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Small business plan


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Small business plan

  2. 2. BUSINESS BACKGROUND Shop Name: Queen Tailor Shop Location: Subang jaya, Malaysia Business hours : 0900 – 1700 except for weekends Why in Subang Jaya? • Population Concentration • Many schools and universities
  3. 3. Products That We Offer • fit formal attire • school uniforms • choir robes • big and tall clothing • and any type of clothing that fit
  4. 4. Services That We Provide • tailor made (measurements of client is needed) • formal attire renting • clothing alteration (can remeasure and repair if customer is not satisfied for free) • restyling of outdated clothes • zipper repairs Others • price will be cheaper if customers provide their own fabric • membership can get discount
  5. 5. MARKET ANALYSIS How big is the market? • Quite big -Many competitors to have -Need to make sure our products and services stand out -Needs to rethink pricing policy
  6. 6. Target Customer • Adults (suits) • Students (uniforms) • Anyone that needs fit attire but low budget WHY? -most people want formal attire to be fitting -looks nicer with fit attire
  7. 7. Potential Competitor • Club Man Shop • See Bee Tailor • Cyc Tailor shop • Egypt Tailor Shop • SPARK MANSHOP • Alazar Tailor • Spotlight Tailor Design • Merlee Shariff • L & J CLOTHES ALTERATION
  8. 8. Strength and Weakness of Competitors • Strength: -Have more experiences -Have fix customers • Weakness: -Pricing is too high -Less service
  9. 9. Marketing Strategies Benefit of this service: • Quality making. • Fulfil customer’s requirement. • Will complete work on time.
  10. 10. Sales strategy • For first time purchasing customer will get 20% discount for next time purchase. • For those who bring your own fabric to make clothes will cost cheaper. • Business card- business card is a message to alert people you started something new in your area. • Collect points and get a free gift. • Can paid after getting the attire ( for those who decide go to our shop to get attire) • If more orders are made, the service will be cheaper. • Provide postage but fees will be included. • Refund is not available once you the payment is made. • Can redo if the services are not satisfactory / get damaged clothes
  11. 11. Pricing: • Depending on what fabrics customers choose. • RM 13.5/hour for workmanship Advertising and Promotional activities: • Set advertisement on the newspaper. • Email to us if you want to booking: • Our FB pages : • Follow our Instagram: Queens Tailoring
  12. 12. • Business card sample & advertisement poster sample TAILORING SERVICE BELINDA LAU MANAGER Subang Jaya, Kuala Lumpur, Malaysia Tel: 1234567890 Opening Hours: 0900 – 1700 Mon - Fri
  13. 13. Management Strategies TAKE THE FIRST PROFESSIONAL STEP - PARTNERSHIP • Quality and Solidarity • Fashion and Trend Management/Manager (1st Partner) – uphold and ensue the global trend of tailoring, promote new fashion to the local society. • Equipment and Supplies Management/Manager (2nd Partner) – maintain and regenerate store equipment and basic supplies. • Accounting and Marketing Management/Manager (3rd Partner) – payment system, advertising flyers, distance tailoring and social media marketing (collection display, customers testimonials, sewing services, operation cultures, online boutique and samples) • Human Resources Management/Manager (4th Partner) – right recruitment, orienting and training, benefits, incentives and wages management, dispute solutions and communication efficiency.
  14. 14. Initial start-up plan 4 managers and 2 middle-class experienced employees, with common responsibilities of: Custom tailoring Alteration works (Retailers’ Subcontract) Formal attire rental services 1 lower employees, who responsible for product selling.
  15. 15. Future expansion • Open boutique and working place in the city trading centres • 100 middle-class experienced employees • Premade loads of luxury formal attires for renting services
  16. 16. Financial Plan • It is a 4 individual partnership so the capital is shared. • Business License cost for new registration of small business is RM30 and RM30 consistently for every year (According to Suruhanjaya Syarikat Malaysia SSM) • Each owner has to pay around RM2730 to start this business • Hopefully no loans are needed No. Single Unit (RM) Total Cost (RM) Industrial Sewing Machine 3 1000 3000 Embroidery Machine 1 3000 3000 Thread 100 Location Rent 1 2000 Advertising cost 500 Packaging cost 200 Water & Electricity bill 150 Other costs (Resit book, Cashier, Display shelf etc) 500 Total 9450
  17. 17. Sales forecast • Sales forecasts estimates the sales for the forecast period. • Total cost of stock = man power = employee pay (RM1500) • 1 day working hours is 8 hours. Employees are earning RM9 per hour. • Fabric cost does not count because it is paid fully by the consumer • Using the Margin method, Estimated sales forecast = (total cost of stock x mark up ÷100)+ total cost of stock • Estimated sales forecast = (RM9 x 50/100) + 9 = 13.50 • So we will be earning RM4.50 profit per hour for each sewing project • So for the first year, we will be earning around RM129,600 profit
  18. 18. IN 3 YEARS… Profit by company • RM 129,600 X 3 • Total = RM 388,000 Deducting initial budget • RM 388,000 – RM 9480 = RM 379,320 • RM150 (Water&Electricity bill per month) x 36 = RM 5400 • RM 379,320 – RM 5400 = RM 373,920 Split among owners • RM 373,920 / 4 = RM 93,480 per owner
  19. 19. Conclusion • Action plan Strategies Service Product Finance create a unique positioning in market provides freebies that competitor don't better quality Increase worker salaries when they provide with good service create sales more favourable opening hour more beautiful packing Try to reduce the electricity wastage by using efficient machines website is more efficient and reliable offer online ordering where competitor don't more efficient Use extra income to supply more machines
  20. 20. References / Citation • How to Start My Own Sewing Business. (n.d.). Retrieved October 29, 2015., • How to Start My Own Sewing Business. (n.d.). Retrieved October 29, 2015., • Registration Fees of Business and Companies | Suruhanjaya Syarikat Malaysia (SSM). (n.d.). Retrieved October 29, 2015., • What is Marketing Analysis? (2015, May 4). Retrieved October 29, 2015., • START YOUR OWN SEWING BUSINESS IN 5 EASY STEPS. (n.d.). Retrieved October 29, 2015., STEPS-/10000000006397042/g.html