This document provides guidance for developing a business plan for a new retail store. It outlines key areas to consider such as the type of store, target customers, competition, store layout and design. Specifically, it recommends determining the type of retail store, its location, target customer demographics and psychographics to help design the store and marketing. Store layout should include a basic floor plan sketch and details around atmosphere, fixtures, music and merchandise display to create the right shopping experience.

1. GETTING STARTED

2. GETTING STARTED
You should have a clear understanding
of what type of business you will operate
before you start serving customers. For
this project, the type of retail store you
will operate and the location are a
couple of important business
components.

3. TYPE OF STORE  What type of store will you open?
o Traditional retail store, discount, franchise or
boutique etc.
o Home décor, clothing, sports equipment,
hair salon, etc.
5 points

4. Store Location & History
• Where is the store going to be located?
o City and province of company headquarters
o Locations of stores (if multiple locations)
o Type of shopping centre (strip mall, indoor
mall, etc.) where the store(s) is located and
why.
o Why is the location important?
• Why was the company started and how
did it begin? Be specific.
10 points

5. CUSTOMERS & COMPETITION

6. Target Customer
Customer segments define the different groups of people
your business wants to reach and serve. Customers
represent the heart of your business model.
Who are the ideal customers for your business? Who do you
see walking into your store? Who do you see buying what
you have to sell?
Identifying your target customers will help in designing store
layout, merchandising, creating an overall atmosphere,
combining the best product / service mix, understanding
the best promotional methods to reach your customer etc.
It really all starts here!
20 points

7. Customer
Segmentation
DEMOGRAPHICS
PSYCHOGRAPHICS
List the demographics and psychographics of the ideal
customer for your business. Use point form or paragraphs, or
create a customer persona. (Example to follow.)
Demographic information is about facts. It might include age,
gender, race, ethnicity, marital status, income, education,
employment status, occupation etc. Not all are relevant to your
customer. Pick those that are. Does it matter to your business if
your customer is male or female, or has a university education?
Demographics answer WHO your customer is.
Psychographic information is about what your customer values.
might include values, attitudes, beliefs and opinions, interests
and hobbies, social media use, history-lover, adventure seeker,
ecofriendly etc. Psychographics answer WHY they are or would
be your customer.

8. The world is a
book. Those who
do not travel, read
only one page.
Melissa G. is an active 60 yr old mother and grandmother. She is a
retired art teacher living in a fashionable suburb of Saskatoon with her
husband of 35 yrs. They are empty-nesters with a comfortable, but not
extravagant income.
Melissa G. is an avid traveller and loves visiting local museums, art
galleries and vineyards. She is passionate about unique art, jewellery
and clothing, and enjoys seeing how things are made. Melissa G.
prefers purchasing locally made items when she travels, but also when
shopping in her own community. Supporting the local economy,
wherever she is, is important to her.
Melissa G. is technologically challenged and prefers to interact and
make purchases in person. Atmosphere, design and an overall
positive “vibe” are important to her when deciding where to shop.
Customer Persona Example
Melissa G.

9. COMPETITION
 Who do you consider your main competitors, and why?
 What are the unique qualities that set your business apart from the
competition?
 What are all the benefits the product, service or experience that you offer
bring to your customers?
 Why are these benefits valuable to your customers?
10 points

10. EMPLOYEES
 Total number of employees
 How many employees per shift?
o This will depend on the atmosphere
you are trying to create as well as
the physical size of the business.
 What employee characteristics and
personalities are important to create
the atmosphere and deliver the
service you want?
10 points

11. STORE LAYOUT & DESIGN

12. LOGO
 Create a logo and slogan for your new
business.
o Include the name for your store.
o Develop a logo for your company.
o What will your sign look like?
5 points

13. BASIC FLOOR PLAN
 Provide a sketch of the basic
floor plan of your store, including
aisles, merchandise fixtures,
register area, dressing rooms,
bathroom etc.
20 points

14. ATMOSPHERE
 Provide pictures of each item if possible
o Cut and paste or draw them
 Merchandise fixtures (be specific)
 Type of background music
 Furnishings and colours
 How will you display your merchandise in the store?
 Types of bags (provide an example of what your typical
shopping bag will look like)
 Other items that enhance the store’s atmosphere and
enhance the shopping experience for the customer
 Perhaps include a branding board
15 points