1. The Cocktail Hour
BUSINESS PLAN
Prepared by:
LaShana Haythorne
2581 Collin McKinney Pkwy Apt 802
McKinney, Texas 75070
4697129817
LaShana.Haythorne@gmail.com
2. I. EXECUTIVE SUMMARY
The Cocktail Hour (referred to from hereon in as the "Company") is intended to beestablished as a Limited Liability Company
at 2581 Collin McKinney Pkwy Apt 802, McKinney, Texas 75070 with the expectation of rapid expansion in the formal dress
shop industry.
Business Description
The Company shall be formed as Limited Liability Company under Texas state laws and headed by LaShana Haythorne .
LaShana has an MBA from Abilene Christian, specializing in innovation and business structure. LaShana also has been
involved in fashion since She was in high school, and branched out as a stylist to put herself through college. She learned
how to sew patterns, as well as work part-time as a seamstress completing alterations for 6 years.
The Company will employ 2 full-time employees and 1 part-time employees.
Management Team
The Company has assembled an experienced management team:
Co-Owner - Peter Haythorne , 16 years experience as an operations manager
Business Mission
My mission is to provide a place for unique pieces to be found all year around, no matter the occasion. I want to provide an
experience that is rememberable, and allows the customer to leave with a reminder of how remarkable they are.
Product
The Company's primary product will be Womens Formal Wear: We offer dresses for every occasion. We will have customized
dresses that will be unique per customer, along with regular inventory of beautiful gowns we will be able to keep on hand in
different sizes.
We will also be able to provide alterations on site, along with other accessories to complement each style of dress.
3. II. BUSINESS SUMMARY
Industry Overview
In the United States, the formal dress shop industry presently makes 100,000 dollars in sales.
Research shows that consumers in this industry primarily focus on the following factors when making purchasing decisions:
Our Boutique will offer customized, one of a kind dresses that no other individual will be able to mimic. We will be able to
dress for any occasion all year around, not just for prom season.
Business Goals and Objectives
Short Term:
The short-term goal is to bring my vision/passion to life effectively and successfully.
Long Term:
The long-term goal is to be successful and expand our brand.
Legal Issues
The Company affirms that its promoters have acquired all legally required trademarks and patents.
4. III. MARKETING SUMMARY
Target Markets
The Company's major target markets are as follows:
Women with age ranging from 18-40 located in the DFW area.
The estimated number of potential clients within the Company's geographic scope is 6.30.
Pricing Strategy
The Company has completed a thorough analysis of its competitors' pricing. Keeping in mind our competition's pricing and the
costs of customer acquisition, we have decided on the following pricing strategy:
Competitive pricing, discount pricing and product life cycle pricing.
Distribution Strategy
We will distribute directly to customer through retail as well as offer online services available to place orders and have
merchandise shipped directly to customers home.
Promotional Strategy
The Company will promote sales using the following methods:
Online Advertising, word of mouth, print ads, radio stations, etc
SWOT Analysis
Strengths
Offering a one of a kind experience
Weaknesses
New in business, and will need a strong marketing plan to spread awareness of brand.
Opportunities
Offering a hard to find product year around.
Threats
Possible Competitors
Services
First-rate service is intended to be the focus of the Company and a cornerstone of the brand's success. All clients will receive
conscientious, one-on-one, timely service in all capacities, be they transactions, conflicts or complaints. This is expected to
create a loyal brand following and return business.