Business plan for retail Store
Classique Gifts Etc. is a start-up retail store offering fine gifts, collectible dolls and doll accessories. The store will be located in Lexington, Kentucky, catering to the middle- and upper-class consumers who look beyond the congested retail malls for the special shopping experience. In addition to offering a wide array of unique, quality products, the consumer will enjoy friendly and knowledgeable customer service and a convenient, uncongested location.
This business plan is prepared to obtain financing in the amount of $50, 000 to purchase inventory and to help cover expenses in the first year of operations. We are also asking for a credit line of $10, 000 to be used as necessary in low cash flow periods. Brenda and Charles Gajdik will own and operate the store together as a team. They will provide $40, 000 in cash as an equity investment to be used in start-up costs, equipment purchases, and operating capital.
The sales forecasts used in this plan are very conservative compared to a similar business now operating in Lexington. Brenda has observed the strengths and weaknesses of this store and is convinced it can be done better.
- To develop Classique Gifts Etc. into the premier gift retail store in Central Kentucky.
- To begin and maintain a gross profit margin above 40% for the first year.
- To acquire a customer base of 4, 000 by the end of the second year by using personal customer service and marketing.
- To achieve a substantial net profit by the end of Year 3.
Classique Gifts Etc.will be a retail gift store specializing in fine gifts, collectible dolls and doll accessories. We want to provide products from quality suppliers and provide professional customer service in a friendly environment.
1.3 Keys to Success
To succeed in this business we must:
- Sell products the customer desires and are of the highest quality.
- Provide friendly customer service.
- Establish excellent vendor/supplier relations that will facilitate quick shipment of orders.
- Advertise and promote our store immediately to take advantage of the current Christmas shopping season.