Answer :

Opening an artificial jewellery art gallery in Burnaby, BC

Letter of transmission:

Name:

6770 Halifax St

 Burnaby BC V5B 2R4 (Burnaby, British Columbia

Date:

Name: Mr. F Smith

Phone Number (604) 299-8768

Address: 1955 Woodway Pl 105 Burnaby BC V5B 4S5

Burnaby, British Columbia

Dear Mr. F Smith,

I would request you to please enclose my new business proposal of opening an artificial jewellery art gallery in Burnaby, BC. I would like to shows you the requirement and demand of an artificial jewellery art gallery in Burnaby. The location is viable as there is not a single artificial jewellery shop in this area. Most of the artificial jewellery shops are closed due to the lack of proper design. It has been observed that people who are likely to wear party jewellery have to go to the main market. I would like to say that this place is unique for the location of a jewellery art gallery Opening of the gallery will bring the possibility to the local artificial jewellery maker to get the new design. Apart from that, they can supply their artificial jewellery in the exhibition to get new orders from the visitors.  

My earnest proposal and requirement are to persuade you and Community Savings Credit Union to make this business venture successful.  I would like to take a property lease for  5 years at the main street of Burnaby BC V5B 2R4. I can ensure with my survey on the need and demand of an artificial jewellery shop which I have conducted last week. In my survey, I have seen that young girls and working women are in demand of different types of artificial jewellery. I think, my plan is enough convincing to get your support for the opening of a new artificial jewellery art gallery.

I would request you to contact me at any time regarding any query on this business proposal. I will wait for your feedback with great pomp. Thank you very much for your time and consideration.

With warm regards 

(Name)

Executive summary:

The goal of this business proposal is to fulfil the demand of the people in the area who seeks artificial jewellery design. I think that the establishment of the artificial art jewellery gallery in the locality will improve the creativity of the goldsmith and artificial jewellery makers to create a new design. The location for the business is very popular. Visitors will not face any transportation issues to visit the artificial jewellery art gallery. Due to the connectivity efficiency along with the local people, customers from other locations will come to this jewellery art gallery to see new unique designs and trends of artificial jewellery. There is the risk of people’s disliking of the design and style and can lose their interest to come again.  

Overview:

I have spent 23 years in Burnaby and have seen the busy life of people. As per my observation, most of the women in Burnaby are working and get less time for enjoyment. The tradition of wearing artificial jewellery is found in the city. I think that the opening of the artificial jewellery art gallery will provide dual benefits for the location. First of all, people can spend their time in this art gallery on the weekend and the jewellery shops can get new design for the artificial jewellery. 

 I have seen that artificial jewellery shops in Burnaby are not working properly due to the high price and less attractive design. Much artificial jewellery shop comes and goes within a year. I have realized that it is not possible to purchase original diamond and platinum jewellery for every occasion or party.  

For the last few years, I have observed the trends of wearing customized jewellery are very high in the market, and in Burnaby, there is not a single customized artificial jewellery shop. Last month, I have involved in a conversation with some women and they said that they are not able to purchase original jewellery due to their poor financial background.  I strongly believe that this business proposal will provide an excellent outcome in this location. I have also observed the environmental concern of the people so that waste materials can be disposed of very properly. 

Introduction: 

I am writing this with the proposal of earnest involvement of Community Savings Credit Union for the financial help. I think that opening an artificial jewellery art gallery is very costly. The business is new in the location, therefore; the possibility of loss is very high if the customer does not like the design and finish of the jewellery. I think that I have to come with some strong capital so that along with the local people I can attract the people of Vancouver. 

The business proposal will provide a viable outcome to the entrepreneur. Local people would be benefited from this shop. Apart from that, the locality is very popular and transportation issues are very minimal. 

Challenges: 

The business proposal of artificial jewellery art gallery can face several challenges in the market which are given below,

The response of the visitors may be very less

Response: The art gallery will show different designs of artificial jewellery to the people (Varghese et al. 2016). There is the risk that people may not like the design and style and can lose their interest to come again. The jewellery art gallery will present a portfolio of the goldsmith and designer who have come with the hope of opening a new shop based on the response of the visitors.  If the response is not high then they will face issues in the future. 

Cannot meet with the quality of original gold, platinum, and diamond jewellery shops

Response: The artificial jewellery is very reliable and mostly purchase by a customer for 1-2 times uses.  Therefore, it can be said that the possibility of showing less interest in coming to the art gallery for the design is very high. 

The ticket price is very high

Response: Maintenance of the business is based on the money that will be collected from the ticket and exhibition (Joseph, 2016). Therefore, the art gallery has to fix the high price on the ticket that cannot be afforded by people of lower financial backgrounds.  This will result in a big loss for the company. 

Cost: 

The cost associated with the opening of the artificial jewellery art gallery is given below

The breakeven point for the business per year:

The process to measure result: 

The result can be measured by the survey that can be conducted upon the people of Burnaby, BC who are knowledgeable about artificial jewellery. I think that conduction a survey on the local goldsmith and shopkeeper of the artificial jewellery can provide me an idea of the demand of the local people regarding the design of jewellery (Burnaby.ca. 2021). The survey will provide me an idea about the ability of people to expanse on artificial jewellery. I need to take a response from the people regarding their interest in going to the art gallery. By the assessment of their working schedule and daily expanse, I can understand whether this artificially jewellery art gallery will work or not. 

3 months after the opening of the art artificial jewellery art gallery I will re-survey those respondents to get their feedback. I will also survey the market to observe whether the local artificial jewellery makers who have supplied their jewellery in the art gallery are benefited from the exhibition or not. 

Recommendations:

Some recommendations can be given to improve the profit percentage of this artificial jewellery arty gallery. The art gallery should open shop in the apartment where the latest jewellery is available. There should be the facility of ordering jewellery from the goldsmith which design has been selected by the visitor. 

The art gallery should provide online delivery facilities to the customers who have selected the design of the selected jewellery makers from the exhibition.