Tag Archives: vintage

Businnes Plan

Vintage Store Business Plan – Lean


Vintage Store Business Plan - Lean



Value Proposition


541 Vintage is a boutique that specializes in curated vintage clothing items. These can be found in-store or online. We offer clothing that isn’t commonly found in the fast-fashion industry. This allows people to express their individual style. This allows our customers to save money and reduce waste while still looking great.


The Issue


Eugene offers a few shopping options in the resale market, but many consumers complain about the overwhelming number of low-quality or overpriced options available. It can be difficult to navigate through the stores.


The Solution


An eclectic collection of vintage clothing, accessories, belts/bags, and records. Our aim is to provide unique and unusual items at affordable prices. We also offer superior customer service, which brings us consistent customers.


Target Market


The 541 Vintage’s primary market is young adults who are looking for unique and well-made clothing at a reasonable price. Common characteristics include:


  1. Interest in fashion, collection, and design.

  2. To stand out from the rest

  3. Interest in hunting for a vintage item for a bargain.

  4. To support resale as well as sustainable fashion.


The secondary target market is shoppers that love to hunt for a treasure or a bargain.


Competitors & Differentiation


Latest Alternatives


  • Several chain thrift stores (St Vincent de Paul, Buffalo Exchange, Plato’s Closet)

  • A few local vintage clothing shops (Eugene Jeans N.E.S.T. )

  • High-end clothing and vintage furniture thrift store (Oak Street Vintage).

  • Online-Web vintage clothing thrift shops (threadUP, Mercari, Etsy, eBay)


Why Use Us?


Each year, the amount of clothing that is thrown away rises. People are also buying clothing that is not:


  1. Seen by other people

  2. Made of lesser quality and constructed cheaply
  3. Contributes often towards poor working conditions for marginalized groups across the globe.


Thankfully, buying recycled items means that cheaply made fast-fashion pieces are kept out of the landfill while you stand out from the crowd in authentic vintage clothes. 541 has an extensive selection of carefully picked items in-store as well as online. Vintage has history, vintage has character, and vintage is synonymous with quality.


Funding Needs


The average rent for 700 sq feet of space in Willamette or East 7th is $14.61/YR. Rent is estimated at $9,900 per calendar year and $825 per per month. This does not include utilities and janitorial services. Remodeling retail space will be funded with $5,000. The initial inventory cost will be $15,000. The marketing cost to launch the business is approximately $2,000. The initial operational costs for 1 year include bills, salaries, and other expenses. They total $25,000.


Initial funding is required for $56,900.


Sales Channels


  1. Retail location


  2. Website

  3. Instagram

  4. Google Ads

  5. Facebook


    6. Marketing Activities


    1. Google Ads

    2. Instagram

    3. Ads on Facebook

    4. Affiliates/Influencers

    5. Website

    6. Blogs/Newspaper

    7. Flyers/Signage


    Financial Projections


    Ongoing expenses will include utilities, employee salary, taxes, advertising, and insurance. The store will need to have a constant supply of merchandise in order to function effectively. Another cost that will remain constant is advertising expenses. This includes website maintenance, paid ads, and affiliate/influencer contract costs.


    Revenue:


    • 2023: $65,000

    • 2023: $74,000

    • 2024: $87,000


    Expenses/Costs:


    • 2023: $56,900

    • 2023: $60,000

    • 2024: $70,000


    Profit:


    • 2023: $8,100

    • 2023: $14,000

    • 2024: $17,000


    Milestones


    • Obtain the necessary permits and licences — August 1, 20,23

    • Complete renovations — August 21, 20,23

    • Install shelves for merchandise — August 25, 20,23

    • Add initial store inventory – August 27, 2023

    • Take professional photographs of the space — August 31, 2023

    • Create a site, social media, and Google/Yelp accounts — September 1, 2020

    • Conduct interview and hire initial employees on September 5, 2023

    • Open to business — September 15, 2023

    • Google/Yelp forecast — November 1, 2023

    • Build a relationship tree of vintage clothes suppliers — December 15, 2020

    • Pop-up stand to be added at the local farmer’s market — March 15, 2023


    Team & Key Roles


    Owner/Manager


    Sales Associate/Cashier


    Assists the proprietor in consigning vintage clothes and identifying which items will sell. Operating a POS system to collect payment and maintaining a clean sales floor. Assisting with inventory and tracking, and also creating labels/displays for merchandise.


    Partnerships & Resources


    These partnerships have two goals: to make 541 Vintage more visible to its target market, and to increase 541 Vintage’s share of the local vintage retail industry. This will allow 541 Vintage to expand its inventory and keep it a leading collection of unique vintage items.

    • Donation based stores: Goodwill & Saint Vinnies can be used as a resource for vintage clothing that you then resell.
    • Property Sales: Form relationships with local property sales companies
    • Student Organizations Identify students who have strong fashion and sustainability goals and target them with flyers and emails.
    • University of Oregon Students Students with proof of ID get discounted rates
    • Creation 541 Vintage Fashion Show This allows local fashion designers/artists the opportunity to show their work while having access to 541 Vintage’s stock.