Vintage clothing business has been a lucrative venture dealing with second hand garments. Research has shown that second hand women vintage has a tremendously high market across the globe in reference to other forms of clothing. This phenomenon makes it a worthwhile venture for entrepreneurs. In the case of Amsterdam, a supply gap for vintage clothing has been reveal, thus creating a golden opportunity to open a second hand vintage clothing retail store.
The mission of the vintage clothing business is to be the leading seller of second hand vintage clothing for women by ensuring a high sense of customer satisfaction. The issue of price and quality will be adequately addressed thus ensuring customers get the full worth of their money. The business culture and organizational relations are also projected to be favorable to all stakeholders thus boosting the business image (McAllister, 2011).
Attainment of a high market share of about 35% at the end of the first year of operation is the most outstanding objective of the business. In addition, the business is also projecting to realize time and cost efficiencies in its operations thus being able to enjoy high levels of profitability. From another perspective, the business will be focusing to attain market leadership by ensuring it gains a potential customer population of around2 million at the end of the first year of operation (McAllister, 2011).
Millennia vintage store will be a private limited company. This form of ownership is elected in order to ensure the mobilization of a higher level of capital. This is very essential in the business operations and success, as it will encourage efficiency and economies of scale in that the business will be able to efficiently undertake the various activities. For instance, the business will be able to undertake a comprehensive and intensive marketing campaign through the utilization of the ready capital (McAllister, 2011).
In order to effectively compete in the market, the concept of pricing strategy will be adequately addressed. In this case, the business will set affordable and competitive prices that will be able to meet the needs of the low income earners. The issue of quality will also be optimally addressed thus ensuring full customer satisfaction. The main target market of millennia vintage store is the population earning less than $ 2.50 a day. This is in relation to the fact that a majority of the population are within this income bracket. In order to ensure efficient implementation and control of the business strategy, a, efficient management team will be put in place. The organizational structure and human resources management will also be adequately addressed thus helping in realizing efficiency (McAllister, 2011).
Millennia vintage store will specialize in the sale of second hand vintage women clothing. The clothing will be for women of all ages both old and young. In this case, vintage clothing refers to second hand garments. The design and style of the clothing will be from previous eras and from a diversified cultural originality. The issue of quality will be the most outstanding feature of the clothes as a way of meeting the expectations of the customers. A point worth of consideration is that the quality of the products will not be compromised the lower prices being charged on the clothes. A brand name will also be adopted that will enable easy identification of all products under the store. This will ensure creation of good perception and loyalty among customers (McAllister, 2011).
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