Business plan ( executive summary)

1) Project Overview/ Description

· Retail Business – New location

· Open a new location to expand business and service additional customers

· Merchandise Sales 

2) Project Purpose/Justification

· Available working capital for the funding of a new location justified by prior years sales and growth

· Analysis confirms additional location will increase sales through expanded customer base

· Expanded customer base increases overall sales and improves brand image

3) Project Objectives / Successful Criteria

· Increase Sales/Revenue by 10%

· Expand customer base to new geographical area

· Improved brand image through customer interaction and experience

4) Requirements

· Location-

· Captures additional market share

· Centrally located to manufacturing and distribution channels

· Lease in high traffic desirable beach location improving brand recognition and image

· Brand image –

· meet and exceed quality standards previously established by existing store locations

· Product selection and inventory exceed previously defined organizational standards

· Return on investment –

· Stakeholder expected return on investment to meet project expected output requirements

· Financial investment Debt/Equity ratios meet stakeholder requirements

· Documentation & Record keeping -

· Prepare and maintain all appropriate documentation for charter project

· Verify all appropriate level approvals are provided upon each phase of the project

· Resource control, inventory management

5) Assumptions and Constraints

  The project charter has been established as a growth initiative for Fun in the Sun Beach wear and the objective of the initiative is to increase product sales while improving the brand image in the form of a new geographical location. The products provided to our customers should reflect and improve the image of Fun and the Sun Beach wear. The product should be delivered in a manner that exhibits the highest quality established by the organization. All acceptance criteria must be met as established to proceed with the endeavor or a new store location. Project exclusions that are not outlined in the initial documents approved by the board will need board or owner approval prior to initiation of changes to the original contract.

6) Risks

· Selecting consulting services with the appropriate expertise in merchandise expansion projects

· Adhering to financial obligation and budgeting constraints to ensure stakeholder value

· Location selection that meets organizational goals to grow the brand image

· Ensuring appropriate record and documentation processes are upheld to ensure all local and federal laws and guidelines are met

· Ensure that all guidelines for policy and procedures are consistent with existing stores

7) Milestone schedule

· Capital Availability through 2021

· Site location Selection

· 12-01-2020

· Lease signed

· 12-31-2020

· Location Renovation and Build out

· 03-30-2021

· Inventory planning & placement

· 04-15-2021

· Hiring/Training Employees

· 05-01-2021

· Store Grand Opening

· 07-04-2021

8) Budget Summary

· Overall Budget

· $150,000

· Consultants Services

· $15,000

· Lease Agreement

· $20,000

· Lease hold renovation/build out

· $20,000

· Human resources Budget

· $10,000

· Marketing/Advertising campaign

· $10,000

· Inventory Placement

· $65,000

· Discretionary Spending

· $10,000

9) Stakeholder list

· Fun in the Sun Beach wear

· (Owner – Gregory Coolridge)

· Fun in the Sun Beach wear

· (Board of Directors)

· Fun in the Sun Beach wear

· (Stakeholders/Investors)

· Fun in the Sun Beach wear

· (Project manager)

10) Project approval requirements/ who signs off on the project / what constitutes project success/who decides the project is successful

_____Project initiation approval

· _____Owner – Gregory Coolridge

· _____Board of Directors – Vote

· _____Shareholder – Proxy Vote

· _____Project manager – Amy Lee

_____Consulting Agency Selection

· _____Owner – Gregory Coolridge

· _____Project Manager – Amy Lee

_____Phase 1: Project Planning

· _____Owner – Gregory Coolridge

· _____Project Manager – Amy Lee

· _____Consultant Services -TBD

_____Phase 2: Site/Lease selection

· _____Owner-Gregory Coolridge

· _____Project Manager – Amy Lee

· _____Consulting Services-TBD

_____Phase 3: Financial Planning

· _____Project Manager – Amy Lee

· _____Consulting Services-TBD

_____Phase 4: Inv. Planning & Product Placement

· _____Project Manager – Amy Lee

· _____Consulting Services-TBD

_____Phase 5:Human Resource Hiring/Training/Grand opening

· _____Project Manager – Amy Lee

· _____Consulting Services-TBD

11) Assigned project manager, responsibility, and authority level

 Assigned Project Manager – Amy Lee

Responsibilities:

· Creation of project management team

· Assigning team roles and responsibilities

· Preparing project organizational charts

· Defining and managing project resources

· Locating consulting agency firm for selection process

· Preparing documents for Project Planning phase 1

· Preparing selections for site selection phase 2

· Financial Planning documentation phase 3

· Inventory Planning & product placement

· Human resource Company selection

· Hiring, training, grand opening policies, and procedures documents.

· Resource Control

*Project Manager has full oversight of the preparation of all assigned duties with 2nd party approval from Board or company owner.

12) Name and authority of the sponsor or other persons authorizing the project charter

Team Charter to be prepared by the board of representatives and the final authority is signed by the owner of the company, Gregory Coolridge. Amy Lee will manage the project with full authority of any changes to be decided with board or representative’s approval.