starting your own business
Phase 4 Individual Project
Business Plan Proposal
MFMT235-1501A-02
By: Stefanie Habermehl
Date: 02/01/2015
Barrels of Plenty Proposal Plan The business I am proposing is named Barrels of Plenty. The prime purpose of this business is to create unique furniture pieces out of repurposed and reclaimed authentic Kentucky bourbon Barrels. Each barrel is made from white oak and charred to perfect taste of the bourbon. The barrels are only used once in compliance with the law. Barrels of Plenty will offer a wide selection of furnishings and accessories. Items will include; whiskey barrel sinks, pool stick holders, half barrel and whole barrels coolers, barrel head sconces with various lighting options, lacquered whole barrels with or without brand labels, half barrel planters, barrel stave candle holders, and also 5 quart barrels that can be made into planters or penny banks. Every piece is hand crafted, hand sanded, and lacquered for a perfect finish. We will offer custom ordering on labeling, finishes, as well as meeting the needs of customer ideas and special request. We want to attract many different types of customers. These items are so versatile that they can be used in luxurious, modern, or country style homes. These handcrafted items would be great in man caves, game rooms, bar areas, and bathrooms. As a business we want to exceed the expectations of our customer’s needs and offer the products of the greatest quality. This business will also allow us to offer a valuable part of Kentucky’s history into our customer’s homes. I have chosen a Limited Liability Company (LLC) as the entity of my business. I chose this type of business entity for all of its advantages. Limited Liability Companies get the best of a partnership and a corporation. Like a partnership, members can enjoy the benefits of receiving profits in excess of their individual ownership percentage. This entity allows for an unlimited amount of members (owners). Although a LLC
Business Plan Proposal
MFMT235-1501A-02
By: Stefanie Habermehl
Date: 02/01/2015
Barrels of Plenty Proposal Plan The business I am proposing is named Barrels of Plenty. The prime purpose of this business is to create unique furniture pieces out of repurposed and reclaimed authentic Kentucky bourbon Barrels. Each barrel is made from white oak and charred to perfect taste of the bourbon. The barrels are only used once in compliance with the law. Barrels of Plenty will offer a wide selection of furnishings and accessories. Items will include; whiskey barrel sinks, pool stick holders, half barrel and whole barrels coolers, barrel head sconces with various lighting options, lacquered whole barrels with or without brand labels, half barrel planters, barrel stave candle holders, and also 5 quart barrels that can be made into planters or penny banks. Every piece is hand crafted, hand sanded, and lacquered for a perfect finish. We will offer custom ordering on labeling, finishes, as well as meeting the needs of customer ideas and special request. We want to attract many different types of customers. These items are so versatile that they can be used in luxurious, modern, or country style homes. These handcrafted items would be great in man caves, game rooms, bar areas, and bathrooms. As a business we want to exceed the expectations of our customer’s needs and offer the products of the greatest quality. This business will also allow us to offer a valuable part of Kentucky’s history into our customer’s homes. I have chosen a Limited Liability Company (LLC) as the entity of my business. I chose this type of business entity for all of its advantages. Limited Liability Companies get the best of a partnership and a corporation. Like a partnership, members can enjoy the benefits of receiving profits in excess of their individual ownership percentage. This entity allows for an unlimited amount of members (owners). Although a LLC
References: Meier, D. (2003, July 20). Pros and Cons of the LLC Model. Retrieved from Entrepreneur.com: http://www.entrepreneur.com/article/63388 My LLC Operating Agreement. (n.d.). Retrieved from Law Depot: http://www.lawdepot.com/contracts/llc-operating-agreement/preview.aspx PLLC., W. &. (2014). Starting a Business In Kentucky Task List. Retrieved from Wolfe & Houlehan Attorneys at Law: http://www.lexingtonkylawfirm.com/business-services/company-startup/starting-a-business-task-list/ Printable Contracts. (n.d.). Retrieved from printablecontracts.com: http://www.printablecontracts.com/click2.php Pros and Cons of a Limited Liability Company (LLC). (n.d.). Retrieved from allbusiness.com: http://www.allbusiness.com/business-planning/business-structures-limited-liability/2517-1.html