Value Proposition
541 Vintage has a unique and high-end collection of vintage apparel. We offer them both in-store and online. We aim to offer clothing that isn’t available in the fast fashion market, so individuals can show off their unique styles. This helps our customers keep a few extra dollars in their bank accounts, and reduce clothing waste, all while looking incredible.
The Issue
While Eugene has a couple of shopping options in the resale arena, consumers often complain that the resale stores are filled with an abundance of low-quality and over-priced options that are time-consuming to wade through.
The Solution
A carefully selected collection of vintage clothes, accessories, belts,bags, and records. Our aim is to provide unique and unusual items at affordable prices. We also offer superior customer service, which brings us consistent customers.
Target Market
The 541 Vintage’s primary market is young adults who are looking for unique and well-made clothing at a reasonable price. Common attributes are:
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A passion for fashion, collecting and design.
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The desire to be different from others.
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Interested in vintage items for a bargain?
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A desire to support resale and sustainable fashion.
A secondary target market are shoppers who enjoy hunting for treasures or bargains.
Competitors & Differentiation
Current Alternatives
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You can find several thrift stores in your area (St Vincent de Paul’s Church, Buffalo Exchange or Plato’s Closet).
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A few vintage clothing shops are locally owned (Eugene Jeans N.E.S.T. )
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High end vintage furniture/clothing thrift stores (Oak Street Vintage).
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Vintage clothing thrift shops online (Mercari, Etsy and eBay)
Why Us?
Every year, clothing waste rises. Gleichzeitig, many people end up buying clothes that are:
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Seen by other people
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Made of lower quality and built cheaply
- Contributes often to poor working conditions of marginalized communities across the world.
Thankfully, buying recycled items means that cheaply made fast-fashion pieces are kept out of the landfill while you stand out from the crowd in authentic vintage clothes. 541 offers a wide selection of carefully chosen items both in-store and online. Vintage has history, vintage has character, and vintage is synonymous with quality.
Funding
For 700 square feet, the target space for leasing on East 7th and Willamette costs $14.61/SF/YR. Rent is calculated to be $9,900 per year, $825 per month, not including utilities or janitorial services. $5,000 will go into remodeling retail space. The initial inventory price will be $15,000. Marketing cost for the launch of the business amounts to about $2,000. Operating costs for the first year, including salaries and bills, total $2,000.
You will need $56,900 in initial funding.
Sales Channels
Retail location
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Website
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Instagram
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Google Ads
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Facebook
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Google Ads
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Insta
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Facebook ads
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Affiliates/Influencers
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Blogs/Newspaper
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Flyers/Signage
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2023: $65,000
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2023: $74,000
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2024: $87,000
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2023: $56,900
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2023: $60,000
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2024: $70,000
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2023: $8,100
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2023: $14,000
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2024: $17,000
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Apply for necessary permits and licenses – August 1, 2023
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Renovating — August 21st, 2023
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Install shelves and racks for merchandise — August 25, 2023
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Added initial store inventory – – August 27, 2023
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Take professional pictures of the space — August 31, 20,23
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Create websites, social media accounts, and google/yelp pages — September 1, 2023
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Conduct initial interviews and hire employees –, September 5, 2023
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Now Open — September 15, 2023
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Google/Yelp review forecast — November 1, 2023
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Create a relationship tree with vintage clothing suppliers — December 15, 2023
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Install a stand at your local farmer’s marketplace — March 15, 2023
- Donation based stores: Goodwill & Saint Vinnies can be used as a resource for vintage clothing that you then resell.
- Estate Sales Build relationships with local estate sales companies
- Students Organizations: Search for organizations that share a strong passion for fashion and/or sustainable development and reach them by email or flyers.
- University of Oregon Students Students with proof of ID get discounted rates
- Creation 541 Vintage Fashion Show This allows local fashion designers/artists the opportunity to show their work while having access to 541 Vintage’s stock.
Marketing Activity
Financial Plans
The ongoing expenses for utilities, employees, taxes and advertising will be included. Maintaining a consistent flowing inventory will be a significant cost to keep the store running effectively. Another consistent cost will include advertising expenses that cover paid ads, website maintenance, and affiliate/influencer contracts.
Revenue:
Expenses/Costs:
Profit:
Milestones
Key Roles and Team
Owner/Manager
Sales Associate/Cashier
Assists the owner to purchase vintage clothes for instore consignment. Also, identifies items that will be sold. Maintaining a clean and orderly sales floor by operating a POS system. Assisting with inventory and tracking, and also creating labels/displays for merchandise.
Partnerships & Resources
The goal of these partnerships is to create exposure to the immediate target market and increase 541 Vintage’s stake in the local vintage retail market. This will allow 541 Vintage to expand its inventory and keep it a leading collection of unique vintage items.