#retail business plan
Clothing Retail Business Plan
Mahogany Western Wear is a new apparel store that caters to the African-American cowboy community in Houston, Texas. As our name suggests our focus is to provide western wear apparel and accessories, and position ourselves as the top retail store servicing this particular market.
We are the first and only African-American owned western apparel store in the city of Houston. Our intentions are to obtain 80% market share and become a central hub of shopping activity for the local African-American cowboy population as well others who enjoy wearing western apparel.
Mahogany Western Wear will be located at 13328 1/2 Almeda Rd. Houston, TX in southwest Houston, TX. Mahogany Western Wear has centralized itself directly in position to the residental location and social activities of our target market. We believe that this is critical to our initial success and long-term growth.
- To create a shopping environment that caters to the apparel needs of the urban African-American cowboy and cowgirl.
- To earn 80% market share and become the number one ethnic western wear apparel store in southwest Houston, TX and achieve name recognition in the local cowboy community.
- To receive a 50% profit margin within the first year.
- To have a customer base of 1,000 by the end of the first operating year.
- To achieve a net profit of £75,000 by year two and £100,000 by year three.
- To be an active and vocal member in the community supporting agricultural events, and equestrian organizations working with children.
Mahogany Western Wear’s mission is to offer quality, name brand western wear in an assortment of sizes and styles to accommodate all varying body styles and shapes.
1.3 Keys to Success
In order to succeed in the western wear apparel industry Mahogany Western Wear must:
- Carry an assortment of sizes to fit the more ample frames of their African-American target customer base.
- Provide customers with top notch personalized customer service in an atmosphere of southern hospitality.
- Advertise and promote in areas that our target customer base will learn about our store.
- Continuously review our inventory and sales and adjust our inventory levels accordingly.