Business Plan
The ASK
Develop a business idea and create a plan around it in order to secure a $100,000 loan and win the use of a retail space.
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Ruby North-Sandel
Chief Executive Officer
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Caera Harrison
Chief Financial Officer
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Dixie Delcid
Chief Marketing Officer
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Kelsey Claros
Chief Human Resources Officer
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Dyanna Gamarro
Chief Operations Officer
The Process
Company Overview
Our company is named INNOV8 LAB, a Launchpad for Artistic Brilliance, a fashion-focused coworking space that works to uplift the creative community. Our goal is to bring together a diverse artistic community that is safe and welcoming.
Our Blue Ocean
INNOV8 LAB distinguishes itself by catering specifically to the arts community. Our tailored approach acknowledges the unique needs of creative professionals, offering specialized products and amenities designed to facilitate artistic endeavors.
Our Client Personna
Ryan, a 27-year-old passionate about creativity and entrepreneurship. Holding a B.F.A. degree from VCUarts, Ryan established a startup in Richmond, VA. According to VALS research, Ryan falls into the Achievers and Experiencers categories. As an artistic-focused entrepreneur, Ryan sought out Innov8 Lab for its sense of community and networking opportunities among fellow creatives.
Choose your plan
Tier 1
$300 Monthly
$3,600 Yearly
Package includes:
Access to private studio space
All studios
20 credits per month for room rentals.
Popular
Tier 2
$250 Monthly
$3,000 Yearly
Package includes:
Access to private studio space
Fashion and Digitial Spaces
10 credits per month for room rentals.
Tier 3
$180 Monthly
$2,160 Yearly
Package includes:
Collaborative Open Space
Fashion studios
5 credits per month for room rentals.
Marketing
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Business cards and pamphlets convey Innov8 Lab's message effectively through their physical presence. Matchboxes serve a dual purpose, being practical items that customers are likely to retain, thereby extending brand exposure through word of mouth. This method, which originated in the mid-1900s, has evolved into a cost-efficient marketing tool that doubles as a collectible or decor piece, providing ongoing visibility for the brand.
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Through Meta's social media campaign, Innov8 Lab can leverage a $2,700 budget to reach a wide audience with tailored targeting options, fostering engagement through diverse content formats. Additionally, email marketing offers a personalized communication channel at a cost-efficient $500 annual budget, ideal for reaching Richmond locals. A well-designed website complements these efforts, serving as a centralized hub for brand information and engagement.
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In a collaborative effort with Plaza Arts, Innov8 Lab offers discounts or promotions to Plaza Arts customers in exchange for promotional space in their catalog, with an estimated cost of zero. Similarly, collaborating with VCUarts involves promoting student discounts at Innov8 Lab through VCUarts' email newsletters and student communication channels, also at no cost.
