Business Plan for Designers Clothing Boutique - Research Paper Example

Running Head: Prepare a…. Topic: Prepare a business plan for designers clothing company Table of contents: Executive Summary Vision Statement Mission Statement Business Profile Business Strategy Company Products and Services Marketing Strategy Location and Layout Competitor Analysis Description of Management Team Plan of Operation Loan or Investment Proposal Conclusion Order#:449473 Topic: Prepare a business plan for designers clothing company Designers Clothing Boutique: (Rewrite) Executive Summary Designers Clothing Boutique believes that every woman is special and her clothing needs are unique. We create the apparel after a detailed discussion on the perception of the client. Whether the dress is needed for one-time use to make it really remarkable or use on special occasions! Exclusiveness is the watchword for a fashion conscious woman. What a woman dislikes is imitation. She must look different from the other woman. To put it in plain language, they need to feel jealous about the dress. The name Designers Clothing Boutique is synonymous with quality and exclusiveness. Those who had dealing with us in the past need no more elaboration about us. That which is evident requires no introduction or appreciation. Our clothing selections and exclusive personal style services would make it an attainable reality to own a special dress for every woman. Beauty, to a great extent, is God-given. But we shall certainly make one more presentable and admirable. Our Style Assessment will be done by an experienced specialist, and we have specially designed a questionnaire aimed to reveal your projections as to the type of dress needed by you. We have a unique album that gives minute details/measurements of thousands of patterns, and an exclusive photo album. You will be shown an exclusive range of fabrics in different color/patterns, which is specially created for us by the experts and you won’t find this range in any other boutique during the season for which it is intended for. This is the guarantee and the entire range is copyrighted. Take our assurance to your exclusiveness. Women assess it better and men understand it well. Fashion is such a unique concept. I head the think tank (management) of our designers group consists of 4 women and 1 man. This is no ordinary paper partnership. Each one of us is an expert, and thinks much ahead than what is available in the fashion world today. Our sole concern is our customers are well and exclusively dressed. Step into a right company, and we look forward for a long and happy association with each of our client. People come to us with an enquiry and end up being our permanent clients. We have a purpose in everything we do—to work for the entire satisfaction of our customers. Patrick Lencioni writes, “An organization that has achieved clarity has a sense of unity around everything it does. It aligns its resources, especially the human ones, around common concepts, values, definitions, goals, and strategies’, thereby realizing the synergies that all great companies must achieve.”(p.153) This much about the present status of the company! We wish to reach out the dress-conscious women on a more intensive as well as extensive scale. The company is on the move and vigorous expansion plans are on the card, as we intend to open 12 new showrooms in the current financial year. This apart, plans are underway to open 6 overseas branches so that the company would be an important global player in the fashion world and accessories for women. Vision Statement: Dress administers the body and reveals the soul of a woman. Mission Statement: *To show women their real world in a friendly and comfortable environment. The best-designed dresses need not be necessarily costly. *To remain quality conscious at all times and at all costs. To give well-constructed fashions from cutting-edge designers who exclusively create for us. *To provide the best possible and matching accessories, in tune with the latest fashion trends. *To provide free assessment service as to what is best for the personality of a client and infuse confidence about the uniqueness of the dress chosen. *To provide exclusive services in every area, small or big--from selection of buttons to the main component of the dress-the fabric. *Provision of partial/total adjustments in the dress before and after delivery without any differentiation in sales and after-sales service. *Service to the clients is a way of life in Designers Clothing Boutique and this is the first concern of all employees. Business Profile Our history is brief, but glorious. Established in the year 2000 with a modest turnover of 1,75,000 dollars in the first year, the company continues to do excellent business year after year. Our last year’s turnover was about 16,000,000 dollars. Expansion and exclusiveness has moved hand in hand. I head the team of four women designers, and one gentleman who is a fashion expert. Prior to launching this company, I was fashion consultant for some of the top multinational companies for a fairly long period of 5 years and possess varied experience. I have also participated in important fashion shows at international levels. Thus, a formidable team governs the designing destiny of this company. We have many freelance designers as our associates, depending upon the need and quality of services of our clients. The clients have the opportunity to interact with the freelance designers, when needed. Our staff in all categories is about 600 and many are associated with us on contract basis. The company has six directly managed outlets in USA in New York, Chicago, Washington, Houston, California and Les Vegas. Our present expansion plan of opening eighteen branches in one year indicates the grit and determination of the company. With this step, perhaps we will achieve in one year, the total turnover of more than what we achieved since the inception of the company. At present, we have two overseas outlets at London and Paris. The company markets its exclusive fashion accessories through dealers in every State of USA. Expansion is not the only concern for the company, to maintain the quality is! The accounting side is managed by those who are professionally trained and who understand the world of fashion. Our brand name “Sign & Design” hardly requires any introduction, elaboration or appreciation from our end. It is the brand known all over the world now for creativity and exclusiveness. 80% of the overall strength of those who are in direct employment with us is women, for obvious reasons. We exclusively cater to the need of women, and we have a research wing to keep track and advise us about the fashion world. Many fashion ideas concerning men and women have to move in tandem and special studies are carried out regularly in this area. Internet revolution has contributed to explosion in fashions. Many of the movie stars and fashion models are our esteemed clients. We have learnt much from their ideas and needs. We look forward to the future with great hope and as things stand today, the coming years are going to be precedent-shattering, and we expect to increase our turnover manifold from the present level, as we have expansion plans for opening 18 additional directly managed company showrooms in Asian and European countries. Business Strategy Any potential customer has access to written publicity material in the form of brochures; souvenirs printed for special occasions like fashion shows, and the company’s profile about the past ten year’s performance. The customer has access to sample fabrics and the new designs for the current year. A brief review in fashion forecasting is available to the potential client, to enable one to make up the mind. The photo album reveals the important visitors to the boutique, and the visual presentation of the samples and examples of work are of added benefit to the client to take the decision. We have a thirty minutes presentation, which reveals the vital aspects of the functioning of the organization. The company officials encourage detailed questioning by the clients, to judge their expectations. We always welcome new ideas and firmly believe that the customer is more informed about one’s needs, though our input will help one to take an appropriate decision, in the light of the latest trends in the fashion world. Company Products and Services On visiting our exclusive sample room, the customer will get detailed information about our products and the new products/designs that we are introducing for the first time. By now, we believe, the customer is convinced about the progressive outlook of the company. The company website, which is updated every day, is the source of authentic information, covering the entire range of our products. The Home Page of the website gives the history and the path traversed by the Company to achieve the present level. We have products of catering to every taste in the world of designing. The matching fabric and the stunning colors! Once one goes through our website, we believe the major part of our marketing is done silently. The customer can get any further information through our toll-free numbers. Marketing strategy The main issue with the marketing strategy is the creditability of the company. This is the asset for our marketing team, headed by an individual holding the post of Chief General Manager (Marketing) at the head office level. He is assisted by two General Managers, one looking after the existing retail showrooms in USA, England and France and the other looking after the project of creating new showrooms, as part of the expansion program. The company’s website and the internet marketing facilities are constructively exploited by the marketing team and sales personnel. The special presentation of the company is within the computer of every sales personnel, and they make its appropriate use wherever needed. Location and layout Locations for expansion and opening of the new showrooms are done after a careful survey. With the special and exclusive layout of the showrooms, one can immediately identify that it is the showroom of the Designers Clothing Boutique. The architecture, the color scheme, the interiors are more or less similar. To keep the price structure uniform, the extra overheads devolved on a particular showroom are absorbed by the company. A customer has the choice to buy the accessories from any showroom with no price differentiation. Competitor analysis We are fully seized of this issue. With the advent of internet, acute competition as for the range and prices is inevitable. This does affect the growth of our business to some extent, but our brand name is our asset. The special cell in our marketing department takes care to identify direct and indirect competitors. We have a ready listing of local business establishments in the area where our showrooms are located; we are constantly on search for the internet competition, and look out for mail order business that poses threat to our products, especially the accessories. Our team members visit various showrooms posing as customers to study their price structure, understand the nature of their customer base and the innovative services they offer. But our specialized designer apparel section is largely unaffected by completion as price is no criterion for such special customers. Quality and exclusiveness is their main concern. But a test customer provides us with lots of relevant information as for the level of company’s customer service, judge the return policies, and to lay down the company’s protocol when problems arise. To understand the ground realities of the market is essential to create a strong competitive analysis. Once the information is gathered, our special research team works on it, and gives recommendations how to use the situation to the advantage of the company. Such an analysis provides us with information about the strengths and weaknesses of each competitor. We try to provide something that our competitors cannot easily manufacture. The online clothing dealers can offer a varied selection than the in–store retailer, who has limitations of space. The former has the advantage of not keeping the full inventory, as he supplies goods on demand. However the customers know, and we make it a point always to impress upon the customers that the advantages of in-store purchases. Customers have the visual appreciation of the various types of designs and colors, they can try the clothes on, and the returning policy is helpful with immediate exchange possibilities. With no ambiguities, the purchase becomes realistic and also a pleasure-giving activity. The customer has the advantage of direct bargaining. We believe in thinking outside the box, and protect the dignity of the purchases made by the customers. Description of management team: The five designers, who are partners of the business organization, decide everything in the ultimate analysis. I am modest enough to say that I, in my capacity as the Chairman and Managing Director of the Company, take the final decision, in consultation with exclusive customers. The bigger the status of the client, the more exclusive becomes the discussion and dress details. It is always a challenge to retain the exclusive top clients. The administration, production and marketing departments are headed by General Managers. They have the freedom of functioning and to take decisions, within the policy framework of the organization. The recruitment, except that of designers, is done by the respective General Managers, and the interviewing board consists of three officials. The pay scales and other perquisites to the staff are best in the industry. Monthly staff meetings are attended to and addressed by all partners and General Managers. Grievances of the staff, if any, are sorted out through negotiations. The Company can boast of best personnel relations and it is free from labor strikes since its inception. Plan of operation Plans of operation are simple and straightforward. We would like to strengthen the existing branches and expand by opening more branches, taking into consideration the market conditions, and with no compromise on quality. To maintain and retain the existing customer base is our priority. A satisfied customer is our best salesman. We have a modern Warehouse Management System, which takes care of domestic and international sectors. The customers must receive professional and most effective service. Our latest software system takes every aspect into consideration from implementation to completion with continual technical and functional support. We have a system of issuing quarterly press releases in important newspapers/periodicals and through TV channels in which we introduce our new products and declare something that assists sales promotion of our products. Loan or investment proposal The impending expansion plan of opening eighteen branches in one year demands huge investments. The enclosed copy of balance sheet and income and expenditure statements will give you the clear picture of the financial status of the company. That we have sustained the growth of the company all these years, without any institutional/borrowing from banking system indicates the financial health of the company. As of now, the capital requirements of the company are met by the partners from their own resources. The company enjoys high reputation in the market, and we get our raw materials requirements from our established vendors on 120 days credit, which helps us in managing the turnover of the business smoothly. Moreover, we encourage the employees to invest in fixed deposits with the company where we pay 2% internet more than what is offered by the banking institutions. The company has felt the need to think about the future in view of the massive expansion plans. The fixed deposit scheme is being offered to the public, and to the vast base of our existing clientele. The rates of interest are 2% above the rates offered by the banking institutions. Our deposit schemes are approved by the Controlling authorities of the Government. The deposits are accepted for a minimum period of 1 year and a maximum of 5 years. The interest is paid at half-yearly rests. For the benefit of the salaried class, we have a Recurring Deposit Scheme, when investment of a pre-decided sum is made every month, and the rates of interest are the same as applicable to Fixed Deposits. All the deposits are eligible to participate in a monthly draw for 100 unique gifts. Conclusion: All our efforts end with one goal. To help women establish their personal style to enhance their reputation and in effect contribute to our reputation. We are a truly unique boutique in every sense of the term. ********** Bullet Points: We have designs for your dress and designs for your savings! If you save out of your earnings, you earn out of your savings! What you dress is important; how you dress, what you dress is more important! Our investment plans are the best designs for your future! Designers Clothing Boutique is the final frontier for all your expectations regarding fashion needs. The search stops here! The safety of your investments is just a call away…know, realize and invest after consulting our investment adviser! The service is available 24x7 & our toll free number is:………………………………… Do you have the will to grow? We have the investment plans. Our best advertisers are our satisfied customers Let the first item of your monthly budget be a deposit with Designers Clothing Boutique. We have many investment schemes with one common goal-secure your future! Works Cited: Lencioni, Patrick. The Four Obsessions of an Extraordinary Executive; Jossey-Bass, San Franacisco,2006. Read More