pom boutique business plan
DESCRIPTION
Pom boutique business planTRANSCRIPT
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