Yeti Cards & Gifts

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Gift Novelty Souvenir Shop Business Plan

Company Summary

Yeti Card & Gifts is a retail gift store specializing in cards, health and beauty products, novelty, candy, beverages, and Japanese products. Yeti currently has two locations, their current store located at the Wigman Hospital/Physician & Surgeons South Building, and a University Heights community store (opening soon) in the Madison Plaza in-between existing tenants Starbucks and Noah's Bagels.

2.1 Company Ownership

Yeti Cards & Gifts is a single member Ohio registered L.L.C. owned wholly by Dan Gordon.

2.2 Company History

Yeti was originally founded two years ago. The popularity of Yeti was quickly apparent and the business out-grew the location. The business soon moved into the Wigman Hospital/Physicians & Surgeons South Building to take advantage of the 1,144 square foot highly visible retail space. The Wigman location was chosen to leverage its high density of people. Wigman Hospital is Cuyahoga County's largest employer. On the east side of Yeti is The Case Western Reserve, the state's largest private university with over 20,933 students, faculty, and employee. The move to the Wigman building was also strategically timed to fill the vacancy of Jabberwocky Cards & Gifts which had just closed their doors.

Yeti is currently in the tenant improvement stage of opening their second store in University Heights. This 800 square foot store is located in the Madison Plaza in-between Starbucks and Noah's Bagel. This location was chosen because of the high traffic counts (1,800) and the close proximity to two nationally known tenants.

Past Performance
2000 2001 2002
Sales $72,554 $85,884 $100,212
Gross Margin $47,160 $55,825 $65,138
Gross Margin % 65.00% 65.00% 65.00%
Operating Expenses $62,554 $65,545 $68,778
Inventory Turnover 6.00 6.00 6.00
Balance Sheet
2000 2001 2002
Current Assets
Cash $10,225 $10,988 $12,363
Inventory $17,778 $15,554 $12,455
Other Current Assets $0 $0 $0
Total Current Assets $28,003 $26,542 $24,818
Long-term Assets
Long-term Assets $5,000 $5,000 $5,000
Accumulated Depreciation $2,751 $2,751 $2,751
Total Long-term Assets $2,249 $2,249 $2,249
Total Assets $30,252 $28,791 $27,067
Current Liabilities
Accounts Payable $3,254 $4,254 $4,001
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $3,254 $4,254 $4,001
Long-term Liabilities $20,000 $18,000 $15,000
Total Liabilities $23,254 $22,254 $19,001
Paid-in Capital $0 $0 $0
Retained Earnings $6,998 $6,537 $2,612
Earnings $0 $0 $5,454
Total Capital $6,998 $6,537 $8,066
Total Capital and Liabilities $30,252 $28,791 $27,067
Other Inputs
Payment Days 0 0 0