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And even if you are successful at first, new competitors could enter your market at any time to steal your regular customers. Hence we will not hesitate to adopt successful and workable strategies from our competitors.
Another competitive advantage that we have is in the fact that we have state of the art facility and industrial sewing machines that has positioned us to meet the demand of African attires in Michigan even if the demand tripled over night or if we have a massive order to meet and emergency need.
Another factor that counts to our advantage is the background of our Chief Executive Office; he has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed him amongst the top flight fashion designers in Michigan. We are not ignoring the fact that our team of highly qualified and dedicated workers tailors and support staff will also serve as strength for our organization.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time. We are going to go all the way to ensure that we do all it takes to sell our African attires both in retail and wholesale to a wide range of customer.
The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Michigan. Please note that the above projection might be lower and at the same time it might be higher. In other to continue to be in business and grow, we must continue to make African attires for people and also sell our African attires to the available market which is why we will go all out to empower or sales and marketing team to deliver our corporate sales goals.
As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand cum label. Ensure that all our staff members wear our customized clothes and all our official cars and are customized and well branded.
Our Pricing Strategy When it comes to pricing for products such as African attires, there are no hard and fast rules, the prices depends on the discretion of the fashion designer; but the time spent, the design and also the materials used are part of what would informed the amount to be charged.
We are aware that there are some one — off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts. As the business grows, we will continue to review our pricing system to accommodate a wide range of clientele.
Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services sewing or the purchase of our products African attires. Start — Up Expenditure Budget In setting up any business, the amount or cost will depend on the approach and scale you want to undertake.
If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. Please note that this amount includes the salaries of all the staff for the first 3 month of operation.
No doubt raising start — up capital for a business might not come cheap, but it is a task that an entrepreneur must go through. Olamide Clement and his immediate family members.
They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start — up capital to 3 major sources. These are the areas we intend generating our start — up capital; Generate part of the start — up capital from personal savings and sell of stocks Source for soft loans from family members and friends Apply for loan from my Bank N.
All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount. Sewing Business Plan — Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure.
We know that one of the ways of gaining approval and winning customers over is to offer our services and products a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that with focus and if we put great effort that is to put in place all these, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Completed Opening of Corporate Bank Accounts: Completed Opening Mobile Money Accounts: Completed Opening Online Payment Platforms: In Progress Application for business license and permit: Completed Purchase of Insurance for the Business: Completed Leasing of a facility and renovating the facility as well: In Progress Conducting Feasibility Studies: Completed Generating capital from family members: Completed Applications for Loan from the bank: In Progress Writing of Business Plan: In Progress Recruitment of employees: In Progress Purchase of industrial sewing machines, weaving machines, sewing materials and accessories, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress Creating Official Website for the Company: In Progress Creating our catalogue — In Progress Creating Awareness for the business both online and around the community:business plan pakistani restaurant the stationery shop boutique in fast food pakistan pdf,business plan of restaurant in pakistan pdf small urdu pakistani dairy farming to produce milk and cattle breeding detailed project,business plan pakistan pdf smeda how to start a cattle farm steps with pictures fast food in,most profitable business in best ideas fresh air plan pakistani restaurant.
The main objective of the pre-feasibility studies prepared by SMEDA is to provide information about investment opportunities to the small & medium enterprises (SME’s). A typical pre-feasibility study provides: Comprehensive information for investment opportunity in a business.
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Boutique business 1. Pre-Feasibility Study BOUTIQUE (Women Designer Wear) Small and Medium Enterprise Development Authority Government of Pakistan timberdesignmag.com HEAD OFFICE 6th Floor LDA Plaza Egerton Road, Lahore Tel , Fax: Website timberdesignmag.com [email protected] REGIONAL OFFICE PUNJAB 8th Floor LDA Plaza Egerton Road, Lahore .
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