Constant Crochet Business Plan
Ms. Sullivan
I. General Company Description
Constant Crochet will be a business for those interested in needle arts,
mainly knitting and crocheting. The store will sell yarns, patterns, books, hooks,
needles, notions, and some finished products such as sweaters, socks, hats and
mittens. The main goal of this company will be to sell quality, affordable crocheting
and knitting materials to the people in the Upper Valley of New Hampshire.
Progress will be charted through weekly sales charts and numbers of customers.
Our main goal is to make more money each month in the first six months we are
open.
Our basic philosophy is to offer a variety of quality knitting and crocheting
products at affordable prices while maintaining a friendly and helpful atmosphere.
We hope that through our efforts we will have a large returning customer base. The
customers we expect to cater to will be men and women of all ages and social
classes in the Upper Valley region of New Hampshire and Vermont.
Constant Crochet will be a strong company because we will employ friendly,
experienced, and knowledgeable professionals. We will have an array of quality
products with prices comparable to our competition in the area. The downtown
Hanover area is convenient to most people in the Upper Valley and there is
municipal parking nearby. We will compete through advertising, sales, coupons,
and by having a variety of crocheting and knitting classes. Personally, I can bring
certain skills to this business. I have experience crocheting and knowledge of yarn
and materials. Having been a teacher, I have patience and understanding and I’ll be
able to teach some of the courses offered at the store. I also have a Master’s Degree,
retail experience, and leadership skills which I can bring to this business. Overall, I
feel we will be very successful.
II. Products and Services
Constant Crochet will carry yarns, materials, notions, patterns, and finished
products for purchasing. We will also teach beginner through advanced classes in
knitting and crocheting.
We plan on stocking our store with yarns made of different materials
including cotton, wool, alpaca, cashmere, silk, bamboo, banana, and corn. Our hope
is to carry as many local products as possible, to help the economy and other local
businesses in the Upper Valley. Also, we will sell knitting needles, crochet hooks,
stitch markers, buttons, and other necessary notions. We will have a library of
books and patterns for sale and for loan. Our store will display finished products
including sweaters, hats, mittens, and socks so that customers can see what their
yarns will look like once they are in a pattern. Some of these products will be for
sale.
We will have an advantage over our competition because of our locally
purchased goods, friendly and knowledgeable staff, fair return policies, variety of
classes.
Pricing:
Yarns: $5-25 per skein (depending on material and size of skein)
Needles and Hooks: $3-10 ea/pr.
Books: $10-30
Patterns: $2.50-6.00
Classes: $20-75 (depending on duration and necessary materials)
Finished projects: $15-90
III. Features and Benefits
Customers will be impressed by Constant Crochet’s wide variety of yarn in
many sizes, colors, textures, and materials.
Customers will be able to find
appropriate yarn for any project. This statement is true for hooks, needles, and
notions, as well. The classes we offer will be of high interest to people of all levels of
experience in knitting and crocheting and the projects will be interesting and useful.
The books and patterns we carry will be for the full spread of experience, as well.
IV. Customers
Gender: male and female
Area: Upper Valley of New Hampshire and Vermont, possibly beyond
Abilities: Beginner to Advanced
Ages: All
Socioeconomic Level: All
V. Competition
The other businesses in the area with whom I will compete are:
1. Country Woolens
160 Mechanic St.
Lebanon, NH
2. White River Yarns
1011 N. Main St. #7
White River Junction, VT
3. Northern Lights Yarn Shop
Main and Elm St.
Norwich, VT
These stores will compete with Constant Crochet in many ways, but we will be
selling more local yarns, which will satisfy the idea of a sustainable economy in the
Upper Valley. Many people in that area try to “buy locally”. We will also have a
wider variety of yarns, including those made of banana, bamboo, and corn. Our
prices will be comparable to those of the other stores, but the classes we offer will
be different.
VI. Promotion
All new companies need promotion in order to get the word out that they
exist. Our beginning strategy will be to hang flyers in area businesses, place print
advertisements in the Valley News and Concord Monitor newspapers. We will also
create radio advertisements for local stations, and we will list ourselves in the
Yellow Pages. We believe that these are the most cost-effective methods for getting
people to know us. We have also decided that we will have weekly sales and special
promotions, as well as coupons in the paper. There will be incentive programs such
as if you sign up for a class, your friend can sign up for 20% off.
We hope to project the image of “country living” and “going back to the
basics”. We are confident that people will find the store to be a friendly and
welcoming atmosphere filled with helpful employees.
Our Logo and Slogan
Constant Crochet
“Constant Crochet—Be
Inspired!”
VII. Proposed Location
Constant Crochet’s proposed location will be on Main St. in Hanover, NH.
This location is important to the customers because it is a high traffic area with
plenty of municipal parking. It is easily accessible. The Upper Valley is large with
many rural areas, so most people need to drive to Hanover or Lebanon, NH to shop.
The store will be located within 5 miles of Country Woolens and the Northern
Nights Yarn Shop, which is ok because both of these stores cater to somewhat
different clientele.
VIII. Personnel
 Number of Employees: 3 full time, 2 part time
 Skill: Need to be skilled in either crocheting or knitting (or both), have retail
experience, friendly demeanor, willingness to help others, ability to teach
courses.
 Recruitment: Advertise in the Valley News.
 Training: Train with representatives from yarn companies in order to have full
knowledge of products. May need training on cash register and computer retail
program.
 Tasks: Each employee will be trained in all tasks, so there is no specific division
of labor.
Tasks will include helping customers, stocking shelves, teaching
classes, creating projects, signing out books/patterns for loan, running the cash
register. The owner will complete all of the inventory and ordering.
 Uniforms:
No uniforms will be needed, but employees should dress in a
comfortable, clean, and professional manner.
 Pay: To begin, all employees will be on the same pay scale. Employees will be
paid at an hourly rate of $12.50/hr. to start. There will be bi-monthly reviews of
the employees. At this time raises will be discussed. Eventually, as the store
gains a customer base and the need arises, a manager will be hired from within.
That individual’s salary will be negotiable.