DiY
Table Of Content:
Company/ Concept Mission & Vision Statements Shared Values Company / Store Culture / Employee Culture Customer Competition Branding: Name, logo, symbol, sign, design, font and colors Location/ Store Décor & Visuals Five Senses Plan-o-gram List of merchandise SWOT Event Calendar Flyer/Poster layouts Staffing & Annual Pay Ways to motivate employees Finances & Human Resources
Page: 3 4- 5 6 7- 9 10 11 12 13- 19 20 21 22-25 26-31 32-33 34 35- 36 37 38- 39
Company/ Concept A store where all the basic merchandise like t-shirts, tanks, shorts, jackets, yoga pants, cardigans etc. is available in various colors and sizes. Highlight of the store is it’s customization bar where customers can customize their products to suit their style using studs, sequins, snaps, patches etc. We encourage our customers to use their creative imagination & help them customize their stuff. Customers are also welcome to get their own stuff & customize it at our “customization bar”.
It is the mission of DIY to bring out our customers creativity by providing basic clothing and a customization bar. Our friendly and artistic staff will help translate customer’s visions into reality and onto clothing.
VISION STATEMENT The vision of DIY is rustic. It is a warehouse and consists of plain, simple clothing available for purchase. On top of just being a retail store we have a customization bar, which consists of: studs, beads, threads, lace etc. The point of customization bar is to allow customers to embellish the clothing they purchase. They will also be allowed to bring in their own clothing. We want to create a fun, creative environment.
Shared Values As a company we want to protect our environment and the people around so all out items at the customization bar would be “lead-free�.
Company Store specialty:
Customization bar Warehouse feel Basic merchandise Creative feel Relaxed & chilled out atmosphere
Store Culture Urban Rustic Warehouse Exposed brick walls
Oxidized bars to hang clothes all over the store Oxidized lights all over the store Unfinished wood tables to display stuff Brown paper bags with our logo
Employee Culture Dressed casually, funky Friendly, helpful, creative Young college studentsboth male & female
Customer Young female 16-25yrs Trendy Style conscious Middle class Tourists
Competition American Apparel Conclusion: Strengths: Based on our research we feel our prices are definitely lower than American Apparel which makes us a better option to shop at. Our shop offers a customization bar giving our customers the freedom to explore their creative side. Weaknesses: Our weakness is that we just have 1 store and no online sales.
Opportunities: Our opportunities would be to expand into other merchandise & customization options. Threats: American Apparel is already an established name in the market so it would be tricky to tap into their customer base and pull them into our store
Branding Name: DIY (Do It Yourself) Logo: DIY with a big gold stud Symbol: Big gold stud Sign: DIY Design: Simple & bold
Font: Illuminate Colors: Burgundy & Gold
Location Fact Sheet Store Location: Lincoln Park, Chicago, IL Cross Streets: W Armtage & N Halsted Neighborhood: Lincoln Park Total square footage: 1500 sq ft. Shape of store: Rectangle Entrance/ Exit: One- push/pull glass door Windows: 2 big in the front on each side of entrance Monthly Rent: $16/SF/Yr ($16*1500=$24,000/12= $2000) Terms of lease: 1-5 years Security Deposit: 1 month’s rent Expenses occurred by lease: utilities Air conditioning & heating: Yes, central
Store Décor & Visuals
Exposed brick walls Oxidized Lights Display Mannequins Floor lamps in oxidized finish Rectangular steel table for the customization bar Raw wood round tables to display folded merchandise Steel rods to hang/ display t-shirts & tanks Display boards with images Love seat
Lighting 2 at $133.11
8 at $95 2 at $750
4 at $359.99
Bust Forms
2 sets at $145 each
Furniture
1 at $2,895
1 at $1500
10 at $359
5 senses Ears: Music- soft rock Eyes: Rustic, exposed bricks, steel Nose: Woody, warehouse feel Touch: Rough Taste: Studs, oxidized paint, steel
Plan-o-gram
List of merchandise T-shirt $15.50: •Crew neck •V neck •Round neck •Scoop •One-shoulder Tanks $10.50: •Regular •Racer back •Tube •Scoop •Spaghetti
*T-shirts & Tanks available in plain cotton in multiple colors. *T-shirts available in long & short sleeves.
List of merchandise Jean Jacket $30.00: •Black •White •Lt denim •Dark denim
Jean Shorts $20.00: (Available in high-waist and regular) •Black •White •Lt denim •Dark denim •Burgundy
List of merchandise Yoga Pants $25.00: •Capri's •Roll over •Regular •Straight
Cardigans $25.00: •Multiple colors •Thicker than regular cardigans
List of Bar Merchandise
Studs: $12 for a pack of 12 pieces Sequins: $8.50 for a pack of 24 pieces Snaps: $10 for a pack of 12 pieces Patches: $8-$20 (depending upon size)
SWOT External Environment Factors: 1.Competition Opportunities: -Customization Bar -Customers can bring their own merchandise & customize it • Threats: -Same price as our competition -People would go online to shop at our competition & not come to our store 2. Economics• Opportunities: -We can grab major percentage of market share because of our customization bar. -No return policy at our store for customized merchandise. • Threats: -Technology -Customers can buy merchandise & stuff for customization from our store & then do it at home if they want.
3. Technology• Opportunities: -Online advertisements -Social media • Threats: -Customers would buy off from other stores website -Customers cannot shop online our store’s website 4. Society (Social)• Opportunities: -Individuality -Advertising by word of mouth • Threats: -Changing trends -Laziness in today’s society would affect as it is time consuming to prepare the final product at our store.
Internal Factors: 1.CustomerDemographics: Strengths: -Target customer are college students who are creative & like to experiment their apparel -Trendy/ style conscious
Weakness: -Limited customer -More geared towards females Geographic: Strengths: -Chicago is a creative city -Store located near college Weakness: -Transportation since we only have 1 store -Store only in the city and not in suburbs.
 Behavioral buying traits: Strengths: -Creative people who like crafting -Customers who read about current trends in magazines can use that as inspiration at our stores while customizing their merchandise. Weakness: -Only for creative people who like crafting -Our store is not for bargain shoppers 2. Product MixStrengths: -Variety of merchandise -Customization
Weakness: -Durability of detailing on the merchandise -No return for customized stuff policy
3. Pricing StrategiesStrengths: -Customers can dictate their total price depending upon the type & quantity of customization. -Semi- annual sale only on apparel Weakness: -Minimum quantity purchase required on customization stuff -Final product after customization expense versus our competition. 4. PromotionStrengths: -Semi annual sales -Store card: If you spend $40 ten times then the 11th $40 sale would be free
Weakness: -Not a lot of promotions; mostly by word of mouth -People can get their own merchandise for customization & not buy products from our store.
5. DistributionStrengths: -People need to come to store, no only purchase possible -Our store would have stall in the flee market only during summers Weakness: -No online customization -Just 1 store 6. Employees/ management structureStrengths: -Patience -Creative employees Weakness: -Limited staff -Interaction limited between customers & staff
Event Calendar January: Winter Blowout Sale. Selected sale merchandise will be 20% for the first week of January, the 1st-8th. February: Valentine’s Day Special. Valentine’s Day weekend, February 14th-17th, all red and pink items will be 15% off. March: St. Patty’s Day Deal. Any of the green merchandise in the store will be 15% off the weekend of March 15th-17th. April: An April shower brings a Twitter Blast! Throughout the month of March DIY will be giving out flyers to the customers as they make their purchase reminding them to follow our Twitter account. On a random day in the month of April our account will randomly blast a tweet informing everyone who follows the account to come in and enjoy 30% off sale on your purchase!
May: Mothers Day Weekend Special. Mothers Day weekend, May 10th-12th, all apparel for the weekend will be 20% off June: Summer’s in Session! All of the basic shorts and tanks will be 10% off every weekend in the month June.
Event Calendar July: Independence Day. All month of July we will be selling American flag jean shorts August: Back to school flyer. The whole month of August we will be giving out flyers to the customers for 15% off of apparel for their next purchase.
September: Labor Day Weekend Sale. All white merchandise in the store will be 15% off Labor Day Weekend October: Halloween Spooky Special! Every Sunday during the whole month of October customers will get 15% off their entire purchase. Flyers will be sent with customers all month reminding them of the sale. November: Buy one pack of studs from the DIY bar, get another pack half off the weekend of November 15th-18th December: Black Wednesday flyers. On Black Wednesday DIY will be opened at midnight for our first black Wednesday event.
Flyer/Poster Layouts
Staffing Days of the week: 3-4 days a week Store Hours: Mon-Saturday: 10:00-9:00 pm Sun: 11:00-6:00 pm How many employees: 3-4 employees during the week 6-7 employees weekend 10-12 employees total Employee pay: Owners are managers- $12/hour Part-time employees- $9.00/hour
Possible Employees: Manager (2 managers) Sales Associates
Employee: Annual Pay Manager: Monday- Thursday: 9.5*12=$114 Friday: 8.5*12= $102 Sat: 9.5*12= $114 Sun: 6*12= $72 Total Week: $402 Total Year: 402*44=$17, 688 17,688*2= $35,376/ managers per year Employee: 15 Hours/Week 9*15= $135/ week 135*44= $5,940/year 11*5,940=$65,340/ employees for year Total For Employees and Managers: $100,716
Ways to motivate Employees.. Employee of the month board with picture of the employee with highest sales on the board
Each month employees would be asked to design/ suggest styling techniques based on the specialty of the particular month & best design/ idea would be displayed on the board above customization bar for customers If an employees chosen design sells well, employee would be rewarded with a 15% off coupon valid on entire merchandise at the store.
DIY Finances
Loan: Required for $30,000 Security Deposits: Rent, utilities etc. covered in store location Start-up Expenses: $40,000 Insurance: $8,000 (only for the company, not for employees) Legal Consulting fees: $2,000 Office supplies: $300/ month Advertising: $1000 Printing: $300 Sales Tax Permits: $100 (registration fees) Stock Inventory: $12,000 Computer Equipment: $1000 Furniture & Fixtures: $15,900
DIY Human Resources Human Resource: No human resource Dress Code: No dress code. Show personality and creativity. Customer Service: No delivery. No shipping. Greet customers and check up on them. Offer gift cards. Store punch card. Handbook: No handbook. Benefits: No benefits. Policies: No returns on customized apparel. Exchange for non-customized apparel. Cash or credit. Attendance: 2 hour notice if unable to come in. Reporting an absence: Employee that is unable to work has to find someone to cover his or her shift. Send shift chart every week through e-mail. Breaks: Any shift 15 minute; 5+hours: 30 minute break; 8+Hours: 1 hour and two 15 minute break. Pay Distribution: Owners are managers- $12/hour. Part-time employees$9.00/hour (with retail experience) Resignation: 2 week notice At-will employer: Yes