Uniqua Brown, ​ Brytton Smith & Shakina Stewart 3414 Peachtree Rd NE, Atlanta, GA 30326 BUSATL@gmail.com
______________________________________________________________________________
To whom it may concern:
Today we are writing this document to express our interest in starting a Pop-Up Shop exclusively Bape attire. We will be going over our Business plan, Marketing, Merchandise, Management, Location etc in this document. Bape is an urban streetwear brand that we feel will do very well with and Atlanta customer base. Bape is a lucrative brand, that is considered a mid to high range brand. We believe that this Pop-up Shop will show a taste of the profitable that the Bape brand can bring. We would like to look this Pop-up shop in the Wish Atl store which we feel has the same customer base as our brand, because of this we optimize our chances of interact with our target market. Wish Atl as holds many brand similar to Bape. We believe that through this endeavor we can also be met with success in the future. If the Shop does as well as we expect it it there could be many opportunities for not only the Bape brand but also our company BUS in the future.
_________________________________________________________________________________________________________
*A Bathing Ape BAPE
Prepared by:
Brytton Smith, Shakina Stewart, & Uniqua Brown Owners BUS LLC 3414 Peachtree Rd NE, Atlanta, GA 30326 (404)233-2824 BUSATL@gmail.com​ , busatl.com
Date Prepared: Nov 16th, 2015
Contents
Executive Summary Business Overview Critical Success Factors The Management Team The Market Financial Plan Management Plan Business Structure Management Team Management Compensation Personnel Compensation Key Advisors/Directors Communication Governmental Approvals Merchandising/Product Plan Merchandise/Product Description Unique Characteristics Proposed Lines Proprietary Aspects Six-Month Merchandise Plan Merchandise Assortment Market Trips Markup/Markdown Policies Brick-and-Mortar Location Plan Physical Location Location Features Target Market Considerations Leasehold Improvements Other Location Costs Signage Web Plan Summary
Overview Internet Strategies Online Marketing Strategy Web Development and Hosting Costs Buying and Shipping Methods Future Features Marketing Plan Industry Profile Market Economic Factors Market Analysis Summary Market Needs Customer Profile Future Markets Competitive Analysis Competitive Advantage Pricing Pricing Strategy Price List Pricing Policies Market Penetration Brand Strategy Advertising and Promotion Sales Strategy Publicity Promotional Events Evaluating Marketing Efforts Financial Plan Sales Forecast Cash Requirements Break-Even Analysis Projected Financial Statements Monthly Cash Flow Statement Year-End Income Statement Year-End Balance Sheet
Ratio Analysis Retail Operations Reporting Policies Employee Development Staffing Levels Hours/Days of Operation Inventory Control Security Systems/Shrinkage Control
Appendix
Executive Summary
Business Overview
B.U.S. Atlanta LLC. (Bringing Unique Styles to Atlanta) is a new urban pop up shop located inside WISH ATL in the commercial district of East Atlanta. A location originally established as entertainment to the Inman and Chandler Park local communities. Little Five Points has grown to be one of the most diverse areas more specifically known for its alternative culture. Its physical address is 447 Moreland Ave NE Atlanta, GA 30307 PH: 404-880-0402. Business hours will be during hours of the store: 12:00pm -8:00pm Monday- Friday 12:00- 9:00 pm Saturday and 1:00pm -7:00pm on Sunday. B.U.S. Atlanta LLC. is a retail shop introducing and selling BAPE brand menswear, women’s wear, and children’s wear to the hip, free spirits of Atlanta desiring a hot trendy street wear apparel line. Selling BAPE in Atlanta now is perfect timing for a niche market already hungry to see a high end line of urban wear. Currently there are not any stores selling quality, high-end urban wear with the same level of style that is catering to our youthful, bohemian target market. B.U.S. Atlanta LLC’s. mission is to bring a premium urban apparel line in a variety of silhouettes, numerous sizes and styles to accommodate the likes of the casual, fashion
forward men, women, and children of Atlanta. Our brand is geared to satisfying the socially free spirited consumer by providing an exceptional customer experience while being stylishly tech savvy, relatable, and unique.
Critical Success Factors Merchandise mix will range from a variety of sizes to fit the wants of someone from each family. No person will be left out, we anticipate in being able to satisfy someone from every part of a family. Maintain inventory by storing merchandise in locked cases and display being the only merchandise accessible to customers on the sales floor. Advertisement for B.U.S. will compliment the aesthetic of the store and all employees will be dressed in BAPE apparel as we build an impeccable consumer relationship with each customer in order to influence purchases and gain loyal clients. Utilization of the iConnect POS application to account for our in stock inventory will assist in maintaining current inventory and awareness so employees will be aware of availability and ability to forecast the most current merchandise to put out on display. A combination of both new and existing inventory will be sold in order to introduce BAPE to the youthful consumer and maintain BAPE’s existing clientele.
Marketing throughout several publications (i.e. Creative Loafing, and the Atlantan magazines) and multiple social media outlets will be used to promote both ​ B.U.S.​ as an up and coming pop up shop as well as the BAPE brand. Location is critical for a new brand so to ensure a great level of exposure Wish ATL is ideal for the pop up shop facility because of its high degree of foot traffic from our target consumers.
Management Plan
Business Structure
B.U.S. Atlanta LLC. is a partnership within a limited liability company, being the persons cannot be personally held responsible for the company’s debts or liabilities. Three partners equally own the company: Shakina Stewart-33.3%- ownership, Brytton Smith33.3%-ownership, and Uniqua Brown-33%-ownership. Job positions will include: Floor manager- Shakina Stewart, Sales Manager- Brytton Smith, and Buyer and primary Visual Merchandiser- Uniqua Brown. Floor manager/Buyer is responsible for procurement of stock, personal styling, inventory/stock control, and administrative tasks, networking with the manufacturer, correspondence with attorney, sales, and customer relations. Sales manager is responsible for personal styling, inventory control, financials, and communication with accountant, sales management, and customer care. Visual merchandiser is responsible for production of promotional tools for the brand, layout of BAPE merchandise, graphic design for advertisements, sales, visual displays, and customer support.
The Management Team
Floor Manager Resume:
Shakina Stewart 1650Anderson Mill Rd #10303 Austell, Georgia 30106
OBJECTIVE To utilize my knowledge and experience to heighten the growth and development of the company and peak performance.
HIGHLIGHTS OF QUALIFICATIONS Proficient in Adobe Illustrator, Photoshop, InDesign, Dreamweaver, Microsoft Word, Outlook, Excel and Power point wpm Strong verbal skills Outstanding time and organization management skills
EXPERIENCE Procurement/ Communication/ Accounts Receivable/ Accounts Payable International logistics for divisional representation Inventory for the current and inbound merchandise Procurement of divisional and departmental supplies
Prepare journal entries and analyzed general ledger accounts. Demonstrate presentation and facilitation in a classroom environment Train incoming representatives Ability to communicate with all levels of the organization Ability to display a commitment to promoting team spirit and working collaboratively to achieve team goals Manages customer complaints and takes appropriate corrective action Evaluate calls for quality assurance to enhance the customer experience. Quality assurance of merchandise supply replenishment, etc. between multiple shifts Frequently used computer technology (Cash register, Portable data terminal, Microsoft Excel, PowerPoint, Word, Adobe Illustrator, Photoshop, In Design, and Dreamweaver) Resolved/processed account inquiries, address changes, account closings Proven ability to communicate effectively in diverse environments Review, approve and process all check hold release requests Review, approve and process debit/credit card daily withdrawal
EMPLOYMENT HISTORY 2014-2015 2008-2013
Sales Consultant Retail Supervisor Customer Care Agent
Macy’s Inc. United States Navy United Healthcare
EDUCATION Savannah College of Art and Design FBA in Fashion Marketing and Management Saint Louis Community College A.A. in Business Administration and Management
References Available Upon Request
Sales Manager ResumeBRYTTON SMITH EDUCATION 1459 Mecaslin St. NW, Apt. 5117 Atlanta, GA 30309 334.790.1621 bryttonsmith@gmail.com www.behance.net/bryttonsmith
Savannah College of Art and Design | Sept. 2012 - May 2016 Atlanta, GA GPA: 3.0 Bachelor of Fine Arts - Fashion Marketing and Management Minor: Art History SKILLS Adobe Illustrator Adobe InDesign Adobe Photoshop EXPERIENCE Microsoft Word Microsoft Excel Microsoft PowerPoint Trend Forecasting Trademark and Logo Design Social Media The Buzz Boutique | July 2010 - June 2012 Auburn, AL Sales Associate Customer Service/Sales
Visual Merchandiser/ Buyer-​ Uniqua Brown
UNIQUA BROWN
256.479.4697
EDUCATION
SAVANNAH COLLEGE OF ART & DESIGN (SCAD)
Atlanta, GA
B.F.A. Fashion Marketing and Management
Anticipated Graduation: May 2016
PROFESSIONAL SKILLS
SOFTWARE
Microsoft Office Suite (Word, PowerPoint, Excel)
Adobe Creative Suite (InDesign, Illustrator, Photoshop)
INDUSTRY
Familiar with Fashion Design
Textile Development/Sourcing
Fashion Sketching
Mood Board Development
Knowledge on Current Trends
RECOGNITION
Artistic Scholarship Recipient
Student Incentive Scholarship Recipient
EXPERIENCE
SALES ASSOCIATE | KOHL’S
Snellville, GA [12/2014- 1/2015]
Delivering great customer service, POS and Sales floor
SALES ASSOCIATE | YOGURT LAND
Atlanta, GA [02/2014- 6/2014]
Ensure superior customer service by handling customer concerns and
questions promptly and to their satisfaction.
Jewelry Maker
Atlanta, GA [09/2013-02/2014]
Both designing and replicating beaded jewelry for a small startup
jeweler.
CHILDCARE PROFESSIONAL
Atlanta, GA [06/2013-09/2013]
Responsible for the care and well being of one child in a private home
setting.
ubrown20@student.scad.edu
Wish ATL Store Manager-​ Jennifer Bruce
Outside sources will be utilized as needed to avoid unnecessary costs. Retail Consulting Firm Atlanta Retail Consulting Inc 345 Woods Lane Alpharetta, GA 30005 770-754-5008 pcf@atlantaretailconsulting.com
Accounting Firm Deloitte LLP 191 Peachtree St. Suite 2000 Atlanta, GA 30303-1749 United States Phone: ​ +1 404 220 1500 Fax: +1 404 220 1583
Attorney
Boling Rice LLC 750 Hammond Dr #300
Atlanta, Georgia 30328 Map and Driving Directions Phone: (770) 744-0890 Management Compensation
Each partner will receive ​ equal ​ compensation from the success of the pop up shop. Each member is equally vested into the business so it is only fair that we share the rewards of our hard work. Each partner will receive 33.3% of the profits after all expenses have been paid. The estimated sales are a little over 100k so as an incentive to gain more profit; a sales tracker app will be downloaded on each partner’s company iPad to motivate members to push in customer service and sales.
The Market In identifying the demand in the market, first it is necessary to define the difference between urban wear and street wear. Urban wear is typically viewed as mass produced hip-hop apparel. Street wear is apparel with more creativity involved and tends to be more graphic in style. Through the city of Atlanta, street wear is growing in demand at a rapid pace amongst millennials.
Pop-up shops are sprouting quickly throughout downtown Atlanta and its surrounding counties. Though growing in popularity, street wear has only a handful of boutiques throughout the city of Atlanta and its surrounding metropolitan areas that offer apparel that appeals to the urban market. Even fewer boutiques in Atlanta offer premium selections of street wear in its stores. Currently Wish ATL is the only boutique in east Atlanta offering competitive street wear to the creative market. Projected sales for B.U.S. for one year is estimated at 400k if the pop-up shop opens quarterly.
The Financial Plan Personnel Compensation
Floor Manager skills:​ Must be able to motivate the team, assess situations quickly and solve problems. Listen and be able to resolve customer issues. Be flexible and able to work in intense work environments. Be skilled in understanding sales and financial reports, and familiar with employment and compliance laws for the State of GA. Floor Manager qualifications:​ Degree in Business Management or related field, at least 1 year in retail sales, and at least 1 year in customer service or customer care, be current on fashion trends and target market.
Floor Manager duties:​ assume temporary responsibility for everything that happens in the building and how much profit it generates until true cause can be ide ntified afterwards. Maintaining a very neat and clean boutique space, keeping an eye on merchandise, managers direct employees and monitor their work. Work with sales manager to control the store budget and its loss-prevention efforts; and plan the store's layout. Also responsible for enforcing safety, pricing and customer-service policies, special events, merchandise deliveries, inventory counts, and all company procedures.
Sales Manager duties: ​ Responsible for the day-to-day operations of the boutique space and oversees salespeople, customer service representatives and other employees. Able to interview, hire and train new employees. Prepare schedules and assign duties for current employees. Will be responsible to work shifts that cannot be covered by the other employees. Sales Manager qualifications:​ Bachelor's degrees in fields such as business, marketing or communications. Must be able to efficiently use Apple iPad, desktop software and cash register. Microsoft Office a must and Adobe creative cloud a preferred. Available for training at Wish ATL and will include lessons in interviewing, customer service, inventory management and scheduling.
Sales Manager skills: At least 1 year experience working in retail stores. Must be able to work in stress filled and fast-paced environments. Retail sales managers must be able to motivate and organize their employees. Sales Manager will be able to accurately use PDT to maintain inventory control.
Visual Merchandiser duties- ​ Promote the B.U.S. brand, as well as other products and services of the business. Design displays, stands and panels for launch, and other events. They also produce point-of-sale displays that are strategically placed throughout the store. Visual merchandiser will create window and in-store displays of goods for retail shops and department stores. Research to get an understanding of what is needed, and coming up with design ideas. Visual merchandisers also source elements such as lighting, props and accessories. The visual merchandiser will also make the most of the space available, install and dismantle displays, and work within a budget and meet deadlines.
Visual Merchandiser skills-​ Possess a flair for design and color, be creative, imaginative and energetic, have exceptional communication skills, be able to remain focused in distracting work environments, and show an interest in art and design.
Visual Merchandiser qualificationsAt least one year of retail experience. 2+ years of visual merchandise experience or equivalent training. 4-year degree in Bachelor’s in Business Administration and Visual Merchandising or Visual Communications if their particular school does not offer a merchandising concentration. Must be capable of learning quickly how to operate PDT, cash register systems, and Apple iPad and desktop software’s. Must also be proficient in Microsoft Office, Adobe creative cloud applications, and Internet savvy.
Key Advisors /Directors Executive mentors in retail industry: Jim Buckley - Founder of the Clothing Warehouse in Atlanta 420 Moreland Avenue Atlanta, Georgia 30307 404. 524.5070
Jennifer Bruce - Retail Manager of Wish ATLADDRESS 447 Moreland Avenue Atlanta, GA 30307 PHONE 404.880.0402
Abigal Lignugaris - Owner of Sole Shoes- 1245 Caroline Street, Suite 100 Atlanta, GA 30307 PHONE 404.523.1777
Communication Employees primary source of communication will be via Apple iPad ‘s. Contact information for each employee will be current and up-to-date as frequent correspondence for merchandise delivery, customer relations, and inventory is necessary. Any daily commitments to the brand, assigned tasks at hand, and customer feed back will be provided in person, as well as be submitted to Google Drive under a shared folder titledB.U.S. The floor manager will be the final decision maker in all transactions pertaining to the business. The Floor Manager, Sales Manager and the Visual Merchandiser will share responsibilities to make the pop up shop a success.
Government Agencies In order to obtain a business license or “occupational tax registration certificate” is required of all businesses operating within the city limits of Atlanta.
Business licenses must be renewed each year by completion of a Business License Renewal Application, also known as the Annual Business Tax Return. Renewals are due on or before February 15th of each year. Business licenses expire on December 31 annually. See Appendix for Document A.1
Merchandising/Product Plan Merchandise/Product Description We will be offering a mostly menswear based merchandise mix with a small amount of women’s and kids’ put in to satisfy all customers. A Lot of the merchandise we chose from their newest assortment, while also adding some of their old pieces. We’ve picked a large assortment of outerwear due to the time of season we will be open. The assortment overall offers a fun, urban feel, visualible through out Bape’s whole line. Unique Characteristics Bape is unique to Atlanta in many ways, since Bape is not offered in Atlanta it will be new to the area. Atlanta is a very urban, and hip place but it doesn’t have many of the urban streetwear stores as one would expect, because of this we can offer Atlanta customers something that before they could only buy only, this gives them the ability to see and interact with the product up close, giving the customer a more a more enriching experience with the merchandise. Proposed Lines We will be getting our merchandise from the New York based store, a secondary location would be the store based in Shibuya, Japan. We plan to ship through crate, and make our order on September 15th to ensure all merchandise will be ready for the shops opening. The sizes will range from S-L and M-XL on men’s Jackets, the price range from $28 - $1799, and the Pop-up Shop will be located in Wish Atl. The information for the New York based store is 91 Greene St, New York, NY 10012, (212) 925-0222. Proprietary Aspects We will be using Bape trademark bathing ape logo and name as a means to advertise our pop-up shop.This would need a trademark agreement with Bape. See Appendix for Trademark Agreement(Document A.2).
One Month Merchandise Plan ​
Merchandise Assortment
Market Trips We will not be making market trips, but will be buying our probuct for Bape’s New York based store and order through them. Markup/Markdown Policies ​ Since we bought the probuct at wholesale, we have a keystone markup, which levels it out to the same price on the Bape.com store.
Brick-and-Mortar Location Plan
Physical Location: Wish ATL 447 Moreland Avenue Atlanta, GA 30307
Hours: Monday
12:00 – 8:00 PM
Tuesday
12:00 – 8:00 PM
Weds
12:00 – 8:00 PM
Thursday
12:00 – 8:00 PM
Friday
12:00 – 9:00 PM
Saturday
12:00 – 9:00 PM
Sunday
1:00 – 7:00 PM
Exterior Photo of Wish ATL
B.U.S. will be located on the inside of Wish ATL. Wish ATL is located in side the unique shopping district of Little Five Points. Little Five Points is surrounded by a lifestyle of entertainment. This is an area east of downtown Atlanta that is known for its Bohemian culture and youthful crowds that stroll the streets from dusk till dawn, shopping, partying, and having a great time. There is a constant amount of foot traffic in the Little Five Points area because of offered amenities and neighboring brands which is great for B.U.S. Atlanta business.
Location Features
Wish ATL total square footage is 4800 sq. ft. The selling space B.U.S. ATL will be utilizing is approximately 250 square feet. There will also be 100 sq. feet of storage space in
the back stock area for storage. B.U.S. will use the already constructed wood, and glass display centrally located in the store. This positioning will alleviate additional costs and provide a form of in-house security for the high-end retail merchandise. The open layout of the Wish provides crowd control and is spaced to give its consumers a comfortable shopping experience. There are numerous boutiques in the shopping district of little five points. All of which cater to a similar target consumer which is complementary for B.U.S.. There are several restaurants and food trucks in the Little Five Points vicinity that allow customers to shop, fill their bellies, and continue on with their entertainment for the evening without having to leave the area. There is no parking garage in Little Five Points but there is tons of paid parking spaces and parking lots available as well as some free parking in designated parts of specified locations.
Target Market Consideration Below is a visual map of the Little Five Points area and its numerous lines of accessibility.
Little Five points is accessible via Marta train, bus line, highways I-285, I-75, I-85, I-20, and the 400. Tourists can use the South Line from the Atlanta airport exit Five Points. Students with limited transportation can visit the wonderful Little Five Points attraction via numerous Marta locations as shown. The map also highlights other city attractions that are accessible using Marta transit.
Lease improvements Wish ATL is newly renovated by CHOATE construction. A dramatic redesign of WISH Atlanta marks the advent of the store’s evolution; formally a public library, WISH became an exciting mix of art, fashion and sensory provocation. The WISH project began with the complete demolition of the interior of their existing retail store including asbestos abatement before the new construction began. Structural upgrades including new wood floor and ceiling joists, concrete footings and CMU piers to support eight back lit 1� glass floor boxes to display their clothing lines. The existing steel windows were replaced with an aluminum system to replicate the existing steel system due to the historical nature of the building. The new walls are decorative colored glass wall panels or plywood panels to support the metal hang bars to display the clothing. The mechanical system includes two new rooftop units, one split system and all new plumbing fixtures. The electrical renovation includes a new service, turnkey security package and a high-end lighting package to accentuate the upscale clothing and shoes for sale.
Signage
B.U.S will have a large poster on one side of the front window of the store. The signage practical location is for existing and new consumers to anticipate the new brand attraction as they are passing by or entering the store. Wish is approximately 4800 sq. ft. so there will be plenty of room for promotional advertising poster for the launch party that will be placed in front of the B.U.S. display case, as well as our merchandise ad which will be a 4x7 ft. sign of key selections of the merchandise mix. There will be small 5x7 promo cards alongside each piece of merchandise detailing price, the brand , and new items soon to launch in-store. See Appendix A.3 for Example.
Web Plan Summary Overview We will offer a small webpage highlighting information on where to buy the product, store hours, parking, etc. We will be using the website creator Squarespace to develope our website. Squarespace makes it easy to develop and design a simple website to feature the basic information on about the Pop-up shop. Squarespace business website plan is set a $26 month to month and has many features included in the price for our business. We will create busatl.com to show this information to the customer, and diret our custumers to bape.com and wishatl.com for any farther inquiry.The website will be launched in the middle of september.
Internet & Online Marketing Strategy Our Online target market is the same as our regular target; urban, style savvy, young men. Through Squarespace we are offer a $100 Google adword credit , which we will be utilizing. We will be marketing our shop through bape.com, but our biggest aspect in marketing online will be social media. Through Twitter, Instagram, and Snapchat we will promote ourselves and product, and because social media is free it will help us as a small business. Web Development and Hosting The website will be designed in-house, and will be hosted and developed through squarespace. Customers will not be able to buy direct from the website, but will be able to gather information on where and when they can buy. Since the site will only be up for about month and a half the updates will be done in-house. A google email will be provided through squarespace and upkeep will be done by the three owners. See appendix A.5 for communication Plan. Costs For this one month pop up shop we will be Squarespace for Business which is $26 month to month or $18 a month annually. We’ll pair this with using Squarespace
app Metrics to monitor the analytics of the website, such as tracking the traffic of the site. It has fully integrated ecommerce, $100 Google adword credit, a professional email from google, and Developer Platform all included with the Business squarespace plan. We will feature a few picture of the location and product but we will not be selling products on the site. Buying and Shipping Methods ​ Although we do not plan on having online sales at the moment, if in the future we grow to include them we will swatch from using Squarespace Business website to their Basic store site, which is $30 month to month or $26 a month annually. Just like their website, this plan offers many features. We would be shipping through UPS and the average shipment time would be 2-5 days for Georgia residents and 5-14 days for customers outside of Georgia. For everthing we will be using the features already in place by Squarespace, such as their completely secure database that is SSL enabled and PCI compliant, so customer can pay with ease. Package will be plain plastic bags and boxes until business picks up. Return shipping will be paid by the business but all unwanted merchandise must be returns within 14 days of receiving the product and customers can only return for exchange or store credit. Future Features In terms of future features if the site needs to be up longer for certain reason, we will be doing newsletters. Through newsletters we will be connecting to customers, we will talk about the new products, any promotional events for Bape, and maybe even include customer satisfaction storys. So if in the future there are more Pop-up Shop or a physical brick-and-mortar store that sells Bape and other brand, similarity to Wish Atl, we will already have the customer satisfaction and trust to back us up in future endeavors.
Marketing Plan Industry Profile Bape has a global presence as a brand because it was founded in Japan in 1993. Bape has also gained a global presence because of the huge success of their online store, while also, maintaining profitability in the brick-and-mortar stores. As of 2015, Bape has had a store in New York City for 11 years. The store in New York City was opened because of Bape’s rise in popularity among celebrities, and many of them began to promote the urban brand in the United States. For the target market of our pop up shop, we will be focusing mainly on men’s apparel, but we will have some merchandise for women and children, as well. The trend of urban apparel in Atlanta is continuously growing. This is why a pop up shop for Bape in Atlanta will be profitable. Karl Taro Greenfield states “in a notoriously fickle market – urban street wear – Bape is curious mixture of exclusivity, inscrutability, and steady growth that could be turned into a torrent of revenue that establishes Nigo’s brand as an iconic global name.” Bape emphasizes on the fact that they want to maintain the company’s mystique. A problem that Bape has faced in the past is the burgeoning resale market, so this is why we are placing our merchandise in glass cases and not allowing the customer to buy any of the displays. This will help prevent theft and people buying things that are not their size just to resale it.
Market Economic Factors Atlanta’s economy is consistently becoming better, so this will help in the success of BUS creating a pop-up shop for Bape. Atlanta has had the largest employment gain in professional and business services from August 2014 to August 2015. In these sectors,
18,500 jobs were added in one year. According to Business Insider, Atlanta has become one of the best cities to start a business.
Market Analysis Summary The primary target market for our Bape pop-up shop specializes in hip hop and urban lifestyle wear for young men and women, as well as, children. The ages of the primary target market are 18 years old to 35 years old. BUS chose to open the pop-up shop in Wish based of the demographics of the area. Wish is known for having upscale, urban clothing, so Bape would be the perfect addition for the customers. Based on the psychographics of the target market, the customer is a young, fashion-forward individual who enjoys hip hop and an urban lifestyle but wants to portray this lifestyle through their clothing. This target market is located all over the United States, but a majority of our target market is found in metropolitan areas. In Atlanta, our target market probably makes approximately 50% of the total market.
Market Needs Because urban street wear is already popular and consistently growing in Atlanta, there is a need for Bape in the market. A majority of people have heard of Bape, but they have only had access to their merchandise online. Adding a Bape pop-up shop will fill this gap for the target market. Similar brands are offered in Wish within the same price point, but Bape is one of the most popular street wear brands. Bringing Bape to Atlanta will fill this gap because people will actually get to see and feel the clothing before actually purchasing the merchandise. Customer Profile
Bape’s primary customer is a young, fashion-forward man who enjoys hip-hop music and wears urban apparel known as street wear. The customer lives in major metropolitan areas and likes to go out to different hip-hop events and clubs. Their income is on a higher level because of the price point of our merchandise. Rappers and other people involved in the hip-hop community are huge fans of Bape, so they will drive a good distance to be able to buy Bape inside of Wish. The customer already shops at Wish so Bape will be an added bonus for them. In the United States, New York City is the only Bape store that exists. Because Atlanta is constantly growing in population, the customer that lives here will appreciate the fact that they can buy Bape in-store instead of having to travel to New York City or buy online only.
Future Markets The market for Bape is already pretty well defined because of the type of clothing that is being offered. The sales that are acquired are going to be from individuals who are already aware of the Bape brand. If the Bape pop-up shop is successful, there may be an opportunity to open a strictly Bape store in Atlanta. This would increase sales and enhance the product offering because there will be more merchandise available to the customers.
Competitive Analysis
Location
OPENING CEREMONY
HUF
New York, Los Angeles,
New York, California; also
Tokyo; also present in
present in boutiques
boutiques
Size
Global presence
Global presence
Strengths
Adopts multinational
Classic American
approach, stocking
craftsmanship, vintage
emerging homegrown
design, produces quality
designers, showcases spirit
goods that incorporate the
and merchandise of a
past and present to create
visiting country, transforms
the future, created for
each store into a
skateboarders and artists
marketplace for exotic
alike
souvenirs and international talent
Weaknesses
Price point, only available in
Only available in certain
certain brick-and-mortars
brick-and-mortars, targets skateboarders and artists specifically instead of broadening their target market
Product Offered
Men’s and women’s
Men’s clothing, shoes,
clothing, shoes, accessories
accessories, skateboards
Unique Features
Teams up with many
Aesthetic is specific to
different designers to have
artists and men that
a broad range of styles for
skateboard
their brand
Competitive Advantage Quality
Use of quality materials and stitching
Price
Price point is set for our specific target market
Unique Merchandise
Designs are iconic and different than other brands; designs are globally associated with Bape brand
Distribution Systems
Produced in Japan and not out-sourced for cheaper distribution
Marketing/Advertising
Logo is advertised and already associated with Bape brand
Geographic Location
Atlanta, GA; growing popularity and associated with urban apparel
Basis for Competitive Position in
Will be considered an asset to Atlanta because
Marketplace
of the market we are targeting who are already aware of the brand
Pricing Strategy Bape’s pricing strategies have already been set. They have maintained a reputation of being an upscale, urban street wear brand. BUS is simply using the same pricing strategies that Bape has already set into place for their brand. There will be no re-pricing because this would alter the company’s mission of being upscale. The pricing strategies of Opening Ceremony is set around the same basis, but they are not considered as urban. They offer different styles, so their pricing strategies are different. HUF is at a lower price point, but their specific target market is not the same as Bape’s target market. Price List Purchase prices: No discounts will be offered. Shipping fees will cost approximately $1,224.00 to ship from New York City to Atlanta. Pricing Policies For the pricing and packaging policy of the merchandise, whatever is depicted on the tag of the merchandise is the final price. The shopping bags are coming from the Bape store in New York, and BUS only has to pay for shipping. BUS is striving to keep our customers happy so whatever conflict occurs will be handled accordingly without jeopardizing the loyalty of the customer.
Customer return policy:
Customers can return and be reimbursed with store credit. Whatever merchandise is sold the last week can not be returned for store credit, but it can be sent back to the New York store for exchange only.
Brand Strategy The image of the Bape brand has already been set into place by the founder and designers. The culture of the business will follow these guidelines. We will be conveying the image of an urban apparel brand that appeals to our market. The Bape brand already stands out from it’s competitors because it has separated itself with it’s innovative designs. We will follow the mission that has already been set by Bape. Employees will wear the Bape brand while working to try and boost sales. The merchandise will be stored in the back of the store, so only a sales associate can retrieve the clothing for a customer. This will add to the already exclusive identity behind the Bape brand.
Advertising and Promotion To reach the market, BUS will be promoting the brand months in advance to get the word out about our pop-up shop. Poster will be put up around Little Five Points and other urban areas in Atlanta. This also includes night clubs and other events. Flyers will also be passed out frequently, and there will be flyers available in Wish, as well. Wish will be handling the email blasts to their already loyal customers. It will cost around $350.00 for our promotion pack of 1,000 posters and 3,000 flyers. See Appendix for Flyer and Poster example A.3 and A.4.
Sales Strategy To track sales, BUS will be using iPads to record purchases and manage inventory using a POS application. This will be the information used to track future sales because we will be able to visually see what merchandise is selling the most and when it is selling the most at all times. Employees will not simply ask a customer how they are doing, but we will try to make a real connection with the customer. This will make the customer feel more individualized and comfortable with the brand and their purchase. Any questions or concerns the customer may have will be addressed while always having a positive attitude. The customer will always feel welcomed when working with an employee, and this will encourage the customer to buy the merchandise.
Publicity There will be opportunities for BUS to to promote the awareness of the pop-up shop prior to it’s opening. In Atlanta, we will be promoting at various hip hop events. For example, BUS will have a presence at A3C Festival, 808 Festival, and Afropunk Festival to get the word out to the customers. There will be other events going on with hip-hop artists, as well, and this will be a way to gain public awareness too. BUS also plans to have advertisements in Creative Loafing because of it’s media presence in Atlanta. With help from Wish, they will be promoting the pop-up shop leading up to it’s opening. BUS will also be soliciting publicity through social media platforms such as Facebook, Instagram, and Twitter.
Promotional Events
BUS will be hosting a promotional launch party the day the pop-up shop opens at Wish. People will be aware of the event because the information will be present on the flyers and posters. There will be a DJ, drinks, and food to accommodate our guests. It will be free to enter, and there will be gifts bags with a $10 gift card inside for the first 25 people. This will encourage attendees to come back and shop. It will not cost any money to have the event at Wish because BUS is paying for everything for the event needs, and this will just promote their store, as well. The cost of the DJ will be $500.00, drinks will be $500.00, and food will be $400.00. We anticipate to give out $2,500.00 in gift cards.
Evaluating Marketing Efforts The most cost effective marketing and promotional efforts were outlined in the previous sections. It is reasonable to create the designs of the flyers and posters ourselves and to have them printed locally. Since BUS will be the only employees of the pop-up shop, we will not have to worry about hiring other people to work at our store and promote the awareness of the pop-up shop. Promotion from friends and family is free, so this will be cost-effective, as well. A promotional event is essential because this will get the word out about the pop-up shop and also promote a good time for the customers. This will make the customers happy, and they will know that they are the main and true focus. BUS will be able to see how effective the promotional efforts were when the pop-up shop opens. After a week of sales, we should be able to track how well our promotional efforts worked, and we will keep track of this by tracking our sales and inventory on iPads.
Sales Forecast
Week 1 Jackets: $14,000.00 Tees: $4,450.00 Shirts: $0.00 Pants: $1,000.00 Goods: $3,000.00 = $22,450.00 in sales
Week 2 Jackets: $8,000.00 Tees: $6,000.00 Shirts: $2,900 Pants: $6,000.00
Goods: $8,000.00 = $34,900.00 in sales
Week 3 Jackets: $16,078.00 Tees: $5,293.00 Shirts: $9,434.00 Pants: $4,195.00 Goods: $15,000.000 = $50,000.00 in sales
Week 4 Jackets: $12,000.00 Tees: $2,000.00 Shirts: $5,743.00 Pants: $6,000.00 Goods: $6,505.00 = $32,248.00 in sales
Cash Requirements
Start-Up Costs Business License Rent Cost of Inventory Shipping Fees Posters and Flyers
$125.00 $2,000.00 $69,799.00 $1,500.00 $350.00
Launch Party
$1,400.00
Gift Cards
$2,500.00
Lawyer
$500.00
Accountant
$100.00
Loan for start-up costs Working Capital
80,000 $59,598.00
A loan of $80,000 will cover the start-up costs, and this will result in a $59,598.00 for working capital.
Break-Even Analysis The current assets of the Bape pop-up shop is the value of the inventory, which is $139,598.00. The current liabilities are based off of the loan, which is $80,000.00 that we have to acquire to cover the start up costs. The only variable costs for would be the shipping fees, which is $1,500.00. Employees will not be paid until we know how much profit is made from the pop-up shop because BUS will be paying the loan back before any wages are given. If all of the merchandise is sold, employees would be paid $18,200/person after everything else is paid off. All of the merchandise will be arriving at one time, so BUS does not anticipate having to order another shipment. Sales: $139,598.00 (Inventory value) - $80,000.00 (Loan) = $59,598.00 in sales to break-even Units: $80,000.00(Loan) / 664 units (Total units) = approximately 120 units must be sold to break-even
Cash Flow Statement Net Profit
$139,598.00
Minus: Business License Rent Cost of Inventory Shipping Fees
$125.00 $2,000.00 $69,799.00 $1,500.00
Posters and Flyers
$350.00
Launch Party
$1,400.00
Gift Cards
$2,500.00
Subtotal
$79,174.00
Net Cash Flow
$139,598.00
Cash Balance
$54,598.00
Month-end Income Statement Revenues and Gains
=
$139,598.00
Expenses and Losses
=
$79,174.00
=
$59,598.00
Net Income
Month-end Balance Sheet Assets Current Assets Inventory Total Assets
$139,598.00 $139,598.00
Liabilities Current Liabilities Loan
$80,000.00
Net Profit
$59,598
Ratio Analysis Current Ratio = $139,598.00 / $80,000.00 = 1.74
Retail Operations
The operational policies we are putting in place will be in terms of product care and handling, cash handling, and inspection of merchandise on the floor.. Employee development will be based on product knowledge, brand knowledge, and customer service. Since we owners will be the three employees, we will be handling our own employee development. We will be having three employees who are the makers of the Pop-up shop and owners of BUS LLC. We Chose to have only three employees because of the short amount of time the shop will be open.Our shops hour and Days of operation will align with Wish ATL the location in which we reside We will be using a computerized retail system to control and track our inventory. We will be utilizing the security system at Wish ATL, but we will also be putting some items in glass to lower the chance of theft or damage.
Appendix A.1Â ANNUAL BUSINESS LICENSE DEADLINES: License Expires:
December 31
Renewal Deadline:
February 15
Payment Deadline:
April 1
To apply for a Business License: STEP 1 : Complete a New Business Tax Application, SAVE and E-Verify Affidavits and provide a copy of government issued ID. All required forms of ID must be submitted, $75 non-refundable registration fee and the $50 non-refundable zoning review fee along with the businesses application materials so that the State Office can process the application. Payment must be made in guaranteed funds (i.e. money order, cashier’s check, etc.). Personal checks are not accepted. STEP 2 : Application will be routed to the Office of Zoning to review and verify if a business can exist in the desired location. Zoning conducts research to verify that there is permitted use based on district regulations. Some licenses may require site inspections or further research to determine approval. STEP 3 : Once Zoning has approved the application, an invoice will be mailed to the applicant advising of payment options. STEP 4 : Applicant remits full payment and an official business license certificate will be mailed. The business license certificate must be displayed in a conspicuous place at the business location.
Generally, walk-in customers are able to complete the process in less than an hour and a half. However, this estimate is heavily dependent on the having all appropriate documents readily available and the volume of customers. The Office of Revenue stops processing new business license applications at 4pm daily. The average processing time for a mail in application is 3-5 weeks. Checklist: The following is a listing of documents that may be required to complete application process, depending on the nature of your new business.
Completed and signed ​ New Business License Application​ .
Download Here
Notarized E-Verify Affidavit ​ - Pursuant to Georgia SB 160,
Download
beginning on July 1, 2013, private employers of 11 or more
Here
employees must be registered for the E-Verify program and must provide their E-Verify user number on the required affidavit. Private employees with less than 11 employees are required to provide evidence claiming to be exempt from the requirement to register and utilize the E-Verify program and such evidence must
be presented in the form of an affidavit. The City of Atlanta cannot grant a business license without a notarized E-Verify Affidavit. Registration information is available at http://www.uscis.gov/e-verify .
Notarized SAVE Affidavit -The State of Georgia has made
Download
participation in the SAVE Program mandatory for any agency
Here
administering a business license. SAVE, short for the Systematic Alien Verification for Entitlements, is a federal, internet-based program which is operated by the U.S. Citizenship and Immigration Services. The program helps a municipality determine the immigration status of business license applicants. The SAVE affidavit verifies each applicant’s
lawful presence in the U.S. by allowing the applicant to affirm either that they are a “U.S. Citizen or legal permanent resident 18 years of age or older” or that they are “a qualified alien or nonimmigrant lawfully present in the U.S. and providing the
applicant’s alien number.” Additional information above the SAVE Program can be found at www.uscis.gov. Copy of government issued ID -The state law provides a listing of acceptable documents to authenticate an applicant’s immigration status to meet the SAVE Program requirements. Please refer to the listing of secure and verifiable documents at http://www.atlantaga.gov/modules/showdocument.aspx?docume ntid=12147 .
Regulatory Permits - If applicable, certain business categories require regulatory permits or approvals before a license may be granted. Prior to processing a new business license application, regulatory permits must be obtained by the appropriate agencies. Please refer to the regulatory permit directory located at http://www.atlantaga.gov/index.aspx?page=993 for guidance. Please note that this directory is not all inclusive.
Federal Employer ID Number - An Employer Identification Number (EIN) is also known as a Federal Tax Identification
Number, and is used to identify a business entity. Generally, businesses need an EIN. You may apply for an EIN at www.irs.gov . Georgia Taxpayer ID Number - The State Taxpayer Identification Number (STIN) is a number assigned by the Georgia Department of Revenue to every business that registers for a tax specific identification number, permit, or license. Each registration for a particular business is housed under its STIN. The Department uses the STIN to reference taxpayer account information, as well as to establish liabilities and credits. If you need registration information, contact Registration and Licensing at 1-877-GADOR11 (1-877-423-6711) or via e-mail to ctaxreg@dor.ga.gov.
Registration information is also available at www.georgia.gov . Secretary of State Control Number - Business corporations, nonprofit corporations, professional corporations, limited partnerships (LP), and limited liability companies (LLC), are
formed in Georgia by filing with the Corporations Division of the Office of Secretary of State. In some instances, the above entities that form in other states choose to file with the Georgia Secretary of State as foreign entities. A control number is assigned to the business upon successful completion of the registration process. Registration information is available at www.sos.ga.gov . ALL BUSINESSES MUST RENEW THEIR BUSINESS LICENSE BY FEBRUARY 15 OF EACH YEAR. A.2 TRADEMARK LICENSE AGREEMENT This TRADEMARK LICENSE AGREEMENT (this “ Agreement ”) is made and effective as of March , 2007 (the “ Effective Date ”), by and between PennantPark Investment Advisers, LLC a Delaware limited liability company (the “ Licensor ” or “ Adviser ”), and PennantPark Investment Corporation, a corporation organized under the laws of the State of Maryland (“ Corporation ”) (each a “ party ,” and collectively, the “ parties ”). RECITALS
WHEREAS, Adviser is the owner of the trade name “PENNANTPARK” (the “ Licensed Mark ”) and has filed an application to register the mark in the United States of America (the “Territory”) for investment management, investment consultation and investment advisory services. WHEREAS, Corporation is a newly organized closedend management investment company that has filed notice with the Securities and Exchange Commission that it intends to elect to be treated as a business development company under the Investment Company Act of 1940 (the “1940 Act”); WHEREAS, the Corporation is entering into an investment advisory and management agreement with Adviser (the “ Advisory Agreement ”), wherein Corporation will engage Adviser to act as the investment adviser to the Corporation; and WHEREAS, Corporation desires to use the Licensed Mark in connection with the operation of its business, and Adviser is willing to permit Corporation to use the Licensed Mark, subject to the terms and conditions of this Agreement. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: ARTICLE 1. LICENSE GRANT 1.1. License . Subject to the terms and conditions of this Agreement, Adviser hereby grants to Corporation, and Corporation hereby accepts from Adviser, a personal, nonexclusive, royaltyfree right and license to use the Licensed Mark solely and exclusively as an element of Corporation’s own corporate name and in connection with marketing the investment management, investment consultation and investment advisory services that Adviser may provide to Corporation. During the term of this Agreement, Corporation shall use the Licensed Mark only to the extent permitted under this License, and except as provided above, neither Corporation nor any affiliate, owner, director, officer, employee, or agent thereof shall otherwise use the Licensed Mark or any derivative thereof in the Territory without the prior express written consent of Adviser in its sole and absolute discretion and shall not use the Licensed Mark for any purpose outside the Territory. All rights not expressly granted to Corporation hereunder shall remain the exclusive property of Adviser.
1.2. Licensor’s Use . Nothing in this Agreement shall preclude Licensor or any of its successors or assigns from using or permitting other entities to use the Licensed Mark, whether or not such entity directly or indirectly competes or conflicts with Corporation’s business in any manner.
ARTICLE 2. OWNERSHIP 2.1. Ownership . Corporation acknowledges and agrees that Adviser is the owner of all right, title, and interest in and to the Licensed Mark, and all such right, title and interest shall remain with the Adviser. Corporation shall not contest, dispute, challenge, oppose or seek to cancel Adviser’s right, title, and interest in and to the Licensed Mark. Corporation shall not prosecute any application for registration of the Licensed Mark, or seek to register the Licensed Mark as a domain name or part of any domain name. 2.2. Goodwill . Corporation acknowledges that Corporation shall not acquire any right, title, or interest in the Licensed Mark by virtue of this Agreement other than the license granted hereunder, and disclaims any such right, title, interest, or ownership. All goodwill and reputation generated by Corporation’s use of the Licensed Mark shall inure to the exclusive benefit of Adviser. Corporation shall not by any act or omission use the Licensed Mark in any manner that disparages or reflects adversely on Adviser or its business or reputation. Corporation shall not take any action that would interfere with or prejudice Adviser’s ownership or registration of the Licensed Mark, the validity of the Licensed Mark or the validity of the license granted by this Agreement. ARTICLE 3. COMPLIANCE 3.1. Quality Control . In order to preserve the inherent value of the Licensed Mark, Corporation agrees to use reasonable efforts to ensure that it maintains the quality of the Corporation’s business and the operation thereof equal to the standards prevailing in the operation of Adviser’s and Corporation’s business as of the date of this Agreement. Adviser shall oversee the quality of the services provided under the Licensed Mark by virtue of its role as investment adviser to the Corporation, and shall approve, prior to their use, all prospectuses, advertisements, and other materials upon which Corporation uses the Licensed Mark. The Corporation further agrees to use the Licensed Mark in accordance with such quality standards as may be reasonably established by Licensor and communicated to the Corporation from time to time in writing, or as may be agreed to by Licensor and the Corporation from time to time in writing. 3.2. Compliance With Laws . Corporation agrees that the business operated by it in connection with the Licensed Mark shall comply with all laws, rules, regulations and
requirements of any governmental body in the Territory or elsewhere as may be applicable to the operation, advertising and promotion of the business and shall notify Adviser of any action that must be taken by Corporation to comply with such law, rules, regulations or requirements.
3.3. Notification of Infringement . Each party shall immediately notify the other party and provide to the other party all relevant background facts upon becoming aware of (a) any registrations of, or applications for registration of, marks in the Territory that do or may conflict with any Licensed Mark, and (b) any infringements, imitations, or illegal use or misuse of the Licensed Mark in the Territory. Adviser shall have the exclusive right, but not the obligation, to prosecute, defend and/or settle in its sole discretion, all actions, proceedings and claims involving any Third Party Infringement or Third Party Claim, and to take any other action that it deems necessary or proper for the protection and preservation of its rights in the Licensed Mark. Corporation shall cooperate with Adviser in the prosecution, defense, or settlement of such actions, proceedings, or claims. ARTICLE 4. REPRESENTATIONS AND WARRANTIES 4.1. Corporation acknowledges that Adviser has applied for registration in the Territory of PENNANTPARK, that Adviser’s application for registration has not yet been examined or approved for registration, and that Corporation accepts this license on an “as is” basis. Corporation acknowledges that Adviser makes no explicit or implicit representation or warranty as to the registrability, validity, enforceability, or ownership of the Licensed Mark, or as to Corporation’s ability to use the Licensed Mark without infringing or otherwise violating the rights of others, and Adviser has no obligation to indemnify Corporation with respect to any claims arising from Corporation’s use of the Licensed Mark. 4.2. Mutual Representations . Each party hereby represents and warrants to the other party as follows: (a) Due Authorization . Such party is a corporation duly incorporated and in good standing as of the Effective Date, and the execution, delivery and performance of this Agreement by such party have been duly authorized by all necessary action on the part of such party. (b) Due Execution . This Agreement has been duly executed and delivered by such party and, with due authorization, execution and delivery by the other party, constitutes a legal, valid and binding obligation of such party, enforceable against such party in accordance with its terms. (c) No Conflict . Such party’s execution, delivery and performance of this Agreement do not: (i) violate, conflict with or result in the breach of any provision of the charter or bylaws (or similar organizational documents) of such party; (ii) conflict with or violate any
law or governmental order applicable to such party or any of its assets, properties or businesses; or (iii) conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment,
acceleration, suspension, revocation or cancellation of any contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement to which it is a party. ARTICLE 5. TERM AND TERMINATION 5.1. Term . This Agreement shall expire (a) upon expiration or termination of the Advisory Agreement; (b) if the Adviser ceases to serve as investment adviser to Corporation; (c) by Adviser or Corporation upon sixty (60) days’ written notice to the other party, or (d) by Adviser at any time in the event Corporation assigns or attempts to assign or sublicense this Agreement or any of Corporation’s rights or duties hereunder without the prior written consent of Adviser. 5.2. Upon Termination . Upon expiration or termination of this Agreement, all rights granted to Corporation under this Agreement with respect to the Licensed Mark shall cease, and Corporation shall immediately discontinue all use of the Licensed Mark. Corporation shall immediately change its corporate name by deleting the term “PENNANTPARK.” For twentyfour (24) months following termination of this Agreement, Corporation shall specify on all publicfacing materials in a prominent place and in prominent typeface that Corporation is no longer operating under the Licensed Mark and is no longer associated with Licensor. ARTICLE 6. MISCELLANEOUS 6.1. Assignment . Corporation will not sublicense, assign, pledge, grant or otherwise encumber or transfer to any third party all or any part of its rights or duties under this Agreement, in whole or in part, without the prior written consent from Adviser, which consent Adviser may grant or withhold in its sole and absolute discretion. Any purported transfer without such consent shall be void ab initio. 6.2. Independent Contractor . Except as expressly provided or authorized in the Advisory Agreement, neither party shall have, or shall represent that it has, any power, right or authority to bind the other party to any obligation or liability, or to assume or create any obligation or liability on behalf of the other party. 6.3. Notices . All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service (with signature required), by facsimile, or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses:
If to Adviser:
If to Corporation:
PennantPark Investment Advisers, LLC
PennantPark Investment Corporation
th 445 Park Avenue, 10 Floor
th 445 Park Avenue, 10 Floor
New York, NY 10022
New York, NY 10022
Tel. No.: (212) 3073280
Tel. No.: (212) 3073280
Fax No.: (212) 5153451
Fax No.: (212) 5153451
Attn: Chief Compliance Officer
Attn: Chief Compliance Officer
6.4. Governing Law . This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York . The parties unconditionally and irrevocably consent to the exclusive jurisdiction of the courts located in the State of New York and waive any objection with respect thereto, for the purpose of any action, suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. 6.5. Amendment . This Agreement may not be amended or modified except by an instrument in writing signed by each party hereto. 6.6. No Waiver . The failure of either party to enforce at any time for any period the provisions of or any rights deriving from this Agreement shall not be construed to be a waiver of such provisions or rights or the right of such party thereafter to enforce such provisions, and no waiver shall be binding unless executed in writing by all parties hereto. 6.7. Severability . If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 6.8. Headings . The descriptive headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement.
6.9. Counterparts . This Agreement may be executed in one or more counterparts, each of which when executed shall be deemed to be an original instrument and all of which taken together shall constitute one and the same agreement. 6.10. Entire Agreement . This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between the parties with respect to such subject matter.
6.11. Third party Beneficiaries . Nothing in this Agreement, either express or implied, is intended to or shall confer upon any third party any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. IN WITNESS WHEREOF, each party has caused this Agreement to be executed as of the Effective Date by its duly authorized officer.
ADVISER:
PENNANTPARK INVESTMENT ADVISERS, LLC By:
Nam
/s/ Arthur H. Penn Arthur H. Penn
e:
Title:
Manager CORPORATION:
PENNANTPARK INVESTMENT CORPORATION By:
Nam
Arthur H. Penn
e:
Title:
A.3
/s/ Arthur H. Penn
Chief Executive Officer
A.4
A.5 Communication Plan Marketing communication for Bape Popup, An urban streetwear apparel store Audience: Urban streetwear savvy young men and Women, Strategy: Because we anticipate that our customer will be young men with and interest in fashion and streetwear. Our message will be similar on each, but tailored as follows: ● ● ●
We will use instagram to show our audience new products weekly and styling option as a way to entice the customer to come into the store Twitter will be used to connect to customer, answer question, and announce new merchandise. Our online website will be used to give quick information as in: Where the store is located? Store Hours? Parking? etc
Future formats: In terms of Future formats, we could have an ongoing newsletter, or blog, that customer can read and gain information on Projected effectiveness: We project that these will be effectiveness way to reach and close the gap between us and our customer, because of the level of attention we will be showing Closing: This document serves as a general guide to our online communications and may change depending on the business’s needs and focus.
A.6
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"What Are the Qualifications to Be a Manager at a Retail Store?" Work. Accessed November 16, 2015. http://work.chron.com/qualifications-manager-retail-store-8927.html. "Wish Atlanta Boutique WishATL.com." Wish Atlanta Boutique WishATL.com. Accessed November 16, 2015. http://wishatl.com. "About opening Ceremony." Opening Ceremony. Accessed November 16, 2015. https://www.openingceremony.us/about/oc.