Completed Final Project (Combine all the parts together with all the corrections from previous feedback) 2. ?Appendix (Tables, calculations, graphs, etc.) 3. ?References 4. ?Create a

T3 Embroidery LLC

BUSINESS PLAN

Prepared by:

Latasha N. Felder

304 Martin Luther King Dr.

Lonnie, Georgia 31095

9123972151

[email protected]

t3embroidery.com

I. EXECUTIVE SUMMARY

T3 Embroidery LLC (referred to from here on in as the "Company") was established as a Limited Liability Company at 10406 GA Highway 26 E, Montezuma, Georgia 31063, with the expectation of rapid expansion in the manufacturing industry.

Business Description

The Company was formed on 03/01/2023 as a Limited Liability Company under Georgia state laws and is headed by Latasha N. Felder.

The Company currently employs 2full-time employees and three part-time employees.

Business Mission

"T3 Embroidery is dedicated to providing customized embroidery and unique sewn patches made with precision and passion, catering to everyone who loves embroidery while constantly offering new and fresh designs. "

New Service

The Company is prepared to introduce the following service to the market:

Stitch work: We specialize in custom embroidery, sewn patches, and design services. The company offers products made with precision and passion, and they pride themselves on its attention to detail.

II. BUSINESS SUMMARY

Industry Overview

The manufacturing industry presently makes 15 dollars in sales in the United States.

Research shows that consumers in this industry primarily focus on the following factors when making purchasing decisions:

T3 Embroidery plans to leverage social media networks by creating new content, launching new products, and running. Campaigns that will be shared across their active channels. They also recognize the importance of motivating customers to advocate for their business by spreading the word to their friends and family.

As T3 Embroidery grows, they plan to build a team and employ more staff to help manage their orders and reduce turnaround times.

Business Goals and Objectives

Short Term:

1. Increase customer base by 20% within the next year through targeted marketing efforts.

2. Achieve a 90% customer satisfaction rate through regular feedback and improvement measures.

3. Increase production efficiency by 15% through process improvement initiatives.

4. Expand product offerings to include a new line of embroidery designs within the next six months.

Long Term:

5. Increase revenue by 25% next year through strategic pricing and promotion strategies.

6. Hire and train two new employees within the next six months to increase capacity and shorten turnaround times.

7. Establish partnerships with at least two small fashion brands within the next year to expand market reach.

8. Increase social media engagement by 30% within the next six months through regular posting and targeted advertising.

Legal Issues

The Company affirms that its promoters have acquired all legally required trademarks and patents.

III. MARKETING SUMMARY

Target Markets

The Company's primary target markets are as follows:

T3 Embroidery's target group is anyone who loves embroidery. Most of their customers are schools and small businesses, but they aim to expand their reach to other companies in the future.

The estimated number of potential clients within the Company's geographic scope is 20.

Table 1: Target Market Analysis

Pricing Strategy

The Company has comprehensively analyzed its competitors' pricing and has decided on a pricing strategy based on the number of stitches required for each item while considering its customers' price sensitivity and ensuring that the margins would cover operating costs. The company will have fees ranging from $25 to $65 per piece, allowing buyers to select a price that fits their budget. This competitive strategy also enables T3 Embroidery to target diverse consumer categories, with some ready to pay a premium for superb quality merchandise while others are more budget conscious.

Table 2: Pricing Strategy

T3 Embroidery would be considered a bargain choice and a premium brand compared to the company's competitors. This is because the company has considered the prices of the direct competitors and has set prices that are similar or slightly lower, depending on the product and level of customization, hence meeting the needs of a broad audience.

T3 Embroidery's pricing strategy aligns with what was revealed in its competitive analysis. They have researched the prices of similar offerings and have established fair and competitive rates. T3 Embroidery will provide exceptional customer service and credit policies, guaranteeing that consumers are delighted with their products and services. For customers with limited financial resources, they will also offer payment plans and other forms of flexibility in pricing. These measures will boost customer loyalty and repeat purchases.

Promotional Strategy

T3 Embroidery intends to employ a comprehensive marketing plan to reach prospective clients and increase brand recognition. The firm has identified low-cost methods, such as social media marketing, email marketing, and referral programs, to maximize its promotional budget.

In addition to low-cost methods, T3 Embroidery intends to use targeted Facebook and Instagram ads for paid advertisements. This will enable the business to reach prospective consumers who may not follow its social media accounts. The firm will also exhibit its products and network with prospective customers at trade exhibits.

T3 Embroidery desires to project a professional and superior image to its clients. The company will spend money on designing logos, business cards, flyers, and signs to help make its brand more recognizable. The business’s interior will be designed to exude professionalism while being warm and inviting to customers.

T3 Embroidery intends to implement a system to recognize recurring clients and routinely contact them via email marketing or tailored promotions to increase customer retention. T3 Embroidery aspires to promote customer loyalty and positive word-of-mouth recommendations by maintaining relationships with returning clients.

The Company aims to:

· Increase customer base by 20% within the next year through targeted marketing efforts.

· Achieve a 90% customer satisfaction rate through regular feedback and improvement measures.

· Increase production efficiency by 15% through process improvement initiatives.

· Expand product offerings to include a new line of embroidery designs within the next six months.

Distribution Strategy

T3 Embroidery intends to have a physical and online store to sell its goods. Customers will have the option of making purchases either in-store or via their website.

The Company intends to sell its products directly to clients and will not use distributors as part of its distribution network. However, they are open to collaborating with small fashion businesses to broaden their market reach.

T3 Embroidery will distribute its products through its own sales staff and agents. They will also use social media networks and targeted advertising to enhance customer involvement and revenue.

As the company expands, they intend to recruit and train two new staff within six months to boost capacity and reduce turnaround times. They also hope to raise social media engagement by thirty percent in the next six months through regular posting and targeted advertising.

Services

First-rate service is intended to be the focus of the Company and a cornerstone of the brand's success. All clients will receive conscientious, one-on-one, timely service in all capacities, be they transactions, conflicts, or complaints. This is expected to create a loyal brand following and return business.

IV. FINANCIAL PLAN

T3 Embroidery is a product-providing company specializing in custom embroidery, sewing patches, and design services, catering to everyone who loves embroidery. T3 Embroidery utilizes financial statements such as balance sheets and income statements. From T3 Embroidery’s balance sheet, the company requires a source of funds of $ 13,000. From its income statement, T3 projects a gross profit of $20,000 during its first year of operation. A 3-year projection has shown an increase in its net income. So, a source of funding will significantly improve its services and products and its overall net income.

b) i) A balance sheet of T3 embroidery showing the amount of equity needed

Bii) T3 Projected income statement for the first year

Sales				30000
Cogs				10000
Gross profit				20000
Operating expenses
Rent				700
Salaries				4000
Insurance			500
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