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Retail Management “Finder’s Keeper’s”

Samantha Grala

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Table of Contents

Facts …………………………………………………………………………… page 3

Company ……………………………………………………………………… page 4-5

Customer ………………………………………………………………………. page 6

Culture ………………………………………………………………………….. page 7-8

Completion ……………………………………………………………………. page 9-18

Industry Overview ………………………………………………......................page 19

Vision/Mission/ Shared Values ……………………………………………… page 20

Local Assessment ……………………………………………………………... page 21

Plan- o-gram ………………………………………………………………….....page 22

Layout ………………………………………………………………………….....page 23

Décor …………………………………………………………………………… page 23-26

Sales ……………………………………………………………………………... page 27-28

Budget ……………………………………………………………………………page 29

Management Style……………………………………………………………...page 30

Profit/Loss………………………………………………………………………….page 31

Events………………………………………………………………………………page 32

Detailed Events…………………………………………………………………..page 33-35

Value of a Customer…………………………………………………………….page 36

Human Resources………………………………………………………………..page 37-40

Store Guarantees/Policies………………………………………………………page 40

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Facts

-Vintage based accessories boutique specializing in vintage jewelry, scarves,

and handbags.

- Catering towards our unique customer who doesn’t fit the “cookie-cutter

mold”.

- Located in downtown Chicago.

- We do the hunt for you, “We find it, you keep it.”

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Company

Expanded Description of Company

A vintage accessories boutique, specializing in the hunt for one of a kind

treasures for our customers.

Our Products

Our store will carry a carefully selected array of vintage and vintage inspired

accessories, which will include, but is not limited to, jewelry, scarves and

handbags. Most of our vintage furniture display pieces will also be for sale.

Our Customer

Our customer is that woman who doesn’t fit the cookie cutter mold. She wants

to express her individuality through her clothing and accessories. She likes to

own one of a kind pieces that she knows no one else will have.

General Geographic Location

We will be located in downtown Chicago.

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USP

We will do the searching for our customer, to offer them one of a kind,

handpicked vintage accessories. We will also have what we call our Vintage

Pick of the Week, which will be an opportunity for our employees to express their

individualities by being able to choose a vintage piece currently in the store that

is their favorite. We will have this piece and our employee’s reason for picking it

located on our website and in store every week.

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Customer

GEOGRAPHIC:

Region: Midwest

City Size: Chicago (~2.7 Million)

Urban/Rural: Urban

Climate: Four seasons

DEMOGRAPHICS:

Age: Mid-20s to Early-30s

Sex: Female

Family Life Cycle: Single

Income: 42,000 – 59,000

Occupation: Interior Designer

Religion: Agnostic

Ethnic Background: White

Psychographics:

Social Class: Middle Class

Personality: Individual, Artistic, Socialite

Life-style: Socialite

CONSUMER BEHAVIOR:

Benefits desired: Individuality, Quality

Usage rate: Light to Medium

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Culture

The internal culture of our store is definitely unique. The atmosphere we create

for customers by the staff we hire and the mood we make sets for a very relaxed

and different shopping experience. Our employees will have experience in the

industry as well as a passion for vintage. Our employees must be involved as

much as we are in the findings of each piece we sell. Each individual employee

may have a better knack for a type of merchandise however, for example,

there will be an employee who enjoys finding and working with vintage jewelry

and another employee who works with vintage furniture. All employees will go

on hunts for merchandise just as much as we, the owners do. That is a perk for

them being employed with us, and part of their job description. The employees

will also take part in the research that goes behind each individual piece they

find. That way each member of the store will have background knowledge of

everything we sell. The way the staff thinks of their jobs is more of a hobby than

an actual job. We provide a very homey atmosphere so that employees and

customers love coming into our store. Tea is always made and provided for both

customers and employees at any time of the day, no cost. Music that the store

plays will be interchangeable based on which employee is working that day

and what they want to listen to for the day. We trust that the employees have

the customer’s best interest in mind and we trust that they will play the music

that our customer would want to hear. It also creates a more laid back and

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relax mood by letting our employees have a little bit of control and free range

over their own work days. We also have something very unique to our store that

we call the, “employee pick of the week,” where one employee is chosen each

week based on performance and who we think did the best job throughout the

previous week. That employee will then be able to pick their favorite piece of

merchandise and it will be displayed and showcased out on the front desk.

Customers on the mailing list will be notified each week of the new employee

pick of the week and will be encouraged to come in and check it out. The

employees will also be given the opportunity to work with the visual displays.

Everyone is assigned to a specific section that they work with and they have

free range of the displays as well as recovering their area at the end of the work

day. We feel that if we treat our employees with equal respect and not as if they

are positioned under us, then they will work better at their jobs and make for an

overall greater team altogether.

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Competition

Direct Competition

Direct competition would be vintage boutiques like Lulu’s and Vintage

Underground. Our boutique is one that offers real vintage jewelry, handbags,

and accessories. Lulu’s offers similar genuine items. However much of their store

is focused on clothing from the 1920s thru 1980s. But because they offer real

vintage items they are directly competing with us because not only do they

have jewelry they have large clothing selection. Another direct competitor

would be vintage underground. This boutique offers a wide variety of antique

and vintage items. The store claims to offer, “Costume Jewelry, Vintage

Clothing, Accessories, China Wares, Barware, Postcards, Local Art, Vintage

Suitcases, Picture Frames, Men's Suits, Ocean Liner Memorabilia, Military Stuff,

Antique Clocks and Watches, Antiques, Modern Art, Furniture, Lamps, Mirrors,

Posters, Papers, Magazines, Radios, and Camera Equipment.” Because they

have such a wide variety of merchandise they directly compete with us while

also drawing in customers our boutique may not attract.

Indirect Competition

Our indirect competition would be restaurants that offer quality food and

healthy food. These places would also offer a bit of individuality. A few

restaurants that would be indirectly competing with our business is Karyn’s On

The Green, Drew’s Eatery, Greek Islands, and Mista Pizza. These places all offer a

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quality healthful food, unique classy environment, and a touch of individuality in

the design of the restaurant.

Other indirect competitors would be places that sell other things our

target customer will buy. For example Hanig’s Footwear would be an indirect

competitor because we do not sell shoes at our boutique but our target

customer needs her shoes. Also other high quality stores that sell makeup lines

will be indirectly competing with us. An example would be Nordstrom’s makeup

line.

SWOT : Vintage Underground

EXTERNAL ENVIRONMENT FACTORS

Competition

Opportunities

- Vintage items are easy to find, giving Vintage

Underground the ability to find unique items.

- Vintage Underground has been featured in various

publications and is also featured on the official visit

Chicago website.

Threats

- There are a plethora of vintage stores in the Chicagoland

area, with about ten very near Vintage Underground.

- Vintage items are easy to find.

Economics

Opportunities

- Vintage is younger movement, an area of the economy

with a higher disposable income.

- Reusing items is hip and more people are looking to join

the movement.

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Threats

- The economy is still suffering.

- The cost of living is more expensive in a city.

Technology

Opportunities

- Online shopping is a popular means of finding what one

wants, and Vintage Underground carries products online.

- The internet gives people the ability to network and learn

about stores it would otherwise be difficult to learn about.

Threats

- With internet shopping being trendy, many other vintage

stores have also gone online.

- Websites such as eBay and Etsy making find vintage items

cheap much more possible.

Society (Social)

Opportunities

- Vintage clothes are in style with cultural trends such as

“Hipsters.”

- Reusing and recycling are major trends.

Threats

- Vintage is considered old, which can be looked down

upon.

- Vintage will not always be in style.

INTERNAL FACTORS

Customer

a. Demographic

Strength

- Younger customers, especially ones without children, have

more disposable income.

- Vintage is extremely popular among young adults.

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Weakness

- A lot of poorer students shop there.

- Customers are not loyal only to Vintage Underground.

b. Geographic

Strength

- Urban clients are more aware of fashion trends.

- Because of its location, it can offer street parking.

Weakness

- The location of Vintage Underground is far from the center

of the city, and takes a while to travel to by public transit.

- Some may be customers might not travel the distance to

shop.

c. Behavioral Buying Traits

Strength

- Chicago has many college students who will shop at

vintage stores.

- Urban clients are more aware of fashion trends.

Weakness

- Customers are not loyal to Vintage Underground.

- Customers may not be willing to buy more expensive

items.

Product Mix

Strength

- Vintage Underground carries a wide array of products for

customers to choose from.

- Old items are preserved to have a higher quality than

similar times made today.

Weakness

- The store is extremely cluttered from all of the product choices.

- The clutter can overwhelm customers, causing them to shop

elsewhere.

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Pricing Strategies

Strength

- Vintage Underground keeps more of their merchandise

cheap, so it is more affordable.

-

Weakness

- Vintage items can be found cheap on the internet,

making pricing competitive.

- Customers may not be interested in purchasing bigger

ticket items.

Promotion

Strength

- Vintage Underground uses social networking to get

information out.

- It has been featured and discussed on many different

websites.

Weakness

- Vintage Underground doesn’t advertise sales on their

social networking sites.

- Vintage Underground doesn’t send out an email news

letter.

Distribution

Strength

- Vintage Underground only has one location.

- Sell on Etsy.

Weakness

- Vintage Underground only has one location.

- Big-ticket items are hard to haul, which may discourage

some purchases.

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Employees / Management Structure

Strength

- Management features real customers on their website and

social network sites.

- Employees are friendly and helpful.

Weakness

- Management chose to be closed on Mondays.

- Some workers are overbearing

SWOT ANALYSIS LULU’S AT THE BELLE K

EXTRENAL FACTORS

Competition

Opportunities

- Chicago is a large city offering wide variety of clientele

and foot traffic

- Lulu’s is located on the north side of Chicago and is quite

popular giving them an advantage if they decided to

open up other stores in the downtown area.

Threats

- There is a lot of competition located in the same area as

Lulu’s giving customers many options to choose where

they would like to shop

- Online retailers who have collected the same type of

merchandise have a low start-up cost and do not have to

pay taxes which will give them a price advantage

Economic

Opportunities

- Although the recession has hit hard on a lot of businesses

vintage boutiques like Lulu’s will be able to survive

because of their type of clientele

- There is always room to find new products that are less

expensive yet still appealing to the customer

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Threats

- Bad economy forces all people to think closely about

where they are willing to spend their money

- There is a demand for vintage clothing but when the

economy is in a bad shape other competition and prices

have a stronger effect on the business when consumers

are keeping a tight grip on their wallet.

Technology

Opportunities

- As technology progresses social networks and web

advertising is becoming much more common and

effective.

- Technology in general aids businesses in being more

efficient with getting their products to thee consumer.

Threats

- Online retailers that sell the same clothing for cheaper

- The overhead cost having a brick and mortar store

opposed to an online retailer

Society

Opportunities

- Vintage items are collectible and will always be collectible

because they are a part of history, which keeps the

market always in demand of these types of items

Threats

- Vintage clothing may go out of style and since this

boutique specializes in only that this could greatly effect

their business

INTERNAL FACTORS

Customer Strengths

- Their customer is willing to pay for these items because of their

authenticity

- Their customer frequents their store often because new items

are likely to come in

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Weaknesses

- Customer base is so specialized if customers taste change

they may not be able to accommodate

Product Mix

Strengths

- Offers authentic vintage clothing, jewelry for customers

- Pieces are still affordable yet elegant and prestigious

Weaknesses

- Very niche market, limits their business to only small group

of consumers

- Small online selection of clothing, jewelry, and accessories

Pricing Strategies

Strengths

- Items are priced based on quality and authenticity which

makes them attractive to customers

- Pricing is affordable and their customers are willing to pay

for their items

Weaknesses

- There is no mark down on any items on their website and

there is no notification of any sales taking place either

online or at their store

- They do not have an “On Sale” section on their website

Promotion

Strengths

- They have a significant web presence (Website/Google

Ads)

- They have a “Lulu’s in the news!” section which builds their

credibility

Weaknesses

- Although they have a web presence it is very unorganized

and the selection is small

- They do not use their website to promote what is

happening at the shop (mailing lists, or updating websites)

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Distribution

Strengths

- Can order merchandise off Lulu’s website

- Can follow them on Facebook which offers some updates

about product line

Weaknesses

- Only one point of distribution

- Website only offers small selection of products, which limits

customer accessibility

- Store heavily relies on foot traffic but does not take full

advantage of the Internet

Employees

Strengths

- Operated by Laurie Davis who is passionate about what

she does and hand picks every item in her store

- Staff is probably very small and close knit offering a warm

environment to work as well as shop

Weaknesses

- Maybe to small of a staff which might explain why the

website is a little unorganized and plan

- Although a small staff is likely easy to maintain, there are

less ideas flowing in about ways to improve business

Price Point

The prices for our items with stay relatively high due to the authenticity

and genuine distinction our products offer.

Substitution:

Although there are substitutes for vintage merchandise that are close in

replication I feel that a real collector or a customer who takes pride in knowing

their accessories are authentic is what keeps the demand for vintage

merchandise high.

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Customary

Because each vintage item is unique in its own sense and not a mass

produced item it is likely that huge price changes will not occur and demand for

the product will not decline if the price of our item is spiking upwards.

Vendors

List of Vendors:

-Estate Sales

-Auctions

-Antique Shops

-Private Collectors

-Buy or Trade (customer)

-Any other opportunities that may present itself

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Industry Overview

The current state of our industry in Chicago is strong. There are a lot of

boutiques which suggests that not only is the industry strong but its stable.

Vintage merchandise is unique in the sense that it cannot be reproduced.

According to CBSChicago.com, “Vintage shopping is more popular than ever,

and Chicago boasts some of the most remarkable vintage clothing stores

around.” Also boutiques are showing great success not only in Chicago but

everywhere.

According to stylecareer.com, “Today, owning a boutique is probably

one of the easiest moves to become a part of the lucrative growing fashion

industry. Both online and offline boutiques are popping up everyday. Even

though only a select few grow into large fashion retail stores like Nordstrom, most

successful boutique owners earn decent income to lead a fulfilling lifestyle.” For

this reason and the unique items sold at these boutiques I feel that the market

will be strong in two, five and even ten years.

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Vision

To become the most well known, go to vintage store of the

Chicago land area and to grow both financially as a company and

a team.

Mission

To offer our customers an exquisite selection of handpicked

accessories while providing unparalleled service due to our love and

knowledge of the vintage treasures we collect, and to help our

customers gain the experience of having a story to go along with

every purchase. We want to create a fun and enjoyable

atmosphere for a great shopping experience to our unique

customers who share the same interests and quality as us.

Shared Values

▪ Dominate customer service

▪ Empowerment of associate skills for finding and picking out

merchandise

▪ Legendary customer relationships

▪ Importance of respect of our unique and specific customers

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Local Assessment

We chose Lincoln Park to be the home of Finders Keepers because of its

great demographics in relation to our target customer. The Chamber of

Commerce considers the median age about 31, and the average family size of

a little more than two. This means there are many young singles and couples,

the ideal customers for our store. Many of the residents of the area are also up

on current fashion trends. Additionally, the median family income is about

$133,000, an ideal for our target market.

Furthermore, Lincoln Park is an area visited by many tourists, whom,

although not our target market, would be likely to stop by our store. This would

give us an array of clients interested in vintage and one of a kind jewelry.

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Plan-o-gram

For the plan o gram we decided to go with the open flow layout. It made

it a little challenging to write the plan o gram out to show exactly where I want

the merchandise. Since we are only carrying jewelry and accessories they will

be intermixed throughout the displays, not sectioned off by style or designer. I

chose to put our higher end vintage pieces in a small display located between

the front door and the cash wrap, that way our employees will be able to keep

a better eye on the more expensive merchandise.

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Layout

Open flow

Our boutique will have an open flow because it offers easy access to our

merchandise while providing a sense of freedom and curiosity as our customer

makes their way through our store.

Décor

All of our décor will be vintage furniture, and most of it will be for sale too!

The furniture that we will incorporate into our décor will include tables, seating,

mirrors, lighting and chests, such as dressers and cabinets. Below are images of

examples of our lighting and chests, such as dressers and cabinets. Below are

images of examples of our décor.

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Five Senses

Taste

- Old school candy at counter for customers

Sight

- Beautiful displays, that aren’t packed with merchandise, and incorporate our

vintage furniture.

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Sound

- An iPod to play Pandora radio that will be picked by employees (approved by

management).

Smell

- A consistent candle burned at register.

Touch

-Luxurious fabrics on vintage seating. As well as ornate materials used in the

production of the vintage pieces.

Merchandise Categories

Furniture

-Tables

-Lighting

-Seating

-Mirrors

-Chests

Jewelry

-Necklace

-Bracelets

-Earring

-Ring

Accessories

-Scarves

-Bags

-Other

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Sales

Below are the results gathered from the three methods of calculating your

average sales.

Option #1

Class M T W Th F Sa Sun Total

Units

APP Total

FT Close 0 0 0 0 1 0 1 250 250

FL 0 0 0 1 2 1 4 75 300

FS 0 0 0 0 1 0 1 300 300

FM 0 0 0 1 2 1 4 75 300

FC 0 0 0 0 1 0 1 500 500

JN 2 2 3 5 6 6 24 50 1,200

JE 3 3 4 6 10 7 33 30 990

JB 2 3 3 4 6 5 23 50 1,150

JR 1 1 2 2 3 2 11 35 385

AS 1 1 2 2 3 2 11 40 440

AH 0 0 1 2 3 1 7 80 560

AO 0 0 2 2 4 2 10 25 250

Weekly Sales = $6,6625

Annual Sales = $318,000

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Option #2

Average

Ticket

M

T

10

W

10

Th

15

F

15

Sa

25

Sun

25

Total

100

$125 Closed 1,250 1,250 1,875 1,875 3,125 3,125 $12,500

Annual Sales = $637, 500

Option #3

Our rent is $1,650 a month but it is a lease so we rounded up to assume it would

be about $2,000 a month.

2,000 X 12= $24,000 a month

Annual Sales = $240,000

Our most realistic finding was option #3, since it is based on actual data,

by having 8-12% of your average sales being your rent. So we felt we could add

a little to the $240,000 we got from option #2. We decided our annual sales

would be $275,000.

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Budget

Gross Income: $275,000

Fixed Expenses Dollars Percent

Owner Salaries 27500 10

Payroll Taxes 2970 1.08

Alarm 137.50 .05

General Insurance 192.50 .07

Legal and Accounting Fees 165 .06

Maintenance and Repair 1100 .4

Miscellaneous 605 .22

Office Supplies 990 .36

Professional Fees 2200 .8

Rent 1650 .6

Taxes and Licenses 275 .1

Telephone 1100 .4

Travel and Entertainment 6050 2.2

Utilities 1375 .5

Window Trim 550 .2

Total 46860 17.04

Variable Expenses Dollars Percent

Selling Payroll 27500 10

Payroll Taxes 2750 1

Advertising 11000 4

Credit Card Expenses 6600 2.4

Dues, Donations, and Subscriptions 137.50 .05

Employee Welfare 550 .2

Freight 6050 2.2

Postage 137.50 .05

Store Supplies 2750 1

Total 57475 20.9

Total Expenses $104335 37.94%

Net Income: $170665 , 62.06%

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Management Style- Leadership

At Finder’s Keeper’s we have an overall productive staff and team. We like to

include our associates on decisions involving them as well as the best interest of

the store. We feel that as a team we should have the associate’s feedback to

be considered. That being said, here at Finder’s Keeper’s we will be having a

Democratic leadership style throughout the store. The Democratic style offers

and encourages the employees to take part in the decision processes. It uses a

two way communication system between the senior and junior employees and

uses delegation. We feel as if this particular style would be best suited for our

store atmosphere. As far as management styles go we will be carrying out an

overall style of delegating. However, each manager will independently have

their own natural style. One manager for example, may have more of a

coaching management style based on their praising and direct personality. We

will use delegation mostly by setting goals with the employees so that they are

aware of what we want to achieve. We will also be developing plans with the

employees as well so that they can choose who does each task. The styles that

we have chosen are what we believe are best suited for us as the management

team, the employees, and lastly the store. We feel with these styles we will be on

our way to have a productive and growing boutique.

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Profit and Loss Statement

Sales: $275,000

COGS: $123,750

Gross Income: $151,250

Fixed Expenses Dollars Percent

Owner Salaries 15,125 10

Payroll Taxes 1,633.50 1.08

Alarm 75.63 .05

General Insurance 105.88 .07

Legal and Accounting Fees 90.75 .06

Maintenance and Repair 605 .4

Miscellaneous 332.75 .22

Office Supplies 544.50 .36

Professional Fees 1,210 .8

Rent 907.50 .6

Taxes and Licenses 151.25 .1

Telephone 605 .4

Travel and Entertainment 3,327.50 2.2

Utilities 756.25 .5

Window Trim 302.50 .2

Total 25,773.01 17.04

Variable Expenses Dollars Percent

Selling Payroll 21,175 14

Payroll Taxes 1,512.50 1

Advertising 6,050 4

Credit Card Expenses 3,630 2.4

Dues, Donations, and Subscriptions 75.63 .05

Employee Welfare 302.50 .2

Freight 3,327.50 2.2

Postage 75.63 .05

Store Supplies 1,512.50 1

Total 37,661.26 24.9

Total Expenses $63,434.27 41.94%

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Events

January—After Christmas sale, take an additional 30% off sale items

February—Valentine’s Day, with a purchase of $25 dollars and get a More

cupcake

March—Vintage Know-It-All

April—“How to Redecorate,” bring a friend receive 15% off furniture purchase

May—“Guy’s Shopping Night” (Make a purchase and receive a coupon for 15%

off Mom’s next purchase)

June—Buy piece of furniture, free 1-year inspection

July—4th of July picnic open house

August—Spend $50 get a $10 gift card

September—Back to school shopping, one week tax-free

October—Bring in a food shelf item get 15% your entire purchase

November—Black Friday (Open late open house 8-10), Christmas display starts

December—Christmas, Christmas display

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Detailed Events

1. April. In April, we would offer a free seminar featuring a local interior designer on

redecorating one’s home, such as redoing one’s entryway. For those who

attend our seminar and bring a friend, they will each receive a 15% off coupon

for any furniture purchase they make that week. The seminar would feature a

guest speaker, Jillian O’Neill, who is a Chicago interior decorator. We would also

serve refreshments. The tag line for the event would be, “Imagine the

Possibilities.” Refreshments would cost us around $50, if we buy cookies and

punch. Jillian O’Neill would cost us more, probably around a few hundred

dollars. The event would bring in women looking to redo their entryways, thus

more likely to buy something. They’re also likely to go with a friend, but the

coupon will give them more incentive to bring friends. That also increases our

client base. (Postcard)

2. June. If one buys a piece of furniture during our June event, they will receive a 1-

year inspection of their item. One of our employees will go out to their residence

and check out their item. Our employee will then offer decorating suggestions

based on our current inventory.

3. November. To contrast the early morning shopping and stress of Black Friday,

our store will be having an open house after hours. Our open house would be

serving wine and cheese to help our visitors relax after a stressful day of early

morning shopping. The tag line would feature this idea, “Stressful morning? Relax

with us.” The event would cost us around $500, if we were to purchase 18 bottles

(about 90 glasses) of $20 wine and good cheese and crackers, as well as glasses,

napkins, plates, etc. Because people are already in a buying mood from Black

Friday, and drinking wine, we hope it would be a successful night. Social

gatherings also encourage customers to bring friends along, who may also buy.

The event would help immediate sales and increase our customer base.

(Postcard)

4. December. For December, we decided to host a Christmas display similar to that

which Dayton’s used to have and was taken over eventually by Macy’s. The

event brings in many people who are only there to see the display, but are

forced to wander though the store to get there. This forces a huge mass of

people to view a large portion of your store, especially when the wait line is

strategically placed. Although making the display would be expensive, we feel

the extra advertising would be beneficial.

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April Flyer

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November Flyer

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Value of a Customer for Life

Our customer for life is Sally; she has been shopping with us since she was

twenty-two. She comes into the store on a regular basis to browse around, but

on average she purchases about eight times a year. Sally is very fashionable

and extremely interested in vintage pieces to accent her already impeccable

sense of fashion. Because of her place in the Chicago social scene she often

finds herself needing new accessories to impress the other women at the events,

so we would assist her in selecting the right pieces for her outfit of choice. Along

with her love of vintage accessories, she also has an appreciation for vintage

furniture, which she often purchases as well to accentuate her brownstone in

Lincoln Park. Overall on average Sally spends about one hundred dollars each

time she comes in, but because she welcomed two children in her thirties, there

were a few years we didn’t see her because she took some time off the social

scene to raise her children. So in all Sally was a customer of Finders Keepers for

twenty years. In total, coming in eight times a year and spending one hundred

dollars each time over twenty years, Sally spent $16,000 at Finders Keepers.

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Human Resources- Staffing

Detailed job descriptions:

Owner: The owner of our boutique has a lot of responsibilities on her shoulders.

Aside from her responsibilities of running the store, she is very entrepreneurial

minded and use a set of savvy business skills and an in-depth knowledge of the

industry. She oversees all aspects of the boutique operations such as the

planning, purchasing inventory, setting up displays, and managing the

employees. She always goes above and beyond to work at creating lifelong

customers and does her best at keeping the store unique just for them. She does

a great job at keeping the customers and employees happy and satisfied. Even

on her days off you can bet on seeing her in the store!

Manager: The main responsibility of the manager is to oversee and handle the

day to day processes that are carried out in the store. She manages the

product inventory, employees, displays, and sales. She trains the new

employees, and still works with the older employees as well. The management

style is generally delegating. She voices the goals that we want to achieve to

the employees so that they are aware and so they can help us achieve them.

She also works hard at keeping the employees motivated while everyone is on

the sales floor (including her) that way everyone can do their job efficiently and

effectively.

Part time employees: We have a great set of three part time associates that

work very hard at their jobs. They asset customers with hard to find items, they

asset customers with their questions, and most importantly get the customer to

buy what their trying to sell. They have a wide range of duties and provide

different services, such as helping the customer pick out the perfect item, ringing

them out at the register, and creating loyal customers. The part time associates

learn to become very patient seeing as there are a lot of difficult customers that

do come in. They tend to be polite, friendly and very outgoing when it comes to

greeting and talking with the customer. The part time associates work just as

long and hard as the manger and owner do.

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Hours:

Monday-Closed

Tuesday-Thursday 10-6

Friday-Sunday 10-8

With the schedule we planned based on how many people we thought we

needed per day, we had a total of $101,008 invested in salaries, but our P & L

only allotted $66,000 to salaries. With that in mind there are a number of things

we could do to decrease the amount of money dedicated to salaries. First off

we could decrease the salaries of our owner and manager. The other thing we

could do is get rid of our morning shift and just stick to one person in the morning

and two in the afternoon.

Schedule:

Jenna open-close X Open-Close X Open-Close Open-Close

Sam X Open-Close X Open-Close Open-Close Open-Close

Frank CLOSED 9:30-1:00 1:00-6:00 X 9:30-1:00 1:00-6:00 X

Izze 1:00-6:00 X 9:30-1:00 1:00-6:00 X 9:30-1:00

Employee #3 X 9:30-1:00 1:00-6:00 X 9:30-1:00 1:00-6:00

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Day in the life of the manager:

Our manager, Sam starts off her day happy knowing she is going into work at

Finder’s Keeper’s. She loves knowing that she gets to work with her associates

and work toward creating big sales that will make the customer satisfied. She

starts of her day opening the store at 11 o’clock with one part time associate.

From there the two of them do the opening routine of opening the register,

recovering the store, and looking at the previous day sales and compare to last

year sales as well. She discusses the goals she wants to see be accomplished for

the day with the part time associate, and decide what they can do to achieve

those goals. Once the store is open, they work on recovery and displays while

waiting for customers to come in. As the first customer arrives Sam welcomes her

in with a warm greeting. She finds out what that specific customer’s needs are

and what she is hoping to find. Then she helps her find the best item that fits her

needs. Sam likes to listen and connect with the customers that way it makes the

customers feel comfortable and keeps them coming back into the store. She

wants the customer to know they get great customer service when they visit.

Sam makes sure there is always hot tea and coffee available for the customers

and employees. Her and the part time associate work together to pick out the

music they want to be played for that day. If the morning is slow with little

customers Sam will be sitting at the front desk working on the schedule for the

next week or payroll. Whatever she may be working on, she will always be

located at the front desk so that incase a customer came in she is always

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available to them. Sam’s day mostly consist of working on the planning for the

store and assisting the customers whenever they need her. She loves working

with the customers as well as the associates. She tries her best to run the store

smoothly and effectively.

Store Guarantees and Policies

Return Policy: Customer has ten days to receive back how they paid and thirty

days to receive store credit. We are mainly a vintage boutique and because

many of our pieces were made many years ago there is always a possibility that

something could break. We have a jeweler that we trust and if the customer

brings the damaged piece into the store we will send it out to be repaired.