Boutique will be a fun and unique, locally owned clothing shop centered in the
heart the Governor Square Mall in Tallahassee, Florida. As Tallahassee is the
home of two well-known universities custom college attire will made upon
request. Products included in the store will be women and men clothing, women’s
accessories, kids clothing, FSU and FAMU collegiate clothing and shoes. What
sets them apart from the typical clothing store is that 90% of the clothing and
accessories are locally made by designers in Leon County. They will also offer
a wide range of clothing that is affordable to people of all classes. Beautiful
Boutiques target audience will consist of college students and locals, as well
as tourist and fans who visit for games that are locally held. The ideal
customer will be college students who are looking for custom colligate clothing
for games, or clothing for a special event. Competitors include other local
clothing stores, as well as major clothing stores in the Governor Square Mall.
Beautiful Boutique is so unique however, that it is hard to have such a direct
competition. There is no other clothing store like Beautiful Boutique.
Technological factors affecting the clothing market
would include the convenience of resources along with the demand and
production. Vendors may increase the prices of cotton clothing if they face
shortages of the raw material, which would make their manufacturers pay more.
When new types of clothing are introduced competitors can shift demands away
from older fashions. As a small business owner this would mean that discounting
certain pieces of clothing would be necessary in order to for manufactures to
produce news ones that would meet the needs of consumers.
Legal and Political Factors
Small business is majorly affected by the legal and
political aspect of the clothing industry. Some issues that may repeatedly
arise may be workers’ rights and child labor laws. This will affect the
business because union workers may go on strike several times and in doing so
will halt the production of clothing. Which will halt clothing from being sent
to me from vendors. From research activists who are not employed by the
factories sometimes picket vendors who violate these laws and that will
negatively affect small clothing businesses as well. Also, a trade restriction
against another company’s imports would force clothing suppliers to find
different vendors to supply merchandise.
Economic factors will have a positive and negative
impact on the clothing industry as well as a small clothing business. The
positive side is that during times where there is an economic boom, people tend
to have a more disposable income. Which in return they will purchase more clothing.
In return that will increase sales for vendors. However, when there is a
recession things will be affected negatively. Sales for certain clothing will
be quite lower since retailers will be stuck with large amount of clothing.
In Tallahassee, there are no direct competitors
offering our unique services or targeting the colligate crowd specifically. In the
Governor Square Mall, the shops that most likely will be competing with
Beautiful Boutique are:
LetsGet It Boutique, which targets a younger crowd
and specializes in clothes with natural fibers. They also carry accessories
from some of the locals as well.
KittyKoture, which also targets younger women but
they are known for chic clothing with a punk gothic edge.
There is also
a large store within 10 miles of Tallahassee. The store is comparable to a
Walmart which sells products a lower price.
Beautiful Boutique is a business-to-consumer marketing
company. Women are our target customers. However, we do understand that we will
likely appeal to some younger women with our marginal products (handbags,
scarves, etc.). Moreover, we expect a portion of our products to catch on with
the younger crowd. It’s important that we do not offer products that are
exclusive to a mature audience.
Experience and understanding of the clothing
Exclusive shopping knowledge with unique
Large and increasing consumer base
Experimental market in Tallahassee
While market is large, it is a functional
Wonderful shopping experience that leads to
Developing online Beautiful Boutique
Launch a Beautiful Boutique clothing line
Cost and efficiency of advertising to women
New clothing shops that may open in the future
The following is a list of business goals we aim to
achieve in our first five years of operations:
Complete modernizing, supplying, hiring and opening
Have a successful opening event.
Enter and increase knowledge in 60 percent our aimed
Attain a profit margin of 50 percent.
Form a concrete customer base and mailing list.
Produce a repeat and referral base sales.
Become a lucrative business with growth potential.
Create a concrete standing as quality clothing business.
Our first key milestones will be acquiring funds
and setting up our business. This is our key focus right now. In five years, we
hope to have founded our clothing business within the society and within our
industry. Additionally, as co-owners, we would like to see the development of
our store with an growth in productivity, further understanding of the general
market with online sales and, under the right set of conditions, the opening of
franchise Beautiful Boutiques in planned locations.