bethvettersprofessionalportfolio.files.wordpress.com… · Web viewThis is an assignment for a technical writing class taken at UTSA during the fall 2014 semester. The assignment

Startup PlanCocktail Hour

Beth Vetters10/20/2014

Beth Vetters Startup Plan

Table of Contents

Introduction…………………………………………………………………………….3

Funding Plan……………………………………………………………………………4

Setup Plan……………………………………………………………………………….7

Marketing Plan……………………………………………………………...........10

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IntroductionThis is an assignment for a technical writing class taken at UTSA during the fall 2014

semester. The assignment is an example of a formal startup plan report. The report includes funding, setup and marketing plans for the boutique chain Cocktail Hour.

Cocktail Hour is a boutique chain that features cocktail and formal dresses and accessories from a variety of high-end brands. The boutiques specialize in creating a personal and memorable client experience. Our staff of highly trained stylists are experts in dressing women and making them look and feel amazing. They are trained to know what looks good on each body type. They are also educated on the latest fashion trends and styles. With the assistance of our stylists clients will look sharp and on point for whatever event they are attending. Every client that comes into Cocktail Hour will leave feeling her absolute best.

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Funding PlanIn this section, we will describe what steps we must take and what items we must attain in order for Cocktail Hour to receive funding.

1. Hire a Business ConsultantBeth Vetters will be in charge of hiring a business consultant. The consultant will assist the partners in obtaining funding for the boutique and assist in the running of the boutique. We will pay the consultant $40,000 per year.

2. Locate a Capital FirmWe will need to find several capital firms that would be interested in investing in Cocktail Hour. David Ericson will research different firms and locate several that could possibly invest in the company. It will take three days to locate capital firms. It will not cost anything.

3. Call the Capital FirmDavid Ericson will contact the firms. He will explain the ideas and mission of Cocktail Hour and explain the investment opportunity. During the call he will set up a meeting between the partners of Cocktail Hour and the members of the Capital Firm. This will not cost anything. Figures one is the logo of a potential capital investor.

Figure 1. Cerberus Capital Management Logo. Cerberus Management. New York, New York. 2014.

4. Write Business PlanWe will need to create a plan that investors will find attractive. Beth Vetters will draft the plan and all partners will review it. This will require four weeks. It will cost nothing.

5. Edit Business PlanCocktail Hour will require the service of an editor to review the text for completeness, consistency, and correctness. David Ericson will hire the editor. We will pay the editor $750.00.

6. Meet with an Accountant We will need to meet with an accountant to make sure that the financial aspect of our business plan is plausible and attainable. David Ericson will meet with the accountant to analyze and revise the financial aspects of the proposed business plan. We will pay the accountant $450.00.

7. Organize a Presentation

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All Cocktail Hour partners will need to meet and put together a clear and concise presentation of our boutique to present to capital firms. The presentation needs to clearly state the mission and purpose of Cocktail Hour. It also needs to be attractive to the potential investors. Preparing and organizing the presentation will not cost anything.

8. Present the Business PlanWe will need to present the edited business plan to potential investors and capital firms. Beth Vetters will be in charge of presenting the plan for the business. Patricia Golden will also be present at all meetings and presentations to assist with the pitch. It will take four to five weeks to meet with all of the firms and will cost no money.

9. Negotiate with Capital FirmAfter the presentation of the business plan David Ericson will meet with the capital firms that a interested in investing. He will negotiate the terms and conditions of their investment. The negotiating process will not cost any money.

10.Negotiate a ContractAfter negotiating with the firm we need to create a contract between the Cocktail Hour partners and the capital firm. David Ericson will be in charge of looking over and approving the funding contract. This process will take five days and will not cost any money.

11. Obtain Documents to Apply for a Bank LoanWe will need to apply for a business loan in order to receive additional funding. Beth Vetters will obtain the documents needed in order to apply for the loan. These documents include the credit histories of each Cocktail Hour partner and financial projections for the first year of the boutique. It will take two weeks to obtain the documents and will cost $250.

12. Write a Loan ProposalDavid Ericson will be in charge of drafting a loan proposal. This proposal will explain why we need a loan and what it will be used for. The proposal will also include the amount that we are asking to receive. Writing the proposal will not cost anything.

13. Fill Out Required SBA FormsDavid Ericson will fill out and file an SBA Form 4. This form states what type of business loan we are trying to obtain and what we will be using the loan for.He will also fill out and file an SBA Form 413. This form requires the financial statements of all partners in the company. It will not cost anything to fill out and file the required forms.

14.Apply for a LoanAfter all forms are complete, David Ericson will meet with a business loans representative and review all of the required documents and forms. This meeting will help to ensure that everything is in order for the bank loan. We will pay the

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representative $350 for the consultation. The loan application process will take three weeks.

15.Submit the Loan ApplicationOnce all of the paperwork is correct we will submit the application for a small business loan. David Ericson will be in charge of submitting the application. It will cost $400 for all the fees required for the loan. After the loan is submitted it will take sixty to ninety days to receive a response.

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Setup Plan In this section, we will describe the events necessary to setup Cocktail Hour. We will explain what items we must acquired to get the store ready for clients and what steps need to be taken in order for Cocktail Hour to open.

1. Hire an Agent to Find a LocationWe will need to hire a real estate agent to find a proper location for our first boutique. The agent needs to be familiar with the high-end district of Dallas, Texas. Beth Vetters will hire the agent. We will pay the agent 6% of the purchase price of the property. It will take a day to hire an agent.

2. Tour PropertiesWe must tour several properties in order to find the perfect location. Beth Vetters and David Ericson will tour the properties with the real estate agent. It will take approximately three weeks in order to find the proper location. In this time we will conduct initial tours, narrow down our options and do a final walk through before selecting a property. Touring properties will not cost any money.

3. Negotiate a LeaseOnce a property is found we need to negotiate a lease with the property owner. A two to three year lease is ideal for the boutique. David Ericson will be representing the brand through the negotiating process. Negotiating with the property owner and agreeing on terms and conditions will take one week. This will not cost any money.

4. Hire an Interior Design FirmAn Interior Design team needs to be hired in order to furnish the boutique. The design team will be in charge of helping create an overall theme for the interior that matches the overall brand message. Patricia Golden will hire the design firm. We will pay the firm $250 an hour.

5. Meet with the Design Firm and Discuss the BrandAfter the design firm is hired, Patricia Golden will meet with the firm to discuss the Cocktail Hour brand. At the meeting they will discuss what type of experience Cocktail Hour wants to provide each customer. They will decide what type of environment Cocktail Hour intends to be and what overall style will be featured in the boutique. The cost of the meeting will follow the hourly rate of the design firm ($250 per hour).

6. Purchase Furniture and FixturesFurniture needs to be purchased once the style of the boutique is determined. Figure 2 shows an example of what the boutique will look like. The furniture purchased will consist of couches for the shoe section, benches and chairs for each

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fitting room and multiple types of lighting fixtures. Patricia Golden will meet with a design firm representative in order to purchase all of the furniture and fixtures. Purchasing the items will take four weeks. The total cost of all of the furniture will be approximately $50,000.

Figure 2. Mock Setup of the Interior of Cocktail Hour. Robert Majkut. London, England. 2012.

7. Meet with Brand Representatives Patricia Golden will meet with several different retail brands to decide what items will be sold in the boutique. We will meet with representatives and buyers from brands such as Kate Spade, Dianne Von Furstenberg, Michael Kors, Channel, Jimmy Choo, Vince Camuto, Fendi, and Prada. These meetings will take place over the course of six weeks. These meetings will not cost any money.

8. Meet to Discuss MerchandiseAfter we have met with each buyer, Beth Vetters and Patricia Golden will meet to discuss each potential brand. They will decide what brands and pieces are appropriate for the boutique. This meeting will take place the day after the buyer meetings conclude. This meeting will not cost any money.

9. Order MerchandiseAll of the merchandise for the boutique will be ordered and purchased by Patricia Golden. In order to do this, she will meet with each brand representative a second time and will order the merchandise with each individual buyer. The total cost of all of the merchandise purchased for the boutique is approximately $350,000. This process will take one week.

10.Arrange/Set the StoreBeth Vetters will meet with the interior design firm to discuss the arrangement and layout plan for the boutique. She will oversee the execution of this arrangement in the boutique. This process will take two days to complete. The cost will match the hourly rate of the interior design firm ($250 per hour).

11.Recruit StylistsBeth Vetters will be in charge of recruiting people to apply for employment at Cocktail Hour. She will do this by going to other retailers and talking to their

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employees. An advertisement for stylists will also be placed in several local newspapers and magazines. The recruiting process will take three to four weeks. It will cost $650 to place hiring advertisements.

12.Hire StylistsWe will need to hire ten to twelve stylists to run the first boutique. It will take two months in order to hire a full staff of stylists. Each stylist will be paid hourly. Their hourly rate will be based on their experience in the field. The starting rates range from $10 to $14. Beth Vetters will also hire two full-time head stylists. The head stylists will serve as the store manager and co-manager of the boutique. The positions will be salary based. The salary of the store-manager will be $35,000 per year. The salary of the co-manager will be $29,000 per year.

13.Educate Stylists on Fashion Trends and StylingStylists will need to be educated on basic fashion trends. They will need to be taught how to communicate with clients and how to properly style them. Beth Vetters will be in charge of educating the stylists. She will hold a series of ten classes to teach the stylists how to properly do their job. These classes will be staggered over a three week period. Booklets will be provided to each stylist during the classes. These booklets contain basic style tips and a section on how to style each common body type. The cost of these booklets will be $750.

14.Hold Practice Styling Sessions with StylistsAfter the initial styling sessions, Beth Vetters will hold practice styling sessions with each new stylist. At the sessions the stylists will show what they have learned at the styling classes. They will be assessed on how well they style the practice clients at the sessions. This will take two days and will not cost any money.

15.Train Stylists on Registers/OperationsBeth Vetters will train the store and co-managers on the registers at the boutique and how to conduct basic operations such as placing orders, purchasing supplies for the store and how to properly handle the cash. The managers will then be in charge of passing on this information to the stylists. Operations training will take one week. This process will not cost any money.

Marketing Plan

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Market Needs In the retail market, clients need clothing that will be suitable and appropriate for different types of events. They need to be able to find pieces that they can mix and match with their existing wardrobe in order to create cohesive outfits. They need to have a variety of clothing options available to them at all times. They want to be able to easily and conveniently find the perfect piece or outfit for their particular style.

Prospects/Customers

The target Cocktail Hour client is a business woman who has a busy work life and a full social calendar. Her age ranges from the late 20s to late 60s. She has a median income of approximately $250,000+. She needs her shopping experience to be simple and convenient. It should be a time of relaxation for her in the midst of her full schedule. She is looking for outfits to wear to an important dinner with her boss, a night out with clients or an elegant night on the town. Her style is classic and refined. However, for some occasions she does like to be trendy and incorporate more edgy pieces into her wardrobe.

Product

At Cocktail Hour our number one goal is to give each client an unforgettable experience. We want our name to be synonymous with excellent customer service. Cocktail Hour clients don’t just find an amazing outfit each time they come in, but they also receive a one of a kind experience. Our stylists help clients find high quality, brand name outfits that perfectly fit their body type and style. The stylists create outfits specifically for each clients wants and needs.

In this section we will describe the events necessary to properly market Cocktail Hour. We will describe different marketing techniques and steps must take in the marketing process to make Cocktail Hour successful.

1. Hire a Brand ConsultantPatricia Golden will hire a brand consultant to help the partners identify the message that the boutique wants to send to clients. The consultant will give input on what type of marketing will be most effective for the brand. We will pay the consultant $6,000.

2. Meet with Advertising Agency To begin the marketing campaign all of the partners will meet with the Walker Inc. marketing agency. At the meeting we will discuss the style of the boutique and what types of marketing we want to pursue. Walker Inc. is a Cocktail Hour partner. The meeting will not cost any money.

3. Hire a Graphic Designer We will hire a graphic designer to create a logo for the boutique chain. The logo needs to be slick and simple. Figure 3 is an example of the Cocktail Hour logo.

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Patricia Golden will hire the graphic designer. It will take two weeks to create a logo for the company. We will pay the designer $1,500.

Cocktail HourFigure 3. Cocktail Hour Logo. Beth Vetters. San Antonio, Texas. 2014.

4. Create Business CardsThe graphic designer will also create business cards for each stylist and partner of Cocktail Hour. Patricia Golden will approve the design of the business cards. We will pay the designer $900 for the card design. It will take one week to design the cards.

5. Print Business CardsPatricia Golden will take the business card design to a printing company to be printed. One hundred cards will be printed for each stylist. It will take three days to print the cards. It will cost $1800.

6. Create Print AdvertisementsBeth Vetters will meet with Walker Inc. to review layouts and types of potential print advertisements for the boutique. They will choose which advertisements to present to local publications. It will take one week to create the print advertisements. It will not cost any money.

7. Meet with Local Magazines Beth Vetters and a representative from Walker Inc. will meet with several local publications. At the meetings they will discuss placing advertisements for Cocktail Hour in the magazines. The meetings will take place over the course of one week. Each advertisement will cost $475.

8. Meet with Local Radio StationsBeth Vetters and a representative from Walker Inc. will meet with several local radio stations. At the meetings they will discuss what type of advertisement the radio will play over the air and when the advertisements will be featured. The meetings will take place over the course of one week. Each spot on the radio will cost $250.

9. Write Radio AdvertisementsBeth Vetters will meet with representatives from Walker Inc. to oversee the writing of an advertisement to be recorded for radio. The meeting and writing process will take three days. It will not cost any money to write the advertisements.

10.Record AdvertisementA representative from Walker Inc. and Beth Vetters will meet with each radio station to record the advertisement. It will take two days to record with all the stations. It will not cost any money.

11. Create Flyers

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Patricia Golden will meet with our graphic designer to create an appealing and classy invitation that advertises the boutique and invites people to come into Cocktail Hour. It will take two days to create the invitation. We will pay the graphic designer $1,500.

12.Produce FlyersWe will take the invitation design to a printing company to have the invitations printed. Patricia Golden will oversee that it is produced properly. It will cost $3,000 to print 900 invitations.

13. Deliver/Send Out FlyersBeth Vetters will hand out invitations and business cards to potential clients. She will go to different businesses and corporations in Dallas and leave twenty-five to fifty cards. She will also mail out flyers to residents in the neighborhoods around the location of the boutique. It will cost $75 to mail out the invitations.

14. Create a Facebook PageBeth Vetters will create a Facebook Page for Cocktail Hour. It will include information about our basic operations and what the boutique is and what it stands for. The Facebook page will also be updated daily to feature daily fashion/styling tips and photos of outfits of the day. Creating the page will not cost any money.

15.List Cocktail Hour on Yahoo/GoogleBeth Vetters will create a profile for Cocktail Hour on Yahoo and Google. The profile will include a description of the boutique and pictures and prices of the merchandise. It will take two days to set up the various profiles. This will not cost any money.

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