Business plan
Mission
Our mission is to provide our customers with access to high quality art tools, materials and environments for a monthly fee.
Like a fitness-club for artistry.
Vision
The Lab releases the artistic potential in all our customers.
Stimulating a currently rising artistic revolution in our generation to build a future based on connecting with our inner child and fostering careers in the endless world of artistic expression.
We are the foster home of the coming Picassos and Da Vincis of The Middle East.
Goals and Objectives
Acquire 90 subscribers of Art facilities, and 20 subscribers of Business facilities within the first 90 days of launching.
Achieve 200,000 USD in sales in year one with an annual growth rate of 15%.
Strategy
Our business creates an artistic environment with endless opportunities growing out from it.
Similar art-hubs exist, but none in our local and national community and our unique all-round business-art merge will allow us to command premium price for those who can and affordable solutions for those who need.
Target market
Demographic
We are targeting women and men between the ages 15 - 30 who are either new to a craft, hobbyists or established artists.
For our business facilities we are targeting independent entrepreneurs aged 25 - 45.
Geographic
Our target customers exist in a 15 km radius of Haifa, Israel which has a population of appx. 500,000 people.
The physical environment of the lab has its obvious limitations, however the online presence expands the potential end-user of the products created on site to a worldwide spectrum.
Psychographic
Our customers value personal and communal growth based on artistic expression.
They are interested in creating a business of their own and being a part of a community that benefits all involved and to launch their potential artistic career.
Our customers are environmentally aware and value high quality locally produced materials.
They see the big picture in the small things in creative ways and understand that the future is in their hands.
marketing plan
The 4 P's
Product
Our services give our customers a dedicated space for them to indulge entirely into their work of choice.
Place
As The Lab is a social place, social media plays a massive role in our marketing. Our events lets our users have a constant flow of content to share on their social media platforms.
Price
Our business model has low up-front costs and operates using a subscription model, with the opportunity to opt out at any time.
Promotion
We will create a clear presence at artistic bazars and other events around the country by physically opening pop-up shops with curated art from our users.
Messaging and Positioning
Do you have an inner artist with no place to go ? No brushes to use ? No guitar to play ? No floor to dance ? No stage to sing ? No clay to shape ?
Come to The Lab.
We have it all, and if we don't have what you need, we will get it, just for you.
Showcase your music.
Release your book.
Show your film.
Besides our art facilities we offer a community of creative thinkers and a place for anyone to come hang out and find inspiration again.
First week is free for all.
Sales and Business Development
Our sales strategy is to make 10 cold calls a day, buy 20 qualified leads a week and attend at least one networking event each week.
Our business development strategy is to contact small companies and offer a collaboration model customized for their needs and create win-win situations for all. We are not interested in acquiring other companies' customers, but rather a symbiosis of services and expertise.
Collaboration is key to our portfolio strategy. By teaming up with existing communities, inviting them to our premises and create social events we aim to create a viral marketing effect.
SWOT
Strengths
Our portfolio strategy is unique in the field.
Our location is comparatively massive.
Our social impact will inspire for local governmental support.
Our acquisition costs will be lower than our competitors due to our warehouse space.
We can easily budget from our subscriber tendencies.
Opportunities
We are introducing a new emerging business model and cultural institution that will create significant market disruption and social enhancements.
Our competitors are not capitalizing on the growing market.
Weaknesses
We have high fixed monthly costs which may reduce profits if sales decrease.
The company currently has no capital to cover operations.
Operations require a systematic on-point mentality which may lead to outsourcing of expertise and lead to higher costs.
We are dependent on reliable electricity, water and wifi. Necessities that unfortunately are not always viable.
Our portfolio strategy will not reach symbiotic state before all services are operational.
Threats
The political situation could sabotage the prosperity of the community as we are breaking cultural norms and could be regarded as disruptors of traditions.
Our company requires as certain type of laborer mindset and the applicant pool is relatively small.
Our services are regarded as non-essentials and could reduce reduce consumer spending
