallery was started with the mission to provide the Triopolis with the most innovative, forward-thinking designs and an unmatched product quality.

Three things are the core of the company’s pride:

1. Eye-catching, unique frame designs, stemming from a strong knowledge and continuing study of both current and traditional decorating styles and design trends.
2. The highest quality craftsmanship and an ongoing commitment to excellence.
3. Dedication to work and constant drive to exceed the industry-standard three-week time frame for product completion.

1.3 Keys to Success

Hart Fraeme Gallery has four key elements that are essential to its success:

1. Quality Craftsmanship HTML8211: Because picture framing can be aesthetic, the product must be flawless.
2. Creativity and Innovation Customer expects unique products that are tailored to their needs.
3. Professional, Fast Service 11 days is an amazing change in pace for a business that has a three-week lead time. Same-day framing is also a demand in today’s society.
4. Embracing Technology – The computer has become an essential time-saver for all businesses, including art and framing, and computerized equipment is fast becoming a necessity for the modern framer.