Strategic business plan for retail merchants

Students Our Competitive Advantage The retail pharmacy industry is known to be highly competitive in the U. S and in most parts of the world. There are alternative provides like mail-order firms, grocery chains, mass merchants and dollar stores; these are the real competitors in the industry. These competitors ensures that they do all that lies within their powers to gain favorable market share of the available market in any given region.

Strategic business plan for retail merchants

Sell the hottest trends and fashions with your own retail clothing store or fashion boutique. Use this free clothing line business plan to get your business started, including setting up an online clothing store. We will locate Booming Boutique in downtown Pleasantville, Florida, which is a popular retirement and tourist destination.

In turn, we would hope to penetrate a sizable portion of the online retail market. There are roughly 75 million Baby Boomers, half of which are women.

In Pleasantville, the current population is just fewer than 40, We will initially seek customers locally, but will increase our reach as we build our brand and secure our image.

And to that end, we plan to promote our retail business with an ambitious, targeted marketing campaign, which will include a grand opening event, local media coverage, print advertising and a direct-mail campaign.

Mathews has worked ten years in the retail industry, including four years as the manager of an antique furniture shop. Our company will generate revenue from the retail sale of clothing and other merchandise. We will achieve month-to-month profitability within the first year. We are currently seeking additional funding from outside angel investors and business loans.

Start-up funds will be used for renovations, inventory and operating expenses such as rent, utilities and payroll.

Further, most of our initial investment will also be used to purchase retail equipment and inventory software — all of which will produce future benefits for the company. A small portion of our investment will be used to create an online clothing store.

There are inexpensive e-commerce tools that provide a very easy way to create an online boutique store where we can sell our fashions all over the world. We hold equal shares of ownership in the company. As our local population ages and more Baby Boomers reach retirement-age and migrate to Florida, we recognize the need for a shop that caters to the up-beat, fashion-forward Baby Boomer generation who want to look and feel young.

However, we have identified an ideal spot in the downtown district of Pleasantville. The gorgeous area includes numerous restaurants, an art gallery, coffee shop, candy store and a picturesque park in the town square.

When considering the addition of wall mounts for merchandise, multi-level clothing displays as well as creative floor planning, this facility is large enough to support future growth.

How to Create a Strategic Business Plan | barnweddingvt.com

Additionally, we will be able to conduct all aspects of our business from this location since it has access to a loading dock and a back office for managers. This includes deliveries and shipments, inventory management and administrative duties such as finance, buying and marketing.

Once we launch Booming Boutique, our primary asset will be our brand, which will convey style, quality and a great shopping experience. In the long-term, it is this brand that will separate Booming Boutique from other retailers both locally and nationally.

While apparel, such as business clothing, casual wear, jeans and formal wear will be our main staple, we will also offer some accessories such as belts, scarves, and hats. Our pricing structure will remain flexible, as we will implement suggested retail pricing on common brands as well as the standard practice of keystoning prices.

Additionally, we will use a value-based pricing structure, which measures the value of our products to our customers such as easy access, quality, customer service and styles flattering to our target consumer. We will implement end of season sales, holiday and overstock sales, multi-buy savings and promotional coupons at strategic intervals.

Because our primary concern will be ensuring our consumers are happy with the fit and style of their purchase, we will provide products tailored to all shapes and sizes of women. In addition, we will make every effort to have petite and plus size versions of our merchandise in stock.

If they are not in stock, ordering them will be easy, cheap and efficient. Further, Booming Boutique will not just be a store that sells clothes. Our clientele will benefit from an experienced, knowledgeable sales staff. Out of the gate, our goal is to implement a superior customer service system.

Beyond our friendly reception and an inviting atmosphere, Booming Boutique will also offer customers fashion information and advice.

Our trained personnel will provide counsel that women simply cannot find at other clothing stores. Our hip and qualified fashion-industry expertise will ensure our customers walk away with the perfect outfit.

In the Downtown District, the shops most closely competing with Booming Boutique are as follows: EcoWise Boutique, which targets a younger demographic and specializes in natural fiber clothing. They also carry local art and jewelry. Petal Place Boutique targets women within our target demographic as well, but they specialize in an affordable, folksy style of clothing with handmade shawls and embroidered shirt sets.8 Proven Strategies For Retail Success.

By Bob Phibbs.

strategic business plan for retail merchants

I had been hired in my business consultant role by a guy looking to open a new store. That is my number one strategy for your store's success: Know who your customers are, and who they aren't.

Read the executive summary for a retail business plan sample. Learn how to write your own executive summary for your unique business idea. Clothing Retail Store Business Plan Sample. By Legal Templates • February 4, • Business Plan Samples.

flyers, coupons, direct mail, billboards, strategic business relationships, . Retail Pharmacy Business Plan Template – Executive Summary Kingsley Greeno Retail Pharmacy Store will be located in one of the busiest streets in Baltimore, Maryland, U.S.

We have been able to lease a facility for 5 years with the option of acquiring the property once the property is put up for sale. Oct 18,  · A strategic plan is a roadmap to grow your business. To help you succeed, use this proven strategic plan template, and the information below details the 13 key sections you must include in your.

Retail Financial Services 8 Business and Agriculture 9 Corporate Financial Services 10 ATB Investor Services 11 Our Strategic Service Units 12 2 BUSINESS PLAN 3 We can transform banking.

Reimagine it. To achieve that, our strategic business plan will focus on: The ATB Story (The Story). Business Plan Strategy John Debrincat. Agenda Business models Plan to succeed Mission Strategy Technology 53% of all retail sales influenced by the web by merchant account application Business plans identify issues TRAPS Failure to plan.

How to Create a Strategic Business Plan | barnweddingvt.com