Cheeky 1 Page Business Plan
Overview
Cheeky has a clear business objective to promote proper fitting bras and make every woman feel beautiful. This objective has been developed over 29 months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
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 revenue. Rapid revenue growth is considered the most critical and measurable business goal. At this stage of our development, we consider this to be more important than profitability growth, although both are important long term objectives.
The Customer
Cheeky 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 Poor fitting bras causing discomfort, personal image issues and health risks.. This is a critical issue for our selected target market of females from puberty forward.
The Value Proposition
Cheeky is uniquely positioned to deliver personal value to women. "By wearing a proper bra, a woman will look younger, thinner, feel better and have more self esteem. Wearing a proper fitting bra will also reduce certain health risks." In order to be deliver on this value proposition, Cheeky's focus is on making every woman feel beautiful. We do custom fittings in an environment that will lift women up. We are a moderately priced store that is affordable by the masses. 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 Bra fit market. We consider our key competitors to be: Intimacy, Victoria's Secret, Soma, Lane Bryant and Arie. Intimacy is the only chain that focuses on proper fit. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with our competitors by offering high end services at mass market pricing.
Key Strategies
Over the next 6 months our focus will be to merge Cheeky with Baci. This will give us three current brick and mortar store fronts. We will reconfigure the two current Baci locations to make them profitable by adding higher end 'flag ship' products and retraining staff to fit bras. Then we will add in three new locations: Jacksonville, Florida; Charleston, South Carolina; Pooler, Georgia. This task will be undertaken in the context of our broader strategy to continue growth to 12 + stores on the east coast. 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: Merge and launch 3 additional stores. Launch an additional 6 stores in the second year. Launch a mobile app and pop-up stores in the third year.
About this document
Proper fitting bras Business Plan
This document was created by Tiffany of Cheeky using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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