Style Boutique

Cassidy Duffy, Julia Meadows, and Sydney Kollins

Six Business Activities For Your Business


1.. Generating ideas: Describe your product or service and tell about how you developed it. Also tell how you researched the market for competition in your area.

  • Our services name is Style Boutique and it is a clothing store that varies from all different styles, we are one of the only stores that sells clothing in the area because Rochester is so small that there aren’t many stores to choose from. We searched clothing stores in rochester and the only store they have is Remarkable Resale and that is our only competition but I think people will come to it because it is not that far from where they live and we have the cutest style and clothing.

2. Raising Capital: Where is the money coming from to start your business? (your own money, financial investors, loans)

  • We needed 200,000 to start our business. We each put in 15% so that together we put in 55% and got a 45% loan from the bank to start our business.

3. Employee & Training: Tell about your procedures for recruiting, hiring, and training employees for your business.

  • Style Boutique is looking for any employee with great style. We only hire the most stylish people, it’s important to have stylish workers when you work for a boutique. Training our employees is easy all we do is teach them correct salesperson talk and teach them how to work the cash register, and be stylish.

4. Buying Goods & Services: Where will you get supplies to operate your business. (office supplies, cleaning supplies, materials for production, etc)

  • To operate our business we need clothes, clothing racks and beauty products. Also we need the basics, cleaning supplies and air freshener. It is also very important that we have pictures on the wall for some style and originality.

5. Marketing Goods & Services: How will you market your business? (phone book, newspapers, radio, magazines, Internet, television) Make sure you take into consideration the costs for these different types of advertising.

  • Our business will be marketed on the radio, in the newspaper, and on the internet at styleboutique.com. As a new business in the Rochester area we will start small and as we gain reputation we will also begin to advertise more and more.

6. Maintaining Business Records: How will you track orders and payments, customer information, records that you must submit to the government for taxes, etc., accounting)

  • Style Boutique will hire an accountant to help with the records we need to submit to the government. Also Julia will help with the customer information and the taxes. Given the fact that Julia and the accountant will be working together and that the business is small between the two of them they should be able to cover all the necessities of Style Boutique.



Big image

Mission Statement

The mission of style boutique is to help people around the community of Rochester with their sense of style. We also promote a respectful business where all the employees are dedicated to help you with your needs. Style Boutique is one of the top boutique in the area do to our services.


Partnership

We chose to do a partnership between the three of us. The reason we picked a partnership is because theirs three of us and we can each contribute to the startup of our bus There are upsides and downsides to having a partnership. Some upsides are all owners are responsible for key business decisions and functions so the responsibilities are equally distributed among the three of us. A downside to a partnership is that the profit is split so we each make less and we are each is liable for debts if the business fails.


Goals

  1. Pay off our bank loan within a year

  2. Open a store in Springfield

  3. Expand our merchandise

  4. Improve efficiency

  5. Improve human resources