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Carmen R. Chantelle R. Dara H. Kelly R. Kolby R.

Carmen R. Chantelle R. Dara H. Kelly R. Kolby R. Self Analysis. Personal Strength & Training Education, experience in retail, vision for company Weaknesses Lack of capital resources, inexperience in running a business, and brand identity in community Proposed Growth Strategy

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Carmen R. Chantelle R. Dara H. Kelly R. Kolby R.

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  1. Carmen R. Chantelle R. Dara H. Kelly R. Kolby R.

  2. Self Analysis • Personal Strength & Training • Education, experience in retail, vision for company • Weaknesses • Lack of capital resources, inexperience in running a business, and brand identity in community • Proposed Growth Strategy • Attend trade shows • Establish a training program to enhance leadership and interpersonal communication skills • Establish quarterly, semi-annual, and annual benchmarks to monitor performance

  3. The SkinnyLocation • Business Location- Apx/ Vivint building • Central shopping district • Destination store • Retail and apparel • Benefits to Location • Visibility • Parking • Large window displays • Excellent pedestrian & vehicular flow (convenient entry) • Proximity to other key locations, (Taco Bell, Banks, etc.)

  4. Trading Area Analysis • Competitors Business Locations • Maurice's • Circle of Love • Down East Outfitters • Panache • Ferrell’s Clothing • Kmart • Bealls http://maps.google.com/

  5. Competitors • Wal-Mart • Kmart • Panache • Mila Couture • Lulu Bella’s • Maurice’s • Downeast Outfitters • Bealls • Ferrell’s

  6. Competitors

  7. The Skinny Strengths Weaknesses • Location • Building size • Fashion and Selection • Atmosphere • Not the lowest price point in town • New retailer • Have to coordinate café and clothing store

  8. TheSkinny Opportunities Threats • Gain loyal consumer base • Potential opportunities for expansion • Opportunities for growth • Low disposable income • Not gaining market segment • Losing consumers to Idaho Falls

  9. Business Registration & Requirements • Limited Liability Company • Management flexibility • Pass through taxation • Must register with the secretary of state by submitting its Articles o Organization and pay $100 fee • Must register with the City of Rexburg and pay $20 • Percentage Lease • Reduce monthly rent • Total cost depends on productivity • Avoid upfront costs of purchasing building

  10. Market Segment Analysis • 2010 PRIZM segmentation system definition: • The Skinny’s target market consists of low-mid income young and middle aged individuals and families who value fashion, sports, and lifestyles centered on cars, sports, dating, and family relationships • Target Consumer • Women ages 18-35 • Low-middle income • College and new nesters • Mormon • Modest and conservative styles • Work in the service industry with relatively normal schedules

  11. Layout of the Store

  12. Layout

  13. Café Layout

  14. Logo

  15. Merchandising • Basic Overview • Mid Priced • Wide & Shallow selection • Men, Women, & Children Clothing & Accessories • 61% Markup • High Turnover

  16. Merchandising • What The Skinny offers: • 30-day money back returns • After 30-day in store credit exchange • Layaway program(30% paid up front) • Gift wrapping

  17. Merchandising • Buying Procedures • Acting manager trained as buyer • Dealing directly with wholesaler • Working exclusively with one wholesaler • Benefits of Wholesaler • same day shipping • guaranteed to arrive in 5 business days

  18. MerchandisingProducts

  19. MerchandisingProducts

  20. MerchandisingProducts

  21. MerchandisingProducts

  22. MerchandisingProducts

  23. MerchandisingProducts

  24. MerchandisingProducts

  25. SALES AND PROMOTIONS

  26. Salespeople • Essential to our store and ready to respond to customer’s “needs.” • Their characteristics: • Be a people person. • Be flexible. • Be decisive. • Have analytical skills. • Have stamina. • LOVE fashion. • Young and very fashionable. • Wear black attire or The Skinny’sclothing.

  27. Types of Selling • Personal selling thought out The Skinny. The percentage of personal selling is 100%. • The Skinny total employees is 10 including the founders. • The Skinnywill have a manager and 3 employees each turn. • The store schedule: • Monday - Thursday 10am - 9pm. • Friday & Saturday 10am – 10pm. • Sundays closed.

  28. Customer service • “Happy Clients” is The Skinny’smotto. • Excellent Customer Service is the manager’s main job. • All the returns will be executed in the cashiers. • The Skinny’swebsite 24/7 inquiries service with 24 hours answer period. • The Skinny’swill not incur in extra costs for this service.

  29. Promotional Activities • Tie merchandise by dressing mannequins in trendy fashions. • The Skinny’s coupons for next time purchases. • Price discrimination for BYUI students, senior citizens, and employees discount. • Summer & Winter Sales to sell slow-moving and end-of-season merchandise. • Before classes start clearance to refresh inventory.

  30. CONCLUSION Success!!!!

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