Yerevan: Local Artisan Marketplace
| Category: | |
| Min Investment: | 5K |
| Difficulty Rating: | 5/10 |
A marketplace dedicated to showcasing and selling products made by local artisans and craftspeople in Yerevan. This initiative focuses on building a community around art, craftsmanship, and local products. The platform can include an online store, as well as physical pop-up events where artisans can engage with customers. This startup not only supports local creators, but also appeals to consumers who value unique, handmade goods. By emphasizing storytelling and the unique backgrounds of each artisan, the marketplace can create personal connections between creators and buyers, enhancing the appreciation for local craftsmanship.
Unique Selling Points
- Exclusive access to local handmade products.
- Story-driven marketing showcasing artisans.
- Community-focused events and workshops.
Business Strategy
- Utilize social media to promote artisans and their stories.
- Partner with local arts organizations for visibility.
- Host regular events to bring artisans and customers together.
Market Size Estimations
- Increasing consumer demand for local art and crafts.
- Expansion of online shopping, especially post-pandemic.
Target Users
- Residents looking for unique home decor or gifts.
- Tourists wanting authentic Armenian pieces.
- Art enthusiasts interested in supporting creators.
Revenue Streams
- Commissions on each sale made through the platform.
- Membership fees for artisans wanting a more prominent marketplace presence.
- Hosting events and workshops that require a fee.
SWOT Analysis
Strengths
Direct support to local artisans and community development.
Weaknesses
Building a customer base may take time.
Opportunities
Growing interest in sustainable and unique products.
Threats
Economic fluctuations affecting discretionary spending.
Risk Analysis
- Limited audience reach – invest in online marketing strategies.
- Artisan quality – ensure a vetting process to maintain standards.