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Executive Summary: Stunning Classic Wear

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EXECUTIVE SUMMARY Stunning classic Wear is a new apparel store that caters a variety of clothing products mostly to the office workers in Melbourne. Our name also suggests that we focus on providing more classic clothing and accessories and service ourselves to be at the top position in the clothing segment. We are among the first Store to provide classic clothing in Melbourne. We seek to achieve 80% market share and become the primary hub for shopping in Melbourne as well as others from outside the city. Stunning Classic Wear will be located on 201 Spencer St. in Melbourne. Stunning Classic wear has strategically centralized itself in a centralized location directly to our target market. The entity believes that this strategy will lead …show more content…

Company ownership Stunning Classic Wears is designed as a partnership between two partners Stephen and Tevin. Stephen will be handling the administrative and the managerial activities whereas Tevin will be a silent partner (Pride, Hughes & Kapoor, 2005). 2.2. Startup- summary Stunning Classic Wear’s incorporation cost is listed as below. The company will begin with a five-month inventory on hand for apparel and accessories. This is the primary revenue generator. Most of the company’s assets will reside in the inventory. The opening days cash on hand will be $400. The purpose of this entity is to secure a $16,700 ACCION loan. The supplement finances are required to support the inventory, site preparation and operational expenses. The loan will be categorized as a long term liability. The other financing will encompass owners’ investment amounting to $7,400 and a short-term revolving credit of $5,000 specifically during the high receipts months for replenishment (Haislip, 2011). Successful operation and winning of the customers’ loyalty will drive the company to be independent and self-sufficient and profitable in year two. 2.3. Company Location and …show more content…

It offers the registered retail buyers with a wide variety of brands, seminars, educational programs and special programs. It will be our main sourcing in servicing all our retail services. 3.5. Technology The establishment of retail apparel tends to have a high numbers of SKUs due to the level of inventory. It is so vital to advance inventory and sales program to be utilized to maintain the sale of products. Stunning Classic Wear will use the Peachtree Accounting Software for the accounting and all financial activities (Warren, Reeve & Fess, 2005). To manage the inventory, the company will use Retail I.C.E (Inventory Control Expert) software. This is Windows- based software that makes it easy for the single, small retailer to manage their inventory and point of sales functions all in one (LU, 2007). The company’s business plan will be generated and reviewed on a semi-annual basis by using the up to date version of business plan pro from Palo from Alto software. This will be reviewed quarterly to keep track of our financial goals to make sure they meet our goals. 3.6. Future

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