Crown Prince Wholesale 1 Page Business Plan
Overview
Crown Prince Wholesale has a clear business objective to develop, produce, promote and distribute imports and closeouts products. These products have been researched and acquired 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 at a substantial rate to build upon key customers we already have in place. 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 catalog of high profit items and a customer base with a high volume of repeat orders.
The Customer
Crown Prince Wholesale 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 to create a high profit source for customers in the discount store market. This is a critical issue for our selected target market of discount, grocery, pharmacy, and dollar stores.
The Value Proposition
Crown Prince Wholesale is uniquely positioned to deliver value to discount stores. "Crown Prince Wholesale will Provide retailers with a quality product at a low cost and high profit margin." In order to deliver on our value proposition, we carry minimal expenditures and overhead that allow us to offer products at a substantially lower markup to key customers. This customer base and trust with our key accounts 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 import and closeout industry. We consider our key competitors to be: Kole Imports, Bargain Wholesale, JC Sales, and Regent Products. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Kole Imports, Bargain Wholesale, JC Sales, and Regent Products by having an experienced sales staff with key customers already in place. We will also have substantially lower overhead costs as well as unique product offerings within the market. Our main categories to begin with will be jewelry and electronics; both categories carry minimal competition from our main competitors.
Key Strategies
Over the next 6 months our focus will be to acquire products, setup a website, and open a warehouse and showroom with offices. This task will be undertaken in the context of our broader strategy by securing startup funds, attending trade shows and building clientele. 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: successfully build and complete the warehouse, showroom and logistical aspects of the business, obtain a customer list of 100 new clients, and successfully obtain market share and exposure within the general merchandise community by attending specific trade shows.
About this document
Imports and Closeouts Business Plan
This document was created by Amir of Crown Prince Wholesale using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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