Final

Project

[HAND MADE ART PIECES]

Submitted to: Amjad Hussain
Submitted by:





Date of submission:
28
th
, January, 2014



UmamaManzoor L1F11MBAM2107
Mahvish Imran L1F11MBAM2052
Sidra Shaukat L1F11MBAM2135
FaizaTanveer L1F11MBAM2119






Acknowledgments
By starting with the name of Allah Almighty who is most beneficial and merciful, First of all I
would like to say thanks to ALLAH who made this project successful at each step and showed
his blessing till the final stage of this project.
It is always challenging to perform the tasks like this which is assigned by our respectedAmjad
Hussain. These types of tasks and activities enhance the skills and abilities of us and we can get
the sufficient knowledge of Entrepreneurship that will help us in the future in our
professional/practical field. We would like to express our gratitude towards our Amjad Hussain
for giving us the opportunity to apply these Entrepreneurship concepts in opening new business
and also in the real corporate world which also helped us in completion of our project.















DEDICATION

Dedicated to our Loving Parents, Brothers,
respected teachers and Supporting Friends
who always helped out
I n times of woe and Distress
&
Taught us to
follow the Path of Truth,
J ustice, Honesty and Sincerity.









Executive Summary

Few months back, two sisters FaizaTanveer and Khadija Tanveer when entered Kasre-e-
Bahbood, have never thought that one day they will become one of the finest ArtificialJeweler
Makers and be able to develop a supply chain of a unique and popular design of a wide range of
product in a short span of time. They both worked together with a mission of developing
companys own brand, identity and to retain competitive edge. The production ranges a variety
of items keeping the need and fashion of the day e.g. jewelry, clutches, Pins, Brooches, Pendent
etc.
Now FLAMENCO ART STUDIO started working for the further expansion and promotion of
this business. FLAMENCOis to be based on four main departments, led by respective line
managers, Marketing, Supply chain, Production and Finances. Initial budget of our project is
10,000 each while their long term plan is to open outlets shops. Thecriteria for the location of the
outlets are to attract the major users/consumers of the jewelry i.e. Woman and young girls. Due
to rapid and uncontrolled hike in price of the gold at global level, it has been felt at all sections of
the society to move to some alternate of the real gold products. Artificialjewelry of other low
cost metals has become popular and its demand is also increasing day by day. Especially in
major cities, artificialjewelry has been replaced relatively at a higher pace in view of rapid living,
cultural values and security reasons. Regarding marketing, it is decided to share a part of the
sales outlets at the initial stage with some of the leading business networks i.e. MODEL, HKB
and PEARL Co.Some outlets are to run at their own, while use of FACE BOOK and other
electronics Ads facilities made effective for the smooth marketing profile and future business
targets.

Contents
Acknowledgments ......................................................................................................................................... 3
DEDICATION .................................................................................................................................................. 4
Executive Summary ....................................................................................................................................... 5
Feasibility Analysis ........................................................................................................................................ 9
Product Analysis ........................................................................................................................................ 9
Target Market Feasibility .......................................................................................................................... 9
Organizational Feasibility ........................................................................................................................ 10
Financial Feasibility ................................................................................................................................. 10
The Company .............................................................................................................................................. 11
Mission ........................................................................................................................................................ 11
Flamenco is committed to creating the finest handmade jewelry available.We execute your
imagination by providing you with your desired customized handmade jewelry. ............................. 11
Vision ........................................................................................................................................................... 11
Objective ..................................................................................................................................................... 11
Company Ownership ................................................................................................................................... 12
We are four partner of a business and we equally contribute 10,000 of each member ....................... 12
Start-up Summary ....................................................................................................................................... 12
Products Range ........................................................................................................................................... 13
Target Consumer ......................................................................................................................................... 13
Galleries .......................................................................................................................................... 13
Customers ....................................................................................................................................... 14
Marketing plan ............................................................................................................................................ 14
Product: ................................................................................................................................................... 14
Place: ....................................................................................................................................................... 14
Price: ....................................................................................................................................................... 14
Promotion: .............................................................................................................................................. 14
SWOT Analysis............................................................................................................................................. 15
Strengths ................................................................................................................................................. 15
Weaknesses ............................................................................................................................................ 15
Opportunities .......................................................................................................................................... 15
Threats .................................................................................................................................................... 15
COMPETION ................................................................................................................................................ 16
Competitors ................................................................................................................................................ 16
Marketing objectives & goals...................................................................................................................... 16
The Competitive Profile Matrix (CPM) ........................................................................................................ 17
Porter five forces model ............................................................................................................................. 18
Low cost leadership ................................................................................................................................ 18
Threat of new entrants ........................................................................................................................... 18
Bargaining power of buyers .................................................................................................................... 18
Bargaining power of suppliers ................................................................................................................ 18
Threat of substitute products ................................................................................................................. 18
Marketing strategy ...................................................................................................................................... 18
Action programs ...................................................................................................................................... 18
Budgets & controls .................................................................................................................................. 19
Competitive Edge ........................................................................................................................................ 19
Business Model ........................................................................................................................................... 19
Market Needs.............................................................................................................................................. 21
Selection .......................................................................................................................................... 21
Accessibility ..................................................................................................................................... 21
Customer service ............................................................................................................................ 21
Competitive pricing ......................................................................................................................... 22
Identification of Costs ................................................................................................................................. 22
Variable Costs ............................................................................................................................................. 22
Fixed Costs .................................................................................................................................................. 22
Market Demand .......................................................................................................................................... 22
Nature of demand curve ............................................................................................................................. 23
The Market Structure .................................................................................................................................. 23
Reasons for Monopolistic/Imperfect Competition in Jewelry Market ................................................... 23
A fairly large number of sellers ........................................................................................................... 23
Differentiation in products ................................................................................................................. 23
Advertisement..................................................................................................................................... 24
Another very important characteristic of the monopolistic competition is that each firm tries to
create difference in its product from the other by advertising through Art galleries, websites,
flayers, banners and through attractive packing, etc When it succeeds in its object, the firm
occupies almost the position of a monopolist. It is, thus, in a position to raise-the price of the
product without losing its customers. ................................................................................................ 24
Freedom of entry and exit of firms ..................................................................................................... 24
Non-price competition ........................................................................................................................ 24
Practicality concept ..................................................................................................................................... 24
Cost benefit analysis ................................................................................................................................... 25
MarketComparison ..................................................................................................................................... 25
Future Forecast ........................................................................................................................................... 25
Conclusion ................................................................................................................................................... 27
Appendixes .................................................................................................................................................. 28
Working ....................................................................................................................................................... 29
Start-up Summary ................................................................................................................................... 29
Raw material: .......................................................................................................................................... 30
Floor plan .................................................................................................................................................... 31
Design .......................................................................................................................................................... 32
Logo for our business .................................................................................................................................. 37








Feasibility Analysis
Feasibility analysis is the process of determining if a business idea is viable or not. Its a way of
checking whether your business can succeed in the long run and the phases through your new
business have to pass.
Product Analysis
We have chosen to produce handmade jewelry. We have seen the market trends these days and
preference of customers towards handmade jewelry. Nowa daysgold jewelry is not suitable to
wear because of thefts and snatching and gold prices are rising with each passing day so it is very
difficult for a common person to buy it. With such fears they are just kept inside of bank lockers
to keep them safe that is the main reason we found this gap in the market and we come up with
an idea of handmade jewelry. We are not offering only handmade jewelry but imitated jewelry as
well. Girls usually want something to wear matching with their dresses thats why we are making
jewelry of vibrant colors that can be carried with both looks whether eastern or western look
mostly we are focusing on traditional designs of jewelry. Girls were not wearing jewelry owing
to its huge size and some of them are metal allergic we have solved this issue we are using fancy
stuff along with beads, laces, ribbons and fancy thread with plastic supporting. Such trends are in
market moreover we have asked few customers in the market who regularly buy jewelry that
what would they like to wear heavy jewelry or something that looks like the heavy jewelry but
actually its way lighter than the heavy jewelry so the response was in our favor they want
something that is trendy and up to date. We have also seen the demand of our product because if
there isnt any demand for the product then all our efforts will go to vain because when a
customer buy jewelry they arent buying jewelry in fact they are buying a whole experience of
the entire range of the designer behind it.
Target Market Feasibility
Industry for imitated and handmade jewelry is growing so rapidly over the last year. Gold is
getting out of range these days people are shifting towards substitutes. Every girl wants to look
versatile in its own way. Our target audience will be girls 12 to 22 years of age even working
class women can also wear our collection once we will be in market we will also start a
collection for girls of 5-9 years of age.
Organizational Feasibility
We have designed our jewelry on our own and they are quite unique in their own way. Currently
at this stage of idea it is decided that all the partners will help in managing the resources that are
needed by us. We have talked with various people we will sell our products to different malls
preliminary we are going to sell our products to H.K.B, MODEL CO, and REAL
BEAUTYPEARL CO side by side we will also sell them on stalls at the exhibition we are also
going to provide the facility to customers that they can demand the jewelry on order to facilitate
them in matching with their clothes we have also developed a page on social network to
introduce our products to our customers they can also call or leave their queries on whtsapp.
Financial Feasibility
This business is financially feasible because capital is less required to start up business at this
small scale initially we are putting around 7 thousand to start up. Material and supporting stuff
such as ribbons fancy beads will e bought only in huge quantity once they are bought it can be
used to produce them in a sufficientamount. It will cover its cost even when few units are sold to
above mentioned retailers. But they key to success in this field is that know the preferences of
your targeted audience make up things that meets their requirements try to fulfill the gaps in your
field competition is so intense in this industry because there are lots of other people doing this
same business because of its low startup cost to keep in this industry we will come up with
unique stuff to keep alive the spirit of competition because if you are meeting the demands of
your customers they will be overwhelmed. By looking at each and every perspective we found
our self-suitable for the proposed business and there are chances of growth as well.

From this analysis we have come to know that this business is feasible and now the details of the
business is as follow


The Company
Two sisters FaizaTanveer and Khadija Tanveer when entered Kasre-e-Bahbood, have never
thought that one day they will become one of the finest ArtificialJeweler Makers. Now both of
them created Flamenco Art Studio which is located in Mughalpura Lahore having a large range
of artificial handmade items. Flamenco Jewelry has a wide range of jewelry offerings, from
pendants, to pins, to earnings.The business is totallybased on home base concept. Flamenco sells
the product direct through his website as well as through selected Suppliers, galleries and art
shows.
Mission
Flamenco is committed to creating the finest handmade jewelry available.We execute your
imagination by providing you with your desired customized handmade jewelry.

Vision
Flamenco vision is to make innovative art pieces in handmade jewelry. Our services will exceed
the expectations of our customers
Objective
The objectives for the first five years of operation include:

To create a jewelry manufacturing company whose primary goal is to exceed customer's
expectations
The utilization of Contemporary's designs in at least 20 different galleries
To increase the sale by 7% every year
To increase the number of designs offered by 8% per year
To develop a profitable/sustainable home-based company


Company Ownership
Flamenco is a co-partnership, owned by faiza, sidra, umama and shakeel. The advantage of
corporation generally it is easy to establish and start-up costs is low.

Flamenco will be completely financed by 4 partners named

FaizaTanveer (Manufacturing Manager)
UmamaManzoor (designer)
Sidra shaukat (Marketing Manager)
Mahvish Imran (Fiance Manager)
We are four partner of a business and we equally contribute 10,000 of each member
Start-up Summary
Flamenco start-up costs will include the following equipment for the home-based business:

Legal fees Rs.1,000
Website creation fees Rs.2,500
Home office furniture including desk, file cabinet, chairs Rs.1,000
Computer including printer, CD-RW Rs.7,000
DSL hookup Rs.2,000
Extra land phone line Rs.1,500
Cutting tools Rs.45,00
Raw materials (Ribbons, Laces, Cotton Balls,
Artificial Flowers, Beads, and Fancy Thread
with Plastic Supporting.) Rs.11,400
Anodizing equipment Rs.2,000
Total Rs.32, 900


Products Range
.All of the products are designed and made by UmamaManzoor and FiazaTanveer respectively.
The product range given for our product is as follow:

Bangles
Rings
Earrings
Brooches
Necklaces
Mehndi accessories
Kolhapuris
Hair accessories
Anklet
Target Consumer
Flamenco will be focusing on two distinct groups of customers. One is the end consumer, as we
all know industry for imitated and handmade jewelry is growing so rapidly over the last year.
Gold is getting out of range these days people are shifting towards substitutes. Every girl wants
to look versatile in its own way. Our target audience will be girls 12 to 22 years of age even
working class women can also wear our collection once we will be in market we will also start a
collection for girls of 5-9 years of age. The other is galleries, to be used as a distribution channel.
The end consumer will be interacting with Flamenco via his website as well as through personal
contact at exhibitions/shows. The galleries (museum shops, jewelry stores) will also be met
through the exhibitions and shows.
Galleries These buyers are purchasing jewelry wholesale in quantity and reselling it to the
public. Some of the galleries are private galleries, some are artisan jewelry shops, some are
museum stores, like the pearl continental exhibition and Alhamra Art Store. The margins are not
as good compared to sales to individuals and there is also the expense of setting up relationships
with the galleries to sell the art pieces, but galleries move a large quantity of work. The galleries
and stores that typically are interested in Contemporary's work are more upscale and modern.
They appeal to a crowd that favors progressive or industrial design.

Customers These buyers are familiar with Flamenco Jewelry either from stumbling across the
website. The individual would then view the different available pieces on the website and place
the order via the Web, phone, fax, or mail. The margins for customer sales are greater because
there is not a distribution layer involved; it is direct from Flamenco to the end consumer. The
individuals that are typically attracted to this type of art work are generally from cities and are
fairly progressive. The reason for this is that the jewelry, while not flashy, is not all that
conservative looking. They are intricate pieces, typically using organic shapes and industrial
design. This is the reason that more progressive people will appreciate the Flamenco pieces.
Marketing plan
Product: Flamenco Art Studio is a handmade business of all the handmade items that
includes wide range of handmade accessories for women, handmade bangles. Rings,
earrings,Brooches, Necklaces, Mehndi accessories, Kolhapuris, Hair accessories and
Ankletetc
Place: Right now we have launched our handmade products in Lahore, but in future we
will launch our product 3 big cities Karachi, Sialkot and Islamabad. We will also make
our handmade products available outside the Pakistan through online sale.

Price: We will adopt penetration marketing strategy for our handmade product range.
The prices for each product will vary according to the design adapted.

Promotion: We will promote our handmade business through website, radio and
through print media (pamphlet, brochures). We already have a facebook page with more
than 700 likes and promoting our handmade products through
flmancoartstudio/facebook.com

SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the company,
and describes the opportunities and threats facing Flamenco Art Co.
Strengths
Unique designs and construction methods.
Strong relationships with suppliers as well as galleries.
The flexibility to provide custom pieces.
A comprehensive distribution network from a robust website and a network of galleries.
Weaknesses
A large portion of the target market that is unaware of Flamenco Art Co.
Limited time and budget to market the company to the segmented target population.
The struggle to constantly create new designs.
The possible inability to meet demand due to the small size of the company.
Not developed brand

Opportunities
A growing market that, to a large degree, is unaware of Flamenco Art Co.
The possibility to grow the size of the company so Umama is spending his time creating and
allowing others to deal with the administrative details.
The injection of fresh, creative designs in a somewhat stagnant industry.
Increasing brand recognition by development of social network
Threats
A decrease of availability of raw materials due to demand from other industries.
Artistic copycats that enter the market and mimic Umamas designs.
A slowdown of the economy that will have a reduction on individual's discretionary income.


COMPETION
Competition for Flamenco takes the following forms:

Artists creating designs that are then manufactured on a large scale and distributed nationally.
Companies that has their own designers in-house. In this case everything is done in-house,
design, marketing and wholesaling.
Artists such as UmamaManzoor who design and make all of the pieces themselves, and then
do the wholesaling or retailing themselves.
Competitors

Haroons, Milli, Rangjha are the direct competitors of our business.


Marketing objectives & goals
The goals and objectives of flamenco include:
To establish a brand name of Flamenco Art Studio.
To give awareness about handmade accessories and decorative to the people.
To create a jewelry manufacturing company whose primary goal is to exceed customer's
expectations
To increase the number of designs to achieve high attention of the customers.
To provide opportunity for women as a source of earning at home.
To develop a profitable/sustainable home based company.
To contribute in the changing trends towards handmade jewelry.


The Competitive Profile Matrix (CPM)
The Competitive Profile Matrix (CPM) identifies major competitors and its particular strengths
and weaknesses. In CPM include critical success factors both internal and external issue. In CPM
rating refers to strengths and weakness. In CPM rating is 1 to 4, where 4 represent is major
strength, 3 represent is minor strength, 2 represent is minor weakness, and 1 represent is major
weakness. CPM rating and analysis provides important internal strategic information.
Competitive Profile Matrix (CPM)



Critical Success
Factors
Weights Rating Score Rating Score Rating Score
Creativeness 0.15 4 0.60 4 0.60 1 0.60
Product Quality

0.10 4 0.4 3 0.30 2 0.20
Unique Design 0.15 3 0.45 3 0.45 2 0.30
Customer Service 0.10 3 0.30 2 0.20 1 0.10
Skills 0.10 3 0.30 3 0.30 1 0.10
Product Varity 0.10 3 0.30 3 0.30 2 0.20
Consumer Demands 0.15 3 0.45 3 0.45 2 0.90
Management 0.07 3 0.21 3 0.49 2 0.14
Total

1.00 3.01 3.09 2.54


Porter five forces model
Low cost leadership
We are gaining this advantage by using the scrap and transforming it into useful material once
scrap which includes wires ribbons beeds and fancy material is left out of the order that we are
done with rather than throwing it away we make jewelry out of it and sell it to the people who
like those designs thats how we are gaining the advantage of low cost leadership.
Threat of new entrants
Threat of new entrants is relatively high as china is also making handmade jewelry and they are
trying to penetrate this market by providing those designs Chinese designs can be easily imitated
but our designs are relatively difficult to imitate. There is also difference in our quality
Plus this business doesnt require much cash to start up so entry barriers are not high.
Bargaining power of buyers
Bargaining power is low as fleminco isnt a recognized brand yet its in it development stages
much people arent aware of this thats why we believe bargaining power is low.
Bargaining power of suppliers
Bargaining power of suppliers is relatively low as we have three suppliers and can get more
suppliers if required, who can provide us with raw material.
Threat of substitute products
Threat of substitute product is low as we consider gold and we are replacing it so threat is low.

Marketing strategy
We will adopt penetration marketing strategy for our handmade product range.
Action programs
As we are at the beginning stage of our business so we have adopted penetration marketing
strategy to grab the attention of customers & we will control our cost for the implementation of
this strategy.
As at this stage we are making our handmade products by our self so it will helpful in controlling
cost but in future we will launch it on a large scale so we will hire more labor to meet the
requirement hence, we will increase the prices according to the demand of our handmade
products.

Budgets & controls
We have a budget of approximately Rs 40,000. As we are at the initial stage of our business but
in future we will increase it according to the increase in sales and revenues. We will control our
cost as we are not hiring any individual to market our product we will promote our products by
ourselves at this initial stage. As we will use radio, brochures, pamphlets &facebook page etc for
the marketing that are not very expensive means of advertisement.
Competitive Edge

Flamenco competitive edge is fairly simple. It is based on creative, unusual designs. While this
strategy can be replicated, it is not easy. Creative, unusual designs require skills. While not
everyone has artistic skill, Umama is certainly not the only one graced with this skill. Regardless,
Umama is very skilled in what she does, and every piece that she manufactures incorporates an
element of creative, unusual, eye catching design that stands out from most jewelry.
Business Model
Sometimes the process which company performs becomes very important not only for company
but also for the customers because customers really want to know how the product came into
being. So what we did is, we selected 6 step business model, which starts from getting raw
material from supplier and ends up at product in hand of customers. The detail of the business
model is as follow:


Product in hand of customers


In the first step of getting raw material from suppliers, we will get our raw material from Shalmi
market and 3 suppliers in the market are Ahmad laces center, Abu Bakar mote center and Arooj
plastics and glues. We almost get all our raw material from them including ribbons, laces, cotton
balls, artificial flowers, beads, and fancy thread with plastic supporting. Then after this step we
will get design from our design department, being headed by UmamaManzoor, who is our
Getting raw material from suppliers
Receiving jewelry designs from the
designers
Finalizing the designs
Implementing the designs
Final touches to the products
professional designer and help us in providing unique and diverse range of design to the
customers.
These designs are then being forwarded to the manufacturing department; head of this
department is FaizaTanveer. The onward step till final touches to the product is done in this
department. FaizaTanveer will firstly finalize the designs of the design department and then she
will implement those designs with help of labor. She is responsible for this department and
department include 17 labors. The labor in this department is almost being paid according to the
product they manufacture. We basically pay Rs.70 per dozen to the labor. In a single day 700
products are almost made.
After manufacturing all products we will do final touches to the product and FaizaTanveer,
being a head of this department will see all these activity to assure the quality because we believe
in delivering the best to our customers. In the step of final touches, the product is keenly
observed and tags are attached to the products, which contains labeling, warnings and price tags.
In the last the product will be forwarded to the shops and will be in the hands of the customers.
The two other departments Finance and marketing are being headed by Muhammad Shakeel and
Sidra shaukat.
Market Needs

Flamenco is providing its customers with innovative, creative, handmade jewelry. It will provide
the following benefits to their customers:
Selection: A wide range of jewelry styles, creations, and anodizing schemes.
Accessibility: Flamenco design sells direct to the consumer, through a network of art/jewelry
galleries, and at art fairs and shows.

Customer service: The patron will be impressed with the level of attention and service that
they receive. This level of service occurs during all transactions with Flamenco designs from
answering questions, to order taking, to warranty repairs.
Competitive pricing: The pricing structure provides the consumer with a good value for
handmade jewelry and the craftsmen with a fair profit.
Identification of Costs
For the running of business the costs are firstly indentified and there are two type of costs which
are fixed and variable costs the details are as follows.
Variable Costs
Variable costs rise and fall with sales. They include materials and labor. When you make the
jewelry yourself, you should count the cost of your production laborbecause it has valuewhen
you need to expand your business.

Fixed Costs
Fixed costs include rent, furniture. These costs remain relatively stable, even when sales
fluctuate. Other fixed costs might include marketing expenses such as advertising.

*(Details given in Appendixes)
Market Demand
The demand of the jewelry product is elastic

When Demand is Elastic, price has a large impact on the demand for jewelrys.
This is generally true for Jewelry, as they are not required to exist.

Price elasticity of demand is defined as the percentage change in quantity demanded divided by
the percentage change in price. For handmade jewelry, the change in quantity demanded exceeds
the change in price, therefore, its elasticity is larger than one and the product is deemed to be
elastic.
Nature of demand curve
Since the existence of close substitutes limits the monopoly power, the demand curve faced by a
monopolistically competitive firm is fairly elastic. The precise degree of elasticity will however,
depend upon the number of firms in the group product or industry. If the number of firms is
fairly large and the product of each firm is not very similar, the demand curve of a firm will be
quite elastic. In case, there is close competition among the rival firms for the sale of similar
products, the demand curve of a firm will be less elastic.

The Market Structure
Monopolistic competition is a market situation in which there are relatively large numbers of
small firms which produce or sell similar but not identical commodities to the customers.
There are many other firms in the market which sell similar products (not identical) with
different brand names. The firm supplying jewelry enjoys a monopoly position over the sale of
its own product. It also faces competition from firms selling similar products.
Reasons for Monopolistic/Imperfect Competition in Jewelry Market

The main characteristic or features of monopolistic competition are as under:

A fairly large number of sellers
In jewelry the number of firms in monopolistic competition is fairly large. Each firm produces or
sells a close substitute for the product of other firms in the product group or industry.

Differentiation in products
Under monopolistic competition, the firms sell differentiated products. Product differentiation
may be real or imaginary.

Real differentiation is done through differences in the materials used, design, color etc.
Imaginary differences may be created through advertisement, brand name, trademarks
etc.
Advertisement
Another very important characteristic of the monopolistic competition is that each firm tries to
create difference in its product from the other by advertising through Art galleries, websites,
flayers, banners and through attractive packing, etc When it succeeds in its object, the firm
occupies almost the position of a monopolist. It is, thus, in a position to raise-the price of the
product without losing its customers.


Freedom of entry and exit of firms
The entry of new firms in the monopolistically competition industry is relatively easy. There are
no barriers of the new firm to enter the product group or leave the industry in the long run.

Non-price competition
In monopolistic competition, the firms make every effort to win over the customers. Other than
price cutting, the firms may offer after sale service, a gift scheme, discount not declared in the
price list etc.
Practicality concept
We have chosen to produce handmade jewelry. We have seen the market trends these days and
preference of customers towards handmade jewelry. Nowdays gold jewelry is not suitable to
wear because of thefts and snatching and gold prices are rising with each passing day so it is very
difficult for a common person to buy it. With such fears they are just kept inside of bank lockers
to keep them safe that is the main reason we found this gap in the market and we come up with
an idea of handmade jewelry. We are not offering only handmade jewelry but imitated jewelry as
well. Girls usually want something to wear matching with their dresses thats why we are making
jewelry of vibrant colors that can be carried with both looks whether eastern or western look
mostly we are focusing on traditional designs of jewelry. Girls were not wearing jewelry owing
to its huge size and some of them are metal allergic we have solved this issue we are using fancy
stuff along with beads, laces, ribbons and fancy thread with plastic supporting. Such trends are in
market moreover we have asked few customers in the market who regularly buy jewelry that
what would they like to wear heavy jewelry or something that looks like the heavy jewelry but
actually its way lighter than the heavy jewelry so the response was in our favor they want
something that is trendy and upto date. We have also seen the demand of our product because if
there isnt any demand for the product then all our efforts will go to vain because when a
customer buy jewelry they arent buying jewelry in fact they are buying a whole experience of
the entire range of the designer behind it. Its a small scale business, it give us a sufficient profit
within small investment.

Cost benefit analysis
It is define in the above income statement that our sales of projected five years are increasing
continuously and net income shows that profit is increasing with 45% in 2
nd
year, 47% in 3
rd

year, and this rate increase from5-7% every year.The maximum increases in our sales are 85%
and gives a positive response and image to our company day by day.
MarketComparison
Being Flamenco Owners we are providing best quality with unique designs to our customers
which are totally customized handmade items. All these designs are properly sketched and then
given to manufacturing department. As compare to our competitors we provide reasonable price
and add value-added services which value to our customers. We are giving replacement option
and further provide low cost products with the help of waste material to wholesalers. We also
accept all the urgent orders and give on time delivery. Art Gallery Shows is also one of a reason
for a better sale. We have a home base business that makes us different from others in a case of
cost.
Future Forecast
The analyses of market scale, market competition status, import and export situation, business
performance of key enterprises is a forecast of future jewelry industry. With the diversification
of jewelry consumption, the jewelry market is constantly divided into more market segments, the
brands are enriched, and the intrinsic quality is also improved. Under the impact of the
international financial crisis and the downward pressure from the domestic economy, in 2012,
the growth of Pakistans jewelry industry slowed down, but still maintained a good development
trend. Growing up in the market is a basic vision for a company. Same is a case with us; we also
planned for achieving those targets. Firstly we will expand our business by moving with an
increase in the product number e.g. from 700 to 1700 a day in the first year and for this we need
more labors and then keep on expanding with the need by launching in Karachi and Islamabad.
In the future we also are planning to have a shop in Lahore in the first year and then 4 shops in
the next 2 years.












Conclusion
Handmade items specially Jewelry is always appreciated by the young girls and women After through
research and applying the different strategies and economics concepts we have a strong intuition that our
business will be profitable and long lasting in the market. The main objective is to providing value to our
customers better than our competitors and we are doing this by making our product feasible to approach
and easy to carry we have also focused on quality and price is also reasonable. Now a days gold is quite
expensive most of the people cant afford it. So here is best suitable alternative of this to have a artificial
unique and trendy jewelry for the young girls and women.

















Appendixes










Working
Start-up Summary
Flamenco start-up costs will include the following equipment for the home-based
business:

Legal fees Rs.1,000
Website creation fees Rs.2,500
Home office furniture including desk, file cabinet, chairs Rs.1,000
Computer including printer, CD-RW Rs.7,000
DSL hookup Rs.2,000
Extra land phone line Rs.1,500
Cutting tools Rs.45,00
Raw materials (Ribbons, Laces, Cotton Balls, Artificial Flowers, Beads, and Fancy
Thread with Plastic Supporting.) Rs.11,400
Anodizing equipment Rs.2,000

Total Rs.32, 900








Raw material:
Beads Rs.500
Bails Rs.750
Bead caps Rs.250
Ring base Rs.1500
Brooch backs Rs.300
Cages and cones Rs.350
Headpins Rs.400
Ear wires Rs.250
Jump rings Rs.650
Ends and tips Rs.400
Chokers and bangles Rs.700
Laces Rs.1100
Cotton Rs.800
Balls Rs.550
Artificial flowers Rs.1400
Thread Rs.600
Plastic supporting Rs.900
Total Rs.11, 400









Floor plan
The business is home base so the floor plan is as follow:


Entrance Store Room

Designing Department Marketing Department


Manufacturing Department Finance Department

Packaging room Washroom
Design










Logo for our business