In addition, company co-owner, joanna jensen, has worked in the fashion industry for more than 20 years. Her experience includes working with apparel retailers, clothing wholesalers, garment manufacturers, and fashion designers. She understands the fashion industry and knows how to spot the latest trends. While there is no guarantee a competitor will locate within our area, we have no doubt in our fashion sense, outstanding customer service and quality products. In turn we will quickly establish booming boutique as the place for lady baby boomers to shop. Also, we would be the only niche fashion retail-store for hip, older women.
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Marjorie joes Fashion gifts targets writing older women within our meet target demographic, but specializes in the more homemade, old-fashioned style clothing. Petal Place boutique targets women within our target demographic as well, but they specialize in an affordable, folksy style of clothing with handmade shawls and embroidered shirt sets. Second Time Around targets women and may overlap our target demographic slightly. However, they specialize in consignment clothing. There is one super-store within a 60-mile radius of Pleasantville. The store is similar to walmart in that it sells lesser quality items at lower price. But there are two chain department stores. They sell mens, womens and childrens clothing along with home accents, electronics and appliances. While familiarity is comforting, industry research indicates increasing frustration with the inferior quality, sub par customer service and vastness of super-stores. Not to mention, the inept sales staff and lack of selection often found at department stores. 3.4 competitive advantage/barriers to entry to date, our primary competitive advantage is the absence of any store like ours in the Pleasantville area.
Our trained personnel will provide counsel that women simply cannot find at other clothing stores. The service is like a beautician paper who offers advice on what hair styles best complement his/her clients face. Our hip and qualified fashion-industry expertise will ensure our customers walk away with the perfect outfit. 3.3 competition in Pleasantville, there are no direct competitors offering our unique services or targeting Baby boomers specifically. In the downtown District, the shops most closely competing with booming boutique are as follows: EcoWise boutique, which targets a younger demographic and specializes in natural fiber clothing. They also carry local art and jewelry. Caddy corner Kids, which targets parents shopping for children, specializes in childrens clothing, accessories and toys. Kati kouture, which targets younger women, specializes in offering industrial chic clothing with classic lines and a punk gothic edge.
We will implement end of driver season sales, holiday and overstock sales, multi-buy savings and promotional coupons at strategic intervals. 3.2 features benefits, one key feature that separates booming boutique from all other local boutiques and chain department stores in the area is our commitment to providing women of the baby boom generation stylish, quality clothing options. Because our primary concern will be ensuring our consumers are happy with the fit and style of their purchase, we will provide products tailored to all shapes and sizes of women. In addition, we will make every effort to have petite and plus size versions of our merchandise in stock. If they are not in stock, ordering them will be easy, cheap and efficient. Further, booming boutique will not just be a store that sells clothes. Our clientele will benefit from an experienced, knowledgeable sales staff. Out of the gate, our goal is to implement a superior customer service system. Beyond our friendly reception and an inviting atmosphere, booming boutique will also offer customers fashion information and advice.
3.0 products and services.1 description, booming boutique will sell a combination of widely recognized name brands as well as clothing lines from select fashion designers. We will closely follow generational fashion trends as well as our own customers purchasing preferences. Moreover, we will tailor our inventory to meet the needs of our boomer clientele. Solely focusing on the styles, colors and fits to flatter the female baby boomers figure will be our specialty. While apparel, such as business clothing, casual wear, jeans and formal wear will be our main staple, we will also offer some accessories such as belts, scarves, and hats. We will earn profits by selling our merchandise. Our pricing structure will remain flexible, as we will implement suggested retail pricing on common brands as well as the standard practice of keystoning prices. Additionally, we will use a value-based pricing structure, which measures the value of our products to our customers such as easy access, quality, customer service and styles flattering to our target consumer.
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The gorgeous area includes numerous restaurants, an art gallery, coffee shop, candy store and a picturesque park in the town square. We have signed a three-year lease for a 1,700 square foot building at 18 per square foot. Comparable properties are renting for 17-24 SF/Year. Working with the property owner and the city of Pleasantville downtown Redevelopment Committee, we have secured a 2,000 grant to beautify the façade of the building to include painting, signage and a new awning. We will only need minimal internal renovations such as installing dressing rooms and decorative items.
When considering the addition of wall mounts for merchandise, multi-level clothing displays as well as creative floor planning, this facility is large enough to support future growth. Additionally, we will be able to conduct all aspects of our business from this location since it has access to a loading dock and a back office for managers. This includes deliveries and shipments, inventory management and administrative duties such as finance, buying and marketing. 2.5 key assets, our key assets are our co-owners, robin Mathews and joanna jensen, who bring tremendous experience and relationships to this business. Once we launch booming boutique, our primary asset will be our brand, which will convey style, quality and a great shopping experience. In the long-term, it is this brand that will separate booming boutique from other retailers both locally and nationally.
2.0 company.1 company industry, booming boutique will be located in downtown Pleasantville, florida. Our company is a retail establishment selling fashionable womens clothing to up-and-coming Baby boomer retirees. Our business operates within the retail industry and is classified under. Naics code 448120 womens clothing stores. 2.2 legal entity ownership, booming boutique is a multi-member Limited liability corporation formally organized in Florida. Robin Mathews and joanna jensen are the companys principle owners.
We hold equal shares of ownership in the company. 2.3 company history to date, the company is a new business aimed at providing women of the baby boom generation stylish clothing options to buy and wear. As the companys founders and as Baby boomers ourselves, we found that Floridas current boomer-wear market is missing the mark. In fact, most clothing shops for the 55 set are still selling clothes that our grandmothers would have worn. As our local population ages and more baby boomers reach retirement-age and migrate to Florida, we recognize the need for a shop that caters to the up-beat, fashion-forward Baby boomer generation who want to look and feel young. Presently, booming boutique does not have a bricks-and-mortar location. However, we have identified an ideal spot in the downtown district of Pleasantville.
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We will achieve month-to-month profitability within the first year. 1.7 sources use of funds. Booming boutique requires review 282,000 to launch successfully. Weve already raised 62,000 through personal investments and a small community grant. We are currently seeking additional funding from outside angel investors and business loans. Start-up funds will be used for renovations, inventory and operating expenses such as rent, utilities and payroll. Further, most of our initial investment will also be used to purchase retail equipment and inventory software all of which will produce future benefits for the company. A small portion of our investment will be used to create an online clothing store. There are inexpensive e-commerce tools that provide a very easy way to create an online boutique store where we can sell our fashions all over the world.
Jensen holds a ba in fashion business merchandising from Colliers Fashion Institute in miami, florida. Our company will earn revenue from our customers purchases of our products. Booming boutiques first-year income statement illustrates a profit margin of at least fifty-two percent, with a net income of 44,075 per month after taxes. Finally, we have determined our break-even point will equal no less than 15,500 in total monthly sales. We project our annual profits to reach 380,000 by year three. Our company will generate revenue from the retail sale of clothing and other merchandise. First year sales are projected to be 285,000, and we expect sales to surpass 525,000 by the end of year three.
business with an ambitious, targeted marketing campaign, which will include a grand opening event, local media coverage, print advertising and a direct-mail campaign. Our goal is to keep our marketing budget to no more than 5 of our gross annual sales, and we will partner with local organizations such as the Chamber of Commerce and Downtown Merchants Association as often as possible. 1.5 management, robin Mathews and joanna jensen are co-owners and will co-manage booming boutique. Mathews has worked ten years in the retail industry, including four years as the manager of an antique furniture shop. She earned a ba degree in finance from Britannica college in Tampa, florida. Jensens experience lies in the fashion industry. Shes worked with designers, wholesalers and retailers for roughly 20 years.
However, by closely following generational fashion trends as well as our own customers purchasing preferences, we will xmas tailor our inventory to meet the specific needs of our clientele. We will solely focus on the our styles, colors and fits to flatter the lady baby boomer/ meeting the needs of her figure will be our specialty. The total sales reported in the. Retail industry in 2007 (including food service and automotive) exceeded 4 trillion. There are roughly 75 million Baby boomers, half of which are women. In Pleasantville, the current population is just fewer than 40,000. 54 percent of the total population is women who have a median age. The median income is 48,600.
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Sell the hottest trends and fashions with your own retail clothing store or fashion boutique. Use this free clothing line business plan to get your business started, including setting up an online clothing store. Download this, clothing Business Plan free for easy editing business in Microsoft Word:.0 executive summary.1 company, booming boutique is a start-up retail establishment that will sell fashionable clothing to women of the baby boom generation. We will locate booming boutique in downtown Pleasantville, florida, which is a popular retirement and tourist destination. While our initial goal is to open one boutique, expansion plans include potentially franchising our retail store and/or building a well-recognized brand name. In turn, we would hope to penetrate a sizable portion of the online retail market. 1.2 products services, the fashion and retail industry tends to be overly youth focused.