Business Plan for G3 Fashion House
1.0 EXECUTIVE SUMMARY
G 3 Fashion House is an urban men and women’s clothing retail establishment that will sell and is currently selling fashionable clothing for both men and women with our prime product being Urban branded clothing. G3 fashion House is currently located at shop 29 Town Square mall Windhoek, Namibia which is a popular youth shopping destination. While our initial goal is to open two boutiques in respect to the one we intend to open in your advertised space to Let, expansion plans include potentially franchising our retail store and/or building a well-recognized brand name. In turn, we would hope to penetrate a sizable portion of the online retail market.
1.2 PRODUCTS & SERVICES
The fashion and retail industry tends to be overly youth focused which is not entirely bad but has the disadvantage of resulting in monotonous trends. However, by closely following generational fashion trends as well as our own customers' purchasing preferences, we design our inventory to meet the broad needs of our clientele. We will solely focus on western yet locally appreciated styles, colors and brands to meet the ever vibrant and young aged ever growing market which has an un satiable taste for fashion.
1.3 MARKET ANALYSIS. The median income is N$150,500 of our target market annually we carefully structure our clothing taste and price structure around this target market accommodating they’re shopping tendencies and financial strength with acute seasonal outfits and the most reasonable pricing . We will initially seek customers locally, but will increase our reach as we build our brand and secure our image.
1.4 STRATEGY & IMPLEMENTATION
Geez Three Trading which is the mother body of G 3 Fashion House recognizes the importance of marketing. And to that end, we plan to promote our retail business with an ambitious, targeted marketing campaign, which will include a grand opening event, local media coverage, print advertising and a direct-sms campaign. Our goal is to keep our marketing budget to no less than 5% of our gross annual sales, and we will continue to partner with local entertainment enterprises such as the media through many radio advertisements and promotions we as well support the local music industry as we have on many occasions provided clothing items for artists to shoot music videos and allowed them to shoot videos in our store.
Mr. Khali George Mtshakazana owns Geez Three Trading and will co-manage as he currently does at G3 fashion house. George has worked for six years in the retail industry, including seven years in the import of motor vehicle industry. His is an entrepreneur of great talent with sound business ethic and vast expertise. Since George’s entry into the clothing industry he has always demonstrated impeccable business experience and his passion lies in the fashion industry.
1.6 FINANCIAL PLAN
Our company will earn revenue from our customers' purchases of our products. G3 Fashion House annual -year income statement illustrates a profit margin of at least sixty percent. We have firmly determined our break-even point will equal no less than seventy percent profit margin after deductions of our monthly obligations against total monthly sales. We project our annual profits to increase by at least seven percent annually. Our company will generate revenue from the retail sale of clothing and other merchandise.
1.7 SOURCES & USE OF FUNDS
The G 3 Fashion House outlet we intend to open in the proposed premises requires N$300,000 to launch successfully. We have these funds securely available and are financially able to cover any un for seen costs that may arise in regards to renovations, inventory and operating expenses such as rent, utilities and payroll. Further, our initial investment will also be used to purchase retail equipment and inventory software - all of which will produce future benefits for the...
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