Saturation Inc.: Core Elements of a Business Plan
We aim to provide bespoke clothing, shirts to begin with, in a range of available fabrics, specifically tailored to the customer based on their measurements. It is a popular belief that men do not generally like buying clothes and tend to know what they want before venturing into retail outlets. If the requirement is for a white shirt then the decision has already been made and all that remains is to find a retail store that sells white shirts and make a purchase.
We intend to create a website that showcases shirts and ties together to help men expand their wardrobe with shirts that look good but more importantly are fitted to the body shape of the customer. Office based roles are the only roles that have increased in the last 40 years in NZ, an estimated 49% of the workforce. Taking into account the unemployment rate of 6% and assuming 50% of the workforce are male, we have a potential target market of 2’1 1 1 ‘500 potential shirt wearers! The business will be setup and run as a Limited Liability Company with 2 shareholders.
Simon Potter A seasoned professional sales person with several successful start ups under his belt. After moving to New Zealand in 2011 and gaining full residency in 2013 he began working with a web and software development company in Hamilton and became involved in the local business community, specifically around business coaching and mentoring.
Mean Lorene After a successful career working for a packaging company, Mean decided to stay in sales and shift his focus to the web and software world. Having his own business at 18 and successfully running a car rental franchise at 20 has given him a broad knowledge of business. And grows.
The core business however will be the delivery of bespoke shirts to men geed 18-45 in New Zealand. They will be manufactured overseas and delivered to NZ where they will be individually checked, packaged and delivered to the end user.
The service will be seamless and the customers appreciate the ‘exclusivity of receiving shirts that fit well, are individual in style and presented beautifully. Additionally the shirts will be more cost effective than an outright shop purchase, not even taking into account time, parking and perhaps settling for an acceptable shirt as oppose to an outstanding shirt. The basic service of bespoke shirts is not new.
There has been a rise over the last few ears of outlets in India and Asia that will make and send you a bespoke shirt, however there is still a reticence to purchase online from these suppliers for a number of reasons: Expensive delivery costs Transferring funds to international accounts and the associated charges Lengthy delivery times (Upton 6 weeks) Supplying credit card details Inability to guarantee the quality of the shirt or the fabric The website is usually sub-par which does not fill the customer with confidence We propose to remove those barriers to entry and make the purchase of the bespoke shirt(s): Cost effective
Easy to purchase Fast turnaround of around 2 weeks An easy to use website with the usual web security No quibble guarantee Customer testimonials to instill confidence An easy to use website that promotes the brand and values As the customer base grows we will begin to add more products and services as the cash flow allows, starting with matching ties, collar stiffeners and cufflinks, all branded with the Saturation Inc branding and logo.
We aim to create a brand that sits well with requirements of the target market while also building a loyalty to enable us to introduce new products with a high Earn a reputation as the supplier of choice for bespoke shirts in New margin. Zealand Ensure our costs remain low to allow us to earn profits from day one Achieve a customer base of 250 in the first year Achieve a net profit of $120’000 by year two and $250’000 by year three To ensure that we source ethically and give back to the local community by supporting ‘back to work initiatives.
The short term objectives are as follows: Month 1 Liaise with suppliers and agree prices for manufacturing of Shirts Packaging Month 2 Order test shirts using standard measuring instructions Obtain fabric ample and agree delivery timeliness Month 3 Begin website build and begin marketing the brand Month 4 Finalize photography for the website imagery and launch website Month 5 Implement aggressive Marketing Month 6 Take delivery of first orders and process Months 7-12 Increase product lines to include Collar Stiffeners Ties Cufflinks Gloves Bespoke suits Male fragrances washing liquid Months 13-36 Increase brand awareness throughout New Zealand Expand online presence into Australia including local distribution Years 3-5 Increase customer base and partner with complimentary companies offering lifestyle products, egg Triumph and Disaster The shirt is synonymous with smart and smart/casual style.
Our bespoke shirts will be offered with several options that will allow the customer to individualism each shirt including: Pock sets Cuff style Cuff material Collar style Collar material Placket fabric Pleats to ensure fit Each shirt will be checked for quality, folded and packaged to allow ease of delivery and to ensure that receiving the shirt is an ‘occasion’ and reinforces the brand identity of quality and individuality. Retail stores make up the vast majority of clothing purchases for men, however the inline market is improving with 70% of affluent males regularly shopping online (moneychangers. Com). Statistics show that the highest priority for men (64%) when choosing clothes is that they fit my style’ (delaine.
Mom) with the closest priority at 48% being a favorite store. Clearly being comfortable in the clothes they are wearing is key. There are other bespoke online shirt suppliers, however their website are generally slow, based in America or Asia, are generally not promoted as a brand, rather an offering and offer a bewilderingly large range of fabrics. The key for our site is to showcase the shirts in everyday settings yet still reflecting the individuality of the consumers. Helping the customers to expand their comfort zone by showcasing shirt and tie combinations that they perhaps wouldn’t usually choose will also increase impulse purchases and therefore turnover.
Product Supply We will initially be supplying the shirts from a single supplier in India that has an As the business becomes more confident in it’s offering we will look to expand the range of suppliers to add contingency and increase product offering, into tailored its and ancillary items (cuff links, collar stiffeners).
Sales and Marketing We will be launching locally to begin with by targeting friends, family and work colleagues to provide us with testimonials and feedback. We will be also using some of the early customers in our onsite branding to reduce costs and generate buy in from the early adopters. After we have perfected the sales and delivery process we will implement an aggressive Google Towards campaign that will target users searching specific keywords, as well as a Faceable campaign to build an online presence and a brand following. Creative guerrilla marketing tactics will be used to generate ‘chatter’ around the brand.
Branding Branding will be vitally important as the company gains momentum and customers.
The long term goal is to have a brand that defines a lifestyle and is an authority on style and fashion. The brand has to also define the man, therefore the web and advertising imagery will be vitally important. Men in shirts and ties in settings set out of place, in a surgical theatre holding a scalpel, in a go kart, skydiving, fishing etc. In keeping with the notion of an authority, we will promote videos on how to care for our shirt, iron it correctly, how to tie a range of tie knots, tie storage etc. All of this activity, especially on-line will increase brand awareness exponentially.