Clothing Retail Business Plan Example

There is a growing demand for an apparel store that caters to the African-American cowboy community in Houston, Texas. Mahogany Western Wear’s mission is to offer quality, name brand western wear in various sizes and styles to accommodate all body types. Our goal is to serve the local African-American cowboy community, as well as the Hispanic community, who struggle to find western clothes that fit their frames. We have three competitors within a 15-mile radius of our location, but what sets us apart is that we are African-American owned and aim to become a central hub for shopping activity in our target market. The company will start with three months inventory on hand for apparel and accessories, with the majority of our assets being in inventory. Our forecast shows that successful operation and building a loyal customer base will make us self-sufficient and profitable. We are seeking a $27,000 ACCION loan to cover site preparation, inventory, and operational expenses, and our financing also includes an owner’s investment of $35,000 and a short-term revolving line of credit of $20,000 for inventory replenishment during peak seasons. Mahogany Western Wear plans to meet the needs of the underserved western wear apparel market by providing a large assortment of sizes and focusing on customer preferences and retention. With our unique position as the only African-American owned western apparel store in Houston, we aim to obtain 80% market share and become a central hub for the local African-American cowboy population, as well as those who enjoy wearing western apparel. Our primary target customers are African-American cowboys in the southern part of Houston, with the secondary target customers being the growing Hispanic community in the area. We also expect to attract curious shoppers and seasonal purchasers. The growing participation of professional African-American cowboys has increased awareness of their role and contribution in the cowboy community, and this trend, along with Houston’s economic growth and status as a top city for new business, indicates a positive market outlook. Mahogany Western Wear will face competition from Cavender’s Boot City, Barbecue Hall of Fame, and Turner Saddlery, but our advantages lie in carrying a wide range of sizes, providing personalized customer service, strategic advertising and promotion, and continuously reviewing our inventory and sales. Our keys to success include meeting the needs of our target customers by offering a large assortment of sizes and providing excellent customer service. Our marketing strategy will emphasize sales promotion, niche positioning, and customer service with loyalty and retention in sales. We will also utilize the Retail ICE POS software for sales transactions and maintain a direct mail program to target our top customers. Mahogany Western Wear will be located in the heart of the African-American cowboy community, with 1,020 square feet of leased space. Our operations will handle all business deliveries and shipments through the store, and our company office will also be housed at this location.

Leave a Reply

Your email address will not be published. Required fields are marked *