Womens Clothing Boutique Business Plan

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Table of Contents
1.0 Executive Summary...............................................................................................................................1 Chart: Highlights..................................................................................................................................2 1.1 ission...............................................................................................................................................2 1.2 !eys to Success..................................................................................................................................2 1." #b$ectives.........................................................................................................................................." 2.0 Com%any Summary..............................................................................................................................." 2.1 Start&u% Summary.............................................................................................................................." Table: Start&u% 'un(ing......................................................................................................................." Chart: Start&u%......................................................................................................................................) Table: Start&u%.....................................................................................................................................) 2.2 Com%any #*nershi%.........................................................................................................................+ ".0 Pro(ucts an( Services............................................................................................................................+ ".1 Exclusive Personal Services.............................................................................................................., ).0 ar-et .nalysis Summary..................................................................................................................../ ).1 ar-et Segmentation.........................................................................................................................0 Table: ar-et .nalysis........................................................................................................................1 ).2 Target ar-et Segment Strategy.......................................................................................................1 )." Service 2usiness .nalysis...............................................................................................................11 ).".1 Com%etition an( 2uying Patterns.............................................................................................1) +.0 Strategy an( 3m%lementation Summary...............................................................................................1, +.1 Sales Strategy...................................................................................................................................1, +.1.1 Sales 'orecast............................................................................................................................1/ Table: Sales 'orecast.....................................................................................................................10 Chart: Sales onthly.....................................................................................................................11 Chart: Sales by 4ear......................................................................................................................11 +.1.2 4ear #ne Sales Plan..................................................................................................................20 +.2 Com%etitive E(ge.............................................................................................................................22 +." ar-eting Strategy...........................................................................................................................22 +.) ilestones........................................................................................................................................2" ,.0 5eb Plan Summary.............................................................................................................................2" ,.1 5ebsite ar-eting Strategy............................................................................................................2) ,.2 6evelo%ment 7e8uirements.............................................................................................................2) /.0 anagement Summary........................................................................................................................2) /.1 Personnel Plan..................................................................................................................................2, Table: Personnel.................................................................................................................................2/ 0.0 'inancial Plan.......................................................................................................................................2/ 0.1 3m%ortant .ssum%tions....................................................................................................................20 Table: 9eneral .ssum%tions..............................................................................................................20 0.2 2rea-&even .nalysis........................................................................................................................20 Chart: 2rea-&even .nalysis...............................................................................................................20 Table: 2rea-&even .nalysis...............................................................................................................21 0." Pro$ecte( Profit an( :oss.................................................................................................................21 Page 1
Table of Contents
Chart: Profit onthly.........................................................................................................................21 Chart: Profit 4early............................................................................................................................"0 Chart: 9ross argin onthly............................................................................................................"0 Chart: 9ross argin 4early..............................................................................................................."1 Table: Profit an( :oss........................................................................................................................"1 0.) Pro$ecte( Cash 'lo*........................................................................................................................"2 Table: Cash 'lo*..............................................................................................................................."" Chart: Cash.........................................................................................................................................") 0.+ Pro$ecte( 2alance Sheet..................................................................................................................."+ Table: 2alance Sheet.........................................................................................................................."+ 0., 2usiness 7atios................................................................................................................................", Table: 7atios......................................................................................................................................", Table: Sales 'orecast...................................................................................................................................1 ......................................................................................................................................................................2 Table: Personnel..........................................................................................................................................." ......................................................................................................................................................................" Table: 9eneral .ssum%tions........................................................................................................................) ......................................................................................................................................................................) Table: Profit an( :oss..................................................................................................................................+ ......................................................................................................................................................................, Table: Cash 'lo*........................................................................................................................................./ ......................................................................................................................................................................0 Table: 2alance Sheet....................................................................................................................................1
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6e !lie- Style Stu(io
9.+ C6ecutive #ummary &%er%iew Be Dliek #tyle #tudio is an upscale womenEs clothing bouti-ue that will open in Fuly this year. Be Dliek, which means Gthe cli-ueG or Gcircle of friendsG in Butch, defines the bouti-ue and its essence of inclusion. Be DliekEs clothing selections and e6clusive personal style services, which include a detailed #tyle Assessment, will ensure that our customers are well dressed. Be Dliek is a woman:owned business currently organiHed as a #ole roprietorship. Clothing for stylish women Be Dliek will carry 7eady:to:Wear $7.W& designer and casualIcontemporary apparel J accessories for women, and will be the e6clusive A.#. home of the Kerman line, Lerr )rau. ,n addition to the fabulous Lerr )rau line, Be Dliek will feature other choice selections by American and Curopean designers such as Locken, Weekend Ma6Mini, .osca and 1atherine the Kreat. .he Be Dliek customer is a busy professional woman who lives in Los Angeles with a household income over N9++D. #he enjoys the bouti-ue fashions and wants a place where she can go to get services that meet her busy lifestyle. 'ni()e * inno%ati%e Be Dliek will provide services such as #tyle Assessments, alterations, personal shopping, and special ordering to customers during store hours and by personal appointments. #tyle 1oncierges who are trained within the image industry will be available to customers on a daily basis. Be DliekEs innovative #tyle Assessments and educational emphasis in helping women develop their personal styles will enhance our reputation as a truly uni-ue bouti-ue. +etting the word o)t Be Dliek will generate awareness and sales by utiliHing 7 tactics and the referral networks of personal stylists. Additionally, Be Dliek will meet our customers where they are, focusing on how women approach shopping by obtaining mentions and reviews in the top fashion publications, travel guides and local papers. ,anagement With over 9* years e6perience in marketing and retail, owner Orootje Magen has gathered the e6pertise to complement and grow the business. Pur advisory team holds e6pertise in retail accounting, retail merchandising, legal contracts, fashion and design. A detailed project plan has been created and all tasks are on schedule. 'uying for the )allIWinter season was completed in April, and store design and marketing elements are currently being finaliHed. -inance #tart:up costs include inventory for the first month, and are estimated at N9Q*,=++ of which the owner will inject Q9.R3. 1urrent owner investments are documented at appro6imately NR9,=++, of which N9*,=++ is in savings and checking. An additional injection of appro6imately N;,=++ will occur by Fuly 92 of Year 9. Annual gross sales are projected to grow from N29Q,+++ in the first year to over N>++,+++ by Year Q, with appro6imately 9+3 from customer special orders. .hese #ales forecasts are appro6imately three:-uarters the average of benchmarked Los Angeles bouti-ues. 5et profits are e6pected at appro6imately >3 through *++=, with reinvestment of 23 for growth initiatives.
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Be Dliek will hold 1ost of Koods #old at roughly Q<3 of sales revenues@ we intend to maintain this appro6imately >93 markup throughout the ne6t five years. Bue to the demand for up:to:date fashions, inventory turns are projected at 2, which is higher than the industry average of R.
1hart! Lighlights
9.9 Mission .o provide women with a bouti-ue that offers a comfortable and approachable environment .o showcase -uality, well:constructed fashions from prominent and cutting:edge designers .o offer a variety of beautiful and high:end fashion accessories .o help women learn what clothing and styles go best with their uni-ue personalities .o generate buHH and sales through top:notch e6clusive services
9.* Deys to #uccess 9. Laving a good location in a high:shopping area *. Suality product and good relationships with vendors Q. Putstanding customer service
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9.Q Pbjectives .o turn inventory five times and generate N;++ in sales per s-uare foot .o maintain profit margins at 92:*+3 through close attention to e6penses and cost of goods sold .o drive awareness and build sales through mentions in both local print and the nationEs top fashion magaHines
*.+ 1ompany #ummary Be Dliek #tyle #tudio is an upscale womenEs clothing bouti-ue that intends to open in 5oe Oalley in Fuly. Be Dliek means Gcli-ue or circle of friendsG in Butch@ this defines the bouti-ue and its essence of inclusion. Be Dliek carries beautiful designer labels for professional women, such as the sophisticated silhouettes of Lerr )rau and lu6urious Famin uech handbags. Be DliekEs clothing selections and e6clusive personal style services, which include a detailed #tyle Assessment that features nine different style personalities, will ensure that our customers are always well dressed. *.9 #tart:up #ummary .his business plan will be used for three purposes! .o map out all the necessary components to create a successful and well:run bouti-ue .o provide management with a blueprint to follow .o secure financing through private institutions and investors
.he #tart:up .able which follows details the #tart:up 7e-uirements, including #tart:up ,nventory and Long:term Assets in the form of )i6tures and P# C-uipment. #tart:up )unding will consist largely of owner investment and a long:term loan from the #mall 'usiness Administration. .he #tart:up eriod for this plan runs from Fanuary through Fuly. Be Dliek will open on Fuly 92, and we project real sales beginning in August of Year 9. .able! #tart:up )unding
Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund Total Funding Re uired Assets #on-$as% Assets &ro' Start-up (as% Re uire'ents &ro' Start-up Additional (as% Raised (as% )alan$e on Starting *ate Total Assets $80,099 $7,500 $0 $7,500 $87,599 $45,108 $87,599 $1!",707
+ia,ilities and (apital +ia,ilities (urrent )orro-ing $0
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+ong-ter' +ia,ilities A$$ounts .a/a,le 01utstanding )ills2 1t%er (urrent +ia,ilities 0interest-&ree2 Total +ia,ilities (apital .lanned 3n4est'ent 1-ner 3n5e$tion 3n4estor 1t%er Additional 3n4est'ent Re uire'ent Total .lanned 3n4est'ent +oss at Start-up 0Start-up Expenses2 Total (apital
$90,000 $0 $0 $90,000
$41,707 $1,000 $0 $0 $4",707 0$45,1082 0$",4012
Total (apital and +ia,ilities Total Funding
$87,599 $1!",707
1hart! #tart:up
.able! #tart:up
Start-up Re uire'ents Start-up Expenses 3nitial *eposit +ease%old 3'pro4e'ents Rent &or 6o7 o& 3'pro4e'ents $0 $"0,000 $!,000
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3n4entor/ Anal/st .ro&essional Fees 3nsuran$e 8eneral Startup (osts 6ar:eting; .a$:aging, .R, *esign Total Start-up Expenses Start-up Assets (as% Re uired Start-up 3n4entor/ 1t%er (urrent Assets +ong-ter' Assets Total Assets Total Requirements
$1,800 $1,050 $1,008 $9,900 $11,!50 $45,108
$7,500 $55,500 $0 $"4,599 $87,599 $1!",707
*.* 1ompany Pwnership Be Dliek has been established as a #ole roprietorship due to the ease of formation, and simplicity of the structure and ta6 record keeping. ,n the future, Be Dliek will look at forming an # 1orporation when another location is opened. .he following legal protections, permits or licensing are re-uired! LA 1ounty 'usiness .a6 7egistration 1ertificate $1omplete& LA 1ity )ictitious 'usiness 5ame #tatement $1omplete& LA ayroll C6pense .a6 #tatement 1A #tate #ellerEs ermit $1omplete& LA )ire Bepartment ermit
Q.+ roducts and #ervices Be Dliek will carry 7eady:to:Wear $7.W& designer diffusion lines and casualIcontemporary apparel J accessories for women. Be Dliek will carry three main 7.W lines $Lerr )rau, Locken J Weekend Ma6Mini& along with various American J Curopean labels such as 1atherine the Kreat, Language, Oince, Fames erse and Fames Feans. Be Dliek will also carry designer fashion accessories such as Famin uech handbags, Achoo anto scarves and wardrobe accessories such as .osca Belicate, sachets, lint brushes and various Be Dliek branded items. APPA./0 0I1/S Lerr )rau ) Line Weekend Ma6Mini Locken 1atherine the Kreat .osca Koat .welfth #treet Fames Feans AK Feans Oince .rina .urk hilosophy di Alberta )erretti
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ACC/SS&.I/S Wardrobe Accessories! o Lint 'rushes o .osca Laundry #oap o #tylist:in:a:bo6 o #achets o Langers )ashion Accessories! o Local designer jewelry o Famin uech Landbags o 'elts, #carves, Kloves, Lats o ,lu6 and .anjane Lingerie
#ome of the key lines are detailed below! 2err -ra) " 33 " Antwerp 4 2err -ra) 5ot found in the A.#., this Butch designer has a couture line $Lerr )rau& a diffusion line $ BB& and a betterIcontemporary line, Antwerp. Launched in the mid:;+Es, Lerr )rau won the G'est 5ewcomerG award at AlteModa in 9<;= and has continued to deliver G)rench style with Butch seamsG to her loyal customers. #he currently has three bouti-ues worldwide $in aris, .okyo J Antwerp, where Lead-uarters are located& and very soon will be sold on the West 1oast e6clusively at Be Dliek. #ince the early 5ineties, the Lerr )rau label has shown at Milano 1olleHioni, where Be Dliek has viewed and e6clusively purchased their line for )all *++R, for Los Angeles and the West 1oast. 5eekend ,a6,ini * Sport,a6 Ma6Mini is the epitome of ,talian fashion! good -uality and cut in classic styles. Lawyer:turned: dressmaker Achoo Marmet founded Ma6Mini in 9<29, and it is now one of ,talyEs largest fashion houses. Ma6Mini has a large A.#. presence through their bouti-ues and within selected upscale department stores. Weekend Ma6MiniEs goal for *++R is to gain presence in smaller bouti-ues and they are very e6cited about Be Dliek. .heir designs are changing with a new designer on board, and their last collection was se6y yet still professional. Be Dliek has viewed their line and will be carrying their )all *++R collection. Catherine the +reat 1atherine the KreatEs designs are considered feminine and elegant. 'orn in 7ussia, the Kreat began her career in aris, working in the houses of Cmanuel Antidy, Louis )raud, and at Ct .ubrute. ,n 9<<; she came to the A.#. as Banae Oan )eurbachEs head designer. #ince starting her own label, 1atherine the Kreat has created cutting:edge clothing that enhances a womanEs natural femininity. Ler attention to individualism e6plains why icons such as Madonna, #arah Fessica arker, Lalle 'erry, and 5icole Didman are among her many enthusiasts. Be Dliek will be carrying her )all *++R collection, e6clusively in LA. Q.9 C6clusive ersonal #ervices Personality Style Assessment .he #tyle Assessment $in Appendi6 A& is a one:page -uiH, developed by Lise 'akke and Be Dliek owner Orootje Magen, based on the highly regarded Cnnegram that helps a woman determine the appropriate styles for her personality. .he assessment helps a customer define her personality by providing her style words $e.g. engaging, romantic, modern& to choose from
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along with tips on what clothing works well for her style personality. #tyle ,cons are also provided to help her visualiHe the appropriate look. .here is normally a small fee for the assessment, but customers are able to take the #tyle Assessment for free at the #tyle #tudio when they make cumulative purchases of N*2+. After each customer completes the -uiH in the studio section of the bouti-ue, she will receive a laminated Be Dliek wallet card to carry around as a shopping reminder that lists her style personality type, style words, style icons and clothing styles appropriate for her. -)ll and Self"Ser%ice 75hat8s 1ew7 B)lletin. 'ehind the cash wrap area there will be a bulletin board that is fre-uently updated and that lists and displays the following details! o o )eatured Besigner : .his will show a profile of one of the designers Low to Wear : .his will show how to wear a particular item for work, weekend and going out 1oming #oon : .his will feature items coming into the bouti-ue soon #ervices : .his will list all the additional style services that Be Dliek offers
o o
Coterie Clothing Tags. Cach clothing tag will have the corresponding #tyle ersonality numbers listed to help customers determine which pieces are best for them Style Concierges. Be Dliek believes in bringing the best service to our customers. As such, all sales associates are called #tyle 1oncierges. Pur #tyle 1oncierges will be trained and participating members of the Association of ,mage 1onsultants ,nternational. .hey will be available to assist customers with their #tyle Assessments, wardrobe planning, special orders and personal shopping. ,f a customer is pressed for time, she simply calls Be Dliek to set up an appointment and there will be someone there to greet and assist her beyond normal business hours.
R.+ Market Analysis #ummary .here are various economic forces that affect apparel retailers. 1onsumer confidence is the most important@ people donEt shop when they are not feeling good. Anemployment also has an effect, in that fewer women out in the workforce means less disposable income for high:end -uality clothing. .hus, the large discounters $.arget, #ears and WalTMart& are now working with top designers to bring designer apparel to the masses. Although they canEt compete on -uality, their continued development of the trend could have a direct impact on retailers who sell designer clothing during tough economic times. )ortunately, the lu6ury goods market, of which Be Dliek is a part due to the high:end brands it will carry, has remained recession:proof, as clearly indicated by the successful *++Q results for 1oach, .iffany and #aks. According to WomenEs Wear Baily, lu6ury firms forecast a strong *++R, particularly for accessories and footwear. Lowever, the strong Curo and slowdown in wealth creation are big concerns and managing a balanced -uality:price ratio is the key to success for lu6ury retailers. G)ashion is a re-uirement for those who are high in their success.G :Lu6ury 1onsumer
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,n the lu6ury market, lu6ury consumers $defined as GaffluentsG who have household incomes of over N9++D& spent more in *++Q than *++*. U9V 'ased on focus groups, Anited Marketing believes lu6ury consumers see apparel and accessories as more of a necessity than a lu6ury. .his is good news to bouti-ue retailers. .here are over ;++ clothing bouti-ues in the LA Area@ appro6imately 9< percent of these generate over N2++D in sales.U*V ,n fact, womenEs clothing stores in Los Angeles have a >*3 higher sales growth rate than the national average@ this can be attributed to the fact that the average household in Los Angeles is considered affluent. ?????????????????????????????????????????????? 9& Lu6ury Market 7eport, Anity Marketing, *++Q *& Local Marketing 7esearch rofile of LA, 'iHminer, Fan. *++R. R.9 Market #egmentation ,arket 1eeds ,f you were to overhear women talking in a dressing room, you would more than likely hear them comment on something theyEve tried on and -uestion how they should wear it or what it will go with in their closet. 7esearch has shown that women are stressed, have little time to shop, and would generally like help in determining the right clothes and styles to wear. With over >9 million A.#. women between the ages of *2:2R spending over NQR billion in apparel each year, there are sure to be some mistakes made in clothing choices. .elevision shows such as ''1Es GWhat 5ot to WearG and #tyleEs G)ashion CmergencyG clearly speak to a womanEs confusion about what looks best on her. Cven women who can afford a professional stylist feel helpless and often jokingly re-uest that their stylist come to their home every morning to help them get dressed. GWithin a decade, the companies that do the best job of marketing to women will dominate every significant product and service category.G :)aith opcorn Pne gender in particular influences the majority of the retail marketplace! women. Women comprise 293 $9R2 million& of the A.#. population U9V and control or influence ;93 of all household purchase decisions. U*V Women are now earning more college and masterEs degrees than men, which translates into more senior positions J higher pay. UQV Pverall, women represent R=3 of the total A.#. civilian workforce and as that continues to grow, demands for their time also increase. 'alancing work and family are the W9 concerns for women and almost half Ghardly everG take care of their personal needs@ one out of five women would like to have time to do a little shopping% URV 7esearch indicates that women approach retail shopping uni-uely by evaluating purchases based on product and company information derived from both personal and e6pert sources. Additionally, surveys consistently reveal that women buy based on the relationship they forge with a brand. U2V, U>V #tatistics, studies, and our own personal e6periences show us again and again that e6cellent customer service lowers customer attrition rates, fosters e6cellent word of mouth and most importantly, increases sales. .he table below shows that out of the ten characteristics consumers find important in deciding where to shop, four were attributed to customer service.
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.op .en )actors in Beciding Where to #hop! U=V .eason 9. Las reasonable prices *. .reats customers with respect Q. 1arries -uality merchandise R. BoesnEt pressure me to buy anything 2. 1onvenient store hours >. Landles merchandise returns fairly =. , can always find what , want ;. 1arries a wide variety of items $e.g. colors, siHes& <. Las outstanding customer service 9+. Makes it -uick and easy to shop #$$$ =;3 >> >> >9 >9 >+ >9 2= 22 2Q #$$# ;23 =R =* =+ >; >> >2 >R >Q >9 Change X= X; X> X< X= X> XR X= X; X;
??????????????????????????????????????????????? #ources! U9V U*V UQV URV U2V U>V U=V #tatistical Abstract of the A.#., *++*@ 'ureau of Labor #tatistics, Fune *++Q 'usinessWeek G.he 5ew Kender Kap,G May *++Q 5ortheastern Aniversity 1enter for Labor Market #tudies Fones 5Y #ponsored #urvey of ). Working Women, #elf, May *++Q Dim . Kordon, G1hick Magnet,G Cntrepreneur MagaHine, March *, *++* 1onnie Myers, GWhat Bo Women WantY Marketing,G Atah 'usiness, #ept *++* Yankelovich Monitor, GKetting the Koods,G May *++Q
.able! Market Analysis
Market Analysis <ear 1 .otential (usto'ers =ig%-3n$o'e >o'en, !0?, in t%is area .ersonal St/list (usto'ers Total 8ro-t% 5@ !0@ 5715@ ",400 10 ",410 ",5"0 1! ",5!! ",949 17 ",99! ",778 "" ",800 ",917 "9 ",949 <ear " <ear ! <ear 4 <ear 5 (A8R 5700@ !0750@ 5715@
R.* .arget Market #egment #trategy Los Angeles is rated amongst the top A.#. markets in economic and educational achievements. At an average age of R+, the Los Angeles professional is highly affluent, with an average family household income of N9;+,<+Q and a median home value of N>**,9=+. 1lose to 2+3 have a bachelorEs degree and R+3 of these professionals hold a postgraduate degree. Be Dliek customers will learn about the bouti-ue through the following sources!
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LA 5eighborhood #torefront )riends J 1ustomers $word of mouth and email& ersonal shoppers and stylists WomenEs )ashion MagaHines articles and reviews such as W, Lucky, Marie 1laire and Oogue Local press mentions J ads .ravel and shopping books and websites
The Primary C)stomer 91: .he primary Be Dliek customer is a professional woman with a household income over N9++D. Ler main characteristics are listed below! 3emographics rofessional woman $ages Q+:22& Lousehold income over N9++,++ 1ollege:educated Lives in a higher:income LA neighborhood
Psychographics Looks for bargains $seasonal fashion& but willing to spend money on -uality, core items Would like more time or help in understanding what clothing is right for her #he wants to look her best because she wants to feel good about herself as well as make a good impression at her job
0eis)re Acti%ities Listens to 5 7 #upports the Arts 7eads Oogue, 5ew Yorker, 'on Apetit, Lucky Watches 'ravo, ''1, L'P ,nternet savvy .ravels, owns a passport #he enjoys eating out as well as taking time for herself at the spa or getting a mani:pedi
Clothes Shopping Beha%iors #pends over N*,2++ for clothes each year #hops at 'outi-ues, 5ordstroms, and 'anana 7epublic Wears a siHe >, ;, or 9+ 'uys mostly tops and pants Looks for classic, basic items each season, with 9:* trendy items #he cares about how she presents herself, enjoys fashion, and looks for -uality over -uantity
C)stomer needs, e6pectations and ;)ying patterns 9#: .he Be Dliek customer loves to shop and enjoys going to bouti-ues. #he is knowledgeable about designer fashions and tends to shop for seasonal wardrobes twice a year plus picks up
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various fashion and basic pieces throughout the year. Many times she shops to Gbrowse.G 'y offering fashionable accessories and wardrobe organiHation items, Be Dliek will be able to grab a larger share of her wardrobe budget. #he is used to coming into the store and browsing through the clothing items and trying on what interests her. #he e6pects a warm and comfortable environment and nice dressing rooms. #he enjoys being left alone but also enjoys the special touches of personal shopping assistance and having the ability to special order items. #he wants fun and catered shopping events in the evening and also enjoys receiving special notices on sales and participating in trunk shows to garner more savings. #he is also at a Birector to 1CP:level job and could potentially be reached through her office for personal shopping services or through her own personal stylist who is a member of A,1,. ????????????????????????????????????????????? U9V GWhy eople 'uy,G am BanHiger, *++Q U*V Oalley profiles@ Be Dliek #hopping 'ehavior 7esearch of LA Women, Pct *++Q R.Q #ervice 'usiness Analysis Be Dliek is considered a lu6ury bouti-ue within the WomenEs 1lothing #tore ,ndustry $5A,1# RR;9*+ or #,1 code 2>*9&. WomenEs 1lothing #tore sales represent *+3 of the 1lothing #tore ,ndustry Kroup, which translates to N*=.* billion during 9<<=, and NQR.R billion in *++*. .he retail sector is the second:largest industry in the Anited #tates, both in number of establishments and number of employees. ,t is also one of the largest industries worldwide. .he retail sector employs over *Q million Americans and generates more than NQ trillion in retail sales annually. 7etail sales usually see a *:23 growth each -uarter. Although *++Q was difficult, sales have slowly grown from 9.R3 in S9, to Q.93 in S* to an estimated 2.;3 in SQ according to the 57). Pverall retail sales account for two:thirds of the nationEs economic activity, and the holiday season accounts for *+:R+ percent of total retail sales. U9V .he 1lothing J Accessories #tores subsector of 7etail has seen sales growth of 9<3 over the last five years from N9Q=.> billion in 9<<= U*V to N9=9.; billion in *++* UQV. 'usinesses in the 1lothing and 1lothing Accessories #tores subsector sell new clothing and clothing accessories merchandise from fi6ed point:of:sale locations. Cstablishments in this subsector have similar display e-uipment and staff that is knowledgeable regarding fashion trends and the proper match of styles, colors, and combinations of clothing and accessories to the characteristics and tastes of the customer. Although the holiday season is the key indicator of retail health, according to the 5ational 7etail )ederation, the holiday season accounts for only 923 of total apparel sales. A good holiday season is typically followed by a good economic year and analysts predict retail sales will rise a total of R percent in *++R. .otal sales for *++Q were up Q.* percent. Additionally, online holiday shoppers spent a record N9;.2 billion during the holiday season URV :: a Q2 percent increase over the N9Q.= billion spent in *++*. Lu6ury retailers and upscale department stores were the une6pected market leaders during the *++Q holidays with 5ov:Bec sales up 92 percent. Analysts state that as consumers see their investments increase, they spend more.
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'.S. .etail Ind)stry <ey -acts
5omen8s Clothing Store Ind)stry la Area -acts 9!:
.he *++* average for shrinkage is .here are ;;; womenEs clothing 9.93, with .=3 being attributed to store establishments in the Los employee theft and .R3 attributed to Angeles area shoplifting. U>V Lighly fragmented Pne out of every three small business clothing retailers fail
Many have highly seasonal sales and Average small business sales! therefore seasonal inventory levels N*R2,Q=; Average retailer has one store with less than N9 million in annual revenue *23 of womenEs clothing retailers generate sales over N2++D
May operate stand:alone stores in #mall business clothing stores urban locations or from leased space employ on average, Q employees in shopping centers 7etailers often have high gross 1lothing store startups in LA are 2 margins, close to R+ percent in many percentage points below the industry businesses average Wages are relatively low Average annual inventory turn for bouti-ues is five times
LA 1lothing #tores have a higher Cmployee turnover in the than average growth rate with a retailIwholesale industry is very high, sales inde6 of 9.>* : >*3 higher as much as Q+ percent than the industry norm Merchandising : buying goods that will sell : is the main preoccupation of most retailers :
#$$= &)tlook .he outlook for sales and earnings in *++R is bright, with especially strong results e6pected in the first -uarter U=V. .wo trends should dominate retail fundamentals in *++R! #trong first -uarter sales due to an estimated N>+ billion in ta6 refunds and lower ta6es hitting consumersE pockets in March and April, and a potential slowing of sales in the final three -uarters of *++R against the tougher comparison of *++Q. Additionally, industry e6perts predict growth in the specialty store segment of which Be Dliek is a part. C)rrent Trends eople are shopping online for convenience J value@ growth of sales on the ,nternet 1ontinued decline of the mom:and:pop store Pverbuilding by specialty stores and other chains 7epositioning of full:priceImulti:line department stores #upremacy of the discount store chains
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1ategory:killer superstores 1ontinuous changes in demographics, tastes and fashions Casy availability of consumer credit Bwindling appeal of the major mall
/conomic, C)lt)ral and /n%ironmental Conditions Weather, seasonal events, holiday shopping, competitor marketing, LA tourism, the 'ay Area economy and the strength of the dollar can all affect the performance of Be Dliek. Pn a macro: economic level, consumer confidence, interest rates and inflation rates all have an effect. 7ising unemployment, political concerns and deflation also pose risks. Positi%e -actors> Clothing Ind)stry Oery low interest rates Casy availability of consumer credit 7elatively low unemployment, and very low inflation A relatively low personal savings rate Impact on 3e <liek 1ost of financing low Ligher ticket siHes on credit card purchases #table employees J businesses ,ncreased consumer spending
$ ositive side of!& #ignificant continued layoffs at Ligher:educated larger corporations re-uire job migration employees
1egati%e -actors> Clothing Ind)stry Weakening consumer confidence $influenced by global terrorism, tension J uncertainty& #trong Curo #lowly increasing unemployment Impact on 3e <liek Becreased sales Lower margins Oalue and sale shopping $can also be positive impact&
Becreasing levels of consumer household wealth 1ontinued GcocooningG due to stock portfolios and R+9$k& plans that have by customers seen huge losses 1onsumers with record high debt levels are defaulting on credit card balances, home mortgages J loans at an alarming rate ,ncrease in returns
$5egative side of!& #ignificant continued layoffs at 7eduction in working larger corporations re-uire job migration and lead women who can buy to large numbers of consumers employed as temp lu6ury items workers
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????????????????????????????????????????????? U9V 5ational 7etail )ederation trade group, WomenEs Wear Baily, <I9=I+Q U*V A.#. Cconomic 1ensus, 9<<= UQV *++Q Loliday #urvival Dit, 57) URV e#pending 7eport from Koldman, #achs J 1o., Larris ,nteractive and 5ielsenI5et7atings, Fan *++R U2V 'iHMiner, Becember *+Q, 'ay Area WomenEs 1lothing #tore Bata, *++9:*++Q U>V *++Q 5ational 7etail #ecurity #urvey, 57) U=V Baniel 'arry, Merrill Lynch #enior 7etail AnalystI'roadlines R.Q.9 1ompetition and 'uying atterns Be Dliek has stiff local competition with the many wonderful bouti-ues in Los Angeles. Birect competitors include those bouti-ues that carry some of the brands that Be Dliek plans on carrying or could move easily into carrying, and are located in the Oalley. ,ndirect competitors are those bouti-ues in LA that focus on a different target market or do not carry lines that Be Dliek will carry, in addition to well:known bouti-ues in other metropolitan areas. Be DliekEs own comparative analysis of 92 bouti-ues in Los Angeles reveals that very few are successful in delivering high:-uality customer service, as browsers are routinely ignored. ,t appears that if you donEt look a certain way or show that you have money when you walk in, you are immediately disregarded. Bressing rooms are typically small and have curtains that donEt guarantee 9++3 privacy. 1lothing siHes tend to run small and items tend to be overpriced. Cven with a lot of focus in the media and among fashion retailers on what to wear, not one bouti-ue in town is a member of the Association of ,mage 1onsultants : a very prestigious professional organiHation whose members work with and train clients in developing their image. .here are some retailers who do get it right : they have strong customer relationships, carry the right mi6 of merchandise, are knowledgeable in fashion : and the profits show. 3irect Competition> )ish )red #egal Kirl and Ler Bog Margaret PELeary Bress 7abat 7iki #usan of 'urlingame .he Krocery #tore
Indirect Competition> Abigail Morgan Ambiance eLu6ury.com Ler .he BesignerEs 1lub Yoya 'outi-ue
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All other LA 'outi-ue 7etailers
,ain Competition> )rom a Glook J feelG perspective, as well as consideration of designer lines that Be Dliek will carry, Bish in Layes Oalley is considered the main competition. .he following is a comparative analysis of )ish and Be Dliek! 0ocation> -ish Ppen Mon:#at 99:>, #un 9*:2 3e <liek Ppen Mon:)ri 99:=, #at 9+:>, #un 99:2
lenty of places in Los Angeles cater to .he location for Be Dliek has not the well:heeled, but this area also been confirmed but top targets reaches out to the adventurously are areas in which the target heeled :: and dressed. market lives andIor shops.
Prod)cts> -ish )ishEs collections largely come from American designers such as 5anette Lepore, Lauren Moffat, Oince and Datayone Adeli 3e <liek Be Dliek will carry sophisticated, -uality lines from Curopean and American designers such as Lerr )rau, Weekend Ma6Mini, Locken, Oince and 1atherine the Kreat.
C)stomer Ser%ice -ish .he owner of )ish is fashionable and knowledgeable. #he is considerate of her customers and allows them the space to shop on their own $a very important aspect for women%& 3e <liek Be Dliek will provide -uality customer service including alterations, gift wrapping, #tyle Assessments, trunk shows and special workshops.
-eat)res?Atmosphere -ish #leek and modern interior with a warehouse feel. .here are three dressing rooms with linen curtains that pull a bit from the walls so privacy is not 9++3 guaranteed. 3e <liek Be DliekEs interior will reflect a minimalist look, yet be accommodating and warm so that all products are featured appropriately. .he dressing rooms will have wood louvered doors to maintain privacy and will have chairs outside for friends to sit down.
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Competiti%e Benchmarks 91: .he competition in the Oalley does provide some good benchmarks for projecting sales and understanding customer e6pectations. ,n the Oalley, Ambivalence, a juniorIcontemporary bouti-ue, averages sales that top N9,Q++ per s-uare foot which totals more than N<++,+++ in sales annually. 5earby, Cnnui generates annual sales of N9.Q million with appro6imately ;++ s-uare feet of selling space@ that translates to more than N9,>++ per s-uare foot. Lowever, it is important to note that not all of Cnnui sales are generated from the selling floor@ a considerable amount of sales come from special orders. With these successful Los Angeles retailers as benchmarks, Be Dliek will continue to monitor them for best practices. Additionally, there are a few very successful bouti-ues in #an )rancisco, 5ew York and )lorida that are worth mentioning as benchmarks for successful retailing and merchandising. 'rown:Cyed Kirl, #an )rancisco Leidi #ays, #an )rancisco Marissa 1ollections, )lorida Language, 5ew York
??????????????????????????????????????????? U9V WomenEs Wear Baily 2.+ #trategy and ,mplementation #ummary 'ased on e6tensive research conducted on womenEs shopping behaviors as well as Be DliekEs own research among Los Angeles women, the following marketing strategies will be employed! Bevelop strong relationships with customers by utiliHing #tyle Assessment and offering services to help each woman determine the right clothes for her. rovide educational materials and programs that enable customers greater decision:making confidence. 'uild awareness of brand and services to e6emplify strong store reputation. rovide customers with a sense of access to Ginside informationG and harness the power of a womanEs personal network by leveraging marketing collateral designed for sharing and encouraging referrals. AtiliHe personal referrals and stylists to build traffic.
2.9 #ales #trategy Prod)ct?Ser%ice Selection .o overcome seasonality concerns, Be Dliek will carry *+ percent of merchandise in fashion and wardrobe accessories. Additionally, Be Dliek will provide alterations, personal shopping services and special ordering for our customers. #pecial Prders are a huge benefit as Be Dliek obtains full:price sell:through and there is no floor space needed to sell the article.
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Pricing R*3 of households with a N=2D income agree, GWhen , really want something, price is no object.G U9V At Be Dliek, we are very committed to bringing high -uality clothing to women and the prices will reflect a range of mid:to:high pricing. Average price points will be around N*++. .o maintain profit margins of *+3, Be Dliek will negotiate and focus on obtaining an average >93 retail markup for all merchandise classifications. 0ocation Be Dliek will be located in an upscale neighborhood in Los Angeles. A significant proportion of the target market lives in this area. Be Dliek will work with the local merchants association as well as local publications to generate 7 and shopping in the neighborhood. Be Dliek will also attract women from throughout other Los Angeles neighborhoods as well as the few women who come to LA from out of town to shop. Be Dliek will launch in Fuly *++R and have a website presence where fashionable customers throughout the country can go to learn more about the bouti-ue, the #tyle Assessment, how to wear certain items for day, evening and weekend, and make personal shopping appointments. Style Concierges Most women are intimidated by upscale fashion bouti-ues, as many sales associates can come across rude and snobby. Additionally, the sales pressure from an associate can be a huge turn: off to a potential customer as it doesnEt allow a woman to browse and get to know the storeEs products at her own pace. Be Dliek will have three store associates, or Gstyle concierges!G myself, an assistant manager, and a . employee $both still to be hired&. 2.9.9 #ales )orecast .he appropriate merchandise :: and the right amount of merchandise:: are critical in building a successful clothing bouti-ue. Be Dliek will carry 92 merchandise classifications in addition to the #tyle Assessment. Cach month, the sales forecast and open:to:buy $P.'& plan will be reviewed with Be DliekEs inventory service provider, 7etail Merchandising #ervice Automation $7M#A&, against the previous monthEs sales to ascertain any adjustments and make the appropriate changes. As Ppen:to:'uy is planned, the percentage of merchandise that is new $i.e., )resh ratio& will also be considered to ensure that the inventory is, on average, around R+:2+3 fresh. )allIWinter sales are forecasted at N*=*,9R9 for the rest of *++R and N29Q,2++ for )Y*++2, with an average monthly sales goal of NR>,>++. .he summariHed forecast for the )all season is listed below! Sales 2ighlights, -all?5inter Season -@#$$! : #ales 3 ,ncrease WeeksI Month #alesI Week Aug : R N<,99Q #ept *+3 2 N;,=R; Pct 923 R 5ov :=3 R Bec Q+3 2 Fan :RR3 R
NQ>,R2+ NRQ,=R+ N2+,Q+9 NR>,=;+ N>+,;9R NQR,+2>
N9*,2=2 N99,><2 N9*,9>Q N;,29R
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#alesI Bay
N9,Q+*
N9,*2+
N9,=<>
N9,>=9
N9,=Q;
N9,*9>
.able! #ales )orecast
Sales Forecast <ear 1 Sales (asual Tops )louses S-eaters Anits .ants S:irts *resses *eni' Separates Ba$:etsC)laDers (oatsC1uter-ear Fas%ion A$$essories Be-elr/ .ersonal (are >ardro,e A$$essories St/le Assess'ents Spe$ial 1rders Alterations Total Sales *ire$t (ost o& Sales (asual Tops )louses S-eaters Anits .ants S:irts *resses *eni' Separates Ba$:etsC)laDers (oatsC1uter-ear Fas%ion A$$essories Be-elr/ .ersonal (are >ardro,e A$$essories St/le Assess'ent Spe$ial 1rders Alterations Subtotal Direct Cost of Sales $47,880 $41,!59 $!7,!4! $!9,190 $4!,707 $!!,8!9 $"9,110 $"9,974 $"0,0"4 $"5,450 $"","11 $5!,!7" $"",850 $11,98! $17,7!7 $",797 $!9,"50 $1,490 $51!,50! <ear 1 $"0,588 $17,!70 $15,984 $19,447 $17,48! $1!,874 $9,9"" $11,990 $8,010 $10,989 $7,999 $18,980 $7,998 $4,79! $7,095 $1,107 $14,500 $599 $"04,8"0 $55,"88 $48,0!9 $4!,7"1 $45,9"" $50,97" $!9,904 $!0,710 $!5,7!7 $"!,8"4 $!0,979 $"9,5"0 $9","4! $"9,8!9 $14,194 $"1,0!" $",979 $!9,5"5 $1,911 $599,40! <ear " $"!,774 $"0,179 $18,"7" $18,97! $"0,"88 $19,"00 $11,970 $14,155 $9,4!9 $1",759 $9,454 $"1,499 $9,!49 $5,999 $8,41! $1,179 $15,955 $9!8 $"!7,5"0 $55,841 $48,519 $44,!77 $49,5!4 $51,7!7 $40,70! $!1,017 $!9,451 $"4,!01 $!1,"9" $"7,050 $9!,799 $"7,"!8 $14,!09 $"1,"4! $!,0!9 $40,!19 $1,94! $909,40" <ear ! $"4,01" $"0,!78 $18,455 $19,19! $"0,491 $19,!9" $11,787 $14,"99 $9,5!1 $1",889 $9,548 $"1,981 $9,440 $5,7"" $8,497 $1,191 $15,81" $944 $"!9,899 $59,400 $49,7!9 $45,04! $47,495 $5",51! $41,517 $!1,!"7 $!7,180 $"4,787 $!1,918 $"7,591 $95,!94 $"7,947 $14,449 $"1,455 $!,097 $41,1"" $1,979 $9"0,!15 <ear 4 $"4,914 $"0,889 $18,918 $19,94! $"1,005 $19,77! $1",08" $14,955 $9,770 $1!,"09 $9,788 $"",""5 $9,979 $5,899 $8,710 $1,""1 $19,"08 $990 $"45,911 $59,994 $50,48" $45,718 $48,414 $5!,!01 $4",!47 $!1,941 $!7,9"4 $"5,"8" $!",559 $"8,14! $97,0"9 $"8,091 $14,59! $"1,970 $!,159 $41,944 $1,709 $9!0,9!7 <ear 5 $"4,98! $"1,"0" $19,"0" $19,9!8 $"1,!"0 $17,0"4 $1","9! $14,874 $9,919 $1!,408 $9,9!4 $"",558 $9,8"1 $5,954 $8,841 $1,"!9 $19,451 $970 $"49,900 <ear " <ear ! <ear 4 <ear 5
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1hart! #ales Monthly
1hart! #ales by Year
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2.9.* Year Pne #ales lan &;Aecti%e B1 " Sell CD$$,$$$ of merchandise in @ear 1 'uild awareness of brand and services to e6emplify strong store reputation #trategies! rovide customers with a sense of access to Ginside informationG and harness the power of a womanEs personal network AtiliHe personal referrals and stylists to build traffic .actics! romotion! Web! Birect! : #trengthen the customer relationship via events and special communications Lold two large sales a year! winter and summer romote key merchandise J events on the website #end out monthly email newsletter to customers Bevelop working relationships with *:Q personal stylists
'ecome an active member of A,1, ersonal #elling!
rovide personal appointments
.rain #tyle 1oncierges to provide e6ceptional service and e6hibit patience in the selling process with women Lold Launch eventIparty : ,nvite O, s and LA #ocialites
Cvents!
Lold uni-ue after:hours shopping events $Mother:Baughter night, .ravel lanning, Kirls 5ight Put, etc.&
Lold )all J #pring events Ket voted as one of best places to shop on 1itysearch and in Lucky magaHine 7!
Ket featured in Los Angeles travel J shopping guides
#end press kits to, and hold interviews with, top publications
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&;Aecti%e B# " +enerate 1$E of Sales from Special &rders rovide educational materials and programs that enable customers greater decision:making confidence #trategies! rovide customers with a sense of access to Ginside informationG and harness the power of a womanEs personal network : rovide overview of how a special order works on the website Announce events through postcard to best customers Lave #tyle 1oncierges communicate the opportunity with their best customers Lold four trunk shows a year Cvents! Lold G'ring Your ManG night and sell clothing from lines that carry menEs lines $Cnsure men know about gift assistance%&
.actics! Web! Birect! ersonal #elling!
&;Aecti%e BF " +arner In"3epth 'nderstanding of C)stomers Bevelop strong relationships with customers by utiliHing #tyle Assessment and offering services to help them determine the right clothes for them rovide educational materials and programs that enable customers greater decision making confidence .actics! : romote gift giving during key holidays $1hristmas, OalentineEs romotion! J MotherEs Bay& and utiliHe assessments to assist gift givers in purchasing the appropriate gift Web! Birect! Pffer the assessment on www.dekliekstylestudio.com ,ntegrate style personalities and other key information into customer database and develop customer segments 1reate awareness of assessment through emails to customers List the style personality numbers on each merchandise tag to generate interest and awareness of the #tyle Assessment ,n:#tore! rovide overview of #tyle Assessment in dressing rooms .ailor merchandise offerings to specific #tyle personalities Cvents! Lold monthly #tyle Assessment workshops
#trategies!
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2.* 1ompetitive Cdge Although Be Dliek will bring high:-uality clothing and value to Los Angeles women, the most significant competitive advantage Be Dliek will have over all competitors is dedication to providing an approachable retail atmosphere with top:notch customer service. Be DliekEs uni-ue selling proposition is the integrated concept of personal style services! from events and bios that educate shoppers on designers, to personaliHed #tyle Assessments, on:site alterations, and our own uni-ue #tyle 1oncierges and wardrobe accessories. ,n contrast to many other bouti-ues, Be Dliek will become a corporate member of the Association of ,mage 1onsultants so that our #tyle 1oncierges learn from the nationEs best on image consulting. 2.Q Marketing #trategy Positioning Statement Be Dliek provides professional women with upscale designer clothing and e6clusive personal services. Pur main competitive advantage is the uni-ue #tyle Assessment and education emphasis in helping women develop their personal style. Brand Positioning EBe DliekE is Butch for a grouping or circle of friends, a Gcli-ue.G 'uilding on the meaning of Gkliek,G circles are part of the logo, which defines the bouti-ue, and its essence of inclusion. #tyle #tudio is added to the overall name to suggest that women can come to the bouti-ue to learn about themselves and e6periment with their personal style. 'y combining these two meanings, Be Dliek #tyle #tudio looks to be the leader in providing e6ceptional service and assistance for womenEs fashion needs. .he elegance of the name suggests the types of clothing and accessories that will be featured. B.A13 P/.S&1A0IT@ ,nnovative Z #tylish Z 1ontemporary Z Modern Z )resh Z Approachable Z Clegant .he overall brand personality of Be Dliek aspires to be fashionable, customer:oriented, innovative, refreshing, stylish and educational. .he bouti-ue is a place where women can go to transform themselves with beautiful clothes and take advantage of the #tyle Assessment and other services that help them determine the right clothes for their uni-ue selves. We are a shop that educates. We help women learn about the designers, gather with their friends, and have fun during the process. We not only carry items that help them look good, but we also help our customers maintain these items. Pwner Orootje Magen will work with her top design advisors to create the atmosphere, colors and wording that encapsulates these thoughts. Promotion .he following promotional tactics for generating buHH and awareness about Be Dliek will be implemented! ersonal selling and word of mouth via networks of friends, stylists and customers Ani-ue visual displays in storefront on a weekly basis 7 $local and national& 'outi-ue email newsletters Birect mail such as postcard notices that are targeted specifically to the customer #ales romotion such as store events and bi:annual sales Be Dliek Web #ite Advertising will be at a minimum with regular ad placements in the Oalley Ooice
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Pther important marketing strategies, such as developing strong customer relationships $retention&, will utiliHe a different mi6 of marketing programs. 2.R Milestones -all season ,arketing calendar> 3ate and Tactic Fune:Fuly :: 7 Media Dits and LocalI5ational 7 outreach to aper 1ity, LA 1hronicle, LA neighborhood paper, W, Oogue, Lucky and Marie 1laire Fuly 92 :: Launch arty and Cvent Fuly 9= :: Krand Ppening August :: )all )ashion #how at A,1, Meeting $Q++:2++ people& #eptember :: #tyle Assessment Workshop Pctober :: Mother:Baughter 5ight@ #tyle Assessment Workshop 5ovember :: Loliday Lair Workshop@ #tyle Assessment Workshop
>.+ Web lan #ummary .he website will serve as a source of information for online visitors. Be Dliek plans to correspond its web site launch with the official launch of the bouti-ue. lans for year 9 include search engine optimiHation and development of editorial content throughout year *. ,n year Q, Be Dliek will evaluate including ecommerce into its business model. .he site will be developed so that users see everything they need Gabove the fold.G .he website will feature key items along with the uni-ue services of the bouti-ue. Cditorial content will entail ideas of outfits that are appropriate for work, special events and getaways. .o further enhance Be DliekEs service offering, reservation forms will be available for booking ersonal #tyle and 1loset Assessment appointments, ersonal #hopping appointments, and rivate arties and Workshops. .he website will leverage the corporate identity and brand personality of Be Dliek :: clean and simple. .he nomenclature will mirror the current ideas articulated throughout the bouti-ue! #tyle, 1oncierge and About. .he overall strategy of the website will to be provide a clear and simple architecture that allows the user to obtain all the information they need, simply and easily.
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>.9 Website Marketing #trategy 'ecause Be Dliek is based in the Los Angeles area, the hotspot for film companies, the online strategy will focus on both celebrity endorsements and email marketing. Kiven current federal regulations $1A5:# AM&, Be Dliek will incorporate strict guidelines in managing customer data and ensure that a customer will not receive more than * emails per month. As word:of:mouth and email marketing have proven effective for retail bouti-ues of Be DliekEs nature, Be Dliek will implement these strategies at the beginning of operations. 7esearch shows that the number one reason people log on to the ,nternet is for information. Be DliekEs strategy is to provide as much information as possible on their current designers, fashions and style tips, as well as to utiliHe the appropriate search terms to deliver the most relevant click:throughs. Awareness of the website will be provided in local advertising, public relations efforts, customer emails, in:store signage J receipts as well as direct mail and word:of:mouth. >.* Bevelopment 7e-uirements Bevelopment costs include the following! #ite Besign : NQ,+++. #ite ,mplementation : )ree. Pwner, Orootje Magen, is very familiar with Breamweaver and html and is able to take the templates that the web designer creates and utiliHe them to manage the implementation and further development of the site.
&ngoing Costs Bomain registration for the website for 2 years : N<2 #ite Losting : NQ+ per month with #'1 Yahoo% #earch Cngine 7egistration : N*++ per year #ite Besign 1hanges : 1hanges in the site, such as photography costs $estimated at N92+: N*++ per shot&, are considered to be part of Marketing and Advertising
=.+ Management #ummary ,anagement /6pertise GrootAe ,agen 4 &wner Orootje Magen has *+ years of work e6perience that is directly relevant to managing and operating a successful clothing bouti-ue. .he first eight years of her professional work e6perience were spent in retail sales and banking, and the last 9* years have been dedicated to a professional career in marketing. .he sum of these e6periences truly integrates the key disciplines for running a successful business! sales, finance, and management. Ms. MagenEs initial e6periences in retail and business sales were formative insofar as they helped her early on to understand how to best work with all types of personalities, meet individual needs through listening, and develop strong creative problem:solving skills. Much of
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this e6perience was spent Gin the trenches,G developing practical skills on the floor at retailers including F1 enney, Kottshchalks and AnnEs 'outi-ue. #he has an understanding of what it takes to work in a retail environment, from stocking the sales floor and utiliHing loss prevention skills, to ringing up a sale and counting back cash, and most importantly, reading a customer. Ler five years as a )inancial #ervice 7epresentative at two banks directly benefit the day:to: day operations of the bouti-ue. With a successful and award:winning career in corporate marketing for the last 9* years, Ms. Magen understands how to create successful communications and marketing strategies and have e6perience marketing fashion for top retailers, such as Levi #trauss and Kap ,nc. Much of this work involved developing and maintaining high profile campaigns that were structured around generating increased customer sales within the store environment and through sales associate training. #he has led successful teams, which involved -ualified and thoughtful selection of employees and consultants to help ensure the success of a project. Ler current efforts toward opening Be Dliek #tyle #tudio have heavily depended on all the skills and abilities that she has developed in her past professional lives. Ler combined skills and knowledge of the right types of clothing a woman should wear based on her body type and personality are enhanced by her retail e6perience, and her current training within the Association of ,mage 1onsultants ,nternational for the last two years has solidified her e6pertise. Ms. Magen is e6tremely dedicated and motivated to creating a thriving clothing bouti-ue and feels confident in succeeding based on her well:rounded e6perience, established sound vendor and customer relationships, and strong work ethic. Team of Ad%isors 0isa Bakke, Certified Image Professional As a personal stylist, Lisa 'akke has helped people look and feel great for fifteen years. Dnown as the #hopping #herpa, she is dedicated to leading people to their style destination. Lisa was born with a remarkable, discerning GeyeG for beauty and detail and started winning national art awards at age twelve. Lisa graduated from 1olorado 1ollege in 9<=< with a bachelorEs degree in art and education. 'y 9<;<, Lisa played a key role in launching a womenEs ready:to:wear line by designing, marketing and selling it via hugely successful trunk shows. ,t was then that she recogniHed women wanted one:on:one attention in helping them determine their optimal clothing designs and colors. ,n *+++:*++9, Lisa served as president of a prestigious international organiHation for image consultants. #he is also the editor of a 9*:page publication for image consultants. .oday, Lisa regularly shops for clients in aris. .ilke SHank), Creati%e 3irector * Principal, Bl)e=# .hroughout her 92 years of e6perience in the design industry, 7ilke #Hanku has found that her best work has harnessed the power of striking visuals grounded in solid strategy to meet client objectives. #he founded 'lueR* to provide cutting edge print and web design. rior to founding 'lueR*, 7ilke was the 1reative Birector at 1Pmpany [. Ler work for top clients has been widely acclaimed. 1icco I. Smore, Architect)re * 3esign 5icco #more received his '.A. from )lorida #tate Aniversity in 9<<9 and his Masters in Architecture from the Aniversity of )lorida in 9<<=. #ince 9<<; he has worked for 'ig
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Architecture in 1alifornia and has been involved in the design and construction of diverse project types, including educational, civic, and religious facilities, as well as several residential projects. Much of his current work includes design and construction administration of renovation, and moderniHation of e6isting secondary educational facilities. Sch)lden -. <opff, CPA #chulden Dopff has been a 1 A for more than ten years and is certified in two states $1alifornia J Missouri&. U rivate information removed for confidentiality.V Mr. Dopff currently operates his own ta6 practice in Los Angeles. -anny Packer, Attorney )anny acker, F.B., M.'.A., 1. .A., is an attorney in independent practice who provides business law counseling and transactional support to entrepreneurs and growing business organiHations. )anny is an e6perienced professional who has worked in the legal profession since 9<<;, and has been heavily involved in sophisticated business transactions and major business contract negotiations in various roles for over *+ years. Ler core legal competencies are in corporate, contracts, intellectual property, and commercial real estate law. +ordon +rido, GP ,erchandising Analyst, .,SA Be Dliek is working with Merchandising Analyst Kordon Krido to develop a specific plan that will guide the company through making purchasing decisions, as well as planning and inventory management. Kordon has been with 7etail Merchandising #ervice Automation $7M#A& for 9= years, working with LA Area retailers similar to Be Dliek. Lis focus is to enable merchants to make merchandising decisions that keep a healthy cash flow with ma6imum profitability as the main goal of business operations. 7M#A has maintained its status as the leading provider of inventory management and forecasting tools for retail businesses nationwide. 7M#A )orecasting is a merchandise planning service that combines information from a retailerEs sales and inventory with 7M#AEs e6traordinary retail database to help retailers forecast and improve the performance of their retail operations. Lugh Cnmity, )ashion J Merchandising ,nstructor, Academy of Art Mr. Cnmity has spent over *+ years in retail as an e6ecutive with a leading traditional department store $MacyEs&, off:price chain $7oss #tores& and mall:based chain store $)ootlocker&. Lis background is primarily in Menswear with e6tensive e6perience in tailored clothing, shoes, sportswear, activewear, dress furnishings and basic furnishings. Astri6 <omma, Copywriter?Creati%e Cons)ltant With nearly *+ years of solid direct response, advertising and Web e6perience for agency powerhouses up and down the West 1oast, Astri6 Domma has been a lead creator on high profile marketing campaigns. Ler creative work has won numerous industry awards including a 1lio and 1ommunication Arts award and a host of direct marketing accolades, including multiple Fohn 1aples awards. =.9 ersonnel lan QR3 of Americans in *++* cite having Gneat and attractive salespeopleG as a reason they decide to shop where they do, compared to *<3 in *+++. UYankelovich Monitor, GKetting the Koods,G May *++QV
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.he personnel plan is included in the table, below. ,n addition to the owner, there will be one part:time $Q+ hoursIweek& Assistant Manager and two part:time #tyle 1oncierges by the end of the first year. .he Assistant Manager will be paid at a rate of N*+.++ per hour and the part:time #tyle 1oncierges will be paid at a rate of N92.++ per hour, plus benefits. Cmployees of Be Dliek will be paid competitively and will receive in:depth store training and membership into the Association of ,mage 1onsultants ,nternational $A,1,&. Additionally, employees will receive special store benefits including! Q+3 #tore Biscount Pne free outfit a month $an outfit is defined as a top and bottom or dress& #pecial monthly bonuses as sales goals are met aid Lolidays aid .ime Pff $ .P& based on W of hours worked
As Be Dliek grows, medical insurance will be provided to full:time employees. My philosophy is to empower my staff to do the best they can and give them the freedom to do so. ,nevitably, they will make mistakes and if they donEt make mistakes, they donEt learn. , will lead by delegation but , wonEt let them Ghang themselves.G As a manager, , will provide appropriate objectives, guide them throughout the process $utiliHing Management by Pbjectives& and help them make decisions based on the company philosophy. , believe in recogniHing good work and letting my staff know that , value and appreciate them when a job is well done. , have confidence my philosophy will not only attract smart and loyal employees, but also develop strong mutual respect, as they will feel that their ideas are valued and that they are respected. Be Dliek will provide in:depth training to new staff, which will include education on the designers, products J services offered, and systems and procedures to follow. .here will also be employee manuals provided to support the training as well as e6amples set by the owner and assistant store manager on customer service. #pecial awards will be given for great customer service and knowledge imparted. .able! ersonnel
Personnel Plan <ear 1 1-ner Assistant 6anager St/le (on$ierge Total .eople Total Payroll $7!,000 $!9,900 $18,400 ! $1!1,000 <ear " $79,000 $4",000 $4,000 4 $1"",000 <ear ! $90,000 $4!,500 $4,000 4 $1!7,500 <ear 4 $90,000 $44,500 $5,000 4 $1!9,500 <ear 5 $95,000 $49,000 $5,000 4 $149,000
;.+ )inancial lan Be Dliek looks to bring in annual sales of N>++,+++ with an operating profit margin of *+3. Kross margins are at 293, which is > percentage points higher than the retail industry average but in line with retail bouti-ue averages. Pverall, Be Dliek projects to reinvest net profits of 23 into the company for service enhancements and growth initiatives.
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)irst:year cash flows are positive due to the cash:based business of Be Dliek. Be Dliek remains very li-uid with no 1urrent Liabilities forecasted for the year ending Fune Q+, *++2. #tartup costs are estimated at N9Q*,=++ with almost half of these costs going to startup inventory. #ee the #tart:up .able, above, for details. ;.9 ,mportant Assumptions ayroll burden is calculated at 9*.>23 made up of =.>23 social security, *3 unemployment, and Q3 workerEs compensation. ayables are assumed to reach levels e-ual to one monthEs operating e6penses. Long:term interest rates have been based on current #'A loan rates. .able! Keneral Assumptions
General Assumptions <ear 1 .lan 6ont% (urrent 3nterest Rate +ong-ter' 3nterest Rate Tax Rate Other 1 7799@ 8700@ !0700@ 0 <ear " " 107"9@ 8700@ !0700@ 0 <ear ! ! 7799@ 8700@ !0700@ 0 <ear 4 4 107"9@ 8700@ !0700@ 0 <ear 5 5 7799@ 8700@ !0700@ 0
;.* 'reak:even Analysis 1ost of goods for the break:even are based on line sheets from the vendors that Be Dliek plans to carry. ,n addition, Be Dliek plans to maintain an average >+3 retail markup. Be Dliek plans to maintain sales revenues well above the break:even level noted below.
1hart! 'reak:even Analysis
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.able! 'reak:even Analysis
Break-even Analysis 6ont%l/ Re4enue )rea:-e4en Assu'ptions; A4erage .er$ent Earia,le (ost Estimated Monthly Fixed Cost 40@ $"0,740 $!4,501
;.Q rojected rofit and Loss .he projected rofit and Loss for five years is detailed in the table and charts following. #ome assumptions and inclusions to be noted are included in the Appendi6.
1hart! rofit Monthly
Page 21
1hart! rofit Yearly
1hart! Kross Margin Monthly
Page "0
1hart! Kross Margin Yearly
.able! rofit and Loss
Pro Forma Profit and Loss <ear 1 Sales *ire$t (ost o& Sales 1t%er (osts o& 8oods Total (ost o& Sales 8ross 6argin 8ross 6argin @ $51!,50! $"04,8"0 $0 $"04,8"0 $!08,98! 90711@ <ear " $599,40! $"!7,5"0 $0 $"!7,5"0 $!91,88! 907!7@ <ear ! $909,40" $"!9,899 $0 $"!9,899 $!99,507 9079!@ <ear 4 $9"0,!15 $"45,911 $0 $"45,911 $!74,404 907!9@ <ear 5 $9!0,9!7 $"49,900 $0 $"49,900 $!81,!!7 90744@
Expenses .a/roll Ad4ertising *epre$iation A'ortiDation - Startup (osts )an: Ser4i$e (%arges *ues F Su,s$riptions Edu$ation F Training 3nsuran$e - >or:'anGs (o'p 3nsuran$e - propert/ F lia,ilit/ 3nterest Expense - +T +oan +i$ense F .er'its 6aintenan$e - 1&&i$e 6ar:eting and .R 6is$ellaneous .a/roll - (%arges .ostage F *eli4er/ .rinting F reprodu$tion .ro& Fees - A$$ounting .ro& Fees - +egal $1!1,000 $4,800 $4,889 $5,500 $480 $900 $1,"00 $!,!7" $9,"04 $4,719 $110 $",400 $9,900 $!,900 $797 $900 $1,"00 $1,500 $1,000 $1"",000 $4,800 $4,889 $5,500 $480 $900 $1,500 $!,500 $9,"00 $4,719 $0 $",400 $10,000 $!,900 $800 $900 $1,"00 $1,500 $500 $1!7,500 $4,800 $4,889 $5,500 $480 $900 $",000 $!,900 $9,!00 $4,719 $0 $",400 $10,000 $!,900 $800 $900 $1,"00 $1,500 $500 $1!9,500 $4,800 $4,889 $5,500 $480 $900 $",000 $!,800 $9,500 $4,719 $0 $",400 $10,000 $!,900 $800 $900 $1,"00 $1,500 $500 $149,000 $4,800 $4,889 $5,500 $480 $900 $",000 $4,000 $9,500 $4,719 $0 $",400 $10,000 $!,900 $800 $900 $1,"00 $1,500 $500
Page "1
Rent Repairs Se$urit/ Supplies - 1&&i$e F Store Tra4el F Entertain'ent Telep%one C 3nternet A$$ess Htilities .a/roll Taxes E'plo/ee )ene&its 1t%er Total 1perating Expenses .ro&it )e&ore 3nterest and Taxes E)3T*A 3nterest Expense Taxes 3n$urred #et .ro&it et Profit!Sales
$!9,000 $900 $!48 $4,"00 $8,500 $1,440 $",100 $7"0 $9,000 $",400 $"48,879 $59,809 $94,999 $9,75! $15,919 $!7,1!7 77"!@
$!9,000 $900 $!50 $4,"00 $10,000 $1,440 $",100 $10,515 $9,100 $",400 $"51,490 $110,!9! $115,"8" $5,99! $!1,!"9 $7!,101 1"7"0@
$!9,000 $900 $!50 $4,"00 $10,000 $1,440 $",100 $10,890 $9,100 $",400 $"98,095 $101,44" $109,!!1 $5,1!8 $"8,891 $97,41" 11709@
$40,000 $900 $!50 $4,"00 $10,000 $1,440 $",100 $11,490 $10,100 $",400 $"79,095 $98,!!9 $10!,""8 $4,!14 $"8,"08 $95,818 10791@
$40,000 $900 $!50 $4,"00 $10,000 $1,440 $",100 $1",015 $10,100 $",400 $"8!,"90 $98,047 $10",9!9 $!,489 $"8,!97 $99,191 10749@
;.R rojected 1ash )low .he projected 1ash )low for five years is detailed in the table and chart following. ,n addition, it should be noted that Be Dliek will establish relationships with vendors andIor representatives to determine the following to maintain cash flow! Average price points 0 this will help ensure that a good mi6 of prices are maintained. Belivery time frame J reliability 0 this will be crucial to ensure ma6imiHation of profits during the key shopping time frames. )or ,talian designers who may live up to the ,talian notoriety for being late in deliveries, Be Dliek will re-uest the earliest possible delivery from them and also ensure they will be open to discounts if deliveries are late. #hipping and transportation policies. Market demand and turn rates 0 typically the vendor should know their end customer and be able to share that information so it aligns with my target market as well as helps me determine how much is appropriate to buy. ayment terms and agreements 0.he goal is to be at 5et Q+ but , e6pect vendors to understand that Be Dliek is a new bouti-ue and will work with Be Dliek to get the store at 5et Q+ terms with them within one season.
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.able! 1ash )low
Pro Forma Cash Flo <ear 1 (as% Re$ei4ed <ear " <ear ! <ear 4 <ear 5
(as% &ro' 1perations (as% Sales Su,total (as% &ro' 1perations Additional (as% Re$ei4ed Sales Tax, EAT, =STC8ST Re$ei4ed #e- (urrent )orro-ing #e- 1t%er +ia,ilities 0interest-&ree2 #e- +ong-ter' +ia,ilities Sales o& 1t%er (urrent Assets Sales o& +ong-ter' Assets #e- 3n4est'ent Re$ei4ed Su,total (as% Re$ei4ed Expenditures Expenditures &ro' 1perations (as% Spending )ill .a/'ents Su,total Spent on 1perations Additional (as% Spent Sales Tax, EAT, =STC8ST .aid 1ut .rin$ipal Repa/'ent o& (urrent )orro-ing 1t%er +ia,ilities .rin$ipal Repa/'ent +ong-ter' +ia,ilities .rin$ipal Repa/'ent .ur$%ase 1t%er (urrent Assets .ur$%ase +ong-ter' Assets *i4idends Su,total (as% Spent #et (as% FloCash "alance $0 $0 $0 $10,!08 $0 $0 $1,000 $417,!8! $99,1"0 $10!,9"0 $0 $0 $0 $10,!08 $0 $0 $1,000 $54!,991 $55,74" $159,!9" $0 $0 $0 $10,!08 $0 $0 $1,500 $545,9!9 $9!,49! $""",8"5 $0 $0 $0 $10,!08 $0 $0 $1,500 $591,!4" $58,97! $"81,798 $0 $0 $0 $10,!08 $0 $0 $1,000 $571,105 $59,8!" $!41,9!0 $1!1,000 $"75,075 $409,075 $1"",000 $410,!5! $5!",!5! $1!7,500 $!99,9!1 $5!4,1!1 $1!9,500 $410,0!4 $549,5!4 $149,000 $41!,797 $559,797 $0 $0 $0 $0 $0 $0 $0 $51!,50! <ear 1 $0 $0 $0 $0 $0 $0 $0 $599,40! <ear " $0 $0 $0 $0 $0 $0 $0 $909,40" <ear ! $0 $0 $0 $0 $0 $0 $0 $9"0,!15 <ear 4 $0 $0 $0 $0 $0 $0 $0 $9!0,9!7 <ear 5 $51!,50! $51!,50! $599,40! $599,40! $909,40" $909,40" $9"0,!15 $9"0,!15 $9!0,9!7 $9!0,9!7
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1hart! 1ash
Page ")
;.2 rojected 'alance #heet All financials will be updated monthly to reflect past performance and future assumptions. )uture assumptions will be based on our inventory plans from 7etail Merchandising #ervice Automation $7M#A&, economic cycle activity, regional retail indicators, apparel trends, and future cash flow. Be Dliek works with both an Accountant and 1 A whom both have personal and professional e6perience in retail operations. We e6pect solid growth in net worth beyond the first fiscal year of operation. .able! 'alance #heet
Pro Forma Balance Sheet <ear 1 Assets <ear " <ear ! <ear 4 <ear 5
(urrent Assets (as% 3n4entor/ 1t%er (urrent Assets Total (urrent Assets +ong-ter' Assets +ong-ter' Assets A$$u'ulated *epre$iation Total +ong-ter' Assets Total Assets +ia,ilities and (apital (urrent +ia,ilities A$$ounts .a/a,le (urrent )orro-ing 1t%er (urrent +ia,ilities Su,total (urrent +ia,ilities +ong-ter' +ia,ilities Total +ia,ilities .aid-in (apital Retained Earnings Earnings Total (apital Total +ia,ilities and (apital et #orth $!!,904 $0 $0 $!!,904 $79,99" $11!,599 $4",707 0$49,1082 $!7,1!7 $!!,7!9 $147,!!" $!!,7!9 $!!,71" $0 $0 $!!,71" $99,!84 $10!,099 $4",707 0$9,9712 $7!,101 $105,8!7 $"08,9!! $105,8!7 $!",500 $0 $0 $!",500 $59,079 $91,579 $4",707 $91,9!0 $97,41" $171,749 $"9!,!"5 $171,749 $!!,809 $0 $0 $!!,809 $48,798 $8",577 $4",707 $1"7,54" $95,818 $"!9,097 $!18,944 $"!9,097 $!4,0"9 $0 $0 $!4,0"9 $!8,490 $7",489 $4",707 $19",!90 $99,191 $!01,"57 $!7!,749 $!01,"57 $"4,599 $4,889 $19,710 $147,!!" <ear 1 $"4,599 $9,778 $14,8"1 $"08,9!! <ear " $"4,599 $14,997 $9,9!" $"9!,!"5 <ear ! $"4,599 $19,559 $5,04! $!18,944 <ear 4 $"4,599 $"4,445 $154 $!7!,749 <ear 5 $10!,9"0 $"4,00! $0 $1"7,9"" $159,!9" $!4,750 $0 $194,11" $""",8"5 $!0,598 $0 $"5!,!94 $"81,798 $!1,80! $0 $!1!,901 $!41,9!0 $!1,99" $0 $!7!,59!
Page "+
;.> 'usiness 7atios #tandard business ratios are included in the following table. .he ratios show a plan for balanced, healthy growth. ,ndustry profile ratios based on the #tandard ,ndustrial 1lassification $#,1& code 2>*9, WomenEs 1lothing #tores, are shown for comparison. .able! 7atios
!atio Analysis <ear 1 Sales 8ro-t% .er$ent o& Total Assets 3n4entor/ 1t%er (urrent Assets Total (urrent Assets +ong-ter' Assets Total Assets (urrent +ia,ilities +ong-ter' +ia,ilities Total +ia,ilities #et >ort% .er$ent o& Sales Sales 8ross 6argin Selling, 8eneral F Ad'inistrati4e Expenses Ad4ertising Expenses .ro&it )e&ore 3nterest and Taxes 6ain Ratios (urrent Iui$: Total *e,t to Total Assets .re-tax Return on #et >ort% .re-tax Return on Assets Additional Ratios #et .ro&it 6argin Return on E uit/ A$ti4it/ Ratios 3n4entor/ Turno4er A$$ounts .a/a,le Turno4er .a/'ent *a/s Total Asset Turno4er *e,t Ratios *e,t to #et >ort% !7!7 0797 075! 07!5 07"4 100700@ 779! 9711 "7 !749 8709 1"717 !0 "787 77!5 1"717 !1 "7!1 7789 1"717 "9 1795 778! 1"717 !0 1799 400700@ n7a n7a n7a !779 !709 77710@ 1577"9@ !9701@ <ear 1 77"!@ 110708@ 5779 477! 497!4@ 98797@ 49798@ <ear " 1"7"0@ 99707@ 7780 9789 !4778@ 59707@ !9757@ <ear ! 11709@ !97"5@ 97"8 87!4 "579"@ !978!@ "9751@ <ear 4 10791@ "7788@ 10798 10704 19740@ !17!9@ "57!0@ <ear 5 10749@ "1797@ n7a n7a !7!7 0787 40719@ 7714@ 1179!@ 100700@ 90711@ 4078"@ 0700@ 11795@ 100700@ 907!7@ 41705@ 0700@ 1874"@ 100700@ 9079!@ 41707@ 0700@ 19795@ 100700@ 907!9@ 41751@ 0700@ 15785@ 100700@ 90744@ 4175"@ 0700@ 15754@ 100700@ 41789@ "170"@ !778@ !715@ 197"9@ 0700@ 8979"@ 1!7!8@ 100700@ "!701@ 54709@ 77710@ ""790@ 1979!@ 0700@ 9"791@ 7709@ 100700@ 19714@ !!7"1@ 497!4@ 50799@ 11791@ 0700@ 997"!@ !777@ 100700@ 1"7!4@ ""74!@ !4778@ 957""@ 9798@ 0700@ 9874"@ 1758@ 100700@ 10791@ 157!0@ "579"@ 74708@ 8755@ 0700@ 99799@ 0704@ 100700@ 9710@ 107"9@ 19740@ 80790@ 557!8@ "57"9@ 88770@ 117!0@ 100700@ "4777@ 57!5@ !071"@ 99788@ n7a7 <ear " 1977!@ <ear ! 1797@ <ear 4 1779@ <ear 5 1771@ 3ndustr/ .ro&ile "795@
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(urrent +ia,7 to +ia,7 +i uidit/ Ratios #et >or:ing (apital 3nterest (o4erage Additional Ratios Assets to Sales (urrent *e,tCTotal Assets A$id Test SalesC#et >ort% Di$idend Payout
07!0
07!!
07!5
0741
0747
n7a
$9!,718 8789
$190,400 18751
$""0,89! 19774
$"79,79" ""780
$!!9,594 "8710
n7a n7a
07"9 "!@ !709 157"" 070!
07!5 19@ 477! 5799 0701
074! 1"@ 9789 !755 070"
0751 11@ 87!4 "79! 070"
0759 9@ 10704 "709 070"
n7a n7a n7a n7a n7a
Page "/
.%%en(ix
.able! #ales )orecast
Sales Forecast Month 1 Sales Casual Tops Blouses Sweaters n!ts "ants S#!rts $resses $en!% Separates &a'#ets(Bla)ers Coats(*uterwear +ash!on ,''essor!es &ewelr"ersonal Care .ar/ro0e ,''essor!es St-le ,ssess%ents Spe'!al *r/ers ,lterat!ons Total Sales 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,360 $2,915 $2,650 $2,750 $3,090 $2,405 $1,875 $2,155 $1,445 $1,850 $1,600 $3,740 $1,635 $900 $1,275 $205 $2,500 $100 $36,450 $4,150 $3,570 $3,220 $3,350 $3,800 $3,000 $2,200 $2,500 $1,650 $2,200 $1,800 $4,600 $2,000 $950 $1,450 $230 $2,950 $120 $43,740 $4,650 $4,035 $3,670 $3,810 $4,275 $3,300 $2,590 $2,980 $1,990 $2,560 $2,211 $5,170 $2,250 $1,180 $1,750 $250 $3,500 $130 $50,301 $4,400 $3,700 $3,400 $3,500 $4,100 $3,150 $2,300 $2,730 $1,800 $2,300 $1,900 $5,100 $1,950 $900 $1,500 $264 $3,650 $136 $46,780 $5,132 $4,449 $4,300 $4,600 $5,100 $4,000 $3,200 $3,600 $2,500 $3,300 $2,700 $6,000 $3,500 $1,600 $2,400 $290 $4,000 $143 $60,814 $3,600 $3,000 $2,600 $2,800 $3,000 $2,300 $1,700 $1,900 $1,200 $1,400 $1,500 $3,800 $1,200 $700 $1,100 $226 $1,900 $130 $34,056 $3,650 $3,150 $2,800 $2,950 $3,100 $2,350 $1,800 $2,025 $1,350 $1,600 $1,600 $3,950 $1,350 $900 $1,200 $282 $2,000 $151 $36,208 $4,300 $3,700 $3,350 $3,500 $3,900 $3,000 $2,400 $2,750 $1,800 $2,300 $2,000 $4,800 $2,000 $1,100 $1,600 $230 $3,950 $145 $46,825 $4,800 $4,300 $3,600 $3,800 $4,300 $3,285 $2,550 $3,000 $2,000 $2,500 $2,200 $5,300 $2,200 $1,150 $1,700 $264 $3,300 $144 $50,393 $4,888 $4,237 $3,853 $4,000 $4,492 $3,499 $2,720 $3,134 $2,089 $2,690 $2,325 $5,432 $2,365 $1,253 $1,862 $261 $4,000 $136 $53,236 $4,950 $4,300 $3,900 $4,100 $4,550 $3,550 $2,775 $3,200 $2,200 $2,750 $2,375 $5,480 $2,400 $1,350 $1,900 $265 $4,500 $155 $54,700 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
$!re't Cost o1 Sales Casual Tops Blouses Sweaters n!ts "ants S#!rts $resses $en!% Separates &a'#ets(Bla)ers Coats(*uterwear +ash!on ,''essor!es &ewelr"ersonal Care
Month 1 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Month 2 $1,445 $1,224 $1,113 $1,155 $1,236 $986 $713 $862 $578 $777 $576 $1,309 $572 $360
Month 3 $1,785 $1,499 $1,352 $1,407 $1,520 $1,230 $836 $1,000 $660 $924 $648 $1,610 $700 $380
Month 4 $2,000 $1,695 $1,541 $1,600 $1,710 $1,353 $984 $1,192 $796 $1,075 $796 $1,809 $788 $472
Month 5 $1,892 $1,554 $1,428 $1,470 $1,640 $1,292 $874 $1,092 $720 $966 $684 $1,785 $683 $360
Month 6 $2,207 $1,869 $1,806 $1,932 $2,040 $1,640 $1,216 $1,440 $1,000 $1,386 $972 $2,100 $1,225 $640
Month 7 $1,548 $1,260 $1,092 $1,176 $1,200 $943 $646 $760 $480 $588 $540 $1,330 $420 $280
Month 8 $1,570 $1,323 $1,176 $1,239 $1,240 $964 $684 $810 $540 $672 $576 $1,383 $472 $360
Month 9 $1,849 $1,554 $1,407 $1,470 $1,560 $1,230 $912 $1,100 $720 $966 $720 $1,680 $700 $440
Month 10 $2,064 $1,806 $1,512 $1,596 $1,720 $1,347 $969 $1,200 $800 $1,050 $792 $1,855 $770 $460
Month 11 $2,102 $1,780 $1,618 $1,680 $1,797 $1,435 $1,034 $1,254 $836 $1,130 $837 $1,901 $828 $501
Month 12 $2,129 $1,806 $1,638 $1,722 $1,820 $1,456 $1,055 $1,280 $880 $1,155 $855 $1,918 $840 $540
Page 1
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.ar/ro0e ,''essor!es St-le ,ssess%ent Spe'!al *r/ers ,lterat!ons Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $510 $82 $1,000 $40 $14,538 $580 $92 $1,180 $48 $17,451 $700 $100 $1,400 $52 $20,063 $600 $106 $1,460 $54 $18,659 $960 $116 $1,600 $57 $24,206 $440 $90 $760 $52 $13,605 $480 $113 $800 $60 $14,461 $640 $92 $1,580 $58 $18,678 $680 $106 $1,320 $58 $20,104 $745 $104 $1,600 $54 $21,234 $760 $106 $1,800 $62 $21,821
Page 2
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.able! ersonnel
Personnel Plan Month 1 *wner ,ss!stant Mana2er St-le Con'!er2e Total "eople 0% 0% 0% $0 $3,200 $1,440 2 Month 2 $2,500 $3,200 $1,440 2 Month 3 $3,500 $3,200 $1,440 2 Month 4 $7,000 $3,200 $1,440 2 Month 5 $7,500 $3,200 $1,440 2 Month 6 $7,500 $3,200 $1,440 2 Month 7 $7,500 $3,400 $1,440 2 Month 8 $7,500 $3,400 $1,440 2 Month 9 $7,500 $3,400 $1,440 2 Month 10 $7,500 $3,400 $1,440 2 Month 11 $7,500 $3,400 $2,000 3 Month 12 $7,500 $3,400 $2,000 3
Total Payroll
$4,640
$7,140
$8,140
$11,640
$12,140
$12,140
$12,340
$12,340
$12,340
$12,340
$12,900
$12,900
Page "
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.able! Keneral Assumptions
General Assumptions Month 1 "lan Month Current 3nterest 4ate 6on27ter% 3nterest 4ate Ta8 4ate Other 1 6500% 8500% 30500% 0 Month 2 2 6530% 8500% 30500% 0 Month 3 3 6562% 8500% 30500% 0 Month 4 4 6595% 8500% 30500% 0 Month 5 5 7529% 8500% 30500% 0 Month 6 6 7566% 8500% 30500% 0 Month 7 7 8504% 8500% 30500% 0 Month 8 8 8544% 8500% 30500% 0 Month 9 9 8586% 8500% 30500% 0 Month 10 10 9531% 8500% 30500% 0 Month 11 11 9577% 8500% 30500% 0 Month 12 12 10526% 8500% 30500% 0
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.able! rofit and Loss
Pro Forma Profit and Loss Month 1 Sales $!re't Cost o1 Sales *ther Costs o1 9oo/s Total Cost o1 Sales $0 $0 $0 $0 Month 2 $36,450 $14,538 $0 $14,538 Month 3 $43,740 $17,451 $0 $17,451 Month 4 $50,301 $20,063 $0 $20,063 Month 5 $46,780 $18,659 $0 $18,659 Month 6 $60,814 $24,206 $0 $24,206 Month 7 $34,056 $13,605 $0 $13,605 Month 8 $36,208 $14,461 $0 $14,461 Month 9 $46,825 $18,678 $0 $18,678 Month 10 $50,393 $20,104 $0 $20,104 Month 11 $53,236 $21,234 $0 $21,234 Month 12 $54,700 $21,821 $0 $21,821
9ross Mar2!n 9ross Mar2!n %
$0 0500%
$21,912 60512%
$26,289 60510%
$30,238 60511%
$28,121 60511%
$36,608 60520%
$20,451 60505%
$21,747 60506%
$28,147 60511%
$30,289 60511%
$32,002 60511%
$32,880 60511%
:8penses "a-roll ,/;ert!s!n2 $epre'!at!on ,%ort!)at!on 7 Startup Costs Ban# Ser;!'e Char2es $ues < Su0s'r!pt!ons :/u'at!on < Tra!n!n2 3nsuran'e 7 .or#%an=s Co%p 3nsuran'e 7 propert- < l!a0!l!t3nterest :8pense 7 6T 6oan 6!'ense < "er%!ts Ma!ntenan'e 7 *11!'e Mar#et!n2 an/ "4 M!s'ellaneous "a-roll 7 Char2es "osta2e < $el!;er"r!nt!n2 < repro/u't!on "ro1 +ees 7 ,''ount!n2 "ro1 +ees 7 6e2al 4ent $4,640 $400 $407 $458 $40 $50 $100 $281 $517 $417 $110 $200 $800 $300 $66 $50 $100 $125 $500 $3,000 $7,140 $400 $407 $458 $40 $50 $100 $281 $517 $413 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $8,140 $400 $407 $458 $40 $50 $100 $281 $517 $408 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $11,640 $400 $407 $458 $40 $50 $100 $281 $517 $404 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,140 $400 $407 $458 $40 $50 $100 $281 $517 $400 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,140 $400 $407 $458 $40 $50 $100 $281 $517 $395 $0 $200 $800 $300 $66 $50 $100 $125 $500 $3,000 $12,340 $400 $407 $458 $40 $50 $100 $281 $517 $391 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,340 $400 $407 $458 $40 $50 $100 $281 $517 $386 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,340 $400 $407 $458 $40 $50 $100 $281 $517 $382 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,340 $400 $407 $458 $40 $50 $100 $281 $517 $377 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,900 $400 $407 $458 $40 $50 $100 $281 $517 $373 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000 $12,900 $400 $407 $458 $40 $50 $100 $281 $517 $370 $0 $200 $800 $300 $66 $50 $100 $125 $0 $3,000
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4epa!rs Se'ur!tSuppl!es 7 *11!'e < Store Tra;el < :nterta!n%ent Telephone ( 3nternet ,''ess >t!l!t!es "a-roll Ta8es :%plo-ee Bene1!ts *ther 15% 15% $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $2,500 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $0 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $0 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $2,000 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200 $50 $29 $350 $500 $120 $175 $60 $750 $200
Total *perat!n2 :8penses
$14,796
$18,682
$17,677
$20,673
$21,669
$21,664
$21,860
$21,855
$21,851
$23,346
$22,402
$22,399
"ro1!t Be1ore 3nterest an/ Ta8es :B3T$, 3nterest :8pense Ta8es 3n'urre/
?$14,796@ ?$14,389@ $594 ?$4,617@
$3,230 $3,638 $589 $793
$8,611 $9,019 $583 $2,409
$9,565 $9,972 $577 $2,696
$6,452 $6,859 $571 $1,764
$14,944 $15,352 $566 $4,314
?$1,410@ ?$1,002@ $560 ?$591@
?$108@ $299 $554 ?$199@
$6,296 $6,703 $548 $1,724
$6,943 $7,350 $543 $1,920
$9,599 $10,007 $537 $2,719
$10,480 $10,888 $531 $2,985
Aet "ro1!t Net Profit/Sales
?$10,773@ 0500%
$1,849 5507%
$5,620 12585%
$6,291 12551%
$4,116 8580%
$10,065 16555%
?$1,379@ 74505%
?$464@ 71528%
$4,023 8559%
$4,480 8589%
$6,344 11592%
$6,964 12573%
Page ,
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.able! 1ash )low
Pro Forma Cash Flow Month 1 Cash 4e'e!;e/ Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash 1ro% *perat!ons Cash Sales Su0total Cash 1ro% *perat!ons $0 $0 $36,450 $36,450 $43,740 $43,740 $50,301 $50,301 $46,780 $46,780 $60,814 $60,814 $34,056 $34,056 $36,208 $36,208 $46,825 $46,825 $50,393 $50,393 $53,236 $53,236 $54,700 $54,700
,//!t!onal Cash 4e'e!;e/ Sales Ta8, B,T, CST(9ST 4e'e!;e/ Aew Current Borrow!n2 Aew *ther 6!a0!l!t!es ?!nterest71ree@ Aew 6on27ter% 6!a0!l!t!es Sales o1 *ther Current ,ssets Sales o1 6on27ter% ,ssets Aew 3n;est%ent 4e'e!;e/ Su0total Cash 4e'e!;e/ 0500% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $36,450 $0 $0 $0 $0 $0 $0 $0 $43,740 $0 $0 $0 $0 $0 $0 $0 $50,301 $0 $0 $0 $0 $0 $0 $0 $46,780 $0 $0 $0 $0 $0 $0 $0 $60,814 $0 $0 $0 $0 $0 $0 $0 $34,056 $0 $0 $0 $0 $0 $0 $0 $36,208 $0 $0 $0 $0 $0 $0 $0 $46,825 $0 $0 $0 $0 $0 $0 $0 $50,393 $0 $0 $0 $0 $0 $0 $0 $53,236 $0 $0 $0 $0 $0 $0 $0 $54,700
:8pen/!tures
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
:8pen/!tures 1ro% *perat!ons Cash Spen/!n2 B!ll "a-%ents Su0total Spent on *perat!ons $4,640 $191 $4,831 $7,140 $5,952 $13,092 $8,140 $12,502 $20,642 $11,640 $12,735 $24,375 $12,140 $30,456 $42,596 $12,140 $29,096 $41,236 $12,340 $43,194 $55,534 $12,340 $11,488 $23,828 $12,340 $25,193 $37,533 $12,340 $34,694 $47,034 $12,900 $34,737 $47,637 $12,900 $34,836 $47,736
,//!t!onal Cash Spent Sales Ta8, B,T, CST(9ST "a!/ *ut "r!n'!pal 4epa-%ent o1 Current Borrow!n2 *ther 6!a0!l!t!es "r!n'!pal 4epa-%ent 6on27ter% 6!a0!l!t!es "r!n'!pal 4epa-%ent "ur'hase *ther Current ,ssets "ur'hase 6on27ter% ,ssets $!;!/en/s $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $0 $0 $0 $0 $859 $0 $0 $1,000
Page /
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Su0total Cash Spent $5,690 $13,951 $21,501 $25,234 $43,455 $42,095 $56,393 $24,687 $38,392 $47,893 $48,496 $49,595
Aet Cash +low Cash Balance
?$5,690@ $1,810
$22,499 $24,309
$22,239 $46,548
$25,067 $71,615
$3,325 $74,940
$18,719 $93,659
?$22,337@ $71,323
$11,521 $82,843
$8,433 $91,276
$2,500 $93,776
$4,740 $98,515
$5,105 $103,620
Page 0
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.able! 'alance #heet
Pro Forma Balance Sheet Month 1 ,ssets Start!n2 Balan'es Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current ,ssets Cash 3n;entor*ther Current ,ssets Total Current ,ssets 6on27ter% ,ssets 6on27ter% ,ssets ,''u%ulate/ $epre'!at!on Total 6on27ter% ,ssets Total ,ssets 6!a0!l!t!es an/ Cap!tal $24,599 $0 $24,599 $87,599 $24,599 $407 $24,192 $81,502 Month 1 $24,599 $815 $23,784 $89,055 Month 2 $24,599 $1,222 $23,377 $93,435 Month 3 $24,599 $1,630 $22,969 $116,654 Month 4 $24,599 $2,037 $22,562 $118,027 Month 5 $24,599 $2,445 $22,154 $142,439 Month 6 $24,599 $2,852 $21,747 $108,035 Month 7 $24,599 $3,260 $21,339 $120,090 Month 8 $24,599 $3,667 $20,932 $132,754 Month 9 $24,599 $4,074 $20,525 $136,415 Month 10 $24,599 $4,482 $20,117 $141,990 Month 11 $24,599 $4,889 $19,710 $147,332 Month 12 $7,500 $55,500 $0 $63,000 $1,810 $55,500 $0 $57,310 $24,309 $40,962 $0 $65,271 $46,548 $23,511 $0 $70,058 $71,615 $22,069 $0 $93,685 $74,940 $20,525 $0 $95,465 $93,659 $26,626 $0 $120,285 $71,323 $14,966 $0 $86,288 $82,843 $15,907 $0 $98,750 $91,276 $20,546 $0 $111,822 $93,776 $22,114 $0 $115,890 $98,515 $23,358 $0 $121,873 $103,620 $24,003 $0 $127,622
Current 6!a0!l!t!es ,''ounts "a-a0le Current Borrow!n2 *ther Current 6!a0!l!t!es Su0total Current 6!a0!l!t!es 6on27ter% 6!a0!l!t!es Total 6!a0!l!t!es "a!/7!n Cap!tal 4eta!ne/ :arn!n2s :arn!n2s Total Cap!tal Total 6!a0!l!t!es an/ Cap!tal Net Worth $0 $0 $0 $0 $90,000 $90,000 $42,707 ?$45,108@ $0 ?$2,401@ $87,599 ?$2,401@ $5,535 $0 $0 $5,535 $89,141 $94,676 $42,707 ?$45,108@ ?$10,773@ ?$13,174@ $81,502 ?$13,174@ $12,098 $0 $0 $12,098 $88,282 $100,380 $42,707 ?$45,108@ ?$8,924@ ?$11,325@ $89,055 ?$11,325@ $11,717 $0 $0 $11,717 $87,423 $99,140 $42,707 ?$45,108@ ?$3,304@ ?$5,705@ $93,435 ?$5,705@ $29,504 $0 $0 $29,504 $86,564 $116,068 $42,707 ?$45,108@ $2,987 $586 $116,654 $586 $27,619 $0 $0 $27,619 $85,705 $113,324 $42,707 ?$45,108@ $7,103 $4,702 $118,027 $4,702 $42,826 $0 $0 $42,826 $84,846 $127,672 $42,707 ?$45,108@ $17,169 $14,768 $142,439 $14,768 $10,660 $0 $0 $10,660 $83,987 $94,647 $42,707 ?$45,108@ $15,790 $13,389 $108,035 $13,389 $24,037 $0 $0 $24,037 $83,128 $107,165 $42,707 ?$45,108@ $15,326 $12,925 $120,090 $12,925 $33,536 $0 $0 $33,536 $82,269 $115,805 $42,707 ?$45,108@ $19,349 $16,948 $132,754 $16,948 $33,576 $0 $0 $33,576 $81,410 $114,986 $42,707 ?$45,108@ $23,829 $21,428 $136,415 $21,428 $33,667 $0 $0 $33,667 $80,551 $114,218 $42,707 ?$45,108@ $30,173 $27,772 $141,990 $27,772 $33,904 $0 $0 $33,904 $79,692 $113,596 $42,707 ?$46,108@ $37,137 $33,736 $147,332 $33,736
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Womens Clothing Boutique Business Plan

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6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

+ia,ilities and (apital +ia,ilities (urrent )orro-ing $0

6e !lie- Style Stu(io

$41,707 $1,000 $0 $0 $4",707 0$45,1082 0$",4012

Total (apital and +ia,ilities Total Funding

6e !lie- Style Stu(io

$1,800 $1,050 $1,008 $9,900 $11,!50 $45,108

$7,500 $55,500 $0 $"4,599 $87,599 $1!",707

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

.able! Market Analysis

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

'.S. .etail Ind)stry <ey -acts

5omen8s Clothing Store Ind)stry la Area -acts 9!:

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

All other LA 'outi-ue 7etailers

6e !lie- Style Stu(io

6e !lie- Style Stu(io

NQ>,R2+ NRQ,=R+ N2+,Q+9 NR>,=;+ N>+,;9R NQR,+2>

N9*,2=2 N99,><2 N9*,9>Q N;,29R

6e !lie- Style Stu(io

.able! #ales )orecast

6e !lie- Style Stu(io

1hart! #ales Monthly

1hart! #ales by Year

6e !lie- Style Stu(io

'ecome an active member of A,1, ersonal #elling!

rovide personal appointments

Ket featured in Los Angeles travel J shopping guides

6e !lie- Style Stu(io

.actics! Web! Birect! ersonal #elling!

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

6e !lie- Style Stu(io

1hart! 'reak:even Analysis

6e !lie- Style Stu(io

.able! 'reak:even Analysis

1hart! rofit Monthly

6e !lie- Style Stu(io

1hart! rofit Yearly

1hart! Kross Margin Monthly

6e !lie- Style Stu(io

1hart! Kross Margin Yearly

.able! rofit and Loss

6e !lie- Style Stu(io

6e !lie- Style Stu(io

.able! 1ash )low

6e !lie- Style Stu(io

6e !lie- Style Stu(io

N9,2=2 N99,><2 N9,9>Q N;,29R