the dress library 1 Page Business Plan
Overview
The dress library has a clear business objective to distribute special occasion wear hire products and services. These products and services have been developed with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product. Whilst our existing products have been useful for testing the customer problem, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
The dress library has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as Our business is created by they demand for an increasingly more frugal customer, who may not have or simply does not want to waste money on expensive designer outfits. Also as the environmental impact of a throw away society, there is an increasing awareness of ones carbon footprint and the need to recycle. All our outfits would be purchased as preloaded garments of which there is huge marketplace.. This is a critical issue for our selected target market of Ladies 30+.
The Value Proposition
The dress library is uniquely positioned to deliver value to Ladies 30+. "At the dress library will We can offer you a wide range of designer outfits at a fraction of the cost to hire!." In order to deliver on this value proposition, There is nowhere within a 20 mile radius delivers this service .This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
There is no other business like ours in the area.However online trends in this area are growing.. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively as there is no other business like ours in the area.However online trends in this area are growing. There are no local competitors as dress hiring died out in the mid 1990s.
Key Strategies
Over the next 6 months our focus will be to To raise initial awareness of the brand firstly distributing flyers and posters around local businesses such as hairdressers, nail bars, doctors waiting rooms etc. Also engage local schools through PTA groups and offer to put on fashion shows within the school to raise money for them and increase local brand awareness. Using school premises and parents and teachers as models so event would be free to stage. This would target the market 30+ ladies who don't have time or money to spend on high end fashion but still desire to look amazing for weddings and other social calendar events. The opening day would see us parade our outfits upon selected local ladies outside the store. They would be wearing an assortment of designs evening dresses to mother of the bride! This would hopefully be supported by local press.. This task will be undertaken in the context of our broader strategy As we progress we will market our business through wedding fares and local higher education establishments.. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: create a loyal customer membership base of a hundred Acquire more stock Diversify into other fashion rental areas such as bridal gown hire
About this document
special occasion wear hire Business Plan
This document was created by clare of the dress library using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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