speakeasy
DESCRIPTION
final projectTRANSCRIPT
Amanda Stokes
Mission Statement•Speakeasy aims to provide a shopping experience that one could only imagine. •When a customer steps through our doors we wish for them to feel as if they have just stepped out of a time machine, and they are now living in the roaring twenties. •We do our best to offer only the most perfect contemporary cocktail dresses that any women would feel fabulous in. •We believe every woman deserves to feel like a glamorous, classic women of the 1920’s in a modern 2010 way.
LegendA. Double DoorsB. Open Back WindowsC. Naythons Wrap counter - whiteD. Hang railE. West elm Tripod TableF. Economy 3 tier display table – whiteG. West Elm Jet ChairH. West Elm Faceted Mirror side tableI. West elm scoop back chairJ. Anthroplogie Bowmont mirrorK. Single Bar Adjustable rolling RackL. Vistamation Metal ShelvingM. IKEA Billy Bookcase - beechN. IKEA Galant Conference table – BeechO. ToiletP. SinkQ. Vinyl TilingR. Harwood FlooringS. IKEA Gregor Swivel ChairT. CarpetU. CurtainV. West Elm Antique tiled floor mirror W. Anthroplogie Flourish Hook
Floor Plan
Facade
Color scheme/flooring
Product and Prices
French Connection $248
Rachel Rachel Roy $109
BCBG Generation $118
Sam Edelman $100Dolce Vita $148
House of Harlow 1960 $145
Kenneth Jay Lane $150Tracy Reese $168Tocca $68
Speakeasy provides customers with cocktail and contemporary dresses for the perfect night out on the town.
Speakeasy also carries shoes, jewelry and a small amount of beauty products.
All prices range from $50-$300
PoliciesServices
Services and PoliciesStore HoursMonday -10:00am - 8:00pmTuesday- 10:00am - 8:00pmWednesday- 10:00am - 8:00pmThursday- 10:00am - 8:00pmFriday- 10:00am - 8:00pmSaturday- 10:00am - 8:00pmSunday- 11:00am – 7:00pm
Forms of Payment Accepted:•Visa•Master Card•Cash
Return and Exchange Policies:•Items returnable 30 days after purchase.•Full reimbursement with receipt.•Exchanges allowed up to 14 days after purchase
Gift wrap available upon request
Email blast
Speakeasy’s customer is a trendy yet chic woman ranging in age from twenty to thirty.
She lives in or very close to the city.
She is either living on her own or recently married.
Coming from an upper middle class to middle class family she enjoys the finer things in life when she can afford them.
Income- $85,000 and up
Target Customer
•Speakeasy is located at 1845 Walnut Street Philadelphia Pa which is located in the center of a major central business district.
The store sits directly across the street from Rittenhouse Square Park and is also surrounded by many well known stores and restaurants of Walnut St.
The address is located around the corner from Anthropologie a store that likely customers of Speakeasy would shop at as well. Located right next door to the Speakeasy location is Barneys Co-op. Barneys does carry evening wear although at a much higher price point. Located near upscale restaurants such as Parc and Rouge.
Location
Competitors and why?•South Moon Under- Located close to Speakeasy and carries similar dress styles around the same price point.
•BCBG, Max Studio, Kenneth Cole, Club Monaco-Located on the same block as Speakeasy, and dresses at each of these stores are similar in style and price.
Legal Form of Ownership
Advantages
•Owners of the LLC, called "members," are protected from some or all liability for acts and debts of the LLC
•Limited liability companies can select varying forms of distribution of profits.
•Can be set up with just one owner involved.
•No double taxation
Disadvantages
•Earnings of most members of an LLC are generally subject to self-employment tax
•A limited liability company which is treated as a partnership cannot take advantage of incentive stock options
•Corporations can live forever, whereas a LLC is dissolved when a member dies or undergoes bankruptcy.
Limited Liability CompanyCost: $424 total - includes Pennsylvania filing fees and
cost of all services
Vendor ListFrench Connection
Tracy ReeseRachel Roy
BCBG GenerationSam Edelman
Dolce VitaHouse of Harlow 1960
Kenneth Jay LaneTocca
Yearly SalesFirst Years Sales Estimate
Average Weekday (Monday - Friday)Time Of Day #Of Transactions * Average Sale = Total Sales10-12 1 $175 = $17512-2 3 $175 = $5252-8 2 $175 $350
Total $1,050#of transactions * Average Sale = Total Sales
Average SaturdayTime Of Day #Of Transactions * Average Sale = Total Sales10-12 2 $180 = $36012-3 4 $180 = $7203-8 3 $180 $540
Total $1,620
Average SundayTime Of Day #Of Transactions * Average Sale = Total Sales11-7 3 $180 = $540
$0Total $540
Average Weekday Sales $5,250Average Saturday Sales $1,620Average Sunday Sales $540Total Weekly Sales $7,410
Total Yearly Sales $385,320
Month February March April May June July Total
4 5 4 4 5 4
Sales $ $34,679 $30,826 $34,679 $38,532 $42,385 $50,092 $231,192
Sales % 9.0% 8.0% 9.0% 10.0% 11.0% 13.0% 60.0%
Month August September October November December January Total
4 5 4 4 5 4
Sales $ $23,119 $19,266 $23,119 $34,679 $42,385 $11,560 $154,128
Sales % 6.0% 5.0% 6.0% 9.0% 11.0% 3.0% 40.0%
Total First Year Sales 385,320
Yearly sales per month
Monthly Sales Graph
0
10,000
20,000
30,000
40,000
50,000
60,000
Sales
January
Febuary
March
April
May
June
July
August
September
October
November
December
Organizational Chart
Schedule
Employees Monday Tuesday Wednesday Thursday Friday Saturday Sunday Total Hours
Owner 10-8 10-8 10-8 Off 10-8 Off 11-7 48
Full Time 10-4 10-6 0ff 10-8 10-4 10-8 Off 40
Part Time 10-8 0ff 4-8 4-8 0ff 6-8 11-7 28
Store Hours 10-8 10-8 10-8 10-8 10-8 10-8 11-7
Salaries
EmployeeTotal Hourly Weekly YearlyHours Rate Rate Rate
Full Time 40 $0.00 $30,000Part Time 28 $9.00 $252.00 $13,104
Salaries are 11% of Sales $43,104
Employee Handbook
•Open Door Policy •Termination of Employment •Attendance & Punctuality •Pay Periods/Pay Day •Overtime •Scheduling •Employee Discounts •Personal Leave of Absence •Sick Days/Personal Convenience Days
•Introduction•Customer Care•Loss Prevention Overview•Telephones•Safety•Privileges and Benefits•Cobra•Jury Duty•Code of Conduct
Employer Taxes
Employee
Yearly FICA FUTA SUTA Total
Wages 7.65% 0.8% 3.1% Yearly Taxes
Full Time $30,000 $2,295.00 $56.00 $245.00 $2,596.00
Part Time $13,104 $1,002.46 $56.00 $245.00 $1,303.46
$0.00 $0.00
TOTAL $3,899.46
Employee Yearly FIT FICA SIT CIT SDI Total NetWages see tab 7.65% 2.80% 4.20% 0.50% Taxes Wages
Full Time 30,000 4,500 2,295 840 1,260 150 9045 20,955
Part Time 13,104 1,966 1,002 367 550 65 3950 9,154
Employee Payroll Taxes
SecurityADT Security System
Video Surveillance and Intrusion DetectionInstallation Fee- $1,399
Monthly Fee- $59.99
Two Pillar Security Tower$3,500
Security Tags1,000 tags/1,000 pins
$200 a case
Insurance
Hartford InsuranceBusiness Owners Policy
General Liability and Property Coverage12 Month Premium
Cost- $2,364
Grand Opening Event
Come joins speakeasy for our grand openingapril 5th at 6pm
1845 Walnut st philadelphia pa20% off all merChandise in the store for the night
speakeasy
Advertising Plan and BudgetADVERTISING BUDGET Total Advertising Budget 19,266
JAN FEB MAR APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC TotalsNEWSPAPER 0What size?Which one?
MAGAZINE 7,140 7,140 14280What size? Quarter Page
Which one? Phiadelphia Style 0
Brochure 0How many?
DIRECT MAIL 0Company used? Vista PrintMail list price? 280 280 280How many? 1,000
ARTWORK 0(Graphic designer)
POSTAGE 260 260 260 16680
(If not included in direct mail price)TOTALS 0 0 540 0 0 7140 540 0 0 540 0 7140 15900
speakeasy
1845 Walnut st philadelphia pa
don’t keep
this a seCret
Magazine Ad
SIX MONTH MERCHANDISE PLAN
MONTH AUG. SEPT. OCT. NOV. DEC. JAN. TOTAL
SALES 23,119 19,266 23,119 34,679 42,385 11,650 154218
BOM STOCK 57,797 48,165 57,797 86,697 105,962 29,125 385543
MARK DOWN 3,467 2,890 3,467 5,202 6,357 1,747 23130
EOM STOCK 125,230 57,797 86,697 105,962 29,125 86,697 491508
RETAIL PURCHASES 94,019 31,788 55,486 59,146 -28,095 70,969 283,312
COST OF MERCHANDISE 44,189 14,935 7,968 5,161 13,854 42,409 128516
MONTH FEB MARCH APRIL MAY JUNE JULY TOTAL
SALES 34,679 30,826 34,679 38,532 42,385 50,092 231193
BOM STOCK 86,697 77,065 86,697 96,330 105,962 125,230 577981
MARK DOWN 5,202 4,624 5,202 5,778 6,357 7,514 34677
EOM STOCK 77,065 86,687 96,330 105,962 125,230 57,797 549,071
RETAIL PURCHASES 30,249 45,072 49,514 53,942 68,010 -9,827 236,960
COST OF MERCHANDISE 14,217 21,183 23,272 25,352 31,964 4,618 120606
AVERAGE STOCK(1ST) 67462.8571AVERAGE STOCK (2ND) 90825.4286TURNOVER (1ST) 2.285969TURNOVER (2ND) 2.54546556Initial mark up % 0.53Markdown % 0.15Maintained mark up %Alteration %Cash Discount %Gross Margin %Operating expense %Net Profit %
Six Month Plan
OPENING STOCK PLAN
Month you will open= april 34,679
Classification Percent of stock Dollar investment Average Units
Major Sub-class Major Sub-class Major Sub-class Retail
Womens 75% $26,009
Dresses Cocktail 50% $13,004 $200 65
Contemporary 50% $13,004 $140 92
100%
Accessories Shoes 25% 40% $8,669 $3,467 $124 27
Jewlery 40% $3,467 $98 35
Perfume 20% $1,739 $68 25
100%
100% $34,678
Opening Stock
Net Profit or (Loss)
Dollars Percent
Net Sales $385,320 100.00%
Cost of Merchandise $249,122 64.00%
Gross Margin $136,198 35.00%
Operating Expenses $323,922 84.00%
Net Profit Before Taxes -$187,724 -48.00%
Profit and Loss
Cash FlowCash Flow ChartSummary Pre-Opening April May June July August SeptemberCash on Hand $158,105 $126,296 $111,812 $99,001 $75,891 $94,834 $47,873(+) Total Receipts $0 $34,679 $38,532 $42,385 $50,092 $23,119 $19,266(-) Total Disbursements $31,809 $49,163 $51,343 $65,495 $31,149 $70,080 $40,926(=) Ending Balance $126,296 $111,812 $99,001 $75,891 $94,834 $47,873 $26,213Cash flow (6-7) -$31,809 -$14,484 -$12,811 -$23,110 $18,943 -$46,961 -$21,660
Receipts (sales) $34,679 $38,532 $42,385 $50,092 $23,119 $19,266Cash Sales % $0 $0 $0 $0 $0 $0Credit Card Sales % $0 $0 $0 $0 $0 $0
DisbursementsOwner Salary $0 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000Other Salaries $0 $3,592 $3,592 $3,592 $3,592 $3,592 $3,592Rent $14,805 $14,805 $14,805 $14,805 $14,805 $14,805 $14,805Advertising $0 $0 $0 $7,140 $540 $0 $0Auto(company car) $0 $0 $0 $0 $0 $0 $0Supplies $150 $150 $150 $150 $150 $150 $150Telephone & Fax $75 $75 $75 $75 $75 $75 $75Utilities $300 $300 $300 $300 $300 $300 $300Insurance $197 $197 $197 $197 $197 $197 $197Taxes(employer) $0 $325 $325 $325 $325 $325 $325Loan Payment $3,460 $3,460 $3,460 $3,460 $3,460 $3,460 $3,460Maintenance $0 $0 $0 $0 $0 $0 $0Accountant $125 $125 $125 $125 $125 $125 $125Credit Card Expense $0 $602 $602 $602 $602 $602 $602Monthly security Fee $260 $260 $260 $260 $260 $260 $260Travel Expenses $0 $0 $0 $500 $0 $0 $0Fixtures & Equipment $7,715Construction Fit-Out $2,952Starting Inventory $0Utility Deposits $300Licenses $250Pre-Opening Advertising $1,120Purchases at Cost $0 $23,272 $25,352 $31,964 $4,618 $44,189 $14,935Petty Cash $100 $100 $100 $100
Summary October November December January Febuary March TotalCash on Hand $26,213 $15,473 $18,500 $14,000 -$42,840 -$48,269 $696,889(+) Total Receipts $23,119 $34,679 $42,385 $11,560 $34,679 $30,826 $385,321(-) Total Disbursements $33,859 $31,652 $46,885 $68,400 $40,108 $47,714 $608,583(=) Ending Balance $15,473 $18,500 $14,000 -$42,840 -$48,269 -$65,157 $473,627Cash flow (6-7) -$10,740 $3,027 -$4,500 -$56,840 -$5,429 -$16,888 -$223,262
Receipts $23,119 $34,679 $42,385 $11,560 $34,679 $30,826 $385,321Cash Sales % $0 $0 $0 $0 $0 $0 $0Credit Card Sales % $0 $0 $0 $0 $0 $0 $0
DisbursementsOwner Salary $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000Other Salaries & Benefits $3,592 $3,592 $3,592 $3,592 $3,592 $3,592 $43,104Rent $14,805 $14,805 $14,805 $14,805 $14,805 $14,805 $192,465Advertising $0 $0 $7,140 $0 $0 $540 $15,360Auto $0 $0 $0 $0 $0 $0 $0Supplies $150 $150 $150 $150 $150 $150 $1,950Telephone & Fax $75 $75 $75 $75 $75 $75 $975Utilities $300 $300 $300 $300 $300 $300 $3,900Insurance $197 $197 $197 $197 $197 $197 $2,561Taxes $325 $325 $325 $325 $325 $325 $3,900Loan Payment $3,460 $3,460 $3,460 $3,460 $3,460 $3,460 $44,980Maintenance $0 $0 $0 $0 $0 $0 $0Accountant $125 $125 $125 $125 $125 $125 $1,625Credit Card Expense $602 $602 $602 $602 $602 $602 $7,224Monthly security Fee $260 $260 $260 $260 $260 $260 $3,380Travel Expenses $0 $500 $0 $0 $0 $0 $1,000Fixtures & Equipment $7,715Construction Fit-Out $2,952Starting Inventory $0Utility Deposits $300Licenses $250Pre-Opening Advertising $1,120Purchases at Cost $7,968 $5,161 $13,854 $42,409 $14,217 $21,183 $249,122Petty Cash $100 $100 $100 $700
-60,000
-50,000
-40,000
-30,000
-20,000
-10,000
0
10,000
20,000AprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberJanuaryFebuaryMarch
Cash Flow Graph
Break Even Analysis
Open in April and will breakeven 17 months later in September.
break even point in dollars (3c) $916,413 average amount of a customers purchase$180customers for the first year 5,091number of customers per day 14
Monthly Operating Expenses
ESTIMATED MONTHLY EXPENSESMONTHLY ANNUAL
Owners Draw $2,000 $24,000
Other Salaries $3,592 $43,104
Taxes(employer taxes) $325 $3,899
Rent $14,805 $177,660
Advertising $1,325 $15,900
Supplies $150 $1,800
Telephone $75 $900
Utilities $300 $3,600
Insurance $197 $2,364
Accountant $125 $1,500
Credit Card Fees $602 $7,225
Security $260 $520
Loan Payment $3,460 $41,520
SUB-TOTAL COLUMN 1 $27,216 $323,992
START UPCOSTS (to be paid once)
Fixtures and Equipment 7,715
Construction Costs and Installation 2,952 Starting Inventory 86,697
Deposits/Public Utilities 300
Legal/Accounting Fees 424
Licenses & Permits 250
Pre-opening Advertising 1,120
Cash (operating costs for 3 months) 81,648
Security Installation 4,899
SUB-TOTAL START UP COSTS 186,005
LESS OWNERS INVESTMENT 27,900
ESTIMATED LOAN NEEDED TO START 158,105
Monthly Operating Expenses
Brochure
Website Home Page
Charity Event
Thank You Card
Hang Tag
$168.00
M
Gift Card
Facebook Ad
Direct Mailer
1845 Walnut St Philadelphia
PA
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1845 Walnut St Philadelphia Pa
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