Section one

Executive summary

1.1 Business summary:

A craft-based business, selling on Etsy, the business will sell handmade rice bags, sewn primarily by machine and finished by hand. To supplement this there will be other lines in patchwork bags as well as simpler and smaller items, all decorative and functional, for sale, for use around the house, for example bunting, coasters, and place mats.

1.2 Business aims:

The aim of the business is to provide an additional income stream in retirement, by creating a business which as well as generating income, provides a creative outlet for me, the owner, can be run from home and will fit around my other roles and interests. Starting small, concentrating on providing textile bags, with a small selection of other hand-made goods, the aim is to keep stock and labour costs in line with budget. Proceeds will initially be reinvested into the business, which over time will allow the business to grow and me to develop my skills and expand the range, exploring the viability of offerings such as wall hangings, art quilts and other bespoke items for clients.

1.3 Financial summary:

Being a mature individual, with saving and other sources of income, I will in the first instance be able to fund the startup costs myself. I will allow for an initial investment of £200 of my own money for new materials, including packaging, and keep a close eye on time spent, not only on making products but on the administration of the shop e.g. managing the finances, taking parcels to the post office etc.