Company Description This Land is will be an S Corporation. This choice will allow the small amount of investors to avoid double taxation on profits, and will limit potential losses. As a for-profit company, This Land will begin with two stockholders and will seek out other interested individuals for further investment. Ideally, these individuals would be willing to invest capital and trust the decisions of the original stockholders, and be excluded from the operations of the company. The products sold at This Land will be high-quality and wellcrafted menswear—primarily workwear inspired garments—and accessories with a focus on products produced in the United States of America. To clarify, menswear includes shirts, pants and outerwear and accessories, such as ties, eyewear, belts, hats, bags, scarves and footwear. Above excellent customer service will be paramount at This Land as this will justify higher pricing and mark-up on products. Services will include assistance considering personal style and fit of garments along with educating customers on the history and care taken to produce products in the store. The markets for This Land’s products and services will be both online and in-store. With a growing curiosity for domestically produced and long-lasting clothing and accessories This Land will serve a world-wide market online, and a city-wide to regional market in-store. Located in Chicago, Illinois, customers will have the option to purchase products at the store’s physical location or at the online store. The advantagesof high-quality clothing basedon timelessdesignsallows This Land to sell a long-term investment to customers. For example, instead of buying a pair of footwear every year, a customer may be encouraged to
purchase footwear that will last several years and develop characteristics unique the individual only. This philosophy disregards trends and current styles and embraces the notion that clothing should be classically durable enough to justify higher pricing asthe cost-per-wear makesthe product more valuableover time. Analysis of the BusinessEnvironment This Land is based on product designs that have stood the test of time both aesthetically and practically. This fact helps to alleviate immediate and fleeting consumer trends by providing products that stand outside of the ebbs and flows of the fashion industry as a whole. Another unique and great quality This Land has, is the ability to clothe individuals in a wide range considering age. As a menswear only store the demographic will be exclusive to men, but this fact applied to the young and old alike. In times of economic hardship we look to cater to those interested in making sound purchases that will allow the consumer to purchase products that will provide the best quality for the money. In times of a flourishing economy, the high quality and higher pricing of our products will still retain their value and appeal, except they will be purchased in greater quantities and more regularity. Currently, the fashion industry generates over $1,700,000,000 annually. The percentage of individuals obtaining information and purchasing products online concerning fashion will continue to grow. Great attention and thought must be paid to the methods in which consumers are being reached and how they respond. Large firms dominate the industry--Barney’s, Macy’s, Neiman Marcus, Sak’s Fifth Avenue, etcetera—but smaller firms, especially niche and well-planned firms have proven to be successful when executed properly and efficiently, although
eighty percent of small clothing stores fail within the first five years. Typical profitability in the well-established fashion industry can vary, but on average businessesmark their products up three-hundred percent over cost. Positive trends in the fashion industry include the proliferation of blogs and the ability to reach a larger base of consumers through the internet. These blogs often highlight certain products and suggest where they can be purchased. In other words, if a business can manage to be included in a widely read blog, it operates on two fronts; advertising and a conduit for sales. The internet makes the marketplace smaller and opens the door to consumers who may never have an opportunity to step foot in a businesses physical location. A negative trend is, well, the proliferation of blogs. With a growing ocean of information it can be difficult for consumers to navigate directly to a certain business’ site. This can be remedied however, by strategically aligning with a site or blog that caters to target customers. Physically, the business with be located in Chicago with a population around two and a half million. The business will also be located online, where hundreds of millions will have the opportunity to view the site--and this number will continue to grow at the internet becomesmore readily available.