Customizing cars to the owners' specifications takes technical, mechanical and artistic expertise. Starting a small customization shop requires you to incorporate business savvy into your list of other skills and abilities.
BOG seeks to fulfill the following benefits that are important to customers: Price- BOG operates on a low overhead model, allowing them to generate fair margins and competitive prices.
Customer Service- BOG recognizes that superior customer service is needed in order to gain market share and be competitive.
Market Trends The market trend for the gift basket industry has been one of consolidations and mergers with larger companies purchasing smaller local companies. This trend can be rationalized for several reasons: Economies of scale allows larger companies to generate better margins than small, local players.
This growth can in part be attributed to an increase in product offerings. For years the gift baskets from most of the larger companies were fairly utilitarian and plain; some people got fruit baskets, others got meat, cheese, and cracker baskets.
Many of the companies have tried to generate growth by offering a wider selection of baskets. Strengths Vendors who have local, high quality ingredients.
Artistic flair that provides BOG with basket appearances that are unmatched. Low overhead that provides excellent margins and flexibility in manufacturing. Weaknesses As a home-based start-up, if sales really spike it might be difficult to fulfill a large increase in orders.
Opportunities Participation in an industry that is generally quite steady in terms of sales. The ability to have a marginal decrease in the spread of fixed costs relative to each basket as sales increase.
The industry is attractive, in part, because of its simplicity, creating an incentive for new entrants into the market. Competition There are many different forms of competition in the gift basket business: Similar gift basket type retail stores- There are several of these stores located in Stevens.
These competitors offer a wide range of gift baskets, however, none of them are concentrating on the higher end, gourmet products lines. Bath product gift basket companies- There is currently one gift basket company that concentrates on bath products. Regional gift basket- There is one retailer that sells gift baskets composed of local products.
These types of baskets tend to appeal to people that are buying gifts for people that are not from this area. Candy gift baskets- There are a couple of candy stores that offer a candy gift basket as one of their products. Similar to the bath products basket, candy typically appeals to women a bit more than to men.
Once again flowers tend to appeal to women more so than men. Product Offering Basket of Goodies sells gift baskets that they put together themselves. BOG's theme for the baskets is gourmet. Their premier baskets are a smoked fish basket, a fruit basket, a pasta dinner basket, and a picnic basket that has caviar, crackers, fruit, and smoked fish.
BOG also offers a custom basket that allows customers to pick items from a list and BOG will assemble the basket with their custom ingredients. For the custom baskets, BOG will provide a list of options grouped into four different categories.PERSONALIZED BUSINESS GIFTS + AWARDS.
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