Thursday, November 15, 2007

Project Plan

My project plan is specifically my most important steps I will be taking to start my enterprise. they are the events I will need to happen to have an operating store.

Project Plan
(Clothing Boutique)

The easiest and first part of planning a business is to choose a business structure. I plan on having the basic structure, a sole proprietorship. It’s a simple, informal structure that’s inexpensive to start. After researching, I’ve learned that the owner operates the store and is liable for all debts.
One of the most crucial factors I’ll need is a place to lease or rent. I would need this to have a place to run my store. As I stated in my mission plan, I would want my location to be on a high traffic street with lots of tourists in Newport, RI. I would also want it to be next to, or near other retail stores to keep a consistency for the shoppers. This will make it easier and more enjoyable for them.
Every entrepreneur retailer needs some sort of license to run a business. The chief license I will need is a State Business License. This is for tax purposes and other business functions. I’ll be able to obtain this at a near by Small Business Assistance Agency.
Another very important factor I will need is employees. I would need employees to help me run my store. I would accept part- time or full-time employees 16 years or older, preferably girls, and have an interest in fashion. They would have to be respectful, out-going, responsible, and have outstanding customer service skills. After all, this is a customer based business. I also hope to have at least two full-time employees to help me at all times. Ultimately, I believe I would need at least 5 employees.
Before my grand opening, I’ll need my boutique to be stocked with trendy clothing and fashionable accessories. I can obtain merchandise at a market that provides everything at wholesale. Vendors come from al over to individually sell their goods to small businesses like me. I will travel at least once every three months and stock up for each season.
Certainly I would need money to establish my small business. In order to retrieve the money I would have to apply for a Small Business Loan. To do this I will need to know what kind short-term and long-term financial needs I will encounter. To figure this out I will be required to make a financial plan.
One of my biggest fears would be business failure. I’ll want to find and work with someone who has experience to guide and assist me. I could find professionals that are available to give me advice, or to council and train me. I can also join a Small Business Development Center which is an organization that will be able to help my business grow and flourish.
In order for people to know about my store I’ll need to advertise. I’ll advertise in monthly, local magazines and tourists information booths. When tourists come into town and want to know where the good shopping areas are, I’ll be sure they’ll know to come by my store. However, I will keep my advertisements to a minimum. I would not want to look desperate.

Every boutique needs decorations. Most people would have an interior designer come in and help, but I think I’ll be able to do it alone. I’ll beatify my store in a way it will catch every woman and girls eyes while walking by. I’ll decorate in a classy, contemporary style with soft, romantic colors. There will be sheer curtains and chandeliers cascading light throughout the store, giving it a luxurious feeling. Girls will feel gorgeous and elegant shopping in my store.
Equipment is a very broad word for all that is needed for my boutique. I’ll need things from computers to pens to many other things. I’ll even need cleaning supplies to keep the store tidy, and display shelves to show off my merchandise. All of these items will be essential to run my boutique.

No comments: