We are currently seeking additional funding from outside angel investors and business loans. We’ve already raised $62,000 through personal investments and a small community grant. 1.7 SOURCES & USE OF FUNDSīooming Boutique requires $282,000 to launch successfully. We will achieve month-to-month profitability within the first year. First year sales are projected to be $285,000, and we expect sales to surpass $525,000 by the end of year three. Our company will generate revenue from the retail sale of clothing and other merchandise. We project our annual profits to reach $380,000 by year three. Finally, we have determined our break-even point will equal no less than $15,500 in total monthly sales. Booming Boutique’s first-year income statement illustrates a profit margin of at least fifty-two percent, with a net income of $44,075 per month – after taxes. Our company will earn revenue from our customers’ purchases of our products. Jensen holds a BA in fashion merchandising from Colliers Fashion Institute in Miami, Florida. She’s worked with designers, wholesalers and retailers for roughly 20 years. Jensen’s experience lies in the fashion industry. She earned a BA degree in finance from Britannica College in Tampa, Florida. Mathews has worked ten years in the retail industry, including four years as the manager of an antique furniture shop. Robin Mathews and Joanna Jensen are co-owners and will co-manage Booming Boutique. Our goal is to keep our marketing budget to no more than 5% of our gross annual sales, and we will partner with local organizations such as the Chamber of Commerce and Downtown Merchants Association as often as possible. 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-mail campaign. 1.4 STRATEGY & IMPLEMENTATIONīooming Boutique recognizes the importance of marketing. We will initially seek customers locally, but will increase our reach as we build our brand and secure our image.
54 percent of the total population is women who have a median age of 48. In Pleasantville, the current population is just fewer than 40,000. There are roughly 75 million Baby Boomers, half of which are women. retail industry in 2007 (including food service and automotive) exceeded $4 trillion. We will solely focus on the our styles, colors and fits to flatter the lady Baby Boomer/ Meeting the needs of her figure will be our specialty. However, by closely following generational fashion trends as well as our own customers’ purchasing preferences, we will tailor our inventory to meet the specific needs of our clientele. The fashion and retail industry tends to be overly youth focused. In turn, we would hope to penetrate a sizable portion of the online retail market.
While our initial goal is to open one boutique, expansion plans include potentially franchising our retail store and/or building a well-recognized brand name. We will locate Booming Boutique in downtown Pleasantville, Florida, which is a popular retirement and tourist destination.
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