The business that I will be starting will be a Sole Proprietorship. Karen’s Boutique, In Walt Whitman Shops. It is a self-owned business I am fully aware of all the consequences and I will be liable for the profits, the losses and the debts. As a self-owner of my own store I will be merchandising products from companies. The Boutique’s products are clothing’s, and accessories such as jewelry, bags, shoes, and make-up. Karen’s boutique will be profitable because it is located in a mall which brings many shoppers. It will utilize affordable pricings that fit the standard demands; many popular brands will be sold out to flatter the customers. Because it is located at the mall the store hours are Monday through Saturday 10am-9:30pm and on Sunday 11am-7pm. It is a unique store because Walt Whitman Shops lacks attention from Female teens and not many of the stores are affordable. It’s also unique because it does not just sell cloths it offers many other options that a customer will be satisfy about. Karen’s Boutiques main goal is to satisfy the needs of the customers that come to shop at Walt Whitman Shops. It will not only satisfy the customers but myself, because since shopping is my favorite thing to do it will keep me updated on many new trends.
Section2: Product/Service that will be offered
Karen’s Boutique will start off by mechanizing Cloth brands such as Jeans, pants, tops, shorts, dresses, jackets, skirts. Accessories such as, jewelry, Beauty supply, bags, and shoes. They will be brought from LAshowroom, good stuff Apparel and whole sale fashion yetts, and whole sale fashion square, Fashion Bella, HnDwholesale, ACWall cosmetics wholesale and retail. These products will benefit many of the costumers because the wholesales companies sell many trendy brands not many stores offer up to date products.
Sources: https://www.lashowroom.com/ http://www.goodstuffapparel.com/ http://wholesalefashionyetts.com/ Section 3: Location
Karen’s Boutique will be located in 160 Walt Whitman Rd, Huntington Station, NY 11746 In Walt Whitman Shops .A rented retail decent size of about 980 sq ft is what is desired most likely a location which will allow for space for all the products. Being located in the mall is one of the biggest advantages a business owner will have. It provides sense of security people feel safe because it is inside a mall in which it looks classy, and is secured by security there is no threat, it is a safe environment from shoplifters. There will always be a constant wave of people especially during the holidays. Buses are provided by the mall it allows the customers an easy way to transport. A Demographic of High School shopper are increasing.
2. Marketing Plan:
Karen Boutique mainly targets Females those of ages ten to nineteen years old. In Huntington many females love to shop but never find what they’re looking for. Therefore, my intentions are to supply the shopper for what they’re looking for. There are many changes occurring throughout the years and my goal is to stay on top of new trends and the customers’ demands.
Section 1: Competition In Huntington there is a variety of competitors that my store will be competing with. The stores most likely competing with Karen’s Boutique are:
Mystique Boutiques business is increasing slowly there current revenue is $91,000. Mystique is located less than 7 minutes from Walt Whitman Shop. It targets Females mostly teens there products consist of cloths, jewelry and shoes.
Joyce Leslies Business is increasing and doing well in the economy; there revenue is currently $50M. It’s a woman’s clothing store that is 6.4 miles from Walt Whitman shops it is a far trip which makes it harder for Huntington Customers to go there. Their main target are teens, there products