BRILLIANT ANSWERS

Katherina Costarangos

Sunday, February 12th, 2017

Company Description

Pisti’ Design and Co. is a home furnishings boutique business that will bring a whole new impression to the market. It will be well known as Pisti’ Design and the first boutique will be opening around the Miami, Florida area.

Mission

Pisti’ Design aims to provide luxury furniture for a reasonable price complemented by professional design consulting services to provide a new and refreshing shopping experience.

Services

Pisti’ Design will always keep in mind that customer’s are the reason that we exist; therefore their happiness is ours. The retail/boutique will mainly emphasis on offering home, office and club furniture as well as accents and small products such as candle and books to go with my frequent and new clients lifestyle. Pisti’ Design home furniture section will include sofa sets, bedroom furniture, coffee tables, dining tables, kitchen furniture and accents. Also provide comfort to my clients by offering free transport services to please customers. The little things will also affect how my customers shop so I will offer refreshing’s such as coffee from the house, a variety of teas and wines.

Legal Issues

My business is starting as a sole proprietorship. Along the years I had been saving and am able to invest $30,000 which is really not that much for a furniture boutique but the business will start very small with an expo and will escalate from there. A loan from a bank will be needed, but hopefully in a short time I will make a partnership with Catalina Jimenez, incorporating retail, supplier and design knowledge to my initial concept. I don't really see Pisti Design growing into a corporation, since the taxes and liabilities involved in this type of legal form are not a risk I would like to take in my first business venture. I am not ruling out its possibility, but very smart decisions would have to be made and I am certain my partner and I would seek further legal advice.

Catalina and I will have an LLC, enjoying the benefits of a corporation but still avoiding the taxation and formalities of that form.

In every business of this kind of course, contracts also have to be signed between my entity and my suppliers/vendors. Before having an agreement with anyone, I will create a vendor manual, which will specify what I agree to and what the company (mainly from Italy and Japan due to their advanced technology and attention to detail in architecture and industrial design) agrees too as well. We will have to establish FOB dates, chargeback rules, and a very strong communication in order to avoid any problems and allows us both to run smoothly.

In a retail-based business, shipping expenses are high and something to take seriously, especially when I am importing most of my product. By signing agreements and possibly partnering with someone in this industry in the future, I will avoid extra fees and be able to invest more in the future of my business. I know of businesses that partner with major companies like UPS and/or Fedex to get better offers and assure an excellent service so that both our suppliers and customers are happy with Pisti's offerings. I will try to incorporate my knowledge and connections from Panama and the canal to strategize my best way to go with this aspect of the business. Later on when Pisti Design expands and opens there, this will have already created a good base for us to assure a smoother running.