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Transcript of BAGguettes
Profile The Product On Going Operations BAGguettes Operating Forecast The name BAGguettes alludes to the Filipino slang term “bagets,” meaning “cool,” which is appropriate as our bags are targeted towards the younger crowd. Also, the name BAGguettes is funny enough to make an impression, so people will remember it easily. Company Information Females from the age 16-30. The company plans to attract this market by creating designs that are feminine, trendy, and unique.
Environmentalists. The company will incorporate into their advertising the eco-friendly process of manufacturing the bags as well as the benefits of using BAGguettes in terms of protecting the environment.
Art aficionados who appreciate and support the works of local artists. The bags will be the handiwork of student artists from DLS-CSB. Using the bags will be a sign of spreading and exposing the talents of up and coming artists. Market Segmentation Strategies The company’s our products to be known as “the country's leading manufacturer of artistic eco-friendly bags” Positioning Strategy Operating Strategy Canvas tote bags will be sourced from MCG Marketing in different sizes – small, medium and large
Selestine Arts, to have the designs silk screened printed on the bags.
After receiving the bags from the printers, inspections will be made to make sure that there is nothing faulty with the printing. After the quality is inspected, the bags are folded and packaged individually. Production Medium Term Goals Long Term Goals BAGguettes will start with 5 bag print designs on a canvas tote bag in small, medium, & largeEach design will be unique, creative and eye-catching and shall be printed on a durable/quality canvas tote bag. Designs will be changed every 3 months. Business Plan Product Description Executive Summary Business
Operations 4 6 5 The Management Team 3 BAGuettes is a company that specializes in unique, eco-friendly totes. What makes these totes unique is that local artists are involved and use their talents to create and express their unique point of view. Expressing creativity and personality can be eco-friendly and help stimulate local artisans become global. BAGguettes will produce canvas bags with unique illustrations drawn by us.
BAGguettes also hopes to answer the call of others to go green and support local illustrators as well. The main office will be a 55 square meter space in the residence of Gica Vinas in Pasig City.
important company documents, files, and inventory will be housed there.
to save on costs for the business as it is near our suppliers and screen-printing servicesThe company chose to start the main store online to save on expenses as well as to reach out immediately to a network of possible customers from our contacts in...
www.Baguttes.tumblr.com Necessary Permits & Registrations 1. Securities and Exchange Commission
2. Department of Trade and Industry
3. Bureau Internal Revenue 1. Barangay Clearance
2. Business Permit
3. Register the company's books of accounts, point-of-sales (POS) machines and receipts
4. Registration of employees:
• Department of Labor and Employment (DOLE) • Philippine Health Insurance Corp. (PhilHealth) 5. Registration of Trademark Mission Statement BAGguettes is committed to creating affordable, unique, and well-made bags that express our individual artistic abilities and our support for a cleaner, plastic-free environment. We make it a point to create functional products that make wonderful fashion statements as well. Goals and Objectives to create and sell originally designed, canvas tote bags.
to create a product that is unique, affordable and eco-friendly.
to expose indie artists and showcase their talents through our eco-tote bag. Short Term Goals Build the brand and following and audiencePromote the importance of being eco-friendly Sell/promote products in bazaars such as the Shop @ The Fort Bazaar and Bloggers United Sell initial batch of tote bags Collaborate with indie artists to promote the brandSell merchandise through consignment shops such as Team Manila and ArtworkCreate more bag model designs Establish brick and mortar shopCreate tangible look books with models showcasing designsBranch out to other products like clothing and accessories. allml
members of the company
own of it 8 12.5% Management Structure Unique features of the product BAGguettes is proud to say that our bags are:
1. High quality
2. Creative and eye-catching
3. Our bags are eco-friendly
4. All our bags are copyrighted and can only be used by BAGguettes.
5. Limited designs
6. We can mail our bags to anywhere in the Metro Manila BAGguettes will utilize value pricing for the products. The bags are priced reasonably for the quality of the canvas bags, designs, printing and packaging. All of the bags will have a 100% profit margin of cost. Pricing Strategy Distribution Strategy 3 Distribution Channels
The online shop
Bazaars - e.i. Shop @ the Fort Bloggers United
Consignment stores - e.i. Team Manila & Artwork Marketing Vehicles Visual Promotion: Flyers, leaflets, Tarpaulins, Print Media (School’s Newspaper, Local Magazines)Taking part in bazaars Consigning with brands (Team Manila and Artwork)Networking Give discount coupons to food establishments that will give said coupon free to their customers. This discount coupon allows the customer to be informed of the existence of the brand as well as a 10% discount on their first purchase. Promoting the product The owners of the brand will use the product to present it to the target market. (schools and shopping districts)Broadcast brand through the internetSocial Media (Facebook, Tumblr) Sales Strategy To launch the product there will have an art exhibit showcasing the bags as well as the work of other local artists. Bags will be available for sale at the event and there will also be a design-your-own-bag booth, in which people can buy a tote bag and decorate their own bags with the materials (paint, beads, studs, ribbons, etc.) we have.
Other plans include, joining bazaars and art expos as well and this can help promote the brand to the people we meet. BAGguettes also plan on getting the attention of the public by asking local fashion brands to allow us to sell the products in their stores in exchange for paying a rental feel of 1,500 pesos a year and 50 pesos commission is given to the store per bag sold. Another strategy offered is to design bags for their brand as a collaboration. To launch the product there will have an art exhibit showcasing the bags as well as the work of other local artists. Bags will be available for sale at the event and there will also be a design-your-own-bag boothOther plans include, joining bazaars and art expos as well and this can help promote the brand to the people we meet. BAGguettes also plan on getting the attention of the public by asking local fashion brands to allow us to sell the products in their stores Sales Forecast We expect good sales in the month of:
March &April - summer
June - back to school
October - Halloween
December - Christmas BAGguettes will have a design team made up of specific member from the group. The prints and designs will go through a screening. The bag’s quality control will be checked before they place their order to the supplier. The quality and consistency of the print will be assessed before having the bags printed. Quality control checks will be made in the middle and after production before putting them into inventory.
Production of canvas tote bags and silkscreen printing will be subcontracted.Inventory and sales from distributing retailers will be monitored to identify trends and increase sales.
The e-store will be monitored at office hours. That includes the orders, site functions, updates on stocks to check we still have items on hand and online site payment systems.
Orders will be shipped within 24 hours daily with in Metro Manila. Total inventory will be monitored every Friday to keep track of our stocks. Scope of Operations The production of canvas tote bags and silkscreen printing will be subcontracted
As some of the group members are fashion designers that have extensive knowledge about fabrics and materials, and the construction of the bags, the quality of the bags will be excellent. This will help the management in purchasing the supplies.
Retailers will be chosen according to their reputations of distributing quality products and service, and if their target market is similar to that of BAGguettes’. Direct Sales Web
Sales Cost Controls company car will only be used when delivering stocks to the designated resellers.
will choose a courier that offers the most affordable delivery rates.
The main office will implement energy-saving practices to cut utility costs.
Each partner conducting a sale should always double check the accuracy of the information to prevent unnecessary corrections (e.g. re-printing invoices, voiding incorrect transactions, returned orders and lost shipments).
Production will be limited to 300 prints per month to regulate production cost Administrative and Financial Controls To facilitate orderly payments and systematized bookkeeping:
Check payments with an accompanying voucher are to be made when transacting with suppliers.
sales conducted at the stores are reported and checked every week, online sales are reported to the Finance Manager immediately.
Petty cash released to the concerned members at the start of each month must be accounted for by the end of the said month.
All reports are to be reviewed during the monthly partners meeting Legal Environment company acquires copyrights to the selected designs but credits will be given to the specific members of the design team Health, workplace and environmental regulations Paper products in business operations should be made out of recyclable materials. Proper Garbage disposal must be observed at all times.Hazardous activities such as smoking and drinking will not be tolerated within the workplace. Insurance Coverage Each member of the company must be covered by standard insurance policies, including but not limited to PhilHealth, business insurance, and SSS Inventory BAGguettes monitors the following items within its inventory:
Unprinted bags (raw materials; canvas bags that have yet to be printed on)Printed bags (finished product)RacksPackaging Consignments are provided one rack and the inventory good for one month (250 pcs min)
Inventory of each shop on and offline will be checked every week.
Inventory and Sales Reports will be made and released every week as well
Inventory is restocked when a design of a size has only 7 pcs left
raw materials will be stored at the head office
. Orders for re-prints will be sent 2 weeks prior to the peak season Suppliers Return of Investment (payback)- 5 months
Return on Investment - 96%