2020BusinessPlan PREPARED BY Jacqueline Dantier + Laszlo Balogh +447739575051 [email protected] www.dantierandbalogh.com
CONTENTS 01 Executive Summary 04 USP focus 07 Management Operations
02 03 Company Profile Market Analysis Products & Services 06 05 Financial Strategy Marketing Plan
01 EXECUTIVE SUMMARY
Business Summary Dantier+Balogh is an interior design & branding agency that sets out to offer hospitality businesses a helping hand when it comes to their look and feel –so they can offer exciting, and unique customer experience within their business. We operate from Hertfordshire and idealise our initial customer base as London-based businesses, bearing in mind that the UK landscape is developing and other cities are aiming to become just as entrepreneurial as the capital city; places like, Bristol, Manchester, Edinburgh or Dublin for example. Dantier and Balogh are the founding partners’ last names – it is common practice to name a business after its founders within the field of interior design – giving out clues on the nature of the business to the public. Both are unique words and a word combination which search engines can easily identify, and put the business up as its first results when potential customers are looking for the business online. We aim to set up our business as a limited company. We do this in order to legally, and financially separate the company from us- the people who run it, and so we can keep any profit the business makes after taxation.
TO PRODUCE FUNCTIONAL YET FUN TO CREATE A COMPANY BRAND IDENTITY ENVIRONMENTS THAT BUILDS A PRESENCE AMONGST One of our main aims is to produce functional, SOCIAL PLATFORMS durable projects that projects that end-users In order to become well known, it is imperitive to are able to adopt with ease. However we will push our marketing via social media platforms. also implement an element of fun to create Having a presence online, not only attracts potential unique, memorable experiences.Almost clients, but also establishes a sense of trust. We explore this in detail within the marketing plan. adopting a form follows function philosophy. BY THE END OF 2020, REACH AN ANNUAL TO PROVIDE CLIENTS WITH IMPECABLE TURNOVER OF £130,000 SERVICE, THAT CREATES A COMPELLING With the pricing strategy in place and an BRAND CHARACTER + ATMOSPHERE estimation of 6 complete projects, spanning six weeks each for the year 2020, we are Our intention at D+B is to honour our promise of on track to reach this turnover forecast. providing a detailed design project that meets expectations and standards. We will provide unique, novel concepts that develop new + existing businesses- whatever their shape or size. IMPLEMENT A 40% USAGE OF ENFORCE + EMBRACE CULTUAL IDENTITY SUSTAINABLE MATERIALS IN ALL WITHIN PROJECTS. PROJECTS In times of heightened discrimination, it is deeply important for us to celebrate different cultures As consumers become more environmentally and the diverse society we live in. Therefore we aim and socially aware about the choices they for each project to feature a cultural aspect, that make, we are too. By the end of 2020, we highlights the brand / client. We will do this in the hope to increase this percentage as we go into 2021. This will depend on availability of B U S I Nhope to make the industry more globally aware. sustainable products, trends and materials.
Financial Summary FINANCIAL SUMMARY Our main financial goal for 2020, is to produce an annual turnover of £130,400 with a net profit of £38,132.40 (as shown and calculated within the financial plan). In order for business operations to commence, a small amount of our savings and current income will be invested in order to cover expenses (amounts shown in financial plan). Once the studio starts producing real-time services to clients and gaining sales, this revenue will be used to cover expenses and operating costs, as well as additional income. N E S S2A0I M2S0
02 COMPANY PROFILE
Synopsis Dantier + Balogh is a multimodal design studio based in London, Hertfordshire and Cornwall that specialises in hospitality, residential and brand experience design. We are a passionate design team who believe that the synergy between branding and interiors, is what truly makes a client’s business thrive. We provide unique, novel concepts that develop new + existing businesses- whatever their shape or size. Our main goal is to create functional environments for clients with a variety of needs that are also fun, distinctive and most importantly memorable.
About Us Dantier + Balogh is led by collective Laszlo Jacqueline Dantier and Laszlo Balogh. graph The pair have collaborated together workin on an expanse of design projects, as an ever since they met whilst studying at himse university. Possessing a rather mixed visual cultural heritage themselves - British, final p Hungarian + Mauritian - the pair celebrate his e different cultures and encourage a strong design use of cultural-identity in their projects. create ORIGINS Whilst carrying on the motif of culture, their love for gastronomy and food trends, ultimately inspires and guides their own expertise in design- culminating in bold + fresh design concepts.
Y UM ! After graduating from Falmouth University, in interior architecture and design, Jacqueline Dantier co-founded the design studio. With previous experience working in hospitality, she understands the collective needs of clients, customers & employees. Jacqueline gets her vivid inspiration from her thirst of knowledge for different cultures and worldviews, that influence her final design solutions. o Balogh, MA is an award-winning hic designer and illustrator. After ng in the world of advertising n art director, he familiarised elf with the entire process of l branding, from initial concept to polished outcome. He combines expertise in illustration, graphic n and conceptual creativity, to e an overall branding solution.
NewquayAt the start of the business’sHertfordshire launch, we will be operating out of 3 key areas: our home counties- Cornwall and Hertfordshire, as well as London, the captial. As we are already familiar with the communities in Cornwall and Hertfordshire, it is logical to base ourselves here, in order to penetrate local smaller businesses. Additonally, London acts as the prominent financial & design hub within the UK, which makes it both a location for inspiration and constant property development. The business (being digitally versatile) will operate from a home office base in the beginning and is expected to remain in this structure through at least the first two years. However, meeting rooms/ shared office spaces in London will be hired, as and when appropriate. W H E R EAWR EE
London EE L O C A T E D
PRODUCTS BRAND EXPERIENCES HOSPIT RESIDENTIAL S PA C E
+ SERVICES We provide a complete interior design service encasing each and every aspect of a clients project. Our design offer always considers the site, the brand, the staff and most importantly the user and their experience. The 3 areas that we are set to cover, are stated on the left: the main choice for the areas is based on our experience in these sectors. Whatever the nature of the hospitality venue - whether clients need a rebrand, or are starting an enterprise from scratch- carefully considered, professional design can have an improving effect on any given business’s customer experience. Experiential ways of marketing, like brand experiences, can incorporate interior design at its core - a unique installation, or a stylish pop-up store will welcome more ALITY visitors from the street than one could imagine! Lastly, creating residential design allows us to incorporate client’s unique tastes and styles, that will take their home to the next level, incorporating new, exciting and innovative ways to represent them and their families.
Specifically, the different types of projects we cover in hospitality are shown on the left. The design studio strategically examines the brand and as a result conjures both interior and branding concepts. We do this to propel the brand’s current position, as well as their future. The business acts as a core service- offering both interior and branding solutions- or both if desired or requested. We transform a variety of spaces; from empty shells to existing buildings. In order to do so, the design studio executes specific elements, in order to provide clients with an overall completed scheme (shown on right).
Client Consultation + Art Direction understanding clients Brand Identity Graphics + bespoke needs Site visit + analysis artwork Concept Design Logo creation / development 2D CAD plans Space Programming Signage 3D visualisations + Menu design Packaging + stationery walkthroughs Website generation Technical Details UX/ UI design Fuerqnuitiuprme,efnixttpuarecsk + Motion graphics Material specification Social Media content Tendering creation On-msitaenCaogenmsteruncttion Post Completion works
OUR BELIEFS Sustainabilty Dantier+Balogh recognises its responsibility to promote the sustainable use of the world’s valuable natural resources and it understands the impacts that it could have upon the environment during the course of carrying out its work. We aim to follow and to promote good sustainability practice, to reduce the environmental impacts of all our activities and to help our clients to do the same. Equality STATEMENTS Dantier + Balogh has been founded by an international team - therefore it is extremely important to us that we do not discriminate anyone associated with us in any way, including but not limited to race, gender, religion, age, or sexual orientation. At Dantier+Balogh we are committed to treating all our employees fairly, equally and free from any unfair discrimination. Modern Slavery Act As a business we adhere to clear values including mutual respect, equality and justice for all people. We believe that modern slavery or any kind of forced or involuntary labour is unacceptable. Dantier+Balogh has a zero-tolerance approach to slavery and human trafficking in any shape or form - we hold ourselves to the highest ethical standards and expect the same from anyone associated with us. Privacy policy (GDPR) At Dantier + Balogh, we are committed to maintaining the trust and confidence of our customers and associates. In particular, we want you to know that Dantier+Balogh is not in the business of selling, renting or trading email lists with other companies and businesses for marketing purposes. In our Privacy & Cookie Policy, we’ve provided detailed information on when and why we collect your personal information, how we use it, the limited conditions under which we may disclose it to others and how we keep it secure.
//OUR ETHOS “ We are a passionate design team who believe that the synergy between branding and interiors, is what truly makes a client’s business ”thrive.
03 TARGET MARKET
Ideal customer Dantier + Balogh has a defined target market client that will be the basis of building this business. This client is identical for both the residential and commercial projects. We will be targeting both indiviuals and small businesses, who are at the early stages of their venture. Their typical age range would be between 20- 50 (but not limited to this audience) , male or female, having an interestineatingout,socialising,travelling&attendingnewevents. Their occupations vary from restauranteur, property developer, entrepreneur, retailer + F&B companies. As they are in the infancy of their businesses, they will need interior and branding services- if not one aspect, then both. We penetrate through social media outlets to attract, this new fresh target market.
Geographics Our customer base will mainly be centred around the captial , London, as most development and new businesses use this location as a springboard. We predict that this will be in developed areas such as, Soho, Shoreditch & Westminster. However, areas where gentrification is taking place, such as: Camden, Colindale, Forest Gate, Acton, Hendon etc - we expect to also be main areas of work. Besides development in London, lots of Northern UK cities have been going under extreme development and changes over the past 8 years. Therefore potential clients in cities such as Manchester, Newcastle, Birmingham, Edinburgh, Glasgow and Sheffield, will be targeted, as the potential for growth is 2nd highest here to London. Lastly, clients in the home counties, Cornwall & Hertfordshire, will be found easily through word of mouth and local groups. Naturally, there are less design services in these areas, making competition less. And although property development is not surging in these areas, when prospective clients research for interior design services, D+B will be one of the few and the only one that offers both branding and interior design.Therefore making our company a more attractive option to our client base.
04 UNIQUE SELLING POINT
As stated before, our main aim at Dantier + Balogh, is to provide a fusion of both interiors and branding, to give the most cohesive outcome. We see many design studios, focusing on just the interior space, and the branding is always an afterthought. These lead to final outcomes that are confusing and detract from the users experience. In order to make sure this does not happen, we will strategically examine the clients brand and “ W e are a passionate design work alongside each team who believe that the department at all synergy between branding stages of the project and interiors, is what truly development. This ”makes a client’s business will avoid producing thrive. both a branding and interior package- but rather an overall solution. Therefore our USP is to provide tailored solutions to each client, in order to meet an equilibrium.
05 MARKETING PLAN
Market Research The ever-changing world of hospitality design operates by, and relies on trends as the field is constantly expanding. What was good design 5-10 years ago is not satisfactory today, and today’s work might get forgotten if the concept is not ‘future proof’; Research from the last 5 years (Kandampully, Jay & Zhang, Tingting & Bilgihan, Anil. (2015). Customer loyalty: A review and future directions with a special focus on the hospitality industry. International Journal of Contemporary Hospitality Management.) – shows that grabbing your client’s attention in an information- overloaded world is harder than ever, and the only way to break through this barrier is through brand customisation. Design work has to be unique, show outside the box-thinking, break barriers by being unexpected, while staying intuitive. People of today expect a memorable brand experience, that feels like it has been created to cater for their taste and their taste only;they want to see, hear, experience, and interact with design work seeking a brand new experience that they will remember. A good example of this is the rise in popularity of AirBnB, breaking down the traditional holiday- making, staying in a hotel habit. What started as a cheap, secondary option for travellers, became a good match in the market & today the average Airbnb room equals to a 3 star hotel in most countries. Its success lies within the unique, customisable experience people receive while staying at an AirBnB house, rather than a one-size-fits-all hotel room. A good interior design & branding experience ‘package’ can be distilled down into three touchpoints where the ideal customer interact with the given brand: 1. Before customer arrival: Online research, social media presence, marketing, etc. 2. During business: a welcoming interior design experience, set up to the customer’s taste and requirements 3. After customer leaves: follow up marketing materials, newsletters, advertising, branding. As a design & branding agency our job is to make sure the hospitality business we are working with has the best ‘tools’ they can operate with so they develop a loyal customer base. For every touchpoint it is necessary to define personalisation of action. Just a general and uniform behaviour doesn’t lead to a good brand experience.
3,148 Followers 6,873 Followers The Competition These examples are a selection of companies that have a range of aspects that make them leaders in industry. Harrison is a hospitality design studio that has completed over 60 projects, on a global scale. Their main strength is their presence within the industry- as they are one of the biggest hospitality providers, therefore making them trustworthy to new clients. However where they fall short in our opinion, is on their social media marketing. Whilst companies such as X+living and B3 designers excel, Harrison does not. B3 designers have very strong online marketing techniques and excel when on their social platforms- having nearly 3500 followers on instagram. Although their schemes could be deemed repetitive in style- making this webelieve is their downfall. A practice that implements unique, quirky concepts is , X+Living ; their approach adapts per project to create a scheme that is never like the last. They also have a strong presence on instagram with almost 6900 followers. Aside from commercial interiors, I-AM agency are the only company to also provide brand experiences and events; subsequently making their offer much broader than the former.
I NE DX UP SE TR RT YS CLOCKWISE FROM LEFT PAGE: Harrison- Birmingham & Lon- don, Dallas, Dubai Hospitality B3 Designers Ltd- London Hospitality I-AM design agency- London, Istanbul, Dubai, Mumbai Brand experiences + Commercial X+Living design firm- Shanghai Commercial + Retail
Instagram advertising The saying “The power of the internet” has now evolved into “The power of social media”, with instagram having 1 billion users worldwide. Instagram adverts can be completley tailored to our specific target audience by: location, interests, demographics and behaviours. Facebook advertising Facebook is still the market leader amongst social media- having over 2.5 billion users worldwide- 45 million of which are in the UK. Dantier + Balogh has the potential to run adverts of our work, and reach approximately 40 million indiviuals in our target market. Video marketing YouTube is the second most visited site, therefore potential for exposure is extraordinary. It is the best channel to use for vlogging- a method that has replaced old-school blogging. It will also boost SEO, build traffic and brand awareness, expand our social reach & market to audiences overseas. This outlet also has the potential to grow into an income source as well. Website A vital part of our digital marketing strategy is our website. For the biggest impact, we will make sure that the website is user friendly and is responsive on any device. As we are using Squarespace as a website builder, we are able to track analytics such as user’s location , no. of site visits , page views and visitors via social media platforms. SEO & Google ads In order for www.dantierandbalogh.com to achieve a high organic listing on search engines such as Google, it will conduct search engine optimisation to ensure the website achieves a high ranking in relevant search engine queries. Additionally, we will run google adverts to promote the website and make sure it is at the top of the search engine; for example if users type in “hospitality designer london” , “brand experience designer” or “interior designer hertfordshire”. MSOTNARRLAIKNTEEETGINIEGS
FMFALIRNKEESTITNRAGTEGIESCompany Pitch Brochure For sales literature, a simple and professional looking brochure will be available s a provision for referral sources, leave at seminars, and on a selective basis, use for direct mail purposes. Events & Tradeshows Networking with other industry leaders and prospective buyers can provide a great opportunity in practice. With London being in close distance, we will attend up and coming events in the city throughout the year to connect with people in the restaurant, hotel, design and property industry. Business Cards While looking at a business card people form an opinion of a brand. A good business card says more than just contact details. It is important to design a card creatively as it hugely contributes towards brand awareness. We will hand these out during face to face networking. Direct Marketing Direct word of mouth represents an important form of communication for our brand in its early stages. This method involves personal selling, both in person and via LinkedIn. Public & Press Relations Running print advertisements is another method for getting in front of more potential customers. This method will be used once we have undertaken 3 projects, in order to gain a sufficient amount of images and information to advertise. These will then be displayed in local home & lifestyle magazines, as well as restaurant & food magazines within the UK market.
. BUDGET Instagram Advertising £45/ month Facebook Advertising £25/ month Video Marketing £0/ month Website via Squarespace £12/ month Google Ads £243/ month Company brochure £18/ month Events & Tradeshows £13/ month Business Cards Direct Marketing £5/ month Public & Press Relations £41/ month £200/ month TOTAL COST / ANNUM £7,224
06 FINANCIAL PLAN
Pricing Strategy The studio will adopt a competitive pricing strategy : we will charge clients an amount that is competitive to that of other designers and design studios. We will aim to level attractive pricing structures, whilst offering the same level of service. The intent is to make up any lost profit margin in volume. Once established and fully recognised our pricing will be upscaled to reflect our delivery. Initially in the first 3 years of the business, we will charge clients on an hourly rate. For example, a calcuation of time spent on a project will be made (in a breakdown of days and subsequent weeks) and then multiplied by an hourly rate of £60 (J. Dantier) and £50 (L. Balogh), to produce an overall cost. After the initial first 3 years, a fee percentage structure will supersede the hourly charge system, as projects will be readily available and in place. This allows for ease and gives the client a reasonable indication of budgeting, whilst also allowing for some flexibility if the project scope is increased.
SALES FORECAST The sales forecast for years 1, 2, & 3 have been calculated by a number of different factors. One being the total number of projects forecasted this year: 6 projects in total. Additionally the hourly fee structures of £60 / hr and £50 / hr have been taken into consideration, for a 6 week interior design phase project, alongside a 3 week branding package for said project. Thereby an estimation for the first year would yield £130,400 in sales. ASSUMPTIONS 6 complete projects in year 2020 10% growth in year 2 25% growth in year 3 Increase in no. of projects as years proceed
STUDIO EXPENDITURE SUMMARY
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