BUSINESS PLAN

FOR

UNIQUE BEAD HOUSE

BEAD JEWELRY MAKERS
MAKERS OF BEADS, PEARLS, GEMSTONE JEWELRIES AND
BEADED HOUSEHOLD ITEMS
1.1 EXECUTIVE SUMMARY

Name and ownership of enterprise:

The proposed business enterprise, by Mrs. Obianika Victoria

1.2 Location

Unique Bead House is located at No. 10 New Market Road,

Onitsha, Anambra State.

1.3 Target marking

Our target market consists of females and males within the

Onitsha, Awka, Nnnewi, Asaba, Agbor and Ihiala.

1.4 Key Competitors

At present there are no established competitors. However, private

individuals who practice our line of trade for ensure exist to a large

extent.

1.5 Marketing Plan

To successfully market our projects, we intend to employ the

following means:

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a. Media advertising

b. Raffle draws for customers.

c. Road shows, etc

1.6 Operational Features

- Bead Jewelry design and fashion

- Repair of head Jewelry and household items.

- Fabrication of coral beads for chiefs, kings, and others.

- Consultations and training.

1.7 Management Team

The key members of Unique Beads House management team are:

1. Professional bead designers with at least B.Sc in fashion

designing.

2. Professional and semi-skilled bead craftsmen.

3. Regional manager with at least a Bachelor’s Degree in

Business management

4. Company Accountant with a Bachelor’s Degree in

Accountancy or Banking and Finance etc.

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1.8 Projected Financial Performance:

Our suspected set-up capital for the business and expected

return can be briefly summarized as follows

Start-up capital N 3,030,000

Expected Production cost for 1st year N1,483,950
Expected return in cost for 1st year N3,000,000
Expected return in cost for 2nd year N4,900,000
Expected return in cost for 3rd year N7,800,000

VISION STATEMENT

We seek to be an enterprise in Nigerian states and beyond,

transforming the world of jewelry and household utility.

MISSION STATEMENT

Unique Bead House exists in Nigeria to extend the scope of jewelry

and household utility through creatively designed, fabricated and

marketed bead jewelries and household items. Our target

customers are adult females and males.

OWNERSHIP

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Unique Bead House is a sole proprietorship owned and run by Mrs.

Obianika Victoria.

LEGAL STATUS

Unique Bead House is a registered member of the Corporate Affairs

Commission (CAC).

LOCATION AND FACILITIES

Unique Bead House is located at No. 10 New Market Road, Onitsha,

Anambra State.We will also have sales outlets in Asaba and Awka.

The location of the enterprise gives adequate access to the source of

raw materials. We have adequate facilities and skilled personnel for

design, production, packaging and delivery of our products.

PRODUCTS/SERVICES

Unique Bead House offers the following products and services to

our customers:

PRODUCT FABRICATION AND REPAIRS:

 Earring and necklace design.

 Bracelets, rings and other designs.

 Coral beads and traditional beads.

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  Household utility items such as flower pots and vases using

beads.

 Jewelry repair for jewelries of all kinds.

 Personalised Jewelry for customers who make such demands.

These demands could be in the case of mass production for

weddings and other ceremonies.

SALES AND DELIVERY:

 Sale of bead jewelry and household utility items through our

various sales outlets.

 Door step delivery for large scale purchases made at Unique

Bead House.

CONSULTATION AND TRAINING:

 We also offer advice to customers on their choice of gifts and

possible ways of packaging of such gifts.

 Organised training sessions for customers who desire to learn

the art of bead jewelry fabrication.

PRODUCTION PROCESS:

Below is a summary of our production process:

Jewelry Supplies/Tools:
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Tools required for making pearl necklaces:

 Wire, fishing line stringing wire and necklaces.

 Pearls, beads and gemstones.

 Metal clasps (for Bracelets).

 Fine chain (for Bracelets).

 Pliers of all kinds (Round Nose, crimping pliers, chain nose

pliers, bent chain nose pliers, nylon jaw pliers, etc.)

 Cutter of different types (Flush cutter, Soft Flex Cutter, etc).

 Acrylic jigs

 Metal pegs

 Anvils

 Cup burs

 Hooks, etc

 Ruler/ measuring tape.

Skills Required:

 Use of a Jig to make a wire component.

 Ability to use crimping pliers to crimp a crimp bead. 

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  Ability to combine bead stringing wire, beads, and a clasp into

a necklace and bracelet.

 Ability to string beads on Soft Flex.

INDUSTRY TREND

Jewelries form a very large part of the fashion industry. Fashion is

something that evolves; it changes and grows in a lot of different

ways. The fashion industry network is without a doubt one of the

largest growing sector in the world. This is what influences the

clothes and costumes of people all over the world be it in real life.

We therefore believe that our opportunities are limitless.

BUSINESS STRATEGY

Our strategy is to be a reliable source of high quality and affordable

items of bead jewelry and beaded household utility items.

KEY SUCCESS FACTORS:

The major factors which predispose Unique Bead House to success

are:

 the Fashion industry which our enterprise falls under

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MARKET

Unique Bead House has a very wide market as our products and

services are for use by both males and females, especially within

Delta State and beyond. Though the fashion industry, of which our

enterprise is a part, is one that experiences continuous fluctuations

in demand and desires of our customers, we believe that our

products possess a unique nature that can stand the changes in

tastes of our customers. Considering the fact that our products are

a combination of the nominal fashion jewelleries and beads of all

kinds, we would sure be in business for quite a very long period of

time.

Delta State which is our central sales point has a rich cultural

heritage and serves as a ready market for the coral beads which we

at Unique Bead House produce.

Unique Bead House is synonymous with very high quality products

at quite affordable prices.

KEY COMPETITORS

In the locality where we propose for sitting our establishments,

there are no known bead makers. Few private individuals are

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equipped with the know-how and financial capacity to carry out

bead making on a family scale. These individuals when compared to

the increasing demand for beaded jewelries are quite few in

number.

DEMAND AND SUPPLY ANALYSIS

To successfully analyze this we carried out a survey where potential

customers within the locality filled us in by word of mouth and

largely through questionnaires. The survey concentrated mostly of

people between ages 18-60 (females) and (20-70) males. We believe

we have an edge over the private individuals because of the

following reasons:

1. Accountability

2. Product guarantee

3. Our value added services

4. Speed and accuracy of production

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ESTIMATED DEMAND SUPPLY GAP

Adjustments Demand-Supply gap

Estimated average annual 200,000

demand

Less 25% due to existing 50,000

individuals in same business line

150,000

Less 20% due to expansion of 30,000

shops and establishment of now

ones
120,000

Less 5% estate error 6,000

Estimated demand supply gap 114,000

Installed capacity of shop 20,000

MARKETING AND SALES PLAN

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We plan to make customers fully aware of the quality of our

products primarily through:

1. Media advertising -fliers, bill boards, etc

2. Raffle draws at Onitsha, Awka, and Asaba.

3. Bulk sms/ messaging to already existing customers on the

special days, e.g. birthday, anniversaries, festive marketing

positioning.

We intend to be known by our customers for the following

qualities:

- Innovation and creativity

- Reliability and speedy delivery of services

- Customers friendliness and respect, among others

ORGANIZATION AND MANAGEMENT CHART

Proprietor 12
 Professional bead Company Secretary Branch manager
designees

Bead Makers Customer care operators

Bead Makers Assistances

Gate man Security personnel Cleaners

VALUES AND NORMS OF THE COMPANY:

As part of our operations, we of Unique Bead…..ensure that

adherence to policies and norms. Our workers are therefore known

for their:

- Punctuality

- Competence

- Academic achievements

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 - Love for creativity and beauty and nothing less than that

The possible fluctuation in the needs of the customer is the

major risk of any business in the fashion industry, view, se our

establishment.

SWOT ANALYSIS

Strengths

1) Our competent and capable staff

2) Our customer friendly nature

3) Sufficient technology and null to handle the potential

demand.

Weaknesses

1. Our lack of sufficient sales outlets

2. Lack of adequate funds to see the project through the various

stages of development

Opportunities

1. The rich cultural heritage of the people assures us of an open

market for costal beads which make up 50% of our products

2. Export potentials.

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Threats

1. The exiting punctuating nature of the fashion industry.

FINANCIAL PLAN

Below is a financial plan for Unique Bead makers.

Equipment, machinery and other Requirements for the business

S/N DETAIL PRICE

1 Beads N200,000
2 Tools N150,000
3 Chains lines N250,000
4 Laptop Computers N230,000
5 Delivery Van N 900,000
6 Rent N 500,000
Grant Total 2,230,000

Working Capital prosecution for a Hypothetical business:

WORKING CAPITAL Year 0 N Year 1 Year 2 N Year 3 N

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 N
Purchase of materials 383,000 390,000 60,000 700,000
Salaries and wages 400,000 400,000 405,000 450,000
Advertising 200,000 200,000 1800,00 1900,000
0
Utilities and others 70,000 80,000 75,000 100,000
Working capital 800,000 800,000 890,000 920,000

Total start-up capital required in the hypothetical bead making business

S/N Amount N
1 Machinery, Equipment others 2,230,000
2 Working capital requirement 800,000
Total 3,030,000

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