1. Lacey Designs Shop for lace with smile on your face
Sedina Mustabasic
Grade: 11th
18 Years

2. Business Profile Type of Business: Legal Structure:
I decided to open up my own lace designs business in state of Connecticut because there are no businesses in this state and traditional Bosnian lace is very hard to find.
Type of Business:
Retail
I satisfy my consumer’s want for lace by providing beautiful hand made Bosnian lace at a reasonable price.
Legal Structure:
Sole Proprietorship
I selected sole proprietorship because it is the easies type of legal structure and I can be my own boss, therefore I can keep all my profits. 1

3. Opportunity Opportunities Qualifications
There are not any Bosnian Lace Design places in the state of Connecticut
Satisfy the customer by making custom made lace designs
Qualifications
Great customer satisfaction skills
Family owned store for 11 years in Hartford
4 family generation of lace work designing
Done lace work along side my mother since I was 8 yrs old 2

4. Consumer Profile http://lace.web.officelive.com/default.aspx
By Location
Home based business with a website available
By Population
Women who love decorating and making their homes beautiful.
By Personality
Customer mostly female, who love to keep their homes beautiful while having a little flavor of Bosnian tradition
By Behavior
Purchase lace design decorations for homes or any area needing some improvement
By Income
$15,000+ 3

5. Competition Competitive Advantage (Chapter 8)
Competitor
Price
Quality
Greatest Strength
Greatest Weakness
Michael’s
$ 9.99
Good
Sold where ever Michael’s is located
Not made from Bosnian tradition
Decorating with Lace
$ 12.99
Average
Beautiful lace designs
European Grocers
$ 20.00
Excellent
Beautifully hand made lace figures
Not personalized
Competitive Advantage (Chapter 8)
• Uniqueness combined with Bosnian tradition that lead to a beautiful personalized lace figure.
Very rare item sold in the United States 4

6. Marketing Mix Price: Place: Product: Promotion:
$15.00 – Represent combination of materials as well as an equal amount of profits.
Place:
Sold product through international stores such as; European Grocers,
Product:
Personalized lace design figure with a hint of Bosnian tradition for customers to make their homes beautiful
Promotion:
Business website, Business cards $.50, International Stores promoting my item 5

7. Marketing Plan Awareness Purchase Retention Phase Method Description
Cost
Awareness
Word of mouth,
Business Cards,
International Stores
International stores will promote my items which will have my business cards on them
$10/200
(extra 200 cards)
Purchase
Descriptions &
Personalization
I will make sure that customers understand my product is traditional and can be personalized in any way they desire
$6.39
Retention
Customers get 20% off my product if they recommend by product to others
If customer recommend new customer to come to my business, they will receive 20% of their purchase
$3.00 6

8. Cost of Materials/Direct Labor
Definition of One Unit
6’’ lace design figure
Cost of Sales Per Unit
Direct Labor
(Labor Cost per Hour) (A)
Time (in hours) to make 1 unit (B)
Direct Labor Cost Per Unit (A)*(B)
$ 8.00
35 minutes or .58/hr
$ 4.67
Total Direct Labor Per Unit $
Material Description
Cost/Total Quantity
Cost Per Unit ($)
Lace $
$ 1.50
Sugar
$ 11.72/25 lbs
$ 0.01
Gift Boxes
$ 21.00/100
$ 0.21
Total Material Cost Per Unit
$ 1.72
Variable Costs Per Unit (shipping)
$ 1.00
$ 7.39 8

9. Economics of 1 Unit Definition of One Unit 6’’ lace design figure
Selling Price per Unit
$ 15.00
Direct Labor Per Unit
$ 4.67
Materials Per Unit
$ 1.72
Total COGS Per Unit
$ 6.39
Variable Costs Per Unit (outgoing shipping)
$ 1.00
Total Cost of Sales
$ 7.39
Gross Profit Per Unit
$ 7.61 9

10. Business Schedule for a Typical Week
Time Management Plan
Business Schedule for a Typical Week
Entrepreneurship
25 hrs.
School Hours
50 hrs.
Work Hours
Sleep
Free-Time Hours
43 hrs. 10

11. Average Monthly Fixed Costs
Type of Fixed Cost
Monthly Cost
Entrepreneurial Stipend
$ 50.00
Utilities (from home)
$ 30.00
advertising
$ 0.50
Rent (from home)
Total Monthly Fixed Costs $ 11

12. Monthly Sales Projection
Units Sold
January 40
February
March
April
May 50
June 60
July
August
September
October
November
December
Monthly Break-Even Units (Chapter 20) 15
Total = 540 13

13. Projected Yearly Income Statement
Selling Price Per Unit
$ 15.00
# of Units Sold
540
Total Sales (A*B)
$ 8,100.00
Total COGS (COGS per unit * B) $
Other Variable Costs (Other variable costs per unit * B
$ 1.00
Total Variable Costs (D+E) $
Gross Profit (C-F)
$ 6,373.70
USAIIRD (Yearly)
$ 1,326.00
Other Costs/Unforeseen $
Total Fixed Costs
$ 1,226.00
Profit before Taxes (G-H)
$ 5,147.70
Less Estimated (I * .25)
$ 1,286.93
Net Profit
$ 5,086.77 14

14. Entrepreneurial hours needed for start-up (A)
Start-Up Investment
Entrepreneurial hours needed for start-up (A)
Wage I pay myself
(B)
Total start-up
time investment (A*B)
1 hr
$ 8/hr
$ 8
Item
Where I will buy this?
Cost of Item
Lace
Jo-Ann
Already Owned
Knitting Needle
Sugar
Sam’s Club
Gift Boxes
Papermart.com
$ 40.00
CASH RESERVE $
Estimated TOTAL START-UP INVESTMENT $ 15

15. Return On Investment 1340% $13.40 Return on Investment (ROI)
Yearly Net Profit ÷ Start-up Investment X 100
1340%
For every $1 dollar invested,
my business earned :
$13.40 16

16. Social Responsibility Plan
My business will give 3 % of my annual net profit to St. Jude Children’s Research Hospital.
I will have the business boxes and my business cards created with the St. Jude logo which will tell my customers that my business is a sponsor of St. Jude. 17

17. Business & Educational Goals
- Graduate from SMSA with high honors and get accepted to a University of my choice.
- Graduate from the University of my choice with the degree in Dentistry.
Business
- Sell more than 100 lace designs in the first quarter and expand my business.
-I hope to make enough
profit to open up my own
Lacey Designs store and hire
at least 2 employees. 18

18. Lacey Designs Thank you for your consideration of
Shop for lace with a smile on your face
Thank you for your
consideration of
Lacey Designs 19