Continuation of a Business Plan

Doo’s Outdoor Outlet Business Plan

Background

Doo’s Outdoor Outlet store will carry a mixture of well-known designer and common brand names, as well as nationwide and local store labels along with uncountable others in one shopping site all at a fraction of the price! What makes us different from other outdoor stores are that we offer a large selection of outdoor clothing items and gear at discounted rates as they might be last season items or consignment items.

Located in Charlotte, North Carolina Doo’s Outdoor Outlet will be selecting only the best quality stock at discounted prices. We are able to offer stylish, brand name products at 20% - 50% less than those of the other outdoor stores.

Evaluating the Business Idea and the Economy of one Unit

Doo’s Outdoor Outlet will be a startup discount apparel retail store that deals with brand name apparel for outdoor enthusiasts. This business will retail name brand, durable clothes for men, women and children. We will offer brand names such as Polo Sport, Nike, Under Armour, and The North Face. For our avid outdoors men and women we will also carry Arctic Shield, Frogg Toggs, Huntworth and Scent Lok. We will aim to carry a variety of sizes and brands allowing everyone to enjoy outdoor clothing and gear without the department store prices.

Our intent is to provide the community with affordable and quality outdoor gear that they would normally have to purchase at a department store or similar. Doo’s wants to aim for at least 50% of the market share becoming the central hub of local shopping activity for families who spend time outdoors be it camping, play sports or hunting.

Our business will be financed with $50,000 of the owner’s money plus, $10,000 from donations and $72,000 from a business loan. The initial starting cost is estimated at $52,850. Sales are estimated at $292,400 for the first year. We foresee a positive cash flow produced at the end of the first year.

There are no other outdoor discount retail stores of our kind that caters to active families and outdoorsmen alike in the Charlotte area. Our large selection of brand name discounted outdoor clothing is what separates us from the competition. We are looking to position ourselves to become one of the top retail stores in our city.

Business Goals/ Objectives

Doo’s Outdoor Outlet’s mission is to offer quality, name brand outdoor apparel at a reasonable price in an assortment of sizes, styles, colors and designers to accommodate men, women and children. We believe that you don’t have to spend a fortune to have nice outdoor clothing and gear. We will be dedicated to excellent customer service that will keep each customer happy and willing to return to Doo’s for all of their outdoor needs.

The purpose of our company is to offer brand name clothing and gear for anyone who wants to spend their time in the great outdoors. The store caters to families that want to look nice, be casual and/or keep warm while spending time doing the outdoor activities that they love.

Core Beliefs

We want to make Charlotte fall in love with the great outdoors again. Our Core beliefs will center around integrity, honesty, and supplying all those who love the outdoors with quality items at a fair price. Outdoor gear can be expensive but making it affordable might encourage people to get outside again and enjoy nature.

E-Commerce

Doo’s Outdoor Outlet will have a website that will allow customers to know when we get new shipments of clothing in. It will also inform consumers of sales and other promotions. In our quest to be the best discount/consignment store in the Charlotte area we will also add a consignor online information center. Our online information center will encourage consignors to visit our store. The information center will also assist our consignors in checking on the status of their accounts. Each consignor will be given an account number, which will be his or her birthdates. After each consignor items have been sold. We will electronically deposit the money their checking account.

Market Plan

A Market plan can be very useful for a start-up to have. Things that need to be considered include the analysis of market size, demographics, structure, growth prospects, trends, and sales potential. Beyond that we can go a step further and determine how often the products will be purchased by target market, with figuring out the potential annual purchase and what percentage of this annual sum the business either have or can attain (Hill, 2008). Therefore, the marketing plan should focus on who the costumers are and the market of the produced products. Setting prices for our products is one of the most important marketing decision for our business.

Competitive Edge

We have two main competitors. Our closest competition is a store call “Dicks” and our other competition is called, “REI”. Both stores are within 10 miles of Doo’s Outdoor Outlet. While both stores focus on outdoor clothing and gear, neither are discount based. Our low prices should give us an edge for that reason alone. We will also offer our Doo’s Discount card which permits the customer a 15% discount for every ten purchases. Our location in the community will offer close access to our target customer base. We offer the largest selection of outdoor clothing and gear at a discount price.

Within the store we will price each item we buy or accept for consignment based on the original market price. Each item will then be reduced by at least 20% of its original market price. Items will then continue to be reduced by approximately 5% every 30 days. For consignment based items that don’t sell the items may be sent to a charity or returned to the consignor at the end of the consignment period. Consignors will be paid each month for items sold the previous month.

International Opportunities

Doo’s Outdoor Outlet has many opportunities to be successful in the international market should it scale that large. By opening an outdoor based clothing retail store for families we have a chance to take advantage of an untapped market. There are many outdoor stores but none that are discount type establishments. The demand is there and all we have to do is take advantage of it. With the utilization of online marketing strategies, we can attract customers from all over the United States, and eventually customers from around the world, who can place their orders and pay on delivery. We can also merge with some online discount clothing stores that are known worldwide to facilitate our clientele base if our store grows.

Conclusion

Doo’s Outdoor Outlet will be the first store of its kind in the Charlotte, NC area. Although there are outdoor stores close by none of them offer discount clothing and gear to outdoor enthusiasts. Through hard work, quality inventory and excellent customer service Doo’s Outdoor Outlet hopes to be a true success.

References

Hill, C. (2008). International business: Competing in the global market place. Strategic Direction, 24(9).