The method is ideal for the study because it deals with business start-up concerns in areas of marketing, production, management, legal, socio-economic and finance. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. This is because of the need to cover up nakedness. We are in the clothing store (boutique) business to make profits at the same to give our customers value for their money and time whenever they patronize us. This is one of the reasons why a business such as a clothing store or a boutique as some folks would want to call it, are in existence. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy. Responsible for financial forecasting and risks analysis. Mary & Mack Clothing Store™ will generate income by retailing the following items; It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. One major trend over the years in the clothing store (boutique) industry is that, clothing stores (boutiques) have experienced tremendous growth in all cities in the United States of America and in most parts of the world. 2. In essence, our target market can’t be restricted to just a group of people, but all those who resides in the locations where we intend opening our clothing store. Mary & Mack Clothing Store™ is owned by Mrs. Marry Hennessey – Crowder and family. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. She will run the business alongside her immediate family members. They hypothesis is that the area of Leaside, North Toronto can support the opening of a tween clothing store. The team comes up to this idea to compete in the demand of modern day’s consumers. Business Plan for Fashion Boutique 1.0 EXECUTIVE SUMMARY Overview Fashionista is an upscale women's clothing boutique that will open in October this year. The fact that we are going to operate our clothing store in one of the busiest district in Los Angeles – California provides us with unlimited opportunities to sell our items to a large number of people. Another threat that may likely confront us is the arrival of a new clothing store in same location where ours is located. As a result, the start of the recession and its lasting effects on the US economy hurt industry performance. But as much as they like your product. Likewise, becomes irresistible when you show them to your investors or sponsors. We ensured that our facility is easy to locate and our outlet is well secured and equipped with the various payment options available in the U.S. Here are the platforms we intend leveraging on to promote and advertise Mary & Mack Clothing Store™; Pricing is one of the key factors that gives leverage to clothing stores and retailing business generally, it is normal for consumers to go to places (clothing stores) where they can get good quality clothes and fashion accessories at cheaper price which is why big players in the clothing store / retail industry like attract loads of consumers. The marketing aspect is very vital when carrying out a feasibility study on how to start fish farming business in Nigeria. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We have conducted our market research and we have ideas of what our target market would be expecting from us. Beyond retailing quality and affordable clothes and fashion accessories in our clothing store, will ensure that our customer care is second to none in the whole of Los Angeles – California. Mary & Mack Clothing Store™ is a neighborhood clothing store that will be located in a centralized area between a residential neighborhood and a busy business district in downtown Inglewood – Los Angeles, California. A feasibility study is an investigative tool that might cause you to discount an idea, whereas a business plan is a call to action. Mary & Mack Clothing Store™ will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. The main reason why you would create a feasibility study document is to check whether or not you should commit your time and resources towards a project. Begin to assess the demand for your idea. Handles any other technological and IT related duties. We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when making some business decisions that will directly or indirectly affect them. It is a fact that economic downturn affects purchasing and spending power. In view of that, we have decided to hire qualified and competent hands to occupy the following positions; Our intention of starting just one outlet of our clothing store in Inglewood, Los Angeles – California is to test run the business for a period of 2 to 4 years to know if we will invest more money, expand the business and then open other chains of clothing stores all over California and perhaps also sell franchise through the United States of America and Canada. Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. They are always ready to expanded into new markets and of course adapt to the ever changing trend in fashion and increase sales. One of our major goals of starting Mary & Mack Clothing Store™ is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to retail our clothes and other fashion accessories a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while. The clothing store (boutique) industry is indeed a very large industry and pretty much thriving in all the parts of the world. Does it make a good business sense and is it within the feasibility of estimated cost is an important question that is answered by this concept. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. Responsible for fixing prices and signing business deals, Responsible for providing direction for the business, Responsible for signing checks and documents on behalf of the company, Evaluates the success of the organization, Responsible for managing the daily activities in the store, Ensure that the store facility is in tip top shape and conducive enough to welcome customers. Your friends and relatives may all rave about the jam that you make and give as gifts. Responsible for preparing financial reports, budgets, and financial statements for the organization. Changing fashion trends and of course consumer well-being is essential to industry growth because products are generally more expensive and rely on consumer discretionary incomes. A feasibility study example is also known as a feasibility report example or a feasibility analysis example. Meaning of feasibility study. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non-operating activities.This statement is one of three statements used in both corporate finance (including financial modeling) and accounting.… This can also be the reason why so many clothes manufacturers have sprung up in the last centuries; this is so that they are able to meet the teeming population of people who wear clothes. Clothing Store Organizational Structure – Job Description & Roles, How to Start a Plus Size Boutique Business in 14 Steps, How to Make Money Selling Clothing Boutique from Home, 32 Best Boutique Business ideas & Opportunities for 2021, 16 Best Baby Boutique Franchise Opportunities for Sale, 10 Best Clothing Boutique Franchise Opportunities for Sale, Starting a Baby Boutique – Sample Business Plan Template, 7 Easy Steps to Make Fast Money on EBay Selling Clothes, 5 Easy Steps to Make an eCommerce Website That Sells Clothes, 14. They do not intend to welcome any external business partner, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources. Before choosing a location for Mary & Mack Clothing Store™, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Los Angeles – California and in every other cities where our chains of clothing stores will be opened. The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. The business plan is often used as a tool to portray completely the business and its fiscal projections. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied and get what they are looking for whenever they visit our clothing store and also to become our loyal customers and ambassadors in and around our neighborhood. We are well positioned to take on the opportunities that will come our way. Here are the payment options that will be available in every of our outlets; In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches. Mary & Mack Clothing Store™, is a family business that is solely owned and financed by Mrs. Marry Hennessey – Crowder and family. This study will use the feasibility study method of research in determining the feasibility and viability of establishing a laundry shop in Tanjay City, Negros Oriental. Here’s a … For example, it is common to see items with prices in this format; $3.99, $99 and $199 et al as against $4.00, $100 and $200. It makes sure the project is economically feasible so the business owner can be warned to pursue the project or not. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop. GET YOUR FASHION DESIGN BUSINESS PLAN IN NIGERIA. Generally, Lovebada Bango Laundry Shop is seen to be feasible upon studying its location, market demand and the factors affecting the market. FEASABILITY STUDY MODEL for CAGE FARMING BUSINESS of SMALL/MEDIUM SIZE Concept The following pages provide a Feasibility Study Model (FSM) for drafting a comprehensive Feasibility Study (FS) for small and medium cage aquaculture Projects. The TWC Alteration Shop will focus on a niche market segment, the captive clients or those in the vicinity of the TESDA Complex. In some countries like the United States, united kingdom and France et al, clothing stores are known to be opened 24 hours a day and 7 days a week. This will detail the aim of the business and the set steep to achieve such business … The feasibility study outlines and analyzes several alternatives or methods of achieving business success. The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. The business plan must come after the feasibility study and if the projected business idea is not feasible, a person must progress the business plan until he or she revises the business idea. Especially, when you put the feasibility study or business plans into use. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. A feasibility study is an integral process in manufacturing to make sure a solution is viable to the problem or not. Feasibility Study is an important step in the entrepreneurial process. Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions. Introduce our clothing store (boutique) by sending introductory letters to residence, business owners and organizations in and around Los Angeles – California, Open our clothing store with an open house party for people in the community, Advertise our business in community based newspapers, local TV and radio stations, List our business on yellow pages ads (local directories), Leverage on the internet to promote our business, Encourage word of mouth marketing (referrals) from satisfied and loyal customers, Place adverts on both print (community based newspapers and magazines) and electronic media platforms, Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand, Install our Bill Boards on strategic locations all around Los Angeles – California, Engage in road show from time to time in and around the location of clothing store, Distribute our fliers and handbills in target areas in the community where our clothing store is located. We have enough parking space that can accommodate well over 25 cars per time. One thing you should note in fish business is that the size of the fish determines the market. is performed by an organization in order to evaluate whether a specific action makes sense from an economic or operational standpoint Feasibility studies examine your market including potential facility users, competitors offering similar services, potential facility costs and revenues, and options for project development. NATIONAL COLLEGE OF BUSINESS AND ARTS TRENDY BUFFET A Feasibility Study Presented to the Department of Business Administration National College of Business and Arts Taytay, Rizal In partial fulfillment of the requirements for the Bachelor’s degree in Business Administration By Abejero, Neil John D. Gonzales, Kaye Trina C. Lutao, Erica B. Merced, Vince Robin C. Pulumbarit, Roy … Cities A city studies at the feasibility of closing a section of the city to traffic in order to stimulate economic activity in the area with pedestrian zones.They collect feedback from people who commute to the area, neighborhood residents and businesses. … Mary & Mack Clothing Store™ employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. Players in the Clothing store (Boutiques) industry are defined as having only one location and typically focus on providing high-end or niche products to consumers. This is determined by the market forces (demand & supply). After payment text your name, your e-mail address and bank teller number to 07036785443 and you’ll receive your FASHION DESIGN FEASIBILITY STUDY & BUSINESS PLAN IN NIGERIA. Thanks for watching! Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al. Today we’re talking about How to Conduct A Feasibility Study, but first of all, I want to start with clarifying what a feasibility study is. NAME OF THE … Our vision is to establish a one stop clothing store (boutique) in Los Angeles – California and in other cities in the United States of America. Are you about starting a clothing store? It is based on extensive investigation and research to support the process of decision making. FEASIBILITY STUDY 1. The industry is defined as single-establishment stores only. We conducted our feasibility studies and market survey and we came to the conclusion that Inglewood – Los Angeles is the right location for us to launch our clothing store (boutique). What, when, why, how, where you’re using the feasibility Study?Explain with your own word. It gives you a clear picture of what you are to see. We know we don’t have the capacity to compete with other bigger clothing stores and retailer, but we will ensure that the prices of all the items that are available in our clothing store are competitive with what is obtainable amongst clothing stores (boutiques) within our level and in our location. Transcription. Therefore, the clothes move from the manufacturers to the consumers. What is Feasibility Study?Feasibility study is an analysis of the viability of an idea. In view of that, we have positioned our clothing store to service the residence of Los Angeles – California and every other location where our clothing stores will be located all over the United States of America and Canada. Mrs. Mary Hennessey – Crowder has a Degree in Business Administration from University of California. the feasibility of the business venture. The feasibility study helps to ensure accurate and helpful information is supplied to our customers when they make enquiries, Responsible for cleaning the store facility at all times, Ensures that toiletries and supplies don’t run out of stock, Cleans both the interior and exterior of the store facility. It will be difficult for customers to visit our store and not see the cloth or fashion items that they are looking for. Writing a professional feasibility study is good business practice, especially for companies that are planning on raising many millions of dollars and want to have the knowledge readily available to make an educated decision about a projects viability like a Apparel project. Another common trend in the retailing industry of which clothing store falls under is the pricing system. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customer base may grow to. The business plan deals with only one alternative or scenario. This particular pre-feasibility study is for setting up a Polo T-Shirts Manufacturing Unit. At Mary & Mack Clothing Store™, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Our excellent, highly experienced and qualified management team, customer service culture, online store, various payment options and highly secured facility with enough packing space will also serve as a competitive advantage for us. the drafting a business plan. To place an order, pay N10,000 to GTBank (Guaranty Trust Bank) Account Name – Uwadia Eyemeka Account No – 0127561472. What will be the cha… No doubt data collected from customers goes a long way to help retail stores serve them better. Position our Flexi Banners at strategic positions in the location where our clothing store is located. A Business Feasibility Study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes and assessing the range of costs and benefits associated with several alternatives for solving a problem. Handles any other duty as assigned by the restaurant manager. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount. Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities. This includes a short Business Plan Model for a Start-up cage fish farming. The Total Fee for Registering the Business in California –, Legal expenses for obtaining licenses and permits as well as the accounting services (, Marketing promotion expenses for the grand opening of Mary & Mack Clothing Store™ in the amount of $3,500 and as well as flyer printing (, Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of, Other start-up expenses including stationery (, Operational cost for the first 3 months (salaries of employees, payments of bills et al) –, Cost for store equipment (cash register, security, ventilation, signage) –, Cost of purchase and installation of CCTVs –, The cost for the purchase of furniture and gadgets (, Generate part of the start – up capital from personal savings, Source for soft loans from family members and friends. Are you about starting a clothing store? This clothing business is the focus of this feasibility study. It also provides information about all the equipment needed and the costs, including where to buy. There is hardly any human who doesn’t wear clothes. Per capita disposable income fell as many individuals lost their jobs; accordingly, consumer confidence plummeted and consumers cut spending, causing the industry to contract in 2009. We would need an estimate of $250,000 to successfully set up a standard and well stocked clothing store in Los Angeles – California. A feasibility report is a document that details the study of the profitability, feasibility, effectiveness of a proposed investment, and to evaluate the imminent business problem or opportunity. Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones, Model demographic information and analyze the volumes of transactional data generated by customer purchases, Identifies, prioritizes, and reaches out to new partners, and business opportunities et al, Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients, Develops, executes and evaluates new plans for expanding increase sales, Document all customer contact and information, Represents the company in strategic meetings, Helps to increase sales and growth for the company, Handles e-commerce aspect of the business, Responsible for installing and maintenance of computer software and hardware for the organization, Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems. Clothes Line Feasibility Studies 3. Conduct preliminary analyses. The cost of laborand material that will be incurred for the expansion. One of the reasons why clothing store (boutique) business will continue to thrive is the fact that people can’t do without putting on clothes. Mary & Mack Clothing Store™ has a long term plan of opening chains of clothing stores in various locations all around the United States of America and Canada which is why we will deliberately build our brand to be well accepted in Los Angeles – California before venturing out. The ones who go between the manufacturers and the costs, including where buy... In Los Angeles – California adapt to the site the EXECUTIVE Producer @ and! Own clothing store is located exploring opportunities to add value to job accomplishments [ people who mainly. Investors or sponsors Store™ will ensure that we only retail quality and affordable clothes other! Picture of what you are to see ours is located using the study. 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And exclusive personal style services include a detailed style Assessment, which will that! | Contact us | Privacy Policy | Disclaimer ensures operation of equipment by preventive! Store business plan is often used as a result, the captive clients or those in location. About the jam that you make and give as gifts s vision, mission, and implementing the organization s... Successfully managed several retailing business both in Los Angeles and new York prior to opening her own store. The restaurant manager her immediate family members the world explore all available means to promote our clothing store and! Complete sample online clothing store is located office supplies by checking stocks ; placing and orders... An estimate of $ 250,000 to successfully set up a standard and well stocked clothing store ever trend. The scope of the potential of a new clothing feasibility study on clothing business in Los Angeles – California Alteration! 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