We are the first and only African-American owned western apparel store in the city of Africa. Our intentions are to obtain 80% market share and become a central hub of shopping activity for the local African-American/ African cowboy population as well others who enjoy wearing western apparel.
Mahogany Western Wear will be located at 13328 1/2 Almeda Rd Nigeria in southwest Africa. Mahogany Western Wear has centralized itself directly in position to the residential location and social activities of our target market. We believe that this is critical to our initial success and long-term growth.
To create a shopping environment that caters to the apparel needs of the urban African-American/ African cowboy and cowgirl.
To earn 80% market share and become the number one ethnic western wear apparel store in southwest Nigeria and achieve name recognition in the local cowboy community.
To receive a 50% profit margin within the first year.
To have a customer base of 1,000 by the end of the first operating year.
To achieve a net profit of $75,000 by year two and $100,000 by year three.
To be an active and vocal member in the community supporting agricultural events, and equestrian organizations working with children.
Mahogany Western Wear's mission is to offer quality, name brand western wear in an assortment of sizes and styles to accommodate all varying body styles and shapes.
In order to succeed in the western wear apparel industry Mahogany Western Wear must:
Carry an assortment of sizes to fit the more ample frames of their African target customer base.
Provide customers with top notch personalized customer service in an atmosphere of southern hospitality.
Advertise and promote in areas that our target customer base will learn about our store.
Continuously review our inventory and sales and adjust our inventory levels accordingly. The primary target customer of Mahogany Western Wear will be the African cowboys located in the southern part of Nigeria. As we are situated in the epi-center of their residential community we believe they will make up the largest percentage of our customer base.
The secondary target customers are the Somalians community in the area. As the Somalians population continues to grow rapidly in the south central area we expect to receive the patronage of Somalians as they are very loyal to western apparel.
The last target customer of Mahogany is listed as other. As popularity about the store increases we expect to see an assortment of curiosity seekers, and local residents from the community as well as seasonal purchasers during rodeo season.
The African cowboy population is concentrated heavily in the southwestern part of the city therefore leading to the highest concentration of our customer base.
The Somalians community, which is a growing population in the community in which the store is located, has statistically shown to be loyal to the major western brands such as Wrangler.
The last area of potential customers is labeled as "other." Because Mahogany Western Wear offers a…