No Ordinary Bride 1 Page Business Plan
Overview
No Ordinary Bride has a clear business objective to develop, produce, promote and distribute Design Couture Bridal Gowns products and services. These products and services have been developed over 3 years 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 acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
No Ordinary Bride 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 Off the rack gowns fit poorly and is not always exactly what they are looking for.. This is a critical issue for our selected target market of Sophisticated brides who prefer quality over price.
The Value Proposition
No Ordinary Bride is uniquely positioned to deliver value to Sophisticated brides who prefer quality over price. "No Ordinary Bride will Design and construct couture bridal gowns that are made specifically to your measurements. You have the choice of embellishments or use what is recommended from a sketch of a gown done specifically for you. In order to deliver on this value proposition, Most bridal stores offer what the manufacturer sends to them. I have a line that is specifically designed by myself that can be interchanged with different designs in that line. Also if those designs are not exactly what you are looking for then I will sit with you and design a dress from a sketch.. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Design Couture Bridal market. We consider our key competitors to be: David's Bridal Sarah Houston Bridals, Inez De Santo Canadian Bridal Designer, Pnina Tornai. Our understanding of these competitors has been used to refine our strategy and value proposition. I believe that we can compete effectively with those companies based on the fact that most do operate out of the downtown Toronto area. Most brides looking for the same quality would have to Travel. Since my dream is to expand my studio in the City of Guelph On. I can offer that same bit of decadence in an area where we don't actually have a bridal studio but is located in very close proximity to 4 major growing cities. Kitchener, Waterloo,Cambridge and Milton. .
Key Strategies
Over the next 6 months:
This task will be undertaken in the context of our broader strategy to expand outside of the home to increase visibility and traffic. I do offer one on one consultants and appointment so hiring a bridal specialist will ensure that I am able to accommodate more brides. 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: Obtain 48-50 new clients per year. Have the business be known for its involvement with charitable organization. Expand the business to one other store in one of the growing cities mentioned previously
About this document
Design Couture Bridal Gowns Business Plan
This document was created by Allegra Deen of No Ordinary Bride using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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