If you are planning to write the pottery studio business plan on your own, then this sample pottery studio business plan can be great for guidance. However, if you are looking for a professional business plan writer for a business loan, SBA loan or to find out the possibility of success for your new business then let’s talk!
Overview: The Boulder Potters’ Guild is a non-profit cooperative studio that was established in 1969 to provide studio and firing facilities for ceramic artists. Our vision is to provide a vibrant environment where members can come together to grow as artists and students may learn how to work with clay. Our artist members have access to facilities for making, glazing, and firing a variety of ceramics. We also host workshops with nationally and globally acclaimed potters and offer instruction for all levels of pupils. We hold a Show & Sale at the Boulder County Fairgrounds in Longmont twice a year, in May and November. We also work with other local organizations to create educational opportunities and bring the joy of handmade ceramics to our community whenever feasible.
Mission: The Boulder Potter’s goal is to give guests a fantastic creative environment in which to design and build one-of-a-kind pottery.
Vision: Our aim is to be a lively, diverse, and long-lasting community dedicated to the promotion of the ceramic arts.
Industry Overview: From 2021 to 2028, the global ceramics market is predicted to rise at a CAGR of 4.4 percent, from USD 247.4 billion in 2020 to USD 247.4 billion in 2028. Because of the continuing rise in residential building around the world, the use of ceramics in the manufacture of items such as tiles and sanitary ware is expected to expand.
Financials is one of the most important sections of a pottery studio business plan. You can get an idea of your projected revenue, required investment amount, is the business sustainable without additional funding, etc.
The industry analysis section of the pottery studio business plan will help you get better insights into competitors, market growth, and overall industry prospects. You can order a custom market research report for your pottery studio business plan.
Overview: The global ceramics market is projected to grow from $130.19 billion in 2021 to $219.12 billion by 2028 at a CAGR of 7.7% in forecast period, 2021-2028. In 2020, the global ceramics market was valued at USD 123.08 billion. The pandemic’s impact on COVID-19 has been unprecedented and startling, with the product experiencing a negative demand shock in all countries. According to your calculations, the worldwide market would experience a massive drop of 5.3 percent in 2020, compared to the average year-on-year rise from 2017 to 2019. During the period 2021-2028, the market is expected to increase at a CAGR of 7.7%, from USD 130.19 billion in 2021 to USD 219.12 billion in 2028. The unexpected increase in CACR is due to the growth and demand of this market, which will return to pre-pandemic levels once the pandemic is gone.
While working on the industry analysis section of the pottery studio business plan make sure that you add significant number of stats to support your claims and use proper referencing so that your lender can validate the data.
The construction industry is extremely important to this market. During the pandemic, however, building and construction activity were halted due to lockdown laws imposed by various governments around the world. The product’s demand has been further reduced by the closure of manufacturing sites around the world. According to figures published in the Ceramic World Review, global tile production fell to 12,673 million square meters. In 2019, it is expected to drop to 11,600 square meters. In the year 2020. The construction industry’s demand has fallen as a result of this factor. Furthermore, the market was badly impacted by economic slowdowns in the steel, automobile, electronics, and aerospace industries. By 2022, however, the market is likely to regain its strength.
A key part of the marketing plan in a pottery studio business plan is the marketing budget. The growth in the number of customers is proportional to the budget and dependent on the CAC.
Promotional Budget Allocation:
Discounts: Discount pricing is a form of promotional pricing strategy that involves lowering the initial price of a product or service in order to increase traffic, move inventory, and drive sales. People are attracted to reduced pricing because they enjoy the sense of getting a good bargain. Discounting creates a sense of urgency, which may encourage more customers to convert.
Social Media: The way we function as a society, particularly how we engage with one another, has been altered by social media. Businesses took notice as social media platforms like Facebook, Twitter, and Instagram grew in popularity. They started using social media marketing to promote their interests on these sites. This is because these websites have the ability to influence customer behavior.
Email Marketing: A powerful marketing channel that uses email to advertise your company’s products or services. It’s a type of direct marketing as well as digital marketing. By incorporating it into your digital marketing activities, it can assist make your customers aware of your newest items or offers.
SEO: Search Engine Optimization isn’t often covered in art school, but it’s just as crucial to your profession as selecting the appropriate glaze for your clay body. Understanding and utilizing Search Engine Optimization (SEO), which is used to target customers, is one part of successful internet marketing. SEO is the process of making changes to a website’s content and links in order to increase traffic and rank higher in Google or other search engines’ results. Organic (non-paid) search results are the emphasis of SEO. As your site climbs the ranks, it will become more prominent and will likely reach a larger audience. This is why search engine optimization (SEO) is so crucial for artists.
Content Marketing: According to the Content Marketing Institute, is a strategic marketing technique that focuses on developing and distributing valuable, relevant, and consistent content in order to attract and keep a clearly defined audience – and eventually, to drive lucrative consumer action. Pottery is the ceramic substance that is used to manufacture potterywares, the most common of which being earthenware, stoneware, and porcelain. A pottery is a location where these products are created. The phrase can also be used to describe a potter’s craft or the process of making a pot.
This section of the pottery studio business plan helps your lender figure out whether you will be able to pay off the loan, whether the business is sustainable, what are the growth prospects, etc.
|Total annual revenue||47,985||301,236||882,211||2,057,189||3,837,842|
|COST of REVENUE|
|Total Cost of Revenue||285,560||615,220||987,794||1,455,612||1,935,625|
|as % of revenue||595%||204%||112%||71%||50%|
|SELLING & ADMIN EXPENSES|
|Total selling & admin expenses||166,464||363,924||500,428||576,525||695,230|
|as % of revenue||347%||121%||57%||28%||18%|
|Accumulated net profit||-404,039||-1,081,947||-1,687,957||-1,662,905||-455,918|
Cash Flow Statement:
|CASH FLOW from OPERATING ACTIVITIES|
|Net profit before tax||-$404,039||-$677,907||-$606,011||$25,052||$1,206,987|
|change in payables||$25,917||$25,250||$22,000||$25,417||$24,417|
|change in receivables||-$680||-$2,634||-$4,773||-$5,285||-$7,736|
|Net cash flow from operating activities||-$334,536||-$569,958||-$468,280||$203,311||$1,423,180|
|CASH FLOW from INVESTING ACTIVITIES|
|Net cash flow/ (outflow) from investing activities||-$180,000||-$167,200||-$150,040||-$159,720||-$175,692|
|CASH FLOW from FINANCING ACTIVITIES|
|Net cash flow from financing activities||$400,000||$440,000||$484,000||$532,400||$585,640|
|Net (decrease)/ increase in cash/ cash equivalents||-$114,536||-$297,158||-$134,320||$575,991||$1,833,128|
|Cash and cash equivalents at the beginning of the year||–||-$114,536||-$411,693||-$546,014||$29,978|
|Cash & cash equivalents at the end of the year||-$114,536||-$411,693||-$546,014||$29,978||$1,863,105|
|Net non-current assets||$135,733||$217,600||$247,136||$248,729||$224,909|
|Total current assets||-$113,856||-$408,380||-$537,927||$43,349||$1,884,214|
|Accumulated net profit||-$404,039||-$1,081,947||-$1,687,957||-$1,662,905||-$455,918|
|Total liabilities & equities||$21,878||-$190,780||-$290,791||$292,078||$2,109,122|