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Baycrafts: Going National
baycrafts aims to keep women in fashion by providing them unique and handcrafted costume jewelry.
Baycrafts is a sole-prorietorship company which produces and sells costume jewelry made from both indigenous and synthetic materials such as pearls, wood, fiber, seeds, crystals and glass.
Classified as a micro-enterprise, Baycrafts manufactures and retails its own products. It sells them through its website,, Trade Fairs and in its boutique, and through its reseller network and distributor program..
Facts
2004
| Two years ago: | 11,111 |
| Last year: | 33,333 |
| This year (forecast): | 59,786 |
| Year 2 (forecast): | 60,711 |
| Year 3 (forecast): | 97,966 |
| Two years ago: | 888 |
| Last year: | 6,666 |
| This year (forecast): | 9,999 |
| Year 2 (forecast): | 14,998 |
| Year 3 (forecast): | 22,497 |
| Two years ago: | 8 |
| Last year: | 12 |
| This year (forecast): | 15 |
| Year 2 (forecast): | 20 |
| Year 3 (forecast): | 25 |
Finance needed
| Finance needed for fixed assets (buying of machines, buildings, ...) | 12,444 |
| Finance needed for working capital (salaries, stock, rental, leasing, transport, ...) | 5,571 |
| Total finance needed (US$) | 18,015 |
How do you expect this to be financed? Please note: the total amount mentioned here should be equal to the total finance needed at the previous question.
| Own Contribution in cash | 9,007 |
| Loans (debt) | 4,909 |
| Share capital that you seek from investors (equity) | 2,500 |
| Other sources | 2,500 |
| Total finance needed (US$) | 18,916 |
The Business
Baycrafts is a sole-prorietorship company which produces and sells costume jewelry made from both indigenous and synthetic materials such as pearls, wood, fiber, seeds, crystals and glass.
It has a complete line of jewelry like necklaces, bracelets, earrings, hair ornaments, rings and even feet accessories.
Women need to feel fashionable without busting their budget. At Baycrafts, we provide them with real value by making one-of-a-kind accessories which are affordable yet wearable at the same time.
We make one-of-a-kind fashion jewelry by buying beads from different sources and assembling them in our factory in Naga City. We also make our own components by mixing media such as seeds, textiles, fabric and etc.
Baycrafts has both B2B and B2C markets. We sell to resellers and distributors who in turn, re-sell our products to their friends or in their boutiques.
We also sell directly to customers during our trade exhibits and our website
Our jewelry primarily caters to women, aged 30 and above, professionals and entrepreneurs, with a very active social life.
At present, we have resellers in Manila , Cebu, Ilo-Ilo, Baguio, Pangasinan, Leyte, Legazpi and Iriga City. We also have distributors in US, Canada and UK.
Our major competitors are cebu-based jewelry manufacturers . However, they don’t sell in the domestic market and mainly export their products abroad.
Another source of competition are cheap jewelry made from China who have been flooding the Philippine market. But, since these are mass produced, the designs has questionable quality and does not provide exclusivity. They have become very common, turning off some women who want something unique.
Baycrafts serves a niche –affordable designer jewelry which are available to both local and international market. . We can serve smaller orders and we can serve faster.
Our designs are not mass produced, but are very versatile, dynamic and functional. We have belts which can be necklaces, charms which can serve as pendants, and a whole lot of options which provide our customers real value
We plan to grow from Micro to SME by:
a. Expanding our Market base - by opening a factory outlet in Manila, conducting Business opportunity meetings in Naga City.
b. Strengthening the Brand - by creating a packaging for baycrafts and creating ready baycraft stores for set up
C. Creating a system - such as barcodes, POS and inventory system which will enable us to serve customers better and faster
The Entrepreneur & Management
Marianne Olano – is the sole proprietor of Baycrafts. Olano graduated cum laude with a degree in Development Communication from Ateneo de Naga. At present, she handles the salient processes such as: product and Development, Marketing and Sales of the company.
Creativity is a key factor in this industry. That, combined with my previous knowledge in marketing and my penchant for organizing makes me confident that I can build this business from a micro-enterprise into a full-pledged SME in three years or less.
I have been engaged in business for the past 4 years full-time -- 7 days a week, 8 to 16 hours a day.
Development
We provide:
women empowerment since our employees are mostly women who are either out of school youth or unemployed mothers.
Work and Income - We provide work around the community since we outsource most tasks which are not directly related to jewelry making such as carpentery, masonry, painting, crocheting and etc.
WE also provide additional income to women who enter into our reseller program.
congrats!
More power!