ANGELIQUE’S CLOSET
LLC
Business Plan
P.O. Box 1201
York, PA 17403-1201
717-747-6994
AdoredOne@gmail.com
Latoya Jones-Frazier
17th, June, 2012
Table of Contents
Executive summary (statement of the business purpose)
1. Business
1. Description of business
1
2. Products and Services
2
3. Marketing Plan
2
4. Economic Facts
2
5. Competition
3
6. Operating procedures/ Pricing
3
7. Personnel
3
8. Management
5
2. Financial data
1. Pricing Details
6
2. Loan applications
7
3. Capital equipment and supply list (Attached)
8
4. 12 Month Cash Flow
9
(Attached)
5. Breakeven analysis (Attached)
10
6. Balance Sheet
11
7. Profit & Loss Projection, first year
12
8. Profit & Loss Projection, three year
13
9. Startup Expenses
14
3. Supporting documents
1. Tax returns of principals (partners in the business) for last three years, personal financial
statements (all banks have these forms)
2. Copy of proposed lease or purchase agreement for building space
3. Copy of licenses and other legal documents
4. Resume
5. Letter(s) of intent
6. Business Insurance
7. Timeline
Executive Summary
Angelique’s Closet was formed in July, 2012 in the County of York, Pennsylvania, as a Limited
Liability Comapany. Angelique’s Closet is a second hand retail store that caters to those in the
community who are looking for cost effective items such as clothing, shoes, accessories, baby and
toddler furniture. The dynamic team that will be responsible for the daily operations of the retail
store will be the manager, owner Latoya Frazier, a store supervisor, lead cashier, cashier, stock clerk,
and driver. Angelique’s Closet will hire these staff to handle these aspects of the business.
The company’s focus is to provide items and materials that are in very good condition for people of
both genders and all ages. Our goal is to be the top retail store servicing in this particular market, by
offering items that are environmentally serviced.
The company’s goal is to be a company that is geared towards eliminating these matters to ensure the
safety of the company’s consumers.
1. I plan to focus on infection control and infestations, by ensuring the items we get are
free of harmful matters before putting it out for sale. We plan to do this by putting in
place a system that will thoroughly inspect items used for inventory
2. Ensure all baby/toddler products are up to standards by checking items on the
safekids.org website.
3. My intentions are to obtain 80% market share from other thrift stores in the area
because we want to keep our prices at a basic flat rate; whereas, other thrift stores’
pricing varies.
Angelique’s Closet will be located in York, PA. A location has been selected and a letter of intent
has been sent via Rock Reality. The hopefully location for the company will be 14 N. George Street,
York, PA.
I believe in a struggling economy, this type of store will be suitable and prosperous.
1
I.
Business
Description of Business
Angelique’s Closet, LLC operates in the Retail industry. We will supply some new, but mostly used retail,
including male/female apparel, shoes, books, toys and some baby furniture.
Mission Statement: Angelique’s Closet’s mission is to offer quality, clean second hand and new clothing in
an assortment of sizes and environmentally safe furniture and accessories at a fairly low price.
Company Goals and Objectives:
1. To create a shopping environment that caters to the apparel needs of those who searching for good,
quality used clothing for less.
2. To receive a 50-80% profit margin within the first year.
3. To receive a 95% profit margin within the third closing year.
4. To have a steady customer base of over 500 by the end of the third operating year.
5. To be an active owner in my business to provide the best customer service.
Business Philosophy:
Angelique’s Closet market products to everyone, regardless of financial status. I believe secondhand retail
is a growth industry given the fact the company/service is recession proof. I do not see any changes in this
industry at this time, only that my company will help families from all walks of life, budgets and meet
income by finding good items at low prices.
My most important company strengths and core competencies is the fact that I am very keen on making
sure all of my products are in good condition, working properly and clean. I believe this will make the
company succeed. My major competitive strengths will be companies who have already been in this
industry for many of years and have developed a business-customer relationship (name for themselves). My
background experience, skills, and strengths, I personally bring to this new venture, is business
management, marketing experience, college background, working with people who are less fortunate, and
the eagerness to help others.
My legal form of ownership is Limited Liability Company. I have selected this form, because of the
flexible form of enterprise that blends elements of partnership and corporate structures.
2
Products and Services:
My products/items will include:







Women’s apparel, accessories, shoes
Men’s apparel, accessories, shoes
Children’s apparel, accessories, shoes
Furniture: Children’s/toddler
Toys
Books
Room Decor
Marketing Plan & Economic Facts:
I. Market Segments can include all areas of the following:
1. Ages
2. Sexes
3. Income (Upper Class, Middle Class, Lower Class)
4. Education Levels
5. Occupations
6. Lifestyles (psychographics, hobbies)
7. Religions
Market research - Why?
Economic recessions helped the thrift store industry grow, because the market’s focus was to get
secondhand goods to those in need at very low prices during hardships. When the economic situations
began to strengthen revenue may fall. Therefore, it is important to be able to compete with stores such as
Walmart, Goodwill, Kid to Kid and Salvation Army, which offers comparably low prices.
Market research - How?
1.
2.
3.
4.
Items sold at the store will include new and used items.
Have a great marketing plan which includes incentives for devoted/returning customers.
Hold “in store sales” promotions to lure in new customers.
Great customer service also keep customers; therefore, building a system for marketing such as
flyers, signs, TV/radio ads, mailings, email lists, etc. to communicate to the community sales
promotions, products and service.
5. Focus on shoppers who understand and have come to realize their money will go further at thrift
stores than at shopping hubs.
6. Strive to keep products/service fashionable to appeal to younger customers.
7. Maybe offer in-store percentage credit to those who donate/contribute used items.
3
Competition:
Factors will give my company competitive advantages or disadvantages?
New idea or technology: clean steam materials, items, products before they are placed for sale.
 Advantages:
o All clothing will be steam cleaned
o Books and toys will be sanitized before they are placed for sale
o Cheaper prices than original shopping hubs
 Disadvantages:
o Not everyone shops for second hand items
o Marketing for used items…not offering rewards to those who donate such as consignment
shops.
o Recession improves.
Operation:
 Business will open effective September 1, 2012
 Hours of Operation is as follows:
1. Monday – 9-6pm
2. Tuesday– 9-6pm
3. Wednesday– 9-6pm
4. Thursday– 9-6pm
5. Friday– 9-6pm
6. Saturday – 9-7pm
7. Sunday - Closed
 Seasonal hours may vary depending on need.
Pricing:
The pricing, fee, or leasing structures for my products or services:

Flat-rate pricing depending on item/product

Newer items sold at a higher price, but still within means to appeal to the customer.

Economy pricing: No frills low price: offer the lowest possible price for the item/product regardless
of what the competition.
Personnel:
Angelique’s Closet will hire one store supervisor within one to two years to oversee store operational
functions. The Store Supervisor will be paid $12.00 per hour; no fringe benefits or overtime are anticipated.
We will also employ within one to two years:
 1 full-time rotating lead cashier will be paid $7.50 per hour, overtime is anticipated
 2 part-time cashiers will be paid $7.25 per hour; no fringe benefits, overtime is anticipated
 1 full-time stocker/receiver/EVS will be paid $7.25 per hour; no fringe benefits; overtime is
anticipated during inventory only
 1 full-time driver/stocker/receiver/EVS will be paid $10.00 per hour; no fringe benefits; overtime is
anticipated.
4
Job Descriptions:
Store Supervisor: Store Supervisors are responsible in assisting other store crew with their task and assuring
that they are performing their job well. They also supervise the flow of service in the store and act as the acting officer
if the presence of the Manger is not available.
Lead Cashier: Knowledge of monetary transactions. Knowledge of business English and arithmetic. Knowledge of
modern office practices, procedures and equipment. Ability to maintain responsibility for overall cashiering work.
Ability to work from a cash drawer, cash checks, issue receipts, and make change as required. Ability to make
arithmetic computations and tabulations accurately. Ability to establish and maintain an effective working relationship
with students, the public and other employees. Ability to train the other cashiers. Able to perform all cashier duties
Cashier: Answer customers' questions, and provide information on procedures or policies. Bag, box, wrap, or gift-wrap
merchandise, and prepare packages for shipment. Compute and record totals of transactions. Count money in cash
drawers at the beginning of shifts to ensure that amounts are correct and that there is adequate change. Establish or
identify prices of goods, services or admission, and tabulate bills using calculators, cash registers, or optical price
scanners. Greet customers entering establishments. Issue receipts, refunds, credits, or change due to customers. Issue
trading stamps, and redeem food stamps and coupons. Maintain clean and orderly checkout areas. Monitor checkout
stations to ensure that they have adequate cash available and that they are staffed appropriately. Offer customers carryout service at the completion of transactions. Process merchandise returns and exchanges. Receive payment by cash,
check, credit cards, vouchers, or automatic debits. Request information or assistance using paging systems. Resolve
customer complaints. Sort, count, and wrap currency and coins. Weigh items sold by weight in order to determine
prices. Accept reservations or requests for take-out orders. Calculate total payments received during a time period, and
reconcile this with total sales. Cash checks for customers. Compile and maintain non-monetary reports and records.
Keep periodic balance sheets of amounts and numbers of transactions. Post charges against guests' or patients'
accounts. Sell tickets and other items to customers. Stock shelves, and mark prices on shelves and items. Pay company
bills by cash, vouchers, or checks.
Stocker/Receiver: Strong organization, multi-tasking, versatility, communication, and attention to detail skills will be
required. In smaller operations with minimal supervision, previous warehouse, logistics, stock, receiving, inventory, or
retail experience a plus. Pull items from storage, physically move them, stock shelves, fill displays, and use tracking
and communication tools to advise appropriate partners about product placement and new inventory levels. Organize
the stock room or warehouse, and ensure that accurate labeling, logical placement, neat arrangement, and cleanliness
are maintained. Periodically you may be preparing packages for external shipment. Design and set up advertising signs
and displays of merchandise on shelves, counters, or tables to attract customers and promote sales.
Receive, open, unpack and issue sales floor merchandise. Stock shelves, racks, cases, bins, and tables with new or
transferred merchandise. Take inventory or examine merchandise to identify items to be reordered or replenished.
Answer customers' questions about merchandise and advise customers on merchandise selection. Clean display cases,
shelves, and aisles. Itemize and total customer merchandise selection at checkout counter, using cash register, and
accept cash or charge card for purchases. Pack customer purchases in bags or cartons. Requisition merchandise from
supplier based on available space, merchandise on hand, customer demand, or advertised specials.
Stamp, attach, or change price tags on merchandise, referring to price list. Transport packages to customers' vehicles.
Driver/Stocker/Receiver: Duties include that of the Stocker/receiver and includes: Pick-up goods from
locations, which may include houses, apartments and deliver goods to the retail outlet. Able to spend long
hours on the road. Able to load and unload merchandise to and from vehicle. Have good communication
skills to deal with customers. Able to keep detailed records of mileage, fuel consumption and other purchases
made while on duty. On arrival at a delivery site, sometimes the driver must take a signature, fill out forms or
hand out forms/documentation.
5
CEO/President/Owner
Store Supervisor
Lead Cashier
Cashier(s)
Stocker/Receiver/EVS
Driver/Stocker/Receiver
Management:
Mrs. Frazier was born in Baltimore, Maryland, but has relocated to York County, Pennsylvania. After
pursuing a career in Business Administration, Mrs. Frazier worked at one of the most prestigious hospitals in
the World, The Johns Hopkins Hospital. Mrs. Frazier has worked at The Johns Hopkins Hospital for eight
years. There she learned some of the following skills that has prepared her for Business Ownership. Mrs.
Frazier is also attending the Johns Hopkins University Carey Business School for her bachelor’s degree in
Business Management. She also attends Harrisburg Community College part-time pursuing a certificate in
Entrepreneurial Leadership.
Mrs. Frazier has also independently published two children’s books and one young adult book. Her books are
geared towards helping the youth. She has single handedly started a website labeled:
www.imadored.webs.com -which helps youth and young adults with everyday living skills, finding college
funding, finding positive programs in their community, positive blogs, job coach and lots more. She has
teamed up with college advisor to ensure young adult and youth are guided in the right direction.
Mrs. Frazier is the instrumental founder of the Fighting Against Teenage Drinking, an organization that
promotes sobriety among youth and young adults. She is also a recognized journalist/writer for The Church
Of God In Christ, Writer’s Circle. She is a member and a licensed Missionary of Mercy Seat, Church of God
In Christ in Baltimore, Maryland and served as the Youth President of the Church. Mrs. Frazier’s
memberships include that of the Rho Omega Chi Christian Sorority, Inc., Johns Hopkins University Women
in Business Group.
Additionally, Mrs. Jones-Frazier is recognized by having achieved:
Mayor’s Citation, Baltimore City Mayor’s Citation for Civic Welfare
Certificate, Business Operations, Changing Directions, Inc. 1994
Mentor, Owner, Advisor, Adored One E-commerce
Certified, Microsoft Office Specialist, Excel
Certified, Microsoft Office Specialist, Word
6
II.
Financial Summary
a) Projection of Inventory
i) Inventory Level?
(1) Inventory will play a large part in financial outcome. Therefore, the company projects there
must be a consistency in our initial inventory investment since most of the inventory will be of
donated items. We must connect and create relationships with companies (ie. Walmart,
Target, Kmart, etc.) who wish to donate or sell items as a low discounted price.
(2) Create, if necessary projections to include purchases of items, new and used if we see that the
cash flow does not meet our projections within the first six months.
b) Financial Summary
i)
ii)
iii)
iv)
Total amount of funds sought for venture: $ 15,000
Total amount of estimated startup costs: $15,000
Total amount of projected average monthly expenses: $
Total amount of projected average monthly revenue: $
III. Supporting Documents
1. Tax returns of principals (partners in the business) for last three years, personal financial statements (all
banks have these forms)
2. Copy of proposed lease or purchase agreement for building space (if available)
3. Copy of licenses and other legal documents
4. Resume
5. Letter(s) of intent
6. Business Insurance
7. Timeline
8. Capital Equipment and Supply
9. Finance Statements ( Attached):

12 Month Cash Flow

Breakeven analysis

Balance Sheet

Personal Financial Statement

Detail by month, first year

Detail by quarters, second and third year

Startup Expenses
7
IV.
Appendix A: Competitive Analysis
Take a look at your most prominent competitors and rate them on the following characteristics. Now you
have done that, decide how you will make your business appear different (better) to the public, by rating how
you want to be.
Factors
You
Competitor 1
Used clothing, toddler/baby
furniture, accessories, shoes
(all ages), books, toys
Used clothing,
accessories,
furniture,
accessories, shoes,
books, toys
Used clothing,
appliances,
furniture,
accessories, shoes,
books, toys,
bedding
Flat rate for specific items
Pricing varies by
style and size
Pricing varies by
style, condition and
size
Good to Excellent (New)
Good to Excellent
Good to Excellent
(New)
Excellent training/Offer
customer relationship
incentives
Excellent training/
good relationship
Good customer
service
Broad range- Donations are
pickup and customers are
even asked if they would like
to leave donations on porch,
etc.
Donations are not
pick up, but asked
to drop off at
location.
Donations are not
pick up, but asked
to drop off at
location. Other
methods are used,
but not sure to what
extent.
Has been in
business for over
20 Years
Has been in
business for over 20
Years. Does not
have good
operations hours.
1. Products
2. Price
3. Quality
4. Customer Service
5. Product Service
6. Reliability
Competitor 2