1. Ladybird 1
Running Head: Ladybird Boutique
Ladybird Boutique
Senior Project
Spring 2011
Grace Neeley
University of Memphis
In requirements for UNIV 4995
M. Quinn
4 March 2011
2. Ladybird 2
Executive Summary
• The name of the store is “Ladybird Boutique.” This women’s clothing boutique
will be located in the South Main area of downtown Memphis. Its address will be
522 South Main, Memphis, TN 38103.
• Ladybird Boutique will be a women’s clothing boutique that specializes in carrying
lines not found in the Memphis area. It will be a boutique that is elegant yet edgy and
will give customers quality merchandise and brands. The store is a lifelong dream of
the owner and will be dedicated to making the customers feel as fabulous as they
already are. According to the article, “Small Business Optimum Increases” in The
Wall Street Journal, small businesses have increased optimism in the New Year and are
one of the main areas for job growth. Ladybird Boutique will be an optimistic,
upbeat, and distinctive boutique that offers unique brands to women in Memphis.
• Women in Memphis will get to experience and wear unique to Memphis
merchandise that is normally not available at a moment’s notice and will get to feel
special and unique while wearing it. The store will also house high quality
merchandise at reasonable prices so Memphis women can be fashionable and trendy
without breaking the bank. Ladybird Boutique will also have specialty services such
as an alteration service, a stylist service, and a gift wrapping service. These services
will be unique to boutiques in the Memphis area and will set Ladybird Boutique
apart from their competitors. Customers will get to experience these services for a
small fee, and will walk away feeling more confident about the dress because it has
been altered to fit their bodies, or more certain about the dress they will be wearing
on a night out because of the stylist service.
3. Ladybird 3
• The customers of Ladybird Boutique will be single or married women ages 25-34
and 35-44. These women are African-American or Caucasian and have earned a
bachelor’s degree or higher. They make a household income of between $35,000-
$49,999 and $75,000-$99,999 and are employed in management or professional
fields. These women have extra money to spend on a great dress or nice pair of sling
back heels. They enjoy going out and having a good time with friends, and will often
come into the store to find something cute to wear while going out downtown or in
the Memphis area. These customers like to be trendy and fashionable and will spend
extra money for those great unique pieces.
• The owner of Ladybird Boutique will be Grace Neeley and the store will be a sole
proprietorship.
• The start up costs for Ladybird Boutique include costs such as fixed assets, pre-
paid items and expenses, pre-opening expenses, inventory and supplies, and working
capital. When totaled, these expenses add up to $94,357.09. This is the amount
needed for Ladybird Boutique to obtain and pay for everything the store will need
in order to open and operate as a successful business.
• A one year projection for Ladybird Boutique will be to sell quality merchandise to
customers, attract customers from the advertisements, set up a customer database
and always find ways to generate new customers, and make sales in order to keep
afloat into the second year. A five year projection for Ladybird Boutique will be to
have broken even at some point and have started making a profit, start opening
other locations here in Memphis, and to expand the brands offered in the store.
4. Ladybird 4
Table of Contents
Title Page 1
Executive Summary 2
Table of Contents 4
I. Demographic/Psychographic Study and Rationale 5
II. Type of Business 10
III. Ownership and Control 13
IV. Competition 15
V. Image 20
VI. Financial Data 26
VII. Customer Service 36
VIII. Merchandise Pricing 44
IX. Store Promotion 48
X. Personnel 62
XI. Security 67
XII. Business Opening Strategy-Time Schedule 70
XIII. References 72
5. Ladybird 5
Introduction:
Ladybird Boutique will be a small, retail clothing boutique in the downtown Memphis area.
It will be located in the South Main arts district along where Sache or Runway Boutique is
now located and will be called-Ladybird Boutique. Ladybird Boutique feels as if there is a
need for the store because the South Main district does not have a sophisticated, moderately
priced clothing boutique where one feels stylish and elegant upon walking in the door.
Ladybird Boutique also feels like Memphis needs this store because not only will it be
decorated elegantly, and have impeccable customer service, it will feature new-to-Memphis
merchandise and a variety of services not always found here in Memphis such as scheduled
appointments for stylist services, and an alteration service.
Demographics of Target Market
The demographics for its target market are women ages 25-44, and they are either single or
married and either Caucasian or African American. These women are educated, either with
an associate’s degree, bachelor’s degree, or some type of masters or doctorate degree. They
have somewhere between no children or one-three children and have a household income of
$30,000-$100,000. Women who are single and making $30,000-$50,000 will have disposable
income. They can shop for nice clothing and accessories for themselves. Also, married
women with children who make a household income of $50,000 up to $100,000 will also
have disposable income that they can use at their discretion-hopefully at Ladybird Boutique!
Psychographics of Target Market
The psychographics for these women are women who have pretty well off lifestyles. They
have good, steady jobs and do not have to worry about bills from month to month. They are
able to go out to nice dinners, go to the Orpheum to see a musical, or shop for well made
6. Ladybird 6
clothing for themselves. They aim to do well at their jobs and many hope to climb the
corporate ladder or have even done that and are at a nice position as we speak. These
women enjoy life, enjoy shopping for nice pieces and merchandise, and might take pleasure
in anything from a great handbag, or a well cut jacket, to a nice evening out with friends in
the downtown area and enjoying a fine wine. These women enjoy living in Memphis, might
be involved in charity or social work, and like going out on the town and having a good
time. These women are open minded and accepting of people that they meet and people
around them, and are usually the outgoing type of women who like to enjoy life and go out
and have fun.
Demographics of Business Location
The demographics of the store location in South Main, show:
• The majority of people living there are in a nonfamily household (single men or
women). Never married peoples make up 46.4% of the area and married people
consist of 26.5% of the area.
• Women make up 40.3% of the population of this particular area and 64.8% of this
area is Caucasian and 18.6% is African American.
• These people are between the ages of 25-34 and 35-44 and the median age for this
area is 37.5. They are the primary person living in their home or apartment with a
small percentage, 8.7%, of them living with a spouse.
• Thirty eight point two percent of women who are fifteen years old and older in this
area have never married and 56.5% of people living there have earned a bachelor’s
degree or higher.
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• Most of these people are making a household income of between $35,000-$49,999
and $75,000-$99,999. The families in this area are also making between $75,000-
$199,999.
• Seventy-four point one percent of females 16 and over are employed in the labor
force and 51.6% of this area is employed in management, professional, and related
occupations while 23.6% are employed in sales and office occupations.
Psychographics of Business Location
The psychographics of the store location are the same as the psychographics of the target
market. The owner talked to Marian Richardson, owner of Runway and Strut Boutiques in
South Main. She informed Ladybird Boutique that every demographic comes to shop in
her stores and that most people coming into her stores are buying something special to wear
to parties, dinners, events, or just going out and dancing. She said a lot of people that come
in just like cute clothing and want to look nice when they are out and about Downtown,
whether it is seeing a new musical at the Orpheum, dancing at the disco, or eating well at the
restaurants in Memphis. The women that come into her store are usually outgoing women
who like be glam, fashionable, and trendy and have extra money to spend on a nice dress or
a great pair of heels.
Parallel Data of Demographics of Target Market and Business Location
As you can see the demographics of Ladybird Boutique’s target market are very similar to
the demographics and statistics for the store location. The demographics for the location of
south main hits right at the target age range, race, occupation, income, and education of its
target market.
8. Ladybird 8
In order to further see the similarities between the demographics of Ladybird Boutique’s
target market and the demographics of its business location, Ladybird Boutique has
included a chart that details the information and clearly shows the statistics for further
understanding.
Demographics of Target Market Demographics of Business Location
Single or Married women ages 25-44 Mostly single women, some married- aging
from 25-34 and 35-44-median age of people
in area is 37.5
Caucasian or African American with
some type of education
Caucasian or African American with over
half having earned a bachelor’s degree or
higher
Household income of $30,000-$100,000 Household income of $35,000-$49,999 and
$75,000-$199,999
Career minded, wanting to work their
way up the ladder
74.1% of females are employed and over
half of the area is employed in management
and professional fields
Parallel Data of Psychographics of Target Market and Business Location
Once again, the data for the psychographics for the target market and the business location
match up and have several similarities. Ladybird Boutique believes that the psychographics
of the women for the target market to be a certain way and the data obtained from Marian
Richardson helped to confirm what Ladybird Boutique was thinking and researching all
along.
9. Ladybird 9
Shown below is a comparison chart of the psychographics of the target market and the
business location of Ladybird Boutique.
Psychographics of Target Market Psychographics of Business Location
Well off, able to afford to spend extra on
clothing
Has extra money to spend on a great dress
or high heels
Likes to shop for a great handbag or
nice dress to wear while out and about
Downtown
Will come into the store to find something
cute to wear while out dancing, eating
dinner, or attending an event in Memphis
Enjoy going out and having a good time
with friends
Have fun going out and will come into the
store to buy merchandise for having a good
time
10. Ladybird 10
Introduction
This section will discuss the basic fundamentals of the clothing boutique and the core
elements that make the store what it is all about and guide the store along the way. These
basic philosophies, goals, and fundamentals will be the markers that will help to remember
who the store is as a boutique, who the store will be selling merchandise to, and what the
upcoming stages are as a business. As long as Ladybird Boutique sticks to its foundation
then it can satisfy its customers, achieve set goals, and eventually radiate as a thriving
boutique.
Name:
The name of the store is Ladybird Boutique. The owner believes that this name epitomizes
the type of boutique that they will be and the type of merchandise they will sell. The “lady”
part of the name refers to the sleek, elegant, and sophisticated atmosphere the store will
have, as well as the main types of clothing the store will carry-sophisticated, modern, and
elegant pieces that women can wear as a modern work wardrobe or as interchangeable pieces
in their everyday wardrobes. The “bird” part of the name is represented by a peacock as the
logo for the store, and reflects the individuality within every woman and customer. The
peacock is a beautiful, exotic bird and has large, colorful feathers. This symbolizes the
attitude and funkiness within every women and the store will not only carry elegant, and
sophisticated pieces, but funky, edgy, and individualistic pieces that women can wear to
work, going to dinner, or having fun with friends. The “boutique” part of the name gives the
sense of catered service upon entering the store. When you hear the word boutique, one
thinks of a store that is small, chic, personable, and fashionable-and that is exactly what
Ladybird Boutique will encompass. Lastly, “L” is close to the beginning of the alphabet so
11. Ladybird 11
when customers are looking through the phone book for boutique or clothing stores here in
the Memphis area, they can see Ladybird Boutique’s name come up before some of the
other names and the store has a chance at landing new customers that they normally would
not have had before.
Mission Statement:
Ladybird Boutique is a sophisticated clothing, shoe, and accessory boutique that offers
high quality, moderately priced, and unique to Memphis merchandise lines. We view
ourselves as personal stylists for our customers and upon arrival at our boutique; we hope to
exude excitement, confidence, and a luxurious shopping experience. Our goal is long-term
profitability, thriving customer relations, and maintaining our sense of style.
Company Goals and Objectives:
• To maintain a thriving clothing boutique that breaks even within the first year and makes
at least $75,000 in revenue within the first five years.
o Preserving customer satisfaction, selling unique to Memphis merchandise,
hosting exclusive events, and initiating promotions and incentives within the
store, will help us achieve these goals.
• To open two-three more stores in the Memphis and Mid-South area, in addition to the
main store, within the first seven to ten years.
o By achieving annual sales goals, nurturing customer needs and wants, building a
set-up of creative and talented employees, and pushing the fashion, retail, and
marketing boundaries in Memphis, Ladybird Boutique can see this goal come
into fruition.
Business Philosophy:
12. Ladybird 12
Ladybird Boutique aims to sell quality, and elegant merchandise in a personable, and
friendly environment. They value honest selling to customers coming into the store and take
pleasure in making sure every customer is happy and satisfied with their purchase. They also
endeavor to make downtown Memphis an even more happening, and fun place to shop, eat,
and live.
Catering to the customer:
As previously shown, Ladybird Boutique will cater to women, ages 25-44, all races, and
with a median household income of $30,000 on up to $100,000. These women are career
minded and work in the professional or management fields. Since these women have extra
money to spend, they like to go shopping for great quality merchandise. They like to shop
for a unique or cute dress to wear while going to Theatre Memphis or a great pair of heels to
wear while dancing. These women like to go out and have fun with their friends, whether it
be having fun downtown or eating at restaurants in the Memphis area. These women are
fun, open minded, and enjoy going out and having a good time.
13. Ladybird 13
Introduction
This section details the type of business that Ladybird Boutique will be and the advantages
and disadvantages of that type of layout. There are many great qualities and positives to
being your own boss, but there are also downsides and pressures that come along with that
situation. Also found in this section is the organizational chart that details how many
employees the store will have and what their tasks will be. If everyone knows exactly what
their job is and what fulfillments and goals they have for their position, then Ladybird
Boutique can become an effective, successful, and long-lasting retail store.
• The store is a sole proprietorship with Grace Neeley as the owner and sole proprietor.
• Ladybird Boutique decided to have a sole proprietorship run boutique because it has
always been the owner’s dream to open her own clothing store and to be her own boss.
Some of the advantages of this situation are like aforementioned; she can be her own
boss day in and day out. She can also decide on every detail of planning the store, store
merchandise, and what goes on in the day to day operations. Some disadvantages of this
set-up are the fact that she will have to plan everything out herself, and if she does not
do the proper research and planning the store might fail in the long run. `
Linear Organizational Chart
The linear organizational chart for Ladybird Boutique is depicted on the next page. It
shows the positions at the store and also describes each position as to what the job entails
and what the employee will be doing on a day to day basis. It is important to have everyone’s
tasks defined and have specific tasks and goals that make everyone happy in order to have a
successful boutique.
14. Ladybird 14
Grace
Neeley
Owner
-‐Oversee
day
to
day
operations,
go
to
market,
order
new
merchandise
each
season,
talk
to
customers
and
make
certain
of
customer
satisfaction,
plan
upcoming
events
in
the
store,
check
on
store
appearance,
accounting,
inventory,
orders,
and
merchandise,
oversee
employees
and
ensure
satisfied
and
motivated
workers
General
Manager
-‐Handle
day
to
day
operations,
make
sure
the
business
is
running
smoothly,
ensure
customer
happiness,
maintain
upkeep,
organization
and
appearance
of
the
store,
keep
up
with
accounting,
inventory,
orders,
and
merchandise,
oversee
employees
on
a
day
to
day
basis,
maintains
an
upbeat
attitude,
and
ensures
happy
workers
by
treating
everyone
fairly
and
compassionately
Full
Time
Worker
Part
Time
Worker
-‐Help
with
customers
upon
entering
the
store,
offer
help
without
hovering,
retrieve
clothing
from
storage
areas,
exude
great
customer
service
by
treating
the
customer
as
a
valued
asset,
ring
up
customer’s
orders,
stock
merchandise
on
the
floor,
and
maintain
order
and
appearance
of
the
store
while
also
knowing
what
is
in
stock,
inform
customers
of
upcoming
events
and
sales,
always
dressing
neatly
and
professionally
15. Ladybird 15
Introduction
This section makes us answer the question of who the competitors are for the store, what
merchandise and price points they have as compared to Ladybird Boutique’s merchandise
and price points, and what the store will do to make the boutique to stand out. Ladybird
Boutique believes that by carrying unique-to-Memphis brands, quality merchandise, and
unique and personalized services, the store will vividly stand out amongst the competitors.
Competitors
The biggest competitors that will handle similar lines of merchandise are online competitors
such as stylecaster.com, shopbop.com, shopthetrendboutique.com, mytheresa.com, and
theoutnet.com. These online websites are destinations that consumers can go online and
purchase items from numerous clothing labels-big name brands as well as smaller, lesser
known brands. Ladybird Boutique wants to carry brands that are not always found here in
Memphis and that are unique and customers feel special when wearing the pieces. These
websites are the most direct competitors because the customers could go online to buy some
of the brands that the store will carry, but Ladybird Boutique wants them to come into the
store for the fabulous shopping experience, customer service, and personalized styling
services.
The store will also have competitors in the South Main area due to the fact that there are
other clothing, and retail boutiques in that area. Some of these direct and yet indirect
competitors are Muse Inspired Fashion, Sache, Runway Boutique, Strut, American Apparel,
and Hoot + Louise. These stores are the direct competitors because they will be located near
the store and they will be directly competing for attention from the customers in South
16. Ladybird 16
Main. They are also the indirect competitors because they are carrying different clothing
lines than the ones that the store will be carrying.
Price Lines
The main competitors, the online websites, carry a wide variety of price points-low to high.
The surrounding boutiques in South Main carry generally moderate priced clothing, between
$40/50 up to $500/600.
Included in this section is a price comparison chart depicting the price of competitor’s
merchandise compared to the price of merchandise that Ladybird Boutique will carry.
Places to Shop Shoes Handbags Jewelry Clothing
Online Sites $24-$1,300
+ Shipping &
Handling
$25-$2,995
+ Shipping &
Handling
$13-$2,600
+ Shipping &
Handling
$20-$2,700
+Shipping &
Handling
Surrounding
Boutiques
$100-$400 $99-$400 $20-$300 $50-$500
Ladybird
Boutique
$95-$600 $90-$500 $20-$400 $40-$600
Potential Merchandise and Pricing for Ladybird Boutique
Also included is a chart of some of the clothing, handbag, shoe, and jewelry lines that
Ladybird Boutique could potentially carry in the store, along with some general price
points. These are just some of the examples of lines that the store would like to carry.
17. Ladybird 17
Merchandise Items Brand Name General Pricing
Jewlery House of Harlow
Low Luv
Erickson Beamon
A Peace Treaty
CC Skye
$20-$220
$30-$190
$100-$400
$100-$400
$75-$300
Handbags/Clutches Felix Rey
Anya Hindmarch
Halston Heritage
CC Skye
$90-$300
$195-$500
$150-$300
$130-$500
Shoes Alexander Wang
House of Harlow
Belle by Sigerson Morrison
Repetto
$300-$600
$75-$300
$80-$200
$95-$300
Clothing Lyn Devon
Vena Cava
Winter Kate
Isabel Marant
$90-$300
$40-$329
$115-$700
$140-$500
Lanston
Monrow
Halston Heritage
Catherine Malandrino
Greylin
$55-$150
$40-$200
$200-$600
$100-$500
$40-$200
18. Ladybird 18
James Jeans $60-$200
Biggest Area Competitors
The biggest area competitors will be the surrounding boutiques in the South Main area.
There are several other clothing boutiques that are located in this part of downtown
Memphis. Ladybird Boutique will compete with these businesses and set themselves apart
by offering personal stylist services, clothing alterations, and gift wrapping.
• Personal Stylist Services
o If a customer has an important event to go to such as a wedding, a friend’s
birthday bash, or a night at the theatre and they want a very special outfit for the
occasion, they can set up an appointment with the store and the workers will (for
a fee) help style them for the occasion.
o Ladybird Boutique offers them a personalized shopping experience using the
store’s expertise to assist them in looking their best for the occasion.
o The store will offer them wine and food as they shop.
• Clothing Alterations
o If a customer is buying a jacket, trouser, or any item from the store that they
would like to have tailored even more to their body type, the store will charge
them an added fee along with their purchase and have it altered for them.
o Ladybird Boutique will hire/set up a relationship with a local alteration store or
person to have them alter our clothing on a commission type basis.
• Gift Wrapping
19. Ladybird 19
o Ladybird Boutique will offer gift wrapping for customers for a small fee added
to their purchase.
o This will personalize their purchases, invoke a fun shopping experience, and save
the customers time as to the fact that they will get all of their shopping and gift
wrapping for an upcoming occasion done in one fail swoop.
Ladybird Boutique believes that these unique services will please the customers, make long
lasting customer connections, and make the store stand apart from other boutiques in South
Main and in the downtown Memphis area.
20. Ladybird 20
Introduction
This section goes into detail about what the overall image, mood, and atmosphere of
Ladybird Boutique will be like. Each element that is placed in the store (wood floors,
furniture, etc), hung up in the store (lights, dressing room curtains, etc), or designed to be in
the store (custom wall units) will help to exude Ladybird Boutique’s overall image and to
attract customers to the store.
Image
The image that Ladybird Boutique wants the shoppers to have of their boutique will be an
image of sophisticated elegance and attitude. Ladybird Boutique wants to have a boutique
that has a sleek, pretty, and classic atmosphere, noticeable upon entering the store. They
want customers to feel like they are in a really, nice boutique and feel as if they are being
catered to and are able to shop to their hearts desire!
Establishing the Image
Ladybird Boutique wants to establish the image of the store through the various types of
furniture (see spec table), quality paint and flooring (see spec table and swatch board), and
stylish clothing that it puts on display. Ladybird Boutique will use lighting (see spec table),
garment displays (see spec table), and unique accessories (see spec table) to set the mood of
the store and further enhance the image. For more understanding of the image of Ladybird
Boutique please see the enclosed floor plan, spec tables, and swatch board.
Specification Tables
21. Ladybird 21
Shown below are the specification tables for Ladybird Boutique. These tables show the
furniture, flooring, paint, fixtures, accessories, and lighting that will be found in the store.
These tables help to detail the elements of the store in order to get a better picture.
SAMPLE SPECIFICATION TABLES
FURNITURE SPECIFICATIONS
Item
I D
Item Description Size Manuf. Source Quantity Total
Cost
A Sofa Gray Antoinette
Fainting Sofa,
wood, polyester,
linen, viscose,
nylon, cotton
71” l,
32”h, 28”d
Urban Outfitters 2 $1,158.00
B Chair Gray Madeline
chair, polyester,
wool, poly fill
23”w,
30”d, 34”h
Urban Outfitters 1 $349.00
C Chair Turquoise &
white ikat slipper
chair, cotton,
wood, poly foam
25”w,
32”d, 30”h
Urban Outfitters 1 $329.00
D Area Rug Black ayo rug,
contemporary,
hand carved
geometrics,
wool, viscose
8’by10’ West Elm 1 $599.00
E Desk
Chair
Silver swivel
chair, metal
frame, leather
seat and back
22”w x.
23.5”d x.
35.5-41”h
West Elm 1 $399.00
F Desk Parsons desk
with drawers,
polished white
finish
48”w x
24”D X
30”H
West Elm 1 $299.00
G Pedestal
Table
Galvanized
Pedestal circle
table, galvanized
zinc and wood
29” h, 39”
diameter
Anthropologie 2 $2,596.00
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H Mirrored
Dresser
Silver mirrored
dresser,
hardwood frame,
mdf panels,
metal drawer
glides, antiqued
silver mirror,
silver leaf
32”h, 32”
w, 17” D
Anthropologie 2 $2,596.00
I Register
Stand
Black register
stand, melamine
laminate,
recessed well,
adjustable
storage shelves
48” L, 18”
W body-
22”W top,
42” H
Storefixture.com 1 $288.33
J Cabinets White wood
rolling file
cabinets, two
drawers
17” W,
20”D,
24”H
West Elm 1 $279.00
JJ Custom
Wall Units
Located on both
sides of the
store, one side
for shoes and
handbags, other
side for clothing
Custom
made
Custom made
by carpenter
2 $10,000
FINISH SPECIFICATION TABLE
Item
Ident.
Location Material Man.
ID#
Description/Finish Quantity Source Total
Cost
K Flooring Cherry
Birch
Wall to wall wood
flooring for 1500 sq.
feet
18.70 sq.
ft/ case
86 cases
Home
Depot
$93.12 X
86=
$8,008.32
L All Walls
and Trim
Powdered
Snow Paint
Semi gloss, latex 3 gal Home
Depot
$42/gal=
$126
M Dressing
Room
Walls
Jamaica
Bay Paint
Semi gloss, latex 2 gal Home
Depot
$42/gal=
$84
LIGHTING SPECIFICATIONS
23. Ladybird 23
Architectural Fixtures
Item
ID
Fixture/Lamp
used
Location Manufacturer Type of
lighting
Model
No.
Quantity Unit
Cost
Total
Cost
N Track Lighting In front of
hanging
clothing
and in
window
Vortex Five
Light Track
Kit
Accent TK-
5VTX3
4 $135.00 $540.00
O Chandelier Middle of
Store
Crysotorama
Lighting
Group
Accent
lighting
2522287 1 $718.20 $718.20
P Pendant
Fixture
Above
register
Paulmann Accent
Light
9983 1 $391.64 $391.64
QQ Down lights In
ceiling—
equally
spaced in
dressing
rooms
and office
LATG Stores Direct
general
lighting
L3R-4” 12 $66.00
$792.00
RR Shadow
Baffle Full
Reflector Trim
Middle of
ceiling
LATG Stores Direct
general
lighting
3B1-3” 12 $11.86 $142.32
Fabric Specifications
Item I D Location/Used On Quantity Total Cost
ZZ Silk, white duponi window
panel used as dressing
room curtains
2 $139.98
Accessories Specifications
Item I D Item
Description
Location Manuf. Source Unit
Cost
Quantity Total
Cost
S Throw pillow,
peacock
feather
On sofa A and
sofa B
The Home
Centric
Amazon $35.05 1 $35.05
24. Ladybird 24
T Throw
Pillow,
peacock
On sofa A and
sofa B
Plush Living Amazon $69.95 1 $69.95
U Door Nob
Curtain Tie
Back
At both
dressing
rooms
Urban
Outfitters
Urban
Outfitters
$14.00 2 $28.00
V Curtain Rod In front of both
dressing
rooms
Urban
Outfitters
Urban
Outfitters
$22.00 2 $44.00
W Layer Cake
white
Jewelry
Stand
On table G Urban
Outfitters
Urban
Outfitters
$28.00 1 $28.00
X Corinthian
Jewelry
Stand
On table G Urban
Outfitters
Urban
Outfitters
$24.00 1 $24.00
Y Wire Drop
Jewelry
Shelp
On table G Urban
Outfitters
Urban
Outfitters
$38.00 1 $38.00
Z Ceramic
Hand
Jewelry
Stand
On table G Urban
Outfitters
Urban
Outfitters
$18.00 1 $18.00
AA Mirror Dressing
Rooms
Fixture
Pronto
Fixture Pronto $182.23 2 $364.46
BB Michelle-3
Mannequin
Window
Display
Bethel
Fixtures
Bethel
Fixtures
$161.00 2 $322.00
CC Michelle-2
Mannequin
Window
Display
Bethel
Fixtures
Bethel
Fixtures
$161.00 2 $322.00
DD Michelle-1
Mannequin
Window
Display
Bethel
Fixtures
Bethel
Fixtures
$161.00 3 $483.00
Swatch Board:
Shown below is the swatch board for Ladybird Boutique. It shows a sampling of what the
flooring, walls, and fabric for the dressing rooms will look like in order to get a visual picture
of the elements of the store.
25. Ladybird 25
Birch
Harwood
Floor
Jamaica
Bay
Walls
for
DR
Walls
&
Trim
Ivory
Fabric-‐DR
Curtains
Floor Plan
This floor plan shown below is the basic idea of how Ladybird Boutique will set up their
store and how the layout will look. The store is designed to exude the store image that it
would like to convey to its customers and this floor plan helps to visualize this store image
and see what the store will look like.
Shown below is the floor plan for Ladybird Boutique.
26. Ladybird 26
Introduction
This section is a section that is a key component to opening the Ladybird Boutique store.
This section outlines what Ladybird Boutique will need financially in order to open the
store, and maintain the store for the first three months. These financials, personal financials,
and places to go for funding are a key ingredient in making sure that Ladybird Boutique
will be a mainstay in the downtown area.
Statement of Financial Requirements
The statement of financial requirements is a key essential in this business plan that details the
exact amount that Ladybird Boutique will need in order to operate. Listed below are the
sections of the statement of financial requirements and they are broken down into
justifications of the expenses.
Fixed Assets
Ladybird Boutique will have fixed assets such as equipment, fixtures, furniture, and
building renovations. These fixed assets include:
• Real estate in which the store will be rented and is recorded as 0.
• Automotive equipment which is also recorded as 0 because the store will not need a
car.
• Equipment, fixtures, and furniture which is recorded as $13,392.93. This amount
was found after tallying all of the equipment, fixtures, furniture, fabric, accessories,
etc, which the store will need in order to furnish and operate the store.
27. Ladybird 27
• Building Renovations which totaled $18,218.32. This amount came from totaling the
custom wall units, wood floor, and paint that the store will have.
This section totaled up to $31,611.25 once all of the fixed assets were added up.
Pre-Paid Items and Deposits
Ladybird Boutique will need certain items in order to open and operate the store. These
items include:
• Rent Deposit which is recorded as $1,500. This is due to the fact that Marian
Richardson had to pay a $1,500 rent deposit for Runway Boutique and so Ladybird
Boutique will have a similar rent deposit due to the fact that they will be in the same
area.
• Utilities and phone deposit which is recorded as $360. This amount also came from
Marian Richardson and it is the general amount she paid for Runway Boutique.
Ladybird Boutique will have to pay similar costs.
• Insurance payments which is recorded as $125. This amount once again came from
Marian Richardson, and will be a similar payment that Ladybird Boutique will have
to pay for their insurance payments.
• Taxes, licenses, and fees which is recorded as $60. This amount came from Marian
Richardson who told Ladybird Boutique that the only taxes, licenses, or fees that
the store will have to pay will be about $60 for a business license.
28. Ladybird 28
• The other section adds up to $450 and accounts for installation for a security system
and a monthly payment for three months. This figure was found from a website
detailing security information and costs.
This section totaled up to $2,495 for all of the pre-paid items and expenses that the store will
need to operate.
Pre-Opening Expenses
Ladybird Boutique will need to spend money on certain pre-opening expenses and items in
order to satisfy customers and to have it operating smoothly. Some of these expenses are:
• Advertising Expenses which totaled to $1,694.67. This number came from totaling
all of the items needed for advertising such as business cards, logo, flyer, newspaper
ad, specialty items, etc.
• Training which totaled to $0 because all of the employees will be trained from
current employees and will get hands on experience on a daily basis while they are
working.
• Legal and accounting fees which totaled to $5,000. This number accounts for legal
services that Ladybird Boutique might need while operating the store. The
accounting fee accounts for the Quick books program that Ladybird Boutique will
need to do their accounting work. The legal number came from a website that gave a
general estimate of what legal services cost.
• The other section which totals $5,500 and this accounts for trips to market a couple
of times a year in order to place orders for spring and summer merchandise. This
number was a general estimate from Marian Richardson.
29. Ladybird 29
This section totaled $12,194.67 after Ladybird Boutique added up the pre-opening
expenses.
Inventory and Supplies
Ladybird Boutique will have to have inventory and supplies to help sell the inventory in
their store. Some of these expenses for inventory are:
• Goods purchased which totals up to $30,000. This is the number needed to buy
goods for the opening of Ladybird Boutique. The estimated markup percentage is
between 100-150% percent depending on what the item is and how much the owner
will be able to purchase the item. These numbers came as a general estimate from
Marian Richardson who told Ladybird Boutique that she spend about that much
on goods for her opening at Runway Boutique. This markup percentage will help the
store with the project profits and help to repay startup costs.
• Supplies which totals up to $4,431.17. This includes the cost of computers,
telephones, printer/fax/copiers, office supplies, and the average cost of bags for the
store with the logo, and the cost of gift wrapping supplies. These numbers came
from several websites and Marian Richardson.
This section totals up to $34,431.17 after Ladybird Boutique accounts for goods purchased
and supplies needed for the store.
Working Capital
Ladybird Boutique will need working capital in order to help the business survive and do
well as a store. Some of the expenses for working capital are:
30. Ladybird 30
• Funds for Customer Credit which equals $100. This will cover the store if the value
of merchandise decreases because a customer has put purchases on hold. Because
Ladybird Boutique will not have a store credit card, it will only need the $100 to
help cover costs. This amount was also a general estimate from Marian Richardson.
• Funds for petty cash which equals $150. This petty cash will help cover the need for
extra office supplies, light bulbs, mops, etc. that the store may need at a moment’s
notice. This amount was also a general estimate from Marian Richardson and also
generally came about with help from the “Statement of Financials” document from
Ms. Margaret Quinn.
• Projected Cash deficits with equals $1,000. This $1,000 will help to cover unexpected
obligations that the store may have at any moment. Once again, this amount came
about from the help of Marian Richardson.
• Three months operating expenses with equals $9,000. This covers three months
operations that the store will have and came about from the operating expenses that
Marian Richardson has at her boutique.
• Three months personal expenses which totals $3,375 and will help the owner of
Ladybird Boutique pay their own personal bills during the first three months of
operation. This number came about from the owner who totaled up their monthly
costs and came up with a three months personal expense estimate.
This section totals up to $13,625 once the sections of working capital are all totaled.
Start Up Cost Projection
31. Ladybird 31
The startup cost projection for Ladybird Boutique is $94,357.09. This number came from
adding the fixed assets, pre-paid items and deposits, pre-opening expenses, inventory and
supplies, and working capital. This amount is needed to open the store, create the
image/inside of the store, have a grand opening, stock goods and merchandise, and to
finance the store for three months. Ladybird Boutique will have a private investor who will
invest in Ladybird Boutique and give the owner 20% of the startup costs which totals:
$18,871.42. This will provide the owner the collateral they will need when they get the
remaining 80% financed. Ladybird Boutique will have the remaining 80% financial
through a bank, grant, or microloan. The remaining 80% totals $75,485.67.
Shown next is the Statement of Financial Requirements and the Startup Cost Projection
shown in chart form in order to understand the finances needed in further detail.
32. Ladybird 32
Personal Budget
Shown below is a listing of the personal budget needed for the owner of Ladybird
Boutique. It details a three month period beginning in June of 2011 during the month that
the store will open until August of 2011. This personal budget will enable the owner to fully
focus on store operations and success while not having to worry about paying their own
bills.
Personal Expenses/Budget
Month: June 2011
ITEM Amount Total
Car Note $___175_____ $___175_____
Rent $____500______ $___500_______
Food $____100___ $____100_____
Clothing $____50______ $____50_______
Insurance $____200_____ $____200_______
Entertainment $____100____ $____100______
Total: $1,125
Month: July 2011
ITEM Amount Total
Car Note $___175_____ $___175_____
Rent $____500______ $___500_______
Food $____100___ $____100_____
Clothing $____50______ $____50_______
33. Ladybird 33
Insurance $____200_____ $____200_______
Entertainment $____100______ $____100______
Total: $1,125
Month: August 2011
ITEM Amount Total
Car Note $___175_____ $___175_____
Rent $___ 500____ $___500_______
Food $____100___ $____100_____
Clothing $____50______ $____50_______
Insurance $____200_____ $____200_______
Entertainment $__100______ $____100______
Total: $1,125
Three Months’ Total: $3,375
Potential Companies/Contacts for funding
There are several places that Ladybird Boutique would like to potentially go to in order to
acquire funding for opening their boutique. There are many banks and organizations out
there that offer help and funding but they feel that these three sources have the best chance
of success and the best opportunities.
1) Regions
a. Small Business Loan- Ladybird Boutique would like to go to Regions and
apply for a small business loan because the owner has had previous personal
history with Regions and has always had great customer service. They believe
34. Ladybird 34
that the personal history will help to increase success. Also, Regions was just
recognized as the Number 3 Small Business Lender and Regions stated that
the ranking reflects their continued commitment to help small businesses
grow and survive. Ladybird Boutique believes that Regions would be a
great place to acquire a small business loan, as to the fact that they are very
attentive to customer needs and support small business growth.
2) SBA-Microloan Program
a. If Ladybird Boutique is not able to get their funding through Regions Bank
or not receive as much funding as they need, they will apply for the
microloan program through the Small Business Association. Newly
established businesses or start-ups are able to get micro-loans of up to
$35,000 to help them achieve their goal of opening a business. Ladybird
Boutique believes that this would be a good route because the SBA is very
supportive of small businesses and getting a micro-loan would be a good
source of funding.
3) SBA-7 (a) Loan Program
a. The SBA also has a basic loan program for small businesses. This helps to
provide basic loans for funding for new start ups and Ladybird Boutique
believes this would also be a good source for funding for the store. Once
again, the SBA supports small businesses and growing the economy, so
Ladybird Boutique believes that acquiring a basic loan would be very
beneficial.
35. Ladybird 35
4) Retail Forgivable Loans for New Businesses
a. This is a loan given by the Center City Development Corporation that
promotes new retail businesses in the Downtown Memphis area. Ladybird
Boutique will apply for this loan because it is a good way to find initial
funding and also a benefit of obtaining this loan is the fact that if the store is
successful and stays opens for five years or more, Ladybird Boutique’s loan
can be forgiven of principal or interest due. So therefore, that is a benefit of
receiving the loan in order to help open Ladybird Boutique in Downtown
Memphis.
36. Ladybird 36
Introduction
Customer Service is a key essential for a small business in order for it to run smoothly.
Ladybird Boutique will be a store that is very big on customer service and their employees
dishing out the best customer service in town. According to “Profits over people? That
strategy gets that people really angry” from Minneapolis/St. Paul Business Journal,
emphasizing profits over the process one must embark one as a small business, can lead to
devastating results. This is due to that fact that the business is only thinking about money,
money, money, and not if their customers are happy, and how well the quality of their
business is looked upon. With smiles, warm greetings, customized help, and knowledge of
frequent customers, the employees of Ladybird Boutique will help make the store a
memorable place to shop in the South Main area.
Customer Service Questionnaire
Ladybird Boutique will administer a customer service survey to their target market and to
potential customers in order to get a feel for the wants and needs of their customers. This
survey will be administered by direct mail to the customer’s homes and will include a coupon
for 10% off their purchase when they complete the survey and turn it into the store. This
will motivate the customers to complete the survey and will help the store to find out exactly
what their customers want to see in the store. A sample of the questionnaire is below.
Questionnaire
Instructions: Circle letter or letters for your response. Complete and return survey to the
store within 10 days of receipt to redeem coupon.
1) What age group would you fall under?
37. Ladybird 37
a. 18-29
b. 30-49
c. 50-69
2) What is the biggest factor in determining if you will shop at a certain store?
a. Location
b. Merchandise
c. Pricing
d. Customer Service
3) What types of merchandise would you like to see more options and brands of in the
Memphis area? (Circle one or more)
a. Dresses
b. Jeans
c. Shoes
d. Handbags
e. Jewelry
4) What item do you find yourself needing at the last minute or just to add to your
closet?
a. Going out dresses-for parties, dinners, events, etc.
38. Ladybird 38
b. A great handbag-great quality, unique brand.
c. A unique shoe-for going out, or just looking cute.
d. A bold, statement piece of jewelry-to make your outfit pop.
5) What would entice you to shop more at a specific store or boutique?
a. Great sales.
b. Fun in-store events.
c. Store donations to a charitable cause.
d. Catered customer service.
Optional: Used to update our customer database.
Name:
Address:
Phone: Email: Birthdate:
Customer Service Policy
Ladybird Boutique will follow several guidelines as far as customer service is concerned
and all employees will follow the customer service policy. The customer service policy
includes:
• Customer is the top priority-to be treated like royalty.
• Always be professional while on the sales floor.
• Go over and beyond for the customers.
• Dress appropriately for the work environment.
39. Ladybird 39
• Get to know customers and regular customers who frequent the store.
• Greet all customers and make them feel welcomed as they walk in the door.
• Smile while answering the phone to convey a sense of happiness and warmth.
Sample Contract for Fees
Shown below is a sample contract for services rendered by Ladybird Boutique such as the
styling services and the alterations services. In addition to signing the contract, the customer
must put down a 30% deposit for their service upfront. This contract was found from
printablecontracts.com and customers will be required to sign this contract to ensure that the
services were carried out, paid for, and that everyone is happy with the outcome.
Contract for Services Rendered
This is a contract entered into by <Company or Person A> (hereinafter referred to as “the
Provider”) and <Company or Person B> (hereinafter referred to as “the Client”) on this date,
<Month Name, Day Number, Year>.
The Provider’s place of business is <address, city, state, ZIP code> and the Client’s place of
business is <address, city, state, ZIP code>.
The Client hereby engages the Provider to provide services described herein under “Scope and
Manner of Services.” The Provider hereby agrees to provide the Client with such services in
exchange for consideration described herein under “Payment for Services Rendered.”
Scope and Manner of Services
Services To Be Rendered By Provider: enumerate here each particular task to be performed and
its acceptable result, i. e.,
<1. Audit the Client’s business accounting records in accordance with generally accepted
accounting principles, and provide to the Client a written audit report conforming to the guidelines
of the Institute of Internal Auditors.>
Payment for Services Rendered
The Client shall pay the Provider for services rendered according to the Payment Schedule
attached, within <X> calendar days of the date on any invoice for services rendered from the
Provider.
Should the Client fail to pay the Provider the full amount specified in any invoice within <X>
calendar days of the invoice’s date, a late fee equal to <$X> shall be added to the amount due
40. Ladybird 40
and interespt of <Y> percent per annum shall accrue from the <Xth> calendar day following the
invoice’s date.
Applicable Law
This contract shall be governed by the laws of the County of ________ in the State of _______
and any applicable Federal law.
Signatures
In witness of their agreement to the terms above, the parties or their authorized agents hereby
affix their signatures:
____________________________________ _________________________________
(Printed Name of Client or agent) (Printed Name of Provider or agent)
____________________________________ _________________________________
(Signature of Client or agent) (Date) (Signature of Provider or agent) (Date)
Services
As previously talked about in the competition section, Ladybird Boutique will have a
number of services that cater to the customer and help them with needs they may have.
Customers really enjoy quality merchandise and quality services such as customer alterations,
gift wrapping, and stylist services. According to “Custom Tailors Enjoying a Boom” from
The Wall Street Journal, customers are now realizing the quality and longevity of custom made,
and tailored pieces. Therefore, these services will set Ladybird Boutique apart and take the
customer service and catering to the customer to the next level.
Listed below are the services that Ladybird Boutique will offer to their customers.
• Personal Stylist Services
o If a customer has an important event to go to such as a wedding, a friend’s
birthday bash, or a night at the theatre and they want a very special outfit for the
occasion, they can set up an appointment with our store and we will (for a fee)
help style them for the occasion.
41. Ladybird 41
o We offer them a personalized shopping experience using our expertise to assist
them in looking their best for the occasion.
o We will offer them wine and food as they shop.
• Clothing Alterations
o If a customer is buying a jacket, trouser, or any item from our store that they
would like to have tailored even more to their body type, we will charge them an
added fee along with their purchase and have it tailored for them.
o We will hire/set up a relationship with a local alteration store or person to have
them alter our clothing on a commission type basis.
• Gift Wrapping
o We will offer gift wrapping for our customers for a small fee added to their
purchase.
o This will personalize their purchases, invoke a fun shopping experience, and save
the customers time as to the fact that they will get all of their shopping and gift
wrapping for an upcoming occasion done in one fail swoop.
These services will set the store apart from competing boutiques by having special services
and gift wrapping that please customers and turn customers into repeat customers that rant
and rave about the store to everyone they know.
Credit
Ladybird Boutique will not offer any credit or credit card services at the time of their
opening. The reasoning behind this is that they will be a small boutique just starting out, and
the fees and costs associated with offering credit will not be worth the service in the long
42. Ladybird 42
run. By accepting cash, debit cards, and most credit cards, customers will have several ways
to pay for their purchases without having to have a credit card for Ladybird Boutique. If
the store grows and possibly expands, Ladybird Boutique might revisit this option in the
future.
Services for a Fee
Once again, Ladybird Boutique will offer styling services to customers who need extra help
getting dressed or picking out the perfect outfit for an upcoming event, wedding, trip, etc.
This styling service will provide a one-on-one, personalized atmosphere where the customer
gets individualized attention and recommendations on clothing that is based on the stylists
own knowledge and their knowledge of the customer. This service will help customers feel
prepared for big events and help them to always look their best! Ladybird Boutique will
also offer alteration services to clients who may be in between sizes or one size on top and
another size on the bottom and may want a dress to be altered to fit them perfectly. For a
small fee they can get it altered through our store and have it ready for them to wear in no
time at all. This service helps to personalize the clothing purchases even more so and to help
the customers feel connected to their purchases. They will also feel fabulous in well fitting
clothes and keep coming back to Ladybird Boutique for more merchandise.
Delivery Policies
Ladybird Boutique will not offer delivery services to their customers. The reasoning
behind not offering this service is the fact the store will be a clothing and accessory boutique
and they would like customers coming into the store to make purchase and to also see the
other merchandise that we have to offer. If they come into the store to buy what they need,
43. Ladybird 43
then they might see something else that catches their eye that they might want to try on or to
purchase.
Return Policy
Ladybird Boutique’s return policy will be:
• Store Credit or Exchange Only.
• No returns after 14 days.
• Must have tags still attached to the merchandise.
• Must not look like it has been worn or have a fragrance or odor.
The reasoning behind this return policy comes from Runway Boutique’s return policy. This
decision to use the return policy they adhere by is because it makes a lot of sense for a small
boutique. Store credit only keeps the store from losing money if someone is wishy-washy
and decides that they do not want that handbag after all. Also, fourteen days is enough time
to decide if you want the merchandise you bought or not. This allows people to come in and
exchange it or get store credit if they decided they do not want it within the fourteen day
time period. Lastly, it must have tags still attached to the merchandise because it hopefully
will keep people from wearing a dress or using a handbag and then trying to exchange it after
they have already worn it or used it. The return policy will be on sign located at the register
for customers to see as they check out at Ladybird Boutique. The return policy will also be
printed at the bottom of the receipts for customers to see when they purchase the item and
when they get home and are looking at their receipt they will see the policy as well.
44. Ladybird 44
Introduction
The price ranges for the merchandise that Ladybird Boutique will sell vary from $20-
$500/600. The reasoning behind these wide price points is the fact that Ladybird Boutique
will sell jewelry, handbags, shoes, and dresses and some jewelry they will carry may only cost
$20-$40, a nice cocktail dress may cost $250, and a great pair of heels may be $500.
Ladybird Boutique will provide high quality merchandise at reasonable prices and if the
dress is well made or the high heel is really fabulous, they feel that the customer will pay for
the high quality and fashionable look of the item that they are buying.
Listed below is a chart of some of the brands Ladybird Boutique might carry as well as the
price points for the brands.
Merchandise Items Brand Name General Pricing
Jewelry House of Harlow
Low Luv
Erickson Beamon
A Peace Treaty
CC Skye
$20-$220
$30-$190
$100-$400
$100-$400
$75-$300
Handbags/Clutches Felix Rey
Anya Hindmarch
Halston Heritage
CC Skye
$90-$300
$195-$500
$150-$300
$130-$500
Shoes Alexander Wang $300-$600
45. Ladybird 45
House of Harlow
Belle by Sigerson Morrison
Repetto
$75-$300
$80-$200
$95-$300
Clothing Lyn Devon
Vena Cava
Winter Kate
Isabel Marant
$90-$300
$40-$329
$115-$700
$140-$500
Lanston
Monrow
Halston Heritage
Catherine Malandrino
Greylin
$55-$150
$40-$200
$200-$600
$100-$500
$40-$200
These are just some of the potential brands that Ladybird Boutique will carry and the
various price ranges of the brands. Once Ladybird Boutique goes to market and is able to
hone in on the exact brands that they will carry, they can then determine the exact price
points of their merchandise.
Ladybird Boutique will also have pricing for the services they will offer: stylist services, and
alteration services. Listed below is a chart with the fees that Ladybird Boutique will charge
to their customers for these services.
Services Offered Cost of Service
46. Ladybird 46
Stylist Service One-one-One: $100/hour
“Girlfriends Experience”-$50/person/hour
Alteration Service Skirt-$25 Skirt lined-$35
Dress-$30, Dress lines-$40
Gift Wrapping
Small Large
$6.95 $12.95
The stylist prices are based on an average amount that most stylists charge. Women can have
their girlfriends come with them to Ladybird Boutique and have a “Girlfriends’
Experience” where all of the women get to pick out the perfect outfit for a party or event
with the help of the stylists. The alterations pricing is based on research done about
alterations pricing and Ladybird Boutique will charge a little bit more for the service just
because it is an added bonus attached to our store and we will have high quality alterations
made for the customers using outsourcing. No extra employees will be hired and therefore,
no additional overhead for the company. The gift wrapping prices are an average cost of gift
wrapping and will depend on the size of the item. The gift wrapping will help save customers
time since they can get it gift wrapped in the store and will help to gain repeat customers at
Ladybird Boutique.
Odd or Even Pricing
Ladybird Boutique will use even pricing on regular priced merchandise because it makes
the whole numbers, such as $200, seem more upscale and priced correctly for the
47. Ladybird 47
merchandise and will therefore entice the customers to buy the merchandise. It has been said
that the illusion of cheaper price point entices a buying response from the customers.
Ladybird Boutique wants customers to feel like they are getting bang for their buck and
wants them to feel comfortable with the purchase, so therefore sale items will be oddly
priced, such as $149.99. Also, Ladybird Boutique will use these pricing methods because
people believe that even pricing means that the owners took their time to carefully handle
the merchandise and price it correctly and that the owners work hard to have to the correct
pricing for each item. Lastly, the markup strategy will be to markup the items purchased at
wholesale between 100-150% percent. The reasoning behind this came from Marian
Richardson and those numbers are the average percentages that she marks up her items. The
percentage mainly depends on what the item is and how much she was able to purchase it at
wholesale price. Ladybird Boutique will follow the same strategy.
Volume Selling Product
Ladybird Boutique’s volume selling product will be the lower priced jewelry. The lower
priced jewelry that would be the volume selling product will be the jewelry under $75. Since
the only clothing that the store will carry will be nice dresses, the store will rely on lower
priced, well made jewelry to be the volume selling product that people will want to buy on a
daily basis to help spruce up an outfit from last season or just to make themselves feel good.
48. Ladybird 48
Introduction
This section discusses how Ladybird Boutique will promote the store opening and get
people into the store through store events, promotions, food, wine, and flyers. This section
shows in detail the various methods of store promotion and how they will be formulated and
carried out to make customers aware of Ladybird Boutique and have them wanting to
come back to the store many times over.
Events:
There will be numerous events to celebrate the opening of Ladybird Boutique.
The first event will be grand opening day, but before the grand opening day the store will
have a soft grand opening the night before the grand opening for exclusive friends and
family of Ladybird Boutique. This will be a preview night of the fashions that Ladybird
Boutique will sell, and will let these exclusive customers have the chance to purchase the
fashion before any of the other customers on opening day. During this soft grand opening,
the store will have wine and food for the special customers to enjoy, as well as a fashion
show that will showcase the merchandise in a real-live way and create excitement about the
overall opening.
The second event will be the first day of the grand opening. It will entail wine, and high quality
finger foods served on opening day, as well as the first fifty customers receiving a peacock
scarf or peacock soap box. This will entice customers to come to the grand opening and
check out what our store has to offer. Ladybird Boutique will be using a variety of
49. Ladybird 49
promotion media to make customers knowledgeable about the grand opening. They will be
sending out flyers in the mail to our target market, and these customers will be able to bring
their flyers into the store on opening day and receive ten percent off of their entire order
that day.
Another form of promotion media will be for Ladybird Boutique to post two questions on
our twitter page. One will be called Know Your Bird. This means that Ladybird Boutique will
ask a question about a bird on twitter and the first person to reply with the right answer will
receive a twenty-five dollar gift card that is good for opening week only. The second
question will be called Love Your Bird and whoever replies with the most fashionable picture
of herself with a bird will also win a twenty five dollar gift card good for opening week only.
These twitter giveaways will help use social networking and media to get customers excited
about the grand opening and to reach all of Memphis through popular and personable social
interactions.
The theme of the grand opening will be-“In celebration of fabulous fashion, sophisticated
style, and beautiful women”. This theme exudes who we want to be as a store and to
celebrate that with our customers. The grand opening will last from opening day-June 3rd
until June 10th
. The costs associated with the grand opening will be the cost of wine, food,
peacock scarves, peacock brooch, cups, plates, napkins, and a “Grand Opening” banner.
Shown below is a chart that details the expenses for the grand opening.
Items for Soft GO and GO Day Cost of Items
Wine-White and Red ≈$25/bottle, 6 bottles=$150
50. Ladybird 50
Food Platters
-Fresh Fruit Tray from Jason’s Deli
-Fresh Veggie Tray from Jason’s Deli
2 trays at $65 each-serves 25-30
=$130
2 trays at $45 each-serves 35-30
=$90
Napkins, Cups, Plates ≈30
Peacock Scarves $2.99/yd
3 scarves/yd
9 yards=27 scarves
$2.99 times 27= $80.73
Peacock Soap Boxes $10 each
25 at $10= $250
Grand Opening Banner from Fed-ex
Kinkos
1 for $63.99
DJ $0-itunes on laptop
Models for Fashion Show
Total:
$0-friends and family
$794.72
The third event will be our “Fashion for Autism” event. This event will be held on Friday,
June 17th
from 6:00-9:00. This event will be promoting the “Autism Speaks” charity that is
dedicated to finding cures for autism, as well as preventions and treatments for autism.
Ladybird Boutique chose this charity to showcase because the owner has an older brother
with autism, and she finds that a lot of times people do not know what this disability is or
how to act around him. This event will donate ten percent of sales on those two days
51. Ladybird 51
towards the “Autism Speaks” charity and will help to make people in Memphis more aware
of the disability and what they can do to help others suffering from autism. This event will
also have children with autism in the store on that Friday night, greeting customers and
talking about themselves and their lives. This will show the community what children with
autism are like and what they go through in their day-to-day lives. This will mean more than
just the ten percent being donated, it will mean that people will be impacted by the children
and the children will get to talk to others and be in a sociable environment.
The store will promote this night through our twitter page and by sending out letters to our
target market letting them know about the event. Ladybird Boutique will also promote this
event by letting every customer that comes into the store know about the events and its
details. They will also ask the customers to tell all of their friends and family about this
special event and for them to come out and shop while supporting a good cause. Lastly, the
store will be giving everyone who buys something during the event an “Autism Speaks”
rubber wrist band that they can wear to remind themselves of the charity and how they were
able to impact other people’s lives.
Listed below is a table that shows the expected expenses for the “Fashion for Autism”
event.
Items for “Fashion for Autism” event Cost of Items
“Autism Speaks” wristband 1 pack of 10 wristbands=$5
10 packs (100 wristbands)=$50
Paper for letter informing of event $20
52. Ladybird 52
Wine-red and white $25/bottle-4 bottles=$100
Total: ≈$170
The fourth event that Ladybird Boutique will have during its first month is the “End of
Summer Preview Party.” This event will be held Saturday, June 25th
from 6:00-9:00. This
event will showcase the last batch of summer fashions to Ladybird Boutique’s favorite
group of friends and family through a runway show set to music from iTunes. They will
showcase exclusive looks of the end of summer fashions for this select group before they
put the merchandise out in the store. Also, the store will have food and wine for everyone as
they shop and Ladybird Boutique will promote this event through special email and
facebook e-vites. This will make the event feel more exclusive and will make the customers
feel like they are getting special treatment-which they will receive.
Listed below are the expenses for this
event.
Items for “End of Summer Preview
Party”
Cost of Items
Wine-red and white $25/bottle-4 bottles=$100
Fresh Fruit tray from Jason’s Deli 2 trays at $65 each-serves 25-30
=$130
DJ
Models
Total:
$0-itunes from laptop
$0-friends and family
≈$230
53. Ladybird 53
Questionnaire
Ladybird Boutique developed a questionnaire to send to customers by email and by mail.
Specialty Shop Retailing gave them the idea to include in the email and mailed letter a ten
percent off coupon for those that complete the survey and turn in to our store 10 days after
receiving the survey.
Instructions: Circle the letter or letters that complete your response.
1) Did you like the selection of merchandise?
a) I thought the selection was fabulous.
b) I thought the selection was fabulous but could have had more options.
c) I thought the selection was fabulous but there were too many options.
d) I did not like the selection at all.
2) Did you receive outstanding customer service from the workers at Ladybird
Boutique?
a) The customer service was wonderful and I had a great time picking out
merchandise with the workers.
b) The customer service was adequate.
c) The customer service was inadequate.
3) What did you like most about Ladybird Boutique? Circle all that apply.
a) The selection of the merchandise.
b) The customer service of the workers.
c) The price points were reasonable and in my price range.
54. Ladybird 54
d) The location of the store.
4) Did you enjoy yourself during our event and why? Circle all that apply.
a) I enjoyed myself because of the great selection of the merchandise that was
shown.
b) I enjoyed myself because of the great service and friendly atmosphere.
c) I enjoyed the event because of the great food and wine.
d) I did not like the event.
5) Would you like to be contacted about future events and sales at Ladybird Boutique
and if so, how?
a) Yes, I could like to be contacted.
a. By email: _______________
b. By mail: ________________________________
b) No, I would not like to be contacted.
Optional: Information used to update customer database:
Name:
Address:
Phone: Email: Birthday:
Logo
The logo for Ladybird Boutique is a picture of a peacock. This logo will be purchased
from an online website for $4.95. Ladybird Boutique chose to use the peacock as the logo
because we feel as if it reflects the store name and the overall aesthetics of the store.
Ladybird Boutique is a store “where elegance meets attitude” and the peacock is a
reflection of that feeling. Peacocks are very elegant creatures and when they spread out their
55. Ladybird 55
feathers one gets to enjoy their iridescence, color, patterns. It is almost as if peacocks are
elegant creatures when their tails are folded down, but when they spread out their beautiful
tails they show some attitude.
Ladybird Boutique
Business Card
Ladybird Boutique feels as if these business cards clearly represent the aesthetic of
Ladybird Boutique, where the store will be located, and how to contact the store and does
so in a stylish manner. They feel as if it represents the overall aesthetic of Ladybird
Boutique and they are very elegant yet with some attitude. These business cards will be
created on Microsoft Word and printed out on business card paper that Ladybird Boutique
will purchase for $12 from Wal-Mart.
Here is an example the business cards.
56. Ladybird 56
Newspaper Ad
The newspaper ad will run in Skirt Magazine for approximately one year running from May
2011-May 2012. Skirt Magazine provides a service to advertisers where if Ladybird
Boutique provides them with their logo, photos, or illustrations that they want to be in the
advertisement, then Skirt will make the advertisement for them. Ladybird Boutique will
provide Skirt with their logo and information for the advertisement and approve the
advertisement to make sure it conveys Ladybird Boutique’s image. By advertising in Skirt
Magazine first and by letting them create Ladybird Boutique’s advertisement, Ladybird
Boutique will save money that they can spend on other merchandise or services in the
future. Ladybird Boutique will pay $465 for a ¼ page add that will run twelve times
throughout the year.
Flyer
Ladybird Boutique decided to make a flyer for Ladybird Boutique’s Grand Opening.
They feel that this flyer was the best initiative to serve the customers because it would make
them aware that the store is opening and make them aware of the grand opening.
Grace Neeley
Owner
522 South Main
Memphis, TN 38103
Grace Neeley
Owner
522 South Main
57. Ladybird 57
This flyer will be mailed to the target market that meets the store’s
demographic/psychographics and it will also be passed out to people on the street.
Ladybird Boutique feels as if we mail this to the right people it will get their attention and
have them excited about Ladybird Boutique’s Grand Opening. These flyers will be printed
on glossy paper purchased from Wal-Mart for $10.
Shown next is an example of the flyer that we will mail out and pass out to our customers.
Direct Mail
Ladybird Boutique designed a letterhead for the boutique and used this letter head in a
couple of example letters. This letterhead includes the store logo and address and maintains
the peacock theme that Ladybird Boutique is striving to carry out amongst all of the store’s
material. The letterhead will be printed on paper purchased from Wal-Mart for $10.
Shown next is an example of a thank you note written with the letterhead at the top of the
page. Also shown is an individual sales letter written with the letterhead at the top of the
page.
58. Ladybird 58
Specialty Items
Ladybird Boutique designed a few specialty items to give out to selected customers,
friends, and family to promote Ladybird Boutique and to make people aware of what the
boutique will be like and that it will be opening Downtown soon. The store chose to have a
peacock brooch, a peacock scarf, and peacock soap boxes and they felt like these were good
choices because it reflects the store logo in all of the specialty items the store is passing out.
Well dressed women everywhere love a great scarf, or a sparkling brooch to spice up their
outfits. They also love beauty products and smelling fantastic so the peacock soap will please
them as well.
Shown below are pictures of our specialty items that we will be handing out.
The bags that the specialty items will come in.
Specialty item: Peacock adorned soap box with soap
inside and the Ladybird Boutique business card in the front pocket.
59. Ladybird 59
Specialty item: Peacock adorned soap box with soap
inside and the Ladybird Boutique business card on the front of the box.
Specialty item: Peacock fabric for peacock scarves with a
“Courtesy of: Ladybird Boutique” tag on the inside of the scarf.
Visual Marketing and Display
Ladybird Boutique will have some visual marketing displays in the store by way of
tabletops. These displays will show new items that the store will be selling, as well as various
merchandise, business cards, and an email signup sheet. The strategy behind this tabletop
display is to have a focal point, color story, and to display items in an appealing, and
sophisticated way to draw the customer’s eye and make them want to purchase the items. In
the tabletop display shown below, Ladybird Boutique used a white linen tablecloth to have
60. Ladybird 60
a clean slate to display the merchandise on. They also used a silver, tiered jewelry stand, as
well as a teal jewelry stand to display necklaces, bracelets, and rings that the store will sell.
The tabletop display also show a black and blue ruffled, strapless dress in the middle with a
pair of gray booty heels. Draped on the heels is a matching necklace and bracelet, and laid on
the dress is a chunky, pearl necklace. To the left of the dress are three, stuffed handbags that
the store will sell along with jewelry displayed around the handbags. To the right of the dress
are the two jewelry stands with jewelry displayed on them, as well as brooches laid out on the
table. In front of the jewelry stands is a business card stand with Ladybird Boutique’s cards
displayed for customers to pick up, a peacock feather notepad where customers can write
their name and email, and also a peacock picture frame with Ladybird Boutique’s logo
displayed inside.
The visual merchandising strategy of Ladybird Boutique will be to change out the tabletop
displays and mannequins on a bi-weekly basis. This will let the customers have time to see
the merchandise on display without them becoming tired of seeing the items. Also, if the
store gets new and exciting pieces in, the store will change out the display to feature that
item or to show off the new merchandise and this may occur sooner than bi-weekly.
Shown below is an example of what a tabletop display might look like at Ladybird
Boutique and what some of the items they sell may look like as well.
62. Ladybird 62
Introduction
This section details the process of obtaining and maintaining great personnel at Ladybird
Boutique. It discusses the type of labor that Ladybird Boutique will seek out and hire,
where they will find their personnel, as well as pay structure and rewards/incentives the
personnel at Ladybird Boutique will be able to obtain during their stint at the store. It also
discusses the orientation process that employees will go through and the policies the store
will have regarding employee evaluations and how it will be administered.
Number of Employees
First starting out there will be the owner, one full time, and one part time worker.
Type of Labor
Ladybird Boutique would like for their employees to have some kind of previous retail
experience where they have sold merchandise and helped customers with great service. They
would also like for the employees to have a degree in fashion merchandising or are working
on a degree in fashion merchandising, but this does not always have to be the case if
someone is very qualified for the position. The reason they would like the employees to have
retail experience and a degree is because they will be more knowledgeable about fashion and
hopefully, passionate about fashion and clothing as well. Ladybird Boutique wants their
workers to be almost like stylists-helping the customers select the perfect dress or amazing
pair of heels that suits them, their bodies, and their personalities. They should provide
almost a personalized service to the customers.
Finding the Right Employees
63. Ladybird 63
According to The Entrepreneur’s Information Sourcebook, “Asking friends, family, former co-
workers, and business associates to refer potential employees is still the hands-down best
source of employees.” This will be the main way to find a full time and part time worker
because the people that the owner is close to will be able to refer workers and also be able to
tell the owner what they are like and what they know of their work ethic.
The second way the store will find employees if the first way proves to be inefficient will be
to post advertisements in the University of Memphis and Christian Brothers University
databases. If the store posts an ad in these databases, students in retail and fashion who are
looking for a job will be able to see the ad and contact the store about the job.
Pay structure, rewards, and incentives
The pay structure will ultimately be determined if the employee has previous retail
experience and if they are working towards a degree. Employees will be paid well because
the store wants them to give great customer service and really help the customers in every
possible way.
Rewards for the employees will be getting a fifteen percent employee discount. This will
entice our employees to wear our products and will serve as free advertising for us when
they wear these products out and about.
According to Specialty Shop Retailing some incentives that the store will be able to offer the
workers will be: A) a pleasant work environment, B) a generous discount on merchandise,
C) flexible scheduling , D) opportunities for employee input, E) social interactions with
customers and fellow staff members and F) creative work, such as designing displays. All of
64. Ladybird 64
these incentives will be available to our employees from a great work environment to
discounts to input about what merchandise to order, to designing window displays. The
employees will have a great time while working and will also be able to showcase their skills
and creative abilities.
Orientation Program Topics
Upon hiring, employees will go through a two week training program. This program will
include cash register training on the computer, training on knowledge and location of all the
merchandise, how to answer the phone, what to say when customers enter the store, how to
inform customers about upcoming events and sales, how to cater to the customer’s needs,
and what the store policies and return policies are. The orientation will be conducted by the
owner or an already trained employee and will help new employees learn about working in
the store. Specialty Shop Retailing gave us the idea to implement the buddy system in the
training program during the employee’s first two weeks. The new employee will “shadow” a
trained employee and learn all of the ins and outs of working in the store. This helps the new
employee to learn all of the little details that go into working at the store and allows them to
ask questions and learn all that they can.
Also, Retail in Detail states that Ladybird Boutique should tell their employees they are
expected to :A) greet customers with a smile when they come into the door ,B) offer help,
but do not hover, C) avoid personal telephone conversations during work hours, D)dress
neatly and appropriately, E) know your stock, F) understand your store policies, G) avoid
arguing with customers, H) apologize if they must keep someone waiting , I) avoid profanity
and obscenity in speech, even if used by the customer, J) treat the customer as a valued
65. Ladybird 65
asset, not as a bother or interruption. Employees will be expected to follow these guidelines,
work hard and give the job their best effort at all times.
Policy for employee evaluation and administration of policy
Employees will be evaluated on their work performance every three months. These
evaluations will let employees know what areas that need improving and other areas where
they are performing well. According to The One Minute Entrepreneur, these evaluations should
not be intimidating but are carried out in order to help employees know how well they are
performing and how they can perform better and achieve personal and professional goals. If
employees are performing well, they are eligible for a raise every six months to a year
depending on performance.
Shown below is an example of an employee evaluation form from Specialty Shop Retailing.
Employee Evaluation Form
Employees Name:____________________________ Date:______________________
Evaluated by: ____________________________________
Notable Achievements:
Performance objectives for the future:
66. Ladybird 66
Employer’s Concerns or Comments:
I have participated in this performance review and have read this evaluation.
Employee’s signature: _______________________________
This form will be kept in your personnel file should you ever need to see it.
67. Ladybird 67
Introduction
This section outlines the safety techniques that Ladybird Boutique will put into place to
ensure store success and safety of customers and employees. This section also outlines
equipment and procedures that the store will have to give customers and employees peace of
mind as they shop at the store no matter if it is day or night. The store will have a security
system in place that will allow for a safe environment for customers to shop. Employees will
have personal safety alarms to wear while receiving goods or walking to their car at night,
and the entrances and exits will be lighted and free of hazards to ensure safety of the
customers and employees.
Steps against Shoplifting
There will be a number of techniques that the employees will be able to use to prevent
shoplifting. Specialty Shop Retailing, Retail in Detail, and “How to Prevent Shoplifting” informed
Ladybird Boutique that the main way to prevent against shoplifting in the store will be to
have attentive customer service at all times while they are working. Also, if the employees
make their presence known and check up on customers periodically, the customers will
know that they are being helped with their needs while also being watched from time to
time. Another technique they will use is to have more than one person on the sales floor.
This may not always work out because of the schedule or on slow days, but if they keep
more than one person on the floor, then they will have great customer service and will be
able to avoid shoplifting. Lastly, they will keep the nice jewelry in locked cases. Since they
keep it in locked cases, this will keep people from walking away with their nice jewelry.
Equipment
68. Ladybird 68
Ladybird Boutique will use an alarm system at the store that will protect the store at night
from break-ins. Each employee will get their own code for the security system. That way
they can keep a record of who is coming in and out of the store. This alarm system is an
essential for keeping the store safe and having peace of mind. The store will also have
personal safety alarms that employees can wear while receiving goods and also while the
employees are walking to their cars late at night. This will ensure their safety and make them
feel more comfortable about their jobs.
Steps for Owner to Prevent Employee Shoplifting
There are many steps that Ladybird Boutique will take to prevent employee shoplifting.
These tips to prevent against shoplifting were found from various sources such as: Retail in
Detail, Start and Run Your Own Shop, Specialty Shop Retailing, and “How to Prevent Shoplifting.”
• Hire people that they know as employees or people their friends or family may
know.
• Make employees feel involved in the business while working.
• Have employee purchases rung up by the manager.
• Conduct periodic inventory of store merchandise to ensure correct amounts.
• Offer discounts for employees as an incentive and to keep them from wanting to
shoplift.
• Run background checks on people that are working on their books and accounting.
• Check bank statements and store record regularly.
• Check daily receipts against the list of items sold.
69. Ladybird 69
These are just some of the ways that Ladybird Boutique will prevent employee shoplifting
and promote a good and fun environment to work.
Safety of Customers and Staff
As stated above, the alarm system will provide safety to the employees while they are
working and will give them peace of mind as they are locking up at night. Ladybird
Boutique will also make sure that the entrances and exits are well lit and free of hazardous
objects. This will ensure the safety of the staff as well as the customers coming in and out of
the store whether it is day or night.
70. Ladybird 70
Introduction
This section talks in detail about some of the business opening strategies that Ladybird
Boutique will use in order to open a successful business. These strategies will ensure a
smooth grand opening, and get Ladybird Boutique on track to help serve their customers.
If Ladybird Boutique plans their grand opening, shipments, arrivals of stock, and opening
dates correctly, then it will remain open to serve their customers with quality merchandise
and great customer service.
Estimated Arrival of Stock or Materials
The estimated arrival of stock or materials for Ladybird Boutique will all come in the
month of May. Furniture, supplies, accessories, stock, etc. will all be bought and shipped or
brought to store during the month of May and mostly towards the end of May. This will
make certain that Ladybird Boutique will have everything in place and be prepared for the
store opening in June.
Presentation of Stock or Materials
The presentation of stock or materials in Ladybird Boutique will consist of window
displays with mannequins, mannequins in the store, a custom wall unit to hold shoes and
handbags, tables and dressers to hold jewelry and clutches, and a custom wall unit with rods
for hanging dresses. The presentation of merchandise on these units/furniture will adhere to
several guidelines to make certain that customers see the merchandise, are attracted to the
merchandise, and are not overwhelmed by the merchandise. Here are a few of the guidelines
according to “Merchandising Displays.”
71. Ladybird 71
• Make sure the display is clean and maintains order.
• Do not overcrowd the display.
• Combine products that are used together in the display area.
• Use displays to educate customers on new trends or ideas.
• Make sure the display is effective, yet creative and individualistic.
• Make sure to pay attention to details that can make or break the display.
Opening Date
Ladybird Boutique decided to set opening day as June 3, 2011. The reasoning behind this
date is because once investors are able to see the business plan and get on board, then
Ladybird Boutique will have several months to plan out the store and have it ready by
June 3rd
. Also, June is a great month where a lot of people are out and about enjoying the
summer, and enjoying the nice weather outside. Having the opening date and the opening
events during this time would work out well because more people would be apt to come out
for the festivities if there is nice weather outside and they do not have to worry about
inclement weather.
72. Ladybird 72
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Other Websites Used/Illustrations/Interviews
www.bustersliquors.com
www.costhelper.com
http://ezinearticles.com/?Shopping-Bags-With-Logo-Printing-and-Price-
Breaks&id=4972607
http://factfinder.census.gov/home/saff/main.html?_lang=en
http://factfinder.census.gov/servlet/ADPGeoSearchByListServlet?ds_name=ACS_2009_5
YR_G00_&_lang=en&_ts=314580298399
http://fixupmybody.com/fashion-styling-rates-and-services-pittsburgh-fashion-stylist-jackie-
o/