HEAD OVER WHEELS “a mobile fashion boutique”
Head Over Wheels started out as a dream but over time, the dreamer of this “on the go” company realized that fantasy could and would become reality. The dreamer behind this business plan is Alicia Gonzalez. As an entrepreneur at heart, Alicia realized early on in life that owning her business was the path she was suppose to travel down. After serving her country for six years as a Staff Sergeant in the United States Army, Alicia appreciated more than ever the skills and discipline the military had instilled in her. Upon leaving the military, Alicia was accepted into the Fashion Marketing and Management program at the Savannah College of Art and Design. It is here where she realized that her dreams of owning her own business was not only possible but within arms reach. As a mother to a 3 year old baby girl, Alicia’s main goals in life are to be a good role model to her daughter and to show her that nothing in life is out of arms reach. In this book, you will explore and travel the Head Over Wheels concept as Alicia takes you from start to finish with her plan to become the next mobile fashion boutique.
HER STORY
TABLE OF CONTENTS Mission-Vision Values Market THE MILLENNIAL Consumer Design & Concept Locations PRODUCT ASSORTMENT Budget Proposal Conclusion Sources
MISSION “Head Over Wheels is a mobile boutique that brings fashion to our customer through a new and innovative shopping experience. We fill our truck with the latest trends and provide a personalized shopping environment to ensure that every on-the-go gal gets her fair share of the newest styles.”
VISION “To provide a convenient and customized shopping experience by hand selecting products exclusively with our customers in mind and then delivering our products to the foot of their travels.”
ADVENTURE AESTHETIC KNOWLEDGE CREATIVITY HONESTY
ENVIRONMENT TEAMWORK COMMUNICATION APPEARANCE INTEGRITY
VALUES
“Here’s a simple but powerful rule always give people more than what they expect to get.”
-Nelson Boswell
Mobile boutiques stocked with clothes and accessories are hitting the streets everywhere from Texas to Oregon. It’s very important for Head Over Wheels to understand what place in the market is right for our business. In our market analysis we will explore where the fashion truck craze has become the most popular and who our current competition is. In order to strategically bring Head Over Wheels to life, it’s very important that we offer something unique that no other truck is currently providing.
Market Analysis
Los Angeles
One of the first mobile boutiques in LA, Le Fashion Truck has been paving the way, providing a unique and cozy home for local designers’ wares. With overhead costs generally lower than their brick-and-mortar counterparts, trendy trucks are able to literally bring you top notch fashions at affordable prices; finds on board the Le Fashion Truck range from $5-$42, including chic, hand-made jewelry crafted by truck co-owner Jeanine Romo. The lucky residents of Los Angeles can also look to JD Luxe for an edgy, one-of-a-kind shopping experience. Dreamt up by Jordana Fortaleza and Tyler Kenney, this on-the-go shop features playful, modern clothes by up and coming coming designers, while LA-based “BNIB,” is a truck specializing in “Brand New in Box” sneakers and hip accessories. Last but not least, Bath Petals may be the only “boutique bus” to sell Greek Honey Mint bath salt and other fresh, natural products for the body and home. Originally designed as a promotional vehicle, the owners of Bath Petals decided they didn’t want to wait on store stores to be found, and took their “flagship store on wheels” out to meet “their girl” in an organic way; now they can set up shop at art shows, food festivals, marathons and more.
San Francisco If you find yourself in San Francisco this summer, be sure to add TopShelf to the top of your itinerary. Just making its debut this past May, gals can head to the trendy spot “where fashion rolls,” and score flirty, feminine styles while browsing amidst the pretty, pink ambiance. Owner Christina Ruiz believes trucks like TopShelf will continue to have a future in fashion, citing that “Times are changing ... so it’s only natural that the traditional ways people [shop] will change too.”
Texas
Next up, Bootleg, Austin, which can be founded deep in the heart of Texas, touting an impressive array of fine footwear from around the world around the state’s capital. The 30-foot Airstream Land Yacht contains an enticing selection of hard-to-find shoes, bringing joy to both trendy Texans and Bootleg’s owner/stylist Sarah Ellison Lewis. Dallas-dwelling fashionistas also have their own on-the-go hub for cool, retro clothes in the form of The Vintage Mobile, an ‘80s schoolbus lovingly repurposed by husband/ wife duo Jeremy and Kelsey Turner. About to celebrate its first birthday in July, The Vintage Mobile stocks a wide assortment of quirky T-shirts, Mad Men-era dresses, and of course, cowboy boots.
Portland, OR
Calling all Oregonians! If you haven’t heard about Lodekka, now’s the time to hop on board! After losing her job in 2010, founder Erin Sutherland bought a 1965 double decker bus from Liverpool England, and transformed it into the surprisingly spacious retail destination it is today. The one-stop-shop contains everything you need for a night out, from vintage accessories to delicate, antique frocks; Lodekka even sells men shirts, ties, kids items, and features a dressing room. Wanderlust is another fantastic Portland-based boutique that calls a 1969 Cardinal Deluxe Travel Trailer home. In fitting with its fun, retro exterior, Wanderlust is packed to the brim with vintage and handmade accessories, and a drool-worthy collection of clothes curated from decades past, including bowties, beaded cardigans, jackets and jewelry.
New York City
And of course, NYC girls on the go can scoop up A-list accessories on the avenue thanks to the Styleliner truck. Owner and designer Joey Wolffer sees her glamorous bus as not only a way to make a living, but to develop her own brand identity in an unusual way. She can travel the Northeast, city by city, picking up new fans along the way; they can then shop Styleliner.com, helping Joey spread the buzz about her business. Even if you’re not a clothing connoisseur, there’s still a mobile shopping experience for you. Cookies N Cream is an indie, grassroots company that churns out clothes and designer toys influenced by NYC’s underground culture, street art and music scene. You can browse their website, BakedinNY.com, or follow them on Twitter to see where they’ll be setting up shop next.
Boston
For the men out there, Boston’s own Green Street Vault is guy-founded and guy-approved. The brainchild of recent college grad Derrick Cheung, Green Street offers up an ever-changing inventory of novelty gifts and accessories, grown out of Cheung’s passion for bringing a diverse and eco-friendly mix of products to people in a fun and fresh way. Lastly, since 2009, Amy Chase has been bringing a touch of classic Americana to customers all around the Boston area via her ‘50s aluminum teardrop trailer. Under the name Haberdash Vintage, Amy sells party dresses, shoes and accessories ranging in price from $3-$50; the nostalgia and memories of a simpler time that come with the experience are free. What better reason to keep on truckin’?
Millennials—born between 1980 and 2000—are both the 20th century’s last generation and its first truly digital one. This old century/new technology dichotomy gives pause to marketers attempting to understand and connect with this key demographic. But are Millennials really a unique new breed of plugged-in, networked savants? Or do these prized consumers share critical similarities with previous generations? To find out, Accenture conducted proprietary global market research on the shopping behaviors of 6,000 consumers, of which 1,707 were Millennials, across eight countries (see Sidebar). We also looked at the capabilities of 60 retailers worldwide to determine whether they were providing the customer experience this generation demands.
The Millennial Consumer
Facts About Millennials:
To give some idea of the stakes involved: There are roughly 80 million Millennials in the United States alone, and each year they spend approximately $600 billion. While originally typecast as financially dependent teens, today’s Millennials include young adults in their 20s and 30s. Many have careers, are raising kids and live in their own homes. While Millennials are already a potent force, they will truly come into their own by 2020, when we project their spending in the United States will grow to $1.4 trillion annually and represent 30 percent of total retail sales. Millennials will have a major economic impact in other markets our research covered as well. Although Millennials have earned a reputation for viewing the world through a uniquely digital lens, our results found some remarkable similarities between them and their predecessors: the Baby Boomers (born from 1946 to 1964) and Generation X (1965 to 1979). • More than half (55 percent) of the survey respondents, in all three demographics, said that they seek out “the cheapest return option.” • Forty-one percent of all three groups said they practice “showrooming”—examining merchandise at a nearby retail store and then shopping for it online to find the lowest price—more often than they did a year ago. • Thirty-six percent of those surveyed from all three generations said they will go online to buy from a retailer’s website if they want a product when the company’s stores are closed. • On average, 89 percent said having access to real-time product availability information would influence their shopping choices of which stores they would frequent.
The Head Over Wheels traveling boutique will be a converted shopping destination that also serves as a truck. The outside will feature an aqua blue wrap with our logo, social media information and website link which will appear on both sides of the truck. We believe that marketing is a key success factor for our business and by clearly displaying all of our contact information on the side of our truck, we will not only bring brand recognition to our company but it will also serve as a form of free advertising. The concept of our truck is to bring a bohemian vibe to every customer’s visit. The inside will feature white racks and shelves and it will be restocked and cleaned on a daily basis. The outside of our truck is what draws our “gal” in but the inside is what keeps her coming back for more. The music we play will reflect the places we stop and the mood of the latest trends.
Design & Concept
The Head Over Wheels traveling boutique will travel to and from different locations by taking advantage of it’s mobility. Based on market research and business laws, Head Over Wheels will service four areas at the start of business. These four locations include: Orlando, FL, Jacksonville, FL, Atlanta, GA and Charleston, SC. I have chosen these strategic locations because they are close to my home of record and are easily accessible as well as profitable points of entry. Head Over Wheels will have the ability to travel outside of it’s four initial locations once a steady flow of business has been established and when opportunity in new market areas surface.
Locations
Location #1: Orlando, FL
• Orlando International Airport is ranked the 13th busiest passenger airport in the nation and 29th busiest in the world. • Orlando’s retail continues to benefit from the area’s thriving tourism industry which had nearly 57 million domestic and international visitors in 2012. • The Orlando Fashion Square Mall was sold for $35 Million in February 2013 and was the largest transaction of the year based on size at 1 million square feet. Those invested in Orlando’s retail market have many reasons for optimism in the future. Most notably, the ever-expanding tourism industry continues to invest in the Orlando area.
Location #2: Jacksonville, FL
• All signs point to growth in the Jacksonville retail market, as new developments are underway, consumer confidence increases and vacancy rates decline. • Nordstrom and Nordstrom Rack are currently under construction to build their first locations in Northeast Florida. Nordstrom Rack will be located in the Markets at Town Center occupying 35,000 square feet and Nordstrom Department Store will be located in the third phase of the highly desirable St. Johns Town Center – both located in the Southside submarket. • This positive growth is prompting optimism for investors, landlords and new tenants to enter the market allowing new retail developments to commence and occupancy rates to increase.
3.4% GDP Expected Growth Rate in 2014 • Atlanta’s retail market exhibited healthy demand growth through the start of 2013. The overall vacancy rate continued to decline at a slow and steady pace ending the second quarter at 14.1%, above the U.S. rate of 10.6%. As of the end of June, vacancy in the Atlanta market declined 20 basis points from the 14.3% vacancy rate posted at 2012 year-end. Rental rates in several key Atlanta sub-markets continue to show slow and steady growth as vacancy improves. Largely due to accelerated leasing velocity, the generous lease concessions prevalent over the past three years are beginning to tighten.
Location #3: Atlanta, GA
• The Charleston retail market continued to improve since midyear 2013 with increased occupancy rates and new construction. National tenants are showing a greater interest in Charleston. Bass Pro Shops, Southern Season, H&M, Chipotle and Madewell all opened stores or announced plans to locate to the market. Mixeduse developments in Charleston’s urban cores continued to bring new street level retail to apartments, hotels and office buildings. Much of this is complimentary shop space, but in some proposed developments, there are more significant junior anchor components.
Location #4: Charleston, SC
Traveling Route First Stop: Orlando, FL
Second Stop: Jacksonville, FL
Third Stop: Atlanta, GA
Fourth Stop: Charleston, SC
The Head Over Wheels product assortment is one of the most important aspects of our business because it speaks to who we are as a retailer. Our main goal will be to provide the latest styles and trends to our customers at affordable price points without sacrificing quality. It will be my job and pleasure to seek out and find the perfect items to place in our truck. Our product categories will range from: crop tops, tops, graphic tees, jeans, leggings, pants, shorts, skirts, dresses, rompers, accessories, shoes and more.
Product Assortment
Crop Tops
Time to tone up those abs! Still a hot trend for next season, crop tops took over the runways at New York Fashion Week at shows including Lela Rose, Tracy Reese, 3.1 Phillip Lim and Zimmermann. Head Over Wheels will carry crop tops that have an edgy yet bohemian flair.
Graphic Tees
Graphic Tees are the perfect way to say what’s on your mind without even speaking a single word. Millennials love mixing their graphic tees with cut off jeans and leather jackets. Head Over Wheels will carry a variety of graphic tees to suit all of our trendy customer’s wants and needs
Ripped Jeans
Ripped and distressed jeans are every bohemians go -to item. Head Over Wheels will carry a variety of washes and sizes that are suitable to the current trends and our customers wants. After all, every Fashionista needs the perfect pair of jeans.
High-Waisted/Jean Shorts
High-waisted and cutoff shorts are the staple item in any Millennial’s wardrobe. Shorts will be a very important product for Head Over Wheels to stock for the simple fact that we will be setting up shop in very “hot” places. We will carry a number of different washes and colors in order to suppress our lady’s vibe.
Dresses
From tunic dresses to maxi dresses, Head Over Wheels will carry a variety of each that can easily be paired with leggings or a leather jacket. The name of our game is a casual easy going vibe. We believe the every gal should have her fair share of dresses hanging in her closet.
Skirts
Our skirts will range from short to thigh-high to the classic pencil skirt. The best thing about our assortment is that everything can be easily paired together. When our gal finds her favorite “tee” in our truck, she’ll only be steps away from finding the perfect skirt to match it with.
Accessories
No Fashionista’s outfit would be complete without the perfect accessories. Head Over Wheels will carry a range of accessories from: sunglasses, rings, necklaces, earrings, ear cuffs, bracelets, handbags and more.
Shoes
Shoes, shoes and more shoes please?! From booties to wedges to sandals, Head Over Wheels will carry the latest styles in a range of sizes. A shopping trip is never complete until shoes are involved. Our “gal” will be hunting our truck down week after week to catch our fun and flirty styles.
“The Head Over Wheels gal is edgy, eccentric and has a whole lot of attitude �
Nothing comes free in life and that’s why a budget is another key part to my business plan. In this section you will find what it will take to start the Head Over Wheels business. Taking into consideration every aspect to ensure that Head Over Wheels starts out on the right foot is pertinent. In order for Head Over Wheels to successfully begin, we’ll be asking the bank for a small-business loan in the amount of $50,000.
Budget Proposal
HEAD OVER WHEELS BUDGET PROPOSAL
STARTUP EXPENSES: Truck: Truck Repairs: Wrap Truck: Build Out Of Interior Of Truck: Merchandise: Permits: Trademark: Website (e-commerce):
TOTAL: MONTHLY EXPENSES: Business Insurance: Auto Insurance: Gas: Misc. Supplies: POS System (Square): Merchandise Replenishment: TOTAL:
$10,000 $3,000 $5,000 $3,000 $7,000 $1,000 $1,000 $250 $30,250 $100 $1200/yr $100 $1200/yr $500 $250 $50 $600/yr $2,000 $3,000
Head Over Wheels is entering into a new mobile retail market. The trend of fashion trucks is spreading rapidly throughout the country. This is the perfect time to get into this market because we have seen from our competition that the idea of mobile fashion is feasible and profitable. It will be pertinent that our merchandise reflects the taste of our customers and that are marketing plan is in line with the Millennial consumer. Head Over Wheels will use social media to it’s advantage and we will utilize our accounts as a platform to connect and communicate with our shopper. Our four primary locations will be the starting point for Head Over Wheels. We will ensure to setup shops at special events, festivals and anywhere where music, shopping and culture collide. With my merchandising and trend skills, I will outfit the Head Over Wheels truck with the latest styles at affordable pricing. Building customer relationships and providing a unique shopping experience is our main goal.
Conclusion
Sources
• http://www.westcoastmra.com/ • http://www.thefashionmobile.com/starting-the-fashion-mobile-in-3-months • http://www.lefashiontruck.com/ • http://www.today.com/id/47674597/ns/today-today_style/t/moving-trend-fashion-trucks-hit-streets/ • http://www.icsc.org/uploads/event_documents/2013_ICSC_Report_Interactive.pdf • https://www.reisreports.com/real-estate-market-report/retail/georgia/atlanta/ • http://www.colliers.com/en-us/charleston/insights • http://thenomadtruck.com/ • http://shopstreetboutique.com/streetboutique/start-your-own-mobile-store/