Business Plan For : Clothing Boutique

Prepared By: Jazmyn Tyree

( 00248349 )

Presented To:
Dr. Felix Afolabi
Introduction To Business For Non-Business Majors
(BUAD 200.W.02)
Earl G. Graves School of Business and Management
Morgan State University
Table Of Contents:

I. Introduction 3

II. General Discussion

a. Executive Summary 3

b. Company Description 3

c. Market Analysis 4

d. Organization and Management 4

e. Service / Product Line 5

f. Marketing and Sales 5

g. Funding Request 6

h. Financial Projections 6

III. Conclusion 7

IV. Reference Page 8

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Introduction :

The purpose of this project is to aid students in recognizing the importance of the necessary steps
involved in managing, planning, and operating a business. This project specifically focuses on the
planning aspect of running a business. Planning establishes goals and also outlines what is needed
to do so. This project also helps students challenge themselves by recognizing the hardships
Involved.

Executive Summary :

I have developed an extensive business plan for my franchise. The services of “Mommy
and Me” will create matching clothes for mothers and their children. “Mommy and Me”
is the clothing boutique of a lifetime which works hard to keep families all over happy
and stylish. In the following document I will share the core marketing elements of our
clothing boutique through a thorough description of our target market, competition
analysis, and discussion of our offered service and pricing. First we begin with discussing
the characteristics that will make up my target group, followed by a distinguished
analysis of our target market. Our target market includes families who consist of a mother
who wears a size 00-16 and a child from sizes newborn-16(husky). Such consumers
include families going on vacation, doing a photoshoot, birthday party, family reunions,
and even school events. As an unique clothing boutique we will relieve the hassle of
looking for adorable family outfits for special events. In addition, our exceptional
customer service can benefit our local malls and shopping centers by creating a one stop
for mothers and their children. Nation-wide this business will flourish as one of the only
clothing boutiques to offer matching attire in a plethora of sizes satisfying both the
mother and the child's needs.

Company Description:
1. Intends to create 20+ jobs per location
2. Products for age group 1month - 40 years old
3. Matching clothes for mother and children
Mommy and Me Boutique is a start-up retail establishment that will sell fashionable
clothing to women who are mothers as well as their children. We will locate Mommy and
Me Boutique in downtown Soho, New York, which is a popular fashion district and
tourist destination.Although our initial aim is to open one store, expansion plans
potentially involve franchising our retail store and/or developing a well-recognized brand
name. We will in essence, expect to reach a large portion of the retail industry online.

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Market Analysis:

The target market will be parents of children with ages ranging from 0 months to
twelve years of age. These families will be more likely to shop at our boutique due
to the fact that they can have outfits for everyone that are available to all members
in the family. This company can relieve the stress of having to shop at multiple
stores for pieces that are similar in style but are not a mess. As well as, offer
customers a cheaper and more convenient option than paying/ordering custom
made clothes. There is no much competition for a boutique such as this, the
biggest threat there is... is Fashion Nova. Fashion Nova recently released a girls
department to their website which is made of child versions of the adult outfits
they sell.

Organization and Management:

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Service/ Product Line:

The fashion and retail industries tend to be disproportionately focused on teenagers.

However by closely following popular fashion patterns amongst mothers and their
children on social media as well as the buying desires of our own clients, we can tailor
our inventory to suit our clientele's unique needs. We will concentrate exclusively on our
styles, colors and suits to flatter the Mother, and child appropriate yet fashionable clothes
for their babies or children. Our specialty will be meeting the needs of her figure and the
age of their children.

Marketing and Sales:

The reported total sales in November for retail and food services for the month of
November alone is estimated to be about $546.5 Billion dollars.4.1% increase from the
overall retail sales of November in 2019. There are roughly 28 million mothers in the
United States alone. However there are about 1.7 million parents / guardians in New
York alone. With the average cost of living median income being $680,500 in New York
this is a state with a lot of well paid people who will be willing to spend their hard earned
money with a company that works just as hard to serve every member of the family.

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Funding Request:

Expenses Set Cost Quantity Total

Legal ( for start up ) $1,600 1 1600

Logo $50 2 100

Wholesale Childrens $1.00 500 500

Shirts

Wholesale Childrens $1.50 500 750

pants

Wholesale Womens $2.00 500 1000

Shirts

Wholesale Womens $1.75 500 875

Pants

Display Fixtures $10 40 400

TV Advertisement $1800 1 1800

Social Media $14,000 1 14000

Manager

Shopping Bags $0.05 2000 100

Website 100 1 100

Total Price: $22,485.00

Financial Predictions :

Our business will receive revenue from sales of our goods by our customers. The
first-year income statement by Booming Boutique reveals a gross margin of at least
fifty-two percent, with a net income after taxes of $44,075 per month. The retail selling
of clothing and other products will generate revenue from our business. Sales for the first
year are expected to be $285,000, and by the end of year three, we expect sales to reach
$525,000. We'll be reaching profitability month-to-month.

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Conclusion:

All in all, "Mommy and Me Boutique" Competition is highly varying in the

fashion industry. In such an environment, businesses that have the innovation and
imagination to satisfy the demands of consumers for fashion in a market dominated by
economic conditions, demographic patterns, and pricing will be awarded the best
investment opportunities. From a "buy now, wear later" customer to a "buy now, wear
now" consumer, the market has moved. Additionally, the management of "Mommy and
Me Boutique" would carefully consider the market, potential customer base, and its
capacity to boost its average revenue and capture 10% of the branded urban apparel
market. In local, regional, global, and international markets, this boutique has the
potential to become a highly considered resource. Because of the aggressive marketing
strategy of the company, establishing the company as a "unique organization in its
business, careful production of its products coupled with strategic collaborations with
some of the retail clothing outlets of the industry.​ ​For "Mommy and Me" It needs to
secure initial capital to gain status as an industry leader. This money will be used for
start-up expenses, the establishment of a reputable storefront and the further growth of
business, commercial infrastructure, internal processes, product development and
comprehensive marketing and geographical positioning. For several years to come,
“Mommy and Me” should be able to achieve operational performance to ensure that the
organization is able to attain its funding requirements.

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Reference Page:

Census
https://www.census.gov/retail/marts/www/marts_current.p
df

NYC Demographic Cenus

https://www.cccnewyork.org/blog/single-parent-households
-in-nyc/

Avg Boutique Cost

https://www.shopkeep.com/blog/how-much-does-it-cost-to-
start-a-retail-store#:~:text=According%20to%20vlogger%
20and%20boutique,%2C%20utilities%2C%20and%20lice
nsing%20fees​.