North Boutique 1 Page Business Plan
Overview
North Boutique has a clear business objective to distribute fashionable upscale dresses with strong customer support.
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 grow profitability. It is critical that we balance revenue growth with the growth in our cost base. Whilst the desire for profitable growth may constrain our growth rate, it is more important that revenue growth in isolation.
The Customer
North Boutique 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 the need for simplicity in dress design with premium quality and urban/minimalist style. This is a critical issue for our selected target market of Women (ages 16+) in Lexington, Kentucky.
The Value Proposition
North Boutique is uniquely positioned to deliver value to women (ages 16+) who present a population of women who enjoy feminine fashion but do not have dress option with a northern influence. North Boutique will Provide a unique shopping experience with tailored service in selection of quality dresses. In order to be deliver on this value proposition, our urban decor combined with sleek, timeless dress options will target customers who spend more money on the style lasts in their closet long after the trends have passed. 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 Dresses market. We consider our key competitors to be: AJs, Embrys, Monkees, Worlds Apart, Bella Rose, and The Peppermint Palm. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with The stores above by offering a shopping experience with an urban feel. The dress styles at North will be sleek, minimalist, and fashion forward. Other types of fashion will not offered, except shoes & jewelry. The store will be simple & uncluttered. Staff will be trained to offer premium tailored shopping experience that does not impose upon or ignore the customer .
Key Strategies
Over the next 6 months our focus will be to secure wholesalers,find a location, price marketing, determine the number of employees, consider renovations, determine decor, and plan seasonal purchases. This task will be undertaken in the context of our broader strategy to order product, sign a lease, renovate and decorate, market store, and hire employees. 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: To determine style selections with wholesalers at effective prices, to secure a location, and to secure funding
About this document
Dresses Business Plan
This document was created by Kirstin Wiley of North Boutique using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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