This is essential plxn you must note when launching your clothing line. We will also purchase inventory, a cash register, computer equipment and an inventory management system.
We are positioning ourselves in the market as a medium risk concern with steady cash flows.
You need to check the permit requirements at the city level first, and then state and federal requirements for a tax number so you can collect tax, if tax has to be collected on clothing in your state.
Market research reports for Wholesale Trade-non-durable Goods industry. We want to be part of the activity, part of the memory, part of the tradition of dressing in the latest fashions.
Sell the hottest trends and fashions of the season with your own retail clothing shop. See this business plan to get your business started.– Bruce, Anaheim, CA
Running a clothing store presents you with many elements to consider, such as where to get your clothes, whether to maintain a store front and/or online sales, how.– Kimberly, Corpus Christi, TX
Sell the hottest trends and fashions of the season with your own retail clothing shop. See this business plan to get your business started.– Sandra, Lexington, KY
This business will be a casual urban wear traditional clothing store which will be run by the owners, Nancy Seymour and Joanne Arbor, as a Partnership. It will be located at West Oaks Boulevard, near downtown Hartford, Connecticut. This store will also make business plan clothing store a local market and will serve both youth and adults.
Our intent is to provide the community with unique clothing they would normally purchase outside of the state. A positive cash flow will be produced at the end of the first year. There are no other urban wear stores located within 20 miles of the location selected for this store. Hartford is in an urban city of approximatelypeople which is also a clothinv of Hartford County area containing approximatelypeople.
Joanne Arbor is employed full-time by Central Connecticut State University, which is also adequate support without drawing from the business. Joanne has managerial experience and basic knowledge of accounting. She has at make business plan clothing store 7 years of retail experience. Boston Rags Clothing Store is a retail clothing store specializing in unique clothing and accessories. We encourage customers to be experimental with new clothing styles.
Boston Rags will maintain financial balance while delivering a quality product to our customers. We will make our clothing accessible throughout our community by way of establishing a retail location, fashion shows, and events. We will make a profit and generate cash. We will provide a rewarding work environment and fair compensation to our employees, ultimately provide businees value to our customers, and a fair return to our owners.
The business will be named "Boston Rags Clothing Store. The name make business plan clothing store registered in Hartford County under an assumed name. Boston Rags is designed to help customers change their look without buying an entirely new wardrobe. We will cater to the person wanting to build a new wardrobe by purchasing clothing and accessory pieces to add to clothing they already have. Customers will rely on the business they purchase pieces from to give them continuous help and personal opinions.
Theirs is a business that repeats and it will be easy to establish a strong clientele. Customers will save money from having to buy a complete outfit by just purchasing pieces.
They will also enjoy shopping in stores that are well inventoried and serviced-minded, such as Boston Rags.
Boston Rags will set the pace for urban fashion for all seasons. People like make business plan clothing store buy clothing pieces and accessories to continue wearing clothing that would be out-of-date otherwise.
Boston Rags will also cater to all types of customers and plqn all occasions other than routine shopping. Wives buying gifts for their husbands, friends buying gifts for their m phil dissertation proposal example, etc. Make business plan clothing store profits can be as high as percent on clothing and accessory pieces.
The sales make business plan clothing store profit margins in a specialty clothing and accessory store are higher than the average retail store. We have the opportunity to profit successfully. The urban clothing market is the most exciting, fastest growing market for consumers. They will always look for unique clothing pieces and they will not hesitate to buy them. The business mla essay format examples works cited page be retail sales of urban clothing and associated products.
Nancy Seymour will hold 50 percent ownership and Joanne Arbor will also hold 50 percent ownership. It will be set up as a partnership at start-up and then phase into a Limited Liability Corporation by the second year. The details are included in the following chart and table. It is planned make business plan clothing store start the business in the month of December make business plan clothing store this is the Christmas seasonal month in which retail store are known to have high sales.
Once established, business volume may be somewhat cyclical for that reason. Boston Rags Clothing Store will be located at West Oaks Boulevard, Hartford, Connecticut. The store is approximately square feet. It contains two dressing rooms and a unisex restroom. Parking space is available in front of the store with additional spaces in the rear for overflow.
The are a variety of businesses in the area that include Make business plan clothing store King, White Castle, and a flower poan along with Central Connecticut State University. This variety of businesses creates a constant flow of traffic during most business make business plan clothing store. While a clothing retail store is not unique in itself, this business will have one-of-a-kind items and provide personal one-on-one attention to customers after hours when needed.
The stode hours will be 7 days a week. Store hours will be from 10 A. We will have two full-time employees. We will not be offering benefits for the first couple of years. Make business plan clothing store will do the cleaning of the building. The inventory will be purchased through several vendors that include: We estimate our inventory to turn over 8 times a year.
This accounting firm will be phased out as we learn how to busness the appropriate accounting software to manage our own books. Arbor has combined managerial experience of 12 years and has also taken business management classes at Smith Community College and Hartford Business Institute. She is therefore technically qualified to handle the products the store will offer. Boston Rags will be aided in development by Ventures store out of Boston, Massachusetts, and Wonderkins Store out of New York, New York.
Ventures and Wonderkins sell similar make business plan clothing store to Boston Rags. The owners of Ventures are also close friends of Ms. Boston Rags will also utilize the SBA Business Information Center for additional resources and business training. The owners have referred to an attorney but will not retain an attorney clothlng a later date.
The attorney will be used for recommendations in respect to future incorporation as a Limited Liability Corporation. The attorney will also handle any future permit or certificate needs.
Boston Rags will sell products similar to one hip-hop artist, Mark Zap, who has a store in New York. New growth developments in the urban wear industry have made obtaining the clothing much more simple and easy. This clothing can also be sold at festivals and fashion shows. With such a system Boston Rags can plan purchases more intelligently and quickly recognize the fast moving items make business plan clothing store need to reorder and the slow moving items we should markdown or specially promote.
We will control inventory right at the cash register with our point-of-sale POS software and equipment. Our POS software records each sale make business plan clothing store it happens, so inventory records are always up-to-date. We will get more information about the sale than we would gather with a manual system.
By running reports based on this information, we will be able to make better decisions. Our POS equipment includes electronic cash drawers, bar-code scanners, credit card readers, and receipt printers. Our POS software package includes integrated accounting modules, including general ledger, accounts receivable, accounts payable, purchasing, and inventory make business plan clothing store systems. In essence, our POS system is an all-in-one way to keep track of our business cash flow. The reporting capabilities of our POS programs include sales, costs, and profits by salesperson or by category for the day, month, and year-to-date.
We will count our inventory once every two weeks the count cycle. Processing paperwork and placing orders with our vendors will businesd two weeks the order cycle.
The free resort business plan sample will take two weeks to get to us delivery cycle. Therefore, we will need six weeks worth of inventory from the first day of the count cycle to stay in shore until our merchandise arrives. We will have on hand a six-week supply of inventory and turn it over 8 market america business plan a year.
According to Retail in Detail by Someone who can write my paper L. Bond, clotning sales for a new retail store is very difficult, and loaded with uncertainties. For inventory valuation we will use the Last In, First Out LIFO method. We will sell the most recently purchased inventory first. This method make business plan clothing store also help us pay less in taxes.
Our inventory control system will make business plan clothing store us when to buy replacement inventory, ma,e to buy, what not to buy, and how much to buy. Suppliers will be independent craftspeople, import make business plan clothing store, distributors, and manufacturers.
Steps to conduct a literature review routine problem solving marketing definition established a list of possible suppliers and requested make business plan clothing store, prices, available discounts, and delivery terms.
We have also asked them for customer references. We will also try and establish accounts with these suppliers prior to opening our store. The continuous formation of new musical groups that wear urban clothing helps fuel our business, as does our free music CD store giveaways. According to the Hartford Chamber of Commerce, there are approximatelymales andfemales in Hartford County, totalingpeople.
Of finding derivative problemspeople,are between the ages of 18 and 54 years of age. We will use flyers and other literature to act as our representative. Here are some of our marketing programs and strategies:. Customer loyalty is much more important to Boston Rags than customer satisfaction. We will serve our customers so well they will brag about Boston Rags to others.
This will keep them loyal, and also provide a continual flow of customers. Boston Rags will try out our promotion on a small descriptive essay about chinese food of our target audience before we roll out the promotion to the rest of the target market. Our tests will include variation on our basic offer, on the text or a professional business plan for an app of our message, and on our presentation.
The benefits from testing will provide to us early feedback on the response rates and margins used in our break-even calculations for that particular promotion. Testing will also help us roll out successful ideas and omit the not-so-successful ones. Plam our promotions we will compare results, analyze, track responses, and measure profitability to insure our promotions are stote.
We will increase this amount for our grand opening. We have taken the following steps to insure make business plan clothing store dollars will be wisely spent on advertising. We then compared various proposals and looked at the cost per thousands and negotiated the most attractive deal based on which outlet offers the most cost-effective way of reaching our audience. We will also buy time well in advance to lower the cost.
Our direct mail campaign will begin by getting our name on as many mailing lists as possible. We will then take note of our reaction to each piece of mail we receive and save the ones that communicate most effectively, noticing the colors, key words, and types of inserts that can be cloting to our own mailer.
To get the readers involved we will include stickers that say Yes or No to be pasted on the order form. We will continue to build our direct mailing program with the resources from the Direct Marketing Association DMA. We plan to target our advertising to focus as narrowly as possible to the media that will reach our customers.
Our printed ads will attract attention through a truly arresting headline and visual element. Finally, it will motivate readers to take action. Our printed ads will not be a "hard sell" but it will be an all-out attempt to attract, communicate with, ma,e motivate the reader. Our radio and busienss ads will deliver our message to more customers than any other type of ad campaign. For television ads, we will stick to second spots which are standard in the industry.
Stote understand that generally rates vary widely during the first quarter of the year, and sometimes during the third quarter or late in the fourth quarter, which are traditionally pla seasons for many businesses.
We will try to avoid maie full rates during the rest of the year or during clothimg shows or prime time. We will also stretch our dollar by bartering our products for air time. Stire other methods of marketing will include direct mail, encompassing a wide variety of marketing materials, including brochures, catalogs, postcards, newsletters, and sales letters. Point-of-Purchase POP advertising appears in various forms inside our retail store.
It is designed to influence the buying behavior of our buwiness. POP advertising may take make business plan clothing store forms in our store, each bearing a sales message. Here are a few examples:. According to the U. Industrial Outlook stores selling mostly nondurables accounted for nearly 64 percent total retail sales, with revenues topping 1.
Sales of durable make business plan clothing store totaled billion in current dollars, up more than seven percent from and accounted for 36 percent of the total. From plann the sector as make business plan clothing store whole grew at a rate of approximately 5 percent and represents the second-largest industry in our economy after the service industry.
Retailing has experienced clthing changes during the past decade than etore did make business plan clothing store the preceding generations. In addition, the growth of discount retailers has stode at a rate, some experts claim, three times that of the industry.
This is due primarily to companies like Wal-Mart which has been credited with creating one how to write a qualitative research critique paper of every 16 new jobs in the United States in and to an make business plan clothing store in wholesale membership clubs, such as Toys "R" Us and Circuit City.
Retail customers of the s are significantly different from retail customers of a decade ago, and retail strategies need to be make business plan clothing store in view of the changing demographics and new buying patterns. Boston Rags is located on a strip that includes a variety of businesses, but none of which make business plan clothing store any competition.
Traffic is moderate to heavy, especially near the lunch and dinner hours. The bisiness competing urban wear store is at least 20 miles away, located in the Hartford Valley Mall. According to the Arbitron, SpringU. The Consumer Spending Patterns Report states that the average amount sgore on clothing per household is:. Boston Rags uses a strategy of total market service. Our promise is in our location make business plan clothing store the products we sell, the how to write a report essay pmr we attract, and the atmosphere we create.
We will create an atmosphere that lures make business plan clothing store "Hardcore" urban clothing fans. We are selling the look. We want to be part of the activity, part of the make business plan clothing store, part of the tradition of dressing in the latest makw.
Our location is a very important competitive edge. We are there, right at the point of entering or exiting downtown Hartford. The nearest competitor is at least 20 miles make business plan clothing store. The other competitive edge we have developed is the atmosphere and reputation. Boston Rags will bring a part of the Boston, Massachusetts, urban clothing experience to Hartford, Connecticut. That is why we are developing our fashion shows, musical make business plan clothing store appearances, etc.
This advantage is important to us because our prices are slightly higher than other urban wear store locations in Connecticut. We will also offer more personal attention to our customers than the larger mall retail stores. We have clothin connections to one of the top urban wear retailers in Boston, Massachusetts, called Ventures. It is the intent to start the business selling the clothing people need to create a unique image of themselves.
This includes stkre prints, colors, and styles. Some clohting our special events will include:. Special events give Boston Rags powerful vehicles to promote our image, products, merchandise, services, and to generate goodwill to the public.
Boston Rags will use these special events to attract customers, sell products, earn profits, make markets aware sfore vusiness developments, and make communities aware of their policies, goals, and purposes. We will not be offering credit to make business plan clothing store customers. We will accept checks with the assistance of a check verification company.
This check verification company offers check businexs and check guarantees. So, if clotthing check has been approved by this company and it turns out to be bad, the company will reimburse us for the value of the check, eliminating our risk of getting paid. We will accept all ubsiness credit cards. It will give us the chance to increase sales by enabling customers to bbusiness impulse buys. It will improve our cash flow because we will receive the money within a few days.
It also guarantees we will be paid. During the valley periods we will concentrate on a saturation dtore special events and sales. We will also do holiday specials. There will be some make business plan clothing store, but it will take some experience to ascertain it. Summer months will probably be lower than winter.
Computations are base on a percent markup. Arbor have begun to build strategic alliances to assist them with business and inventory issues. Retailers of nondurable merchandise face a dual challenge clothiny a slow-growing market and changes in demographics and consumer buying habits that have spawned structural changes within the industry.
Boston Rags will adjust our competitive strategies to clothong new realities and take advantage of new marketing techniques clothinng electronic retailing, catalog marketing, a smaller store, and improved customer service. By completing these tasks we can succeed in improving our market position in the changing retailing era of the s and beyond. Arbor has over seven years of experience in retail plsn and over five years of managerial experience.
She has held positions of responsibility which required meeting company objectives. She receives a clothint salary from her current job to support her during the incubation period of her business. She will cloting the store on a daily basis. She, along atore co-owner Ms. Seymour, will hire two staff persons to how to write a psychology research proposal full-time in the store.
One person will be responsible for operating the businses register and loss paln. The other person will be responsible for customer service and inventory stre. Seymour will oversee stre operations along with Ms. Both owners believe very strongly that relationships should be forthright, work should be structured with enough room for creativity, and pay should commensurate with the amount and quality of work buxiness. No person is bbusiness than another, except in ability, knowledge, and experience.
Therefore, we have taken the time to make sure all those overseeing the store and those working directly in the store have the qualifications busniess to help build our professional image.
It is the intent for the owners to be the key manpower in starting this business. They will be assisted by two full-time employees during certain hours. Mmake resources include the local University and Career Alliance. Moira has seven years of retail management experience in the area businezs cashier and loss prevention. Rhonda has nine years of experience in the area of customer service and inventory control.
Both of these employees have an exceptionally high level of retail experience and professionalism needed to deliver clothin customer service for our customers and management of our store. Our financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions.
Boston Rags will have a profit-to-sales ratio of just over 27 percent. Normally, a start-up concern will operate with negative profits through the first two years. We will avoid that kind of operating loss by knowing our competitors and our target markets. Scarlet ibis book essay are positioning ourselves in the market as a medium risk concern with steady cash flows.
Accounts payable is paid at the end of each month while sales are outline for advertising research paper cash and credit cards, giving Boston Rags an excellent cash make business plan clothing store. All of our tables will be updated monthly to reflect past performance and future make business plan clothing make business plan clothing store Future assumptions will not clothinh based on past performance but rather on economic cycle activity, regional industry strength, and future cash flow possibilities.
We expect solid growth in net worth beyond the year Makf following table shows the projected ratios. We expect to maintain healthy ratios for profitability, risk and return. Encyclopedia Encyclopedia of Small Business Encyclopedia of Business Encyclopedia of American Industries Encyclopedia of Management Other Business Plans Trademark Encyclopedia History Business Biographies Company Histories Company Histories Part 2 Leading American Businesses Forum.
Home Business Plans Handbook Business Plans - Volume 09 Retail Clothing Store Business Plan Triz creative problem solving Clothing Store.
This probably the most unrealistic business plan I have ever seen. Do not heed this as a good make business plan clothing store A retail clothing store businese buy product to fill shelves from brands and distributors for one year, sometimes six months.
So whatever you project to gross in Year One, you must have at least half of the product cost, of the first projected month, available as cash on hand. Designing, buying fixtures, branding, construction and POS integration are immense start-up costs requiring cash on hand.
Then months wages, rent deposit according to lease agreement also need to be available. Owner-operator obviously more profitable. Literally under them poverty line. A store that size will not be able to reach the minimum orders required by the major distributors offering margins, based on financial, storre output, initial traffic and relational market restraints.
Especially, if as a distributor, you do not know if the buyer busiiness pay their bills.
Travel expenses to attend trade shows and make business plan clothing store trips to meet olan vendors, and purchase product for upcoming seasons. Be sure to make business plan clothing store extra wages to be able to operate the store sufficiently. Also, two items in the room, but you are selling the look not the items? How do you expect to add-on wardrobe? TO properly wardrobe make business plan clothing store customer, minimum of 3 items will be in the room at all times.
At least per season clothung Why clofhing you need a store poan big? It will look empty mining company business plan the amount of product you busoness.
And 44cents a square foot for commercial retail space, per month! That is a dumb number. You do ;lan want to be at a location with rent that cheap, and that number is unheard of in the industry for the make business plan clothing store you want. The spreadsheets are well-formatted, but the dollars clothimg logistics of this research proposal examples topics for presentation plan are garbage.
Do not use this as a source! Go talk to someone in the industry! Comment about this article, ask questions, or add new information about this topic: Show my email publicly. Type the code shown: Retail Business Incubator Science Information Website Company. Profit and Loss Income Statement Dec.
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