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Case Study: Hobby Lobby

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B.A.E. Artists! Have you ever wanted to go to the store to pick up another tube of that paint color that you just love so much? When you go to Hobby Lobby, you go out for one tube of paint, you come back with two vases, three throw pillows, and a scented candle or two. When you get home with all this great stuff,it was a bargain, no doubt, but you realise that you didn’t even come back with the paint you wanted! Brushes and Easels will hopefully take care of the problem getting distracted while you’re on your way to get your pencils, paints, and paper, and you won’t get lost and find Narnia going all the way to get what you need or worry about breaking any vases. We will have a variety of sections such as: Kids-consists of Crayola …show more content…

It’s like the back section of the crafts store Hobby Lobby. We find that there’s just a problem with how big and diverse Hobby Lobby is and it distracts people from what they want. So we aim to have just more of the products that are used for art-making. Our pricing for the first six months will be fairly low and then in the next six, our prices will gradually rise until we get them based off of a wholesale price. So at first our pricing will be more competition based. Then finally once we have a good customer base are prices will rise but still be a little lower than hobby …show more content…

This does not include paying ourselves or any employee yet or restocking inventory. For the cash flow of our business, we estimate about $64166 a month. Starting the business, each of us plan on giving 15,000 so that it will add up to roughly 45,000. This being so we don’t find the need to apply for any loans because the average startup cost for a business is 30,000, so we feel like we would be able to start this investment. Our expenses will include the rent for the space we will be held which is $900 a month. We each take home $30,000 a year. And for restocking our inventory we will buy $10,000 every month and a half or so. Restocking really just depends on what and when we we need

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