How to open a lingerie store: step by step business plan
A business plan is one of the components of a successful launch of any business project. A clearly written plan containing information about the estimate, the steps to be taken, the calculation of payback and possible profit is the key to success for the entrepreneur.
It includes information on the financial strategy that must be calculated in advance, production and organizational plans, as well as information on the creation of a marketing plan, an analysis of the target audience and related documents. If you are interested in the idea of a lingerie store, read the detailed business plan.
How to open a lingerie store: starting to write a business plan
At the very beginning of the plan you need to specify information about the service itself. If you plan to open a lingerie store, complete information about this should be described at the beginning of the business plan. You can focus on the feature of the store – for example, how it will differ from competitors or will be located.
The description of the service should contain approximate prices for products, information about related products, which will also be presented in the store. Do not forget to block the target audience.
How to determine the target audience of lingerie boutique
CA (target audience) of the lingerie boutique will, by default, be girls aged 16 and over. If the store is focused on the sale of high-end goods, Central Asia should be moved towards the wealthy business women aged from 25 to 50 years. Lower-cost products can be sold to virtually any target audience.
The choice of the target audience is determined not only by age, but also by the solvency of your future clients. You can open a budget store, or you can – a Victoria’s Secret boutique. In the first case, you can earn on the quantity of goods sold, in the second – you are unlikely to have massive sales (if it is not a store on Rublevo-in the small Uspensky highway), but with each unit of women’s underwear you can get a substantial profit.
Market analysis for the salon underwear
The market for home goods and clothing with accessories recently dipped a little. If we consider the situation that has developed over the 2018th year, it can be noted that the cost of one unit of the goods was planned to decrease by at least 15%. Only large stores that have already managed to build up a certain clientele have won.
If you open the salon of underwear from scratch, it makes sense to pay special attention to probing the closest competitors. The main competitors are considered to be wide chains and stores that sell only branded products. The advantage may be the sale of brands from a lower league at reduced prices.
Another vector of attention of a novice entrepreneur is the franchise stores. Work on the franchise often turns out to be profitable, since the remaining models in stock can be redistributed to other stores of the same brand. Reducing the cost of production for some time also can not hit the franchise with the force with which it will hit a single store.
Perhaps you should think about the online store. Shops that operate only on the Internet and, for example, have self-delivery points in major cities, do not spend money on renting premises and wages of employees. Therefore, ordering things in such stores can be much more profitable than choosing the model you like in a regular store at home or in a shopping center.
The price policy of the salon of underwear is based on the expectations of the amount of profit. Therefore, if you want to get a return on investment as soon as possible and start making profits, it makes sense to determine the average cost of a set of laundry not higher than the market value. Special promotions dedicated to the opening of the boutique will allow you to dial the first customer base. Prices for goods can be increased within a week after opening.
Hosiery, which is related and sold with the linen, should not take more than five percent of the total sales. Thus, it is laundry that makes up 95 percent, on which it is necessary to focus in the business plan.
The choice of space for the store underwear
Due to the fact that the volume of goods allows you to sell several sets at once on one rack and significantly save space, you can count on relief in the choice of premises. There will be enough space of no more than thirty square meters. The minimum for such shops is ten squares. The volume of investments due to the small area of the room will be small, although it all depends on the location of the point.
Where to buy goods (underwear) in bulk
To start the store, small wholesale bases are excellent. This is the place where you can buy goods in bulk cheaply and provide a stock of underwear to open a store. Database contacts can be found on the Internet or social networks. Also there you can get a significant discount on the products offered.