Our First Business Plan
Elements of a Business Plan
A. Executive summary
Quynza Jewels is a luxury jewelry atelier that creates unique jewelry pieces for unique beings. Our high-end pieces use sustainably sourced materials. Our 30+ years in the emerald trade business and 20+ years in jewelry design bring together two generations of love for the craft. Highlighting the Colombian emeralds' mystique, semi-precious stones, and an indigenous alloy called Tumbaga; made with 24k gold and purified copper. It stores and transmits spiritual energy and emotions. Each collection is numbered and can be semi-personalized. Our offerings range from a rings to a headpieces, and feature unique interchangeable designs in two very different styles.
B. Company description
Name: Quynza /kɨntsa/ means hummingbird in Muisca; language of the indigenous people for emerald region in Colombia. Mayan legend says Gods created all things on Earth. According to Mayan legend, the gods created all things on Earth and entrusted each animal, tree, and stone with a job. But when they had finished creation, they noticed that there was no one in charge of taking their wishes and thoughts from one place to another. Since they no longer had mud or corn to make another animal, they took a jade stone and carved a tiny arrow with it. When it was ready, they blew on it and the little arrow flew out. It was no longer a simple arrow. Now it has life. The gods had created the x ts'unu'um, the hummingbird, also known as Quynza in the Muisca language, belonging to the indigenous tribe that lived in the area where our emeralds are mined. The Gods also assigned him a job: the hummingbird would have to carry the thoughts of men from here to there. If you see a hummingbird, it means that someone is sending you good wishes and love.
Ownership : Our partnership is designed to provide a fair and equitable distribution of profits. Each side will invest both materials and manpower into the business. All external costs such as taxes and third parties fees will be paid by the business. To ensure fairness, once a piece is sold, we will pay all direct costs, a percentage of the manpower long-term payment plan agreed on, and then divide the utilities by 50%.
Legal structure: Our venture will operate as an LLC in Florida, offering liability protection, management flexibility, and pass-through taxation. As an online jewelry business, we'll establish an "economic nexus" across states, including Florida, to collect sales taxes where sales thresholds are met. This proactive approach preserves legal integrity and supports state revenue systems.
Overview of the business idea:
- Why With the intention of paying homage to our families tradition in the emerald business and the land that witnessed our birth and nurtured our essence, this verdant gemstone, imbued with profound significance, has guided us towards a shared purpose. Through each meticulously crafted jewel and curated experience, we aspire to bestow upon you our cherished heritage..
- Experience: Maureen's family has a mine in the emerald zone of Colombia, an emerald cutting office at the Emerald Trade Center in Bogotá, and 30 years of experience in the market. Dorotea's family has 20 years of experience in jewelry design and a team of expert jewelers. Korebajú artisans from an indigenous community in the Colombian Amazon.
The problem we solve: The service we offer: We create unique, high-quality, sustainable, and semi-personalized jewels.
C. Product:
Offering
We not only present exquisite jewelry but extend a comprehensive experience that transcends mere pieces, as we share the profound ancestral wisdom bestowed upon us innately through the lineage of our grandparents or? The study of ancient world ancient traditions. Our approach seamlessly integrates age-old traditions with contemporary elements, culminating in one-of-a-kind creations.
Products
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Personalized numbered collections.
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Unique hand-made pieces by indigenous artisans.
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Unique indigenous alloys.
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Unique and personalized engagement ring.
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Bridal accessories: a headpieces or garter belts.
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Unique pieces with high symbolic energy for personal or gift giving.
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Sustainable and traceable materials
Services
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Bride and Groom consultative jewelry suggestion pieces ideas.
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Non-bridal jewelry design collaboration.
Location
Our platform website is the nexus of global trade and our primary virtual presence, through an e-commerce system, also serving as a payment gateway.
Our hallmark lies in the realm of customization. Through immersive video conferencing, patrons engage directly with our artisans, witnessing the transformation of concepts into tangible masterpieces If non-customized / standardized design is needed, there is a chat engagement functionality available.
One-on-one consultations are available on line. In addition, our web page, email, and phone services also serve as opportunities to initiate communication and collaboration.
Packaging
We offer three unique packaging:
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The first is a recycled natural cloth that wraps our pieces in an origami-like structure, secured by cumare thread, and woven by women in a Korebaju indigenous community in the Colombian Amazon.
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The second a Iraca palm-woven canasto, a traditional wickerwork container, in different colorful and unique patterns.
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The third, a wooden box. The box lid is inlaid with different colored wood with natural motifs created by artisans from the region of Pasto in the south of our country.
Delivery logistics
Our products start their journey in our offices in the Emerald Trade Building in Bogotá.
We offer two options: the first is eco-friendly and is shipped at the end of the month through Parcel Pro, a UPS company that offers reliable transport with insurance to guarantee accountability. The second option is custom delivery by the same company, sent the moment the piece is ready and will be shipped to its destination.
Our consultative services:
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The first 20 minutes are free, and the will be to decide the best product option.
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There will be three options: short-, medium-, and long-term consulting.
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The short-term option, we help you can mix and match a selection from our ready-made opinions.
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The medium-term option allows you to customize parts of our numbered pieces.
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The long-term option, allows participation in the process, which
includes meeting the artisans involved in the co-creation of your piece.
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Pricing
For pricing strategy consider the following:
-Holidays and important dates in the United States. According to these dates we will have special sets and prices as part of our marketing strategy.
- There will be special promotional prices offered as part of our marketing strategy.
-Additional promotional offer 5 or more pieces will result in a free basic consultancy session, based on the customer’s topic preference.
D. Market and Competitive Analysis (Analysis by Grand View Research)
"The global jewelry market size was valued at USD 340.69 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. Increasing disposable income and innovative jewelry designs offered by manufacturers are expected to drive product demand. Changing lifestyles and perceptions of jewelry as a status symbol are expected to boost growth. COVID-19 has had a positive effect on jewelry sales, with 30% of consumers in a recent poll reporting they purchased more jewelry during the pandemic, according to a study from the supplier group the Plumb Club. The survey entitled “The Plumb Club Industry & Market Insights 2021,” also noticed that 49% of consumers bought as much jewelry as they always did, while 21% purchased less."
Target market profile and segments and sub-segments
Target Audience: Affluent, eco-conscious individuals, art enthusiasts, and seeking unique, personalized jewelry.
Value-driven: They are willing to pay a premium not just for the product, but for the story, sustainability, craftsmanship, and cultural significance. In addition, they are sustainability-focused, and seek out and prioritize businesses that are eco-friendly and ethically sound.
Cultural appreciation: They have an interest in unique materials and designs, especially with historical and cultural significance like Tumbaga and Colombian emeralds.
Seek uniqueness: Prefers personalized or semi-personalized items over mass-produced ones.
Collectors´ mindset: Values limited edition or numbered pieces due to their exclusivity.
Are likely travels for leisure with a global mindset. Might appreciate crafts and materials from various cultures.And follows high-end fashion trends, reads luxury magazines, and possibly attends luxury or jewelry-related events or trade shows.
Demographics
Age: Likely between 30 and 60. This includes the tail end of Gen X and the older portion of Millennials, both of whom have higher purchasing power and are reaching or are in the stage of their life where luxury purchases are feasible.
Gender: While jewelry is traditionally associated with women, high-end jewelry for men is also a growing market. However, depending on your product range, we may lean, towards a gender neutral audience.
Income: Upper-middle class to high-income bracket. They have the disposable income to invest in luxury items.
Education: Highly educated, possibly with tertiary degrees or higher. Education often correlates with appreciation for sustainability, craftsmanship, and cultural significance.
Psychographics
Status and Prestige: Place a high value on brand recognition and luxury heritage.
Exclusivity: Seek high-quality, limited-edition pieces that convey exclusivity.
Ideal customer: Affluent Millennials and Gen X: They are more inclined towards luxury brands that have a history and offer sustainable products.
Eco-conscious Consumers: Luxury buyers who prioritize sustainability and ethically sourced materials.
Cultural and History Enthusiasts: Individuals who appreciate the cultural significance of Tumbaga and Colombian emeralds.
Collectors: Since each collection is numbered, it may appeal to luxury jewelry collectors.
Potential Competitors
Given the unique positioning of Quynza Jewels, here are some high-end jewelry brands that might be in a similar space:
Ana Khouri: A designer known for her unique pieces and commitment to sustainability.
Boucheron: Known for their luxury jewelry and watches. They also emphasize craftsmanship and history.
Bvlgari: Their unique designs and emphasis on luxury and craftsmanship could make them a competitor.
Cartier: A renowned name in the world of luxury jewelry. Their emphasis on craftsmanship and heritage might appeal to a similar audience.
Dior: The harmonious fusion of luxury and eco-consciousness, celebrating nature's beauty in every thread. Where Elegance Meets Nature.
Chopard: They've taken initiatives towards sustainable luxury, making them a competitor in the eco-conscious luxury space.
Khiry: Bold and culturally inspired jewelry brand redefining modern elegance through distinctive designs and a celebration of heritage.
Graff: Since Laurence Graff OBE established our company in London in 1960, his fascination with the emotional power of gemstones has transformed Graff into a global hallmark of innovation, creativity and craftsmanship.
Harry Winton: Born in England. Opened his first shop in 535 Fifth Avenue New York in 1920 after working at his father's jewellery shop.
Hermes: French luxury design house established in 1837 by Thierry Hermès. The house is known for exquisite craftsmanship, iconic accessories, and timeless sophistication.
HStern: Brazilian luxury jewelry house founded in 1945 by German-Jewish immigrant Hans Stern. Initially specialized in precious stones before moving to design focused jewelry.
Ileana Makri: Distinctive jewelry brand celebrated for its unique blend of intricate craftsmanship, cultural influences, and modern elegance.
John Hardy: Emphasizes traditional techniques and sustainability, which might appeal to a similar demographic.
Jenna Blake: Contemporary fashion brand known for its eclectic style, versatile designs, and emphasis on self-expression.
Mikimoto: Renowned luxury brand, synonymous with the finest cultured pearls, jewelry innovation, and elegant beauty.
Retrouvai: Artistic jewelry brand celebrated for its imaginative designs, vibrant symbolism, and fusion of vintage charm with modern sensibilities.
Sauer: Esteemed Brazilian jewelry brand recognized for its unparalleled craftsmanship, exceptional gemstones, and legacy of creating exquisite, heirloom-quality pieces.
Swarovski: Iconic crystal and jewelry brand, renowned worldwide for its exquisite craftsmanship, brilliant sparkle, and timeless elegance.
Sylva & Cie: Distinguished jewelry brand known for its intricate, vintage-inspired creations, blending opulence with a sense of timelessness.
Van Cleef & Arpels: Known for their craftsmanship and unique designs.
E. Marketing Plan
1. Creation of content, photos, and videos on social media.
2. Brand recognition through social media and a website
3. POP UP" messaging for a 10% discount on the website on the first purchase(find a different strategy to build data base) .
4. Wix marketing platform for ad campaigns and through Facebook Ads with a monthly budget
5. e-mail blast with the entire purchase journey up to the destination.
6. E-blast to our database, offering new collections and directing them to the website.
Objectives/Goals
Grow at a natural rate with the resources currently available.
Create a launch campaign with galleries or other mortar and brick options in Atlanta, New York and Miami
Use quantity and timing to measure success
• Quantity
• Decide what can be sold and what pricing is needed to support the plan
• Is there a product mix to be achieved?
• Timing • By what date?
Marketing and Sales Activities to support the target
Market Dynamics: The luxury jewelry market is growing, with a shift towards online sales and a focus on unique, quality pieces.
Target Audience: Affluent, eco-conscious individuals, art enthusiasts, and younger generations seeking personalized jewelry.
Competitive Edge: Emphasis on sustainability, community ¿impact? Define 10% How?, and distinctive design.
Market Trends: Customization, online shopping, experiential retail, and cultural influences.
Pricing Strategy: Cost-based, value-based, competitive, and psychological pricing, with a focus on transparency and market feedback.
Perceived Value: Value-based pricing reflecting the brand's sustainable and unique offerings.
Diverse Offerings: Tiered pricing for different product ranges and a premium for customization.
Transparency: Clear communication on ethical sourcing and sustainability to justify prices.
Craftsmanship & Heritage: Many luxury brands emphasize their history and craftsmanship, but Quynza's two generations in the emerald trade and jewelry design give it a unique, familial touch. This narrative can be leveraged to create an emotional connection with customers.
Sustainability: While some brands have taken steps towards sustainable luxury, Quynza's commitment to sustainably sourced materials can be emphasized as a significant differentiator, especially for eco-conscious buyers.
Unique Materials: The use of Tumbaga, an indigenous alloy made with 24k gold and purified copper, is unique. While other brands might use gold or platinum, Tumbaga's property of storing and transmitting spiritual energy can be a significant talking point, attracting both cultural enthusiasts and those into spirituality.
Focus on Colombian Emeralds: While other brands may also use emeralds, your deep-rooted connection to the Colombian emerald trade can be leveraged to emphasize authenticity and direct sourcing, setting you apart from others.
Personalization: While other luxury brands also offer personalization, the fact that Quynza's offerings are both personalized and semi-personalized offers a wider range for customization. This can be positioned as Quynza being more attuned to the customer's individual needs.
Exclusivity: The fact that each collection is numbered can create a sense of rarity and exclusivity. If positioned correctly, this can create urgency and a feeling of being part of a select group for customers.
Broad Product Range: From rings to headpieces, and with unique interchangeable designs, your range might be broader than some specialized brands. This can be an attraction for those looking for varied designs.
Cultural Significance: Emphasizing the cultural relevance and story behind materials like Tumbaga and Colombian emeralds can make your jewelry pieces more than just accessories—they become conversation pieces and symbols of rich heritage.
Branding
Logo
F. Management experience
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G. Financial plan
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H. Appendix
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