This document summarizes a business plan for a vegan footwear and accessories store. It outlines the business overview including 3 owners, target markets of vegetarians, flexitarians, and eco-conscious consumers. Products include vegan footwear, purses, and accessories. The marketing strategy focuses on a mall location, competitive pricing, and online advertising. Financial projections estimate revenue of over $1 million in year 3 with net incomes of $61,000 in year 1 growing to $130,000 in year 3. The plan also discusses operations, funding, break-even analysis and cash flow projections.
Kroger's new digital marketing campaign will be featured around the theme of becoming the Midwest's Best Grocery. The campaign will feature multiple digital marketing techniques to boost Kroger in the Midwest.
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An understanding of the organic market in India. Very useful for marketeers to get a perspective on insights on retail, consumer, brands, distribution and trends.
Storytelling as a contemporary practice was born in USA in the last 20 years
It is the art of telling stories in order to achieve a precise objective (more empathy with our customers, tell a project, explain in a narrative way how an enterprise was born, etc.) and to put ourselves between the ordinary and a special world;
On general basis, a story takes off from a conflict/problematic situation, up to the development of the story and its conclusion.
Kroger's new digital marketing campaign will be featured around the theme of becoming the Midwest's Best Grocery. The campaign will feature multiple digital marketing techniques to boost Kroger in the Midwest.
Successes, lessons and challenges from grain legume sourcing, processing and ...ILRI
Poster prepared by Engidu Legesse and Mulugeta Enki (Guts Agro Industry PLC, Addis Ababa, Ethiopia) for the ILRI-N2Africa Annual Partners Review and Planning Workshop, ILRI, Addis Ababa, 16-17 March 2017
Supply Chain Management of Locally-Grown Organic Food: A Leap Toward Sustaina...Cognizant
With the organic food market growing rapidly worldwide, supply chain issues loom large in farmers' ability to provide organic produce and meats. Some key issues include accountabilty and traceability, reducing time to market, controlling food mileage, better integration of supply chains with small farms as well as industrial organics and enhancing value delivery networks and value chains.
An understanding of the organic market in India. Very useful for marketeers to get a perspective on insights on retail, consumer, brands, distribution and trends.
Storytelling as a contemporary practice was born in USA in the last 20 years
It is the art of telling stories in order to achieve a precise objective (more empathy with our customers, tell a project, explain in a narrative way how an enterprise was born, etc.) and to put ourselves between the ordinary and a special world;
On general basis, a story takes off from a conflict/problematic situation, up to the development of the story and its conclusion.
خلاصه تصویری کتاب ۲۲ قانون تغییر ناپذیر برند - آل ریس
22 Immutable Laws of Branding - Al Ries
خلاصه: دکتر یحیی علوی
www.alavi.ac
Dr Yahya Alavi
telegram.me/dryahyaalavi
Residential Property for Sale in Chennai by Akshaya with Great AmenitiesAkshaya Construction
Visit: http://www.akshaya.com | Looking to Buy Property in chennai. Get Details of the Residential Projects Available for Sale in Chennai by Akshaya Such as Acres and Acres, Levelup, Metropolis, Orbit 11, Republic, Smart Tango, Tango, Today and Trichy Rich, etc.
Choosing a gift for men is the most difficult task and it becomes more with husbands. To make your anniversary special and memorable, you must be thinking of various ideas of gifting.
Consumer Behavior is the study of, how individual customers and groups select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants.
Marketing Research for Metropolitan MarketJung Eun Kim
This is a presentation slide of my academic research project conducted at Emerson College in Fall 2011. It was part of the group assignment in the course 'Introduction to Research Methods' instructed by Seounmi H. Yoon. The purpose of this research is to identify the business opportunity in Great Boston Area by selecting the client. From the file, Metropolitan Market is a grocery store from Great Seattle Area.
Beyond soccer and samba, Brazil is known for being an innovative, forward-thinking and creative country with warm people, an energetic culture, abundant natural resources and a good-looking population. We wanted to see how we could bring some of this "jeitinho brasileiro" to the United States.
Natura Cosméticos is a Brazilian purveyor of personal care products and because Boston has the third largest foreign-born Brazilian population in the United States, we wanted to see how Natura Cosméticos would fare in the Boston market.
Market Research included exploratory research, surveys and focus group interviews (FGI) and through this presentation, we want to share our results and recommendations for Natura Cosméticos.
The concept of marketing starts with customer needs and ends with consumer behavior by meeting the needs of the customers. • The marketers are specifically interested in understanding what a consumer looks at while choosing a specific brand. • CB tries to understand the consumer as a whole.
The development of productive and fully integrated linkages between the Agri-Food Sector and Tourism in the Caribbean Region offers significant potential for repositioning and broad-based growth in the Agriculture value chain, and opportunities for channelling the Region’s diversity and building-in genuine competitiveness and sustainability in the tourism product.
Forging Agriculture-Tourism linkages capitalizes on the inherent ability of the Tourism sector to diversify the Caribbean economy, stimulate entrepreneurship, catalyse investment and assist in wider social development in local communities. Such linkages offer unprecedented opportunities to stem and reverse the declines in traditional agriculture, stimulate the rapid growth in “new‟ agriculture and build resilience and sustainability of Caribbean economies. The latter is particularly critical for reducing the high levels of foreign exchange leakage in tourism, preserving cultural identity, reducing poverty in local communities and enhancing local awareness and good practices with respect to climate change and environmental issues.
Goal: To provide a mechanism for managing and increasing the local and regional development impact of Tourism and Agriculture through the creation of a collaborative and inclusive planning and implementation framework that can drive trade and new business between the two sectors.
Objectives
· To promote linkages between the agrifood sector and the tourism industry to increase sustainable sourcing through the strengthening of agritourism policy and strategy in the Caribbean
· To increase the understanding and awareness of the current deficiencies in the supply of fresh and processed agricultural products along the value chain and the actions needed
· To design inter-sectoral and inclusive policies which promote PPPs for improved local food use and consumption.
· To identify concrete regional projects that can be supported under the intra ACP EU funding.
discusses distribution winning ways and processes with special emphasis from the fast moving consumer market.
channel development and management also discussed.
14. Start-Up Costs
Total = $239,874
Working
Capital
$89,874One-
Time
Costs
$150,000
Costs
Total = $232,000
BDBC
Loan
$100,000
Line of
Credit
$65,000
Share
Capital
$45,000
Grant
$22,000
Funding
15. Net Income
Year 1 Year 2 Year 3
Revenue $1,190,667 $1,309,734 $1,440,707
Expenses $1,128,813 $1,209,245 $1,310,611
Net Income $ 61,854 $ 100,489 $ 130,096
16. Break-Even Analysis
• Break-even point = $949,228
• Break-even point expressed as pairs of shoes
= 15,067 per year
• Shoe sales per hour = 5 pairs of shoes per hour
Has anyone in our esteemed audience ever heard of a vegan shoe store before? You might be surprised to learn that vegan shoe retailers are successful business models in other major cities. When we first thought of the idea of bringing this business model to Winnipeg, we wanted to determine first 1) if Winnipeg was ready for a vegan shoe market, and 2) just how hard is it to find vegan shoes in Winnipeg? We’re going to answer the first question throughout our presentation, but first let me tell you a little story. One fine fall day in 2010, I decided to try to find three pairs of vegan shoes. I started by doing some Internet research, but I couldn’t find any Winnipeg retailers advertising vegan shoes, so I decided to call some stores. After 3 hours of Internet research and phone calls to shoe stores, I felt I had enough leads to hit the road and go shopping. I found that some sales clerks knew what vegan shoes were and could point me to one or two vegan shoe lines, while other clerks had no idea what I was talking about. After another four or so hours of shopping, I had finally purchased three pairs of vegan shoes. That’s a total of seven hours. Enter Carrot Shoes, Winnipeg’s solution to this problem. We’re a one-stop destination location for eco-vegan footwear.
The company’s objectives are:
Be the first strictly vegan retailer in Winnipeg
Distinguish the business from conventional shoe retailers by focusing on responsible purchasing behaviour
Achieve a considerable market share in the retail shoe industry
Engage customers by providing an informative shopping experience
Promote a strong commitment to animal rights and the environment
Carrot Shoes will be a vegan shoe boutique located in Winnipeg, Manitoba’s Polo Park Shopping Centre. Based on a recent survey conducted in Winnipeg to determine the feasibility of this business model, 41 percent of environmentally-conscious and/or vegetarian females surveyed are very likely or definitely likely, to shop at the Polo Park location, and 20 percent of the environmentally-conscious and/or vegetarian males surveyed are also very likely or definitely likely, to shop at the Polo Park location.
Polo Park Shopping Centre is a high traffic mall in Winnipeg and has multiple stores that are exclusive, with no other locations in the city (Polo Park). The vegan shoe store will cater to a niche market of customers looking for shoes and accessories made with natural and synthetic vegan or non-animal natural products. The target markets include vegetarian/flexitarian consumers (consider themselves vegetarian or consume meat products only occasionally), eco-conscious consumers/environmentalists and mall shoppers. The environmentalist and vegetarian segments of the population are growing, and this business will serve their needs by being a destination location for vegan-only shoes and accessories.
Eco-conscious consumers form one of the company’s target markets, so extra care will be taken to ensure that all suppliers are aligned with those values upheld by this target market, including:
Buying locally to ensure fair labour practices along the supply chain
Buying shoes made with natural materials when possible
Sourcing from Canada and northern US states first, then expanding to all of North America, and lastly International suppliers
Ensuring that all business practices make the smallest carbon footprint possible
Will run as a corporation for various reasons such as limited liability, tax advantages and an unlimited lifespan.
For more information on the owners and legal form of business see the Ownership and Management section.
President and Director of Marketing: Raimey Gallant is an environmentalist and a Red River College marketing major with previous marketing experience.
Senior Buyer and Director of Administration: Lauren Best is a vegetarian and a Red River College administration major.
Director of Finance and Operation: Aisha Choudhry is a Red River College accounting major with retail experience. All of the directors hold an equal share of the business.
Winnipeg has an estimated 63,000 vegetarians, and more than 100 shoe stores, and not one of those shoe stores is catering exclusively to vegetarians and vegans.
This brings me to our first target market, which includes vegetarians, who do not eat animal products, vegans, who do not eat animal or animal bi-products such as eggs and dairy and flexitarians, who reduce their meat consumption. Our research shows that this segment of the population is growing due to increased awareness of animal abuse.
Our second target market is the eco-conscious consumer and environmentalist segment, which is also growing. Environmentalists reduce or eliminate their animal consumption, because it is becoming more and more known that raising livestock contributes to climate change.
The third target market is the mall shopper segment. We’ve chosen Polo Park as our location of choice, and it is the busiest mall in Winnipeg.
Because we will be the only vegan shoe store in Winnipeg, the vegetarian and eco-conscious segments will travel to us, as we will be a destination location to them. The business will benefit from the mall shopper segment, because we will be where they shop.
The retail vegan shoe store business model has had success in other markets, such as Vancouver and New York, and we believe Winnipeg has the market to ensure success in our market as well.
The results from our primary research have told us that our customers think of the following attributes when they think of what they want in a pair of shoes:
They want quality or durability.
They want stylish shoes.
They want to know that their shoes were manufactured with fair labour practices.
They want to buy locally.
They want shoes made with environmentally-friendly materials when possible.
Our vegetarian and eco-consumers want vegan shoes when possible.
They don’t want to pay a premium for socially-conscious shoes.
Carrot Shoes has aligned our product philosophy with these attributes in mind. We will offer quality vegan shoes and accessories for both men and women.
We will serve the mid-to-high-end market, offering shoes that are of comparable quality and style to what is offered in other shoe stores in Polo Park.
Our staff will be well-trained, knowledgeable and able to answer our customers’ questions.
Carrot Shoes is working with both Canadian and International manufacturers to supply its products. The business strives to supply stock from local sources whenever possible to help reduce its carbon footprint.
Shoes and accessories such as belts, purses, and jewelry will be of high quality and comparable in style to what is offered in other shoe and accessory stores in Polo Park.
Prices will also be comparable to other quality shoe stores in the Polo Park, with price points ranging from $30 to $200. The price points are comparable to stores such as Browns, Town Shoes, Payless, and Sterling.
Strengths:
Unique product to Winnipeg market
Niche customer base
Knowledgeable staff
High-traffic mall location
Owner experience (both a strength and a weakness)
Weaknesses:
New retail offering
Unfamiliar market segment
Lack of experience in management
These weaknesses are addressed in several ways. The first is that we have already conducted significant primary and secondary research and plan to do more on an ongoing basis. The second way we plan to offset our weaknesses is that we will establish a network of mentors to guide us. For instance, we have already developed relationships with the general manager of Polo Park, as well as with shoe store managers in Winnipeg and a vegan shoe store in New York.
Opportunities:
Increase in consumer awareness
Online presence
Increase in responsible purchasing habits
Threats:
Difficulty establishing exclusive contracts: vegan shoe manufacturers will be monitored continually for new entrants to add to Carrot Shoes’ product lines.
More vegan lines carried by competitors: Carrot Shoes will strive to create an atmosphere where customers can trust the knowledge of staff and make well-informed vegan shoe purchases.
Carrot Shoes targets a niche Winnipeg market of vegans, vegetarians, flexitarians, environmentalists and eco-conscious consumers.
These are emerging market segments in the city and as such, it is imperative that the business have an in-depth understanding of the attitudes and buying habits of this market to effectively approach this customer base.
Our primary research indicates that the demographic of these consumers will consist primarily of females between 18 to 35 years of age, although the store will cater to men in this age bracket as well.
Our research also indicates that there is overlap in values. In other words, many environmentalists are also vegetarians or flexitarians.
We found that these segments want to make responsible buying decisions.
To be effective in this approach, Carrot shoes must instill confidence in buyers by providing customers with carefully selected brands and detailed information on the composition of all product lines sold. We will accomplish this by developing a standardized labelling system, which will indicate the contents and eco-footprint of each shoe.
Product Strategy:
Products available at Carrot Shoes will be from different designers and brand names, in various price ranges to meet the different budgets consumers may have.
The vegan shoes will follow many trends: casual, dressy, high fashion and sporty.
A formulized retail training course focusing on customer service will be a cornerstone for every employee at Carrot Shoes, extending to product knowledge of shoe fitting, shoe care and the manufacturing eco-footprint.
Transparency is important; if sales staff can’t answer a particular question, every effort will be made to find a response for the customer.
Sizes that are unavailable will be specially ordered through suppliers.
The store will be designed to attract the vegetarian and environmentalist segments as well as the mall shopper segment. The design will be clean, uncluttered and brightly-lit, and a mainly white palette will be textured with elements of nature incorporated into the design.
Location and Distribution Strategy:
Polo Park is considered to be the busiest shopping mall in Winnipeg with a 33 percent market share of shoe retailers. Rather than establish a boutique in a trendy window-shopping neighborhood, an accessible location in Polo Park will allow the store to benefit from non-vegetarian mall foot traffic as well. For this reason, Polo Park is the optimal site.
All distribution will be in-store, but there is potential for on-line sales once a customer base has been established. At the beginning of operations, a website outlining featured inventory will be available for informational pre-shopping purposes called a brochure wear site.
Pricing Strategy:
The prices will be comparable to and competitive with what other Polo Park shoe stores are selling their shoes for.
Promotion and Media Strategy:
Promotions will aim to portray an image of fighting for a cause while communicating features such as quality, style, and social responsibility.
Survey results indicate that both the mall shopper and eco-vegan target markets participate in on-line activities more than any other media. The business will capitalize on the free and cost-effective benefits of promoting Carrot Shoes using social media, viral marketing, and an email database will allow for the promotion of sales, coupons and contests.
Targeting the segments using print media is worthwhile, as a significant percentage of all segments read magazines and newspapers. Advertising in targeted publications such as the Winnipeg Vegetarian Association newsletter have been preferred over general publications such as the Winnipeg Free Press.
Polo Park is a high traffic mall and an ideal location to meet the needs of all of the target markets.
9.7 million people visit polo park annually
There are no other vegan shoe stores in Winnipeg, therefore Carrot Shoes has only indirect competitors vying for a share of the vegetarian and environmentalist target markets. The indirect competitors are the Winnipeg shoe stores that carry only one or two vegan shoe lines, but it is difficult and time intensive for consumers to conduct pre-shopping research prior to heading out to shop for shoes.
The competitors for the mall shopper target market would be all of the shoe stores in Polo Park Shopping Centre, which account for a total of 13 retailers. Several other stores in the mall, such as Sears, also offer shoes, but these stores either do not specialize in shoes or offer mainly athletic shoes. The remaining shoe retailers in Winnipeg are also considered indirect competitors.
The vegetarian and eco-conscious target markets are growing due to increased awareness of climate change and animal rights issues.
The results from the joint vegan/vegetarian/flexitarian and environmentalist/eco-conscious consumer surveys show that 85 percent are somewhat likely to definitely likely to shop at this business.
The mall shopper survey found that 75.2 percent feel the same way.
From the combined survey results, the target markets can be further narrowed to between the ages of 18 and 35, as 63.7 percent of the respondents fell into this age bracket. It should also be noted that another 16.3 percent were between the ages of 36 and 45.
On average, people in the US spend $327 per person on shoes per year.
The main future goal is to develop and implement a Customer Loyalty Program using a Customer Relationship Management system. This will be used to gain valuable customer information in order to effectively develop and distribute ongoing promotional and marketing strategies. A points system will be developed to reward customers with incentives to encourage repeat purchases. To cater to the needs of the eco-conscious segment, consumers will have the option of tracking their points by e-mail.
The development of a store website will be a future priority given that primary research indicated that 95 percent of those surveyed use the Internet on a regular basis. This will allow consumers to view products online and place orders.
In addition, plans to develop future Corporate Social Responsibility initiatives will be established. These programs will influence consumers buying behaviours and contribute to shaping a positive image for Carrot Shoes within the local community. This will increase profits because it will encourage consumers to shop responsibly. The effectiveness of customer relationship management initiatives will be measured by tracking store traffic following the campaigns.
Supply Strategy:
All of the products carried at Carrot Shoes will be produced by outside suppliers. For those suppliers with no specific shipping regulations, Carrot Shoes will use its FedEx shipping account to ship products to the store.
Carrot Shoes will purchase Point of Sale software that will allow for easy tracking and ordering of inventory with suppliers.
The company will secure trade credit with all vendors to improve the cash position of the business.
If a product line were to terminate their contract with Carrot Shoes, they would be replaced with a similar product line.
Carrot Shoes will continually search for new and exciting vegan shoe lines to keep up with consumer trends.
Suppliers
Suppliers will be selected based on the following criteria: social and environmental responsibility, durability, fashion and price.
Shoe and accessory brands will be sourced from suppliers that have appeared to be popular in other vegan shoe stores internationally. A sample of our preferred suppliers include:
Beyond Skin
Charmoné
Cri-de-coeur
KEEP
Macbeth Shoes
Matt and Nat
NEUAURA
Novacas
Olsen Haus
Ragazzi
TOMS
Vegetarian Shoes
Other Operation Topics:
Carrot Shoes will be open during regular mall shopping hours, which is 10am-9pm Monday to Friday and reduced hours on weekends.
To minimize consulting expenses, management will rely on a mentorship system.
The staff will consist of the three shareholders, who will divide up the management responsibilities, as well as eight part-time sales staff.
Major one-time cost is Leasehold Improvements: $140,000 (based on $100 sq/ft quoted from Deborah Green, GM at Polo Park)
Working Capital Examples: Rent/Utilities, Wages, Insurance
Funding is less than actual costs because revenue is projected to handle ongoing costs after the first month.
The line of credit will be used to establish a $40,000 starting cash balance and will be paid off in more profitable months
Less interest charges compared to a higher BDC loan to start off with
There is projected to be a small net income in the first year of operations because of good cost control, a niche market, and exclusivity of the business.
Carrot Shoes will be the only exclusive provider of many of the brands in the store.
Being located at Polo Park will also provide additional revenue due to increased foot traffic at the store.
Based on market survey results, Carrot Shoes calculated the average price than consumers are willing to pay to be $63 per pair of shoes. At this price, Carrot Shoes will need to sell 15,067 pairs of shoes in the first year to break even. The sales projection of $1,190,667 for the first year, which is the equivalent of 18,900 pairs of shoes, is 125% more than the breakeven point.
Breakeven should occur near the end of December 2011.
See Appendix O for calculations of Breakeven
Initially, there will be a significant outflow of cash to cover leasehold improvements, advertising, and other assets needed to start the business. All equity and loan money invested into the company are used during the first month of operations; after that, revenue and the line of credit will be relied on to sustain the cash flow. The retail industry goes through a seasonal pattern that fluctuates between high sales in the summer months and the Christmas season, to low sales in late winter and fall. A starting monthly cash balance of $40,000 is planned to cover purchases and any other unforeseen costs that arise throughout the month.
If sales were to decrease by 10 percent, the company would suffer a negative cash flow in April, January, and February of the first year because shoe sales would be less than the breakeven point. However, if sales increase by 10 percent the company will experience a positive cash flow except for the month of February. Due to the fact that this is a retail business, a negative cash flow during January and February is not that unusual.
