Provide an estimate of your break-even point, or when your clothing costs and other expenses equal your revenue, which will let investors know how much product you need to sell in order to make money.
Because of the high rate of employee turnover at major mass retailers, customer service and personal detail has been lost. What is the competition missing?
Some of the different elements include:.
We will also implement a referral program rewarding customers who refer new customers with discount coupons. Millennial Clothing Store will maintain financial balance while delivering a quality product to our customers.
Clothing will always be in high demand. Why is this the right time to enter this market? Both co-owners will assume leadership roles within the company and will be responsible for daily operations, overseeing marketing efforts, buying merchandise and managing inventory and all other administrative duties.
Low cost publicity activities will also be taken advantage of such as posting sale flyers on community bulletin boards and online. Millennial, like Mark Zap's, decided to carry a line of clothing that is a "more simple" but still gives off "a chameleon type of feel" in which "it can fit into any type of setting—not too bright or loud.
A positive cash flow will be produced at the end of the first year.
For example, if you want to expand your store to two locations within the first five years or expand your selection of clothing or accessories, include these plans in this section.