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Style Galore Style Galore Document Transcript

  • Istituto Europeo di Design           Business  Plan  by:   Ellinor  Lindqvist   Sabine-Karoline  Kodu   Course:  Business  Management   Teacher: Abel  Diaz  Fernandez   Spain, Barcelona, 01.02.2011
  • Index        Briefing…………………………………………………………………………………………………….3Concept………………………………………………………………………………………….…………3Sector,  market  and  competitors……………………………………………………………………5Commercial  Plan…………………………………………………………………………….…………6Technology………………………………………………………………………………………………7Production  Plan……………………………………………………………..…………………………7Staff…………………………………………………………………………………………………………8Economic  aspects………………..…………………………………………………………..…………9Funding…………….……………………………………………………………………………...……..10Directing………………………………………………………………………………………..………..10Start  up………………………………………………………………………………………..………….11                                     2  
  • Briefing  Open  an  online  store  and  offer  a  service,  helping  designers  to  sell  unique  goods  to  fashion  loving  people  .We  will  be  the  link  between  the  designer  and  the  consumer.      Concept  Service  and  Goods                            Our  idea  is  to  open  a  webpage  that  will  be  a  platform  for  new  designers  who  want  to  enter  the  fashion  market.  We  will  be  the  link  between  the  designer  and  the  costumers.  Style  Galore  will  help  designers  with  the  marketing  and  communication  part  of  fashion.                     The  service  that  we  are  offering  is  focused  towards  designers  that  want  their  items  sold  and  need  help  reaching  customers.  We  will  help  them  by  offering  a  platform  and  creating  contact  with  costumers.  Our  idea  is  to  open  a  website  that  gives  designers  the  opportunity  to  display  and  sell  their  designs  and  allows  them  to  enter  the  fashion  market.  We  will  be  the  link  between  the  designer  and  the  costumer.  Many  talented  designers  create  beautiful  items  that  never  reach  the  consumer.  Often  they  don’t  know  how  to  handle  the  business  part  of  fashion  and  how  to  communicate  with  their  audience.  We  are  offering  the  correct  tools  to  help  them  display  and  sell  their  work.  Finding  and  creating  a  good  relationship  with  designers  is  an  important  part  of  our  business.             The  goods  that  we  will  offer  are  different  types  of  garments,  shoes  and  accessories.  These  are  only  offered  in  a  limited  edition  and  created  by  “up  and  coming”  designers.  Our  target  is  fashionable  people  who  appreciate  design  and  want  to  stand  out.  Today  self-­‐expression  is  very  important  and  we  will  give  our  customers  the  opportunity  to  buy  unique  garments.        Production  and  selling  process  The  designer  handles  the  production  of  the  items.  They  create,  design  and  produce  their  garments.  The  selling  process  is  taken  care  off  by  us.  We  will  manage  the  website  and  do  the  marketing  for  our  designers  garments  and  items.  We  will  handle  the  communication  with  the  costumers.  We  will  also  handle  the     3  
  • distribution  part  of  the  process.                       The  process  will  work  with  the  first  step  being  that  the  designers  provide  us  with  garments  and  in  exchange  we  will  help  them  with  these  services.  First  we  will  need  to  get  in  contact  with  designers,  create  a  network  with  people.  Than  sign  a  contract  with  the  designer.    Which  includes  that  designers  will  provide  us  with  garments  in  exchange  we  will  help  them  with  services.  After  receiving  the  goods  we  will  upload  them  on  our  website  so  the  customers  can  shop.  At  last  we  will  use  a  well-­‐known  delivery  service  called  Correos  who  will  deliver  the  goods  at  customers  home.    Differentiation  Our  concept  is  in  tune  with  what  is  happening  in  the  fashion  industry  today.  Self-­‐expression  and  having  a  personal  style  is  becoming  more  important  among  people.  Our  service  will  be  useful  for  new  designers.  The  fashion  market  is  a  difficult  and  complex,  you  need  the  right  knowledge  and  resources  to  be  able  to  reach  customers.          There  are  businesses  similar  to  our  company.  Our  aim  is  to  offer  a  service  for  new  designers  that  isn’t  really  offered  today.  Our  online  store  and  the  service  we  are  giving  will  be  professional.  We  will  give  designers  and  opportunity  to  have  people  view  their  items,  get  feedback  and  be  able  to  sell  them.  Possibilities  of  development  We  can  imagine  a  lot  of  possible  developments  for  our  company  in  the  future.  The  main  goal  is  to  create  a  brand  name  and  to  become  a  well-­‐known  organization.  Our  aim  is  to  spread  the  word  about  our  website  and  to  be  recognized  on  an  international  basis.    One  important  thing  in  our  business  is  to  create  a  network  with  contacts.  It  is  important  for  us  to  have  a  group  of  talented  and  professional  designers.  It  would  also  be  good  for  us  to  have  other  contacts  in  the  fashion  industry  with  manufactures  and  creative  people.  This  way  we  could  offer  our  designers  more  help  with  the  production  of  their  items.    One  development  that  we  would  like  to  see  in  the  future  is  to  have  a  store  that  people  could  visit.  When  the  business  gets  bigger  it  would  also  be  good  to  rent  a  storage  place  for  the  garments.  Another  idea  we  have  is  to  create  a  fashion  show  with  the     4  
  • designers  that  we  are  representing.  • When  our  business  gets  bigger  we  can  rent  a  storage  place.    • For  promoting  our  designers  and  also  our  website  we  can  organize  fashion   shows.  That  would  also  be  good  opportunity  for  customer  to  see  our  goods  on   live.  • If  our  business  is  doing  very  well  we  would  be  able  to  open  our  own  store.  • For  extra,  thanks  to  our  profession,  we  can  offer  the  designers  help  with  the   production  process.    Sector,  market  and  competitors  We  are  going  to  stand  in  tertiary  sector;  we  will  be  a  private  firm.  Also  we  will  be  classified  as  micro  firm,  because  they’re  only  two  of  us  working  in  this  company.    Competitors  Our  competitors  will  be  boutique  and  specialty  stores  that  are  offering  designer  items  and  also  online  stores  that  have  the  same  concept  as  we  do.  For  example  in  Estonia  Nu  Nordic  or  PreiliPipar,  Barcelona  Thot and in Paris L ‘Eclaireur.  Market  segmentation  As  fashion  market  is  segmented  in  three  categories  of  price,  then  our  company  would  be  standing  in  the  middle.  We  are  neither  luxury  brand  nor  cheap  brand.  Product  positioning         5  
  •         Commercial  Plan  Selling  strategy    We  are  using  our  online  store  to  sell  and  promote  our  products.  It  is  important  to  make  people  aware  that  our  website  exists.  We  think  that  a  good  way  to  “spread  the  word”  about  our  business  is  by  using  different  types  of  social  media.  Facebook  and  twitter  will  be  very  useful  for  us;  also  this  is  a  inexpensive  way  to  promote  our  company  since  it  doesn’t  cost  anything.  We  will  also  try  to  have  some  product  placement,  by  contacting  bloggers  and  giving  them  free  items  they  will  in  their  turn  write  about  Style  Galore.  We  will  contact  papers  and  magazines  and  try  to  get  them  to  write  about  us.    On  a  more  local  basis  we  will  hand  out  flyers.  Also  contact  vintage  stores  or  other  designer  stores  were  we  think  our  target  customers  buy.  Our  selling  strategy  is  based  on  results.  We  will  start  off  on  a  smaller  scale  and  do  our  best  to  promote  our  business  “low  cost”.  If  we  see  that  we  are  not  reaching  customers  we  will  have  a  more  aggressive  strategy.  We  have  calculated  an  extra  cost  and  will  have  to  do  some  advertisement  in  magazines.  Also  we  will  give  out  flyers  and  posters  in  parties,  stores  or  schools,  where  we  think  our  consumers  and  designers  will  attend.  In  the  start  up  we  will  design  and  print  100  posters  for  50  €  (1  piece  0,50  €).  We  will  also  order  200  flyers  for  40  €  (1  piece  0.20€).  We  will  order  500  business  cards  (1  piece  0,01  €)  they  will  be  good  to  hand  out  to  people.  We  will  order  plastic  bags  for  930€  (1  piece  0.31€).  The  bags  will  have  our  logo  printed  on  them.  They  will  help  to  promote  our  business.  They  are  cheaper  if  we  order  them  in  bulk  that  is  why  we  are  investing  money  in  this.      Customers  Our  costumer  is  a  Modern  woman  or  man  that  is  concerned  with  design.  They  want  to  be  different  and  are  looking  for  items  that  are  individual;  this  is  there  main  shopping  driver.  We  think  that  the  age  of  the  customer  could  be  from  19-­‐   6  
  • 30.  They  are  in  a  stage  in  life  were  they  have  money  to  spend  on  clothes  and  are  concerned  with  being  fashionable  and  stylish.  We  are  focusing  on  young  generation  but  our  target  can  be  any  fashionable  person  who  appreciate  design  and  want  to  stand  out.  Fashion  trends  show  that  today  self-­‐expression  is  very  important;  we  will  give  our  customers  the  opportunity  to  buy  unique  cloths,  which  are  made  in  a  limited  addition.  Our  store  promotes  designers  that  have  an  innovative  and  creative  expression  and  produce  items  with  a  good  design.    Technology  When  it  comes  to  technology  the  website  is  obviously  an  important  part  of  our  business.  It  is  extremely  important  that  it  works  correctly.  The  costumers  shouldn’t  experience  any  problems  when  they  are  visiting  the  site  or  when  they  are  purchasing  items.      It  is  also  important  for  us  that  it  works  correctly  since  this  is  the  key  part  of  our  company.  Also  we  will  make  shore  that  the  contract  that  we  sign  with  them  will  contain  a  part  offering  help  if  any  technical  problems  should  occur.  That  is  why  we  are  using  well  known  Estonian  company  Wiseman  (www.wiseman.ee)  to  make  our  website.    Wiseman  has  already  collaborated  for  an  example  big  companies  like  Nokia,  Skype,  Paulig  and  Philips.    We  are  not  saving  money  on  making  the  online  store,  so  we  are  ready  to  pay  high  price  for  it.  We  have  figured  out  that  for  10  000  eur  we  will  get  good  online  shop  made  by  Wiseman.    Also  we  have  checked  which  address  is  free  for  our  domain.    Our  domain  address  would  be  www.stylegalore.net  -­‐  which  comes  from  our  online  shop  name.  We  can  have  this  address  right  now  for  free  but  for  the  server  we  must  pay  every  moth  3,77  euro    Production  Plan    The  idea  is  that  the  designers  create  their  items,  clothes  and  accessories.  They  take  care  of  the  production.  We  will  have  a  communication  with  the  designer  informing  them  of  the  status  of  their  garments.  If  the  garment  is  popular  we  will  want  to  produce  more.  If  there  is  anything  wrong  with  the  item  we  will  alternate  it.  There  will  always  be  a  good  communication  between  the  designer  and  us.    We     7  
  • will  keep  them  informed  and  help  them  if  needed.  We  will  sign  a  subcontract  with  the  designers.  The  subcontract  will  contain:    1.  The  designer  will  provide  us  with  goods.  2.  We  will  display  them  on  our  website  for  5  months  and  try  to  sell  them.    3.  We  will  keep  the  designers  updated  about  the  sales.  4.  Price  for  each  item  will  be  discussed  and  agreed  upon  with  the  designer.  5.  We  will  receive  10%  for  each  sold  item.  6.  If  the  items  are  not  sold  in  5  months  the  designer  will  receive  them  back  in  the  same  condition.    7.  We  are  taking  care  of  packaging  and  distribution.  8.  Also  we  will  do  the  advertising  for  the  designers.    We  will  design  and  order  business  cards  from  Vistaprint  and  plastic  bags  from  Reklambutiken.  They  will  have  our  own  logo  and  contacts  printed  on  theme.  This  is  also  a  way  to  promote  Style  Galore.      Staff    In  the  beginning  we  plan  to  do  al  the  work  ourselves.  We  will  handle  the  administrative  work.  This  could  be  signing  contracts,  budgets,  storage  and  handling  the  distribution.  Our  designers  will  be  our  freelance  employees.    It  is  important  for  us  to  keep  them  happy.  This  will  be  done  by  following  the  contract,  offering  the  service  that  is  promised  and  keeping  a  good  professional  relationship.  Looking  at  the  designers  needs  and  providing  them  with  help,  at  the  same  time  making  shore  that  they  keep  up  their  part  of  our  deal.  It  is  also  important  to  motivate  and  keep  a  positive  spirit  between  that  people  that  are  a  part  of  our  company.  The  designers  that  we  are  looking  for  are  talented  people  who  produce  items  that  we  can  see  are  attractive  for  our  customers.    We  will  contact  designers  who  are  studying  at  different  schools  or  universities  that  are  linked  with  design.  We  will  also  put  up  flyers  looking  for  designers.  We  believe  that  if  we  create  an  attractive  website  and  manage  to  promote  our  business  designers  will  be  interested  in  working  for  us.     8  
  •  Economic  aspects   Budget  for  start  up         Online  store         10  000  €   Web  server       3,77  €   Credit  card  payments       23  €   Equipment     448,23  €   Business  cards  (500  pieces)       5  €   Plastic  bags  (3000  pieces)   930  €   Flyers  and  posters       90  €   Total  expenses       11  500  €         One  month  sales         piece  approx.  costs   1       35  €     We  get   10%     Sale  per  day     10    pieces     1  month     31  days           1  piece   For       35x0,  1  =3,5     In  1  day     3,5x10=35     In  1  month       31x35=1085(€)           Income  statement  for  one    Month       Revenues         Sales         1085   COGS           99,2   Gross  Margin       985,8     Operating  Expenses         Web  server       3,  77 Credit  card  payments       23   Advertising            35   Total  expenses       61,77     EBT             924,03   Taxes  (18%)   166,3254     Profit           757,7046           9  
  • Funding  As  we  have  two  partners,  we  split  the  budget  to  start  up  with  the  business.  So  each  of  us  need  to  put  in  5750  €.  We  have  enough  money  in  our  savings  accounts  to  start  up  with  our  business.    Also  if  needed  we  have  financial  support  from  our  parents,  they  are  willing  sponsor  our  business.      Directing  Tasks  There  are  different  tasks  in  our  company.    In  the  start  up  of  the  company  there  will  be  many  tasks  that  will  not  occur  on  a  normal  basis.  We  have  divided  them  among  us,  some  of  them  we  will  do  together.         Start-­  up  tasks     Sabine   Together   Ellinor  Registration  of  the   Design  flyers,  posters,   Order  Business  card  company   plastic  bags  and   business  cards  Contact  Wiseman  (webpage   Buy  equipment   Order  plastic  bags  Contact  RBS  Worldpay   Advertising  (Handing   Sign  contract  with  (credit  card  payments)   out  business  cards  and   Correos   flyers.  Hanging  up   posters.)     Networking  (signing     contracts  with   designers)    When  the  business  is  working  we  will  divide  our  daily  tasks  the  following  way.           10  
  •     Daily  Tasks     Sabine   Together   Ellinor  Economy   Storing  goods   Photographer  Operating  with  delivery   Packing  of  goods   Webpage  manager  company     Advertising   Communicate  with   designers     Looking  for  designers        Start  up   1. Regristrate  our  web  domain  www.stylegalore.net  and  pay  1  month   for  the  server  –  3,77  €.   2. Contact  with  the  company  called  Wiseman  who  are  creating  our   online  store.    We  will  have  a  meeting  with  them,  where  we  will  tell  them   our  vision  and  then  we  will  sign  the  contract.  (Approx.  10  000  €  for   making  the  online  shop.)   3. Contract  with  RBS  WorldPay  ,  what  gives  our  customers   opportunity  to  purchase  with  credit  card.   4. Contract  with  Logistics  Company  Correos.   5. Design  and  order  business  cards  from  www.vistaprint.se  and   plastic  bags  from  www.reklambutiken.com  .     6. Buy  equipment  (camera  flash,  clothing  hangers,  clothing  racks)   7. Start  advertising.   8. Get  contact  with  designers  and  make  contracts  with  them.   9. Storage  the  goods,  photograph  them  and  upload  them  on  our   webpage.   10. Continue  advertising  and  creating  a  network  of  people.       11  
  • What  can  go  wrong?   If  our  marketing  strategy  isn’t  working  we  will  have  to  change  it  to  make   shore  we  reach  our  customers.  This  is  key  in  our  company  getting  people   to  visit  our  website,  spreading  the  word  about  our  designers  and  selling   their  items.  We  might  have  to  do  more  advertising  or  make  our  homepage   look  more  attractive  if  our  strategy  isn’t  working.  Also  it  is  possible  that   the  delivery  service  isn’t  as  effective  as  we  wish  then  we  would  have  to   change.  We  believe  that  our  business  can  be  successful  if  we  follow  our   business  plan.  Two  important  things  is  to  network  and  find  the  designers   also  that  the  design  of  the  website  is  appealing.           12