THE STORE WOULD BE REPLICATED ON-LINE, MAKING GOODS AND SERVICES AVAILABLE TO EVERYONE, THEREFORE INCREASING PROFIT.

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Roland Austin
6 years ago
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1 BARBARA THE BIG IDEA BAKE OFF THE MARTHA STEWART STORE JANUARY 28, 2008 MY BIG IDEA AN INTERACTIVE MARTHA STEWART FLAGSHIP STORE IN NEW YORK CITY LOCATED IN TIMES SQUARE, UNION SQUARE OR ROCKEFELLER CENTER. THOUGH LOCATIONS BEYOND NEW YORK SHOULDN T BE OVERLOOKED, A FLAGSHIP STORE IN NEW YORK HAS GREATER POTENTIAL TO OFFER CUSTOMER SERVICES, A BIG INCOME DRIVER. THE STORE WOULD BE REPLICATED ON-LINE, MAKING GOODS AND SERVICES AVAILABLE TO EVERYONE, THEREFORE INCREASING PROFIT. OUTGROWTH POTENTIAL OTHER LOCATIONS SUCH AS LAS VEGAS (IN ONE OF THE HOTEL CHAINS LIKE THE FORUM SHOPS AT CAESAR S, WHICH IS SUCCESSFUL IN DRAWING HUGE NUMBERS) OR THE MALL OF AMERICA IN MINNEAPOLIS COULD SERVE AS ADDITIONAL SITES LATER ON. DETROIT IS ALSO A POSSIBILITY AND RENTS ARE LOWER THERE. HOTEL AND MALL LOCATIONS MAY OFFER DISCOUNTED RENTS FOR BRINGING IN ADDITIONAL FOOT TRAFFIC ONCE THE CONCEPT PROVES SUCCESSFUL. THESE STORES COULD BE SMALLER, SELLING A SAMPLING OF PRODUCTS AND DRIVING THE ADVERTISING OF THE COMPANY. WE COULD ALSO PARTNER WITH ANOTHER STORE, MUCH LIKE DUNKIN DONUTS AND BASKIN ROBBINS OR MUSIC AND STARBUCKS, BUT I THINK WE VE DONE ENOUGH PARTNERING AND IT WOULD BE NICE TO HAVE SOMETHING UNIQUELY OURS. WHY IT WILL WORK SHOPPING AT THE MARTHA STEWART STORE WILL BE AN EVENT A LITTLE DINING A LITTLE DISCOVERY. LOOK AT STARBUCKS IT S NOT JUST ABOUT THE COFFEE IT S THE EXPERIENCE; YOU KIND OF FEEL YOU RE PART OF SOMETHING, AND BECAUSE YOU WANT TO BE PART OF IT, YOU BUY THE MUGS AND THE MUSIC AND THE WATER THAT BENEFITS THE RAIN FOREST.

2 OR THE DISNEY STORE: AGAIN, THE EXPERIENCE INFLUENCES CUSTOMERS TO BUY THE PRODUCTS. AND THE APPLE STORE: BEAUTIFUL (WHICH OURS WILL BE) AND SERVICE-ORIENTED (WHICH OURS WILL BE, TOO). AND, OF COURSE, THERE S ALWAYS THE FACTOR THAT, IF MARTHA USES THE PRODUCT, I WANT IT. THE STORE WILL CATER TO EVERY AGE GROUP, MUCH LIKE TIFFANY, WHERE CUSTOMERS KNOW THEY CAN FIND GIFTS FROM BIRTH TO A 50th ANNIVERSARY. THE MISSION THE STORE WILL CELEBRATE CREATIVE LIVING AND LEARNING, AND OFFER PRODUCTS FOR PURCHASE, SERVICES, SEMINARS, DEMONSTRATIONS, CLASSES, BOOK SIGNINGS, CHEF AND CELEBRITY VISITS, A HELP DESK, AND A COFFEE/CAPPUCCINO BAR WITH A SIMPLE KITCHEN SET UP. IT WILL OFFER SOMETHING FOR KIDS, WOMEN AND MEN. TO ADD TO THE COOL FACTOR (LIKE THE GOOGLE AND APPLE COMPANIES), WE LL HAVE VIDEO SCREENS FEATURING MARTHA USING PRODUCTS WE SELL IN THE STORE. THIS VIDEO WILL BE REPURPOSED FROM OUR LIBRARY. STAFFING DAY-TO-DAY STAFFING WILL INCLUDE A COMBINATION OF MSLO STAFFERS (ON A ROTATING BASIS) AND PEOPLE WHO UNDERSTAND OUR BRAND. OUTSIDE CONTENT EXPERTS WILL MAKE FREQUENT APPEARANCES. OFFERINGS PRODUCTS FOR PURCHASE A LINE OF ITEMS EXCLUSIVELY OURS, LIKE THOSE FROM THE FORMER MARTHA BY MAIL CATALOGUE (FOOD, PETS, GARDEN, CRAFTS, HOME KEEPING, KITCHEN, BED, BATH). THERE WILL BE SPECIFIC AREAS IN THE STORE FOR EACH OF OUR CORE CONTENT AREAS. MSLO VIDEOS, MAGAZINES, BOOKS MSLO BRANDED ITEMS: MUGS, TEE-SHIRTS, APRONS, TOTE BAGS, BASEBALL CAPS, AND VISORS. THIS STUFF SELLS, AND I BELIEVE A GOOD PORTION OF OUR STUDIO AUDIENCE WOULD LEAVE THE SHOW AND GO TO THE STORE.

3 WE CAN ALSO GIVE AUDIENCE MEMBERS DISCOUNT COUPONS TO REDEEM THERE. VIDEOS AND BOOKS AUTHORED BY PEOPLE WE SUPPORT (OUR RADIO HOSTS, HEALTH AND PET PROFESSIONALS, ETC.), TAKING A CUT FROM EACH PURCHASE. SERVICES MSLO STAFFERS WILL OFFER GUIDANCE AND MATERIALS FOR PLANNING CELEBRATIONS: WEDDINGS, SHOWERS, AND ALL TYPES OF PARTIES. MONTHLY TABLE DISPLAYS WILL ACCOMPANY VIDEO SCREENS FEATURING A MYRIAD OF CELEBRATIONS PREVIOUSLY PRODUCED FOR TV AND FEATURED IN OUR MAGAZINES. VISITORS WILL LEAVE WITH GIFT BAGS FILLED WITH VENDOR OFFERINGS (INVITATIONS, CATERING, FLOWERS, PHOTOGRAPHY, AND TABLE DISPLAY IDEAS). VENDORS WILL PAY A PREMIUM FOR ADVERTISING, OFFSETTING OUR COST AND ENHANCING THE BOTTOM LINE OF ALL CONCERNED. WE LL ALSO OFFER SEMINARS (WEDDINGS, WELLNESS, COOKING, CRAFTS, PETS AND GARDENING). CUSTOMERS WILL PAY A FEE TO ATTEND, AND WE LL SIMULCAST THE SEMINARS VIA STREAMING VIDEO ON THE WEB, FOR A FEE AS WELL. OUR STAFFERS, OR EXPERTS IN EACH FIELD, WILL HOST THE EVENTS. WE LL ADVERTISE THE SEMINARS ON OUR TV SHOW, RADIO CHANNEL, MAGAZINES, AND RETAIL OUTLETS. CONTESTS WILL ADD TO THE EXCITEMENT, ENTICING OUR VIEWERS, LISTENERS, AND READERS TO WIN THE OPPORTUNITY TO ATTEND AT NO COST. DEMONSTRATIONS THESE WILL FOCUS ON ITEMS WE WANT TO SELL, LIKE PIPING BAGS FOR DECORATING DESSERTS. ITEMS WOULD TIE IN TO THE CURRENT MONTH S MAGAZINES, OR SOMETHING WE RECENTLY FEATURED ON TELEVISION. IF IT S THE PIPING BAG, A VIDEO SCREEN WILL SHOW MARTHA USING THE BAG IN A TELEVISION SEGMENT. WE LL ALSO SELL CAKE DECORATING GIFT BAGS FEATURING THE PIPING BAG. WHY WILL THEY BUY MARTHA S PIPING BAG AND NOT ANOTHER BRAND? BECAUSE OF THE EMOTIONAL CONNECTION.

4 ANOTHER POSSIBLE DEMONSTRATION: HOW TO TIE SCARVES INTO PURSES AND WE LL SELL THE SCARVES. IN ADDITION, WE LL FEATURE HANDS-ON DEMONSTRATIONS FOR PARENTS AND KIDS GREAT BIRTHDAY PARTY IDEAS LIKE PRINTMAKING AND PIZZA BAKING. AGAIN INTERACTIVE, INFORMATIVE AND FUN. AND, OF COURSE, WE LL SELL THE ITEMS WE RE USING IN THE DEMONSTRATIONS. CLASSES THE STORE WILL OFFER SEASONAL CRAFT AND COOKING CLASSES TAUGHT BY A ROTATION OF OUR EMPLOYEES OR FREELANCE STAFF. CLASSES WOULD INCLUDE HOLIDAY FOODS, UNIQUE GIFT-WRAPPING IDEAS, AND SIMPLE GIFTS. WE CAN USE ITEMS AVAILABLE AT MICHAELS MAYBE EVEN SELL THEM. MICHAELS COULD PAY A PREMIUM FOR OUR ADVERTISING THE PRODUCTS. WE COULD OFFER DISCOUNTED COUPONS TO BE USED AT MICHAELS. GUEST APPEARANCES/BOOK SIGNINGS THIS INCLUDES INDIVIDUALS WHO HAVE SOMETHING TO PROMOTE: A NEW BOOK BY A HEALTH EXPERT, LIKE ANDREW WEIL, WHO COULD ALSO WHIP UP A SIMPLE. HEALTHY DISH. SIRIUS RADIO HOSTS, LIKE MARC MORRONE, COULD BROADCAST LIVE FROM THE STORE. MANY OF THESE HOSTS HAVE BOOKS. CHEFS COULD ALSO PROMOTE THEIR BOOKS AND/OR TV SHOWS BY DOING SIMPLE COOKING DEMOS. GRILLING WOULD KEEP A LOT OF THE MEN INTERESTED. A SIMPLE BUT FUN TOUCH IS FEATURING A GOOD THINGS BOX WHERE VISITORS SUBMIT THEIR OWN GOOD THINGS, WITH THE CHANCE OF HAVING THEIR IDEA APPEAR IN ONE OF OUR MAGAZINES OR TV SHOWS. OUR DAILY TELEVISION SHOW ALSO IS A PRIME VEHICLE FOR GUEST APPEARANCES AT THE STORE. HERE S AN EXAMPLE: EVA SCRIVO APPEARS ON THE SHOW, DEMONSTRATING TECHNIQUES FOR MAKEUP APPLICATION. MARTHA ANNOUNCES THAT EVA WILL BE APPEARING AT THE STORE AFTER THE SHOW TO DO MAKEUP

5 CONSULTATIONS FOR THE FIRST 10 PEOPLE WHO ARRIVE. OR SOAP STAR ICON SUSAN LUCCI, WHO HAS BILLIONS OF FANS, APPEARS ON THE SHOW PROMOTING HER NEW BOOK. MARTHA MENTIONS SUSAN WILL BE AT THE STORE DOING BOOK SIGNINGS. THE STORE WILL BE MOBBED AND PEOPLE WILL SHOP, SHOP, SHOP! AUTHORS AND CHEFS WOULD ALSO SHOW UP AFTER APPEARING ON THE PROGRAM. HELP DESK THIS IS SIMILAR TO THE GENIUS BAR AT THE APPLE STORE. ONCE A MONTH, FOR AN HOUR OR TWO, MARTHA WILL MAN THE BAR AND ANSWER CUSTOMERS QUESTIONS. AT OTHER TIMES, A ROTATION OF EXPERTS WILL DO THE SAME IN THEIR SPECIFIC AREAS (GARDEN, CRAFTS, FOOD, PETS, ETC.). WE LL ALSO HAVE A BANK OF COMPUTERS AVAILABLE FOR CUSTOMERS TO ACCESS OUR WEBSITE. COFFEE/CAPPUCCINO BAR HERE VISITORS WILL LEARN HOW TO MAKE THE PERFECT CAPPUCCINO AND WE COULD EVEN DEVELOP OUR OWN BRANDED COFFEE. WE LL ALSO SELL CHOCOLATE CHIP COOKIES AND BROWNIES, TWO RECIPES THAT ARE AMONG THE MOST DOWNLOADED FROM OUR WEBSITE. AND IF SCENT INSPIRES PURCHASE (REALTORS SUGGEST THAT THE AROMA OF BAKING COOKIES HELPS SELL APARTMENTS), COOKIES BAKING CAN HELP SELL PRODUCTS. WHEN VISITORS COME THROUGH THE DOOR, WE LL OFFER A WELCOME TREAT AND THEY LL FEEL LIKE THEY RE GUESTS WALKING INTO MARTHA S HOME. AND THERE S ALWAYS THE POSSIBILITY THAT MARTHA WILL SHOW UP, WHICH, KNOWING MARTHA, SHE WILL. ATMOSPHERE TO CONTINUE WITH THE POWER OF THE SENSES, ALL PRODUCTS WILL BE OUT OF THEIR PACKAGING, ALLOWING CUSTOMERS TO TOUCH, FEEL IDENTIFY WITH AND BUY. SOUND IS ALSO A POWERFUL SELLING TOOL. RESEARCH SHOWS THAT MUSIC DEFINITELY AFFECTS THE AMOUNT OF TIME SPENT IN A STORE AS WELL AS THE SPEED OF SHOPPING. WE CAN CREATE OUR OWN CDS TO PLAY AND SELL, ANOTHER SIGNATURE BRANDING STATEMENT FOR OUR STORE.

6 THE STORE AS AN ADVERTISEMENT THE STORE WILL ALSO BE A SHOWCASE FOR PROMOTING OUR PARTNERSHIPS WITH MACY S, BERNHARDT, MICHAELS, K-MART AND COSTCO. WE LL FEATURE ONLY SELECT ITEMS, AND VIDEO SCREENS WILL BROADCAST ENTIRE LINES SO VISITORS CAN VIEW THE BRANDS AVAILABLE FOR PURCHASE ON THE INTERNET OR IN THE SPECIFIC STORES. AS AN INCENTIVE TO PURCHASE ITEMS, VISITORS WILL RECEIVE A GOOD THINGS COUPON TO REDEEM AT THE ABOVE-MENTIONED VENUES. IN THIS WAY, OUR STORE IS PART OF THE ADVERTISING BUDGET. BUDGET AND ADVERTISING TO OFFSET THE COST OF MAINTAINING THE STORE, WE LL CHARGE A PREMIUM FOR FEATURING PARTNERED AND NON-PARTNERED PRODUCTS. WE LL ADVERTISE IN OUR MONTHLY PUBLICATIONS AND ON OUR RADIO AND TV SHOWS. ALSO, THE STREET IS A HIDDEN ASSET: ADS ON BUSES AND IN AIRPORTS WILL ATTRACT LOYAL CUSTOMERS AND CURIOUS OTHERS. FEASIBILITY AND COST WE D NEED TO DO A FOCUS GROUP TO DETERMINE MARKET DEMOGRAPHICS AND THEN ASSEMBLE A TEAM TO DEVELOP THE MODEL. ON BOARD: A REAL ESTATE BROKER, ARCHITECT, DESIGNER AND SOMEONE TO DO A PRO-FORMA TO PROJECT SALES BASED ON THE MERCHANDISE BEING SOLD. IF RENT IN HIGHLY DESIRABLE LOCATIONS, AT STREET LEVEL, COMMANDS $200-$300 PER SQUARE FOOT, AND A PROJECTED STORE SIZE WOULD RUN BETWEEN 3,000-5,000 SQUARE FEET, THE AVERAGE MONTHLY RENT WOULD TOTAL $83, SUPPORT A CAUSE I ALSO THINK IT S A GREAT IDEA TO STAND BEHIND A CAUSE; AVON S IS BREAST CANCER MAYBE OURS COULD HAVE SOMETHING TO DO WITH PETS AND WE COULD, ON OCCASION, HAVE KITTENS UP FOR ADOPTION

7 FROM LOCAL SHELTERS. I THINK ON SOME LEVEL THIS IS MEANINGFUL TO CUSTOMERS. IN CLOSING, THIS BIG IDEA IS ONE I VE HAD SINCE COMING TO THE COMPANY SEVEN YEARS AGO. I VE ONLY MENTIONED IT ONCE TO MARTHA LAST YEAR. I BELIEVE THAT A MARTHA STEWART STORE IS A MUST- HAVE. AS A TV PRODUCER, I SEE IT AS ANOTHER WAY TO HAVE A LIVE SHOW EVERY DAY.

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