The Ownership: The Business Structure, Sole Proprietorship

BUSINESS PLAN
Gardenia Rouge Store
New York
U.S.A
14TH December 2016
Executive Summary
The Ownership - The business structure will be a sole proprietorship.
The Management –The owner shall manage the operations of the business. Staff members shall carry out business logistics and customer response.
The Goals and Objectives – the business shall aim to provide high-end quality lingerie products in luxury departmental and online stores, later expanding to luxury lingerie boutiques. The business has a prospect of having three more stores in the state of New York within the first three years of operation.
The Mission – is to provide the highest quality and trendy high-end lingerie fashion alternative in a serene shopping atmosphere for all fashion savvy women.
The Vision – is to be the best fashion house of choice, offering quality lingerie fashion with unlimited variety, lifestyle, and value.
The Product – The products shall include bras, knickers, suspenders, corsets, basques, bodysuits, playsuits, garters, chemises, merry widows, bustiers, baby dolls, accessories, intimate gifts, and nightmare. The business will expand to RTW, swimsuits, and many more lingerie products between the second and third years.
The Target Market – the business shall target women that are fashion savvy, trendsetters, leaders, adventurous, luxury and glamour seekers within the state of New York. The products shall fit their seasonal and continuous demands, by offering sexy and trendy outfits for these women.
Pricing Strategy - The prices shall start from $80 according to the size and product type.
The Competitors - The business main competitors are shops and online stores offering the same type of products, such as Agent Provocateur, Fleur du Mal, Bordelle, and La Perla.
Capital Requirements – the business shall require a start-up capital of $1,500,000 for acquiring products and servicing other expenses within the first one year of operation. Out of this, the business shall require bout $500,000 through bank loans.
Barriers to market – the business might face the problem of assuring fit and comfort with an online purchase.
Organizational chart- the business organization structure would include the owner and four departments, including finance, procurement, ICT, and sales and marketing.
Marketing penetration strategy – the business will increase its market share by offering competitive prices, increasing marketing communications, and using reward systems such as loyalty points.
Business Plan
The Company
Business Sector – the owner would like to start a luxury departmental store business specialized in delivering a large variety of high quality lingerie. The company’s name shall be Gardenia Rouge operating in the state of New York (U. S. Small Business Administration, 2012).
Company Goals and Objectives - the company aims to provide high-end and in-demand local and exotic lingerie to fashion loving women. The business aims to reach this market through the luxury departmental store and e-commerce through the business website. The departmental stores shall offer exquisite ambience ideal for high-end shopping, quality service and after-sales services, real time customer response and opportunity for pre-orders. The busy and populous New York district is ideal for the business due to high market demands, different types of shoppers, and nearness to customers preferring high-end products (Lavinsky, 2014).
Company ownership structure – the business structure shall be Sole Proprietorship (Lavinsky, 2014).
Ownership background – the ownership and management of the business shall be by Michelle Marie Speck. The owner has acquired versed skills in fashion and business management, requisite for running the business effectively (Lavinsky, 2014).
Company management structure - the owner of the business shall undertake the management duty of the business. Staff members shall be employed to do marketing, finance and bookkeeping, delivery services, ICT, sales, cleanliness, and security (U. S. Small Business Administration, 2012).
Organizational timeline – the business shall achieve its objectives and goals within the first three years of start-up (Clements, 2014).
Company assets – the company shall acquire vehicles, furniture, and ICT equipments within the business timeline (Lavinsky, 2014).
The Products
Products - The customers will enjoy a variety of lingerie such as bras, knickers, suspenders, corsets, basques, bodysuits, playsuits, garters, chemises, merry widows, bustiers, baby dolls, accessories, intimate gifts, and nightwear, which shall come in different sizes, colors, and styles (Lavinsky, 2014).
Product Patent–the business name is unique and licensed by the state of New York government to carry out the above task (U. S. Small Business Administration, 2012).
Future products - The business shall venture into other products including RTW, swimwear, and fragrance according to customer demands. The business shall specialize mainly in lingerie (Lavinsky, 2014).
Market Analysis
Business description and outlook - The business will operate in the fashion industry and shall be a high-end lingerie fashion store selling the products through luxury departmental stores and online through the business website. The New York City fashion industry has a huge market size and employs 180,000 people, which accounts for 6 percent of the city’s workforce. Moreover, an estimated 900 fashion companies are headquartered in the New York City. The business aims to have three departmental store boutiques in New York City within the next three years. The departmental stores shall portray luxury and extreme ambience to attract and provide comfortable shopping experience to customers. The major consumer groups in the business industry are fashion leaders, adventurous, and glamour seekers (Lavinsky, 2014).
Target market and pricing - The business shall target the fashion savvy women in New York City with high-end lingerie. The products shall include bras, knickers, corsets, basques, garters, chemises, body suits, playsuits, merry widows, bustiers, baby dolls, robes, nightwear, shape wear, loungewear, stockings, and many more lingerie. The customers shall have the liberty of sampling the apparels with different colors, sizes and shapes, and get expert advice and directions from the employees. The products shall fit their seasonal and continuous demands, by offering sexy and trendy outfits for these women. The products shall be at competitive prices, beginning from $80 as the lowest price. However, the business may introduce cash and trade discounts in future to promote its products. This market niche contributes to over $150 million in yearly sales and the aim of this business is to claim at least a third of the market share in three years time. Spirited marketing and depiction of luxury and great ambience in its departmental stores will enable the business to draw more customers and get a bigger market share. The lingerie market is expected to grow by 2 percent due to shift in consumers preferences towards high-end lingerie (U. S. Small Business Administration, 2012).
Competitor Analysis
Competitors - The business’ main competitors are shops and online stores offering similar product types. The biggest competitors shall be Agent Provocateur and La Perla (Lavinsky, 2014).
Competitors’ strategies - The business competitors sell local, high quality products at high prices, targeting the luxury consumers. The businesses operate through shops and online stores but lack clear strategies of customer delivery (Lavinsky, 2014).
SWOT Analysis (Strengths, Weaknesses, Opportunity, Threats)
Strengths – the business shall offer high quality, wide variety, and in-demand lavish and exotic products at competitive prices. Customers shall enjoy the ambience of the store while shopping, and get free shipping of the products to their locality whenever they buy the products online (U. S. Small Business Administration, 2012).
Weaknesses – the business will take time to appeal to the high-end market due to proliferation of medium-end businesses present in the market (Lavinsky, 2014).
Opportunity – the business shall be the first offering high-end products at such high quality in the district. The business shall take advantage of poor customer care and general business activities of existing businesses by offering custome...