The New Black Styling Business Plan
-
Upload
leina-kameyama -
Category
Documents
-
view
213 -
download
0
description
Transcript of The New Black Styling Business Plan
1
TABLE OF CONTENTS
Company Product & Description
Services Why Us?
Target Market Price List
Our Mission Customer Profile
Market Research & Competition
Market Projections Barriers to Entry
Marketing Social Media
Logo & Ad & Slogan Public Relations &
Advertising Events
Marketing Expenses
3 4 5 6 7 7 8 9 9 10 11 12 13
2
Pricing Elements Competition
Sales & Distribution Operations
Financials Startup Expenses
Break Even Analysis Project Timeline
Appendices
14 15 16 17 18 19 19 20 21
TABLE OF CONTENTS CONT.
3
Editorial and commercial styling for photo shoots and video/film
Personal styling
>Closet organizing >Personal shopping >Consulting
The Nü Black brings a fresh approach to styling and an aesthetic different to what is prevalent in the fashion system in Chicago.
Gender: men and women Age: 18-35 Location: Chicago and Chicagoland area Income: $20,000+ Marital status: single and married Education: college and post-graduate Occupation: photography, journalism, finance, publishing Ethinicites: all
SERVICES
WHY US?
TARG
ET M
ARK
ET
COMPANY &
PRODUCT DESCRIPTION
4
PRINT VIDEO/FILM
ADVERTISING
Consulting: first hour free, $85/session Personal Shopping: $200/day Closet Organizing: $80/hr
PERSONAL
$200/gig Back-up fee: $50
PRICING
5
OUR MISSION
To help clients develop and express their own personal style in an honest and efficient manner. We strive to apply a nü aesthetic with styling through imagery and people.
6
CUSTOMER PROFILE
Name: Rei Sargent Age: 25 Occupation: Nurse Annual income: $70,000 Education/Degree: BS in Nursing Residence/Type and location: Apartment, Chicago Marital Status: Single Children: None Leisure Activities: Cooking, Music, Hiking Vacation/Travel: Summers in Tel Aviv, Israel Favorite Stores/Designers: Marc Jacobs, Zara, Topshop
7
MARKET PROJECTIONS
MARKET RESEARCH &
COMPETITION
Size of Target Market in U.S.: 300 people Size of Target Market in Chicagoland: 176 people Potential Size of the Market: 1,553,280 people This includes people who live in the United States, who live within 10 miles of Chicago, who like fashion, street style, thrifted goods, editorial style work, and styling.
We plan to maximize on advertising to garner a faithful clientele during changing seasons. This goes hand in hand with tax refund season. Many people like to treat themselves with their tax refund money, and tax refund season is usually around the time when it begins to get warmer out. The shopping-on-a-budget trend is quickly growing, and there is a market of people who want to thrift their wardrobes or shop on a dime, but don't know how to go about doing so.
8
BARRIERS TO ENTRY
The current market demand is not visibly seen, but according to Facebook, there is a growing interest in stylist services. This shouldn't be too tough for a startup because there are not many barriers to entry for The Nü Black Styling Firm because there are not many other styling firms that do what we as a company do. There are many trends that we will use to our advantage to increase the amount of business and revenue. Trends like changing seasons, tax refunds, and thrifting give The Nü Black Styling Firm a leg up on the competition. When seasons change, so do wardrobes, and people need to go shopping.
9
SOCIAL MEDIA
MARKETING
In order to reach our target audience and beyond, we will utilize many
mediums of social networking.
An account will be managed on the following websites and apps:
Facebook Twitter
Virb (Company site) Instagram
Wordpress Youtube
Vine Spotify
Pinterest Tumblr
11
PUBLIC RELATIONS
ADVERTISING
Facebook Ads Google Ads Refinery29 Chicago street fashion blogs Red Eye Boutiques (Pluggers and pamphlets)
Coverage in : CS Magazine Chicago Mag Men’s Book Magazine Local news
12
EVENTS
We will host parties where local designers and vendors can sell their pieces and sign up for consultations. A gallery or loft space will be rented out and drinks will be served. These parties will serve as a place where people can network, shop, and socialize.
What will be needed: Space DJ Beverage sponsor Snack sponsor Event photographer (ASL Media) Racks Advertising Signage
13
MARKETING EXPENSES
Facebook Ads $10 day $50 for campaign
Pluggers $30
Space Free DJ $75 Beverages Sponsor Snacks Sponsor Event Photographer $100 Racks $50 Advertising/Signage $80
14
PRICING ELEMENTS Pricing was determined by
researching the competition and taking into consideration all of the
services we provide. Most importantly, we thought about the
wants and needs of our target customer.
We look at the client’s lifestyle, budget, and day-to-day activities. He or she will be investing in the development of an individual style and the experience of self-discovery that will last a lifetime. We don’t just give out strict rules; we provide guidelines and eye-opening possibilities. For our contractors, we offer an unparalleled point of view, professionalism, and the proper resources to communicate an exact visual statement.
15
COMPETITION
Akasha Sty l is t Initial consultation: $50 (up to 1 hour) Closet check-up: $75 per hour Personal styling: $150 per hour Personal shopping for client: $50 per hour Personal shopping with client: $100 per hour Dressing for special occasions, events: $125 per hour Wardrobe photo shoot: $200 per hour
16
SOCIAL MEDIA SALES
Our approach sets us apart from the competition because we want to show
our clientele every aspect of our business. Exposing the backstage.
To keep our exclusivity, we will also
rely on the word-of-mouth tactic, offering compensation (i.e. giveaways, goodies, and discounts) for referrals.
SALES & DISTRIBUTION
17
The Nü Black Styling Firm will work out of our own studio until enough funding is acquired to secure a bigger space in which we can work, host, and live. Our supplies come from office supply stores, going-out-of-business retail stores that are selling their fixtures, and fabric stores. Hunting for fixtures from retail shops that are ending will allow us to obtain unique pieces at the most reasonable prices.
OPERATIONS
18
STARTUP EXPENSES
FINANCIALS
One T ime Costs $600 Styling Kit $200 Fixtures Per Month $10 Electricity $50 Wi-Fi $200 Transportation (Gas) $800 Labor Occas iona l Costs $30 Paper Advertising $300 Facebook Ads $305 Per Event $50 Office Supplies $1060 Per Month Af ter 1s t Month $2545 Tota l S tar tup Cost