Vintage Store Business Plan – Lean


Vintage Store Business Plan - Lean



Proposition


541 Vintage excels in curating a carefully curated selection of vintage apparel that is available in-store as well as online. We offer clothing that isn’t commonly found in the fast-fashion industry. This allows people to express their individual style. This allows our customers to save money and reduce waste while still looking great.


The Problem


Eugene offers a few shopping options in the resale market, but many consumers complain about the overwhelming number of low-quality or overpriced options available. It can be difficult to navigate through the stores.


The Solution


Vintage clothing, accessories, belts and bags are all included in this carefully curated collection. Our aim is to provide unique and unusual items at affordable prices. We also offer superior customer service, which brings us consistent customers.


Target Market


The 541 Vintage’s primary market is young adults who are looking for unique and well-made clothing at a reasonable price. Common characteristics include:


  1. Interest in fashion, collection, and design.

  2. You want to stand out from all the others.

  3. Interested in vintage items for a bargain?

  4. We want to encourage resale, sustainable fashion.


A secondary target market are shoppers who enjoy hunting for treasures or bargains.


Competitors & Differentiation


Alternatives


  • A number of chain thrift stores (St Vincent de Paul’s Closets, Buffalo Exchange, Plato’s Closet),

  • A few locally owned vintage clothing stores (Eugene Jeans, N.E.S.T. )

  • High end vintage furniture/clothing thrift stores (Oak Street Vintage).

  • Vintage clothing thrift shops online (Mercari, Etsy and eBay)


Why Us?


With each passing year, clothing waste increases. Gleichzeitig, many people end up buying clothes that are:


  1. Seen from other people

  2. Made of lower quality and built cheaply
  3. Contributes often to poor working conditions of marginalized communities across the world.


When you buy recycled items, it means that fast fashion pieces can stay out of the trash while you are wearing authentic vintage clothes. The 541 store has a large selection of carefully selected items, both online and in-store. Vintage has history, vintage has character, and vintage is synonymous with quality.


Financing Needs


For 700 square feet, the rent for the Willamette/East 7th target area is $14.61 SF/YR. Rent is calculated at $9900 per year and $825 monthly, including utilities and janitorial. Remodeling retail space will be funded with $5,000. The initial inventory price will be $15,000. The marketing expenses for the startup of the business amount to approximately $2,000. Initial operational costs for 1 Year, including bills, employee salaries, etc. amounts to $25,000.


It takes $56,900 to start.


Sales Channels


  1. Retail location


  2. Website

  3. Instagram

  4. Google Ads

  5. Facebook


    6. Marketing Activities


    1. Google Ads

    2. Insta

    3. Facebook ads

    4. Affiliates/Influencers



    6. Blogs/Newspaper

    7. Flyers/Signage


    Financial Plans


    These expenses include employee salaries, taxes, advertising, utilities, and insurance. Maintaining a consistent flowing inventory will be a significant cost to keep the store running effectively. Advertising expenses, which include website maintenance and paid ads, will be a consistent expense.


    Revenue:


    • 2023: $65,000

    • 2023: $74,000

    • 2024: $87,000


    Expenses/Costs:


    • 2023: $56,900

    • 2023: $60,000

    • 2024: $70,000


    Profit:


    • 2023: $8,100

    • 2023: $14,000

    • 2024: $17,000


    Milestones


    • Register for the required permits and licenses by August 1, 2023

    • Renovating — August 21st, 2023

    • Install racks or shelves for merchandise — August 25, 2020

    • Add initial stock to your store inventory August 27, 2023

    • Take professional pictures of the space — August 31, 20,23

    • Create website, social media, or google/yelp account — September 1, 2023

    • Interviews and initial hire of employees. September 5, 2023

    • Now Open — September 15, 2023

    • Google/Yelp forecast — November 1, 2023

    • Create a relationship tree with vintage clothing suppliers — December 15, 2023

    • Add a pop-up stand to the farmer’s markets — March 15, 2023


    Team and Key Roles


    Owner/Manager


    Sales Associate/Cashier


    Assists owner with vintage clothing purchases and identifying items for sale. Maintaining a clean and orderly sales floor by operating a POS system. You are responsible for creating and maintaining displays/tags for merchandise, stocking new inventory, and tracking it.


    Partnerships & Resources


    These partnerships will allow 541 Vintage to be more visible in the market they are targeting and increase its share of the local market for vintage items. This will enable 541 Vintage to continue expanding its inventory, which will ensure that it has a unique and top-quality collection of vintage items.

    • Donation-based stores: Using Goodwill and Saint Vinnies as a resource to find quality vintage clothing to then resell.
    • Estate sales: Establish relationships with local estate selling companies
    • Student Organizations Find organizations with a strong desire to fashion and/or sustainability, and send flyers to them.
    • University of Oregon Students Students with valid ID will receive a discount.
    • Creation Of 541 Vintage Fashion Show Allows local fashion designers/artists show their works and have access to 541 Vintage stock.

Retail Hardware Store Business Plan


Retail Hardware Store Business Plan


Opportunity

Problem

Today, 40% of the area’s homes are owned and occupied by women. Women also own 60% of the area’s rental properties. It is more often than not a woman who visits the hardware store to get repair parts or advice. The mega-store chains dominate today’s hardware store. These stores are uninviting, cold, and often require more driving.

Solution

Clara’s Hardware will provide quality hardware products in an easy-to-use shopping environment. Our customers will be able get help quickly and will leave the shop ready to finish the job correctly the first time. Clara&#8217, Hardware will continue to focus on meeting seasonal demands of its customers as well as providing top-quality products at fair prices. Clara&#8217s Hardware will travel an additional 15 minutes to reach a mega-hardware retailer, which can be too far and expensive to entertain.

Market

The South Gate area of Gilmore has seen dramatic changes in the demographics for home ownership. Today, women own more than 40% the area’s houses. In addition, 60% are women who own rentals in the region. Most often, it’s a woman who now heads to the hardware shop for parts and advice. Today’s hardware store, which more and more are dominated by the mega-store chains, are cold, uninviting and usually involve more driving time. Clara’s Hardware is uniquely positioned to take advantage of this new fact of life. Clara’s Hardware, conveniently located to service the South Gate, offers parts, material, advice, and assistance with any home-related repair. Customers are encouraged to identify the products they desire as soon as they walk into the store.

Concurrence

Clara’s hardware will be competing against:

True Value Hardware chain stores: The new True Value hardware stores are designed specifically for women. In addition to better lighting and organization, there’s “an expanded assortment of decorative door knobs and drawer pulls.”

Mom and pop owned stores like McGukin Hardware. This store stocks hardware, as well as other goods so that women need only go to one place to purchase everything they want.

While there are many other shops in the vicinity, none of them have the same views as clara.

Why Us?

Clara believes a local hardware shop can offer a reasonable selection of the most essential product areas, be affordable in pricing, provide an environment that encourages repeat business, and give the customer a pleasant shopping experience.

Expectations

Forecast

The store will be efficiently laid out to increase sales and give customers the best possible attention. Clara’s Hardware is expected to grow at a steady pace. The store will be profitable in six months.

Financial Highlights per Year

Financing Required

Clara Johnson (founder) will donate $80,000.


Athletic Shoe Store Franchise Business Plan


Athletic Shoe Store Franchise Business Plan


The City of Coral Springs, Florida will be home to the Athletic Shoes Headquarters at Pine Ridge Square’s Athlete’s Feet store.

There are 29,000 children in school, and over 11,000 of them participate in the 16 structured athletic programs. There are 27 schools, with varying degrees of athletic programs, within three miles of the proposed location.

Within three miles from the center are 57,000 people between the agess of 20-54 years old. This is Florida’s premier age for running. There were 250 runners from Parkland, Coconut Creek and Coral Springs participating in January’s Walt Disney Marathon & Half Marathon. This is just one example the number of runners who live in the community. Coral Springs has no shops that stock a wide range of running shoes for serious runners.

The Athlete’s Feet will be focusing on these market segments. These primary customers will attract the remainder of those who are in need of athletic footwear to us.

The store will be located at the intersection of University Drive and Wiles Road. Fresh Market and Blockbuster Video were the co-tenants. They also own Blockbuster Video and Play It Again Sports. ft. daycare center, a children’s and young men’s specialty clothing store, a learning center, four restaurants, and several other youth-oriented businesses. At the same intersection are: Kmart, Steinmart, Winn Dixie, McDonald’s, Wendy’s, three banks, six additional restaurants, and three gas stations. This intersection has approximately 400,000 square feet of retail space. University Drive is being extended northward through Boca Raton. Wiles Road will continue east, through Coconut Creek. It is home to approximately 55,000 cars daily.

Coral Springs has little competition. There are several “Mall” stores that sell fashion and athletic footwear. They offer limited service and virtually no technical knowledge or expertise for running shoes. They are also unable to capture the “sports-specific” footwear like football, baseball or other cleats or accessories.

The Athlete’#8217’s Foot will become a franchisee of The Athlete’#8217’s Foot, Inc., which is recognized as the leader in franchising athletic footwear. The Athlete&#8217’s Foot operates over 700 franchised and owned stores in 33 different countries. The Athlete’s foot franchise program offers a wide range of support services, including:

  • Access to special vendor discounts including; Nike, Reebok, Fila, New Balance, Adidas, Converse, Brooks, etc.
  • Expert advice and assistance with real estate selection and negotiations
  • Proven store design and fixturing.
  • Planned merchandising system and assortment direction. Coordinated inventory control.
  • Seminars and workshops provide comprehensive training in all aspects the business of athletic shoes.
  • Continued support through video, monthly publication, regional meetings, and network with co-franchise
  • Assistance with the local advertising campaign and participation in the National Advertising Program
  • These are the most advanced programs for Research and Development and Fit Technicians.

1.1 Objectives

The primary objectives of the business plan for The Athlete’s Foot are outlined below.

  1. To make The Athlete’s Feet the leading athletic footwear retailer by providing knowledgeable and professional customer services. Customer service will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of our non-running and 60% of our running shoe sales are accompanied by an additional purchase).
  2. To be an active supporter and participant of the Coral Springs Athletic Community. To develop a youth running club and adult running group to promote healthy living and exercise. We aim to have 150 members of the running club by the end the 18th month.
  3. To achieve a 33% increase in sales year two and maintain a minimum annual increase of 15% thereafter.

1.2 Mission

The Athlete&#8217′

s Foot is a boutique that sells true athletic footwear. The store will be specializing in children’s sports shoes. It also stocks a variety of men’s, women’s, and kids’ running shoes. Our staff will be able to offer advice on the most appropriate style and fit of athletic shoes for each customer. This store will be the city’s only full-service sporting footwear store, offering knowledgeable sales assistance and high quality products.

Our goal is be the home base for all Coral Springs athletes. Coral Springs boasts one of the most advanced and sophisticated community athletic programs in America. The proposed store is within three-miles of approximately 29,000 school-aged kids.

We believe that in order to reach our headquarters position we must be visible to the athletic community through sponsorships, seminars and team and league promotions, as well as the development of a running program for the community.

Retail Discount Store Business Plan


Retail Discount Store Business Plan


Opportunity

Solution

We are the solution. The dollar shop.

Market

As more people discover they can buy quality goods at a bargain price, we expect sales will increase steadily. We want to tap into retail markets with pricing that will encourage quantity shopping, and our pricing plans will attract consumers on fixed incomes.

Our target market is those with lower incomes in Bend and Redmond. This includes people of all classes, students and the elderly. They are often price conscious and seeking to find value for their money.

Concurrence

Consumers are looking for quality customer care, fair pricing, and a convenient place.

The competition is fierce, with location and customer service being key components. The selection of merchandise a store provides is also very important.

Why Us

The Dollar Store offers an assortment of exciting merchandise options at low prices. Dollar Store is dedicated to providing prompt and courteous customer service. Dollar Store employees will also receive professional treatment. They will enjoy a stimulating work environment and fair pay. Dollar Store wants customers to feel that they have received Fifth Avenue treatment at a discount price.

Expectations

Forecast

The Dollar Store will be able to successfully open and maintain operations through year one. The large capital investments of the owners will provide the public with a unique and innovative store that will cater to the needs of those on fixed incomes such as low income families, the elderly, and the large student population in the Bend area. The Dollar Store will have a loyal customer base, which will make it self-sufficient.

Financial Highlights by Year

Financing Required

We will receive $120,000, broken down as follows.

Ted Brinkman $60,000

Jim Spencer $40,000

Additional $20,000


Used Book Store Business Plan


Used Book Store Business Plan


Introduction

Flyleaf Books a small, start-up bookstore in Cleveland, Ohio. It is the goal of the company management to acquire local market share in the used bookstore industry through low price, a dominant selection of products, a competitive variety of services including a buyback/trade program and hard to find book search, plus a relaxing, friendly environment that encourages browsing and reading.

Company

Flyleaf will be a limited liability corporation registered in the state of Ohio. The company will be owned jointly by James Vinck, the former head librarian of Philadelphia City Library and Aracela Vinck.

Vinck established the firm to provide a sustainable income, meet new people, and leave a business that is profitable to his family. Flyleaf Books plans to open its shop in Brecksville’s busiest area, an outlying suburb near Cleveland. This area is known for its high-quality establishments and upscale residents. Our company is located in an old furniture store of 8,000 feet. It allows us to stock large amounts.

Products/Services

Flyleaf Books can offer a wide range book, magazine and music selections. There are many categories, such as fiction, nonfiction, business science, business, science for children, hobby collecting, and for adults. The CD’s will be the main focus of our music selection, as they are the most widely used and take up least floor space. We will also offer a competitive buy-and-trade service to help lower our inventory acquisition costs. This will make our store more appealing to customers. We offer a search and ordering service for customers who want to find difficult to obtain items. Flyleaf Books is going to have a relaxed “reading room” atmosphere. We will encourage the use of couches and chairs.

Market

Our market has been experiencing a decline of growth in the last two-years. This can be attributed to the overall economy being weak. Last year, sales in the book industry rose by only 3.6% while overall U.S. retail revenues grew by 4.3%. However, management believes this may be a boon for the used-bookstore industry. Used bookstores will be more appealing to customers who still want to buy books as customers are less likely to spend on them. Therefore, management believes this may be a good time to get into the industry and gain market share.

The overall consolidation in the bookstore market is a significant step. The market was dominated in the past by small and local bookstores as well as regional chains. The emergence and dominance of the #8220superstore created by Barnes & Noble has seen the largest players in this market gain substantial market share, driving many independent booksellers away from the market.

There is still a place for independent booksellers to create a market position in the used books section. This segment is less attractive to large companies because the &#8220_superstore concept is harder to replicate in a low-profit market. This favors the local independent bookstore in the used books market segment, provided they can obtain a sufficient facility to house an appealing inventory and compete with the larger national chains.

Financial Considerations

Start-up expenses total $178,000. These are the one-time fees associated with opening a store. These costs are paid for by both SBA loans as well private investors. Please note that we expect to be operating at a loss for the first couple of months before advertising begins to take effect and draw in customers. Flyleaf Books is expected to receive periodic cash infusions to cover operating expenses for the first two year as it works toward sustainability. Funding has been arranged through lending institutions and private investors already. We do not anticipate any cashflow problems in the next 3 years.

1.1 Objectives

These are the Flyleaf Books’ goals for the next three-years:

  • Profitability by July Year 2
  • In Year 3, make around $200,000 in sales
  • Pay owners a reasonable salary while running at a profit.

1.2 Keys for Success

In order to survive and expand, Flyleaf Books must keep the following issues in mind:

  • We must attain a high level of visibility through the media, billboards, and other advertising.

  • We need to have strict procedures for cost control, and incentives to maintain tight control, in order for us become THE low-cost market leader in used textbooks.
  • Customers are constantly attracted to our products and services.

    • 1.3 Mission

    Flyleaf Book’s mission in Cleveland, OH is to provide quality literature at affordable prices. The company also wants to offer a relaxed environment that encourages browsing, relaxation and a pleasant place to spend time. Flyleaf&#8217’s unique offering to customers will include a large selection books, magazines, and CD&#8217’s that can be used. Additionally, we offer a buying/buyback option which reduces book acquisition costs, and allows our customers the opportunity to trade in unwanted books/CD&#8217’s for cash.

    Independent Video Store Business Plan


    Independent Video Store Business Plan


    Independent Choice Flicks, a local video rental shop, is located in Eugene. It rents movies that aren’t often available at larger chains like independent releases and film festivals. Eugene has a market for these kinds of films as demonstrated by its general demographics (liberal educated, college town) or the popularity of Bijou Arts Cinema which is a first-run movie theatre that focuses on the same type of movies.

    The dominant Eugene stores have ignored this market. Although there are some films that do fit these descriptions they are not common. It is very difficult for large corporations market to this particular segment. This is especially with their current business model that places stores in all cities with similar themes and libraries, with a heavy focus on commercial releases.

    Through the use of ICF’s competitive advantage attention to customers, ICF will grow steadily to profitability. It does this by providing exceptional customer service and knowledgeable assistance. ICF also supplies movies that are in high demand in Eugene. However, other players have not yet addressed the demand, as they assume it is for the fringe. The Eugene fringe make up a large proportion of the total population. ICF will reach profitability within its first year. The company will expect to have over $230,000 in revenues by the end of year three.

    1.1 Objectives

    The objectives for the first three years of operation include:

    • We want to create a store that rents movies and exceeds customers’ expectations.

    • To create an alternative franchise movie rental shop.

    • To increase the number of clients by 20% per year through superior selection and customer service.

    1.2 Mission

    The Independent Choice Flick’s mission is to provide the customer with independent, non commercial movies. We exist to bring in and keep customers. Everything else will follow this principle. Our services will meet or exceed customer expectations.


    Gourmet Food Store Business Plan


    Gourmet Food Store Business Plan


    Sarrica’s Market is a new business located in downtown Moab, Utah. The store is an upscale international grocery and delicatessen with a distinct menu that includes authentic, hard to find ingredients from around the country and the world. It will house a sixteen-person dining area, a kitchen with counter and check out, a grocery/gift area, as well as a public restroom.

    Sarrica&#8217’s Market has one mission: to provide Moab with a mix of quality, authentic, difficult to find grocery items, prepared foods, and friendly service. Our store motto is, “eat and enjoy.”

    The deli will provide sandwiches, salads or specialty drinks. Gift items will complement the international theme of the store and include a limited selection of kitchen wares, cookbooks, picnic items, and original hand-sewn items and jewelry. Gift baskets are also available at the store and online. All the recipes used in the deli will highlight the grocery items sold in the market.

    The country’s specialty and gourmet food market is growing rapidly. Consumers are looking for quality food coupled with a quality shopping experience. Large cities often have sections dedicated to ethnic food and culture. More people are moving to Moab as rural America shifts away from agriculture, natural resources, and to tourism as its main economic source. These new populations are starved for the fine ingredients they were able to purchase in big cities and are looking for a rural solution to this problem. Many Moab residents and visitors expressed their desire for a local gourmet foods store.

    Sarrica’s Market has formed alliances with local farms and restaurants as well as international distributors to offer its customers a mix of ‘#8220/shopping local’ and a wide range of gourmet products previously unavailable in this highly-visited rural area. Sarrica&#8217’s Market offers residents a more convenient and appealing alternative to ordering online or carrying fancy groceries back from infrequent trips (a few hours away), especially in the winter.

    Sarrica’s projections for net profits rising over the first three year is a good indicator. We expect that the wide seasonal differences in sales in the first two years will be lessened as we grow our local clientele base. This partly accounts for the increasing profitability. These forecasts are based upon the performance of comparable cross-market upscale shops in Moab and general trends within the gourmet food store industry.

    To achieve our objectives, the owners of Sarrica’s Market are contributing $24,000 and seeking a $100,000 small business loan. These loans will pay for the start-up costs of the business. They will also be repaid using the cash flow from the business in five years.

    1.1 Mission

    Sarrica’s Market was established to provide Moab, Utah residents and visitors with an upscale grocery shop, gift shop, or delicatessen that specializes in authentic, high-quality, rare, and hard-to-find grocery items.

    1.2 Goals, Objectives

    The following are the goals of Sarrica&#8217’s Market:

    1. Get the necessary financing ($24,000 in personal/investor loans and $100,000 in small-business administration loans).
    2. A service-oriented company should exceed customers’ expectations. This will increase repeat clients by at minimum 20% annually through superior performance, word-of mouth referrals and customer satisfaction.
    3. Become an established community destination with a customer satisfaction rate of 90% by the end of the first year.
    4. By the end, you will be cash flow independent.
    5. Sales of $461900 were achieved in the first year. They increased to $484735 in the second and $508,000 in their third years.
    6. Allow the founders to earn an income by the end the second year.
    7. Repay the original loan debt by the end if the fifth year.

    1.3 Keys to Success

    These are the keys to Sarrica’s Market success:

    • Reputation: Every customer who visits our store will return to us and recommend us to friends and family.

    Our business will benefit from word of mouth marketing.

  • Superior Customer Service: Friendly, knowledgeable service is of the utmost importance.
  • Location: Provide easy access for customers. This includes walk-by and drive by traffic.
  • Product/Environment
  • Convenience: Our customers know they can find the items they want at our market at a fair price. Customers will be able to order online or reduce the need to travel for their desired items.