The Art Sentry
The Art Sentry’s competitive edge is based on the extensive skill and industry knowledge that Dan possesses. This is very specific knowledge that few people have. This skill set allows The Art Sentry to provide superior services relative to the other service providers.
6.1 Marketing Strategy
The marketing goal will be to raise visibility and awareness of The Art Sentry with the prospective target segments. The Art Sentry will use a Yellow Pages ad as people turn to them when they are looking for a listing of different service providers.
Another marketing strategy will be word-of-mouth referral. Initially this will be started through networking efforts based on personal relationships that Dan has formed at the Portland Art Museum and local small galleries. Once the Museum begins to refer prospective clients to Dan, business will grow as those initial customers will also begin to make referrals. Art aficionados are not a huge group of the population but it is reasonable to presume that people that collect art have similar minded friends that also collect art.
These grass root efforts of word of mouth referrals will take a bit of time to develop, but will provide The Art Sentry with a sufficient flow of customers.
6.2 Sales Strategy
The sales strategy will be be based on communicating The Art Sentry’s competitive edge of professional experience that is generally unmatched in the industry. This high level of experience will be more than sufficient to turn the prospective customer/ information seeker into a long term customer and cheerleader for The Art Sentry.
6.2.1 Sales Forecast
The sales for the first several months will be slow. It is expected that it will take some time to build up sufficient business, especially in light of the fact that The Art Sentry is using primarily grass root methods of marketing. Business will begin to reach decent sales activity by month five, and grow steadily after that. Profitability is forecasted to occur fairly quickly, but is a function of the fact that the overhead is low, as The Art Sentry is a home-based business. Revenues will reach $64,000 by the end of year three.
The Art Sentry will have several milestones early on:
- Business plan completion. This will be an indispensable tool for the ongoing performance and improvement of the company.
- Office set and equipment acquisition.
- Reaching profitability.