This is one of the reasons why a business such as a clothing store or a boutique as some folks would want to call it, are in existence. In response to the ever growing demand for clothes and other fashion accessories, clothing store owners have opened additional stores thereby creating chains of stores across different cities. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customer base may grow to. The marketing aspect is very vital when carrying out a feasibility study on how to start fish farming business in Nigeria. The feasibility study shows you the details of the laundry business, the challenges, the benefits, what is required to startup as well as the profitability. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the public. In response to the ever growing demand for clothes and other fashion accessories, clothing store owners have opened additional stores thereby creating chains of stores across different cities. As a result, the start of the recession and its lasting effects on the US economy hurt industry performance. Below are the sales projections that we were able to come up with for the first three years of operations; N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and the arrival of a competitor in same location as ours within the period stated above. Please note that the above projection might be lower and at the same time it might be higher. We would need an estimate of $250,000 to successfully set up a standard and well stocked clothing store in Los Angeles – California. The Business Feasibility This is because of the need to cover up nakedness. In some countries like the United States, united kingdom and France et al, clothing stores are known to be opened 24 hours a day and 7 days a week. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied and get what they are looking for whenever they visit our clothing store and also to become our loyal customers and ambassadors in and around our neighborhood. The purpose of this report is to determine project parameters and define solutions to the problem that Further needs analysis . the feasibility of the business venture. This Penn State Extension video tells us that feasibility studies are an important step in the entrepreneurial process.. Apart from explaining what a feasibility study is, the speaker also shows how it is different from a business plan. General Info On Feasibility Study And Business Plans. 2. If you keep tabs on the clothing store business and retailing business generally, you would have noticed that It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their store to meet their needs; in essence, the use of technology help retailers to maximize supply chain efficiencies. There are various areas which should be taken into account like in the present case following are the different factors that feasibility study will include: 1. This study aims to investigate and rationalize the need of starting or investing in a project by way of technical feasibility, viability of the business and how economical the business is. Handles any other technological and IT related duties. Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al. To learn how to write a formal feasibility study on the proposed business, here are the key items to consider: The nature of the investment, Management and organization, team, Economic and financial planning, and analysis, small business marketing plans and strategies. But as much as they like your product. Our mission is to establish a clothing store business that will make available a wide range of clothes and fashion accessories from top brands at affordable prices to the residence of Los Angeles – California and other cities in the United States of America where we intend opening our outlets and selling our franchise. There is hardly any human who doesn’t wear clothes. In view of that, we have decided to hire qualified and competent hands to occupy the following positions; Our intention of starting just one outlet of our clothing store in Inglewood, Los Angeles – California is to test run the business for a period of 2 to 4 years to know if we will invest more money, expand the business and then open other chains of clothing stores all over California and perhaps also sell franchise through the United States of America and Canada. Likewise, becomes irresistible when you show them to your investors or sponsors. Changing fashion trends and of course consumer well-being is essential to industry growth because products are generally more expensive and rely on consumer discretionary incomes. Responsible for preparing financial reports, budgets, and financial statements for the organization. Over and above, the clothing store (boutique) industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets (chains of stores) in key cities. The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. Mary & Mack Clothing Store™, is a family business that is solely owned and financed by Mrs. Marry Hennessey – Crowder and family. After payment text your name, your e-mail address and bank teller number to 07036785443 and you’ll receive your FASHION DESIGN FEASIBILITY STUDY & BUSINESS PLAN IN NIGERIA. Prepare a projectedincome statementIncome StatementThe Income Statement is one of a company's core financial statements that shows their profit and loss over a period of time. Thanks for watching! We are in the clothing store (boutique) business to make profits at the same to give our customers value for their money and time whenever they patronize us. No matter what name you use, the importance stays the same. Although we may not be as large as the biggest clothing stores or retailers in the United States. We are quite aware that just like any other business, one of the major threats that we are likely going to face is economic downturn. only one designer’s collection is sold there), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market. The clothing store (boutique) Industry revenue has since recovered; however, the industry is facing more stringent competition than ever before because of a rising number of imports and consumers’ shift to online shopping et al. Are you about starting a clothing store? It gives you a clear picture of what you are to see. It may be the case that consumers in general aren’t willing regularly spend extra for an organic, homemade product. We hired experts who have good understanding of the clothing store / retailing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Los Angeles – California. Meaning of feasibility study. Feasibility Study IMPRESSIONS Executive summary Basically we are going to open a female designer ware boutique in Multan as we realized after market analysis that a strong demand exist in this south Punjab region especially in Multan as women are now being aware of the current trends want themselves to be dressed accordingly Media has its remarkable role in this regard to set new trends in female … Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. No doubt data collected from customers goes a long way to help retail stores serve them better. to ensure accurate and helpful information is supplied to our customers when they make enquiries, Responsible for cleaning the store facility at all times, Ensures that toiletries and supplies don’t run out of stock, Cleans both the interior and exterior of the store facility. The Total Fee for Registering the Business in California –, Legal expenses for obtaining licenses and permits as well as the accounting services (, Marketing promotion expenses for the grand opening of Mary & Mack Clothing Store™ in the amount of $3,500 and as well as flyer printing (, Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of, Other start-up expenses including stationery (, Operational cost for the first 3 months (salaries of employees, payments of bills et al) –, Cost for store equipment (cash register, security, ventilation, signage) –, Cost of purchase and installation of CCTVs –, The cost for the purchase of furniture and gadgets (, Generate part of the start – up capital from personal savings, Source for soft loans from family members and friends. 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