Handles any other technological and IT related duties. What, when, why, how, where you’re using the feasibility Study?Explain with your own word. Defining job positions for recruitment and managing interviewing process, Carrying out staff induction for new team members, Responsible for training, evaluation and assessment of employees, Interfaces with third – party providers (vendors), Ensure that clothes and fashion accessories are properly arranged, Supervise the entire sales staff and workforce, Handles any other duty as assigned by the CEO, Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams, Help to ensure consistent fashion trend and quality of clothes and fashion accessories on our rack, Responsible for the purchase of clothes and other fashion accessories for the organizations, Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors. One major trend over the years in the clothing store (boutique) industry is that, clothing stores (boutiques) have experienced tremendous growth in all cities in the United States of America and in most parts of the world. Begin to assess the demand for your idea. Clothes Line Feasibility Studies 3. What will be the cha… Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. Before choosing a location for Mary & Mack Clothing Store™, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Los Angeles – California and in every other cities where our chains of clothing stores will be opened. Below are the sales projections that we were able to come up with for the first three years of operations; N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and the arrival of a competitor in same location as ours within the period stated above. Thanks for watching! If you keep tabs on the clothing store business and retailing business generally, you would have noticed that It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their store to meet their needs; in essence, the use of technology help retailers to maximize supply chain efficiencies. Here’s a … the drafting a business plan. The feasibility study outlines and analyzes several alternatives or methods of achieving business success. Performs cash management, general ledger accounting, and financial reporting, Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for the organization, Serves as internal auditor for the organization, Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services, Manages administrative duties assigned by the store manager in an effective and timely manner, Consistently stays abreast of any new information on Mary & Mack Clothing Store™ products, promotional campaigns etc. We are well positioned to take on the opportunities that will come our way. The TWC Alteration Shop will focus on a niche market segment, the captive clients or those in the vicinity of the TESDA Complex. It is based on extensive investigation and research to support the process of decision making. The proposed business venture should preferably be located in any of the major urban cities of Pakistan; to reduce initial capital investment, the proposed unit is to be established at rental premises. We know that one of the ways of gaining approval and winning customers over is to retail our clothes and other fashion accessories 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. The business plan must come after the feasibility study and if the projected business idea is not feasible, a person must progress the business plan until he or she revises the business idea. It also provides information about all the equipment needed and the costs, including where to buy. The fact that we are going to operate our clothing store in one of the busiest district in Los Angeles – California provides us with unlimited opportunities to sell our items to a large number of people. We hired experts who have good understanding of the clothing store / retailing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Los Angeles – California. The cost of laborand material that will be incurred for the expansion. As a matter of fact, it is common to find clothing stores located alongside a busy road, in a busy community, in an urban area, or near a railway or railroad station or other transport hub. One thing is certain; we will ensure that we only retail quality and affordable clothes and other fashion accessories in our clothing store. 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. We are in business to retail our clothes and fashion accessories to the following groups of people; Mary & Mack Clothing Store™ is launching a standard and registered clothing store that will indeed become the preferred choice of residence of Inglewood, Los Angeles – California and in every other locations where our chains of clothing stores will be opened. NATIONAL COLLEGE OF BUSINESS AND ARTS TRENDY BUFFET A Feasibility Study Presented to the Department of Business Administration National College of Business and Arts Taytay, Rizal In partial fulfillment of the requirements for the Bachelor’s degree in Business Administration By Abejero, Neil John D. Gonzales, Kaye Trina C. Lutao, Erica B. Merced, Vince Robin C. Pulumbarit, Roy … The feasibility study helps to narrow the scope of the project to identify the best business scenario(s). The feasibility study is an evaluation and analysis of the potential of a proposed project. Generally, Lovebada Bango Laundry Shop is seen to be feasible upon studying its location, market demand and the factors affecting the market. Sustainability and Expansion Strategy, How Non Profit Organizations Benefit the Society/Community, Footwear (Shoes, Canvas, Sandals and Slippers et al), Other fashion accessories (belt, handbags, sun shades, caps, hats and wristwatches et al). Beyond retailing quality and affordable clothes and fashion accessories in our clothing store, will ensure that our customer care is second to none in the whole of Los Angeles – California. Conducting a feasibility study involves the following steps: 1. We have conducted our market research and we have ideas of what our target market would be expecting from us. Are you about starting a clothing store? They are always ready to expanded into new markets and of course adapt to the ever changing trend in fashion and increase sales. Mary & Mack Clothing Store™ will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. leading the development and implementation of the overall organization’s strategy. We are in the clothing store (boutique) business to make profits at the same to give our customers value for their money and time whenever they patronize us. In response to the ever growing demand for clothes and other fashion accessories, clothing store owners have opened additional stores thereby creating chains of stores across different cities. This particular pre-feasibility study is for setting up a Polo T-Shirts Manufacturing Unit. Mary & Mack Clothing Store™ will generate income by retailing the following items; It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. A definition of feasibility study with examples. The feasibility study shows you the details of the laundry business, the challenges, the benefits, what is required to startup as well as the profitability. Fashionista's clothing selections and exclusive personal style services include a detailed Style Assessment, which will ensure that our customers are well dressed. One of our business goals is to make Mary & Mack Clothing Store™ a one stop fashion shop. The business plan deals with only one alternative or scenario. We have been able to conduct a thorough feasibility studies and market survey and we know what our potential customers/residence within the location where our clothing store will be located will be looking for when they visit our clothing store. 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 five years or more especially when we start selling our franchise or running chains of clothing stores. This clothing business is the focus of this feasibility study. We ensured that our facility is easy to locate and our outlet is well secured and equipped with the various payment options available in the U.S. The clothing store (boutique) industry is indeed a very large industry and pretty much thriving in all the parts of the world. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. This is one of the reasons why a business such as a clothing store or a boutique as some folks would want to call it, are in existence. A Business Feasibility Study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes and assessing the range of costs and benefits associated with several alternatives for solving a problem. the feasibility of the business venture. One thing you should note in fish business is that the size of the fish determines the market. One thing is certain; we will ensure that we have a wide range of quality and affordable clothes and fashion accessories from top fashion labels available in our store at all times. A feasibility study is a determining factor that evaluates whether the project is financially and technically sound and viable. The main reason why you would create a feasibility study document is to check whether or not you should commit your time and resources towards a project. Our mission is to establish a clothing store business that will make available a wide range of clothes and fashion accessories from top brands at affordable prices to the residence of Los Angeles – California and other cities in the United States of America where we intend opening our outlets and selling our franchise. Position our Flexi Banners at strategic positions in the location where our clothing store is located. Prepare a projectedincome statementIncome StatementThe Income Statement is one of a company's core financial statements that shows their profit and loss over a period of time. Your friends and relatives may all rave about the jam that you make and give as gifts. One thing is common with clothing store business, the larger a clothing store (including varieties of quality clothes and fashion accessories at affordable prices), the larger the numbers of customers that will patronize them. The industry is defined as single-establishment stores only. Clothing Store Organizational Structure – Job Description & Roles, How to Start a Plus Size Boutique Business in 14 Steps, How to Make Money Selling Clothing Boutique from Home, 32 Best Boutique Business ideas & Opportunities for 2021, 16 Best Baby Boutique Franchise Opportunities for Sale, 10 Best Clothing Boutique Franchise Opportunities for Sale, Starting a Baby Boutique – Sample Business Plan Template, 7 Easy Steps to Make Fast Money on EBay Selling Clothes, 5 Easy Steps to Make an eCommerce Website That Sells Clothes, 14. Writing a professional feasibility study is good business practice, especially for companies that are planning on raising many millions of dollars and want to have the knowledge readily available to make an educated decision about a projects viability like a Apparel project. This is determined by the market forces (demand & supply). Cities A city studies at the feasibility of closing a section of the city to traffic in order to stimulate economic activity in the area with pedestrian zones.They collect feedback from people who commute to the area, neighborhood residents and businesses. For example, it is common to see items with prices in this format; $3.99, $99 and $199 et al as against $4.00, $100 and $200. In some countries like the United States, united kingdom and France et al, clothing stores are known to be opened 24 hours a day and 7 days a week. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy. In other to continue to be in business and grow, we must continue to sell the products that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. At Mary & Mack Clothing Store™, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. It makes sure the project is economically feasible so the business owner can be warned to pursue the project or not. It may be the case that consumers in general aren’t willing regularly spend extra for an organic, homemade product. FEASIBILITY STUDY 1. In between there are [people who are mainly the ones who go between the manufacturers and the consumers. We have enough parking space that can accommodate well over 25 cars per time. As a result, the start of the recession and its lasting effects on the US economy hurt industry performance. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop. Application and Obtaining Tax Payer’s ID: Application for business license and permit: Leasing of facility and remodeling the shop: Drafting of Contract Documents and other relevant Legal Documents: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: Creating Official Website for the Company: Creating Awareness for the business both online and around the community: Health and Safety and Fire Safety Arrangement (License): Opening party / launching party planning: Compilation of our list of designers’ labels and fashion accessories that will be available in our clothing store: Establishing business relationship with vendors – wholesale suppliers of various brands of clothes and other fashion accessories that we intend retailing. The purpose of this report is to determine project parameters and define solutions to the problem that Further needs analysis . Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions. General Info On Feasibility Study And Business Plans. Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups clothing stores in the United States) in the industry. The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. This can also be the reason why so many clothes manufacturers have sprung up in the last centuries; this is so that they are able to meet the teeming population of people who wear clothes. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the public. Over the years, clothing stores (boutiques) have experienced tremendous growth in all cities in the United States of America and in most parts of the world. Transcription. There is hardly any human who doesn’t wear clothes. He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. A feasibility study is an integral process in manufacturing to make sure a solution is viable to the problem or not. FEASABILITY STUDY MODEL for CAGE FARMING BUSINESS of SMALL/MEDIUM SIZE Concept The following pages provide a Feasibility Study Model (FSM) for drafting a comprehensive Feasibility Study (FS) for small and medium cage aquaculture Projects. Another threat that may likely confront us is the arrival of a new clothing store in same location where ours is located. This is because of the need to cover up nakedness. Generating Funding/Startup Capital for Mary & Mack Clothing Store™. Mary & Mack Clothing Store™ will ensure that all our customers are given first class treatment whenever they visit our store. This feasibility study aimed at establishing an alteration shop as an income generating project of TESDA Women’s Center (TWC). 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 as determined by the board of the organization. Players in the Clothing store (Boutiques) industry are defined as having only one location and typically focus on providing high-end or niche products to consumers. We are quite aware that just like any other business, one of the major threats that we are likely going to face is economic downturn. Here are the platforms we intend leveraging on to promote and advertise Mary & Mack Clothing Store™; Pricing is one of the key factors that gives leverage to clothing stores and retailing business generally, it is normal for consumers to go to places (clothing stores) where they can get good quality clothes and fashion accessories at cheaper price which is why big players in the clothing store / retail industry like attract loads of consumers. One of our major goals of starting Mary & Mack Clothing Store™ is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. Our vision is to establish a one stop clothing store (boutique) in Los Angeles – California and in other cities in the United States of America. This is the summary of the SWOT analysis that was conducted for Mary & Mack Clothing Store™; Our location, the business model we will be operating on (one stop physical store and online store), varieties of payment options, wide range of clothes and other fashion accessories from local and international manufacturing brand, opening 24 hours a day and 7 days a week and our excellent customer service culture will definitely count as a strong strength for Mary & Mack Clothing Store™. Responsible for preparing financial reports, budgets, and financial statements for the organization. We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when making some business decisions that will directly or indirectly affect them. The marketing aspect is very vital when carrying out a feasibility study on how to start fish farming business in Nigeria. After payment text your name, your e-mail address and bank teller number to 07036785443 and you’ll receive your FASHION DESIGN FEASIBILITY STUDY & BUSINESS PLAN IN NIGERIA. Clothing stores (boutiques) can be strictly designer based (i.e. Various clothing designs have evolved over the years too. Here are the payment options that will be available in every of our outlets; In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE. 2. No doubt data collected from customers goes a long way to help retail stores serve them better. It is recommended that an extensive study for other aspects of the business feasibility is conducted and the execution of the marketing program developed accords to what really satisfies the market. In view of that, we have positioned our clothing store to service the residence of Los Angeles – California and every other location where our clothing stores will be located all over the United States of America and Canada. Intuitively, our feasibility study and business plans are explicit. The research will be complied into a business plan including a literature review and finishing with recommendations. Especially, when you put the feasibility study or business plans into use. It is important to state that, there is no company with a dominant market share in this industry. Responsible for financial forecasting and risks analysis. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customer base may grow to. It will be difficult for customers to visit our store and not see the cloth or fashion items that they are looking for. 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