We have enough parking space that can accommodate well over 25 cars per time. One major weakness that may count against us is the fact that we are a new clothing store in Inglewood – Los Angeles and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business. Sustainability and Expansion Strategy, How Non Profit Organizations Benefit the Society/Community, Footwear (Shoes, Canvas, Sandals and Slippers et al), Other fashion accessories (belt, handbags, sun shades, caps, hats and wristwatches et al). Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. We are quite aware that just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new clothing store in same location where ours is located. One thing you should note in fish business is that the size of the fish determines the market. Fashionista's clothing selections and exclusive personal style services include a detailed Style Assessment, which will ensure that our customers are well dressed. Clothing stores (boutiques) can be strictly designer based (i.e. 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. The cost of laborand material that will be incurred for the expansion. 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. Position our Flexi Banners at strategic positions in the location where our clothing store is located. One thing is certain; we will ensure that we only retail quality and affordable clothes and other fashion accessories in our clothing store. This is the summary of the SWOT analysis that was conducted for Mary & Mack Clothing Store™; Our location, the business model we will be operating on (one stop physical store and online store), varieties of payment options, wide range of clothes and other fashion accessories from local and international manufacturing brand, opening 24 hours a day and 7 days a week and our excellent customer service culture will definitely count as a strong strength for Mary & Mack Clothing Store™. 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. Begin to assess the demand for your idea. 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. 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. 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. One thing is certain; we will ensure that we have a wide range of quality and affordable clothes and fashion accessories from top fashion labels available in our store at all times. The business plan deals with only one alternative or scenario. Feasibility Study IMPRESSIONS Executive summary Basically we are going to open a female designer ware boutique in Multan as we realized after market analysis that a strong demand exist in this south Punjab region especially in Multan as women are now being aware of the current trends want themselves to be dressed accordingly Media has its remarkable role in this regard to set new trends in female … 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. Aside from having varieties and quality of the items in a convenience store, one of the easiest ways for players in this line of business to sell the items on their racks as fast as they can and keep re – stocking is to ensure that the prices of their items are a bit lower than what is obtainable in elsewhere. 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. Feasibility studies examine your market including potential facility users, competitors offering similar services, potential facility costs and revenues, and options for project development. It is a fact that economic downturn affects purchasing and spending power. We would need an estimate of $250,000 to successfully set up a standard and well stocked clothing store in Los Angeles – California. This Penn State Extension video tells us that feasibility studies are an important step in the entrepreneurial process.. Apart from explaining what a feasibility study is, the speaker also shows how it is different from a business plan. We are aware that there are several small clothing stores and chains of clothing stores all around Los Angeles, which is why we spent time and resources to conduct our feasibility studies and market survey so as to enable us locate the business in an area that will support the growth of the business and also for us to be able offer much more than our competitors will be offering. GET YOUR FASHION DESIGN BUSINESS PLAN IN NIGERIA. As a matter of fact, it is common to find clothing stores located alongside a busy road, in a busy community, in an urban area, or near a railway or railroad station or other transport hub. It may be the case that consumers in general aren’t willing regularly spend extra for an organic, homemade product. 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. Defining job positions for recruitment and managing interviewing process, Carrying out staff induction for new team members, Responsible for training, evaluation and assessment of employees, Interfaces with third – party providers (vendors), Ensure that clothes and fashion accessories are properly arranged, Supervise the entire sales staff and workforce, Handles any other duty as assigned by the CEO, Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams, Help to ensure consistent fashion trend and quality of clothes and fashion accessories on our rack, Responsible for the purchase of clothes and other fashion accessories for the organizations, Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors. 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. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. 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. Handles any other technological and IT related duties. It is based on extensive investigation and research to support the process of decision making. 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. Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. Conducting a feasibility study involves the following steps: 1. General Info On Feasibility Study And Business Plans. 2. The feasibility study is an evaluation and analysis of the potential of a proposed project. Are you about starting a clothing store? When it comes to selling items that are found in clothing stores, there is indeed a wide range of available customers. It is important to state that, there is no company with a dominant market share in this industry. Over the years, clothing stores (boutiques) have experienced tremendous growth in all cities in the United States of America and in most parts of the world. The research will be complied into a business plan including a literature review and finishing with recommendations. Prepare a projectedincome statementIncome StatementThe Income Statement is one of a company's core financial statements that shows their profit and loss over a period of time. 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. We will ensure that we only hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). 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. He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. 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. 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. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives. 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. 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. Application and Obtaining Tax Payer’s ID: Application for business license and permit: Leasing of facility and remodeling the shop: Drafting of Contract Documents and other relevant Legal Documents: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: Creating Official Website for the Company: Creating Awareness for the business both online and around the community: Health and Safety and Fire Safety Arrangement (License): Opening party / launching party planning: Compilation of our list of designers’ labels and fashion accessories that will be available in our clothing store: Establishing business relationship with vendors – wholesale suppliers of various brands of clothes and other fashion accessories that we intend retailing. Transcription. To place an order, pay N10,000 to GTBank (Guaranty Trust Bank) Account Name – Uwadia Eyemeka Account No – 0127561472. It is recommended that an extensive study for other aspects of the business feasibility is conducted and the execution of the marketing program developed accords to what really satisfies the market. This feasibility study aimed at establishing an alteration shop as an income generating project of TESDA Women’s Center (TWC). There is hardly any human who doesn’t wear clothes. We are well positioned to take on the opportunities that will come our way. Over and above, the clothing store (boutique) industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets (chains of stores) in key cities. 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. 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. The industry is projected to grow at 3.1 percent annual growth rate. 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. 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 drafting a business plan. Intuitively, our feasibility study and business plans are explicit. Various clothing designs have evolved over the years too. Pro-Tip: When completing a feasibility study, it’s always good to have a contingency plan that you test to make sure it’s a viable alternative. 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. Conduct preliminary analyses. But as much as they like your product. It gives you a clear picture of what you are to see. 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. Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. The feasibility study helps to narrow the scope of the project to identify the best business scenario(s). The marketing aspect is very vital when carrying out a feasibility study on how to start fish farming business in Nigeria. 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. 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). This particular pre-feasibility study is for setting up a Polo T-Shirts Manufacturing Unit. This clothing business is the focus of this feasibility study. leading the development and implementation of the overall organization’s strategy. 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. The feasibility study outlines and analyzes several alternatives or methods of achieving business success. Boutique Business Plan in Nigeria - Feasibility Study Sample for Clothing Business Boutique Business Plan in Nigeria - The following report and recommendation relate to the proposal of Ijekpoms authentic Boutique to establish a boutique at Main Market, Enugu State. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. She has successfully managed several retailing business both in Los Angeles and New York prior to opening her own clothing store. Mary & Mack Clothing Store™, is a family business that is solely owned and financed by Mrs. Marry Hennessey – Crowder and family. A feasibility study example is also known as a feasibility report example or a feasibility analysis example. Generating Funding/Startup Capital for Mary & Mack Clothing Store™. 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. 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. 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. 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. only one designer’s collection is sold there), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market. No doubt data collected from customers goes a long way to help retail stores serve them better. Our clothing store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Los Angeles and few meters away from a busy business district. 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. This feasibility study for the clothing shop, that is Adidas stores, was conducted over a period of 3 months, from June to September, 2010. NAME OF THE … 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. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. 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 purpose of this report is to determine project parameters and define solutions to the problem that Further needs analysis . The feasibility study helps Please note that the above projection might be lower and at the same time it might be higher. We have conducted our market research and we have ideas of what our target market would be expecting from us. Our mission is to establish a clothing store business that will make available a wide range of clothes and fashion accessories from top brands at affordable prices to the residence of Los Angeles – California and other cities in the United States of America where we intend opening our outlets and selling our franchise. Feasibility Study is an important step in the entrepreneurial process. 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. 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. In response to the ever growing demand for clothes and other fashion accessories, clothing store owners have opened additional stores thereby creating chains of stores across different cities. She will run the business alongside her immediate family members. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop. This includes a short Business Plan Model for a Start-up cage fish farming. This will detail the aim of the business and the set steep to achieve such business … What is Feasibility Study?Feasibility study is an analysis of the viability of an idea. This is because of the need to cover up nakedness. 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. Mary & Mack Clothing Store™ is going to operate a standard and registered neighborhood clothing store that will retail a wide range of clothes and fashion accessories from both local manufacturers and international manufacturers just like any other registered and standard clothing stores in the United States and in any part of the world. Feasibility Study Clothing Line business plan pdf: all business start-up needs a well detailed business plan which would serve as the guide map for the successful starting and running of such businesses. A definition of feasibility study with examples. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the public. Here’s a … It makes sure the project is economically feasible so the business owner can be warned to pursue the project or not. 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. is performed by an organization in order to evaluate whether a specific action makes sense from an economic or operational standpoint Generally, Lovebada Bango Laundry Shop is seen to be feasible upon studying its location, market demand and the factors affecting the market. Log in, Boutique Business Plan in Nigeria – Feasibility Study Sample for Clothing Business. Thanks for watching! This study aims to investigate and rationalize the need of starting or investing in a project by way of technical feasibility, viability of the business and how economical the business is. The proposed business venture should preferably be located in any of the major urban cities of Pakistan; to reduce initial capital investment, the proposed unit is to be established at rental premises. Handles any other duty as assigned by the restaurant manager. 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. In other to continue to be in business and grow, we must continue to sell the products that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. 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. Responsible for financial forecasting and risks analysis. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. The TWC Alteration Shop will focus on a niche market segment, the captive clients or those in the vicinity of the TESDA Complex. 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. A feasibility study is an investigative tool that might cause you to discount an idea, whereas a business plan is a call to action. 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 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. What, when, why, how, where you’re using the feasibility Study?Explain with your own word. Mrs. Mary Hennessey – Crowder has a Degree in Business Administration from University of California. Ensures that the organization operates within stipulated budget. 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. Mary & Mack Clothing Store™ will ensure that all our customers are given first class treatment whenever they visit our store. People that patronize clothing stores cut across the rich and the poor, the highly place in the society and the lowly placed; everybody need clothes to cover their nakedness. Are you about starting a clothing store? There are various areas which should be taken into account like in the present case following are the different factors that feasibility study will include: 1. Another common trend in the retailing industry of which clothing store falls under is the pricing system. the feasibility of the business venture. Advertise our clothing store in our official website and employ strategies that will help us pull traffic to the site. Likewise, becomes irresistible when you show them to your investors or sponsors. This is determined by the market forces (demand & supply). Especially, when you put the feasibility study or business plans into use. It will be difficult for customers to visit our store and not see the cloth or fashion items that they are looking for. 2. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. They are always ready to expanded into new markets and of course adapt to the ever changing trend in fashion and increase sales. In response to the ever growing demand for clothes and other fashion accessories, clothing store owners have opened additional stores thereby creating chains of stores across different cities. We want to give people who patronize our clothing store (boutique) the opportunity to choose from a wide range of both locally and foreign clothing designer labels (brands) at highly affordable prices. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. Please note that this amount includes the salaries of all the staff for the first month of operation. Not see the cloth or fashion items that are found in clothing stores, there is any... Of a tween clothing store business plan deals with only one alternative or scenario add... Up nakedness changing trend in fashion and increase sales customers goes a long to... Well over 25 cars per time the above projection might be higher our... 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Mary & Mack clothing Store™ a one stop fashion Shop maintaining personal networks ; participating in opportunities... To make sure a solution is viable to the problem or not evaluation and of! Will help us pull traffic to the problem or not designer based ( i.e the biggest clothing stores there... New products that is solely owned and financed by Mrs. Marry Hennessey – Crowder and.... The business plan template & feasibility study sample for clothing business knowledge budding. That the size of the TESDA Complex of $ 250,000 to successfully set up a standard and well clothing! Selling items that are found in clothing stores ( boutiques ) can be strictly designer based i.e... To portray completely the business plan including a literature review and finishing with.! 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