Modshop by Megan Abero

Brittany, Roderick, Kelsey, Megan

Vision Statement Our vision is to provide customers with products of exceptional quality consisting of collaborative collections with the industry's leading fashion designers, houses, and brands at an attainable price point for today's fashion innovators.

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Our mission is to make Modshop your preferred shopping destination by delivering quality clothing and accessories that exceed both expectations, and industry standards by integrating continuous innovation of brand goods through collaborative initiatives with the fashion industry leaders of today.

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Company Concept & Statement Passion: A company that sells Having our customers Menâ&#x20AC;&#x2122;s and Womenâ&#x20AC;&#x2122;s to dress to impress apparel and accessories that sell at an affordable Niche: Collaboration with price which also different fashion collaborates with highend and up and coming designers to promote new products designers

Company | Products WOMEN’S DRESSES

Evening, Cocktail, & Casual

WOMEN’S TOPS:

Camisoles, Tanks, T-shirts, Blouses, Shirts, Cardigans, Sweaters, Jackets, Hoodies, Coats, Blazers, Vests

WOMEN’S BOTTOMS: Jeans, Skirts, Shorts, Slacks/Pants, Leggings, Jeggings WOMEN’S ACCESSORIES: Necklaces, Rings, Bracelets, Scarves, Earrings, Tights, Bags, Belts

MEN’S TOPS: Tanks, T-shirts, Shirts, Cardigans, Sweaters, Jackets, Hoodies, Coats, Blazers/Sports Coats, Vests MEN’S BOTTOMS: Jeans, Shorts, Slacks/Pants MEN’S ACCESSORIES: Watches, Ties/Bow Ties, Cufflinks, Belts

Culture We want our customers feel excited to shop. We want them to have expectations that we will have trendy, new designs and products for them. •  SMELL: Light and fresh. Not to the point where the smell is overwhelming the customer. The women’s and men’s apparel will have two different scents but they will somehow intertwine with each other. •  SOUND: Trendy Pop Music •  LIGHTING: Spotlighting on new products especially with collaborating designers and on visual displays. Bright lighting in fitting rooms.

Customer

HIGH INCOME FAMILIES AND WORKING PROFESSIONALS

DEMOGRAPHIC: •  Gender: Male and female •  Age Range: 18 – 30 •  Income: Middle and Upper Class, $80,000 é •  Occupation: Students, starting/working professionals •  Education: In college, College Degrees

GEOGRAPHIC: •  City living – Gold Coast, The Loop, Streeterville •  High income suburbs – Downtown Evanston & Northbrook

PSYCHOGRAPHIC:

•  Religion: Catholic/ Christianity

•  Lifestyle: Living a “high maintenance” lifestyle. Working in a business setting. Often eats out and goes out for drinks. Impulsive shopping. Constantly following new trends in fashion.

•  Spending Habits: Compulsive buyer who buy in bulk

•  Characteristics: Decisive. Fashion forward. Fashion conscious. Rich.

•  Race/Nationality: Americans – Caucasians mostly

Customer

IDEAL FEMALE VANESSA ANN HUDGENS

IDEAL MALE JUSTIN GORDON LEVITT

Competition DIRECT

INDIRECT

SWOT Analysis Strengths: •  Broad price range •  Trendy •  Large quantity of inventory •  Location

Opportunities: •  Growth and international expansion

Weaknesses: •  Sales associates •  Centralized production

Threats: •  Economy •  Competition •  Quality with high production rate

730 North Michigan Avenue, Chicago, IL 60611 •  DEMOGRAPHIC OF MICHIGAN AVENUE: http://www.loopnet.com/xNet/MainSite/Listing/Profile/ ListingDemographics.aspx? LID=17458194&SRID=2982427671&PgCxtGuid=45b5f cdd-88ba-4459-816ab346c6dcc2e3&PgCxtFLKey=SearchResults&PgCxtCur FLKey=Profile&PgCxtDir=Down •  DEMOGRAPHIC OF AREA CODE 60611: http://homes.point2.com/Neighborhood/US/Illinois/CookCounty/Chicago/Michigan-Avenue-Demographics.aspx

Location Fact Sheet •  TOTAL SQUARE FOOTAGE: 22,000 Square Feet •  DOLLARS PER SQUARE FOOT: $70.00/SF •  MONTHLY RENT: $128,333.33 /Month •  MONTHLY UTILITIES: •  ELECTRICITY: $250.00 •  GAS: $100.00 •  HIGH SPEED INTERNET/TELEPHONE USAGE/CABLE: $80.00 CROSS STREETS: Michigan Avenue & East Superior Located directly across from Saks Fifth Avenue and Neiman Marcus CO-TENANTS INCLUDE: Tiffany & Co., Victoria' s Secret, Polo Ralph Lauren, The Peninsula Hotel Chicago, Banana Republic, Anthropologie and Nordstrom Rack.

•  LOCATION OF ENTRANCE/EXITS: •  Michigan Avenue •  East Superior: connected to the Peninsula Hotel Chicago

P l a n o g r a m

Product/Service | Merchandise Assortment

Store DĂŠcor & Visual http://pinterest.com/brittlippert/retail-management-class/

Service Levels: • Layaway (n/a) • Merchandise Holds (3 day) • Alterations (outside source-1.5/2 weeks) • ReturnsClientelling / Customer Service (Management team to develop customer relationsins/programs/ events)

Marketing: Place (where is your product going to be distributed): 730 North Michigan Avenue, Chicago, IL 60611 Price (premium, promotional, value pricing): Budget of between $10,000$30,000 depending on month/season Promotions and Events (how to inform potential customers about you): “El” advertisements [$900-$2,500], Facebook “event” invites, grand Opening appearance/promotion. Advertising (message and where you will advertise specifically): “High Fashion is Finally Affordable.” Where: the “EL,” Facebook/Socisl media, our website, Youtube, guerilla marketing. Publicity (press release, website, networking): http:// shopmodshop.blogspot.com/ Advertising Calendar and Budget: See calendar. ($10,500) for first month. ($10,000) from pervious (“EL” advertisement)

Organizational Management MANAGEMENT STRUCTURE

MANAGEMENT AND LEADERSHIP STYLE

Vice president Regional Director District Manager Store Manager Assistant Manager Sales Manager (2) Key Holder Sales Support

Democratic/Authoritarian •  •  •  •  •

Making goals and delegating tasks Giving specific direction Problem solving Coaching in the moment Candidates for members of management team will exude qualities such as being committed, confident, learning from mistakes and having a clear vision and purpose.

Organizational Management EMPLOYEE MOTIVATION

•  Commission based pay

•  Rewarding positive behavior •  Contests •  Sales goals •  Individual development plans

SELLING PROGRAMS, EMPLOYEE BONUSES AND INCENTIVES

•  All sales associates will be given three percent of everything they sell during their shift in addition to a competitive hourly rate. •  If employee meets their monthly goal, every month for one fiscal year, they will be eligible to receive a higher percentage of commission. •  Store management will be eligible for monthly bonuses if total sales plan for the month is met •  Holiday contests will be implemented for an extra push in sales

Organizational Management: Goal Setting MONTHLY GOALS FOR ASSOCIATES WILL BE BASED ON A PERCENTAGE TO THE BUSINESS, DIVIDED BY THE NUMBER OF HOURS WORKED BY THE EMPLOYEE. EXAMPLE: Our top selling, full time sales associate will be goaled between 15-20 percent of our monthly sales plan whereas an employee working only one day a week would be goaled between 5-10 percent.

GOALS

MTD

ASSOCIATE

JANUARY

TOTALS

Associate 1

17,100

0.00

Associate 2

17,100

0.00

Associate 3

17,100

0.00

Associate 4

17, 100

0.00

Associate 5

11,400

0.00

Associate 6

5700

0.00

Associate 7

5700

0.00

Associate 8

5700

0.00

Associate 9

5700

0.00

TOTALS

114,000

0.00

Human Resources Policies Ethics, Discounts, Training, Handbook (Manual) •  All information regarding HR and ethics will be found in our retail handbook. Handbook will include attendance policy, safety and loss prevention topics, information on benefits and pay system/schedule •  All active employees will be given fifty percent off regular priced merchandise. Items purchased in which are on sale, will be twenty-five percent off the sales price or half off original (whichever is greater). •  All new employees will undergo a thirty day new hire program in which they will learn register functions, company goals and ethics, floor awareness, product knowledge and selling techniques.

Human Resources Policies Hourly Rates & Bonuses • Store management will be given salary with potential to bonus every month • Sales associates will be given hourly wage plus commission

Schedule Sheet - Week of 12.08.2012 Day Hours:

Sunday 10-6

Monday 10-9

Tuesday 10-9

Wednesday 10-9

Thursday 10-9

Friday 10-9

Saturday 10-9

Total

Store Manager

9-6

OFF

1-10

OFF

9-6

1-10

10-7

Assistant Manager FT Sales Manager

OFF

9-6

OFF

10-7

11-8

9-6

OFF

11-7

OFF

1-10

PT Sales Manager

12-7

2-10

OFF

9-5

OFF

9-6

OFF

29.5

Associate 1

10-3

OFF

5-10

10-3

OFF

2-7

11-8

Associate 2

OFF

10-6

11-4

OFF

1-7

10-4

2-10

30.5

Associate 3

11-4

1-7

OFF

9-6

OFF

3-10

10-6

Associate 4

OFF

11-4

10-3

5-10

2-7

5-10

OFF

Associate 5

2-7

OFF

3-8

5-10

1-7

5-10

Associate 6

12-5

OFF

2-7

1-7

OFF

3-8

OFF

Associate 7

OFF

5-10

OFF

10-3

OFF

1-6

Associate 8

OFF

10-3

12-5

Sales Support 1

OFF

10-3

5-10

OFF

12-5

2-7

Sales Support 2

1-6

OFF

10-3

3-8

10-3

OFF

1-10

10-7

9-6

Merchandise Classification | Women’s Classification WOMEN'S DRESSES Evening Cocktail Casual WOMEN'S TOPS Camisoles Tanks T-Shirts Blouses Shirts Cardigans Sweaters Jackets Hoodies Coats Blazers Vests

Identification Number 1010 1011 1012 1110 1111 1112 1113 1114 1115 1116 1117 1119 1120 1121 1122

Classification WOMEN'S BOTTOMS Jeans Skirts Shorts Slacks/Pants Leggings Jeggings WOMEN'S ACCESSORIES Necklaces Rings Bracelets Earrings Scarves Tights Handbags Belts

Identification Number 1210 1211 1212 1213 1214 1215 1310 1311 1312 1313 1314 1315 1316 1317

Merchandise Classification | Men’s Classification

Identification Number

MEN'S TOPS

Classification

Identification Number

MEN'S BOTTOMS

Tanks

2010

Jeans

2110

T-Shirts

2011

Shorts

2111

Shirts

2012

Slacks/Pants

2112

Cardigans

2013

MEN'S ACCESSORIES

Sweaters

2014

Watches

2210

Jackets

2015

Ties/Bows

2211

Hoddies

2016

Cufflinks

2212

Coats

2017

Belts

2213

Blazers/Sportcoats

2018

Wallets

2214

Vests

2019

Sales Classification Month | Year Jan Percent

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

11%

17%

100%

Women's Dresses

498

Women's Tops

390

Women's Bottoms

273

Women's Accessories

193

Men's Tops

327

Men's Bottoms

237

Classification

Men's Accessories Total Sales

$160.0000 $120.0000 $120.0000 $140.0000 $140.0000 $140.0000 $160.0000 $160.0000 $160.0000 $140.0000 $220.0000 $340.0000 $2,000.0000

Business Hours of Operation Open: Monday - Saturday 10am-9pm Sunday 10am-6pm Closed: Thanksgiving Day Christmas Day

Lost Prevention & Security

INTERNAL THEFT: •  Training of staff on lost prevention •  Prosecuting employees caught stealing •  Pre-employment screening •  Reference from former employer PREVENTION OF MERCHANDISE THEFT: •  Notice large bags not from area stores •  Welcome guests, have greeters •  Take merchandise to counter and fitting rooms instead of customer holding it •  Never leave register un attended •  Sensor all merchandise •  Be aware of fitting room inventory •  Clear garbage liners •  Manager approval of all mark downs •  Manager approval of all shipments of delivery •  Check employees purses when leaving store SECURITY: •  During high volume days have a security guard or plain clothes detective by door •  Install surveillance cameras

Daily Sales Plan January Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Total

Daily Plan

Actual

Last Year

Commulative Plan

Act

Plus/Minus MTD

$4,000 $4,000 $4,000 $4,000 $8,000 $5,000 $4,000 $4,000 $4,000 $4,000 $4,000 $8,000 $5,000 $4,000 $4,000 $4,000 $4,000 $4,000 $8,000 $5,000 $4,000 $4,000 $4,000 $4,000 $4,000 $8,000 $5,000 $4,000 $4,000 $4,000 $4,000 $144,000

$3,550 $4,000 $4,000 $4,000 $8,375 $5,000 $4,000 $4,000 $4,100 $4,000 $4,999 $8,685 $5,890 $4,000 $4,000 $4,100 $4,000 $4,000 $8,300 $5,999 $4,000 $4,000 $4,800 $4,000 $5,000 $8,900 $5,000 $3,800 $4,000 $4,000 $4,000 $150,498

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$4,000 $8,000 $12,000 $16,000 $24,000 $29,000 $33,000 $37,000 $41,000 $45,000 $49,000 $57,000 $62,000 $66,000 $70,000 $74,000 $78,000 $82,000 $90,000 $95,000 $99,000 $103,000 $107,000 $111,000 $115,000 $123,000 $128,000 $132,000 $136,000 $140,000 $144,000 $144,000

$3,550 $7,550 $11,550 $15,550 $23,925 $28,925 $32,925 $36,925 $41,025 $45,025 $50,024 $58,709 $64,599 $68,599 $72,599 $76,699 $80,699 $84,699 $92,999 $98,998 $102,998 $106,998 $111,798 $115,798 $120,798 $129,698 $134,698 $138,498 $142,498 $146,498 $150,498 $150,498

-$450 -$450 -$450 -$450 -$75 -$75 -$75 -$75 $25 $25 $1,024 $1,709 $2,599 $2,599 $2,599 $2,699 $2,699 $2,699 $2,999 $3,998 $3,998 $3,998 $4,798 $4,798 $5,798 $6,698 $6,698 $6,498 $6,498 $6,498 $6,498 $86,352

Check out the website! http://shopmodshop.blogspot.com/