Business Plan for Mustard Boutique

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Executive Summary

Overview
Mustard Boutique is an upscale women’s clothing boutique that will open in June this year. Mustard means “If you have faith the size of a mustard seed, you will say to this mountain, ‘Move from here to there,’ and it will move; and nothing will be impossible for you.” Mustard boutique selections and exclusive personal style services, which include a detailed Style Assessment, will ensure that our customers are well dressed. Mustard is a woman-owned business organised as a Sole Proprietorship.

Clothing for stylish women
Mustard will carry Ready-to-Wear (RTW) designer and casual/contemporary apparel and accessories for women, and will be the exclusive Korean style.

Unique & innovative
Boutique will provide services such as Style Assessments, alterations and personal shopping. There are stylist who are trained within the image industry will be available to customers on a daily basis is to help women develop their personal styles will enhance our reputation as a truly unique boutique.

Getting the word out
Mustard will generate awareness and sales by utilizing PR tactics and the referral networks or personal stylist. Mustard will meet our customers where they are, focusing on how women approach shopping.

Management
With over 12 years experience in marketing and retail, owner Teo Wen Gin has gathered the expertise to complement and grow the business.

Finance

Start-up costs include inventory for the first month, and are estimated at RM132,700 of which the owner will inject 31.4%. Current owner investments are documented at approximately RM41,700, of which RM12,700 is in savings and checking. An additional injection of approximately RM8.700 will occur by June 27 of Year 1.

Annual gross sales are projected to grow from RM513,000 in the first year to over RM600,000 by Year 3, with approximately 10% from customer special orders. Net profits are expected at approximately 6% through 2007, with reinvestment of 5% for growth initiatives.

Mustard will hold Cost of Goods Sold at roughly 39% of sales revenues; we intend to maintain this approximately 61% markup throughout the next five years.

1.1 Mission

a) To provide women with a boutique that offers a comfortable and approachable environment. b) To showcase quality, well-constructed fashions from prominent and cutting-edge designers. c) To offer a variety of beautiful and high-end fashion accessories. d) To help women learn what clothing and styles go best with their unique personalities. e) To generate buzz and sales through top-notch exclusive services.

1.2 Keys to Success

a) Having a good location in a high-shopping area.
b) Quality product and good relationships with vendors.
c) Outstanding customer service.

1.3 Objectives

a) To turn inventory five times and generate RM800 in sales per square foot. b) To maintain profit margins at 15-20% through close attention to expenses and cost of goods sold. c) To drive awareness and build sales through mentions in both local print and the nation’s top fashion magazines.

Company Summary

Mustard Boutique is an upscale women’s clothing boutique that intends to open at Kota Damansara in June. Mustard names found from the bible book. It carries beautiful designer labels for professional women. Mustard clothing selections and exclusive personal style services, which include a detailed stylist that features nine different style personalities, will ensure that our customers are always well dressed.

2.1 Start-up Summary

This business plan will be used for three purposes:
a) To map out all the necessary components to create a successful and well-run boutique. b) To provide management with a blueprint to follow.
c) To secure financing through private institutions and investors.

The Start-up Table which follows details the Start-up Requirements, including Start-up Inventory and Long-term Assets in the form of Fixtures and POS Equipment....
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