Style by MJ Smith 1 Page Business Plan
Overview
Style by MJ Smith has a clear business objective to distribute Stylish Thrift Store Clothing products and services. These products and services have been developed over 0 months 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
Style by MJ Smith 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 style customers in inexpensive clothing. This is a critical issue for our selected target market of 21-30 year olds with mid-low income.
The Value Proposition
Style by MJ Smith is uniquely positioned to deliver value to 21-30 year olds with mid-low income. "Style by MJ Smith will Provide a service that styles customers in chic, affordable, donated clothing." In order to be deliver on this value proposition, we My experience styling brides at David's makes me an authority on styling pedestrians. 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 Stylish Thrift Store Clothing market. We consider our key competitors to be: Goodwill outlet, "That one boutique in Westport". Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Goodwill outlet, "That one boutique in Westport" by We offer tips and a stylist to help to improve the customer's style sense with our clothes. .
Key Strategies
Over the next 6 months our focus will be to In order to acquire more customers, Style by MJ Smith will be positioned in a location-preferably Westport- where potential customers roam frequently. Fliers will be distributed in other stores. There will be a social media/stylist employee who will see to it that the store is promoted on popular websites such as Twitter. Pintrest, and Facebook. Word of mouth, however, may become the primary way of growing the business and acquiring customers. . This task will be undertaken in the context of our broader strategy to Expand into another location. Perhaps add a location to the Plaza. . 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: Open Store Obtain 500 Customers Expand into the Plaza
About this document
Stylish Thrift Store Clothing Business Plan
This document was created by Hina of Style by MJ Smith using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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