Classique Gifts Etc. is a start-up retail store offering fine gifts, collectible dolls and doll accessories. The store will be located in Lexington, Kentucky, catering to the middle- and upper-class consumers who look beyond the congested retail malls for the special shopping experience. A wide selection of high-quality products will be available. The customer will also enjoy knowledgeable and friendly service in an uncongested area.
This business plan is prepared to obtain financing in the amount of $50,000 to purchase inventory and to help cover expenses in the first year of operations. We are also asking for a credit line of $10,000 to be used as necessary in low cash flow periods. Brenda and Charles Gajdik will jointly own and manage the store. They will contribute $40,000 to equity as an investment. This money can be used to finance start-up and equipment purchases as well operating capital.
The Lexington business is similar to the one in this plan, so the sales forecasts were very conservative. Brenda has evaluated the strengths of this store and believes it could be improved.
1.1 Objectives
- To develop Classique Gifts Etc. Central Kentucky’s leading gift retail store.
- For the first year, to maintain and increase your gross profit margin of at least 40%.
- Personal customer service and marketing will help you to reach 4,000 customers within the second calendar year.
- To earn a substantial profit by Year 3.
1.2 Mission
Classique Gifts Etc. will operate a gift store that sells high-end gifts, collectible dolls and accessories. We will provide quality products from trusted suppliers, and offer friendly customer service.
1.3 Keys for Success
To succeed in this business we must:
- Get the best products for the customer and sell them at the highest quality.
- Offer friendly customer service
- Good vendor/supplier relationships will allow for quick shipment.
- Advertising and promotion of our store are essential to capitalize on the current Christmas shopping season.
- Continuously review our inventory and sales and adjust our inventory levels based on detailed records.
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