They are always ready to expanded into new markets and of course adapt to the ever changing trend in fashion and increase sales. We are in the clothing store (boutique) business to make profits at the same to give our customers value for their money and time whenever they patronize us. Please note that this amount includes the salaries of all the staff for the first month of operation. We would need an estimate of $250,000 to successfully set up a standard and well stocked clothing store in Los Angeles – California. This is because of the need to cover up nakedness. One thing is certain; we will ensure that we only retail quality and affordable clothes and other fashion accessories in our clothing store. 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. 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. 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. But we will ensure that within our capacity we make available a wide range of clothes and fashion accessories et al from different brands both local and foreign manufacturers in our store. 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 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. 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. 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. 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 that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied and get what they are looking for whenever they visit our clothing store and also to become our loyal customers and ambassadors in and around our neighborhood. 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. Log in, Boutique Business Plan in Nigeria – Feasibility Study Sample for Clothing Business. Handles any other duty as assigned by the restaurant manager. Conducting a feasibility study involves the following steps: 1. What is Feasibility Study?Feasibility study is an analysis of the viability of an idea. NATIONAL COLLEGE OF BUSINESS AND ARTS TRENDY BUFFET A Feasibility Study Presented to the Department of Business Administration National College of Business and Arts Taytay, Rizal In partial fulfillment of the requirements for the Bachelor’s degree in Business Administration By Abejero, Neil John D. Gonzales, Kaye Trina C. Lutao, Erica B. Merced, Vince Robin C. Pulumbarit, Roy … 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. Another threat that may likely confront us is the arrival of a new clothing store in same location where ours is located. Are you about starting a clothing store? What, when, why, how, where you’re using the feasibility Study?Explain with your own word. To learn how to write a formal feasibility study on the proposed business, here are the key items to consider: The nature of the investment, Management and organization, team, Economic and financial planning, and analysis, small business marketing plans and strategies. 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. This feasibility study aimed at establishing an alteration shop as an income generating project of TESDA Women’s Center (TWC). 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. This is because of the need to cover up nakedness. A feasibility study example is also known as a feasibility report example or a feasibility analysis example. General Info On Feasibility Study And Business Plans. This clothing business is the focus of this feasibility study. Performs cash management, general ledger accounting, and financial reporting, Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for the organization, Serves as internal auditor for the organization, Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services, Manages administrative duties assigned by the store manager in an effective and timely manner, Consistently stays abreast of any new information on Mary & Mack Clothing Store™ products, promotional campaigns etc. 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. 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. Intuitively, our feasibility study and business plans are explicit. The fact that we are going to operate our clothing store in one of the busiest district in Los Angeles – California provides us with unlimited opportunities to sell our items to a large number of people. 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. 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. This particular pre-feasibility study is for setting up a Polo T-Shirts Manufacturing Unit. To place an order, pay N10,000 to GTBank (Guaranty Trust Bank) Account Name – Uwadia Eyemeka Account No – 0127561472. Mary & Mack Clothing Store™ is owned by Mrs. Marry Hennessey – Crowder and family. We have been able to conduct a thorough feasibility studies and market survey and we know what our potential customers/residence within the location where our clothing store will be located will be looking for when they visit our clothing store. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. Clothing stores (boutiques) can be strictly designer based (i.e. 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 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. 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). Per capita disposable income fell as many individuals lost their jobs; accordingly, consumer confidence plummeted and consumers cut spending, causing the industry to contract in 2009. Feasibility Study is an important step in the entrepreneurial process. No matter what name you use, the importance stays the same. Mary & Mack Clothing Store™ is a neighborhood clothing store that will be located in a centralized area between a residential neighborhood and a busy business district in downtown Inglewood – Los Angeles, California. We are going to explore all available means to promote our clothing store. It gives you a clear picture of what you are to see. 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. The Business Feasibility 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. 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. It will be difficult for customers to visit our store and not see the cloth or fashion items that they are looking for. This includes a short Business Plan Model for a Start-up cage fish farming. It makes sure the project is economically feasible so the business owner can be warned to pursue the project or not. 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. 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. 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. 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. The clothing store (boutique) Industry revenue has since recovered; however, the industry is facing more stringent competition than ever before because of a rising number of imports and consumers’ shift to online shopping et al. 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. This is determined by the market forces (demand & supply). Introduce our clothing store (boutique) by sending introductory letters to residence, business owners and organizations in and around Los Angeles – California, Open our clothing store with an open house party for people in the community, Advertise our business in community based newspapers, local TV and radio stations, List our business on yellow pages ads (local directories), Leverage on the internet to promote our business, Encourage word of mouth marketing (referrals) from satisfied and loyal customers, Place adverts on both print (community based newspapers and magazines) and electronic media platforms, Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand, Install our Bill Boards on strategic locations all around Los Angeles – California, Engage in road show from time to time in and around the location of clothing store, Distribute our fliers and handbills in target areas in the community where our clothing store is located. 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. The clothing store (boutique) industry is indeed a very large industry and pretty much thriving in all the parts of the world. Your friends and relatives may all rave about the jam that you make and give as gifts. Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities. 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. As a result, the start of the recession and its lasting effects on the US economy hurt industry performance. Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. 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. These are the areas we intend generating our start – up capital; N.B: We have been able to generate about $100,000 (Personal savings $75,000 and soft loan from family members $25,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. 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. the drafting a business plan. This is one of the reasons why a business such as a clothing store or a boutique as some folks would want to call it, are in existence. The TWC Alteration Shop will focus on a niche market segment, the captive clients or those in the vicinity of the TESDA Complex. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. … 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. 2. Ensures that the organization operates within stipulated budget. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. 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. 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. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. GET YOUR FASHION DESIGN BUSINESS PLAN IN NIGERIA. One of our major goals of starting Mary & Mack Clothing Store™ is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. leading the development and implementation of the overall organization’s strategy. The business plan is often used as a tool to portray completely the business and its fiscal projections. She will run the business alongside her immediate family members. One of our business goals is to make Mary & Mack Clothing Store™ a one stop fashion shop. It is based on extensive investigation and research to support the process of decision making. 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. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats. 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. 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. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non-operating activities.This statement is one of three statements used in both corporate finance (including financial modeling) and accounting.… The clothes move from the manufacturers and the costs, including where to buy feasibility study on clothing business who between... Indeed a feasibility study on clothing business large industry and pretty much thriving in all the equipment needed the. Use, the start of the overall organization ’ s feasibility study on clothing business … Line. Becomes irresistible when you show them to your investors or sponsors arrival of proposed... There are [ people who are mainly the ones who go between the manufacturers and the consumers the,! First class treatment whenever they visit our store and not see the or! 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