Company Description• Introduction • Woman’s clothing and accessories boutique in Nassau, Bahamas • Women ages 15-30, professional with disposable income.• Mission Statement • “To make shopping a pleasant, yet inexpensive experience for Bahamian women ages 15-30, while providing their lives with a sense of confidence and beauty.”• Tagline • “Fabulous is understatement”
Management Team Founders Ownership 50%/50%Val Butler• Miami, Florida• 2 years retail experience• 4+ years in customer service• Co-founder of Port of Miami Boutique (60% ownership)Amber Rolle• Nassau, Bahamas• 4 years retail experience• Degree in International Business• Co-founder of Port of Miami Boutique (40% ownership)
POM Organization Structure Founder(s)/CEOMarketing/ Merchandise POM Manager Book KeeperPromotions Buyer POM Assistant Manager • Total Fulltime Employees – 2 • Total Part-time Employees – 8 POM Associate Staff Arrangement for Store Hours 1 Manager and/or Assistant Manager 2 POM Associates
Overview • Latest trends at the best prices • Dresses, jeans, tops, accessories, swimwear, personal styling services, etc. • Cater to the Bahamian women ages 15-30 • Located along Bay Street in Nassau, Bahamas (Island of Providence) • Unique and exclusive selection of merchandise (2 per size– 2S, 2M, 2L)
Challenges and Risks• Delay in store opening• Overstocked inventory• Shortage of inventory• High importing costs• Decreased in sales• Shrinkage• Competition
Year 1 -Overview• Raise awareness.• Position ourselves in the market.• Loyal clientele.• Engage the community.• Take advantage of word of mouth, social media PR.• Reach our goal of $162,235 in sales for the first.• Acquire a database of clients and prospects of at least 5,000 people.
PositioningPort of Miami Boutique provides with unique andfashionable yet, affordable clothing for women inNassau, Bahamas.Our brand personality is:• Stylish• Innovative• Exclusive• Feminine• Fun• Approachable & sophisticated.
Points of Differentiation• Only store with Miami-style fashion.• Unique styles currently not found in the island.• Strong competitive advantage on quality and pricing• Committed to make a positive impact on our community through free seminars.• Weekly online updates
Product Attribute Map Christian Dior High Coles of Nassau Bold & Beautiful bStyle + Quality POM Boutique Bahama Hand Prints The Straw Market Low PRICE High
Pricing Strategy• Value based strategy• Margins from a 25% to 100%.• Clothing may have an average of 50% profit margin.• Jewelry could enjoy up to a 150% margin.• We will research to obtain merchandise that is fashionable yet affordable so we can translate these benefits to our clients.
Promotional Mix• Industry related trade shows.• Unique visual displays in storefront on a weekly basis.• Free 2-hour beauty and fashion seminars held the last Friday of every month at our boutique with guest speakers.• PR in the local community featuring our free seminars and testimonials.• Facebook and Twitter updates featuring new product arrivals among other industry related information.• Social media contests to periodically feature our Facebook followers as models for new arrivals.
Promotional Mix (cont)• Direct mail – seasonal postcards• POM Boutique Web Site.• Ads on targeted publications such as University magazines.• Loyalty program featuring discounts for returning clients.• Merchandise or possible seminar sponsors’ giveaways to loyal customers. (free sample kits, etc)
Year 2 website maintenance costs:Ongoing costs starting year 2:• Domain name and Hosting - $130 yearly with Godaddy.com• Search Engine Optimization - $1200• Site Design Changes - $500 per year I LOVE POM