Shoe Store business plan
Passion Soles is a women-only shoe store in Eugene, OR. Eugene badly needs an upscale shoe store for women because the current stores have an inadequate selection. Currently, women that need a special pair of shoes often must travel up to Portland to find the right shoes.
Passion Soles will have an unmatched, extensive selection of different shoes. Generally, the size of Passion Soles' selection is cost prohibitive due to all the different sizes that must be stocked per style. Passion Soles has a unique business model that allows them to have an extensive selection at the cost of only stocking one size per style. This is accomplished through a special relationship with the wholesaler so Passion Soles can receive a customer's needed size within two days. Rush overnight shipping is available at additional cost.
Passion Soles will leverage Holly Heels' extensive knowledge of the women's retail shoe industry to quickly gain market share. Profitability will be reached by month ten and $284, 000 will be generated in revenue in year three.
1.1 Keys to Success
The key to success is to meet the demand for an upscale women's shoe store with a wide selection and focused customer attention.
The objectives for the first three years of operation include:
- To create a product-based retail store whose primary goal is to exceed customer's expectations.
- To increase the number of clients served by 20% per year by serving an unmet need with outstanding selection and customer service.
- To develop a start-up business, surviving off of its own cash flow.
Passion Soles' mission is to provide Eugene with an upscale selection of women's shoes and outstanding customer service. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.