Resources: Products will be ordered straight from the manufacturer as this rules out the possibility of counterfit products whis is a big problem in fassion retail. The store is retail only and nothing is produced within the store.
Short Term aims: The first aim I which to fullfill is to gain public interst in my store as if it gains a fasionable reputation more consumers will want to shop in the store in order to fit in with like minded people. A profit is also required within the first year of operation inorder to pay of start up costs.
Long Term Aims: Once start up costs have been covered I plan to expant the store in cretain sectons which generate most public interest.
Finance: On top of monies put forward by muself I plan to apply for a bank loan within the reigon of £25,000 to cover the costs of rent, equipment, decoration, stock and advertising.
Advertising: I think adertising should be applied in areas where it will gain the attention of my target range (youngersters with a high desposible income), therefor I think flyers handed out around clubs and bars in bournemouth such as Elements, Bar Med, Circo, Berlins ect, will be successful. A radio advertising campaign on Fire Fm or 2cr could attract the right sort of attention. I think the idea of a big opening is not a stratagy I shall use as I feel this approach is tacky.
Staff: Staff should not be a problem as there are many people in Bournemouth looking for jobs in retail. Sucessful aplicants will need to be lively and be concious of their aperance as this will reflect on the store, a dress code shall not be enforced as this gives employees a chance to be individual.
Constraints: My main constraint shall be compertition which is fairly fierce in Bournemouth. Other shops in the same market sector in Bournemouth include- Envy, Top Man, River Island, Spira. My second main constraint is the money available to cover start up costs, the more money available the more flexible my plan shall be to changes.
Company description
Advantage
Limitations
Tax Implication
Income tax
Goals
Skills and Talants
The products
The products that my shop will sell are mens clothes. These will almost all be by named brands and will therefor attract fassion concious customers. Stock will have to change with the time of year so that all stock is this season.
The clothes I shall be selling are quite expensive and not available everywhere so people will travel to purchase these goods. This will also mean that less items are sold than in a larger cheaper clothes shop so correct advertising is vital.
Product/Competition Rescearch
I think my main competition will be from the following companies:
Topman- Topman in Bournemouth is situated at the top of commercial road. This is an ideal location as it attracts many impulse buyers and window shoppers. They are a national company with stores all over Great Britain. Topman stores are usually linked with their sister company TopShop which specilises in womens clothing. In Bournemouth only the lower floor of Topshop (womens wear) is wheelchair accesable as Topman is upstairs. The store is only accessable by foot because Commercial road is pedestrianalised, but there is a NCP multi story car-park about 300 meters away. The Store is in the main commercial area of bournemouth but is not accessable by car but compramise has to be made.
Topman stock their own brand of clothing labled ‘Moto’ which designed with style in mind and garments range from everyday jeans to stylish wollen jumpers and tops. During the winter season they also stock stylish Snow and Ski wear under the lable of ‘Motosno’ Examples below:
Spira- Spira is based about 60 meters up the road from Topman. They stock the more well known lables associated with fassion and style. A full list of these is below:
French Connection Ben Sherman
Mish Mash
fcuk Frank Wright
Levi Ben Sherman
Sonneti
Dunlop
