Introduction

This plan shows the financial plans and promotions of Bravo intimates, which will be situated in downtown Royal Oak. This exciting endeavor will bring a needed women’s intimate apparel store to the metro area, expanding the second year to include mastectomy products. There are no major mastectomy shops in the area that can serve this particular customer. Bravo Intimates can be expected to gain the highest market share by supporting local women’s clubs and organizations. This will allow Bravo Intimates to link events with in-store promotions. Our ultimate goal to be Michigan’s best swimwear and intimate apparel shop is to fit every customer in the most flattering bra or swimsuit.

A portion will be put in a bank account to help us purchase our own building. We are tentatively planning for year 4.

The Company

Bravo’s management team is strong and experienced, with more than 35 years combined experience. Every member is a specialist in their field, and we can cover all aspects of the company.

Rebecca Autumn will become: Owner/Operator, with 55% ownership. They will be responsible to buy, customer sales and fit-outs.

Lucille winters (Co-owner) will be: Part-owner with 26% equity and will act merchandising consulting, employee training, sales and part-time.

Deborah Summers – She will be a 19% owner and act as an Operation manager responsible for accounts payables, inventory control and in-store promotions.

The store will be in Royal Oak’s downtown shopping district. South Washington street is the most upscale street in town. It measures 2,000 square feet (10 x 200).

The Products

We will only sell brands that we feel meet our standards for quality and fit. We will be introducing brand new products to our customers.

Bravo will sell quality European and American products like Rigby & Peller and Prima Dolce, Wacoal and OnGossomer. Our expertise and concentration is in bra fitting full-busted and full-figured women. Bras/intimate attire will be the first category of merchandise. Then, swimwear/At Homewear and hosiery will be added.

Bravo will continue expanding its range of products as it achieves its financial and sales goals.

The Market

Intimate apparel for women, also known as innerwear, has seen a 10% increase in sales over the last three-years to $11.8 million. All product categories saw robust growth during this period, with the highest growth occurring in Bras (17%) and Bottoms (12%). Over the past eight year, there has been an increase in awareness among consumers about bra fitting. Since 2005, independent stores all over the country have experienced double-digit sales increases. This is due in part to two factors. One, the clothing industry features more skin-revealing fashions that require speciality base garments. Two, fashion column writers emphasize the importance for bra fittings and mention the local specialty stores.

Bravo Intimates, which is a Non-Chain Speciality store, captured $304 Million of the $10.702 million market. It also captured $341 Million of $11,797 M of the intimate apparel industry’s $11,797M market. The largest market share was gained by direct mail merchants in the last two years. They accounted for $914 million of the total market. Internet sales were the main reason for this rise.

Based on the potential customers in the Royal Oak region, we have calculated that there are 94,201. This strongly suggests that there is a significant market void. We see a market opportunity for an intimate clothing store that will serve all the needs in the Tri-county area.

Financial Projections

Bravo Intimates’#8217 are following these financial goals:

• to achieve a net profit margin of over 7% the second year of operation and 15% the third.
• To earn a net profit over $100,000 the second year, and $41,000 the third.

For such numbers, we need to raise approximately $196,000 for start-up, which includes $80,000 for initial inventory.

We will negotiate a 5-year loan in partnership with National City Bank, Royal Oak, in order to make the first years’ payments as flexible possible.

1.1 Objectives

• We aim to be a destination shop that offers the best lingerie, swimwear, and personal fitting services.

• To attain the largest market share possible in the region for speciality garments foundation clothes.

• To actively support women’s and other community organizations by connecting events to in store promotions

• To achieve a net income margin of 15% or more in the third year.

• For the second and third years, to achieve a net profit exceeding $41,000 and over $100,000 respectively.

1.2 Mission

To be the top swimwear and intimate apparel store in Michigan. Every customer is fitted in a bra or swimsuit that gives her support and shapes, enhancing her overall silhouette.

1.3 Keys for Success

If you want to succeed in the intimate clothing business, here are some things you should do:

• You can find foundations from top brands in a variety of sizes and styles.

• You will find fashion and basics brands that stand out from the rest.

• We educate and advise our customers about fitting.

• Continuously monitor and adjust our inventory levels to ensure that we are selling the best.

• Customer service excellence in a positive environment for body image.

• Advertise in areas where potential customers can learn more about us and our services.

• Stay informed about new trends, technology, and brand developments

• There are many price points to choose from, as women come at different shapes, sizes, and economic levels. However, the average price point falls in the middle.