Retail Management

Business Plan

Allie Hull

Table of Contents

Concept Statement …………………………………………………………………………………….. Vision and Mission Statement …………………………………………………………………….. Shared Values …………………………………………………………………………………………..... Culture ………………………………………………………………………………………………………. Customer …………………………………………………………………………………………………… Direct Competition …………………………………………………………………………………….. Indirect Competition ………………………………………………………………………………….. Industry Overview ……………………………………………………………………………………... SWOT Analysis (Competitors) …………………………………………………………………….. Branding ……………………………………………………………………………………………………. Location …………………………………………………………………………………………………….. Location Demographics .……………………………………………………………………………... Store Décor and Visuals ……………………………………………………………………………… 5 Senses …………………………………………………………………………………………………….. Plan-‐o-‐gram ………………………………………………………………………………………………. Merchandise Classifications ……………………………………………………………………….. Percentage (%) of Annual Sales ………………………………………………………………….. 3 Ways to Estimate Sales…………………………………………………………………………….. Website……………………………………………………………………………………………………… Profit & Loss Statement ……………………………………………………………………………… Events List …………………………………………………………………………………………………. Event #1 ……………………………………………………………………………………………………. Event #2 ……………………………………………………………………………………………………. Event #3 ……………………………………………………………………………………………………. Event# 4 ……………………………………………………………………………………………………. Value of Customer for Life ………………………………………………………………………….. Management and Leadership Style ……………………………………………………………… Organizational Structure …………………………………………………………………………….. Human Resources/Policies ………………………………………………………………………….

Concept Statement

Our business is an upscale boutique that sells classic, clean-‐cut blazers, pants, and blouses that can transition from work to night. We focus on quality and ‘the perfect fit’ for women’s apparel. Our boutiques will be located in Chicago, mainly West of the Des Plaines River in neighborhoods such as Wicker Park, Bucktown and Logan Square.

What makes our business different from other boutiques in the area is that all sale associates will double as skilled tailors, and when you purchase a garment the tailoring is included in the price at no additional cost. Tailoring is done on-‐site and can be done to a garment purchased from our store as many times as the customer likes for the life of the garment. The garments will be made so they can be tailored in any way possible from taking in/out seams, to making something quarter sleeve when it has long sleeves. Our target customer is someone who can never find the perfect blazer or pair of pants. This person wants an investment piece that they can wear to their job and straight out for happy hour drinks. This woman is most likely just out of college and buying her work wardrobe. She lives with a comfortable amount of money in Chicago. Our customers will want to buy this product because most people in the city will not make the effort to take a garment to a tailor for multiple fittings all over Chicago if the garment does not fit right. Most importantly, our customers will buy our product because they can leave the store knowing that the garment fits perfectly and that they will always be comfortable when wearing it.

Our business will be promoted on Refinery29 (the Chicago section), Instagram, Facebook, and Twitter. Ads will be posted in popular coffee shops and restaurants in the Chicagoland Area. There is also the possibility of promotion through pop-‐up shops in surrounding areas, to reach people who do not live in the target market area.

Vision Statement

Our boutiques vision is to create an upscale atmosphere where customers enter knowing what they want and leave getting it. Each time a customer steps into our store they will automatically feel comfortable in the posh environment we have created. Our sociable and passionate workers instill a confidence in our customers that allows them to leave the boutique with a weight off their shoulders; they know they found the perfect blazer, and recognized the individualized service and quality of product that have bought.

Mission Statement

To achieve our vision the most important thing to focus on is the quality of our employees tailoring and communication. It is important for the employee to understand what the customer wants and to be able to execute it. Customers will be invited and encouraged to visit our workroom and witness the hard work our employees put into every piece. Our mission is to create a comfortable atmosphere for the customer. The boutique will be designed to reflect our customer’s upscale tastes and personalities. It will be clean, trendy, and artwork will be replaced every to reflect the changing trends in fashion.

Shared Values

Our shared values are making sure the customer leaves without doubts about how the tailoring of their garment will turn out. Employees will be excited and passionate about helping customers, and eager to learn new tailoring techniques that will help them alter garments according to the new and emerging trends. Employees will always look put together, posh, and have a sociable and confident attitude.

Company Culture

Working for our company, you should expect to enter a self-‐driven, self-‐motivated atmosphere. Our staff takes pride in maintaining client relationships and establishing lasting friendships with other employees without losing focus on sales and getting tailoring work done. Hours: Full time employees will be scheduled for 30 hours a week on the floor. Time spent tailoring will take place during times outside of the 30 hours and will be done in the workshop on location. For time spent sewing, a punch card will be utilized to keep track of the hours each employee works Staff: The staff will be composed of experienced tailors with styling experience. Staff will be hired based on an interview and a demonstration of tailoring skills. Upon employment, staff will be required to take a two day training course. Day one will cover the basics such as how to work the register and getting familiarized with the layout of the store and the workroom. On day two you will be taught how are garments are made tailor-‐friendly, and you will practice on our clothing before we send you out onto the floor. Schedule: The schedule will be posted in store and emailed to staff every Monday. The schedule will be for the next Thursday to the Thursday after. If a staff member would like to request a day off, they must submit a written request no later than 5 days in advance Wages/Benefits: Staff will be paid an hourly wage, plus commission for the hours working on the floor. Each six months employees will be evaluated based on customer retention, sales, and time spent tailoring versus how many garments tailored. Evaluations will serve as a basis for granting raises. Each staff member will be granted two blazers upon employment. One may be from the newest collection. Each three months the staff member with the highest amount of sales will be given a $500 credit to be used in the store. Workshop: We have designed the workshop area as a designated employee oasis. We have worked hard to make it an appealing atmosphere for employees to work on tailoring while still being able to feel relaxed and enjoy the company of other employees. We know that our staff spends a great deal of time sewing and tailoring to the customers needs so we make sure that the work are is always stocked with refreshments, supplies, and other needs. We find that on Saturday mornings when employees are not scheduled on the floor they are in the workshop. That is why on Saturdays you will find bagels, coffee, juice and other breakfast items supplied for you. Feel free to bring your own champagne for mimosas!

Customer

Description

Our intended market will initially be female. However we are open to the possibility of including males depending on the store's success and the demand for our services. Our potential customer’s age will be 25 and up, with a focus on the 25-‐40 age range. The geographic location of the customer will be in downtown Chicago, most likely from the loop and north from there. Our customer’s likely occupation will be a business professional, ranging from entry-‐level to executive positions. Generally our customer will be interested in fashion, like to go out (especially happy hour) and will overall be a social person. Our customer will not like ill fitted clothes and wasting her time, she will be very efficient. Our product will be more desirable because all the merchandise we provide is made to fit. We will make sure that the fabrics and material is tailor friendly. As far as entertainment our customer will enjoy traveling, going to movies, bars, sporting and concerts, exercising and spending time with her family. Our customer will be very fashion conscious and wants to look like she cares about how she looks and what she wears without trying too hard or looking over the top. Since our customer will be very professional and a serious business woman she won’t have as much to shop as she’d like but she will definitely come in every season to update her wardrobe and the occasional stop to pick up a new piece. Our customer will mainly like to buy good fitting jeans, blazers, and clothes that can go from day to night. She would like to shop more at retail stores but sometimes just doesn’t have the time, so she does frequent online shopping.

Customer Profile

Geographic Region: Chicagoland Area (from the Loop and North) City Size: 3 Million Urban/rural: Urban Climate: All 4 seasons (Fall, Winter, Spring, Summer) Demographics Age: 25 and Up (range 25-‐40) Sex: Female Family Life Cycle: Single, engaged or married Education: College educated, with a possible Masters Degree Occupation: Professional Psychographics Social Class: Middle to Upper-‐Class Personality: Outgoing, high achiever, ‘go getter’, and hardworking Lifestyle: Likes nice things and to live the ‘good life,’ and works hard to make those things happen.

Consumer Behavior Benefits desired: Wants a regular store to help her needs and wants for looking professional and casual. Cares about fashion and what she wears and wants long lasting clothes that are fit to her body, and has the option to readjust if her body changes. She also wants to look go without looking like she is trying to hard.

Target Customer Example

Name: Pippa Age: 29 Occupation: Event Planner Where She Lives: Bucktown, Chicago, IL Relationship Status: Single Education: College Graduate; DePaul University; Public Relations Major Favorite Movie: Bridesmaids Favorite Restaurant: Cantina Laredo Favorite Magazine: Cosmopolitan Favorite Music: Of Monsters and Men; Ellie Goulding; Electric Dance Music Political Views: Liberal Hobbies: Socializing; Yoga; Going to concerts; Traveling; Going to sports games Tech-‐Savy(ness): Owns an iPhone and iMac, but not overly obsessed Favorite Vacation Locations: Cabo San Lucas, Mexico; San Jose, Puerto Rico; Paris, France Other Favorite Designers: Marc Jacobs; BCBG; J Brand; Elizabeth and James Favorite Shopping Destinations: Nordstrom; Nordstrom Rack; TopShop; Zara Shopping Personality: Enjoys shopping, but is crunched for time; Likes staple pieces

Direct Competition

Saks Fifth Avenue

Price Range: $200-‐$1,000

Quality: High quality fabrics and well constructed garments.

Unique Features: Different designers; both well known among not that well known, young and trendy pieces and pieces for the mature customer.

Distribution System: In-‐store and by mail through catalogs and online shopping.

Marketing/Advertising: In-‐store, online (email, social media) and by mail.

Geographic Location: Large, urban cities situated in a good part of town.

Strengths: Larger selection to choose from. Different price ranges. In store credit as a form of payment and loyalty programs. Yearly promotional sales and shopping incentives. Free alterations.

Weaknesses: More expensive than our retail boutique. Larger store makes it hard to find that certain piece that you are looking for.

Bloomingdale’s

Price Range: $200 -‐ $500

Quality: High quality. Designer made garments or well constructed garments.

Unique Features: Different designers, young and trendy pieces and pieces for the mature customer.





Weaknesses: Can be more expensive than our retail boutique depending on section of the store. Larger store makes it hard to find that piece you are looking for.

Nordstrom

Price Range: $ 200 -‐ $500


Unique Features: Different designers, young and trendy pieces and pieces for the mature customer.



Geographic Location:

o Large, urban cities situated in a good part of town.


Weaknesses: Can be more expensive than our retail boutique depending on section the section of the store. Larger store makes it hard to find that piece you are looking for.

Neiman Marcus

Price Range: $200 -‐ $1,500


Unique Features: High range of well-‐known designers.





Weaknesses: More expensive than our retail boutique. Larger store makes it hard to find that piece you are looking for.

Indirect Competition

Other places where the customer may shop or spend money at: 1. Starbucks 2. Local, trendy coffee shops. 3. Eats at trendy or high-‐end restaurants like: Frontera Grill, Avec, Gilt Bar, The Gage, and Girl & The Goat. 4. Goes to bars like: Paris, The Bar at the Peninsula Chicago, Sable, Le Bar. 5. Goes grocery shopping at Whole Foods. 7: Works out at Equinox. 8: Love to travel to beautiful place where there is fashion like Paris, London or Milan. 9: Enjoys culture such as shows as the Chicago Theatre, Oriental Theatre, etc.

Industry Overview Census Data (Source: www.cesus.gov) Annual Sales of U.S Retail & Food Services Firm (in millions of dollars) 1. Clothing Stores 2008: $157,937 2009: $151,675 2010: $158,849 2. Women’s Clothing Stores 2008: $38,315 2009: $35, 860 2010: $37,431 Estimates of Monthly Retail and Food Services Sales: 2012 (in millions of dollars) 1. Clothing Stores January: $10,711 February: $12,647 March: $15,243 April: $14,057 May: $14,657 June: $14,108 July: $13,816 2. Women’s Clothing Stores January: $2,505 February: $2,999 March: $3,801 April: $3,569 May: $3,676 June: $3,366 July: $3,366 Consumer Measures (Source:www.conference-‐board.com) 1. Consumer Confidence Index (September 2012): 70.3, up from 61.3 in August 2. Expectations Index (September 2012): 83.7, up from 71.1 in August Women’s Wear Daily (Source:www.wwd.com) ● Apparel and accessories stores posted a 0.1 percent seasonally adjusted decline to

$19.9 billion in August compared with July ● In the overall economy, retail sales rose 0.9 percent to $406.7 billion. ● The S&P Retail Index gained 12 points to 655.80 as the Dow Jones Industrial

Average increased 1.9 percent, or 244.52 points, to 13,292. ● Clothing and accessories store sales increased a seasonally adjusted 0.9 percent to

$19.7 billion in May compared with April, while sales at department stores rose 0.2 percent to $15.2 billion.

● General merchandise store sales, a category that includes discounters and department stores, posted a 0.5 percent decline to $52.6 billion in May.

● On a year-‐over-‐year basis, sales at apparel specialty stores increased 5.4 percent in May, while sales at department stores fell 0.9 percent and sales at general merchandise stores rose 0.7 percent.

United States Department of Commerce (Source:www.esa.doc.gov)

● Retail sales increased a strong 0.8 percent in March (exceeding expectations)

following similarly strong gains in January and February. Taken together, retail sales grew a whopping 8.0 percent at an annual rate from the fourth quarter of 2011 to the first quarter of 2012 and jumped 6.4 percent from the same quarter last year. That means that the average American spent $186 more per month in 2012 Q1 at retail stores than they did in 2011 Q1.

Kiplinger (Source: www.kiplinger.com) Retail Sales Forecast: Look for retail sales growth to fall off at the beginning of 2013, largely because of changes in tax and government spending -‐-‐ the upshot of a deal to avert driving off the fiscal cliff . So far, consumers have proved resilient in light of the uncertainty that is causing businesses to hold off on investing and hiring: Retail sales climbed 1.1% in

September over the previous month. But increasing odds that the payroll tax cut enacted in 2011 won't be extended through 2013 means consumers are likely to pull back on spending even more than is dictated by the normal thriftiness of the postholiday season. A pickup in spending in the second half of the year should, however, help retail sales to grow about 5% in 2013, slightly less than the 6% gain expected in 2012. Internet Retailer (Source: www.internetretailer.com)

Branding

Logo and Signage:

Our brand, Willis, is inspired by the changed name of the Sears Tower. Our brand is new, fresh, sleek and sophisticated just as the new name, The Willis Tower, is fresh and new to Chicago.

The left side of the “W” in Willis is a needle and thread because our specialty is tailoring. Also, when people see our bags on the street they will know we sell clothing and tailoring services and not other products or services such as food or cosmetics.

Font: Our signage, logo, and bags will use the font “Zapfino”

Color Scheme: “Couture”

Garment and Shopping Bags:

Store Location

Address: 1864 N. Damen Avenue Unit 1C Chicago, IL 60647

Cross Streets: In-‐between West Courtland Street and West Moffat Street Total Square Footage: 1250 square feet Dimension of Entire Space: 22’-‐0” x 57’-‐0” Dimensions of Separate Spaces: Selling Area: 22’-‐0” x 43’-‐0” Office/Back Stock/Tailor Area: 21’-‐4” x 14’-‐0” Bathroom: 8’-‐0” x 8’-‐0” Shape: Rectangle Location of Entrance: Front access, city street Location of Exit: Back of the store, into an alley Location of Windows: Front/Entrance Terms of Lease: 60 months, NNN Rental/Square Foot:

$30/SF/Year (without NNN) $39/SF/Year (including NNN)

Monthly Rent: $3125/month (without NNN) $402.50/month (including NNN)

Common Area Fees: Air Conditioning, Common Area Maintenance, Electric, Heat, Janitorial, Real Property Taxes, Insurance, Scavenger, and Water/Sewer. Explanation of Location: Our first thought when we were choosing location was where our target market would already be present. We knew it would be better to position ourselves where our customer already shops instead of trying to draw them to a different part of the city. We choose to be on Damen because of the high walking traffic. Next, we decided we wanted to be down Damen, towards where the Marc by Marc Jacobs store, smaller boutiques, and higher end chain stores such as Free People and French Connection are located. These are stores that

our customer will most likely shop at and they will not be able to go to all the stores mentioned without also passing our store front. While we looked at other places that also have these stores in a close proximity we all had a gut feeling that Damen was the best place to begin our search. Throughout our research we stumbled across an article from forbes.com that listed the Wicker Park neighborhood as one of the “Hippest neighborhoods in all of America.” Finding the actual space was a different challenge. We needed a space that would be large enough for not only our store but for the workshop for our tailors. We found a 1,250 square foot location that already had a separate office we could use for the workshop. The breakdown of the space would be about 900 square feet for the retail portion of the store, and a 350 square foot workshop. Another appealing trait of the location was that the two units above it were vacant. This allows us opportunity to expand the store to the entire 1,250 square feet and rent the floor above for the workshop and stock room. We found that the rent the landlord is asking is typical for the neighborhood and would be affordable for our shop.

Exterior

Floor Plan

Explanation of Location:

Our first thought when we were choosing location was where our target market would already be present. We knew it would be better to position ourselves where our customer already shops instead of trying to draw them to a different part of the city. We choose to be on Damen because of the high walking traffic. Next, we decided we wanted to be down Damen, towards where the Marc by Marc Jacobs store, smaller boutiques, and higher end chain stores such as Free People and French Connection are located. These are stores that our customer will most likely shop at and they will not be able to go to all the stores mentioned without also passing our store front. While we looked at other places that also have these stores in a close proximity we all had a gut feeling that Damen was the best place to begin our search. Throughout our research we stumbled across an article from forbes.com that listed the Wicker Park neighborhood as one of the “Hippest neighborhoods in all of America.” Finding the actual space was a difficult challenge. We needed a space that would be large enough for not only our store but for the workshop for our tailors. We found a 1,250 square foot location that already had a separate office we could use for the workshop. The breakdown of the space would be about 900 square feet for the retail portion of the store, and a 350 square foot workshop. Another appealing trait of the location was that the two units above it were vacant. This allows us opportunity to expand the store to the entire 1,250 square feet and rent the floor above for the workshop and stock room. We found that the rent the landlord is asking is average for the neighborhood and would be affordable for our shop.

Location Demographics

Area Code: 60647 Area: Bucktown/Logan Square Population: 98,943 People Living in Area Code 60647:

• Young Digerati: Wealthy younger mix who are highly educated and love living in fun, fashionable neighborhoods. They enjoy trendy apartments and condos, as well as casual restaurants and trendy fitness clubs and clothing boutiques.

• Bohemian Mix: Mobile urbanites who represent the nation’s most liberal lifestyles.

Young singles, couples and families ranging from students to families. They are people who check out the latest movie club, nightclub, laptop and microbrew.

Data and Graphs Median Age: 31.2

Median Income: $44,700

Consumer Spend: $1,222 MM Household Consumption:

Population by Race & Ethnicity:

Store Décor and Visuals

Fixtures and Flooring:

Key Features of our store would be dark hardwood floors, white walls, and dark fixtures

like in the picture above. We would modify the above space by removing the center tables

and having that be our waiting area with couches and a table. Merchandise would be hung

on wooden hangers with silver hooks on the top:

Waiting Area: Since the merchandise would line the outside of the store, we plan to fill them empty space

in the center with a large area rug and two couches facing a table. Types of décor we plan to

include are basic couches with geometric print pillows. They would be changed out

routinely as the seasons and trends change.

Center Table:

Area Rug:

Walls: This is an example of the type of decal we would have on the wall behind the cash

register. It would tie our brand name into the city of Chicago and let people know we are a

Chicago based company.

5 Senses

Smell

Clean Fresh Light Fragrance Plants/Flowers Serenity

Touch

Quality Fabrics Hard Surfaces/Floor Soft Rug Comfy Couches Smooth

Sight

Clean Organized Sleek Wood Oversized Hangers Large Fitting Rooms Couches Polished

Hears

Soft Music Happy Customers Light Conversation Chiming Chuckling

Taste

Hydration (water) Mints Cleansed Palette

Bathroom

Dressing Room

Storage Room

Dressing Room

Front Door Entrace

Back Room W/ Sewing Tables

Bathroom

Electrical Room

Accessorries Table

Trousers

Rack

Professional

Blazers Rack

Shirts Rack

Dressing Room

O oman

Couch

Couch

Storage Room

Denim Rack

Evening/Casual

Blazers Rack

Dressing Room

Cashier Accessorries Table

Plan-‐o-‐gram Explanation: We knew that we would have to have two separate spaces in our store. One space for selling our merchandise and the other space for tailoring, backstock, etc. We decided to put all of our merchandise on racks on and along the walls because we didn’t want too much clutter in our store. Then we put the couches and large outtoman in the center of the store for people who may not be shopping to sit and relax. We put our trousers, professional blazers and shirts all together because that is what we consider our ‘work wear.’ We put out jeans, blouses and evening/casual bazers all together because that is what we condiser our ‘ weekend and casual wear.’ This will make it easier for our customers to shop. We put our accessories table by the cash register because those will be our last minute and add on purchases. Finally we have the sewing tables visible in the back because we want the customers to get an inside look of how we run our business. That way the customer will feel more apart of the store and more comfortable with us.

Merchandise Classification

Womenswear

Professional Blazers 16%

Casual Blazers 16%

Evening Blazers 16%

Bottoms-‐Denim 7%

Bottoms-‐Trousers 7%

Tops-‐Shirts 7%

Tops-‐Blouses 10%

Jewelry 12%

Bags/Scarves 9%

Percentage (%) of Annual Sales

January 5% February 2% March 13% April 14% May 15% June 5% July 4%

August 10% September 10% October 10% November 5% December 7%

By Units Sold

Monday Tuesday Wednesday Thursday Friday Saturday Sunday Unit Total APP TotalProfessional Blazers 1 2 3 4 4 6 7 27 $275 $7,425Casual Blazers 1 2 3 4 5 6 5 26 $250 $6,500Evening Blazers 1 2 3 4 8 8 3 29 $300 $8,700Denim 1 2 2 2 3 3 2 15 $180 $2,700Trousers 1 1 2 2 2 3 4 15 $180 $2,700Shirts 1 2 3 4 6 7 5 28 $100 $2,800Blouses 1 2 3 5 7 8 3 24 $120 $2,880Jewelry/Scarves 1 1 1 2 3 3 2 13 $60 $780Bags 0 0 0 1 1 1 1 4 $100 $400

Annual

Average Ticket

Monday Tuesday Wednesday Thursday Friday Saturday SundayAverage ticket= $500 3 4 4 6 9 10 8

Annual

Based on RentAnnual Rent $51,000 x10 $510,000 Annual

Conclusion

3 Ways to Estimate Sales

$1,779,135

$1,122,000

$510,000

We decided our projected sales will be $1,300,000 annually. We came up with this number based on the Units Sold and the average ticket number. We did not pay much attention to the number we got based on rent because we have to sell more units than the average store because of our workshop we will have the in back. A very large portion of our store will be the tailors work area and storage for our garments, so we have to make more money for the upkeep of the space.

Website

Home Page

About Us

Profit and Loss Statement Annual Total Percentage Net Sales 1,300,000 100% Cost of Goods Sold 702,000 54% Gross Profit 598,000 46% Itemized Expenses Owner's Payroll 117,000 9.0% Staff Payroll 182,000 14.0% Rent 51,000 3.9% Utilities 39,000 3.0% Maintenance/Repair 1,000 0.1% Telephone/Fax 5,200 0.4% Security/Internet 3,900 0.3% POS System Maintenance 2,600 0.2% Liability Insurance 1,200 0.1% Insurance Worker's Comp 2,000 0.2% Office Supplies 26,000 2.00% Packaging 6,500 0.5% Marketing and Advertising 26,000 2.00% Travel and Entertainment 6,000 0.5% Professional Fees 10,000 0.8% Merchant Services 28,600 2.2% Employee Welfare 2,600 0.2% Freight from Vendors 21,060 3.00% Auto 2,000 0.2% Taxes and Licenses 300 0.02% Postage 650 0.1% Displays 5,000 0.4% Miscellaneous 600 0.05% Total Expenses 540,210 42% Net Profit/Loss 57,790 4%

Events List

January: New Year’s Sale ● January 05, 2013 (all day event) ● A markdown on winter clothes ● Attempt to get rid of old inventory for new inventory

February: Spa Day Giveaway ● February 11-‐17, 2013 (all week event) ● Customers who shop with us this week will be entered in a raffle to win a

free spa day at Mario Tricoci. March: Spring/ Summer Fashion Show ● March 22, 2013 (8:00-‐10:00PM) ● A fashion show at our store displaying all of our new merchandise for the

Spring/Summer season ● Attendees will be able to try on and purchase merchandise after the show

April: Bring a friend with you VIP event ● April 06, 2013 (all day event) ● An event for our top 20 customers and a guest. ● There will be a trunk show of our new merchandise ● Food and Drinks, plus a Live DJ ● All VIP members and friends will receive 10% off on all their purchases ● There will be a raffle throughout the night

May: MAC Cosmetics Partnership Party ● May 18, 2013 (5:00PM -‐ 9:00PM) ● A MAC Cosmetics Consultant will come in and show customers how to wear

their makeup for the summer season with our merchandise ● Will give free demos, have makeup available for purchase, and provide free

samples of MAC products June: Start of Summer Sale ● June 21, 2013 (all day event) ● A flash sale to get women excited for summer weather ● 25% off all merchandise

July: Summer Cocktail Shopping Party

● July 13, 2013 (5:00PM -‐ 10:00PM) ● A fun summer night out with your girlfriends ● Drink, shop and have fun

August: Fall/Winter fashion show ● August 03, 2013 (8:00PM-‐10:00PM) ● A fashion show at our store displaying all of our new merchandise for the

Spring/Summer season ● Attendees will be able to try on and purchase merchandise after the show

September: Trunk Show with Demo ● September 14, 2013 (2:00PM) ● It is designed to get potential customers familiar with our business ● One random audience participant will be selected to get a 25% gift card and

free blazer tailored on the spot and be able to take it home with her on the same day, so attendees can see the before and after process.

October: Free Accessory with Every Purchase ● October 19 and 20, 2013 (all day event) ● If you shop with us you will get a free accessory with your purchase

November: Date Night Shopping Event ● November 07, 2013 (5:00PM-‐ 9:00PM) ● Bring a significant other (friend, husband, or child) to shop with you ● Will offer free pampering, drinks and food for your significant other while

you shop December: Annual Holiday Charity Event ● December 14, 15, and 16 2013 (3 day event) ● If you shop with us during that weekend 20% of the proceeds will go to a

charity.

Event #1

April: VIP party

VIP guests will include our top 20 customers determined by the dollar amount of sales they provide the company. Each VIP will be able to bring one friend to the invitation-‐only event.

Every year the event will take place at our first store on Damen. Guests will show up at 8:00 after the store has closed. There will be a DJ; a bar tender, and light snacks.

All of our tailors will be at the event to help customers select the right blazers and clothing. For this night only there will be a 10% discount storewide, even on new merchandise.

There will be three drawings over the course of the night. 1 drawing for a $100 gift card, another for a free blouse with purchase, and another for a free accessory with purchase.

Our company will arrange with a neighboring bar or lounge to accommodate our VIP guests with drink specials if they show their invitation at the bar. This will give a chance for our VIP guests to get to know each other more and talk about the purchases they made.

Promotional E-‐mail:

To: [email protected] From: [email protected]

Subj: Bring a friend to our VIP party. Giveaways, sales, and drinks!

Hey ___! To thank you for helping our new boutique launch to success, we have put together a party for our VIP members. We would like to invite you and a friend to come to our boutique at 8:00 on Friday, April 20th. There will be a DJ, free drinks, and chances to win free clothes and an after party at the _ bar right across the street!!

Click on the link below to see pictures of the merchandise we will be introducing at the party. You can also pre-‐-‐-‐order any of the new collection to be sure we will have your size on the night of the event!!

Please respond via e-‐-‐-‐mail, or call the store at 312-‐-‐-‐456-‐-‐-‐6756 to RSVP!!

-‐-‐-‐Marie

www.willischicago.weebly.com

Event #2 May: MAC Cosmetics Partnership Party

MAC Cosmetics Consultants will be available in our store and show/teach customers how to wear fun summer makeup colors and current makeup trends with our clothes. The makeup artists will give suggestions as to which makeup colors and style look better with certain merchandise. The MAC Consultants will give insight as to what makeup colors/styles more appropriate for work and what is better suited for going out. Additionally, the MAC Cosmetics Consultants will give free demos to customers and provide free samples. Other MAC products will also be available for purchase. Drinks and appetizers will be served throughout the event. For this event we expect 50-‐75 people to attend within the 5-‐hour time frame. We plan to reach our customers by going into our customer database and send invitations to customers who made purchases in January and February. We figure that they came in for winter clothes and now it’s time to buy spring/summer clothes, and they will be eager to shop. We will also give invitations to customers who shop with us in the month May and encourage them to come back in with their purchases for makeup tips/ideas. Date: May 18, 2013 Time: 5:00 PM-‐ 9:00 PM Drink List

● Champagne ● Water

Appetizer List (Portillo’s Catering)

● Vegetable Tray ● Cheese and Sausage Cube Tray ● Fresh Fruit Tray ● Chicken Tenders ● Chocolate Lovers Tray

Cost for Event Invitations: $500 MAC Consultant Fee: $125 Drinks: $100 Appetizers: $165 Champagne Glasses (Rented): $40 Paper Goods: $25 Flowers: $40 Server: $150

__________________________________________ Total= $1145

Estimated Sales: $14,000 Estimated Sales without Event: $5571 1,300,000 annual sales (15% Month of May) = $195,000 $195,000/4 weeks = $48,750 $48,750/ 7 days= $7000

Your Invited! A Night of Fun with a MAC Cosmetics Consultant

May 18, 2013: 5-‐9 PM Are you tired of wearing the same neutral or smoky eye? Are you looking to switch up your regular makeup routine? Well, Willis has the solution for you! We are hosting a night along with MAC Cosmetics to show you how to mix up your makeup routine with fun summer colors! A MAC

Cosmetics consultant will be available to give free demos, tips, ideas and samples on how to switch up your makeup routine. Drinks and appetizers will also be served.

Willis 1864 N. Damen, Chicago, IL 60647 Monday-‐Sunday 10AM-‐8PM (312) 555-‐8734

only at

Event #3

September: Trunk Show with Demo

The trunk show will be for anyone who wants to attend, but an RSVP will be necessary if you want guaranteed entry. There will be no cost to attend.

The trunk show will be an early sneak peak at our winter and holiday items. In addition to showing the new merchandise we will also show how they are tailored.

If customers are interested in buying a blazer they can enter a drawing for the chance to get 25% off, and have their blazer tailored on spot and get it back the same night. When the customer is selected from the drawing they will choose their blazer, and go on stage showing how it originally fits. The tailor will communicate with the customer about how she wants it tailored, showing the audience how experienced the tailor is, and how fun the service can be.

The tailor will then take the blazer to the sewing room to make adjustments.

Guests will have time to mingle, get drinks, and take a peak at the sewing room. When the tailor is almost finished, a company representative will take the stage to explain that Willis garments are made to be tailor friendly, share some interesting facts about where our tailors learned their craft, and other motivators to encourage customers to want to purchase from us.

The selected customer and the tailor will take the stage to show the final blazer. After the customer is fitted, other guests will be encouraged to shop and meet with a tailor. Tailors will begin to fit garments and also answer any other questions customers have while shopping.

Post-‐card:

Event #4 December: Annual Holiday Charity Event

The annual holiday charity event will be a shopping event that will be available to the general public for three days. The main aim of this weekend event will be for guests to come in, shop and then 20% of the proceeds will go to a charity of our choice, which can change every year. In addition to the three-‐day shopping event, on Friday night, December 14, 2013, we will host a charity event. The event will be free to our top 30 customers depending on the amount they have spent but will also be opened to the general public for a fee. The store will not lose money with the event since we will depend on sponsors for food, alcohol and entertainment. The only thing we would pay for would be servers, flowers, invitations, paper goods, cocktail glasses, and other miscellaneous things. Auctions and/or prizes will be available with merchandise from the store. Merchandise for prizes from our store will include a set of accessories, a tailored blouse, tailored pants and a gift card for the store. To bring in more customers, we will also offer customers the chance to win a set of accessories for those who did not attend the charity event. Our goal with this event is to bring awareness to our store and to the charity of our choice. The charity will benefit by raising money for themselves and their cause and our store will benefit by gaining exposure and sales through a charitable cause. Though it might sound like a loss with the free merchandise we are offering and by giving 20% of our proceeds away, we hope that by doing this, we will gain new clientele which in turn will increase our sales and profits. 2013 Charity: Muscular Dystrophy Association Live Entertainment: DJ. Cocktails: Champagne, red and white wine, special cocktails made for the event. Appetizers: Crab cakes, Kobe sliders, shrimp cocktail, grilled chicken skewers.

Specific Cost: • Liquor: $500.00 (Possibly free with sponsor or only pay half of price.) • Appetizers: $500.00 (Possibly free with sponsor or only pay half of price.) • Entertainment: $250.00 • Invitations (150): $150.00 • Servers (2): $300.00 • Cocktail glasses (rented): $80.00 • Paper goods: $30.00 • Total cost: $1,360.00 (Based on paying half for liquor and appetizers.)

Total sales of the event:

• Friday: $6,500.00 • Saturday: $4,062.50 • Sunday: $4,062.50 • Total sales: $14,625.00 • Total sales after 20% proceeds going to charity of choice: $11, 700.00

December 14, 2013 7:00 PM -‐11:00 PM

Please join us Friday December 14, 2013 for our annual holiday charity event to be held at our store . Come shop,

have drinks (champagne, wine and specialty cocktails) and appetizers , and win prizes all for a good cause benefiting the

Muscular Dystrophy Association.

1864 N. Damen Avenue, Chicago, IL 60647 10:00 AM – 8:00 PM (312) 555-‐8734

by

Value of a Customer for Life Core Customer She is a fashion savvy individual who will originally come in when she got her first job after college, looking for professional work clothes. She then will shop here 4 times a year (at the start or every season) to update her wardrobe. She will shop with us for about 6 years until she gets engaged. Then, she won’t come in for about a year because she is too busy planning her wedding. She’ll start shopping with us again for 2 years until she has her first child. She won’t shop with us during her pregnancy and then start shopping with us again for another 2 years after she gives birth. She will then give birth to her second child, move to the suburbs and we will never see her again. ● 1 Person ● 10 Years ● Example Purchase ( 4 times a year)

○ 1 Evening Blazer: $300 ○ 1 Professional Blazer: $275 ○ 1 Pair of Trousers: $180 ○ 1 Shirt: $100 ○ 1 Blouse: $120

● $4000/Year ● 10 Years ($4000) = $40,000

Secondary Customer This customer will be in love with our blazer and will come in one time a year to purchase a few blazers. She will always come in no matter what stage she is in her life. ● 1 Person ● 20 Years ● Example Purchase (once a year)

○ 1 Casual Blazer: $250 ○ 1 Even Blazer: $300

● $500/Year ● 20 Years ($500) = $10,000

Management and Leadership Style As managers, we are responsible for motivating employees and making sure they are doing their best work. Since our employees are tailors and tailor apprentices and we are not experienced in the tailoring expertise, we will bring in a third party of speakers and teachers. On a monthly basis we will host 1-‐2 guests from the following categories:

● Speakers introducing the most up to date machinery and sewing equipment that makes tailoring easier and more efficient

● Teachers that introduce time management techniques and tips to get tailoring done in a timely matter

● Seminars about how to properly fix a mistake made when tailoring to avoid having to throw the garment away

● Tailors that are now in high power positions who started out as tailors. They will speak to the apprentices and motivate them to not give up.

Something that we will do to motivate tailors is give them freedom to work on their tailoring whenever they want. Tailors will be able to schedule when they are in the workshop on their own time and will have access to the workshop after-‐hours. When in the workshop, they will be encouraged to dress how they want and listen to music if it helps them enjoy their work and be productive. Our leadership style will be based on treating all of our employees as equals. We will be open about the sales we made for the day and how well the company is doing. we will encourage our employees to let us know when something in the company is not going as smoothly as it should, and we will be open to making changes based on their feedback. We will honor everyone’s own way of completing their tasks, and accept our employees for their own personal style and personality that they hold on the selling floor. While everyone is different we still want to make sure that our employees represent the company in a positive light that fits in with our vision and mission. Therefore, as managers, we will:

● Always be on the floor when working, instead of in the backroom or workshop

● Greet every customer when they enter the shop ● Get to know customers on a first name basis ● Make sure every customer is knowledgeable about the changes that will be

made to the blazer they are trying on ● Always be energetic, productive, and on time.

Organizational Structure

Human Resources/Policies Hours of Operation: Monday-‐ Thursday 10:00 AM – 8:00 PM Friday – Sunday 10:00 AM – 8:00 PM Store Guarantee:

• We guarantee top customer service by providing impeccable service matched by clothing made from the highest quality material, altered by trained tailors to provide the best fit.

Store Return Policy:

• RETURN POLICY FOR MADE TO MEASURE ITEMS: o Due to the unique nature of made to measure items they are NON-‐

REFUNDABLE. This means that no returns or exchanges will be accepted.

• RETURN POLICY FOR NON MADE TO MEASURE ITEMS: o All items that are not made to measure have a 30-‐day return policy

as long as the purchase receipt is provided. Returns will be accepted and either a store credit will be awarded or money will be refunded back by original form of payment.

Store Positions:

• Owner/Manager o Manage and motivate team to increase sales and ensure efficiency;

manage stock levels and make key decisions about stock control; deal with staffing issues such as interviewing potential staff, conducting appraisals and performance reviews, as well as provide or organize training and development; ensure standards for quality, customer service and health and safety are met; organize special promotions, displays and events.

• Tailor/Sales Associate/ Key Holder (2): o Develops design for garment, adapts existing design for garment, or

copies existing design for garment; alters garment and joins parts, using needle and thread or sewing machine, to form finished garment; draws individual pattern or alters existing pattern to fit customer's measurements; sews buttons and buttonholes to finish garment; presses garment, using hand iron or pressing machine, watches over

boutique while manager/owner is not present; opens and closes the store.

• Tailor/Sales Associate (Regular) (2): o Develops design for garment, adapts existing design for garment, or

copies existing design for garment; alters garment and joins parts, using needle and thread or sewing machine, to form finished garment; draws individual pattern or alters existing pattern to fit customer's measurements; sews buttons and buttonholes to finish garment; presses garment, using hand iron or pressing machine, watches over boutique while manager/owner is not present; opens and closes the store.

• Apprentice (2): o Assists with all duties assigned by the tailors and or by the

manager/owner. Duties may include assisting customers with fits, altering clothes, and cleaning duties. Additional duties may be assigned. Priority duties would be to assist tailors and learn from their experience and training.

• Cashier (1): o Cashier would only come in on busy days like weekends or when

holding a special event. Duties will include expediting the sale process, assist customers with whatever they need or ask for, cleaning duties, and other duties, which may be assigned by the discretion of the owner/manager or by one of the tailors.

Hourly pay or salary of employees:

• Owner/Manager: $117,000 • Tailor/ Sales Associate (Key Holder): $35,000 • Tailor/ Sales Associate (Regular): $30,000 • Apprentice: $15.00 per hour. • Cashier: $10.00 per hour.

Employee bonuses and incentives: Each staff member will be granted two blazers upon employment. One may be from the newest collection. Each three months the staff member with the highest amount of sales will be given a $500 credit to be used in the store. Staff members that are on salary will also qualify for medical insurance. End of the year bonuses will also be given depending on how well the staff member has performed that year. Additional bonuses or incentives will also be created at the discretion of the owner/manager as a means of motivation for the staff and to increase sales.

Employee Weekly Schedule:

Employee Monday Tuesday Wednesday Thursday Friday Saturday Sunday Hours Worked

Owner/Manager N/A 10:00 – 7:00

10:00 – 7:00 N/A 10:00 – 7:00

10:00 -‐7:00

10:00 -‐ 7:00

40

Tailor/ Key Holder (1)

10:00 – 7:00

12:00 – 8:00

12:00 – 8:00 10:00 – 7:00

N/A 10:00 – 7:00

N/A 40

Tailor/ Key Holder (2)

12:00 – 8:00

N/A 12:00 – 8:00 12:00 – 8:00

12:00 – 8:00

12:00 – 8:00

12:00 – 8:00

40

Tailor (Regular) (1)

N/A 12:00 – 7:00

N/A 12:00 – 7:00

N/A 12:00 – 7:00

12:00 – 7:00

28

Tailor (Regular) (2)

N/A N/A 12:00 – 7:00 N/A 12:00 – 7:00

12:00 – 7:00

12:00 -‐7:00

28

Apprentice (1) N/A 12:00 – 6:00

N/A 12:00 – 6:00

N/A 12:00 – 6:00

12:00 – 6:00

24

Apprentice (2) N/A N/A 12:00 – 6:00 N/A 12:00 – 6:00

12:00 – 6:00

12:00 – 6:00

24

Cashier N/A N/A N/A N/A N/A 12:00 – 6:00

12:00 – 6:00

12

Worker’s Weekly Wages:

• Cashier: $120.00 • Apprentice (1): $360.00 • Apprentice (2): $360.00

Worker’s Yearly Salary:

• Owner/Manager: $117,000.00 • Tailor/ Key Holder (1): $35,00.00 • Tailor/ Key Holder (2): $35,000.00 • Tailor (Regular) (1): $30,000.00 • Tailor (Regular) (2): $30,000.00 • Annual Salary All Workers: $289,840.00

Retail Management

Documents

vision statement

mission statement

boutiques vision

target customer

quality of product

customer steps

value of customer

customer direct competition