Binford Luthiery 1 Page Business Plan

guitars Business Plan

Binford Luthiery 1 Page Business Plan

Overview

Binford Luthiery has a clear business objective to produce custom guitar products and services. These products and services have been developed over 3 years with a core focus on addressing the key customer problem and associated opportunities.

The Business Objectives

As a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.

The Customer

Binford Luthiery has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as the desire for a quality instrument with personal involvement in its creation. This is a critical issue for our selected target market of musicians.

The Value Proposition

Binford Luthiery is uniquely positioned to deliver value to musicians. "Binford Luthiery will deliver an experience of instrument intimacy." In order to be deliver on this value proposition, we involve the customer in every step of the building process. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.

Competitors

We have a number of competitors within the guitars market. We consider our key competitors to be: Paddy burgen, rod capper, Laurie Williams, goldbeard guitars, summit school of guitar building and repair. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Paddy burgen, rod capper, Laurie Williams, goldbeard guitars, summit school of guitar building and repair by spending quality time with customers to create a high quality instrument in an attractive tourist setting.

Key Strategies

Over the next 6 months our focus will be to increase visibility by displaying finished guitars in music stores and building a guitar for a prominent musician.

. This task will be undertaken in the context of our broader strategy to roll out a guitar building school and workshop based I'm Queenstown. These strategies are a tactical implementation of our overall business goal as outlined above.

Milestones

Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: teach 20 people to build their own guitar, sell 5 custom guitars, and launch from a new facility in Queenstown

About this document
guitars Business Plan
This document was created by Trevor of Binford Luthiery using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.

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