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7/31/2019 Elegancia Final
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AJMAN UNIVERSITY OF SCIENCE AND TECHNOLOGY
Feasibility Studies & Project Evaluation
2nd
semester 2011 - 2012
Prepared by:
Tamim Mohammed Salem Altamimi - 200810169
Mahmoud Ali Hamze - 200911126
Ahmad Awad - 200810155
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Our plan is to hire the best professional employees to serve our valuable customers.
we intend to hire highly efficient employees. We will need two receptionist that
have good communication skills and can handle customers well. Also we will need
two professional tailors to repair damaged dresses.
There are three main competitors in our market, one is located in Sharjah and two
in Dubai.
To start such business, we will need two sewing machine and sewing threads also we
will need a special cabinet as a storage to keep them safe. we need specific lights
which would be powerful spot lights preferable white so it enhances the brightness
of the dresses, and we will need a special ironing and cleaning machines so dresses
won't be damaged.
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The customers we are targeting they are 18+, Females with a good income level and
living in the United Arab Emirates, mostly living in Dubai.
The difference between us and our competitors that our competitors charge a really
high prices as for us we are charging relatively low prices. One of the most important
questions that we should answer, why customers would choose our products?
Well it is simple question to answer because while we were asking the customers
what do u want for us and how we should run our business?, we found out that the
customers are looking for the perfect dress for their special day with a low price.
And that is our philosophy in running our business to get as much customers as we
can, and that is accomplished in charging lower prices than our competitors while
providing a better service and the latest designs.
The population in Jumierah area is about 26,499
Sub communities:
Jumierah 1 332
Jumierah 2 342
Jumierah 3 352
We are not expecting any sales for the first month for we will be only taking orders
for the following month due to our policies stating that a dress has to be ordered
one month before due date of the ceremony, Our sales for the next 11 months
varies according to the seasonality of our business and it differs from renting 3
dresses to 6 maximum per month
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We already identified our competitors and with our competitive prices we can
handle it easily as long as our competitors are not close to where we are going to
start our business at.
SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the
company, and describes the opportunities and threats facing Cranium Filament
Reductions.
STRENGTHS
Our prices are lower than our competitors. Our relationships with customers and our employees are well trained and have a
very good communication skills.
Our location is excellent. We are offering the latest designs from the best two designers in Dubai ( Michael
, Azra ).
WEAKNESSES We will be new in the market and it will take time to attract new customers.OPPORTUNITIES High and growing demand of wedding dresses and new styles and lower price. Large amount of population in Jumeirah. Old customers will attract new customers to our businessTHREATS
Competitors might offer lower prices than before. New investor might open in our area and affect our business and take our
customers if they offered lower prices than ours.
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Our business in very profitable business if we knew how to control it and keep our
customers as long as the weddings are increasing in U.A.E and people are willing to
rent instead of buying new one for a very high price and our business offer low price
and latest fashions which customers seeks for.
We will have a big board so the people will know that this type of business is running
in Jumierah and we have a parking lot enough for 10 cars
We will use the mobile SMS to reach our customers and we will have a shop display
outside also.
Attract new customers and keep existing ones Satisfying the customers is very important objectives Keep offering new designs for new customers and lower prices
From 9 am to 1 pm and from 4 to 10 pm
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This depends of our customers satisfaction and our reputation in the market and we
will intend to keep our customers satisfied before and after the renting process and
it will also generate for us new customers.
we will make sure that our customer service employees be kind to our customers
because it's important for our reputation, as well our tailors will be high experienced
to make our customers satisfied and be loyal to us.
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We are dealing with two fashion designers and we are going to purchase each dress
for the half of the price which is AED 25,000. We will offer dresses for rent with
lower prices than our competitors because they are charging AED 17,000 up to AED
25,000 for each dress for one day. The price will be AED 15,000 which (FIXED). and
we will charge extra AED 1,000 for any damages from the customers side.
For the first month we have no sales due to our policies which states that the dress
has to be reserved one month earlier
For the 2nd month we are expecting to rent 5 dresses for AED 15,000 each = 75,000
AED
3rd month we are expecting to rent 10 dresses for AED 15,000 = 150,000 AED
4th month we are expecting to rent 5 dresses for AED 15,000 = 75,000 AED
5th month we are expecting to rent 3 dresses for AED 15,000 = 45,000 AED
6th month we are expecting to rent 5 dresses for AED 15,000 = 75,000 AED
7th month we are expecting to rent 15 dresses for AED 15,000 = 225,000 AED
8th month we are expecting to rent 20 dresses for AED 15,000 = 300,000 AED
9th month we are expecting to rent 10 dresses for AED 15,000 = 150,000 AED
10th month we are expecting to rent 5 dresses for AED 15,000 = 75,000 AED
11th month we are expecting to rent 3 dresses for AED 15,000 = 45,000 AED
Total expected sales = 1,215,000
And for the last month of the year we are not going to rent any dress on that month
because we are going to make some maintenance, renewing for the shop, bringing
new designs for the next year, changing the price of the old dresses or sell them for
20,000 AED - 30,000 AED
and taking orders for the new year so we can have sales for January of the next year.
On April we are going to purchase two new dresses for 25,000 AED each.
On September we are going to purchase three more new dresses for 25,000 AED
each.
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At the begging our start-up cost will be AED 184,162
We will get two tailoring machines for AED 400 each and one cleaning machine for
AED 600 that a total of = 1,400
For the furniture we will need sofas, carpets and curtains, it will cost us AED 9,650
We will get a special cabinet for storing the dresses for AED 7,800
The outside sign will cost us AED 600
For the decoration, room decoration will cost us AED 1,500Spotlights for AED 500
Chandeliers for AED 1,000, a total of AED 3,000
Tools that will be used for our kind of business is:
Strings Needles Buttons Fabrics Scissors
with a total of AED 2,000
Starting inventory will cost us AED 150,000 and we are getting 6 dresses. the dresses will
cost AED 25,000 each.
Inventory supply will be a AED 100 for the delivery of the dresses for the retailer to our
gallery.
We will deposit a AED 1,000 for the electricity, gas and water.
The advertising will cost us AED 162 for messaging 900 contacts 0.18Fils per message.
The licenses will cost us AED 7,500.
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Total Estimated Start-up cost
=
Price Of The Dress ( Renting Price )
184,162
= 12.27 ~ 12 dresses
15,000
We should rent 12 dresses yearly
( IF WE CONSIDERED THE WHOLE COST AND EXPENSES )
Total Cost And Expenses = 22.63 ~
Price Of The Dress ( Renting Price )
339,586
= 22.63 ~ 23 dresses
15,000
We should rent 23 dresses yearly so we cover all our cost and expenses and
also it means that monthly we should rent 1.9 dresses which means 2
dresses minimum should be rented monthly
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We got (+30) it means that we are under the Yellow light and we should take care
because some things might be not taken into consideration.
We got (+45) it Also means Yellow light and we should take care but on both ways
we still have the choice to start the business because we are sure of its feasibility
and its profitability.
We got (+80) which is Green light and our business is feasible from money side and
our revenue side.
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