If you are looking for a sample retail store business plan template, here is a business plan for starting a children’s supply, beauty supply or clothing retail store and free feasibility study example you can use.
RETAIL STORE BUSINESS PLAN SAMPLE
A retail store business is one of the businesses that can be set up by virtually anybody. The amazing thing about this business is that it can be set up on any level. You can decide to set it up on a very large scale or on a small scale. The scale at which a retail business is set up is chiefly dependent on how much capital you have.
Although a retail store business might be one of the easiest businesses to set up, if you must make the best out of it, then you should have a business plan. This article contains a top quality retail store business plan sample. With this sample, you can easily come up with the perfect retail store business plan that is needed to kick-start your business
Business Name: T and T Retail Store
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
T and T’s retail store is a registered retail store that will be located in Dallas, Texas. Already, we have gotten a facility in a choice location. The comfort of our prospective customers matters a lot to us. As a result of this, we have gotten a facility that comes with a restroom as well as a parking space for up to 30 cars.
T and T retail store will be operated by just one person until the business grows and the need arises to employ extra hands to make the business run smoothly. We have already made necessary arrangements for the supply of the products that we will be selling. Some of the products that will be sold in this store are stationeries, foodstuff, and toiletries.
Products and Services
At T and T retail store, the well-being of our prospective customers is something that we are very particular about. As a result of this, we are not all about the profit. We will ensure that all the products that are gotten at our store are of high quality and will give our prospective customers all the satisfaction that they desire.
Some of the products that we will be making available to our clients are
- Toiletries (Toilet papers, tubes of toothpaste, deodorants, bathing soaps)
- Kitchen equipment
- Electrical appliances.
Our vision at T and T retail store is to set up a retail store business that will become a household name in our environment and will meet the basic demands of our prospective clients.
At T and T retail store, our mission is to make sure that our prospective customers have access to all the products that they need to make their lives comfortable. We will go to any length to make sure that our customers get services of the highest quality from us.
The retail store industry is one that really has nothing complex associated with it. In spite of this, there is a lot of work to be done on our part if we must achieve our mission. Now, the fact that this business is very easy to start makes the level of competition in this industry very high. This simply implies that make it to the top will not be as easy as it is in some other industry.
As a result of this, we have put some structures in place to make our mission a reality. Some of the things that we have put in place are a large parking space for over 30 cars, discount price for our regular customers, and great customer service.
The retail store business is not in any way new. The truth remains that the retail store industry is perhaps one of the oldest industries. The fact that the retail store industry is quite old means it is not a mystery to anyone that is interested in setting it up. As a result of this, there is a high level of competition in this business that only seems to be getting more intense as the years go by.
Sales and Market Strategy
It is only normal for a new business to have a little drawback while trying to make it to the top. We have carried out a detailed study and have come up with some strategies to help us make it to the top in this business very easily. Our sales and marketing strategies are;
- We will have a website for our retail store. This will help create awareness about the existence of our retail store business.
- We will also sell at cheaper prices than our competition.
The market for retail store businesses is inexhaustible. To make the best out of this business, we have selected a few people to make our products available to them. Those in our target market include
- Expectant Mothers
- Business executives
Source of Startup Capital
This business will be started with $20,000. This amount will be used to get the right facility as well as the goods that are required to start this business. We have been able to raise 60% of this amount from friends, family and our savings. The remaining amount will be sourced from the bank.
With one of the biggest parking space owned by any retail store business in our possession, we are certain to attract more customers than our competition.
This is a retail store business plan for T and T retail store. This business will be located in Dallas, Texas.