Male Gear Wear (Gear Wear), an online retailer that sells aerobic equipment for men, is located in Ashland Oregon. Gear Wear offers the largest selection in town as well as arguably the best on the Internet/mailorder.
Gear Wear will rapidly gain market share because it offers the largest selection and has a knowledgeable support crew.
Ashland was chosen due to its active, diverse culture. Ashland is well-known for its active, outdoor lifestyle. It is not unusual for people to sacrifice their jobs in return for better quality life. Gear Wear is an Oregon based L.L.C. Stan Gearboy is the main owner.
Keys to Success
Gear Wear has identified three keys to success that they believe will be instrumental in reaching sustainable profitable. First, customers need to be satisfied by the best selection and most knowledgeable staff. Second, success requires that you monitor the competitive environment to ensure differentiation. The accounting systems of an organization are the last. Gear Wear recognized the necessity to adhere to strict financial controls.
Gear Wear’s competitive edge is its unsurpassed selection and sales staff knowledge. Gear Wear offers a unique multi-sports selection that no other retailer can match. These are the type of people who enjoy participating in aerobic sports as part of their daily lives. It’s a part of their lives, something they look forward to. While it may seem painful when you do them, depending on your intensity, it is overall quite enjoyable. This is also why they participate in so many. While some sports are only available during the season, it is impossible to get enough of all of them.
Stan Gearboy is the Gear Wear leader. He is a veteran of outdoor sport. While in undergraduate school, Stan was an active member of two different sport teams. This was Stan’s first exposure of his passion for challenging and aerobically demanding sports.
Following his degree, Stan went to work for R.E.I., a successful outdoor retailer (both brick and mortar as well as mail order). Stan worked many years for R.E.I. Stan learned from the best. Stan enjoyed working in the retail industry. But he realized that if his goal was to open a retail shop, he would need to increase his skill set. Stan studied for his Masters with the goal of opening his own store within the outdoor industry. Stan is the ideal person to help Gear Wear achieve its goals through a combination passion, education, and experience.
Gear Wear has conservatively forecasted explosive sales by the end of year two, escalating continually in year three. The net profit margin is expected to be low in year 2 and moderately rise in year 3. While this appears to be fairly low for a retail operation, Gear Wear has sufficient cash to weather the first few years with the goal of building a sound foundation for the business, including a loyal customer base.
- You can be the leading retailer of men’s aerobic clothing in Ashland.
- Increase market penetration to 10% by year three.
- Within the second year, reach profitability
Gear Wear’s goal to be Ashland’ the best men’s sport clothing retailer is to achieve this mission. Gear Wear will achieve this by providing fair prices, the best selection and knowledgeable staff to help customers in any way. Gear Wear will strive to exceed all of their customer’s expectations.
1.3 Keys to Success
- By offering a broad selection and knowledgeable personnel, you can meet your customers’ needs.
- You can monitor the competitive landscape to ensure differentiation.
- Employ strict financial controls.