InsideHerBoutique
Table of Contents
1.0 Executive summary
2.0 Company Summary
3.0 Services
4.0 Business Operations
4.1 Operation Policies
5.0 Sales Strategies
5.1 Accounting and Investment
6.0 Management Summary
7.0 Financial Summary
7.1 Financial Plan
8.0 Boutique Inspiration Board
1.0 Executive Summary
For the year 2020, InsideHer Boutique of Miami, will be a start-up
retail sanctuary for women that will consult and merchandise the clothing,
shoes, jewelry, accessories and furniture designs of local female designers.
This store will provide styles ranging from polished modern chic to vintage of
all eras, owned and operated by Brandee Betancourt and managed by Bobbi and
Maylene Betancourt. Its location is planned for the beautiful South Florida
region, Design District of Miami. Being that the store’s inventory is built of
works from local market designers of all artistic trades, the intent is to
provide the south Florida region with unique styles of fashion and home décor
from specific designers in Miami Florida. Eventually, the company proceeds to
other cities of the United States, such as New York and California and can then
forward their local designers under the brand, InsideHer.
The startup business will be financed with $10,000.00 of the
owners' money plus $40,000.00 from business loan(s); starting costs are
approximately $40,000.00. Sales are estimated at nearly $150,000-200,000.00 per
year by the first year. Near the end of the first year, a positive cash flow
will be produced.
There are no other boutiques located in the Miami area like
InsideHer Boutique, in where the merchandise is solely the works of local
designers of all trades.
Brandee Betancourt is a full time employee of an interior design
and space planning firm, Fanny Haim & Associates, Inc, full time mother of
two children and wife, as well as a full time fashion marketing, merchandising
and management student of The Art Institute and has over 5 years of retail
experience.. As per the management staff, Bobbi Betancourt is a model, with
knowledge in the fashion industry and currently studying as a psychology major
at Miami Dade College. Maylene Betancourt is a bank manager for SunTrust for
the past 5 years, working for Bank of America for 15 years and specializes in
accounting and marketing. Nancy Seymour receives a Veteran's pension (from her
late husband) which is adequate for support without drawing from the business.
Joanne Arbor is employed full-time by Central Connecticut State University,
which is also adequate support without drawing from the business. Joanne has
managerial experience and basic knowledge of accounting. These three women
believe that beauty begins within and that we will be selling are
representations of exterior beauties, which is why InsideHer was born.
2.0 Company Summary
The business will be named "InsideHer Boutique." This identification serves for a boutique in the popular city of Miami, Florida, where the store’s entire inventory is merchandise presented by local designers of all fashion styles and home décor. The name will be registered in Miami Dade County under an assumed name.
The business will be named "InsideHer Boutique." This identification serves for a boutique in the popular city of Miami, Florida, where the store’s entire inventory is merchandise presented by local designers of all fashion styles and home décor. The name will be registered in Miami Dade County under an assumed name.
InsideHer
Boutique’s primary goal is to research the most talented local designers in
Miami, market clients to shop those specified designers but in our store. This
way we can arrange a contract with these designers so that we always have their
latest works per season.
InsideHer
is designed to help customers appreciate their inner and outer beauties and the
beauty behind others and their talents, specifically women. By providing the
client with fashions and home decorations, we are assisting our customers with
exterior beauties that exemplify their inner beauty. We will cater to the woman
wanting to collect new wardrobe and furnishings by representing the women that
create the art. InsideHer will make sure to always provide the best quality,
most unique work and options that vary.
3.0 Services
InsideHer
will promote and sell the works of local female designers in the Miami area.
Their works and our selections will range from modern to vintage clothing,
shoes, jewelry/accessory, furniture and home décor pieces such as vases,
paintings, sculptures, etc. Every piece of merchandise, even as store display,
InsideHer is willing to sell. InsideHer will research local female designers
and evaluate their collections and convince they sell their talents through
InsideHer. A contract will be arranged to that we can be able to provide
clients with constant and updated seasonal pieces. Our boutique will also host
fashion events in which display furniture and art pieces, as well as
participate in local festivals. As a lifestyle company, will advocate being
support to the art world, specializing in fashion.
4.0 Business Operations
Considering
InsideHerBoutique originated from a fashion background. The team has knowledge
and passion for all arts, therefore the business will provide special, one of a
kind merchandise and personal consultants for our customers as needed.
Customers will be able to purchase clothing, shoes, accessories and jewelry and
home decorations and more., all created by talented women of Miami, Florida.
The store hours will be 7 days a week. Store hours will be from 10 A.M. to 8
P.M., Monday through Friday, and 10:00 A.M. to 4:00 P.M. on Saturdays and Sundays.
As a
start-up business, InsideHerBoutique will be managed by one full time employee
and will have two full-time employees on the floor at all times. The owner of
the company will also be a full-time employee and will do constant research for
local talents and arranging presentations, meetings, and contracts. The wage
for each sales employee will begin at $10.00 per hour, with sales experience. To
maintain the building and its hygiene, we will hire an outside cleaning company
at $15 per night, 7 days a week.
4.1 Operation Policies
- 30-day
exchange or return policy with receipt
- 2
items at a time in the dressing room
- Accepting
credit cards, debit, and cash, but no checks acceptable
5.0 Sales Strategy
To increase sales and promote InsideHerBoutique, special
events will be held that please people, stimulate interest, pursue leisure,
involve social participation, and occur within a specific, prescribed time
frame. Our special events will include:
- Exhibits
- Fashion Shows
- Festivals
- Grand Openings
- Open Houses
- Testimonials
- Trade Shows
We intend to use these sales strategy events to attract
customers, sell products, earn profits, make markets aware of new developments,
and make communities aware of their policies, goals, and purposes.
To maintain a decent cash flow, we will accept all major
credit and check cards, or cash. Accepting credit cards will increase the
probability, speed, and size of our customers' sales. It will give us the
chance to increase sales by enabling customers to make impulse buys. It will
improve our cash flow because we will receive the money within a few days. It
also guarantees we will be paid. However, it is decided to not accept checks as
a payment method.
5.1 Accounting and Investment
Owner
will enlist the professional services of accounting and investment to handle InsideHerBoutique's
business functions and needs. Thereafter InsideHerBoutique’s owner and
management learning to operate the appropriate accounting software to manage
our own bookkeeping, the enlisted accounting firm will no longer be needed for
any phase.
During
the firm’s establishment, the following will be presented:
- Bi-
weekly payroll and Compliance with all Florida Sales Tax requirements
- Generate
Profit and Loss Statements as required
- Consultation
on an as-needed basis
- Generate
all 941 and W-2s requirements as required by Federal, State, and Local
Taxes
- Filing
all required personal tax returns , including all other business forms
6.0 Management Summary
The
firstborn of Maylene, Brandee Betancourt of InsideHer Boutique, will be its
owner and her role indicates managing the company from “the outside”. Doing so
entails procurement and inventory, marketing and advertising the company, and
human resources. Her experience entails working as the CEO executive assistant
of an interior design and space planning firm, retail sales, a student of
fashion, marketing, merchandising and management student and being a mother of
two.
As the
mother and a full-time employee of InsideHerBoutique, Maylene Betancourt will
be responsible as the manager of operations and store manager,
balances the rent, inventory, storage space, supplies and equipment. She has
over 10 years of managerial experience.
Being the
second and last child of Maylene wouldn’t have less meaning. Bobbi Betancourt,
a full-time employee as well, will be responsible to assist whereas needed,
mainly as a consultant to our clients both for fashions and home décor. Her
experience lies in being a college student of psychology studies, being in the
know about fashion, home décor and what the world what to be sold.
As per the
sales floor, we will hire 2-3 sales representatives with a passion for the
arts. One person will be responsible for operating the cash register and
loss prevention. The other person will be responsible for customer service and
inventory control.
7.0 Financial Summary
Coming Soon...
7.1 Financial Plan
Coming Soon...
8.0 Boutique Inspiration Board
Coming Soon...
7.1 Financial Plan
Coming Soon...
8.0 Boutique Inspiration Board
