Therefore the strategies we intend to deploy in promoting and advertising the davica fashion Design llc are; Throw a large fashion themed party in order to create awareness about our fashion design business Engage in community activities and sponsor relevant programs Create a website that. Normally the prices for our fashion design wears depend on the type of clientele. Determining the prices for any product or service depends on several other factors such as what the competitors are offering, what our overheads are, and how much we are getting our raw materials for. However, in order to attract the right customers to our fashion design business, we intend to lower the prices for the first 6 months and also give some well known celebrities some of our unique designs to wear for free in order to help with. However, having carefully looked through our strategies, we are pretty sure that our profit margins for the months we intend to lower our prices and offer discounts will not really be affected. Payment Options Because we intend to have a whole lot of customers, we at davica fashion Design Business have come up with different payment options so as to suit the different styles and preferences of our customers. Therefore, the payment options that we intend to make to all our customers are; payment via cash payment via check payment via credit card payment via point of Sale (POS) Machine payment via online payment portal The above payment options that we have chosen are.
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Asides from generating revenue and ensuring that one can compete favorably against its competitors, marketing is also used to create awareness for the business for existing and potential customers. This is why marketing is an aspect of the business that should be taken seriously as paper poor strategies could lead to failure of the business or dwindling sales due to poor efforts of the marketing team in increasing awareness and invariably sales on behalf. Due to this, we have secured the help of a reputable marketing consultant here in Midtown Manhattan new York who not only understand the business but the whole fashion industry and will also help in drafting effective marketing strategies that would be needed to penetrate. We have also empowered our marketing executives to ensure that they ensure that right strategies are drafted on behalf of the company and in line with our core ethics and values. The marketing and sales team also has the power to modify or eliminate strategies that are deemed not to be working on behalf of the company. Therefore, the strategies we intend to adopt while marketing our services at davica tag fashion Design llc are; Ensure that we introduce our fashion design business to fashion houses, large scale magazine editors as well as other stakeholders in the industry here in Midtown Manhattan new. Any business that does not take its publicity seriously will likely die or not make it in business. We therefore intend to ensure that we intensify publicity for our businesses in order to increase awareness for our products as well as promote davica fashion Design llc, positively. We intend to hire a brand consultant who is reputable and has the knowledge regarding this industry to help us draft the right strategies that would promote our fashion design business and also increase awareness for us with our clients both existing and potential. The strategies will also be one that identifies with our core values and principles as a business.
Therefore, we intend to generate income for davica fashion Design llc by offering the following services; Sale of fashion design wears for certain ages and sexes Sale of fashion accessories Consultancy yardage and advisory services Trainings Sales Forecast The fashion industry is one that will always. New York is one of the cities that is regarded as a fashion hub, therefore our location in Midtown manhattan is very strategic and will offer us the right opportunity at ensuring that we not only generate our revenue but that we start to make. In carrying out a sales forecast for the company, we have been able to critically evaluate the fashion industry in order to understand how we would likely fare once our business starts. The various data gotten from the feasibility study were based on data and information that was gleaned from similar start-ups such as ours here in Midtown Manhattan new York. Below therefore is the sales projection that was conducted for davica fashion Design llc; First Fiscal year-: 270,000 Second Fiscal year-: 450,000 Third Fiscal year-: 900,000. B : It should be noted that the above projections were conducted based on several factors such as there would no arrival of competitor during the time of the projections, as well as the fact that people would continue to love our brand. Should there be any change in the factors, it would lead to an increase or decrease in the figures. Marketing Strategy and Sales Strategy marketing is very important and so it is therefore pertinent that the right marketing strategies are drafted in order to achieve the desired results. However to be able to draft the right marketing strategies, we have conducted a thorough market research that will allow us not only understand the industry, but also ensure that we penetrate the market and attract the number of customers that we should with our.
From the result of our marketing strategy, we would be engaging in our fashion design business in order to cater to the following group of people; Music and movie celebrities Business people models Men and female adults young adults movie producers Fashion houses Retail stores. We intend to offer only the best to our target market by conducting a research to know what our existing and intending clients wants and ensure that we not only meet but surpass their expectation. We intend to ensure that we hire professionals and competent employees who do not only understand the industry but are also committed to our organizational cores and values and are committed to ensuring that we reach our desired goals and objectives. We will also pay our employees very well as we would ensure that their welfare packages are the best that can be gotten amongst similar fashion design businesses both here in Midtown Manhattan new York as well as all over the United statement States of America. Lastly, we intend to offer the best customer care for our various customers and ensure that all our customer care executives have updated knowledge about industry trends so as to use this knowledge to better serve and ensure that our customers get what they want. Fashion Design Business Plan sales and marketing strategy sources of Income davica fashion Design llc is a fashion design business that has been established with the aim of generating revenue and making profit in the fashion industry in the United States of America. We intend to ensure that we offer various in order to meet the various needs of our customers.
However, this does not mean that you do everything yourself, as most fashion design businesses usually hire a chief executive officer to handle the administrative affairs so that the owners can focus on fashion designing. Finally, fashion designing in the real business world is different from that learnt in school. Starting and running a fashion design business would mean you developing and ensuring you follow a creative process that is organized, which is why most entrepreneurs looking to start their own business usually work as interns in larger fashion houses so as to be able. Another option when starting this business especially if you are just skilled in fashion designing is to find a partner that is skilled in business in order to help manage the business part of the business. Our Target Market The fashion industry is one where there are various range of available customers of both sexes and ages. However, we do not intend to design clothes for everyone as we intend to choose our market segment in the target market. However, to help us know the right clients we intend for our business and also know what it is they expect from us, especially as regards our location here in Midtown Manhattan new York; we intend to conduct a thorough market research that would allow.
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Weaknesses There are certain factors which we have perceived as weaknesses to our business and that is the fact that we are located in a fashion hub as New York, especially as Manhattan is one of the hottest fashion hubs. Also, the industry is a bit saturated as there are enough fashion design businesses in and around New York. Opportunities There are several opportunities that abound for our fashion design school such as ability to showcase our designs to the world through fashion shows and pageantries as well as celebrity endorsement. Also, the internet is offering us vast opportunities that will enable us showcase our designs to clients in far locations. Threats While the fashion industry might seem fun and glamorous, there are threats that the industry faces every now and then and as a business we are well prepared to meet any threats we might face during start up and whilst running the business. Some of the threats we are likely to face are scarcity of the raw materials, unreliable vendors as well as arrival of more competitors med into the market. We have however laid the right strategies that will ensure that we surmount any challenges that we are likely to face during the course of starting or running the business.
Fashion Design Business Plan market analysis market Trends The fashion industry is a glamorous and fun industry that is competitive in nature. Running a fashion design business is time consuming and most fashion design businesses usually fail because the entrepreneurs do not have the wherewithal to be creative and run the business at the same time. This is because any entrepreneur starting this business usually spends less time designing, and more time managing production, dealing with suppliers, sending clothes to magazines, and managing the employees in-between. It usually takes an entrepreneur who has been into the business before to be able to successfully handle the business. This kind of business is one that requires endurance and tenacity because this is a hyper competitive and complex industry, in which any start-up business can have suppliers and customers in the short period of time of starting the business. Which is why to succeed in this industry you would need to be committed first as the chief executive officer before being a fashion designer.
In order to ensure that we set up and run a standard fashion design business here in Midtown manhattan new York, we intend to get it right from the beginning by ensuring that we build a business structure that is in line with our core. As such, we intend to ensure that we hire the right employees who are hardworking and competent and who not only understand the industry thoroughly but also the business and our core values and principles and will therefore ensure that we get to the attained. Also, since we intend to offer a wide range of services for our fashion design business, we will need to employ several employees who now and understand each task they are to handle. We also will pay our employees very well and ensure that they are well trained in order to be able to handle the different and increasing responsibilities assigned to them. Therefore, the business structure we intend to build at davica fashion Design llc is; Chief Executive officer, fashion Manager, human Resources and Admin Manager, purchasing Manager.
Inventory manager, marketing and Sales Executives, accountants/Cashiers. Customer Service Executives, cleaner, driver, roles and Responsibilities Chief Executive officer In charge of making strategic decisions that would affect the overall direction of the company liaises with high end clients on behalf of the organization. Ensures that company policies are reviewed to remove or modify those that arent working Fashion Manager In charge of creative designs by the company liaises with magazine editors, other fashion managers, organizers of pageants and catwalk on behalf of the company remains updated about industry. In looking critically at our business concept, the business consultant used the popular swot (strengths, weaknesses, opportunities and threats) analysis to determine how suitable we were for the industry. Below is the result of the swot analysis that was conducted on behalf of davica fashion Design llc; Strengths Our strength lies in the fact that we create unique designs for our various clients to meet their tastes and preferences, as well as other fashion. Our several marketing and publicity strategies are already enabling us stand out from the others in the industry. Also, we have hired competent employees who are not only professionals but have the necessary expertise to enable us meet our intended goals and objectives. Also, our owners, david Kork and vivica sox have the right amount of fashion and business experience needed to ensure that davica fashion Design llc become the brand leaders it intends.
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We intend to ensure that we create multiple sources of income that will be in line with our core service; these other services might be intangible in nature and include services such as trainings and consultancy services. Our intention of creating multiple sources of income is so that we would be able to boost the bottom line of our business as is permissible under the laws of the United States of America. Therefore, some of the products and services we intend to offer are; Sale of fashion design wears for certain ages and sexes. Sale of fashion accessories, consultancy and advisory services, trainings. Our Vision Statement, our vision is to intrigue our clients with our fashion pieces while identifying with the uniqueness in each of our clients. We also intend to become a worldwide brand name in the year 2023 here in Midtown Manhattan new York. Our Mission Statement, in order to achieve our vision, we have write laid down procedures that would ensure that most of our target market is aware of our products. We also have competent and professional employees that would ensure that that our vision is actualized.
We therefore are in business in order to generate revenue, make profit whilst also favorably competing with other leading brands in the fashion design industry in seven years time. Our location in Midtown Manhattan new York is a very strategic one as we are located in the hub of the fashion industry and with the right strategies and plans that we have in place, we are sure of meeting, achieving and exceeding our desired. Our publicity strategies are top notch as we have hired the services of a brand consultant to help us draft the strategies that will make us stand out from similar fashion design businesses in the industry. Our intention of achieving this vision is in going the extra mile to hire the right management team that understands our core vision and principles as a business and willing to ensure that these values are clearly communicated and implemented by the non-management staff. We intend to build a solid business structure by ensuring that we hire professional and competent employees that understand the business and industry thoroughly and are also committed to seeing that we achieve our intended goal through increased productivity. Seeing as technology has come to stay, we will be deploying the right technology that will help us become efficient in producing the right designs, while also getting the right and recent equipment are procured for use in increasing productivity. Finally, our owners, david Kork and vivica sox have the right amount of fashion and business experience needed to ensure that davica fashion Design llc become the brand leaders it intends. David is a creative fashion designer and has been producing designs for 5 years, while vivica has more experience in management and will be in charge of making decisions big that will have an effect on the business, she has over 10 years experience in management. Our Products and Services, at davica fashion Design llc, we intend to ensure that we deal in all forms of unique fashion designs and accessories in our primary location here in Midtown Manhattan new York.
brand labels. The city is also one that has a high number of retail outlets that are of high end. There are various upcoming trends that is likely to affect the fashion design industry and might influence employment in this industry and they include; improved use of the internet for online shopping by customers, continued use of cheap labors and consolidation of businesses in the. According to the bureau of Labor (BLS) Statistics, as at 2014, one in about four fashion designers owned their own businesses, and was able to set up their own independent clothing lines. Employment in the fashion design industry was projected to grow at last till 2024 on that same percentage which was deemed slower than the average compared to most other industries. Fashion Design Business Plan Executive summary. Davica fashion Design llc is established to intrigue our clients with our fashion pieces while also identifying with the uniqueness in each of our clients. Our aim is to become a worldwide brand name in the 2023 here in Midtown Manhattan new York.
While the fashion design business might seem glamorous, It is also a competitive business and so if you intend starting this kind of business, you would need to hire a business consultant who understands the industry thoroughly in order to take a look at your. Also, before starting this business it literature is vital that you write out a business plan that is comprehensive in nature. There are two ways at ensuring that you get a business plan that is comprehensive enough to show your investors your seriousness and this is either hiring a business plan writer to write one for you or going online to get a free fashion design. Below is a sample of one; Business overview, the fashion design industry has no companies with a dominant market share in the industry. The industry is one that has generated revenue of 2 billion with an annual growth.2 for between the periods of 2011 to 2016. . In the United States of America, there are more than 19,000 fashion designer businesses employing nearly 27,000 people. The fashion design industry is one that has trended toward growth in the last years between 20This is due to the fact that designers in order to appeal to large section of their target market have started closing the gap between style and value. The industry is still projected to grow between the periods of 2017 to 2022, and the revenue in this industry will grow too depending on increasing consumer confidence and the rising per capita disposable income.
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Are you about starting a fashion design company? If yes, here is a complete sample fashion design business plan template feasibility report you can use for free. Okay, so we have considered all the requirements for starting a fashion design company. We also took it further by analyzing and drafting a sample fashion design marketing plan template backed up by actionable guerrilla marketing ideas for fashion design companies. So lets proceed to the business planning section. Why Start a fashion Design Business? Fashion is one aspect that cannot be done without especially in an age where different age groups all have a large percentage of them that are geared to fashion. A fashion design business is a business for entrepreneurs who are creative writing and enterprising in nature. These individuals understand the fashion world such as the importance of texture, color, and shape in varied clothing as well as the business of ensuring that this creativity yields revenue and eventually profit.