Passion Soles is a women-only shoe store in Eugene, OR. Eugene badly needs an upscale shoe store for women because the current stores have an inadequate selection. Currently, women that need a special pair of shoes often must travel up to Portland to find the right shoes.
Passion Soles will offer a wide range of shoes. Passion Soles’s shoe selection is usually too big due to the number of sizes that must stocked for each style. Passion Soles’ unique business model allows them to offer a wide selection while only stocking one size per type. Passion Soles is able to receive the size they need within two days thanks to a special relationship. Rush overnight shipping is possible at an additional fee.
Passion Soles will benefit from Holly Heels’#8217 specialized knowledge in the women’s shoe industry to quickly gain market share. Profitability will be reached by month ten and $284,000 will be generated in revenue in year three.
1. Keys to Success
It is important to satisfy the customer demand for a high-end women’s shoe shop with a large selection and personalized customer service.
1.2 Objectives
The following objectives are set for the initial three years of operation
To create a product-based, retail store whose primary objective is to exceed customer’’s expectations.
To increase the number and quality of clients served annually by 20% by satisfying unmet customer needs through outstanding selections and exceptional customer service.
It is necessary to have a sustainable cash flow in order to start up a business.
1.3 Mission
Passion Soles’#8217′ mission is provide Eugene with a premium selection of women’s shoes and outstanding customer services. We exist to bring in and keep customers. If we follow this maxim, all else will follow. Our services will exceed our customers’ expectations.
One, Two, Step! You will find only the highest quality shoes and accessories for women at our store. The selection includes everything from basic flats and sandals to trendy stiletto boots and shoes. To best suit our customers, we will be purchasing directly from the manufacturers and selling to them in a wide range of sizes and colors. Shoes will account for the largest percentage, followed by accessories.
One, Two, Step! It is organized in the name and sole proprietorship of Chloe Goodlowe. One, Two, Step! Temporarily, it will be at 123 Shoe Lane, Houston, TX. It will remain there until it grows large enough to open a store in West Houston.
The hours of operations will be Monday through Friday from 10 a.m. until 6 p.m., Saturday from 10 to noon and 8 p.m. (closed Sundays). Customers will be able purchase directly via our website and VIP showcase events. Extended hours will be available during the Christmas holiday shopping season.
All merchandise will be bought according to the company’s mission. The management will take customer feedback, suggestions and sales reports into consideration when introducing or removing certain brands, styles, and sizes.
The Concept
Recognizing that quality shoes in large sizes are very scarce, it is important to use larger shoe retailers like One, Two, and Step! Targeting niches will reduce competition. Generally, focusing on other retailers whose prices are too high, lack quality, and are not’shoe size efficient’ will help to minimize that competition.
One, Two, Step! There are three keys to success. The first is to establish high-quality, high-value relationships with its suppliers and customers. Second, ensure that products are delivered promptly and reliably. Dependable administration is the final key to success. This small business plan is designed to give you the structure needed to realize this last key.
One, Two, Step! The business is initially set up to be a home-based venture with plans to eventually expand to a shop/boutique. This will allow you to save money while still providing the best service and support.
The Market
One, Two, Step! The company will continue to grow at 3%, and there are many potential clients now, eagerly waiting for the start of business. One, Two, Step! You will find us to be more affordable than other retailers, but the same high quality shoes.
A monthly sales promotion will be offered by us, such:
buy one, get one half price
buy one, get one free
Take half off your previous season’s shoes
“One, Two, Step!” dollars (for every $50 dollar purchase, the consumer receives an additional 20% off of their next purchase)
One, Two Step, Step! will design its own, custom-made shoes for women and men.
The Sales Strategy
Our marketing strategy will not exceed 5% of our annual gross sales. We will use a wide range of approaches, including our website with free shipping, postcards, business cards, and word of mouth.
Objectives
The goals of One, Two and Step! are:
To sell fashionable and elegant shoes, sizes 5-13, that can be worn by every woman.
To get a 50% profit margin within the first one year.
To provide excellent customer service. This is measured through repeat and new customers (our goal being that 50% of our customers return within 6 months to purchase additional products) and multiple sales. Our goal is that 30% and 60% respectively of our non-running and running shoe sales come with additional purchases.
To make a net profit in the second year and in the fifth year of your career, you will need to earn $15,000 and $5,000 respectively.
Mission
The One, Two, Step! Our mission is to provide high quality accessories and shoes from name brands in a variety of sizes to suit the chic woman.
Keys to Success
For women to succeed in the shoe industry, one, two, step! must:
Take a selection of shoes that will suit your personality, in varying sizes.
Customer service excellence in southern hospitality.
Advertise and promote in all areas so that our customer base will learn more about One, Two, Step!
Continuously assess our inventory and sales to adjust our inventory levels.
Lastly, be sure to stay up-to-date with the latest styles in women’s shoes.
