NO PLAGIARISM, answer all questions.
The objective of this project is to create a business plan for a retail business that you plan to open in the future. The business could be any retail operation (e.g., clothing store, nail salon, restaurant). The project will cover the following topics and you will source information from several primary and secondary sources:
Executive summary
Description of store concept and target market
o Environmental trends supporting store concept
o Industry outlook (present and future) that justifies opening the type of store
o Target market description
Site selection
o Rationale
o Discuss visibility, accessibility, competing businesses in surrounding areas etc
Competitive analysis
o Direct and indirect competitors
o Strengths and weakness of competitors
o Strategies for proposed store to deal with competition
Merchandise Management
o Merchandise offering rationale (variety, assortment)
Promotion
o Rationale for promotional activities consistent with store concept
o Traditional promotions and digital promotions
o Estimate of promotional cost and how it was reached
Staffing and store hours
o Number of employees consistent with store’s service goals
o Employee duties consistent with store concept
o Estimate of payroll and payroll taxes correctly computed
Model stock, fixtures and store layout
o List of inventory
o Number and type of fixtures/displays selected for store
o Estimate of fixture/equipment costs provided and documented
o Store layout diagram reflecting consumer behavior and operational/security needs
o Estimate of cost of space provided and documented
Regulations and Licenses
o All state, county, and local licenses required for the store
o An estimate for each required license
Financial calculations
o BEP calculation
o All operating expenses on P&L
o Estimate of capital requirements
& Overall conclusion
