Executive Summary for a Clothing Store Business Plan
Are you interested in writing an executive summary for your clothing retail store? Starting a clothing store business can be fraught with challenges especially during the formative years of the business. This may be attributed to a lot of things. However, a major culprit is always from the foundation, of which the business plan is part of. Being one of the most essential requirements of a business, this document contains the business on paper even before it starts. It is therefore how well you plan, and write these plans and follow through with these plans that will significantly impact your clothing business.
This article focuses on the clothing store business plan executive summary because of the importance of this section to the clothing line business. If your business will attract funding from investors, then this section needs to be tidied up as this is the first port of call for most investors going through the business plan. We are providing a sample clothing store business plan executive summary to aid entrepreneurs with developing and writing unique business plans for their clothing store business.
The Executive Summary
Everyday Garments is a clothing store business located in the Washington DC area and specializing in the provision of clothing for all age groups and sexes. We are a in the clothing business to make an impact as there are several other clothing stores which offer similar services. However, what stands us out are our competitive pricing which are considerably lower than those offered by our competitors.
The secret to our marketing strategy can be traced to business partnership we have painstakingly forged with cloth manufacturers over the years, who provide these products to us at highly discounted rates, thereby allowing for a considerably higher profit margin which is gotten from sales even after adjusting our prices to be lower than that of our competitors. This is a strategy we have adopted in attracting considerably patronage.
Our source of funding will come primarily from 2 sources which include a debt financing arrangement which will be accessed from reputable financial institutions, and secondly from savings put together for this purpose by the founder Mrs. Daisy Robertson. A major part of this funding will be put into renting a business outlet as well as the payment of our workforce who will include cleaners, customer care representatives and security staff among others.
The required sum for starting this business is currently put at $400,000. Out to this amount, $150,000 has been realized from the savings meant for this purpose, while the balance of $250,000 will be gotten from external sources (debt financing from reputable financial institutions). In spite of the stiff competition from other clothing store companies, we are poised to penetrate the market and capture a healthy market share. This is to be achieved to increased marketing and advertisement of our services.
We also have expansion plans. This would be realised through establishing more clothing stores to cover other areas of Washington DC and beyond. While operating local, our sights are set on the bigger picture which is to be a national brand. We have plans of expanding our business operations to cover more states within the United States.
We have developed innovative ways of business which is aimed at making shopping less stressful for our esteemed clients. Thus, we would accommodate all types of payment options to cater for the unique needs of clients. This would include the acceptance of cash payments for services, the use of the Point of Sale (POS) machine, the use of mobile and internet banking as well as the acceptance of cheques among others. We will continue to add more payment options to our range of payment services.
Our mission at Everyday Garments is to build a respected national brand known for excellence. From the on-set, we would not lose sight of this objective as we would strive to make this a reality through making deliberate efforts aimed at achieving our lofty goals. We are not only focused on profits alone, as we would also be involved in projects which have a direct bearing on the lives of members of the communities where our businesses are located. Therefore, we would be donating to charity as well as commitment to the goals of the community. This creates a win-win situation for our business and also to the community.
Keys to Success
These are our areas of strengths which would give us an edge over our competitors. To achieve this, we would be using effective marketing and advert tools to attract sales and patronage. Both print and electronic channels will be deployed for use to achieve maximum reach. Also, by providing personalized customer care services to our customers, we create in them the much need trust which eventually results in customer loyalty.
We would also encourage our satisfied clients to tell friends and family about our services. An incentive would be offered to encourage them do so. Apart from this, all new clients will be given attractive discounts which are our way of warming ourselves into their hearts.
With this clothing store business plan executive summary sample, the entrepreneur having little or no knowledge on how to write a good clothing store business plan executive summary is guided through the entire process by this article. This will eliminate most of the common problems faced by entrepreneurs.