Art shop “Avocadi” is an art and souvenir shop, situated in Hungarian town of Szentendre. Hungary is in 17th place ranking of World’s Top tourism destinations The place is carefully selected as it is only 20 kilometers from Budapest on the bank of the River Danube. The ancient houses, churches and traditions of its various ethnic groups so carefully preserved in this atmospheric small town have made it a popular destination for excursions. Located in the heart of Szentendre, art shop “Avocadi” will attract both tourists and locals. Because in all travel agencies’ programs visit to Szentendre is included (either by bus or boat), a large amount of tourists visiting Budapest spend a few couples of hours in Szentendre. Due to its internationally famed artists' colony as well as its numerous museums and galleries it is both a city of the living arts and a true tourist favorites.
Table of Contents
- Executive Summary
- Company Summary
- Company Description
- Start-up Summary
- Location and Location Analysis
- Opening Hours
- Management
- Company Ownership
- Employees
- Products
- Souvenirs
- Paintings and Mosaics
- Marketing Analysis
- Market Segmentation
- Competition Analyses
- Competitive Comparison
- SWOT Analysis
- Marketing Strategy
- Price Strategy
- Financing
- Basic Assumptions
- Revenue Calculations
Objectives and Key Themes
The main objective of the "Avocadi" art and souvenir shop business plan is to establish a unique and profitable business in Szentendre, Hungary, attracting both tourists and locals. The plan aims to differentiate Avocadi from typical souvenir shops by offering a unique combination of high-quality, handcrafted souvenirs, original and reproduction mosaic artwork, and paintings.
- Establishment of a unique art and souvenir shop in Szentendre.
- Attracting tourists and local customers through a combination of high-quality products and a distinctive atmosphere.
- Offering a diverse range of products, including handcrafted souvenirs, original and reproduction mosaic artwork, and paintings.
- Developing and introducing new and unique souvenir products.
- Implementing a competitive pricing strategy while controlling costs.
Chapter Summaries
Executive Summary: The Avocadi art and souvenir shop, located in Szentendre, Hungary, aims to differentiate itself from competitors by offering a unique blend of handcrafted souvenirs, original and reproduction mosaic artwork, and paintings. Its strategic location in a popular tourist destination, combined with its emphasis on high-quality products and a distinctive atmosphere, is expected to attract both tourists and locals. The business plan outlines the company's objectives, market analysis, and financial projections.
Company Summary: This section details the structure and operations of Avocadi. The company is a sole proprietorship owned by Veronika Minkova, collaborating with contracted artists for paintings and mosaics and independent producers for souvenirs. The start-up summary outlines the initial investment costs, including renovations, equipment purchases, materials, and marketing expenses. The location analysis highlights Szentendre's popularity as a tourist destination and its potential to support a unique art and souvenir shop.
Management: This chapter discusses the management structure of Avocadi. Veronika Minkova serves as the owner and manager, supported by her family and contracted artists (Dimitar Ivanov for paintings and Emil Minkov for mosaics), and souvenir producers. The plan details the roles and responsibilities of each member of the team, emphasizing their contribution to the overall success of the business.
Products: This section categorizes Avocadi's product offerings: souvenirs (comprising 86% of production), mosaics and paintings (9% and 4% respectively), and bags and purses (1%). It highlights the emphasis on high-quality, handcrafted souvenirs in an artistic style, the uniqueness of mosaic reproductions and originals of famous masterpieces, and the overall product diversity to attract a broad customer base. The unique nature of the mosaic artwork is emphasized as a key differentiator in the market.
Marketing Analysis: This chapter examines the market for art and souvenirs in Szentendre. It includes a market segmentation analysis, identifying target customer groups (tourists and locals), a competitive analysis examining existing souvenir shops, and a SWOT analysis assessing Avocadi's strengths, weaknesses, opportunities, and threats. The marketing strategy focuses on creating a unique and appealing atmosphere, offering competitive prices, and providing exceptional customer service.
Financing: This section outlines Avocadi's financial plan, detailing the start-up costs and the sources of funding (family savings and a bank loan). It discusses the key financial assumptions used in the projections and presents revenue calculations, demonstrating the shop's potential profitability. This detailed financial section aims to demonstrate to investors that the project is financially viable and holds a significant potential for success.
Keywords
Art, souvenir shop, mosaics, paintings, handcrafted, Szentendre, Hungary, tourism, marketing strategy, financial planning, competitive advantage, unique selling proposition, handmade souvenirs, artist collaboration.
Avocadi Art and Souvenir Shop Business Plan: Frequently Asked Questions
What is the main objective of the Avocadi business plan?
The main objective is to establish a unique and profitable art and souvenir shop in Szentendre, Hungary, attracting both tourists and locals by offering high-quality, handcrafted souvenirs, original and reproduction mosaic artwork, and paintings.
What products does Avocadi offer?
Avocadi offers a diverse range of products including handcrafted souvenirs (86% of production), original and reproduction mosaic artwork (9%), paintings (4%), and bags and purses (1%). The emphasis is on high-quality, handcrafted items with a unique artistic style.
Who are Avocadi's target customers?
Avocadi targets both tourists and local residents of Szentendre, Hungary.
What is Avocadi's competitive advantage?
Avocadi's competitive advantage lies in its unique blend of high-quality handcrafted souvenirs, original and reproduction mosaic artwork, and paintings, differentiating it from typical souvenir shops. Its strategic location in a popular tourist destination and emphasis on a distinctive atmosphere also contribute to its competitive edge.
What is the company structure of Avocadi?
Avocadi is a sole proprietorship owned by Veronika Minkova. She collaborates with contracted artists for paintings and mosaics and independent producers for souvenirs.
What is Avocadi's marketing strategy?
The marketing strategy focuses on creating a unique and appealing atmosphere, offering competitive prices, and providing exceptional customer service. It also includes identifying and targeting specific customer segments (tourists and locals) through a detailed market analysis and competitive comparison.
What is included in the financial plan?
The financial plan details start-up costs, sources of funding (family savings and a bank loan), key financial assumptions, and revenue calculations to demonstrate the shop's potential profitability and viability.
What are the key themes explored in the business plan?
Key themes include establishing a unique shop in a prime tourist location, offering high-quality and diverse products, implementing a competitive marketing and pricing strategy, and securing sufficient financing for a successful launch and operation.
What is the location of Avocadi?
Avocadi is located in Szentendre, Hungary, a popular tourist destination.
What are the chapter summaries included in the business plan?
The business plan includes chapter summaries for the Executive Summary, Company Summary, Management, Products, Marketing Analysis, and Financing sections, providing a concise overview of each area.
- Quote paper
- Veronika Minkova (Author), 2009, Business Plan for an Art and Souvenir Shop, Munich, GRIN Verlag, https://www.grin.com/document/180854
