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Objective
To start a Business Venture in Custom Designed Home Furniture with in-house
designing, building and delivering capabilities that fits the customer's space,
taste, and budget and style preference, from top to bottom in the location of HSR
Layout.
Opportunity
Producing and selling furniture is a 25-50 Lakh industry in Bangalore. The focus of
the industry is on the affluent customer who can spend upwards to Rs.10, 000/- on
furniture purchases. In HSR, there are a total 14 furniture stores that are competing
for these customers with deep pockets. The customers who cannot afford the
high prices are left with a poor selection of inferior products.
In the HSR Layout Area, we have around approximately 43,000 2-3 BHK
homes with modest incomes that do not have a furniture store to cater to their needs
for Well-designed Affordable quality furniture. This income demographic has
grown tremendously over the past five years but has not been responded to by the
area furniture stores.
Target customers with modest incomes is Good business opportunity. They are
expected to make up a good share of the metro population by 2020--making them the
fastest-growing segment of the city's housing market.
Solution
The Home Carpenter
A Furniture Design Store
The Home Carpenter will offer customized, ready-to-finish furniture that's handmade
and surprisingly affordable. We offer:
Truly Custom Furniture:
A furniture piece that is crafted for the customer. We'll customize any piece or
create a whole new piece from a customer's rough sketch.
Handmade from Quality Pine:
Every piece is made by a professional craftsman from the finest pine available.
Every piece of pine is checked for grain and texture before it's used.
Heirloom Quality Furniture:
The furniture is made to last for generations. It's hand crafted, so each piece is
unique.
Dcor and Design Services:
Making the design process easier by the help of our experienced designers who
are on hand to answer simple questions you describe your place, your taste, and
your budget; then the decorators put together design proposals, renderings, and
product suggestions.
1.1 Mission
To make sure that the customer gets what he/she wants, furniture (one piece or a
whole house full) that fits the customer's space, taste, and budget and style
preference, from top to bottom!
1.6 Facilities
The Home Carpenter Set up will include
1. Office Area
2. Work Shop
3. Display Area
4. Utility Area
1.7 Stages of Venture
Phase I: (Present to 1 years time)
1. Wooden Furniture
Designing
Building
Delivering
2. Furniture Dcor Solutions
3. Single Location (within HSR Layout).
Phase II: (2 Years Time)
1. High-End Luxury Dcor Solutions
2. Turn-Key Projects with Residential Projects for Kitchen, Bedroom and Living Room
Dcor Solutions
3. Soft Furnishing (Upholstery, Covers, Curtains etc.)
4. 3 Locations (within HSR Layout)
Products and Services Summary
Products
Product Offerings by Area of Utility
Starting High-End
Utility Area Price Price
Living Area
1. Centre Table 5,000.00 15,000.00
2. Corner Table 3,000.00 7,000.00
3. Sofa Sets 20,000.00 65,000.00
4. Suez Lounge 15,000.00 35,000.00
5. Dewan Sets 4,000.00 14,000.00
6. Dcor Table 2,000.00 6,000.00
7. TV Wall Units 35,000.00 75,000.00
8. Book Shelves 2,000.00 6,000.00
9. Shoe Shelves 2,000.00 5,000.00
Bed Room
1. Beds 20,000.00 65,000.00
2. Chest of Drawers 5,000.00 25,000.00
3. Cupboards 30,000.00 65,000.00
4. Wardrobes 65,000.00 2,50,000.00
5. Side Tables 2,000.00 5,000.00
6. Bed-Side Utility Units 2,000.00 4,000.00
Kitchen
1. Crockery Cupboards 15,000.00 30,000.00
2. Shelves and Cabinets 20,000.00 85,000.00
3. Utensil Drawers 10,000.00 25,000.00
4. Tables 3,000.00 4,500.00
5. Stands 1,500.00 4,000.00
Garden
1. Chairs 1,500.00 3,000.00
2. Sun-Porch Sofas 6,000.00 20,000.00
3. Tea Tables 3,000.00 6,000.00
4. News Paper/ Magazine
Stands 500.00 1,000.00
Services
The Home Carpenter Store, would have an In-house Design and Dcor Expert
to guide with the following
Competitor Analysis
No'
Competitors
s
High End Furniture
Boutiques
(with no on-site
Manufacturing) 3
Small Manufacturing Set-
ups (with
no Designing Capabilities) 4
Residential
type No's
1 BHK 14,673
2BHK 20,872
3BHK 10,000
4 BHK 4,523
Total 50,068
Income Wise Break up
Summary of Requirements
Start-up Requirements
Items Particulars
Premises 200*450 Sq. ft. Area
Wood, Paints , nuts bolds ,
Raw materials Adhesives and other
accessories
Cutters , joiners, saws ,
Equipment and Tools
drills , polishers ,tapes
Office Items office Furniture, Stationary
Staff 10-11 Nos
Transport Trucks 2 Nos
Cost Summary
Start-up Costs
Particulars Amount
Legal 5,000.00
Stationery etc. 4,000.00
Insurance 12,000.00
Lease
3,00,000.00
Equipment and Tools 80,000.00
TOTAL START-UP Costs
4,01,000.00
Submitted By
Manjushree Gupta
PNR no. : 16020848004
Semester 2, Executive MBA
2016-19
SIBM, Bengaluru