pom boutique business plan

Company Description• Introduction• Woman’s clothing and accessories boutique

in Nassau, Bahamas• Women ages 15-30, professional with

disposable income.• Mission Statement• “To make shopping a pleasant, yet

inexpensive experience for Bahamian women ages 15-30, while providing their lives with a sense of confidence and beauty.”

• Tagline• “Fabulous is understatement”

Management Team

Management TeamFounders

Val Butler• Miami, Florida• 2 years retail experience• 4+ years in customer service• Co-founder of Port of Miami Boutique (60% ownership)

Amber Rolle• Nassau, Bahamas• 4 years retail experience• Degree in International Business• Co-founder of Port of Miami Boutique (40% ownership)

Ownership 50%/50%

POM Organization Structure

• Total Fulltime Employees – 2

• Total Part-time Employees – 8

Staff Arrangement for Store Hours

1 Manager and/or Assistant Manager

2 POM Associates

Founder(s)/CEO

POM Manager

Products

Overview• Latest trends at the best prices

• Dresses, jeans, tops, accessories, swimwear, personal styling services, etc.

• Cater to the Bahamian women ages 15-30

• Located along Bay Street in Nassau, Bahamas (Island of Providence)

• Unique and exclusive selection of merchandise (2 per size– 2S, 2M, 2L)

• Delay in store opening • Overstocked inventory • Shortage of inventory • High importing costs • Decreased in sales • Shrinkage • Competition

Challenges and Risks

Marketing Plan

Year 1 -Overview• Raise awareness.• Position ourselves in the market.• Loyal clientele.• Engage the community.• Take advantage of word of mouth, social media

PR.• Reach our goal of $162,235 in sales for the first.• Acquire a database of clients and prospects of at

least 5,000 people.

PositioningPort of Miami Boutique provides with unique and fashionable yet, affordable clothing for women in Nassau, Bahamas.

Our brand personality is:• Stylish• Innovative• Exclusive• Feminine• Fun• Approachable & sophisticated.

Points of Differentiation• Only store with Miami-style fashion.• Unique styles currently not found in the island.• Strong competitive advantage on quality and pricing• Committed to make a positive impact on our

community through free seminars.• Weekly online updates

Product Attribute Map

High

HighLow

Style + Quality

PRICE

Christian Dior

The Straw Market

POM Boutique

Coles of Nassau

Bold & Beautiful

b

Bahama Hand Prints

Pricing Strategy

• Value based strategy• Margins from a 25% to 100%. • Clothing may have an average of 50% profit margin.• Jewelry could enjoy up to a 150% margin.• We will research to obtain merchandise that is fashionable yet

affordable so we can translate these benefits to our clients.

Promotional Mix

• Industry related trade shows.• Unique visual displays in storefront on a weekly basis.• Free 2-hour beauty and fashion seminars held the last Friday of every

month at our boutique with guest speakers.• PR in the local community featuring our free seminars and

testimonials.• Facebook and Twitter updates featuring new product arrivals among

other industry related information.• Social media contests to periodically feature our Facebook followers

as models for new arrivals.

Promotional Mix (cont)

• Direct mail – seasonal postcards• POM Boutique Web Site.• Ads on targeted publications such as University

magazines.• Loyalty program featuring discounts for returning

clients.• Merchandise or possible seminar sponsors’

giveaways to loyal customers. (free sample kits, etc)

Financials

Sales Forecast

Sales forecast per month

Monthly Sales Forecast

Break Even Analysis

Budget

Last but not least…

Year 2 website maintenance costs:Ongoing costs starting year 2:

• Domain name and Hosting - $130 yearly with Godaddy.com• Search Engine Optimization - $1200 • Site Design Changes - $500 per year

I LOVE POM