dallas fleck Brittany maldonado Alysha murillo michelle nance
Mission â—? Our aspiration is to provide a range and variety of grunge-inspired clothing that is unique, accessible and ready to wear
Vision â—? We deliver an edgy, dark style to fashion driven individuals
Concept Statement Yoru is a Chicago based boutique that offers dark-inspired apparel. The company is brand differentiated, and caters the best quality merchandise that embraces individualism.
Customer HARPER, 24 ● ● ● ●
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Wicker Park Waitress, Fashion Blogger Denim, Leather, Sweaters Enjoys going to the wicker park bars on the weekends Fond of: ○ Yoru’s Exceptional customer service ○ Unique Apparel
Competition
Branding ● Unique ● dark ● Distressed ● hidden in moon
Merch Assortment
merch assortment front of store: ● mannequins displayed with new apparel ● oversized jackets/parkas ● sweater dresses
sides of store: ● hats/scarves ● leather moto jackets ● destroyed denim bar ● $50-100 dresses
back from store: ● wool coats ● $200 dresses
Location Fact Sheet Cross Streets: E 53rd & S HArper Ave Area
Dimensions of Entire Space: 1,800 square footage
Square Footage of Bathrooms: 384 sq. footage for men’s 384 sq. footage for women’s 850 sq. footage for store room
Shape of Store: square
Location of Entrance/Exit: North wall of store
Location of Windows: By Both side of doors, store front
Location Fact Sheet Monthly Rent: $2,500 per month
Terms of Lease: 12 months (1 year)
Security Deposit: $1,000
Realtor Fees: $800
Expenses Incurred By Lease: $175 per month
Allowable Renovations: $150, 000
Store Decor ● Dark/Grunge ● Vintage ● industrialized
Floor Plan
Plan-ogram
E-Business ●
Website… window shopping feature ● Facebook… sales information ● Twitter… latest trends ● Instagram… cool new finds ● Pinterest… lifestyle boards
Marketing Mix: Distribution ● Brick-and-Mortar Store ● Located in the 60615 zip code area of Chicago ● Hyde Park
Marketing Mix: Pricing ● ● ● ●
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Dresses: $50 - $200 Denim: $100 - $200 Pants: $100 - $200 Tops: ○ Blouses: $35 - $110 ○ Sweaters: $60 - $220 ○ Tunics: $40 - $100 Outerwear: ○ Jackets: $75 - $150 ○ Leather: $200 - 700 ○ Coats: $150 - $500 Accessories: ○ Hats: $40 - $80 ○ Scarves: $40 - $80
Marketing Mix: Promotions & Events ●
The promotional strategy of Yoru will be based on a developing a one-on-one relationship with the each customers and then providing them with store information tailored specifically for them. ○ Sending out emails to customers who have provided the store with their contact information - informing them of any new promotions within the store. ○ Sending out monthly style emails to customers giving them ideas on how they can style Yoru’s product to stay on trend. ○ Using a luxury brand approach to promotional strategies that includes maintaining one-on-one relationships with customers by calling them individually to let them know about new product that might be appealing to them. ○ Signage throughout the store will be limited to a minimum, so as not to disrupt the ambiance and overall feel of the store which will be one of the key selling points for this retailer. Instead of using signage, it will be the job of the sales associate to inform customers about store information - which will help form a one-on-one shopping experience for every customer.
Marketing Mix: Advertising Advertising Message: Yoru empowers the young woman by creating an image of bold strength and creates real individuality among the masses.
Marketing Mix: Publicity ● ● ● ●
Use instagram to grow a following of users that are receiving our images on a daily basis. Land a spot on the Windy City Live show to showcase current season’s looks at Yoru. Have an online fashion blogger write a blog on Yoru. Create a grand opening event ○ Theme: In The Darkness of Night - Fashion Happens ○ Local Chicago Band Glass Lux plays ○ Invite Only Party ○ Starts at midnight ○ Black cocktails ○ Media and step-and-repeat in front of the store ○ Enlist at least one major celebrity to attend
Marketing Mix: Advertising Budget & Calendar Total Budget: $100,000 with 50% of the budget being spent between the months of September and December
March
May
September January
December
Organizational Culture Creativity, Diversity, and Empowerment! ●
We focus on many things, but we celebrate creativity, diversity, and empowerment.
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We let creativity flow; letting new, innovative ideas take us to new places.
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The diversity among us makes us who we are, and we celebrate the community we share.
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To keep our community growing, we challenge each other and ourselves to push further!
Management Culture ●
Motivation is our inspiration! Here we thrive off the energy of being able to motivate each other.
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We know that the only way we can reach our goals, is to make sure everyone is working towards the same goals. We empower each other to reach higher, and work harder. We also help each other when we can provide help.
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As managers, we have to build teams that will work well together in a comfortable environment. We teach our employees to grow with the company.
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We know how keep up with the market so our customers, as well as our employees, get the latest styles, always!
Management Style ●
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Employee Motivation ○ Point system driven by educating yourself about the store and industry which leads to raises and bonuses. ○ Thank You Cards for employees from customers available in the store. ○ Weekly Team meetings in which employees give feedback and ideas on the store and their experiences working there. Goal Setting Sheet ○ Employees write out their quarterly goals with management and then works on accomplishing them for the following quarter. Selling Programs ○ The person with the highest selling numbers of the week earns a bonus - amount of bonus is based on the overall financial gain of the store that week. Employee and Incentives ○ 30% off of merchandise ○ 1 free outfit every season ○ Special Holiday discount one day out of the Holiday quarter
Ethics ● ● ● ● ● ● ●
Honesty is at the center of all policies and business decisions. All employees of Yoru will refrain from damaging the reputation of competitors. Yoru will adhere to all local, state, and federal laws pertaining to business practice. Yoru will refrain from the practice of false advertising. Yoru will not breach any contracts with suppliers. Yoru will be an equal opportunity employer. Yoru will have transparency with business practices.
Hourly Rates & Bonuses $10.00/hr for part-time employees $12.00/hr for full time employees $45,000/yr for management *Christmas Bonuses *Bonuses upon meeting annual sales goals *Raise at employee’s first 90 days *Raise after completing training modules
Discounts â—?
Employees will receive 40% off of all fullprice merchandise excluding accessories which get 20% and on one item a month employees receive 60% off of an item of their choice (item must be worn at work).
Training ● ●
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Yoru identifies training and education as the fundamental aspects of success. Training will take place before an employee works on the sales floor and will require the employee to be checked off on a series of procedures and policies. Yoru will use seasoned, retail consultants to help construct and run the training of employees. training centered on giving employees knowledge ○ product ○ customer ○ business Train employees to be business professionals
Employee Handbook ●
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You make work for another company in addition to Yoru if it does not present a conflict of interest. Working for a competitor may be a conflict of interest depending on your position. A conflict may arise if the hours/schedule of your other job interfere with your work at Yoru. You may not accept gifts, including cash tips, merchandise and services, from any customer or person doing business with Yoru. Employee relationships - a conflict of interest may exist whenever an employee’s judgement and/or decision making is affected or can be called into question because of a close relationship. Therefore if a personal relationship exists between two employees in which one employee supervises another, then it must be reported to management who will make the ultimate decision on whether or both employees may continue to work for Yoru. Yoru seeks to have a work culture that encourages respect, development and growth. To maintain this culture, all employees must demonstrate the utmost respect with all other employees and customers.
Employee Handbook ●
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When misconduct occurs the following may take place: ○ verbal warning ○ written warning ○ final written warning ○ suspension pending investigation ○ discharge Dresscode: ○ Clean, neat and fashionable ○ Can’t wear clothing that displays other company’s logos or does not flow with the style of Yoru ○ Flip flops are not allowed ○ personal cell phones, iPods, mp3 players, or any other personal devices are not allowed on the sales floor ○ Gum chewing, drinking or eating is not permitted on the sales floor All employees are expected to maintain satisfactory attendance and report to work on time every day. An employee that is absent for 3 consecutive shifts without notification is grounds for automatic termination. Do not speak on behalf of Yoru on social media platforms.
Schedule sheet Sunday
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Employee A
10:00-14:00
14:00-18:00
10:00-14:00
14:00-18:00
10:00-14:00
14:00-20:00
14:00-20:00
Employee B
10:00-14:00
14:00-18:00
10:00-14:00
14:00-18:00
10:00-14:00
10:00-14:00
10:00-14:00
Employee C
X
10:00-14:00
X
10:00-14:00
X
14:00-20:00
14:00-20:00
Employee D
X
10:00-14:00
X
10:00-14:00
X
10:00-14:00
10:00-14:00
Employee E
14:00-18:00
x
14:00-18:00
x
14:00-18:00
14:00-20:00
14:00-20:00
Employee F
14:00-18:00
x
14:00-18:00
x
14:00-18:00
10:00-14:00
10:00-14:00
Employee G
14:00-18:00
14:00-18:00
14:00-18:00
14:00-18:00
14:00-18:00
x
x
Classification Plan 1 Year 1 2015 2 Season A Fall/WInter 3 Class 1 Dresses 2 Tops 3 Bottoms 4 Outerwear 5 Accessories 4 Sub Class 1 Dresses 1 Long 2 Short 2 Tops 1 Blouses 2 Sweaters 3 Tunics
3 Bottoms 1 Jeans 2 Pants 4 Outerwear 1 Jackets 2 Leather 3 Coats 5 Accessories 1 Hats 2 Scarves 3 Gloves 5 Color 91 92 93 94 95 96
Black White Black and White Grey Multi Other
Monthly Sales Plan Month
Yearly Sales:
$180M
Percentage
Amount
January
5%
$9,000,000
February
2.5%
$4,50,000
March
3%
$5,40,000
April
4.5%
$8,100,000
May
10%
$18,000,000
June
8%
$14,400,000
July
7%
$12,600,000
August
17%
$30,600,000
September
8%
$14,400,000
October
4%
$7,200,000
November
21%
$37,800,000
December
10%
$18,000,000
Sales By Classification Classification
Yearly Sales:
$180M
Percentage
Amount
Dresses
15%
$27,000,000
Tops
25%
$45,000,000
Bottoms
40%
$72,000,000
Outerwear
15%
$27,000,000
Accessories
5%
$9,000,000
Business hours Monday: 10:00AM-8:00PM Tuesday: 10:00AM-8:00PM Wednesday: 10:00AM-8:00PM Thursday: 10:00AM-8:00PM Friday:10:00AM-8:00PM Saturday:10:00AM-8:00PM Sunday: 10:00AM-6:00PM
Loss prevention Our store is very confidential with lost items. We have a program in which we take care of lost items that are our customers have left accidently at our store or lost within our store.. We manage this in the most professional way possible and secure that our customers can trust us to ensure that. We also make sure that our staff is honest and hold on to the lost items until it is returned safely to the customer. We as a company believe that every customer deserves to have their things returned immediately if such a case were to happen at our store.
Security Yoru has security inside our store to assure safeness to our customers and employees. As we provide excellent service to our customers, we also want to make sure that our store is protected, at no harm, and completely safe from any type of theft, or crime. We have four security available at all times throughout the store and have two securities in the front. We also have a protection system that guards our store electronically when the store closes until it opens. We feel this is important to our team, our store, and our loyal customers who spend their time at our location.
merchandise holds ● 24 hours ○ no limit ○ special clients
● high turnover rate
returns ● 30 days ○ tags attached ○ original receipt ○ sale = final sale
● converting returns to exchanges
clienteling ● vital to success at yoru ● client books ○ lifestyle information
● scheduling appointments ○ new items, promotions, events
customer service
#1 priority