The furniture broker is well-financed and uses extensive advertising
campaign. They offer a large array of mass produced accessories for sale from
it’s retail floor. · 2 years in business · 3 sales persons, 2 warehouse persons,
area delivery Runge Furniture Co. - 303 E. Spokane Ave., Coeur d’Alene, ID A
large store that has a good reputation and has been in the area for many years.
They offer all home furniture, of all hardwood types and are priced high for the
market. They only carry expensive, well known makers of furniture. Their staff
is friendly and knowledgeable. · 43 years in business · 3 sales persons, 1
warehouse person, area delivery MARKETING STRATEGIES Being a new store the
primary plan is to have a grand opening sale, lasting 9 days (over two
weekends). Advertising will be through the local newspaper, flyers will be sent
out to all new home buyers within the last 6 months, renting of a balloon for
location exposure, having a clown on the first two weekends and to give away one
bedroom set as prize for visiting the new Oak Furniture Warehouse. Ongoing
advertising will be shared with the Spokane stores, which consists of Yellow
Pages advertising, newspaper advertisements, television and radio advertising
and direct mailings to preferred customers. Advertising will be based on 4.0% of
total sales for the first year of business then cut back to 3.0% of total sales
for the second and ongoing years of operation (which is slightly above the
industry standard). Lastly, Oak Furniture Warehouse will rely on the ongoing
support and positive recommendations of it’s satisfied customers. Past
experience has proven that many customers come on the recommendations of others.
DESCRIPTION OF LOCATION Oak Furniture Warehouse will be located Northwest
corner at the intersection of Hwy. 95 North and Prairie Ave. This is on the main
thoroughfare between Coeur d’Alene and Hayden Lake and Sandpoint to the North.
The location will be advantageous because: · The business is both easy to locate
and accessible to a number of newly developed areas and existing upscale
communities. · High volumes of traffic driving by the business will increase the
chances that new customers will spot the store and stop to shop. · Active
shoppers will see the advertisement in the Yellow Pages and recognize the
familiar location immediately. · Plentiful parking at the nearby Albertsons,
Cinima Complex and retail complex will draw volumes of customers. Oak Furniture
Warehouse has first option pending on a lease option. This would be a three year
lease for a 11,300 sq. ft. building at a cost of $3850.00 per month. This would
be slightly larger than the two Spokane stores but would be ideal for the high
volume seasons. DESCRIPTION OF MANAGEMENT Dean W. Spratt, Owner and General
Manager of Oak Furniture Warehouse, will manage all aspects of the business.
Dean’s background includes an education at the University of Idaho with a major
in Electrical Engineering and a minor in business management, twelve years
experience in managing projects and businesses and start-ups. He has worked for
the last two years as a General Manager of the valley Oak Furniture Warehouse
store and has acquired the following relevant experience: · Business and
personnel management. · Marketing and promotional experience. · Wide base of
distributor contacts. · Shipping and receiving experience.
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