Interiors Decoration Business Plan
PATILAD Interiors is a start-up business that will offer comprehensive interior design services for home and office. This business will assist those that want to have guidance, development and execution of design concept for homes or offices.
PATILAD Interiors will offer the ability for clients to purchase new and antique furniture, artwork, decorator fabric, and home accessories. The website www.PATILADinteriors.com will be used as another way to communicate the services available and provide a portfolio of the work accomplished.
Table of content
1.0 Executive Summary.. 4
2.0 Company Summary.. 6
2.1 Expansion Summary. 6
2.2 Company Locations and Facilities. 6
3.0 Products. 7
4.0 Market Analysis Summary.. 8
4.1 Market Segmentation. 8
5.0 Strategy and Implementation Summary.. 10
5.1 Competitive Edge. 12
5.3 Value Proposition 12
5.4 Marketing and Sales Strategy. 12
5.2.1 Pricing Strategy.. 13
6.0 Operational Plan.. 15
7.0 Management Summary.. 16
7.1 Personnel Plan. 16
8.0 Financial Plan Summary. 17
8.1 Start-up Funding.. 17
8.2 Important Assumptions. 17
8.3 Financial Plan and Projections. 18
1.0 Executive Summary
PATILAD Interiors is a startup business that offers comprehensive interior design services for homes and offices in the heart of Abuja, FCT. PATILAD Interiors also will provide access to products to complement the design consulting services including furniture, both new and antique, decorator fabric, and home and office accessories. This venture offers personalized services the target market desires and can afford in a way that is unique from concept to implementation.
We have the latest 3D software that carries out virtual designs for our customers to see a ready-made prototype from anywhere in the world. We offer both the exterior and interior designs of modern and classic styles.
Abuja is a growing city and the fastest developing metropolitan city in Africa. An approximate of a thousand houses are being built across the length and breadth of the city quarterly. More jobs are created through the social service of government parastatals whose heads are situated in the nation’s capital.
Recent market research indicates a specific and growing need in the area for the interior design consulting services and products PATILAD INTERIORS offers the market it will serve. The market strategy will be based on a cost-effective approach to reach this clearly defined target market. Abuja is growing at 139% within 2010 and 2015 and as reported by the Abuja Chamber of Commerce. Abuja is the fastest developing city in Africa, with real estate constructions for industrial and residential purposes being, has a population of over 5,000,000, the market has a significant quantity of relatively wealthy households that are conscious of the appearance and feel of their home and offices.
We will promote PATILAD INTERIORS through establishing relationships with key people in the community and then through referral activities once a significant client base is established. PATILAD INTERIORS will focus on developing solid and loyal client relationships offering design solutions based on the client’s taste, budget, use, and goals for space. The additional selection, accessibility of the product, design services, and value-based pricing will differentiate PATILAD INTERIORS from the other options in the area.
Total revenues in the first year are projected to exceed N15, 000, 000. The venture will show increasing profits in year two and three, with revenues projected to increase to almost N50,000,000. This interior design business plan outlines the concept and implementation and details regarding the first three years of this venture.
PATILAD Ltd. is an Abuja-based company, located in Area 10 Abuja; in an ideal location highly suitable for this kind of business. We are seeking to have an expansion of our facilities and procure new machines and equipment that will help us satisfy our teeming clients and customers better, faster and more cost-effective.
PATILAD Ltd.’s management team is led by Dayo Adetiloye as Chief Executive Officer/Managing Director, who has extensive knowledge of the industry. The 2 years old company presently has five temporary employees, three permanent employees and three trainees. Upon reception of funds, we intend to double this figure. More details present under the personnel plan section.
Our primary points of differentiation offer these qualities:
- A unique client experience from trained and professional interior designers that is qualified and capable of meeting the needs of discerning clients with high expectations.
- Access to a wide and unique selection of new and antique furniture, accessories, and special-order decorator fabrics.
- Personal assistance from complementary product offering, including hard-covering window treatment, hardware, and home accessories that fit the look and objectives of each project.
The Abuja metropolis is constantly expanding with the real estate boom experienced since 2010. The migration to Abuja is recorded to be about 30% higher than that of any city in Nigeria apart from Lagos. In view of that, we have positioned our Interior deco company to service the residence of Abuja – Nigeria and every other location where showroom with outlets will be located all over key cities in Nigeria. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.
The company is seeking five million Naira (N5,000,000) in both short-term and long-term loans to finance the purchase of PATILAD Interiors, upgrade the facilities, and cover start-up expenses and first-year losses. The company will make a profit of N5 843 950 in the first year of its operations. We do not expect to have any cash flow problems in the next four years of operations.