Malone’, a start up company, is a boutique retailer of maternity, child and accessory clothing. Malone’s Maternity has a broad range of high-end products that it will be able to offer its customers. The business has been formed as an Ohio corporation by Sandy Malone. Malone’, Maternity will quickly expand its market share with a large selection of higher-end products and outstanding customer service.
Malone’s Maternity identifies two distinct market segments. The first segment includes parents, who either purchase products for themselves or their spouses. This segment grows at a staggering 9% per annum and has 135,457 customers potential. This second group includes friends and people who are buying gifts. This market segment has a 8% annual growth rate with 299,454 potential customers.
Picture this. It is like walking into an elegant boutique on Fifth Avenue. But wait, the clothes are not for upscale models, but for expecting moms and their infants/kids. It may seem unusual but it is necessary. Women who are fashion conscious have searched for upscale boutiques that offer chic, stylish clothing for their children and fashionable clothes for toddlers. There is one other boutique in Cleveland Metropolitan that sells similar clothes, but the shop itself doesn’t convey the feel of an exclusive boutique. Malone’s Maternity plans to thrive by providing upscale products to high-end clients.
Sandy Malone will be the Maternity founder for Malone. Sandy is a Sociology major. After graduating, Sandy began work at Saks Fifth Avenue, an exclusive retail chain. Within four years Sandy was one of the main buyers for the entire chain, a job that provided her with unique insight into the retail industry. Sandy spent several years in this position, collecting a wealth of knowledge and developing important skills. Sandy gained the necessary experience and had three children. Sandy was keenly aware that the Cleveland area did not have many high-end options for expectant mothers and children. With this insight, industry experience, and important skill sets, Sandy will lead Malone’s Maternity to become the premier boutique in the area. Malone’s Maternity will achieve strong sales for years two and three while earning moderate net profit for those years.
- To create a maternity clothes and accessory boutique.
- Quickly gain market share by addressing the upper-end price point of maternity and infant clothing.
- To be financially successful in just two years.
It is Malone’s Maternity’s mission to become the premier maternity boutique for the upscale expectant mother and her child. You will find the latest fashions at Malone’s Maternity and you will receive the best customer care.
Success Keys 1.3
- Offer the finest maternity clothing and accessories for the mothers and children.
- Pamper the customers.
- Establish a financial control system for your business.