09-16-2002 Planning Packet - Laserfiche WebLink

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Hope Chest for Breast Cancer Resale Shop Summary The mission of the Hope Chest for Breast Cancer is to provide funding to organizations dedicated to breast cancer research, education and care for the under-served (limited or no health insurance), which includes early detection, medical serv ices, and hospice care. The business is based on passion...a passion that comes from the hearts of people who have been toiirhcd by breast cancer. The premise for the Foundation is that people who have been touched by breast cancer form a very special community that w ill rally behind a donation, volunteer and shopping opportunity to support the search for tlic cause and the successful treatment for breast cancer. The Foundation encourages a unique, fun environment in which to donate, vvork^ volunteer and shop, all based on the overriding passion driven by the legacy of our sisters, mothers, daughters, wives, aunts, grandmothers and friends who have been lost to breast cancer. The primary source of funds is an ongoing revenue stream from the resale of donated, upscale clothing, furniture and accessories with a secondary source of funding being direct financial contributions. For the ongoing revenue stream, the foundation contracts with the Hope Chest Resale Shops (the "Resale Shops") to solicit, pick up. document for indiv idual la.x purposes, process, market, merchandise, inventory and sale the donated items. The majority of the inventory comes from upper income, individual donations and surplus donations from very upscale retail businesses. The typical donator is a woman who regularly changes her wardrobe and redecorates (furniture, accessories, dish ware, etc) her home. The donators arc provided excellent serv ice and attention throughout their donation process. The kevs to success for the foundation arc Community awareness and support for the business concept o Strategy: Create a community of supporters who regularly donate and proactively spread the u ord about the Hope Chest Foundation • Seek support from local organizations ■ Local women ’s organizations: Minnesota Women's Economic Roundtable, Minnesota Women Business Owners, Minnesota Women ’s Campaign Fund, Women Lawyer’s Association • Health related organizations; Oncology Association. Nursing Association, United Health Care, Health Partners, Piper Breast Institute, • Active membership is local business associations: Chamber of Commerce. Rotary. ■ Conduct champion-hosted donation parlies where participants bring an item to donate and learn about the donation opportunity ■ Proactively seek public relations opportunities for coverage in Minneapolis area publications. T\' and radio show s ■ Network e.xtcnsively with leading women and men in the community to seek support • Communicate to supporters quarterly through an email newsletter High quality, upscale donations of items o Strategy: Solicit donations from upper income households with a focus on women ■ Women because they control 80” o of the disposable income spending decisions. As such they tend to also control the donation decisions for used items they no longer need • Women because of the personal implications of breast car»cer ■ Upper income because the business model for the shops is based on an upscale, high quality product and brand name strategy. In fact, the Hope Chest Resale Shop ’s success is determined by maintaining a standard and quality of inventory that sets it distinctly apart from other resale shops. o Strategy: Create an exceptional donating experience that encourages repeal donations, un.solicited word-of- mouth promotion and references • Provide pick up service for large items: scheduled in advance, clean van. neatly dressed drivers (Hope Chest logo shirt), polite, rcspcctfL* of property, careful, friendly, on time, thankful for the donation • Arrange for in-store appraisals of high end items • Print a year-to-date summary' of donations upon request • Email reminder in November to donate prior to year end and email annual statement in January' Orono exec summarv.doc # 1