Treasure Cove

Katherine Gilman
April 4, 2015
Katherine.Gilman@nichols.edu

Table of Contents
Executive Summary3
Mission3
Company Description..4
Opportunity Analysis..6
Market Research and Evaluation7
Marketing Plan8
Operations Plan9
Management Team..10
Timeline..10
Critical Risks and Assumptions..11
Financial Plans and Projections..11
Appendix. 13

Executive Summary
Treasure Cove is a consignment store for local artists to sell their work
located in Chatham, MA. It will thrive on the tourist industry in an area that
believes strongly in the arts. Each artist will be able to personalize their
work and give have access to the customers. The store will also have a
website for he artist to display their works and reach out to customers
outside the area.

Mission Statement
We strive to promote local art from a variety of
mediums to the public in an easily accessible format.

Company Description
Treasure Cove is a retail store containing works from various local
artists. It will be located in Chatham, MA in Cape Cod near the center of
town. Chatham is a very wealthy town that focuses on the arts. There are
many art stores that sell ocean related paintings and dcor pieces at extreme
prices. This will differ from the other stores because it will focus more on
customized household items that are usable rather than just paintings with
more realistic prices. Tourists love to bring home souvenirs from their trips
that they can actually use but at the same time can be seen as an art piece, or
given as a gift. Buyers are more likely to purchase things that are customized
rather than generic. Business will be stronger in the summer due to the large
number of tourists but business will continue to be run in the off season
through a website. The website will contain all of the artist works with the
option to personalize it if the artist chooses to do so. It will be run by the
social media team; they will have direct access to the artists in case any
changes need to be made. This website will be similar in concept to Etsy, a
peer to peer e-commerce website focusing on handmade goods, but on a
smaller, more personal scale. The website will also contain contact
information for the store and directions for any tourists who are looking to

stop by and look around. Artists who would like their pieces to be featured
in the store will pay a fee to rent the space that their work will be displayed
in along with 10% of their sales. They will have to leave their information
for the store to contact them when stock is running low or buyers would like
to inquire about personalized work. They will also have to create a schedule
for them to stop by the stop to drop off order. Since customers will be in the
area for about a week at a time artist will either have to be fast paced and
have it done before the customer leaves the area to go back home, or ship the
orders out to the customers when items are personalized.

Opportunity Analysis
Treasure Cove is going to be small and employ about 12 part time
workers during peak season. Chathams population changes drastically
between the summer and winter. In the winter the population is only about
6,625 people, while in the summer it ranges between 30,000 and 40,000 with
the people changing every week. These will be people who work in the
store; there will also be about 2 people who run the website and social
media. Artists would have to handle their own shipping for when they have
orders from the website, orders will automatically send to the artists when
orders from the website. At anytime necessary artist will be able to contact
the company to remove or add their work to the website.
This business is likely to succeed because of the strong art market in
Chatham and the well known wealth of the community. Also the
personalized art market online is rapidly growing. People would rather shop
on their couch than go out and buy it. And while they are on vacation they
are more likely to go out and spend money. Esty, a company with a similar
idea but on a much larger level, is soon to become New Yorks largest IPO.
This just proves that people are willing to buy handcrafted goods. The art
market is growing and now is the time to jump on the bandwagon.

Market Research and Evaluation

Cape Cod thrives on tourism every year and the numbers continue to
grow. In the past four years from 2009-2004 the numbers have gone from
444,506 to 570,175 people in the month of June. The art market is strong
especially in Chatham; there are currently over 10 art galleries just on Main
Street. Each gallery offers something different and every artist has his or her
own unique style.
The Artists themselves are looking for a place to display and sell their
art to the public. The Town of Barnstable took a survey for the entirety of
Cape Cods artists and here are a few of the result: 68.85% are looking for a
Space for the public to buy, see, and enjoy my work. 71.93% share their
work by retailing at a gallery or other store. There is a need of space for
artists to retail their work and by doing so in treasure cove they do not have
to handle each customer directly, but instead can have another job on the
side if they would choose to do so.

Marketing Plan
Due to the Cape Cods high level of tourism the best way to market
any business is through social media and pamphlets since that is how people
will best find any attraction. Cape Cod itself has a specific app for art
galleries and stores called ArtsApp Cape Cod, it is available in the Apple
store, Google play, and through the web. Pamphlets are available at most
hotels, any tourism store, and many restaurants. The store will also need a
standout sign to catch customers eyes for all of the tourists who wander
around the main strip in Chatham, many may come in just to browse but a
piece may catch their eye. The store will also have all of the basics such as
Twitter, Facebook, Instagram, and Yelp; with Yelp it will also be possible to
monitor the customer satisfaction in a non-direct way.

Operations Plan
The store will take inventory each time an artist brings in work with
the artist present, this way when products are sold the artist will have the
number of pieces that are left in stock. The Artist will not be paid until a
product is sold and what isnt sold after two months they must replace with a
different product. If a product is broken in the store the rule you break it
you buy it will be set in place whether it be a customer or employee, if it
was neither it was come from the store itself. The inventory will be
computerized in a POS system but also counted manually once a week to
make sure the numbers match. Each artist, when they join with the company,
will create an inventory number that they must stay over, it does not have to
be a certain product that they produce but their supply in a whole. When a
customer orders something through the website and the artist is notified it is
then up to them to get it to the customer in the time allotted. Once the
company starts to get complaints about an artists timeliness they artist will
get a verbal warning, two written warnings, then be asked to leave the
company for that season. Customers will have the option to ship products
from the store to their home and that distribution is under the stores care.

Management Team
Treasury Cove consists of one Officer, which is CEO of the
company. Under the CEO are the administrators. The administrators involve
three managers who oversee the entire thirteen members part-time members
of our companies staff who will work in our store and with the website.

Timeline

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Critical Risks and Assumptions

Due to the high number to art stores in the area the customers will
have many options to buy local art. Most places only selling paintings and
some have an even smaller market and only sell beach themed paintings.
Treasure Cove will cater to all tastes and mediums. Another risk that the
company will be taking is due to the location, the store will only run at full
capacity in the summer. This is the problem with most coastal towns, the
majority of stores only open between May and September. This is the reason
for the website, what ever customer base that is acquired during the summer
can continue to buy from the artists in the winter months.

Financial Plans
The start up costs for Treasure Cove will be around $80,000, this will
include starting the website, hiring managers and part-time employees,
renting the store on Main St. in Chatham and the buying of equipment. It
should take about ne year to pay off all of these loans and put the company
on its own two feet.

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605 East Main St #1, Chatham, MA 02633

http://www.capecodhouses.com/homes/MA/Chatham/02633/605_East_Main
_St/14521500811/index.html

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Katherine E Gilman
11 Courtney ln
Hope Valley, RI 02832
(401) 207-7774
Katherine.Gilman@Nichols.edu
Education
Chariho Regional High School
Graduated June 2013

Wood River Jct., RI

Chariho Career and Technical Center (Cosmetology)

Graduated June 2013

Wood River Jct., RI

Nichols College
Graduate in 2017

Dudley, Ma

Licenses

Cosmetology (Department of Health)

Motor Vehicle (State of Rhode Island)

Honors/Awards
Honor Roll 2009-2013
Student Council President 2012-2013
SkillsUSA (Esthetics) 2011-2013
People to People Student Ambassador 2011-2012
Work Experience
Foxwoods Resort Casino
Mashantucket, CT
April, 2012- Present
Showroom Usher
Provide excellent service consistent with the propertys core service standards and brand
attributes. Meet the demands of a fast-paced environment by using good judgment and
the ability to multi-tasking.
Mystic Pizza
Mystic, CT
August, 2012-2015
Hostess/ busser
Greet guests and patrons personally, offer appropriate seating arrangements.
Volunteer Experience
Turning Pointe
2009, 2010
Taking care of horses, helping with young children, cleaning
Mystic Lions association
Oct 2009, 2010, 2011

Ashaway, RI

Mystic, CT

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Works Cited
ArtsAppfortheCape&Islands."ArtsAppfortheCape&Islands.
ChathamChamberofCommerce,n.d.Web.22Apr.2015.
RealEstateAssociatesCapeCodHouses."RealEstateAssociatesCape
CodHouses.N.p.,n.d.Web.22Apr.2015.
TownOfBarnstableArtsSpaceFeasibilityStudy.Rep.DesginLab
Architects,n.d.PDF.

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