Independent Choice Flicks of Eugene, Oregon specializes in offering hard-to-find video rentals of foreign-language and art films. The independent video store business plan details market research into the demand for alternative genre and independent films in the Eugene area and outlines their competitive advantage due to dearth of such films in the larger chain stores. With a large population of liberal and educated people in Eugene, ICF believes that the market for such films is as yet untapped and that the city is a prime location for a business of this kind. Because catering to such a niche market is unprofitable for the large corporations, ICF has a considerable competitive advantage. ICF's independent video store sample business plan projects profitability within the first year of operation, with third year revenues expected to hit $230,000.
Independent Choice Flicks (ICF) is an alternative video rental store located in Eugene, Ore. ICF will rent movies not often available from the larger chains: film festival movies, independent releases, foreign films and other "arts" films. Eugene clearly has the market for these types of films, as evidenced by the general demographics (liberal, educated, college town) and the popularity of the Bijou Arts Cinema, a first run movie theatre concentrating on this same genre of movies.
This market has been ignored by the dominant stores in Eugene. They may have a few films that fit these descriptions, but in general they are far and few between. It is too difficult for the large corporations to market to this specific segment, particularly with their current business model which is putting a stores in all cities that are very similar in feel and library with a concentration on large scale commercial releases.
Through the use of ICF's competitive advantage attention to customers, ICF will grow steadily to profitability. This is manifested in two ways, 1) providing outstanding customer service and knowledgeable help, and 2) supplying movies that have a demand in Eugene but the demand has yet to be addressed by the other players who leave it off their radar, assuming it is only for the fringe of the general population. Fortunately, the fringe in Eugene make up a large part of the general population here. ICF will begin profitability in the first year and will have projected revenues of over $230,000 by year three.
The objectives for the first three years of operation include:
To create a movie rental store whose goal it is to exceed customers' expectations.
To develop an alternative to the traditional franchise movie rental store.
To increase the number of clients by 20% per year through superior selection and customer service.
The Independent Choice Flick's mission is to provide the customer with independent, non commercial movies. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
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