Introduction Clothing is a beautiful visual demonstration of the social and emotional needs of people wearing it. It also portrays in a clearly understood visual manner, what people different cultures and styles want socially. Fashion, through times, has gone through many rapid changes and bizarre extremes that it has examples of nearly every kind of clothing function. It takes a lot more than just branding and good designs to initiate and manage a fashion brand successfully. Astonishingly, most of the times highly famous as well as many talented designers failed to progress due to reason not closely related to the concept behind the clothes. Initiating a collaboration project with some other fashion industry professional is a good way to market your business. While collaborating with another designer, you get a chance to advertise your brand in front of their audience, whereas the talent of collaborator is displayed to yours. Collaboration also exhibits your capability to build up network as well as to work well with other businesses and designers. 1 Chapter I Overview Vision Empowering innovation and design to provide total customers satisfactions. We strive to be a caring and well-managed organizations for our business partners and a responsible citizen in our society. Mission To innovate, to lead, to enhance, to provide a good quality products and services to global customers to make best value, difference to our branding to stay ahead of fashion trends, market changes and the latest technology. To enhance the quality of life for our business partners, customers and employees. Objectives Low cost budget To provide quality clothing and customer service at a reasonable price. Productivity of people and resources. Core values Excellent Service We will deliver what is best for our clients and deliver only what is best for our customer. Respect for people We value your people, encourage their development and reward their performance. 2 Quality We provide good products and deliver premium value to our customers. Honest Dealings We treat our customers fairly. Chapter II Executive Summary Smile Clothing is a start-up retail establishment that will sell fashionable clothing to men and women, we will locate our shop in downtown in Baguio City which is a popular retirement and tourist destination. While our initial goal is to open one shop, expansion plans include potentially franchising our retail store or building well recognized brand name. In turn, we would hope to penetrate a sizable portion of the online retail market. The fashion and retail industry trends to be overly youth focused. However, by closely following generational fashion trends as well as our own customers purchasing preferences, we will tailor our inventory to meet the specific needs in our client. We will sole focus on our styles, colours and fits to flatter the needs of her figure will be our specialty. Chapter III General Business Description Smile clothing will sell a combination of widely recognized name brands as well as clothing lines from select fashion designers. We will closely follow generational fashion trends as well as our own customers purchasing preferences. Solely focusing on the styles, colours, and fits to flatter them. While apparel such as business clothing, 3 casual wear, formal wear, semi-formal wear will be our main staple, we will also offer some accessories such as belts, scarves and hats. We will earn some profits by selling our own merchandise. Our pricing structure will remain flexible, as we will implement suggested retail pricing or common brands as well as the standard practice of key storming prices. Additionally we will use a value based pricing structure, which measures the value of our products to our customers such as easy access, quality, customer service and styles flattering to our budget consumers. We will implement end of season sales, holiday and overstock sales, multibuy saving and promotional coupons at strategic intervals. Chapter IV Market and Industry The fashion industry is one of the most dynamic and thieving industries in the world. It combines a vast variety of activities from the proper production of products, the transformation of pure materials, and the creation of articles of clothing shoes and accessories and others. The smaller clothing markets and complementary productions are in ideal position to become one of the foremost profit generations within this business, and marketing for clothing store is key. Market Analysis We have some intelligent strategy to do, whether you have an online store or not, organizing parties and activities a way to attract both faithful clients and those that don’t know what they can find in your store. The recommended course of action is to prepare an agenda in which events are laid out at the beginning of the year so that can be planned with time, using the proper marketing tools, and taking advantage of efficient 4 communication channels. The most appropriate time to make noise with fashion industry are the ff. Kick off a new season Celebrate anniversaries or special dates in the life of business. Creates special sale to liquidate clothing. Chapter V Marketing Plan Service Description Smile clothing offers full collection of apparel that is classy upscale, and versatile. We are focusing on Casual wear, Formal, and Semi Formal wear in which we will giving Contemporary. Ethnic, Western wear. Our main focus would be on latest trends. We will try to give the best quality, colours, designs, fabric. And so the best environment that women and men will find ease and would surely love to buy from our smile clothing again after first buying, our clothes will appeal image conscious, fashion aware, and choosy type of men and women will feel high among their social circle. Comparison of the Service Smile clothing will market all types of clothing for both men and women. Including Casual wear, Formal wear, Semi Formal wear that will surely affordable and good quality. The smile clothing will also include some accessories like hats, belts, and scarves. Which will complement each other to sell complete outfits. Smile clothing will aim to create trendy, fashionable, clothing and accessories with a youthful edge. In our outlet they would love to come and buy. 5 Location Market area Market Area Smile Clothing will be located near the University of the Cordilleras and SM Baguio City. Gov. Pack Rd, Baguio Benguet. Market Share Column1 Smile Clothing 13% BESOBESO 10% 40% Penshoppe Bench 19% TopShop 15% 10% OXYGEN 6 Every business has a goal obtaining profit from economies endeavours: despite this management also consider another business especially the social impact in the community. SMILE CLOTHING -40% BENCH - 19% BESO- BESO - 10% TOPSHOP - 10% PENSHOPPE - 15% OXYGEN - 13% Price Study Pricing is set according to market indicators. Set in such a way that it covers and generate revenue for the boutique. In the start it requires lower prices in order to penetrate in the market. Than high price for the assurance of high quality as it is perceived. Proposed PRODUCT Into: PRICES After 9 months Competitive price for the future Casual Wear 500 800 700 Semi- Formal Wear 1000 1500 1300 Formal Wear 1500 2000 1400 Promotional Measure Smile Clothing will be done through signage, flyers, coupons, direct mail, strategic business, internet and social media, each marketing aspect will require a cohesive strategy that is mutually reinforcing to get the most benefit. A more detailed strategy aim be viewed in the marketing and sales chapter of the business plan. 7 Market Budget The budget for the business is 2,000 000 to cover all the experiences for this project. SWOT ANALYSIS STRENGHTS WEAKNESS Good and High quality of Machinery High rate and Price High Qualified Staff Less Exclusive outlet Adaptability of Newness Supportive financial Govt. Institutions Lack of idea sharing OPPORTUNITIES THREATS Expand Intro Emerging Economy Lack of Knowledge Enter New Product Market Brand Cannibalization Acquire Move Market Substitute New Entrants Competitors Political Instability. 8 Chapter VI Production Plan Product Strategy Product Class: Fabric/ Clothing Product Category Casual Wear Semi-Formal Wear Formal Wear Accessories Product Line Each product line will have the following product lines. Ethnic Wear Contemporary Western Wear Business Location Smile Clothing will be located near the University of the Cordilleras and SM Baguio City. Gov. Pack Rd, Baguio Benguet. 9 GANTT CHART 1ST QUARTER ACTIVITIES MAY JUNE JULY AUG 2ND QUARTER SEPT OCT NOV DEC 1. BUSINESS PLAN 2. INVESTMENT 3. OBTAINING LICENCES AND PERMITS 4. HIRING PERSONNEL 5. PURCHASE OF EQUIPMENTS 6. ARRANGING THE INTERIOR DESIGNS 7. MARKETING PROMOTION 8. START 10 Chapter VII Organizational and Management Job Description I. Manager Is an employee who is responsible for planning and directing and overseeing and leading the work of a group of people in many instances. II. Sales Clerk Someone who sells goods in a store III. Tailors A Person whose occupation is making fitted clothes such as suits, pants and jackets to fit individual customers. IV. Cash keeper A person who handles the cash register at various location such as the point of sale in retail store. V. Stock Manager Responsible for managing storage warehouses a delivering products to retail stores. VI. Inventory manager Who inspect the levels of business supplies and raw material to identify storage. VII. Guard A person who keeps watch, especially a soldier or other person formally base signed to protect a person or to control access to a place 11 Chapter VIII Financial Plan Source of Capital This project will be self-induced fund by our personal savings. Financial projections are based upon sales volume at the levels detailed in the sales forecast and represent; to the best of managements knowledge and belief. The expected assets, liabilities, capital, revenues and the expenses Major Assumptions Total Cost of the Project s. no Amount Particulars 1. Fixed Capital 1,000,000 2. Writing Capital 1,000,000 Total cost of the project 2,000,000 Financial Arrangements Particulars Amount Loan from bank 0 Self- induced 2,000,000 Total funding 2,000,000 12 Projected Profit Statement Particulars Note no. Amount Less: Raw Material 1 200,00 Salary and Wages 2 150,000 Salesman Commission 3 5,000 Electricity 4 20,000 Repairs and Maintenance 5 7,000 Transport and 6 5,000 Insurance 7 8,000 Interest of loan 8 0 Advertisement 9 10,000 Reimbursements Experience Depreciation 10 Estimated Profit – 405,000 Fund Flow Statement Sources Amount Application Amount Loan from Bank - Land and Building 350,000 Own Capital 2,000,000 Machines 50,000 Working Capital 300,000 Other Assets 150,000 13