1 MY BUSINESS PLAN OF “SUBHAM DRESSES ” RADHIKA M. RAJPARA M.B.A SEM. 3rd Roll no. 69 DR. RAJESH PATELN.R.VEKARIA INSTITUTE OF BUSINESS MANAGEMENT STUDIES, M.B.A. DEPARTMENT JUNAGADH-362001
2 I have a great pleasure in presenting MY BUSINESS PLAN OF SUBHAM DRESSES. I am grateful to the DR. RAJESH PATEL, without whom this plan would have been adream. He support in providing me all the necessary information and his valuable guidancewhich will helpful to make me this report and also increase our practical knowledge. Thanks are due to all those who have directly or indirectly or contributed towards thisproject, which I may have missed. Place: Signature: Date: _____________________ (RADHIKA M. RAJPARA)
3SR PARTICULAR PAGNO. E NO.1. EXECUTIVE SYNOPSIS2. COMPANY PROFILE3. PRODUCTS AND SERVICES4. MARKET ASSESSMENET SYNOPSIS5. SECTORAL ASSESSMENT6. APPROACH AND EXECUTION SYNOPSIS7. SALES APPROACH8. INTERNET PLAN SYNOPSIS9. ADMINISTRATIVE SUMMARY10 FISCAL STRATEGY
5 Executive Summary In My Business Plan SUBHAM DRESSES, I and my Partners run a business of clothingstore. In current era everybody is conscious about their clothes because they know that firstlythey will recognize by their wearings and outer look because of this, in this century no onebusiness is such flexible and rapidly grow. So, I decided to start this establishment in the marketbecause it will flexible as per market trend and also essential and one of viable business in themarket. In SUBHAM DRESSES we provide sarees, dresses and western clothes also. MyBusiness plan represents information about products & services, financial arrangement,competitors, suppliers etc
6MissionCompany Mission SUBHAM DRESSES is a store for the quality- and style-conscious consumer.Providing unique, eclectic and affordable product, we intend to generate a fair return to financecontinued growth and expanded community involvement. • The other aims of the unit is as under. • To showcase quality, well-constructed fashions from prominent and cutting-edge designers . • To offer a variety of trendy and fashionable clothes. • To help women learn what clothing and styles go best with their unique personalities . • Through custom services, smart pricing and a sense of trust, it is our desire that you will look to us as your valued resource to achieve a personalized and trusted unit in the market.Keys to Success • The primary keys to success for the company will be based on the following factors:
7 • SELL products that provide quality and value to the consumer while meeting needs for an expression of personal style. • PROVIDE custom services such as in-store workshops and personalized promotions so that customers are retained to generate repeat purchases and make referrals. • COMMUNICATE with our customer base through print magazine advertising, postcard mailings and via our website. • ESTABLISH a visible, accessible and welcoming storefront and website to position us as the premier choice for our products and services within the marketplace and beyond.Objectives • Maintain a direct cost of sales of 45% or less, and gross margin of 55% or greater. • Maintain operating expenses to equal or less than that of plan. • Generate total revenue as per estimated in Year One. • Realize an annual growth rate of approximately 30% in Year Two. • Realize an annual growth rate of approximately 20% in Year Three.
9PROJECT AT GLANCE Name of Unit:- SUBHAM DRESSES Adderess :- SUBHAM DRESSES
10 Indra complex, Mangnath road, Junagadh-362001 Type of Unit:- Partnership firm, Registration under partnership Act, 1932 Name of Product:- Saree Dresses Western waresSubsidiary Registration .:- An application is made.
112. PROMOTER BIO-DATASR Name & Address Age Academic Experi Nature of Capital Qualificati ence responsibNO. (Years) on ility Contribut ion1. Radhika Rajpara 21 M.B.A. 1 year Personnel 25%2. Dhaval Rajpara 28 M.B.A. 7 year Finance 25%
12 3. Rahul Patadia 29 B.com 5year Retailing 25% 4. Vishal Pala 31 Fashion 8year Marketin 25% designing g& RetailingBRANCHES & FACILITIESOur other branch is in Ahmedabad at Shriji road which is 10 years older.And other branch is inJamnagar at Gurudwara road which is 5 years older in the market.Because of it is well knownBrand name in the market in junagadh also good number of customer are consumer of this unit.We provide special facilities to our customers which will bind and make our healthy relationwith each other.fitting facitiesConcession FacilitiesCredit card systems
16FEATURES & BENEFITSOne key feature that separates SUBHAM DRESSES from all other local boutiques and chaindepartment stores in the area is our commitment to providing women of the stylish, qualityclothing options. Because our primary concern will be ensuring our consumers are happy withthe fit and style of their purchase, we will provide products tailored to all shapes and sizes ofwomen.Further, SUBHAM DRESSES will not just be a store that sells clothes. Our clientele will benefitfrom an experienced, knowledgeable sales staff. Out of the gate, our goal is to implement asuperior customer service system. Beyond our friendly reception and an inviting atmosphere, Itwill also offer customers fashion information and advice. Our trained personnel will providecounsel that women simply cannot find at other clothing stores. Our qualified fashion-industryexpertise will ensure our customers walk away with the perfect outfit.
173.3 COMPETITIONIn SUBHAM DRESSES, there are no direct competitors offering our unique services orproducts. In the market, the shops most closely competing with this wear are as follows:JYOTI BOUTIQUE, which targets a younger demographic and specializes in natural fiberclothing. They also carry local art and jewelry.UTASAV, which targets younger women, specializes in offering trendy clothes.ANJALI STORES targets women within our target demographic as well, but they specialize inan affordable, folksy style of clothing.Shital dresses targets older women within our target demographic, but specializes in the morehomemade and heavy work style clothing.
194.1 TARGET CUSTOMERSUBHAM DREESSES is a business-to-consumer retail company. In target market market focuson special group of people which will cover major or overall market. Young age girl are ourclear target customers. However, we do realize that we will likely attract some house wife andworking women with our products.MARKET DIVISIONResearch has shown that women are stressed, have little time to shop, and would generally likehelp in determining the right clothes and styles to wear. With over 71% women between the agesof 25-54 spending more on clothing each year, there are sure to be some mistakes made inclothing choices. Television shows and tv serials make them familiar about "What to Wear" andcurrent fashion of the market and clearly speak to a womans confusion about what looks best on
20her. Even women who can afford a professional stylist feel helpless and often jokingly requestthat their stylist come to their home every morning to help them get dressed.Statistics, studies, and our own personal experiences show us again and again that excellentcustomer service lowers customer attrition rates, fosters excellent word of mouth and mostimportantly, increases sales. consumers find important in deciding where to shop, four wereattributed to customer service.MARKET REQUIREMENTSCustomer needs, expectations and buying patterns customer loves to shop and enjoys going to SHOPPING. Our unit is knowledgeable aboutdesigner fashions and tends to shop for seasonal wardrobes twice a year plus picks up variousfashion and basic pieces throughout the year. By offering fashionable accessories and wardrobeorganization items, SUBHAM DRESSES will be able to grab a larger share of her wardrobebudget.It possess a warm and comfortable environment and nice dressing rooms. We provide thespecial touches of personal shopping assistance and having the ability to special order items.Market expandingAs our company grows and our boutique earns a positive reputation, several opportunities willopen to us. And we are considering some options already. Should we choose to remain a smalllocal boutique, we will develop and grow our company by increasing existing clothing lines andexpanding our selection to include additional products such as Men and children wares. Withinfive years, we will assess the potential for franchising our stores in select locations.
21Additionally, as we build our business, we plan to develop our business all over Gujarat. we planto develop one quickly and efficiently. We also see the potential for regional and/or nationalexpansion at some point.
23In our shop we sell our products by direct selling and purching from wholesellers. We are notusing market channel distributions. Our suppliers from indoor, ahemadabad, baroda, suratMumbai, etc.
24PricingValue received is the key to pricing. Price of the product means it is value in money but for themarketing term it is wider term.A marketer wants to know that does price means to otherconcerned parties that is related to customer. Thus, what you do about the prices you chargedepends on the lines of merchandise you buy and sell. It depends also on what your competitioncharges for these lines of merchandise also.Here inSUBHAM DRESSES we decide our pricing on the approach of cost plus profit basis. Byusing this approach we decide our reasonable pricing for customers.Advertising
25Advertising is a non personal or one way form of communication conducted through paidmedia.Now a days it is commonly used and essential source for recognition. When you have animage, price range, and customer services, you are ready to tell prospective customers why theyshould shop in your store. We use the local media like newspapers, television, magazines, posters and pamplates andprinters of direct mail pieces for information about the services.PromotionThe following promotional tactics for generating ideas and awareness about wonder westernwear will be implemented:Personal selling and word of mouth via networks of friends, stylists and customersUnique visual displays in storefront on a weekly basisPR (local) of Boutique by email and lettersDirect mail such as postcard notices that are targeted specifically to the customerSales Promotion such as store events and bi-annual salesAdvertising will be at a minimum with regular ad placements
26Customer Service PoliciesThe service you provide your customers may be free to them, but you pay for it. For example, ifyou provide free parking, you pay for your own parking lot or pick up your part of the cost of alot you share with other retailers.Some competitor provide extra facilities like buy one get one free to compete that strategy weprovide them free fitting facilities to our customer. Sometimes we provide voucher facility anddiscount facility on huge or bulk buying.In-store Sales PromotionCustomers will have more buying confidence and be more comfortable in your store if theyknow they can afford to buy. Credit makes this possible.To encourage people to buy, self-service stores rely on layout, attractive displays, signs andclearly marked prices on the items offered for sale. Other stores combine these techniques withpersonal selling.
27Personal attention to customers is one strong point that a store can use as a competitive tool. theyare interested in being served promptly and courteously. Nothing is more frustrating to acustomer than being ignored by an employee. how to greet customers, show merchandise,suggest other items, and handle customer needs and complaints.
28SALES STRATEGYSUBHAM DRESSES plans to generate sales via strategic marketing efforts. These concentratedefforts will be targeting new and returning customers as well as single-visit tourist consumers.We will also implement a referral program rewarding customers who refer new customers withdiscount coupons. Following our grand opening, we will conduct a direct-mail campaign totargeted consumers that we have signed up through our in-store mailing program. We will offerpromotional discounts and seasonal and clearance sales throughout the year.
29SUBHAM DRESSES will accept cash and payment via major credit and debit cards. Cashlayaway plans will also be permitted. Returns and exchanges must take place within 30 days ofpurchase and receipts are mandatory.Our sales staff will include both co-owners and 2-3 part-times sales associates. Our sales teamwill earn an hourly rate, plus a generous percentage of commission from each sale.
30Website Marketing StrategyResearch shows that the number one reason people log on to the Internet is for information.SUBHAM DRESSES strategy is to provide as much information as possible on their currentdesigners, fashions and style tips, as well as to utilize the appropriate search terms to deliver themost relevant click-throughs. Awareness of the website will be provided in local advertising,public relations efforts, customer emails, in-store signage & receipts as well as direct mail andword-of-mouth.
31INTERNET STRATEGYWe have secured the domain name subham dresses.com and will begin site development asfunds become available. Further, we plan to hire an established Web designer that will acceptmodest pay in exchange for future profit-sharing. Foremost, we intend to showcase our brand,our clothing and provide customers with the ability to purchase items online. As the siteprogresses, we will include features such as fashion advice, designer interviews, newsletters, andInternet-only specials. Eventually, we hope to establish and nurture an online social communitywhere women can gather and discuss topics of the day, network and share clothing secrets.
32ORGANIZATIONAL STRUCTUREAs a small business, we will have a small staff. Both co-owners will assume leadership roleswithin the company and will be responsible for daily operations, overseeing marketing efforts,buying merchandise and managing inventory and all other administrative duties. A small salesstaff will assist co-owners with securing sales, assisting customers and general maintenance ofstock on the floor.
33STAFF MEMBERSWonder western wear will employ a sales staff of 2 part-time employees. These positions are yetto be filled. However, we feel the labor pool is such that finding qualified employees will not bean issue. Our sales associates will be paid an hourly wage, plus commission. Bonuses will beprovided with each year of service following an annual review to encourage employee retention.
46 Total expenses 2336394Total sales 5250000Estimated profit 2913606Income tax 823082Net profit 2090524Cash income (Net Profit + Dep.) 2655026
47 10. Cash flow statementSources Amount Application AmountOpening balance - Tax paid 823082Cash on hand 188030 Interest 914052Profit before tax 2913606 Depreciation 564502 Contingency 100000 Closing balance - Inv. purchase 700000Total 3101636 Total 3101636
48 11. Fund flow StatementSources Amount Application AmountOwn capital 3630000 Land 4360000Bank loan 425000 Building 675000Loan from GSFC 1943350 Plant & Machi. 508350 Other assets 100000Adjusted profit 200000 Working capital 550000 Preliminary exp. 5000Total 6198350 Total 6198350
53 The modern world is fast growing. New innovation of yesterday is old for today; itis a past & tomorrow is a present. There is a wide scope of growth in this line because this is theonly industry where constant demand is also available. Though there are some limitations the future of the industry is very bright asbecause of its efficient management as well as human recourse. The following are the futureprospect or future plan of industry; • Expansion in existing market. • Development of various branches all over the world. • To get more profit. • To introduce new innovation in the market.