BUSINESS DESCRIPTION Oak Furniture Warehouse, is a furniture store
specializing in the selling of furnishings constructed hardwoods, the bulk of
which will be oak, to Coeur d’Alene area customers. The store will be a show
floor/warehouse, with 85 percent of the available space open to the customers.
The merchandise has been carefully selected to be affordable to the majority of
consumers along with higher line items for upgrades and future purchases. Oak
Furniture Warehouse, plans to open for business during January, 2000. The store
will be open Monday thru Friday, from 10:00 am till 8:00 pm and Saturday, from
10:00 am till 6:00 pm. · In the strong and stable furniture sales market, Oak
Furniture Warehouse will stand out as a leader in customer service and quality
craftsmanship. · A strong customer focus, an accessible location and a broad
product line will enable the establishment to slowly and steadily develop a
loyal customer base. The retail demand for home and office furnishings is
seasonal and business in Coeur d’Alene fluctuates according to the seasons.
Primarily, the Oak Furniture Warehouse, will attract business during seasonally
slow months through a comprehensive marketing and promotional strategy to
generate additional revenues in these slack periods. Secondly, by directing
attention to the business and home office markets, which budget more on a fiscal
basis.
Finally, there is no direct competition in the area giving The Oak Furniture
Warehouse an advantage in the lack of competition. MARKET PROFILE Oak Furniture
Warehouse, will provide quality, competitively priced specialty furniture not
yet available from a single source in the Coeur d’Alene metro area. The goal is
to sell solid, well built furniture through a knowledgeable and professional
sales staff in an inviting atmosphere, that will encourage customers to return
to the Oak Furniture Warehouse for all their home furniture needs. ¨ The well
crafted quality of our product. ¨ The affordable pricing and group discounts. ¨
Convenience of a local location. ¨ Our convenient location, where ample parking
is available. ¨ Word of mouth advertising from past customers. CUSTOMER PROFILE
The 4 major categories of customers are: ¨ First time buyers, recently out on
their own ¨ Young families - renting or purchasing a home ¨ Families updating
their existing furnishings ¨ General population fulfilling a need for furniture
Younger family being our largest market target. According to research
(Washington State Business Journal, 1990 US Census, and area statistics) the
target customer for home furnishings is as follows: ¨ Educated female ¨ Twenty
two to thirty two years old ¨ Lives with her family in a home ¨ Family income of
$30,000 to $45,000. Experience has shown that on the average, customers are
ready to update their furniture every six years and this would translate into a
stable source of future sales. DESCRIPTION OF COMPETITION Black Canyon Oak
Originals - 901 N. 3rd, Coeur d’Alene, ID A high end, specialized furniture
store with limited floor space and inventory. Targets the more affluent
homeowners and resort area tastes. · 4 years in business · 3 sales persons, 1
warehouse person no delivery The Furniture Broker - 609 W. Appleway, Coeur
d’Alene, ID A large franchise furniture showroom specializing in upholstered
lower quality furniture located north central Coeur d’Alene.
