Contents
Vintage Store Business Plan
At 541 Vintage, we excel in curating a collection of high-end, unique vintage apparel items available in-store and online. We provide clothing that isn’t found in the fast fashion industry, allowing individuals to showcase their distinct styles. This helps our customers save money and reduce clothing waste, all while looking incredible.
The Problem
While Eugene has shopping options in the resale arena, consumers often complain that the resale stores are filled with low-quality, overpriced options that are time-consuming to navigate.
The Solution
Curated vintage items, including clothing, accessories, shoes, belts, bags, and records. We aim to stock cool, bizarre, and one-of-a-kind pieces offered at sensible prices with excellent customer service that fosters loyalty.
Target Market
The primary market for 541 Vintage is young adults interested in well-made, cost-effective, and unique clothing. Common attributes include:
- An interest in fashion, collecting, and design.
- A desire to stand out.
- Interest in finding vintage items for a bargain.
- A desire to support resale and sustainable fashion.
The secondary target market is bargain hunters and treasure seekers.
Competitors & Differentiation
Current Alternatives
- Chain thrift stores (St Vincent de Paul, Buffalo Exchange, Plato’s Closet)
- Locally owned vintage clothing stores (Eugene Jeans, N.E.S.T.)
- High-end vintage furniture/clothing thrift store (Oak Street Vintage)
- Online vintage clothing thrift shops (threadUP, Mercari, Etsy, eBay)
Why Us?
Clothing waste increases each year. Simultaneously, people find themselves purchasing clothing that:
- Is seen on others
- Is of lesser quality and constructed cheaply
- Often contributes to poor working conditions for marginalized communities globally.
Thankfully, buying recycled items means keeping cheaply made fast-fashion pieces out of landfills while standing out in authentic vintage clothes. 541 offers a wide selection of carefully chosen items both in-store and online. Vintage has history, character, and quality.
Funding Needs
The target leasing space on Willamette and East 7th costs $14.61 SF/YR for 700 square feet. Rent is $9,900 per year, $825 per month, excluding utilities and janitorial services. $5,000 will go into retail space remodeling. The initial inventory cost will be $15,000. The marketing cost for the business launch is around $2,000. Beginning operational costs for a year, including bills and employee salary, amount to $25,000.
The total initial funding needed is $56,900.
Sales Channels
- Retail location
- Website
- Google Ads
Marketing Activities
- Google Ads
- Facebook Ads
- Affiliates/Influencers
- Website
- Blogs/Newspaper
- Flyers/Signage
Financial Projections
Ongoing expenses include utilities, employee salary, taxes, advertising, and insurance. Maintaining a consistent inventory will be a significant cost. Advertising expenses cover paid ads, website maintenance, and affiliate/influencer contracts.
Revenue:
- 2022: $65,000
- 2023: $74,000
- 2024: $87,000
Expenses/Costs:
- 2022: $56,900
- 2023: $60,000
- 2024: $70,000
Profit:
- 2022: $8,100
- 2023: $14,000
- 2024: $17,000
Milestones
Team and Key Roles
Owner/Manager
Establishes the business and oversees the hiring of employees, managing inventory, and long-term business prospects. Identifies avenues to establish new vendors/suppliers for vintage clothes, maintain a constant flow of inventory, and supervise daily activities.
Sales Associate/Cashier
Assists the owner in purchasing vintage clothes for instore consignment and identifying items that will sell. Operates a POS system, maintains a clean sales floor, stocks new inventory, and creates displays/tags for merchandise.
Partnerships & Resources
The goal of these partnerships is to create exposure to the immediate target market and increase 541 Vintage’s stake in the local vintage retail market. These resources will allow for continued expansion of inventory that will keep 541 Vintage a premier and unique collection of vintage items.
- Donation-based stores: Use Goodwill and Saint Vinnies as a resource to find quality vintage clothing to resell.
- Estate Sales: Develop relationships with local estate sale companies.
- Student Organizations: Identify organizations with a strong desire for fashion and/or sustainability and target them via email and flyers.
- University of Oregon Students: Give discounted rates to students with proof of ID.
- Creation of 541 Vintage Fashion Show: Allows local fashion designers/artists to showcase their works while giving access to 541 Vintage’s inventory.
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