Lynne Interiors 2011 One Page Business Plan
Vision
Mission
• Within the next 5 years, Lynne interiors will become a locally known hospitality commercial interior design firm that creates innovative, unique construction, contemporary design.
• Experimenting with unique materials and construction will set design trends.
Objectives
• Increase profit 50% within 5 years • Increase client base • Get published in local magazine in first year • Gain reputation with local design firms • Help manufactures develope new sustainable materials for innovative construction
Strategies
• Cultivate relationships with food and beverage industry • Attract attention with innovative restaurant design • Design sustainable as possible • Educate the firm with new materials and new construction techniques
Action
• Join food and beverage professional group • Develope budget plan for needs to make profit • Contact magazines and present portfolio • Attend all educational meetings to learn about design trends
Mission Statement: By experimenting with unique, sustainable, materials and construction techniques, Lynne Interiors will become a locally known design firm and set design trends for the future.
Business Formation: Sole Proprietorship
Specific Services Offered: Lynne Interiors is a commercial design firm that focuses in hospitality design such as up and coming restaurants, bars, and diners. The firm provides the service of all the design phases. This includes programming, schematic, design development, construction documents, and contract administration.
Executive Summary: Shannon Lynne is the owner and the principle of Lynne Interiors. Shannon graduated from Rocky Mountain College of Art and Design with a Green area of emphasis. RMCAD is a CIDA accredited school that provides a focus in Green Design and how to use sustainable strategies. Shannon is NCIDQ certified, an IIDA and USGBC member and actively goes to continuing education class. Before deciding to open her own firm, she has worked for several large name commercial firms. Shannon has 10 years of experience and the knowledge to run her own firm. Her background is in mostly restaurant design and she knows that there is always a need for a new, up and coming restaurant or bar with the best design.
Management: Shannon will manage both the business and design side of the firm. Shannon is looking to hire two junior designers that will help with the design process in the projects. She will also hire a receptionist who will look manage all of the financial records. For legal reason Shannon will have an accountant and lawyer to help with formal records. The designers and receptionist will have a yearly salary plus merit pay. They will also receive benefits of health insurance, paid vacations, NCIDQ testing funds, and educational enhancement funds.
Break Even Analysis: The fee structure is based on hourly calculation. The principle will earn $52,000 a year and the junior designers will earn $45,000 a year. The monthly expenses come out to be $16,599. In order to make a profit the principle will need to be billed for 90 hours charging $120 an hour, thus bringing in $10,800. The two junior designers will need to be billed for 70 hours charging $80 an hour, thus bring in $6,300.
Goals: Short term: • Market the firm as much as possible and gain a client base. • Start making connections with local manufacturing companies to learn their products. Long term: • Make profit of 50% • Get published in a local magazine • Start setting innovative design trends
Start‐up Expense
Amount Paid
Office Space Rent Deposits Tenant Improvements Building Fees
$1580 p/month $1,000 $200
Utilities Deposits
$100
Office Equipment Furniture Computers AutoCad REVIT Architecture Adobe Creative Suite Windows 7 Professional Anit‐Virus Adobe Acrobat 9.0 Internet Copier/Printer Plotter
$30,000 $3,600 $1,375 $6,190 $2,400 $119 $134 $329 $40 p/month $11,998 $1,312
Samples/Catalogs
$200
Reference Books Office Supplies Design Supplies
$1,000 $1,000 $500
Advertisting/Marketing
$2,500
Professional Fees Business Insurance
$144.63 p/month $834 p/ month
Unaticipated Expenses
$1,000
Total
$67,564.63
Date Paid Notes Commercial Location Those not paid by landlord
Includes 4 desktops
2 year download $60 Installation charge
$1,735.50 p/year $10,000 p/year
On Going Expense
Amount Paid
Date Paid Notes
Office Space Rent Deposits Utilities Building Fees Telephone/Internet
Commercial Location $1580 p/month $200 p/month $50 p/month $60 p/month
Office Supplies Business Auto Equipment Maintenance
$75 p/month $42 p/month $100
Advertising Marketing
$200 $200
Credit card fees Loans‐principle Loans‐interest
$9 p/ month $834 $42
$100 p/ year $50,000 5 years 5% interest
Professional fees
$900
Laywer and Accountant
Express Charges
$50
Subscriptions/trade Educational Fees Professional Dues
$60 $50 $144.63 p/month
Payroll Health insurance Owner Salary
$6,920 month $150 $4,333 month
Petty cash allowence Miscellaneous
$100 $500
Total
$16,599
$500 p/ year
$45,000 yearly x 2 designers $52,000 yearly