This Land by Lauren McGrady

This Land… A Men’s Store By:

Lauren McGrady

…This Land…

Personal Mission Statement Upon graduating from Columbia College, I plan to find a job in fashion industry that allows me to use the knowledge I have gleaned from all of my studies. I plan to work the floor of a corporate retailer long enough to learn the ropes so I can make a move to corporate buying. I would also love to keep myself involved in the restaurant industry, either through consulting or serving. My overall goal is make $60kin 3-4 years and save enough money to open my own businesses. In 10 years I would like to have my own men’s and women’s clothing boutique, as well as, a restaurant and bar. All of the business will carry domestic and local products.

Business Mission Statement Committed to scouring This Land for quality, American men’s workwear inspired garments and accessories, both past and present. This Land will offer hand selected luxury menswear items in a comfortable environment for today’s workingman.

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 well-crafted menswear—primarily workwear inspired garments—and accessories with a focus on products …This Land…

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 advantages of high-quality clothing based on timeless designs allows 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 as the cost-per-wear makes the product more valuable over time.

Analysis of the Business Environment 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 …This Land…

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 businesses mark 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

…This Land…

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 becomes more readily available.

Products and Services This Land will offer very high-quality menswear and as this plan previously stated this term includes shirts, pants and outerwear. This selection will be seasonally driven with heavy fabrics—such as oxford—and darker colors for winter and fall. Brighter colors and lighter fabrics--such as linen--will be carried in the spring and summer. Selvage denim will be a huge focus for This Land as it represents the pinnacle of quality and craftsmanship, while remaining timeless. We plan on carrying several domestic producers, particularly Levi’s Vintage Clothing, which reproduces--to exact specifications--certain styles made famous over the last century. Non-denim pants will include various types and colors of khakis along with seasonal favorites such as wool and seersucker. The selection of outerwear will also be seasonally driven and range from lightweight cotton to heavy wool. Accessories, such as ties, eyewear, belts, hats, bags, scarves and footwear will be carefully selected to accent the various outfit combinations available at the store. These items will be essential to the business as they will often carry a lower price and will complete the overall product vision of the business. …This Land…

Customer service will be essential to the success of This Land. Customers must feel comfortable with the assistance and trust the expert suggestions of the staff. With a product vision based in history and quality, the key to justifying higher priced products is relaying why a purchase is worth more, by explaining the fine details of craft and thoughtful design. This Land should be a source of education, which will encourage repeat business and create a deeper relationship between the business and its customers who, ideally, will view their purchases as a much broader experience than clothes.

Pricing Strategies Premium Pricing Use a high price where there is uniqueness about the product or service. This approach is used where a substantial competitive advantage exists. Such high prices are derived from the integrity of the garment and its classic design aesthetic that allow it to transcend time and trends.

Reasoning Garments will be sold at the suggested retail price of the manufacturer/designer. We anticipate these prices to be of a premium pricing standard based on the quality and limited availability of the merchandise. Customers will justify paying premium prices because they are receiving quality merchandise in high demand with very little availability. We will contract with American designers such as Pendelton, C.C. Filson, Yuketan Footwear, and Alden Footwear to create one of a kind garments and accessories solely available at This

…This Land…

Land.

Competitive Advantage This Land will offer expert customer service. The employees must have a passion for quality clothing and a vast understanding of construction, fabric, fit and function. This information will be crucial in sales situations, as it will build trust in an unsure customer and reaffirm trust for informed customers. The higher price of clothing will be explained; why the quality is better and why it is an investment. The education of customers will be integral to the success of This Land and will encourage customers make informed decisions. The ability to make customers comfortable and welcomed by the employees will be of utmost importance as will the ability to recognize the tastes and desires of customers. The clothes sold at This Land will represent the highest level of craftsmanship and durability with a heavy focus on American manufacturing—an increasingly sought after aspect of menswear. The growing demand for domestically produced clothing has been on a steady rise for the last seven years and shows no signs of slowing. The greatest attribute of work wear inspired clothing is longevity in the face of trends and This Land should be able to retain its core products without having to re-segment the markets based on the consumers’ needs every new season—a very common problem in small clothing retailers.

SWOT ANALYSIS This Land 2426 W. Haddon Chicago, IL 60622

…This Land…

Target Market This Land’s target market will be Chicago-based males aged 25 to 55 with an income of $50,000 per year and Strengths: • Diverse range of quality products • Friendly/knowledgeable, male sales staff • User-friendly online store • Located in bustling city of Chicago • Space is utilized to the fullest without looking cluttered • JIT inventory strategy cuts carrying costs • Gift Cert. available • Competitive prices • Merchandise changes seasonally • Online wishlist program • Local beer handles on tap in store • Comfortable, cool shopping environment for men • Classic selection Weaknesses • Rotating merchandise • Maintaining commanding position in the competitive fashion market • Small Advertising/PR Budget • Start up costs are expensive • Necessary interior décor is hard to find • Time spent scouting interior solutions • Little start-up capital

Opportunities: • Strategic Alliance: Local kegs on tap in store. Link up with brewery events • Advertising through neighborhood specific publications • Neighborhood is growing at a rapid rate • Male discretionary income spent on clothing is rising • Huge trend in American made goods • Opening more locations in other cities • Online business expands contacts and obtainable market segment

Threats: • Chicago menswear boutiques and corporate retailers • Rent prices are rapidly increasing due to popularity of area • Rising property taxes for home owners cuts down on discretionary income • Consumers are becoming extremely price conscience • Mass produced garments produced in sweatshop environments offered at lower costs …This Land… • Current economic climate

above. With higher-priced clothing, it will be necessary to target individuals with superfluous income who take pride in their appearance and value well-made clothing. The benefits of patronizing This Land will be the obtainment of high-quality clothing and a greater appreciation for durability, functionality and aesthetics. This appreciation will open a world of products designed to last the tests of time and the rigors of man. Considering psychographics, this plan has made clear the targeted individuals will value the education provided by This Land and will be introduced to a new approach of clothing. With This Land being the sole leader in work wear inspired clothing in Chicago, patrons will have no choice but to return and continue to refine and bolster their personal aesthetic.

Location This Land will be located in the Fulton Market district in Chicago, and is properly zoned for commercial use. The meat industries and several high-end restaurants utilize the space in the neighborhood. We foresee this space becoming more residential in the near future. Restaurants such as Publican and Girl and the Goat have attracted national attention for quality and service. As a result, both are brimming with customers during lunch and dinner hours. The capacity of the restaurants is into the hundreds per day and This Land will, by default, be exposed to these individuals. The proximity of This Land to businesses that operate with the same principles will create a synergistic relationship that will be to the benefit of both. The operating hours of This Land and the surrounding restaurants will be nearly identical in order to capitalize on foot traffic and curiosity. With no other retail locations in the Fulton market district, This Land will stand out and be highly visible amongst a street with few storefronts. Fortunately, street parking is free, with no meters and …This Land…

over there are hundreds of spaces available—This Land needing a maximum of only 15 spots. The trading area for the business will be the city of Chicago with a population exceeding 2,500,000. With the population being extremely vast and varied, This Land will not appeal to all, nor will it try to. As a destination business, it will appeal to individuals who seek out quality in many facets of their lives.

Location Fact Sheet City:

Chicago, Illinois

Neighborhood: Cross Streets: Street Dimensions: • • • •

Fulton Market (Meat-packing District) W. Fulton Market Street & N. Peoria 1000 Square Feet

Storefront: Bathroom: Storage: Office:

Store Shape:

600 Square Feet 50 Square Feet 250 Square Feet 100 Square Feet

L-Shaped with two entrances and exits

Front:

Customer/General Use

Back:

Employee/ Office Use/Deliveries

Location of Windows: Monthly Rent: Lease Terms:

2 Large, east facing, front windows $1166/ $14 per sq. ft. 2 Year net lease with first and last Month’s rent plus security deposit …This Land…

Promotional Plan The menswear market—one may argue the entire fashion market—is driven by blogs and forums, where interested parties separate and coalesce into groups according to similar interests. Obtaining access to these groups is easy; you participate. There are those who dismiss forums and “group think” as a negative influence citing overly critical opinions and obsessive behavior. I see no reason why a business—that actually cares about the details of their products as much customers—shouldn’t inculcate itself into the current inner workings and culture they wish to profit from. In fact, it is the obsessed and overly critical that make products popular when deemed so. There are many extremely influential blogs—all mentioned in this plan—that can generate an enormous amount of interest—not to mention internet traffic—in a particular business if it appeals to the readership. If a business such as This Land is executed properly, there is no reason to believe blogs wouldn’t pay attention and we expect to generate a serious presence in a short period of time.

Financials START UP BUDGET Rent/yr Inventory Build-out Cost Salary for Employees

$14,000 $100,000 $10,000 $65,000__

TOTAL COST

$189,000

PROJECTED YEARLY SALES & EXPENSES

…This Land…

Sales COGS

$1,200,000 $500,000

TOTAL REVENUE

$700,000

Advertising Expense Marketing Expense Salary Expense Rent Expense Utilities Expense Insurance Expense TOTAL EXPENSES

$2000 $2000 $65,000 $14,000 $6000 $1800 $90,800

TOTAL REVENUE AFTER EXPENSES

$609,200

PROFITABILITY SALES Sales growth for the first 3 years is expected to hit around 12% for the first year and approach 20% by the 3rd year. Retail can maintain a growth rate of 23% per year. Sales growth will probably generated cash funds.

sustainable

from

internally

GROSS PROFIT MARGIN The Gross Profit Margin Average % of Sales for the first 3 years is projected to be 45%, changing by 8% per year. OPERATING EXPENSES The Operating Expenses Average % of Sales for the first 3 years is projected to be around 40%, changing by 8.5% per year. Operating Expenses % of Sales in the 3rd year is expected to be around 36%. The Industry Benchmark is 35.3%. Operating Expenses are greater than Industry Benchmark. CASH FLOW First year Cash Flow from operations is projected to be around $60,000. By year 3 Cash Flow From Operations should be $195,000 changing by 80.7% per year.

…This Land…

Cash Flow from Operations should always be positive and improving, and it should always be able to cover the flow of debt. BREAKEVEN By year 3 the Breakeven % of Sales should be around 88% changing by 0.3% per year. OPERATING CAPITAL Operating Capital is 18% of Sales, changing by 11.7% per year. By year 3 Operating Capital should be around $415,000. Operating Capital for the Industry Benchmark is $462,898.

Cost of Living Budget

Results: Total Income Necessary Expenses Discretionary Income Investment Spending Discretionary Income less Investments Discretionary Spending Amount remaining to save or invest

Monthly $6,389.91 $2,174.33 $4,215.58 $0.00

Yearly $76,678.96 $26,092.00 $50,586.96 $0.00

$4,215.58

$50,586.96

66%

$1,085.00

$12,660.00

17%

$3,130.58

$37,926.96

49%

Monthly Budget

Income: Your Primary Income Your Spouse's Income Child Support or Alimony Social Security Income Disability Income Pension Income Investment Income Real Estate Investment Income

$3,333.33 $2,500.00 $0.00 $556.58 $0.00 $0.00 $0.00 $0.00

…This Land…

Annual Amount $40,000.00 $30,000.00 $0.00 $6,678.96 $0.00 $0.00 $0.00 $0.00

Comments 100% 34% 66% 0%

Comments

Business Income Other Income Total Income Necessary Expenses: Payroll Taxes Other income deductions Rent or Mortgage 2nd Mortgage or Home Equity Loan Property Taxes Water Garbage Gas & Electric Auto Insurance Auto repairs Food & Groceries (not dining out) Clothing (necessary) Telephone (not mobile phone) Home or Renters Insurance Healthcare or Insurance Costs Dental Care or Insurance Costs Life Insurance Costs Student Loans Home Repairs Home supplies Dry cleaning Laundry Investment Real Estate Expenses Business Income Expenses Childcare (daycare & babysitters) Child & Baby Expenses Other dependent expenses Total Necessary Expenses

Discretionary Expenses: Credit Card Bills Auto Loan (s) Gasoline

$0.00 $0.00 $6,389.91

$0.00 $0.00 $76,678.96

$402.33 $0.00

$4,828.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $125.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $1,500.00 $0.00 $0.00

$400.00 $20.00 $0.00 $32.00 $250.00 $30.00 $0.00 $750.00 $100.00 $30.00 $20.00 $15.00

$4,800.00 $240.00 $0.00 $384.00 $3,000.00 $360.00 $0.00 $9,000.00 $1,200.00 $360.00 $240.00 $180.00

$0.00 $0.00

$0.00 $0.00 $2,174.33

$0.00 $0.00 $0.00 $26,092.00

$0.00 $0.00 $0.00

…This Land…

Cable or Satellite TV Mobile Phone (s) Home Improvement Home Security Garden Supplies Entertainment (not dining out) Dining Out Travel & Vacation Pets, Pet Care and Pet Food Clothing (above what's needed) Internet Access Computer Costs Gym membership Beer & Alcohol Cigarettes & Tobacco Total Discretionary Expenses

Investment Spending: 401K, 403B deposits IRA deposits Employee Stock Plans Brokerage Deposits Other Total Investment Spending

$100.00 $150.00 $20.00 $0.00 $20.00 $100.00 $120.00 $125.00 $0.00 $200.00 $20.00 $30.00 $50.00 $150.00 $0.00 $1,085.00

$1,200.00 $1,800.00 $240.00 $0.00 $240.00 $1,200.00 $1,440.00 $1,500.00 $0.00 $2,400.00 $240.00 $600.00 $1,800.00 $0.00 $12,660.00

$0.00 $0.00

$0.00

$0.00 $0.00 $0.00 $0.00

Monthly $17,756.58 $13,459.00 $4,297.58 $0.00

Yearly $213,078.96 $161,508.00 $51,570.96 $0.00

% 100% 76% 24% 0%

$4,297.58

$51,570.96

24%

$1,395.00

$16,380.00

$2,902.58

$35,190.96

17%

Cost of Living Budget FOUR YEARS FROM NOW

Results: Total Income Necessary Expenses Discretionary Income Investment Spending Discretionary Income less Investments Discretionary Spending Amount remaining to save or invest

…This Land…

Comments

Income: Your Primary Income Your Spouse's Income Child Support or Alimony Social Security Income Disability Income Pension Income Investment Income Real Estate Investment Income Business Income Other Income Total Income Necessary Expenses: Payroll Taxes Other income deductions Rent or Mortgage 2nd Mortgage or Home Equity Loan Property Taxes Water Garbage Gas & Electric Auto Insurance Auto repairs Food & Groceries (not dining out) Clothing (necessary) Telephone (not mobile phone) Home or Renters Insurance Healthcare or Insurance Costs Dental Care or Insurance Costs Life Insurance Costs Student Loans Home Repairs Home supplies Dry cleaning Laundry Investment Real Estate

Monthly

Annual

Budget

Amount

$4,166.67 $5,833.33 $0.00 $556.58 $0.00 $0.00 $2,000.00 $1,200.00 $4,000.00 $0.00 $17,756.58

$50,000.00 $70,000.00 $0.00 $6,678.96 $0.00 $0.00 $24,000.00 $14,400.00 $48,000.00 $0.00 $213,078.96

$652.33 $2,000.00

$7,828.00 $0.00 $24,000.00

$2,000.00 $4,583.33 $30.00 $20.00 $125.00 $130.00 $10.00

$24,000.00 $55,000.00 $360.00 $240.00 $1,500.00 $1,560.00 $120.00

$600.00 $20.00 $10.00 $83.33 $250.00 $30.00 $0.00 $750.00 $100.00 $30.00 $20.00 $15.00 $2,000.00

$7,200.00 $240.00 $120.00 $1,000.00 $3,000.00 $360.00 $0.00 $9,000.00 $1,200.00 $360.00 $240.00 $180.00 $24,000.00

…This Land…

Comments

Expenses Business Income Expenses Childcare (daycare & babysitters) Child & Baby Expenses Other dependent expenses Total Necessary Expenses

$0.00

$0.00 $0.00

$0.00 $0.00 $0.00 $161,508.00

$13,459.00

Discretionary Expenses: Credit Card Bills Auto Loan (s) Gasoline Cable or Satellite TV Mobile Phone (s) Home Improvement Home Security Garden Supplies Entertainment (not dining out) Dining Out Travel & Vacation Pets, Pet Care and Pet Food Clothing (above what's needed) Internet Access Computer Costs Gym membership Beer & Alcohol Cigarettes & Tobacco Total Discretionary Expenses

Investment Spending: 401K, 403B deposits IRA deposits Employee Stock Plans Brokerage Deposits Other Total Investment Spending

$0.00

$0.00 $250.00 $60.00 $100.00 $150.00 $20.00 $0.00 $20.00 $100.00 $120.00 $125.00 $0.00 $200.00 $20.00 $30.00 $50.00 $150.00 $0.00 $1,395.00

$0.00 $3,000.00 $720.00 $1,200.00 $1,800.00 $240.00 $0.00 $240.00 $1,200.00 $1,440.00 $1,500.00 $0.00 $2,400.00 $240.00 $600.00 $1,800.00 $0.00 $16,380.00

$0.00 $0.00

$0.00

Management …This Land…

$0.00 $0.00 $0.00 $0.00

Management Style The intimacy of our store will result in a coaching management style. The store manager will be interactive and inclusive with all employees. The manager will consult with the rest of the staff before making any big decisions regarding the store, its operations or policies. The friendly environment of our store is consistent throughout every aspect of our store. The store manager encourages employees’ opinions on all subjects. Employees will be praised for providing their insight and offering suggestions for improvements within the company. Small prizes (coffee, lunch, or merchandise) will be rewarded when necessary feedback and suggestions are implemented within the company. There will be distinguished managers and managerial tasks at the store but collaborative teamwork will strongly be advocated. This Land plans to promote from within. This allows dedicated employees to be rewarded in a manner that reflects their hard work and commitment to the company. This policy will result in all employees achieving the highest level of knowledge regarding the product This Land is selling to will help them meet and exceed sales goals, which will ultimately lead them to advancements within the company. The manager on duty will be required to conduct a meeting with the opening staff every morning. The purpose of these meetings will be mainly to get the staff motivated for the day but also to inform them of new arrivals, current promotions, answer any question, reflect on the previous day and mention any special daily goals and their incentives. This

Land

will

employ

two

owner

…This Land…

managers,

Lauren

McGrady and Tom Gavin. Lauren received her Bachelor of Arts from Columbia College Chicago with a concentration in fashion merchandising. The knowledge she gleaned from her studies, as well as her extensive training in the service industry will complement her management style. In her early twenties she managed a jewelry store, The Silver Lady, located in the bustling shopping district of Central West End in St. Louis, Missouri. Here she learned the intricacies involved in running a small business including buying, pricing, merchandising, and building customer relations. Tom Gavin received his Bachelor of Arts from Columbia College with a concentration in Arts Entrepreneurship and Journalism. Tom has also spent the past six years operating as a beverage director for some of Chicago’s finest boutique wine and spirits shops. Tom is also a member Gemini Club, an emerging act on Chicago’s music scene. He is the lead vocalist for the band and has been acknowledge by several Chicago publications and bloggers for his keen sense of style. We are hoping a strategic alliance can be formed between the two entities. Both Tom and Lauren all well known in the community and have developed a strong following of friends and associates in Chicago. Together they will successfully own and operate all divisions of This Land. Operating within a strict budget will require the owner managers to take on the role of sales staff for the first year. This Land anticipates a higher flow of traffic over the weekends and in order to manage the volume of business we anticipate, we will hire two, part-time employees. Possible candidates are young enthusiastic males with a passion for service and keen sense of the style and aesthetic associated with our brand.

…This Land…

Pay Scale Employees are paid on the 1st and 15th of each month. New employees are required to complete an Employee's Withholding Allowance Certificate (W-4). Employees must present their Social Security card to Employment when completing the required forms. Optional forms employees may wish to file are paycheck direct deposit authorization card, union or association dues card, and other deductible employee paid benefits. Pay rates will vary based on education and experience. Pay will start at $10/hour and max out at $15/hour for regular employees. Employees who remain in the company for several years and have shown commitment to our mission will be offered a salaried position in management. Details will vary based on experience and sales volume of both the individual and the store. Employees will also be offered compensation contingent upon their ability to meet and exceed sales goals. Examples of such compensation may be, but is not limited to, trips to trade shows or meet and greats with design collaborative, as well as gifts in the form of store merchandise or credits and employee discounts on in store purchases. Overtime Non-exempt employees are eligible to receive overtime pay if they work more than 40 hours in a given week. Holiday, vacation, and sick time are not included in hours used to determine overtime eligibility. Overtime pay equals 1.5 times and employee’s regular hourly rate. All overtime must be approved the manager in advance

…This Land…

Policy Concerning Sick Days Regular attendance is essential to the Company’s efficient operation and is a necessary condition of employment. When employees are absent, schedules and customer commitments fall behind, and other employees must assume added workloads. Employees are expected to report to work as scheduled and on time. If it is impossible to report for work as scheduled, employees must call their manager before their starting time. If your manager is unavailable, a voice message should be left. If the absence is to continue beyond the first day, the employee must notify their manager on a daily basis unless otherwise arranged. Calling in is the responsibility of every employee who is absent. Absence for three consecutive workdays without notifying the manager is considered voluntary termination/job abandonment and unemployment benefits will be denied.

Vacation All full-time employees are eligible for vacation pay. New full-time employees will receive a pro-rated number of vacation days based on one day for each month worked in the hired calendar year, not to exceed 10 days. In the first full calendar year and through the calendar year in which the employee’s 3-year anniversary of employment occurs, employees will receive 10 vacation days each year. In the calendar year of the employee’s 4-year anniversary of employment, employees will receive 15 vacation days each year. In the calendar year of the employee’s 10-year anniversary of employment, employees will receive 20 vacation days each year. …This Land…

Up to 5 unused vacation days may be carried over into the next year. All other unused vacation time will be paid out in the final paycheck for that year. Employees should notify their manager at least one month in advance of taking vacation time. All vacation requests are subject to manager approval. In addition, employees should directly communicate vacation dates to co-workers to ensure customer needs are met. Part-time employees who work on a regular schedule all year are eligible for vacation benefits on a pro-rated basis based on the schedule above.

Holidays The company will observe the following holidays: • • • •

New Year’s Day Independence Day (4th of July) Thanksgiving Day Christmas

The store will be closed for the entire day on holidays listed above. This Land may acknowledge other holidays by adjusting store ours.

Personal Days Employees are eligible for 4 paid personal days per calendar year. New employees will accrue 1 personal day for every 3 months worked in the hired calendar year. Personal days may be used at the employee’s discretion for religious holidays and personal matters. Personal …This Land…

days not used by the end of the year will be paid out to the employee in the final paycheck for that year.

Sick Days Sick days are provided for illness of the employee, their spouse or children. Employees should use their personal days or vacation days for non-illness related time off. All full-time employees will receive sick days according to the following schedule: Employees will be eligible for paid sick days after 1 year of employment. After 1 year of employment, employees will be eligible for one sick day for every two months worked from date of hire, with a maximum of 5 days in their first year of employment. Every succeeding calendar eligible for 5 sick days.

year,

employees

will

Sick days may not be accumulated and carried over from year to year . All unused sick days by the end of the year is forfeited.

Funeral Leave Employees will be paid the minimum wage governed by the state of Illinois for up to five days to attend the funeral of a close relative, such as a spouse, children, parents, grandparents, siblings and corresponding in-laws. If additional time off is required, employees should talk to their manager. Time off without pay may be provided so that employees can attend the funeral of individuals other than those listed. Employees may take unused vacation or personal time, but sick days cannot be used.

Jury Duty Employees

will

paid

their

full

…This Land…

salary

during

absence mandated by jury duty. If an employee receives any compensation for this duty, they should present it to their manager as a temporary payroll adjustment, unless prohibited by law. Employees must present a copy of the Jury Summons to their manager.

Equal Employment Policy It is the policy of the Company to provide equal opportunity for all qualified persons and not discriminate against any employee or applicant for employment because of race, color, religion, sex, age, national origin, veteran status, disability, or any other protected status. This policy applies to recruitment and placement, promotion, training, transfer, retention, rate of pay and all other details and conditions of employment. Employment and promotion decisions will be based on merit and the principle of furthering equal opportunity. The requirements we impose in filling a position will be those that validly relate to the job performance required. All other personnel actions including compensation, benefits, transfers, layoffs, recalls from lay-offs, training, education, tuition assistance and recreation programs will be administered without regard to race, color, religion, sex, age, national origin, disability, veteran status, or any other protected status, in accordance with appropriate law.

Termination Employees who voluntarily resign from the This Land are asked to provide at least two week advance notice of their resignation. This notice should be in writing and should briefly state the reason for leaving and the anticipated last day of work. If a terminating employee is eligible for any incentive compensation, bonus, and/or awards, they must be actively employed on the date the compensation, bonus

…This Land…

or awards are presented or paid, in order to receive the compensation, bonus or award.

Drug and Alcohol Policy This Land realizes that the misuse of drugs and alcohol impairs employee health and productivity. Drug and alcohol problems result in unsafe working conditions for all employees and customers. This Land is committed to maintaining a productive, safe, and healthy work environment, free of unauthorized drug and alcohol use. Any employee involved in the unlawful use, sale, manufacturing, dispensing or possession of controlled substances, illicit drugs and alcohol on This Land premises or work sites, or those working under the influence of such substances, will be subject to disciplinary action up to and including dismissal and referral for prosecution. In addition, the company has developed and maintains a comprehensive Drug and Alcohol Policy, which employees may obtain from Human Resources.

Safety Policy This Land is sincerely interested in the safety and well being of our employees. This Land will make every effort to keep the office equipment in excellent condition and make sure that all safety devices are working properly. If, in spite of our efforts to ensure safe conditions, if an employee has an accident or ill on the job, it should be reported to the immediately. They will see that prompt attention is provided.

working becomes manager medical

Workplace Security Policy This Land is committed to maintain a safe and secure …This Land…

workplace. In order to maintain a secure work environment, the company strictly prohibits employees and visitors from bringing any firearm or other weapons on company property.

Dress Code Policy The Land maintains a casual working environment; however, the attire of each employ must reflect the vision of the company. Employees are encouraged to wear jeans, as This Land will be representing a number of high-end selvage denim companies. Please wear coordinating elements with an heir of refinement and sophistication that visually display inspiration and proper use for This Land merchandise. All employees should use discretion in wearing attire that is appropriate for customer interaction. No cut-offs or short shorts!

Smoking Policy This Land encourages employees not to smoke and maintains a non-smoking policy within the office. Employees should smoke either before or after their shift. If smoking before the shift, employees are required to wash hands and anything else necessary to remove the offensive smell.

Telephone and Computer Use Policy The Company understands that when employees work during the week it is occasionally necessary to conduct personal business during office hours. However, employees should limit their personal use of the telephone and computer during office hours. Talk to your manager if you have any questions as to how much is too much time. Employees who abuse this policy are subject to disciplinary procedures up to and including discharge.

Business Expense Reimbursement …This Land…

The company will reimburse employees for expense which are directly business related to include: travel expenses, office supplies, and mileage incurred while traveling on business. Employees must submit receipts for all expenses. Employees should consult with their manager prior to business trips to confirm eligible expenses.

INSURANCE Insurance to cover loss due to theft and/or unforeseen destruction of property and/or merchandise will cost around $1800 per year. This is a cost of about $150 per month. While prevention against theft will be a top priority we understand that it will inevitably occur from time to time. This Land will not be employees. Should an premise, we will take costs associated with insurance. This Land in a position that is safety.

offering worker’s comp for accident occur on This Land every measure to help ensure the injury are covered via will not be putting any employees detrimental to their health or

Suppliers

…This Land…

This Land’s most important suppliers will be broken in these categories:

Shirting: • • • • • •

Gitman Brothers Band Of Outsiders Engineered Garments Haversack Post Overalls Nigel Cabourn

Denim: • • • • •

Levi’s Vintage Clothing A.P.C Momotaro Kicking Mule Left Field

Trousers: • • • •

Monality Band Of Outsiders Nigel Cabourn Post Overalls

Jackets: • • • • • •

Shipley and Halmos Haversack Monality Nigel Cabourn Engineered Garments Woolrich Woolen Mills

Footwear:

• Alden • Yuketen • Band Of Outsiders

…This Land…

• • • •

Red Wing Wolverine Viberg Mark Mcnairy

Accessories: • • • • •

Kenton Sorenson Leather Goods Ray Ban Sunglasses Folk Belts Band of Outsiders Ties Gitman Brothers Ties

Books and Magazine: • • • •

Free and Easy Apartmento Inventory Men’s File

There are hundreds of suppliers, but the above represent the pinnacle of quality. All of the aforementioned suppliers offer 90-day credit terms, with seasonal delivery schedules varying company to company. Many of these companies produce in small quantities, and inventory shortages will be problematic, but the small number of garments produced increases value and will allow for higher margins considering profit.

Critical Risks The national economy continues to be stagnant and growth has been slow, but This Land has a niche that will comfort consumers looking to get the greatest amount use for their money. For example, instead of buying two or three pairs of dress shoes a year, a customer might opt to buy one—more expensive—very high quality pair that will last several …This Land…

years and develop personal characteristics. This example can be applied to every product category available at This Land and will help mitigate economic woes. Competition within clothing retail can be devastating. Fortunately, this particular section of menswear stores are more inclusive than exclusive and often support businesses that may compete in the same market. The reasoning behind this type of thinking is rare, but not uncommon. For example, Vancouver Canada has three world-class menswear stores— Inventory, Roden Gray and Neighbour—all within a few blocks of one another. In a word, a “scene” has developed and all three businesses have benefited from mutual respect and support, all knowing that there is enough quality clothing available to maintain a unique selection.

Executive Summary This Land will be a menswear specialist located in the Fulton Market district of Chicago. The purpose of this plan is to highlight certain opportunities currently available to a retail business capable of targeting and executing for a particular high-end market. Leading the charge in an untapped menswear market is a daunting yet thrilling prospect. With a projected profit of $600,000 in the first year, This Land not only breaks even, it exceeds even and will create a new outlet for masculine aesthetics.

Conclusion This Land stands poised to fill a profitable void in the Chicago menswear market—the void itself being as important as our numerous strengths. While the demand is high for the products and services This Land will provide, there isn’t a business satiating consumers’ appetites just yet. We feel our competitive advantages—high quality products, expert customer service—will set This Land apart in a market packed with similar small businesses struggling to find an identity and brand consumers can comprehend and desire. The target market is already searching for the products This …This Land…

Land will carry and is a group who shares information through forums and blogs. In many ways, the target market will act as advertising and promotion, informing and encouraging each other to take interest. This Land bucks trends when it comes to the location of the business. It is a destination, not a chance find. We feel it will not only keep real estate costs low, it will also create intrigue. One of the many selling points of This Land is its low-cost advertising and brand-building budget—a draining and crippling hurdle for many small retail businesses. The suppliers of This Land are the preeminent producers of our time and show no signs of changing tastes or production techniques—promoting high price points due to high quality. The notion that clothes are an investment and can help to build a wardrobe that will last a lifetime is appealing to anyone looking to get the biggest bang for their buck—in the meantime covering various professions, ages and backgrounds. In the end, This Land is for men who actually care about real quality, not about prestige.

…This Land…