A Clothing Retail Store In Andhra Pradesh

A Clothing sell retention In Andhra PradeshIntroductionIt is situated in southern coast of India and its capital is Hyderabad. Telugu is the official language and kuchipudi is the commonwealth dance of Andhra PradeshName of the store- SHINNING STAR STOREDescription of clothing retail storeCloth retailing is one of the top retailers in India because direction has become very much popular among youngsters and even middle age. In India western culture is followed nowadays and our country is following their style like anything. fit the owner of clothing retail store is not that easy it requires lot of thinkning and hard work. In this venture we should know the ins and outs of the fashion retail business. The hours of doing go out be Monday to Saturday 10 a.m to 8 p.m . The competitors are shoppers stop , Westside , palem leathers , pantaloons , Bombay store , Max , etc.Environmental scanning of Andhra PradeshI am disruption a clothing retail store in Andhra Pradesh and the city that i obligate selected is Hyderabad .Andhra Pradesh. The retail industry in Hyderabad is on the rise. The reason for choosing this city is that its sixth metropolis in India , development ,advancement of the infrastructure , due to its size and population. The clothing retail store will be free from any political and loving barrier as I am opening according to government policies and society.Retail store identity-The brand name is KELVIN and logoTypes of retailersMy store is a speciality store majority of western and rest is Indian befools . Its for family obtainCompany ownershipMy store is organised as a sole proprietary me and my manager handle in all his administrative and managerial duties of the clothing retail storeVision of the retail store-To sell carrefours according to customers and satisfy their needs to stool long term relationship and to stay in the trade for long run. To be best(p) clothing retailer among other retail store.Mission of the retail store-To sat isfy customers in terms of services and provide them best quality clothes according to their tastes and preferences at cheaper rate than competitors and assortments of all sizes and styles. We believe in providing clarified and superior services and making shopping a relaxed and pleasurable experience.ObjectivesThe primary objective is to provide one-stop-shopping for all the members of a familyTo create shopping environmentTo manipulate shopping convenient.To attain a position in urban realms of HyderabadTo build long term relationship with customersTo gain profitTo ensure that our customers get the best value, quality and satisfaction from using the services granted by my storeGoalsTo become a profitable businessGain profitsto provide them sugared stockSelling clothes according to new fashionGoodwill in the marketEstablishing for a long runTo create customer and seller relationshipTo maximise customersBusiness plan-Without business plan we cant move forward in opening a retai l store. too It involves two sequence and money budget. We need to frame out our business policies like working hours ,rules and regulations, pedigree and need to work out on our advertising and marketing plan as well as employee details ,expansion plans, use of profit, investment and partnership policies.2. Selling products of the retail store-Our products will range from basics to stylish wear down.Womens clothes ,childrens wear ,mens wear ,casual and sports wear .Services-Free deliveryE-retailingCredit card paymentOnline transactionGuideParking facilitiesHelp deskProper assortmentDiscount offers pleasant billing proceduresOccasional offersOne stop shop3.Marketing planAll goods will be purchased according to the customer tastes and preferences and all sizes of men , women and children.Pricing dodgeWe base the product lines that we carry on their reputation and quality as western and Indian wear apparel. Most of our lines come with a suggested retail bell that we will follow. We will provide discounts and special offers seasonal workerly and occasionally. The most important thing is that we will provide them products at cheaper rate than competitors.Promotion strategyIt is through byadvertisingproviding free samplesposters and bannersonline advertisingpamphletsbrand ambassadorradio , etc.Positioning-We will offer name brand western and Indian wear in a larger assortment of styles and sizes that arent always readily available in the mass. To give customers excellent experience through our stores and provide them whole product line and services.BarriersCompetitionInput costInflationLess productive labourIncrease in taxesEconomies of scaleSWOT psychoanalysisStrength-Demographic factorsshop ConvenienceAvailability of resourcesOrganized RetailWeaknesses-New retail storeTaxation hurdleDeveloping supply chainOppurtunities LocationMarket step-upE-RetailingLifestyle and convenient retailingThreats-Competition from shoppers stop,pantaloons,InflationMarket analys is of the retail storeThere are four factors which are taken into amity when market analysis is done for the clothing retail store-target market- I am opening the store in Hyderabad city in suburban and urban areas. As the popularity increases we expect to see an assortment of curiosity seekers, and local residents as well as the seasonal purchases. And for those who find difficulty while buying western and Indian clothes at one place.customers- they will be of high and middle income groupcompetitors shoppers stop , Westside , Bombay store , pantaloons , palem leathers , etc.Fashion- seasonal or the occasional and the latest trends prevails in that city.Market share-Our intension will be to gain 80% market share by focusing on positioning , location , other brands ,promotions, etc.Organisational structure-Owner line managerCashierSalesmen4.Operational plan-LocationI am opening this retail store in HyderabadThere are major factors on which location depends your ability to pay for i t ,land costthe visibility of that location to the target segment you plan to focus on. no. of other clothing retail store in that areaLifestyle of that particular areaDemographic factors like age ,sex ,etc.Competition in that areaThe place is 1000 square feet and has been taken on lease for two years.Key supplier-Supply chain focussing is very necessary because of inventory management so that we will earn maximum if at that place will be no poorage of stock anytime. The clothes will be imported from Delhi and Mumbai.Store layout-We follow the pattern of free form layout as it provides relaxing environment and facilitates shopping and browsing. Products are placed in a systematic manner. The store will be double storeyed on ground floor kids section, 1st floor for womens section and 2nd floor for mens section. Well provide convenient shopping to our customersCredit policy-Being a retail environment we will not be selling on credit well accept change , checks , and all major cred it cards because through there is reduction in bad debts.Merchandise Management SystemThe order received from a marketer are kept in warehouse and inventory is raised when there is shortage of stock . Therefore there is need to keep a genius of total orders received and sale. There is a need to manage the merchandise so as to keep minimum level of stock which should be there all the time in store. To run retail store well we have to look upon our inventory time to time. We should give both the quality and compatibility to customers.Store management-Its very important for the retail store to manage their store. Employees will be encouraged to work in their creative , physical and intellectual boundaries. Duties will be delegated according to strengths and weakness . All decisions are made in-line with the company objectives and employees tasks are delegated based upon their level of expertise , creativity ,etc. Medical benefits are also given to employees . All Entire workforce of the clothing retail store.Owner1 store manager3 cashiers6 salespersonSecurity guard pitch vans, bikes and boysMerchandise will be purchased according to companys mission and customer focus of outfitting all sizes including womens plus sizes , mens big and tall and for kids of 1 day to 16 yrs.I would use the round track for displaying the clothes in the retail store.Human resource management-In clothing retail store we need both skilled and unskilled labour and follow the policy of customer relationship management.I would follow these steps in my clothing retail store-Retail market financialRetail site locationCustomer relationship management (CRM)Information Distribution system.5. Financial planRequirementThere is a need of 5 crores to open clothing retail store . We have planned to open a retail store that is in Hyderabad. Supplement financial backing is also required to work on site preparation , inventory , and operational expenses. The loan amount appears in the long termUse of breedFunds will be used to pay renovation , construction ,sales counter ,painting, carpeting , lighting, dcor display fixtures .We will also purchase inventory , cash register and computer equipments and also an inventory management system and rest will be the operating cost. In future well reinvest rest period profits into company expansion and personnel.Projected cash flowOur business will collect immediate payments from the customer. So it will much likely to the income statement. Our cash flow statement clearly demonstrates our ability to cover all the bills.Projected balance sheetClothing retail store will launch in Hyderabad with an equity of 2 crores and 1crore in loans. Credit amount and suppliers term for inventory will appear in the balance sheet as a short term liabilities. All the other details will also be shown in the balance sheet.Customers on Average/dayExpected Growth on saleSale/DaySale /MonthSale Yearly140*100 on Average140004200005040000Second Year25%175005 250006300000 ternary year25%218756562507875000Expected Break Even Point/storeBreak even analysis has been completed on the basis of average be/prices.The following chart shows what we need to sell per month to break even, according to these assumptionsExpected Break Even Point/storeBreak Even AnalysisPV Ratio=Contribution*100ParticularsAmountSalesSales5040000Variable cost325200035%Contribution1788000BEP Points=Fixed terms/PV RatioFixed Cost13575003826510Net Profit430500Future expectationsIf we will achieve and exceed our sales and profitability goals we will increase the product line and expand our line of brands with those that have been repeatedly requested by our customers.Keys to success of the retail storeTargeting customerAssortments of all sizes to fit the customersAdvertising and promotion in targeted areasLatest trends in the marketValuable customer service