Regali Luxuri is a privately owned specialty gift boutique located in the community of Treschicburg. The principal owners are Bensai Halstadt and Kaethe Villanova. Regali Luxuri specializes in a variety of unique merchandise ranging from specialty cards and personalized printing services to specialty handcrafted gifts and customized apparel.
What started out as a hobby for us soon evolved into a promising business venture. After meeting through a mutual friend we realized that we shared interests and a similar hobby. When Kaethe Villanova purchased a personal computer we began designing greeting cards, custom T-shirts and business cards for loved ones, free of charge. We used our own money to produce these products. Family and friends soon became very interested in actually purchasing these items. After a while we had built a clientele base that eventually branched out to several cities by word-of-mouth.
Over the years, we have invested our time and money to conduct the necessary primary market research by marketing new merchandise to the public which resulted in tremendous interest and responses.
Three years ago we relocated to Treschicburg where another clientele base was established. By testing our products, we realized that our target market consisted primarily of women; of ages ranging from 25 to 55; Business Entrepreneurs and Business Professionals. Next we started visualizing the possibility of having more than just a home-based business but perhaps a store front. That possibility didn’t culminate until Bensai Halstadt located and secured space in a newly developed Luxury Residential/Retail Community in west midtown in January of last year. Twelve of the residential lofts apartments are 2-level live/work space units where tenants who maintain home-based businesses could utilize the space as their store front. It was more than what they had imagined. Although both owners have diverse backgrounds, Bensai Halstadt, a design engineer, and Kaethe Villanova, a surgical technologist, both are very creative, crafty and ambitious.
Regali Luxuri is located at 1234 Greenfern Boulevard, in the warehouse district of west midtown in Treschicburg. The area is in its beginning stages of gentrification. The gift shop is located in a newly developed Residential/Retail Community named Wensleydale. There are approximately 12 live/work space units that are dedicated to tenants/entrepreneurs and two sizeable retail spaces available for more established businesses. The two-level unit that the owners occupy has a total square footage of 1,800 with the lower level store front space occupying 800 square feet. The owners are leasing the total space at $1,610 per month.
Of the 12 live/work store fronts, over half have been occupied and are fully operating. These businesses include: a convenience/beer and wine store; a dry cleaners; a hospice; a children’s story-book store; a music production company; and a spa. What is sure to increase visibility and business traffic to the area is the opening of an established upscale restaurant in early fall which will occupy one of the larger retail spaces.
Regali Luxuri is approximately 15 minutes from the Treschicburg Airport and is less than 10 minutes away from the intesection of the two Interstate Highways. Local street access is convenient. Ample parking is available to prospective customers along with other shopping conveniences. The shop is also within 5-10 miles of several universities.
2.1 Company Ownership
Regali Luxuri is owned and operated by Bensai Halstadt and Kaethe Villanova who are equally involved in the operation and management of the company. In August of last year, the business became incorporated and is structured as a privately owned “S” Corporation.
2.2 Start-up Summary
These figures are based on monthly and start-up expenses needed to open and functionally operate the gift store. The capital needed will come from both owner’s personal finances.
Purchase of an additional computer, POS system, additional high-quality printing equipment and software is allowed by the IRS as a Start-up Expense instead of as Long-term assets.
Long-term assets include a larger multi-function fabric press or use in customizing garments.
Additional start-up inventory of gift items for stocking display shelves in the store are included as assets to be purchased.
Other Current Assets include the computer, supplies, and inventory the owners had accumulated while pursuing this business as a hobby.
|Utilities and Internet||$375|
|Decorating and Remodeling||$5,690|
|Licenses and Permits||$200|
|Grand Opening Ads and Promos||$1,335|
|Total Start-up Expenses||$17,080|
|Other Current Assets||$3,000|