Passion Soles is a women-only shoe store in Eugene, OR. Eugene needs a high-end shoe store that caters to women. The current selection is not sufficient. Women looking for a unique pair of shoes have to travel to Portland often in order to find them.
Passion Soles will stock a vast array of shoes. Generally, the size of Passion Soles’ selection is cost prohibitive due to all the different sizes that must be stocked per style. Passion Soles operates a unique business model which allows them to offer an extensive selection for a low price, stocking only one size per design. Passion Soles works with a wholesaler to ensure that they have the ability to deliver the customer’s desired size within two working days. Additional charges may apply for overnight shipping.
Passion Soles will take advantage of Holly Heels’’s knowledge about the women’s shoe retail industry to gain market share. Profitability will be achieved by the end of month ten, and revenue will exceed $284,000 in year three.
1.1 Keys for Success
A high-end shoe store for women with a wide selection of products and customer care is key to your success.
1.2 Objectives
The following are the goals for the first 3 years of operation:
To create a product-based retailer store with the primary goal of exceeding customer’s expectations.
To increase our client base by 20% annually through exceptional customer service and selection.
It is necessary to have a sustainable cash flow in order to start up a business.
1.3 Mission
Passion Soles’#8217 mission is to provide Eugene an exclusive selection of women’s shoes and exceptional customer service. We are here to retain and attract customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed our customers’ expectations.
One, Two, Step! Only the finest quality in women’s shoes will be carried by us. From the basic style of sandals and flats, to the more trendy styles of boots and stilettos, our selection will include everything you need. We will be purchasing through sales representatives and manufacturers in a variety of sizes, colors and style to fit our customer base. Accessory sales will make up the majority of merchandise.
One, Two, Step! Chloe Goodlowe organized the company as a sole proprietorship. One, Two, Step! Temporarily it will be located at Houston’s 123 Shoe Lane until it can expand to a full-fledged store.
The hours of operations will be Monday through Friday from 10 a.m. until 6 p.m., Saturday from 10 to noon and 8 p.m. (closed Sundays). Customers can purchase directly through our website or VIP Showcase Events. During Christmas shopping season, there will be extended hours.
All merchandise will follow the company’s mission. Management will use customer feedback, suggestions, as well as sales reports, to decide whether or not to remove specific brands, styles, sizes, or other products.
The Concept
Recognizing that the market is very competitive for quality shoes in extended sizes, one, two, and step! Targeting niches will reduce competition. Generally, focusing on other retailers whose prices are too high, lack quality, and are not’shoe size efficient’ will help to minimize that competition.
One, Two, Step! There are three keys that will lead to success. The first is establishing a high quality, high value relationship with its vendors and customers. It is also important to deliver their products on time and in a reliable manner. Reliable administration is the last key to success. This business plan provides the structure necessary to achieve this last key.
One, Two, Step! is set up as a home-based business, with plans for expansion into a store/boutique in the near future. This will be the most cost-effective arrangement but provide the required level of service and support.
The Market
One, Two, Step! There are potential customers waiting patiently to be contacted and the company’s growth rate will be 3%. One, Two, Step! Our prices will never be as high as the competitors, but they will not affect the quality of our shoes.
We will also offer a sales promotion every month, such as:
Buy one, Get One Half Price
Buy one and get one
Shoes from the previous seasons at half-off
#8220One, Two, Step!#8221 dollars (for every $50 purchase, the consumer gets an additional 20% off their next purchase).
One, Two Step, Step! The company will develop its own shoes, custom-made for women and men .
Sales Strategy
Our annual gross sales will not exceed 5%. We will use many different approaches including our website with free shipping and postcards. Business cards are also available. Word of mouth is another option.
Objectives
The objectives of One! Two! Step! are:
To sell fashionable and elegant shoes, sizes 5-13, that can be worn by every woman.
To receive a 50% profit margin within the first year.
To provide exceptional customer service.
To realize a net loss of $5,000 in year one and $15,000 the following year.
Mission
The One, Two, Step! The mission of the One, Two, Step! is to offer high-quality accessories and shoes by name brands in a range of sizes and styles that will suit every stylish woman.
Keys to Success
To succeed in the women’s shoe industry, you must take One, Two, and Step! must:
Take a selection of shoes that will suit your personality, in varying sizes.
Customers will receive top-notch customer service in a southern atmosphere.
Promote and advertise in all areas to ensure that our customers learn about One, Two, and Step!
Continuously evaluate our inventory and sales, and adjust our inventory levels accordingly.
Lastly, be sure to stay up-to-date with the latest styles in women’s shoes.