Unique Company

Executive Summary

Unique Clothing Store will be start-up retail men's, women's, and children's clothing store specializing in unique clothing from other parts of the U.S. This business will be a traditional hand made clothing store which will be run by the owners, Nancy Seymour and Joanne Arbour, as a Partnership. It is located at South Florida. This store will also have a local market and will serve both youth and adults. Our intent is to provide the community with unique clothing they would normally purchase outside of the state.

The business will be financed with $18,299 of the owners' money plus $35,444 from a business loan. Starting costs are $53,743. Sales are estimated at $187, 500 per year by the first year. A positive cash flow will be produced at the end of the first year.

There are no other urban wear stores located for this store.

Market Segmentation

According to the Poland Chamber of Commerce, there are approximately 150,000 males and 165,000 females in Poland, totalling 315,000 people. Of those 315,000 people, 186,000 are between the ages of 18 and 54 years of age. Unique's target market is men and women between the ages of 18 and 54 with a household income of $15,000 or more.

Market Analysis

Potential Customers

Growth

2005

2006

2007

2008

2009

CAGR

Women and Girls

5%

407,000

427,350

448,718

471,154

494,712

5.00%

Men and Boys

5%

407,000

427,350

448,718

471,154

494,712

5.00%

Other

0%

0

0

0

0

0

0.00%

Total

5.00%

814,000

854,700

897,436

942,308

989,424

5.00%

Target Market and Program Strategies

Near the business thoroughfare is a newly built-up subdivision under development, where houses are priced at $100,000 and above. Also in the area is the campus of Central State University, and downtown Poland, all which serve Unique's potential customers. Unique's customers are employed men and women, between the ages of 18 to 54 years old with a household medium income of $32,000 and above.

We will use flyers and other literature to act as our envoy. Here are some of our marketing programs and strategies:

Designing good ad copy to reach our customers.

Choose the proper publication

Have a goal for our advertisement

Involve the audience

Inform the buyer

Headline and illustrations grab attention

Give them something

Always be specific

Make our offer a good one

Be creative in our media choices—such as unusual avenues like—fax newsletters, mall kiosks, fax-on-demand, publicity stunts, online marketing, anything unusual to reach our target market

Small classified ads

Track our results

Keep all our customers/prospects in a database and stay in touch with them regularly

Gradually increase the size of our ad and tract the results

Advertise regularly and consistently

Evaluate our efforts

Customer loyalty is much more important to Unique than customer satisfaction. We will serve our customers so well they will brag about Unique to others (Kotler, 351). This will keep them loyal, and also provide a continual flow of customers.

Self-Evaluation Program asks the following questions:

Are Unique's products the best they can be?

Can we clearly describe our business in 25 words or less? Can our customers describe our business in 25 words or less?

Do our customers know about all of our products and services?

Do we have a strong marketing plan that we follow on a consistent basis?

What if our marketing plans work? Will we be able to handle the increased volume of sales without harming our customers or the ...